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Agenda 06-10-14 v . BOYNTO BE AC t. CRA Board Meeting June 10, 2014 @ 6:30 pm City Commission Chambers 100 E. Boynton Beach Blvd. Boynton Beach, FL 33435 AGENDA L Call to Order II. Invocation and Pledge to the Flag III. Roll Call IV. Legal: A. West vs. CRA Update and Consideration of Settlement Proposal V. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda VI. Informational Items and Disclosures by Board Members and CRA Staff: A. Disclosure of Conflicts, Contacts and Relationships for Items Presented to the CRA Board on Agenda Items B. Informational Announcements VII. Announcements & Awards: None VIII. Consent Agenda: A. Approval of Minutes — CRA Board Meeting, May 13, 2014 B. Approval of Minutes — CRA Special Closed Door Session, May 19, 2014 C. Approval of Period Ended May 31, 2014 Financial Report D. Monthly Purchase Orders IX. Pulled Consent Agenda Items: X. Information Only: A. Public Comment Log B. Business Development Advertising Campaign C. CRA Development Project Update: Boynton Harbor Marina Harbor Master Building Proj ect D. CRA Development Proj ect Update: Parking Lot Proj ect on NE 1 st Ave. & NE 1 st Street and & Sidewalk Connector located at 208 NE 1st Avenue E. Movies in the Park: June 27 — The Lego Movie F. Happy Hour Thursday — Music on the Rocks /Shaken Not Stirred G. Standard & Poor's Rating Services XI. Public Comments: (Note: comments are limited to 3 minutes in duration) XII. Public Hearing: None XIII. Old Business: A. Consideration of Conceptual Designs for the North Federal Highway Entry Signage XIV. New Business: A. Consideration of Resolution No. 14 -04 and Interlocal Agreement with the City of Boynton Beach to Provide Technical Services to the CRA B. Consideration of Standard Vendor Agreement and Entertainment Agreement for Events C. Consideration of Purchase Agreement between the CRA and Blanche H. Girtman for Vacant Lot l Ion MLK Blvd. in the Amount of $130,000 D. Consideration of Purchase Agreement between the CRA and Brian J. Fitzpatrick for Property Located at 137 W. MLK Blvd. in the Amount of $125,000 E. Consideration of Purchase Agreement between the CRA and Rosebud House, LLC for Property Located at 121 NE 4th Avenue in the Amount of $155,000 F. Consideration of Approval of Commercial Facade Grant and Waiver to the Commercial Facade submitted by the Boynton Woman's Club G. Consideration of Approval of Revisions to HAP Short Sale Policy Guidelines H. Consideration of Approval for The Bride of Christ Tabernacle Church's Request for Temporary Use of CRA Lots for Parking L Presentation of New CRA Website XV. Executive Director's Report: A. New Businesses in CRA District B. Development Projects Update XVI. Future Agenda Items: A. Report by Lyman Reynolds on the Status of the Lisa Bright vs. CRA Case — July B. Consideration of a Direct Incentive Funding Agreement with LeCesse Development Group- TBD XVII. 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 APPROPRIATE ALT-XILIARY .AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTITNITY TO PARTICIPATE IN .AND ENJOY THE BENEFITS OF A SERN "ICE, PROGRAM, OR ACTIVITY CONDUCTED BY THE CITY. PLEASE CONTACT THE CRA AT (561) 737 -3256 AT LEAST TN'ENTY- FOUR HOURS PRIOR TO THE MEETING PROGRAM OR ACTIVITY IN ORDER FOR THE CRA TO REASONABLY ACCOMMODATE YOUR REQUEST. MINUTES OF THE COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING HELD IN COMMISSION CHAMBERS, CITY HALL, 100 E. BOYNTON BEACH BLVD. BOYNTON BEACH, FLORIDA, ON MAY 13, 2014, AT 6:30 P.M. Present: Jerry Taylor, Chair Vivian Brooks, Executive Director Joe Casello, Vice Chair Ken Spillias, Board Counsel Buck Buchanan Michael Fitzpatrick Mark Karageorge Mack McCray David Merker ® Call to Order Chair Taylor called the meeting to order at 6:30 p.m. Invocation and Pledge to the Flag The invocation was given by Mr. McCray, followed by the Pledge of Allegiance to the Flag led by Vice Chair Casello. Roll Call Roll call established a quorum was present. IV. Legal: A. Update on Legal Matters Attorney Spillias explained an update of legal matters was contained in the meeting materials and advised on May 5th, a hearing was held regarding West Construction's Motion for Temporary Injunction and on the CRA's Motion to Dismiss. The Court denied the CRA's Motion, but made it clear before the matter moved to the hearing on the Temporary Injunction, West Construction would have a very difficult burden to establish a right to the injunction. The CRA was required to file an Answer no later than May 25 Attorney Spillias and legal counsel for West discussed there was a basis for resolving the matter without further extensive litigation expenses, but he needed direction from the Board and requested a CRA Executive Session. He thought the issue was promising and would be resolved. Meeting Minutes Community Redevelopment Agency Board Boynton .Beach, Florida May 13, 2014 After polling the members, there was agreement to schedule the session on May 19, 2014, at 10 a.m. Mr. Buchanan commented he would not be able to attend. Present at the session would be Ms. Brooks, Attorney Spillias, the Board and a court reporter. V. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda Mr. Karageorge pulled Item VIII A. of the Consent Agenda. B. Adoption of Agenda Motion Mr. Karageorge moved to approve as amended. Mr. McCray seconded the motion that unanimously passed. VI. Informational Items and Disclosures by Board Members and CRA Staff: A. Disclosure of Conflicts, Contacts and Relationships for Items Presented to the CRA Board on Agenda Items . Merker disclosed he spoke with Steve Skaggs, the owner of Two Georges. Vice Chair Casello announced he would be meeting with Attorney Bonnie Miskel and Tom Hayden of LeCesse to discuss development of the Ocean Avenue property. Messrs. McCray and Fitzpatrick disclosed they would be meeting with Attorney Bonnie Miskel and her client on Tuesday. Chair Taylor commented he would be meeting with Attorney Miskel on Friday as well. B. Informational Announcements Mr. McCray attended the Citrus Cove Media Center Dedication. Mr. Karageorge advised he received a response from Carol Westmoreland, Executive Director of the Florida Redevelopment Association, advising him his suggestion to have an award for Financial Excellence would not occur in 2015, but would in 2016. He thought Finance Director Susan Harris should be nominated for her work. He attended the Movie Night event and gave kudos to the staff. On Saturday, the Town Square Planning meeting would be held at 9 a.m. 2 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 Mr. Karageorge addressed the City Commission, the CRA Board and City Clerk's Office and announced he had approached Board Counsel to provide him with a letter for his employer on how Mr. Karageorge should proceed in the event his employer pursued business with the City and CRA. After discussion and reviewing legal and ethical regulations, it was determined either the company does not do business, or the Board member should resign. He advised at the conclusion of this meeting, he would resign from the. CRA Board to avoid any perception of a conflict of interest or even the appearance of any impropriety. He announced he performed his duties with the highest ethical and professional standards possible, while others have not. He thanked the CRA staff individually for their assistance and praised and thanked each of his fellow Board members. He acknowledged the contributions the City Clerk's Office lends the meetings via the minutes and he reviewed the many accomplishments the CRA completed during his tenure on the Board. Motion Mr. Karageorge moved to recommend to the City Commission at its meeting the next week, they accept his resignation and appoint Woodrow Hay to fill his seat on the Board. Mr. Merker objected as only the City Commission can make the appointment to the Board. Attorney Spillias agreed and explained Mr. Karageorge was expressing his opinion. A motion was not needed. Mr. Karageorge explained Mr. Hay could complete his term which expires March 2015. Mr. Hay, as a former City Commissioner and CRA Board member, could facilitate a smooth transition. If opened to the public, by the time the appointee got up to par, the term would be over. Mr. Karageorge discussed the matter with Mr. Hay, and he indicated, if the position was offered, he would accept. Mr. Karageorge wanted the Board to recommend the City Commission take that action. Chair Taylor expressed his sorrow at the resignation and his appreciation for the great service Mr. Karageorge had provided. He commented after the meeting, Mr. Karageorge's comments would not be governed by the Sunshine Law and he was open to his ideas and suggestions. Vice Chair Casello expressed his surprise at the resignation and commented Mr. Karageorge's knowledge was invaluable. He hoped to keep in contact with him. Mr. Merker thanked him for his friendship and knowledge. Mr. McCray thanked Mr. Karageorge for his kind words and was glad to have worked with him. 3 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 Mr. Buchanan agreed with the prior comments and thanked him for his contributions. He looked forward to working with him in the future and wished him well. Mr. Fitzpatrick agreed with the prior comments and that Mr. Karageorge was a wealth of knowledge, and he thanked him for his service. Ms. Brooks thanked Mr. Karageorge for supporting the mission of the CRA and his support of staff. She thanked him for being part of the team. It was also affectionately noted the meetings would be shorter without him. VII. Announcements & Awards: A. Movies in the Park: May 2 — Recap - The Secret Life of Walter Mitty Ms. Zimmermann, Marketing, Events and Economic Development Assistant, wished Mr. Karageorge the best and hoped to see him at events. She announced the movie had a great turnout. She distributed about 150 raffle tickets to adult attendees and believed there were about 250 people at the movie. Momentum was building and gift certificates to local businesses were distributed and raffled off as part of the events. June 27 — The Lego Movie Ms. Zimmermann explained instead of showing the movies on the first Friday of the month, they will show it on the last Friday of the month, to accommodate the release of the movie. She noted students will have completed school so there should be a good turnout. B. Happy Hour Thursday — Music on the Rocks /Shaken Not Stirred Ms. Zimmermann announced the concert was rained -out. Riverdown would perform classic rock and pop on May 15 and she advised the concerts were extended to 9 p.m. and to June. Food and beverages would be offered. String Theory has a following in the Delray and Boynton Beach area and would perform reggae, classic pop, and rock on June 1.9 Ms. Brooks commented the CRA had a professional videographer create a video that showcased local restaurants. It was very well done and they offered raffles for those particular restaurants at these event. Mr. Karageorge noted there has been positive feedback from them. Mr. Fitzpatrick noted the meeting materials indicate one individual did not want their restaurant highlighted and inquired why. Ms. Brooks responded no reason was given. VIII. Consent Agenda: 4 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 A. Approval of Minutes — CRA Board Meeting, April 8, 2014 This item was pulled by Mr. Karageorge. B. Approval of Period Ended April 30, 2014 Financial Report C. Monthly Purchase Orders IX. Pulled Consent Agenda Items: A. Approval of Minutes — CRA Board Meeting, April 8, 2014 Mr. Karageorge made the following corrections: Page 3, last sentence should be deleted: " HeappT °meted both th Housing AuthoFity, and he FeGOgnized Mr 6CaFageorge as he had serne'RpUt in the donation Page 9, the sentence before Adjournment should read: "Mr. Karageorge commented eGe6se - Lyman Reynolds would give a report at the next meeting. Motion Mr. Karageorge moved to approve the minutes as amended. Mr. McCray seconded the motion that unanimously passed. X. Information Only: A. Public Comment Log Mr. McCray noted the Comment Log indicates "the comment would be represented on the Comment Log." He noted it should read would be presented. B. Update on Irrigation and Maintenance of Vacant Lot - 222 N. Federal Highway There were no comments on this item. C. Marketing Collaboration- Florida Trend Magazine There were no comments on this item. 5 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 1 3, 2014 D. Business Development Advertising Campaign There were no comments on this item E. Annual Filing of Statement of Financial Interests Chair Taylor commented he was advised the form would be mailed to his home, but he had not received it. Mr. Merker commented he received his form. Susan Harris, Finance Director, agreed to look into the matter and speculated the delay was due to the timing of the mailing. Chair Taylor pointed out if a Board member was also a City Commissioner; they only had to file the form once. I. Public Comments: (Note: comments are limited to three - minutes in duration) Steve Anton, 234 SE 2 nd Avenue, commented Boynton Beach was the only City in the State located between the Everglades and the Atlantic Ocean giving the City a big advantage. Eco- tourism is very lucrative and the City could capitalize on it. He planned to present the proposal to the City Commission as well. Mr. Anton was a former park ranger and was aware there was a lot of interest in this type of recreation. It could also generate a lot of fees. He emphasized in order for an activity to be successful, it should occupy the individual for four hours. He thought the City would be successful pursuing the activity. Minister Bernard Wright, 713 NW 2 nd Street, commented MLK Boulevard, at one time, was a bustling and successful street and a lifeline of Boynton. It brought solidarity to the community and was a place for families. He would like to see this restored on the corridor and would like to see a cultural center there to bring about the true history of Boynton Beach including the histories of the African - Americans, Haitians and other segments of the community. This would attract businesses to fill vacant lots on the corridor, and provide a community for the Boynton Beach natives that still remain. It would restore life back to the corridor and generate money for those families. He requested the Board consider the matter. Chair Taylor pointed out later in the meeting, the Board would be discussing the Heart of Boynton Redevelopment Plan which would provide insight as to what was planned for the area later in the meeting. Minister Wright explained MLK Boulevard catered to some of the greatest entertainers that ever lived, especially African - American entertainers. Mr. Karageorge agreed and explained the CRA was putting a Family Dollar Store at the corner of Seacrest and MLK Boulevards. There were other items on the agenda geared to the Heart of Boynton that would improve the quality of life. Minister Wright appreciated that, but pointed out it had 6 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 nothing to do with community, family and native monies that would be generated. He expressed Family Dollar was taking money out of the community. Mr. Karageorge remarked Family Dollar would generate jobs and was the first commercial building in the Heart of Boynton in 55 years. Minister Wright expressed he would like to see African - American businesses there and lighting was needed. Public Comments was closed. X 11. Public Hearing: A. Consideration and Approval of the Updated Heart of Boynton Community Redevelopment Plan Ms. Brooks explained this item was part of the Strategic Plan that was recently adopted and it was the first task the CRA and City staff completed. Ms. Brooks reviewed a PowerPoint showing a map of the Heart of Boynton and explained - the area was predominately African - American. The Heart of Boynton had an interesting street layout and there were some very small lots. The Heart of Boynton Plan evolved from a charette involving 400 participants. Staff identified and interviewed community stakeholders, they conducted planning and design charettes and the Plan was adopted in 2001. Key strengths and weaknesses of the area were identified. There were two. elementary schools and Head Start Center, two active Community Development Corporations, churches, and a strong City /CRA commitment to the area. Cherry Hill Public Housing and Boynton Terrace were seen as weaknesses and there was loitering and crime at local small stores and a large number of small vacant parcels. The neighborhood Master Plan recommendations in 2001 were to create seven neighborhoods west of Seacrest that would be single - family homes. East of Seacrest would be predominantly multi - family. Land assembly for new development at Cherry Hill, the MLK corner and southeast quadrant would have a predominantly Floribbean design Seventy -nine new homes were constructed in the neighborhood by the CRA, the City, the Community Development Corporation and Habitat for Humanity. There were 75 homes renovated, the Cherry Hills development was demolished and an RFP was awarded to develop the land. Boynton Terrace was demolished Wilson Park was redeveloped into the Carolyn Sims Community Center, the Palmetto Green Park Expansion was completed, land was acquired for the Sara Sims Park and a master plan was adopted. The Seacrest Boulevard streetscape was completed. The MLK Streetscape was designed, but staff was waiting for more development to occur. The City and CRA assembled over 100 properties, but because the lots were small and owned by..multiple owners, some of whom held out for high purchase prices, assembling the land took longer than was hoped. Additionally, the lots were not always adjacent to one another. 7 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 There was a Development Agreement in place with the Family Dollar Store for an 8,100 square foot store. A map depicting new or rehabbed homes and land owned by the City and CRA was reviewed. Some of the changes made since 2001 were new mixed -use districts and transit - oriented developments. There may be future commuter rail service, economic development and historic preservation programs were in place. There were redevelopment opportunities identified since the plan was adopted that staff thought would help stabilize the community. They have a model -block program on west MLK Boulevard on the north side and staff was working with non - profit groups to install streetscape improvements including trees, sidewalks and lighting. The Ocean Breeze East homes would be between 6 and 7 ". There would be commercial mixed use and residential uses on Seacrest, bringing new residents to the area which would make commercial enterprise more viable. There is a lot of vacant land in the Heart of Boynton, making it difficult to bring business to the area. The MLK Commercial Center was on the nodes on MLK and Seacrest Boulevards and MLK Boulevard and Railroad. In addition to the Family Dollar Store staff was working on a 10,000 square foot, full - service grocery store on the corner of MLK and Seacrest. The community had been asking for a grocery store for a long time, but more residents were needed. Ms. Brooks reviewed Ocean Breeze West and noted the RFP to develop the project was on the agenda. It is a four -acre site and it would be a major project for the community. Staff started acquiring property in the Cottage District because the block was strangely platted and an RFP to build new homes would be issued later in the year. It was hoped a developer would be creative and provide opportunities for homeownership there. Currently, there are lots of rentals, but staff was looking to stabilize the neighborhood via homeownership. Sara Simms Park expansion included the historic African - American burial ground that would be memorialized and the park. A master plan was already in place, and other properties needed to be acquired to complete it. The abutting properties were in very bad shape and were boarded. All of the projects were starting to come together and connect the neighborhood. Mr.. McCray commented the playground equipment at Sara Simms Park was removed and not replaced. Ms. Brooks explained the plan included play equipment and a small area for a small concert or gathering. The concept was created from comments made by community residents at the meetings at the Carolyn Sims Center. It would be a nice open space for picnics. The east side of Seacrest would have a density increase in the middle of the MLK corridor, and there would be Light Industrial to create jobs as the neighborhood has routinely expressed jobs were needed. Staff recommended a change from General 8 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 Commercial to Light Industrial with higher design standards to make the area more attractive. There would be a buffer between the single - family and light industrial areas via a townhome -type development that would be within walking distance of a train stop. To support and create a viable train stop, increased density was needed. The height of the townhomes would only be four stories and no more than 45 feet in height. A public meeting was held on October 24, 2013, at the Sara Sims Center and staff used i- clicker technology. Overall, the public supported the recommended changes. Postcards were sent to every address in the Heart of Boynton for the meeting and a public notice in the Palm Beach Post. Staff recommended approval. Mr. Karageorge thought it was a great update and hoped Planning and Zoning would be able to approve the project timely due to the land use and density changes and the issuance of the RFP. Mr. McCray inquired where a citizen would obtain a copy of the Plan. Ms. Brooks responded copies were available at the CRA office and it was online and could be downloaded. Mr. McCray requested 10 copies. Mr. Merker requested the definition of General Commercial. Ms. Brooks explained General Commercial was a very broad category. Light Industrial is not heavy manufacturing. It could be a builder with an office to store things. Quantum had light Industrial. Ms. Brooks thought it was a positive change because small business will not generate waste or noise and it would create jobs. Mr. Merker thought Light Industrial should be monitored. Ms. Brooks agreed and explained it is monitored through licensing and Code Compliance. Motion Mr. Merker moved to approve. Mr. Karageorge seconded the motion. Mr. Fitzpatrick felt public funds should not be used to subsidize single - family homes. From an environmental perspective, he felt backyards were not a good use of land. They require a lot of water, there is runoff, and pesticides and fertilizers pollute the waterways. He thought there should be single - family units, but did not believe government should be in the single - family home business. Mr. Fitzpatrick had no objections to the Cottage District, but took exception to the Model Block project. He did not see any reason to support it. Another issue was the population projections for Boynton Beach showed another 30,000 residents. He did not see any planning to accommodate the increase. He took the trolley ride familiarization tour for developers and commented he was interested in Greenways. He thought a Greenway along the FEC corridor made the most sense now more than ever. There was ongoing discussion about adding another 30 passenger I . trains per day, and when the Panama Canal widening project is completed, there would 9 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 1, 2014 be more cargo trains. He thought there should be a 200 -foot buffer along the FEC corridor, and it was not in the Plan. A buffer would help with noise and vibrations Mr. Merker pointed out the purpose of a CRA is to improve blighted and slum areas and inquired about the definition of ownership. Ms. Brooks clarified that all the concepts viewed would be subsidized via a land buy down. They would not construct homes. An RFP would be issued and a private developer would construct them. The fabric of the community on the west side of Seacrest was fairly healthy. It could change on its own over time', but the community would not appreciate inserting multi - family homes there. The community was agreeable to construct them on the east side and supported the concepts. Chair Taylor opened the Public Hearing. Minister Bernard Wright questioned who the community was that designed and approved the Plan. He emphasized they were discussing MLK Boulevard and it is the heart of the African - American community. Mr. McCray explained in 2001, a charette was held. Many members of the community met at St. John Missionary Baptist Church and various other churches to provide residents the opportunity to state what they wanted. From that, it was learned they wanted a grocery store. Minister Wright wanted the names of the church ministers who attended and asked if they resided in the community. Mr. McCray responded they were from Boynton. Dr. Martha Meeks Light, he, and many others provided input. Minister Wright commented the street was a historic street and the Plan should include the Robert Wells Subdivision, which was left out. Mr. McCray explained they were reviewing the totality of the street. Other residents indicated they wanted more businesses on MLK Boulevard. This was why copies of the plan were available. Minister Wright had no objection as long as the individuals native to Boynton Beach and lived in the area. Minister Wright commented the higher echelon of the African - American community did not care about those that owned the corridor. They never knew anything about the underprivileged or their future. Myra Jones, 311 NW 4 Avenue, was privileged to be a citizen of Boynton Beach. She gave accolades to those who represented the City for the 45 years she has been a resident. She lives two blocks away from the new Galaxy E3 Elementary School and was very proud the City and CRA stood by the citizens. They marched with the community to fight drugs and crime. She noted 20 years ago, the City held a retreat to create the Heart of Boynton Plan. Many residents attended and the residents were told many of them would not live to see the plan completed. She thanked staff for working on the project. The Plan was not dreamed up; rather it was the result of input from the community. She thanked the CRA for enacting it and inquired what the citizens could do to help. 0 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 Mr. McCray announced there would be a dedication at the Galaxy E3 Elementary School on Thursday, at 9 a.m. Steve Anton, 334 SE 2 nd Avenue, explained he is a Boynton Beach Historical Society Board member and research was being done on that area. Archivist Janet DeVries and Dr. Ginger Pedersen travelled to Washington D.C., at their own expense, to view the original land plats and review some of the historic areas in Boynton Beach. Steven Grant, 136 NE 3 rd Avenue, advised he lives just south of the Heart of Boynton, and he had a choice of where to live. He chose Boynton Beach because it was close to 1 -95 and Federal Highway. He noted the CRA put a lot of thought into the Master Plan and did not know if the CRA coordinated with the City to assemble lots. He was also Chair of the Financial Advisory Committee and they were making recommendations for the vacant lots. He indicated he would forward them as the Committee sought to help make Boynton Beach the best. He loves walking his dog in the Heart of Boynton and it was a pleasure to live in a City where one can say hello and receive a response. Mr. McCray thanked Chair Taylor for allowing the public to speak. The opportunity was presented to the community to speak and be heard. The motion passed 6 -1 (Mr. Fitzpatrick dissenting.) III. Old Business A. Review of Phase Four of the Marina Redevelopment Project Ms. Brooks explained the Marina has been in the forefront since 1981 when the first CRA plan was adopted. Staff stepped up its redevelopment when they were able to purchase a portion of it from the Skaggs family, another portion from the Related Group, and a portion of it from the City. Now that there was a large portion owned, the CRA could improve it and create a unified look. The final Master Plan was created in 2009. Work on the Marina included dredging the basin, installation of new pilings, piers, docks, fish cleaning stations, and individual meters for water and electric at the slips. They replaced wood at the fuel dock. The next phase was to attract attention to the Marina and install a small park with green space. They pump a million dollars in gas out of two old gas pumps, which were being upgraded. The underground portions of the pumps were replaced and above ground gas pumps would allow larger boats and yachts to be serviced. The CRA was constructing a small ship store and public restrooms. Customers and boaters come to the Marina and need to use facilities. The grounds are being landscaped with trees. The final phase was to address an older building, constructed by the Hall family, which had apartments upstairs and retail downstairs. The concrete building was non- conforming and there were visibility issues with it because it was on a corner. Both the 11 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 construction and renovations were in conformance with the approved Master Plan. Ms. Brooks pointed out there was a lot of activity in a small area. There were two active restaurants, Marina customers and vendors, businesses and the residents of Marina Village. B. CRA Development Project Update: Boynton Harbor Marina Harbor Master Building Project Ms. Brooks explained the project was a permit - approved project ready to go. Vice Chair Casello was unaware a permit had already been issued. Ms. Brooks explained the CRA always gets the project permit approved as it diminishes the need for change orders. She apologized and commented the permit was inexpensive and was basically for landscaping. The CRA sought to create a sitting area with lots of palms and shade areas. Pictures of what was proposed were viewed, including an open air kiosk, from Jupiter which was very popular. Ms. Brooks put this on the agenda because she wanted to be prepared for the budget meeting, and researching other options at that time would delay the project. Mr. Karageorge noted a few years ago, the CRA was ready to demolish the building, but a Palm Beach County Commissioner intervened and the demolition was postponed. Mr. Karageorge recently had discussions with the County and was told if they want to bring the project back, now was a good time to do so. Demolition was originally budgeted for $150K. Even if $100K were budgeted for demolition, he thought it was prudent to undertake the demolition and complete the work in the master plan, as opposed to undertaking a major site plan modification. Mr. Merker had concerns. Retail stores were already there and the area was busy. The parking, safety and noise would affect the public and retail stores and there could be trouble. He thought those issues should be considered before constructing a building. He wanted to hear from the public. At a workshop, Vice Chair Casello had an idea for the building and he requested the CRA Director sit with Planning and Development to see if there was anything that could be done with the building. If it had potential, it should be reviewed. He had made this comment'a few months ago and comments were received which should be considered. Chair Taylor agreed the building was discussed before and the decision was to demolish the building and make it a green space. The building was below Code, and it would be cost prohibitive to bring it up to Code. He thought demolition would be less than $150K. He acknowledged there were some good suggestions for the space, such as a breakfast nook or coffee shop, but he liked the idea of open space, benches and a green area. 12 Meeting Minutes Community Redevelopment Agency Board Boynton. Beach, Florida May 13, 2014 Linda Cross, 625 Casa Loma, Unit 601, the Treasurer of the Marina Village Board and Condominium Association, explained they waited eight years for the Master Plan to be instituted and every option for keeping the dive shop was considered. The Plan called to demolish the building and to replace it with green space and a much needed Boardwalk. She noted there was a great. deal of pedestrian traffic. The building obstructs the view when driving down Casa Loma, from the corner. Cars cannot see the pedestrians and vice versa. It was a problem. There were noise issues. The police have been called to both Two Georges and Banana Boat. On Friday, Saturday and Sunday night there are bands until 11 p.m. She commented Hurricane Alley, the Backyard, Two Georges and Banana Boat were near. She did not think another bar was needed. Ms. Cross noted the Board spends a lot of money removing trash from two levels in the parking garage and there are only 125 parking spaces. Between November and May, the garage is full. Many motorists that are not residents of Marina Village go to the second floor and cannot turn around. Some drivers back down to the first floor which creates havoc. Even during off season, the garage is fairly full and there are still eight retail units that are not rented. She supported the green space as the best use for the space. Peter Armour, 700 E. Boynton Beach Boulevard, Marina Village, agreed with Ms. Cross's comments. The property manager emailed Mike Simon, CRA Assistant Director, indicating they spend about 25 hours a week to clean the garage. He agreed there have been many fender benders and near misses with pedestrians. He hoped the situation could be rectified. He thanked Ms. Brooks for recognizing the traffic concern with the building and the blind spot. The building was outdated, an eyesore, and he endorsed the green space proposed for the area as contained in the Plan. Mary Pat Ryan, 625 Casa Loma, an original owner, explained her unit is at the roof line of the former dive shop. She has seen, since 2006, the vehicle and pedestrian traffic grow. She agreed the building creates a blind spot. She loves living at Marina Village and when company comes, they like to sit and watch the boats. She was opposed to adding another bar or commercial establishment. When she moved, it was represented there would only be two restaurants. She supported replacing the building with green space as there was no place to sit along the walkway. Brian Fitzpatrick, 214 NE 1 St Avenue, commented when he thinks of green space, he thinks of the four acres on the south side of Ocean Avenue and Federal Highway that years ago had a useful building, which has since been demolished. He read about a potential .piano bar at the former dive shop and disagreed with the prior comments made. He expressed more businesses were needed downtown and thought the numbers to demolish the building were exaggerated. The building could become a thriving restaurant. There could be parking on the corner of 1 St and 1 St and he implored 13 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 the CRA to make something from an empty building because vacant lots do not pay taxes. Mike Minia, 625 Casa Loma, Unit 808, explained the issue with the building is it is in an awkward location. Noise would be drastic because it is close to the neighboring building. The parking lot was completely full during season and on the weekends during the summer. Mr. Merkerleft the dais at 8:17 p.m. From morning till night, the parking lot is full. He agreed with the comments made by Ms. Cross. Traffic jams occur. Two weeks ago, the garage gate was broken and indecency had been observed via sexual activity in vehicles and people urinating there. Mr. Merker returned to the dais at 8:19 p.m. Mr. Minia commented Marina Village cannot accommodate any more as it was at capacity. Gayla Hensley, 700 E. Boynton Beach Boulevard, a four -year resident, liked the green space concept. She reiterated the prior comments and did not support another outside business. As commercial business locates there, existing business should also be supported. Safety was her biggest concern. Lauren Truckenbrodt, supported the Marina Village Board's comments. Safety was an issue because the sidewalk ends. She has almost been hit by a car twice in the parking garage. She loves the hustle and bustle of the Marina. She agreed the eight vacant commercial spaces should be filled and appreciated the CRA's consideration of the green space. Steve Anton, 334 SE 2 nd Avenue, explained the Dive Shop at the Marina is one of the oldest dive shops in Florida, which was why the County did not permit the building to be demolished. Mr. Anton polled the public and explained all the complaints received about condo living were expressed in Dade and Broward Counties. He thought the building was a viable building. Eco tourism included diving. There was a paddleboard shop and-jet ski rentals there. Water- oriented individuals tend to be kind, laid -back, and spend a lot of money. He thought it may not be in the CRA's best interest to destroy a building that would attract water - oriented individuals. Mr. Buchanan pointed out one consideration that was omitted when discussing a business at that location, regardless of the type of business, was it brings in more people and it was not good to have business there that would compete for the same service. By not adding another small business, they are in effect, supporting the other small businesses. There are plenty of opportunities for business in the vacant units, and an attractive front would attract more individuals. That was where the coffee and 14 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 book shops should go, and patrons can sit and enjoy the view. He did not believe the City would approve a building that had no designated parking, that was non - conforming and that needed a lot of work. He acknowledged the safety issue and any pressure regarding - parking was negative for all the businesses. He endorsed adhering to the Master Plan as it was well thought out. Mr. Merker commented the public agreed with the concerns he raised and his concern was for the residents. Adding a bar was great, but without parking and with the safety and noise problems, it created a hazard. Mr. Fitzpatrick explained in the late 80s, a developer from Myrtle Beach commented there was 10 pounds of stuff in a five pound bag, which he likened to Marina Village. There was not enough open space and he favored demolition of the building. Vice Chair Casello respected the residents of Marina Village and commented 90% of the problems there were due to parking, which may have been a design flaw. He favored bringing businesses to Boynton Beach. It did not have to be a bar, only a viable small business that attracted the public to the Marina. He understood the desire to have a green space, but he favored bringing business into Boynton Beach and to the Marina. He thought the logistics could be worked out afterward. He reiterated Ms. Brooks would contact Planning and Development to determine if there was anything the building could be used for and he thought it was prudent to do so. The building was constructed in 1940, withstood every hurricane, had character and history, and he wanted more discussion before voting to demolish the building. Mr. McCray explained Marina Village was formerly in District 1, and he appreciated replacing the building with green space. He read the comments, listened to the public, heard the voice of the people and was ready to vote. Chair Taylor understood Vice Chair Casello's thoughts and also wanted to attract small business to the downtown, but noted there were other areas for small business to locate. He would love to see a piano bar, but did not believe it would be at the right location. He favored following the Master Plan. Mr. Karageorge pointed out these changes would be in next year's budget. Motion Mr.. Karageorge moved to direct staff to continue with the Master Plan and budget accordingly for the budget workshop. Mr. Buchanan seconded the motion that passed 6 -1 (Vice Chair Casello dissenting.) Mr. Fitzpatrick inquired if the item needed to be approved by the County Commission. Attorney Spillias responded there would need to be discussions with them and there had been an easement issue. Chair Taylor agreed, but pointed out the composition of 15 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 the County Commission has changed and it had been indicated if approached, they would receive the issue favorably. Now is the time to approach the County. Mr. Simon provided an update on the Harbor Master Building. Photographs were contained in the meeting materials. The slab of the Harbor Master Building was poured forming the grade beam and vertical walls were erected. The top wall forms were installed, truss beams were placed and the roof truss would be delivered on Monday. He was very happy with the contractor and the progress. C. CRA Development Project Update: Parking Lot Project on NE 1st Ave. & NE 1st Street and & Sidewalk Connector located at 208 NE 1st Avenue Mr. Simon gave an update with photos. The parking lot would accommodate 58 parking spots and would connect areas of Ocean Avenue and the Downtown. All the underground work was complete and the sub - surface for the tar and gravel was laid. The drainage and rough electric was progressing and the sidewalk connector area was cleared Mr. Fitzpatrick inquired, if a tree was killed during the process, if it would be replaced and at what caliper. Mr. Simon responded the City's requirement is one to one. The trees were not being relocated, and the City would not approve the project if the trees were killed. D. Consideration of Family Dollar Proposed Site Plan and Elevations Henry Dirksen, Boos Development, 5789 NW 151 Street, Unit B, Miami Lakes, explained a part of the Development Agreement Boos Development had was to bring - back the site plan and proposed elevations for the Board's review and approval. He reviewed the proposed elevation of the project which is constructed on assembled parcels located on the southeast corner of Seacrest and MLK Boulevards, previously occupied by a church. Pre - application meetings were held with Planning and Zoning and they addressed their concerns and comments. Parking was to Code and the site plan received approval from Boos Development. The elevation was above and beyond what a typical Family Dollar fagade would normally be. Photos of the elevation were viewed. In general, the building had covered awnings over the main entrance and textural accents, faux shutters and windows, in addition to real windows on the store front. Additional landscape was added throughout the site to adequately buffer it from adjacent residential properties and the adjacent right of way. Mr. Buchanan commented the elevation was an improvement from the original fagade. He noted prior discussions about development in the area favored a Floribbean design and he inquired if that was expensive. 16 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 Paul Trembly, Boos Development, 5789 NW 151 Street, Unit B, Miami Lakes, explained a hip or hinged roof with a peak would be cost prohibitive at this location. They need a low building with parapets and a flat roof. They priced the elevation to ensure the project would be within their financial range. Vice Chair Casello inquired how many full times jobs the business would create. Mr. Trembly explained depending on the work load, 10 to 12 employees would be hired, some part time. Family Dollar Stores hire from within the community. The jobs are typically minimum wage jobs unless elevated to management. Chair Taylor requested a motion to approve the site plan and elevation design as presented by Boos Development, Inc. for the Family Dollar Store project. Motion Mr. McCray so moved. Mr. Merker seconded the motion. Mr. Trembly explained once they finish the site plan approval process, they planned to start right away. There were no comments from the public. The motion unanimously passed. IV. New Business: A. Consideration of Conceptual Designs for the Federal Highway Entry Signage Project Mr. Simon explained the task was to review conceptual designs for the Federal Highway Entry Signage which was approved by the Board during the budget discussions and final hearing. The project entailed a review of the existing conditions surrounding the entrance at Federal Highway on the south and north ends of the City and a review of existing signage at 1 -95 and Boynton Beach Boulevard. Community Redevelopment Agency and City staff reviewed several designs and schematics with Kimley Horn working their way to the final three being presented. Staff recommended a consensus for concept one. Chair Taylor liked the sign saying Welcome to Boynton Beach, and after polling the members, there was unanimous consent to use the Welcome to Boynton Beach sign. Next would be lighting the sign and installing Royal Palms behind it to create a nice entrance. Once they select the concept, Kimley Horn would incorporate it into the coral wall and bring the design back to the Board in final form. Mr. Fitzpatrick inquired if LED lights could be used. Mr. Simon explained if the application and fixtures would allow it, they would use LED lights. 17 Meeting Minutes Community Redevelopment Agency Board Boynton ,Beach, Florida May 13, 2014 E. Consideration of Issuing an RFP /RFQ for the CRA Owned Parcel Known as Ocean Breeze East Ms. Brooks explained the CRA purchased Ocean Breeze in 2007. It is a nine -acre parcel bifurcated by Seacrest Boulevard. The west parcel was known as Ocean Breeze West, which has 21 single - family homes, most of which are occupied. The east side was proposed for a multi - family mixed use, or strictly multi - family project contingent on what proposals come in. The east parcel is 4.5 acres, cleared and ready to go. Staff sought to issue an RFP with a 60 -day deadline. Ms. Brooks remarked she has received inquiries about the property and she noted a resident from the Heart of Boynton will sit with the five - member panel composed of CRA and City staff members as they review the proposals. Motion Mr. Buchanan moved to approve the attached RFP /RFQ for the Ocean Breeze East site. Mr. Merker seconded the motion that unanimously passed. Ms. Brooks commented the top three proposals will be on the August agenda. F. Consideration of Transfer of 2 Lots in the MLK Corridor from Habitat for Humanity back the CRA Motion Mr. Karageorge moved to approve. Mr. Buchanan seconded the motion that unanimously passed. G. Consideration of Systems Audit and Direct Incentive Funding Agreement ( "DIFA ") Payment Release to Hart Seabourn Cove, LLC for the Property known as Seabourn Cove -Phase I Motion Mr. McCray moved to approve. Mr. Merker seconded the motion that unanimously passed. H. Consideration of Bus Shelter and Temporary Easement Agreement between the CRA and PRH Boynton Beach Motion Mr. Merker moved to approve. Mr. McCray seconded the motion. 18 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 Vice Chair Casello inquired how much it would cost to maintain the shelter. Ms. Brooks responded it may need to be painted in a few years. The shelter was anodized aluminum so there would be minimal cost. The motion unanimously passed. 1. Consideration of Dates for Budget Meeting Ms. Harris reviewed the dates for the budget meeting. After brief discussion, there was consensus to meet on Thursday, August 7 ", from 6 to 9 p.m. J. Discussion of Code Compliance in the CRA District Mr. Karageorge added this item to the agenda for discussion at the Budget Workshop. He formerly sat on the Code Compliance Board and was appalled at the current lack of enforcement. There were major changes made and a Special Magistrate keeps tabling everything instead of taking action. Mr. Karageorge looked at the FEC corridor in other areas and it was nice. The FEC corridor in Boynton Beach was a disgrace. He felt selective enforcement was occurring and it was poor. Mr. Karageorge recommended at the budget workshop they have a designated Code Compliance Officer for the CRA District with the same enforcement powers, who was paid by the CRA and was accountable to the Board. K. Discussion of the Woman's Club Mr. Karageorge pointed out the Woman's Club is a nationally registered historic site. It was dwindling in membership, but was a 501(c)3 Corporation having the ability to raise funds and, apply for grants. He proposed a tri- partied agreement be created to repair the building. The first parties would be the City, who would request the Grants Administrator look for grants to help fund, operate and maintain the building, and the Historic Preservation Planner to pursue Historic Grants to help preserve and maintain it. As the third party, he proposed the CRA commit $300K for improvements. He proposed this be discussed at the budget workshop as well. XV. Executive Director's Report: A. New Businesses in CRA District There were no comments on this item. B. Development Projects Update Mr. Karageorge inquired how the grocery store was progressing. Ms. Brooks explained, hopefully the CRA would acquire another lot, which will help bring the project to fruition. This item would be on the next agenda. 19 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 13, 2014 VI. Future Agenda Items: A. Report by Lyman Reynolds on the Status of the Lisa Bright vs. CRA Case B. Consideration of a Direct Incentive Funding Agreement with LeCesse Development Group C. IT ILA VII. Adjournment There being no further business to discuss, Chair Taylor properly adjourned the meeting at 9 p.m. Catherine Cherry Minutes Specialist 940519 20 MINUTES OF THE COMMUNITY REDEVELOPMENT AGENCY BOARD SPECIAL MEETING HELD IN COMMISSION CHAMBERS, CITY HALL, 100 E. BOYNTON BEACH BLVD.. BOYNTON BEACH, FLORIDA, ON MONDAY, MAY 19, 20 AT 10:00 A.M. Present. Jerry Taylor, it Vivian Brooks, Executive Director Joe Casello, Vice Chair Ken Spillias, Board Counsel Michael Fitzpatrick Mack McCray Absent: Buck Buchanan Mark Karageorge (resigned) David Marker 1. all to Order Chair Taylor called the meeting to order at 10:00 a.m. 11. Roll all Roll call established a quorum was present. ® Announcement of CI Session: Attorney Spit as recommended recessing the public meeting to the executive session to discuss the settlement negotiations and cost of litigation regarding West Construction as noted below WEST CONSTRUCTION, INC vs. CITY OF BOYNTON BEACH AND BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY; Palm Beach Circuit Court Case 502014CA00308"7XXXXMB Attorney Spillias advised the individuals who would be present were. Vivian Brooks, Executive Director; Ken Spillias, Board Counsel; Jerry Taylor, Chair; Joe Casello, Vice Chair; and Messrs. Fitzpatrick and McCray. The clerk would exit the meeting and the onI y other individuals in attendance would be the court reporter and Mr. Morker, should he arrive. IV. Recess to Closed Door Session Chair Taylor recessed the meeting at 10:02 a.m. Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 19, 2014 V. Reconvene Board Meeting in Public Chair Taylor reopened the regular meeting at 10 a,m. Attorney Spillias advised the attorney-client session was concluded. If an agreement was reached, the matter would return to the Board at a regular meeting for approval. Mr. Fitzpatrick requested the record reflect Mr. Merker arrived at the meeting at 10 ® and left at 10 a.m. VI. Adjournment There being no further business to discuss, it Taylor adjourned the meeting at 10:20 Catherine Cher Minutes Specialist 060214 2 u v ;,, [ �1 BOYNT.01 J!"' O, i RA June 10, 2014 Consent Agenda I I Old Business ( New Business ( ( Public Hearing that SUBJECT: Monthly Financial Report SUMMARY: Monthly budget report to the CRA Board representing the revenues and expenses for the month ending May 31, 2014. FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: NIA RECOMMENDATIONS: Approve monthly financial report. 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U Cry o 0 E z r o O u Z rv! O q H Ln m � w W m w o W U m s m W D ] [rl s Q r ry W a rx rn rn H m o o O � U (*7 4 rh z � � va u W o a w N ` a, F q u , m H I '7 O1 Ol FP, I YS, ',. o rl Z X m l t ] LA H 7 � R H U a o Fa ',, ',, ',, v1 Ln U nZ F 7-� 3i In rl d U a H a v W 0 ri x H r 6l m w co F Ri 0 � >+ O zz y , w o a w V ❑ H N i 7 ❑ w a Z W o H () 61 H L m E [ft H w W a rx i w F ❑ E u w o m KC m z a F-d I w c H H a z z > a' U O F r� Cil 0 H W Z Z W o h c� w H k cn 01 Ri Z d ir] F& W �n N G✓ W E-i O w o F fa O F P: BaYNTO , RA CRA BOARD MEETING OF*6 June 10, 2014 Consent Agenda ( ( Old Business ( ( New Business I I Public Hearing Other SUBJECT: Purchase Orders SUMMARY: Attached is the purchase order report for May 2014. FISCAL IMPACT: See attached CRA PLAN, PROGRAM OR PROJECT: None COMMENDATIONS: Approve the purchase order report. Susan Harris Finance Director Boynton Beach CRA Purchase Order Report Month: May 1 V endor Amount Funding Source Descriptio NONE T:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 2013 - 2014 Board MeetingslJune 20141Monthly Purchase Order Report 2014 CRA COMMENT LOG Date Name Comment The old dive shop should be replaced with open air Richard green /park space. There is This comment was too late to make Gladstone - plenty of vacant retail space the 5113/14 CRA Board Meeting -will Marina Village in Marina Village for small be given the CRA Board at their 5/13/2014 Email Owner businesses. June meeting Lists his many concerns about opening another bar at the old dive shop location. There have been many incidents and staff spends Rick Dunstan- time cleaning up the public This comment was too late to make Marina Village parking spaces already. the 5113114 CRA Board Meeting -will Property Green space is needed in be given the CRA Board at their 5/14/2014 Letter Manager lieu of another bar. June meeting Subject: FW: Dive Shop - - - -- Original Message---- - From: Simon, Michael Sent: Tuesday, May 13, 2014 2:33 PM To: 'richard gladstone' Subject: RE: dive Shop Thank you for your comments Mr. Gladstone. I will add them to the CRA board's comment log which will be given to the Board at tonight's meeting. If you can attend, the meeting takes place this evening at 6:30pm in city Hall located at 100 E. Boynton Beach Blvd. - - - -- Original Message---- - From: richard gladstone [ mailto:chase lad aol.com Sent: Tuesday, May 13, 2014 12:49 PM To: Simon, Michael Subject: Dive Shop n C; "ear JIF., As a resident of Boynton as home owner at Marina Village, I would recommend that area be kept as an open space and park like, natural, the dive shop or any building is an eye sore and takes away from the charm of the marina. There is already plenty of commercial store that are vacant and business can move in there rather than clutter up the marina which would be enhanced by some beautiful landscaping, this would enhance the value of the existing property and upgrade the community and hopefully the desirability of the existing vacant space. thanks for the consideration. Richard Gladstone 625 casa loma 1 Dear CRA Board Chair and fellow Board Members, I have read the Article in the Sun Sentinel regarding the use of the aging green structure. I have been in the property management business for over 16 years. I would like to address my concerns to adding another bar. 1. I have 8 open commercial areas that have yet to be rented. We need to develop a plan to attract business to the current units available. 2. "Perception" Adding another bar will create the Perception of a bar district. 3. "Security" Good people do bad things when we add bars to the mix. Over the years I have saved a few incidents. The drunk driver in the pool and drunken Santa are just two of the cleaner ones. Marina Village Property management has many more pictures of "undesirable activities" taken in the parking area located at Marina Village 1f you care to view. 1 r As it currently stands my staff spends 25 hours a week cleaning vomit, Feces, Trash, used condoms and urine from the public parking area. 4. The current available parking at Marina Village will need to be addressed. In season my residents have a 15 to 20 minute wait to get into the secured parking area. I feel the area will be much better suited as a green area. While working with Wyndham World Wide we did many studies of how best to use space. Please see some of the findings below. I truly think the Marina District has an opportunity to set a new standard on the intracoastal waterway. An upscale piano bar seems to me, the quick easy way to address the area. • In all walks of life, green space draws people outside and fosters social contact. • Provides open green spaces where people can congregate and opportunities for positive social interaction and supportive friendly environments.. Studies have found that residents living near green common spaces "had more social activities and more visitors, knew more about their neighbors, reported their neighbors were more concerned with helping and supporting one another and had stronger feelings of belonging" (Environmental News Network). * Green spaces promote safer neighborhoods. When residents have more vested interests in a place, their participation in community vigilance increases, and they will watch to make sure it's not being misused, damaged, etc. The better maintained a residence or public space is, the safer it is going to be. ® Natural areas promote livability and vitality of communities. Recreational opportunities, good air and water quality and scenic beauty will attract new residents, families and tourism. * Green spaces will attract middle class residents to move into areas of the city that may be lower income without practicing gentrification. * What would you rather be surrounded by: concrete or plant life? Easy, right? Plants. * Green spaces attract businesses, create jobs and raise propertyvalue. It also strengthens social bonds in places where those kinds of ties are so badly needed. Kind Regards Rick Dunstan Marina Village Property Manager i t+ F I F ,. I4 C' RA. CRA BOARD MEETING OF: June 10, 2014 E consent Agenda I I Old Business F I New Business I I Legal X Information C3nly SUBJECT: Business Development Advertising Campaign - Boynton Forum and the Pineapple Newspaper SUMMARY As part of the ongoing marketing efforts to assist local merchants in an advertising campaign, the CRA allocated funds in the budget for a monthly double page spread in the Boynton Forum. Every month the double page spread has a different theme in which the businesses are rotated to support the overall "Shop Local "mission. The month of May featured the restaurants that offered Mother's Day Specials. This month the CRA ran an ad in The Pineapple Newspaper to showcases the Economic Development grants. This 1 /2 page color ad reached over 15,000 direct online readers and a circulation of 20,000 papers distributed to 250 locations in Palm Beach County. The purpose for the ad is to attract businesses to relocate or open a business in Boynton Beach with incentives that can "Set your Business in Motion ". New businesses to the CRA district are contacted and encouraged to participate in this free advertising campaign as a welcoming introduction to the area. This advertising campaign has increased visibility for local businesses which sends a message to the community that east Boynton is open for business! FISCAL IMPACT: $15,620.00 Marketing & Business Development Budget The Pineapple Newspaper $525.00 CRA PLAN, PROGRAM OR PROJECT Marketing � 1 Trae ZmithJf Business Development arket g Exhibit A Set dnessm-'O motion nvtea i� g _ ��nQre �00�r�n�r, � , t } ' t �i }� ��it `t•'� � � �_ �� ,5j °t E �t .a� � CPA a }' t r , - The 6oynlun Din er I be M1n ' n�.. U�'llr�CYa B � a la1 5 tens �Mm �F w µwk 1 R'[3ikT7�1 ib t Y 'A � :t'1£+ �SpE BwM'in YwxM1¢Wtl Bowrat Beo_M1 1J61 % 9 �� _ a a �*� lSdfl FS2S772 7 r � ka •• 1 �, �t tit ' I � •: a' � , � f 1_ 25% 11F� � � w � e M In D- -ntown aynton I BOYNTO 1��O NICRA wmmBEACK CRA BOARD MEETING OF: June 10, 2014 I C onsent Agenda I I Old B usiness I I New Business I I Public Hearing IX I Informati on my ISUisdECT: CRA Development Project Update: Boynton Harbor Marina Harbor Master Building & Fuel Dock Site Improvement Project. SUMMARY The CRA Board approved the funding in the FY 2013 -2014 budget for the construction of the Boynton Harbor Marina Harbor Master Building & Fuel Dock Site Improvement Project. The scope of work for the project consists of the construction of a new 1,500 square foot Harbor Master building with shop store and public restrooms, enhanced lighting, landscape and hardscape improvements and signage. At their February 11, 2014 meeting, the CRA Board approved entering into a construction contract with The Collage Companies for the construction of the project for the contract price of $974,545 plus a 15% contingency $146,182 for a total of $1,120,727.00. The Notice to Proceed was issued on February 26 with a final completion date of January S, 2015. As you area aware, the project site is small and located in the most heavily trafficked area of the marina. Collage's Project Manager, David Trindade continues to do a wonderful job far of managing the site and coordinating material deliveries so as not to interfere with operation of the Two Georges restaurant. The project has now is progressed through the installation of the block walls, tie beams, rough plumbing & electrical, placement of the roof trusses and roof sheathing. Progress pictures are attached. FISCAL IMPACT Construction Cost of $974,545 plus 15% contingency $146,182 for a total of $1,120,727 budgeted in Account # 02 -58200 -404 PROJECT CRA PLAN, PROGRAM OR CRA Redevelopment Plan, Downtown Vision & Master Plan, Boynton Harbor Marina Master Redevelopment Plan. RE COMMEN D ATIONS: None. Michael Simo , Assistant Director TAAGENDAS, CONSENT AGENDAS, MONTHLY REPORTS5Completed Agenda Item Request Forms by Meeting\FY 2013 - 2014 Board MeetingsWune 20141Madna Project Update - June.docx Roof Truss Installation , C � 'P E��r �1{t• �� m> r }ttlt Ut111 , t'�, Nli - . t SMt �„r A - � a , {t N \3 f ` 9 (F T us` ,' I q t Y of , f, f! ^,ray § t 16 { ° , aek t t M y n {pi r » y;1w �' ;jtf ^SU � a i p n,,i w l S . , UP1, s } k w= ` , fir , 3 n , , Yy t - fi y,14 4 tt - �t 4 7 J11 3 i#S r} xe fi 3 !• {, r� r yr,_ U ��`k4 a f i� >;, t y , , di { 2 O ` !" ��' ¢ i ,X P, ,,,n . — ic,t .,6 �. f—.,; ; tr t „ , s :�,. �� ,�tr� \S , ��1,�`.st' Harbormaster Building Progress Pictures: May 13 31, 2014 "�� { tk k U k � � k — klPxit ktttRS£Ad,"bN(��, f fr, x � _ l� - P 4 1 r + ^ IWO Y k t 7 Rough Electric Plumbing t t'i, t;x,sk tt ,l ��i�rt�ttki k� xt�� i tti'� � it - ' _'�t' - it {t t xt t { - w , u t� �' rat Sheathing Roof Installation CIO� � • ��t �; ��1 " �� 411 il4 ��t ��j`��: �� 1 =ro 4 � f k � " 4 I r t t j 1 t S — �atlh �;-+ '' •ate a�W 4 t r �� rt '� ayu ! `u,- ti �44�tt4t > —JJ, Vi11Y U' " BEACH ' 1� RA CRA BOARD MEETING OF: June 10, 2014 1 Consent Agenda I I Old Business ( I New Business f I Public Bearing I X Information Only SUBJECT: CRA Development Project Update: Parking Lot Project — NE 1 st Avenue & NE 1 st Street & Sidewalk Connector located at 208 NE 1st Avenue. SUMMARY The CRA Board approved the funding in the FY 2013 -2014 budget for the design and construction of a 58 space public parking lot on the CRA owned property located at 208 NE 1 st Street. The CRA Board approved the release of the Invitation to Bid (ITB) on December 6, 2013 with a submission deadline of January 16, 2014. As a result of the ITB process, cost proposals were submitted from ten contracting firms. At their February 11, 2014 meeting, the CRA Board approved Rosso Site Development, Inc. as the general contracting firm for the Parking Lot — NE 1st Avenue & NE 1st Street & Sidewalk Connector Project. On March 12, 2014, the CRA Board approved entering into a contract with Rosso Site Development, Inc. for the construction of the project. The Notice to Proceed was issued to Rosso Site Development, Inc. with a start date to be on or before April 4, 2014 with a final completion date of October 31, 2014. On March 31 Rosso Site Development, Inc. was on the property ready to begin the demolition site work. Progress has moved moving forward since completing the subgrade and rough electrical work. The first lift of parking lot asphalt is done and the sidewalk connector has received the concrete pour. Project Progress pictures are attached. FISCAL ACT: Contract price of $510,435.24 plus 10% contingency $51,044 for a total of $561,480 budgeted in Account # 02 -58200 -404 PROJECT CRA PLAN. PROGRAM OR CRA Redevelopment Plan, Downtown Vision & Master Plan. None Michael Simon, Assn ant Director T:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTS1Completed Agenda Item Request Forms by MeetinglFY 2013 - 2014 Board MeetingsWne 20141Parking Prj update June 2014.docx Parking Lot Project Progress icr : May 13-June 2,2014 J � 1, t m,. t V iR'KNn ' Sit't Wr �iti�rlY {P {. d J1 Ipl #4 sY � • IU#k +� 1 � J i ((J� Sj� � i �f m4 F# F� h aM a s i of ai i q' a ,1 a ,F �atm,�• � rt � r J - 3 I�t 4 r , gn.� � y f ! 1 i kJ 'hf�44 . XS r QI, fs�� n ui tE, } ' .� f f gJl� i4t) to irJ iw` sW7Ftt t .J4 J� i¢�ro'' J 4 , J t ,� n,JrJ��JJ A, I { i rJ § F'L S r� diJ r 1 #" �S 1�; <,: ( n s JIF sln "• t 'F F t �s1 J k'* 4 h {J J i IN l ii # X7 ` 442 .r 4t4) t rt, t;. F� ,. , J,.tF Ss` • "��a § Jn \r r e wt•i y� 1 r t`u';+` 2� F �, ti" ,1, }trstl �jt� J� s, �{•,� ,r�'�+(� �s�4! 9�� , rye + � C4 R �G m Y. y t + � " mi iq' Ft�Ps u I fl , A l Sidewa+Ic -Co neetof formed (above) and poured (below)l �h } %lYti i Y F rs u.�V wt 6 BOYNTON' C' R A B E AC H I'll ' CRA OA" MEETING F: June 10, 2014 Consent Agendas I I Old Business New Business Legal ( XI Information Only S vies in SUMMARY: • On Friday, June 27, 2014, the Boynton Beach CRA will present the Movies in the Park • Featured movie — THE LEGO MOVIE (PG) • This FREE event will take place in Dewey Park from 8 — 9 :30pm • Expected attendance comparable to the attendance at FROZEN in April which exceeded 400 • Local businesses will offer food and drink for sale: Olde Tyme Kettle Corn, Potions in Motion and KP Concessions • Boynton Beach Track Club will be present selling candy in support of their summer camp program • Ample FREE parking onsite • Guests are encouraged to bring their beach chairs and blankets • High visibility in new Dewey Park location • Great proximity to local businesses in new Dewey Park location • Gift cards donated by local businesses will be raffled off to attending guests • The CRA will continue to market the new Dewey Park location and encourage local business to participate • This will be the last movie of this season until the event resumes in October 2014 FISCAL IMPACT: Budgeted in line item 02 -58500 -480 PROJECT: CRA PLAN., PROGRAM OR DOWNTOWN MASTER PLAN t. Amy Zimme Special Events UAGENDAS, CONSENT AGENDAS, MONTHLY REPORTS1Board Meeting Agendas114 CRA Board Agendas - 20141June 101Movie Agenda Item June 10 Info Only.doc i tt_ p 7 BOYN N A e� 0 �+ rs �� t! a w V v� fir 4r t i( 61 P j.cr riS Otis < rfSV �Z s' �}i _ r I - s S ?5�sry� +11 1� S'2 s l , f s S A({ sS m — I l k f{! l Its rf sl S 1r �� r} s S r 1 sf r}j r E (I�- ii; `i r% CatchBoynton.com 561-742.6246 0� KRA s w t� S �„ Y i f S z' 4 �trtj T:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTS1Board Meeting Agendas114 CRA Board Agendas - 20141June 101Movie Agenda Item June 10 Info Only.doc , 1 is BOYNTO N F p "CRA . . . ................. . I ......... f i : �,, MO VIE F , it 4 a ,d ,nom M OVIE ( PG ) ., 4a , DEWEY PARK MO NE 4 ST - BOYN BEACH � FRIDAY,,FUNE 27 � o I 9:30 P BRING YOUR FAVORITE BEACH CHAIR OR BLANKET AND CATCH A MOVIE UNDER THE STARS� FOOD AAD BEVERAGES A V A ILABLE C S I, tt ttity t1 } }�t> tr4U { {sitttr��) ts� i qi'�i it�a= i I } :y k iit A la, t e e t t E k u�pd 0 P i r I i Brought to you by the BOYNTON BEACH wRA www.catchboynton.com 11` ... T:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTSIBoard Meeting Agendas114 CRA Board Agendas - 2014Wune 101Movie Agenda Item June 10 1 n #o Only.doc b- BOYNTOK i` . RA CRA BOARD MEETING OF: June 10, 2014 Consent Agenda I I Old Business I I New Business , I Legal IX I Information Onl SUBJECT: Happy Hour Thursday — Music on the Rocks / Shaken Not Stirred SUMMARY: • On Thursday, June 19, 2014, the Boynton Beach CRA will present the Happy Hour Thursday — Music on the Rocks Concert Series featuring the band String Theory, a high energy group that plays rock, reggae, classic, pop and everything in between • This FREE event will take place at the Ocean Avenue Amphitheatre from 5 to 9 pm. Food and drink will be offered for sale courtesy KP Concessions and Potions in Motion • The CRA will supply illuminated high top tables with cloths and added illuminated floral centerpieces to create a Happy Hour environment • This will be the last concert before the music series resumes in October 2014 • Ample FREE parking onsite • No pets please FISCAL ACT: Budgeted in line item 02- 58500 -480 CRA PLAN, PROGRAM OR PROJECT: DOWNTOWN MASTER PLAN RECOMMENDATIONS/OPTIONS: Amy Zimmerm Special Events T :. IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTS1Board Meeting Agendas114 CRA Board Agendas - 20141June 101Concert Agenda Item June 10 1 nfo Only.doc BOYNTONl� I CRA E . music ON THE ROCHS !! E h � I s � f , u Et a i - •s �t €,. „ III l�h �s s�d3rf� �k;'s}��1��' s sp ri }si T :AGENDAS, CONSENT AGENDAS, MONTHLY REPORTSIBoard Meeting Agendas114 CRA Board Agendas - 20141june 10CConcert Agenda Item June 10 Info Only.doc <�ssl �Ik i} I s B E Ej r I I, 1i .. �n } oRA ..... . ...... . FREE CONCERT FEATURING 6 MUSIC ON OCEAN AVENUE AMPHITHEATRE , - L THE ROCHS 129 E. OCEAN AVE. , BEAC mot 5firred BRING A FRIEND OR MEET NEW ONES! FOOD AND DRINK AVAILABLE FOR PURCHASE ROCK, REGGAE, CLASSIC, POP AND EVERYTH � \ I F I I i Brought to your by the BOYNTON BEACH CRA www.catchboynton.com T:u;GENDAS, CONSENT AGENDAS, MONTHLY REPORTSIBoard Meeting Agendas114 CRA Board Agendas - 20141June IO\Concert Agenda Item June 10 Info Only.doc BOYNTON"i M"W""100 B EACH RA CRA BOA" MEETING OF: June 10, 2014 X I Consent Agenda I Old Business I I New Business Public Hearing SUBJECT: Standard & Poor's Rating Services SUMMARY: S &P has recently rerated both the CRA's and City's bond ratings and increased the rating from an A to A +. The Al rating on the CRA bonds is based on the City's implied -GO credit quality, as well as, its favorable level of available non -ad valorem revenues, also utilized for essential city operations, that still affords satisfactory protection of debt service. FISCAL : None PLAN, CRA : N/A RECOMMENDATIONS: NIA WK- WK Brooks Executive Director T:tiAGENDAS, CONSENT AGENDAS, MONTHLY REPORTS1Completed Agenda Item Request Forms by Meeting\FY 2013 - 2014 Board MeetingsWune 201415 &P Rating Report.docx STANDARD&POOR'S RATINGS SERVICES McGRAW HILL FINANCIAL RatingsDirect" ........................................... I ................................................................. Summary: Boynton Beach Community Redevelopment Agency, Florida Boynton Beach; Appropriations Primary Credit Analyst: Hilary A Sutton, New York (1) 212-438-7093; hilary.sutton@standardandpoors.com Secondary Contact: Apple Lo, Boston (1) 617-530-8316; apple.lo@standardandpoors.com Research Contributor: Arni Karnani, CRISIL Global Analytical Center, an S&P affiliate, Mumbai Table OfContents ............................................................................................................. Rationale Outlook Related Criteria And Research WWW.STS NDARDANDPOORS.CGM/P.ATE14GSDIRECT MAY 28, 2014 1 1322798 1300001296 Boynton Beach Community Redevelopment Agency, Florida Boynton Beach; Appropriations Boynton Beach Comnty Redev Agy, Florida Boynton Beach, Florida Boynton Beach Comnty Redev Agy Unenhanced Rating A +(SPUR) /Stable Upgraded Many issues are enhanced by bond insurance. Rationale Standard & Poor's Ratings Services raised its underlying rating (SPUR) to 'A +' from 'A' on Boynton Beach Community Redevelopment Agency, Fla.'s tax- increment revenue bonds, issued on behalf of Boynton Beach. The upgrade is based on Standard & Poor's local GO criteria, published Sept. 12, 2013. The rating is based on Boynton Beach's covenant to budget and appropriate non -ad valorem revenues for debt service should tax - increment revenues be insufficient. The rating reflects our opinion of the following factors for the city: Adequate economy Boynton Beach's economy is adequate, with per capita market value and projected per capita effective buying income at roughly $70,800 and 92% of the national average, respectively. According to the Bureau of Labor Statistics, the unemployment rate in Palm Beach County was 7.3% in 2013. Residents benefit from the city's participation in the broad and diverse Miami -Fort Lauderdale -West Palm Beach metropolitan statistical area. We view this as credit strength. The tax base grew by 5.7% in fiscal 2014, reversing a trend of declining assessed value (AV) since fiscal 2008. Strong management conditions Management conditions are strong with "good" financial practices under our Financial Management Assessment methodology, indicating financial practices exist in most areas but that governance officials might not formalize or monitor all of them on a regular basis. Strengths include a long -term capital plan and strong policies for investment management, reserve, and liquidity. Strong budgetary flexibility In our view, Boynton Beach's budgetary flexibility is strong, with available reserves at 16.7% of operating expenditures in fiscal 2013. The available reserves include the city's committed fund balance of $7.1 million, or 10.7% of operating expenditures. The city has a resolution to keep aside funds for emergency purposes at 10% of the subsequent year's WWWSTANDARDANDPOORS.COM/MTINGSDIRECT MAY 28, 2014 1322798 1300001296 Summary: Boynton Beach Community Redevelopment Agency, Florida Boynton Beach; Appropriations general fund budget. Management expects to draw down approximately $1.6 million from available reserves, which will reduce budgetary flexibility to 13.6% of operating expenditures in fiscal 2014. Weak budgetary performance Boynton Beach's budgetary performance is, in our opinion, weak overall, with a deficit of 2.5% for the general fund (in fiscal 2013) and a surplus of 2.3% for the total governmental funds (in fiscal 2012). To accommodate some delayed maintenance expenditures, the city has budgeted for an operating deficit of $2.4 million, or 3.5% for the general fund, in fiscal 2014. Management, however, expects to end the year with an operating deficit of $1.6 million due to projected revenues exceeding budgeted amounts. Very strong liquidity What we consider very strong liquidity supports Boynton Beach's finances, with total government available cash to government fund expenditures and cash to debt service at 41% and 6.4x, respectively. Based on past issuance of debt, we believe that the issuer has strong access to capital markets to provide for liquidity needs if necessary. Adequate debt and contingent liability profile Boynton Beach's debt and contingent liability profile, is in our view, adequate. Net direct debt to total governmental funds revenue is 62.8% and total governmental funds debt service to total governmental fund expenditures is 6.5 %. A positive credit factor is the low ratio of net debt to market value of 1.2 %. The city's large pension and other postemployment benefit (OPEB) obligations is a negative credit factor. In fiscal 2012, Boynton Beach met its annual required pension contribution. The contribution and OPEB costs accounted for 15% of the total government expenditures in fiscal 2012. Strong Institutional Framework We consider as strong the Institutional Framework score for Florida cities with revenues or expenditures greater than $250,000. Outlook The stable outlook reflects Standard & Poor's opinion of the city's improving economy and tax base growth after several years of declines, and compliance with its financial reserve policy to sustain strong budgetary flexibility. The city's very strong liquidity provides further stability to the rating. We do not expect to change the rating during the outlook's two -year period. If the city is unable to adhere to its formal fund balance policy and budgetary flexibility and liquidity weaken as a result, we could lower the rating or revise the outlook to negative. Related ritr . Research Related Criteria USPF Criteria: Local Government GO Ratings Methodology And Assumptions, Sept. 12, 2013 Related Research S &P Public Finance Local GO Criteria: How We Adjust Data For Analytic Consistency, Sept. 12, 2013 WWW.STANDARDANDPOORS.COM/RATINGSDIRECT MAY 2, 2014 1322798 1300001296 Summary: Boynton Beach Community Redevelopment Agency, Florida Boynton Beach; Appropriations Complete ratings information is available to subscribers of RatingsDirect at www.globalereditportal.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com_ Use the Ratings search box located in the left column. WWWSTANDARDANDPOORS.COM/ILATINGSDMEC7' MAY 28, 2014 1322795 1 300004296 Copyright © 2014 Standard & Poor's Financial Services LLC, a part of McGraw Hill Financial. All rights reserved. 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S &P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or from obligors. S &P reserves the right to disseminate its opinions and analyses. S &P's public ratings and analyses are made available on its Web sites, www.standardandpoors.com (free of charge), and www.ratingsdirect.com and www,globalereditportal.com (subscription) and www.spcapitaliq.com (subscription) and may be distributed through other means, including via S &P publications and third -party redistributors. Additional information about our ratings fees is available at www. standardandpoors .com /usratingsfees. WWW.STANDARDANDPOORS.COM/P-ATINGSDIRECT SB, 2014 5 1322798 1300001296 MEETING BOYN N' To 'CRA CRA BOARD June 10, 2014 Y Consent Agenda I X Old Business New Business Public Hearing Other SUBJECT: Consideration of Conceptual Designs for the Federal Highway Entry Signage Project, North location. SUMMARY: The CPA Board approved funding in the FY 2013 -2014 budget for the redesign and construction of the existing Boynton Beach entry signage and landscaped areas at the southern and northern Federal Highway corridors. The scope of work for the project was to focus on a new design image for the City and CPA District as well as provide landscaping and lighting enhancements at these sign locations. In January 2014, CRA staff engaged the CRA's Professional Services Engineering Consultants, Kimley Horn & Associates to assist the CRA with sign, landscaping and lighting design & engineering as well as navigating through the requirements for these items under FDOT permitting standards and guidelines. Kimley Horn staff provided CRA & City staff with various design concepts for review and discussion. These conceptual design review meetings were conducted from mid - February through the middle of May. The CRA and City staff review team included Vivian Brooks, Michael Simon, Lori LaVerriere, Jeff Livergood, Glenda Hall and Eleanor Krusell. At their May 13, 2014, meeting, the CRA Board approved Sign Concept One (see Attachment I) for the South Federal Highway median location and directed staff to continue to develop this concept for use at the City's existing coral wall entry signage location on Federal Highway just north of the C -15 canal. After review and discussion of the two concepts being presented, CRA and City staff are recommending Concept B (see Attachment II) to the CRA Board for approval in order to continue forward into the materials selection, construction design and accompanying landscape & lighting design phase of the project. FISCAL ACT: Funding is budgeted in Account # 02 -58200 -402 CRA LAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Downtown Vision & Master Plan, Federal Highway Corridor Plan. RECOMMENDATIONS: Approval of Concept B for the North Federal Highway Entry Signage design in order to continue forward into the materials selection, construction design and accompanying landscape & lighting design phase of the project. Michael Simon, Assistant Director T:%AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS1Completed Agenda Item Request Forms by Meeting\FY 2013 - 2014 Board Meetings \May 20141Ertry Signage Project - Design options.docx ATTACHMENT I t f 444 � ye m z i i ffi h �3 {f - a OEM �i � tt �3 �� 4 �sitsUr�z,, a ss ,t i r s " � r � �u j It N ' qtr �Nrs _: l r. I 1 4 0 Ila P4 � r t�7tuis „��ts �� ti � h ��9 s f� i i i %f CRA Board approved sign concept for the South Federal Highway location ATTACHMENT 11 ft i 1 r •� 1 �. �+1�":h. i s f (� ti - { t t sf � ` y t �s � 0A �+N t s -, d s Art _ f u SSA t s! s SfM1 tt fi � ' fir i k •� � 7�` }� �mf tl \t 7 s lhy� � �l f % - A ��,� t; f s �'F �� __ UL h uS� p i i z OVA k` � l ,i ,� 1 S {} n j s'P'��i� } - i A }Z i 1 4 tt c�ii� s i o� l � tS hf ,.. =5 - 11 I { t .,a 4 �` y 4 \+rr $trf ttir' 4 rnCY t t� t �ittr� }tt � i tr"� t i} it } r { } `� r r J tr�bt a v } (ui � � •� � r},tari kc ! � � � �' �"f ?� ; 'M1 }d �� 1a`tr{ t� a � }�E } ; Ft 4 � ��t�� , +i !,S t 4 r } ti CO 0 t r� a�• t r - ,..,.w., � '�7 sVl F � t r� 1 4� » �, w r. r• - i - + � r I �,�� 1 °. p ° °�� ,_.� �h t a 'i } -- � tlrt{ t � n - ' Sr 1 1 I 1 i 1 � ==4 11 t> r jfiil t � } i k y r 1 1 + Sll t ) � h I i ° yy 7 4 4t „ U j4 i 4t, n r o- n Sr BOYNTO, � O tt , { rf� %ter }i mono CRA BOARD MEETING OF June 10, 2014 41IiSen� Agenda I ld Business I New Business Legal Information Only SUBJECT: Consideration of Resolution No. 14 -04 and Interlocal Agreement with the City of Boynton Beach for Technical Support to the CRA SUMMARY The Interlocal Agreement for Technical Support ( "Agreement ") retains the City's I.T.S. Department in providing the CRA with technical support services in connection with the day -to -day operations of the CRA. This agreement shall be for an initial term of three (3) years, with the option to be renewed for two (2) additional three (3) year terms. The City's Information Technology Services (ITS) Department has been providing technical support for the CRA since 2006 under a previous Interlocal Agreement. The original agreement contained language to allow for two extensions of the original agreement, which were both exercised. Since the original agreement did not allow for additional extensions, a new agreement is now necessary. The new agreement is similar to the previous agreement in that it contains an initial three (3) year term, with options to extend it for two (2) additional three (3) year terms with fee increases of 3% per annum. The new Agreement will begin February 1, 2015 with fees as shown below. Year 1 2/1/15 — 1/ $23,486 Year 2 2/11/16 — 1/ 24,190 Year 3 2/1/17 — 1/31/18 $24,916 FISCAL IMPACT: Will be budgeted in FY 2014 -2015 CRA PLAN, PRO OR PRO J E CT: Administrative COMMENDATIONS /OPTIONS: Approval of Resolution No. 14 -04 and Interlocal Agreement for Technical Support to begin February 1, 2015 Susan Harris Finance Director RESOLUTION NO. 1- A RESOLUTION OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, AUTHORIZING THE EXECUTION OF AN AGREEMENT FOR TECHNICAL SUPPORT BETWEEN THE BOYNTON EACH COMMUNITY REDEVELOPMENT AGENCY AND THE CITY OF BOYNTON BEACH; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Boynton Beach Community Redevelopment Agency (CRA) and the City of Boynton Beach (City) entered into an Interlocal Agreement for Technical Support on February 28, 2006 for an initial term from February 1, 2006 through January 31, 2009 and two three -year extentions, both of which have been exercised with an end date of January 31, 2015; and WHEREAS, the Board of the CRA, upon recommendation of staff, desires to enter into a new agreement for Technical Support with the City NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY THAT: SECTION 1. The foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this Resolution upon adoption hereof. SECTION 2. The CRA Board does hereby approve the Agreement between the CRA and the City, providing for technical support in connection with the day -to -day governmental operations of the CRA. SECTION 3. The new Agreement will begin February 1, 2015 for an initial three (3) year term from February 1, 2015 through January 31, 2018. CRA payments to the City for technical support during the initial three (3) year term shall be as follows: Year 1 211/15 — 1131116 $23,486 Year 2 211116 — 1131117 $24,190 Year 3 2/1117 — 1131118 $24,916 SECTION 4. A copy of this Resolution shall be affixed to the original Agreement on file and incorporated herein by reference. SECTION 5. This Resolution shall become effective immediately upon passage. PASSED AND ADOPTED BY THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY BOARD, THIS 10TH DAY OF JUNE 2014. BOYTON BEACH COMMUNITY REDEVELOPMENT AGENCY By: Jerry Taylor, Chair Approved as to form: Kenneth i 'a CRA Attorney INTERLOCAL AGREEMENT FOR TECHNICAL SUPPORT THIS INTERLOCAL AGREEMENT, made and entered into this day of , 2014, by and between: COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BOYNTON BEACH, FLORIDA, a public agency, having the address, 710 North Federal Highway, Boynton Beach, Florida 33435 (hereinafter referred to as "CRA "), and CITY OF BOYNTON BEACH, FLORIDA, a municipal corporation, having the address, 100 East Boynton Beach Boulevard, Boynton Beach, Florida 33435 (hereinafter referred to as "CITY "). WHEREAS, at its meeting of , 2014, the City of Boynton Beach approved entering into this Agreement with the CRA, providing for the provision of technical support services by CITY to the CRA; and WHEREAS, at its meeting of _ , 2014, the CRA approved entering into an Agreement with CITY; and NOW, THEREFORE, IN CONSIDERATION of the mutual covenants and conditions herein expressed and of the faithful performance of all such covenants and conditions, CRA and CITY do mutually agree as follows: I PROJECT DESIGNATION. CITY is retained by the CRA to perform computer technical services in connection with the day -to -day governmental operations of the CRA. 2. SCOPE OF SERVICES. CITY agrees to perform the services, identified in the document, entitled, "Client Agreement and, Conditions for CRA Technical Services," which is attached hereto and made a part hereof as Exhibit "A ". All materials, equipment, and supplies necessary for CITY to perform said services shall be the responsibility of CRA. CRA shall use its best efforts in cooperating with CITY in providing the information and documentation necessary to CITY in the performance of the Technical Services under this Agreement. 3. TERM. This Agreement shall take erect upon the termination of that certain Interlocal Agreement for Technical Support dated February 28, 2006, approved by the City in Resolution R06 -053 and twice since extended by the Parties for two three year extensions, the second of which is reflected in and approved by CRA resolution No. 11 -06 ( "Effective Date "). This Agreement shall be for an initial terra of three (3) years and may be renewed by the parties for two (2) additional three (3) year terms. This Agreement shall terminate upon mutual agreement of the parties hereto or upon thirty (30) days written notice of intent to terminate from one party to the other. 4. PAYMENT. CITY shall be paid by the CRA for services rendered under this Agreement as follows: a. CITY shall be paid the sum of Twenty Three Thousand Four Hundred Eighty Six ($23,486.00) Dollars for the first year of this Agreement. b. CRA shall pay the annual amount owed to CITY, in four equal installments at the beginning of each quarter. The first quarter shall begin on the first (I day of the month following the month in which the written notice to proceed as provided for in Section 3 is given. The CRA shall pay, and the CITY may invoice payments to facilitate fiscal year end billing. C. The annual payment to CITY shall increase by three (3 %) percent for each year during the term of the agreement and any renewal terms. Said increase shall be effective on February 1" each annual anniversary of this Agreement. d. Payment as provided in this section shall be full compensation for work performed, services rendered. e. The parties agree that should the demands on CITY increase as a result of additional work stations, additional employees of the CRA, or changes to the CRA Hardware and Software Inventory, the CRA and CITY shall renegotiate the annual fee paid under this Agreement upon receipt of a written request from CITY to renegotiate. 5. COMPLIANCE WITH LAWS. CITY agrees to perform the services contemplated by this Agreement, and faithfully observe and comply with all federal, state, and local laws, ordinances and regulations that are applicable to the services to be rendered under this Agreement. 6. GOVERNMENTAL I UNITY. a. CITY is a state agency as defined in Chapter 768.28, Florida Statutes, and CRA is a public agency created pursuant to Chapter 163, Florida Statutes. To the extent permitted by law, each party agrees to be fully responsible for acts, omissions, and negligence of their agents, officers, or employees. Nothing herein is intended to serve as a waiver of sovereign immunity by any party to which sovereign immunity may be applicable. Nothing herein shall be construed as consent by a state agency or political subdivision of the State of Florida to be sued by third parties in any matter arising out of this Agreement or any other contract. b. Both parties acknowledge that this is an Interlocal Agreement created pursuant to 2 Section 163.01, Florida Statutes, and that each party shall retain all legislative authority with regard to its respective governing body. All of the privileges and immunities from liability, exemptions from laws, ordinances, and rules; pensions and relief, disability, workers' compensation, and other benefits which apply to the activity of officers, agents or employees of any public agency when performing their respective functions within the territorial limits for their respective agency shall apply to the same degree and extent to the performance of such functions and duties of those officers, agents, or employees extra - territorially under the provisions of any Interlocal Agreement. 7. INDEPENDENT CONTRACTOR STATUS. a. CITY and its employees, subcontractors, volunteers and agents, shall be and remain independent contractors and not agents or employees of CRA with respect to all of the acts and services performed by and under the terms of this Agreement. This Agreement shall not in any way be construed to create a partnership, association or any other kind of joint undertaking or venture between the parties hereto. b. CRA will not be responsible for reporting or paying employment taxes or other similar levies which may be required by the United States Internal Revenue Service or other state agencies. S. NON - DISCRIMINATION AND EQUAL OPPORTUNITY EMPLOYMENT_. During the performance of the Agreement, CITY shall not discriminate against any employee or applicant for employment because of race, religion, color, sex or national origin. CITY will take affirmative action to ensure that employees are treated during employment, without regard to their race, creed, color, or national original. Such action must include, but not be limited to, the following: employment, upgrading; demotion or transfer; recruitment or recruitment advertising, layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. CITY shall agree to post in conspicuous places, available to employees and applicants for employment, notices to be provided by the contracting officer setting forth the provisions of this non - discrimination clause. 9. NON-EXCLUSIVITY. This Agreement is considered a non - exclusive Agreement between the parties. The CRA shall have the right to purchase the same kind of services to be provided by CITY hereunder from other sources during the term of this Agreement. 10. ASSIGNMENT. CITY shall not sublet or assign any of the services covered by this Agreement without the express written consent of the CRA. 11. NON - WAIVER. Waiver by the CRA of any provision of this Agreement or any time limitation provided for in this Agreement shall not constitute a waiver of any other provision. 3 12. TERMINATION. This Agreement may be terminated for convenience or cause by either party by providing thirty (30) days notice to the other party. Should termination be for convenience, termination shall be without liability to the terminating party. In the event of any termination, CITY shall be paid the pro rata sum for services performed, or if prepaid, CITY would return to the CRA the pro rata sum paid in advance. 13. DISPUTES. In the event that a party has a dispute with respect to the other party's performance hereunder, the party shall notify the other party in writing in accordance with Article 14, advising of the disputed matter. In the event that the disputed matter is not resolved to the satisfaction of the CRA and the City, the dispute shall be submitted to a mediator mutually agreed to by the parties before any litigation is brought. 14. NOTICES. Notices to the CRA shall be in writing and sent via U.S. Mail to the following address: CITY OF BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY 710 North Federal Highway Boynton Beach, FL 33435 ATTN: Vivian Brooks, Executive Director With copy to: CRA Attorney c/o Lewis, Longman & Walker, P.A. 515 North Flagler Drive, Suite 1500 West Palm Beach, FL 33401 Notices to CITY shall be sent to the following address: CITY OF BOYNTON BEACH P.O. BOX 310 BOYNTON BEACH, FL 33425 -0310 ATTN: John McNally, ITS Manager With copy to: City Attorney 100 East Boynton Beach Boulevard Boynton Beach, Florida 33435 15. SEVERABILIT The invalidity, illegality, or unenforceability of any provision of this Agreement, or the occurrence of any event rendering any portion or provision of this Agreement void, shall in no way affect the validity or enforceability of any other portion or 4 provision of the Agreement. Any void provision shall be deemed severed from the Agreement and the balance of the Agreement shall be construed and enforced as if the Agreement did not contain the particular portion or provision held to be void. The parties further agree to reform the Agreement to replace any stricken provision with a valid provision that comes as close as possible to the intent of the stricken provision. 16. INTEGRATED AGREEMENT. This agreement, together with attachments or addenda, represents the entire and integrated agreement between CITY and the CRA and supersedes all prior negotiations, representations, or agreements written or oral. This agreement may be amended only by written instrument signed by both CITY and CRA. 17. AMENDMENTS. It is further agreed that no modification, amendment or alteration in the terms or conditions contained herein shall be effective unless contained in a written document executed with the same formality and of equal dignity herewith. 18. CHOICE OF LAW; WAIVER OF JURY TRIAL. Any controversies or legal problems arising out of this transaction and any action involving the enforcement or interpretation of any rights hereunder shall be submitted to the jurisdiction of the State courts of the Fifteenth Judicial Circuit of Palm Beach County, Florida, the venue situs, and shall be governed by the laws of the State of Florida. In the event any causes of action arising out of this Agreement are pre - empted by federal law, any such controversies shall be submitted to the jurisdiction of the United States District Court for the Southern District of Florida. To encourage prompt and equitable resolution of any litigation that may arise hereunder, each party hereby waives any rights it may have to a trial by jury of any such litigation. 19. BENEFITING PARTIES. This Agreement is intended to benefit the parties to this Agreement. The parties agree that there are no third party beneficiaries to this Agreement and that no third party shall be entitled to assert a claim against either party based upon this Agreement. The parties expressly acknowledge that it is not their intent to create any rights or obligations in any third person or entity under this Agreement. 20. CONSTRUCTION OF AGREEMENT. The terms and conditions herein are to be construed with their common meaning to effectuate the intent of this Agreement. All words used in the singular form shall extend to and include the plural. All words used in the plural form shall extend to and include the singular. All words in any gender shall extend to and include all genders. 21. APPLICABILITY OF FLORIDA'S LAW. The parties acknowledge and understand that the rules, regulations and statutes regarding public records are applicable to this Agreement and the services provided thereunder. CRA understands that public records as defined in Chapter 119, Florida Statutes, created with CRA computer equipment, software and hardware, including but not limited to e -mail and internal memoranda, constitute public records under the laws of the State of Florida, and are subject to disclosure unless otherwise exempt. 5 22. RECORDING. This Agreement shall be recorded in the public records of Palm Beach County, in accordance with the Florida Interlocal Cooperation Act of 1969. 23. MODIFICATION. It is further agreed that no modifications, amendments or alterations in the terms or conditions contained herein shall be effective unless contained in a written document executed with the same formality and of equal dignity herewith IN WITNESS OF THE FOREGOING, the parties have set their hands and seals this day of 2014. BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY By: Print name: Chairman ATTEST: ...— .. -. — .-.-.-.-. . ....... _ ..............._... � __ Print name: Secretary Approved as to form: Kenneth G. Spillias, CRA Attorney CITY OF BOYNTON BEACH Lori LaVerriere, City Manager Attest: . Janet Prainito, City Clerk (CITY SEAL) Approved as to form: Office of the City Attorney DNT:dnt SX- AIAGMTSIITSICRA Technical Services - 2306.doc 6 Exhibit A Client Agreement and Conditions for CRA Technical Services The City of Boynton Beach Information Technology Services Departments (1 I S) and the Community Redevelopment Agency (CRA) has entered into a technical support agreement to provide technical support for the CRA Director and staff members. Technical support will include support for the CRA's server and storage, firewall, router, network equipment, personal computers, printers and peripherals, City of Boynton Beach enterprise software (Active Directory, Exchange email, SunGardIHTE Naviline, etc.) and CRA specific software. Support will also include use of"the UIS -Division's ESRI software and access to GIS staff for training, education and support of ESRI and other GIS -based software. Other services such as use of the City's security policies, anti -virus software, Windows automatic update policies will apply to the CRA computing and network environment. Technical support services include unlimited technical support during normal business hours (Monday through Friday, 8:00 AM to 5:00 PM), as well as access to ITS on -call personnel for emergency issues during non - normal business hours. The City of Boynton Beach will utilize change management policy to address any configuration changes to the CRA servers, PCs, peripherals, printers, and network environment. Technical support response and resolution parameters are based on problem severity and impact on business operations. Our service level agreement parameters are listed below and will be adhered to by our staff for this support engagement. Severity Code Customer Impact Service Response to Customer Resolution Time 1- Critical Business Halted Updates every 30 minutes Until Fixed - Urgent Business Impacted 2 -4 Hours 4 hours - Importa Non - Critical 1 -3 Days 1 -3 Days 4 -Re q uest Normal Business -5 Days 30 Days BOYN 9QBEAC w u RA CRA BOARD MEETING OF* June 1, 2014 I Consent agenda I( Old Business I x I New Business I I Legal Information Only SUBJECT: Consideration of Standard Vendor Agreement and Entertainment Agreement for Events SUMMARY: With increased attendance at all CRA events including the annual Pirates event, the CRA has been booking a significant addition of entertainment acts and vendors. Previous agreements were fragmented and did not include the latest insurance or legal requirements. With the Pirates and Holiday events quickly approaching, staff requested that legal draft standardized agreements that can be used for all entertainment acts as well as retail vendors. The attached two standardized agreements are attached for the Board's review and approval. FISCAL IMPACT: Not applicable CRA LAN, PROGRAM OR PROJECT: All CRA Plans and Programs RECOMMENDATIONS/OPTIONS: Approve Standard Vendor Agreement and Entertainment Agreement Susan Harris Finance Director BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY STANDARD VENDOR AGREEMENT This Standard Vendor Agreement (hereinafter "Agreement ") is made by and between (hereinafter the "Vendor ") and the Boynton Beach Community Redevelopment Agency, a municipal corporation located at 710 N. Federal Highway, Boynton Beach, Florida 33435 (hereinafter, the "CRA ") (collectively the "Parties "). WHEREAS, the CRA is in need of vendors for , which will take place at the time and location described below, (hereinafter "Event "); and WHEREAS, the Event will be held for a proper municipal purpose and is in the interest of the public; and WHEREAS, the Vendor has the desire, products, knowledge, ability, and equipment to sell its products at the Event; NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, the sufficiency of which both Parties acknowledge, the Parties agree as follows: 1) Incorporation. The recitals above and all other information above are hereby incorporated herein as if fully set forth. 2) Notice and Contact. a. Contact Person for the Vendor: Business Name: Address: Telephone Number: Email Address: Others that will be present at booth: b. Contact Person for CRA (hereinafter "Program Coordinator "): Name: Address: Telephone Number: Email Address: 3) Description of Items to be Sold: 00334664 -1 Page I of 9 (hereinafter " roducts "). NOTE: Only the products listed above and approved by the CRA will be allowed for sale. Any Vendor selling products not listed above and not approved by CRA must stop selling those products immediately and /or be banned from the Event. All changes and additions to products lists must be submitted in writing and approved by the CRA before they can be sold at the Event. 4) Dates and Times: Date: Between the hours of: , 2 and Other /Recurrence: 5) Approximate length of Event. hours and minutes b) Location. 7) Number of Booth Spaces Requested: ❑ 1 ❑ 2 ❑ 3 Other: (hereinafter, the "Space ") Vendors will be charged for the number of booth spaces provided. S) Items Provided by CRA: Tables (Size: ____X (limit Chairs (Size: (limit Electrical Outlets ($ extra each) (limit 00334664 -1 Page 2 of 9 Vendor shall not use generators or "multipliers" in the electrical outlets. Any and all alternative power provision methods or uses must be approved by the CRA prior to use. Vendors requiring electricity must notify the CRA and pay for the electricity contemporaneously with the Vendor fees under this Agreement. No assistance will be available at the Event to trouble -shoot electrical issues. Power outages at the Event are beyond the CRA's control and the CRA assumes no responsibility for power outages. If Vendor is consuming excessive electrical power, as determined by the CRA, the Vendor may be required to purchase additional electricity or cease its consumption of the excessive electricity. 9) Fees. Vendor will pay $ per (Event/season). The CRA must receive the payment by 5:00 p.m. on Vendor accepts all risks associated with inclement weather conditions and any low attendance associated with weather conditions. 10) Weather Conditions and Low Attendance. The CRA will notify Vendor as soon as possible if the Event will be cancelled due to weather conditions. There will be no make up days for days that are cancelled for weather - related reasons, or on low attendance days. 11) Documentation. Vendor affirms that it will produce all documentation necessary to prove its vendor status upon request. 12) Security. There will be security personnel present at the Event. Vendor understands that the presence of these security personnel does not mean that the CRA is responsible or in any way liable for theft or other incidences that may occur at the Event. Vendor acknowledges that the presence of security personnel does not guarantee safety or security of Vendor, Vendor's personnel, or Vendor's products. 13) Terms of Vending. The Vendor shall sell its Products described above for the Event. The Vendor shall begin promptly at the start times listed above, and sell its Products only within the Date(s) and Time(s) described above. Reasonable variances from the Date(s) and Time(s) are permitted for acceptable reasons. The CRA has sole and absolute discretion as to what constitutes a "reasonable variance" and what constitutes an "acceptable reason." 14) Attendance. Vendors who do not provide 24 hours notice of cancellation will be considered "no shows" and will not be eligible to return during the (year /season) for any further scheduled dates. Unless the CRA notifies the Vendor of a cancellation, Vendor should assume the Event is still occurring, even if Vendor predicts that the Event will be cancelled for weather conditions. Vendor understands that its failure to cancel its reserved site or notify the CRA of its late arrival (after a.m. /p.m.) may result in the Space being assigned to another vendor. If a different space is available, Vendor may, but is not guaranteed to, be assigned to another location. Vendor understands the CRA will not refund previously paid fees by Vendor in the event of Vendor "no show." 00334664 -1 Page 3 of 9 15) Decorations, Equipment, Etc. The Vendor is encouraged to decorate Vendor's Space. The Vendor is responsible for all of its own decorations, equipment transportation, set -up, and break -down; and anything else necessary to sell its Products shall be provided by and at the expense of the Vendor. Vendor agrees to keep the Space attractive and to clean it at the close of the Event. The CRA must approve all tents prior to setup and use, and all tents must be anchored sufficiently to withstand the wind and weather conditions during the Event. The Vendor shall leave the site and the Space in a condition equal to that prior to the Event. The CRA shall not be responsible for any equipment or other property of Vendor brought to or left on CRA property. Vendor agrees not to set up the Space prior to (a.m. /p.m.), and agrees not to tear down or pack up the Space prior to (a.m. /p.m.). Vendor understands that the CRA has the right to control the "aesthetics" of the Event. Vendor agrees to keep its display, decorations, equipment, Products, and other materials inside the Space. All Vendor activity related to the Event outside of the Space is strictly prohibited. 16) Propriety. 'the Vendor shall ensure that during the Event and while selling its Products, Vendor and Vendor's personnel will restrain from swearing, lewd actions, or lewd comments. Vendor agrees to be honest and at all times conduct himself/herself /itself in a courteous manner. Discriminatory, rude, abusive, offensive, or other disruptive conduct is strictly prohibited. Vendor shall not hawk, bark, or shout in a loud or aggressive manner to Event attendees in an attempt to sell the Products. 17) No Smoking. Vendor will not smoke within the boundaries of the Event. 18) Personnel. Vendor represents that Vendor has, or will secure at Vendor's own expense, all necessary personnel required to sell its Products pursuant to this Agreement. Such personnel shall not be employees of, or have any contractual relationship with, the CRA. All of the sales of Products shall be performed by the Vendor, or under Vendor's supervision, and all personnel engaged in performing the services shall be fully qualified and, if required, licensed or permitted under state and local law to sell Vendor's Products. Vendor is responsible for having all those associated with the Vendor, Space, Products, or otherwise associated with the Vendor at the Event, including Vendor's children, adhere to the terms of this Agreement. 19) Animals. No animals shall be allowed at the Event without the prior permission from the CRA. The Vendor is responsible for keeping the animal under control at all tinges. The Vendor assumes full responsibility for any injury or property damage caused by the animal. 20) Vehicles. All vehicles belonging to Vendor or Vendor's personnel shall park in the assigned vendor parking area prior to the start of the Event, if vendor parking exists for the event. 00334664 -1 Page 4 of 9 21) Finances. Vendor is responsible for bringing its own change, bank box, and making all other necessary financial arrangements for the sale of its Products and for securing monies received by the Vendor at the Event. 22) Content, Logistics, Etc. The Vendor understands that the CRA has sole and absolute discretion as to the selling of Products and propriety of the Vendor. The Vendor also understands that the CRA has final and complete control of the method, manner, means, scheduling, placement, and other logistical considerations at the Event. 23) Cancellation. The CRA reserves the right to cancel or postpone the Event for any reason and the CRA may, in its sole and absolute discretion, choose to refund fees for events that were cancelled or postponed for reasons other than weather conditions. In the event of any cancellation or postponement by CRA, the CRA will endeavor to notify the Vendor as soon as practicable prior to the Event. The Vendor or agent must notify the CRA immediately of any reason which might result in Vendor's failure to attend on the scheduled date. The CRA reserves the right to approve /substitute any other vendor for Vendor in the event that Vendor is not able to attend as scheduled. Upon termination, this Agreement shall have no further force or effect and the parties shall be relieved of all further liability, except that the provisions of this Section shall survive termination of this Agreement and remain in full force and effect. 24) Default. The failure of the Vendor to comply with the provisions set forth in this Agreement shall constitute a default and breach of this Agreement. In the event of default or breach, the CRA may terminate this Agreement. In the event that the Vendor is not ready to set up its Space or sell its Products at the scheduled time; or if the Vendor or its personnel arrive at the performance in such a condition as to appear to a reasonable person to be incapable of performing in a reasonably acceptable manner; then the Vendor is deemed to have committed a material breach of this Agreement and the CRA shall have the absolute right in its sole discretion to cancel the Vendor or terminate any sale in progress. Under such circumstances Vendor will not be entitled to a refund of any fees. 25) Waiver. The CRA shall not be responsible for any property damages or personal injury sustained by the Vendor from any cause whatsoever related to the Event, whether such damage or injury occurs before, during, or after the Event. The Vendor hereby forever waives, discharges, and releases the CRA, its agents, and its employees, to the fullest extent the law allows, from any liability for any damage or injury sustained by the Vendor. This waiver, discharge, and release specifically includes negligence by the CRA, its agents, or its employees, to the fullest extent the law allows. 26) Indemnification. The Vendor shall indemnify, save, and hold harmless the CRA, its agents, and its employees from any liability, claim, demand, suit, loss, cost, expense or damage which may be asserted, claimed, or recovered against or from the CRA, its agents, or its 00334664 -1 Page 5 of 9 employees, by reason of any property damages or personal injury, including death, sustained by any person whomsoever, which damage is incidental to, occurs as a result of, arises out of, or is otherwise related to the negligent or wrongful conduct, the faulty equipment (including equipment installation and removal), or the animal of the Vendor. Nothing in this Agreement shall be deemed to affect the rights, privileges, and sovereign immunities of the CRA as set forth in Section 768.28, Florida Statutes. This paragraph shall not be construed to require Vendor to indemnify the CRA for its own negligence, or intentional acts of the CRA, its agents or employees. Each party assumes the risk of personal injury and property damage attributable to the acts or omissions of that party and its officers, employees and agents. 27) No Transfer. Vendor shall not subcontract, assign, or otherwise transfer this Agreement to any individual, group, agency, government, non -profit or profit corporation, or other entity. 28) Insurance. The Vendor shall obtain all insurance required by the CRA and provide proof thereof at least 10 days prior to the Event. The Insurance must remain in force for so long as is necessary to cover any occurrence relating to, resulting from, or arising out of the Event or this Agreement. The CRA is to be included as "Additional Insured" with respect to liability arising out of services performed by the Vendor by or on behalf of the CRA or acts or omission of the Vendor in connection with selling Vendor's Products pursuant to this Agreement. The Certificate must include the following additional insured language: Boynton Beach Community Redevelopment Agency 710 N. Federal Highway Boynton Beach, Florida 33435 29) No Discrimination. The Vendor shall not discriminate against any person on the basis of race, color, religion, ancestry, national origin, age, sex, marital statues, sexual orientation or disability for any reason in its hiring or contracting practices associated with this Agreement or the Event. 30) No Partnership, Etc. The Vendor agrees nothing contained in this Agreement shall be deemed or construed as creating a partnership, joint venture, or employee relationship. It is specifically understood that the Vendor is an(a) independent contractor(s) and that no employer /employee or principal /agent is or shall be created nor shall exist by reason of this Agreement or the selling of the Products. 31) Health and Safety. The Vendor shall take the proper safety and health precautions to protect Event attendees, the CRA, the Vendor and Vendor's personnel, the public, the property and products of others, and will be responsible for all damage to persons and/or property that occur as a result of the Vendor's negligence or misconduct. Vendor will exercise its own judgment in matters of safety for itself and attendees of the Event. The Vendor attests that it possesses a current personal accident and or personal health insurance policy. If Vendor is preparing food in the Space, Vendor must have a fully functional fire extinguisher, appropriate for the Vendor's activities, readily available inside the Space at all times. Vendor understands it will not be allowed to participate in the Event without an appropriate fire extinguisher. 00334664 -1 Page 6 of 9 32) Promotional Materials. The Vendor agrees that the CRA may photograph and /or record video and audio of the Event, including Vendor and Vendor's Products, and that such photographs and recordings may be (i) used for the purposes of promotion of the Event or future events; (ii) transmitted live or by recording on local television and radio channels. The Vendor agrees that the Event, including information about the Vendor and the Products, can be advertised prior to subsequent to the Event. Vendor expressly consents to the use of Vendor's children's names and photographs in such promotional materials. The CRA shall attribute the Products to the Vendor. 33) No Exclusivity. Vendor understands that it is not guaranteed the exclusive right to sell any one Product, and that other vendors may be selling the same or similar products. 34) No Infringement. The Vendor represents that in selling its Products pursuant to this Agreement, the Vendor will not infringe on the property right, copyright, patent right or any other right of anyone else; and if any suit is brought or a claim made by anyone that anything in conjunction with the ownership or the presentation of said Vendor or appearance as part of the Event is an infringement on the property right, copyright, patent right, or other rights, the Vendor will indemnify the CRA against any and all loss, damages, costs, attorney fees or other loss whatsoever. The Vendor shall not use the CRA's logos, or marks without the CRA's prior written approval. 35) Entire Agreement. This Agreement represents the entire and sole agreement and understanding between the Parties concerning the subject matter expressed herein. No terms herein may be altered, except in writing and then only if signed by all the parties hereto. All prior and contemporaneous agreements, understandings, communications, conditions or representations, of any kind or nature, oral or written, concerning the subject matter expressed herein, are merged into this Agreement and the terms of this Agreement supersede all such other agreements. No extraneous information may be used to alter the terms of this Agreement. 36) Counterparts and Transmission. To facilitate execution, this Agreement may be executed in as many counterparts as may be convenient or required, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The executed signature page(s) from each original may be joined together and attached to one such original and it shall constitute one and the same instrument. In addition, said counterparts may be transmitted electronically (i.e., via facsimile or .pdf format document sent via electronic mail), which transmitted document shall be deemed an original document for all purposes hereunder. 37) Agreement Deemed to be Dratted Jointly. This Agreement shall be deemed to be drafted jointly and shall not be construed more or less favorably towards any of the parties by virtue of the fact that one party or its attorney drafted all or any part thereof. Any ambiguity found to exist shall be resolved by construing the terms of this Agreement fairly and reasonably in accordance with the purpose of this Agreement. 38) Governing Law, Jurisdiction, and Venue. The terms and provisions of this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of 00334664 -I Page 7 of 9 Florida and the United States of America, without regard to conflict of law principles. Venue and jurisdiction shall be Palm Beach County, Florida, for all purposes, to which the Parties expressly agree and submit. 39) Independent Advice. The Parties declare that the terms of this Agreement have been read and are folly understood. The Parties understand that this is a binding legal document, and each Party is advised to seek independent legal advice in connection with the matters referenced herein. 40) Severability. If any part of this Agreement shall be declared unlawful or invalid, the remainder of the Agreement will continue to be binding upon the parties. 41) Voluntary Waiver of Provisions. The CRA may, in its sole and absolute discretion, waive any requirement of the Vendor contained in this Agreement. 42) Public Records. The CRA is a public agency subject to Chapter 119, Florida Statutes. The Vendor shall comply with Florida's Public Records Law. Specifically, the Vendor shall: a. Keep and maintain public records that ordinarily and necessarily would be required by the CRA in order to sell its Products and attend the Event as referenced herein; b. Provide the public with access to such public records on the same terms and conditions that the CRA would provide the records and at a cost that does not exceed that provided in Chapter 119, Florida Statutes, or as otherwise provided by law; c. Ensure that public records that are exempt or that are confidential and exempt from public record requirements are not disclosed except as authorized by law; and d. Meet all requirements for retaining public records and transfer to the CRA, at no cost, all public records in possession of the Vendor upon termination of the Agreement and destroy any duplicate public records that are exempt or confidential and exempt. All records stored electronically must be provided to the CRA in a format that is compatible with the information technology systems of the CRA. The Vendor also understands that CRA may disclose any document in connection with Vendor or the sale of the Vendors Products pursuant to this Agreement, so long as the document is not exempt or confidential and exempt from public records requirements. 43) Removal from Event. Vendor understands that if it acts unethically or unsafely in connection with the Event, the CRA has the right to immediately and permanently remove the Vendor from the Event and any other scheduled events. 44) Compliance with Laws. In the selling its Products pursuant to this Agreement, the Vendor shall comply in all material respects with all applicable federal and state laws and regulations 00334664 -I Page 8 of 9 and all applicable Palm Beach County, City of Boynton Beach, and CRA ordinances and regulations, including ethics and procurement requirements. Vendor will post in its Space proof of all necessary licenses. 45) Event Rules. Vendor agrees to abide by all rules promulgated by the CRA in connection with the Event. 46) Effective Date and Termination. This Agreement will become effective at the date and time that the last party signs this Agreement. This Agreement will automatically terminate after the Event and payment to the CRA, or on ,whichever occurs first. Nothing in this paragraph shall be construed so as to affect the CRA's right to cancel or postpone the Event or the Vendor's attendance at the Event pursuant to this Agreement. 47) Survival. The provisions of this Agreement regarding the products of the Vendor, promotional rights, infringement, indemnity, waiver, insurance, and cancellation shall survive the expiration or termination of this Agreement and remain in full force and effect. 48) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day and year written below. By: Date: Authorized Representative for Vendor Print Name: By: Date: Authorized Representative for CRA Print Name: 00334664 -1 Page 9 of 9 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY ENTERTAINMENT AGREEMENT This Entertainment Agreement (hereinafter "Agreement ") is made by and between (hereinafter the "Act ") and the Boynton Beach Community Redevelopment Agency, a municipal corporation located at 710 N. Federal Highway, Boynton Beach, Florida 33435 (hereinafter the "CRA ") (collectively the "Parties "). WHEREAS, the CRA is in need of entertainment services for (event), which will tape place at the time and location described below, (hereinafter "Event "); and WHEREAS, the Event will be held for a proper municipal purpose and is in the interest of the public; and WHEREAS, the Act has the knowledge, ability, and equipment to provide entertainment services at the Event; NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, the sufficiency of which both Parties acknowledge, the Parties agree as follows: 1) Incorporation. The recitals above and all other information above are hereby incorporated herein as if fully set forth. 2) Notice and Contact. a. Contact Person for the Act: Business Name: Address: Telephone Number: Email Address: b. Contact Person for CRA (hereinafter "Program Coordinator "): Name: Address: Telephone Number: 3) Description of the Entertainment Services. 00324429 -3 Page 1 of 8 (hereinafter "Entertainment Services "). 4) Dates and Times of performance(s). Dates: Between the hours of: 2 and 20 and Other /Recurrence: S) Approximate length of Entertainment Services. hours and minutes hours and minutes 6) Location. 7) Terms of Entertainment Services. The Act shall provide Entertainment Services described above for the Event. The Act shall begin promptly at the start times listed above, and shall perform only within the Date(s) and Time(s) described above. Reasonable variances from the Date(s) and Time(s) are permitted for acceptable reasons. The CRA has sole and absolute discretion as to what constitutes a "reasonable variance" and what constitutes an "acceptable reason." 8) Compensation. The CRA shall pay the Act a total of $ (hereinafter, "Compensation ") for the performance of the Entertainment Services, which sum shall be paid as follows: Deposit of $ , payable provided that the Act has provided the CRA with the tax forms required by this Agreement; Check Payable to: Business Tax I.D. Number: Balance of $ , payable upon completion of the Entertainment Services, provided that the Vendor has submitted all paperwork required by the CRA. 00324429 -3 Page 2 of 8 Check Payable to: Business Tax I.D. Number: (Deposit and balance collectively referred to hereinafter as "Payment. ") 9) Form of Payment of Compensation. Payment of Compensation upon completion of the Entertainment Services on the day of the performance is dependent upon sufficient time having been allowed for processing of this Agreement. If Payment cannot be made on the day of performance, it shall be made within 45 days thereafter, in accordance with the Local Government Prompt Payment Act, Section 218.70, et al., Florida Statutes. All Payments shall be in the form of a CRA check made payable to the Act, or as indicated above. No payment made under this Agreement shall be conclusive evidence of the performance of this Agreement by the Act, either wholly or in part, and no Payment shall be construed to be an acceptance of or to relieve the Act of liability for the faulty or incomplete rendition of the Entertainment Services. 10) Costumes, Equipment, Etc. All costumes; footwear; makeup; props; equipment transportation, set -up, and break -down; and anything else necessary to provide the Entertainment Services shall be provided by and at the expense of the Act. The Act shall leave the performance site in a condition equal to that prior to performance of the Entertainment Services. The CRA shall not be responsible for any equipment or other property of the Act brought to or left on CRA property. 11) Personnel. Act represents that Act has, or will secure at Act's own expense, all necessary personnel required to perform the Entertainment Services under this Agreement. Such personnel shall not be employees of, or have any contractual relationship with, the CRA. All of the Entertainment Services shall be performed by the Act, or under Act's supervision, and all personnel engaged in performing the services shall be fully qualified and, if required, licensed or pen under state and local law to perform such Entertainment Services. Act warrants that all Entertainment Services shall be performed by skilled and competent personnel in accordance with all applicable federal, state and local professional and technical standards. 12) Vehicles. All vehicles belonging to Act or Act's personnel shall be removed from the event location site and parked in the assigned area prior to the start of the Entertainment Services. 13) Propriety. The Act shall ensure that their performance of Entertainment Services will not contain swearing, lewd actions, or lewd comments, or any behavior, activity, or language unsuitable for the intended public audience. 14) Content, Logistics, Etc. The Act understands that the CRA has sole and absolute discretion as to the content and propriety of the Act. The Act also understands that the CRA has final and complete control of the method, manner, means, scheduling, placement, and other logistical considerations at the Event. The Act shall be allotted reasonable time for meals, bathroom breaks, costume changes, or other reasonable breaks, as applicable. The Act also understands that, with the exception of the Entertainment Services, the CRA retains creative control of all other elements of the event, including but not limited to sound levels, choice of other performers (include master of ceremonies and speakers), performance 00324429 -3 Page 3 of 8 length, lights, amplification, stage sets, and film or video played to the audience during the event. The Act shall have exclusive control of the Entertainment Services provided by the Act. 15) Cancellation. The CRA reserves the right to cancel or postpone the Entertainment Services for any reason and CRA shall not be liable to Act for payment for any Entertainment Services which are cancelled or postponed. In the event of any cancellation or postponement by CRA, the CRA will endeavor to notify the Act as soon as practicable prior to the performance date. If the CRA cancels this Agreement for reasons other than breach by the Act, the CRA shall only be liable for payment of goods received and Entertainment Services rendered and accepted by the CRA prior to the date of notice of cancellation. The CRA will reimburse Act for Act's out -of- pocket expenses related to the performance of this Agreement that were incurred by Act prior to notice of cancellation if such expenses are nonrefundable /non- returnable. However, such expenses of the Act will only be reimbursed to the extent such expenses are in compliance with the terms of this Agreement and to the extent supported by written, itemized and paid invoices submitted by Act to CRA. Any failure of the Act to perform may be excused only for proven sickness or injury, civil tumult or riot, terrorist acts, epidemics, acts of God, or other conditions beyond the control of the Act. The Act or agent must notify the CRA immediately of any reason which might result in Act's failure to perform on the scheduled date. If the Act cancels the performance, the Act shall immediately refund all deposits. The CRA reserves the right to approve /substitute any other performer for Act in the event that Act is not able to perform as scheduled. Upon termination, this Agreement shall have no further force or effect and the parties shall be relieved of all further liability, except that the provisions of this Section shall survive termination of this Agreement and remain in full force and effect. 16) Default. The failure of the Act to comply with the provisions set forth in this Agreement shall constitute a default and breach of this Agreement. If the Act fails to cure the default within seven (7) days of notice from the CRA, the CRA may terminate this Agreement. In the event that the Act is not ready to perform at the scheduled time; or if (a) vital performing member(s) is /are not present; or if the Act or its members arrive at the performance in such a condition as to appear to a reasonable person to be incapable of performing in a reasonably acceptable manner; then the Act is deemed to have committed a material breach of this Agreement and the CRA shall have the absolute right in its sole discretion to cancel the performance or terminate the performance in progress, and to refuse payment accordingly. 17) Waiver. The CRA shall not be responsible for any property damages or personal injury sustained by the Act from any cause whatsoever related to the Event, whether such damage or injury occurs before, during, or after the Event. The Act hereby forever waives, discharges, and releases the CRA, its agents, and its employees, to the fullest extent the law allows, from any liability for any damage or injury sustained by the Act. This waiver, 00324429 -3 Page 4 of discharge, and release specifically include negligence by the CRA, its agents, or its employees, to the fullest extent the law allows. 18) Indemnification. The Act shall indemnify, save, and hold harmless the CRA, its agents, and its employees from any liability, claim, demand, suit, loss, cost, expense or damage which may be asserted, claimed, or recovered against or from the CRA, its agents, or its employees, by reason of any property damages or personal injury, including death, sustained by any person whomsoever, which damage is incidental to, occurs as a result of, arises out of, or is otherwise related to the negligent or wrongful conduct or the faulty equipment (including equipment installation and removal) of the Act. Nothing in this Agreement shall be deemed to affect the rights, privileges, and sovereign immunities of the CRA as set forth in Section 768.28, Florida Statutes. This paragraph shall not be construed to require Act to indemnify the CRA for its own negligence, or intentional acts of the CRA, its agents or employees. Each party assumes the risk of personal injury and property damage attributable to the acts or omissions of that party and its officers, employees and agents. 19) No Transfer. The Act shall not subcontract, assign, or otherwise transfer this Agreement to any individual, group, agency, government, non - profit or profit corporation, or other entity. 20) Insurance. The Act shall obtain all insurance required by the CRA and provide proof thereof at least 10 days prior to the Event, and include, along with an executed copy of this Agreement, a Certificate of Insurance with a liability limit of at least $1,000,000 per occurrence. The Insurance must remain in force for so long as is necessary to cover any occurrence relating to, resulting from, or arising out of the Event or this Agreement. The CRA is to be included as "Additional Insured" with respect to liability arising out of services performed by the Act by or on behalf of the CRA or acts or omission of the Act in connection with providing Entertainment Services pursuant to this Agreement. The Certificate must include the following additional insured language: Boynton Beach Community Redevelopment Agency 710 N. Federal Highway Boynton Beach, Florida 33435 21) Tax Forms. The Act's individual members, including the Act's agents and employees, shall provide the CRA with completed W -9 forms in order receive Payment. The CRA shall provide the Act with an IRS Form 1099 where required under law. The Act further acknowledges that the Act is an artistic performance and the CRA is neither paying Social Security benefits nor withholding taxes from the Act's compensation for the Entertainment Services. The Act assumes all liability and responsibility for payment of the Act's (and the Act's individual members) own FICA and Social Security benefits and all taxes resulting from this Agreement. 22) No Discrimination. The Act shall not discriminate against any person on the basis of race, color, religion, ancestry, national origin, age, sex, marital statues, sexual orientation or disability for any reason in its hiring or contracting practices associated with this Agreement. 00324429 -3 Page 5 of 8 23) No Partnership, Etc. The Act agrees nothing contained in this Agreement shall be deemed or construed as creating a partnership, joint venture, or employee relationship. It is specifically understood that the Act is an(a) independent contractor(s) and that no employer /employee or principal /agent is or shall be created nor shall exist by reason of this Agreement or the performance of Entertainment Services. The Act will exercise its own judgment in matters of safety for itself and attendees of the Event. The Act attests that it possesses a current personal accident and or personal health insurance policy. 24) Promotional Materials. The Act agrees that the CRA may photograph and/or record video and audio of the Entertainment Services, and that such photographs and recordings may be (i) used for the purposes of promotion of the Event or future events; (ii) transmitted live or by recording on local television and radio channels. The Act agrees that the Event, including information about the Act and the Entertainment Services to be provided, can be advertised prior to subsequent to the Event. The Act waives and assigns to the CRA all copyrights under the Copyright Act of 1976, 17 U.S.C. 101, et seq., and all other rights in recorded, photographed, or transmitted versions of the Entertainment Services. The CRA shall attribute the Entertainment Services to the Act. 25) No Infringement. The Act represents that in performing the Entertainment Services under this Agreement, the Act will not infringe on the property right, copyright, patent right or any other right of anyone else; and if any suit is brought or a claim made by anyone that anything in conjunction with the ownership or the presentation of said Act or appearance as part of the Entertainment Services is an infringement on the property right, copyright, patent right, or other rights, the Act will indemnify the CRA against any and all loss, damages, costs, attorney fees or other loss whatsoever. The Act shall not use the CRA's logos, or marks without the CRA's prior written approval. 26) Entire Agreement. This Agreement represents the entire and sole agreement and understanding between the Parties concerning the subject matter expressed herein. No terms herein may be altered, except in writing and then only if signed by all the parties hereto. All prior and contemporaneous agreements, understandings, communications, conditions or representations, of any kind or nature, oral or written, concerning the subject matter expressed herein, are merged into this Agreement and the terms of this Agreement supersede all such other agreements. No extraneous information may be used to alter the terms of this Agreement. 27) Counterparts and Transmission. To facilitate execution, this Agreement may be executed in as many counterparts as may be convenient or required, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The executed signature page(s) from each original may be joined together and attached to one such original and it shall constitute one and the same instrument. In addition, said counterparts may be transmitted electronically (i.e., via facsimile or .pdf format document sent via electronic mail), which transmitted document shall be deemed an original document for all purposes hereunder. 28) Agreement Deemed to be Drafted Jointly. This Agreement shall be deemed to be drafted jointly and shall not be construed more or less favorably towards any of the parties by virtue 00324429 -3 Page 6 of 8 of the fact that one party or its attorney drafted all or any part thereof. Any ambiguity found to exist shall be resolved by construing the terms of this Agreement fairly and reasonably in accordance with the purpose of this Agreement. 29) Governing Law, Jurisdiction, and Venue. The terms and provisions of this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Florida and the United States of America, without regard to conflict of law principles. Venue and jurisdiction shall be Palm Beach County, Florida, for all purposes, to which the Parties expressly agree and submit. 30) Independent Advice. The Parties declare that the terms of this Agreement have been read and are fully understood. The Parties understand that this is a binding legal document, and each Party is advised to seek independent legal advice in connection with the matters referenced herein. 31) Severability. If any part of this Agreement shall be declared unlawful or invalid, the remainder of the Agreement will continue to be binding upon the parties. 32) Voluntary Waiver of Provisions. The CRA may, in its sole and absolute discretion, waive any requirement of the Act contained in this Agreement. 33) Public Records. The CRA is a public agency subject to Chapter 119, Florida Statutes. The Act shall comply with Florida's Public Records Law. Specifically, the Act shall: a. Keep and maintain public records that ordinarily and necessarily would be required by the CRA in order to perform the Entertainment Services referenced herein; b. Provide the public with access to such public records on the same terms and conditions that the CRA would provide the records and at a cost that does not exceed that provided in Chapter 119, Florida Statutes, or as otherwise provided by law; c. Ensure that public records that are exempt or that are confidential and exempt from public record requirements are not disclosed except as authorized by law; and d. Meet all requirements for retaining public records and transfer to the CRA, at no cost, all public records in possession of the Act upon termination of the Agreement and destroy any duplicate public records that are exempt or confidential and exempt. All records stored electronically must be provided to the CRA in a format that is compatible with the information technology systems of the CRA. The Act also understands that CRA may disclose any document in connection with performance of the Entertainment Services or this Agreement, so long as the document is not exempt or confidential and exempt from public records requirements. 003244429 -3 Page 7 of 34) Agent. If this Agreement is signed by the Act's agent, the agent warrants that he /she is duly authorized to act on behalf of the Act, that he /she is authorized to enter into this Agreement, and that the agent and Act are jointly and severally liable for any breach of this Agreement. 35) Compliance with Laws. In the performance of the Entertainment Services under this Agreement, the Act shall comply in all material respects with all applicable federal and state laws and regulations and all applicable Palm Beach County, City of Boynton Beach, and CRA ordinances and regulations, including ethics and procurement requirements. 36) Effective Date and Termination. This Agreement will become effective at the date and time that the last party signs this Agreement. This Agreement will automatically terminate after the performance of the Entertainment Services and payment by the CRA, or on ,whichever occurs first. Nothing in this paragraph shall be construed so as to affect the CRA's right to cancel or postpone the Entertainment Services pursuant to this Agreement. 37) Survival. The provisions of this Agreement regarding the content of the Act, promotional rights, infringement, indemnity, waiver, insurance, agents, and cancellation shall survive the expiration or termination of this Agreement and remain in full force and effect. 38) IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day and year written below. By: Date: Authorized Representative for Act Print Name: By: _ Date: Authorized Representative for CRA Print Name: 00524429 -3 Page 8 of 8 � w BOYN TON pp t CRA BOARD MEETING OF: June 10, 2014 I Consent Agenda I I Old Business I X I New Business Legal ' I Executive Dit ctor's Report SUBJECT: Consideration of Purchase Agreement between Blanche H. Girtman and the CRA for the vacant Lot 11 on MLK Blvd. SUMMARY Blanche H. Girtman is the owner of vacant Lot 11 on MLK Blvd. This vacant lot is of interest to the CRA due to its location in proximity to properties already owned by the CRA and their importance to assemblage for future development on the MLK Corridor. See attached map for property location. The Heart of Boynton Community Redevelopment Plan identifies extensive vacant lots as a major impediment to redevelopment. The plan 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. As can be observed, vacant lots are often not properly maintained and are overgrown. The redevelopment of vacant lots strengthens the neighborhood fabric An appraisal on the property was obtained on April 28, 2014 and is attached. Based on the appraisal, the location of the property in proximity of other properties owned by the CRA and discussions with the owner /owner's representative, the CRA has made an offer of $130,000. See attached Purchase Agreement. FISCAL IMPACT: $130,000 Budget Line Item #02 -58200 -401 CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan Update RECOMMENDATIONSIOPTIONS: Approve the Purchase Agreement with Blanche H. Girtman for vacant Lot 11 on MLK Blvd. in the amount of $130,000. 4 a'x" Tivian L. Brooks Executive Director http://www.pbegov.coni,ipapa!Asps/PropertyDetail/PropertyDetail . asp.. G, Ilko fi TZ r r �' 4 . '?'Y �aP Cc mac )ut Location Address MARTIN LUTHER KING BLVD Municipality BOYNTON BEACH Pzrcel Control Number 08 -43 -45 -21.25 -001 -0110 Subdivision WEBER FRANK ADD TO BOYNTON IN Official Records Book Page Sale Da 1,e Dr cl ip fl m FRANK WEBER ADD LT 11 & E i 1 FT OF LT 12 (LESS S 20 FT R/W 10TH AVE) BLK I Mailing address Owners 9T2 NW 3RD ST GIRTMAN BLANCHE H PO BOX 1552 BOYNTON BEACH FL 33425 1 552 No Sales Information Available. No Exemption Information Available. Number of Units 0 `Total Square Feet 0 Acres 0.1607 Usv Code 1000 - VACANT C2 - Neighborhood Commercial ( 08- BOYNTON COMMERCIAL Zoning BEACH 7 iax Year 2013 2012 2011 Improvement Value $0 50 $0 '-and Value $21,006 $21,006 $42,012 Tota! Market Value $21,006 $21,006 $42,012 All values are as of January 1 st each year "ax: Year 2013 2012 2011 Assessed Value $21,006 $21,006 $42,012 Exemption Amount SO s0 $0 Taxable Value $21,006 $21,006 $42,012 Tax Year 2013 2012 2011 Ad Valorem $477 $476 5954 Non Ad Valorem $0 50 $0 Total tax $477 $476 $954 of 1 4/17/2014 1:40 PM ?APA Maps httpa/ www. pbcgov. coni/ papa/Aspsipapagisipapagis.aspx' ?qvalue =08... BH)a g � S y Search ... V!t . 1 j 01 ' Av Search Results Detail Y _ ., _. u Owners 12th- Ave. GIRTMAN BLANCHE Hlli�'�� ti lt , f A- Property detail NErl th Ave Location MARTIN LUTHER KING BLVD Municipality BOYNTON BEACH Parcel No. 0843452125001 0110 WEBER FRANK ADD TO �)k Subdivision � in �r �� BOYNTON IN g Bork Page ni i Sale Date � j . 912 NW 3RD 5T Mailing PO BOX 1552 Address BOYNTON BEACH EL ,° 33425 1552 I 1000-VACANT « �a '' 7 #1 t1) Av h � Use Ype COMMERCIAL � ( � - Total gym, 1h Avg �, 0 care eet,I ,, ��. Z' A „ te. Tools W Layers Print i Messages �. Instructional `Video t L t1� ' § A. of 1 4117/2014 2:05 PM h � i 6rt 1�� s Oi I 4 4 0 �€1 - t i i t 3 i 1 q 1� } V� Cm ti, � R 1 f , 1 i 51 k i �� AN APPRAISAL OF THE 0.16-ACRE VACANT COMMERCIAL PROPERTY LOCATED ON THE NORTH SIDE OF EAST MARTIN LUTHER KING JR. BOULEVARD 50 FEET EAST OF NORTH SEACREST BOULEVARD IN THE CITY OF BOYNTON BEACH PALM BEACH COUNTY, FLORIDA FILE NUMBER 14 -70909 PREPARED FOR BOYNTON BEACH CPA AS OF APRIL 28, 2014 BY STEPHEN D. SHAW, MAI CALLAWAY & PRICE, INC. U Real Estate Appraisers And Consultants l� www.callawayandprice.com x Licensed Real Estate Brokers Please respond to South Florida office E -Mail: sds@cpwpb.com SOUTH FLORIDA 1410 Park Lane South, Suite 1 May 7, 2014 Jupiter, FL 3345 561.686.0333 1 5 61 . 686 .37 0 5 Fax Michael R. Slade, MAI, SRA, CRE Theresa Utterback Cert Gen RZ116 Administrative Services Manager mrs@ cpwpb.com Boynton Beach CRA Stephen D. Shaw, MAI 710 North Federal Highway Cert Gen RZ119z Boynton Beach, FL 33435 sds(@cpwpb.com TREASURE COAST Dear Ms. Utterback: 1803 South 25 Street, Suite 1 Fort Pierce, FL 34947 772.464.86071772.461.o8ogFax We have made an investigation and analysis of the 0.16 -acre Stuart: 772.287.3330 vacant commercial property located on the north side of East Harry D. Gray, MAI, SRA Martin Luther King Jr. Boulevard, 50 feet east of North Seacrest Cert Gen RZ662 Boulevard, in the City of Boynton Beach, Palm Beach County, h.gray`callawayandprice.com Florida. The Subject Property will be further described both Stephen G. Neill, Jr., MAI narratively and legally within the following Appraisal Report. The Cert Gen RZ2480 s.neill@acallawayandprice.com purpose of this investigation and analysis was to provide our opinion of the Market Value of the Fee Simple Estate of the CENTRAL FLORIDA Subject Property as of April 28, 2014. 114 6th Avenue, Suite 3 Indialantic, FL 32903 This report has been prepared for our client and intended user, 321.726.097o1321,726.0384Fax Boynton Beach CPA. The intended use is to assist the client for Curtis L. Phillips, MAI internal purposes. The scope of work performed is specific to the Cert Gen RZao85 needs of the intended user and the intended use. No other use is clp@cpmel.com intended, and the scope of work may not be appropriate for other uses. The scope of work performed included a complete analysis of the Subject Property. A detailed scope of work description can be found in the body of this report. Based upon the scope of the assignment, our investigation and analysis of the information contained within this report, as well as our general knowledge of real estate valuation procedures and market conditions, it is our opinion that: The Market Value of The Fee Simple Estate of The Subject Property As of April 28, 2014 was: $80, Theresa Utterback Administrative Services Manager Boynton Beach CRA May 7, 2014 Page Two A description of the property appraised, together with an explanation of the valuation procedures utilized, is contained in the body of the attached report. For your convenience, an Executive Summary follows this letter. Your attention is directed to the Limiting Conditions and underlying assumptions upon which the value conclusion is contingent. Respectfully submitted, CALLAWAY & PRICE, INC. Stephen D. Shaw, MAI Cert Gen RZ1192 ti Joe M. Merritt, Associate Appraiser Cert Gen RZ672 SDS /JMM /14 -70909 Attachments Executive Summary PROPERTY TYPE Vacant Commercial Land. LOCATION The Subject Property is located on the north side of East Martin Luther King Jr. Boulevard (aka NE 10 Avenue), 50 feet east of North Seacrest Boulevard, in the City of Boynton Beach, Broward County, Florida. The site currently has no property address. DATE OF VALUATION April 28, 2014 PROPERTY DESCRIPTION: LAND 7,002 square feet or 0.16 acres. BUILDING None. ZONING C2, Neighborhood Commercial, by the City of Boynton Beach LAND USE PLAN LRC, Local Retail Commercial, by the City of Boynton Beach HIGHEST AND BEST USE Future commercial redevelopment. MARKET VALUE OF THE FEE SIMPLE ESTATE OF THE SUBJECT PROPERTY AS OF APRIL 28, 2014 $80,000 { LK „ } Table of Contents Pao . CERTIFICATION ............................................................. ............................... 1 LIMITING CONDITIONS .................................................. ............................... 3 DEFINITION OF THE APPRAISAL PROBLEM ........................ ............................... 7 Purpose, Date of Value, and Interest Appraised ............... ............................... 7 Intended Use and User of Appraisal ............................... ............................... 7 MarketValue .............................................................. ............................... 7 LegalDescription ........................................................ ............................... 8 FeeSimple Estate ....................................................... ............................... 8 ExposureTime ........................................................... ............................... 8 MarketingTime .......................................................... ............................... 9 Hypothetical Conditions ............................................... ............................... 9 Extraordinary Assumptions ........................................ ............................... 10 SCOPEOF WORK ........................................................ ............................... 11 NEIGHBORHOOD DATA ................................................. ............................... 12 PROPERTY DATA .......................................................... ............................... 15 Location.............................. ............................... . 15 .... ............................... Zoning.................................................................... ............................... 15 Land -Use Plan .......................................................... ............................... iS Site Size, Shape and Access ....................................... ............................... 16 Topography............................................................. ............................... 16 Utilities......... ............................... ............... ............................... Easements and Deed Restrictions ................................ ............................... 16 CensusTract ............................................................ ............................... 17 Flood Hazard Zone .................................................... ............................... 17 Assessed Value and Taxes ........................................ ............................... r 17 Concurrency............................................................ ............................... 18 PropertyHistory ....................................... ............................... ...... 18 Improvements......................................................... ............................... 18 HIGHEST AND BEST USE .............................................. ............................... 19 Conclusion............................................................... ............................... 19 LAND VALUE ANALYSIS ................................................ ............................... 21 Sales Comparison Approach ....................................... ............................... 21 Discussion of Vacant Land Sales ................................. ............................... 22 Conclusion............................................................... ............................... 37 ADDENDA Engagement Letter Qualifications: Stephen D. Shaw, MAI Joe M. Merritt, Associate Appraiser L Certification CERTIFICATION We certify that, to the best of our knowledge and belief: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are our personal, impartial, and unbiased professional analyses, opinions, and conclusions. 3. We have no present or prospective interest in the property that is the subject of this report, and we have no personal interest or bias with respect to the parties involved. 4. We have not performed services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three -year period immediately preceding acceptance of this assignment. 5. We have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 6. Our engagement in this assignment was not contingent upon developing or reporting predetermined results. 7. 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. S. The analyses, opinions, and conclusion were developed, and this report was prepared, in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) and The Interagency Appraisal and Evaluation Guidelines, December 10, 2010. g. Stephen D. Shaw, MAI and Joe M. Merritt have made a personal inspection of the property that is the subject of this report. 10. No one provided significant real property appraisal assistance to the persons signing this certification. 11. The use of this report is subject to the requirements of the State of Florida relating to review by the Florida Real Estate Appraisal Board. _ �., Certificati 12. This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan. 13. The reported analyses, opinions and conclusions were developed, and this report was prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. 14. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. 15. As of the date of this report, Stephen D. Shaw, MAI has completed the continuing education program for Designated Members of the Appraisal Institute. S tephen , MAI Cert Gen RZ1192 Joe M. Merritt, Associate Appraiser Cert Gen RZ672 2 L' Limiting LIMITING CONDITIONS 1. Unless otherwise stated, the value appearing in this appraisal represents the opinion of the Market Value or the Value Defined AS OF THE DATE SPECIFIED. Market Value of real estate is affected by national and local economic conditions and consequently will vary with future changes in such conditions. Z. The value estimated in this appraisal report is gross, without consideration given to any encumbrance, restriction or question of title, unless specifically defined. 3. This appraisal report covers only the property described and any values or rates utilized are not to be construed as applicable to any other property, however similar the properties might be. 4. It is assumed that the title to the premises is good; that the legal description is correct; that the improvements are entirely and correctly located on the property described and that there are no encroachments on this property, but no investigation or survey has been made. 5. This appraisal expresses our opinion, and employment to make this appraisal was in no way contingent upon the reporting of predetermined value or conclusion. 6. No responsibility is assumed for matters legal in nature, nor is any opinion of title rendered. In the performance of our investigation and analysis leading to the conclusions reached herein, the statements of others were relied on. No liability is assumed for the correctness of these statements. 7: Neither all nor any part of the contents of this report (especially any conclusions, the identity of the appraiser or the firm with which he is connected, or any reference to the Appraisal Institute or any of its designations) shall be disseminated to the public through advertising media, public relations media, news media, sales media or any other public means of communication without our prior written consent and approval. 8. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures which would render it more or less valuable. The appraiser assumes no responsibility for such conditions or the engineering which might be required to discover these factors. 3 Limiting i 9. Unless otherwise stated in this report, the existence of hazardous substances, including without limitation stachybotrys chartarum (mold), asbestos, polychlorinated biphenyls, petroleum leakage, "Chinese drywall ", or agricultural chemicals, which may or may not be present on the property, or other environmental conditions, was not called to the attention of, nor did the appraiser become aware of such during the appraiser's inspection. The appraiser has no knowledge of the existence of such materials on or in the property unless otherwise stated. The appraiser, however, is not qualified to test for such substances or conditions. If the presence of such substances, such as asbestos, urea formaldehyde foam insulation, or other hazardous substances or environmental conditions, may affect the value of the property, the value estimated is predicated on the assumption that there is no such proximity thereto that would cause a loss in value. We are unaware of very wet conditions that may have existed for days or weeks which are required to grow mold. No responsibility is assumed for any such conditions, nor for any expertise or engineering knowledge required to discover them. 10. The Americans with Disabilities Act ( "ADA ") became effective January 26, 1992. The appraisers have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property, together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon the value of the property. Since the appraisers have no direct evidence relating to this issue, possible noncompliance with the requirements of ADA in estimating the value of the property has not been considered. 11. Our opinion of value was based on the assumption of competent marketing and management regarding the Subject Property. If there is no competent marketing and management, then the value contained herein may not apply.. 4 -m. - Ulm;= l A j Subject Photos 1 � � � r IN 0 FA AlT�N1 i � r« Yl � !, Av IN AERIAL VIEWS OF THE SUBJECT PROPERTY t'tt b �h h si�i�l {t h aa jj(( � + i 1 M h� ME i N ' ' �tS)1�tSs h d� +1 5t 3.; t j h � i � h +Slid h h Chia - �h tv ➢fat l� P �� n� m r h �� FIN ,1 t i' �`�h5�5 ,4Ss pJirlrlh4 h\ ih a� h st�h h �'h 1'itrr �t { U =t3 \ t >' 7 t 5 F�ft f \Lii i S Subject Photos u LOOKING NORTHEAST AT THE cr iRiFCT PROPERTY FROM EAST MARIIN LUTHER DING JR. BOULEVARD i N 4 � LOOKING NORTHWEST AT THE SUBJECT PROPERTY FROM EAST MARTIN LUTHER KING JR. BOULEVARD 6 .; Problem Definition of the Appraisal r s ate f Value Interest rise The purpose of this investigation and analysis was to provide our opinion of the Market Value of the Fee Simple Estate of the Subject Property as of April 28, 2014. Intended Use and User of Appraisal This report has been prepared for our client and intended user, Boynton Beach CRA. The intended use is to assist the client for internal purposes. The scope of work performed is specific to the needs of the intended user and the intended use. No other use is intended, and the scope of work may not be appropriate for other uses. Market Value "As defined in the Agencies' appraisal regulations, the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: a. Buyer and seller are typically motivated; b. Both parties are well informed or well advised, and acting in what they consider their own best interests; c. A reasonable time is allowed for exposure in the open market; d. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and e. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale." Source: The Interagency Appraisal and Evaluation Guidelines, Federal Register Volume 75, No. 237, December 10, 2010, Pgs. 61 -62. 7 Definition of the Appr Legal Deac ion Tax Folio, Number 08-43-45-21-25-001-011 Frank Weber Add Lot 11 and the East it feet of Lot 12 (Less the South 20 feet for right -of -way for 10 Avenue), Block 1, according to the plat thereof, as recorded in Plat Book 9, Page 3 of the Public Records of Palm Beach County, Florida. Source: Palm Beach County Records Book 26518, Page 929. Fee SiMDle Estate The Dictionary of Real Estate Armraisal, Fifth Edition 2010, by the Appraisal Institute, defines Fee Simple Estate on page 78 as follows: "Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat." Exposure Time The Dictionary of Real Estate AQpraisal, Fifth Edition 2010, by the Appraisal Institute, defines Exposure Time on page 73 as follows: "The estimated length of time the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal; a retrospective estimate based on an analysis of past events assuming a competitive and open market. There is a requirement under Standard Two to report exposure time according to the latest USPAP publication. "Exposure Time" is different for various types of property under different market conditions. We have reviewed the exposure time on the sales contained in the Sales Comparison Approach in this appraisal, as well as other sales and current listings in the market. Based on that data and the current market, it is our opinion that the Subject Property would have had an exposure time of up to 24 months. 8 a Defin ition r Marketing Time The Dictionary of Real Estate Appraisal, Fifth Edition 2010, by the Appraisal Institute, defines Marketing Time on page 121 as follows: "An opinion of the amount of time it might take to sell a real or personal property interest at the concluded market value level during the period during the period immediately after the effective date of an appraisal. Marketing time differs from exposure time, which is always presumed to proceed the effective date of an appraisal." Advisory Opinion 7 in USPAP 2010 -2011 explains that "Marketing Time" occurs after the effective date of the "Market Value" opinion and "Marketing Time" opinion is related to yet apart from the appraisal process. Advisory Opinion 7 goes on to say, "the request to provide a reasonable marketing time opinion exceeds the normal information required for the appraisal process and should be treated separately from that process." As in most markets, properties that are priced competitively and marketed professionally will sell before others which are not. We have reviewed the marketing time on the sales used the Sales Comparison Approach of this appraisal, as well as other sales within our database and current listings in the market. Based on these indications, it is our opinion that the Subject should have a marketing time of up to 24 months. Hypothetical Conditions The Dictionary of Real Estate Appraisal Fifth Edition 2010, by the Appraisal Institute, defines Hypothetical Conditions on page 97 as follows: "That which is contrary to what exists but is supposed for the purpose of analysis. Hypothetical conditions assume conditions contract to know facts about physical, legal, or economic characteristics of the subject property; or about conditions external to the property, such as market conditions or trends; or about the integrity of data used in an analysis." There were no Hypothetical Conditions in the valuation of the Subject Property. 9 Definit r Extraordinary Assumptions Extraordinary Assumptions are defined by The Dictionary of Real Estate raisal, Fifth Edition 2010, by the Appraisal Institute, on page 73 as follows: "An assumption, directly related to a specific assignment, which, if found to be false, could alter the appraiser's opinions or conclusions. Extraordinary assumptions presume as fact otherwise uncertain information about physical, legal, or economic characteristics of the subject property; or about conditions external to the property such as market conditions or trends; or about the integrity of data used in an analysis." There were no Extraordinary Assumptions in the valuation of the Subject Property. 10 Scope of Work SCOPE gf _WORK According to the 14th Edition of The Apl2raisal of Real Estate, page 38, "Scope of work encompasses all aspects of the valuation process, including which approaches to value will be used; how much data is to be gathered, from what sources, from which geographic area, and over what time period; the extent of the data verification process; and the extent of property inspection, if any. The scope of work decision is appropriate when it allows the appraiser to arrive at credible assignment results and is consistent with the expectations of similar clients and the work that would be performed by the appraiser's peers in a similar situation." The first step in the appraisal process involved defining the appraisal problem which included the purpose and date of value, determining the interest being appraised, intended use and user of the appraisal, and identifying the real estate (legal description). This step also determined if the appraisal were subject to any extraordinary assumptions or hypothetical conditions. The next step involved inspections of the Subject Property in April 2014 by Stephen D. Shaw, MAI and Joe M. Merritt. The inspections allowed us to understand the physical components of the Subject Property. In addition to the inspections of the Subject Property, we also began the data - collection process and, subsequently, an analysis of the factors that affect the market value of the Subject Property, including a market area analysis, neighborhood analysis, and property data analysis. We gathered and reviewed information from our client, the Palm Beach County Property Appraiser's Office, and the City of Boynton Beach Planning and Zoning Department. The third step in the process was to determine the Highest and Best Use of the Subject Property. Through the Highest and Best Use analysis, we determined the issues that have an effect on the final opinion of value. To determine the Highest and Best Use, we relied on information obtained from the data - collection process. The fourth step was the application of the appropriate approach for the valuation. No approaches were specifically omitted from this appraisal either by the client or the appraiser. The Subject Property consists of 7,002 square feet or 0.16 acres of vacant commercial land. The most reliable way to estimate land value is by the Sales Comparison Approach and this procedure is performed in the following Land Value Analysis. 11 ,x. Ne NEIGHBORHQQD DATA Ereface The relationship of the Subject Property with surrounding properties forms the basis of neighborhood analysis. The Appraisal of Real Estate, 14th Edition on page 165 states: "The boundaries of market areas, neighborhoods, and districts identify the areas that influence a subject property's value. These boundaries may coincide with observable changes in land use or demographic characteristics. Physical features such as structure types, street patterns, terrain, vegetation, and lot sizes help to identify land use districts. Transportation arteries (highways, major streets, and railroads), bodies of water (rivers, lakes, and streams), and changing elevation (hills, mountains, cliffs, and valleys) can also be significant boundaries." Neighborhood analysis requires the identification of boundaries. The boundaries may be defined by complimentary land uses, social factors, economic, or physical boundaries. In the case of this appraisal assignment, neighborhood boundaries are identified by physical boundaries and surrounding land uses. Neighborhood Map m J ma r i The Subject neighborhood is considered to include the eastern portion of the City of Boynton Beach bounded on the north by the Boynton Canal (C -16), on the south by Woolbright Road (SW 15 Avenue), the east by the Intracoastal Waterway and on the west by Interstate 95. The primary north /south traffic arteries through the neighborhood include Federal Highway (U.S. Highway 1), Seacrest Boulevard and Interstate 95. Interstate 95, located approximately one mile west of the Subject Property, is the principal north /south commuter route along the east coast of Florida. U.S. Highway 1, commonly known as Federal Highway in southern Palm Beach County, also spans the 12 7` Neighborhood length of Florida's East Coast. Seacrest Boulevard, which extends through the center of the neighborhood, is a 4 -laned intercity connector joining Boynton Beach with Hypoluxo to the north and Delray Beach to the south. The major east /west traffic arteries in the neighborhood are Boynton Beach Boulevard (State Road 804) and Woolbright Road. Both of these thoroughfares have interchanges with Interstate 95. Boynton Beach Boulevard extends westerly to U.S. Highway 441 (State Road 7) and provides access to Florida's Turnpike. Boynton Beach Boulevard effectively ends at North Federal Highway. Ocean Avenue, which is located two blocks south of Boynton Beach Boulevard, is Boynton's Main Street. The Ocean Avenue Intracoastal Waterway Bridge was recently renovated and provides convenient access to the Town of Ocean Ridge and State Road A -1 -A. Woolbright Road also has a modern bridge that also provides access to State Road A -1 -A and area beaches. Boynton Beach has historically been considered a retirement oriented community. However, the city has grown rapidly over the past several years and the average age of the population is decreasing. The Subject neighborhood is nearly 100% built out and has a mixed housing composition, consisting of older single family (some built as early as the 1920's) and multifamily. Commercial development is concentrated along the major thoroughfares previously discussed and consists of offices, office /warehouses and retail buildings. The majority of the commercial type properties within the Subject's immediate area are retail in nature. Like its sister cities of Delray Beach, West Palm Beach and Lake Worth, officials of Boynton Beach have realized that downtown Boynton Beach could be a major asset to the city in general and a redevelopment effort is underway. All of the above cities have had government led redevelopment of their respective downtowns. As a result, property values increased in these areas. Boynton Beach seeks to mirror this success in their city. The City of Boynton Beach has started its redevelopment plan for its downtown area with the Promenade and Marina Village mixed use projects. These projects include a marina with boat slips, apartments, commercial and retail shops and a parking garage. The projects include boardwalks through the mangroves and to overlook the Intracoastal Waterway. The City of Boynton Beach and the surrounding area enjoy good community services. Bethesda Memorial Hospital is located on Seacrest Boulevard. Other medical facilities and nursing homes are within a short distance. There are currently 18 churches representing all major denominations within the city limits. The Subject neighborhood has excellent access to public elementary, junior high, and high schools in Boynton Beach, as well as a variety of private and church supported schools in the area. All municipal services, including police and fire protection, public library facilities, garbage 13 Neighborhood Data and trash collection, are available to most properties within the Subject neighborhood from either the City of Boynton Beach or Palm Beach County. Conclusion Overall the Subject Neighborhood should see extensive redevelopment in the future. Large mixed -use projects are planned with significant amount of residential units. In the Subject's immediate area, the redevelopment concept will serve to redefine the character of the surroundings by upgrading the general condition of some blighted pockets, changing land uses and zoning in certain areas to promote cohesiveness, and ultimately lead to increasing interest and property values. The current limiting factor is the slow residential and commercial real estate markets and overall poor national economy. Although the market activity for redevelopment properties in the neighborhood is increasing, we expect that new development will be on hold until the real estate market improves and the supply of available residential units begins to diminish. 14 LT -11 - 7_ Property Data PROPE&TY DATA Location The Subject Property is located on the north side of East Martin Luther King Jr. Boulevard, 50 feet east of Seacrest Boulevard, in the City of Boynton Beach, Palm Beach County, Florida. The site currently has no property address. Locat A'. a 4ia Lxn � o-i Z_ nina The Subject Property is zoned C2, Neighborhood Commercial, by the City of Boynton Beach. The purpose of the C2 zoning district is to implement the local retail commercial (LRC) future land use map (FLUM) classification of the Comprehensive Plan. The intent of this conventional district is to allow low - intensity commercial uses of a retail convenience that are intended to serve and which are in close proximity to individual residential neighborhoods. Generally, the desired locations of these commercial areas would be at the periphery of one (1) or more neighborhoods along roadway classifications that are able to support the additional traffic. At 7,002 square feet, the Subject site exceeds the minimum lot area required for development in this district of 5,000 square feet. Land -Use Plan The Subject Property is and designated LRC, Local Retail Commercial, by the City of Boynton Beach Future Land Use Plan, which is consistent with the current zoning. 15 u Property Data Site Size, Shape and Access The Subject Property is rectangular and contains 7,002 square feet or 0.16 acres. The site has 50 feet of frontage on and access to East Martin Luther King Jr. Boulevard (aka NE 10 Avenue), which extends along the southern boundary. The depth of the site is 140.05 feet. (51103•'I :z) 90", 1.9fta A AOIJiEO HCH PQ a Oii71 ° ® ° 4+. R "Q C) 0 ;=a �•t (•;I s'€ , � (�� `; c5 r� .� �e'; ; uc Ga �.. :r:� Via; 3 .. ��Ix: _ +r;'.. 0140 CD (0,38 A r .- CO 4 E? ® G7 0 p F'f 4001 _ 0030 ° r o 0070 (D r -k (rb €.I'I Ihi111 (`. (hlla'1 - qhl lq, �F.q II j (he'll '[�.73C7 fh111'I1`j( oora by The Subject Property is level and at the approximate grade of the adjacent street improvements. The site is all upland and useable with no apparent drainage problems. Utilities All public utilities are available to the Subject Property including water and sewer service by the City of Boynton Beach, electrical service by FPL, and telephone by AT &T. Easements and Deed Restrictions Based on our review of the public records and on -site inspection, the Subject Property has no obvious atypical easements or deed restrictions 16 � Property Data Census Tract The Subject Property lies within Palm Beach County Census Tract 0061.00. : 135 MARTIN T J Informat MSA Code: 48424 ] State Code: 1 1:L2::] County Code: 099 [Tract Code: 00 Summary Census Demographic T ract Incomire Leve Low Tract 1 ti Distressed Underserved or t No Tract M ! 7 Est imated 2013 FIFIEC 1 i Median I Population Est. Tract Median Family Income 1 Units - i 1 T ract I ,14 - Units to f ly 1 Median Tract Flood zar on The Subject Property lies within Flood Zone "C ", according to the Flood Insurance Rate Maps Panel Number 120196 0004 C prepared for the National Flood Insurance Program of the U.S. Department of Housing and Urban Development (H.U.D.). Flood Zone °C" includes "areas of minimal flooding A ssessed l Taxes According to the Broward County Property Appraiser, the 2013 assessed value and taxes for the Subject Property were as follows: 2013 A ssessed Va 2013 Folio Number Land Improvements Total Taxes 08- 43- 45- 21 -25- 001 -0110 $21,006 $0 $21,006 $477 According to the Palm Beach County Tax Collector web site, the 2013 taxes had not been paid. 17 �{ R Property Data Concurrence In 1985, the Florida Legislature enacted the Local Government Comprehensive Planning and Land Development Regional Act (Chapter 163, Part II, Florida Statutes), commonly referred to as "The Growth Management Act ". In 2011 the state legislature rescinded this law, and now each county can address almost all of these factors as they wish. Sanitary sewer, solid waste, drainage, and potable water are the only public facilities and services subject to the concurrency requirement on a statewide basis. If concurrency is applied to other public facilities, the local government comprehensive plan must provide the principles, guidelines, standards, and strategies, including adopted levels of service, to guide its application. In order for a local government to rescind any optional concurrency provisions, a comprehensive plan amendment is required. An amendment rescinding optional concurrency issues is not subject to state review. To the best of our knowledge, we are not aware of any concurrency issues with the Subject Property. Property History It should be noted that this office has not performed a title search, nor has a title search been provided. According to the Palm Beach County Public Records, the Subject Property is under the ownership of Blanche H. Girtman. There have been transfers of ownership in the past five years. To our knowledge, the Subject Property was not listed for sale or under contract. Improvements The Subject Property is vacant with no improvements. 18 H HIGHEST AND BEST USE The Dictionary of Real Estate Appraisal Fifth Edition 2010, by the Appraisal Institute defines Highest and Best Use on page 93 as follows: "The reasonably probable and legal use of vacant land or an improved property, that is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum productivity." To estimate the Highest and Best Use of the Subject, we have considered those uses which are legally permissible, physically possible, financially feasible, and maximally productive. Consideration was given to individual features of the land such as size, shape, location, access to roadways, and the availability of utilities. Consideration was also given to the surrounding land uses and the demand for property in the current real estate market. Conclusion It is our opinion that the Highest and Best Use of the Subject Property is for future commercial development. The reasons for this conclusion are as follows: Legaliv Permissible The Subject Property is located within a planned redevelopment area of the City of Boynton Beach and is zoned for neighborhood commercial development. Physically Possible Physically, the Subject Property is suitable for a variety of commercial uses. The site is all upland and useable with no obvious topographical problems that would restrict or prohibit development. Having direct frontage on East Martin Luther King Jr. Boulevard makes the site suitable for future retail commercial development. Furthermore if combined with the adjacent parcel fronting Seacrest Boulevard, the site could have added utility, Financially Feasible Given the uses which are both legally and physically possible, it is our opinion that future commercial development could be financially feasible. 19 , Highest and Best Use Maximally Productive It is our opinion that the maximum productivity of the Subject site could be realized with future development with a commercial use as indicated. The most probable purchaser of the Subject Property would be an investor, developer or an owner /user. 20 s Land Value Analysis LAND VALUE ANALYSIS According to the 14th Edition of The Appraisal of Real Estate the valuation of land begins by identifying the real estate and property rights valued, any encumbrances, use restrictions, and the land's physical characteristics. An appraiser can use several techniques to obtain an indication of land value: • Sales Comparison • Market Extraction • Allocation • Land Residual Technique • Ground Rent Capitalization • Subdivision Development Analysis Usually the most reliable way to estimate land value is by sales comparison. When few sales are available, however, or when the value indications produced through sales comparison need additional support, procedures like extraction or allocation may be applied. In the case of the Subject Property, the only approach used was the sales comparison approach. Sales Comparison Approach in order to estimate the value of the Subject Property, a search was made for recent sales of vacant land, or previously improved properties purchased for redevelopment, within the Subject's market area. Our search was concentrated on small commercial properties located in the eastern portion of the City of Boynton Beach or in areas of community redevelopment in nearby areas. We have also considered current listings in the immediate vicinity of the Subject Property. We analyzed the Subject Property and the comparables on a price per square foot of land area basis, which is the most common unit of comparison used by participants in the market for this property type. All of the comparables were considered with regard to property rights appraised, financing, conditions of sale, time or market conditions, location, size, site quality and improvements. 21 L' - r' , �� Land Value Analys iscussion of Vacant Land Sales Our search revealed four sales and three current listings of properties that were considered to be suitable for direct comparison to the Subject. As shown below, the comparable sales (1 -4) indicated non - adjusted values ranging from $13.66 to $24.06 per square foot of land area. The comparable listings (5 -7) indicated non - adjusted values ranging from $18.16 to $30.90 per square foot. Vacant Land Sales Calaway & Price, Inc. #13 -70909 Sale Number Subject 1 2 3 4 5 6 7 Record ID Number 8457 8501 8422 7992 8032 ORBK/PG 26625/240 26486/1926 26000/160 25587/0401 48650/0001 Listing Listing Effective Sale Price $225,000 $700,000 $500,000 $485,000 $370,000 $479,000 $325,000 Sae - Aces 0.16 0.42 1.06 0.84 1.00 0.81 0.57 0.41 Sae - Sq.Ft. 7,002 18,336 46,337 36,590 43,735 35,221 24,829 17,892 Price Per Sq.Ft. $12.27 $15.11 $13.66 $11.09 $10.51 $19.29 $18.16 North side of East side of East side of Northeast Southwest East Martin Northeast North Federal North Federal Southeast South side of comer of tamer of Location Luther King ]r. comer of SW comer of SW Martin Luther Highway Highway, 555 West Boynton South Federal Boulevard, 50 10th Avenue between NE feet south of 10th Avenue King Blvd., Beach Highway and feet east of and SW 11th 4th and 6th SE Gulfstream and SW 10th 200' west of Boulevard and SE 10th Seacrest Street Avenues Boulevard Street NW 27th Ave. NW 4th Street Avenue Boulevard CRY Boynton Boynton Pompano Boynton Boynton Beach Delray Beach Beach Delray Beach Delray Beach Beach Beach Beach Date of Sale Feb -14 Dec -13 May -13 Nov -12 Apr -12 Apr -14 Apr -14 Date of Value Apr -14 Zoning C2 LI CBD GC U B -4 C2 C3 Conditions of Sale 0 0% 0% 0% 0% -20% -20% Market Condition Adj. 0% 0% 0% 0% 0% 0% 0 1 /0 Adjusted Price Per Sq.Ft. $12.27 $15.11 $13.66 $11.09 $10.51 $15.43 $14.53 Physical Adjustments Location 0% 0% 0% 0% 0% 0% 0% Main Road Frontage 0% -20% -20% 0% 0% - 20% - 20% Sae 0% 5% 5% 5 5% 0% 0% Site Quaity 0% 0% 0% 0% 0% 0% 0% Zoning 0% 0% 0% 0% 0% 0% 0% Total Ph skalAdment 0% - 15% - IS% 5% sole - 20% 20% Ad usted Price .Ft. 12.27 12.84 11.62 11.64 11.03 12.35 11.63 Low $11.03 Hgh $12.84 Average $11.91 22 Land Value Analysis 13a,hi Age, l)arrir M 6 Si b)ed PWtrh IM Avb, �r o 6 r ^ sa ID y a : Bey m s $ 61h Are r m A -4 N oamn ,pr ..� sdez I 5 m fl ° " °`.SW 9th Av a w °A P! t a t c e u m m ' 1'' N .m 4ir IL O F a a r WBolhd ht Rd W WO01b ht Rd m, - S9 �� _ Alm ,. � � � 8 I • n �< - 9 � � BIM N ,k ,e: 9reezaa Goa( "B9 ��;. � � SE 23rd Ave Douniq Rd 2 H � 21m Am SW 231h Are -vim S PalmlandQ xa � �xw ,: �Miesion Hill R4 � MT Saki I� Defray Beach • Ir iii � .A i r a Land Scales Maps A oT sde4 60 - �Sdel la i L�ahBeddv � Rerrs kl f G�fA NIMe. Rq Q I I •E A A i. M WE A H e �1 f , NA Whftff _ &d I i i,., 77 'ai lean B— F L O' R i U e� ° F ] t i eMwwAF a... BOB . I � J a BDCadI P 9goca s.m.rodoa.at� } ; t eoe PeaM � r t �... BheFeeA .VY1d111tl - ..�..:.. P ...910: Abat Db*' We iW Flesrli C*— BN Sl,gewn�d° d .,w~� t �,, ,�,� ,. s = m mu, dt • / Hgla6uro x � i L•txriaw 1� Faikwn , 9e11B F .. m , Pmp.rw Beal, HipfrMBBgr lP way Pa.r d; It R 4 W A P. D pdrk O "Ah Pmoe mDeach Coral • ) y a f • ° �{ Bprin ® s t �•w� O1pa sales Ma Fkerap„tiv8a a,q < _.CbepailD EkPBrk I H.rbm ,`/e.!a 23 Land Value Analysis Land I NA v , I p q } I r y Rp a S , Property Identification Record ID 8457 Property Type Commercial, Vacant Land Address Delray Beach, Palm Beach County, Florida 33444 Location Northeast corner of SW 10th Avenue and SW 11th Street Tax ID 12- 43- 46 -20 -18 -000 =0161 & 0163 Legal Description Lengthy, Lot 16, Esquire Subdivision Sale Data Grantor Southwest 11th Street Holdings, LLC Grantee RPOS Delray, LLC Sale Date February 18, 2014 Deed Book /Page 26625/240 Recorded Plat PB 1, Pg 4 Property Rights Fee Simple Conditions of Sale Arm's length Financing Cash to seller 24 , 7 ,d Land Value Analysis Verification Confirmed by Joe Merritt Sale Price $225,000 Land Datp Zoning LI, Light Industrial Topography Level and all upland Utilities All available Shape Rectangular Land Use Plan Commerce Land Size Information Gross Land Size 0.421 Acres or 18,336 SF Front t SW 10th Avenue;SW 11th Street indicators Sale rice/ ross Acre $534,522 Sale Price/Gross SF $12.27 Remarks This site was purchased for future mixed use commercial /industrial development. The Grantor purchased the property in July 2012 for an effective price of $152,000 or $8.29 per square foot (See C &P Sale 8001) and obtained approvals for the development of a 3,000 square foot mixed use building. The property was listed at $295,000 for 6 months prior to sale. 2 Land Value Analys Land I w , z t Y 7,M"fith Ave tii If q 0.., 4 ,k'��f �` t . v rd W IN iW " d I 6 i t ` .c V" ! O I.I wl I� • ro , I� "I 0 VET 4 , I � _ � Pro ert Identification Reco 8501 P roperty Commercial, Vacant Land Add ress 512 -600 North Federal Highway, Boynton Beach, Palm Beach County, Florida 33435 Lo c a tion East side of North Federal Highway between NE 4th and 6th Avenues Tax ID 08- 43- 45- 22 -05- 000 -0010 & 002 -0010 Legal De scription Lots 1 -3, Block 2, Civic Center & Lots 1 -6, R.S. Merritt's S ale a G rantor Boynton Beach Property Partners, LLC G rantee St. Mark's Square, LLC Sa le ate December 03, 2013 D eed o / 26486/1926 P ro p erty i is Fee Simple C ondi t ions of le Arm's length F inancing Cash to seller V erification Confirmed by Joe Merritt 26 Land Value Analysis Sale Price $700,000 Land Data Zoning CBD, Central Business District Topography Previously improved Utilities All available Land Use Plan Mixed Use -Size Land r i Gross Land i 1.064 Acres or 46,337 SF Front Footage North Federal Highway;NE 4th Avenue;NE 6th Avenue Indicajors Sale Price/Gross Acre $658,049 Sale ric / r s $15.11 Remarks This property was purchased for investment purposes and future commercial development. 27 N, Analys Land Value Land Sale No. 3 t � 1 r k� d 1 i a` }( Property Identification_ Re cord 8422 Property Type Commercial, Vacant Land Address 2705 N. Federal Highway, Delray Beach, Palm Beach County, Florida Lo cation East side of North Federal Highway, 555 feet south of Gulfstream Boulevard Tax ID 12 43 46 04 - 08 - 000 - 0280 & 0290 Legal Des cription DELRAY BEACH ESTATES, Lots 28 & 29 Sa le Da G rantor Cypress Trust Company Gran tee Brian Dudley Sa le Date May 03, 2013 Book /Page Deed 26000/160 Recorded P 13 P roperty i is Fee Simple V eri f ica tion Confirmed by Art Grady Sa le ri $500,000 Cash Equ ivalent $500,000 28 f „ Land Value Analysis Land I (Cont.) Lan I Data Zoning CG, General Commercial Topography Level Utilities All Land Commercial Land Size Information Gross i 0.840 Acres or 36,590 SF Front 200 ft North Federal Highway Indicators Sale Price/Gross Acr $595,245 Sale Price/Gross SF $13.66 Remarks This site was purchased for investment purposes and future commercial development. 29 y S C 1uaY Analys Land Value .. `b` - } / Y p tk� ,; t lfil - Y _ r 4 +d t 4 s i s Y t SS f y � Land Sale No. 4 E ll Property Identification R ecord 7992 P roperty Tye Commercial, Vacant Land Add re s s Delray Beach, Palm Beach County, Florida 33444 Lo cation Southeast corner of SW 10th Street and SW 10th Avenue Tax 31D 12- 43- 46- 20 -18- 000 -0091, 0092, 0093, 0100 & 0110 Legal Description Lots 9, 10 & 11, Esquire Subdivision // 20/46/43 S ale Data G rantor West Corner Venture, LLC G rantee DG Delray, LLC S ale Da November 05, 2012 D eed / 25587/401 R ecorded ! PB 23, PG 43 P ro p erty i is Fee Simple Cond i t ions of Sale Arm's length F inancing Cash to seller with no effect on the sale price V erification Confirmed by Joe Merritt 30 , F A. Land Value Analys Land Sale No. (Cont.) Sale rice $485,000 Lan_dData Zoning NC, Neighborhood Commercial Topography All upland cleared and level Utilities All available Shape Rectangular Land Use Plan CMR, Commerce Land Size Information Gross Land Size 1.004 Acres or 43,735 SF Front Footage SW 10th Street;SW 10th Avenue X_ndicatqrs Sale ric / ross Acre $483,059 Sale ric / ross SF $11.09 Remarks This property was purchased for the development of a Dollar General store, which was completed in early 2013. It was on the market at time of sale but at an unspecified listing price. The contract was executed on May 2, 2012. 31 c Land Value Analysis Land Sale No. 5 r I' �� tfiu _ k 3 J u =ltI 2 � g il r 1 �t ( Prol2e= Identification Reco 8032 P roperty a Commercial P roperty N/A Add ress 2800 Hammondville Road, Pompano Beach, Broward County, Florida 33069 L ocati o n South side of Hammondville Road, approximately 200 feet west of NW 27th Avenue Tax ID 48- 42 -33 -03 -0080 Lega De Lot 7, less North 7 feet for road right -of -way, Fords Manor, PB 19, PG 34 // 33/48/42 S ale Da G ran to r Gaddis Capital Corporation G rantee God Family, LP S ale Date April 04, 2012 2 I.u_ n Deed Book /Page 48650/1 Marketing Time +/- 1 year Financing $70,000 down /owner financing Verification Mark Seramur /Listing Broker Sale Price $370,000 Cash Equivalent $370,000 Land Data Zoning B -4, Heavy Business Utilities All available Shape Rectangular Land Use Plan Commercial Depth 294 Land Size Information Gross Land Size 0.809 Acres or 35,221 SF Front Footage 120 ft Total Frontage: 120 ft Hammondville Road Indicators Sale Price /Gross Acre $457,602 Sale Price /Gross SF $10.51 Sale Price /Front Foot $3,083 Remarks This is the sale of a 0.81 acre site that was improved with a 600 square foot building built in 1972. As per the transaction broker, the site was purchased for its underlying value only with no consideration given to the improvements. The buyer is the adjacent owner (west side). The land had been on the market for about a year and the seller offered "seller financing." The buyer purchased the land with $70,000 down and took a short term loan for the rest at a 6% interest rate. 33 Land Value Analysis Land Listing Company Not Pruv� ded Orion Rosen - [��' 24 3�� La For Sale Boyn Beach Blvd - Land wa;tisi BcsyrstnriBeach Blvd. Ekcqnton Beach. FL S478,000 'C�.5 7 A C P t aY .y 6.ip 14P Find O!!; More... Lot Availablo a Pnce. ®.67 C T Ivt 7 s, L :;?+- i , § , o f 7( . z 114' ! L P ,. .. s Highlights 1'.., i . `uY i_ lY S r _ _ X _0 t0 I F ? s ,rP E31 td sc. im _:r 7 . :, ., 9ry :S'Dr Descri do E ?t 6 €.�• °'.3 _ � s Y.. -_ a .t. .. ..:6 �i[, . s�.! s•.a .3 .�%G� .` r, f! ,-_.. F .. .. "�;: f� 3 4 Analys Land Value List Land Ric Newman — 6� ) Land For Salle 1111 S. Federal Highway € I t i S. Federal Highway, Boynton Beach. R. T-L4 3a LCA .. ... k Q Lazt Updated 5 ..,yam act cl Find Out More... r t I Lot Available Lod S3Z5,4Di! Lot LolType: ~year 9iF. ate? k ufk'6�r'& .r! ca ocA J # [. z ffCr °t!., ., "tC,.v_j"€� Rkr t- F €.,c., >,»,r oini , T nriYtao'n"A rtmfl vs 4" t y [; ,�:. s''., '3� ..... f r .: 'P ',: `t , ,:;+ € 1 � .:d i"7terr g :"„� ' °•[ 35 " Land Value Analysis ro ) erty Rights Transferred and Terms of in nci All the comparables in this analysis involved the transfer of a Fee Simple Estate basis, with the buyers receiving full property rights ownership. We are also unaware of any adverse deed restrictions or any other property rights limitations which would have affected the sales. Therefore, no adjustment was considered necessary for property rights conveyed. The transaction price of one property may differ from that of a similar property due to atypical financing arrangements. In a case where favorable financing is established, a cash equivalency adjustment is often necessary. However, all of the sales analyzed herein involved either market terms or cash to Grantor. Therefore, no adjustments were made, nor any cash equivalency performed. Conditions of Sale Adjustments for conditions of sale usually reflect the motivations of the buyer and seller at the time of conveyance. Within the confirmation process, detailed attention was made to ensure the conditions of each sale. None of the comparables required adjustments for this factor. Time or Changes in Market Conditions Market conditions generally change over time and may be caused by inflation, deflation, fluctuations in supply and demand, or other factors. The sales used in our analysis ranged in date from April 2012 to February 2014 with the listings being current as of the appraisal date. The available market data indicates that values for this property type remained relatively stable during the time period of the sales. Therefore, the all of the comparables were considered to be representative of the current market and no adjustments were necessary for time or changes in market conditions. Location The Subject Property is considered to have an average general location for future commercial development. It is located in a redevelopment area in Boynton Beach. The comparables are either located in areas in generally close proximity to the Subject or in areas of community redevelopment. The comparables are considered to be generally similar to the Subject Property as to general location and no adjustments were made. Main Road Frontage The Subject Property has frontage on and access to Martin Luther King Jr. Boulevard. This is a secondary commercial location. Sale 2, 3 and Listings 6 and 7 are located on main roadways and are considered to have superior main road frontage compared to the Subject. Downward adjustments were necessary for this factor. The remaining comparables were similar in this respect. 36 Land Value Analysis Size The Subject Property contains 0.16 acres. The comparables range in size from 0.42 to 1.06 acres. It is typical in real estate for a large site to sell at a lower price per square foot than a small site, when all other characteristics are equal. Sales 2, 3, 4 and 5, all of which are larger than the Subject, received upward size adjustments to varying degrees. Sale 1 and Listings 6 and 7 are similar to the Subject Property in size. Site Quality The Subject Property is considered to have a good site quality for future development being all upland and useable. All of the comparable properties have been previously improved and are considered to be similar to the Subject Property as to overall site quality. Zo ning The Subject Property is zoned C2 by Boynton Beach. The comparables were all considerd to have generally similar zoning designations and no adjustments were required for this factor. Conclusion As can be seen on the chart displayed earlier, the comparables indicated an adjusted range from $11.03 to $12.84 per square foot of land area with an average of $11.91 per square foot. All of the comparables sales were considered to provide reasonable value indications for the Subject Property and were given approximate equal weight in reaching our final value conclusion. Givne the Subject's overall location and the fact that it may be better served being combined with adjacent parcels, we have concluded near the lower to middle of the range. Therefore, it is our opinion that the Subject Property had a Market Value of approximately $11.00 to $12.00 per square foot of land area as of April 28, 2014 or $80,000 as calculated below. 7,002 Sq.Ft. X $11.00 r .. = $ 77,022 7,002 Sq.Ft. X $12.00 Per Sq.Ft. = $84,024 Ro unded = 180,000 37 ADDENDA ENGAGEMENT LETTER Callaway & Price, Inc. ;:r. Appraisers a l is . ov 'WM Licensed Real Estat Ple respond to South Florida office SOUTH FLORIDA E -Mail. vds0cpwpb.com 1410 Park Lane South, 5ulte 7 Jupiter, FL 33458 561.686.03331561.6863705 Fax April 21, 2014 Michael R. Slade, MAJ, SRA, CRE Cert Gen RZi 16 mrS9cpwpb,corn Stephen D. Shaw,MAl Cert Gen RZ1192 Theresa Utterback sds@cpwpb.cam Administrative Services Manager Boynton Beach CRA TREA COAST 710 North Federal Highway 1643 South 2 5` h Street Suite 1 Boynton Beach, FL 33435 Fort Pierce, FL 34947 772464.660717772A61.0809 Fax E-Mail: utterbackt @bbfl.us Stuart: 772.2873330 4 Harry D, Gray, MAI,SRA Dear M S, UtCerback: Ceti y@caga 62 h.gray�caElawayandprice.corn Stephen G. WIN Jr MAI We would be pleased to prepare an Appraisal Report on the vacant Cert Gen RZ2480 commercial site located on the north side of Market Luther King s.nelll @callawayandprke.com Boulevard gust east of Seacrest Boue In Boynton Beach, Florida. It is our understanding that the purpose of the appraisal CENTRAL FLORIDA is to estimate the Market Value of the Fee Simple Estate. 114 6th Avenue, Sulte 3 Indialantlp,FL 32503 This report will be prepared for our c lient and Intended user, 321.726.09701321,726.0384 Fax Boynton Beach CRA. The intended use is to assist the client for Curtis L. Phillips, MAI internal purposes. The scope of work performed Is specific to the Cert Gen 872085 Clp @cprnel.com needs of the intended user and the intended use No other use is intended, and the scope of work may not be appropriate for other uses. The fee would be $1,700, The fee is due and payable upon delivery of the report. We will provide one original of the final report, and a PDF. We will have the report completed In approximately 2 to 3 weeks from the day we receive your authorization be aware tthat delays in our receipt of information requested could postpone completion. Theresa Utterback Administrative Services Manager Boynton Beach CRA April 21, 2014 Page Two If the above is agreeable to you, please sign below as our authorization and return it so that we may begin work immediately. This agreement is subject to the Agreements and Conditions listed on the attached pages, a copy of which should also be signed and returned to us. Our work will be done in accordance with the Appraisal Institute Code of Ethics and Standards of Professional Practice. Thank you for the opportunity to be of service. Respectfully submitted, CALLAWAY & PRICE, INC. Stephen D. Shaw, MAI Cert.Gen. RZ1192 SDS /js Attachments Client: Boynton Beach CRA Accepted By \Date; Signature Date N Name and Title (Printed or Typed): Client l=ed ID# or SS #: I I 1 Theresa Utterback Administrative Services Manager Boynton Beach CRA April 21, 2014 Page Three P II Rec The Boynton Beach Community Redevelopment Agency is public agency subject to Chapter 119, Florida Statutes. The Contractor shall comply with Florida's Public Records Law. Specifically, the Contractor shall: 1. Keep and maintain public records that ordinarily and necessarily would be required by the CRA in order to perform the service; 2. Provide the public with access to such public records on the same terms and conditions that the CRA would provide the records and at a cost that does not exceed that provided in chapter 119, Fla. Stat., or as otherwise provided by law; 3. Ensure that public records that are exempt or that are confidential and exempt from public record requirements are not disclosed except as authorized by law; and 4. Meet all requirements for retaining public records and transfer to the CRA, at no cost, all public records in possession of the contractor upon termination of the contract and destroy any duplicate public records that are exempt or confidential and exempt. All records stored electronically must be provided to the City in a format that Is compatible with the information technology systems of the agency. The failure of Contractor to comply with the provisions set forth 'In this agreement /contract shall constitute a Default and Breach of this Agreement. If Contractor fails to cure the default within seven (7) days' notice from the CRA, the CRA may terminate the Agreement. i i i i I i s Conditions of Ag 1. Pre Ise: The completed report shall comply with the professional and ethical standards of the Appraisal Institute. The report will be addressed to the Client, or, as directed by the Client. 2. Compensation: The fee Is due and payable as designated in the contract letter; the retainer is to be sent to the Appraiser along with the signed contract letter, which constitutes authorization to commence the assignment. The Appraiser's /Consultant's compensation is in no event contingent upon a predetermined value or conclusion. 3. Completion Date Every effort will be made to deliver the report as per the specified date in the contract letter. If delays occur for reasons beyond the control of the Appraiser /Consultant, such as not receiving necessary data requested from the Client In a timely manner, changes in the scope of services of the assignment, acts of God, etcetera, the due date shall be extended. 4. Changes The Appraiser /Consultant shall, to the best of his ability, complete the assignment in compliance with professional and ethical standards of the appraisal industry. Changes which are not In keeping with these standards will necessitate a new contract letter and renegotiation of the original fee, or billed on a time basis plus the original fee. . Cancellation This agreement may be cancelled by the Client by written notice, or telephone followed by written notice. Appraiser /Consultant shall submit a statement based on professional time and expenses accrued, If applicable, for all services expended to the date of cancellation. 6. Additional ReRort Copies Additional copies will be furnished upon request, and prepayment of $1 per page per report. 7. Collection All fees and expenses are due upon delivery of the final report. A late charge of 1.5% per month shall be imposed on balances unpaid 30 days after the statement date. If collection efforts become necessary, all costs for same, Including court costs and attorney's fees will be added to the balance due. We are currently operating under an agreement with a collection agency which charges us 53,8 %. IE THEIR COLLECTION SERVICES ARE REQUIRED, CLIENT'S TOTAL BALANCE DUE WILL BE INCREASED BY 53.8 %. 8. Limiting Conditions This agreement and the completed report shall be subject to the attached Limiting Conditions (also Included In said report). L a Cqndltlqn�� of Agreement 9. Confidential Data. Data assembled For the assignment will remain the property of the Appraiser /Consultant. Data provided by the Client will be held in file, unless otherwise instructed by the Client, and considered confidential. Appraiser /Consultant Is authorized by the Client to disclose the report to appropriate representative of the Appraisal Institute to comply with the Bylaws and regulations of this professional organization. I hereby agree to the Conditions of Agreement outlined above. R Client's Name ate of A ceptance Conditions . Unless otherwise stated, the value appearing in this appraisal represents the opinion of the Market Value or the Value Defined AS OF THE DATE SPECIFIED. Market Value of real estate Is affected by national and local economic conditions and consequently will vary with future changes in such conditions. . The value estimated In this appraisal report is gross, without consideration given to any encumbrance, restriction or question of title, unless specifically defined. 3. This appraisal report covers only the property described and any values or rages utilized are not to be construed as applicable to any other property, however similar the properties might be, 4. It Is assumed that the title to the premises is good; that the legal description is correct; that the improvements are entirely and correctly located on the property described and that there are no encroachments on this property, but no investigation or survey has been made. S. This appraisal expresses our opinion, and employment to make this appraisal was In no way contingent upon the reporting of predetermined value or conclusion. 6. No responsibility is assumed for matters legal in nature, nor is any opinion of title rendered. In the performance of our investlgatlon and analysis leading to the conclusions reached herein, the statements of others were relied on. No liability is assumed for the correctness of these statements; and, in any event, the appraiser's total liability for this report Is limited to the actual fee charged. 7, Neither all nor any part of me contents or this report (especially any conclusions, the identity of the appraiser or the firm with which he is connected, or any reference to the Appraisal Institute or any of its designations) shall be disseminated to the public through advertising media, public relations media, news media, sales media or any other public means of cammunlcation without our prior written consent and approval. S. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures which would render It more or less valuable, The appraiser assumes no responsibility for such conditions or the engineering which might be required to discover these factors. i L im i ng Conditi 9. Unless otherwise stated in this report, the existence of hazardous substances, Including without limitation stachybotrys chartarurn (mold), asbestos, Polychlorinated blphenyls, petroleum leakage, "Chinese drywall" or agricultural chemicals, which may or may not be present on the property, or other environmental conditions, were not called to the attention of, nor did the appraiser become aware of such during the appraiser's Inspection, The appraiser has no knowledge of the existence of such materials on or in the property unless otherwise stated. The appraiser, however, is not qualified to test for such substances or conditions. If the presence of such substances, such as asbestos, urea formaldehyde foam insulation, or other hazardous substances or environmental conditions, may affect the value of the property, the value estimated is predicated on the assumption that there Is no such proximity thereto that would cause a loss in value. We are unaware of very wet conditions that may have existed for days or weeks which are required to grow mold. No responsibility is assumed for any such conditions, nor for any expertise or engineering knowledge required to discover them. 10. The Americans with Disabilities Act ( "ADA ") became effective January 26, 1992. The appraiser has not made a specific compliance survey and analysis of this property to determine whether or not it Is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property, together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon the value of the property. Since the appraiser has no direct evidence relating to this Issue, possible noncompliance with the requirements of ADA In estimating the value of the property has not been considered. I t '-"' I I WUALIFICATIONS L 0 11® cationE Professional Desig nations \Licenses \Certifications Member, Appraisal Institute, MAI Designation #10461 Florida State-Certified General Appraiser RZ1192 Florida State Licensed Real Estate Salesman 0495422 Professio Ex �erience Principal, Callaway & Price, Inc., since January 1999 Senior Appraisal Consultant, Callaway & Price, Inc., since July 1997 - December 1998 Appraisal Consultant, Callaway & Price, Inc., since April 1994 Associate Appraiser, Pinel & Carpenter, Inc., Orlando, April 1992 - March 1994 Appraiser/Researcher, Callaway & Price, Inc., September 1987 - March 1992 Special Magistrate Palm Beach County since 1996 Special Magistrate, Martin County, 2009 Qualified as an Expert Witness Palm Beach County, Florida Martin County, Florida Sarasota County, Florida Education Bachelor of Science Degree, Business Administration, Major in Real Estate and Finance, University of Florida Appraisal Institute: Course 101 - An Introduction to Appraising Real Property, 1992 Course 201 - Principles of Income Producing Properties, 1991 Course 2-1 - Case Studies in Real Estate Valuation, 1992 Course 540 - Report Writing and Valuation Analysis, 1993 Course 2-3 - Standards of Professional Practice Parts A & B, 1991 Numerous seminars sponsored by the Appraisal Institute Appraisin gWonsulting Expertise Acreage Office Buildings ACLFs Office /Warehouses Apartment Complexes Retail Buildings Automotive Service Facilities Restaurants Bowling Alleys Special Purpose Properties Commercial Buildings Shopping Centers Condominium Projects Vacant Commercial Land Eminent Domain Vacant Industrial Land Golf Courses Vacant Multifamily Pods Hotels Vacant Residential Land Marinas Vacant Single-Family Subdivisions Mini-Warehouses Warehouses a Organizations and Affiliations Appraisal Institute: Experience Review Committee Ethics & Counseling Committee South Florida Chapter Board of Directors Business Development Board Palm Beach County, Member �6TWOFFLO 1. StQO LA i02202107 N R $amid :k�e� Aw• �8 �'$1'SA ;.' s r i ' } ji �Ttlsx` the 'iraV3oLxa - :. 1634 VoF;U WT43T PALS ii�ACH rt, 33�4�, ' 1 i } zxox :scow' iArsox GOUOR ? �t V� 1iAY t)1SI�LAY; S Ft t71JIkLU 13Y LAW V , Qualifications - Joe M. Merritt Professional Desigpngattions\Licenseskceffirications Florida State-Certified General Real Estate Appraiser, RZ672 Professional Experience Staff Appraiser, First Federal Savings & Loan Association of Delray Beach, 19771982 Associate Appraiser, Callaway & Price, Inc., since September 1982 Qualified As An Expert Witness Circuit Court of Palm Beach County, Florida Education Florida Real Estate Commission, Course 1, 1977 Appraisal Institute. Course 101 - An Introduction to Appraising Real Property, 1978 Course 201 - Principles of Income Property Appraising, 1978 Narrative Report Writing Seminar & R-2 Examination, 1978 Course IA-1 - Real Estate Appraisal Principles, 1987 Course IA-2 - Basic Valuation Procedures, 1987 USPAP Core Law for Appraisers, 1994 Appraisal Review, 1994 Numerous Continuing Education Courses and Seminars by: Appraisal Institute Gold Coast Professional Schools Bert Rodgers Schools McKissock Appraisal School South Florida Water Management District A212 raisin g\Consulting Expertise Agricultural Land Marinas Automobile Dealerships Office Buildings Civic Sites Regional Malls Commercial Buildings Retail Buildings Condominium Projects Self Storage Facilities Eminent Domain Shopping Centers Environmentally Sensitive Lands Sovereignty Submerged Land Gas Stations/Convenience Stores Special Purpose Properties Golf Courses Commercial Land Market/Feasibility Studies industrial Land Warehouses Residential Land ! l m Merri r t :. L .. ASE' 5 T L $I R I -W EE Rd N d Del OW"- SS 'CERTIFIED, i �]ex the rrovisiaas .vE Chtsp��'�75 ` S E cla3ra�iori c1a e.s H8V .$0, /.9r:A114i1 ', 549 C�I�FSL ,t�x�,L a]LVD ,- :• - fa 1tICfC BGtYaCT : ` KEN LAWSON G4 -- Ok DISPLAY A5 RPOUIRECM 8Y LAW SLCRFsTARY PURCHASE AGREEMENT Page 1 of 14 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 BLANCHE H. GIRTMAN (hereinafter "SELLER"), In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree as follows: I. PURCHASE AND SALE/PROPERTY SELLER agrees to sell and convey to CRA and CRA agrees to purchase and acquire from SELLER, on the terms and conditions hereinafter set forth, the Properties located in Palm Beach County, Florida (the "Properties ") and more particularly described as follows: PNC #0$434521250010110 Legal Description: FRANK WEBER ADD LT 11 & E I I FT OF LT 12 (LESS S 20 FT R/W I0 AVE) BLK 1 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be One Hundred Thirty Thousand and 001100 ($130,000.00) Dollars, payable in cash, by wire transfer of United States Dollars at the Closing. 3. DEPOSIT. 3.1 Earnest Money Deposit Within five (5) Business Days after the execution of the Purchase Agreement by both Purchaser and Seller CRA shall deliver to Lewis, Longman & Walker, PA ( "Escrow Agent ") a deposit in the amount of One Thousand Dollars ($1,000.00) Dollars (the "Deposit "). 3.2 Applicatian/D%sbursement 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 Parry, 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 Blanche H. Girtman Lot 11 -MLK PURCHASE AGREEMENT Page 2 of 14 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 CPA and SELLER., unless the misdelivery is due to Escrow Agent's willful breach of this Agreement or gross negligence_ If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable attorney's fees and costs to be paid from the escrowed funds which are charged and awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so long as Escrow Agent consents to arbitrate. 4. EFFECTIVE DATE. The effective date of the Purchase Agreement is the date that the Escrow Agent receives the Escrow Deposit and Escrow Agent executes the Agreement. 5. CLOSING. The purchase and sale transaction contemplated herein shall close on or before September 29, 2014, unless extended by other provisions of this Agreement or by written agreement, signed by both parties, extending the Closing. 6. TITLE TO BE CONVEYED At Closing, SELLER shall convey to CRA, by General Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined), valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions except only the following (collectively, the "Permitted Exceptions "): (a) general real estate taxes and special assessments for the year of Closing and subsequent years not yet due and payable; (b) covenants, conditions, easements, dedications, rights -of -way and matters of record included on the Title Commitment or shown on the Survey (defined in Section 7), to which CRA fails to object, or which CRA agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof. 7. FEASIBILITY PERIOD. The CRA, and its designees shall have up to forty -five (45) days from the Effective Date of this Agreement ( "Feasibility Period "), at CRA's expense, to make inquiries to determine if the Property is suitable for its intended use and to enter upon the Property, at any time and from time to time with reasonable notice to SELLER and so long as said investigations do not result in a business interruption, to perform any and all physical tests, inspections, valuation appraisals and investigations of the Property, including but not limited to Phase I and Phase 11 investigations, which CRA may deem necessary. During this Feasibility Period, CRA may elect, in CRA's sole and absolute discretion, to terminate this contract and receive back all Deposits hereunder. If CRA elects to terminate this Agreement in accordance with this Section., CRA shall: (i) leave the Property in substantially the condition existing on the Effective Date, subject to such disturbance as was reasonably necessary or convenient in the testing and investigation of the Property; (ii) to the extent practicable, shall repair and restore any damage caused to the Property by CRA's testing and investigation; and (iii) release to SELLER, at no cost, all reports and other work generated as a result of the CRA's testing and investigation. CRA hereby agrees to indemnify and hold SELLER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to CRA (including, without limitation, any construction liens resulting therefrom) or for damage to persons or property (subject to the limitation on practicability provided above) arising out of CRA's investigation of the Property. However, CRA's indemnification obligations shall not exceed its statutory limits as provided within Section Blanche 11. Gutman Lot 11 -MLK PURCHASE AGREEMENT Page 3 of 14 768 -28, Florida Statutes, and CRA does not waive its sovereign immunity rights. SELLER hereby agrees to indemnify and hold CRA harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to SELLER or for damage to persons or property (subject to the limitation on practicability provided above) arising out of CRA's investigation of the Property. SELLERS' obligations under this Section shall survive the termination, expiration or Closing of this Agreement. 7.1 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 CRA, in CRA's sole and absolute discretion, shall have the option of (i) extending the Cure Period and the Closing for one additional thirty (30) day period, or (ii) accepting the Title to the Property as of the time of Closing or (iii) canceling and terminating this Agreement, in which case, the Deposit shall be returned to CRA and the Parties shall have no further obligations or liability hereunder, except for those expressly provided herein to survive termination of this Agreement. Prior to the Closing, CRA shall have the right to cause the Title Company to issue an updated Title Commitment ( "Title Update ") covering the Property. If any Title Update contains any conditions which did not appear in the Title Commitment, and such items render title unmarketable, CRA shall have the right to object to such new or different conditions in writing prior to Closing. All rights and objections of the Parties with respect to objections arising from the Title Update shall be the same as objections to items appearing in the Title Commitment, subject to the provisions of this Section. 7.2. 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 11100th of an acre. If the Survey discloses encroachments on the Property or that improvements located thereon encroach on setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement, or applicable governmental regulations, the same shall constitute a title defect and shall be governed by the provisions of Section 7.1 concerning title objections. Blanche H. Girtman Lot 11 -MLK PURCHASE AGREEMENT Page 4of14 7.3 SELL ER DELVERIES SELLER shall deliver to CRA the following documents and instruments within ten (10) days of the Effective Date of this Agreement, except as specifically indicated: 7.3.1 Copies of any reports or studies (including engineering, environmental, soil borings, and other physical inspection reports), in SELLER' possession or control with respect to the physical condition or operation of the Property, if any. 7.3.2 Copies of all licenses, variances, waivers, permits (including but not limited to all surface water management permits, wetland resource permits, consumptive use permits and environmental resource permits), authorizations, and approvals required by law or by any governmental or private authority having jurisdiction over the Property, or any portion thereof (the "Governmental Approvals "), which are material to the use or operation of the Property, if any. 7.3.3 Prior to the Closing Date, SELLER shall execute and deliver to CRA any and all documents and instruments required by CRA, in CRA's sole and absolute discretion, which: (i) effectuate the transfer to CRA of those Governmental Approvals, or portions thereof which are applicable to the Property, that CRA desires to have assigned to it, and /or (ii) cause the Property to be withdrawn from any Governmental Approvals. No later than thirty (30) days prior to the Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the Governmental Approvals (including but not limited to any and all portions of the surface water management system, mitigation areas or other items which do not comply with the Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at the time of Closing, any unrecorded instruments affecting the title to the Property, including, but not limited to any conveyances, easements, licenses or Ieases. 8. CONDITIONS TO CLOSING. CRA shall not be obligated to close on the purchase of the Property unless each of the following conditions (collectively, the "Conditions to Closing ") are either fulfilled or waived by CRA in writing: 8.1. Re resentations and Warranties. All of the representations and warranties of SELLER contained in this Agreement shall be true and correct as of Closing. 8.2. Condition of Pro ert . The physical condition of the Property shall be the same on the date of Closing as on the Effective Date, reasonable wear and tear excepted. 8.3. Pending Proceedings. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever, pending or threatened, which has not been disclosed, prior to closing, and accepted by CRA. 8.4. Cam lance with Laws and Re lations. The Property shall be in compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of Closing. Blanche H. Girtman Lot 11 -MLK PURCHASE AGREEMENT Page 5 of 14 S.S. Occupancy. The property shall be conveyed to the CRA at time of closing unoccupied. The SELLER hereby warrants that there are no tenants on the property. 9. CLOSING DOCUMENTS_ The CRA shall prepare, or cause to be prepared, the Closing Documents set forth in this Section, except for documents prepared by the 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: 9.1. Deed. A Warranty Deed (the "Deed ") conveying to CRA valid, good, marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances and other conditions of title other than the Permitted Exceptions. 9.2 Seller's Affidavits. SELLER shall furnish to CRA an owner's affidavit attesting that, to the best of its knowledge, no individual or entity has any claim against the Property under the applicable construction lien law; and that there are no parties in possession of the Property other than SELLER. SELLER shall also furnish to CRA a non - foreign affidavit with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced above, the same shall be deemed an uncured title objection. 9.3. Closin2 Statement. A closing statement setting forth the Purchase Price, the Deposit, all credits, adjustments and prorations between CRA and SELLER, all costs and expenses to be paid at Closing, and the net proceeds due SELLER, which CRA shall also execute and deliver at Closing. 9.4. Corrective Documents. Documentation required to clear title to the Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions. 9.5. Additional Documents. Such other documents as CRA or the Title Company may reasonably request that SELLER execute and deliver, and any other documents required by this Agreement or reasonably necessary in order to close this transaction and effectuate the terms of this Agreement. 10. PRO RATIONS, CLOSING COSTS AND CLOSING PROCEDURES. 10.1. 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. 10.2 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 the Closing, the actual amount of assessed real property tax on the Property for the current year is Blanche H. Girtman Lot I I -MLK PURCHASE AGREEMENT Page 6 of 14 higher than any estimate of such tax used for purposes of the Closing, the parties shall re- prorate any amounts paid or credited based on such estimate as if paid in November. This shall survive the Closing. 10 -3. Special Assessment Liens. Certified, confirmed and ratified special assessment liens imposed by public bodies as of Closing are to be paid by SELLER. Pending liens as of Closing shall be assumed by CRA. If the improvement has been substantially completed as of the Effective Date, any pending lien shall be considered certified, confirmed or ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or assessment for the improvement by the public body. 10.4. Closing Costs. CRA shall be responsible for all documentary stamps on the deed, recording the deed and half of all general closing expenses (settlement fee, courier fees, overnight package, etc.). SELLER is responsible for their own legal fees. All other costs of closing shall be borne by CRA. 10.5 Closing Procedure. CRA shall fund the Purchase Price subject to the credits, offsets and prorations set forth herein. SELLER and CRA (as applicable) shall execute and deliver to Closing Agent the Closing Documents, The Closing Agent shall, at Closing: (i) disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marked -up" Title Commitment to CRA, and promptly thereafter, record the Deed and other recordable Closing Documents in the appropriate public records. 10.6 Existing Mort a es and Other Liens. At Closing, SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments applicable to and encumbering the Property. H. REPRESENTATIONS, COVENANTS AND WARRANTIE Seller's Representations and Warranties. To induce CRA to enter into this Agreement, SELLER makes the following representations, all of which, to the best of its knowledge, in all material respects and except as otherwise provided in this Agreement (i) are now true, and (ii) shall be true as of the date of the Closing unless SELLER receives information to the contrary, and (iii) shall survive the Closing. In that event, CRA shall be provided immediate notice as to the change to the following representations: 11.1 At all times from the Effective Date until prior to Closing, SELLER shall keep the Property (whether before or after the date of Closing) free and clear of any mechanic's or materialmen's liens for work or materials furnished to or contracted for, by or on behalf of SELLER prior to the Closing, and SELLER shall indemnify, defend and hold CRA harmless from and against all expense and liability in connection therewith (including, without limitation, court costs and reasonable attorney's fees). 11.2 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 Property by any organization, person, individual or governmental agency which would affect (as to any Blanche H. Girt man Lot 11 -MLK PURCHASE AGREEMENT Page 7 of 14 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. 11.3 SELLER has full power and authority to enter into this Agreement and to assume and perform its obligations hereunder 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 under, 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. 11.4 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. 11.5 SELLER represents that there are no parties other than SELLER in possession of the Property or any portion of the Property as a lessee. 11.6 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. 11.7 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. 11.$ 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 Blanche H. Girtman Lot 11 -MLK PURCHASE AGREEMENT Page 8 of 14 to regulate materials and substances in the environment (collectively "Governmental Authority(ies) "). 11.9 SELLER represents to CRA that the Land is not subject to any deed restrictions or declaration of restrictions running with the Land which would affect the use of the Land and all title matters to which SELLER's property is subject to is set forth on Exhibit " n3 11.10 Between the date of this Agreement and the date of closing, SELLER will not file any application for a change of the present zoning classification of the Land. 11.11 Authority. The execution and delivery of this Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER in accordance with its terms. The person executing this Agreement on behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this A re nt represents a valid and binding obligation of SELLER. 11.12 Title. SELLER is and will be on the Closing Date, the owner of valid, good, marketable and insurable fee simple title to the Property, free and clear of all liens, encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances of record which will be discharged at Closing). 11.13 Additional Warranties and Representations of SELLER. As a material inducement to CRA entering into this Agreement, SELLER, to the best of SELLER'S information and belief, hereby represents and warrants the following: 11. 13.1 There are no pending applications, permits, petitions, contracts, approvals, or other proceedings with any governmental or quasi- governmental authority, including but not limited to, CRA, municipalities, counties, districts, utilities, and/or federal or state agencies, concerning the use or operation of, or title to the Property or any portion thereof and SELLER has not granted or is not obligated to grant any interest in the Property to any of the foregoing entities. 11. 13.2 There are no facts believed by SELLER to be material to the use, condition and operation of the Property in the manner that it has been used or operated, which it has not disclosed to CRA herein, including but not limited to unrecorded instruments or defects in the condition of the Property which will impair the use or operation of the Property in any manner. 11. 13.3 To the best of SELLER'S knowledge, the Property and the use and operation thereof are in compliance with all applicable county and governmental laws, ordinances, regulations, licenses, permits and authorizations, including, without limitation, applicable zoning and environmental laws and regulations. 12. DEFAULT. 12.1. CRA's Default. In the event that this transaction fails to close due to a wrongful refusal to close or default on the part of CRA, subject to the provisions of Paragraph 12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow Blanche H. Girtman Lot 11 -MLK PURCHASE AGREEMENT Page 9 of 14 Agent to SELLER as agreed liquidated damages and, thereafter, neither CRA nor SELLER shall have any further obligation or liabilities under this Agreement, except for those expressly provided to survive the termination of this Agreement; provided, however, that CRA shall also be responsible for the removal of any liens asserted against the Property by persons claiming by, through or under CRA, but not otherwise. CRA and SELLER acknowledge that if CRA defaults, SELLER will suffer damages in an amount which cannot be ascertained with reasonable certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent most closely approximates the amount necessary to compensate SELLER. CRA and SELLER agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture provision. 12.2. Seller's Default. In the event that SELLER shall fail to fully and timely perform any of its obligations or covenants hereunder or if any of SELLER'S representations are untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement, CRA may, at its option: (1) declare SELLER in default under this Agreement by notice delivered to SELLER, in which event CRA may terminate this Agreement and demand that the Deposit be returned, including all interest thereon if any, in accordance with Section 3 and neither Party shall have any further rights hereunder, or (2) seek specific performance of this Agreement, without waiving any action for damages. 12.3. Notice of Default. Prior to declaring a default and exercising the remedies described herein, the non- defaulting Party shall issue a notice of default to the defaulting Party describing the event or condition of default in sufficient detail to enable a reasonable person to determine the action necessary to cure the default. The defaulting Party shall have fifteen (15) days from delivery of the notice during which to cure the default, provided, however, that as to a failure to close, the cure period shall only be three (3) Business Days from the delivery of notice. Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld. If the default has not been cured within the aforesaid period, the non - defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions of this Section 12 shall survive the termination of this Agreement. 13. NOTICES. All notices required in this Agreement must be in writing and shall be considered delivered when received by certified mail, return receipt requested, or personal delivery to the following addresses: If to Seller: Name: _Blanche Fl. Girtman CIO Claire Girtman -Gayle Address: P. O. Box 1552 City, State, Zip: Boynton Beach, FL 33425 -1552 Telephone: 561- 704 -8911 Email: gaylesll@att.net Blanche 11 Girunan Lot l ] -MLK PURCHASE AGREEMENT Page 10 of 14 If to Buyer: Vivian Brooks, Executive Director Boynton Beach Community Redevelopment Agency 710 N. Federal Highway Boynton Beach, FL 33435 With a copy to: Kenneth Spillias Lewis, Longman & Walker, PA CRA Attorney 515 North FIagler Drive Suite 1500 West Palm Beach, FL 33401 14. BINDING OBLIGATION /ASSIGNMENT The terms and conditions of this Agreement are hereby made binding on, and shall inure to the benefit of, the successors and permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement without the prior written consent of CRA, which shall not be unreasonably withheld. CRA shall have the right to assign this Agreement to the City of Boynton Beach (the "City ") without the prior consent of SELLER and the CRA shall be released from any further obligations and liabilities under this Agreement. The CRA may not assign this Agreement to any other party without the prior written approval of SELLER, which shall not unreasonably withheld. If CRA has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are in effect, the provisions of section 163.357(1), Florida Statutes, (as it may be amended from time to time), shall apply. 15. BROKER FEES The ,SELLER and BUYER hereby state that they have not dealt with a real estate broker in connection with the transaction contemplated by this Agreement and are not liable for a sales commission. SELLER shall indemnify, defend and hold harmless the CRA from and against any and all claims, losses, damages, costs or expenses (including, without limitation, attorney's fees) of any kind or character arising out of or resulting from any agreement, arrangement or understanding alleged to have been made by SELLER on its behalf with any broker or finder in connection with this Agreement. The provisions of this Section shall survive Closing or termination of this Agreement. 16. ENVIRONMENTAL CONDITIONS. 16.1. For purposes of this Agreement, pollutant ( "Pollutant ") shall mean any hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant, petroleum, petroleum product or petroleum by- product as defined or regulated by environmental laws. Disposal ( "Disposal ") shall mean the release, storage, use, handling, discharge, or disposal of such Pollutants. Environmental Iaws ( "Environmental Laws ") shall mean any applicable federal, state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions. 16.1.1 As a material inducement to CRA entering into this Agreement, SELLER hereby warrants and represents the following, as applicable: Blanche H. Girtman Lot 11 -MLK PURCHASE AGREEMENT Page 11 of 14 (1) That SELLER and occupants of the Property have obtained and are in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or contiguous property owned by SELLER, to the best of SELLER'S knowledge. (2) SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the Property. SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices on contiguous property that is owned by SELLER which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant affecting the SELLER'S property. (3) There is no civil, criminal or administrative action, suit, claim, demand, investigation or notice of violation pending or, to the best of that entity's knowledge, threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the Property, any portion thereof, or on any contiguous property owned by SELLER. 17. PUBLIC RECORDS. CRA is a public agency subject to Chapter 119, Florida Statutes. The SELLER is hereby notified that the PURCHASER is required by law, pursuant to Chapter 119, to maintain and disclose upon request all records deemed public under the statute including this Agreement and some or all of the documents necessary to consummate the transaction set forth herein. To the extent that any litigation should be instituted by SELLER, either directly or as a third party, to prevent or prohibit PURCHASER from disclosing or providing documents involving this Agreement or the transaction set forth in the Agreement pursuant to a public records request submitted under Chapter 119, SELLER agrees that PURCHASER may either: 1) defend the claim up to and including final judgment, or 2) interplead the challenged documents into the court. In either event, SELLER agrees to pay PURCHASER'S reasonable attorneys' fees and costs, both trial and appellate. i 8. MISCELLANEOUS. 18.1. General. This Agreement, and any amendment hereto, may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall, together, constitute one and the same instrument. The section and paragraph headings herein contained are for the purposes of identification only and shall not be considered in construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire Section, unless otherwise specified. No modification or amendment of this Agreement shall be of any force or effect unless in writing executed by the 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 of Florida. Blanche H. Girtman Lot 11 -MLK PURCHASE AGREEMENT Page 12 of 14 18.2. Computation of Time. Any reference herein to time periods which are not measured in Business Days and which are less than six (6) days, shall exclude Saturdays, Sundays and Iegal holidays in the computation thereof. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. on the next full Business Day. Time is of the essence in the performance of al l obligations udder this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the calculation thereof. 18.3. Waiver. Neither the failure of a party to insist upon a strict performance of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance of any item by a party with knowledge of a breach of this Agreement by the other party in the performance of their respective obligations hereunder, shall be deemed a waiver of any rights or remedies that a party may have or a waiver of any subsequent breach or default in any of such terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination of this Agreement and the Closing. 18.4. Construction of Agreement. The Parties to this Agreement, through counsel, have participated freely in the negotiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the Parties. As used in this Agreement, or any amendment hereto, the masculine shall include the feminine, the singular shall include the plural, and the plural shall include the singular, as the context may require. Provisions of this Agreement that expressly provide that they survive the Closing shall not merge into the Deed. 18.5. Severability. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The provisions of this Section shall apply to any amendment of this Agreement. 18.6 Handwritten Provisions Handwritten provisions inserted in this Agreement and initialed by CRA and SELLER shall control all printed provisions in conflict therewith. 18.7 Waiver of Jury Trial. As an inducement to CRA agreeing to enter into this Agreement, CRA and SELLER hereby waive trial by jury in any action or proceeding brought by either party against the other party pertaining to any matter whatsoever arising out of or in any way connected with this Agreement. 18.8. Attorne s Fees and Costs. Should it be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable attorneys' fees and costs, including those at the appellate level, shall be awarded to the prevailing party. 18.9 Binding Authorit . Each party hereby represents and warrants to the other that each person executing this Agreement on behalf of the CRA and SELLER has full right and Blanche H. Girtman Lot 11 -MLK PURCHASE AGREEMENT Page 13 of 14 lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 18.10 Recording This Agreement may be recorded in the Public Records of Palm Beach County, Florida. 18.11 Survival The covenants, warranties, representations, indemnities and undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and recording of the SELLER'S Property Deed and CRA's possession of the Property. 18.12 SELLER Attorneys' Fees and Costs SELLER acknowledges and agrees that SELLER shall be responsible for its own attorneys' fees and all costs, if any, incurred by SELLER in connection with the transaction contemplated by this Agreement. Blanche H. Girtman Lot 11 -MLK PURCHASE AGREEMENT Page 14 of 14 date. IN WITNESS WHEREOF„ the Parties have executed this Agreement as of the Effective BOYNTON BEACH COMMUNITY REDEVELOPMENT SELLER AGENCY By. C l' Print Name: Jerry Taylor Print Name: Blanche H. Girtman Title: Chair Date: Date: Witnesses: Witnesses: Witnesses: Witnesses: SELLER I�� °arst Na c: -- - - -- Date: Witnesses: Witnesses: ESCROW AGENT Lewis, Longman & Walker, PA By: Print Name. Blanche H. Girtman Lot 11 -MLK r , 1 CRA, ,i� It fan` }r iitk< o I CRA BOARD MEETING OF: June 10, 2014 'o sent Agenda I ! Old Bu siness ew Business I Legal I Executive Director's Repo rt SUBJECT: Consideration of Purchase Agreement between Brian J. Fitzpatrick and the CRA for the Property located at 137 West MLK Blvd. SUMMARY Brian J. Fitzpatrick is the owner of 137 West MLK Blvd. This lot is of interest to the CRA due to its location. The property is located in the proposed "Model Block" which is described in the updated Heart of Boynton Plan (attached). The Model Block project is an important part of the enhancement to the redeveloped Carolyn Sims Center and the Poinciana Elementary STEM Magnet School. See attached map for property location. An appraisal on the property was obtained on April 28, 2014 and is attached. Based on the appraisal, the location of the property within the Model Block project area and discussions with the owner, the CRA has made an offer of $125,000. See attached Purchase Agreement. FISCAL IMPACT: $125,000 Budget Line Item #02 -58200 -401 CRA PLAN, PRO OR PRO JECT: Heart of Boynton Community Redevelopment Plan Update RE COMMENDA T ION S/OPTIO NS: Approve the Purchase Agreement with Brian J. Fitzpatrick for the property located at 137 West MLK Blvd. in the amount of $125,000. rvi L. rooks Executive Director REDEVELOPMENT OPPORTUNETIES As of December 2013, the City and the CRA have identified five major redevelopment projects and project opportunities in the Heart of Boynton. (See 2013 Master Plan on the following page.) They include: 0 Model Block • MILK Commercial Center • Ocean Breeze East Mixed Use Development • Cottage District Infill Development • Sara Sims Park Expansion Of the projects listed above, the Sara Sims Paris expansion will be funded by the City and the CRA; the other four present an opportunity for the private sector with varying degrees of public investment, mainly in the form of publicly owned land and infrastructure improvements. The next section provides an overview of the projects, inciuding concept drawings. 1. MODEL BLOCK The proposed Model Block project is designed to enhance the redeveloped Carolyn Sims Center and the Poinciana Elementary STEM Magnet School. By utilizing City -awned vacant lots to build for -sale homes, new residents will be encouraged to live in this area of the Heart of Boynton community. Public improvements such as new sidewalks, streetlights and landscaping will remove blight, increase safety at the local elementary school, and heap to boost neighborhood pride. The project will also include some improvements to deteriorating adjacent properties. 3 'id Mf �q 4, f Jk, v 7r L� f ��r k1 kV 1 4_t r S r,!Fu ��r i" `"�w 1. S;S F SO f � Ir+th a �� t� art 4 .t 4 h WTI A r� �, !�r� � > r ii CA �J, - cc T ,l t (A ,{( k' C 4 tJ ( � k` ?+ S ( Sy 11 M, q t r t q ,y* 4" i �9 k�' J ,�, ` a 1�t` '�ht3j, ""'Ak° 1g �� & tr 1 A' if Zvi i rj ta� { 1 �u r ,, N t, g EN 3 ''5 P o l l 4 on t ar it ;Mr if A co a 10111 914 AP v I s111 � 1 " r�i 3 r 4 4P.,r �c 4 6 b } �r x 4"1 EVA J AWL s " h id A r y , r w.� s rt h 4 4 , p r, i ; r. a ti4 !` 17 i � ri k �� { '" ^ �'%�i ��Xa �� i� �� t .-" Wo DF' BLOCK AREA EXISTING CONDITI X r t tA� attM .. 1 � l vr V!, ,�A ...iiMW „ aor [F t i a y U i111�i1tS� '�uIXM l € € �'�� IN MODEL el+ BLOCK: CONCEPT DRAWINGS HEAR] OF BOYNTON 2013 MASTER PLAN ti is}£' tilt Ct 1 r E i rr 13 7 £4511 �" �� m Sy4�n 1 }) t MCW Riftk q i r 0 G' f �kr A v ti� 1 -.11f1 �t "• =Mlea,CPA 1 11 R MODEL RLOCK STRel;1'SCAPE; 39 2. MLK COMMERCIAL E T R HEART OF BOYNTON 2013 MASTER PLAN n 1 s V� kmd Vim M AiiiGfommpnal� 4 �418r s4 n pp ' 1 1 , � C �t bti 2, MLK COMMERCIAL CENTER The proposed MLK Commercial Center is consistent with the recommendations of the 2001 Heart of Boynton Plan, which emphasized the need for neighborhood services such as a grocery store, discount stores, restaurants etc, at the intersections of Martin Luther King, Jr. Boulevard with Seacrest Boulevard and with Federal Highway. The need for these services still exists today. The challenge to the development of these sites is the ability of the public and private parties to assemble land in sufficient quantity for commercial development. While the CRA owns many parcels, its ownership is interspersed by private ownership. 3. OC E A N EE EAST MI USE DE The proposed Ocean Breeze East development is planned for the eastern portion of the site of the Boynton Terrace multi - family project that was destroyed by the 2006 hurricanes. The 4.5 -acre, CRA -awned site is proposed as a multi- family use with a small commercial retail component facing Seacrest Boulevard. The architectural design will complement the surrounding community. The CRA will recommend that a Request for Proposals (RFP) for a project developer be issued in spring of 2014. 40 rHry Maps bttp:i.'www.pbegov.com papa /papagis.aspx ?gvalue -08... T a qW 'Search � I�` NW, 11th Ave Search Results Detail V �n g � � a ;, y n� m �' �� ' Ow ners t I d �r FITZPATRICK BRIAN J � I' Z� Prope detail a 137 W MARTIN LUTHER' Location r ;W,Marbn Lut#ier Kins� Jr r��. KING JR BLVD w Municipality BOYNTON BEACH C � Parcel No. 08434521250010220 WEBER FRANK ADD TO �`� '1 � t �' �� 4 ;,,. 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", "�: mA � r >>$aY�� Ra,SSV 1t ;7 ttt 'ft tll "�r �' t tli a S,1t } S� '=a r r;A � IJ ' �� !�, l y p � 1 1 ail \1 p tl �r ` ` _ . �� s • ' 2 . TIM i ii} r Si i i ti 1' t; � tt tit ' r rtt l t }�V ••r S' r�` st [- � � �� t }i }St� �� t 4;�I� t�� tlrJ� +i(S r c � }} t�; it ��fJy ., tg V i c } ,� 'mtl ,�1�'t`t, ,, �s.. ` `� ,,, i � }, r (c t{i , n : ,,. ,, �ia ,''�� , •r t �1ti'tft } \`� }7 � \ {'iS� ��q��`�� r S�t t \ (,7 {` '��t {�,(} ,! °t ;r Integra ea lty Resourc Appraisal of Real Property 137 West Martin Luther King Jr. Boulevard Residential Property 137 West Martin Luther King Jr. Boulevard Boynton Beach, Palm Beach County, Florida 33435 Prepared For: Boynton Beach CRA s Effective Date of the Appraisal: April 28, 2014 Report Format: Appraisal Report — Standard Format _ r�} IRR - Miami /Palm Beach,,` File Number: 169 - 2014 -0166 t s� c 4 i `'� lv } r 4 vt v� i tttt� rz r t � c r a � ,ro 137 West Martin Luther King Jr. Boulevard 137 West Martin Luther King Jr. Boulevard Boynton Beach, Florida Integra Realty Resources In Miami In Broward In Stuart The Douglas Centre The Newport Center Royal Palm 1 2600 Douglas Rd., Suite 801 1330 W Newport Center Dr. 819 S. Federal Hwy, Suite 201 Coral Gables, FL 33134 Deerfield Beach, FL 33442 Stuart, FL 34994 www.irr.com (305) 670 -0001 {954} 857 -2100 (772) 463 -4131 11, ,i �I( rti } ( + +' ',�, �,. April 30, 2014 Theresa Utterback Administrative Services Manager Boynton Beach CRA 710 North Federal Highway Boynton Beach, FL 33435 SUBJECT: Market Value Appraisal 137 West Martin Luther King Jr. Boulevard Boynton Beach, Palm Beach County, Florida 33435 IRR - Miami /Palm Beach File No. 169- 2014 -0166 Dear Ms. Utterback: Integra Realty Resources — Miami /Palm Beach is pleased to submit the accompanying appraisal of the referenced property. The purpose of the appraisal is to develop an opinion of the market value as is of the fee simple interest in the property. The client for the assignment is the Boynton Beach CRA, and the intended use is for property acquisition purposes. The appraisal is intended to conform with the Uniform Standards of Professional Appraisal Practice (USPAP), the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, applicable state appraisal regulations, and the appraisal guidelines of the Boynton Beach CRA. The appraisal is also prepared in accordance with the appraisal regulations issued in connection with the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA). To report the assignment results, we use the Appraisal Report option of Standards Rule 2- 2(a) of the 2014 -2015 edition of USPAP. As USPAP gives appraisers the flexibility to vary the level of information in an Appraisal Report depending on the intended use and intended users of the appraisal, we adhere to the Integra Realty Resources internal standards for an Appraisal Report — Standard Format. This type of report has a moderate level of detail. It summarizes the information analyzed, the appraisal methods employed, and the reasoning that supports the analyses, opinions, and conclusions. It meets or exceeds the former Theresa Utterback Boynton Beach CRA April 30, 2014 Page 2 Summary Appraisal Report requirements that were contained in the 2012 -2013 edition of USPAP. The subject is an existing single - family residential property. The improvements were constructed in 1968 and are currently leased for $1,200 per month as of the effective appraisal date. The site area is 0.16 acres or 6,974 square feet. Based on the valuation analysis in the accompanying report, and subject to the definitions, assumptions, and limiting conditions expressed in the report, our opinion of value is as follows: Value Conclusion Appraisal Premise _ InterestAppraised oateofValue Value Conclusion a rket Va I ue As I s Fee Si mple April 28, 2014 $80,000 Extraordinary Assumptions and Hypothetical Conditions The value conclusions are subject to the following extraordinary assumptions that may affect the assignment results. An extra ordin a ry assumption is uncertain information accepted as fact. If the assumption is found to be fa Ise as of the effective date of the appraisa I, we reserve the right to modify our va I ue concI us ions. N/A- None. The va I ue con cI us ions are based on the fol lowing hypotheti caIcon ditions that may affect the assignment results. A hypothetical condition is a condition contrary to known fact on the effective date of the appraisal but is supposed for the purpose of analysis. N /A- None. If you have any questions or comments, please contact the undersigned. Thank you for the opportunity to be of service. Respectfully submitted, Integra Realty Resources - Miami/Palm Beach w Harry C. Newstreet, MAI State Certified General Real Estate Appraiser Florida Certificate # RZ 2278 Director - Broward Telephone: 772 -463 -4131 Ext. 211 Email: hnewstreet @irr.com ®rr Table of Contents Summary of Salient Facts and Conclusions 1 Valuation 27 General Information 2 Valuation Methodology 27 Identification of Subject 2 Sales Comparison Approach 28 Current Ownership and Sales History 2 Value Indication 31 Purpose of the Appraisal 2 Income Capitalization Approach 32 Definition of Market Value 2 Leased status of the Property 32 Definition of As Is Market Value 3 Gross Income Multiplier Analysis 32 Definition of Property Rights Appraised 3 Reconciliation and Conclusion of Value 33 Intended Use and User 3 Exposure Time 33 Applicable Requirements 3 Marketing Period 33 Report Format 4 Certification 34 Prior Services 4 Assumptions and Limiting Conditions 36 Scope of Work 4 Addenda Economic Analysis 6 A Appraiser Qualifications Palm Beach County Area Analysis 6 B. Comparison of Report Formats Surrounding Area Analysis 11 C. Property Information Property Analysis 14 D. Engagement Letter Land Description and Analysis 14 Improvements Description and Analysis 18 Real Estate Taxes 24 Highest and Best Use 25 137 West Martin Luther King Jr. Boulevard ®rr, Summary of Salient Facts and Conclusions � Summa �� =�� ry �~� �� —��~° ��=�� °�0��==°= Address 1a7 West Martin Luther King Jr. Boulevard Boynton Beach, Palm Beach County, Florida sauas Property Type mcoiupnua| Owner vfRecord e,|unJFitzpatrick Tax ID 08-43-45-21-15+001'0220 Land Area 0.16 acres; 6,974 SF Number ofUnits 1 Gross ovi|ding Area 1 sr Rentable Floor Area 934 SP Year Built zeao Zoning Designation R2, Duplex Highest and Best Use ^u|fVacant Mu|ufam||vuse Highest and Best Use 'xsImproved Continued multifamily use Exposure Time; Marketing Period o»oomonths; 6uoymonths Effective Date vf the Appraisal April uu Date or the Report April 30,2014 Property Interest Appraised Fee Simple Market Value Indications custApp,uach Not Used Sales Comparison Approach $70 ($70,000/un|,) Income Capitalization Approach g93 (g*a'ono/u"/t) Market Value Cvndu,|on $80,000 ($80,000/onit) The values reported above are subjecttothe definitions, assumptions, and limiting conditions setforth inthe accompanying report ofwhichthis summary /,a part. wvn^rtv"m,,mo"oo'mon Beach cxAmov use ur~|vvn the information, onmmos conclusions contained mthe report. /t/sasumoumat the user "rmrreport have read the entire report, mc|"umoon",,»n definitions, oouw*m**^. and limiting conditions contained therein. ExtraordinarV Assumptions d Hypothetical Co d|ti The value conclusions are subject to the following extraordinary assumptions that may affect the assignment results. An extraordinary assumption is uncertain information accepted as fact. |f the assumption i, found tu be false as of the effective date of the appraisal, we reserve the rightto modify our value conclusions. N/A- None, The value conclusions are based on the following hypothetical conditions that may affectthe assignment results. 4hypothetical condition is m condition contrary to known fact on the effective date nf the appraisal but ix supposed for the purpose uf analysis. N/A'None. 1]7 West Martin Luther King Jr. Boulevard ��= General Information 2 General Information Identification of Subject The subject is an existing single- family residential property. The improvements were constructed in 1968 and are currently leased for $1,200 per month as of the effective appraisal date. The site area is 0.16 acres or 6,974 square feet. A legal description of the property is in the table below. P roperty ifii i Property Name 137 West Martin Luther King Jr. Boulevard Address 137 West Martin Luther King Jr. Boulevard Boynton Beach, Florida 33435 Tax ID 08- 43- 45 -21 -25 -001 -0220 Legal Description FRANK WEBER ADD LT 22 BLK 13 Census Tract Number 61 Current Ownership and Sales History The owner of record is Brian J Fitzpatrick. This party acquired the property from Stephen W. Hall, as Guardian of the property of Lottie Linton on May 18, 1994 for a price of $13,000. The transaction is recorded in OR Book 8274, Page 1055, of the Palm Beach County public records. To the best of our knowledge, no sale or transfer of ownership has occurred within the past three years, and as of the effective date of this appraisal, the property is not subject to an agreement of sale or option to buy, nor is it listed for sale. Purpose of the Appraisal The purpose of the appraisal is to develop an opinion of the market value as is of the fee simple interest in the property as of the effective date of the appraisal, April 28, 2014. The date of the report is April 30, 2014. The appraisal is valid only as of the stated effective date or dates. Definition of Market Value Market value is defined as: "The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: • Buyer and seller are typically motivated; • Both parties are well informed or well advised, and acting in what they consider their own best interests; 137 West Martin Luther King Jr. Boulevard 01" General Information 3 • A reasonable time is allowed for exposure in the open market; • Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and • The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale." (Source: Code of Federal Regulations, Title 12, Chapter 1, Part 34.42[g], also Interagency Appraisal and Evaluation Guidelines, Federal Register, 75 FR 77449, December 10, 2010, page 77472) Definition of As Is Market Value As is market value is defined as, "The estimate of the market value of real property in its current physical condition, use, and zoning as of the appraisal's effective date." (Source: The Dictionary of Real Estate Appraisal, Fifth Edition, Appraisal Institute, Chicago, Illinois, 2010, also Interagency Appraisal and Evaluation Guidelines, Federal Register, 75 FR 77449, December 10, 2010, page 77471) Definition of Property Rights Appraised Fee simple estate is defined as, "Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat." (Source: The Dictionary of Real Estate Appraisal, Fifth Edition, Appraisal Institute, Chicago, Illinois, 2010) Intended e and ser The intended use of the appraisal is for property acquisition purposes. The client and intended user is the Boynton Beach CRA The appraisal is not intended for any other use or user. No party or parties other than the Boynton Beach CRA may use or rely on the information, opinions, and conclusions contained in this report. Applicable Requirements This appraisal is intended to conform to the requirements of the following: • Uniform Standards of Professional Appraisal Practice (USPAP); • Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute; • Applicable state appraisal regulations; • Appraisal requirements of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), revised June 7, 1994; • Interagency Appraisal and Evaluation Guidelines issued December 10, 2010; 137 West Martin Luther King Jr. Boulevard ® rr General Information 4 • Appraisal guidelines of the Boynton Beach CRA, Report r This report is prepared under the Appraisal Report option of Standards Rule 2 -2(a) of the 2014 -2015 edition of USPAP. As USPAP gives appraisers the flexibility to vary the level of information in an Appraisal Report depending on the intended use and intended users of the appraisal, we adhere to the Integra Realty Resources internal standards for an Appraisal Report — Standard Format. This type of report has a moderate level of detail. It summarizes the information analyzed, the appraisal methods employed, and the reasoning that supports the analyses, opinions, and conclusions. It meets or exceeds the former Summary Appraisal Report requirements that were contained in the 2012 -2013 edition of USPAP. For additional information, please refer to Addendum B —Comparison of Report Formats. Prior Services USPAP requires appraisers to disclose to the client any other services they have provided in connection with the subject property in the prior three years, including valuation, consulting, property management, brokerage, or any other services. We have not performed any services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three -year period immediately preceding acceptance of this assignment. Scope of Work To determine the appropriate scope of work for the assignment, we considered the intended use of the appraisal, the needs of the user, the complexity of the property, and other pertinent factors. Our concluded scope of work is described below. Valuation Methodology Appraisers usually consider the use of three approaches to value when developing a market value opinion for real property. These are the cost approach, sales comparison approach, and income capitalization approach. Use of the approaches in this assignment is summarized as follows: Approaches to Value Approach Applicability to Subject Use in Assignment Cost Approach Not Applica ble Not Uti I ized Sales Comparison Approach Applicable Utilized Income Capitalization Approach Applicable Utilized The sales comparison approach is the most reliable valuation method for the subject due to the following: • There is an active market for properties similar to the subject, and sufficient sales data is available for analysis. • This approach directly considers the prices of alternative properties having similar utility. • This approach is typically most relevant for owner -user properties. 137 West Martin Luther King Jr. Boulevard 01rr General Information S The income capitalization approach is an applicable method for the subject due to the following: Sufficient market data regarding income, expenses, and rates of return, is available for analysis. The cost approach is not applicable to the subject considering the following: • The age of the property makes estimates of accrued depreciation very subjective. • There is a limited land market, making estimates of underlying land value subjective. • This approach is not typically used by market participants, except for new properties. Research and Analysis The type and extent of our research and analysis is detailed in individual sections of the report. This includes the steps we took to verify comparable sales, which are disclosed in the comparable sale profile sheets in the addenda to the report. Although we make an effort to confirm the arms - length nature of each sale with a party to the transaction, it is sometimes necessary to rely on secondary verification from sources deemed reliable. Inspection Harry C. Newstreet, MAI, conducted an interior and exterior inspection of the property on April 2, 2014. 0 1" 137 West Martin Luther King Jr. Boulevard Palm Beach County Area Analysis 6 Economic Analysis Palm Beach County Area Analysis Palm Beach County is located in southeastern Florida approximately 70 miles north of Miami. it is 1,970 square miles in size and has a population density of 687 persons per square mile. Palm Beach County is part of the Miami -Fort Lauderdale- Pompano Beach, FL Metropolitan Statistical Area, hereinafter called the Miami MSA, as defined by the U.S. Office of Management and Budget. Area Map OkEK1iOBEE ? 70; S T L U C 3'R E_ , Part 9t. Lec1e IGHLANPS': _ jenaen „ Beach Okeechobee N°rihj 131 er hares ................ ( sUmd Buckhead ( Y. Porl'SaAxrro erlglaSon X710= M A R T 1 N -e GLADES `..t, tie cpru"? o FI 5r�and ................. ............................... ?s ' °. Coned Port. ', , Paint Beach Moore Haven oG.rdeas ....... .. ck w. � "Wtanh ath =�ay Harlem .` B'Ie 41f'r Palm ° Y�ktst Paf n Berth ' Glade - Subject P A L M B 137 Martin Luther Khq k Bird. 1 ' Ram Beach south Bay Boynton Beach, FL, ;q; A t f a n t! t �.rke LBrltna U C 0 h T L O R I it A ' on Beach HENDRY Arthur P_ P f> Le"hM anal FtlFfmb�ro P j PmAkoe Gaul `.411 i Boca Rrten . .. "%aarneld Beach Si!3 a L rt a Coral Spril s p U 0 f !7 51 33 D :� C°e_` d Cr r ° °'nPro° Beaeh J r� t �• Oakland Park R D F f � � ° �, P19rch�leo `A K . Fort Lauderdale Coo6w CRY ° ;,, a GCLLP.R Eeerpllz�feEM€e ° U `s6:rcad rs7ar> mwO Area Pembroke Piftes I HoNywood o ese p . .. . `tlrm dole Beach esB Ys < el cky Cetlanel 2 JyPaOaPaa 097 , bar North Mlaml 0 M< 4 M 1 e a E 0 tv9Ck1it4E ''�n?ianl ,fir 0-9, z�- 1 'atrC� Ri' iw, - nr n= .6rlest 01110E ' ° IIN1nd Beach la °rkh lxvsuxa®i Population Palm Beach County has an estimated 2013 population of 1,353,652, which represents an average annual 0.8% increase over the 2010 census of 1,324,134. Palm Beach County added an average of i. 137 West Martin Luther King Jr. Boulevard Palm Beach County Area Analysis 7 11,173 residents per year over the 2010-2013 period, but its annual growth rate lagged the State of Florida rate of 1.0%. Population Trends 2010 Census 2013 EsL 21D18 Est, 20110 - 2013 2013 21018 Ci ty of Boca Paton 84,102 84,350 SS,53 0.1% 03% Palm Beach County, FL 1 1,353 1,414,824 0.8% 0,9% Florida 18 19 20,822,385 10% 1,0% Looking forward, Palm Beach County's population is projected to increase at a 0.9% annual rate from 2013-2018, equivalent to the addition of an average of 12,234 residents per year. Palm Beach County's growth rate is expected tmlag that of Florida, which |s projected tobe1.U%. Employment Trends in employment are a key indicator of economic health and strongly correlate with real estate demand. Total employment in Palm Beach County is currently estimated at 498,667 jobs. Between year-end 2002 and the present, employment declined by 23,717 jobs, equivalent to a 4.5% loss over the entire period. There were declines in employment in five out of the past ten years, influenced in part by two nationa I economic downturns during this time. Recently no clear trend has emerged, either positive or negative, but there was a net loss of jobs over the 2011-2012 period. Although many areas suffered drops in employment over the last decade, Palm Beach County underperformed Florida, which experienced a decline in employment of 0.8% or 56,495 jobs over this period. Employment data is shown in the table that follows. Employment Trends Palm Beach Pairn Beach 2002 522 7.36* 61% sJ% zomo 525.201 oa% 7,453,831 LM sz% 53% 2004 546.320 4.0% 7^726,652 37% 5,1m 4.6% aoms 56e.e49 33% 7,990.613 3,4% w,z1YO 3SY9 2006 578,835 22% 8^126,237 1.7m 3.6% a,a� 2007 567,730 'I � 91Y. 8,01*,408 aA% 42% *o% 2008 526,983 'T2% 7,585 -53% 6,5% 63% 2009 500,832 -5�0m 7'209,010 'som zoa% 10.4% 2010 500,197 -mu% 7.260,875 0.7% IIAm zz"M moil 511.716 23m 7.a64,075 L4m 10,7m 10.3% ooza~ 4e8,667 'z.e% 7.307'887 ��8% 9om 8.e% Overall Change zoou-zo1z -23.r17 4�5% '56,49s -0a% Avg umernp. Rate znnzanz2 74% 63% Unemployment Rate wmwemberzm13 64% 6,2% Source: n"reauof Labor Stmn~n=tand Ec°°"=,=am.rrnp�u fi are n=m the Quarterl o°ns"°of Emplo and Wa |CIPEW| Unemplo rates are from the c",rent Population m",sievppmThen are not ~e°°"°a/v°�. "^em� 137 West Martin Luther King Jr. Boulevard ®r Palm Beach County Area Analysis g Unemployment rate trends are another way of gauging an area's economic health. Over the past decade, the Palm Beach County unemployment rate has been consistently higher than that of Florida, with an average unemployment rate of 7.0% in comparison to a 6.7% rate for Florida. This is another indication of weakness in the Palm Beach County economy over the longer term. Recent data shows that the Palm Beach County unemployment rate is 6.4% in comparison to a 6.2% rate for Florida, a negative sign that is consistent with the fact that Palm Beach County has underperformed Florida in the rate of job growth over the past two years. Major employers in Palm Beach County are shown in the following table. Major Employers - Palm Beach County, FL _ Name Nurnbar of Ern Ioyees 1 Tenet Healthcare corporation 4,5€ 0 2 Hospital Corporation of America 3,411 3 Florida Power & Light 3,250 4 The Breakers 2,30£ offtioe Depot 2,180 6 U,S. Sugar Corporation 1,800 7 Florida Crystals 1,800 8 Baca Raton Resorts Club 1,650 9 AT&T 1,30() 10 Pratt & Whitney Rocketclyne 850 Source: Enterprise Florida, Inc. Gross Domestic Product Gross Domestic Product (GDP) is a measure of economic activity based on the total value of goods and services produced in a defined geographic area. Although GDP figures are not available at the county level, data reported for the Miami MSA is considered meaningful when compared to the nation overall, as Palm Beach County is part of the MSA and subject to its influence. Economic growth, as measured by annual changes in GDP, has been somewhat lower in the Miami MSA than the United States overall during the past eight years. The Miami MSA has grown at a 0.5% average annual rate while the United States has grown at a 1.0% rate. As the national economy recovers from the downturn of 2008 -2009, the Miami MSA continues to underperform the United States. GDP for the Miami MSA rose by 0.6% in 2011 while the United States GDP rose by 1.5 %. The Miami MSA has a per capita GDP of $40,804, which is 3% less than the United States GDP of $42,070. This means that Miami MSA industries and employers are adding relatively less value to the economy than their counterparts in the United States overall. 137 West Martin Luther King Jr. Boulevard l Palm Beach County Area Analysis g Gross Domestic Product 2004 223,630 12,199,532 2005 237 6.3% 12,539,116 3.8% 2006 246,258 3.6% 12,875,816 23% 2007 248,613 1.0% 13,103,341 1.8% 2008 242 -2.3% 13 -07% 2009 226 -6.6% 12 -M% 2010 229 1.4% 12/e18.931 3.1% znzz 231 0.6% 13.108'674 1.5% Compound Y6Chg(2004-2oli) 0.6% 1.0% GDP Per Capita 2O1z $40'804 $42 datanas,a langer lagtimw thannatio u � The figures in the table above represent inflation adjusted "real" GDP stated in 2005 dollars, Income, Education and Age Palm Beach County has a higher level of household income than Florida. Median household income for Palm Beach County is $47,875, which is 12.2% greater than the corresponding figure for Florida. Median Household Income - 2013 Pa�m8mm��wum��F� �4 7'Rrs Florida $42'662 Residents of Palm Beach County have a higher level of educational attainment than those of Florida. An estimated 32% of Palm Beach County residents are college graduates with four-year degrees, versus 26% of Florida residents. People in Palm Beach County are older than their Florida counterparts. The median age for Palm Beach County is 44 years, while the median age for Florida is 41 years. 137 West Martin Luther King Jr. Boulevard �® Palm Beach County Area Analysis 10 Ed ucation Age - 2 Percent College Graduate Median Age 6096` .,m._ .. ......... ... _m. �.,. , 70% � r'r a✓ 45 4it 1 ' i S i 60% 40 r412 } 4 `��? 1 j ?1'yf 1 v 4 i E 5096 35 m � P Q 30 r �1� �� 40% - �„ �(J��4� a lt �� 7 tii41n4�it4h2�)srh'� ��t 30% 2sS +ji r U�11 7 �� l sr�ls 4 �,�3,t��1h�' ,US > i' 2096 r4� 15 44 �i i11 �fs ��` , 1096' ._ 10�n.�� Palm Beach County, FL Florida Palm Beach Gounty, Florida FL source: CI arita s Conclusion The national economic downturn of 2008 -2009 had a greater impact on Palm Beach County than on many areas of the country, and thus far the recovery is proceeding at a slower pace. Over the longterm, Palm Beach County will benefit from a growing population base and higher income and education levels. Palm Beach County experienced a decline in the number of jobs, and had a consistently higher unemployment rate than Florida over the past decade. Considering all positive and negative factors, we anticipate that growth in Palm Beach County will be limited, resulting in a modest level of demand for real estate in general. 137 West Martin Luther King Jr. Boulevard i. Surrounding Area Analysis 11 Surrounding Isis L The subject is located in the City of Boynton Beach area of eastern Palm Beach County. Su rroundi ng r I i k NE Ate G_ ateway BSvd , � � I � �. �� = m L_ I r e°h' f' rn U r -� �I��, i I N 1J� 20th E' 13th - CLU �z we�xcK.tr re — If�l t,l` Gak St, = take Wor1P v� r N� 17Jh Ave ' , St Oi'W Dr S t o NE 16th �. .Ave I z � � — 1 Z- r I Island ; f }} ` NE t50 #ve i6 1� Park Ridge Blvd r gi��' ,� NE 14th Ave l i c o p Inlet Dr r t 137 Martin Luther Kx,g k Blvd. c - Shore Dr. 11 Beach, Ft. - � NE i3th Ave South Rd �s W ! m fill tlth A. a NW 11th Ave tr ca ..ay vy I1 NW 10th. Ave ' L_ tJE 10th Aqe �� M I� m NW 9th ;flue y ,AW 4 NW 81h Ave } I � cn fl ��,�! YE 7th Ave Inlet Gay'Dr —,I� I Old " I i !� �I 2 i � '�& NW 4th Ape r -- � Ocean Ride e' 2 1ve NW 2nd Av i . k ii4 hIW 2nd Ave " h :a_aa r- NW.2nd Pam NW 1st Ave rr � Nw lat Ave �� NE 161, Ave' d I I i w Ocean Ave ( ,,r W Ocean Ave d E ,Ocean Ave E Ocean Five SW 7st Ct: fi ',, � — �n SAN 1st�Ave� - m � II Hudson Ave Ir?[_ SW Ave n or : 0eean " �� °' r FA SW 5th Ave a SE 5th Ave 1r ; J I i co __ �W 6th Ave �5E 6th Ave m 1 7th Ave .L �I� SYV 8th Ave r :sw- nth Ave -jr Access and Linkages Primary highway access to the area is via Interstate 95, a limited access highway that extends through the Palm Beach County area in a north /south direction. Access to the subject from 1 -95 is provided by Boynton Beach Boulevard. Local access is provided by Federal Highway and Dixie Highway, which connect the subject neighborhood to Hypoluxo, to the north, and to Delray Beach, to the south. Public bus transportation is provided by Palm Tram and provides access to greater Palm Beach County. Public light passenger rail is provided by Tri -Rail, which connects Miami -Dade, Broward, and Palm Beach Counties. Overall, the primary mode of transportation in the area is the automobile. 1 !: 137 West Martin Luther King Jr. Boulevard Surrounding Area Analysis 12 Demographics A demographic profile of the surrounding area, including population, households, and income data, is presented in the following table. Surrounding Area Dernagmphicis a; award County, PopuNtion 2010 13,5A 84,938 IB2,948 1,148,066 �8,801,310 population 2014 14,038 sy,667 188,522 1,841,236 19,654,451 Population 2019 14,680 91,735 196,891 1,960,107 20,782,174 Compound m Change uo14 2019 0.9% 0.9% 13�9% 1.3m 1.11X Households 2010 4w65 16,196 18 696,04/ 1,420,802 Fie usuoola«zmm 5,301 3 /,613 84m0 11/ 1.1+5,850 Household 2019 5,675 ye 84,435 7e1 8.189,812 Compound mchanmea010zoz4 13m 1,0% 0.8w 11m 11w Compound 'A Ca^"ve2014 2019 Lw% I.om o�� zz% 1.1% Median Household /ncnm,m1* $36,1/6 $40,9e3 $*4,521 s*8,294 $44,318 Avm*meHmu*'mo|d Sis" zG 2.3 z.s 2,5 a,s mzncleGraduatelt moY, as% 28s amm zam Median Age sy 4a 45 *o 42 Owner o="r/"am 59% ssa 10% aeu a/% o,ntw Occupied IX 41* 34e as% aw% 33% Median Owner Occupied Housing Value 5137,683 $136.513 sz�710/a S1 m,/26 $155,80 Meu/un Yea ,ytcmctui eouxt 19,5 1981 zumz 1979 zyms mm»*mwnmrmvv w 24 zs mm ao As shown above, the current population within a 3-mile radius of the subject is 87,667, and the average household size is 2.3. Population in the area has grown since the 2010 census, and this trend is projected to continue over the next five years. Compared to Broward County overall, the population within a 3-mile radius is projected to grow at as|ower rate. Median household income is $40,963, which is lower than the household income for 8rovxard County. Residents within a 3-mile radius have a lower level of educational attainment than those of Broward County, while median owner occupied home values are considerably lower. Land Use The area |s suburban in character and approximately gO94developed. Land uses immediately surrounding the subject are predominantly residential with typical ages of building improvements ranging from 2Uto4Uyears. Property types adjoining the subject include single family and multifamily residential. Outlook and Conclusions The area is in the stable stage of its life cycle, Recent development activity has been limited due to the national economic doxvnturn. We anticipate that property values will remain stable in the near future. 137 West Martin Luther King Jr. Boulevard ® Surrounding Area Analysis 13 Boynton Beach Community Redevelopment Agency (CRA) The Boynton Beach CRA is a government agency dedicated to redevelopment of 1,650 acres in Boynton Beach. The agency is funded by Tax Increment Financing (TIF) and is legally accountable to the City Commission of Boynton Beach, the Palm Beach County Commission, the State of Florida Department of Community Affairs, the Palm Beach County Tax Appraiser and the State of Florida Auditor General. The agency intends to provide affordable housing, free special events and small business funding programs, which create a vibrant downtown core and revitalized neighborhoods. A map of the CRA boundaries and the subject's position is shown below. ' .« ..,.,,.' r .gym. k � C k � a � C �+rvm � � E Z • x. ° � m.. .z.m m.x "� iv9p wmw.aw x ..., E £ _ p p '. is ..m $ I ... a F �g ytw g bx+. a . ms.q 4 Y� p 1 137 West Martin Luther King Jr. Boulevard Land Description and Analysis 14 �� Land Description and Analysis Land Descripti Land Area 0.16 acres; 6,974 SF Source nf Land Area Public records Primary Street Frontage Martin Luther King Jr. 60 feet Shape Rectangular Corner No Topography Generally level and at street grade Draina8e Nu problems reported orobserved Environmental Hazards None reported o,observed Ground Stmbi|ity No problems reported or observed Flood Area Panel Number 1201960004C Date 9/31/1982 Zone C Description Areas nf minimal flooding Insurance Required? No Zonin& Other Regulations Zoning Jurisdiction City of Boynton Beach Zoning Designation R2 Description Duplex Legally Conforming? Yes ZoningchangeUke|y? No Permitted Uses Sing|efumi|y homes, duplex, type 1 group homes, and community gardens Minimum Lot Area 4,500 SF Minimum Street Frontage (Feet) 75' Minimum Setbacks (peet) Front '2S' Rear 'Z5' Interior side '10' Corner Side '%5' Maximum Building Height 25' Maximum Floor Area Ratio 8.1 Utilities Service Provider Water City of Boynton Beach Sewer City of Boynton Beach Electdcity FP&L buco| Phone Multiple providers 137 West Martin Luther King Jr. Boulevard ® Land Description and Analysis 15 Easements, Encroachments and Restrictions We were not provided a current title report to review. We are not aware of any easements, encroachments, or restrictions that would adversely affect value. Our valuation assumes no adverse impacts from easements, encroachments, or restrictions, and further assumes that the subject has clear and marketable title. Conclusion of Land Analysis Overall, the physical characteristics of the site and the availability of utilities result in functional utility suitable for a variety of uses including those permitted by zoning. We are not aware of any other particular restrictions on development. 137 West Martin Luther King Jr. Boulevard i Land Description and Analysis 16 KAI Map - R Y� tt Cr N \ #ri "n to II'!: 137 West Martin Luther King Jr. Boulevard Land Description and Analysis 17 F aN a u&,FP{#O'4 EM14 Ck fit: 141r Cn4a r ttr ° m NW ID * ST d NQ UAL M511AICE ►W45CI N m FLOOD INSURANCE RATE BAP it !CITY 6F P I� BON BEACH, F HfDA t - �� ?i PAL10 HFAC9 COUNTY FA LE4OF5 NE 2N °E i c {xAeunrn e.tn mgyg > 4 rt'ni nnross6st 7 mz y ONE C C1FURlTV FARES 11RdE11 125196 4604 C MAP REVMDE 30.1982 �.. �Fa�9iw�cyssxti bl M'�sro-sni Sxm,p Z A TAI fF tF m €nrar n :v t m9 r sn =wow rx rras.«�r� k -a 137 West Martin Luther King Jr. Boulevard ir�r. Improvements Description and Analysis 18 Improvements escrl ti a sis The subject is an existing single- family residential property. The improvements were constructed in 1968 and are currently leased for $1,200 per month as of the effective appraisal date. The site area is 0.16 acres or 6,974 square feet. Improvements Description Name of Property 137 West Martin Luther Ki ng Jr. Boulevard General Property Type Residential Property Sub Type Single-Family Residential Competitive Property Class C ccu anc T e Sin IeTenant Number of Buildings 1 Stories 1 Construction Class C Construction Type Masonry Construction Quality Average Condition AveraEe Number of Units 1 Units per Acre (Density) 6.2 Gross Building Area (SF) 1,408 Rentable FloorArea(SF) 934 Land Area (SF) 6,974 Floor Area Ratio (RFA/Land SF) 0.13 Floor Area Ratio (GBA/Land SF) 0.20 Buildin Area Source Public records Year Built 1968 Actua I Age (Yrs.) 46 Estimated Effective Age (Yrs.) 40 Estimated Economic Life (Yrs.) 60 R emaining Economic Life Yrs. 0 Number of Parking Spaces 2 Pa rki ng Type Surface 137 West Martin Luther King Jr. Boulevard 1 Improvements Description and Analysis 19 Construction Details Foundation Concrete slab Structural Frame Concrete block Exterior Wails Painted stucco Windows Single hung, aluminium frame Roof Hip Interior Finishes Floors Terrazzo Walls Painted drywall Cei l i ngs Pa i nted d rywa I I HVAC Win owunits El ectri ca I Residential grade - assumed to code Air Conditioning Window units Improvements Analysis Quality and Condition The quality and condition of the subject is considered to be inferior to that of competing properties. Functional Utility The improvements appear to be adequately suited to their current use, and there do not appear to be any significant items of functional obsolescence. ADA Compliance Based on our inspection and information provided, we are not aware of any ADA issues. However, we are not expert in ADA matters, and further study by an appropriately qualified professional would be recommended to assess ADA compliance. Hazardous Substances An environmental assessment report was not provided for review and environmental issues are beyond our scope of expertise. No hazardous substances were observed during our inspection of the improvements; however, we are not qualified to detect such substances. Unless otherwise stated, we assume no hazardous conditions exist on or near the subject. Personal Property No personal property items were observed that would have any material contribution to market value. Conclusion of Improvements Analysis In comparison to other competitive properties in the region, the subject improvements are rated as follows: 137 West Martin Luther King Jr. Boulevard ®r Improvements Description and Analysis Zp Improvements ai s Design and Appearance Average Age /Condition Average Room Sizes and Layouts Average Bathrooms Average Kitchens Average Landscaping Average Garages Average Overall, the quality, condition, and functional utility of the improvements are average for their age and location. 137 West Martin Luther King Jr. Boulevard ® Improvements Description and Analysis 21 ro 1 !J t t I ai �, `a '� >�4 +�: Xt� 11 1u 41-x, f,�s, ral ,"'.Ft,ba View of front exterior View of front exterior (Photo Taken on April 28, 2014) (Photo Taken on April 28, 2014) ��•� �` 5q I �i View of rear exterior Vier of imerior (Photo Taken on April 28, 2014) (Photo 'Ia yen on April 28, 2014) g�icsr „�i i {t�ia� +SI14,jV, S'4i t ill's; c 1�1} }� c s , (.. t 5 5 { View of bedroom View of kitchen (Photo Taken on April 28, 2014) (Photo Taken on April 28, 2014) 1 . 137 West Martin Luther King Jr. Boulevard Improvements Description and Analysis 22 y'4� @q pp 1 g 1 1ixS T� ,�ty7��iit jxl r .7F' K, "fix i 3' t '£ View of restroom View of back yard (Photo Taken on April 28, 2014) (Photo Taken on April 28, 2014) 1 „ 1� z�` View looking west on Martin Luther King Boulevard View looking east on Martin Luther King Boulevard (Photo Taken on April 28, 2014) (Photo Taken on April 28, 2014) 137 West Martin Luther King Jr. Boulevard ir. Improvements Description and Analysis 23 Floor Plan Sketch for Building 1 „ 1, 2, e u i - F r e a It't; 137 West Martin Luther King Jr. Boulevard Real Estate Taxes 24 Real Estate Taxes Real estate tax assessments are administered by Broward County. Real estate taxes in this state and this jurisdiction represent ad valorem taxes, meaning a tax applied in proportion to value. The real estate taxes for an individual property may be determined by dividing the assessed value for a property by 100, then multiplying this amount by the millage rate. Real estate taxes and assessments for the current tax year are shown in the following table. Taxes and Assessments - 20 Assessed Value Taxes and Assessments Ad Valorem Tax ID Land Improvements Total Tax Rate Taxes Direct Assessments Total 08-43- 45- 21 -25- 001 -0220 $7,800 $29,458 $37,258 2.228058% $830 $262 $1,092 The millage rate is generally finalized in October of each year, and tax bills are received in late October or early November. If the taxes are paid prior to November 30 th , the State of Florida allows a 4% discount. The discount is reduced to 3% if the taxes are paid in December, 2% if paid in January of the following year, 1% if paid in February, and the gross taxes are due before March 31" of the following year. After March 31 St , the taxes are subject to interest. For reference purposes, the subject has been assigned the tax identification number indicated in the chart above. The millage in the most recent tax year is 2.228058 %. For the most recent tax year, 2013, the estimated real estate taxes for the subject are the combined assessed value of $47,961, divided by 100, then multiplied by the millage rate of 2.228058% for a total of $919. In addition to real estate taxes the subject property was assessed non ad- valorem taxes in the amount of $262. The total tax liability for the subject property is $1,181. According to the Palm Beach County Tax Collectors Office, there are no delinquent taxes for the subject property, however the 2013 taxes have not been paid and are due by March 31. Historical real estate taxes and assessments for the current tax year are shown in the following table. History Tax Total Assessed Ad Valorem Direct Tax Year Value Tax Rate Taxes Assessments Total %Change 2011 $59,074 2.27098% $1,342 $262 $1,604 2012 $32,933 2.26839% $747 $262 $1,009 -37.1% 2013 $37,258 2.22806% $830 $262 $1,092 82% Based on the concluded market value of the subject, the assessed value appears reasonable. 137 West Martin Luther King Jr. Boulevard ®r Highest and Best Use 25 Highest Process Before a property can be valued, an opinion of highest and best use must be developed for the subject site, both as if vacant, and as improved or proposed. By definition, the highest and best use must be: • Physically possible. • Legally permissible under the zoning regulations and other restrictions that apply to the site. • Financially feasible. • Maximally productive, i.e., capable of producing the highest value from among the permissible, possible, and financially feasible uses. As If Vacant Physically Possible The physical characteristics of the site do not appear to impose any unusual restrictions on development. Overall, the physical characteristics of the site and the availability of utilities result in functional utility suitable for a variety of uses. Legally Permissible The site is zoned R -2, Residential. Permitted uses include single family homes, duplex, type 1 group home, and community garden. To our knowledge, there are no legal restrictions such as easements or deed restrictions that would effectively limit the use of the property. Given prevailing land use patterns in the area, only residential use is given further consideration in determining highest and best use of the site, as though vacant. Financially Feasible Based on our analysis of the market, there is limited demand for additional residential development at the current time. It appears that a newly developed residential use on the site would not have a value commensurate with its cost; therefore, residential use is not considered to be financially feasible. Nevertheless, we expect an eventual recovery of the market accompanied by a rise in property values to a level that will justify the cost of new construction. Thus, it is anticipated that residential development will become financially feasible in the future. Maximally Productive There does not appear to be any reasonably probable use of the site that would generate a higher residual land value than holding the property for future development of a residential use. Accordingly, it is our opinion that holding the property for future residential use, based on the normal market density level permitted by zoning, is the maximally productive use of the property. 137 West Martin Luther King Jr. Boulevard ®r Highest and Best Use 26 Conclusion Holding the property for future development of a residential use is the only use that meets the four tests of highest and best use. Therefore, it is concluded to be the highest and best use of the property as if vacant. As Improved The subject site is developed with a single family house, which is consistent with the highest and best use of the site as if it were vacant. Based on our analysis, there does not appear to be any alternative use that could reasonably be expected to provide a higher present value than the current use, and the value of the existing improved property exceeds the value of the site, as if vacant. For these reasons, continued residential use is concluded to be maximally productive and the highest and best use of the property as improved. Most Probable Buyer Taking into account the size and characteristics of the property and its owner occupancy, the likely buyer is an owner -user. 137 West Martin Luther King Jr. Boulevard it Valuation Methodology 27 Valuation Valuation Methodology Appraisers usually consider three approaches to estimating the market value of real property. These are the cost approach, sales comparison approach and the income capitalization approach. The cost approach assumes that the informed purchaser would pay no more than the cost of producing a substitute property with the same utility. This approach is particularly applicable when the improvements being appraised are relatively new and represent the highest and best use of the land or when the property has unique or specialized improvements for which there is little or no sales data from comparable properties. The sales comparison approach assumes that an informed purchaser would pay no more fora property than the cost of acquiring another existing property with the same utility. This approach is especially appropriate when an active market provides sufficient reliable data. The sales comparison approach is less reliable in an inactive market or when estimating the value of properties for which no directly comparable sales data is available. The sales comparison approach is often relied upon for owner -user properties. The income capitalization approach reflects the market's perception of a relationship between a property's potential income and its market value. This approach converts the anticipated net income from ownership of a property into a value indication through capitalization. The primary methods are direct capitalization and discounted cash flow analysis, with one or both methods applied, as appropriate. This approach is widely used in appraising income - producing properties. Reconciliation of the various indications into a conclusion of value is based on an evaluation of the quantity and quality of available data in each approach and the applicability of each approach to the property type. The methodology employed in this assignment is summarized as follows: Approaches to Val Approach Ap licabiUtytoSubject Use in Assignment Cost Approach Not Applicable Not Utilized Sales Compa ris on Approach Applicable Utilized Incom C apitalization Approach AppFcable Utilized 137 West Martin Luther King Jr. Boulevard Sales Comparison Approach Zg Sales ris The sales comparison approach develops an indication of value by comparing the subject to sales of similar properties. The steps taken to apply this approach are: Identify relevant property sales; • Research, assemble, and verify pertinent data for the most relevant sales; • Analyze the sales for material differences in comparison to the subject; • Reconcile the analysis of the sales into a value indication for the subject. To apply the sales comparison approach, we searched for sale transactions within the following parameters: • Property Type: Single Family Home • Location: Boynton Beach • Size: Three Bedroom, One Bathroom • Age /Quality: As similar to the subject as possible •, Transaction Date: January 1, 2013 to present. In our analysis, we are using a whole -to -whole comparison because market participants typically compare sale prices and property values on this basis. The most relevant sales are summarized in the following table. Analysis of Comparable Improved Saps Square feet; Overa I1 Acres; year Sa le Date; Effective Adjustment No. Na melAddress Built Statu Sa le Pr ice $ /unit Applied Ad! ustmeni Comments Subiect 934 137 West Ma rti n Luther Ki ng Jr .Boulevard 0.1601 137 West Marti n Luther Ki ng Jr. Boulevard 1968 Boynton Beach Palm B County, FL 1 401 NW 2nd Street 1,075 Nov -13 $76,000 $71 Down Sale 1 was built in 1956 and is rated similar for age, Is 401 NW 2nd Street 0,1861 Closed 141 square feet larger and is rated superior for size, and Boynton Beach lyst is in above average condition and is rated superior. Pal m B FL 2 112 SE Sth Avenue 900 Aug -13 $55,000 $61 Up Sa le 2 was bui It l n 1953 a nd i s rated s imilar for age, is 112 SE 8th Avenue 0.21 Closed rated inferior for size, a nd is i n below average condition Boynton Beach 1953 and is rated inferior. Pal Be ach, FL 3 411 NW 13th Avenue 1,008 Jul -13 $67,000 $66 None Sale 3 was built in 1974 and is rated superior for age, is 411 NW 13th Avenue 0.1349 Closed rated i nferi or for si ze, and i s in average condition a nd is Boynton Beach 1514 rated similar. Pal Be ach,fL 4 409 NW 9th Avenue 1,062 Jun -13 $55,000 $52 Up Sale 4 was huiltin 1972 and is rated superiorfor age, is 409 NW 9th Avenue 0.1719 Closed 128 square feet larger and is rated superior for size, and Boynton Beach 1972 is in bel ow avera ge condition and is rated inferior. Pa I m Bea ch, rL Indicated Value $70,000 137 West Martin Luther King Jr. Boulevard t Sales Comparison Approach zg Comparable Improved Sales Map p,� m, k NE 15th qy® Sgavew Ciiete Park -Ridge Blvd Comparable sale 3 - 151h P1 I4 411 NW 13th Ave - = li Boynton Beach, rL NE 14f a 46 . Subject J.,�. Sharp Dr t .' 137 W, Mart?n Luther nV f L e watt AI W 13th..Are �i # # zf NW 13th A. - Averwe ,it "on Beach, FL 33435 m H t Mariners Way m � � NW 121h Aue = .-• NW 11th Ave `o NE lith Ave - s1' .t i(17#i Ave m j NW loth Ave --- _ _ NE loth Ave i W 'NW 9th A J z NE 9th AYe NE 8th 'Ave - s ' rn Nw � r 8th Avel I 7" Comparable sale a NE 8th Ave . I� 1ti [n �Ynton Beach, ft 33435 �' t CIE 7th Ave i 4 rn r NE 8th' Awe � r E �� ,� rrvv am Ave F . _ • �� $ h.!. Boynton NW Zntl Avi? N 7 _ comparable sak t 2ndl Avs q -B-h rit[ Pare �.. �._ 401 NW 2'd st NW 1St AV. i 'Boynton Beach, FL33435 it NE 1st Ave W Ocean Ave V1+'cean Ave d r f G "� I,f [n =' E -Ocean Aye E Ocean Ave SW 1'st Ct� 't - i�� l� 2a -'L.— ifl c+� m Q ��_ j'•, SW "1st m- SE Ist Awe: �} , i SW �nd Ave - i. �° a] E 2nd 4ve, a.n Woe 2nd Ava -�i ��- a SE3rdAvs i � 12 1 f SW 3rd Aye s i r _ I I SW'4th Ave 5W 5th 6W dth Ave I� _ ! SEe 4 1` JLI Ave FEh s 2 I �' Ave I ' _ I.�__1I ach, FL 33435 rOIN 61h Ave W 6th Abe SW '71h Ave - S it ] f f SW 8th Axe S 8th Five m t]r I. SW 9th Ave a SE 9th Aye P EL Harbour Or N =, SW 10th Ave '5E 10th Ava c l � , t HarbourDr 5 137 West Martin Luther King Jr. Boulevard I Sales Comparison Approach 30 Awl 41 1 R� V Sale 1 Sale 2 401 NW 2 nd Street 112 SE Bch Avenue I t , Sale 3 Sale 4 411 NW 13 Avenue 409 NW 9 Avenue 137 West Martin Luther King Jr. Boulevard F Sales Comparison Approach 31 Value indication We arrive at a value indication as follows: Value Indication by Sales Comparison Indicated Value per Unit $70,000 Subject Units I Indicated Value $70,000 Rounded $70,000 137 West Martin Luther King Jr. Boulevard ®r Income Capitalization Approach 32 Income Capitalization Approach The income capitalization approach converts anticipated economic benefits of owning real property into a value estimate through capitalization. Leased status of the Property The subject is currently leased to a single tenant for $1,200 per month. Gross Income Multiplier Analysis We also use the Gross Income Multiplier (GIM) method. The following table summarizes the gross income multipliers for the comparable sales in Boynton Beach Gross Incorrie Mult iplier Sales Propert Desc Sale P rice Gross Incorne .. W 216 SE Ist Street 3 B RA 6u house a O urillex S150,0 S32,100 467 510 N 11th AWenue Dup!ex SICO30DO $18,000 5,56 423 NE Ist Street Dopi $52,500 $13,800 3,80 708 let Avenue DupieA S235,000 $33,&X) 699 701 S6 4t h Street a �e ' C'230, 00c) $24,000 9 227 SW 2nd Avenue Oupl ex $36a 160,000 S27,600 S 141 SW 6t4 venue Oupfex $175,000 $26,400 6,63 A 3.W Pat r verge Duplex $133 S22,800 6.69 206 SW 3rd Street. DupleN $270,0 $28,200 6.03 190 27th Pace Duplex 5 160,OC* $2 i'000 T62 611 S E 3rd St S i ngie F arm;,; Horne $ 3 10,2 00 7.1.5 Aver a. 6444 The GIMs range from 4.67 to 9.58 and average 6.44. In our analysis, we have utilized the average GIM of 6.44. Accordingly, we arrive at a value indication by the GIM analysis as follows: G IM Analysis Subject Gross Annual Income GIM Indicated Value $ 14 , 400 , 6.44 $92,736 Rounded $93,00 137 West Martin Luther King Jr. Boulevard i. Reconciliation and Conclusion ofValue 33 Reconciliation and Conclusion of Value The values indicated 6w our analyses are ayfollows: Summary of Value Indications CostApproach Not Used Sales Comparison Approach $70 Income Capitalization Approach $93 Reconciled $80,000 Value Conclusion Appraisal Premise Interest Appraised Date of Vaiue Value Forld - usion Market Value As Is FeeSimple April 28,2014 $8o,000 Extraordinary Assumptions and Hypothetical C 6>t| The value conclusions are subjectto the following extraordinary assumptions that may affectthe assignment results. An extraordinary assumption is uncertain information accepted as fact. If the assumption is found to befalseas of the effective date of the appraisal, we reservethe rightto modify our value conclusions. N/A None. The value conclusions are based on thefollowing hypothetical conditions that may affect the assignment results. Ahypothetical condition is a condition contraryto known facton the effective date of theappraisal but io supposed for the purpose of analysis. N/A None. Exposure Time Exposure time is the length of time the subject property would have been exposed for sale in the market had it sold on the effective valuation date at the concluded market value. Based on the concluded market value stated previously, it is our opinion that the probable exposure time is 6 to 9 months. Marketing Period Marketing time is an estimate of the amount of time it might take to sell a property at the concluded market value immediately following the effective date of value. We estimate the subject's marketing period at6to9months. 137 West Martin Luther King Jr. Boulevard �® Certification 34 Certification We certify that, to the best of our knowledge and belief: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are our personal, impartial, and unbiased professional analyses, opinions, and conclusions. 3. We have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. 4. We have not performed any services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three -year period immediately preceding acceptance of this assignment. 5. We have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 6. Our engagement in this assignment was not contingent upon developing or reporting predetermined results. 7. 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. 8. Our analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice as well as applicable state appraisal regulations. 9. The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. 10. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. 11. Harry C. Newstreet, MAI, made a personal inspection of the property that is the subject of this report. 12. No one provided significant real property appraisal assistance to the person(s) signing this certification. 13. We have experience in appraising properties similar to the subject and are in compliance with the Competency Rule of USPAP_ 137 West Martin Luther King Jr. Boulevard 10 Certification 35 14. As of the date of this report, Harry C. Newstreet, MAI completed the continuing education program for Designated Members of the Appraisal Institute. 4 "ter ".. . Harry C. Newstreet, MAI State Certified General Real Estate Appraiser Florida Certificate # RZ 2278 Director - Broward Telephone: 772 - 463 -4131 Ext. 211 Email: hnewstreet @irr.com 137 West Martin Luther King Jr. Boulevard ®r Assumptions and Limiting Conditions 36 Assumptions and Limiting Conditions This appraisal and any other work product related to this engagement are limited by the following standard assumptions, except as otherwise noted in the report: 1. The title is marketable and free and clear of all liens, encumbrances, encroachments, easements and restrictions. The property is under responsible ownership and competent management and is available for its highest and best use. 2. There are no existing judgments or pending or threatened litigation that could affect the value of the property. 3. There are no hidden or undisclosed conditions of the land or of the improvements that would render the property more or less valuable. Furthermore, there is no asbestos in the property. 4. The revenue stamps placed on any deed referenced herein to indicate the sale price are in correct relation to the actual dollar amount of the transaction. 5. The property is in compliance with all applicable building, environmental, zoning, and other federal, state and local laws, regulations and codes. 6. The information furnished by others is believed to be reliable, but no warranty is given for its accuracy. This appraisal and any other work product related to this engagement are subject to the following limiting conditions, except as otherwise noted in the report: 1. An appraisal is inherently subjective and represents our opinion as to the value of the property appraised. 1 The conclusions stated in our appraisal apply only as of the effective date of the appraisal, and no representation is made as to the effect of subsequent events. 3. No changes in any federal, state or local laws, regulations or codes (including, without limitation, the Internal Revenue Code) are anticipated. 4. No environmental impact studies were either requested or made in conjunction with this appraisal, and we reserve the right to revise or rescind any of the value opinions based upon any subsequent environmental impact studies. If any environmental impact statement is required by law, the appraisal assumes that such statement will be favorable and will be approved by the appropriate regulatory bodies. 5. Unless otherwise agreed to in writing, we are not required to give testimony, respond to any subpoena or attend any court, governmental or other hearing with reference to the property without compensation relative to such additional employment. 6. We have made no survey of the property and assume no responsibility in connection with such matters. Any sketch or survey of the property included in this report is for illustrative purposes only and should not be considered to be scaled accurately for size. The appraisal 1 137 West Martin Luther King Jr. Boulevard Assumptions and Limiting Conditions 37 covers the property as described in this report, and the areas and dimensions set forth are assumed to be correct. 7. No opinion is expressed as to the value of subsurface oil, gas or mineral rights, if any, and we have assumed that the property is not subject to surface entry for the exploration or removal of such materials, unless otherwise noted in our appraisal. 8. We accept no responsibility for considerations requiring expertise in other fields. Such considerations include, but are not limited to, legal descriptions and other legal matters such as legal title, geologic considerations such as soils and seismic stability; and civil, mechanical, electrical, structural and other engineering and environmental matters. Such considerations may also include determinations of compliance with zoning and other federal, state, and local laws, regulations and codes. 9. The distribution of the total valuation in the report between land and improvements applies only under the reported highest and best use of the property. The allocations of value for land and improvements must not be used in conjunction with any other appraisal and are invalid if so used. The appraisal report shall be considered only in its entirety. No part of the appraisal report shall be utilized separately or out of context. 10. Neither all nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraisers, or any reference to the Appraisal Institute) shall be disseminated through advertising media, public relations media, news media or any other means of communication (including without limitation prospectuses, private offering memoranda and other offering material provided to prospective investors) without the prior written consent of the persons signing the report. 11. Information, estimates and opinions contained in the report and obtained from third -party sources are assumed to be reliable and have not been independently verified. 12. Any income and expense estimates contained in the appraisal report are used only for the purpose of estimating value and do not constitute predictions of future operating results. 13. If the property is subject to one or more leases, any estimate of residual value contained in the appraisal may be particularly affected by significant changes in the condition of the economy, of the real estate industry, or of the appraised property at the time these leases expire or otherwise terminate. 14. Unless otherwise stated in the report, no consideration has been given to personal property located on the premises or to the cost of moving or relocating such personal property; only the real property has been considered. 15. The current purchasing power of the dollar is the basis for the values stated in the appraisal; we have assumed that no extreme fluctuations in economic cycles will occur. 15. The values found herein is subject to these and to any other assumptions or conditions set forth in the body of this report but which may have been omitted from this list of Assumptions and Limiting Conditions. 17. The analyses contained in the report necessarily incorporate numerous estimates and assumptions regarding property performance, general and local business and economic 137 West Martin Luther King Jr. Boulevard I ®r Assumptions and Limiting Conditions 38 conditions, the absence of material changes in the competitive environment and other matters. Some estimates or assumptions, however, inevitably will not materialize, and unanticipated events and circumstances may occur; therefore, actual results achieved during the period covered by our analysis will vary from our estimates, and the variations may be material. 18. The Americans with Disabilities Act (ADA) became effective January 26, 1992. We have not made a specific survey or analysis of the property to determine whether the physical aspects of the improvements meet the ADA accessibility guidelines. We claim no expertise in ADA issues, and render no opinion regarding compliance of the subject with ADA regulations. Inasmuch as compliance matches each owner's financial ability with the cost to cure the non- conforming physical characteristics of a property, a specific study of both the owner's financial ability and the cost to cure any deficiencies would be needed for the Department of Justice to determine compliance. 19. The appraisal report is prepared for the exclusive benefit of the Client, its subsidiaries and /or affiliates. It may not be used or relied upon by any other party. All parties who use or rely upon any information in the report without our written consent do so at their own risk. 20. No studies have been provided to us indicating the presence or absence of hazardous materials on the subject property or in the improvements, and our valuation is predicated upon the assumption that the subject property is free and clear of any environment hazards including, without limitation, hazardous wastes, toxic substances and mold. No representations or warranties are made regarding the environmental condition of the subject property. Integra Realty Resources — Miami /Palm Beach, Integra Realty Resources, Inc., Integra Strategic Ventures, Inc. and /or any of their respective officers, owners, managers, directors, agents, subcontractors or employees (the "Integra Parties "), shall not be responsible for any such environmental conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because we are not experts in the field of environmental conditions, the appraisal report cannot be considered as an environmental assessment of the subject property. 21. The persons signing the report may have reviewed available flood maps and may have noted in the appraisal report whether the subject property is located in an identified Special Flood Hazard Area. We are not qualified to detect such areas and therefore do not guarantee such determinations. The presence of flood plain areas and /or wetlands may affect the value of the property, and the value conclusion is predicated on the assumption that wetlands are non- existent or minimal. 22. Integra Realty Resources — Miami /Palm Beach is not a building or environmental inspector. Integra Miami /Palm Beach does not guarantee that the subject property is free of defects or environmental problems. Mold may be present in the subject property and a professional inspection is recommended. 23. The appraisal report and value conclusions for an appraisal assume the satisfactory completion of construction, repairs or alterations in a workmanlike manner. 24. It is expressly acknowledged that in any action which may be brought against any of the Integra Parties, arising out of, relating to, or in any way pertaining to this engagement, the 137 West Martin Luther king Jr. Boulevard I ®r Assumptions and Limiting Conditions 39 appraisal reports, and /or any other related work product, the Integra Parties shall not be responsible or liable for any incidental or consequential damages or losses, unless the appraisal was fraudulent or prepared with intentional misconduct. It is further acknowledged that the collective liability of the Integra Parties in any such action shall not exceed the fees paid for the preparation of the appraisal report unless the appraisal was fraudulent or prepared with intentional misconduct. Finally, it is acknowledged that the fees charged herein are in reliance upon the foregoing limitations of liability. 25. Integra Realty Resources — Miami /Palm Beach, an independently owned and operated company, has prepared the appraisal for the specific intended use stated elsewhere in the report. The use of the appraisal report by anyone other than the Client is prohibited except as otherwise provided. Accordingly, the appraisal report is addressed to and shall be solely for the Client's use and benefit unless we provide our prior written consent. We expressly reserve the unrestricted right to withhold our consent to your disclosure of the appraisal report or any other work product related to the engagement (or any part thereof including, without limitation, conclusions of value and our identity), to any third parties. Stated again for clarification, unless our prior written consent is obtained, no third party may rely on the appraisal report (even if their reliance was foreseeable). 26. The conclusions of this report are estimates based on known current trends and reasonably foreseeable future occurrences. These estimates are based partly on property information, data obtained in public records, interviews, existing trends, buyer- seller decision criteria in the current market, and research conducted by third parties, and such data are not always completely reliable. The Integra Parties are not responsible for these and other future occurrences that could not have reasonably been foreseen on the effective date of this assignment. Furthermore, it is inevitable that some assumptions will not materialize and that unanticipated events may occur that will likely affect actual performance. While we are of the opinion that our findings are reasonable based on current market conditions, we do not represent that these estimates will actually be achieved, as they are subject to considerable risk and uncertainty. Moreover, we assume competent and effective management and marketing for the duration of the projected holding period of this property. 27, All prospective value opinions presented in this report are estimates and forecasts which are prospective in nature and are subject to considerable risk and uncertainty. In addition to the contingencies noted in the preceding paragraph, several events may occur that could substantially alter the outcome of our estimates such as, but not limited to changes in the economy, interest rates, and capitalization rates, behavior of consumers, investors and lenders, fire and other physical destruction, changes in title or conveyances of easements and deed restrictions, etc. It is assumed that conditions reasonably foreseeable at the present time are consistent or similar with the future. 28. The appraisal is also subject to the following: 137 West Martin Luther King Jr. Boulevard 1 Assumptions and Limiting Conditions 40 Extraordinary Assumptions and Hypothetical Conditions The va I ue conclusions are subiect to the fol Iowi ng extraordinary assumptions that may affect the assignment results. An extraordinary assumption is uncertain information accepted as fact. If the assumption is found to be false as of the effective date of the appraisal, we reserve the right to modify our value concl usions. N /A- None. The value conclusions are based on the following hypothetical conditions that may affect the assignment results.A hypothetical condition is a condition contrary to known fact on the effective date of the appraisal but is supposed for the purpose of analysis. N /A- None. 137 West Martin Luther King Jr. Boulevard I . Addenda Addendum A Appraiser Qualifications 137 West Martin Luther King Jr. Boulevard I ®rr Harry C. Newstreet, MAI Integra Realty Resources Experience Mr. Newstreet takes pride in his recognition for prompt preparation and timely delivery of well - documented appraisals. His commitment to excellence ensures in his clients the confidence 819 S. Federal Highway, Suite 201 that their unique requirements will be handled in an expeditious, professional and accurate manner. Stuart, FL 34994 Mr. Newstreet can perform a wide variety of real estate services that cover the entire spectrum of T 772.463.4131 the real estate appraisal field including property appraisal, acquisition, feasibility, development and F 772.463.4097 counseling, as well as in specialized areas such as expert witness testimony in condemnation for irr.com rigid -of -way, valuation, tax problems, professional standards and other real estate matters. Mr. Newstreet has testified in a wide variety of real estate matters and has been qualified as an expert witness in bath state and federal courts. Mr. Newstreet has completed both form and narrative appraisals of nearly every variety of residential and commercial property. 1993 - 1994 — Pederson & Trask • 1995 - Rex Consulting • 1996 -1998 — Real Property Analysts, Inc. • 1998 - 2004 — Newstreet - Miller & Associates • 2005 - 2011— Harry C. Newstreet & Associates • 2011 - Present — Integra Realty Resources- Miami /Palm Beach P rofessional i es & Affili Member: MAI, Appraisal Institute #12441 Member: Association of Eminent Domain Professionals L Florida, State Certified General, RZ2278 Education Florida State University — Bachelor of Science, December 1989 Numerous appraisal related seminars and classes Certified by the Appraisal Institute for Continuing Education Instructor: • Former Adjunct Professor: Florida Atlantic University, College of Business, Real Estate Section Lecturer: • The Development Timeline -- SFWMD Seminar, May 2004 • Appraisal Issues in CRA's — FAR Convention, September 2004 Art icles I Smoothing Wrinkles in the Spread: Special Assessment Issues, Appraisal Journal, April 2000 Qualif 1 Bodi Qualified as an Expert Witness in Federal and State Courts A i t hnew street@irr.com - 772.4 3.4131 x211�� i �r r + r E rK� 14 �.. rq PA 6 '0 beep r� (d P. r 44 ; i d i P 4 qp 0 40 F4 41 4 m 80 ibi i# t I M s m 9 04 :c I°# ul,w E® 4J •may go fir AQ P. #-A 01 V i Integra Realty Resources, Corporate Profile Integra Realty Resources, Inc. offers the most comprehensive property valuation and counseling coverage in the United States with 62 independently owned and operated offices in 34 states and the Caribbean. Integra was created for the purpose of combining the intimate knowledge of well- established local firms with the powerful resources and capabilities of a national company. Integra offers integrated technology, national data and information systems, as well as standardized valuation models and report formats for ease of client review and analysis. Integra's local offices have an average of 25 years of service in the local market, and virtually all are headed by a Senior Managing Director who is an MAI member of the Appraisal Institute. A listing of 1RR's local offices and their Senior Managing Directors follows: ATLANTA, GA -Sherry L. Watkins., MAI, FRICS M1AM1 1PALM BEACH, FL- Anthony M. Graziano, MAI, CRE, FRICS AUSTIN, TX - Randy A. Williams, MAI, SR/WA, FRICS MINNEAPOLIS, MN - Michael F. Amundson, MAI, CCIM, FRICS BALTIMORE, MD - G. Edward Kerr, MAI, MRICS NAPLES, FL - Carlton J. Lloyd, MAI, FRICS BIRMINGHAM, AL - Rusty Rich, MAI, MRICS NASHVILLE, IN - R. Paul Perutelll, MAI, SRA, FRICS BOISE, ID - Bradford T. Knipe, MAI, ARA, CCIM, CRE, FRICS NEW JERSEY COASTAL - HolvorJ. Egeland, MAI BOSTON, MA - David L. Cary, Jr., MAI, MRICS NEW JERSEY NORTHERN - Barry J. Krauser, MAI, CRE, FRICS CHARLESTON, SC - Cleveland Bud" Wright Jr., MAI NEW YORK, NY - Raymond T. Cirz, MAI, CRE, FRICS CHARLOTTE, NC - Fitzhugh L. Stout MAI, CRE, FRICS ORANGE COUNTY, CA - Larry 0. Webb, MAI, FRICS CHICAGO, 11- Eric L. Enloe, MAI, FRICS ORLANDO, FL - Christopher Starkey, MAI MRICS CINCINNATI, OH - Gary S. Wright MAI, FRICS, SRA PHILADELPHIA, PA -Joseph 0. Pasquarella, MAI, CRE, FRICS CLEVELAND, OH - Douglas A Sloan, MAI PHOENIX, AZ - Walter Tres' Winius III, MAI, FRICS COLUMBIA, SC- Michael B. Dodds, MAI, CCIM PITTSBURGH, PA- Paul D. Griffith, MAI, CRE, FRICS COLUMBUS, OH - Bruce A. Doubner, MAI, FRICS PORTLAND, OR - Brian A. Glanville, MAI, CRE, FRICS DALLAS, TX - Mark R. Lamb, MAI, CPA, FRICS PROVIDENCE, RI - Gerard H. McDonough, MAI, FRICS DAYTON, OH - Gary S. Wright MAI, FRICS, SRA RALEIGH, NC - Chris R. Morris, MAI, FRICS DENVER, CO -Brad A. Weimon, MAI, FRICS RICHMOND, VA - Kenneth L. Brown, MAI, CCIM, FRICS DETROIT, Ml - Anthony Sanno, MAI, CRE, FRICS SACRAMENTO, CA -Scott Beebe, MAI, FRICS FORT WORTH, TX - Gregory B. Cook, SR/WA ST. LOUIS, MO - A Ryan McDonald, MAI, FRICS GREENSBORO, NC- Nancy Tritt, MAI, SRA, FRICS SALT LAKE CITY, UT- Darrin W. Liddell, MAI, CCIM, FRICS GREENVILLE, SC - Michael B. Dodds, MAI, CCIM SAN ANTONIO, TX - Marlyn C. Glen, MAI, CRE, FRICS HARTFORD, CT -Mark F. Bates, MAI, CRE, FRICS SAN DIEGO, CA - Jeff A. Greenwald, MAI, SRA, FRICS HOUSTON, TX -David R. Dominy, MAI, CRE, FRICS SAN FRANCISCO, CA - Jon Kleczewski, MAI, FRICS INDIANAPOLIS, IN - Michael C. Lady, MAI, SRA, CCIM, FRICS SARASOTA, FL - Carlton J. Lloyd, MAI, FRICS JACKSON, MS- J. Walter Allen, MAI, FRICS SAVANNAH, GA - J. Carl Schultz, Jr., MAI, FRICS, CRE, SRA JACKSONVILLE, FL - Robert Crenshaw, MAI, FRICS SEATTLE, WA - Allen N. Safer, MAI, MRICS KANSAS CITY, MO /KS - Kenneth loggers, MAI, FRICS SYRACUSE, NY- William J. Kimball, MAI, FRICS LAS VEGAS, NV - Charles E. Jack IV, MAI TAMPA, FL - Bradford L. Johnson, MAI, MRICS LDS ANGELES, CA -John G. Ellis, MAI, CRE, FRICS TULSA, OK - Robert E. Gray, MAI, FRICS LOS ANGELES, CA - MatthewJ. Swanson, MAI WASHINGTON, DC- Patrick G Kerr, MAI, SRA, FRICS LOUISVILLE, KY- Stacey Nicholas, MAI, MRICS WILMINGTON, DE- Douglas L. Nickel, MAI, FRICS MEMPHIS, TN - J. Walter Allen, MAI, FRICS CARIBBEAN /CAYMAN ISLANDS -James Andrews, MAI, FRICS MIAMI /PALM BEACH, FL - Scott M. Powell, MAI, FRICS Corporate Office 1133 Avenue of the Americas, 27th Floor, New York, New York 10036 Telephone: (212) 255 -7858; Fax: (646) 424 -1869; E -mail info @irr.com Website: www.irr.com Addenda Comparison Addendum B 137 West Martin Luther King Jr. Boulevard ®rr O £ 2 0 O rL CL J t 0 t J 0 0 M2 J )I \ o C m § m a q q \ 2 < ILU � E C £ < 2 CL w CL m § m o 1-4 4L [ / / Un u N $ / (A Cc m § 0 � $ E 2 _ k � t f m E G 2 q 0 CL L. 2 ~ 0 k ƒ u tn Q 76 U) E t t t 0 0 o E c CL CL CL CL 2 J 2 J L ± L f � � � .! � g CL CL [ k L a < < L ƒ > CU L. 2 0 U. t CL i le J ƒ m 0 0 « a E in 0 r k \ A 0 < @ 3 2 e 7 $ lam= CL CL 4 2 '\ u a ƒ Addenda USPAP Reporting Options The 2014 -2015 edition of USPAP requires that all written appraisal reports be prepared under one of the following options: Appraisal Report or Restricted Appraisal Report. An Appraisal Report summarizes the information analyzed, the appraisal methods employed, and the reasoning that supports the analyses, opinions, and conclusions. The requirements for an Appraisal Report are set forth in Standards Rule 2 -2 (a) of USPAP. A Restricted Appraisal Report states the appraisal methods employed and the conclusions reached but is not required to include the data and reasoning that supports the analyses, opinions, and conclusions. Because the supporting information may not be included, the use of the report is restricted to the client, and further, the appraiser must maintain a work file that contains sufficient information for the appraiser to produce an Appraisal Report if required. The requirements for a Restricted Appraisal Report are set forth in Standards Rule 2 -2 (b). Integra Reporting Formats under the Appraisal Report Option USPAP gives appraisers the flexibility to vary the level of information in an Appraisal Report depending on the intended use and intended users of the appraisal. Accordingly, Integra Realty Resources has established internal standards for three alternative reporting formats that differ in depth and detail yet comply with the USPAP requirements for an Appraisal Report. The three Integra formats are: • Appraisal Report — Comprehensive Format • Appraisal Report — Standard Format • Appraisal Report — Concise Summary Format An Appraisal Report — Comprehensive Format has the greatest depth and detail of the three report types. It describes and explains the information analyzed, the appraisal methods employed, and the reasoning that supports the analyses, opinions, and conclusions. This format meets or exceeds the former Self- Contained Appraisal Report requirements that were contained in the 2012 -2013 edition of USPAP. An Appraisal Report — Standard Format has a moderate level of detail. It summarizes the information analyzed, the appraisal methods employed, and the reasoning that supports the analyses, opinions, and conclusions. This format meets or exceeds the former Summary Appraisal Report requirements that were contained in the 2012 -2013 edition of USPAP. An Appraisal Report - Concise Summary Format has less depth and detail than the Appraisal Report — Standard Format. It briefly summarizes the data, reasoning, and analyses used in the appraisal process while additional supporting documentation is retained in the work file. This format meets the minimum requirements of the former Summary Appraisal Report that were contained in the 2012- 2013 edition of USPAP. On occasion, clients will request, and Integra will agree to provide, a report that is labeled a Self - Contained Appraisal Report. Other than the label, there is no difference between a Self- Contained Appraisal Report and an Appraisal Report - Comprehensive Format. Both types of reports meet or 137 West Martin Luther King Jr. Boulevard ®rr Addenda exceed the former Self - Contained Appraisal Report requirements set forth in the 2012 -2013 edition of USPAP. Integra Reporting Format under Restricted Appraisal Report Option Integra provides a Restricted Appraisal Report format under the USPAP Restricted Appraisal Report option. This format meets the requirements of the former Restricted Use Appraisal Report that were contained in the 2012 -2013 edition of USPAP, 137 West Martin Luther King Jr. Boulevard 01" Addenda Information Addendum C Property 137 West Martin Luther King Jr. Boulevard ®r Addenda 4f232014 �,a.c tY AS S# tgt?i tr@r RIO d.as eel- X1529 t :rch9 sA G a l I 9 . 9ti t t5 Cctunt?7 !�Y /NUrI)i lr Lt7c ation Addgess 137 W MARTIN LUTHER KINGJR BLVD Municipality BOYNTON BEACH Parcel Control Flur er 08.4345.21- 25.001 -0220 Subdivisiam WEBER FRANK ADD TO BOYNTON IN Official Records Sooii 08847 Rag,, 1529 Sale Date JUN 1994 Legal Description FRANK WEBER ADD LT 22 BLK 1 Mailing address Owners rl °12F'ATRIC:K BRIAN] P0 BOX 52 BOYNION €BIAC H €L ,3425 0524 Sams Dun price OR Boak"FaVe Sale Type C JUN 1994 5100 OBB47 / 1 529 C (W, CLAIM MAY 1 e194 =1 3,C90 0827 1 1 OSS GUARDIAN DE"I' D No Exemption Information Available. Nurmer of Units 1 To tai Square `eet 1408 Az res 0.1601 Use Caok 2100 SINGLE FAMILY �Ionin9 R2 - Duplex (08-BOYNTON BEACH) Tai: Yam? 2013 2012 2011 lvtenrovemew Valu 529,458 526,933 533.148 Land Value $7.800 $6,000 525,926 Total Market Value $37,258 $32,933 559,074 All values are as of January Ist each year Tax Vear 2013 2012 2011 Amsted Value X36,226 532,933 559,074 Exemption Arr"n SO ;0 50 Taxable vmme 536,226 532,933 559,074 Tax Year 2013 2012 201 Ad Valorem 5830 $747 51,342 Non Ad Valorem 5262 $262 $262 Iola I tau $1,092 51,009 $1,604 httplr vw ncvru aLz IPr rry6etm;pr t9O 'aspPpw cel® 0843452125WIO22OUrcht ifi 137 West Martin Luther King Jr. Boulevard I Addenda COUNT OF PALM BEACH: NOTICE OF AD VALOREM T ASSESSMENT PROPERTYGONTROLNOL YEAR C B COLLECTOR NO. I I IS AI 0843- 45 -21 -25 -001 -0220 2013 98 101356030 FRANK WEBER ADD LT 22 ELK 1 R3 -753 FITZPATRICK BRIAN J PO BOX 524 + ANNE M. GANNON BOYNTON BEACH FL 33425.0524 t : _ CONSTIFUTIONA& TAX COLLECTOR Suring Palm Beano 1 owsty www.pbeax.com L ESTATE PROPERTY TAX HILL READ REVERSESIDE BEFORE CALLAG AD VALO TAXES READ RMSE SIDE BEMECALLIN B TAXING AUTHORITY TELEPHONE ASSESSED EXEMPTION TAXABLE VILLAGE TAX AMOUNT COUNTY 561- 355 -39DB 36,226 36,226 47815 173.21 COUNTY DEBT 56 1 -355-3m 36,226 36,226 0.2037 7.38 CITY OF BOYNTON BEACH 561- 742 -6310 36,226 36226 7,9900 266 19 CFIILDRENS SERVICES COUNCIL 561 - 740.7000 36,226 31x.226 0.7025 25.45 F I N.D. 561-627-M 36,226 36,225 0.0345 125 PBC HEALTH CARE 04ST'RIOT 561-659-1270 36.226 36. 1.0800 38.12 SCHOOL. LOCAL 561-434-B837 37,258 37.259 2.4980 9307 SCHOOL STATE W-434-8837 3725@ 37,258 5-0800 189.57 SFWMD EVERGLADES CONST PROJECT E61 -3940 36,226 36.226 0.0587 2.13 SO FLA WATER MANAGEME NT DIST. 5641- 36,226 36,226 0.1665 6,10 SO FLA WATER MGMT - OKEE BASIN 561 -666 36,226 36226 0,1638 6.66 TOTAL AD VALOREM 630.13 RUB REVERSE SIDE BEFORE CALUNG NON»AD VALOREM ASSESSMENTS READ REMSESHIE BEFORE CALLING LEVYING AUTHORITY TELEPHONE RATE AMOUNT SOLID WASTE AUTHORITY 561.697.2700 174.00 174.06 BOYNTON FIRE RESCUE ASSESSMENT 561- 74?45310 88,00 88.00 TOTAL NON-AD VALOREM 262. TOTAL AD VALOREM AND NON-AD VALOREM COMBINED 1,092.13 AMOUNT EE WHEN RECEII'VED BY NOV 30,2013 DEC 31 19 JAN 31.201# FEE 22,20 14 CH 3L 2014 51,049.44 :1.059.36 51,070.2$ 51.041.20 $1,09213 E DELINQUENT 4% 345 1% NO DISCOUNT APRIL 1, 20 DETACH HERE "SEE REVERSE SIDE FOR INSTRUCTIONS AND INFORMATION ®* DETACH HERE COUNTY OF PALM I TAXES AND NON-AD VALOREM ASSESSMENTS PROFENTY CONTROL NO. YEAR CNIC COLLECTOR 90 0843-45-21-25-001-0220 20193 9 101356030 F1TZPATRICK BRIAN J PO BOX 524 BOYNTON BEACH F? 33425- 20131013560300001092138 LEGAL DESCRIPTION FRANK WEBER ADD LT 22 BLK 1 P.O. BOX 3353 MAKE PAYABLE TO: WEST PALM BEACH, FL 33402.3353 TAX COLLECTOR, PALM BEACH COUNW PAST YEABI51 TAX IS DEUNGUENT RECEIVED AXIOM DUE WHEN NOV 30.2013 n ' 18 JAN 31, 2014 FES 281,2014 MARCH 31, 2014 51,0044 $1,05936 51,070.28 S1,08% 20 S1.,092.13 TAXES 4% 3% 2% g NO DUOUNr APRIL 1, 2014 OW04/2013TBO1 RFPT13,906f2r!2ni3 2013 REAL ESTATE PROPERTY TAX BILL 137 West Martin Luther King Jr. Boulevard I Addenda Brim J. Fitzpatrick P.C. Bax 524 OR 84 Py 1529 DOROTHY K VILMi CLEW PS �OUNTY, FL id 524 C nten 3425 me=~ in Plat'RW:9, Page 3, as reWrded In the PdbUc P=Orft of palm Bew-h QY�Y, Flar4w amid lards situate, lying and b i I? B pr tte 109 Se 4 j. Tjtzpatrjc�, -2540 S4 11th Ct. or Augm 7, am 137 West Martin Luther King Jr. Boulevard ®r Addenda NAY-24-1994 M 94-182160 ORB 6274 F13 1055 Prepared by and return tot 1 1191101 MINIJ91111 IN oil Can M000,00 Doc 91.06 1520 10th Ave� No Smite F CLERK DF THE COURT - PS COUNTY, FL Lake Worth, FL 33460-2002 Property Control iOS-43-45-21-25-001-0220 GUARDIAN'S DZED TUX6 NUEN7URE, executad the day of May, 1994, by and d.t."n 1160 on W� Bell, Guardian o f en p 9 1 L Li th firat-"rty, whose address is l520 10th Avenue North, Suite F, La a VA*ih� FAsrida 33460-2002 and John F. Fitzpatrick and Brian J. patr ckfparty of the a can part, whose add ass is r marria4 pa bas TEXT th ' At party, Pu suant to the Order of the Palm Beach County Circul t In Re' The Guardianship of EAttle Linton, Came No 88-3637-6-4V dated May 17, 1994, and in consideration of the sum of Ton 1 10.00) Dollars and other good and valuable considerations I d paid, grants, bargains, sells, aliens, release&, conve i`� �a Conti a to the second party, and to their heirs and assigns �f'rever, certain roal property situate In Palm Beach County, Florida, more particularly described as follows: Lot 22, LOCH K WEBBER ADDITION To BOYNTON according to the atrecarded in Plat Book 9, page 3, as recorded in the PUO�4 Records of FaIM Beach County, Florida; said land 6�4ate, lying and being in Palm Beach County, Florida. BUDO'ECT To taxes for tffi�dur,-ant year and subsequent yaars SOB"C? TO restrictions, fvations, easements and covenants of record, it any, to the exte same are valid and enforceable, TOGETHCR with all and sing -4r 't 2"nements, hereditament and appurtenances belonging or in an ay appertaining to that real property. To have And to hold the Saba to L the accond party, and to their heirs and assigns, in fee sflgai'� iorever And the first party does covenant to and with the ;woiamd party, their heirs and assigns. that in all things proliminaTy"hus and in and about this sale and this conveyanc� the laws of'--tm'!Sta�te of Florida have been followed and compiled with in all reipA . Gas. IN WITNESS WHEREOF the first party has set his hand and seal on the day and year first above written. Garen L Poulin tepnen W ti than of the L Property Of Lottitb.Linton Doris 11� McDonald STATE Or FLORIDA COUNTY OF PALM BEACH The foregoing instrument was acknowledged before me this day of May, 1994 by Stephen W� Hall, an Guardian of the propart Lattic Linton who in personally known to he. Notary Pkiblic My commission expires: 4. INd 137 West Martin Luther King Jr. Boulevard ® Addenda Addendum D Engagement Letter 137 West Martin Luther King Jr. Boulevard ®r Addenda mo� °"=,p^m April 22, 2014 ma� utteruam Administrative Services Manager Boynton Beach cnA 710 North Federal Hi Boynton Beach, FILax"ms Re. City m"mon Reachom mr West Martin Luther King, Jr. Boulevard Appraisal Proposal Dear Ms. un,,uack: Thank y ou for the opportunity to submit the following propo The property bemp appraised /^mo"teuat 137 West Martin Luther King, Jr, Bou Boynton Beac Florida. Our n°pnwu fee for the ennraua/ m this property ,s $600� We have estimated that we can have this assignment completed m ap two weeks from your notice toproceed. The effective date u/the appraisal will ueasor the current date. The client will »p the City of Boynton Beach cnx and the intended use is for a potential acquisition. Accu,mn&, the appraisal report wi,|m, addressed ,othe Boynton Beach om and will '"nm'= with the unm`m Stan of m"/ew/w=� Apn=/w� Practice (uSPAPJ, the cvd* of Professional Ethics and Standards of Professional Appraisal Practice w The Ap*ra)m| Institute and applicable state appraisal reg The appra report shall be solely for the use and purposes described in this paragraph ~vlem°c provide our prior written consent. v* also agree mue bound u the swetxc terms as required uv Boynton Beach as detailed on the ,w/nw/nxpage. x this proposal /, acceptable, please authorize us tn proceed by executing this letc, agreement where noted below and returning one copj to the un Should you have an additional questions, please do not hesitate m contact me. Thank you for considering this firm for your appraisal needs. Sincerel ��[ �~��_°�_ . Harry cNmmtreet,wA^ State-Certified General neAwRZ2om mrectn,a,mxa,m Phone; 772-463-4131 smai/'m`e°stwe/(a/rr,co* Accepted! mmr. 137 West Martin Luther King Jr. Boulevard 10 Addenda irarl Public Records The Boynton Beath Community Redevelopment Agency is public agency subject to Chapter 119, Florida Statutes, The Contractor shall comply with Florida's Public Records Law. Specifically, the Contractor shall; 1, Keep and maintain public records that ordinarily and necessarily would be required by the CRA in order to perform the service; 2. Provide the public with access to such public records on the same terms and conditions that the CRA would provide the records and at a cost that does not exceed that provided in chapter 119, Fla. Stat., or as otherwise provided by law; a. Ensure that public records that are exempt or that are confidential and exempt from public record requirements are not disclosed except as authorized by law; and 4. Meet all requirements for retaining public records and transfer to the CRA, at no cost, 0 public records in possession of the contractor upon termination of the contract and destroy any duplicate public records that are exempt or confidential and exempt. All records stored electronically must be provided to the City in a format that is compatible with the information technology systems of the agency. The failure of Contractor to comply with the provisions set forth in this agreement/contract shall constitute a Default and Breach of this Agreement. If Contractor fails to cure the default within seven (7) day=' notice from the CRA, the CRA may terminate the Agreement. 137 West Martin Luther King Jr. Boulevard i r. PURCHASE AGREEMENT Page i of 14 PURCHASE AGREEMENT This Purchase Agreement (hereinafter "Agreement ") is made and entered into as of the Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, of the Florida Statutes (hereinafter "CRA ") and BRIAN J. FITZPATRICK, a married man (hereinafter "SELLER "). in consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree as follows: 1. PURCHASE AND SALE/PROPERTY SELLER agrees to sell and convey to CRA and CRA agrees to purchase and acquire from SELLER, on the terms and conditions hereinafter set forth, the Properties located in Palm Beach County, Florida (the "Properties ") and more particularly described as follows: PNC # 08- 43- 45 -21 -25 -001 -0220 Legal Description: Lot 22, Block 1, FRANK WEBER ADDITION TO BOYNTON, according to the Plat recorded in Plat Book 9, Page 3, as recorded in the Public Records of Palm Beach County, Florida. 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be One Hundred Twenty -Five Thousand and 001100 ($125,000.00) Dollars, payable in cash, by wire transfer of United States Dollars at the Closing. 3. DEPOSIT. 3.1 Earnest Money Deposit Within five (5) Business Days after the execution of the Purchase Agreement by both Purchaser and Seller CRA shall deliver to Lewis, Longman & Walker, PA ( "Escrow Agent ") a deposit in the amount of Twelve Thousand Five Hundred Dollars ($12,500.00) Dollars (the "Deposit "). 3.2 Application/Disbursement of Deposit. The Deposit shall be applied and disbursed as follows: The Deposit shall be delivered to SELLER at Closing and the CRA shall receive credit for such amount against the Purchase Price. If this Agreement is terminated during the Feasibility Period (hereinafter defined) for any reason, the Deposit shall be immediately refunded to the CRA. If this Agreement is terminated due to a default, pursuant to Section 12, the Deposit shall be delivered to (or retained by, as applicable) the non - defaulting Party, and the non - defaulting Party shall have such additional rights, if any, as are provided in Section 12. 3.3 - � scrow A ent. CRA and SELLER authorize Escrow Agent to receive, deposit and hold funds in escrow and, subject to clearance, disburse them upon proper Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page 2 of 14 authorization and in accordance with Florida law and the terms of this Agreement. The parties agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to CRA and SELLER, unless the misdelivery is due to Escrow Agent's willful breach of this Agreement or gross negligence. If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable attorney's fees and costs to be paid from the escrowed funds which are charged and awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so long as Escrow Agent consents to arbitrate. 4. EFFECTIVE DATE. The effective date of the Purchase Agreement is the date that the Escrow Agent receives the Escrow Deposit and Escrow Agent executes the Agreement. 5. CLOSING. The purchase and sale transaction contemplated herein shall close on or before. August 15, 2014, unless extended by other provisions of this Agreement or by written agreement, signed by both parties, extending the Closing. 6. TITLE TO BE CONVEYED At Closing, SELLER shall convey to CRA, by General Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined), valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions except only the following (collectively, the "Permitted Exceptions "): (a) general real estate taxes and special assessments for the year of Closing and subsequent years not yet due and payable; (b) covenants, conditions, easements, dedications, rights -of -way and matters of record included on the Title Commitment or shown on the Survey (defined in Section 7), to which CRA fails to object, or which CRA agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof. 7. FEASIBILITY PERIOD. The CRA, and its designees shall have up to thirty (30) days from the Effective Date of this Agreement ( "Feasibility Period "), at CRA's expense, to make inquiries to determine if the Property is suitable for its intended use and to enter upon the Property, at any time and from time to time with reasonable notice to SELLER and so long as said investigations do not result in a business interruption, to perform any and all physical tests, inspections, valuation appraisals and investigations of the Property, including but not limited to Phase I and Phase 11 investigations, which CRA may deem necessary. During this Feasibility Period, CRA may elect, in CRA's sole and absolute discretion, to terminate this contract and receive back all Deposits hereunder. If CRA elects to terminate this Agreement in accordance with this Section, CRA shall: (i) leave the Property in substantially the condition existing on the Effective Date, subject to such disturbance as was reasonably necessary or convenient in the testing and investigation of the Property; (ii) to the extent practicable, shall repair and restore any damage caused to the Property by CRA's testing and investigation; and (iii) release to SELLER, at no cost, all reports and other work generated as a result of the CRA's testing and investigation. CRA hereby agrees to indemnify and hold SELLER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to CRA (including, without limitation, any construction liens resulting therefrom) or for damage to persons or property (subject to the limitation on practicability provided above) arising out of CRA's investigation of the Property. However, CRA's indemnification obligations shall not exceed its statutory limits as provided within Section Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page 3 of 14 768.28, Florida Statutes, and CRA does not waive its sovereign immunity rights. SELLER hereby agrees to indemnify and hold CRA harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to SELLER or for damage to persons or property (subject to the limitation on practicability provided above) arising out of CRA's investigation of the Property. SELLERS' obligations under this Section shall survive the termination, expiration or Closing of this Agreement. 7.1 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 CRA, in CRA's sole and absolute discretion, shall have the option of (i) extending the Cure Period and the Closing for one additional thirty (30) day period, or (ii) accepting the Title to the Property as of the time of Closing or (iii) canceling and terminating this Agreement, in which case, the Deposit shall be returned to CRA and the Parties shall have no further obligations or liability hereunder, except for those expressly provided herein to survive termination of this Agreement. Prior to the Closing, CRA shall have the right to cause the Title Company to issue an updated Title Commitment ( "Title Update ") covering the Property. If any Title Update contains any conditions which did not appear in the Title Commitment, and such items render title unmarketable, CRA shall have the right to object to such new or different conditions in writing prior to Closing. All rights and objections of the Parties with respect to objections arising from the Title Update shall be the same as objections to items appearing in the Title Commitment, subject to the provisions of this Section. 7.2. 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 11100th of an acre. If the Survey discloses encroachments on the Property or that improvements located thereon encroach on setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement, or applicable governmental regulations, the same shall constitute a title defect and shall be governed by the provisions of Section 7.1 concerning title objections. Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page 4 of 14 7.3 SELLER L I S SELLER shall deliver to CRA the following documents and instruments within ten (10) days of the Effective Date of this Agreement, except as specifically indicated: 7.3.1 Copies of any reports or studies (including engineering, environmental, soil borings, and other physical inspection reports), in SELLER'S possession or control with respect to the physical condition or operation of the Property, if any. 7.3.2 Copies of all licenses, variances, waivers, permits (including but not limited to all surface water management permits, wetland resource permits, consumptive use permits and environmental resource permits), authorizations, and approvals required by law or by any governmental or private authority having jurisdiction over the Property, or any portion thereof (the "Governmental Approvals "), which are material to the use or operation of the Property, if any. 7.3.3 Prior to the Closing Date, SELLER shall execute and deliver to CRA any and all documents and instruments required by CRA, in CRA's sole and absolute discretion, which: (i) effectuate the transfer to CRA of those Governmental Approvals, or portions thereof which are applicable to the Property, that CRA desires to have assigned to it, and/or (ii) cause the Property to be withdrawn from any Governmental Approvals. No later than thirty (30) days prior to the Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the Governmental Approvals (including but not limited to any and all portions of the surface water management system, mitigation areas or other items which do not comply with the Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at the time of Closing, any unrecorded instruments affecting the title to the Property, including, but not limited to any conveyances, easements, licenses or leases. 8. CONDITIONS TO CLOSING. CRA shall not be obligated to close on the purchase of the Property unless each of the following conditions (collectively, the "Conditions to Closing ") are either fulfilled or waived by CRA in writing: 8.1. Re resentations and Warranties. All of the representations and warranties of SELLER contained in this Agreement shall be true and correct as of Closing. 8.2. Condition of Property. The physical condition of the Property shall be the same on the date of Closing as on the Effective Date, reasonable wear and tear excepted. 8.3. Pending Proceedings. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever, pending or threatened, which has not been disclosed, prior to closing, and accepted by CRA. 8.4. Compliance with Laws and Regulations. The Property shall be in compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of closing. 8.5. Occupancy. The property shall be conveyed to the CRA at time of closing unoccupied. The SELLER hereby warrants that there will be no tenants on the property at the time of the closing. Fitzpatrick— 137 MLK PURCHASE AGREEMENT Page 5 of 14 9. CLOSING DOCUMENTS. The CRA shall prepare, or cause to be prepared, the Closing Documents set forth in this Section, except for documents prepared by the 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: 9.1. Deed. A Warranty Deed (the "Deed ") conveying to CRA valid, good, marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances and other conditions of title other than the Permitted Exceptions. 9.2 Seller's Affidavits. SELLER shall furnish to CRA an owner's affidavit attesting that, to the best of its knowledge, no individual or entity has any claim against the Property under the applicable construction lien law; and that there are no parties in possession of the Property other than SELLER. SELLER shall also furnish to CRA a non - foreign affidavit with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced above, the same shall be deemed an uncured title objection. 9.3. Closing Statement. A closing statement setting forth the Purchase Price, the Deposit, all credits, adjustments and prorations between CRA and SELLER, all costs and expenses to be paid at Closing, and the net proceeds due SELLER, which CRA shall also execute and deliver at Closing. 9.4. Corrective Documents. Documentation required to clear title to the Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions. 9.5. Additional Documents. Such other documents as CRA or the Title Company may reasonably request that SELLER execute and deliver, and any other documents required by this Agreement or reasonably necessary in order to close this transaction and effectuate the terms of this Agreement. 10. PRORATIONS, CLOSING COSTS AND CLOSING R C U E. 10.1. Proration. 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. 10.2 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 the Closing, the actual amount of assessed real property tax on the Property for the current year is higher than any estimate of such tax used for purposes of the Closing, the parties shall re- prorate Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page 6 of 14 any amounts paid or credited based on such estimate as if paid in November. This shall survive the Closing. 10.3. Special Assessment Liens. Certified, confirmed and ratified special assessment liens imposed by public bodies as of Closing are to be paid by SELLER. Pending liens as of Closing shall be assumed by CRA. If the improvement has been substantially completed as of the Effective Date, any pending lien shall be considered certified, confirmed or ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or assessment for the improvement by the public body. 10.4. Closing Costs. CRA shall be responsible for all documentary stamps on the deed, recording the deed and half of all general closing expenses (settlement fee, courier fees, overnight package, etc.). SELLER is responsible for their own legal fees. All other costs of closing shall be borne by CRA. 10.5 Closing Procedure. CRA shall fund the Purchase Price subject to the credits, offsets and prorations set forth herein. SELLER and CRA (as applicable) shall execute and deliver to Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i) disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marked -up" Title Commitment to CRA, and promptly thereafter, record the Deed and other recordable Closing Documents in the appropriate public records. 10.6 Existing ortgages and Other Liens At Closing, SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments applicable to and encumbering the Property. 11. REPRESENTATIONS, COVENANTS AND WARRANTIES. Seller's Representations and Warranties. To induce CRA to enter into this Agreement, SELLER makes the following representations, all of which, to the best of its knowledge, in all material respects and except as otherwise provided in this Agreement (i) are now true, and (ii) shall be true as of the date of the Closing unless SELLER receives information to the contrary, and (iii) shall survive the Closing. In that event, CRA shall be provided immediate notice as to the change to the following representations: 11.1 At all times from the Effective Date until prior to Closing, SELLER shall keep the Property (whether before or after the date of Closing) free and clear of any mechanic's or materialmen's liens for work or materials furnished to or contracted for, by or on behalf of SELLER prior to the Closing, and SELLER shall indemnify, defend and hold CRA harmless from and against all expense and liability in connection therewith (including, without limitation, court costs and reasonable attorney's fees). 11.2 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 Property 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 Property or any part thereof or which would otherwise relate to the Land. Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page 7 of 14 11.3 SELLER has full power and authority to enter into this Agreement and to assume and perform its obligations hereunder 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 under, 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. 11.4 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. 11.5 SELLER represents that there are no parties other than SELLER in possession of the Property or any portion of the Property as a lessee. 11.6 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. 11.7 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. 11.8 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 to regulate materials and substances in the environment (collectively "Governmental Authority(ies) "). Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page S of I4 11.9 SELLER represents to CRA that the Land is not subject to any deed restrictions or declaration of restrictions running with the Land which would affect the use of the Land and all title matters to which SELLER's property is subject to is set forth on Exhibit 11.10 Between the date of this Agreement and the date of closing, SELLER will not file any application for a change of the present zoning classification of the Land. 11.11 Authority. The execution and delivery of this Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER in accordance with its terms. The person executing this Agreement on behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this Agreement represents a valid and binding obligation of SELLER. 11.12 Title. SELLER is and will be on the Closing Date, the owner of valid, good, marketable and insurable fee simple title to the Property, free and clear of all liens, encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances of record which will be discharged at Closing). 11.13 Additional Warranties and Representations of SELLER. As a material inducement to CRA entering into this Agreement, SELLER, to the best of SELLER'S information and belief, hereby represents and warrants the following: 11.13.1 There are no pending applications, permits, petitions, contracts, approvals, or other proceedings with any governmental or quasi - governmental authority, including but not limited to, CRA, municipalities, counties, districts, utilities, and/or federal or state agencies, concerning the use or operation of, or title to the Property or any portion thereof and SELLER has not granted or is not obligated to grant any interest in the Property to any of the foregoing entities. 11. 13.2 There are no facts believed by SELLER to be material to the use, condition and operation of the Property in the mariner that it has been used or operated, which it has not disclosed to CRA herein, including but not limited to unrecorded instruments or defects in the condition of the Property which will impair the use or operation of the Property in any manner. 11. 13.3 To the best of SELLER'S knowledge, the Property and the use and operation thereof are in compliance with all applicable county and governmental laws, ordinances, regulations, licenses, permits and authorizations, including, without limitation, applicable zoning and environmental laws and regulations. 12. DEFAULT. 12.1. CRA's Default. In the event that this transaction fails to close due to a wrongful refusal to close or default on the part of CRA, subject to the provisions of Paragraph 12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow Agent to SELLER as agreed liquidated damages and, thereafter, neither CRA nor SELLER shall have any further obligation or liabilities under this Agreement, except for those expressly provided to survive the termination of this Agreement; provided, however, that CRA shall also be responsible for the removal of any liens asserted against the Property by persons claiming by, Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page 9 of 14 through or under CRA, but not otherwise. CRA and SELLER acknowledge that if CRA defaults, SELLER will suffer damages in an amount which cannot be ascertained with reasonable certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent most closely approximates the amount necessary to compensate SELLER. CRA and SELLER agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture provision. 12.2. Seller's Default. In the event that SELLER shall fail to fully and timely perform any of its obligations or covenants hereunder or if any of SELLER'S representations are untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement, CRA may, at its option: (1) declare SELLER in default under this Agreement by notice delivered to SELLER, in which event CRA may terminate this Agreement and demand that the Deposit be returned, including all interest thereon if any, in accordance with Section 3 and neither Party shall have any further rights hereunder, or (2) seek specific performance of this Agreement, without waiving any action for damages. 12.3. Notice of Default. Prior to declaring a default and exercising the remedies described herein, the non - defaulting Party shall issue a notice of default to the defaulting Party describing the event or condition of default in sufficient detail to enable a reasonable person to determine the action necessary to cure the default. The defaulting Party shall have fifteen (15) days from delivery of the notice during which to cure the default, provided, however, that as to a failure to close, the cure period shall only be three (3) Business Days from the delivery of notice. Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld. If the default has not been cured within the aforesaid period, the non - defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions of this Section 12 shall survive the termination of this Agreement. 13. NOTICES. All notices required in this Agreement must be in writing and shall be considered delivered when received by certified mail, return receipt requested, or personal delivery to the following addresses: If to Seller: Name:—Brian J. Fitzpatrick Address: P. O. Box 524 City, State, Zip: Boynton Beach, FL 33425 -0524 Telephone: 561 -577 -0891 Email: brianjfltzpatrick @comcast.net If to Buyer: Vivian Brooks, Executive Director Boynton Beach Community Redevelopment Agency 710 N. Federal Highway Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page 10 of 14 Boynton Beach, FL 33435 With a copy to: Kenneth Spillias Lewis, Longman & Walker, PA CRA Attorney 515 North Flagler Drive Suite 1500 West Palm Beach, FL 33401 14. BINDING OBLIGATION /ASSIGNMENT. The terms and conditions of this Agreement are hereby made binding on, and shall inure to the benefit of, the successors and permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement without the prior written consent of CRA, which shall not be unreasonably withheld. CRA shall have the right to assign this Agreement to the City of Boynton Beach (the "City ") without the prior consent of SELLER and the CRA shall be released from any further obligations and liabilities under this Agreement. The CRA may not assign this Agreement to any other party without the prior written approval of SELLER, which shall not unreasonably withheld. If CRA has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are in effect, the provisions of section 163.357(1), Florida Statutes, (as it may be amended from time to time), shall apply. . 15. BROKER FEES The SELLER and BUYER hereby state that they have not dealt with a real estate broker in connection with the transaction contemplated by this Agreement and are not liable for a sales commission. SELLER shall indemnify, defend and hold harmless the CRA from and against any and all claims, losses, damages, costs or expenses (including, without limitation, attorney's fees) of any kind or character arising out of or resulting from any agreement, arrangement or understanding alleged to have been made by SELLER on its behalf with any broker or finder in connection with this Agreement. The provisions of this Section shall survive Closing or termination of this Agreement. 16. ENVIRONMENTAL CONDITIONS. 16.1. For purposes of this Agreement, pollutant ( "Pollutant ") shall mean any hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant, petroleum, petroleum product or petroleum by- product as defined or regulated by environmental laws. Disposal ( "Disposal ") shall mean the release, storage, use, handling, discharge, or disposal of such Pollutants. Environmental laws ( "Environmental Laws ") shall mean any applicable federal, state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions. 16.1.1 As a material inducement to CRA entering into this Agreement, SELLER hereby warrants and represents the following, as applicable: (1) That SELLER and occupants of the Property have obtained and are in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or contiguous property owned by SELLER, to the best of SELLER'S knowledge. Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page I I of 14 (2) SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the Property. SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices on contiguous property that is owned by SELLER which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant affecting the SELLER'S property. (3) There is no civil, criminal or administrative action, suit, claim, demand, investigation or notice of violation pending or, to the best of that entity's knowledge, threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the Property, any portion thereof, or on any contiguous property owned by SELLER. 17. PUBLIC RECORDS. CRA is a public agency subject to Chapter 119, Florida Statutes. The SELLER is hereby notified that the PURCHASER is required by law, pursuant to Chapter 119, to maintain and disclose upon request all records deemed public under the statute including this Agreement and some or all of the documents necessary to consummate the transaction set forth herein. To the extent that any litigation should be instituted by SELLER, either directly or as a third party, to prevent or prohibit PURCHASER from disclosing or providing documents involving this Agreement or the transaction set forth in the Agreement pursuant to a public records request submitted under Chapter 119, SELLER agrees that PURCHASER may either: 1) defend the claim up to and including final judgment, or 2) interplead the challenged documents into the court. In either event, SELLER agrees to pay PURCHASER'S reasonable attorneys' fees and costs, both trial and appellate. 18. MISCELLANEOUS. 18.1. General. This Agreement, and any amendment hereto, maybe 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 the 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 of Florida. 18.2. Computation of Time. Any reference herein to time periods which are not measured in Business Days and which are less than six (6) days, shall exclude Saturdays, Sundays and legal holidays in the computation thereof. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. on the Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page 12 of ] 4 next full Business Day. "1`ime is of the essence in the performance of all obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the calculation thereof. 18.3. Waiver. Neither the failure of a party to insist upon a strict performance of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance of any item by a party with knowledge of a breach of this Agreement by the other party in the performance of their respective obligations hereunder, shall be deemed a waiver of any rights or remedies that a party may have or a waiver of any subsequent breach or default in any of such terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination of this Agreement and the Closing. 18.4. Construction of Agreement. The Parties to this Agreement, through counsel, have participated freely in the negotiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the Parties. As used in this Agreement, or any amendment hereto, the masculine shall include the feminine, the singular shall include the plural, and the plural shall include the singular, as the context may require. Provisions of this Agreement that expressly provide that they survive the Closing shall not merge into the Deed. 18.5. Severability. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The provisions of this Section shall apply to any amendment of this Agreement. 18.6 Handwritten Provisions Handwritten provisions inserted in this Agreement and initialed by CRA and SELLER shall control all printed provisions in conflict therewith. 18.7 Waiver of Jury As an inducement to CRA agreeing to enter into this Agreement, CRA and SELLER hereby waive trial by jury in any action or proceeding brought by either party against the other party pertaining to any matter whatsoever arising out of or in any way connected with this Agreement. 18.8. Attorneys Fees and Costs Should it be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable attorneys' fees and costs, including those at the appellate level, shall be awarded to the prevailing party. 18.9 Binding Authority Each party hereby represents and warrants to the other that each person executing this Agreement on behalf of the CRA and SELLER has full right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 18.10 Recording This Agreement may be recorded in the Public Records of Palm Beach County, Florida. Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page 13 of 14 18.11 Survival The covenants, warranties, representations, indemnities and undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and recording of the SELLER'S Property Deed and CRA's possession of the Property. 18.12 SELLER Attorneys' Fees and Costs SELLER acknowledges and agrees that SELLER shall be responsible for its own attorneys' fees and all costs, if any, incurred by SELLER in connection with the transaction contemplated by this Agreement. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective date. Fitzpatrick — 137 MLK PURCHASE AGREEMENT Page 14 of 14 BOYNTON BEACH COMMUNITY REDEVELOPMENT LI -�R AGENCY By: Print Name: Jerry Taylor print : ne: Brie J. F Zpat iek Title: Chair Date: Date: Witnesses: _..__.._ _ .............................. Witnesses: { Witnesses: _ Witnesses: SELLER Print Name: Date: Witnesses: Witnesses: ESCROW AGENT Lewis, Longman & Walker, PA By= Print Name: Fitzpatrick — 137 MLK I f sb 4 L f k � 11 H , RA CRA BOARD MEETING OF: June 10, 2014 { I Consent Agenda { { Old Business I New Business { J Legal J J Executive Director' s SUBJECT: Consideration of Purchase Agreement between Rosebud House, LLC and the CRA for the Property Located at 121 NE 4th Avenue. SUMMARY Rosebud House, LLC is the owner of 121 NE 4th Avenue. This property is of interest to the CRA due to their location. This particular property is in proximity to properties already owned by the CRA and their importance to assemblage for future single- family development to be known as "The Cottage District ". See attached map for property location. An appraisal on the property was obtained on April 15, 2014 and is attached. Based on the appraisal and discussions with the owner of the property, the CRA has made an offer of $155,000 for the property. See attached Purchase Agreement. FISCAL IMPACT: $155,000 Budget Line Item #02 -58200 -401 CRA PLAN, P OR PROJECT: Heart of Boynton Community Redevelopment Plan COMMENDATIONS /OPTIONS: Approve the Purchase Agreement with Rosebud House, LLC for the property located at 121 NE 4th Avenue in the amount of $155,000. Vi an L. Brooks Executive Director �� 1 I ' '� Illllf'• I �' �� , 6° i r y ., t� x t {?� t � I 1 t t{��i { � `IN�y„ s { ! r f + y St t { � M t ......... hilt+ d 10�' �i�t'p titi i }�`�` r I Si �£n st t { I �m'brl) " ti tti *�i ! A � 1 KC ` ' ` �� ; 1 - -i y s 1` C �. S £ tr , s S t , _ i z 1trltsG�i t�W� €�ti 4'ivi'itilrPt �F't� t - h t N st t s s X, On t � d/1 i s �ws X111 ",� lit, WAR— z 6 �i r u � t 't r r�i . - � { � v t 4t — �1 ; 1�1 � s1 errs ss1, I i Li \r T n p�4s i�, ' , ? ? f NF f� ipr r a � wo- jra w �" , I l k I t s ��•' t� ` ,fir_ _ �; �_ sr ; ,,, . rwAl NO M MIX: Search Search Results Detail` I n, View P r o p z rt y Perri Owners ROSEBUD HOUSE LLC Ilia "Ave Property detail I- Ocation 121 NE 4TH AVE Municipality BOYNTON BEACH Parcel No. 08434521290030041 s „ SHEPARD ADD TO TOWN OF Subdivision BOYNTON IN Book 25330 Page 141 Sale Date JUN-2012 < <u 8895 N MILITARY TRL STE NU �t# Mailing 301B Address WEST PALM BCH FL 33410 6239 u��, , 11 4 ` 0800 - MULTIFAMILY < 10 [ Use Type - UNITS Total I r Square Feet 1891 a a El 4 Tools!,!' ' ",' Layers ,k F it '.I I Print�,�S�r p -: p essaes ' d ',, _ j�, � � a Instructional Videos Ire 5 - Sly I All i, E. t , I /� V .l - t i p knit, 4 P too" w } , Pet Old INA CO E a a Mlk a J rat oil x i #' �� y , 1 k, U ". � 41 s � t, 4v } APPRAISAL OF REAL PROPERTY LOCATED AT. 121 NE 4TH AVENUE W 75 FT OF LT 41LESS N 140 FT /BLK 3, SHEPARD ADD, PB 2 PG 59 BOYNTON BEACH, FL 33435 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY 710 N. FEDERAL HIGHWAY BOYNTON BEACH, FL 33435 AS OF: 04/15/2014 MICHAEL W. BRU BECK Cer# Res RD6862 AUCAMP, DELLFN13ACK& WHITNEY APPRAISERS & CONSULTANTS 3998 FAU BLVD SUITE 300 BOCA RATON, FLORIDA 33431 561- 998 -9326 Farm GA5 — "Win70TAL" appraisal software by a la made, !no. —1- BOG - ALAMODE Aucamp, Dellenback & Whitney Min File 4 - RESIDENTIAL APPRAISAL REPORT Flt- No.: 14 -0452 Prop Address: 121 NE 4TH AVENUE Cl BOYNTON BEACH State: FL Zip Code: 33435 H County: PALM BEACH Legal Description: W 75 FT OF LT 41LESS N 140 FTIBLK 3, SHEPARD ADD PB 2 PG 59 V Assessors Parcel #: 08 43A5 - 21 - 29-103 - 0041 � Tax Year: 2013 R.E. Taxes: $ 2,122 Special Assessments: $ NIA Borrower if applicable): NrA = Current Owner of Record: ROSEBUD HOLDINGS LLC Occup ant: ! Owner E Tenant 1 Vacant Manufactured Housin Project Type: Lj PUD E Condominium Cooperative E Other describe HOA: $ N1A p er year Ej per month Market Area Name: SHEPARD ADD Map Reference: 43 - 45 - 21 Census Tract: 61.00 The purpose of this ap raisal is to develop an opinion of: M Market Value as defined), or Lj other type of value describe This rep ort reflects the following valued not Current, see comments): ® Current the Insp ection Date is the Effective Date ❑ Retrospective ❑ Prospective i Approaches developed for this appraisal: ® Sales Comparison Approach ❑ Cost Approach ® Income Approach See Reconciliation Comments and Scope of Work Lu Property Rights Appraised: (X Fee Simple ❑ Leasehoid L' Leased Fee Other describe C9 Intended Use: THIS REPORT IS INTENDED TO GIVE THE FAIR MARKET VALUE OF THE SUBJECT PROPERTY, AS OF THE EFFECTIVE- DATE, TO V5 ASSIST THE CLIENT IN MAKING AN INFORMED BUYING DECISION. a Intended Users (by name or e : BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY CIIeM: BOYNTON BEACH CRA Address: 71 D N. FEDERAL HIGHWAY, BOYNTON BEACH FL 33435 Appraiser: MICHAEL W. BRUBECK Cert Res RD 6662 Address: 3998 FAU BOULEVARD, #300, BOCA RATON, FL 33431 Location: Lj Urban N Suburban Rural predominant One -Unit Housing Present Land Use Change in Land Use Built up: r;l Over 75% ❑ 25-75% ❑ Under 25% Occupancy PRICE AGE One -Unit 65 % 'X Not Likely o Growth rate: El Rapid ] Stable ®Stow �k Owner $ {000) (yrs) 2 4 Unit 1096 ❑ Likely * L] In Process t= Property values: ❑ Increasing A Stable ❑ Declining ❑ Tenant 30 Low 1 Mulli-Unit 5% * To: OL Demand /supply: ❑ Shortage IZ In Balance ❑ Over Supply Vacant (0 -5 %) 20o High 75 Comm'I 10% Marketing time: ❑Under 3 Mos. Z 3 6 Mos. Over 6 Mos. ❑ Vacant �5% 75 Prod 45 VACANT 10 % n Market Area Boundaries, Description, and Market Conditions (including support for the abeve characteristics and trends): THE SUBJECT LIES NORTH OF Q BOYNTON BEACH BLVD EAST OF INTERSTATE 95 SOUTH OF GATEWAY BLVD AND WEST OF FEDERAL HIGHWAY. K THE SUBJECT COMMUNITY IS A WELL ESTABLISHED NEIGHBORHOOD OF SINGLE FAMILY HOMES APARTMENT BUILDINGS AND SMALL INCOME PROPERTIES. LOCAL SHOPPING, SCHOOLS, RECREATIONAL AND PROFESSIONAL FACILITIES ARE ALL LOCATED WITHIN A CONVENIENT DISTANCE. ACCESS TO THE PUBLIC TRANSPORTATION AND INTERSTATE 95 IS NEARBY. 9 MARKET VALUES HAVE REMAINED RELATIVELY STABLE IN THE PAST YEAR. THIS FOLLOWS A PERIOD OF INCREASING VALUES IN LATE 2012 AND EARLY 2013. SHORT SALES AND BANK OWNED PROPERTIES REMAIN IN THE MARKET AREA, ALTHOUGH THE PERCENTAGE OF DISTRESSED PROPERTIES HAS DECREASED IN THE PAST 12 MONTHS. Dimensions: 75'X 159' Site Area: 12,009 SF Zoning Classification: R2 Description: RESIDENTIAL - DUPLEX Zoning Compliance: iZ Legal L Legal nonconformin randfathered ❑ Illegal ❑ No zonin Are CG &Rs applicable? ❑ Yes ❑ No Z Unknown Have the documents been reviewed? Lj Yes ® No Ground Rena if applicable) $ wAl Highest & Best Use as Improved: Bi Present use or C Other use (explain) THE CURRENT USE OF THE PROPERTY IS THE HIGHEST AND BEST USE Actual Use as of Effective Date: RESIDENTIAL DWELLING Use as appraised in this report: RESIDENTIAL DWELLING Z Summary of Highest & Best Use: THE CURRENT USE OF THE PROPERTY IS THE HIGHEST AND BEST USE O 0. Utilities Public Other ProviderlDescriptlon Off shelmprovements Type Public Private Topography GENERALLY LEVEL W Electricity FPL Street ASPHALT ® C' Size TYPICAL FOR AREA n Gas Fi ] FLORIDA UTL. CurblGutter NONE ❑ ❑ Shape RECTANGULAR ui Water ❑ MUNICIPAL Sidewalk NONE ❑ ❑ Drainage AP PEARS ADEQUATE Sanitary Sewer MUNICIPAL Street Lights ELECTRIC I- i View RESIDENTIAL Storm Sewer ❑ MUNICIPAL Ail NONE Other site elements: ❑ Inside Lot E Corner Lot ' j Cul de Sac [ J Under round Utilities ❑Cher describe FFMA $ ec'1 Flood Hazard Area ❑ Yes N No FEMA Flood Zone C FFMA Mp # 120196 0004C FEMA Map Date 9/30/1982 Site Comments: EASEMENTS OF RECORD. NO ADVERSE CONDITIONS OR ENCROACHMENTS NOTED VIA INSPECTION OF THE SUBJECT PROPERTY. ZONING PER CITY OF BOYNTON BEACH. General Description Exterior Description Foundation Basement M None Heating # of Units 1 ® Ace.Untt Foundation CONCRETE Slab CONIC. Area Sq. F1. NONE Type FWA # of Slories ONE Exterior Walls FRAMEICBS Crawl Space YES % Finished NIA Fuel ELEC. Type X Det. ❑ Aft. ❑ Roof Surface COMPOSITE Basement NONE Ceiling Design (Style) DUPLEX Gutters & Dwnspts. ALUMINUM Sump Pump ❑ NIA Walls Cooling X Existing ❑ Proposed ❑ Und.Cons. Window Type ALUMINUM Dampness 7 1UNK Floor Central WIWWALL F Actual Age (Yrs.) 62 YRS Storm/Screens YES Settlement LINK Outside Entry Other CENTRAL Z µ � Effective Age rs. 25 YRS Infestation UNK Se InterlorDescription Appliances Attic [ ]None Amenities Car Storage ;❑ None . Floors WD.LAMITILE Refrigerator 'N Stairs L Fireplace(s) # ONE Woodstove(s) # Garage # of cars ( 3 Tat.) Walls PLASTER)DRYWALL Range/Oven 0 Drop Stair ❑ Patio COVERED Altach. Trim/Finish WOOD Disposal ❑ Scuttle Z Deck Detach. w Bath Floor CER. TILE Dishwasher ❑ Doorway ❑ Porch ENTRY _ Bh: In F Bath Wainscot CER. TILE Fan/Hood ❑ Floor 17 Fence Carport Doors WOOD Microwave ] Heated ❑ Pool Driveway 3 z Washer/Dryer ❑ Finished ❑ Surface GRAVEL O Finished area above grade centains: 7 Rooms 4 Bedrooms 3 Baths 1,702 Square Feet of Gross Living Area Above Grade d Addlhonal features: MAIN HOUSE- OPEN ENTRY PORCH, WINDOWMALL AIR CONDITIONING, REAR ACCESSORY UNIT- COVERED TILED PATIO, CENTRAL AIR CONDITIONING OPEN PARKING FOR BOTH. Descrbe the condition of the properly (including physical, functional and e)temal obsolescence): See attached addendum LLS 0 Copyright® 2eu7 by a la mode, inc. Thisimm may be reproduced unmud'died without written permission, however, a Is mode, inc. must be aclmowledged and credited. ® M RESIDENTIAL Farm GPRES2 — ''Whi OTAL" appraisal software by a Is mode, inc. — 1 -800-ALAMODE 312007 Win File No. 114418 Paae 21 RESIDENTIAL APPRAISAL REPORT FkNo.: 14-0452 My research — , 7 KFdid - - - f — did not reveal any prior sales or transfers at the subject property for the three years prior to the effective date of this appraisal. >- Data Source (S)! BEACHESMI-S, PAPA, REALQUFST x 0 1st Prior Subject Sale/Transfer Analysis of sale/transfer history andfor any current agreement of salaflisting: ON THE EFFECTIVE DATE OF THIS 92 Date: 06/2012 REPORT, THE SUBJECT PROPERTY WAS NOT LISTED IN THE M.L.S. THERE WERE NO KNOW CONTRACTS 37 Price: $66,000 WD ON THE SUBJECT PROPERTY. THE PREVIOUS TRANSFER OF THE SUBJECT WAS THE PURCHASE BY THE LL Source(s): PAPA CURRENT OWNER AS A BANK OWNED PROPERTY. W 2nd Prior Subject SaWTransfer z g Date: 02/2012 THE APPRAISER HAS RESEARCHED AND REPORTED THE SUBJECTS I.- Price: W,200 CERTITITLE COMPLIANCE WITH USPAP STANDARD RULE 1-5 I Source s): PAPA SALES COMPARISON APPROACH TO VALUE (H d evela go) LJ The Sales Oomparls In Approach was not developed for this ap praisal, FEATURE SUBJECT COMPARABLE SALE * I COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address 121 NE 4TH AVENUE 919 NW 3RD STREET 510 NW 11 TH AVENUE 1311 S SEACREST BOYNTON BEACH, FL 33435 BOYNTON BEACH, FL 33435 BOYNTON BEACH, FL 33435 BOYNTON BEACH, FL 33435 Proximtto Subject 0.40 miles NW — 0.59 miles NW — I.D1 miles S Sale Pfte NIA 1$ 92,200 1$ 100,000 J$ 113,000 Sale Price/GLA $ !S .ft. $ 50,72/SQ-tt-I $ 1.1 ..__ ._ $ 67,91 /S_q,ft.1 Data Source(s) MLS, PAPA BEACHES,MLS#RX-9972523 BEACHES.MLSORX-9958919 BEACHES.MLS#RX-3351577 Verif[caticn Source(s) INSPECTION PAPA, REALQU EST PAPA,REALQUEST PAPA, REALQUEST VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + $ Adjust. DESCRIPTION +() $ Adjust. DESCRIPTION LAdjust. Sales or Financing NIA CASH CONV. CASH Concessions NIA NONE LISTED NONE LISTED NONE LISTED Date of Sale/Time N/A FEB 2014 AUGUST 2014 APRIL 2013 Rights Appraised FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE Location_ SIJBRBfAVG SUBRBICOMP SUBRB/COMP SUBRBISUPERIOR Site 12,009 SF 9.147 SF 4,250 SF 10,890 SF View RESIDENTIAL RESIDICOMP. RESIDICOMP. RESID/COMP. Design (5 I ) DUPLEX DUPLEX DUPLEX DUPLEX Quality of Construction FRAM/AVG,CBS/GD CBS/AVG 0 CBSIAVG 0 *CBSfAVG 0. Age 62 YRS 125 EFF. 56 YRS 120 EFF. 56 YRS 120 EFF 60 YRS / 25 EFF 'S Condition AVERAGE GOODYUPDATED -18,000 GOOD(UPDATED -14,OOD AVERAGE W Above Grade Total I Bdrma Baths Total I Bdrms Baths Jotd Bdrms Baths TotallBdrmsi Baths unt 77T Room 00 , - 7 TB 3 3 +30,00D BIR I +30 000 BR 7 : A ft Gross Living Area 1,702 SQ.ft, 1,81 a sq.ft. NO ADJ 1,45D Sg-ft- NO ADJ 1,664 S A. NO ADJ Basement & Finished NONE NONE NONE NONE Roams Below Grade N/A NIA WA N/A Functional Willy AVERAGE AVERAGE AVERAGE AVERAGE Hewn WCogn L_ WIN/WALLJCENTRL WINIWALL CENTRAL CENTRAL Envgy Efficient items NONE NONE NONE NONE Garage/Carport OP PARKING OPEN PARKING OPEN PARKING OPEN PARKING Parch/Patio/Dock PORCH, PATIO X PORCH, PATIO PORCH, PATIO PORCH, PATIO IL IL 0 it Net Adjustment Cotal) + 12,000 0 Adjusted Sale Price Net 0 en of Compar&es Gross 3,000 LU D Summary of Sales Comparison Approach See attached addenda. Indicated Value by Sales Comperison App roach $ 110 pyrightO 2007 by a to mode, Ind. "Ns form maybe reproduced unmodified wilbroutmalM permission, however, a la mode, Inc. must be acknowledged and credited. @@RESIDENTIAL Fo GPRES2 — "WinTOTAl!'appraisal software by a la mode, inc. — 1-800-ALAMODE 312007 IM Fk N. 14-04t2LEl RESIDENTIAL APPRAISAL REPORT The Cost Approach was not di for this appi File No.: 14-0452 COST APPROACH TO VALUE if davell Provide adequate information for replication of the following cost figures and calculations. Support for the opinion of site value (summary at comparable land sales or Mor methods for estimating site value): THE COST APPROACH IS NOT TYPICALLY USED IN THIS TYPE OF ASSIGNMENT AS THE SALES COMPARISON APPROACH Al INCOME APPROACH BEST REFLECTS THE CURRENT MARKET AND THE CURRENT USE OF THE SUBJECT PROPERTY ESTIMATED [J. REPRODUCTION OR F7 — REPLACEMENT COST NEW OPINION OF SITE VALUE ................... 4 0 Source of cost data: DWELLING Sg-Ft @ $ 4 d Oul rating from cost service: Effective date of cost data: Sq.Ft. @ $ =$ Comments an Cost Approach (gross living area calculations, depreciation, etc.): Sq.R. @ $ =$ q.Ft. @ $ Sq,Ft. @ =$ CIO 0 Garage/Carporil Sg.Ft. @ Total Estimate of Cost-New =$ Less Physical IFunctional External De reciatlon I Do reciazed Cost of Impmvernerts "As-is" Value of Site Improvements; =$ 1 Estimated Remaining Economic Life If required): 30 Years INDICATED VALUE BY DOSTAPPROACH -------- ------ X INCOME APPROACH TO VALUE ff developed) J The Income Approach was not developed for this appraisal. Estimated Monthly Market Rent $ 1,850 X Gross Rent Multi liar = $ 101,750 Indicated Value by Income A preach Summary of Income Approach (including support for market rent and GRIM): See attached addenda. IL Real 2 0 PROJECT INFORMATION FOR Ill if appill T71 The Subject is part of a Planriad Unit Development. La al Nama of Pro'ect: Describe common elements and recreational facill Indicated Value by; Sales Comparison Approach $ 110,000 Cost Approach (if develol $ I Income Approach (11 developed) S 101,750 Final Reconciliation SALES COMPARISON ANALYSIS AND THE INCOME APPROACH TO VALUE ARE EACH CONSIDERED IN THE VALUATION OF THE Si PROPERTY. THE MARKET VALUE OF THE SUBJECT IS RECONCILED NEAR THE CENTER OF A NARROW RANGE AT $1 DS DOD. Z 0 This appraisal is made E "as is", L] subject to completion per plans and specifications or the basis of a Hypothetical Condition that the improvements have been completed, ❑ subject to the following repairs or alterations on the basis of a Hypothetical Condition that the repairs or alterations have been completed, [_] subject to Q z the following required inspection based on the Extraordinary Assumption that the coal or deficiency does not require alteration or repair: THIS REPORT IS 0 INTENDED TO GIVE THE FAIR MARKET VALUE OF THE SUBJECT TO ASSIST THE CLIENT IN MAKING AN INFORMED BUYING DECISION. THIS W W REPORT IS NOT INTENDED FOR ANY OTHER USE. ❑ This repel is also subject to other Hypothetical Call and/or Extraordinary Assumptions as specified in the attached addenda. Based an the degree of inspection of the subject property, as indicated below, defined Scope of Work, Statement of Assumptions and Limiting Conditions, and Appraiser's Certifications, my (our) Opinion of the Market Value (or other specified value type), as defined herein, of the real property that is the subject of this report is: $ 105,000 ,as of: 04/1512014 , which is the still dale of this appraisal. If indicated above, this Opinion of Value is subject to Hypothetical Conditions and/or Extraordinary Assumptions included In this report. See attached addenda. 41 ) A toe and complete copy of this report call 17 pages, including exhibits which are considered an integral part of the report. This appraisal report may not be Lu properly understood without reference to the information contained in the complete report. 2 Attached Exhibits: 0 Z1 Scope Limiting Cond./Certificatiour Z Narrative Addendum Photograph Addenda Sketch Addendum N Map Addenda ❑ Additional Sales ❑ Cost Addendum ❑ Flood Addendum ❑ I House Addendum ❑ Hypothetical Conditions ❑ Extraordinary Assumptions ❑ El ❑ Client Contact Client Name: BOYNTON BEACH CRA E-Mail: Address: 710 N. FEDERAL HIGHWAY, BOYNTON BEACH, FL 33435 APPRAISER SUPERVISORY APPRAISER (it required) or GO-APPRAISER if applicable) (D W c Supe t < - Appraiser Name: MICHAEL W. BRUBECK Co-A ' or CO- APPRAISER ,z Company: AUCAMPIDELUENBACK& WHITNEY Company: AUCAMP DELLENRACK& WHITNEY --- ro Phone: 561-998-9326 Fax: 561-241-4759 Phone: 561-998-9326 Fax: 561-241-4759 i mikeb@adw-al corn E-Mail: DaAd@adw-appraisers.com Date of Report (Signature): April 21, 2014 Dale of Report (Signature); April 21, 2014 License or Codification #: Cert Res RD6862 State: FL License or Certhcaton #: Cert Res RD366 State: FL Designation: Designation: Expiration Date of License or Certification: 11/3012014 Expiration Date of License or Certification: 11/3012014 Inspection of Subject: Interior & Exterior ❑ Exterior Only ❑ None Inspection of Subject: ❑ Interior & Exterior rL7 Exterior Only E None Date of Inspection: 0 411 51201 4 1 of Inspection: DID NOT INSPECT Copyright® 2007 by a la Mode, Inc. This I= may be reproduced unmodiffied without writ permission, however, a la made, inc. must be acknowledged and credited. WRESIDEMIAL Form GPFFS2 — "WinTOTAU appraisal software by a la made, Inc. — 1 ACD-ALAMODE 3/2007 M in File No. 14-04521 Page #4 Assumptions, Limiting Conditions & Scope of Work File No.: 14 -0452 Property Address: 121 NF 4TH AVENUE CI : BOYNTON BEACH Slate: FL Ap Code: 33435 Client: BOYNTON BEACH CRA Address: 710 N. FEDERAL HIGHWAY BOYBTON BEACH, FL 33435 Appraiser: MICHAEL W. BRU BECK Address: 3998 FAU BOULEVARD, 9300, BOCA RATON, FL 33431 STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS — The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. — The appraiser may have provided a sketch in the appraisal report to show approximate dimensions of the improvements, and any such sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. Unless otherwise indicated, a Land Survey was not performed. — if so indicated, 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. — The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. — If the cost approach is included in this appraisal, the appraiser has estimated the value of the land in the cost approach at its highest and best use, and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. Unless otherwise specifically indicated, the cast approach value is not an insurance value, and should not be used as such. — The appraiser has noted in the appraisal report any adverse conditions (including, but not limited to, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property, or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property, or adverse environmental conditions (including, but not limited to, the presence of hazardous wastes, toxic substances, etc.) that would make the property more of less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property. — The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. — The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and any applicable federal, state or local laws. — If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal report and valuation conclusion on the assumption that completion of the improvements will be performed in a workmanlike manner. — An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from the client does not became a party to the appraiser- client relationship. Any persons receiving this appraisal report because of disclosure requirements applicable to the appraiser's client do not become intended users of this report unless specifically identified by the client at the time of the assignment. — The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, through advertising, public relations, news, sales, or by means of any other media, or by its inclusion in a private or public database. — An appraisal of real property is not a'home inspection' and should not be construed as such. As part of the valuation process, the appraiser performs a non - invasive visual inventory that is not intended to reveal defects or detrimental conditions that are not readily apparent. The presence of such conditions or defects could adversely affect the appraiser's opinion of value. Clients with concerns about such potential negative factors are encouraged to engage the appropriate type of expert to investigate. The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible assignment results, given the nature of the appraisal problem, the specific requirements at the intended user(s) and the intended use of the appraisal report. Reliance upon this report, regardless of how acquired, by any party or for any use, other than those specified in this report by the Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work, Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties assume no obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its conclusions. Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, etc.): Scope of Work: THE SCOPE OF WORK FOR THE APPRAISAL IS DEFINED BY THE COMPLEXITY OF THE APPRAISAL ASSIGNMENT AND THE REPORTING REQUIREMENTS OF THE APPRAISAL REPORT FORM, INCLUDING THE DEFINITION OF MARKET VALUE, STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS, AND CERTIFICATIONS. THE APPRAISER AT A MINIMUM HAS: 1, PERFORMED A PHYSICAL INSPECTION OF THE SUBJECT PROPERTY, 2, INSPECTED THE NEIGHBORHOOD, 3. INSPECTED EACH OF THE COMPARABLE SALES FROM THE STREET IF ACCESSIBLE, 4. RESEARCHED, VERIFIED AND ANALYZED DATA FROM RELIABLE PUBLIC AND /OR PRIVATE SOURCES, AND 5. REPORTED THE ANALYSIS, OPINIONS, AND CONCLUSIONS IN THIS APPRAISAL REPORT. ORESIDENnAL Copyright® 2007 by a Is mode, inc. This form may be reproduced unmodified without written permission, however, a ha mode, inc, must be acknowledged and credited. Form GPRES2AD — "WinTOTAU' appraisal software by a la mode, inc. —1- 800- ALAMODE 312007 Main File N.14 -42P # Certifications FikNo.: 14 -0452 Property Address: 121 NE 4TH AVENUE City: BOYNTON BEACH State: FL Zip Code: 33435 Client: BOYNTON BEACH CRA Address: 710 N. FEDERAL HIGHWAY ROYBTON BEACH, FL 33435 Appraiser: MICHAEL W. BRUBECK Address: 3998 FAU BOULEVARD, #300, BOCA RATAN, FL 33431 APPRAISER'S CERTIFICATION I certify that, to the best of my knowledge and belief: — The statements of fact contained in this report are true and correct. — The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. — I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. — Unless otherwise indicated, I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three -year period immediately preceding acceptance of this assignment. -- I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. — My engagement in this assignment was not contingent upon developing or reporting predetermined results. — My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. — My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that were in effect at the time this report was prepared. — I did not base, either partially or completely, my analysis and/or the opinion of value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property, or of the present owners or occupants of the properties in the vicinity of the subject property. — Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report. — Unless otherwise indicated, no one provided significant real property appraisal assistance to the persons) signing this certification. DEFINITION OF MARKET VALUE *: Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: 1. Buyer and seller are typically motivated; 2. Both parties are well informed or well advised and acting in what they consider their own best interests; 3. A reasonable time is allowed for exposure in the open market; 4. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and 5. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. * This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. Client Contact: Client Name: BOYNTON BEACH CRA E -Mall: Address: 710 N. FEDERAL HIGHWAY, BOYBTON BEACH, FL 33435 APPRAISER SUPERVISORY APPRAISER (if required) or CO- APPRAISER pticable) W :3 Supe a a Appraiser Name. MICHAEL W. BRUBECK Co -A ' er Na Au (C9 Company: AUCAMP DELLENBACK & WHITNEY Company: AUCAMP DI= LLENBACK & WHITNEY Ui Phone: 561- 998 -9326 Fax: 561 - 241 -4759 Phone: 561- 998 -9326 Fax: 561 - 241 -4759 E -Mail: mikeboadw- appraisers.com E-Makl: David adw- appraisers.com _ Date Report Signed: Apra 21, 2014 Date Report Signed: April 21 2514 License or Certification #: Cert Res RD6862 State: FL License or Certification #: Cerl Res RD366 State: FL Designation: Designation: Expiration Date of License or Certification: 11130120 Expiration Date V License or Unification: 11130/2014 Inspection of Subject: 1 Interior & Exterior ❑ Exterior Only C None Inspection of Subject [: Interior & Exterior 7 Exterior Only Z None Date of Inspection: 04/15/2014 Date of Inspection: DID NOT INSPECT o Copyright® 2007 by a la made, Inc. This lorm may be reproduced unmadaied without written permission, however, a Is mode, Inc. must be acknowledged and credited. Form GPRES2AD -- "winTOTAL" appraisal software by a la made, inc. —1- 900- ALAMODE 312007 Main Fife No. 14- 452 Pa a #6 Supplemental Addendum File No. 14 -0452 Borrower /Cliert NIA PropertyAddress 121 NE 4TH AVENUE city BOYNTON BEACH CMnty PALM BEACH State FL 7jp Code 33435 Lender STERLING BANK • GP Residential : Improvements - Condition of the Property THE SUBJECT MAIN HOUSE SUFFERS MINOR DEFERRED MAINTENANCE ISSUES SUCH AS A LACK OF GENERAL CLEANING AND PAINTING AND IS CONSIDERED IN FAIR CONDITION. SOME SMALL REPAIRS ARE NEEDED FOR OVERALL COSMETIC REASONS. THE MAIN COMPONENTS OF THE HOME ARE PRESENT AND APPEAR TO BE INTACT. THERE APPEARS TO BE NO RECENT RENOVATIONS OR UPDATES PRESENT. FRAME CONSTRUCTION, COMPOSITE ROOF, WOOD LAMINATE FLOORING, STANDARD KITCHEN WITH FORMICA CABINETS AND COUNTER. STANDARD BATHS WITH CERAMIC FLOORS AND WALLS. TWO OF THE BEDROOMS AND ONE BATHROOM OF THE MAIN HOUSE WERE LOCKED AND COULD NOT BE ACCESSED. THE INTERIOR FINISHES AND CONDITION OF THESE ROOMS IS CONSISTENT WITH THE REST OF THE HOUSE ACCORDING TO THE PROPERTY MANAGER. THE REAR ACCESSORY UNIT WAS BUILT IN 2008 AND IS IN GOOD CONDITION. CERAMIC TILE FLOORS, LAMINATE CABINETS AND FORMICA COUNTERS, CENTRAL AIR CONDITIONING. • GP Residential : Sales Comparison - Summa THE SUBJECT CONSISTS OF TWO BUILDINGS ON ONE LOT. THE FRONT BUILDING, OR MAIN HOUSE, IS FRAME CONSTRUCTION BUILT IN 1935. IT CONSISTS OF THREE BEDROOMS AND TWO BATHROOMS. MEASURES AT 988 SQ FT. THE REAR BUILDING, OR ACCESSORY UNIT, IS CBS CONSTRUCTION BUILT IN 2008. IT CONSISTS OF ONE BEDROOM AND ONE BATHROOM, MEASURED AT 714 SQ FT. THE MAIN HOUSE IS CURRENTLY RENTED FOR $1,100 PER MONTH AND THE REAR UNIT IS VACANT, ITS MOST RECENT MONTHLY RENTAL AMOUNT WAS $750 ACCORDING TO THE PROPERTY MANAGER. DUE TO THE SUBJECT ZONING, R2 DUPLEX, AND ITS CURRENT USE AS AN INCOME PRODUCING PROPERTY, MULTI- FAMILY HOMES IN THE MARKET AREA WERE ANALYZED. BEDROOM COUNTS WERE EMPHASIZED DURING THE SEARCH FOR COMPARABLES. ON THE SALES GRID, THE TOTAL BEDROOM AND BATHROOM COUNTS WERE LISTED FOR THE SUBJECT AND EACH COMPARABLE. THE SUBJECTS EFFECTIVE AGE AND CONDITION ON THE SALES GRID IS AN AVERAGE OF EACH BUILDING ON THE PROPERTY THE SALES SELECTED ARE CONSIDERED THE BEST AVAILABLE FOR ANALYSIS. EACH IS A DUPLEX IN THE SUBJECT MARKET AREA. SALES #1 ARE #2 ARE EACH ADJUSTED FOR INFERIOR BEDROOM COUNT ($30,000), AND FOR SUPERIOR OVERALL CONDITION AND EFFECTIVE AGE DUE TO RECENT UPDATES BASED ON $10 PER SQUARE FOOT. SALE #3 IS A DUPLEX WITH A COMPARABLE BEDROOM COUNT. DUE TO THEIR MORE RECENT TRANSFERS AND COMPARABLE LOCATIONS, SALES 01 AND #2 WERE GIVEN EXTRA WEIGHT AS THE SALES COMPARISON MARKET VALUE OF THE SUBJECT IS RECONCILED AT $110,000. `Summary of Income Approach AN ESTIMATED MARKET RENT WAS APPLIED TO THE SALES COMPARABLES LISTED IN THIS REPORT AND EACH WAS ASSIGNED A MONTHLY GRIM BY PROXY. RECONCILIATION OF THE SUBJECT GRIM WAS DERIVED WITH WEIGHT GIVEN TO SALE #1 DUE TO ITS LOCATION AND RECENT TRANSFER. MARKET RENT IS DERIVED FROM THE ANALYSIS OF RECENTLY RENTED ONE BEDROOM AND THREE BEDROOM UNITS IN THE NEIGHBORHOOD WHICH ARE LISTED BELOW. ALSO CONSIDERED IS THE CURRENT MONTHLY RENT OF THE SUBJECT MAIN HOUSE ($1,100) AND THE MOST RECENT RENT OF THE ACCESSORY UNIT ($750), WHICH WAS OBTAINED FROM THE PROPERTY MANAGER. RENTAL COMPARABLES WERE CHOSEN TO REFLECT THE SIZE, LOCATION AND CONDITION OF THE SUBJECT. ESTIMATED MARKET RENT MONTHLY GRM SALE #1 $1,700 MO. 54 SALE #2 $1,500 MO. 66 SALE #3 $1,800 MO. 63 RENTS ANALYZED ADDRESS ROOM COUNT SIZE LEASE DATE AMOUNTIMONTH 1414 N SEACREST BLVD, BOYNTON BEACH. 3 BR 2 BA, 1200 SF 0412013 $1,200. 125 s ATLANTIC DR, BOYNTON BEACH, 3 BR 2 BA, 1168 SF 0412013 $1,250. 131 SE 12TH AVENUE, BOYNTON BEACH. 3 BR 2 BA, 1,110 SF 0512013 $1,000. 222 SE 4TH STREET BOYNTON BEACH 1 BR 1 BA, 612 SF 08/2013 $800. 1048 RIDGE ROAD BOYNTON BEACH 1 BR 1 BA, 540 SF 12/2013 $750. 1102 SE 3RD STREET BOYNTON BEACH 1 BR 1 BA, 492 SF 1012013 $675. EXPOSURE TIME: BASED ON THE DAYS ON THE MARKET OF TYPICAL HOMES IN THE NEIGHBORHOOD, INCLUDING THE COMPARABLES IN THIS REPORT, AN ESTIMATE OF EXPOSURE TIME IS 3 -6 MONTHS. EXPOSURE TIME: ESTIMATED LENGTH OF TIME THAT THE PROPERTY INTEREST BEING APPRAISED WOULD HAVE BEEN OFFERED ON THE MARKET PRIOR TO THE HYPOTHETICAL CONSUMMATION OF A SALE AT MARKET VALUE ON THE EFFECTIVE DATE OF THE APPRAISAL ADDITIONAL COMMENTS THE DATA SOURCE REFERRED TO AS 'PAPA' IS THE PROPERTY APPRAISERS PUBLIC ACCESS OF PALM BEACH COUNTY. ADDITIONAL CERTIFICATIONS - THE REPORTED ANALYSES, OPINIONS, AND CONCLUSIONS WERE DEVELOPED, AND THIS REPORT HAS BEEN PREPARED, IN CONFORMITY WITH THE CODE OF PROFESSIONAL ETHICS AND STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE OF THE APPRAISAL INSTITUTE. - THE USE OF THIS REPORT IS SUBJECT TO THE REQUIREMENTS OF THE APPRAISAL INSTITUTE RELATING TO Form TADD — "WInA)TAL" appraisal schware by a la mode, Inc. — 1 -800-ALAMODE Mam File No. 14-0452j�b� Supplemental Addendum File No. 14-0452 Bor NE 4TH AVENUE BOYNTON BEACH DOUnty PALM BEACH _�tat.e FL ZiPCOdB 33435 Lender STERLING BANK REVIEW BY ITS DULY AUTHORIZED REPRESENTATIVES. 'AS OF THE DATE OF THIS REPORT, DAVID AUCAMP,SRA, HAS COMPLETED THE CONTINUING EDUCATION PROGRAM FOR DESIGNATED MEMBERS oF THE APPRAISAL INSTITUTE. ADDITIONAL COMMENTS AND CONDITIONS mp THE APPRAISAL REPORT: THIS ASSIGNMENT /s CONSIDERED TOusAw"APPRAISAL Rsponr'.Am DEFINED ev THE UNIFORM STANDARDS or PROFESSIONAL APPRAISAL Pnunr/oE(osnAp). THE REPORT CONFORMS ro APPLICABLE r/nnsAGUIDELINES AND/OR REQUIREMENTS. APPRAISAL PROCESS: SALES COMPARISON APPROACH: BASED ON THE COMPARISON OF THE SUBJECT PROPERTY WITH SALES Or COMPARABLE PROPERTIES CONSIDERED TO BE WITHIN THE SUBJECT MARKET. AFTER COMPARISON, AouooTwswTS ARE MADE nn EQUATE ANY DIFFERENCES BETWEEN THE SUBJECT AND THE SALES. THIS /a TYPICALLY CONSIDERED THE MOST RELIABLE APPROACH To VALUE FOR THE TYPICAL RESIDENTIAL PROPERTY. uouT APPROACH: BASED ow THE ESTIMATED REPRODUCTION COST op THE SUBJECT PROPERTY. CONSTRUCTION COSTS ARE TAKEN FROM MARSHALL-SWIFT VALUATION SERVICE AND SUPPLEMENTED WITH LOCAL CONTRACTOR INFORMATION WHEN AVAILABLE. SITE VALUE /o DERIVED VIA A REVIEW nF RECENT SITE SALES (WHEN AVAILABLE) /w THE SUBJECT NEIGHBORHOOD on MARKET, LAND ABSTRACTION, AND/OR SITE To VALUE RATIOS. NOT APPLICABLE /w THIS APPRAISAL REPORT. INCOME APPROACH: BASED owESTIMATING THE VALUE oF INCOME PRODUCING PROPERTIES oY ANALYZING THE PRICE WILLING INVESTORS PAY FOR POTENTIAL INCOME STREAMS THIS Is TYPICALLY CONSIDERED THE MOST RELIABLE APPROACH TO VALUE FOR A RESIDENTIAL PROPERTY WHICH IS INTENDED TO BE USED AS INCOME pmn000/mo. muHsuT AND BEST USE op THE SUBJECT PROPERTY: THE HIGHEST AND BEST USE op THE SUBJECT PROPERTY /n DETERMINED nv WHAT WILL PROVIDE THE HIGHEST NET RETURN on PRESENT WORTH op THE SUBJECT PROPERTY, FACTORS CONSIDERED ARE: 1. POSSIBLE: THOSE PHYSICALLY POSSIBLE USES To WHICH THE SITE mSUITED. 2. PERMISSIBLE: THOSE POSSIBLE USES PERMIT BY ZONING OR DEED RESTR 3. FEASIBLE: THOSE USES WHICH WILL PRODUCE A NET RETURN OR PRESENT WORTH TO THE OWNER. 4. HIGHEST AND BEST USE: THOSE FEASIBLE USES WHICH WILL PRODUCE THE HIGHEST NET RETURN OR NET wnmn. THE SUBJECT /o BEING UTILIZED nz ITS HIGHEST AND BEST USE, As ITS ZONING PERMITS THIS USE AND /r PRODUCES THE HIGHEST RETURN. PERSONAL PROPERTY AND/OR INTANGIBLE NON-REALTY ITEMS: ITEMS OF PERSONAL PROPERTY AND/OR OTHER INTANGIBLE NON-REALTY ITEMS ARE NOT INCLUDED IN THE APPRAISAL OF THE SUBJECT PROPERTY. THE INDICATED MARKET VALUE ESTIMATE FOR THE SUBJECT PROPERTY DOES NOT INCLUDE ANY oF THESE ITEMS. osPRso/xnom; PHYSICAL DEPRECIATION m BASED ow THE wasIL/ps METHOD oF ACCRUED DEPRECIATION UTILIZING ATOTAL ECONOMIC LIFE npvn YEARS, UNLESS OTHERWISE NOTED. FUNCTIONAL on EXTERNAL DEPRECIATION, /p PRESENT, /n SPECIFICALLY ADDRESSED /w THE APPRAISAL REPORT. /mpnovsmswnS To THE SUBJECT SITE: THE APPRAISAL /o NOT A HOME INSPECTION AND /sNOT Tpes CONFUSED WITH SUCH. THE APPRAISER HAS PERFORMED A VISUAL INSPECTION ONLY AND THE APPRAISAL CANNOT Bs RELIED UPON noDISCLOSE CONDITIONS «wo/nn DEFECTS /w THE PROPERTY. /m ADDITION, THE APPRAISER MAKES mo GUARANTEES on WARRANTIES ^mrn WHETHER ANY oF THE IMPROVEMENTS noTHE SUBJECT SITE HAVE BEEN PROPERLY PERMITTED /w ACCORDANCE WITH THE PROPER GOVERNING BODY. THE APPRAISER ASSUMES THAT ALL IMPROVEMENTS TO THE SUBJECT SITE HAVE BEEN PROPERLY PERMIT AND ARE IN COMPLIANCE WITH THE PROPER GOVERNING BODY. THE APPRAISER ACCEPTS NO RESPONSIBILITY FOR ANY DISPUTES WHICH MAY ARISE OVER ANY SUCH ISSUE. APPRAISER ACKNOWLEDGEMENT: THE APPRAISER ACKNOWLEDGES AND AGREES /w CONNECTION WITH ELECTRONIC SUBMISSION oFTHE APPRAISAL AS FOLLOWS: THE SOFTWARE UTILIZED avTHE APPRAISER nu GENERATE THE APPRAISAL PROTECTS SIGNATURE SECURITY o, MEANS opA DIGITAL SIGNATURE SECURITY FEATURE FOR EACH APPRAISER SIGNING THE REPORT, AND EACH APPRAISER MAINTAINS SOLE CONTROL OF THEIR RELATED SIGNATURE THROUGH A PASSWORD, HARDWARE DEVICE, oe OTHER MEANS. THE APPRAISER /5 FULLY RESPONSIBLE FOR THE INTEGRITY AND AUTHENTICITY op DATA AND SIGNATURES TRANSMITTED ELECTRONICALLY AND WILL HOLD THE CLIENT HARMLESS FROM AND AGAINST ANY BREACH oR FAILURE oF DATA INTEGRITY, SIGNATURE AUTHENTICITY, on BREACH np DATA ssoomrv. ADOBE'S DISTILLER SOFTWARE OR EQUIVALENT IS UTILIZED BY THE APPRAISER TO TRANSMIT THIS EmonxpTso poF-FomMxrrsoAppmmnAL, AT MINIMUM, THE SOFTWARE CONTAINS THE FOLLOWING SECURITY MEASURES: /oswT/F/sornAwnw/ou/owEnnonooumwonasrRuvnm/no/owpnnnsns.^wu CONFIRMS DATE, TIME, AND QUANTITY OF DATA SUBMITTED BY APPRAISER AND THE DATE, TIME AND QUANTITY or DATA RECEIVED e, THE CLIENT, AND SECURES DATA FROM EDITING aYMEANS OF A PASSWORD, HARDWARE DEVICE, OR OTHER MEANS THAT REMAINS IN THE SOLE CONTROL OF THE TRANSMITTING APPRAISER. Form TADD — "WinTOTAL' appraisal sottware by a la mode, !no. — 1-800-ALAMODE Main FII Ng. 14-Q4 2 Pa a #0 Supplemental Addendum He No. 14 -0452 BorrowerlClient NIA PropertyAddress 121 NE 4TH AVENUE 04 BOYNTON BEACH 00HAV PALM REACH State FL Zip Cade 33435 Lender STERLING BANK ALL SUCH TRANSMISSIONS SHALL BE ROUTED ONLY TO THE CLIENT AT THE EMAIL ADDRESS PROVIDED IN THE ASSIGNMENT REQUESTAT THE TIME THE ORDER WAS PLACED, UNLESS SUBSEQUENTLY DIRECTED OTHERWISE BY THE CLIENT. THE APPRAISER AGREES THAT NO SUCH SUBSEQUENT TRANSMISSION WILL RESULT IN ADDITIONAL FEES BILLED TO THE CLIENT, UNLESS AGREED TO BY THE CLIENT BEFORE SAID SUBSEQUENT TRANSMISSION. NO DUPLICATE TRANSMISSION OF THIS REPORT WILL BE MADE AND NO DELIVERY OF A HARD COPY OF THIS REPORT WILL BE MADE, UNTIL THE APPRAISER HAS RECEIVED THE CLIENTS WRITTEN INSTRUCTIONS THERETO. Form TADD — "WInTOTAL" appraisal software by a la mode, Inc. — 1 -800-ALAMODE Wain File No. 14- 2 Pa Subject Photo Page Borrower /C lient WA Property Address 121 NE 4TH AVENUE Cit YNTON BEAC County PALES REACH State FL p Cate a4s Lender BOON ON BEACH C.R.A. S ubject Front 121 NE 4TH AVENUE Sales Price NIA Gross Building Area ' Age 62 YRS ! 25 EFF. MAIN HOUSE (FRONT) i E � }t � iSit1 s Et ,,1, � Subject Rear MAIN HOUSE (REAR) a - �14 �Slu, 4tf i ; r� - Subject Street l- ;.. Form PICPIX.SC "WinTOTAL" appraisal software by a la made, inc. —1- 800- ALAMODE Interior Photos Borrower(Ciient N/A Property Address 121 NE 4TH AVENUE cibr BOYNTON BEACH CcuPf ' {'ALM B[4CFI Slate FL Ti Code 33435 Lender BOYNTON BEACH C.R,A. ,i I� k 1V IN W - W)i�V ! F.V aN KITCHEN BEDROOM tips r � r 4 >? BATHROOM �S �l h ACCESSORY UNIT (FRONT) ACCESSOi=ry vkoi 04FAr , LIVINGIDINIh';y 1x111 � ri -77 M , i i �� ; t '11 ° 0 1 BEDROOM KITCHEN BATHROOM Form PICINT15 — "WinTOTAL" appraisal software by a la mode, inc. —1- 800- ALAMODE I M a in-19 1 Comparable Photo Page Rnrroweri011ent N/A Prn ert Address 121 NE 4TH A L`it BOYNTON BEACH Counly PALM BEACH State FL Ziv Code 33435 Lender BOYNTON BEACH C.R.A. `t Comparable 1 919 NW 3RD STREET r' Prox. to Subject 0.40 miles NW i�� 3� �� Sales Price 92,200 s Gross LroingArea 1,818 ��i t -1^ r"�1`s, 4 s tr s Total Rooms 7 Total Bedrooms 3 Total Bathrooms 3 „ Location SUBRB/COMP - View RESIDICOMP. s °R � Site 9,147 SF Quality CBSIAVG Age 56 YRS 120 EFF V `r - IsT, )ssn t ��,, ; ,fir Comparable 2 510 NW 11TH AVENUE Prox. to Subject 0S9 miles NW Sales Price 100,000 Gross Living Area 1,450 i ?`£s Total Rooms 7 -� Total Bedrooms 3 Total Bathrooms 3 Location SUBR9lCOMP - View RESIDICOMP. Site 4,250 SF Quality CBSIAVG Age 56 YRS 120 EFF ss s4 Comparable 3 rrs''C t�l�t t ll rrt r �� ss' lirst 1311 S SEACREST Prox. to Subject 1.01 miles S - Sales Price 113,000 Gross Living Area 1,664 Total Rooms 7 " Total Bedrooms 4 Total Bathrooms 2 '} t' Location SUBRBISUPERIOR View RESIDlCOMP. I� Site 10,890 SF Quality cBSrnvG f S Age 60 YRS 125 EFF Form PICPV(.CR — 'M1NinTOTAL" appraisal software by a la mode, inc. —1- 800- ALAMODF M' 14-04521 P B Sketch Borrower /Client NIA Prnp�i ly Address 121 NE 41 H AVENUE City BOYNTON BEACH CQWn PALM BEACH State FL Zip Code _;s3A"35 Lander BOYNTON BEACH C.R.A. __- 2B' Bath Bedmosn Kitchen l iV __ 13 Living/ Dining Room Covered Patio Entrance 1 l Bedroom g dmom `. Bath Kitchen Bath DlnEng Area I Bedroom living Room Ermnm semen W!war via, � snrd,mn Comments: AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN Code Descnphon Net size NetTalals Breakdown Subt 6LA1 Main House 988.0 - –.- .-- .-- -. -�__ Main 11 Acc. 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S TATE OF FLORIDA DEPARTMENT OF ESTT$SINES r �TTP :C7rPESSIONA , 9EG- V IAORI �A TT�"�.AL B 63"C°.XTH .a"sP2?s'1.&T SAL W) o fuss 2fTT �Tt�i Li�QaT 0� The CERTIFIED RE8XDX14T1AL APPRAtSER Named below IS CERTIFIED Under 'use .T:ovisi xis of Clzaj }cer 475 pi atia date¢ SvOV 30,. 2014 3,998 FAU BLVD STITTE 300 RICK SCOTT KEN L�kWSON GOVERNOR SECRETARY Form SCA — VinTOTAL" appraisal software by a 4 mode, inc. — 1 -800-ALAMODE illlcla;rd MA i3r•i bml Suite Cerqified F ender ial Real l mote ppnaiscr- Edam @aurae I'u nui Senior }li h School Paanum ( }!tics 197x) C`tgmhugm t orrraaiunhy C` + >llige Anna 1 €sigh , (Mdo 19H1 Itcl;awd ,xiicr°hoicea Au up. 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Condominiums. V ata ni Land, '.e.raa M la'iC'amw k'rc Nrtiv:;.Anmaid,!) Wit= 1tGlrscatthnr I'II::A :!!sprits cc! f lii °aalm IC }aria Mu k Regov Ehnk I" Liraiwd BM l 06daa lilaowN lAnk f krrad:a Co min fkmk Harris 13mik (l"an 13aiarEr [.L;a c, lkwk 11) I3rtaa€< SebISCTi 11 ANIT" 1' nItk M yge Mmmin & t1'cskeHod No SCA — "WinTOTAL" appraisal software by a la mode, inc. --1- 800- ALAMODF ""14 626 T T F FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REAL ESTATE APPRAISAL ED __- LIC SE NBR BMW 08 11C�IS 1536562 366 I The CERTIFIED RESIDENTIAL APPRAISER Named below IS CERTIFIED Under the provisions Of Chapter 475 FS. Expiration date: NOV 30 0014 AUCAMP, DAVID HINE 3998 FAU BLVD S`I`E 300 OCA RATON DIE 33431 RICK SCOTT KEN LA.WSON GOVE OR. tat ' i i'r4:T { L:WFIF -l') LA L.MV SECRETARY Form SCA — "WinTOTAL" appraisal software by a la mode, inc. — 1- BOC- ALAMOOE PURCHASE AGREEMENT Page 1 of 13 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 ROSEBUD HOUSE, LLC, a Florida Limited Liability Corporation (hereinafter "SELLER "). In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree as follows: 1. PURCHASE AND SALE/PROPERTY SELLER agrees to sell and convey to CRA and CRA agrees to purchase and acquire from SELLER, on the terms and conditions hereinafter set forth, the Properties located in Palm Beach County, Florida (the "Properties ") and more particularly described as follows: PNC # - 4- 4 -21 -2- 003 -0041 Legal Description: The West 75 feet of Lot 4 less the North 140 feet thereof, Block 3, of Shepard Addition to Boynton, Florida, according to the plat thereof, as recorded in Plat Book 2, Page 59, as recorded in the Public Records of Palm Beach County, Florida. 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be One Hundred Fifty -Five Thousand and 00 /100 ($155,000.00) Dollars, payable in cash, by wire transfer of United States Dollars at the Closing. 3. DEPOSIT. 3.1 Earnest Money Deposit Within five (5) Business Days after the execution of the Purchase Agreement by both Purchaser and Seller CRA shall deliver to Lewis, Longman & Walker, PA ( "Escrow Agent ") a deposit in the amount of Ten Thousand Dollars ($10,000.00) Dollars (the "Deposit "). 3.2 Application/Disbursement of Deposit. The Deposit shall be applied and disbursed as follows: The Deposit shall be delivered to SELLER at Closing and the CRA shall receive credit for such amount against the Purchase Price. If this Agreement is terminated during the Feasibility Period (hereinafter defined) for any reason, the Deposit shall be immediately refunded to the CRA. If this Agreement is terminated due to a default, pursuant to Section 12, the Deposit shall be delivered to (or retained by, as applicable) the non - defaulting Party, and the non - defaulting Party shall have such additional rights, if any, as are provided in Section 12. 3.3 Escrow Agent. CRA and SELLER authorize Escrow Agent to receive, deposit and hold funds in escrow and, subject to clearance, disburse them upon proper 00346171 -1 Rosebud —121 NE 4 11 Ave PURCHASE AGREEMENT Page 2 of 13 authorization and in accordance with Florida law and the terms of this Agreement. The parties agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to CRA and SELLER, unless the misdelivery is due to Escrow Agent's willful breach of this Agreement or gross negligence. If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable attorney's fees and costs to be paid from the escrowed funds which are charged and awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so long as Escrow Agent consents to arbitrate. 4. EFFECTIVE DATE. The effective date of the Purchase Agreement is the date that the last party executes the Agreement as set forth in the signature block below. 5. CLOSING. The purchase and sale transaction contemplated herein shall close on or before August 4, 2014, unless extended by other provisions of this Agreement or by written agreement, signed by both parties, extending the Closing. 6. TITLE TO BE CONVEYED At Closing, SELLER shall convey to CRA, by General Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined), valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions except only the following (collectively, the "Permitted Exceptions "): (a) general real estate taxes and special assessments for the year of Closing and subsequent years not yet due and payable; (b) covenants, conditions, easements, dedications, rights -of -way and matters of record included on the Title Commitment or shown on the Survey (defined in Section 7), to which CRA fails to object, or which CRA agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof. 7. FEASIBILITY PERIOD. The CRA, and its designees shall have up to fifteen (15) days from the Effective Date of this Agreement ( "Feasibility Period "), at CRA's expense, to make inquiries to determine if the Property is suitable for its intended use and to enter upon the Property, at any time and from time to time with reasonable notice to SELLER and so long as said investigations do not result in a business interruption, to perform any and all physical tests, inspections, valuation appraisals and investigations of the Property, including but not limited to Phase I and Phase II investigations, which CRA may deem necessary. During this Feasibility Period, CRA may elect, in CRA's sole and absolute discretion, to terminate this contract and receive back all Deposits hereunder. If CRA elects to terminate this Agreement in accordance with this Section, CRA shall: (i) leave the Property in substantially the condition existing on the Effective Date, subject to such disturbance as was reasonably necessary or convenient in the testing and investigation of the Property; (ii) to the extent practicable, shall repair and restore any damage caused to the Property by CRA's testing and investigation; and (iii) release to SELLER, at no cost, all reports and other work generated as a result of the CRA's testing and investigation. CRA hereby agrees to indemnify and hold SELLER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to CRA (including, without limitation, any construction liens resulting therefrom) or for damage to persons or property (subject to the limitation on practicability provided above) arising out of CRA's investigation of the Property. However, CRA's indemnification obligations shall not exceed its statutory limits as provided within Section 00346171 -1 Rosebud —121 NE 4 th Ave PURCHASE AGREEMENT Page 3 of 13 768.28, Florida Statutes, and CRA does not waive its sovereign immunity rights. SELLER hereby agrees to indemnify and hold CRA harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to SELLER. SELLERS' obligations under this Section shall survive the termination, expiration or Closing of this Agreement. 7.1 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 CRA, in CRA's sole and absolute discretion, shall have the option of (i) extending the Cure Period and the Closing for one additional thirty (30) day period, or (ii) accepting the Title to the Property as of the time of Closing or (iii) canceling and terminating this Agreement, in which case, the Deposit shall be returned to CRA and the Parties shall have no further obligations or liability hereunder, except for those expressly provided herein to survive termination of this Agreement. Prior to the Closing, CRA shall have the right to cause the Title Company to issue an updated Title Commitment ( "Title Update ") covering the Property. If any Title Update contains any conditions which did not appear in the Title Commitment, and such items render title unmarketable, CRA shall have the right to object to such new or different conditions in writing prior to Closing. All rights and objections of the Parties with respect to objections arising from the Title Update shall be the same as objections to items appearing in the Title Commitment, subject to the provisions of this Section. 7.2. 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 7.1 concerning title objections. 00346171 -1 Rosebud — 121 NE 4" Ave PURCHASE AGREEMENT Page 4 of 13 7.3 SELLER DELV ERIES. SELLER shall deliver to CRA the following documents and instruments within ten (10) days of the Effective Date of this Agreement, except as specifically indicated: 7.3.1 Copies of any reports or studies (including engineering, environmental, soil borings, and other physical inspection reports), in SELLER' possession or control with respect to the physical condition or operation of the Property, if any. 7.3.2 Copies of all licenses, variances, waivers, permits (including but not limited to all surface water management permits, wetland resource permits, consumptive use permits and environmental resource permits), authorizations, and approvals required by law or by any governmental or private authority having jurisdiction over the Property, or any portion thereof (the "Governmental Approvals "), which are material to the use or operation of the Property, if any. 7.3.3 Prior to the Closing Date, SELLER shall execute and deliver to CRA any and all documents and instruments required by CRA, in CRA's sole and absolute discretion, which: (i) effectuate the transfer to CRA of those Governmental Approvals, or portions thereof which are applicable to the Property, that CRA desires to have assigned to it, and /or (ii) cause the Property to be withdrawn from any Governmental Approvals. No later than thirty (30) days prior to the Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the Governmental Approvals (including but not limited to any and all portions of the surface water management system, mitigation areas or other items which do not comply with the Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at the time of Closing, any unrecorded instruments affecting the title to the Property, including, but not limited to any conveyances, easements, licenses or leases. 8. CONDITIONS TO CLOSING. CRA shall not be obligated to close on the purchase of the Property unless each of the following conditions (collectively, the "Conditions to Closing ") are either fulfilled or waived by CRA in writing: 8.1. Representations and Warranties. All of the representations and warranties of SELLER contained in this Agreement shall be true and correct as of Closing. 8.2. Condition of Pro e . The physical condition of the Property shall be the same on the date of Closing as on the Effective Date, reasonable wear and tear excepted. 8.3. Pending Proceedings. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever, pending or threatened, which has not been disclosed, prior to closing, and accepted by CRA. 8.4. Compliance with Laws and Regulations. The Property shall be in compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of Closing. 00346171 -1 Rosebud — 121 NE 4" Ave PURCHASE AGREEMENT Page 5 of 13 8.5. Occupancy. The property shall be conveyed to the CRA at time of closing unoccupied. The SELLER hereby warrants that there will be no tenants on the property at the time of the closing. 9. CLOSING DOCUMENTS. The CRA shall prepare, or cause to be prepared, the Closing Documents set forth in this Section, except for documents prepared by the 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: 9.1. Deed. A Warranty Deed (the "Deed ") conveying to CRA valid, good, marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances and other conditions of title other than the Permitted Exceptions. 9.2 Seller's Affidavits. SELLER shall furnish to CRA an owner's affidavit attesting that, to the best of its knowledge, no individual or entity has any claim against the Property under the applicable construction lien law; and that there are no parties in possession of the Property other than SELLER. SELLER shall also furnish to CRA a non - foreign affidavit with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced above, the same shall be deemed an uncured title objection. 9.3. Closing Statement. A closing statement setting forth the Purchase Price, the Deposit, all credits, adjustments and prorations between CRA and SELLER, all costs and expenses to be paid at Closing, and the net proceeds due SELLER, which CRA shall also execute and deliver at Closing. 9.4. Corrective Documents. Documentation required to clear title to the Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions. 9.5. Additional Documents. Such other documents as CRA or the Title Company may reasonably request that SELLER execute and deliver, and any other documents required by this Agreement or reasonably necessary in order to close this transaction and effectuate the terms of this Agreement. 10, PRORATIONS. CLOSING COSTS AND CLOSING PROCEDURES. 10.1. 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. 10.2 Ad Valorem Taxes CR A 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 the 00346171 -1 Rosebud —121 NE 4 Ave PURCHASE AGREEMENT Page 6 of 13 Closing, the actual amount of assessed real property tax on the Property for the current year is higher than any estimate of such tax used for purposes of the Closing, the parties shall re- prorate any amounts paid or credited based on such estimate as if paid in November. This shall survive the Closing. 10.3. Special Assessment Liens. Certified, confirmed and ratified special assessment liens imposed by public bodies as of Closing are to be paid by SELLER. Pending liens as of Closing shall be assumed by CRA. If the improvement has been substantially completed as of the Effective Date, any pending lien shall be considered certified, confirmed or ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or assessment for the improvement by the public body. 10.4. Closing Costs. CRA shall be responsible for all documentary stamps on the deed, recording the deed and all general closing expenses (settlement fee, courier fees, overnight package, etc.). SELLER is responsible for their own legal fees. All other costs of closing shall be borne by CRA. 14.5 Closing Procedure. CRA shall fund the Purchase Price subject to the credits, offsets and prorations set forth herein. SELLER and CRA (as applicable) shall execute and deliver to Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i) disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marked -up" Title Commitment to CRA, and promptly thereafter, record the Deed and other recordable Closing Documents in the appropriate public records. 10.6 Existing Mortgages and Other Liens At Closing, SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments applicable to and encumbering the Property. 11. REPRESENTATIONS, COVENANTS AND WARRANTIES. Seller's Representations and Warranties. To induce CRA to enter into this Agreement, SELLER makes the following representations, all of which, to the best of its knowledge, in all material respects and except as otherwise provided in this Agreement (i) are now true, and (ii) shall be true as of the date of the Closing unless SELLER receives information to the contrary, and (iii) shall survive the Closing. In that event, CRA shall be provided immediate notice as to the change to the following representations: 11.1 At all times from the Effective Date until prior to Closing, SELLER shall keep the Property (whether before or after the date of Closing) free and clear of any mechanic's or materialmen's liens for work or materials furnished to or contracted for, by or on behalf of SELLER prior to the Closing, and SELLER shall indemnify, defend and hold CRA harmless from and against all expense and liability in connection therewith (including, without limitation, court costs and reasonable attorney's fees). 11.2 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 Property by any organization, person, individual or governmental agency which would affect (as to any 00346171.1 Rosebud — 121 NE 4 th Ave PURCHASE AGREEMENT Page 7 of 13 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. 11.3 SELLER has full power and authority to enter into this Agreement and to assume and perform its obligations hereunder 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 under, 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. 11.4 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. 11.5 SELLER represents that there are no parties other than SELLER in possession of the Property or any portion of the Property as a lessee, except there is a month -to- monthtenant in possession of the Property. Seller shall timely notify Tenant to vacate the Property and Tenant shall vacate Property prior to closing. 11.6 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. 11.7 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. 11.8 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 00346171 -1 Rosebud — 121 NE Th Ave PURCHASE AGREEMENT Page 8 of 13 Transportation, and/or any other state or local governmental agency now or hereafter authorized to regulate materials and substances in the environment (collectively "Governmental Authority(ies) "). 11.9 SELLER represents to CRA that the Land is not subject to any deed restrictions or declaration of restrictions running with the Land which would affect the use of the Land and all title matters to which SELLER's property is subject to is set forth on Exhibit " " 11.10 Between the date of this Agreement and the date of closing, SELLER will not file any application for a change of the present zoning classification of the Land. 11.11 Authority. The execution and delivery of this Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER in accordance with its terms. The person executing this Agreement on behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this Agreement represents a valid and binding obligation of SELLER. 11.12 Title. SELLER is and will be on the Closing Date, the owner of valid, good, marketable and insurable fee simple title to the Property, free and clear of all liens, encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances of record which will be discharged at Closing). 11.13 Additional Warranties and Representations of SELLER. As a material inducement to CRA entering into this Agreement, SELLER, to the best of SELLER'S information and belief, hereby represents and warrants the following: 11.13.1 There are no pending applications, permits, petitions, contracts, approvals, or other proceedings with any governmental or quasi - governmental authority, including but not limited to, CRA, municipalities, counties, districts, utilities, and/or federal or state agencies, concerning the use or operation of, or title to the Property or any portion thereof and SELLER has not granted or is not obligated to grant any interest in the Property to any of the foregoing entities. 11.13.2 There are no facts believed by SELLER to be material to the use, condition and operation of the Property in the manner that it has been used or operated, which it has not disclosed to CRA herein, including but not limited to unrecorded instruments or defects in the condition of the Property which will impair the use or operation of the Property in any manner. 11. 13.3 To the best of SELLER'S knowledge, the Property and the use and operation thereof are in compliance with all applicable county and governmental laws, ordinances, regulations, licenses, permits and authorizations, including, without limitation, applicable zoning and environmental laws and regulations. 12. DEFAULT. 12.1. CRA's Default. In the event that this transaction fails to close due to a wrongful refusal to close or default on the part of CRA, subject to the provisions of Paragraph 12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow 00346171 -1 Rosebud —121 NE 4 Ave PURCHASE AGREEMENT Page 9 of 13 Agent to SELLER as agreed liquidated damages and, thereafter, neither CRA nor SELLER shall have any further obligation or liabilities under this Agreement, except for those expressly provided to survive the termination of this Agreement; provided, however, that CRA shall also be responsible for the removal of any liens asserted against the Property by persons claiming by, through or under CRA, but not otherwise. CRA and SELLER acknowledge that if CRA defaults, SELLER will suffer damages in an amount which cannot be ascertained with reasonable certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent most closely approximates the amount necessary to compensate SELLER. CRA and SELLER agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture provision. 12.2. Seller's Default. in the event that SELLER shall fail to fully and timely perform any of its obligations or covenants hereunder or if any of SELLER'S representations are untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement, CRA may, at its option: (1) declare SELLER in default under this Agreement by notice delivered to SELLER, in which event CRA may terminate this Agreement and demand that the Deposit be returned, including all interest thereon if any, in accordance with Section 3 and neither Party shall have any further rights hereunder, or (2) seek specific performance of this Agreement, without waiving any action for damages. 12.3. Notice of Default. Prior to declaring a default and exercising the remedies described herein, the non- defaulting Party shall issue a notice of default to the defaulting Party describing the event or condition of default in sufficient detail to enable a reasonable person to determine the action necessary to cure the default. The defaulting Party shall have fifteen (15) days from delivery of the notice during which to cure the default, provided, however, that as to a failure to close, the cure period shall only be three (3) Business Days from the delivery of notice. Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld. If the default has not been cured within the aforesaid period, the non - defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions of this Section 12 shall survive the termination of this Agreement. 13. NOTICES. All notices required in this Agreement must be in writing and shall be considered delivered when received by certified mail, return receipt requested, or personal delivery to the following addresses: If to Seller: Name: Edward Mullen Rosebud House, LLC Address: 4371 Northlake Blvd. #195 City, State, Zip: Palm Beach Gardens, FL 33410 Telephone: 561 -290 -0400 X101 Email: emullen @jatemcapital.com With Copy to: Nan Bolz, Esq. 00346171 -1 Rosebud — 121 NE 4t Ave PURCHASE AGREEMENT Page 10 of 13 5 Harvard Circle, Suite 100 West Palm Beach, FL 33409 561- 686 -4800 Ext 2102 nanbolz @horizontitle.net If to Buyer: Vivian Brooks, Executive Director Boynton Beach Community Redevelopment Agency 710 N. Federal Highway Boynton Beach, FL 33435 With a copy to: Kenneth Spillias Lewis, Longman & Walker, PA CRA Attorney 515 North Flagler Drive Suite 1500 West Palm Beach, FL 33401 14. BINDING OBLIGATIONIASSIGNMENT. The terms and conditions of this Agreement are hereby made binding on, and shall inure to the benefit of, the successors and permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement without the prior written consent of CRA, which shall not be unreasonably withheld. CRA shall have the right to assign this Agreement to the City of Boynton Beach (the "City ") without the prior consent of SELLER and the CRA shall be released from any further obligations and liabilities under this Agreement. The CRA may not assign this Agreement to any other parry without the prior written approval of SELLER, which shall not unreasonably withheld. If CRA has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are in effect, the provisions of section 163.357(1), Florida Statutes, (as it may be amended from time to time), shall apply. 15. BROKER FEES The SELLER and BUYER hereby state that they have not dealt with a real estate broker in connection with the transaction contemplated by this Agreement and are not liable for a sales commission. SELLER shall indemnify, defend and hold harmless the CRA from and against any and all claims, losses, damages, costs or expenses (including, without limitation, attorney's fees) of any kind or character arising out of or resulting from any agreement, arrangement or understanding alleged to have been made by SELLER on its behalf with any broker or finder in connection with this Agreement. The provisions of this Section shall survive Closing or termination of this Agreement. 16. ENVIRONMENTAL CONDITIONS. 16.1. For purposes of this Agreement, pollutant ( "Pollutant ") shall mean any hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant, petroleum, petroleum product or petroleum by- product as defined or regulated by environmental laws. Disposal ( "Disposal ") shall mean the release, storage, use, handling, discharge, or disposal of such Pollutants. Environmental laws ( "Environmental Laws ") shall mean any applicable federal, state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions. 00346171.1 Rosebud —121 NE V Ave PURCHASE AGREEMENT Page 11 of 13 16.1.1 As a material inducement to CRA entering into this Agreement, SELLER hereby warrants and represents the following, as applicable: (1) That SELLER and occupants of the Property have obtained and are in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or contiguous property owned by SELLER, to the best of SELLER'S knowledge. (2) SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the Property. SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices on contiguous property that is owned by SELLER which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant affecting the SELLER'S property. (3) There is no civil, criminal or administrative action, suit, claim, demand, investigation or notice of violation pending or, to the best of that entity's knowledge, threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the Property, any portion thereof, or on any contiguous property owned by SELLER. 17. PUBLIC RECORDS. CRA is a public agency subject to Chapter 119, Florida Statutes. The SELLER is hereby notified that the PURCHASER is required by law, pursuant to Chapter 119, to maintain and disclose upon request all records deemed public under the statute including this Agreement and some or all of the documents necessary to consummate the transaction set forth herein. To the extent that any litigation should be instituted by SELLER, either directly or as a third party, to prevent or prohibit PURCHASER from disclosing or providing documents involving this Agreement or the transaction set forth in the Agreement pursuant to a public records request submitted under Chapter 119, SELLER agrees that PURCHASER may either: 1) defend the claim up to and including final judgment, or 2) interplead the challenged documents into the court. In either event, SELLER agrees to pay PURCHASER'S reasonable attorneys' fees and costs, both trial and appellate. 18. MISCELLANEOUS. 18.1. General. This Agreement, and any amendment hereto, may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall, together, constitute one and the same instrument. The section and paragraph headings herein contained are for the purposes of identification only and shall not be considered in construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire Section, unless otherwise specified. No modification or amendment of this Agreement shall be of any force or effect unless in writing executed by the 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 00346171 -3 Rosebud —121 NE 4 I Ave PURCHASE AGREEMENT Page 12 of 13 District Court for the Southern District of Florida. 18.2. Computation of Time. Any reference herein to time periods which are not measured in Business Days and which are less than six (6) days, shall exclude Saturdays, Sundays and legal holidays in the computation thereof. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. on the next full Business Day. Time is of the essence in the performance of all obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the calculation thereof. 18.3. Waiver. Neither the failure of a party to insist upon a strict performance of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance of any item by a parry with knowledge of a breach of this Agreement by the other party in the performance of their respective obligations hereunder, shall be deemed a waiver of any rights or remedies that a party may have or a waiver of any subsequent breach or default in any of such terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination of this Agreement and the Closing. 18.4. Construction of Agreement. The Parties to this Agreement, through counsel, have participated freely in the negotiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the Parties. As used in this Agreement, or any amendment hereto, the masculine shall include the feminine, the singular shall include the plural, and the plural shall include the singular, as the context may require. Provisions of this Agreement that expressly provide that they survive the Closing shall not merge into the Deed. 18.5. Severability. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The provisions of this Section shall apply to any amendment of this Agreement. 18.6 Handwritten Provisions Handwritten provisions inserted in this Agreement and initialed by CRA and SELLER shall control all printed provisions in conflict therewith. 18.7 Waiver of Jury Trial As an inducement to CRA agreeing to enter into this Agreement, CRA and SELLER hereby waive trial by jury in any action or proceeding brought by either party against the other party pertaining to any matter whatsoever arising out of or in any way connected with this Agreement. 18.8. Attorneys Fees and Costs Should it be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable attorneys' fees and costs, including those at the appellate level, shall be awarded to the prevailing parry. 18.9 Binding Authority Each party hereby represents and warrants to the other that each person executing this Agreement on behalf of the CRA and SELLER has full right and 00345171 -1 Rosebud — 121 NE 41h Ave PURCHASE AGREEMENT Page 13 of 13 lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 18.10 Recording This Agreement may be recorded in the Public Records of Palm Beach County, Florida. 18.11 Survival The covenants, warranties, representations, indemnities and undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and recording of the SELLER'S Property Deed and CRA's possession of the Property. 18.12 SELLER Attorneys' Fees and Costs SELLER acknowledges and agrees that SELLER shall be responsible for its own attomeys' fees and all costs, if any, incurred by SELLER in connection with the transaction contemplated by this Agreement. 19. Seller may remove all appliances, cabinetry and fixtures from the Property prior to closing but no sooner than ten days prior to closing. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective date. BOYNTON BEACH COMMUNITY REDEVELOPMENT ROSEBUD HOUSE, LLC AGENCY Y• Print Name. Jerry Taylor Print Name: Edward Mullen Title: Chair Date: Date: 6/3/14 Witnesses: Witnesses: ! Witnesses: Witnesses: SELLER .. <<<<<<<<...... Print Name: w, Date: Witnesses: Witnesses: Approved as to form: 00346171 -1 Rosebud — 121 NE 4 th Ave PURCHASE AGREEMENT Page 14 of 13 Kenneth G. Spillias, Esquire 00346171.1 Rosebud — 121 NE 4 1 h Ave \tt i S 4� t ' BOYNTON' } i4 t f t ti ell �ty 4 t, , �'J c„4< t A C P¢ -,RA CRA BOARD MEETING OF June 10, 2014 Consent Agenda I I Old Business + X r New Business Public H earing ter ,SUBJECT: Consideration of Waiver and Approval of Commercial Facade Improvement Grant Application Submitted by the Boynton Woman's Club SUMMARY The Boynton Woman's Club has submitted an application and request for a waiver to the CRA's Commercial Facade Improvement Grant. The Boynton Woman's Club is planning to replace three sets of deteriorating French doors for a total project cost of $29,448. Under current Commercial Facade Improvement Grant guidelines, Board approved grant money is to be reimbursed to the grant recipient once the entire project is completed and all permits are finalized by the City of Boynton Beach. The Boynton Woman's Club is requesting a waiver to this guideline and is requesting that they may submit for reimbursement payment in two phases. The contractor is proposing to remove and replace two sets of doors as the first phase and then the remaining third set of doors as the second phase. Once the first two sets of French doors are installed and have passed all necessary City inspections, the Woman's Club will present their request for grant reimbursement of 50% matching funds for the completion of the first phase. Likewise, when the installation of the third set of doors is completed and all necessary City permits have been finalized, they will submit a request for reimbursement of 50% matching funds. Total grant funding shall not exceed $15,000.00. FISCAL IMPACT Project Fund line item: 02 -58400 not to exceed $15,000 CRA PLAN, PROGRAM OR PROJECT CRA Economic Development Plan, CRA Redevelopment plan RECOMMENDATIONS: Approve the requested waiver and the Commercial Facade Improvement Grant application up to $15,000.00 to the Boynton Woman's Club for the property located at 1010 S. Federal Highway, Boynton Beach, FL. Michael Simon Assistant Director F WOMAN CLUB 1010 S. Federal i y E P.O. Box Boynton e c , FL 33 � � Phone: 561 - 369 -2360 Fax: 561 -369 -8745 kas a -mull: bwC1909a*be1Jsouth.net website: www.boyntonwom Addison Mianer Building, 1925 -1925 National Register oTHistoric Places, 1979 May 23, 2014 M s. Vivian Brooks, Executive Director Boynton Beach CRA 710 North Federal Highway Boynton Beach, Florida 33435 Dear Ms, Brooks: The Boynton Woman's Club is pleased to submit out application for ftmding under the Commercial Fa a e Imp rovement Grant Program. For several years, the Club has been unable to devote our very limited resources to the preservation of this very important build` s grant will ive s the opportun g pp ° ty to begin to address a major win dow and door restoration throughout the building. We will be concentrating on those doors that are most deteriorated and are in the condition that threatens er damage to the interior of the building. We will be utilizing the fidl $15,000 with an equal match from e Club. If funded, we will be contracting with Rielly Construction to deliver a turnkey project, his scope of work and timetable for the project are included within this package. The project will be phased with o door openings completed simultaneously and the third to be sequenced after the two are installed. If it is at all possible, we are requesting exception to your reimbursement procedures that would enable us to be reimbursed in two phases: after the completion and inspection of the first two doors an th en at the completion of the entire project. As you can see, the full cost will . put a serious strain on our capital reserves and y consideration you could give us would be greatly appreciated. Sincerely, a s Patricia Waldron, Co-chairman Barbara Wineerg, Co-chairman Bo y n ton Woman's Club Preservation Committee RECEWED TOM Y B OY N. 6 �.. Y B EACH . ' October f — September 1 Community COMMERCIAL FA( ;ADE IMPROVEMENT GRANT PROGRAM Boynton Beach Maximum r nt Amount is , (Please Print or Type Only - Use Additional Sheets If Necessary) Program Rules & Requirements The Commercial Fagade improvement Grant Program is i n to r vi financial incentive to he lp facilitate the ext ri r improvement of ex is ting commercial propert ri in the i tri Commercial property within the i trio may quali e for up to 1, of funding for approved exterior improvement ro) ct . The , r nt is tc i rei mbursable gr rat providing commercial rc r& owners/tenants *ffi a more visually appeaNling property. 1. PROGRAM RULES The following rules are intended to inform of nti l g rant app licant of tha extent a nd scope o the r . The ur se of the rc r is to nc ur commercial pmperty owners to upg rade their properldes by improving the xt rnal a ppearance of their business and to encourage busine to invest in the operafions. Theresult will haft deterioration, stabilize property values, i rove and upgrade r c of the area, a facilitate and encourage redevelopment ctivi in the target area. The following rules are applicable to this r r . 1. The program is v ile I only for property located ithin the i trict Note- . See attached istri t Map. 2. Facade improveme mus be consistent it the 's Design Guidelines. Note: CRA Design G uidelines are v it hl on the CRA webs s .cash ,[ton. corn A ll proposed exterior improvements usi t be approved by the CRA ® The CRA Board ti r exterior improvements the CRA Design i lin . 3. The program is for commercial properties and businesses only. Residentially zonad propertie a re NOT elig ible (this includes multi- family units, apartment buildings and duplexes). The property owner must be the lic rat. H owever, if the y is currently [eased to a tenant, then the li tion a Agreeme m ust be jointly ex cut y both the er and the tenant. In ti r Page I of 7 101 W-orffi Federal 11 y, Boynton Reach, FL 3343 -phone 561-737-325 6 561- 737 -M39 4. Eligible improvements for this program include: Painting Shutters Awnings/canopies Decorative exterior fagade imp ve e nts * Exterior doors Ay"no ws ® Landscaping around the building * irrigation * Parking lot re-paving, re-sealing, re-striping a E)derW lighting Patio or docks connected to the building Exterior wall repairs (e.g. stucco, brick or wood repairs and replacement) ADA improvements Signage Fencing (excluding. chain link, barbed %Wra, and wood panels) Demolition of structure and (re)sodding of vacant property 5. All work must be done in compliance with applicable City of Boynton Beach Building E — odes and Land Development Regulations. Aff contra ors mu be MLI M It Hcensed in Boynton Beach/PaIrn 8020h County. Please contact the City of Boynton Beach Development Department regarding the proposed work to be performed prior to submitting a fagade grant application. 6. Maximum Grant amounts: The CRA will provide, Qn a raimbyrsement basis, matching grant for eligible fagade improvements up to a total of fifteen thousand dollars ($16,000) of CRA funds. 7. Grant will be reimbursed exclus3vely 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 beeri ' approved by the CRA Board. Any work completed prior to receiving grant approval is ineligible for reimbursement. a. The Commercial Fagade Improvement Grant Program may only be used one time in any five year period for any one property. Properties may reapply for additional grants any time after five (5) years from previous grant approval. 9. The property owner, or tenant if applicable. must complete the fagade improvement project and submit for reimbursement within 120 days of the grant award. Failure to complete the fagade improvements in a timely manner will result in the property owner, or tenant if applicable, losing the grant reirribursement opportunity. Only one 30 day administrative extension will be permitted. Inifials Page 2 of 7 710 No Feda-W Highway, Boyntm Reach, FL 33435 —Phnna 5 1-737-3256F - 37-3 6 8-X 561 7 258 11. APPLICATION PROCESS 1. An applicant seeking a project grant may secure an applHeation from the Boynton Seach Community Redevelopment Agency (CRA) located at 710 North Federal Highway, Boynton Beach, FL 33435, phone 561-737-3256 or download the application from www.catchboynton.com 2. An original application with all materials is to be returned to the Boynton each Community Redevelopment Agency for review and approvai 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 submMed apphcation is properly time stamped to document receipt by the CRA. 3. CRA staff will present the completed grant application tot CRA Board for their revle and approval. The CRA Board conducts their meetings on the second Tuesday of each month. Applicant will be notified of the date and time their application will be presented to the CRA Board. Applicant is requested to attend the CRA Board Meeting in order to answer any questions the CRA Board may have ragarcidng tWr application. CRA. staff wiff note Y the applicant of grant approval or den W. 4. The CRA will administer the Commercial Fwade Improvement Grant Program and funding. M addition to the appropriate City of Boynton Beach building inspections, the CRA wigH inspect the vmrk to detarmine the satisfactory completion of the work. 5. AppJicants may not have any outstanding CAy of Boynton each kns against their property. In the event that an Applicanth s an outstanding City of Boynton Beach lien against qhe property, the grant will not be awarded until the complete safislaclion of the lien. 6. Application to this Program is not a guarantee of funding. Funding is at the sole discretion of the CRA Board. III, REQUIRED APPLICATION DOCUMENTATION AND PROJECT INFORMATION A11,22olicable documents must be attached for the A ppIi on to be con 9". Loa 21 - t_ Written detailed description of the improvements to be done to the property, 2. W9 For (attached), 3. Copy of Warranty Deed, 4. Copy of Lease (it applicable), 5. Plans or sketches if applicable, 6- Site plan and plant list for landscape projects, 7. Third -party cost estimates frorn three (3) licensed contractors, 8. Estimated time fine, 9. Evidence of financial ability to pay for the project (approved loan, cash account, line of credit, etc.), Initials Page 3 of 7 710 No Federal Highway, Boynton Beach, FL 33435 —Phone 561-737-3256 Fax 561-737-3258 10. A minimum of four (4) Yx 5" color - beforem photos oft project which must include 'public views, 11. Signage design with colors & materials proposed if applicable, 12. Project color chips / material samples if applicable, and materiW specif catan s. IV. REIMBURSEMENT PROCESS AD! r ll opjy 2c hen the foll IQA2qurnents &urw owi i documen are submitted and aIL21h2E12gM1Md12p4ffl2p1AMjgg; 1 CRA has received copies of executed contracts, canceled checks (front and back) and proof that the work has been approved by the City of Boynton Beach Building Department. 2. CRA has received copies of final 8 paid in full" vendor/contractor invoices along with a letter from each vendor/contractor slating that all invoices for the project have been paid in full and/or a release of lien from each vendor/contractor stating there are no outstanding monies owed forte project. 3. GRA has received copies of final inspection approvals for all p t required work. 4. Entire scope of work for eligible items is completed. 5. Applicant provides "After' photos. SUBMITTING AN APPLICATION IS NOT A GUARANTEE OF FUNDING cvf the,,aDDIJcant(sJ to READ AND UNDERSTAND Improvement Grant PMgram and to corngly with Its conatqpt APPLICANT INFORMATION Name of Property Owner a 2-- Email Address: t- q o!J m ILL Address of Property - 1 FUVn.9& — U&Q LA - ZA D C) lbml % k City/State: Zip Code: Phone # Daya Q' Evening: Legal description of the property to be improved: — - - --------- - - — ---------- — ----- - --------------- — -- --------- Page 4 of 7 71 0 North Federal Highway, Boynton B=14 FL 33435 one 561-737-3256 Fax 5 6 1437-3259 (Property owner's signature must be notarized) (Z —W�d d)-5 — Witnegis (Date) Property Owner (Date) CAIWII 4t k &ibcg, 1' 4 &AQ ess () Property owner STATE OF _ COUNTY OF BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgements, personally appeared who is personally known to me or produced ManbMaAll" - identification, and acknowledged helshe executed the foregoing Agre for the useV 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 ahab % J, day of 20Aq, NOTARY PUBLIC pATRIC[AA.WALDRON My COMMISSION I FF OW70 My Commission Expires: Expjqs; Saptsmber 22, 2017 Booed Thru U0 NQ11rY SIM05 Page 6 of 7 710.North Federal Highway, BoynlonBcach, FL 33435 -Phone 561-737-3256 Fax 561-737-3258 AIDW ALL MEN BY TWE PRESENTS: That GEORGE H,. D.fJY1TTO.'rT,j AMVA PARMP, EDITH MIGHT and FRANCES PATTERSON, being heirs at law of Nathan S. Toynton, deoeased, and ALDERT E. PARKER, the husband ;of Anna Parker, parties of the first part, and THE BOYNTON MAN's CLUB a corpoi lon not for profit with Its prinaipal place of busi. ness at Wynton, Plori4a, party of the second part, have on this the day of Gq A, D, 1925, entered Into the follow- -ing contract and aagreement, binding theMBelVeS, it heirs, assigns, successors and legal rpproset tatires. in WEIRSAS the party of the second part is the owner in fee simple of that certain real estate in Palm Beach County, Florida, described as follom lots numter Five seven (7), of Parker Zatates a Subdivision of the Town of Boynton, and being a part of the south Rolf (Gj) of Northeast Quarter (NEJ) of Southeast marter (SMI), of 5 00tion Tmenty-eight (28), of Township Forty-five (45) South Range Forty-three (43) East, accord. ing to a plat on file in the offias of the Clork of the Circuit Court in and for the County of Palm 2aaah, State of Florida, And is desirous of erecting a '-Vomants Club building thereon that shall be ocaupied, used and rein ire for the Vuryoues as are usual for such buildings and as aze now provided in the Articles of In- corporation of said party of the second part, and j� 1 00=3 6 - the partlec of the first part rS40gnjS9 tho excellent p0lla spirit shown and banefloUX philanthropla work done by the pasty ol uc c000nd part and are deelrous of asawlsting In Suah phIlantbropla work and of being a serylat to t1io qommaity. TMUMMRS THESS ARTICUM OF AEG MM APES NWIMUD InTo Too WIT ThS parUes of the first part agree - ta oantribute. aM par avor to 'the Y%V*Y Of tbG secOud Pftrt fOV thQ 4006 and purposea and undsr the danditlons a$ hereinafter provided Th1rty llhouaan$ 9 (046 DOILaral th* said George M. Boynton contributIng ftrteen fhousand Dollarz, the said Albert 3, 1 oontrIbutiiig Plyp lhouesnl Dollars; the said Anna Parker contributing Rive Thouxan4 Dollar*& 4 IVIght oontributing Five Thou a&n4 Dollars and the sald Rranaen Patterson con tributlng FIVe Thousand Do.UArs; and the party 0 ths 860*n& part agrees to aaaept the gala money up the terms 'j X 4 and cond1tions hereinmfter set forth. A 4 nd SP fo-r tJW said bulldlng h&Y6 been prepared 'L7 Addison Mlzner as Arckbitcat and have been aeoepted JW thL , ,pArtiee hersto and are now in possession of the sold Addison V.1aner mid are InItialed by the partles hereto 1ndicating, thg1p appror&I of said plaux, The party of the seeond part agrees to bulld the said Itrailding according to s&ld plane and Bpealfl4atlonz and the parties of the, it part ahall pay out the may heroin agreed f or work, labor, material =d other necessary expense,& In and about saki build.* ing upon the cart1flost# of tj "rohiteat an and when the said I.C Architect may reify said work and labor , done,, services ren and, material furnished, during the oonstruotlon of said building, E%auld the money and con- tributed the partips of the f1ret part not be suffialent to oozaple the said buildIng aocordlng to the plans and OpeolfloatIons andto Fully pay for the same without any olaim,, demandp liene or ancumbrana Uliereon whatsoeveri the rarty of the second part agrees to raise suoh other and for thle purpose and to insure that said speelfloationsp free and ales The party of the G000nd part agrees that said sha2l be used and operated in aacordance with the present provisions of its Axtioles of Indorporation and no other purposes. IT S UNMERSTOOD AND AGPEM part oonsideratlon of this contract present Building ConmLittes of the nd part & R Franioes Stitte Urs. 13ertlua ". '11 sw , 1irs. A Meredith and x lbomasine ?, together with George it. Boynton,, shall be and Which of the letting of oontraots and mnaging of the loonstruotion of said 'building in so f,ar as it In usual for the owner of the building to so do and 3hall remain in aharge of the soon of the saki buildIng presenting the owner until thG 3 ams is fully Oompleted and pald for, exaept In oass of the disability of any member or members of the salid Clr. tIttee, the remalning members may fill the vaoan.. I' i P IT IS UMERSTOOD AGRMW that the building, shall be a memorial to MAjor Hathan Be imavm and party The t may at Its t transfar the aforesald property p on oondI tha other `sultable property b transfer or purchase ii funds realfted tho said property to listriat acoordance Ath the the do ij the the dog a to foreyer memori s aid Nathan S. Boyn ould the pa the t or it at amy t1me fail or refuze to t he sald ii :Jb ullding as a memorial t 1 �� w1th its t t then and In that Ij aforesald proporty 0 -r such OthOr Pre t ` _ pur- ' In lieu of and to i shall revert to and becow ths PrOPOrtY in f eG simple of the t .jof the the t the second t and . its successorel shall have no further ,i right, title t t in and to suah pro. i at, So long an said party of the earn t shall own said premloes It Is agreed that it shall not �- or enoumber the same exceeding an amount t.vmnty..fjVe E er 0e o f it t rMe covenan terms and provisione of this shall run w1th *is property and shall be enfri=e ale In lam- or equity by any one or more of said parties thG f irs ,.. art or their heir or as signs. the fi o rt recognize the the -L hr o' O erjef icial I I i2_A-n pic 'WOr-k e:-,-.e2.-'LQ' iii 3 P 4 fo assisting eecond pa-t an d afe desirous 0 dome I DY ;ae --�arty the ar d loeing a ser-rice tO tile Gcm in such y 2h '-'nt; r,:P AGP= = TH 4-0 I t r i o u+e an, d -: of , for the uses and pu second - pay az 0 140 mhousard if tY na f t - Th conditions - "a 01,)O.r �a-.;je said George R, 3oynton cant-ributing Fifteen L th e saj ark-z - 2e contrInuting ii re Thoumand contrilcuting 'Five " Doliaxs; the r s; and the said buting --,'ive -_qousand Dol�'-�- L said -3"dilt:l ive Thousand Dollars; and Van Party buting 7 5 t ac cen-t the said money upon the terms s econd - part a9zee '-n-a7-einaft se f 0 no for said 'ouilding liave been :?Ia-n-s and Spec i io "he by ,iddllaorl L'-i-- as -`LrOhiteat and have been a cce-otted by the said Addison jere and re a now 1-71 -sossession o.L 4,7ner initialed by t-he Pa-ties hereto indic-@.ting thei-e n d a=e y id e ana 7 e ?Lj t: second p agrees to build the said 1,- r t y 0 + j S - icattions and the parties d - and - out t-he money herein agreed for 'wOr- o f tlie f Ix 4 1 1 , a � j t a:m ja3. and other necessa- WZPenzes -in and about said build- 4 %A o f the said A� as and when the said ing -a-pon the ertific�a�e Architect may certify said work and labor has been done, services rendered and material furnished, during the construction of said building. Zh the mcney herein agreed to be said over and con- tributed by the parties o f toe first part not be sufficient to complete the sar b acco=dQ6 to the plans and specifications and to fu lay _:fir ��::e sa;n�e without any claim, demand, liens OX encumbrances tL2=won w the Vaity of the second Dart agrees t - Li 8 e suc. )0er und furtlei funds as may be necessary for this purpose and to insure tL sa ii suilding oil ! be comple'ted according to the plans and specifications, free and clear of all claims, demands, liens and en- cumbrances, T-le party of the second part agrees that said building - - ----------------------- I shail be used and operated in__ac_cc_rdance_ff.jth the present - P-rolrisions --------------- and no other PUXPOscs- of its Arlin !S UNDERSTCCD ATD AGREED and is a part of the conaidezotion o f thi con that the prezent Building Committee of We Party O:f the second part, to-wit, Mrs Rena V- ?"l l " 7ranoes Stitts, Hrz. E A. Williams, Hrs. Anna Neredith and lrs`a 'rho in lilicz, t with George H. "oynton, shall be and co nstitute the Committee which shall h full control of the letting of contracts and managino of the cons of said building in so f as it is usual for the owner of the building to so do and s h a il remain in charge o f the construction of the said buildin ns zelre sentinZ the cwnar until th same is fully completed and paid far, enca7t i cas o f the die aiiiity of any member or memhers of th e said �_"==iittee, the remaininZ members may fill the vacancy. IT T S = 1327D. AG-; = ,,a the bul -Ld i I �al M p �91 u-) a me- Boynton and sha:L:L be 30 Imown and d as Z' Enate e, e pa"t c at lts discretion sell 0- t to a -,Z z that other 37 nzorexty ze oj�- -d Oz -JIH�c- � � t-,,e salty 0 the said tO tl 4.' ac Coz. dan C e e =07151OMS of the A--rticlas of :Enco r n of 1;h-e and to f uzs= M�empr�lal to e o a : of the second paX+W or its successors a'. any tl�2- e 1Zc maintain and use the-said cul, 1 dino as e f =q 3oyntqn in and O� n t 'neQtp-0-ratio a en and in tha t th as may be jar- to the p-lace off _the aforesaid property to and Become tdLe pro of - a the f i-st ;)rt —.-.,e- ! - 4r and the party of the second part and i is successors a hall I f u- t he r z 1 t 4 tj e a , -gd-Antaxez, , --jn and to such pry S4 long as said ty of the second part shall own said �remisas it -163 agreed tha -it s2el-all n mortgage or enotxmber the same s:cceeding an amcu Went - per cent' of Oost to Value Mae Covenant's, and Prollisions of contxact Ithe pro-oer+y l Zma'Dle in I law or equity be &n:CQ- by any one or more 0- said -a-rties of the first - or their heirs 0-- assigns. iN 1 , -, oaT MIS S 1 ,TUI=XF the part4es of the first part have hereunto set theiz hands and seals and the party of the second wrt has caused these preaenta to be signed by its pz er officials and it Cory to sea to be attached hereto as its corporate act, all Sn the day and vay first above written. sinned, saalad and dalimzed in the gTesence of: IAN its to Geme 20yntom. A t " noa �azkez and lusband: A 'SEAL) As to With whight ylv"w y (SEAL) v ia to yrances Rattewan. 30YNTQN WOMN S CLILIUD (amy President, Attest: - 2 Tomants Club. As NO :oynton/7 seozetary. O 3efbre the undersigned, a notary public, personally came GEORM H. 3GYMN to me well known' to be the indIvIdual described in and iho evecuted the fbregOing instrument, and he did bef me that he ezecuter the same for the pur- pose therein Wizessed and asaed that It be recorded. 7 EIR E CT 1 haVe hereunto set my hand and officiul sea! this the day of D. 1925. — .. . . ............................ Notary Public TY commission expires 77- T TY unda-zigned, a 4 , 3 O t,, r3r Ubl,c 'personal.1y cc tO Me I -kcOwn to be the 'IndIvidual desczibed d e:cecuted egol 4 - - _ng natrumeW- 10el-Oze that ah-, w cared she did a cIMOW-le. dge s:ce la t'he 3azae for Z') ?Ze3-3ed :Lz' aa�',-2d th e TJU ose 'Ow e,-.,- be Zecorded. ry -,7.:, T.S; fill 0 4 1 have hereunto set my hand ff icla- 1 seai the da ,y o D. s. blic 00 =nISSIOn ezcpires ism 1-1 J, 1. COFTNTY �j- 3e f -gXe the undersigned, a Notary Publ,Lc, rDersozially 3 "So --T t O me Well knozn to be the Indirldual de- 'who ezecuted aciclow-ledge " t. t fOregOing Instrument and she did execUted the sa, fox the purp thez'ein em and as-red t�iat It be recorded. I haVe hellunto set 0 X I hand and "La- sea! a Y of A. D. .1925. lota�� Public �t �Publ�ic C ommission expIre C out the S Ed or F;u -ja 12 1.927 STATE OF COUNTY OF Before the undersigned, 2 rotary Public, personally came and his wife AMM P-uim to M-' well knDffa to be the individuals described in and -who executed the f 'Oregoi-n,g, instrument and they did acknowledge before me that they eX cuted the same for the puroose therein expressed and asked that it be recorded. And the said to me well knowr, to be the wife of said -W___.________ did acknowledge before ma separately and apart from her said husband that she executed said instruma.- .t freely and Voluntarily and without comoulsion, constraint, apprehension or fear of or from her said husband. 114 WITNESS WHEREOF I have hereunto set my hand and official seal this the ` y A. D. of Notar Public M7 commission expires -IN Fuwic tar ['), Q. -'J- E-XP;ra$ Au sx 11 200 Butler Strut.x Suite 217 Nest Pahn Beach, FL 33407 Ph, 5612616876 Fx. 561.741.4644 - 22-.14 Boynton Beach Women's Club 1010 US Federal Highway 1 Boynton Beach, FL Re: Boynton Beach en's Cl — Door Restoration Project Scope of Work Please see attached estimate summary for the door restoration work at Boynton Beach Women's Club. The estimate is shown on a per door basis and includes all work as we discussed on site yesterday, The work will be handled turnkey by my company contracted under the Boynton Beach Women's Club. With costs in the estimate as shown we will be able to restore three (3) of the openings under the budget cost of $30,000. My estimated time frame per door will be 35 days from removal to final installation. I would like to do two (2) door openings simultaneously and the third in sequence after as the two restored doors are installed. We can make the decision on which of the worst case scenario doors need restoring immediately. The total cost should be $29,448.00 for 3 out of the total 6 doors. Field Work • Remove doors and transom, secure opening and protect from elements. • Repairs to the thresholds damaged with wood rot • Remove existing threshold, clean sill bottom, apply appropriate sealer • Install or repair copper pan to the width of the doorway o Reinstall thresholds Remove all loose paint from outside door jambs, window frame and sash Repairs made to door frames at hinge locations to secure proper mounting of doors Caulk building interfaces with door jambs and transom window frame with polyurethane caulking on exterior Apply filler, conditioner, primer and new paint Install doors, transom, adjustable door bottoms and spring bronze weather stripping Doors will be hung on the original hinges and including existing hardware will be re- installed Spring bronze weather stripping, threshold Shop Work Build pair of 8 -lite French doors with adjustable door bottoms. Doors will be made of Spanish Cedar and will match the originals in profiles and configurations Doors will be primed, stop glazed with safety glass and finish painted m The cremone bolts, knobs and hinges will be cleaned and reused. * Restore S -lite transom. Transom will be repaired, primed, glazed and finish painted. * Transportation for door pickup and delivery to and from shop is included Please call me with questions. Thank you. Bill Rielly - LEE D A.P. President JELLY CONSTRUCT70N CORPORATION Certified General Contractor 200 Butler Strcet Suite 207 hI ~ West t 2h-t Bend, FL 33407 �I Ph 5651.262.6876 Ex. 561,741.4644 LINE ITEM U EP EBoymon eaCtr f Vcrner 'a Club - 2r d P 1nr Y a 7r Restc t`styn E Tt' f TE: C.:RhSI pae€ Cae r E2esitrratican LGG 'f IG eid slt "'M 512212014 H ENG: GSi LBdt#. TRADE PAC G Gl3 PEGGE T rG REMARKS EST1 � tpF Gf35T ITE9 ORK 0 t3T$LTIES T LAN DSCAPE f SrTE UGHTING 1 0113163 Eeujldin La taut 2 02 02035 DarimIitlon - Diea semhi $664 Door & Trans Rnrrosvaa 121 rd Remcwal Prefterman 2 02 0 22O Earthwork 1 G $O 62 0250 I�atln estd attrtacin $6 4 02 4260 _ bornestic "later t S er 1 Storm $0 5 [l2 02a I€r °r at can $0 6 020283 Fenorn $0 7 062 03?90 Lands�a I€€ $0 $ 133 4331 S1Ce mall $G _..®..� ITEti'T�3fi�9� TCS7 $E66 t5.C9fI`�laa tTE Gal DIV. TRADE PACKAGE 0 Win:; ERT G REMARKS ETt9��aY'E E OF GG T B UILDING 1 �v_ r. �_ 9 61 0000 Gertera"al Conditions $463 M=1e an up 11 011141 Testis $0 12 020280 Sail T €csalrrrent $0 13 030330 Concrete Work $4 14 04 0400 IAaazan $0 15 050510 Structural Steel 0' 16 050550 Miscellaneous Metals — $D - -- 1 7 7 06 0610 R !] � $644 ProteLmon of Opening - Elements 18 06 03620 Caea 'ayofidMill rk $616 Witwork Repsirs to trims t stops ! threshrods of openings 19 070720 Insultation $0 201 037 037;24 EFIS _ $01 21 070750 �0�cfar $0 22 070770 esof S ec alties $t3 _�. 23 070790 Wate rora n 1Car � $427 Tvrp spot and Final oua king of x a xf rmes 24 68 4810 Doom, Frames. and Hardware $4,318 Dais end Trransarn repses l restore 26 603 OB30 S' ac1al Closer l 6satrior Gales $0 20 UB 6B36r Over head and Collin Doors $D 28 080840 Stor efront 'm Window System $0 29 68 0846 utranraflC Entrance Doors $0 30 04 O920 StU000 $4 31 090925 InteriorlExter1or Frannin , fO all $0 32 64 000 A stica C _ $0 3 3 (79 096- s Resal Elocrr r f $t3 34 0913 990) F aintlri and Cf7 t6n S $1,642 Strip and Prep or existing frames � Paint 35 100000 GaenerM S ec stiles $0 365 101o8i.) Toilet A ssories $0 37 11 O000 E c! men! $0 Pdeasenose; Cornifirna unknown at this timeare not part aarth la 38 14 1400 Elevator $0 eshornte. Any damage or areal rot beynnd the above listed run 3t 15 1336 Fire Fir "otaCklon $is items WO ire coreurterad additional work and will need wnttan authorization iforn the Chrrner to Proceed as e Chsnrge Chder. 39 15 1540 1 1u€nlain $ Should any frame merneniners need to lr� reoravLd fuem the 400 15 5000 HVAC $0 studure openireir, ^n^e can not guarantee that the exisiting structure 41 1 G 0604 CIr Ifid a] $6 wT1[ t e adegreate k r tt r Fmt ing the stn - icfura i, not part of 2 16 1661 Site Ll hits $t) Plus rastsrnats and will be considered addakinar to mood. 43 171745 er /ContractorContin enc $0 4 17 1750 we my t eserue _ $O BUILDING SUBTOTAL $8,646 63.0!1" .00 45 der oral Liabslit Ins. $19l4 45 tBullrtersRisk $O 47 Tars and Fels $4 48 dDtre€he ad ra �. _ 49 on traction Fee $487 TG"T Gd,IEGT CC2GT $9,8°I�6 STATE OF FLORIDA DEpARIWNT OF BUSINESS AND PROFESSIONAL TO CONSTRU 7 -139 1940 NORTH MONROE STREET TALXaHASSEE FL 3 2 399 - 0783 CORP. RIELLY, WILLIAM THOMAS JR RIELLY CONSTRUCTION 200 BUTLER STREET SUITE 205 WEST PALM BEACH FL 3 S TATE of FL. OPJDA ACI Congratulations! With this license you become one of the nearly one million Floridians licensed by the Department of Business and Professional Regulation- REGULATI Our professionals and businesses range from architects to yacht brokers, from boxers to barbeque restaurants, and fty keep Florida's eco stron C 3. 10/0 . 4/12 12 70 254 Every day we work to improve the way we do business in order to serve you better. For information about our services, please log onto www.myfloridalleense.com. CERTIFIED GFXERAL CONTRACTOR.. T here you can find more information about our divisions and the regulations that impact you, subscribe to department newsletters and learn more about the RIELLY CONSTRUCTION Department's initiatives. Our mission at the Department is: License Efficiently, ulate Fairly. We constantly sbive to serve you better so that you can serve your customers. I S tjtxe i$i af ase Thank you for doing business in Florida, and congrEftlations on your new license! da te- 1 2PIA L 121004 . 9216 • 1:1 111, �. . FLOR STATE OF - BUSINESS AND PROFESSIONAL REGULATION UEPARTMENT OF .'CONSTR`UCTZ0N INDUSTRY LICENSING BOARD SEQN 121004029 61CMSE MR q _ ..: . date Expiration AUG 3 1, 2014 C O O ` 200 BUTLER'STREET SUITE 205 WRaT ..PALM REA FL . 33407 O O - C . O Palmeri Construction CompanY, Inc. 518 Gardenia Terrace 'Delray Beach, Florida 33444 I wlik_l 'Call faX I u.palmeri@sarthlnk-net DATE: April 10, 2014 TO: Mickey Kinley FROM: Lou Palmeri RE- Prelminay numbers for W oman , s Cl Windows and Doors p roposa l i f one double door and one window above Cut jamb bottoms an d remov existing threshold • Clean up sill bottom and ready for roofer to seat With appropriate sealer to stop leaks • install %" high co pper pan to width of doorway after roofer seals sill area Install ne,,A, d and threshold Remove all loose paint and scale from outside door jambs, window frame and sash Caulk door iambs, w i n dow frame and glass panes with polyurethane caulking to waterproof door unit Apply prime coat of Paint Total price for one unit $ 2460 t y i { 1 4z ass. } Ar f gip- lk _ C, s S'°?R7 i z g r qb t a acF'd� -,r" F my9 5 _.�_._._.... v � f , 3 _ a 3 I s i f f i Mickey ilea® The Gourmet o (. _,shuck 561-637-9663 Boynton Women's Club, Here is our plan of attack after considering some of the special circumstances involving your building. I would like to replace your doors using a three layer pressure treated system. This will look like original doors but will be 2 1/4" thick. This will be a stronger door, resistant to rot, and relatively stable. There is also considerable savings on cost. PT lumber is prone to warping and cracking over time, but my laminating system (glueing and screw fastening between layers) tends to minimize those problems. I have employed this system in the past. I also plan on using tempered 114" glass with genuine glazing on the exterior . The doors will be primed and ready for paint. I would like to keep the upper window. They may be leaking some but they seem fairly solid. So we would like to strip the loose paint, re-glaze the windows, and then prime the so they are ready for new paint. We will Caulk and fill any water problems on the existing framing. Any new framing work on the window is not included or anticipated. The whole idea is to maintain historicity but provide a waterproof, solid, and restored doorway. We will try to re -use the hinges but we think that the existing door handles and flush Its could be improved. We have not included any new hardware. Lou will be doing most of the on-site work it I concentrate on making the new doors and other opening parts. Lou has not included any permit costs. We suspect a permit may not even be needed in that we are restoring what is already there. Thank you for the opportunity of working with you. Mickey Kinley Tony Pedic 1010 S Federal Hwy, Boynton Beach, FL 33435 April 20, 2014 Description of Work Properly prepare, restore and paint exterior windows and doors. All work to be performed to PDCA standards, as well as strict adherence to manufactures specifications. Surfa - es Included,ScoDe of Work: All exterior windows and doors. FLSP to remove silicone sealants from surfaces specified for point. 1. Chemically clean as necessary to kill mildew /algae on all surfaces specified for paint. 2. Pressure clean exterior surfaces specified for paint to remove salts and loose material. 3. Apply one (1) coat oil based primer to all surfaces specified for paint. 4. Patch wood and apply rot -stop where applicable. 5. Caulk, glaze, putty and compound preparation service to acceptable quality finish. 5. Apply (2) full top coats water based wood enamel. Exclusions: Railings, doors, fencing, hurricane shutters, light fixtures, decking and walkways. Any additional coatings, preparation or repair work not specified above. Repair of corrective work to latent defect in substrate or specified surfaces. Customer responsibilities: 1. FLSP personal must have continuous access to work site. 2. Any disruption in contractor specified job sequencing will be considered a change order and additional charges may be applicable. . Will replace mutually determined rotted wood. All wood to be paint ready. FLSP responsibilities: 1. Upon completion of each days work, FLSP shall make work areas clean of tools and debris. 2. FLS Painting will provide you with complete paint specifications upon completion of the project. Est Cosy, Includes labor and materials 12,400 Terms: % Deposit on acceptance. (Votes: This contract is for work and materials as indicated. It does not include materials or labor for additional, customer - requested repairs or painting or any unforeseen corrective work or latent damage. Additional materials and labor will be re -bid or billed at an additional, agreed -upon rate. Sincerely, Frank Savasta This estimate is good for thirty days from date above. The above prices and specifications are hereby accepted. Customer Signature: Gate: FLS Painting Corp: Date: General Notes 1. If offered a contract or awarded the work, FLSP reserves the right to negotiate any contract clause in good faith. No credits or adjustments to the agreement sum apply unless mutually agreed by FLSP and Owner. Payment terms for additional work or changes are payable under the same terms and conditions as the original agreement. . If a permit or special access is required for the work, the Owner will pay any fees associated with same. If required, the Owner will secure permission to work on or over adjoining property at no cost to FLSP. 3. Our proposal is based on the use of quality brand materials. Quali _ Assurance 1. FLSP is competent, qualified and capable of timely completing this project. References and qualifications are available upon request. z. All national standards adopted as published by the Painting and Decorating Contractors of America are incorporated by reference into our proposal. 3. Safe and prompt execution of the work, with a minimum of inconvenience to occupants is an essential part of our service. Our field teams are qualified, competent workers who complete their work with courtesy and skill. 4. Deciding upon your painting company is an important decision. Choosing an unqualified or unsafe contractor can be a very costly mistake. FLSP offers a full complement of coatings services: painting, waterproofing, restoration, maintenance, and specialty coatings and finishes to name a few. Boynton Woman's Club ba rba ra w ineberg <w May 21, 2014 at 1 PM T o: TMLC49@yahoo.co M r. Walter Lug nko D ear Wait, Th ank you for your interest in submitting a proposal for the window and door restoration j t at the Boynton W om an's Club. U nfortunately, we did not receive your written quote in time to submit fbr grant fun but we li keep you on file for possible fut projects. Th ank you, Ba rbara ineber Com mete Restoration 'Fire o Insurance Claims o FCood - Re - NodeC Wind Damage �, New Construction Pdch (561) 71 I 2t # CRC 1329915 • Lic. & Ins. Fax (561) 792 -8471 € is i, 1 A { t y }l tttt � t i — 4,4 1 i i - f ` 1= I , s ii, pia t� I I ,. rt t i� �I if t �n s S+i is}t S � t,. a ev{ I!t1- it Rfi�-A�l m�rst6'Nr� � �.1 s i a � F r l n ui t 0 N 1 7{ "_ - Y IF" mmRE �`C" �. CRA BOARD MEETING OF: June 10, 2014 I C onsent Agenda I I O ld Business I X I New siness Public Hearing Other SUBJ ECT: Consideration of Approval of Revisions to HAP Short Sale Policy Guidelines SUMMARY: CRA legal counsel has suggested changes to the Homebuyer's Assistance Program (HAP) Short Sale Policy Guidelines. The purpose of the revision is to provide the CRA Board with the flexibility and discretion to refuse to release its mortgage in a short sale situation if it is deemed to be in the best interests of the Board and its constituents. The language as it presently exists could be read as being a binding requirement or commitment. See attached redline markup version. FISCAL ACT: NIA CRA PLAN, PROGRAM OR PROJECT: NIA RECOMMENDAT Approve the recommended changes to the HAP Short Sale Policy Guidelines. Michael Simon Assistant Director BOYNTO t"T1 5 wv& , Boynton Beach Community Redevelopment Agency Homebuyer Assistance Grant Program Short Sale Polity & Guidelines The CRA Board has approved the Homebuyers Grant Assistance Program Guidelines, Application and Agreement which requires the CRA encumber, by way of a thirty (30) year second or third mortgage, all single family residential property assisted with grant funding. If the homebuyer sells the property or loses the property as a result first mortgage lender foreclosure, the entire amount of the grant becomes due and payable to the Boynton Beach CRA. When a CRA homebuyer grant recipient becomes financially distressed and can no longer afford to pay their first mortgage, a Short Sale Neill— may be authorized and approved by the CRA Board based on the following criteria: 1. The first mortgage lender has begun the pre - foreclosure process on the property. 2. The first mortgage lender has approved a sale and purchase contract and market valuation for the property. 3. The first mortgage lender must agree to repay the Boynton Beach CRA $4,000 or eight (8) percent of the remaining balance of the grant, whichever is less. 4. The homeowner cannot sell the property to a relative. 5. The homeowner shall not receive any money from the Short Sale transaction. 6. The Boynton Beach CRA must review and approve the HUD -1 Settlement Statement prior to the Short Sale closing. 7. Upon receipt of the Short Sale repayment, the Boynton Beach CRA shall waive all rights to file future judgments for deficiency against the homeowner. 8. Upon receipt of the Short Sale repayment, Boynton Beach CRA shall deem the grant satisfied in full and a Satisfaction of Mortgage document approved by the CRA Board attorney shall be executed. Homeowners assisted under the terms of the Boynton Beach CRA's Short Sale Policies are restricted from applying to the Boynton Beach CRA for grant funding for any of the agencies housing assistance programs for a period of seven (7) years. a Formatted: Indent: Left: 0.5 ", No bullets or numbering 00347761 -1 - 111 Formatted. No bullets or numbering AVhiie thie C' w0_11 �� look 1- �yvorab."'v st "o- llorizzai '01 "ll a - ,, wxi ...................... . a a cf a Shorl Sak" the entena am� sat-,`�,;Fved- -h &. .......... yy vi j n -tlhe elisc of �, (TU'\. Bcmrd and ;";e Wilffific�d Or -Ien�ed ................... . ............................................................... bv T' I k 9 deenned U - 1 ioan"'l 'o be in the best iialeres,',s, of _RA .- .r i�s ............... 00147761 1 WOMB EACH IiCRA CRA BOARD MEETING : June 10, 2014 i I Consent Agenda I I Old Business IX ( New Business I I Public Hearing I I In Only SUBJECT: Consideration of Approval for The Bride of Christ Tabernacle Church's Request for Temporary Use of CRA Lots for Parking SUMMARY: CRA staff received a written request from the Bride of Christ Tabernacle Church for the temporary use of two CRA owned lots for church service parking during the construction of their new church facility (see Attachment I). The two CRA lots are located on NE 11 Avenue and NE 10 Avenue and are adjacent to the church located at 202 NE 11 th Avenue (see map as Attachment II). The church has requested use of the lots from approximately July 15, 2014 through the completion of construction, approximately January, 2015. The CRA lots will be used for church service parking on Tuesday & Thursday 7:30pm — 9:30pm and Sundays 8:00 10:00am & 7:30pm — 9:30pm as outlined in Attachment 1. The church has agreed to maintain the lots and provide proper liability insurance for the duration of their use of the lots. FISCAL ACT: NIA RECOMMENDATIONS: Approve The Bride of Christ Tabernacle Church's request for the use of CRA owned lots for church service parking as long as all conditions outline in Attachment I are met. r Michael Simon Assistant Director ATTACHMENT I MAY 21, 2014 MAILED CERTIFIED AND REGULAR MAIL TO: BOYNTON BEACH CRA BOARD- AT TN: VIVIAN BROOKS, EXEC. DIRECTOR FRM: BRIDE OF CHRIST TABERNACLE CHURCH 202 N.E. 11 TH AVENUE, BOYNTON BEACH, FL. 33435 3 110 PARCEL 08-43-45-21-22-003-0070 RE; PERMISSION TO USE CONTIGUOUS LOTS OWNED BY THE CRA DURING CONSTRUCTION OF OUR NEW CHURCH. The Bride of Christ Tabernacle Church is very pleased to begin construction of our new church, after enduring 25 years with our old buildings! The church located at above address, is requesting that CRA grant us permission to use their two contiguous lots for temporary parking during the six month construction period. Parcels 08434521250010040 and Parcel 08434521240000010 Construction to begin in approximately two months after the filing of our permit, The church will occupy the present buildings during this time and will move to the new building upon certificate of occupancy and will demolish the old church and the office building at that time. We are very grateful for the assistance that Michael Simon, Asst. Director has provided us in order to begin this process and we hope to get on the June Review. We agree to maintain the lots, to use valet parking and to insure the use of said lots under our present insurance as well as our construction insurance that will be required. A written confirmation from the insurance companies will be provided. The to for construction is estimated- JULY 15, 2014 to January 15, 2015. THEHOURSOFUSE: FOR FOUR SERVICES PER E. TUESDAY AND THURSDAYS: SUNDAY. 8:00AM TO 10:00 AM HOURS 7:30 TO 9 :30 EVE: 7 :30 TO 9 :30 THANKYOU KINDLY FOR YOUR CONSIDERATION, CLAUDE MAXIME, DIRECTOR, BRIDE OF CHRIST TABERNACLE CHURCH. CONTACT PHONE: 561-305-8981 V. A, PROJECT MGR, 561-929-9564 RECEIVED MAY 22 20 BOYNTON BEACH CRA ATTACHMENT 11 � l�" ,,ASS ±'�� ,�� is I � a il, l: +€ � � � �. err . k ; � y a ;y I (((t s I Al a 1 u + i { 'j i4tt� � ve' a m 1 n,. 9 a , fi �� '` N, f3 l" �1 l ! I $ t "t i v" Jig 104 ry 11% Ave I i t 1 i s p, v ma i I r 4, r Y � PRO if at �' s, t F z 2 t PC WA s itlf.i � P Q Ila a , t k EVE s � ,j i, S` =! i115har�'�frf�ssl7,K�st�i��u� u� atadsssj��st`YtSS st i � \r �h ass � s . s r firs 4 �, �,� -.... �; y �� f ��i�(a �s�zl�� F�� i � t�s � i, .i�� ;, , �� r• r} s 1 ii i s avS fi }„ s to-,s 1 � 1 ,JS (}'1, `tr��i� s �� `•ks �a�r t�i�»1 siI i�� f ` l � I� 4 VIA m ) }5 ��5 1 t +s �1 i� s{t��Sf,ttl c� f s sri) 1 i 3�'�'} t i , s1 `;r � r ;'s j�l'�ti �sfft } isll F I -: ar;•` =, ��,� i OM t � , i (s sf11i v ti� s s nyi i if, i ist ��( Sli Si }� tla �� is MIt� IV sk '4 -< t of I d iGU M oog A 60035 0007 3pi4reri W& F n n eur c A spa ry n.e a_... d 4 I4f ur ' TIN T ;- G I - f I iii Avg cz f I P�� I IU�1P5� 4 ` F r LS to I � - l R . <� 4 a I f I 1 4�a1 ��`�f` Flttnw 1! I F t' br•6, i, Y I W ' �( I 4 7F l� F 1 ! Y ' 11147h u 1 ! , , -,d OF l? } S !t sot ;y z a1 S C<4 : �`t mi . IH is I TNr t I1 I� I t \sI I I I I II I i y s s" 4 I I 4 I 110 a s mfg a s a= oi l r �' A �I , y il° 4. uh !f y � " A '1p t I M111 !4 1p l �ll awl v . � �! I� N s` ..�� .� r' �� a I& Iu n {E�14 ��'�a� p, � r� �,� d!?»; �� i�a Ir f'iP It •.� _ v AT 1 4 k� a ? e` la I o 4 coo t ! ap r L 4� Y W W 'N � ii I iF k, `,, �tm: a . 6 J 084345 /1 r3 f5,00:§5 000 0014mi (} by 390 0 /1 aJ 1, � lli safe "rit f�ti� '� +iits t A r T ONX, BE ACH CRA BOARD MEETING OF** June 10, 2014 Consent Agenda I I Old Business I X I New Business Public ][fearing I I Other Catch Yourself in Boynton Beach Website Launch www.CatchBoynton.com SUMMARY: As part of the on -going brand development efforts, a branding website and a tagline Catch Yourself in Boynton Beach will be launched on June 10 2014 to replace the current CRA website and the Boynton Harbor Marina website. This branding project balances the City's fishing tradition with its new colorful friendly outlook to attract a younger demographic to Downtown Boynton Beach while increasing public awareness for the business district. CRA staff worked closely with Dg Communications to create this customized site to effectively promote Downtown Boynton Beach and the Boynton Harbor Marina on one central location to maximize viewership. This social media tool is user friendly allowing staff to manage and maintain their departments to ensure the information remains current. The clean modern design allows the public to navigate easily through the website to keep residents, visitors and stakeholders informed of what's going on in downtown Boynton Beach. FISCAL ACT: $16,400.00 PROJECT CRA PLAN, PROGRAM OR Marketing T acy Smith o fey Business Development & Marketing r B OY N TO IN" CRA BOARD MEETING OF: June 10, 2014 I Consent Agenda I I Old Business New Business Legal I X I Other SUBJECT: New Businesses in the CRA District SUMMARY: The CPA district welcomes 2 new businesses to the area. Staff will reach out to the new businesses and introduce the grant incentive programs and marketing efforts. 1. Alexis Knight Architect Inc.- 100 NE 6th St. Suite 102 2. WPBR- 2755 S Federal Hwy. FISCAL IMPACT: NIA CRA PLAN, PROGRAM OR PROJECT: Business Development Program r Tray Smith Cvffdy Marketing &Business Development C:\ Users \smith- coffeytlDocuments \New Businesses Agenda Item June.docx B Tolq O,YN i CRIA BOARD MEETING OF.- RA June 10, 201L4 Consent Agenda I I Old Business I New Business Legal I X Information Omy SUBJECT: Development Projects Update 500 Ocean (SE Corner of Ocean /Federal) — The project was presented at the P & D Board and was passed unanimously. The CRA Director was present at the meeting to speak on behalf of the project. CRA staff met with LeCesse representatives to discuss the potential for TIF funding for the project. Staff is waiting for additional financial documentation from the developer to determine the financial funding gap of the project. Family Dollar (MLK/Seacrest — Boos Development will have their Development Review Team meeting on June 1 01n. From that point the project will go to the P & D Board for approval and then on to the City Commission. National Full Service Grocery Store — One lot is on the agenda for purchase that would be within the area of a grocery store location. CRA staff had a meeting with a grocery store developer on June Stn Mixed-Use r i t — CRA staff has a meeting to discuss potential sites. Ocean Breeze East — RFQ /RFP issued. CRA staff held a pre - submittal meeting on May 28 Four developers were present for the meeting. Casa del Mar (2632 N. Federal Highway) — This 4.5 acre waterfront site is under contract for residential development. A preapplication meeting was held on April 2 nd with the purchaser's representative. Former Denny's Site/ 2201 S. Federal Hwy. — Contractor looking to buy and redevelop into office space and retail. City passed the code lien reduction program which will allow the purchaser to close on the property and renovate it. Healing Heart 1220 -226 W. Boynton Beach Blvd. — A 4,000 sq. ft. new veterinary clinic and holistic spa for people. Proposed to be completed by the end of 2014. Seaview Park Club -1630 N. Federal Hwy. — 1 acre site purchased by Olin to add to adjacent Manatee Bay Apartments. Construction is 80% complete. Ocean Breeze — The project is complete. Vivian rooks Executive Director T:tiAGENDAS, CONSENT AGENDAS, MONTHLY REPO RTSZomp leted Agenda Item Request Forms by Meeting\FY 2013 - 2014 Board Meetings\June 20141Development Project Update.doc ,' r Experience We have assembled a team with a broad scope of experience " �' '"'- ' from development to property management to finance. We also have �r in -house counsel to provide prompt, cost - effective legal advice on 1 i f documents, due diligence and compliance matters. � ' '1`'` �} Due Diligence Many investors rely almost exclusively on us to coordinate i the due diligence process. Due diligence begins with an extensive I underwriting analysis in order to evaluate the economic feasibility Families the proposed project, and includes a comprehensive tax credit I compliance review. A perfect storm of Asset Management Just as vital to a successful tax credit investment growing need and rising is post - completion asset management to monitor a property's ongoing . costs has led to a critical financial performance and tax credit compliance. Our Asset Management shortage of affordable team reviews property financials, tracks insurance_and taxes, and 3 performs audits for tax credit compliance — all summarized in concise housing. periodic reports to our investors. -_ yk 4 - >° r Y r it k + 1; f: r . i , e w ��y -_ I t,'. Meadow View Estates -'" , Communi Center Peculiar, Missouri = -- ,� -- Farmington Hills - _ 4'7 , Community Center � - + ," € Winder, Georgia r OMB Meadow View Estates Community Center ..- y a . `` �° .'" �;. Peculiar, Missouri � pint � ,,, �� £ ' Excelsior Springs, Missouri - q +.k ‘.4 tit.. G„. W. $ , Pr =r^ -04:7 ' Y -- ;s. x.. `i't. •- 4 , ...) i ,� y :_ x,r`sri. ' * . :, (7 ' _a.._,- .[f.. __.�...A - — , zi IL n .:. ..t I'L _L ...,, m ;., :, i,„ _ : is ....; , 1 . , � , a s i !: i iI: ' T-71- „,,� � ',,�yw`_ t [ � L ey., ' tr 4, :4 t ''; itt 73 11 J` 7 '.. .- { 1. .; o i t t '4 i �g Y ` 7 - k� 1 1 . ''.5 t :!' i '`i [ 1 , . N _ '; ,�f L - ti '" 32 . •�,?,' i. v.. a . s w ”' t .r. a. a Y��. + `?.,....f. , . x i s �+ '4 . , w- � �.,r` 1 _ a ` - .. .� ',z 1 `� Where we are headed... i_ ^4 ! As we continue to expand our business, we have not forgotten the ideals 'Y that brought us this far...honoring our commitments and providing the best service in the industry. I Our developer clients and investors alike have come to understand that they can rely on us to follow through in good times :( : e ; r11.1.1.3 ' ( 1 and bad. And, while honoring commitments is 1. rf r - 1. G� ) g)1_( �l— `' oc vital, we understand that ease of execution , I[in a ll4,<�© t : =;untto g raa is also crucial, particularly in the complex - i416'.10 rk 1C i:��. g >[r ijie regulatory environment in which we operate 1 . a 0...`•,..„. •. c121 Vic, i 2k t4"' col uus94 F : rr. o t rte f ti ; s u.,µ --;:i , �L � 4.1 „:.;,, dp i 1 .-v- .4,,,, � '� "rti� 3 �_. 1 .. riecT - td.i.}ii+nVi. is i%7drivrildogi Villas Downtown LEA ° ,' Excelsior Springs, Missouri igbilfcfV a;tl% Farmington Hills i Winder, Georgia 1.. - ••ICS r Ii \ fn 1 e S�y1�rr +, s �� ' 1n �lj'la�it7 1r t. V sf „ :a ? � ' 1L . - 1 1510 -)r y'sli Ertl tflio ` + r . ` .. 1 t4 y , gam r l . ° ' Y + r - . / 4 k r 7 );ter .l' Gj • " 11• Loxi!il it': '� i ce^ y _. � f E) '' i r f i 4 .• AL.] . ■ - t % ; i I i i — i �, 't "4• _, r f . • I,1~S I) E irci. nc c,( hlt;u'clle n�I Lr , n "" * . aF �� 4' 11 , t . _ ` 1)e lopnrnr Nt'Ga =eati li1171.red !In and? 111 41, . . _ i '' '�- i 1 , t 'i • Page 1 of 1 Having trouble viewing this email ? Click here 1 0 H O lLI HOUSING LEADERSHIP COUNCIL OF PALPA BEACII COUNTY Housing Leadership Council 2014 Annual (Meeting When Dear Michael, Tuesday June 24, 2014 from 9:00 AM to 10:30 AM EDT Please join us on June 24, 2014 at 9:00 am for our 2014 Add to Calendar Annual Meeting. The Housing Leadership Council would like to share our vision for the next year and fill you in on all that we have accomplished this past year. A light breakfast will be Where provided courtesy of Habitat for Humanity- South Palm Beach Ocean Breeze West- (Parking at County. St. John M.B.C.) 900 N. Seacrest Blvd Please click on the link below to register or RSVP. South Lot Get more information Boyton Beach, FL 33435 Register Now! ` I can't make it Ci31 rE' If you have any questions or concerns, please feel free to - a t " IATEE EFr r, -e pp a contact us at the office at 561- 653 -4107. i p = Thank you so much for your attention and response, and we Boynton ,B each! look forward to seeing you at our Annual meeting. r } Sincerely, ` v 792 f ®�`=� • �f� a�r� =ter+! Suzanne Cabrera _ -„_ _ . lrrok i Housing Leadership Council Driving Directions scabrera @hlcpbc.org 561- 653 -4107 Forward email �1 }'i; Ott "c fK�e }= This email was sent to mcampbell @hfhboca.org by scabrera0ahimbc.or4 Update Profile /Email Address i Instant removal with SafeUnsubscribe I Privacy Policy Housing Leadership Council 12101 Vista Parkway I Suite 300 i West Palm Beach i FL 133411 http: // campaign .r20.constantcontact.com /render ?ca =fl 194733- e6d0- 4fD6- b3bf- 9d87487e67... 6/6/2014 1 it b { ' F ' % l' �r . ;, .4, i t ,,, \ i " % + �� 7 it � , f .�� I it r y � :f:: : 4-- . r ' ^ / / J /• �� f ! ' �` + ''' 1 f � 1 r,, r d'a to C r/ ■ \ 1 Sar t T '1 y . ' y� /j. r�i� l r r� � `� '' , �` t � � � { iL t ri t . . }r - _ i � � ` 1f r / l ao y ,( ei /: :r p e ' �,3'. , . ` r t 1 1,1:::,';',1' }L, 5 + { - '• �, _ , if s . 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