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Agenda 02-15-07 t!~~qY~T2~ eRA . East Side-West S'lde-Seas'lde Renaissance COMMUNITY REDEVELOPMENT AGENCY Special Meeting Thursday, February 15,2007 Boynton Beach Women's Club Boynton Beach, Florida 6:00 P.M. I. Call to Order. II. Roll Call. III. Agenda Approval. A. Additions, Deletions, Corrections to the Agenda. B. Adoption of Agenda. IV. Approve Contract for the Treasure Coast Regional Planning Council Market Analysis and Development Program for the MLK Corridor- 2007 V. Adjournment of Open Public Meeting. VI. Executive Attorney/Client Session. Discussion of settlement negotiations or strategy session related to litigation expenditures in the case of Boynton Beach Community Redevelopment Agency v. Jesus House of Worship, Inc., Case No. 502005 CA 004252 XXXX MB, Circuit Court of the Fifteenth Judicial Circuit in and for Palm Beach County, Florida. VII. Adjournment of Executive Attorney/Client Session. VIII. Call to Order of Open Public Meeting. IX. Consideration of Approval of Mediation Settlement Agreement in Boynton Beach Community Redevelopment Agency v. Jesus House of Worship X. Adjournment. I. II. III. IV. r ~~~qY~T2~ eRA . East Side-West S'lde-Seas'lde Rena'lssance COMMUNITY REDEVELOPMENT AGENCY Workshop Meeting Thursday, February 15,2007 Boynton Beach Women's Club Boynton Beach, Florida 6:30 P.M. Call to Order Approval of the Agenda Old Business A. Consideration of Draft Master Development Agreement with In Town Partners for development of the Martin Luther King Corridor Adjournment vi ~' ~ sS ~.... (' oflJl 0- "'~ rY DRAFT DRAFT DRAFT February 15, 2007 Lisa Bright, Executive Director Boynton Beach Community Redevelopment Agency 639 E. Ocean Avenue Suite 103 Boynton Beach, FL 33435 Subject: Proposal for Market Study, Planning Evaluation & Analysis, and RFP Assistance for "Heart of Boynton" Redevelopment Project Dear Ms. Bright: Thank you for considering the Treasure Coast Regional Planning Council (TCRPC) to provide the Boynton Beach Community Redevelopment Agency with planning and economic review and analysis services regarding the "Heart of Boynton" redevelopment proj ect. Weare submitting this proposed agreement which includes a draft scope of services and proposed fee to perform such services. If you have any questions or wish to further refine our suggested scope of services, please contact us at your earliest convenience. However, if the agreement meets with the CRA's approval, we ask that you sign it in the space provided and return a signed copy to our office for execution. I. Scope of Work PLANNING & ECONOMIC ANALYSIS AND ASSISTANCE FOR HEART OF BOYNTON REDEVELOPMENT PROJECT - $65,000 Per our understanding of the project, the CRA selected a proposer (In-Town Development Group) in response to an RFP issued by the agency in 2006. It is our understanding the CRA wishes to utilize the TCRPC to assist with a comprehensive planning analysis and evaluation of the plans under consideration as well as provide an update to a 2005 market study completed by ERA for the project area. Accordingly, TCRPC intends to retain Economic Research Associates, an economic consulting firm with extensive knowledge of the South Florida market generally and Boynton Beach in particular, as a subconsultant to complete the tasks identified above. The specific tasks to be undertaken are delineated as follows: Task 1: Project Initiation Meeting: · Participate in a meeting with City of Boynton Beach and CRA staff, other agencies as identified by the City and CRA, and other project representatives as identified, to fully understand how the project has evolved since June 2005, review current project issues, DRAFT, REV. 2/15/2007 DRAFT DRAFT, P. 1 OF 4 confirm current site plan/architectural renderings/uses, and identify other policy/program Issues. · Review of relevant supporting documentation, including previous planning studies, the CRA Plan, retail market studies, and FlU's housing needs assessment. · Confirm the project approach, schedule, and study deliverables. · Participate in a site and area tour of the CRA. Task 2: Key Market Interviews · Interview selected commercial real estate specialists, development/institutional representatives, project managers, and other market sources in Boynton Beach and/or Palm Beach County to gauge market response to redevelopment potentials in the CRA · Assess views of competitive product types, absorption potentials, target markets, pricing, development costs and other economic issues as appropriate, and · Address current strengths and weaknesses of the redevelopment opportunity and the experience of comparable and competitive projects in Boynton and/or surrounding/nearby communities such as Delray Beach or other parts of Palm Beach County. Task 3: Economic & Demographic ProiIle Update · Utilize current economic and demographic data to evaluate appropriate economic indices or "drivers" designed to measure fundamental sources of demand for the proposed uses, including population and household growth, distribution of age cohorts, etc. · Evaluate employment growth and distribution trends and characteristics to understand potential local demand for the project's workplace/office uses, and · Examine household/consumer and employee retail spending patterns and other measures of economic growth that inform potential supporting and destination retail uses. Task 4: Real Estate Market Conditions · Update historic and current market performance for the proposed uses, including mixed- density rental and for-sale housing, multi-tenant office/workplace, and supporting and destination retail and supporting services such as lodging · Assemble and analyze secondary data on development patterns such as building permits and housing starts, pipeline projects, etc. · Research prospective buyer profiles, including demographic characteristics, to understand market positioning of new residential development in the CRA, and · Update inventory, vacancy trends, commercial and residential rents, historic absorption/leasing activity, tenant characteristics, key operating metrics such as seasonality, demand generators and segmentation, and buildout/schedule of new and proposed comparable or competitive projects Task 5: Market Potentials/Redevelopment Programming · Define relevant trade areas and market characteristics for. each use · Test potential market demand/redevelopment opportunities for each use using appropriate demand methodologies (expressed in gross square feet, number of residential units, etc.) · Estimate likely absorption and phasing considerations and identify an achievable (market supportable), five- and 10-year development program that considers current market conditions, near-term demand expectations, local and regional growth indices, locational characteristics, and phasing/buildout · Outline preliminary redevelopment and implementation strategies for the CRA that examine critical issues such as public-private partnerships, public investment and leverage ratios, etc. 2 Task 6: Interim Project Review Meeting · Attend one (1) interim project review meeting in Boynton Beach · Present the findings of the demographic and market conditions updates as well as key recommendations regarding redevelopment potentials in the study area to TCRPC and CRA staff Task 7: Economic Impacts · Estimate the economic impacts accruing to the City of Boynton Beach, Palm Beach County, and other levels of government as appropriate · Calculate expected project benefits, including construction and permanent employment, permanent payroll; estimated taxable sales and sales tax receipts, business/licensing and other use taxes, estimated assessed values, and property tax receipts accruing to relevant jurisdictions Task 8: Planning Evaluation and Assessment · Attend one (1) initial project meeting with CRA and City staff, other relevant agencies, and project representatives to review project concepts, urban design considerations, housing types and quantities, project scale and massing. · Participate in one (1) design session with City and CRA staff, other relevant agencies, and project representatives to evaluate alternative design approaches, given alternative development program pursuant to findings of market study. · Present the findings of the planning evaluation and assessment, with project recommendations, to a public meeting of CRA, City, and other representatives. Recommendations to include illustrative and schematic renderings, as many as necessary, to illustrate key project components. Task 9: Final Presentation & Report · Participate in one (1) final project meeting in Boynton Beach with City and CRA staff (and other project representatives as appropriate) · Conduct a final presentation to the CRA Board in Boynton Beach · Prepare draft and final project report TCRPC anticipates data, mapping, and financial data to be provided by the Boynton Beach CRA and/or City of Boynton Beach. II. Schedule It is TCRPC's understanding the CRA anticipates completion of this work effort within three to six months. A specific timeframe will be developed with the Boynton Beach CRA staff at the project initiation meeting. III. Type and Format of Deliverables TCRPC will provide the Boynton Beach CRA the following items as deliverables under this contract: . Three (3) color copies and two (2) electronic copies of the Draft Report . Ten (10) color copies and two (2) electronic copies of the Final Report 3 TCRPC will also format the data from the Draft and Final Reports into slides appropriate for inclusion in a powerpoint presentation. Other electronic formats to be determined in collaboration with CRA staff. IV. Fees and Reimbursable Expenses TCRPC will perform the professional services described in this proposal for a fixed fee in the amount of $70,000. This includes travel, out of pocket expenses (printing and reproduction costs) film processing, mail, couriers, sub-consulting costs, and other costs related to the professional services to be provided. Fees shall be submitted as follows: $35,000 or 50% upon execution of this contract $17,500 or 25% upon submittal of draft report $17,500 or 25% upon submittal of final report APPROVED AND ACCEPTED on this ... day of ....................,2007 By: Lisa Bright As Executive Director, Boynton Beach CRA By: Michael J. Busha, AICP As Executive Director, TCRPC 4