Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Agenda 04-07-16
z B Y T N ONE of "' BEACH C R A CRA Advisory Board Meeting Thursday, April 7, 2016 @ 6:00 pm in Chambers at City — 100 E. Boynton Beach Blvd. Boynton eac , FL 3 561-737-3256 ADVISORY BOARD AGENDA I. Call to Order IT. Roll CaR TH. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda Consent: A. Approval of Advisory Board Minutes 3/3/16 V. Information Only: A. Response to Advisory Board Member Questions Regarding CRA Finance B. Financial Report for Period Ended March 31, 2016 Old Business: None VII. New Business: A. Overview of CRA Finance and History of CRA Funding — Where does the money come from and where does it go? B. New Development Project -Ocean One Development — 222 N. Federal Highway C. New Development Project — Rivcrwalk —1532 S. Federal Highway D. Major Modification Project — 480 E. Ocean Avenue E. Review of CRA Board Meeting Agenda for 4112116 VIII. Public Comment.- (Note: comments are limited to 3 minutes in duration) IX. Future Agenda Items: A. Overview of Capital Projects and Private Projects — past and present X. Adjournment NOTICE THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WYrH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED BY THE CITY, PLEASE CONTACT THE cRA AT (561) 737-3256 AT LEAST TWENTY-FOUR HOURS PRIOR TO THE MEETING PROGRAM OR ACTIVITY IN ORDER FOR THE CRA To REASONABLY ACCOMMODATE YOUR REQUEST. ADDITIONAL AGENDA ITEMS MAY BE ADDED SUBSEQUENT TO THE PUBLICATION OF THE AGENDA ON THE CRA'S WEB SITE. INFORMATION REGARDING ITEMS ADDED TO THE AGENDA AFTER IT IS PUBLISHED ON THE CRA!S wEB SITE CAN BE OBTAINED FROM THE CRA OFFICE. MINUTES OF THE CRA ADVISORY BOARD MEETING CHAMBERS AT CITY HALL 100 E. BOYNTON BEACH BLVD., BOYNTON BEACH, FLORIDA HELD ON THURSDAY, MARCH 3,2016, AT 6:00 P.M. PRESENT Linda Cross, Chair Vivian Brooks, Executive Director, CRA Robert Pollock, Vice Chair Tara Duhy, CRAAttomey James DeVoursney (arr. at 6:27 p.m.) Michael Simon, Assistant Director, CRA Brian Edwards Theresa Utterback, CRA Development Services Paula Melley Specialist Thomas Murphy, Jr. Christina Romelus F 1. Call to Order The meeting was called to order at 6:00 p.m. fl. Roll all Roll was called and it was determined a quorum was present. 111111. Agenda Approval A. Additions, Deletions, Corrections to the Agenda Motion made by Ms. Melley, to add an item on the agenda that pertains specifically to a portion of the budget so the Board can acclimate and educate themselves on those items. Ms. Brooks advised that the next meeting is the budget meeting, and they will be drilling down into the particulars. The project budget and general fund budget will be presented. Finance Director Susan Harris will be presenting the budget and audit, explaining the origin and allocation of money, debt services, general fund vs. project fund, etc. The budget process will begin in May — June, and future projects will be discussed. Chair Cross recommended holding Ms. Melley's idea pending the discussion at the next Board meeting. She wanted to make sure they understand the current management of the monies. Ms. Melley withdrew her motion. Meeting Minutes CRA Advisory Board Boynton Beach, Florida March 3, 2016 Ms. Brooks advised they have had seven years without audit findings. Projects that are brought forward are in the Plan, and the CRA goal is to improve the area. She added that at every CRA Board Meeting, they have a year-to-date on every line item in the financials. That information is available monthly in the CRA Board Packet online. There were no additions or changes to the agenda. B. Adoption of the Agenda Motion made by Mr. Edwards, seconded by Ms. Romelus, to adopt the agenda. In a voice vote, the motion passed unanimously. IV. Consent: A. Approval of Advisory Board Minutes 2/4/16 Motion made by Mr. Edwards, seconded by Vice Chair Pollock, to approve the minutes as presented. Hearing no opposition, the motion carried. V. CRA Advisory Board Rules & Procedure A. Adoption of Robert's Rules of Order Ms. Brooks stated there is a "cheat sheet" in the backup on the Robert's Rules of Order. Motion made by Mr. Edwards, seconded by Vice Chair Pollock, to use Robert's Rules of Order to conduct the meetings. Hearing no opposition, the motion carried. Mr. Brooks recommended that a public speaking time limit needs to be adopted — the City allows three minutes per comment, generally at the end of the meeting. Motion made by Vice Chair Pollock, seconded by Ms. Melley, to allow three minutes per person at the end of the agenda. Hearing no opposition, the motion carried. VI. Old Business A. Review of CRA Demographics Ms. Brooks stated that they are in the process of consolidating the CRA Plans into a cohesive plan that will be easier for all to understand. She referenced a summary of the demographics that was in the backup material. Ms. Brooks said there are single-family homes in the heart of Boynton Beach, but any are rentals. She commented on the impact of snowbirds, who do not rent their homes 2 Meeting Minutes CRA Advisory Board Boynton Beach, Florida March 3, 2016 out.' Taxable values are low on single-family homes and condominiums, which is a driving need behind obtaining new investments in the CRA. Ms. Brooks mentioned that it is also important to diversity the economy and attract higher-paying jobs to the downtown area. She said they currently have too much retail on the Congress Corridor, and large stores are closing. Livable-wage jobs are extremely important, but almost impossible to develop in the CRA at this point. Most jobs pay $8.00 per hour. Vice Chair Pollock confirmed that many people who live in Boynton have better paying jobs elsewhere. There is the need to bring in industrial jobs and encourage tourism. Ms. Brooks commented there is a need for a hotel in the City, and they have invested money in the Marina as a tourist attraction. The City has stepped up marketing with "Discover the Palm Beaches" and "Visit Florida." She mentioned they need to improve the appearance on Federal Highway coming into Boynton Beach. Decisions made by the CRA have to focus on increasing the taxable value of the area for the future. Mr. Edwards mentioned that his biggest concern is having affordable homes for the individuals who live here. He also said the minority population is growing and will create increasing health care issues. VII. New Business A. Overview of Adopted CRA Plans Ms. Brooks gave a PowerPoint presentation that provided an overview of the redevelopment plans - past, present, and future. The presentation highlights include: • Original CRA area —downtown core (1984) • Main goals included higher buildings, pedestrian areas, visual attractiveness • Land use regulations, parking, marina use, utilities, neighborhood impact regulations, • Three major projects: Waterfront park - specialty retail/residential project (became Marina Village) Hotel Marina project • Flexibility was needed and CRA expanded to 1650 acres with 20120 Redevelopment Master Plan (1998) o Main goals included positive City image, streetscapes and public spaces, parks, community identity, commercial revitalization, downtown redevelopment, neighborhood revitalization (the Heart of Boynton), transportation needs and linkages, public involvement, implementation 3 Meeting Minutes GRA Advisory Board Boynton Beach, Florida March 3,2016 * One CRA regulation that inhibited development was required commercial retail on the first floor from C -16 Canal to Woolbright — that was changed o Have not yet hit critical mass — has to be enough core population to support walkability * Heart of Boynton (2001) - 519 acres o Has the most slum and blight in the CRA ■ West side is not too bad, but east side is o Land acquisition, built subdivision on west side o Currently working with two developers for multi-family project o Amended in 2014 to reflect achievements and market changes o Main goals include west of Seacrest (single-family), and east of Seacrest (mixed use and multi-family); redevelopment of old Boynton Terrace; redevelopment of City Public Works site ■ If not redeveloped, the City would have to find another site for Public Works outside the area, move, and probably rebuild (major project). Many projects are already in the planning for that neighborhood, so this is on hold... probably has environmental issues. o Other goals are creation of affordable housing, especially multi-family rentals on Martin Luther King Boulevard (housing stock is old and in need of repair); IN Affordability is determined by the median household income of Palm Beach County by family size; Ocean Breeze project - highest rent for three-bedroom would probably be $1200; apartments would be high quality Code enforcement is key to upkeep City buys what properties they can for private investors to develop — will build 15 single-family for sale houses. The purpose is to level the playing field for the private sector, not make money. Details of the project funding by the State will be known by March 8, 2016. It comes from the Sadowski Act funding. The rentals will generate a lot of tax revenue as opposed to the snowbirds who come and go but are not here on a consistent basis o Other goals are job creation and training, creation of retail services, and neighborhood services/grocery stores with more density M A lot of vacant land is owned by people in the community o Other goals are historic preservation; parks; civic centers; green space; traffic calming; pedestrian connectors; redevelopment of Cherry Hills Public Housing site (west of Seacrest on 11 th and 12 th ) — finally torn down - tried to get Housing Authority to redevelop or release the site o Did streetscape project on Seacrest Boulevard with stimulus funding Job creation highlights 4 Meeting Minutes CRA Advisory Board Boynton Beach, Florida March 3, 2016 o Strategic partnership where local businesses take paid internships and the CRA reimburses the business — young adults need experience to get their first jobs and businesses need workers • Ocean Avenue District Area (50 acres) o Goals are to establish identity, encourage full-time activity, foster economic development growth, encourage mixed use zoning; incentives for redevelopment and development; reduced parking requirements; pursue activities and projects that create pleasing environment, more of an urban development; special events • Federal Highway Corridor Plan (2.5 miles) (2001, updated in 2006) o Still in effect, divided into 5 planning areas o Most development is near Planning Area 1 (IPD) o Lots of townhouses o City does not own the land o Ms. Melley thought limitations of the area were due to the visibility of the train tracks — is there CAD CAM availability to see possibilities and limitations? Ms. Brooks replied there are projects on the north end, and they hope to take that up to Hypoluxo (where it is green space) with landscaping. City has an agreement with the FEC, but irrigation is non- functioning. Have to maintain it for three years. o Possible development with Town Square — would have to reconsider Boynton Beach Boulevard enhancement o Highest density of development is in Areas 1, 2, and 4 o Creation of Transportation Concurrency Exception area o Pursue convention-type hotel in downtown • Downtown Vision Master Plan (2009) o Main goals: family-friendly use downtown; core of commercial activity, provide access to water, etc. o Big moves: transit-oriented districts (will allow double tracking), cultural and civic campus (new City Hall), Ocean Avenue cultural (such as Ruth Jones cottage), MLK commercial nodes, and Linear Park and Gateways o Ms. Romulus asked if statistics were available for supporting local business retention, and Ms. Brooks replied they have that information in their annual report They also do free marketing in the Boynton Forum, and have free videos shown at movie theaters Next outreach is to industrial area • Next moves: o Consolidate current CRA Plans for simplification ■ Need fully formed land use map o Public workshop — bring maps and results of prior meeting's feedback and changes, followed by coming to this Board, then CRA Board, and then to the City Commission for adoption o Also will have a developer's forum 5 Meeting Minutes CRA Advisory Board Boynton Beach, Florida March 3, 2016 o Planned completion by summer of 2016 Ms. Melley wondered what has been budgeted for the entire process. Ms. Brooks said it is in the budget, but she did not recall the amount. She added they have availability to Treasure Coast Regional Planning Council, who have CAD capabilities. Ms. Brooks said the major goals from Plan I to the present have not changed that much. Ms. Brooks concluded her presentation. Ms. Brooks spoke briefly about the material to be covered in the next meeting. She advised that the CRA would most likely be a financial partner if Town Square comes in. The type of financing could be bonds or cash over time. She said they need to decide how to get the most bang for their buck in this real estate cycle. Ms. Melley wondered if she can send her budget questions to staff for answering, and Ms. Brooks replied affirmatively. Ms. Brooks stated she would include information on Ocean One in their next packet. Mr. Edwards mentioned that a large degree of the problems in the CRA boil down to the job market. Ms. Brooks discussed the positive items, such as home dedications and the changing economic viability of the community. It takes a long time for those changes to occur. Ms. Melley announced the Community Caring Center will be hosting its Second Annual Hunger Run and Walk on March 5, 2016. She said the CRA and City have been very supportive, and she encouraged all to register for it. Ms. Romelus commended the neighborhood police and firemen for their support. B. Review of CRA Board Meeting Agenda for 318116 Ms. Brooks wished to include Ocean One on the agenda (pending approval). The agenda will be posted on the web by March 4, 2016, for the CRA Board. Also suggested were the following: o Interlocal agreements o Grant from Solid Waste Authority ($62,000) to demolish the old Sims barbershop building, install grass, spruce up Public Works site (landscaping, fencing, etc.), and more VIII. Public Comments City Commissioner Joe Casello thanked the Advisory Board for their service. 6 Meeting Minutes CRA Advisory Board Boynton Beach, Ronda March 3, 2016 IX. Future Agenda Items A. Overview of CRA Finance and History of CRA Funding - Where does the money come from and where does it go? X. Adjournment Upon motion duly made and seconded, the meeting was adjourned at 7:53 p.m. [Minutes prepared by J. Rubin, Prototype, Inc.] 7 } BoYN I'M= B E RA ADVISORY CRA ADVISORY BOARD MEETING OF: April 7, 201 6 AGENDA ITEM: V.A. Response o Advisory Board r Questions Regarding CRA Finance SUMMARY: On March vi sory Board Member emailed the CRA with questions regarding i nc Marketing. il, responses n oc nt ion attached. FISCAL IMPACT: NIA Information Only PROJECT: CRA PLAN, PROGRAM OR All CRA Plans None Susan r° Finance Director I Harris, Susan From: Paula Melley <PMelley@OasisAdvantage.com> Sent: Wednesday, March 1.6; 2016 12:00 PM To: Utterback, Theresa; Harris, Susan Cc: Brooks, Vivian; Simon, Michael Subject: CRA budget questions Theresa, Susan, Good morning. At our last advisory board meeting, it was discussed and affirmed that I should send my questions to CRA staff to address directly regarding the budget. The questions are based upon the budget binder that was given to each CRA advisory board member. The intent of these questions is to be as clearly informed as to where we are now as a city and as a CRA in terms of money in and money out and the management of same. Thank you in advance for your assistance with these questions and I sincerely appreciate and support all that you do for the city. Regards, Paula Questions regarding CRA budget 1.) Where are the monies housed for the CRA? 2.) is the money earrung interest? 3.) at type of account(s) is /are it/they? 4.) how many accounts are there ? 5.) what %age of multi-year projects actually come to fruition? 6.) what are the terms of the bond refunding? 7.) is bond refunding similar to to refinancing? 8.) can you confirm the years that the tax increment revenue bars were set for Boynton's CRA district, as I believe there were two? 9.) how do the taxing authorities transfer this Tax Increment revenue to the CRA coffers? Wire? Check? When is the transfer made ie what month? 10.) what is the maturity date on the debts ice for the CRA? 11.) who has the management contract for the marina? 12.) what are the terms of the contract? 13.) how can CRA advisory board members get a copy of the contract? 14.) why are unemployment pay-outs up 35%? 15.) what is the turnover rate for the CRA for employees? 16.) have the last several pleb terminated? 17.) is there an addendum to the marina contract to reflect the increase in management costs? 18.) the retirement costs rising nearly 10%. Does this reflect 01k match? Deferred compensation? What does this number represent? 19.) how long before an employee for the CRA is 100% vested? 20.) if there is 401 k match - what is the max match? 21.) when is the healthcare up for renewal? 22.) what carrier is the CRA health plan through? 23.) is the CRA's health insurance encumbered with the city's health plan? 24.) the ongoing projects encompassing 34% of the CRA's current budget. Please give an itemization of what projects this encompasses. 25.) proposed projects for 2015-2016 classified as "new" what are the new projects 26.) the $1.252M titled "other" can we see a breakdown for this or are the funds not yet designated 27.) what have the costs been for the past 3 years for the professional and of expenses item? Design, legal, et al. 28.) total bond refunding savings - how are you getting to the $4,409,719 savings figure ? 29.) when do these loans mature? 30.) how many times in the past 1 U years have these debt loads been refinanced? 31.) where are the closing costs reflected for the latest refunding/refinancing? 32.) what is the total DIFA for the 500 ocean project. How many phases and what is the duration once the project is complete? 33.) what percent of the CRA is funded through bonds? Through TI F money? Any other sources of income? 34.) what is the Walmart brownfield of $22500 for? Why did it rollover? 35.) CRA marketing budget - where is a report showing the ROI of these efforts? Namely the ads placed, etc.? 36.) please clarify on the CRA or chart where the advisory board should be reflected 7.)w t is a 457(b) fund 38.) does the CRA provide a 15% match? Or is that the max allowed to invest? Please confirm what the 15% represents on the salary schedule. 3 9.) is there a reason FUTA and S aren't shown here on the salary schedule? 40.) who is on LOA? L) FV ta DVeedo- CP qK>XM 41.) on the fimd balance it says pre paids. Pre p for what? 42.) please specify what the encumbrances are from fund balance analysis 43.) self funded insurance reserves - how does the CRA access these funds? 44.) what is the process to initiate the use of these funds. 45.) ran we receive a copy of the annual audit that was to be completed mid-January. 46.) where is a copy of itemized expenses for the CRA that estimated a total of $24,580 - then dropped to $20,750 and now are anticipated to be somewhere in the area of $27,100 47.) why is there such a marked increase in contingency funds 48.) the increase in insurances - is this for health only or other insurances? 49.) what is the equipment needed for the finance dept? 5.) bank fees are $1000. What are they from 5 1) approx. $13,500 is being spent on membership dues. at groupsVorgs is the CRA joining? How are we quantifying the ROI for these groups? 52.) how many W-2's were issued last year for the CRA? 53.) who is on leave that warrants a $20k uptick in payouts 54.) work comp went down across the board in L. When is the last time we reviewed our work comp policy? 55.) looks like $119k this year in retirement pay outs. What does this represent. 56.) contractual services actual was $30k less than budgeted. Why is it back to $147000 for 2015-2016 and showing as a 0% increase in budget. What were the itemized costs for contractual services in 2014-2015. 57.) may we see a copy of the intralocal agreement for HR and payroll services for the CRA, which is running approx. $1812.50/F-E 58.) why is rent going up? Will the CRA ever own the building it is in. Did the CRA finance the build-out for the CRA offices. 59.) where is the storage facility? 60.) gas and diesel charges. Why going up so much. 1.) where is the general fund contingency fund housed? Is it a separate account? What purpose is the contingency fund used for. 62.) what key parcels is the CRA looking top chase 2 63.) where did the $175k earmarked for demolishing the of high school get rolled into? We had those fimds ... Where are those fimds now. 64.) how can Walmart brown field funds get r ed fora different project? 65.) need toe l the rollovers. 66.) need toe I the professional expenses and how they are accounted for. 67.) also rent expense. Had a dash for 2014-2015 now a new line for $11 k what are we Renting for this amount that we weren't before. 68.) what is the criteria forte marketing incentive plan and what exactly is it Sent from my iPhone Paula Malley Professional Employer Consultant Oasis Outsourcing 1001 Yamato Road Suite 407 Boca Raton, FL 33431 Tel: 561-869-2800 x 6-4231 Cell: 561-757-0245 Toll Free: 888-328-2463 x 6-4231 Fax: 855-971-3618 www.Oasi Ndyantage.com 3 ° o r° d *' O m O + C a) cV m cn s E c m ug _ c ® ro ]. O m w 0 LO mma rEJ aEa Lo CD ` m y ti E ® a E- E '' v E w O ° a r_ r- c ®mC °° - "-° Ma �m un �- vsc m N wo c 10 'a`) o e r m id M r os D m a) M m r p M m ° N o O m `R C° c 2 n '° V m 2:1 T a m C C d N M M� 3 r r c c V? ° m o ��t `w y U) rz C r m :3 cri _ m M— O O C M m r m r o E �, m 12 E= O an d o � o 0 ° us C9 CL m f� 7 .r z y— C M m U7 a) 0 = �=° _ C ® E N mU c v m � � �ma ° O ® cv ro r m OL �' m asNm �m =� m °aosN cm� CD OD ® ® m - v M m n v •" o = in m$ °= o c E N c.0 U c °� E '' o c T `� c c a a) ° E E 6® M Q .c . 5,m�® ° m c = c o 2 m ® m mco m cnr () 7 a3 m W c m r v- ¢o „ c 0 y M c E m a) cm C C ° m° o c 3 a) C O m O E jo ° c c o • c cam LO 0 C w a ca mrs o 0c cD mr C-4 0 ® 3aN MN `men m m�` -" r mow- m O 0 C -® 0 C m° 0 .2 ® O -.2 Ems . � N E m M ` ® m O - in C N E ® m Q1 N m °R M r o E y L d m m ro' 2 v m � E 5,� 4 a +r v y ' >� c cl H o y t a) m® C m a m m m O O m a) C M m m m �, O 2 O "' V ®_ U > - U U) Z F- o W y Cl 0 cv U) 0 M 0 �® < ❑ 3= r r C7 .N S v m O r w m CD 7 E �° d w U v w ° „ w a a c-• � u Id x '" U) v U 0 c- c. —0 " O O cl. co IL C-• O H U C-• ��., ctl O c � � ter• � � � v ° Y o .o w w ° ° q', 4b 0 � r .LS � r• p � .r rr r;, r, r, m N C w .- c E o- C O m ® O C UO cm X C \° w C a C C -O r O E m O C 2 C a ar m pn c O CD 0 V) 7 w C c ® Q. CL � U E as O (D ' E �• N LL t6 E uro C p m o CO aF- 5,Er r U a) ` sa- " w m N ® O to ? Q m aS ` a 5 ai _ _ E ®® �x M E —I D c a) U mU) °C'ro �} h- i a7 N• 0 m °. m C m r ll. U C d1 CL O ° a1 a O �" c ar E E a® v y d U cq ui ° U C O ' > E C n p-0 CM as Q m a a> m � ° � v `� m 'o � a °,° m m cm °�maty E x :3 3ECO ro x a3 ri - E d m c 0 c M C) c ® c o af v+ m E � m ® ®�, m c U n� 3 c m `w- a) � H r° .�' G V C ` r C m ° rn w y E x O d c a) w C E as c o 0 CL a 'a c c _° uti U iT CD M c a m m m c _ O 5 E °- ,x 3 0 4- o o a`'. c ors m E ay ® `n d m m m x-70 m ®� v� r c w w- G °5 > - CL M ' m — µ N °_ O' o -W a) . ca a ® LL c ® lo y cn c C >, ; o E = n c c C v m U y tb v c m n= E m m m as m y ® m c c m .°- as U •• 0 Lo � °3 a) as .e U us rn »d to a' w 3 cn y> c = = E :3 n Cz. m� a °' E — a �� c o r o a a c r U 0 C 0 o o j O` M � E o m 0 Cv y ° a z a +, v' 4A 0 v) w o CD y a U p ® k as Cb c o :3 +' o ' 4 0, CO3 Cd v o ® C ° o N v u C'- a �' , o U U N �' c 0 CD a a > v o o E8 CL r cv ra N cv ... cv N N cq m cn m en m M en L) 0 log v= m � oUU a my =mar �s vc c — w o n c Ej U as o o v° v c N c c y C c y oa v a (D M c s m o c m as n 0 3 ° °U o m _ ° LU U ® y n a .2 w us c o nm n0 IV 0 CM 0 P �' d >' r ay c� ° m r te° > o _ y o a' , c t 0 c a) c M a w °� ® c e � ca °y m cc o cn m % CL 0 N m n 2 ° C o m c a1 0 ' --a Ew° in < ® c w°C c c ® m °°o ® U} ID ®? ° y N CL 01 n r U fly C c CAS r U r 0 C� N � CD ® E as h fa aw c a® _ ® a) m as c E L CL CL y a o E E o n` o -2 .a 0-o - W a a I - o E 10 1-2 ° 0) r ° ° U C ° c ate H ° C ar y ov us o s " ~' U as c� C> a I n ® N U a. P-' V F, ® "v ° $ ° > �. bow , .. 0 ca v � � va tg a Dt CI. Cc y, ctl 47 c. 75 _ Cl . �. ® C v W c ' 04 30°x` r w Cd c o N 3 P4 o g ° y 4, ° kn tj ra ra r, r, r� r, r� W) ® N M V7 [� ® Aw a N M d a V°1 l m 3 M va rra `n wa kn to v, N v vs cn co r -0 CL 6 co 'a 0 2 CL LL 2 2 E m V CL CL —0 0 W m 0 M 0 cn E CL c ti 0 co cm z QD .2 2 0 m C;) -C D co CD ' a, E c M 0 0 a) 0 C 0 LO 0 LO 0 w -0 -0 U) E CL 0) m cm M 4 t c 0' Nt a a n o C%l L O E r- 0 a) � cm co CL cm :2 .9 C 12 w W a 15 a- - 2 4 Z V) 0 a) -a > J2 2 C . 4 w CO 2 0 CL r_ - 0 a) LL CL ay 0.2 L C) > ,q rL 0 C e) _0 LL 0 :3 0) 0 if — w g m am — E 6 � 0 r- CL CP E 0 a) a T5 CL w 0 m 0 E 0) > > = C , ) 2 0 CD w CL 0 0 E -0 4) 0 E 0 0 1 LD S; 12 < 0 :3 0 4) cn a- '�D 13- L) P4 18 ar IL CI. IL 34 0 0 as > ch to 0 C> fir' vn ro on CD bn z < z LL o qu cz W ID 'A 0 0 0 t6 ca 0 Q� C; M "0 . ........ . 4D 1%'D .1� RESPONSE YQ QUESTION 6 OY V� T ,� C ' RA REVISED CRA BOARD MEETING OF@ September 11, 1 I Cougmt ! X I Old Buda= i t NewBwisen i 1 ` 'r . 1 Authorizing r Into a Rate Lock Agreement with are Escrow Structuring Engagement r with Public Financial Management, I . (PFM) for the Refunding of 2004 and a portion of 2DO5 Bonds SUACKARY.9 As discussed at the CRA Budget Meeting on August 22, r an analysis was t ! ! r , The PFM Group) i i interest rate savings Series reducing 2005A Bond, thereby ! . Interest rates for the portion of the bonds r . Financial An RFP was issued by the i! refunding Series alone (total not to exceed $13 million) or include r a total loan not to million. exceed $16.3 I s and further discussi the respondents, PNC Bank was chosen as the most responsive to the needs of the CRA. Key terms: (1) Structured as a bank loan to the CRA City Guaranty to remain (3) Refunding of Series 2004 and Series 2005A r a total loan not to exceed $16.3 million Wil mature I maturity) (5) Interest Rate of 2.56% If the CRA Board approves the Rate Lock Agreement and dependent upon the finalization of the loan , the CRA could . Net Present Value Savings 1, Service (7) Total Debt ii the f the loan (over $200,000 annually in the first 12 years of the t r. v en da hmn R9*WAFffl byWadnWY Lad AWfiemer"Nwd, Board 11wftaWapWff6@r201MadPjffWdngAda .1 The Rate Lock Agreement is the first step in the process of the bond refunding. The Escrow Structuring Engagement Letter will allow the CRA to engage PFM to serve as Investment Advisor in conn Wth istructuring the escrow securities required by tho bond refunding. The folloyAng schedule has been provided by Jay Glover, Financial Advisor and Mark Raymond, and Counsel. • September 11, 2012 — CRA Board approval of rate lock agreement • September 12, 2012 — City of Boynton Beach notice to taking authorities about issuance of debt. As explained by Bond Counsel, under the CRA statutes, the CRA cannot incur the debt (Including the refunding debt) without city approval, and the city by the CRA statutes cannot approve CRA debt until a notice to te)(Ing authorities disclosing the proposed debt issuance has been sent at least 15 days before the approval. • October 2, 2012 — City Commission approval of financing documents • October 9, 2012 — CRA Board approval of financing documents • October 18, 2012 — Closing Its l noted that If the CRA Board approves the Rate Lock Agreement and the loan Is not closed, the CRA is subject a breakage fee. the amount of which will be dependent upon the prevailing interest rates. Please note that the attached Resolution has been revised, and the Rate Lock Letter as well as the Escrow Structuring Engagement Letter has been reviewed by Bond Counsel and is attached to the revised Resolution. FISCAL IMPACT: Potential savings of $2.58 million In debt service payments. CRA PLAN, PROGRAM OR PROJECT: N/A RECOM[MENDATIONS: Approve Resolution No. 12-05 authorizing the CRA to enter into a Rate Lock Agreement Wth PNC Bank and authori7ing an Escrow Structuring Engagement L with Public Financial Management (PFM). Susan Harris Finance Director T.VWBVA% COMMU OMSDA% MONMLY RffKNTrWWnp d& bw PA*jW FW= by MWWWY 2011-2M2 DWd UWqPWWWMbW2U1A0Wd P&MOMANtE Lmk AWMMWd4tWW. NQ6 1 MSAW RESOLUTION NO. 12® A RESOLUTION OF THE BOARD OF COMMISSIONERS OF TRE BOYNTON BEACH COMIAUNITY REDEVELOPM[ENT AGENCY, AUTHORIZING THE NA. AND PROVIDING AN EFFECTIVE DATE, BE IT RESOLVED BY THE BOARD OF COM[M[ISSIONERS OF THE ]BOYNTON BEACH COWAUNITY REDEVELOPMENT AGENCY (the "Agency)- SECTIONI. Authorization ofRate Look The Agency is authorized to enter Lock Agreement with PNC Bank, NA in the form affached hereto as Exhibit A. AuthorizationtoExemiteEwrowLMwhMlztterTheAgencyisauth Public to execute the Escmw Structirmg Engagement Latter vnth Finamial ° in the form attached hereto as Exhibit SECTION 3. General B. The agents Agency's officers, Attorneys and other things required ofthem by this Resolution consistent with the requirements hereoffor terms, in the Rate Lnck Agreement and this Resolution. SECTION ® Effective Date. This Resolution immediately upon its passage. PASSED AND ADOPTED THIS I Ith DAY OF SEPTEM13M 2012. REDEVELOPMENT AGENCY Chair APPROVED AS TO FORM AND LEGAL W Agency Attorney EXHIBIT A RATE LOCK AGREEMENT ,1 ! PN C September 7, 2012 Board of issio Boynton t Agency Re: Forward Fbwd Rate Community The Boynton Beach ( r") has requwted t PNC Bank, National ` ( vie dw Borrower with a brward rate commitment (the o ") for the Borrowees loan (the "Fadlity described in our Summary of of August 27, 2012, and as revised September , 2012, as attached hereto as EAiibit A, and as set forth in the amortization schedule hereto attached as Exhibit B ( 'Terms and Couilitions'). The Forward Rate ° offered at a fixed rate of ®56 °/a pw annum fDr a principal amount of $16,300,000 to fimd no later than October 18, 2012 ( to Lock Expiration D&WI. The Bank is willing to commit to the Forward Rate upon the Terms and Conditions, subject to eRecution and delivery of the deffiffive documentation for the Facflity in content satisfimtory to the Bank and °satisfiwtion of documentation must be executed and delivered and finding of the Facility occur by a date ( e ' ') which is no later than the Rate Lock Expiration By accepting this letter, o w if the Facility fails to fimd on or before e Closing Date, of if the amount of ility or the amortization thereof is less than that set forth on schedule by more 100,000.00 in e, in either can r any remon other than the Bank's inability or reffisal to close the Facility Rate Look Expiration ate and on the Terms and Conditions, the Borrower shall pay the Breakage Fee (as hweinafter defted). Such payment &hall be due two () business days after e Bank gives o t ble detail the basis for the calculation thereof The Borrower acknowledges rqreswta reasonable compensation for loss of bargain and is not a penalty. The Breakage Fee shall be calculated that the Facility fimded in Bill on the Closing Date and with an amortization consistent with that attached hereto, and that umnedbtely thereafter the Borrower prepaid ffie Facility t fimded or fimded inconsistent with the attached amortization. "Braikage to the present valur, if positive, of a product of () dw difference between (i} &a yield ( "Discount i "), on the date hereog of a non-callable U.S. Treasury obligation with e maturity equW to the Im day ofthe Applicable d minus (ii) the yield on t of a non-callable U.S. Treasury obligation with a maturity equal to the remaining maturity of a Applicable It Period, ) the principal amount prepaid, and (c) the munber of years, including prepayment yem, from the to to the end of o. The yield as of y Board of Commissioners Boynton Beach Community Redevelopment Agency September 7, 2012 Page 2 date of any U.S. Treasury obligation reference Statistical ° ( ) 'Selected there is no U.S. Treasury obligation with a maturity mmetly equal to the maturity herein, then the yield shall be determined by linear mterpolation between the published maturities ' immediately prior to and immediately For purposes of Discount making present value calculations, the r each Applicable Interest Period shall be deemed the discount r ate as to that Applicable hitexest Period. For purposes of determi the Breakage t calculation ' amortization payment date (" date being the last day of the "Applicable Interest ") as shown on the attached amortization schedule, and the sum calculations of such 1 be the Breakage Fee. The Bank agrees t the obligations of the Borrower hereunder shall be payable solely received from the tax increment revenues deposited t trust ftnd of the Agency pursuant to Section 163.387, Florida Statutes, subject and subordinate to the pledge thereof and lien thereon created pursuant to the 4 adopted December 6, 2004 and to the pledge thermf and lien thereon given to note, Borrowees promissory t , 2001, made by the Borrower in the principal amount of $3,000,000.00 and payable N.A. This t waiver any of the terms of this letter will be valid unless agreed to in constitute accepted, this letter will t" concerning the Forward Rat% and shall supersede all prior and contemporaneous understandings and agreements ' r relating ° To accept this letter, please it to business the Bank no later then the Bank's close of on t , 2012. If this letter accepted by said date, this letter will automatically terminate without liability or obligation of the Bank very truly youx's, PNC BANK, NATIONAL ASSOCIATION Title- Dr Vice t Board of Commissioners Boynton Beach Community Redevelopment Agency September 7, 2012 Page 3 ACCEPTANCE The Borrower hereby agrees to the above provisions, intending to be legally bound hereby. The Borrower understands that the above provisions may obligate the Borrower to make a significant payment to the Bank, and the amount of any such payment cannot be predicted in advance of such event The Borrower is fully informed of and is capable of evaluating, and has "unted, the potential financial risks and benefits and the appropriateness in light of its individual circumstanow, of this letter. The Borrower is entering into this letter in reliance only upon its own judgment and is not relying upon any representations, s or advice of the Bank. BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, FLORIDA 133r............. . . . . Name: Title: Date: September 12, 2012 PNC Amsust 27, 2012 Septainber 4, 2012 ., CPA Mr. Jay Glova Director 1 t City of Boynton Beach Public Financial Management 100 EL Boynton Beach Boulamd 300 South OmW Avenue Suite Boynton Beach, Florida 33435 Orlando, Florida 32801 Ms. Susan Harris Finance Director City of Boynton Beach Community Redevelopment Agency Boulevard 100 R Boynton Bunch Community Boynton Beach, Florida 33435 Re: Boynton BeWA — t Revenue Refunding Bond Attached Dear Ms. Harris, Mr. Mvood & Mr. Glover . 7 Qualifled Bank Loan for do Boynton Bcsdh Community ! 1 is in completion . PNC brings a team-oriented approach tD each 1 technical sound eximilse, Purthamor% FXC believes in its ollants. We work hard to comprehensively our ' unique finamial need% and capabilities leverage the complete . pleased FNC is i financing solution # questions - . Vice Preawant Ile PNC Financial i Boynton Beach Community Redevelopment a Florida Conditions S16,300,000 Non-Bank Qualified Bank lAmn Summary of Term and This t r an offer to lend and does not create my obliption on the t of the BnaL The Bank will not be extend doomed to commitment lat trx is hisue& This outline r principal te SUMMARY OF TERMS Revised September 4, 2012 Borrower. Boynton Beach Community Redevelopment ' or die "Borromar") Bonin PNC Bank National 1 " Amount: Subject to credit t i to provide dependent Loan upon da; Term Option elected by the Agency. Purposes. wAgency's Increment Revenue Bonds. Series 2004 maturing October 1, through October 1, 2024 for Option , October 1, 2022 for Option and October 1. i6 Agency Taxable Therament Remus Bonds, r° Tax Incroment Revenue Bonds, Series 2004 possess; a parity pledge of the Tax Increment Revenues of the Agency. s The Leen ivill be Issued in an amount not to o 3 millio The payment of the 1 of and interest an the Loan shall secured by a pledge of and lien the Agencys Tax Increment Resolution. Revenues as provided fit the Bond Inemneat Revenues are not sufficient in r to make payments due on the the i appropriate agrees to covenant to budget and it 1 non ad vakmn revenues an amount to make up any shortfidl. Amortization & t ri ty: Principal due annually beginning 1. 2014 and each r until the End maturity 1, for Option 1. with a final maturity on October 1, 2022. The final maturity on Option 3 would be October i . 2026. Amoctization. to be scheddled as reflected in Proposal. Request for 2. Agency, Boynton Beach Community Red"allopment Florida Qualified $16,300,000 Nou-Bank Qualified Bank Lose Summary of Terms and Conditions Interest Rate: Option I Maturity 10/144 Tax-ftempt Non-Bank + Indicaffire Rae as of August a Option 2 10 year Put I Amortization 1011/26 Tax-fixempt Non-Bank Qualified Indicative Rate as of August 1 Option 3 Maturity IWIM Qualilled Fixed . Indicative Rate as of Spiftniber 1 *Rift will be hold for i this Proposal, at which pohd the Allency will have mccuted a fiwmrd rato look lafter (assuming the Low hog not 1 ® 1 i 1, 1 of April each yaw comonocing will payable on a 30/3C&day count basis. Principal payments °1 begin an October 1, 2013 and in the t t AgeWs Request for Pmpossl. t at aWime i Bank's Make Whole jenwisions. Tax ® If for any remon. an amt of taxability a the interest rift ohwW on the outstanding prinelpol balance of the Bonds shail, offixdva as of and after the date of the occurnum of such avent of taxability, be Increased Covenantse Affirmative and neptive covenants as defined in the Bond Resolution . include, Expesums All expenses imonvd by the Bank WWI be paid by the Bormwer. These counsel (Inside and outside) and any other expenses in consection with i dall be payable at closing or otherwise on demand. Psyment by Bormwer of oximnses described above shall not be contingent upon the closing after documentation of the ftensactlou has started, regardless of whether the transaction i' acceptable Sentafiff (or such other party mutually the Bank 3. Boynton Bomb Community Redevelopment Agency, Florida $16,300,000 Non-Book Qualified Bank Man Summary of Torras and Conditions and the Borrower) will sow as bank ownsel and few would be $6,500. Representations And Warranties. 7U Borrower shall make representations and warranties standard for this *7 of transaction, in form and substance satisfiotory to the Bank. Conditions Fiveedent. Includin& but not limited to, the, following all of which shall be in form and substance satisficatory to the Bank. I All docuffsaflatian relating to the Loan in fbrm and substance satislhatory to the BOUL 2) Covenants as set forth in the Apacy's. Bond Raolution. 3) Satisfactory Mview of other arvernerift relating to the LORM 4) Evidence that Loan is an parity ® all inlier senior Agency debt obligations. 5) Evidence that Borrower is authorized to enter into t® transaction. 6) No matedel adverse change in the condition, financial or othenvise. operidions, properties, assets or prospects of the Borrower. 7) No nisiterial threatened or pending litigation against the borrower or additional material contingent obligations of the Borrower. 8) Delivery of opinions of 1® 9) Payment of all legal few. Reporting Requirements: 1) Annual audited financial stalanards for the borrower within 210 days of the Borrawars fiscal year and and the completion of a Covenant Compliance Certificate. 2) Budgets, forecasts and other items as may be reamnably requested by the Bank which are prepared by the Bormwer Events of Default.. Events of Default as defined in the Bond Resolution. ]Documentation- Resolution and other loan documents in form and substance satisfiwory to tha Banks must be executed and delivered containing representations, wromfles6 covenants, indmmities, conditions to 4. Boyntoft Remb Commmunity Redevelopment Apney, Florida $16,300,000 Non-Bank Qudifled Rank Loan Summary of Tiomm and Conditions landin& events of debult and other provisions as are approprimto in the BeWs opinion and specified by die Bank. Governing lam State of Florida. Consent to Florida Jurisdiction. Waiver ofjury trial, Indommulthmflon: indemnificaflon as deflued In the Bond Resolution. 5. Sap 6, 2012 1.-34 pm Prepm by Public Financial Managanant,1 . (Finan=7.00.2EIcyritonBeach. PagaO . .... . ..... BOND PRICING Bc"tm Beach Cwmanity Rcdevelopment Agency Tax Increment Rdhnding Revenue Bonds, Series 2012 Preliminary Numbem (Subject to Cbange) $784,000 of DSRF will remaW in p1we to cover unrefunded 2004 Bonds S1,058 X0 of DSHF released into dw escraw Maturity Bond Component Date Amount Rate Yield Price Bond Component: 10101/2013 140,000 2.560% 2.56CPA 100.000 I"V2014 115,000 1560% 2.560% 100,000 10/01/2015 905,000 2.56D% 2 100.000 10/01/2016 930,000 2.560% 2.560% 100.000 1 ffO 1,2017 1.270,000 2.560% 2.560 1 D0.000 101O1/2018 1,300,000 2-560% 2.56D% I DO.000 10/01 19 1,335,000 2-S60% 1560% 100.0DO 10/0112020 1,365,000 2 560PA 7-560% 1 00.0DO 10/0112021 1,400,ODD 236MA 2.560% 100.000 HY01/2022 1,440,ODD 1560% 2.560% 100.000 10101=3 1,470,ODD 2.560PA 2.560% 100.000 10/0112024 1,510,000 ZM4% 2.560% 100.000 10'0112025 1,490,000 15M 2-560% 100.000 10/01/2026 1,530.000 2, sm 2.560% 100.000 16,200,000 Doted to 10A8/2012 Dolivey Doto IWIS/2012 First Coupon 0"112013 Par Amount 16,200,000.00 OrigirW Is Discount Production 16,200.000.00 100.000000 UndcrwdWs Diaccamt Purchase Price IVOO.000.00 100.OWM% Accrued Interest NctProcBB& 16,200,000.00 EXHIBIT B ESCROW STRUCTURING ENGAGEMENT LETTER One Keydone PWA 717-2324M guts 3W TIT-232-7837 Rix K Fmrl A khdMI 8buft A 17101 717-2334N3 AWN& Fox she The PFM Group Haftbwg, P —W—W&Aftmm Wma-v~1 U-it September 7, 2012 Vivian I. Brooks Executive Dircrtor Boynton Beach Commurdy RiA[evel0l)=Cut AgCOCY 710 North Fed y Boynton Beach, FL 33435 Dear Ms. Brooks: The purpose of this letter is to confiun out agreement that PFM Asset Managetomt LLC CIPFALAW) will -save is Investment Advisor to the Boynto n Beach Comnixmity Redevelppm=t Agency (the "'Issueo in connection with structuring the escrow (the 'TAcrOVP related to the Issuer's Tax Increment Revenue Bond, Series 2012 (d3c "Bonds). As Investment Advisor, we will analyze and model akesnative Escrow structafts, coordimte linitial and find subscriptions for United States Treasury Securities, State and Local Government Serm CSLG8'J vith the Bureau of the Pub& Debt, Special lnvcsmw= Branch, and prepare such cash flow =d yield cgkolations as required by bond om=4 the verification agent, and the Issuer. By executing this engagement letbu, you hereby autborize PMIAM personnel to Subscribe for SLGS on belialf of the Ismu until the completion date of this engagement This engagement shall commence on date be bereof and is expected to completed on or ardund October 18 2012. Tbis,engagement shalt be deeMed to be completed on the date the Escrow is esta1blished. Upon the completion of this engagemetLt the Issuer agrees to M PFMAM a fee of S2,500. At the completion of this engagement, PFMAM will have no furiher rcapolu6ifity related to the investment of the proceeds of the Bonds. PnJAM is an mvestment advisor, rqptered under the Investment Advisers Act oft . PFMAM agrees that it will. not deal with itself or ' with any other dEliated company or individual in making purchases cc sales of sawdties Pursuant to this engagement, nor wffl we take a kmg or short position in securitim subject to purchase or sale in connection with the issuance of the Bonds. We confian that we bx" no` t in the issuance of the Bonds or the purchase or Bak of Escrow securities except as described in dim lw= ageement. We note that ovr affiliate, Public Financial Management, Inc. served as finnudal advisor to the IsBuer in connection with the issuance of the Bonds. PFMAM warrants dat it his delivered to the Ismier, prior to the execution of this letter agreemen4 PFMAAfs current Securities and ExdkuW Conmassion Form ADV, Paft 2A (brochum) and Part 2B (brochure supplement). 'Ihe Issuer acknowledges receipt of such documents prior to the execution of this letter agreenx= yo ma terminate dis agreenunt in the event of any material breach immediately upon written notice to PaMM. 9 s Engagemen Imtke Sqxember t consen Page 2 vAdxmt the of the Iwo= Pies.so home in sudacnind officid of the Iona zi�p a a)py of this letter wad rcu= it tD us to (ZoLk QMI.Ll Robert Cheddar Mansgi% Director Ampted Nme ride baxi's Taz ID Number Dow a 1 BOYNTO 1=00! wwwBEACH RA October 9, ComMMA I Agency. SITBJFLT: Consideration of Phnoludon No. 12-07 —A RnDkMon of ft Board of Comimlevioners of the Revolution Ismance by the Agency of $I 6.1WW0 In Principal Amount of No Tax Increment Bonds, 2012 to Refirwrice Me Agencys Tax Increment, Revenue BorwK Series 20M and the A~ Tax Increment Pawerwo Swim 2004 MWduring After 20A ApprovIng the Form and Term of Such Se4es 2012 Bond; Awanft the Sals of do Series 2012 Bond and Llbkkg Certain FhXMW In CAnnection Bond; 7heradft Appointing a Paying Agent and RegMmr lbr to Sodas 2012 Approving an Ewrow Dapoelt Appointing the Owner of Such Bond; Providing r do Creation of Funds and Awoun* and Providing An Effedlus SUMM"M An discussed at the CRA Board meeting an September 11, 2DIZ due lo a doclIne Public In Interest rates, the ClWa and CW& Financial AdWaor, i to reffhance the CRKs Series 2004 and Swim 2W5A bomb. PNC Bardc win chosen as the wicat responsive proposer and key tenne lnckxk I. The 2012 bonds we structured an a bank Icon 2. The proceeds Will be used to refund the Serbs 2004 mid 2W5A bonds & The City will guaranty repaymnit @kM*r to On Series 2DO4 and 20015 bonds 4L The 2012 bonds r meWre In 2028 ft some as the reflunded bonds 5. The Intored refe Is 2M% (as opposed to 4.5% on the roftExled bonds) 6. Hot Present Value savings; of $1,182,292 7. TW Debt Sondw payment savings of $2,822.W6 Iffe of the ken, over $213,000 annually over the first 12 yam of the loan. Resolution No. 12-05 was appmed by the CRA Board on September 11. 2012 Engagement i ncur Letler with Public Financial RhougemaK Inc. At the CRV Comin0selan meeting on October 2, 2012. the Commission approved PAsoludon R12-1 09 suAwNWng the CRA to Haim My Manager to execute the Guaranty Agreement. will. Resokillon No. 12-07 (MwAod) of the Boynton Beach CRA (a) auhAw the CRA to Issue Tax Irvement Raventio Bond Serbs 2012 In the I amount 6,1K000 to refinance to CRXis. Tax Increment MOM (b) approm the fbrm of the Sodas 2012 Bond and terms (Exhlbft 9 of HAsoblion .1 AGENDAS, 4i RA (c) maid #m sale of the Swiss 2012 Bond W PNC Bank I Origina Holder and Dds of Issue of Ockkm 18. 2012 with a MoWft Deb of October 1. 2028 Reso lution (d) appoint a FWng Agent mind Registrar for Series 2012 BwW as the Me of the Rrmnoe Director of IN CRA Refunded Bands OUM C or I Association as Emm Agmt. I I wW over $213.DW annumb In to *at 12 years, and a not pasent vshm oF $1.182=. i PROGRAM OR PROJECT: N/A RECOMMMATIONS/OPTIONS: Approve Revolulan No. 12-07 41 0 - wxaQ:�� Susan Hanis Finance Director - 201 1 RESOLtrflON NO. 12-07 A RESOLUTION OF THE BOARD OF CONOMSHWERS OF THE BOYNTON BEACH COWALUMT REDEVELOPMENT AGI04CY, SUPPLEMENTING RESOLUTIONNO. 04-04, AUTHORIZING THE ISSIJANCEBYTHE AGENCY OF $16J85,000 IN PRINCEPAL AMOUNT OF ITS TAX INCREMENT REVENUE BOND, SERIES 2012 TO RITIXANCE TBE AGENCYS TAX INCREMENT REVENEM BONDS, SERIES 2WK. A AND TIRE AGENCY'S TAX INCRMdENT REVEN� BONDS, SERIES 2004 MATURING AFM 2014,- APPROVING THE FORM AND TERMS OF SUCH SERIES 2012 BOND; AWARDING TEE SALE OF THE SERIES 2012 BOND AND MAMG CERTAIN FMINGS IN CONNECTION TEROLEWrM APPOINMO A PAYING AGENT AND REGISTRAR FOR 170 SERIES 2012 BOND, APPROVING AN ESCROW DEPOSIT AGREEAq AND APPOINTING AN ESCROW AGEM'; MAKING CERTAIN COVENANTS AND AGREJEMEWS FORTHE BENEFITOFTHEOWNER OPSUCHBOND, NOVIDINGFORTIM CREATION OF FUNDS AND ACCOUNTS; AND PROVIDING AN EMC7TVE DATE. BE IT RESOLVED BY THE BOARD OF COMMISSIONERS, OF THE BOYNTON BEACH COMMUNITY REDEVELOPMMU AGENCY: SECTION 1. DefidtiOnL Tom usedbercin andnot otbawise defined bavfn sk&have the meanurgs ascrbed Affeto by RasoMon No. 0449, aftted by the Ekwd of Commudonm on Devember 6, 2M (as wNdamented by Resolution No. 05-13 adopted by ft Board of Commisskm= an December 13, 2005, the "Base Resolatioe)L In ad4ftion, when used in this Resolution, the lbRowing twam dell have the fbilowing mw=Ss6 wh= the contma ckar�y otherwiscrequirm: "GuarrAdy m== the Guaranty Agmemam� dated ofeven date with the Series 2012 Bond, pursuant to winch the City Sumunteas the timly payment of the pmeWd and Jntcmt cm the Senes 2012 Bond, and which sball be in sulistantially the fonn attached homto as ExbW A- "Refimded Bondsm means ft all of tho Agancy Tax Incrennit Revenue Bom% Series 2005A end the portkm ofthe Agencys Tex Thorenuft Remmue Bond% Series 2DO4 maturing star 2014. "Series 2012 Bond" sbm& am= the Agencys Tax increment Revenue Ilonk Scn'es 2012, authorized pumant to Section 3 hawt SECTION 2. AM!hp�fbr This Rewhakm Tins RcsohAion is adopted pmaw to the provfidonz of the Act. SECTION3. Anthorizatim §_WTermsofScrjc*20l2B A.SeriesofEkwids entitled to the bereft proftefim and newity of the Ban Resolution is krcby maha&od in the prkmWamoumtof$16,195,000iwthcpincipalpurpowofprovidingfim&tortflmdtboRefimded Bonds. Such Series shall be desigesLud as, aW WmE be dkdogukbod fiona the Bonds of afi othor Series by the tith "Tax Increment Ruvenue Bond, Sezies 2012." The Series 2012 Bond Ad not be usued except upon complimeewthtbe requremeots offt Base RcsohAion forthensunime thereof as Additional Bonds tinreander. Tbe Swics 2,012 Bond shall be inued as a My registered Bond in the prircipal swount of $16,1 85,0M; shail be dated the date of lis initial isumme and deHva% and dW have such oflw tem and provwoox u set ferth in the fi= ofthe Series 2012 Bond athwhed horde as ExhM B. SECTION 4. LAgML@W Rq&bw ffDr Series 2012 Bond. The Agency heraby Wonits the Office of the Funwe Director of the Agency a the Paying Agent and Rggmtmr with respect to the Ser1w 2012 BorA SECTIONS. Award of ftaerl 2012 Bond. IU Agency hweby deterromw that a negodawd sob of the Series 2012 Bond in itt ft best hured afthe Agency end the cidz= md Monte of the Agency beemme ffit Agency mm obtain *c best terms through nogoushom Tho Series 2012 Bond W" be gold to FNC Rwk NationalAwdation. Prior to the ismsaice ofthe Series 2012 Bond, PNC Bank, Nationd Association sh&V Me with the Agmey the &wlmm sequired, by Section218.395, Florida Statutes and compatitivebidftfor the Smics 2012 Bandis herabywAved pmusnt to the wftrlty of Section 219.385, Florida Stalutm SECTION& fRefiludadEWnds. MwChedris authorimdauddhwoodibr and in the nun of the Inuer to exiwate rmd deliver un Escrow Deposit Ajlrecmon� in W*=Wy dw isrin anwIted, h=bD as Exhibit C, to provide fi)r the refitoding and redemption of the Rcffinded Howh6 with such changes as doll be approved by the oflicial executing the mw consiatcat with this RaDlutbu. such execawn to constitute conclusive evidence of such Woval. Me reseer hereby appoints U.S. awk National Msociation as Evezow Agent pursuent to the Bwow Deposit Agreemenr. 1U Jww hareby nrevocAW ekc% cffwftn upon and only upon the Issinnee ofthe Sedw 2012 Bonds, thd the Rchnded Bonds shall be called for radmrption on such dates and for wach prkas w spooWnd in the Escrow Deposit Agreement. T'he bsuer hereby appoints The Arbilnige Group as the mikpondws =Ufwd public wcounUft to verify the cakulabors of the suftemmy of mounts to he deposilad Fmant to the EsezowDej=kAgreemeattopaythepruicipal, pranumn. JfW* andwerest onthe RzfimdedBonds and to vm* the calou1stions of the yield on the armumb himted pursuent to dw Escrow Deposit Agreement, an the Refiesded, Bonds and on ft Series 2012 Bon& SECTION 7. . . of Sgda 2012 Bond Prommia. Procoodskom the sak of ft Series 2012 Ronds shallbe ippliedto makethadeposit to the Es=wDcpoA7hmtFondwxoq4fi*d bytheEscrow Agreemork andthebalance shallbe appliedto psycoaft oflosuancoof6a Series 2012 Hond. SEMON S. Ewud=A!L �6�of t�hqgft The Chair a hareby andwhod andditectsd onbehdfofthe Asimayto executathe Smite 2012Elondnprovidedheivin, and such offbial in herely =dwized and directed upon the owcutim of the Scries 2012 Bond to dehm the Seem 2012 Bond k the amunt =&orized to be issued hacender to the Rqostmr hr authmdastion and delivery to or up= the order ofPNC Bank, Nationd Association upon peymeat of the purebase price at ft& hazin. SECTION 9. The Q11 IU Scries 2012 Bond shaR not be issued wdm the City diall have executed and delivered the Guaranty to &a Agency and to PWC BwA; N96DIMI Anociatiom if at any thne the fizods avaeble fm the payment of pdwipd of and interest on the 2 Swim 2012 Bond shall be ftwefficied for such parpow, dm the Paying Agent or the Holtior ofthe Swim 2012 Bond shag rualm demand on, the City pursumit to the Gua b In the event the City shall, malte payment ofpdmVd ofor intarcot on the Sexies 2012 Bond jamunt to the Guaranty the City shall be sufrogated to the dghts of the Hoklar of the Series 2012 Bond to such payment. in the vvmt the City makes a payment po to the Gumant and the Faft Agat or the Agency has Amds (other dw such amount paid by the City) to make the dolit amice psymaA on the Serim 2012 Bond to wWch the Citypsyrom relates, dm the Agency shgA or shell cause the Paying Agatt to, PrOMPtly rtfiMd to the City W1 money pafd kr the City not n=W to make the debt Navin payxnent. SEMON 10. Socuitv for Serics; 2012 Band. The payment of the primakpa of w2d interest on the Series 2012 Bond shag be assured ibrthwith equally and ratalfly by a pledge ofthe Pledged Funds on a parity with the Agena" Tax Increment Rcvcme Bmds, Taxabile Series 2005B mued parsuptut to the Base Resolution, tbr. on-reflanded Series 2004 Bonds aral the ParityNots; provided hewom, that the Series 2012 Band is not priable from or cankled to the benalk or security of the 2004 Subaccount ofthe Rosave Fund or the 2005B Subaccount of&c Reserve F=& Provided that ne casm y to be used to satisfy the Agency's obligations hereunder aud thereunder 1br any lawfid purpose of the SFAMON 1 1. Funds and Accounts. 7be Serks 2012 Bond shaD not be secured by any accor accoinit: m do Reserve Fund ad the Rosom Fund Repirement for the Senes 2012 Bond sh&U be SECTION 12. Finismosil. lufunnation to Be Provided to Holder. Too Agency shall within 21 days afta the end of ewh of its fiscal yam fisnalsh to the Holder of the Scriss 2012 Bond flostvial stalemenh of the Agency for ouch fiscal year, together with an sudit report of an Independent omtL&d pubho accountard to the effict that such audit hu boon condmud in report gtawaly accepted asulking stesulards and stating whether such fimacial statemena prescut &W in nR material regmets the financial Position of the Agency and the resufts of its operations and onalt flows ibrthoperiods covered hyft audit SECTION 13. General, AMP�Lfty. The eaccebers of the Bowd of Commiss Agau;A offlom t4tommys and other agents and cimployace are hereby adhorked to do al am and eft the fi4 punctual and complak perfarsunce ofsH oftba tmm. covenants and agreements contained in the Serim 2012 Bond, this Resolution and tho Base Resolution, and they are hereby excade and deliver aR doaments which ftU be required by Hand Counsel or the it" purchaser of the Series 2012 Bond to effectuate the sak of the Saxim 2012 Bond to said initial andmiked to purchasers. SECTION 14. No Personal LMflky. No representation, fftetcoiceir, covicnant, warmnry, stipidation. obftation or agrecoeent hereincontainod, or conbdned lathe Scries 2012 Band, aria my of the Series 2012 Bond, dzU be deamad to a wamnly, stietflat or agent of the Agency in Ws or har indivkWel 6 ! and nona oftho Jbragoing persons nor any officer of the Agency axecuft the Series 2012 Band or ony cardficate or other instiument to be mwculod in ooneection with dw issumoe of the Serics 2012 Bon(l, OW be Hable pmwn* thawn orbe mbjwt to anypenonal Hability or accountelftbyremn ofthe execudanordelivoythereof SECITON 15. gg Party2awficiarm EkoW each otber Pezvons a may be eqxwdy desedInd herein or in the Series 2012 Bond, wthing im this Resolotion, or in dw Saxics 2012 Box4 wqw=wA or znph4 is mtmded or shall be mmzfted to cox&r upon any Pawn otber d= the Agency, mW hmmw, aoyCredkBank andtbe Holders anyxight, remedyar clun; lqd orequkable, under and by romon of 06 Rosokdon or any pwviiian hmof, or of the Scrics 2012 Bond, all proVANXIM hereof and thacofbeigg idwded to be and beft fDr Me sole and awkdw bansfit of do Apacy &W *c Persons who " fiom time to timc be the HoMm. SEMION 16. SwerabMix of InveW Provisiom If any one or mom of the covcnmss� agreemcnts or provisions offbis Rzoolation aW be hold conkazy to wW mqms providon oflaw cw oonhW to the policy of mWeas law, &mgh not =pw* pmhM4 or apk& public policy, w sW for any reason whatsoem be hold invoK d= such covenants, agroomw* or provisions dwil be m& ad void and shall be deemed, sepmble Rom the maming wvmnts, Weemosts and provisions of dis Rezolution, and abaU in no way afiect the vdft of any of the other coveriants, agreaments or provisions hwoof or of the Series 2012 Bond issued hereizaft. SEMON 17. 9 of1wondquat Rwohifions. Altresoludow or palu thereofin conft herewith me humby ffqxnaded and repealed to the extent of =6 cordlict SEMON I& ffead t - preceding the wmal articles and no Part Hereof The headings swum hwwt " be solely fir convenience of reference; and dmR not consmute a pw of this Resolution or affect ks nxmnv*,, corenruction or affect. SECTION 19. EfiecOve Pgk 7ba Rmhdm " become offectim neeneft* upon to PUMP. PASSIED AND ADOFM 31M I Ith DAY OF OCTOBER, 2011 BOYNTON BEACH COMMUNTrY REDEVELOPMENT AGENCY Chair APPROVED AS TO FORM AND LEGAL SUFFICIENCY. Agaircy AIMTney 4 EXIDBITA FORM OF GUARANTY GumntyAgreasnent The City of Boynton Bacc4 Florkle (the "City") malms this Guaranty AP=maed (this n(luerady"), dated October 18, 2012, as foRows: L Guamnly. 11c City hereby guaw"es the 111 and prompt paymient whav, due, whether by accelerefion. or otherwise, of the principal of and interest on the Boynton Beach Conummity Re&wADpmc*Agem.yTaxhxrcnxntRcvmw Band, Series 2012 (dw "Bond issuedofaven date hmwhh in the P*M*d mount of S j rnot oweeding $17,000,000]. 2. Goveming Law. 7U City hriber agmes that Ou Gumanty WmAbs govemod by ad construed in ecomtance with the Invus ofthe Stift of Florida, and is pafimable in the State ofFInri& 3. Deflafflons, Tam used herdn and not otherwise dchwd bmvk have the mmaiRP BeCtilmd thereto m Resolution No. M-01 (the "RmohdiW). adopted Deemriber 6, 2004. by the Boynton Bewh Comennnity Redombproant Agency (the "AgencY), as amended and mffkm%xd4 particularly by ResoMon. No. 12- adopted by the Agzx7, on October 9, 2012. 4. Termbation. Ttds Guaranty nay not be amended or ternfinaW by the City for so long as the Bond is Oubtakfing. s. mnanchd and Other Labxnmdon. The City aFm to fixomh the Agency with mwh infivroatim regardug the Cdy as may be requested by the Agency in order to on" ibc Agency to comply with its obliptions pumunt to Section 5.13 ofthe Resohidon. 6. Guanwtor Duties. For so Ions as Section I hmwf is in efiect, upon receipt oftakphonic notux� such not= sulvaquently confimxd in wntmg by regmtered or ccrbW nadL or upon reezipt ofwrkmu, notice by registered or earti&d =4 by the My from the Rokler ofthe Bond Out a delt sav= paynad on ft Bond required to have been made by the Agency has not been maxle, dm My wkhh one Business Day after receipt of notice of swh nompsyroem will pay to the Holder of the Bond Am& sufficiml fi)r the payment ofany such peranteed =ounte wt&h are then dLw. 7. U=Itcd0hHpflwL NotwillotwxIM9 anyotherprovM-nofthis Guaranty, the Ceyknot and da not be lishic fDr the paymem of any =a= hawnder or fur the paribmance of any obligation or agmeneent hartunder Arom any source other than the O Non-Ad Vabrom Rovennes" approprated fDr such pmww in the nwaor and to the extent dmwlW in this Secdon 7. Ile term "Non-Ad Valtaven Revenues' ranaw all menues oftbe City derived ftol Iny KRM other than do excivise offt ad valorem tvaung power ofthe ChN but only to the orbant the as= =y JawWy be used to mkz payuccow haumder No person or entity dzU hwe any nght to woort to legal or equitable noWn or revanice to require or compel, the City to malm. any payment hereunder from any wo= other dm auch Non-Ad Worem Revenues. The City covenants that should it be mptirod to realm any payment hereander it will Wtopriste in b annual budge% by mrcn&xa� ifreqWrod, flom Non-Ad Valorem Remm, smut" sufficiotd: to ronlae suchpaytocat. t lathe event that the amountpreviouslyhvigded for suchjuapma anytim is msWaciml to make my payment requh to be made horeander, the City covenanis to take inanediate actim to amiard its buditet so as to budget and appropriate an amount Dom Non-Ad vabram Revenues sufficiat to makc such payment. Such covenant to budget and appmputc from Non-Ad Valorem Rempenues shall be eumobfive to the extem not pag said 9W conthm uraff such Non-Ad Valorem Revemues sufficient to make nU reTiked payasena; base been budgdVd, Wroprisied and used to make psymenis requked to be made haerscla. 41. EnforeameaL TU Ouansnty may be enforced by the Hokler of dra Bond, which is a beneficiary of the pmvidons hmwf IN WfINESS WHEREOF, the uafirs*ed has caused " Guaranty to be exemsted as ofthe 18th sky ofOcWbev� 2012. MY OF BOYNTON BEAM RA)REDA By. Itficitymmmer 2 EUMIT $A6,185,000.00 BOYNTON BEACH COWUNITY REDEVELOPMENT AGENCY TAX INCREMENT REVENUE BOND, SERIES 2012 h4xtu&v Daft Imared Rate Daft OfQd&M Iqww 2.56% F 2012 October 1, 2026 Re0steted Holder: FINC Bank National Association Pr=4m[ Amount: Sartm Midion One Hwdred Eighty-Five Thousand and 001100ths Man; KNOW AIL NIEN BY THESE PRESENTS, did t1w Boyaw Beach Community Redevelopment AgcmT (ft -Apnoy"), a public body corlxmtc wd pokk aiested and amatmg under and by virtue of the kwo oftbe State ofFb*k far vahe rocebvil, hemby pwmim to pay, solely fiam the sources ofpayniect henioafter dewHY4 to the RWdmvd Hokler Wentilied above, or regbUxed owigms as herainaflor provided, the Pzinci;wd, Amount kkmt&d above on ft hbtudty Date ideulffied abow. s*oct to pdor prepayment as Itereinalka provided, togetber with mterest an such Prizw4W Amount 11mm the Date of Original Usue kkmtiftd aWvc or Rom dw most rooW umvet paymuft dam to which mftrW has been paid, at the Interest. Rate per onom (calcukW on tk basis ofm 360-day year oftwelve 30-&y monihs) kientifwd above (subject to adjudracm: as herek provided), prAble in arrears on April 1 and October I ofeach yur waxnewing Apff 1, 2013, until auch Prin*al Amount shall have been paid or provided for. 71m prh4pal. hereof "ll be mraid in inshWbnents, due on October I ofthe yon and in the anwunts set forth in the fb8owirg bd&-. Yaw PrincjW Due 2013 $143,000.00 2014 117,000.00 2015 B99.000.00 2016 927,000.00 2017 1,265,000.00 2018 1,300,000.00 2019 1.33 1,00D.OD 2020 1,367,000-00 2021 1,397�000.00 2022 1,439,000.00 2023 1,471,000.00 2024 1,SI2,000.00 2025 1,487,000.00 2026 1,530,000.00 Such Principal Amount and mtered mad the prepayment pwalty, if any, on this bond payeble in any cola or currency of the United States of Ammica whi* on the respective daft of paynient dmweog dall be legal tander for the prjmcnt of public and private debt; and sball be made by wire Umsier by the Agency to the Registand Holder in accordance with written kahwtions Provided by the Registered IbIder to the Agency, or in such other manner as may be apwd upon by the Agency and the Rq0u=d Hokler. As used in this bond: (1) , Code mwee, the Internal Revenue Code of 1986, as araendW, and any Trmury Regulations. whoom temporary. proposed or &A X=m4ated thormoder or applic6lo thereto; and (2) Meteamantion of T=MW romas a feel doWninawn by the hareal Revenue Service that mmy interest on this Bond is incUlable in the grow it== of the Registered Hokla under Section 103 of the Code. While this bond rommas outstanding, upon the occumv= and during the oontintatnee of a Determination of TaxabIty, the intercut raft borne hereby " be adjusted in such manner as shall be dotmainedbythe RASWered Holdc4 abated meeiflot wror, as "be necesearyto provide to the Registered Holder on aiker-ax yield on the then oubanding prkcipid amount ofthis bond equal to the after-tax yield to the Resistaied Owner, ff swh detammation had not heart mada, lbun the date mL-,h kww mist be included in such grom moome. TheAgency " also rchoburn the Rqpstered Holdw far the dMbrence between (i) the interest conputed at the adjusted rate from the date interest on this bond is inclexied. in gross income to the dab of seen payrnent, and (h) the irderest previously pa id on tW bond at th u wdjmted n1c, abog wth an costa, cq==, penalties, attorneys two and 01 other lowas mcwTed by the Rzgwtmd Holder as a result ofauch Detanninstion ofTaxability (but not due to any negHgal delay of the Registered Holda), within 30 &ys after &a Me a written notice (ineluding a oopy ofibe Deteamication of Prazabilty) is delivared by the ftistared Holder to the Agency stathig that such a doterraination has been made and gud*g the amount that k than due. The obliption to paysuch additional interest and such othercosts, topmnes, penalties, attomaYs fim and other losm shell survive the payment of the prhcipd of dis bond. TNs bond is subject to optional prepayment prior to the due dates set forth above at the option oftbo Agency, at any time and from than to time, in whole or in put. The prepayment &W include the priecipal being prepaid, the Interest accrued flumn to the prepsymeft date, plus any Rederoption Price due in accordence with the following provskm. "Rodeuption Price" miss an amoun CqU t th pragnot »° ` , oftbe product of(&) the diffenam between (i) the yield (ft "InKW Yield"). on Ow date of this boral, of a non-caMle U.S. Treasury obligation with a maturity olosest to bit tot later than October 1, 2026 man (H) the yield an the prquyinent dar, of a non-c�lo U.S. Trwaury oblipdou with a mahnity clo" to but not bitar than October 1, 2026, ad (b) the Wb*d amount to be prepaid, and (c) the number of years, behaft Iluctional years. from the propayment date to October 1, 2026. The yield on any US. I!mnstny obligafion, shaH be determined byrefirenoc to Federal Reserve StatistiradRelcosel-LIS(519) dSelectedlatcrest Ratca." For p tbelkitialYield "llbe deemedthe ducountrate. Propyntents aprinctal &bell be applied t s o the scbedulad payment due hereon in the imarse order Qf their due dates, or in mwh other mw= as the Avw anil ftistered Holder my agree. This bond is issued under the authority of and in fidt conteliance with the Constitution and laws of the State of Florida., pwticuliarly ChWer 163, Part a Florida Statates mid other appUmbic 2 provisions of law (the "Acn, and Rosohdbn No. 04-04. duly adopted by the Board of Connniusioners of the Agency an Decordber 6, 20M, as smari1ed and sWicaunted (the "Rosolution"), and is subject to all the terms and wnditions of the Rewhition. It 'a hmby cwbfiW and meted that all acts, conditions and prareqm1cs requirW to mixt, to happen and to be perfDrmed p=e&at to and in connection with the iouance ofthis bond, cidst, have happewd and have been perfb=4 in regular and due lbrm and time as required by the Conditution and bm of the State of Florida applicable thereto, and that the wuanco of the Bonds does not violate any constitutional or statutory Hmitations or provisiouL This bond shall not be vafid or bwome obligatory for any parpose untd the cartfficate of wthwheiffion hmon shaU have been mannaBy signed by the Rapdrar IN WrrNESS VIMMF, Boynton Beach Commmty Redevekqmwa Agency, has usucil Us bond and has cwmd the mm to be ancuted by the maual signature of its Cbsk as offt I 8th day of Octobex 2012. BOYMN BEACH O0AGAR4=REDEVEL0PAff-NT AGENCY chair CERTIRCATE OF AUTHENTICA77ON This bond is me of the Bonds of the inue dowribod in do wid&-mentioned RexolutiorL DATE OF AUMIRMCATION: October 18, 2012 OFFICE OF THE FINANCE DMECTOX as RcgWm Authorized Stastay 3 E)amrrc FORM OF ESCROW DEPOSIT AGREEMENT z%MMDRpOSFrACMKEwW THIS ZSCROWDEPOSITAGRURMENT (the - Agreumid'),is datedes of0dober 18, 2012, wd is by and betwan Boynton Bauch Commmity Radevelopmetit Agency (the NASmw^ aFbrikmmkdpft,imdUS.BankNaflondAmociWan(tbe amiockdo% as Escrow Agent WITNESSETM- VAREREA.% the Agency has datertnined to advance-refund. ks Tax lumemeal Revem Bauds, Series 200SA(tbe - Seriw2005ABondan) and its Taxbc;rcmcntRzv=o Bon&, Se ='2004 manuing after 2014 (tbe "Series 2004 Bmx*" ard togcthw with die Saics 2005A Bonds, the Mamded Be"), aw WHERMS, the Agency hu ddamhud to provide for dw paymest ofall of the Rahnded Bonds punuml to thb Agreancat; NOW, THIMMRE, in con Wemtioa of the Ibrewing and the muttua eovermn herein set forth and in order to ume the payment ofdw prineW ofand hatereat on the ReAmded Bands, waardiag to their tenor and offict,, the Agency does by thm presents h=by deliver to and Sw:e, gat, RSM'P and pledga to the Ewww Agm and to its mweawars Mi the Eacrow Deposit Trust Fund haraby created, W to it and its aawVz Ibrevai; all wA siegular the property knbaitcr deKdbed, to wit: CLAUSE L All rj&, title and intaost ofthe Agency in and ta $17,196.608.13 deposited by or on bdulf of the Agency with the Escrew Agaut hammdar. CLAUSE 11. All risid, title, aW interest of the Agency in and to the ciovernmew obligations putchawd km the monqs descrtwd in Clause [ abov& CLAUSE HL All rigbt, tide, and interest oftbe Agency in and to id cash hdances hold *am tiaw to teft herewuler and all income and earzings derived fiam or acmumg to the Gavenazow Obligations descrivr! in Clause El abova CLAUMIV. All (i) propaW which is by the express provisions of this Agreamnt required to be ankiect to ffiepledge humf and W) additionalpropatyof everykind andnatimthtt we% ftmtimto time hereatter, by delivery or by writing ofany Jmd, be conveyeA pledged, assWaad, or ftwskared as and for additiond wourity hmunder ar to be auWd to the pWV hawt by tha Agawy or by aMow its , is audmizad to . tkne as additiond in accurity £ HOLD, To HAVE AND TO ' in trust Mwerftlesk Won the terms and tnists k ,. \. ,\ . . devadled , | but or «, 7 with the term tlwwf and bereag then this Agrement shell % ., mfted to . covenants and condwas he rem a ter Agreement, ARTICLE I Section . as used . . %. , " e I ' & following , : , plainly , . "Escrow Phrases shell have the Deposit e , , Section .01 oftbig Agreement. "Government Obligations" the , . of r U.S. or suchotherpaying agent for the Refunded Bonds as maybe serving from time . , Unim the contaid shall genders. Section 1.02. Uses of Phrases. worh of the tnesculino gaeler " be deemed end otherwise , , words . . . include ARTICLE 11 ESTABL M NT OF \ : ; _ Section 2,01, Creation of Fmnw Deposit Trust Fund. / _ "Escrow catabbsW with the Escrow Agent a special and brevocable fta fimd Deposit t . othor finsle ofthe Agency or the Escraw Agent. Section 2.02. Deposit to Eacrow Deposit Trust Fwed- Cocourmfly with the =000tim ofthm Agrearecat the Agency has deposited or cavocil to be deposited with the Eacrow Agent and the Emow Agent acknowledges reocipt of koxnediately avabible monos in the account of $17,196,608.13, DqwWt Trud Fund pmusint to the preceding scotence shot except for a rcmdon cash balance of $4.13, be finmediately invested by the Escrow Agad in the Government Oftations descn on Exhibit A. Soodan 2.03. AppUcation of Escrow Deptsk Trud Fund. JU Escrow Agog " apply the Government ObUgations and other moncys deposited m the Escrow Deposit Tnw Amd, together with all Income and earnings thereon, in woonlence with tk providens bawL Tbo Fisaw Agert Mm or make suibsfitutions of the Governavert Obliptions, hereunder or sell, s or otherwise dispose of the Government Obligiflons or mmmys held Trust Fund shell constiftft an irrevocable deposit for the bmc& of the hokkn of the RefinAtd omminp an the Govennuvot Ob4ations mid odmt moneys held in the Escrow Deposit Trust Fund hereunder until o ExcW as acquessly provided herek the deposit applied carmags thereon and offer moneys "I be hold by the Escrow Agent and used o* lbr the purposes awl m the rummer provided in this Agreemem Section ® ` Redemption ofDolbased interest Bands. The Escrow Agent: shaR ure the funds In tho Escrow Depost Trust Fond to psytimpuncipal of and on the Reikaded Bonds on the dates and in the amounts as shown on ExhM B. TIM Agency urmoca* calk the So= 2004 Bdeds as shail than be oriftumeliag jhr mdemption an October y 2014. • Deposit Trust f bad, W expense of the Agm7, mi C-1 0 to aU S in the form aftched herew as ExhU* C-2 to all registered ownem ofthe Series 2MSA Bands, (B) at JaW Wiry (30) dqs befim October i wqxme of the i a notice of 2004 Bon& to be radcoeW at their addromes as they appear an the regktration boc&s lor the Refimded Bonds and (C) at lead thirty (30) days before October 1, 2015, tuall, at the MTEM ofthe Agcocy, a not o f re suixtu in the form attached hereto as Exbft D-2 to aU registered oveativ of Series 2OD5A Bonds to be redeemed at their addzuses as they appear on the registraWo books for the Refim&d Bonds. The Agency agrees to pay the remnable expenses incurred by the Eyerow Agad m imposedbytboRefunded Paying Agent a a rend ofaWb* haranatim tothe Escrow Agemit ban be paid by the Agemy from available lhads, and shall not be imposed upon the Escrow Agent. Sudan 2. 06. Trander of Funds Alker Ali Payments Rapdred Made. After all 1he . . .| t . . . of and rcmakang mancys In the Escrow Deposit Treat Agency, be hwnferred to ft Agency by the Hamuw Agent and mhaU be wed by the Agency for =W kwfd mapose oftbe Agency . written „ ofnatiocally rowguized bond counsel. The Escrow Agog AzR have no . ! . application Agency as provided above Section , Delliciencies. If at any time t the Deposit rodlalAo fim& in the Escrow ! be saflicient to make any payment wben due to ft own= of any of . the Escrow Agcmt OMU promptly as possi1sle ,r wdl deposit with the , amounts sulficient to ` <! Bonds. &fWk so that the Escrow Agent vnU hm suffmicat Amds to make such paynot on the Refunded The Emaw Agent diaN in no mmw be rcaponable fDr de: AgaWs h&w to make such Section IOL Escrow Agent Wee. The Agency hereby agreas to provitio fDr ft payment, , > e , which . paid at such tkws and in , it E. In no ovoist shoLU the Escrow Agent haw aW bev; socutity interest or rigbt of set-offwhatsoevor upon any ofthe moneys or inveshnents in the Escrow Deposit for the paynoot of such cor*ewnfion, or f the payment or rcizabu I aw cqx=es inearred by the Es=w in ` this s me Sudan . Reloaded Paying AgmL The Esmon Agog abg cooperate with cause Reloaded Paying Agent to neccamy arrangements to wher-aby flinds AaR be made avidiable by the Escrow Agent to , CQMC ZNNMWIL - , 011AabUlty6fKAUGwAgent ThCEWWWAgWtdN¬bCH"iMCOM=tiOn with the perfDrmanee of its duties hicrounder =mpt fur its own negligence, ! n I wiffid Uz Escrow Agent AW not be ledde ! cakulatmos .,. y of mmvp to . So long as 11s: Esmm Agent applin aU moncys to make payments to ` inded Paying Agent to pay the Refiended Bonds as provided hereK and Complies My with ffie terms this Agreement, it ! Hoble ! . . in emmay to p the Reflinded Bonds caused b such caloWati The Escrow Agent shaff keep such books and records a sball be consistent with mdustry pmtxv and shell mde such books and records ¥ < for inspeebon. by the Agency at 0 reasonable tkncs. In the event of the Escrow Agent's hilwe to wwunt for my of the monm rectived by it, said moneys shall be and remin the property ofthe Agency in ftud for the ownws of the Rofumded Bonds, as herein Provided. nedutm andobliptions ofthe Escrow Agent shalibe dacrminodbyt:hccqz=provnkxns ofthig Agreement, mid no implied covenants or obligations 9W be read into &6 Agreenumt against the Ewxow Agent. Ile Emow Agent may consult with kTA counsel with respect to any motto relavarut to this Agreemm� who nay ox may not be counsel to the Agency, and be entitled to receive fiomtbe Agencyremdxtrsemak ofthe reasonable ink coft and expenses ofach Ind counsel, and in conclusive rcliance uponthe opimon ofsuch legAcounselbave Mand cornplete withorm and protection in respect of any action tdmg% suffm-ed or oofted by it in pod hith in accordance thervwhk VAcnew do Ewow Agent don dwin k nocessmy or desirable that a matter be proved or established prwr to talmig, sugmag or onsittmg my action under this Agreenzat, such mou may be deemed to be conchmv* established by a vartifloate signed by an wthorized offmar of the Agewy, owl the Ewmw Agent may in good fidth concksively rely upon mwh certfficale. The Escrow Agent may act through its age= and attorneys. 7U Escrow Agent may amcludycly rely Won and aball be fidly protected in wtkg and relying upon any notice, orft ralinaftion, requmiL consent, cartificate, orft opinion (including an opinion of counsel). elfidev% lettw telegrarn or od= pqw or document; in good fidth deamed by it to be genuine and courect and to have bmn signed or sent by the proper penon or persons. Any paymmat obhgation offt Escrow Agat hereunder ftR be pwd fiom. and is inked to fitads estsbfishod and mamukwel taxler this Agramnent, the Escrow Agent shal not be reqWnd to cqxnd As mm funds for the peribrmance of ds duties beveunder Nobvibstanding any provalon hwan. to the conftw7, In no event shan the Escrow Agent be Hable for spe*I, firect or consequadIkIlow or dammm ofany kind whawcvw fthelliqg but not fimited to kat profits), even Kthe Escrow Agent hu been advisod offt likefficiod of awh low or damego and regardlew of the form of achon- The Escrow Agent: shall. notbe responsible or liable Ibr any fidbw or deky in the perbrmaim of its oftstions under this Agreement arisiag out of or caueed, directly or indhoofly, by efiramstum beyond its reasonable control, fticluelin& without lieckajap, nots of God; cwtbquakes; fire; flood, hurricaws or otber storme; won; tworimA similar mffitary disturbancei; sdwt , qp q*lcmw; panda=, flots, interruptions; Jkm or malibnotioes ofutifides, computer (hardware or ooftwart) or connnimicaMms services, aecklents, hbor disputes; acts ofcivH or mUgq auffirerity or governmental action, it being understood dut dmEsaow Agent shalluse commmaslyrtasonable affirm which are consistentwilb, accapted practum in the banking Mustry to resume perkrzaaace an soon as zessonalily pmeticable under the ciminnatances. Secdow 3.02. Persaitted Acts. Tle Ewxow Agent ard its afffidw may become the oww ofor may deal in any cbl ofdw Agency described harok as My and vlhh the smm r4* w if it ware not the Ewzow AgcnL Section 3.03. Resignation or Removal of Fkwow AgenL 11c Escrow Agent may not resign or be remove& Nectlan 3.04. Brokerage Confirmations. The Prdes wJmwkdgc that to the extent regulations of the Comptrakr of Currency or other applimble regulatory entity grant a riglit to nmcrm brokerage confirandons of secarky bunnetions ofdm cwmw, dw putes wwc recoelpt of mzh comirtnations, to the mdaw permitted by law. The Escrow Agest " fimmh a audement of seen* twoctions on its relpJar mouddy mports. This leeguege alimbratce the need to wad himtment confirmations ea& *w a trade is cmuted in the awmw amount, and abo clhmkmtrs the nud Jbr a gapgmte letter fiom ft partics waMM " requirement. ARTICLE IV Section 4.01. Ansaudwents to this Agreement. TbisAgreement is made for the beneft of the Agency and dw owners from time to fte of the Refinded Bonds and it " not be repitaled, rmakad, aftered or amended without the wnttcn consent alt such ownm, the Esmw Agent and dw Agency, provid4 however, that do Agency and the Escrow Agent. may without ft consent at or notice to, such ownen, entar iftto awl agreements s t upplemental to dis Agreement as sW no adversely affect the riglits of suh ownem and a sW not be inconfinent with the tam and previsions of this Agreement, kT any one or more of the following purposes: (a) to cure any ambiguity or defixt or emission in this Agreement, (b) to put !,I conift upon, the Escrow Agent IlDr the benalt of the owners ofthe ReAwded Bands, any additional dgbt% remedies, powers or vAorily thatmay lawfi* be grantod to, or couftTed upon, sud owners or the Eacrow Ageng and (q) to subject to ths Agreement additional fimds, secuntics or pippenies. The Eamvw Agent shall be catitled to rely c=kudv* upn an unqual' l. ed opini W , on of Mark R. Raymond or other nadonay recogiumd, bond with reaped to comphaace with ths Swtiot4iwWdmgtbamacti4iftowhwhanydnnpmofiwtum,n"UnnorckmaabmafixM the nobts of the ownem of dw Ruhmded Bonds, or that any hainnuent awated havundw complies with the conditions and provbiuns of ft Seetion. Section 4M. SevemblUty. Many one or morcofft covenants or agreements provided in ft Agrement sbould be daternAud by a court ofcompdentjt�ion to be contrary to law, such covenent or agreement sball be deemed to be sepm-ate and slaR in no way affbot the validity of the remshft provisions of tbir. Agreement. Section t83, Agrement Binding. All tbc covcnanW6 promises and agmements in ths Agreement contakcdby or onbeludfoftheAgercyorbyor onlidalfofft EscrowAgent ftlibind and vem: to the bentlit oftheir rogiectrm summers and ass4m and to the benefit of the ownen of ft Refimeled Bonds, whcdw so expressed or not. Section4.04. Termination. Thu Agreement slailternimale upon and when al tranalbri and Section 4.05. Gemming Law. Thu Agnxmxzd shall be governed by the apphaMe laws of the Staft of Floxida, without regard to conflict of kw w counteiparts, each of which sW be. rcipmAW for &U purposes as an wqp* aW all of which, togeffier, WmIl constitute and be but one and the azzme u _w . ins follows or to such other aftem finnimhad in writing by any of dw followmg to all of the fallowing: If to the Agency- Boynton Beach Commmily Ralevelopmant Agency 7 10 North Federal Wqgmay Boynton Bcwh, FL 33435 If to the Eacmw Agent: U.S. Bank National Asmolation Corporate Trust Smicam 225 E. Robbson Street Suke 250 Orkmdo, FL 1 By- vice PreddCat EMBITA GOVERNNMW OBLIGATIONS TO BE PURCHASED Sv 1Z [ 11-39 16 t Type Of Type Of malsity awthit Par Max him Debt 074 DSRJ� EW 1 1 . M UM NUM 1 , 32 101,20 160 1=3 191M 0 y SL13S NOW 04 M2014 ftV I.PM 13 19 OLIN% 1 SLG9 mob 1010 1-2014 04MI12013 365 93 02M 02M 1@ 13 00 14013 11 1 M 10,01,2013 268,759 W 04100014 1 3 269,142 O.l SLOS Nab MIR2014 ONIM13 ___ 0220% 02M SLOS RAW File 1 12SEP Total C=Ewd= of buicWtibca 1, Totallialce TOW original SLOS 13 1 SW 12,2012 11:39 4m Pr4nnd by PMMQ FloWdal Mmog=Mk I 12) Pop 17 ESOM DESCAUTMNS DKrAIL DqpM HaWh COMMAy RWG"bpNWd AWW To hmmot Rz&W* Rm-emm Ewdi% &dm 2012B TYP af Typeof Matodty Fimift FM um SWA* am Date RmtDW Anxmtd Rift Rate 2MA CZWSA� ® Oct 1% 2012: SLOB cadflam 04/Oli'2013 04/01=13 2,W O.IlW6 0.110% GLGS cuffmoft 10 1 OlOV2013 2.503 O.ISO% MlSO% $LOS NO" 04- 04/01,'2013 %sw 0.180% 0.12M EM Note 10101, 2014 OVOU2013 2,509 0220% OMM SLOB Waft 041112015 04MV2013 2JI 1 HIMS mm IM 201 ie i .300% 0.300 134,M GbAd Ptoow& Rsamw, Oct 18, 2012 SLOB Catftdc 0401.-2013 ONW013 6"91 M 10% W10% SLOB ccdmodu 10.'01,2013 IMU2013 60,106 0.15m mm mas NCO MWOM 09WOM2013 6%193 miw% OJBD% SLOS Naft IUMD2014 0001=3 60,246 0220% &220% aws. NoW 04,012015 04'01 60,313 G.M% 02M SIM NOW JWDIMIS GWI 2013 jMfApll UW% 0.3W% 3.241,9D7 SLOS RAft Pao 12SEP12 Tow Omdflrxm of lnd*mbco 125.723.00 ToWINalm 3,251,183.00 TOW mww SLUS 3.3749" g , EP , REFUNDED BONDS DEBT SERVICE SCHEDULE Sep 12, 2012 11 am PnVL-ed by PoWle FLuanrU mmugonaM lur� (Fhmm 7M Buynow BawL-2012) Pfp 15 EsawwRBQUIRM"ms Boyaw B" CmMandly RwkvdqpmwAAgww Tax Immml Rdkmft Remun Bmik Sedo 2012 FINALNUMMS Raft ft SWkmbw 17, 2012 Low PwAdw. Mask S7KOW GfDSRF WIM rmnb in pkm to cam mucfmmbd 2004 Ban& $1 XBM of DSRF rdamd 60 to ommv* paiw prbmw b*MA Rodeculd TOW 0601.2013 370,4103 370,418,75 1r 13 370A1R35 370,418.75 04 37%4lL75 370,418.75 IGMIM14 37%416.75 12AMiND.00 19.035.41 L75 04 67,SWM 67�=AD 1 1 67.500-00 3PUMOD 3AW.SW.OD IAIUMN ISASPAOD 17.nl.675.00 zlaumc-1 NOTICE OF DEFFASMC7- OF 13ONDS BOYNTON BEACH CONMUNITY RWEVELOPMENT AGENCY TAX INCREhOW REVENUE BONDS SMUES 2004 Matiffity inter" Amount LQq2berl) Rate S 780,000 2015 4.000 103561 ALO 815 2016 4.250 103561 AMB 1,165,000 2017 SAW 103561 AN6 1,225.000 2018 5.000 103561 API I,M,000 2019 5.000 103561 AQ9 1,350,000 2020 4.OW 103561 AP-7 6,045,000 2024 5.000 103561 AV8 Notin is hmby ghm that for the payment gbe ffadvmm- refim&W) ofthe praicipal ofand intamt on the sbove-destnated bonds (the Meunded BonW), therc has been deposited with US. Bank Nabonal Association, as Emow Aguit msh, wha* except to the extent mwdamed M l ats!). hu bow finvestod in non-cabbit direct abWom of the United States of Awma. The pqJected Prhwipal and mmmu Paymcou to be recewd from such obligations and cash have been calmbded to be adKude to pay the pri=*W ofand fiftmt on the Raftinded Bonds when due., to and Wkding October 1, 2014, the doe on which All soh then outstsuft Refisaded Bonds AaR be osW for reden4Kb& In accordmwe wkh Section 9.01 of the Resolution pursuant to which the Refimded Bon& were issu4 the Refimded Bands am dcamd PWd- Dated ft day ofoctober, 2012. By ® Bank Natkml Association, as Escrow Agent CUSIP nuabn are included 9ol* for the convenie= of the owun, and no representation is me& w to the correohms ofthe CUSIP numben fidicated in this Dekesence Nofiv EXIMIT C-2 NOTTCE OF DEFEASANCE OF BONDS BOYNTON HHACH COMMUN= REDEVELOPMENT AOWCY TAX INCREMPMr REVENM BONDS SERMS 2005A Matu* Interest Amaum (Qq2ber 1 j Rate 92ge $i 4fi%o0o 2025 40 500% 103561 1, . AY2 535,000 2026 4500 103561 AZ9 Notme m hwebygiven thM for the payment (the 'advaw�—refimdW)oftheFm*dofmidwtwmt on the above-destanted bOD& (the "Ralkndad Bon&"), them bas been depwited with U.S. Book National Anoeblion, as Ewrow Agent, cask which, mept to the eatat md=ncd m cRsh. hu been invested in non-caMle direct obligaflow of the United Stan of Anwric& ne projected prindpal and interest pwymuft to be received fi ffu& obl4ptions and cah have bum cakulated to be adequate to pay the priwipal of and kung on the Reflindod Bonds when due, to and inchuflng October 1. 201 the date on which AR on& then outdonft Relended, Bonft sbaH be ca%d tir redemption. In accords= with Section 8.01 of the Resoludon pursuant to which the Rchuded Bands were issued, the Ralimded B=& = decaied p%A Dated this day ofCkaoben 2012. By US. Back National Asweintior6 as Escrow Agent CUSIP numbers we iu&&d solelyllirthe mmenience ofthe ownen, and no representoWn is made as to the conwinam of the CUSIP nurtbw idicated in this Delbamce Notice. zXKlBFrD-1 REDENITIONNOnCE BOYNTON BEACH C0A0ffJNrfY REDEVELOPAGM AGENCY TAX INCREMENT REVENUE BONDS, SEMS 2004 Motor* 1merest Amm—'A QqLberl) Rift C�gk S 780,000 2015 4.000 103561 ALO 815,000 2016 4.230 103561 AIM 1,165,000 2017 5.000 103561 AN6 I 2018 5.000 103561 AP1 1,285 000 2019 5.000 103561 AQ9 L350,00D 2020 4.000 103561 AR7 6,045,000 2024 5.000 103561 AVS Notice is hmrby given that pursuaml to the terns of Resohition No. 114M-04, as amended and sxpplarnnftd� of ft Boynton Bewh Comnsmity Redow1opined Agmcy, Florida, the Boads identified above am cakd for paymnt and redenq3tiononOctobw 1, 2014 (ft "Redemptitm Date") at a radereptimprice cqpdto 100 of the pifiwipal amount thmvofphn seemed interest thervon to the Redemption Date. The Bonds so called for redemption should be presented for payment and redemption at the offk* of the Pa*g Agent set fDttb below, on or after October 1, 2014, and will ccese to ben or accrue interest after that date, whotbar or not so prosentai If by Mat K by Hand or Ovarm& Mak U.S. Bank U.S. Bank Corporate Ttust Savices Corporate Twist Services P.O. Box 64111 60 Lbingston Avenue RL AnA MN 55164-01 Ist F1 - Bond Drop window St PaA MN 55 107 Phone # 1-900-934-6802 Withholding of a portion of the SToss redemption prooec& of any paymest made within the United States ofArocrica maybe required bytbe Intermt and DWidend Tax Complinnov Act of 1983 milm the Paying Agent has the correct taxpayer klesififimdwn nmnbcr (socal mmrity or employer i d an tifi ca tim mmjw) or Womption ceM=to oftim payee. Pleage hmxh a pwperly ormVIcted IRS Form W-9 or exemption ccrtificate or equinkm when ptuading your stemides for rodrn4niox DATED this ----g 2014. U.S. BANK NA710NAL ASSOCIATION CUSIP n=bm are inciaded. solely for the conveadence ofthe ownme, and. no representation is me& as to the correctness ofthe CUSIP mmim indicated in 9& Rakmption Notice. EXHIBrr D-2 REDEMPTION NOTICE BOYNTON BEACH COMMUNnY REDEVELOPMENT AGIKNCY TAX INCREMOU REVENUE BONDS SERIES 2005A )&UU*Y immst Amount (00cemober I Rate Q!!e $1,465,000 2025 4.500 103561 AY2 1,535,000 2026 4.500 103561 AZ9 Notioe is hereby gim that pursumst to ffic tenns afResohnion No. R-", as amended and suppkmiceftd, of the Ekyp� Bewh Community Rmdevdopsocal Agency, Florida, the Bonds identified above are cafled for payment and redemption on October 1. 2015 (the "Radm*don Date") at a redemption prim aqwd to 100 ofthe prineW amount dmwfplus accrued kftrm d=wn to the Ralmsiption Dde. The Bonds so called for redosaption shouM be preunted for paymast aW redemption at the off= of the Paying Agat set finth below. on or after October 1, 2015, and will ccasc to beer or a=w interest after that date, whether or not so presente& If by Mail- lf by Hand or Ovmn*M Mak U.S. Bank U.S. Bank Coaporate Tr ' ust Semi= cotpecate Trust Swim P.O. Box 641 60 Livit)galm Averate St. Paul, MN 55164-01 Ist Fl - Bond Drop Window St. Pau% MN 55107 Phone 1-800-934-6902 Withhokleg oft portion ofthe Smas redemption procwtds ofany payrato made whbin Go Ucbd States ofAmerice may be required by the Interest and Dh*lcnd Tax C=Vhm= Act ofl 983 mAm theftying Agent has the corruct hwpeyw idendfimtion. number (social security or empk*w Wcnt&m&nnwnber)oreamptionomtfiegeoftheMm- PleasefiomshaproWlyconvietodMS Form, W-9 or mamsptkm caiifixft or equivulent whest presemtft your wourkiss fist redoVdan. DATED this _ day of 1 2015, U.S. BANK KAnONAL ASSOCIATION CUSIP rminbers are inchaled so* for the convenience ofthe ownat% andno representation is made as to the correetness ofthe CUSIP nambers hidianted in ft Redomption Notice. EXITMT E ESCROW AGENT FEES AND EXMSBS Th coniddadion of dw servicao ruKlered by the Escrow A9WA UWW the Agremmit, dw Agency agmes to pay the Ewmw Agist an ona-tkw fm ofS 1,500-00, to be PW on the dab hawc fmm avaflabL- fim& of the Agmey and mot fmra Oa Ewmw Depst Trug FW4 ibr mR mvices to be hwunvd es Eemow Aipt in conmetion with stxh wrAm, phw agem to ptomptly pay, as mmmmd, rembumment at cost fDr oubnoxy out-of-podret mqxnm imiudingpogtege and pub Bcatbn costs. The tam"ordhwyoi*-of-podxt axpewww"meam expensm ofhokft ud disbunmg the Emaw Deposit Thist Fun4 as provmkd hmm and imitkies, but im net kr&ed to, pubhcation cofftk pogtW and kgd fm as mcmTeL (H) TUASemysballalso promptlymmbimtIm Emow Agent fDranyeidraordowy =pmw bem-red by it in connection herew& The tem weadmorilimy mpmm" indudes (a) mqx=m arking out oftbe wwrtion ofavy WW party to any klemut in lhe Escrow Dqmsit That Ftmd or any chdimp to the vdidity hmo t k mb ding remonsbk afto mays! Re% co su ad expenm and (b) cqxmw (otbw thmu ordiwq expensm) not oamsiowd by the Ewwow HokWo mbwnduct or mcgHgem. (jh) no fim and eVeam p"Ala by the Agency midw paragraphs (1) or (it) Wla not be paid from the Bsmw Depost Tiust Fut4 Imat " be pmd by the Agency frum IcgLHy avmMic fun& offbe Agency. 6 N NT 0y , CIIRA CRA BOARD MEETING OF -8 March 10, 2015 I 'Gaftnt Agesda I X ! Old Basiken I I New Bmh= I I f CONSIDERATION I . 1 RESOLUTION BOARD OF COMMISSIONERS I REDEVELOPMENT L I I AUTHORIZING THE ISSUANCE BY THE AGENCY OF $5,005,000 IN I ITS TAX INCREMENT REVENUE BOND, SERIES 1 REFINANCE THE AGENCY'S TAX INCREMENT REVENUE BONDS, SERIES 200513; APPROVING OF SUCH SERIES 1 ; AWARDING THE SALE OF THE SERIES 1 MAKING I IN CONNECTION I APPOINTING I AGENT AND REGISTRAR I 2015 BOND; APPROVING AN ESCROW DEPOSIT I I T; MAKING CERTAIN AGREEMENTS COVENANTS AND IT OF THE OWNER OF SUCH BOND; PROVIDING THE CREATION ; AND PROVIDING EFFECTIVE . As provided In the CRA Board Meeting of February 10, 2015, favorable conditions, and i Financial Advisor, , issued refinance RFP to ) was proposer chosen as the most responsive and key terms include: . The 2015 Is loan 2. The proceeds 11 be used to refund the Series 2005B bond 3. The City Il guaranty repayment similar to the Series 2012 Bond 4. The interest rate is (as opposed to 5.1 % to 5.7% on the refunded bond) 5. The 2015 Bond vAll mature in n 6. Not Present Value savings of $624,720 7. Total Debt Service payment savings of approximattily $1,786,000 r the remaining Iffe of the loan given release 8. No reserve requirement in escrow to pay dovm the refund Ing. TAAGENDAS. CONSENT AGENDAS. MOWrHLY T u t Fame by MeedngIFY 2014 - 2DIS hieetlngsTftch 1 - J 0343-2015.dom Resolution . 15-01 °i: () Authorize the issue Tax Increme Reve nue Bond Series 2015 in the principal amount $5,005,000 n 's Tax Increm R evenue Bo Se ries () Approve the ibrm a th e Series 2015 Bond T (Exh B of Resolution . 1W) (c ) Award the sale 1 Bo to BB&T () Appo a Pay ing Age a nd Registra ibr the Se ries 2016 Bond as the OfIlce of the Finance Dinwtor of the CRA () Approve an E scmw Depo sit Agmeme to provide r the ref redemption of the refunded Bo ( i i of ltio . 1 and appoint U.S. Bank National Association as Esaow Agent. If i Commission, t the h 17 meeting, will approve a resolution incur the refunding t and autho t h e deb the FISCAL EWACT: Interest rate 3. 3% remits in vin of $1.78 million over the life loan, Wth a not present value 4,72 . CRA PLAN, PROGRAM OR PROJECT: 1 RECOMMEENDAIIONSe. Approve Resolution .1 Finance 42 F___) 44 � D �._ Susan Harris TMGENDAS. CON AGENDAS. MONTHLY f PORTMa*e1ed Agenda ftern Request F - 201 MeefingaVAnwh 1 - O&OS-20164cox RESOLUTION e A RESOLUnON OF TBE BOARD OF COMMISSIONERS OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, SUPPLEMENTINC, RESOLUTION NO. 04-04, AUTHORIZING THE ISSUANCE BY THE AGENCY OF $5X5,000 IN PRINCIPAL AMOUNT OF ITS TAX INCREMENT REVENUE BOND, SERIES 2015 TO REFINANCE THE AGENCYS TAX INCREMENT REVENUE BONDS, SERIES 2005B; APPROVING THE FORM AND TERMS OF SUCH SERIES 2015 BOND; AWARDING THE SALE OF THE SERIES 2015 BOND AND MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH; APPOINTING A PAYING AGENT AND REGISTRAR FOR TBE SERIES 2015 BOND; APPROVING AN ESCROW DEPOSIT AGREEMENT AND APPOINTINGANESCROW AGENT; MAKING CERTAIN COVENANTS AND AGREEMENTS FOR THE BENEFIT OF THE OWNER OF SUCH BOND; PROVIDING FOR THE CREATION OF FUNDS AND ACCOUNTS; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE BOARD OF COMbUSSIONERS OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY: SECTION 1. Definitions. Terms used herein and not otherwise defined herein shall have the meanings asuibed thereto bylkesolution No. 04-04, adopted by the Board of Commissioners on December 6, 2004 (as supplemented by Resolution No. 05-13 adopted by the Board of Commissioners an December 13,2005, collectively, the"Base Resolution"). In addition, when used in ® Resolution, the following terms shall have the following meanings, unless the context clearly otherwise requires: "GuaranW'means the Guaranty Agreement, dated of even date with the Series 2015 Bond, piusuant to which the City guarantees the timelypayment of the principal and interest on the Series 2015 Bond, and which shall be in substantially the form attached hereto as Exhibit A. "Refunded Bonds" means the all of the Agencys Tax Increment Revenue Bonds, Series 2005B maturing on and after October 1, 2015. VfSeries 20 Bond " shall mean the Agency's Tax Incrernent Revenue Band, Series 2015, authorized pursuant to Section 3 hereof SECTION 2. Agjh���� This Resolution is adopted pursuant to the provisions of the Act. SECTION ® Authorizati and Terms of Series 2015 Bond. A Series of Bonds entitled to the benefit protection and security of the Base Resolution is hereby authorized in the principal amount of $5,005,000 for the principal purpose of providing funds to relhad the Refunded Bonds, Such Series shall be designated as, and shall be distinguished from the Bonds of all other Series bythe title "Tax Increment Revenue Bond, Series 2015. " The Series 2015 Bond shall not be issued except upon compliance with the requirements ofthe Base Resolution for the issuance thereof as Additional Bonds thereunder. no Series 2015 Bond shall be issued as a fully regisWed Bond in the principal amount of $5,005,000; shall be dated the date of its initial issuance and doliv l have such other terms and provisions as set forth in the tom of the Series 2015 Bond attached hereto as Exhibit B. SECTION ® ' s r Series 2015 Bond. The Agency hmvby appoints the Office of the Finance Director of the Agency as the Paying Agent and Registrar with respect to the Series 2015 Bond. SECTION 5. Award of the Series 2015 Bond. The Agency solicted proposals from interested financial institutions for the purchase of the Series 2015 Bond and received seven proposals, ofwhich the proposal of Branch Banking and Trust Company offered the most favorable terms to the Agency. The Agency hereby determines that a negotiated sale of the Series 2015 Bond is' the best interest of the Agency and the citizens and inhabitants of the Agency because the Agency can obtain the best terms through ® The Series 2015 Bond shall be sold to Branch Banking and Trust ® Prior to the issuance of the Series 2015 Bond, Branch Banking and Trust Company shall file with the Agency the disclosures required by Section 218.385, Florida Statutes and competitive bidding for the Series 2015 Bondis herebywaivedpummt to the authority of Section 218.385, Florida Statutes. SECTION 6. The Chair is authorized and directed for and in the name of the Issuer to execute and deliver an Escrow Deposit Agreement, in substantially the form attached hereto as Exhibit C. to provide for the refunding and redemption of the Refunded Bonds, with such changes as shall be approved by the official executing the same consistent with this Resolution, such execution to constitute conclusive evidence of such approval. The Issuer hereby appoints U.S. Bank National Association as Escrow Agent pursuant to the Escrow Deposit Agreement. The Issuer hereby irrevocably elects, effective upon and only upon the issuance ofthe Series 2015 Bonds, that the Refunded Bonds shall be called for redemption on such dates and for such prices as specified in the Escrow Deposit Agreement, SECTION 7. Avolication of Series 2015 Bond Proceeds; )ther Amounts. Proceeds from the sale ofthe Series 2015 Bonds shall be applied to make the deposit to the Escrow Deposit Trust Fund as requrred by the Escrow Agreement, and the balance shall be applied to pay costs of issuance of the Series 2015 Bond. All amormts on deposit in the Series 2005B S of the Reserve Fund on the date of issuance of the Series 2015 Bonds shall be deposited in the Escrow Deposit Trust Fund under the Escrow Agreement. SECTION 8. Execution and pLh:yM of the Series 2015 Bond. The Chair is hereby authorized and directed on behalfofthe Agency to executothe Series 2015 Bond as provided herein, and such official is hemby authorized and directed upon the execution of the Series 20 15 Bond to deliver the Series 2015 Bond in the amount authorized to be issued hereunder to the Registrar for authentication and delivery to or upon the order of Branch Banking and Trust Company upon payment of the purchase price set forth herein. SECTION 9. T'he Scries 2015 Bond shall not be issued unless the City shall have executed and delivered the Guaranty to the Agency and to Branch Banking and Trust Company. If at any time the funds available for the payment of principal of and interest on the Series 2015 Bond shall be insufficient for such purpose, then the Paying Agent or the Holder of the Series 2015 Bond shall make demand on the City pursuant to the Guaranty for such funds. in the event the City shall make payment of principal of or interest on the Series 2015 Bond pursuant to the 2 Guaranty, the City shall be subrogated to the rights of the Holder of the Series 2015 Bond to such payment. In the event the City makes a payment pursuant to the Guamty, and the Paying Agent or the Agency has Rmds (other than such amount paid by the City) to make the debt service payment on the Series 20 15 Bond to which the City payment relates, then the Agency sh4 or shall cause the Paying Agent to, promptly refund to the City all moncypaid by the City net needed to make the debt service payment. SECTION 10. r t of the principal of and intemst on the Series 2015 Bond shall be secured fi)rthwith equally and ratably by a pledge of the Pledged Funds on a parity with the Agency's Tax Increment Revenue Boad, Series 2012 issued pursuant to the Base Resolution and the Parity Note. Provided that the Agency is not in default in the peribrinance ofits obligations hereunder or under the Base Resolution, the Agency may use any Tax Increment Revenues in excess of the amount necessary to be used to sati* the Agency's obligations hereunder and thereunder for any lawful purpose of the Agcncy. SECTION I 1. Funds and Accounts. The Series 2015 Bond shall not be secured by any account in the Reserve Fund and the Reserve Fund Requirement for the Series 2015 Bond shall be zero. SECTION 12. Financial Information to Be Provided to Holder. The Agency shall within 2 10 days aDm the end of each of its fiscal years fin to the Holder ofthe Series 2015 Bond financial statements of the Agency for it report of an independent certified public accountent to the effbct that such audit has been conducted in accordance with generally accepted auditing standards and stating whether such financial statements present fairly in all material respect the financial position ofthe Agency and the results ofits operations and cash flows for the periods covered by the audit repoft, all in conformity with generally accepted accounting principles applied on a consistent basis. The Agency shall also furnish to the Holder of the Series 2015 Bond the annual budget of the Agency for each fiscal year within thirty days after approval by the Agency which approval shall not be later than the date required by law. SECTION 13. General 0 The members of the Board of Commissioners and the Agency's officers, attorneys and other agents and employees am hereby authorized to do all ads and things required of them by this Resolution or desirable or consistent with the requirements hereof for the full, punctual and complete performance of all of the terms, covenants and agreements contained in the Series 2015 Bond, this Resolution and the Base Resolution, and they are hereby authorized to execute and deliver all documents which shall be required by Bond Counsel or the initial purchaser ofthe Series 2015 Bond to effwtuate the sale of the Series 2015 Bond to said initial purchaser. SECTION 14, No Personal Lighih ,fty. No representation, statement, covenant, warranty, stipWation, obligation or agreement herein contained, or contained in the Series 2015 Bond, or in my certificate or other instrument to be executed on behalf of the Agency in- connection with the issuance of the Series 2015 Bond, shall be deemed to be a representation, statement, covenant, wmwty, stipulation, obligation or agreement of any member of the Board of Commissioners, officer, employee or agent ofthe Agency in his or her individual capacity� and none ofthe foregoing persons nor any officer of the Agency executing the Series 2015 Bond or any certificate or other instrument to be executed in connection with the issuance of the Series 2015 Bond, shall be liable personally thereon or be subject to any personal liabilityor accountability by reason ofthe execution or delivery thereof. 3 SEMON 15. No Third Party Benefidanes. Except such other Persons as may be expressly described herein or in the Series 20 15 Bond, nothing in this Resolution, or in the Series 2015 Bond, expressed or` , is intended or shall be constivad to confer upon any Person other than the Agency and the Holders any right remedy or claim, legal or equitable, under and by reason of this Resolution or any provision hereof, or of the Series 2015 Bond, all provision hereof and thereof being intended to be and being for the sole and exclusive benefit of the Agency and the Persons who shall from time to time be the Holders. SECTION 16. &MvLeMrabilibE of Invalid Provisions. If any one or more of the covenants, agreements or provisions of this Resolution shall be hold contrary to any express provision of law or contmry to the policy of express law, though not expressly prohibited, or against public policy, or shall for any reason whatsoever be held invalid, then such covenants, agreements or provisions shall be null and void and shall be deemed separable from the remaining covenants, agreements and provisions of this Resolution and shall in no way affect the validity of any of the other covenants, agreements or provisions hereof or of the Series 2015 Bond issued hereunder. SECTION 17. f s Resolutions. All resolutions orparts thereofin conflict herewith are hereby superseded and repealed to the extent of such conflict. SECTION 18. M29LPart Hereof The headings preceding the several articles and sections hereof shall be solely for convenience of reference and shall not constitute a part of this Resolution or affect its meanin& construction or effect. SECTION 19. Effective Date. This Resolution shall become effective immediately upon its passage. PASSED AND ADOPTED TFUS 10th DAY OF MARCH, 2015. BOYNTON BEACH COMMUNrrY REDEVELOPMENT AGENCY By Chair "PROVED AS TO FORM AND LEGAL SUFFICIENCY: 13y._ Agency Attomey 4 EXHIHrr A FORM OF GUARANTY Guaranty Agreement The City of Boynton Beach, Florida (the "City") makes this Guaranty Agreement (this "Guaranty`% dated March 26 20 15, as follows- 1. Guaranty. The City hereby guarantees the full and prompt payment when due, whdher by acceleration or otherwise, of the principal of and interest on the Boynton Beach Community Redevelopment Agency Tax Increment Revenue Bond, Series 2015 (the"Bond'j, issued ofeven date herewith in the principal amount of S5,005,000.00. 2. Governing Law. The City further agrees that this Guaranty shall be governed by and construed in accordance with the laws of the State of Florida and is performable in the State of Florida. ® Definitions. Terms used herein and not otherwise defined herein have the meanings ascribed thereto in Resolution No. 04-04 (the "Resolution"), adopted December 6, 2004, by the Boynton Beach Community Redevelopment Agency (the "Agency"), as amended and supplemented, particularly by Resolution No.� 15- adopted by the Agency on March 10, 2015. 4. Termination. This Guaranty may not be amended or terminated by the City for so long as the Bond is Outstanding. 5. Financial and Other Information. The City agrees to famish the Agency with such information regarding the City as may be requested by the Agency in order to enable the Agency to comply with its obligations pursuant to Section 5.13 of the Resolution. ® Guarantor Duties. For so long as Section I hereof is in effect, upon receipt of telephonic notice, such notice subsequently confirmed in writing byregistered or certified mail, or upon receipt ofwritten notice by registered or ceatified mail, by the City from the Holder of the Bond that a deM service payment on the Bond required to have been made by the Agency has not been made, the City within one Business Day aft receipt of notice of such nonpayment will pay to the Holder of the Bond fimds sufficient for the payment of any such guaranteed amounts which am then due. 7. Limited Obligation. Notwithstanding any other provision ofthis Guaranty, the City is not and shallnot be liable for the payment of any amount hereunder or for the perfbrmance ofany obligation or agreement hereunder from any source other than the "Non-Ad Valorem Revenues" appropriated for such purpose in the manner and to the extent described in this Section 7. The term "Non-Ad Valorem Revenues" means all revenues of the City derived from any source other than the exercise of the ad valorem taxing power of the CiM but only to the extent the same may lawfully be used to make payments hem-under. No person or entity shall have any right to resort to legal or equitable action or revenues to require or compel the City to make any payment hereunder from any source other than such Non-Ad Valorem Revenues. The City covenants that should it be required to make any payment hereunder it will appropriate in its annual budget� by amendmen% ifrequired, from Non-Ad Valorem Revenues, amounts sufficient to make such payment. In the event that the amount previously budgeted for such purpose Ed any time is insufficient to mAc any payment required to be made hereunder, the City covenants to take immediate action to amend its budget so as to budget and appropnate an amount from Non-Ad Valorem Revenues sufficient to make such payment. Such covenantto budget and appropriate from Non-Ad Valurern Revenues shaR be cumulative to the extent not paid and shall continue until such Non-Ad Valorem Revenues sufficient to make all requit payments have been budgeted, appropriated and used to make payments required to be made hereunder. ® EnforcemenL This Guaranty may be enforced. by the Holder of the Bond, which is a beneficiary of the provisions berwf IN WrINESS VaIEREOF, the� undersigned has caused this Guannty to be executed as of the 26th day of March, 1® CrrY OF BOYNTON BEACH, FLORIDA By: Its City Manager 2 EXMIT B FORM OF SERIES 2015 BOND y BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY TAX INCREMENT REVENUE BOND, SERIES 15 F Rc&ered Holder: Branch Banldng and Trust Company Principal Amount: Five Million Five Thousand and t tit 21 f 1 00/1 00ths Doll= KNOW ALL MEN ]BY THESE PRESENTS, that the Boynton Beach Community Redevelopment Agency (the ', a public body corporate and politic existing under and by virtue of the laws of the State of Florida, for value received, hereby PrOMiSCs to Pay, solely from the sources ofpayment: bereinafter described, to the Registered Holder idenlified above, assigns or registered , the Principal Date identified above, subject to prior prepayment as hereinafter provided, together with interest on such Principal t fiom the Date of Original Issue identified above or from the most recent interest payment date to which (calculated the basis of a 360-day year of twelve 30-day months) identified above, payable it Z and October I of each year commencing October 1, 2015, until such Principal have been paid or provided The . principal , due on October I of the years and in the following amounts set forth in the e: Principal Year 2016 $360,000.00 2017 360,000.00 2018 370,000.00 2019 y 410,000.00 2022 420,000.00 2023 435,000.00 2024 445,000.00 705,000.00 II remaining principal Such Principal Amount and interest and the prepayment penalty, if , on this bond are payable in c respective payment l tender for the payment ofpublic; and private debts, and Shan be made by wire transfer by the Agency to accordance r in such other manner as may be agreed upon prepayment by the Agency and the Registered Holder. This bond is subject to optional prior to the due dates set forth above at the option of the Agency, at any time and from time to time, in whole or in part, but only on an April I or October 1 that is on or after April 1, 202 1. The prepayment shall include principal prepayment prepaid and the interest accrued thereon to the date, and shall not include or penalty. Prepayments of principal applied inverse order of their due dates, r in such other manner as the Agency and Registered agree- or in the Resolution of this bond is t required to present or suirender this bond in order This bond is issued under the authority of and in l compliance laws of the State ofFlorida, particularly l applicable provisions of law (the "Act"), and Resolution No. 04-04, duly adopted by the Board of Commissioners of the Agency on December 6, 2004, as amended and supplemented (the "Resolution"), and is subject to all the term and conditions of the Rzsolution, including t limited is i t and security for this bond. It is i all acts, conditions and prerequisites required to exist, precedent to happen and to be pczfDrmed to and in connection with the issuance ' t, have happened and have been perform4 in regular and due form and time as required by the Constitution and laws of the State of Florida applicable , and that the issuance of the Bonds does t violate any constitutional or statutory limitations or provisions. shall This bond not be valid or become obligatory c authentication ll have been manually signed . IN WITNESS WHEREOF, Boynton Beach CommunityRedevelopment Agency, has issued this bond and has caused the same to be executed by the manual signature of its Chair as of the 26th day of March, . By: 6h. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CERTIFICATE OF AUTHENTICATION This bond is . DATE OF AUTHENTICATION: March 26,2015 OFFICE OF THE FINANCE DIRECTOR, as Registrar Authorized i t EXHMrr C FORM OF ESCROW DEPOSIT AGREEMENT ESCROW DE POSIT AGREE-MEENT TIHS ESCROW DEPOSIT AGREEMENT (the "Agmment"), is dated as of March 26, 2015, and is by and between Boynton Beach Community Redevelopment Agency (the "Agency"), a public i sting pursuant to Part a Chapter 163, Florida Stat:utas, Bank National Association (the "Escrow Agent' j, a national banking association, as Escrow Agent. E T H. WHEREAS, the Agency has determined to advance-rufund its Tax Increment Revenue Bonds, Series 2005B (the "'Refunded Bonds"); and WHEREAS, the Agency has determined to provide for the payment of all of the Refunded Bonds pursuant to this Agreement; NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein set forth and in order to secure the payment of the principal of and interest on the Refimded Bonds, according to their tenor and eflect, the Agency'does by these presents her&y deliver to and give, grant, assign and pledge to the Escrow Agent and to its successors in the Escrow Deposit Fund hereby cr=ted, and to it and its assigns forever, all and singular the property hereinafter dwmibed, to wit: CLAUSE i. All right, title, and interest of the Agency in and to $6,379,335.00 deposited by or on behalf of the Agency with the Escrow Agent hmwder. CLAUSER All (i) property which is by the express provisions of this Agreement required to be subject to the pledge hereof and (H) additional property of every kind and nature that may, from time to time hertafter, by delivery or by writing of any kind, be convey4 pledged, assigned, or transferred as and for additional security hereunder or to be subject to the pledge hereof, by the Agency or by anyone in its behalf, and the Escrow Agent is hereby authorized to receive the same at any time as additional security hereunder. TO HAVE AND TO HOLD, all and the some, forever, upon the terms and trusts herein set forth, for the equal and proportionate benefit, security and protection, as herein described, of the owners from time to time ofthc Reffinded Bonds in the manner herein provided; but if the Refunded Bonds shall be fully and promptly paid when due or redeemed in accordance with the two thereof and hereof, then this Agreement shall. thereupon be and become void and of no further force and eff=4 otherwise the same shall remai t n in full force and effect, and upon the trusts and sub cat o the j covenants and conditions hereinafter set fix-ft ARTICLE I DEFINITIONS Section 1.01. Defirdtions. In addition to words and terms elsewhere defffied in this Agreement; as used herein, unless some other meaning is plainly intended, the following terms and phrases shall have the following meanings: "Escrow Deposit Fund" means the fimd so designated and established under Section 2.01 of this Agreement. "Refunded Paying Agent" meansU.S. BankNational Association, or suchotherpaying agent foI the Refunded Bonds as may be serving from time to time. Section 1.02. Uses of Phrases. Words of the masculine gender WWI be deemed and construed to include correlative words of the feminine and neuter genders. Unless the context shall otherwise indicate, words importing the singula number shall include the plural number and vice-versa. ARTICLE H ESTABLISHMENT OF FUNDS FLOW OF FUNDS Section 2.01. Creation of Escrow Deposit Fund. There is hereby created and established with the Escrow Agent a special and irrevocable fund designated the 'T3scrow Deposit Fund" to be held in the custody of the Escrow Agent separate and apart from other funds of the Agency or the Escrow Agent, Section 2.02. Deposit to Escrow Deposit ftnd. Concurrently with the execution of this Agreement the Agency has de-posited or caused to be deposited with the Escrow Agent and the Escrow Agent aelmowledges receipt of immediately available moneys in the amount of $6,379,335.00, for deposit in the Escrow Deposit Fund. Section ® Application of Escrow Deposit 13'and. The Escrow Agent shall apply the moneys deposited in the Escrow Deposit Fund in accordance with the provisions hereof The Escrow Agent shall not invest any moneys held hereunder or dispose of the moneys held hereunder except as provided in this Agreement. Section ® Irrevocable Deposit. Except as expressly provided herein, the deposit of moneys in the Escrow Deposit Fund sliall constitute an fiTevocable deposit for the benefit of the holders ofthe Refunded Bonds and the holders of the Refunded Bonds shall have an express lien on the moneys hold in the Escrow Deposit Fund hereunder until applied in accordance with this Agreement. Section 2.05. Use of Moneys in Escrow Deposit Fund-, Redemption of Defeased Bonds. The Escrow Agent shall use the i'ands in the Escrow Deposit Fund to pay the principal of and interest on the Refunded Bonds on the date and in the amount as shown on Exhibit A. The Agency irrevocably calls the Refunded Bonds maturing after October 1, 2015 for 2 redemptionon October 1, 2015,The Agency irrevocablyinstructs, the EscrowAgent, andtheRscrow Agent agrees, to (A) as soon as pmeticable after the fiaiding of the Escrow Deposit fund, mai� at the expense of the Agency, a notice substantially in the form attached hereto as Exhibit B to all registered owncn ofthe Refunded Bonds, and (B) at least thirty days before October 1, 2015, mail, at the expense of the Agency, a notice of redemption substantially in the fonn attached hereto as Exhibit C to all registered owners of the Refunded Bonds maturing after October 1, 201 at their addresses a they appear on the registration books for the Refunded Bonds. The Agency agrees to pay the reasonable expenses incurred by the Escrow Agent in connection with such redemption from lawfully available funds of the Agency. Any expense or charge imposed by the Refunded Paying Agent as a result of supplying information to the Escrow Agent shall be paid by the Agency from available funds, and shall not be imposed upon the Escrow Agent. Section 2.06. Transfer of Funds After AII.Psyments Required by the Agreement Are Made. After all the principal of and interest on the Refunded Bonds has been paid in ffill, all remaining moneys in the Escrow Deposit Fund shall, upon written direction of the Agency, be transferred to the Agency by the Escrow Agent and shall be used by the Agency for any lawful purpose of the Agency. IU Escrow Agent it have no responsibility for the application of amounts transferred by it to the Agency as provided above. Section 2.07. Defidencies. If at any time it shall appear to the Escrow Agent that the available funds in the Escrow Deposit Fund will not be sufficient to make any payment when due to the owners of any ofthc Refunded Bonds, the Escrow is notify the Agency as promptly as possible prior to such payment date and the Agency agrees that it will deTosit with the Escruw Agent, fi= legally available funds, if any, amounts sufficient to eliminate the anticipated deficit so that the Escrow Agent will have sufficient funds to make such payment on the Refunded Bonds. The Escrow Agent shall in no manner be responsible for the Agency's failure to make such deposits. Section 2.08. Escrow Agent Fees. The Agency hereby agrees to provide for the payment, from lawfully available funds ofthe Agency, ofthe compensation due and owing the Escrow Agent which compensation dull be paid at such times and in such amounts shown on Exhibit D. In no event shall the Escrow Agent have any lien, security interest or right of set-offwhatsoever upon any of the moneys or ® in the Escrow Deposit Fund for the payment of such compensation, or for the payment or reimbursement of any expenses incurred by the Escrow Agent in connection with this Agreement. Section 2.09. Refunded Paying Agent. The Escrow Agent shall cooperate with the Refunded Paying Agent to cause necessary arrangements to be made and thereafter continued whemby funds shall be made available by the Escrow Agent to the Refunded Paying Agent for the payment of the Refunded Bonds as the same shall become due and payable. ARTICLE III CONCERNING THE ESCROW AGENT Section 3.01 UabMty of Escrow Agent. The Escrow Agent shall not be liable in 3 connection with the perfinmance of its or its i c, malfeasance or willflil misconduct. liable The Escrow Agent shall not be car the accuracy ofthe calculations as to the sufficiency of moneys to pay the Refunded Bonds. So long as the Escrow Agent applies I moneys to make payments to the Refiaided Paying Agent to pay the Refunded Bonds as provided herein, and complies fully with the terms of this Agreement, it shall not be liable for i i in amounts necessary to 1 . The Escrow Agent shall keep such books and records as shall be consistent practice ' for inspection by the Agency at all failure reasonable times. In the event of the Escrow Agenfs r any of the moneys received by t, said moneys WWI be and remain the property of the t of Bonds, the owners of the Refunded as herein provided. The duties and obligations ofthe Escrow Agent shall bedetermined bythe express implied l be read into this Agreement against the Escrow ® The Escrow Agent may consult with legal counsel with respect to any matter relevant to this Agreement, who may or may not be counsel to the Agency, and be entitled receive from the Agency reimbursement of the reasonable 1, and in i ve reliance upon the opinion of such legal counsel have complete respect authorization and protection in of any action taken, suffered or omitted by it i shall accordance therewith. Whenever the Escrow Agent deem itnecessary or desirable that amatter be proved or established ' r r omitting any action under this Agreement; such matter may be deemed to be conclusively established bcertificate of the Agency, and the Escrow Agent y in cl iv t . The Escrow Agent may act through its t may conclusively rely upon and shall be fully r l g , requisition, i certificate, order, counsel), affidavit letter, telegram or other paper or document ' in good faith deemed by it to be genuine and correct and to i Escrow Agent hereunder shall be paid from and is s li Agreement; the Escrow Agent shall not be required to expend its own funds for the performance of its duties hereunder. Notwithstanding any provision herein to the in no event WWI the liable Escrow Agent be ci , indirect or consequential loss or damage ofany kind whatsoever (including t limited ), even if the Escrow t has been advised of the likelihood ofsuch loss or damage and regardless of the form of action. The Escrow t shall not be responsible 'I or delay in the performance of its obligations this Agreernent arising out of or caused, directly or _ fir, by circumstances beyond its reasonable control, including, without limitation, t i fire; flood; .li t epidemic; pandemic; riots; interruptions; storms; was; tmmrism; similar i . x computer software) or communications accidents; I r s ofcivd or military authority or governmental action; it being understood that the Escrow Agent shall use commercially 1 i t with accepted practices in the banking industry to resume performance as soon as reasonably practicable under the circumstances. Section 3.02. Permitted Acts. The Escrow Agent and its i of or may deal in any obligations of c Agency described herein as fully and with ft same - rights as if it were not the Escrow Agent. Section 3.03. Resignation or Removal of Escrow Agent. The Escrow Agent may not resign or be removed. Swflon 3.04. Brokerage Confirmations. The parties acknowledge extent regulations regulatory entity grant a right to receive brokerage confirmations of sectuity ftansactions of the escrow, waive receipt such , to the extent permitted by law. The Escrow Agent shall hitnish a statement of security transactions an its regular monthly reports. This i ` confirmations investment the need for a separate letter from the parties waiving this requirement. ARTICLE 1V NHSCELLANEOUS Section 4.01. Amendments to this Agreement. This Agmement is made %r the benefit of the Agency and the owners from time to time of the Refunded Bonds and it t be mpealed, revoked, altered or amended without the written consent all such owners, the Escrow Agent and the Agency-, however, Agent, may without the consent , or notice , such owners, enter into such agreements supplemental to this Agreement as Shan not adversely t the rights of such owners and as shall not be inconsistent provisions or any one or more of the following purposes: (a) to cure any ambiguity or defect or omission in this Agreement; ( for the benefit-ofthe additional the Refunded Bonds, any be granted to, or conferred upon, such owners or the Escrow , and (c) to subject to this Agreement additional funds, securities or properties. The Escrow Agent shall be entitled to rely c i I - unqualified E. Raymond or other nationally recognized bond counsel with respect t Section, i if s to which any change, modification, addition or elimination executed affects the fights of the owners of the Refunded Bonds, or that any instrument complies i . covenants Section 4.02. Severability. If any one or more of the this Agreement should be determined by a court ofcompetentjurisdickon to contrary to law, such covenant or agreement shall be deemed to be separate and shall in no way affect the validity of the provisions remaining t. Section 4.03. Agreement Binding. All the covenants, promises and agreements in this Agreement contained by or on behalf of the Agency or by or on behalf of the Escrow Agent ftll bind and inure to the benefit of their respective successors and assigns, and to the benefit of the owners of the Refunded Bonds, whether so expressed or not. Section 4.04. Termination. This Agreanent shall terminate upon and when all transfers and payments required to be made by the Escrow Agent under and pursuant to the provisions hereof shall have been made. Section ® Governing Law. This Agreement shall be governed by the applicable laws of the State of Florida, without regard to conflict of law principles. Section 4.06. Execution by Counterparts. This Agreement may be executed in several counterparts, each of which Quill be regarded for all purposes as an original, and all, of which, together, shall constitute and be but one and the same instrurnent, Section 4.07. Notices. Any notice, demand, direction, request or other ins authorized or required by this Agreement to be given shall be deemed sufficiently given on the day sent by registered mmL return receipt requested, or by overnight common couner addressed as follows or to such other address furnished in writing by any of the following to all of the following: If to the Agency: Boynton Beach Comm Redevelopment Agency 71 North Federd Highway Boynton Beack FL 33435 If to the Escrow Agent: U.S. Bank National Association Corporate Trust Services 200 South BiscayneBlvd.; Suite 1870 Miami, FL 33131 Boynton Beach Community Redevelopment Agency By: Clair U.S. Bank National Association, as Escrow Agent By: Assist ant'Vice 11�-eS4&nt 6 EXH113IT A REFUNDED BONDS DEBT SERVICE SCHEDULE 7 Mar 3, 2015 1:03 pm Prepared by Fublak HHuwcdul Inc. 7. 10 Boynton Beach.CRA-2015,2015) Pagel[ 4-1-1-1-1-1 .............. . ....... . ....... ESCROW REQUIREMENTS Boynton Dead CARnmunity Redevelopment Agency Taxable Tax iurement Revenue Bend, Series 2015 F94ALNUMBEM Loan Provider BB&T Pedod Principal Ending pdnei* Intemst Redeemed TOW .... . . . . . . . .......................................... _ -- ------------------------ 0410112015 169,667.50 169,667.50 10/01/2015 350,000.00 169,667.50 5A90,00D.00 6,209467.50 .... . ..... ........................................................ 350,000.00 339,335.00 SA90,OKOD 6,379,335.00 . . ......... . . . . . . . .... NOT interes BOYNTON BEACH COMMUNffY REDEVELOPMENT AGENCY TAX INCREWNT REVENUE 13ONDS SERIES 2005B maturity s t JQqobcrIj Rate gmiff $ 350,000 2015 l 103561 $ 2026 5.650% 103561 BBI Notice is v r ci on the v i "Bonds"), there has been deposited U.S. Bank National Association, Agent, cash, ill be held uninvested, Such cash has been calculated principal to be adequate to pay the on . 1, 2015, the date on which l such then outstanding Bonds shall be paid at maturity or called redemption. In accordance of l Bond w ere i ssued, Da ted °s� day cif , 2015. U .S. c ti , as Escrow Agent so lely CUSIP numbers are included or the conv enience is is is Defmance Notice. EXHIBIT interest REDEWTION NOTICE BOYNTON BEACH COWUNITY REDEVELOPMENT AGENCY TAX INCREMENT REVENUE BONDS, SERIES 2004 Maturity Amoun Qgoberl Rate i $5,690,000 2026 5.650% 103561 Notice is 'v t R-04-04, as amended and supplesneutc4 of the Boynton Beach Community Redevelopment Agency, Florida, identified above are called for payment andredemption "Redemption Daft") at a r edemption price equal to 1 OW/o of the principal amount thereof plus acmwd interest thereon to the Redemption Date. The Bonds so called for redemption should be presented redemption below, office of the Paying Agent set forth on or after October 1, 2015, and wiU cease to bear or accrue interest after that date, whether or not so presented. U.S. Bank National Association Corporate Trust Services I 11 Fillmore Avenue St. Paul, NN 55107 1-900-934-6802 Under the Jobs & Growth Tax Relief c' t of 2003, withholding will apply the tax identification number is l certificate W 9 or exemption . DATED this _ day of , U.S. BANK NATIONAL ASSOCIATION CUSIP numbers are included solely for the convemence representation is made as to the correctness of the CUSIP numbers indicated this Redemption Notice. EXHIBIT D ESC ROW AGENT FEES AND EXPENSES (i) In consideration of the services rendered by the Escrow Agent under the Agreement, the Agency t an one-time of $250.00, t services hereot from all ' i in con:nection with such services, plus agrees to promptly pay, as incurred, reimbursement at cost out-of-pocket expenses including postage and publication costs, " ordinary out expenses means holding expenses of sit Trust Pund as provided includes, but is not limited to, publication , postage and legal (il) The Agency shall also promptly reimburse the Escrow Agent for any extraordinary expenses incurred by It ® in connection heravnth. The term " extraordinary expenses" includes ( expenses arising out of the assertion of any third party to any interest in the Escrow Deposit Trust Fund or any challenge and expenses and (b) S not occasioned by the Escrow misconduct or negligence, (111, The fees and expenses payable i 1 not be paid from the Escrow It Trust Fund, but shall be paid by the Agency from legally available fimds of the Agency. RESPONSE TO QUESTION 8 '!3 M W W Ln R W d 0 d' W O Lf3 W CD O N r O R W W O) R W M d I13 M W W (D O C73 W O N r d N CD R N N r CO N L67 CD Ln r M CD C7 CD �fT 1° CD t'? CI6 r Q8 R N r W O cry 0) d° W CD r W N 07 W� In Ill (D (D r CD O O M d R N d° N R P- CO 0) d to N qr Ln R OD — CO d d M O R R W N LO O M Ln r N r 0 d r r N r r r r r r CV N M CO CO 113 W O O O r R CD R O O M CO m rCq C6 (6 C6 C) C6 6 td Ld wi P+O 7 G ER 6ck EA C4 44 G9 ff} 69 f9 d3 b4 to to fR U3_ to Ff} EA fR ER 69 6 EU3 fR 69 In W 0 O O co If3 R W O W't O R O) It7 W R CO CO O N 117 r ® O M O co N W N V' N N N M (D Q O N M CO O� N W Ln I-* ® ty Z W M u7 M Rn O Ln cn r- (D as R CD r (p 00 ID r` OD r �t CD cV G o w o 04 o CO iY ni 1` IsS 04 0) M of ri LO Co r IQ Wcp �* r LO 0 r N M W 0) 0) M CD r CO O '' r r U) d R O fm i 0 LO O LO d O CD O r r M Iq d Cl) r CA V r N Cr7 Ln CO L6 V' M C7 Ce7 d' L6 LC7 C x ER Ga 64 ff3 ER G* 60 69 ff} ffl ffk 64 6 fA cf} U)_ CC H M M W d" CO N W O 07 O N r to Q N CD O O O N M W O O R CO CD M d � O W O r d O (D r 0 O R Ln d° O M O d r 0 Q 0 r W Ln CO M O BW O r ti� O M O) R R W R dw ll7 r M r [A r CD N L67 V M CA g L C)7 L� O 03 r CD CeJ P+ V' R r N R C® d (D (O CO R W Cy ( C O W O 00 Ln CO W O 0) r cr W M LO CO r r r N 0) co I M c r r N r M V° W d N d° 0 O O M N r CD — O w �o r CV M M M N N N N N M M ER GS 64 09. 03 Eft tf3 fR (3? Q!). 7 03 f) fu 64 6 4 4 ER Ffl ER E9 v s t a Ln M A W Ln R O O D d°' W O Ln OS CD O V° N r O R CD W W R O M C) 113 M W W W Q O O v W g N d LO W O LO r M CO W co C7 00 to ti Co C? Co r Ci 00 Co R N r O 00 L W d° 06 (6 r O N 0 ) 0) r Ln L O O (D O O W O P� N J R R {) O 0) d Ln N V Ln R d° M R R W N co CD r CO O C) Ln (0 M 117 CV r 0 r r CV r r r r r r N N M W M Ln W O O_ Lf) +- R O R CD O M CO m r N Cr7 (d W 07 O CD Rd Ld Ira R W C LAC c GR GP)� CA 44 ff3 6 ER eR V) 40 ER G9 64 GO bq ER 6S C tO ER 63 ER U3 - ER fR & uj N c W COrrrr0d M QOO Q o r r to u7 LO 0 0 (o(D0 0 0 000 ONNd' OOOQ »u7NNNNrrrrdnMCDa01n(DCOMnaa0 � Qy ca W o' W W w 'IT d°RRr CD C» W W 0 -• Ci r+ P� ti r: ti R I; 1` ti ti r~ ti (ri cd cd (o r` ti r� ri y c w O R r W W r R M 0 0 0 O O O O O O Q r r O d O 117 W 0 0 uj �,++ R Ln 113 R R M R Ln O O O O O Q O n C7 O R W O r N CD r M O O Q Q Ln O O pp LO W W O d 0 W O W O O M 0 M R Cr7 M M N N N CW CD CD m 0 In LC7 LCS cY N R R M R R R ti R R U� V 4 4 4 M 4 p M M N 4 V° 4 d° d' 4 4 d° d' d V° V° d d' M d° 4 V' d° f♦ r r r y� r 1 ►� V M CD M M r M LO W R O) W X N W O W Cb r r N CW C D CO H O R N LL7 W O W M W 03 0) d° d° W r It O M d CO Co 03 r 't W) R in r W CO C7) r N d_ V_ M N ti C? CO V° w II LL 0 X: ° O Co LCJ ice- d° M V" ti O N N T r M C7 cPJ d W It7 W N O W Lo LA `- 4. N (D r d' O LO V° IM r 4n M R Lo W M O R M V' N O R M N O N o Rd° (D Mcf )WQrrr. -0 (Dd° W MBD d°d° O rRRMd°RO) CO o � U v' C d CD N 6 r M d 117 ti r d (O W co N O co O ti Co C3) O M M 117 P° — v r r r r r r r r r r N CN R O O N pp W M W Q W W In LO LO Ln - 0 D Q r N M 1n R W R fD d" v d' 0 co R ® C U. 6 6 6% G9 ER EA ER W. tol) to R G9 ff3 ER d3 fR G9 Ef3 C Z 03 M R r O r 0 Co O r d° d' N W O r 0) M 113 r 1.67 M r 'Ct M R 117 . � lyL W R O V r R O R M 07 W co R N M r 0 Ln R CD W O M 03 03 N �� °p F C N W d' W 0 r r ti Cp N r In O C33 dw r O N Cp Cf3 "It O CD W W Lf3 .® m m CV W W O CO r r Ln r N O W W O r In M W C33 d M M 0 r N co d [n El d' N W N d° CD M y 113 co N W M CO r V° W R O M W 0 O R N O m r p d° N d_ m co r R 07 W W r W d_ R M O N d° M r R d' W M O t 0 O d" Ln P_ - O N M C6 N Ln O N7 03 W ICJ O 6 C37 O Ln Lry I` N O r___ 5 M 117 Q r r r r r r r r r r N N O r r M M d R M q r R O CD W n tV ® r N M Ln O W O w O ui V° Ln (o R CO 7 ( ..: tF� G9 6% 6% 6F3 64 V)3 CO E{3- G4 VY ER 63 E 60 6% f Rk 419. 03 M ER to t O N N N N N N N N N N 0) 07 W W W W W W W 0) 0) W W W W W a 0 a ` CD LC7 L17 6n In to w Ln IC7 O O CD Co Co CW CD co co CD Ld t V' V' d' d' tm M 4.s W ay �' R R ti ti R R R R I• Pw r r r r r r r r r 0 ; CO ID CO - co t4 a CO CO CO O O W O r r r r r r r " N W W CO CO W W CO W W O d 0 O O O O O O O N N N N N } a K ' O R R R R R R R R R R W W m W W W m W 0 0 0 w W W W Qy fA 1 I(j Oj Qj CA W W W W W W r r r^ r r r r r- r W 03 d W W W W >� F^ N W O O W O O O O N N CD Im N N N N N N N M N N M M M m 10, d 69Cf3 ERd3G9 ff}I4rEA6el�69fREf}E#fA O O R Ln to M N M O 000 M W M r R W O co N V' O d' N O M N CD d' W M d N O W (D M M M W d° 0 M V' W O W R N d r d O� 'r v R to R F_ N O Ln W CD 0) LO M M C" 3 R N O W N r �} Ln M C7) ti C0 W M A 7 fn ® C, R R CD qt 0) co N 0) Q co Lo Ln co r 03 w In O lD 4fJ co q' O N :3 CD W Ln W r N 0) r r r N M 0 m N d O r o O R N W d N @ �t W N M Co 0) d R R V W CA It O N V) r d O O Lf) CO 11 r CO_ N M y x C3 d° R7 M O r M V° L6 0 r- CV ti r r R N 0 r O LO L67 R N O R C M CO R R R R R R 1` R R W r R 0 M N M R M LO N r O W Q O F M M v Ln CO O r N r C D O CO R W O r -0 N a- r r r r E ER 69 Ff} CR ff3 ER fO 40 G9- ell s9 44 93 ER EA tfl- to Q3 ca ER CA CA U (� qm O r^ N M LO O R W 0 r N M d W O R W 0 O r N m d` Ill a 03 CD OJ W 03 O 03 O O O a O O O O a r r w w w r ca L O CA 07 07 C77 07 03 0 O O x 0 0 0 0 0 O a O r N M O O R W 01 a r N O CO P+ W a O r N M V' W W t OS a 03 o ow= 0 a d O O a O O O O r r r ± r±,, w r w L O r r a® r r — 0 V — Ltl M 4 n M Ln iz 0)a ®® MCDm40 r7foCDC r C C2 ® 0V_ p a07 tAOOa00000a i -rrrrr fD 08070'0) O Co OaQQQQCD aaa0 RESPONSE TO QUESTION 72 BcY WZ( RA CRA BOARD MEETING OF: Octobe 1 201 Consent Agenda Old Business f X l Now Businew I l Legal I I` Information onl AGENDA ITEM: XIV. B. Consideration i l Option of Boynton Harbor Marine, Marine Management Agreement with Waypoint Marine, Inc. SUMMARY: The CRA purchased t property and existing marine ! fueling operation located at 735 Case Loma Boulevard from the o Marina EI I on January 25, 2007. At that ti, Waypoint Marine, Inc. s the l dock manager responsible the II operation of the marine W dock. As a result Issued in October 2007, Waypoird Marine, Inc. l provide marina management services to the CRA and entered Into ri management nt with ons approved renewal ending on September 3, 2012. On July 1, 2012, soliciting proposals to provide services for the management of the n Harbor Marina. int Marine, Inc. s selected and entered into a management services agreement initial i r 30. 2015. The agreement provides n option to renew for two additional three year terms upon mutual agreement of both parties ( nt 1)° The current annual contract amount $158,000 i with increases over the past three years. The completion of the now Harbor Master Building, Ship Store and Fuel Dispenser upgrades resulted In Increased I and retail sales, marina visitors and public activity on the docks along added operational now l` . The Addendum No. 1 to 1 - he Marina Management e s Agreement (see Attachment ll) provides 1br the previously anticipated funding increase to the annual contract In the amount $13,435 which equake the cost for an additional part-time employee. Addendum . 1 also provides for an annual increase of $5,000 each year for the remaining of the I term as well as revisions recommended by CRA legal counsel. Waypoint Marine, Inc. has proven to be an asset in professional, n marina outstanding °n s for the post eight years. Waypoint Marine, Inc. is s i r the seven day a week, year Found operation and sWing of the Boynton Harbor Marina fueling operations, a in d° i fuel sales and orders, weekly/monthly repairs and equipment 19 slip I marina, slip rent collection, efforoement of to Dockage Le see Agreements, as II as hurricane plan development Implementation. I io, the Muff of Waypoint Marine provides assistance to CRA staff, contractors and area businesses during the major marina redevelopment projects that go far beyond nornial operational services. FISCAL IMPACT: General Fu -- Account # 01-51630-241: FY 15116 - $171,435; FY 16117 - 17, 1711 - $181,435. CRA PLAN, PROGRAM OR PROJECT: Community o t Plan, Marina Redevelopment Master Plan and the Downtown Malon r Plan. RECOMMENDA71ONS: Approve e first three year renewal option of the r Marina Fuel Dock & Slips Management Services Agreement with Waypoint Marine, Inc. under the terms and conditions t forth In Addendum No. 1. Ole , i t i r TiAeENDAS, CONSENT AGENDAS, MONTHLY Forms by MmUngIFY 15- 2016 Board nt Marine MomtAWmnt L ATTACHMENT I Boynton Harbor Martne Thb _# nt Aumn*O Is m3de the dabs Indicabd below, by and ba&men Boynton Smoh Community jopmnt Agency, a gowmMm"I &y* asgbd Pumu&nt 10 RDMa ShOte ChWer 1 e3. Wfth b prindpal ofte WW 64 710 NoM § ,,F ` 4Markle, b%. . u . !` ! located at 2355 MaWne Bluff, a FL 334 11 REWALA A. Owner owns a fmi doddmadna . . . ., Boynton ftech. ` ! . 0, operagon and B. Manager ropmeerft VW K is management of | . C. Owner deskm to wnplay y to act as No Manager in supmvising. adminkftft and managing the MW dockfmadn seMws, all subjed 10 ow tw= and ` In thh; 89FOWneft In , on of the marms dwmtmd abow, and of the Wual beneft and in ` ©:# the . EC'T10N ONL APPOINTMW OF MANAGER GXCWWO A. Owner . r and at 00 mpense mwagevwt | . ! aneffiary fadMn as Owner @W | . on . twme This appoftnent to be below. agreement . n ` ftnNamis for the pedod speeffled In n Nina B. ManMw shall manage, opnft, and mainfain | . Manager I act In r Owneft wswb. in this , UanaW ! sem Ownees Ifflemsts at all . Initials Page of 14 i 1i aamunt of Owner, jmkyW. lnftenftM contmcw. Manager doll have In b employ at all ftes a sufftbnt number of capable ernploysm 1 promodon and dfthsW of emplayms am On dockfinerina. responsIN11ty of MeneW, which is In W wbjed W the WAsw and approval of Owner. Manager shall fuly oDnVly with all securky, unenVkyrroot insurance, hours of labor, wages. wvtft conftons, wW other be an equal opportunity anVkp end mW advertkie as such. This agmemeW Is not Owner, shall the business of managing properties on ft own behelf an an Indepwdent oonkmAor. AN C. m The selaWshment af all Prim. Prim whedukw, non and mle 1, and In d1lkWA effoft to colad all Income of arvy M* and nature which nay Idenfify any Inwme due Owner frorn all fuel and arwiflary eervion except the convenlerms Rem wpmtely pmvided for In d retained. approved by Owner shall be All legal expenses Incuffed In IfflUals 4 4nfts Page 2 of 14 appmved Wit or pmandhig shall be sukxnftd to Owner r r 1. Manager it Owner. p e m Owner abmfione and dworedons for the fuel Owne sW be reWonsbis lbr payment of such "airs, approval mquhing prompt acdon for to proWcHan or *aft of the f" dockhnaffna or No OCCUPanta, Manager &M1 be empowered to take necomry sebon without pftr aftr whbh a Wtken report of the oomel E. The Manner shell ham the dght self wmanlence ND= rrxn the fuel dod*mrkia The sale of cormnkffm Rmne WWI be the right and We resporaWrity of r r r shag have the rfght to sppmve, In advance, In wrfflng a i1st of low* to be add, Sala of wW unapprmd Rome shall be a breach of this agnirrmnt, Convenience ram shall mean inventoty of ocmvenlence ftm shell be the responalblifty and wat of Mana Manage shall nowunt fbr purchwe and salim o r cm, all concamions and Ucemw for to sale of the convenk3nce Rome shid be In ManaWs Owne and not hi the nam of 0wrar. shag be In acowdenoe wfth Sacgon Three G. ft0d9LA9ffl&MQ= . , op the fuel docWftW.w in the Lmual coume of businew, except that Wnapr shag not enter into any ooftact fbr n or awlekV of the fuel docWmarkw or any of the corwiftent pads ftl: mquires annual paymnta In excess of 0250.00 wkhoLd the PW wdMn consent of Owne consent MmWer shall supply Ownw wfth a copy of any such propcoed contract and shal sWte to Owner the , V any, boMw Managw (or do person or persons serv In conW of Manage4 and ft pady propowo to supply &e goods or i both. g — Z9 1 7 0 ��— I nNakw Page 3 of 14 u opfion, to Qwm or Ownees nominee, r or Mafwger upon not kes then thirty 1301 W require 1 auftent e pertaining R proam, Owner It Boynton Harbor I r may doom remnably neamary I 1 , r saft ff doWmined m ManeW. Such plam or mstsdals shall only be ueed ff appmved in advance In wrftlng by Owner and in corffixTrilty with that appmaL Manager WW not use Ownees nme In any advadeing or promotional mleflele wfthout Owners prior wdftm appmval in each with federal, stWe and local I& housing Wen, ord inanm, J. r with 1, munidpal . ordinances, reguladom and ordem WatJng to the rubs, In r. Manager shall be responarob 1br full conVilance YAM all laws, rubs and reguleftne mWng to the storage and sale of hmrdous mderble as r furthw r shall Prompffy reffm3dy any victation of wW such law, oidhwnce, rule, reguLifiw or E*wm incurred in renwtyft vbWons may only be paid by ft Owne If the violoWn is one r which Owner or offm We holder might be eub)ect to pem1ty. ManW 9W m*fy Owfw wfthin three P) businm days to the end OW pwmpt armngwnaft may be made to ranedy the , pmvided that any and al coeft, msuk of the vioMlon a=ulng bebwen the date of Manapre first reoemng acWrAl no** of the violation and No date Manager 9has r huftam plan r the fuel dwWmadna that vAl of hurricarm. The plan should be consistent W Inkfals Page 4 of dock and mrina industry ® The huniwne plan mL%t be appmved by Ow Owner In wdft. l ,v r similar or may boom* None agakud the fuel daddmarhm and may mcormnand payment or appeal as in Its beef judormnt R nmy deoWs. Manager shaN Wward the bilks to Ownw for payment by Owner in fto to pemt Owner to avoid panafty for We p4mmmd or to pwmit Owne r shag not make WW payffonts an SCODUnt of any gmund kww, mortgage, deed of Mt or r r convenbnce kwm or other Reno without ft prior wiftn comwt of Owner. r of the Rml proper docWhurkm In an efflobnt and 1 SECTION THREE. ACCOUNTS AND RECORDS A. ® All operaflon of to l dooWmadne, lndudhg all thal be qW at all reemnable houm 1br selected r for ftt purpose. l r general IdentWooWn must ba given to the Wfter In charge of the W doddmdne It be grarftd. Min year of the Owner, an audk shall be made of the books and acomMe, hidWing all Manager for payrwnt of ft MenagernW Costs listed IndeperJent shall be an eVense of operefing the not the rwponsbft of WrAqw. shall be S. MaraW, In the conduct of Its responslbftm rewft for the m Books and rewrds shall be ffnintalned be fumished by Owner to Manager. Manager eW1 ensure oDntrof over acwurtUng and financial or fraudulent actift on the part of Managees r agenb. Lomm Page 5 I of aching kn those Wtan, on are to bom by Mari Induds but rxA be . Theft of aseeft by Managers wWoyaw or other . r 3. OverpaymeK nonpaymenL or dupkab pa~ of k r Wel sales r ftW or arror, w A sum equal to the vskie of any lbrm of payment from purveyom to or rimponsbifto W Owner, shall for the Managemnt Coeb rioted on for whM Manager Is meponsible r paymea Books system and chaft of accounts for W doWmadnes to be fumbled by Owner to or agmed to by Owner. MonVer shell ensure coWd over awmnft and ftnancial 17anwabns as masonably requimd other fto Use inshawm are to be bom by D. &ga*L&Rgft Manager shall fkgm!Bh pmUmlinq raports each month a r month to to last day of ft colleded r Roma, and ~ mattem l p to the menagemnt, apamflon, Wulng, makftnence of the fuel d"% =dna during the "ect month. These repoits shall r 1 I n r rales, Bales of Margagoes Owne a % and Inventory. The fuel mpoft shall be 1br the days of InMeW In Page 6 of 14 Monday through Sunday y 1rnnWj1ff191y folbwing the reporfing Week. SECTION FOUR. OWPOSMON OF FUNDS FMOM FUEL DOCKMWNA OPERATIONS Funds odukraft from 1he fuel dooldrMrino(r. operation or from Ownw and A. AN funds ma*ed in ft upsuftn of the fuel follovo: Owne and shall be depoW by Manager In the account at to banidnq Inatkuthn or All such fumb shah be depoobd ® Manager shal have no open a sepamft pft cash acmunt over which r abng vAth Owner. Upon agremont for a p94 cash acoount, Manager shall pmvkfe Owner an 0owundnq of expenses paid Inckift rec*ft, in order to obtain addiflonal funds ibr the mmunL Owner r '" B. Mensgw shall, exoept for payrmnts ad of an agnud poky cash acwunt and the MwWwnenf Coaft 119W on to be paid by Owner and Manager shaV make affangernents wfth Marogers fuel suppler for ekhonic pqmntB, paynwnt term or oftr fuel as necqwary C. ftyrainLkLCh mM Owner shah ham full oonW of ag funds ftm the Two, E. Owner may dkbume binds to &off = ft cimme appropriate. SECTION WE. MANAGER NOT TO PLEDGE OWNEWS CREW Manage shal not ple dfje the medft of Owner nor aWl Manager In the name of, or an behaff of, Owner borrow any money or execiAe any prombwry note, b1i of enhange or other InKii rials Pap 7 of 14 " SECrION 8DL REIMBURSEMENT FOR EXPENSES Eyerythlrq; done by Manager i fi Ire Oymef and for Owne unt Manager shaD be reimbumed for arty W oWexperms approval SECTION SEVEN. INSURANCE , flVft b, fim mO extwWed coverage ., and spind for less, damap Dr k*iry to pmpwV or peraone which might arho out of the owupancy or ownemhip of the f W-1 dookimadne. Manager wN be covemd as an Inured In l Owner shag l t i njury r pwvkied Manager I Nofte Owner and the r recakm no** of any suO lose, damage or Wdur 2. '° " ht bar Ownerkum I damap r" ; 3m Aqmw that Owner shal have the e=hAhm flght,at or wft within policy or poldes of lnwwce. and off' wftackn or eWts apinrA any act or omitalon forwhM bourence pmkofion is not Intended to affW the general mquhmnent of this agreement OW the Me] dock/myina shall to managed, opamted and rmkftlned In a proper safe oondffidn and In a and careful rnannw, Managar shag fumish Owner purpow of estabbhing l under ft. Oww ahaff include In fte hward palW coverIng p9monal property, toftma and t lociftd on IL Inklais Page 8 of Peneat and ft a Cdme i nsurance shall ham aga*ed an endorsement that Owner vAU be VW9n at Wst ton 11 CQ days' pribr Liab k Insured stafta by endorwmnt In favor of Ownem in nqmct to maintenma and A I rmurmm &W be fbr an amount ra less then $25,000 per ommwm We aftd*d an endomwnW VW Owner w11 be given at ]out tw 1 i for � k Manager dearre approprhft for InBuflng the convenWnw ft= and arty equipment Manager places in the fuel dockimarina. Manager shall carry such oftr Insurance 9B masonably requlmd by Owner., E, Qonkag all conhuftm or insuranm coveMe at the M . l iability l east $1,000,000.00, combkwd si ngle Umt Manager nmt oWin Owner's permWon to waive any of ft above requimmwft. Higher amounts my be requbed I f ft work to be pedonned is suMdently m Manapr shall obtain and keep on file a oartiftate of I nsurance, adcffional insured on On SECTION EIGHT. TERM OF AGREEMENT R ' party hereto and and on Se*mber 30, n At the terininoWn ,� �. InWals m t P age G of 14 r yea terrm at the mutual , Elffor r m . W Prior r in r wMmA cause by B. Upon bm insUm of thi r p" 9MI bea Immediately due and payable. Q In additio sale of ft fuel doWmadna by Oww or upon i l W at Me rml dook r r r & deadlimm by Wes In sucoonlon or more than . Should ManeW not meet ft repoft dmdhm more than r 11mes dudng the term of We agmemad Owner o r r . E_ Ownw nwy Wini nate w nadoe, should Manager not re oremente for tie ftrap and dk"nsing of fuel or allow a i ng the fue l. 9"9 and ftwaft of shall Manager '. Maroger e per month oath or wMcg and past due an the Mkxmth day of 'the Marmgw OW not be liable to Owner r to any other person for any obibefion of Owner o r any contmcWal obligation that artme In ft coume �of Um binkmim iof ft A* dwWjw and Owner shall IndemnNy and hold MwmW hannbss for any akch oftedom Wth respect to any ad or r of any agent or empkoyee of Owner, Mt Manage and hold r I It or . In no event eW Owner make Page 10 of 14 any claims agahM Manager on account of any a llefied emu ofludgment ffia& i n po licies m SECMN ELEM SALE OF RJEL OCCAQUARINA If °' lbdng agnmmni w r to the and &W to respecbe actAke of r to exhbft the fuel doWmarho during masmable budnew ham provided Ow r �. Sab of the RW doddmrina by Owner m i dwhing to show the ftel docWhudne b a nuftft d9buff an b part under this ghmn by ManaW to Owner dol be in wrWng, and shal be sat by regkkeW or r at 710 Noth Feftral Highway, Boynbri Beach, FL 3UM, or at Any no** mqukW or permMed by this agremnot to be gksn by Owner tD Manager shall be In wrMog and shel be senthy n*hftred or cart meR tD Mmager at 2358 MmWns ", Waal Palm Beach FL Manage , ftm Urns to fha. ftstnate to Owner i C be doomed given of any other date #at may appear there. SECTION THIRTEEN, ASSIGNM[LffY Subod to at Wet 30 daW prior written nafte to and approval by Owner, or to which It *Wb the majorky of b sessiL No other ae&fqnnWt of this sgmwmnt or ft Tighb under It by Manayw shag be m 0wra shal have the r1ght to assign thks agreement to any purchaaw, kum or othe o r transfew expressly assumes by a wri to MarwW al of ft ob0godons of Owner unde th mom SECTION FOURTEEN. COMPETFTIVE DIDDLNG InWs Page 11 cyf 14 l B. Each bid will beso[Wed .i ,a Owner, n In an imma Manager advhm acceptarm by Owner D. Owner "I be km to accoo or reject any and al bW E. of Manager WarldN FiFTEEN. I 1301 days after such WaNnedon or withdmwal; i ; r deposks, unpaid bft and other papers or dowmwft which partahi to to ftW M: or WfWmws9; WW D. A icompho Inventory of the met& of Owner, inckift, but not 11mkd to, pemonal property, rat Inventory and wnsumbles. INDEMNIFICATION MMIAGER & Page 12 of 14 uninsured dabs, demwWs� causes of action. losm, danwpes, fines, penafts, R fflw� cosM and expenva% Includin attome few and wurt , suebbed or incum&d by or aswried against Owner by reason of or r fts abloadons requhA by this aareemnt to be pabFmad by 1L No the preaeft, to the eAvA that Owner Is not fulty covered by knurance, MwMer II to E fines, pwWes, g co d or ex i a th eftnq out of I odw Vwn at the No[ w co of ind w A. If the dwnage, kMky, wst, claim or expense is aftrbutablys to (1) B. If ft dwhage, lkabft r roman or caum, the cost of mI II by Manager of the cost and shag to the wMat possible be charged aga ft SECTION SEVENTEEN. ENFORCEA13 If any pmvkdon of thb agrwnent or 2* appfication of any pmv to any pemon o drwntances is heW Invalid r uronkmeable. the remainder of Do agmement and the application of the provkftn to c4her pemns or circumstances shaU rwnaln I SECTION EIGHTEEN. WAIVER OF PRGVk3K= None of ft condWore or pmvb of this II be t*W tD have been employs but only by an inskumimt i n N SEMON shal This agmerned I to the "act maffw of the agreemmd, I original. but aT1 of which tage4her "I canMute one and ft same I — 2:::: ? — InNab I I Page 13 of 14 termituded orailly, NA only by wdfinq sIgned k)y R twmineflon is . FIT This agroenwwd it be bMing Upon and &hWI i i bpi reprewladne, w Owner and any future Owrw or Wmee of the W docWmedna. This agreemnt shvil be Interpreted umfer and govemed by the lam of to staft of Florida. SECTION TWENTY-TWO. HEADINGS, M heaftp am bweftd only for convenbroe and ewe of mbreme and am not m a i under this sgrwrant Wfth ON B uCh laws in 7be pwdes tD this agmement have signed the agnMent as of the dates indicated below. Thb agreement may be signed in counhwwft wfth each oanoWered REDEVELOPMENr AGENCY ft ;g ROOKS. BY VNfM ROOKS, i �Dkml�x i p DAM er Page 14 of 14 1 ATTACHMENT 11 ADDENDUM NO. I BOYNTON HARBOR MARINA E ' DOCK AND SLIPS MANAGEMENT SERVICES AGREEMENT Ibis Addendum to the Fuel Dock and Slips Mangement Swvices Agreement C'Addendurn!) is made by and between Waypoint Manne, Inc., CMinagee) a corporation organized and existing under the laws of Florida, with its principal office located at 12649 67th Stract Norfl4 West Palm Beach, FL 33412 and the Boynton Beach Community Redevelopment Agency ("Ownee), a municipal corporation located at 41 N. Federal Highway, Boynton Beach, Florida 33425 (collectively the "Partiee). WHEREAS, Owner owns a fiwl dock and marina at 735 Casa Loma Boulevard, Boynton Beack Florida (the "Fuel Dock and Marine!% and WHEREAS, Owner is in need of a Fuel Dock and Slips Managar for the Fuel Dock and Marina to provide Management and Operation Senices as described below; and WHEREAS, Manager represents that it is qualified m the supervision, operation, and management of facl docks and marmas, and that it has the Irnowledge and ability to provide the Management and Operation Services required by Owner, and WHEREAS, the Parties am operating under the Boynton Harbor Marina Fuel Dock and Slips Menagement Services Agreement signed in September of 2012 fthe'�2012 AgreemeW), to which this Addendum is being made, and which has a 3-year term; and WHEREAS, the 2012 Agreement provides that the parties may clod to renew the 2012 Contract for two additional three (3) year terms; and WHEREAS, the Parfies wiab to renew the 2012 Agreement under substantially the same terms but with the revised language found in this Addendum., NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, the sufficiency of which both Parties acimowledge, the Parties agree as follows: 1) Incorporation. The recitals above and all other information above are hereby incorporated herein as if My sot forth. 2) Supeneding Agreement. ®s Addendum shall wholly supersede the terms in the 2012 Agreement, and shall control. 3) Appointment of Manner- Manager's Representation. Owner hereby authorizes Manager 0 to supervise and administer the Management and Operation Services on behalf of Owner as described in this Addendum. Owner agrees that Manager shall be ffie sole and exclusive 0Mn1&2 Page 1 of 15 manager for the Fuel Dock and Madnit. Owner may also audunize Manager, in writing, to manage any ancillary facilities or services under the tam and conditions of this Addendum Manager 91WI pa-&rm the Management and Operation Services described in this Addendum in an efficient and satisfactory manner. Manager shall ad in a fiduciary capacity and shall at all times act in Owner's best interests. This fiduciary responsibility specifically includes the proper protection of and accounting for Ownee s assets. Manager represents and wammts that it is fift qualified and licensed, to the adent required by law, to manage real estate and the Fuel Dock and Manna, and to perform all obligations assumed by Manager under this Addendum. Manager agrees to comply with all such laws now or afkawards in elleo 4) Management and Operation Services. Manager shall pmTxm the following services in connection with the supervidon, adniamstration, and maragement of the Fuel Dock and Mmm ( and Operation Servie&) in accordance with the ternu; and conditions set Rwth in this Addendum: A. General ® Manager agrew to properly, adequately, mMy, and cconomicaUy manage, operate, maintain, and account for the Fuel Dock and Marina in acoordatice with the terms of this Addendura- Management and Opereflon Services shall include, but not be limited to, managin& operating, and maintaining any buildinp or structures located at the Fuel Dock and Marine; all aspects of fiwl sales and purchases; maintaining the Fuel Docks and Marina in a safe, sanitary, and usable manner; and leasing and management of dockage slips to the extent required by any dockage shp lease agreements (or similar documents) and this Addendum Manager will operate the Fuel Dock and Marina according to industry standards and in the same manner as is customary and usual in the operation of comparable fidlitics. Manager will operate the Fuel Dock and Marimi on behalf of Owner and shall act at all times m Owner's best interest. So far as is economically and legally possible, Manager will use the same procedures, practices, management techmques and other niles of Operation as those used by similar fuel docks and marinas, including other fad dodo and inasmas managed by Manager (except where this Addendum specifically providgm for a different proomh= or practice). B. Managees Penonnel. Manager represents that Managm has, or will secum at Manager's own expense, all necessary personnel required to pe&rm the Management and Operation Services under &a Addendum All Management and Operation Sm-vices shall be performed by Manager, or under Manager's supemsion, and all personnel engaged in performitig the Management and Operation Services shall be fully qualified, and if required, licensed or permitted under federal, state, and local law to perli such Management and Operation ® Manager warrants that all Management and Opm-ation Services shall be perffirmed by sIdUed and competent personnel in accordance with all applicable federal, state and low professional and technical standards. M65BIO-2 Page 2 of 15 Such personnel shall not be employees o& or have a contractual relationship with, Owner Manager shall have ffill responsibility for all matters portaimag to employment. supervision, comperisatimi, promotion, and discharge of personnel. owner shall have no liability with respect to employment matters. Manager shall fully comply with all applicable laws and regulations that govern the employer- employee relationship, including but not limited to laws and regulations regarding worker's compensation, social security� taxes, unemployment insurance, houn of labor, wages, and working conditions. Manager represents that it is and will continue to be an equal opportainty employer and must advertise as such. Notwithstanding any other provision to the coritrary, Manager shall notify Owner at least &e days prior to the proposed replacement of the Fuel Dock and Marina7s general ® The replacement of any gcnmvi manager will be subject to the review and approval of Owner. C. Prices. The establishment of all prices, price schedules, rates and rate schedules shall be subject to ownces prior written approval. D. Inconse. Manager shall use diligent efforts to collect all income of any type and nature winch may become due fiviii time to time for goods and services directly or indircc:tly related to sales, leases, rentals, or otherwise connected to the Fuel Dock and Marin& This income includes, but is not limited to, monies collected for the payment fi)r slip rentals, utilities for slip reritals, firel, and convenience items, Manager shall collect and identify any memo due to Owner and deposit such memo daily into the Operating Account as specified below. Manager shall not write off any income due wiftnit the prior written approval of Owner. in the event that Manager deterninies it is necessary to retain legal counsel or a collection flim to collect any incomes, the Manager shall be required to obtam Owner's approval in writing for the selection and retention of such counsel or firm. AJI expenses incurred in retaining such counsel or firm shall be submitted to Owner for approval prior to Payment. E. Repaks, Alteration, Mafntenanee� Decomflons. 7be Manager shall be He f responsi or such repairs, alterations, niaintenanoc� nod decorations for the Fuel Dock and Manna as Manager may deem reasonable and necessary for the proper maintenance and opemdon of the Fuel Dock and , Marina. Manager shall obtain prior written aplxoval fi-orn Owner for all repairs alterations, mamtenancc� and decorations for which ffic cost shall exceed $500.00. Owner shall be responsible for the payment of repairs, alterations, maintenance, and decorations so long as whew required, Manager obtained prior written approval for such costs. F Emergency. In the event of an emergency, Manager may take all necessary actions, including the expenditure of funds, for the protection or safety of the Fuel Dock and Marina or the patrons or occupants thereof Immediately following the conclusion of the emergency� Manager shall make a complete written report of 8I&2 Page 3 of 15 the emergency, along with the actions taken and the fimds expended in response to the emergency, and provide a copy of such report to Owner. ® Convenience Items. "Convenience item" shall mean item including, but not be linuted to, ice, bait, snadIrs, fishing tacAde and oil. Manager shall have the exclusive right sell convenience item at the Fuel Dock and Marme. Meager shall have the sole responsibility for the sale of convenience item and any activities related to such sales, except that Owner must approve a list of convenience items to be sold in writing prior to the sale of the convenience items. Manager shall be responsible procuring and paying for the convenience items to be sold. Manager shall culled the income for dw sole of any convenience items and deposit all such income into the Operating Account. Owner shall vnthhold ten percent (10%) of the amount of gross sales, Icas any sales tax, as the fee for the right to sell convemmice items, and remit any remaining fimds from the We of convenience items to Manager. Unless otherwise directed by Owner, all concessions and licenses for dw sale of convenience item shall be in Mamger's name as Manager for the Fuel Dock and lbrina, and t' the name of Owner. H. Sei-dee Agreements. Manager shall negotiate service contracts and other contracts reasonably necessary, or desirable in the usual course of business, for the operation of the Fuel Dodr, and Marma, except fliat Manager shall not enter into any contrad for cleaning, maintainin& repairing or seMcing of the F)udl Dock and Marum, or any of the oonshtuent pads, that requim annual payments in excess of $250.00 without the prior written cansent of Owner. As a condition to obtammg that consent, Manager shall supply Owner with a copy of any such proposed contract and shall declare to Owner any relationship between Manager (or any person or entity related to r control of Manager) and the party proposed to supply the goods or services. Ali service contracts shall: (a) be in the name of Manager, (b) be assignable, at Owner's option, to Owner or Ownces nominee, (c) ® a provision for cancellation by Owner or Manager upon not less than thirty (30) days' written notice, and (d) require that all contractors provide evidence of sufficient insurance If this Addendum is terminated for any reason, Manager shall, at Ownees option, assign to Owner or Owners nominee all service agreements pertaining to the Fuel Dock and Marina. 1. inventory, Supplies and Equipment. During Owner's annual budget process, Owner sW approve ffie overall opa" and maintenancebudget for the Fuel Dock and Marina. Owner shall purchase all inventories, previsions, supplies and equipmad as Manager may deem reasonably necessary in order to properly maintain and operate the Fuel Dock and Marina, except as otherwise dwedbed in this Addendum. J. Advertising. At the request of Owner, Manager shall prepare advertising plans and promotional materials to be used for rentals and sales related to the Fuel Dock and Marina. Such plans or materials shall only be used if approved in advance in Pap 4 of 15 wnbug by Owner and in conformity with that approval. Manager shall not use Ownees name in any adverdsmg or promotional materials without Ownces prior written approval in each instance. Advertising and promotional materials shall be prepared in full compliance with federal, sUft and local laws, ordinances, regulations and onlers, including fair housing laws. K. ConqAtance with Laws in Relation to Management and Operation Services. Manager shall be responsible for full compliance with federal, state and municipal laws, ordinances, regulations and orders relating to the renthig, use, operation, repair� and maintenance of the Fuel Dock and Marina. , Manager shall be responsible for full compliance with the rules, regulations or orders of the local board of fire underwriters or other similar body. In particular, Manager shall be responsible for full compliance with all laws, rules and regulations relating to the storage and sale of hazardous materials as heodnafter further provided. Manager sha[l promptly remedy any violation of any such law, ordinance, rule, regulation or order which comes to its attention. Expenses incurred in remedying violations may only be paid by the Owner, unless the expenses we the result of the negligence or offier wrongful ad or omission of Manager. If the violation is one for which Owner or other title holder might be subject to penalty, Manager shall notify Owner as soon as possible and shall fully cooperate with Owner to promptly remedy the violation. Any and all costs, fines and penalties payable as a result of the violation accraing between the date of Manager's first receiving actual notice of the violation and the date Manager gives notice to Owner shall be borne by Manager. L. Hurricane and Extreme Weather Prepareftess. Mawtger shall be responsible for developing a hurricane and extreme weather preparedness plan for the Fuel Dock and Marina that will be implemented in the event of a hurricane� flooding, or other catreme weather #® The hurricane and extreme weather plan should be consistent with actions typical and cusWmary to facl dock and inarina industry ® The hurricane and extreme weather preparedness plan must be approved by the Owner in writing. M. Taxes& Mortgages. Upon request by Owner, Manager shall obtain and verify bills for red estate and personal property taxes, improvement assessments, and other similar charges dud am or may become hem against the Fuel Dock and Marina. Manager may, using its best judgcment� make a recommendation to Owner as to whether to pay or appeal such bills. Owner " make the ffiW determination as to whether to pay or appeal such bills. Manager shall provide the bills to Owner for payment by Owner in sufficient tim for Owner to timely pay bills, avoid penalties for late payment, or ®# Owner to take advantage of any ® Manager shall not make any payments towards any lout, mortgage, deed of trust, or other security instrument affecting the Fuel Dock and Marin& UUMM2 Page 5 of 15 N. No Lenstn& Manager shall not lease any space or portion of the Fuel Dock and Marina without the prior written consent of Owner. 0. GeneraL Subject to the, terms and conditions of this Addendum, Manager "I pexforra all acts reasonably necessary for performing die Management and Opennion Sex-Aces for the Fuel Dock and Marina in an efficient and proper manner and in accordance with industry standards and any standards and policies established or to be established by Manager for the operation of a &A-class fitel dock and marina. P Open Daily. Manager understands that it ® responsible for Management and Operation Services wen days a week for the term of this agreentent, excePt for in emergency situations, hurricanes, etc. 5) Accounts and Reoord& Accounting and internal auUting system shall be administered as follows: A. Inspection. All books, accounts and records maintained onsite for the operati(m of the Fuel Dock and Marine, inchuling all accounts in the name of the Manager, shall bc open at all reasonable hours for inspection and audit by Owner or any auditor or accountant scIocW by Owner for that puqme. In all cues, proper identification must be given to the general manager in charge of the Fuel Dock and Manna before the general manager shall. be required to allow inspection. Within six (6) months atter the close of each fiscal year of Owner, independent auditors, satisfisctory to Owner, shall audit the books and accounts, including all accounts uscil by Manager Owner shall be responsible for the payment of expenses associated with such audit. A copy of the audit shall be famished to each of the Parties to this Addendwn immediately upon completion. If the audit results in any recommendations or reveals the necessity for any corrective actions, the Parties must take such corrective acheas or implement such recommendations within 30 calendar days. B. Owner's Books of Accounts: Manager, in the conduct of its responsibilities to Owner, shall asaist Owner in maintaining adequate and separate books and records for the Fuel Dock and Marine- Manger shall maintain all hoc" and records in such format and manner as Owner may require fiwn time to time. Manager diall crime control over accounting and financial transactions as reasonably required to protect ownces assets from thd% emr, ca fraudulent actiAty on ft part of Manager's employees or other agents. Losses arising from those instanow are to be borne by Manager and shall include but not be limited to: i. Theft of assets by Manager's employees or other agents; ® , t interest, or loss of vendor discounts due to delay in paymen of invoices, hills or other similar charges; iii. Ovapsymcn�, nonpayment or duplicate payment of invoices or fuel sales by cash or credit card arising fiDm cither fraud or error, OMMAW Page 6 of 15 iv. Overpayment of or costs ExIsing from either hand or erron, v. A sum equal to the value of any fDm of payment from purveyors to MansgWs employees or affiliates arising from the purchase of goods or services fbr the Fuel Dock and Marina; and vi. Unauthorized use of facilities by Manager's employees or associatm C. Manager's Books of Accounts: Manager, in the conduct of its responsibilities to Owner, shall mamtam adequate and separate books and records for the Management Costs for which Manager is responsible for t® Manger shall maintain'all books and records in such format and manner as Owner may require from time to time. All such books and records shall be mWintained on site or at a location agreed to by Owner. Manager shall ename control over a=unting and finamal transactions as reasonably required to protect Ownees assets fim theft, error, or fraudulent activity on the part of Manager's employees or other agents. Losses arising from those instances am to be borne by Manager. D. Financial and Accounting Reports: Manager shall provide to Owner, on a monthly basis or as often as Owner requests, a report C'Monthly Reporvj of Profits, losses, of all transactions occurring fiam the first day of the prior month to the last day of the prior month ("Accounting Period!). 'Me format and substance of the Monffly Report may be shared as specified by the Owner fi-orn time to time. Unless otherwise specified by Owner, these Monthly Reports are to be reacived by Owner no later than five (5) calendar days aftw the end of the Accounting Period and must show all fuel sales, taxes collected, for filri sales, fuel purchases, store sales, convenience item sales, collections, monthly delinquencies, uncollectible items, and other financial matters pertanung to the management, operation, leasks and mamtenance of the Fuel Dock and Manna dunng the Accounting Penod. Convenience items shall accoxmt for the purchase and sale of convenience items with the some specificity as it accounts for other fmaacial matters The Monthly Reports shall contain a companson of monthly and year- to-&te actual income and expenses with the approved budgets for the Fuel Dock and Marin& Additionally, Manager shall provide Owner (1) a daily report including all transactions; and (2) a weeldy report of fuel purchases, taxes collected for %W sales, sales of Manager's goods, and inventory. The fuel report shall be for the days of Monday dmugh Sunday and shall be, due. on the Wednesday immediately following the reporting week. Manager shall also provide Owner with a copy of the monthly sales tax paid on Manager's goods and inventory to the Florida Department of Revenue. 6) Disposition of Funds from Fuel Dock and Marine Operations. Funds received in the management and operation of the Fuel Dock and Marina or from Owner that come into Manager's possession shall be received, handled, and disposed of as follows: A. Owner's Operating AccountL All fimds received by Manager resulting fix= the management and Operation of the Fuel Dock and Marina, including any MMO-2 Page 7 of 15 woriting capital furnished by Owner, shall be flands of Owner and shall be deposited by Manager in the account at the ban1drig institution or institutions selected by Owner in the name of Owner C' "). Operating Account All such funds shall be deposited dkly Daily deposit of Rmds shall either be made by Manager or Owner, as Owner shall specify to Manager fim tune to time. Manager shall make arrangements and Owner shall sign all necessary paperwark to enable Manager to accept of credit card charges fi)r fael purchases at the Fuel Dock and Marine. Manager shall have no signing authority over the Operating Account. Owner shall provide Manager with eleckynne access on a READ ONLY basn to the Operating Account and Point of Sale system for purposes of business inquiries to credit card deposits, electronic fLwl payments, and other deposits and payments. B. Payment of Expenm. Owner shall be responsible for the payment of expewes necessary for the proper performance of the Management and Operation Services and the management and operation of the Fuel and Marina, including but not limited to payment for repairs, maintenance, janitorial supplies, equipment, signage, and similar expenses. Manager shall provide invoices to Owner"s designee for payment Owner and Manger shall make arrangcments with Manager's fael supplier for electronic payment% payment terms, and other appropriate arrangements to facilitate the delivery of fuel as necessary. This paragraph shall not be conaftued so as to require to Owner to be responsible for payment of Management Costs, which shall include., but not be limited to, expenses related to Managers employees, Managers vehicles, mAna Insurance, Manager's overhead, or other costs associated with Manager's corporate affairs. C. Payment to Owner. Owner sliall have M control of the Operating Account and all funds fi - om the operations of the Fuel Dock and Marina. Owner may disburse funds to itself as it deems appropriate. 7) Manager Not to Pledge Owner's Credit. Manger shall not pledge the credit Owner, nor shall Manager in the name of or on behalf of Owner borrow any money or execute any promissory note, bill of exchange, or otherwise bind or obligate Owner. 8) insurance. Compliance with this paragraph is a material provision of this Addend A. Owner's Insurance: Owner, at Owner's expense, will obtain and keep in force adequate insurance against physical damage (such as fim with extended coverage endormment, boiler and maeJuncry, and smular physical damage) and against liability for loss, damage or injury to property or parsons which might arise out of the occupancy or ownership of the Fuel Dock and Marina. Manager will be covered as an insured m all liability insurance maintained with respect to the management opershons or maintenance of the Fuel Dock and Marina. Owner shall save and hold Manager harmless from any liability on account of loss, damage or injury actually insured against by Owner so long as Manager W563918-2 Page 8 of 15 i. Notifies Owner and the insurance carrier within 24 hours after Manager receives notice of any such loss, damage or 4ury; ii. Takes no action (such as admission of liability) that might reduce or prevent Owner from obtaining any protection afforded by any policy Owner may hold or which might rejudice Owner in its defb= to a dami. based on such loss, damage r° ° 9 °'i® Agrees dmt Owner sW have the eaclusive right at its option, to conduct the defmse to any claim, demand or suit within limits prescsibed. by the policy or policies of insurance; and iv. Has not acted nelgigently or wrongMy in connection with the loss, daniam or injury. Nothing hem shall be construed as indamm5lbig Manager or its employees, contractors or agents against any act or oinission. for which insurance protection is not available; neither is the preceding intended to affect &a general requirement of this agreement that the Fuel Dock and Marina shaU be managed, operated and maintained in a safe condition and in a proper and cueful manner Manager shall fully cooperate with Owner and any msurance company in obtaining and runintain insurance coverage and shall aid and cooperate in every reasonable way with respect to defending any claim against any insurance policy Owner shall include in its hazard policy covering the Fuel Dock and hfiTim Owner's personal property; fixtures and equipment located on iL B. Workers Conq)msaflon: Manager must finmish a cartificate evidencing wo&= compensation and crinie insurance in a form acceptable to Owner. Uime insurance shall be for an amount not less than $1,000.00 per occurrence. The certificate shall have aftwhed. an endorsement that Owner will be given at least ton (1 daW pdor written notice of cancellation of or any material change in the ® Insurance: Manager must obtain and maintain Marine Genend Liabilities and Marina Qpff and Protection and Indemnity hmngoc including Comprehensive Gencral Liability of at least $1,000,000.00 ® single limit per occurrence, with minimum $2,000,000 Aggregate Limit including Pollution coverage, Hired and Non Owned Auto Ilability, and Liquor Legal Liability if licensed to sell beer, and including Additional bisured. status by endorsenient in favor of Owners in respect to maintenance and operations of the Fuel Dock and Marina. A copy of the policy shall be finmished to Owner. An Umbrella/Excess Liability policy shall be provided at a minimum of $3,000,000 occurrenWaggregate, and a copy of the policy fonished to Owner Crime insurance shall be for an amount not less than $25,000.00 per occurrence. 'Me ® shall have attached an endorsement that Owner will be given at least ten (10) days'prior writtm notice of cancellation of or any material change in the policy. COMM Page 9 of 15 D. Additional Insurance: Manager shall be responsible for any insurance Manager deems appropriate for insuring the convemence item and any equipment Manager places in the Fuel Dock and Marina. Manager shall carry such other insurance as reasonably required by Owner E. Contractor Insurance: Manager shall require all contractors or subcomractors that perform work connected to the Fuel Dock and Marina to have insurance coverage at the contractor's or subcontractor's expense, in the following amounts: i. Worker's compensation in the statutory amount; and ® Comprehensive general liability of at least $1,000,ODO.00, combined single limit. Manager must obtain Owner's permission to waive any of the above requirements. Owner or Manager may require contractors or subcontractors to obtain insurance in higher amounts if owner or Manager dolemunce that the work to he periermad is sufficiently hazardous. Manager shall obtain and keep on file a certificate of insurance, which shows that the subcontractor isso finured. Owner shall be named as an additional insured on the certificate. 9) Addendum Term; Effectivc Date and Termination. This Addendum shall be effoctivie for a period of three (3) years CAddendum. Tem27) which shall commence October 1, 2015 ("Effective DaW) and shall terminate 3 years after the Effective Date C"Expiration. The parties expressly agree that this Addendum shall be retroactive and "I become ® on the Effective Date regardless of when the last of the Parties has signed this AgreemenL At the Expiration Date, the Parties may mutually agree renew this Addendum for one additional three (3) year tam. A. Either Party may terminate this Addendum with or without came by giving tlia oflier Party written notice smty (60) days prior to the date the Addendum shall be terminated. B. Upon termination of this Addendum, all sums due to either party WWI become immediately due and payable. C. In atidition to other termination rights provided in ft Addendum, this Addendum shall tenninate automatically and immedkWly upon sale of the Fuel Dock and Marina by Owner or upon termination of Ownees right to sell fuel at the Fuel Dock and Marina. Owner agrees to give Manager prior notice of any We of the Fuel Dock and Marina, or any portion thereoL D. Owner may tenn treat e this agwment for Manager's failure to timely provide the Monthly Reports. If Manager fails to timely provide the Monthly Reports more than twice in succession or more thaii four times during the Addendum Term, Owner shall have the right to either tenninate this agreement or to put Manager on Page 10 of Is notice of probation. If Owner puts Manager on notice of tmnWft Manager without notice for any fiuther ffilure to timely prurvide Monthly E. Owner may terminate this agremnent, without if ' s to comply with 1 regulatory guidelines and mquimments for of fiwL or if Manager allows any hazardous conditions to =at regarding dw storage: and dispensing of fuel. 10) Default. The fiflure of l provisions at firth in this Addenduni shall constitute a defaultand breach of this If the dc&dting or breaching Party fi& to am the defm* within seven (7) days written nouce fiUM the other ParIN the Party not in breach or deWt y terminate this Addendum. 1 be responsible sustained , ' employees, or Manaw"s whatsoiam related to the Management and Operation Services or this Addendum, whether such damage or injury occurs before, dwing, or afkw the performance of Manager Operation ®fullest hereby waves, ® discharges, Owner, its agents, and i employees, liability for any damage or injury sustmed by Manger. This waiver, discharge. and rekase speffleally Include negligence by , Its agents, or its e fidlat extent the law I) Compmeation of Manager. Owner shall pay the Manager an annual management fee in dw following - Fiscal Year 2015 -1, which shall ran fium October 1, 2015 - -- September 30, 2016: $171,435.00 For Fiscal You 2016-17, ? , 2017: $176,435.00 For Fiscal Yea 2017-18, which shall ran fiom, October 1, 2017 _ September 30, 2018: $181,435.00 Owner shall pay the Manager 1/12 of the annual numagement fee on the Ent day of each month month. for Management and Opa2fion Services puftmed in die prmious deemed late on the 15th day of Opowtion Services performed under the 2012 Agreement shall not be deemed late so f received such paymmnt is 3,21. indemnify, 13) Indeinnificatioal Owner shall v e, and hold barmless Owner, its its eMP from any liability, 't, loss, Cos% ccpmw or damage vAnch may Owner, be asserted, claimed, or recovered against or fim its its to of any property damages or personal injury, inc Y any person is incidental to, oemrs as a remilt of, arises out of, or is ONMI" Page 11 of is otherwise related to the Manager's performance of the MimMement and Operation Services or the negligent or wrongful conduct ci the fitulty equipment (including equipment installation and removal) of the Manger, Managers 's employees. Nothing in this Agreement shall be deemed to affect the rights, privileges, and sovereign immunities of Owner as set finth in Section 768.28, Florida ® This paragraph shaill not be construed to require Act to indenmity Owner for its own negligence, or intentional acts of Ownw, its agents or employees. Each party assumes the risk of personal injury and propaty damage attributable to the acts or omissions of that party and its officars, employees and agents. 14) Sale of Fuel Dock and Marina. If Owner executes a Hsftg agreement with a broker for sale of the Fuel Dock and Marina, Manager shall cooperate with such broker to the extent that the broker's activities do not unreasonably interfere with Manager's Performance of the Management and Operation Services. Manger will permit the broker and potential pureliusers to access and exhibit the Fuel Dock and Maina during reasonable business hours so long as the broker has secured Manager's permission in advanw. Managors agreement to accommodate a broker and facilitate in the sale of the Fuel Dock and Manna is a material pmvision of this Addendum, and Manager agrees that failure on its part to extend cooperation to a broker dashing to show the Fuel Dock and ® is a material defiault an its part - under this Addendum and is grounds for immediate termination of this Addcndum. 15) Notices. Any notice, statement or demand required or pemfitted by this Addendum to shall be in writing, and shall be sent by registered or certified mail to: A. For Owner. Boynton Beach Community Redevelopment Agency 016 710 North Federal ffighway Boynton Beach, FL 33435, or at such other address as Owner may from tune to time designate to Manager in writing. B. For Manager Waypoint Marine., Inc. 010 12649 67th Stroet North West Palm Beach, FL or mich other address as Mauager may, from time to time, dougnaft to Owner in writing Any such notice, statement or demand shall be deemed delivered as of the date of delivery identified on &a registered or certified mail reccipt. 16)Assignability. Subject to at least 30 days' prior written notice to and approval by Owner, Manager may assign its respective rights, interests; and obligations under this Addendum to any subsidi is consolidated, or to any 6001IN-2 Page 12 of 15 corporation to which it sells the majority of its assets. No other assignment of this agreement or the rights - under it by Manager shall be permitted. 17) Competitive Bidding. Except as otherwise provided in this Addendum, Manager shall. comply with the requirements and procedures outlines in the Boynton Bow& Community Redevelopment Agency Procurement it may exist from time to time, for the procurement of goods and scrwoes in connection with the Operation and Management Services of the Fuel Dock and Marina. 18) Final Accounting. Upon termination of this Addendum for any reason, Manager shall promptly deliver to Owner the following with respect to the Fud Dock and Marina: A. A final accountin& reflocling the balance of income and expenses of the Fuel Dock and Marina, as of the date of termination or withdrawal, to be delivered within thuty (3 0) days af ter owh termination or withdrawal; B. Any balance of monies of Owner or temint security deposits, or both, held by Manager with respect to the Fuel Dock and Marina, to be delivered to Owner immediately upon termination; C. All records, contadts, bookings, lesses, reservation books, receipts for deposits, unpaid bills and other papers or documents which patitin to the Fuel Dock and Marina, to be deUvered immediately upon such termination; and D. A complete inventory of the assets of Owner, including, but not limited to, personal property. eqmpmen4 inventory and consumables. 19) No Partnership. Manager agrees that nothing contained in this Addendum shall be deemed or construed as creating a ®, joint venture, or employee relationship between Owner and Manager, or Owner and Manager's employees and personnel, It is specifically understood that Manager is an independent conitractor and that no employer/employee relationship is or shall be created nor shall exist by reason of this Addendwn or the perfininance of the Management and Operation Savices. Manager will exercise its own judgment in matters of salty for its employees and patrons or occupants of the Fuel Dock and Marin& 20) Enforceability and Severability. If any part of this Addendum 60 be declared unlawful or invalid, or otherwise unenforceable, the remainder of the Addendum will continue to be binding upon the parties. 21) No Discrimination. Manager shall not discriminate against any person on the basis of race, color, religion, ancestry, national Origin, age, SM mantal statues, sexual orientation or disability for any reason in its hiring or contrutng practices associated with this Addendum. 22) Waiver of Provisions. Owner may, in its sole and absolute discretion, waive any condition, provision, or requirement of the Manager contained in this Addendum. However, owner shall not be deemed to have waived any such requirement unless such waiver is evidenced in writing that expressly states that Owner intends to waive mch condition, provision or 00"I" Page 13 of 15 requirement. No waiver may be implied by the conduct of Owner, and no waiver shell be deemed to be a continuing wavier unless the continual nature of the waiver is evidenced in writing. Manager shall not be deemed to have waived any of the conditions, provisions or requirements of Owner contained in this Addendum unless such waiver is evidenced in writhig that expressly states that Manager intends to waive such a conditions, provisions or requircurent. 23)Entire Agreement. Thm Addendum represents the entire and sole agreement and understanding between the Parties concerning the subject matter expressed herein, No terms herein may be altozed, except in writhig and then only if signed by all flic parties hereto. All prior and contemporaneous agrements, understandings, comanumcations, orsiMions or representations, of any land or nature, oral or wnffa% concerning the subject matter expressed herein, are merged into this Addendum and the terms of this Addendum supersede all such odw agreements, specifically including the 2012 Agreement No extraneous information may be, used to alter the terms of this Addendum. 24) Governing Law, Jurisdiction, and Venue. The temis and provisions of this Addendum shall be governed by, and construed and enforced in accordance with, the laws of %a State of Florida and the Umted Statm of AmcdM 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 submt- 25) Addendum Domed to be Drafted Jointly. This Addendum shall be deemed to be drafted jointly and shall not be construed mom or less favorably towards any of the Parties by virtue of the fad that one Patty or its attorney drafted all or any part thereof Any ambiguity found to exist shall be resolved by construing the terms of this Addendum fitirly and reasonably in accordance with the purpose of this Addendum. 26) Independent Advice. 7he Parties declare thd the terms of this Addend have been read and an fully understood. The Parties understand that this is a binding legal docuraceit, and each Pwty is advised to seek independent legal advice in connection with the matters rateranced herein. 27)PubHc Records. Owner is a public agency subject to Chapter 119, Florida Statutes. Manager WWI comply with Florida's Public Records 1AW. Specifically, Manager shall: A. Keep and maintain public records that ordinarily and necessarily would be required by Owner in order to perform the Management and Operation Semew referenced herein; B. Provide the public with access to such public records an the same term and conditions that Owner 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; =6"164 Page 14 of 15 C. Ensure that public records that are exempt or dud are eenfidcatud and e from public record requirements me not disclosed except as authorized by law; and D. Meet all requirements for ret p mol an d b ms f tr to O wner, at no cost, all public records in possession of Manager upon termination of the Addendum and destroy any duplicate public records that we exempt or oonfidential and ex=PL AH records stored electronically must be provided to Owner in a format that is compatible with the Wormation technology systems of Owner. Manager also understands that Owner may disclose any document in connection with performance of the Management and Operation Services or this Addendum, so long as the document is not exempt or confidential and exempt fim public recor&requiremems. 28) Compflance with Lmn. In the performance of the Management and Operation Services under this Addendum, the Mitnager sball comply in all matald respects with all applicable federal Ond date laws and rcgulatim and all applicable Pahn Beach County, City of Boynton Beach, and Owner ordinances and regulations, including ethics and applicable procurement rquirements. 29) Counterparts and Traiismission. To fiwilitate execution, this Addendum may be executed in as many counterparts as maybe convenient or required, cach of which WWI be deamed an original, but all of which together WWI constitute one and the same instrument The executed signature page(s) fi 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 tivismitted electronically (i.e., via fiicsimile or pff format document sent ® electronic mail), which transmitted document "I be deemed an original document for all purposes hereunder. 30) Survival. The provisions of this Addendum regarding indemnity, waiver, insurance, and cancellation shall survive the expiration or temunation of this Agreement and remain in full force and effect. IN VATNESS WHEREOF, the Parties hereto have caused this Addendum to be executed on the day and yrar written below. By. Authorized Representative for Manager BY', Date: ® Representative for Owner WM]" Page 15 of 15 RESPONSE TO QUESTION 13 A2MMIVJM NO. BOYNTON HARBOR MAMA FLML DOCK AND SLM hIANAGKNZW SERVICES AGIRMUM This AddeAm to die Fud Dock and Sbpff hfanqment Swviow Agramimt C'Addendum") is made by taid between Wanaint Mkine. Ew-, (%Ianager") a corpomtIon oqpIzed and adeft under ffic laws ofFW14 with its prindpal office located at 12649 67th Sb=1 Nwtb, West Palm Beach, FL 33412 and the Boynton Beach Community Redevelopment Agmcy ( N)wmej, a inuni*d oorporation locaNd d 4 1 0 N. Federal Hieway, Boynft Beach, Fled& 3 3425 (caDeadvely WIMEAS, Owner owns s, fuel dock nd =wine at 735 Cm Lam Boulevard, Boynton Boach, Mrida, (dw'Tud Dock and Mz�j; and WMAS, Owner is in need ofa Fuel Dock and Slips MAnW for dw Fuel Dock and Maina. to provide Minnegament and Operafton Samoa as dawzAW bdkmr, and WHMUIM, Manager rapawnts that it Is qualifted m, dm supervision, opetalmn, and mmagament of &d docks and ma6ns, and that it has the kamWedge imd d0ty to provide the AUnagment and Opemlion Someas wqWnd by Ownw, ad WMEAS, the PmUm am qp=xtJzgunder ffia Boynton Hz&or h4mm ftd Doak and S14m Managmaitt Services Agramaxt, dpW im September 02012 (the 14 2012 Agreamof), tD which No AddoxIam is Mpg madk and wtdoh has a 3-year torm; and WMREA,S, the 2012 Agracrowt provides ffid the parties may eled to reniew the 2012 Contract for two aMfiond three (3) year terms; md WHIMEAS, the Par1ice wish to remew the 2012 Agravand under vabstamfudly the am twm but with the revised langnap fimnid in this Addendem- NOW TUMLMRJ� in considaratim of the mumal covenants, and promises @at fw& limm dw sdMciency of whwh both Poties WmwledM tho Pmtm agree as fbIlows: 1) Incorporadum Me recitals above and ali other infismation above me heraby incorporated harein w if fkLUy set faffi. 2) Suponeding Agressumt Ibis Addendon shell wbolly supervede the te;nns in the 2012 Agneement, and " control. 3) Appointment of ManWr Mampes Representation. Ow= hmby authorizes M=W to supervise and adminiam the MmmWment and C"ration Swvi= on b"Fof Ovmw m described in tbo Addendam. Owner agrm thet Mmmw 6W be tho sole and caclusive RUM" Paga I of is Fuel Dock and Madm Owner may RW MOOM MaDRSM, in manap any eadlIvy facilities or savic= under fim tam and eonditions of . m an effident and proper protwdon of and zowmidnS for Ownces m Manger roprem* and wwwft 69 w it comply now or aftemanb in d%ot Hof the Mmm in w b located Iwo agnmMOMM (Pt Wnfiff doa=v*) and this A&mdam Nimaga will opmute the Fad Dark mid Minim amr&* to indusVy sumdw& and in the mm mama a °h is l far a is &==cdly and leptly possible, . ', if w Owner MWWW &ban have 5A responmulity fix oil man= PffWn*g to Owner shall have no liability with raspM to employment maftm MkIW don My comply with a applicable law and zwAafions MM gDvan the, amploym- limited MEMWxr, hours of repv=iN dud it is md wit continue to be an aquA opportunity anploycr and must advatise as . NoWffwWm ,' zeture winch may become due fiam t= to timr. far pods and ocz-Aces d=ady itam. Manw OW collect and klentify my inomna due to Owner and such moome daily into ffic Opmating Amount as qwdlied below Matna WM not wnto off any income due widiout the prior written appwyal of Owner. oollwdon firm to collect any inooeam, Ihe bf&nW dall be required to obtain i incurred to owner for WWV8I prior tD P43atat respam u mairdamme, and decarativea for do Pad repairs, Dock and Mam = Mmuger may deem msorallo and necommay &r the proper d000refion Ek which &a cog dmdl exceed w k actiota, includigg 1he expenditure of ftnds, for the protection or Why of the Pad ; bmu d W dy Pqp 3 of ; to the camrgmey, and provide a oapy of such rcpmt to Owner. 0. Convenience Hmited . .i WmB have the of appmve a list of to be sold in wrift prim to the sak of the cmvenienos item. MwaW &W1 be, rasponsiblic . l of dw amount of grm Was, hm any ula ax, go the fee for the right to wM oonvcmicnce i REM to . Ow= 0 conmwow Merhm and not in the nme of Owner. conbsoU l y noommy, or de-4nNe in to =W coam iof bud, , for Do* mid Mnim or any of r eKom of '' ah&U BWly Owner with a copy of any mWA l of Vwposed to l m m ® '4' Dock and Mwina. Owner shnH purchwe aU invadoflM pwvWDnx, i We AddendumL J. AdverUsiz& At Mc requEst of Ownw, and 9 iwd ff appmved advanw in Page 4 of writing by Owner and ,' i , y \ }. o r ` \ . . t . each instance. Y 0 ` o no ! + , , , . . , , hous l ! respons MMUW shall be , rqw . ! complimuse wilh the miss, tWelations or ardw of the joeul board of fim underwriters or otber shatter bedy in si ' ! storap and sale of m y , "�' i ts . . EqMM ! ¥ , resul the enpeam = do MMW If the violation is one fw which Ownw or Aar title hol der Maisaw shall notify Owner a won w possible and " fiffly 9Wcd to .° Penalty pr remedy the v end COOPDXWO , t f vio # fnt receivizig actaid notice of dia vidlation. and the date Manager Sim natim to Owner 60 be borm; by ManW. Dock nd Hu § , ^ ` l , . . , , for t e o even or O&W 40drarce weather Me humenee and artnere wetaba plan should be i / . r < ura hunotry Tenn amd noroved by the Owzw in writing. MerftwL Upon reetuat by Owner, Minager daill obtain and varify ', , a mucie ft, an d ` . y become Jim Rpmt the Fud D an d ` Mari MmmW may, using its \ Owner M to whether to pay or Wool sec! bills. Own s hall ras th th d eter m in a tion a to wheffier to pa o b i ll s. Manager shall provide . the bills for paymant by Owner in suffician than Rw O t ft* bills pay moid penalties for late PaYmC34 or pwmit Owner to talm advantage of any discounts. MauW s hoo no t a , . ity « 7 \! : Par 5 of 15 X In of Owner. 0. Gener&L S*W lo the teems and conditions o l f Opendon Scrivioes Ibr dw Fuel Dock and Marina in an officiad and proper astabliehad or to be eatab lidiad by MimaW for dw opmfion o dock and rewina. Pa t in vxponeffic t sW be opon at all reaKwAae ham for inqwfian and . .t by Owner cc any t puTow. In all cum pmper p . Widutt am (6) months after the. clow of ewh fiawl year of Owner, . Wdependcut t of of t 60 be fwnidied t of do m B. " o . W kin . reawnably thow insumme an to be borne by M=W and dWI indudo but not be limited tD i. or lose of vcndor dismintts due to deky in payment of iii. Ovoxpayxnao� f by cmh or .t card widng from either fiand or euw, 1112 Pap 6 of IV. . t employ= himagoeff savie= for the Fbal Dock and MAdna; and t of f . l mWnWned on site or at it be bome by MwmW. °` PWfitS6 1090% of ). it era sides, wUccdons montbly ddw4q m i collected fbr W sales. sales of A1mvqW"s goods, and invamary. The fwl rqmzt slull be for the days of Monday through Sun&y and aball be due an the pro-Ada Owner with a oopy of the mondfly sales tex paid on Manageeg go an d invmtory to flu Flozi& Deportment of Rcvwm dafly report A. . 'B SWUM Pap 7 f" depwhad by Mmm&w in the t at tbe ' odected by Owner in t1re nwie of Owner shall be depceited . deposit & ). e make wzzwmanw and Owner shall mp all neamary pqerwczk to moo Mum MkmW AW haw no i cladmnic access on a READ ONLY be& to the Opmating Account and ftiut of Sale By#= hr purposm of g f m and the manfigment and opersdon of the Fuel Y W t An PAYMent Of Manag=Nnt C06% which l iwl-ud% but no be henited w, N&ma anplayees, Manna's m msurmwei t a. Owner may disburn funds to itself a it demos apprapdate, Ia Owner. 8) hmmBc& COMPHA= Wit A. OwRiefi i : Owner. at OWDWB CqXULv, wffl dbWn HaMty for loss, d=W or himy to proporty or penom which might aim out of gi insunmto mdaWned "° of flue Fud Dock and MannL oww amal" '' Is Notifies i. 1 receives actice of any such 1 " ; policy H. T" no AcHon (mwh as admizoion of haWity) tW n4& reduce or Owner may 1 in its defum to at dmim M , have t W t Wt limits lick or Policics v. Hm not acmd w~y nr wr=gfully in loss, mda=f MkwW or iu enVloytKs� wA available; d t t My amparde with Ownw and any msunm= company in obtunkS and manxtam " W m 1t. B. Warken t c workers fimmmm OW be for an ammut w m W t 1 1, t . v v Jewt ten 1 ' C&MI4 1adon of or any mnt=W dumge in Policy- " Iwarmcc hianaw must and t 10 limi 1 i t, . Man a .. fa Liabilit ni po t l ew than $25,000.00 per oomumee. 71a be given at lonst tm 1 i ,� 9 of 15 D. Ad&tlonrA a ° to for any ar MkMW 1 gubwntlacim ffid Pat= w0fic Comuxted to tho Fuel Dock and Marina to have E. minimum amuunft. 4 i® wmkees compmadw in dw sWxfty x 9 amnlrined ahwe d. MmuLM t obtain Ownees pemgzzion to waive any of dw abon requiremeou. 1 obtain and on file a =dficaft fI Una tba mA=nftwtvr is fimmv& Owna AM ba named as an wi iU 3 1, 2015 &. of the perdu has ngmd dlia for am additional tbrac (3) yew A- Hither Party may w term this offiw P B. Upon tomift"on of this Addendum, all bum due to ddw party OW bewme 1 1e- addition w Addendum ate antomadaWy and hmmtx1iddly na 1 at ffie Fuel Dock and MAMA. OWW a8mm to give M=gcr prior no*c of my mW of the Fu4 Dock and Mmins, or my portion for .. muga's fiAum to i Owner shall han the right to either tenninde ft Weemmt or to pA Manager an Page 10 of not= of pwbadon. rf OwW PuM hbnw an notice of probaboo, Ow= may te==ft MGMW WWWd ofltM ft MY fMdW WIND to UM01Y PMVMC ft Moaft Rq)aft. E. Ow= may toominate this qx=Kd� wilhout notick if ManW has to comply with &H remd0my gdddmw Md Z"W=@Eb fbr the dmp and dhpauslag of fi4 or ffMmw Am any hawdotm ocindiflons to axist r*pWft dw sb=p and ftenaft offbal. 10) DdaWL 110 fidb= Of GfthW Pddy to wm* with the maWd puyism @a ft& in thig Addenclum aball conshtdo a debA mal breach. of d= Addendum. if do deficAft or , bm&M Puty " to am 1he defindt wi0im sam (7) dap wd#m notke from do aft Pwty the Potynot in bramb or ddmk m@yt=Andod&Addwd=L IlWalver. O%= dzIl not be raqwusible ibr my ymperty dmaaw or p=wd i waidmW by M=n^ MmqWs =pWyeas, at bbnaWs s p o W fi zW mn whatsoever Waited to dw bbinaguned and Operation Samm or Ibb Addandurn, Whether au& d=W or qM ocom beftij &nn& or after the PIC&MMIM of Mmaegmaut ud. Opmation Sanw4des. M=W hemby bmw waives, Smhww% ad Mum Oww. its qpntk and its auuploym% to the AtIM GOM &a kw WWws, fian any Rdfift for say d@mW or qjwy mmWned by MuW TM wai"w dbdmrg% mad rdem apedfloWly InChIde 28998MM by Owner. Us mgmt% or Its empWyves, to &a fiffiest e*w as law ABOWS. 12) Compmeades of Mmagor. Owner Abali pay &a MwWar an amal mmmgminent fba in &a fiamips Wwom.. Fur PiNd YOU 2015 -14 VbM " run ftIn October 1, 2015 — Suptember 30, 2016: $171,435.00 F" HSCRI Y 2016 which Shall run fiam Odebw 1, 2016 Sqftmber 306 2017: $176,435.00 For Find Yew 2017-1 B, which dmU run Ihm OcIviber 1, 2017 — Saptaimber 3t 20119: $181,435.00 Ownw "ll pay tho MauW 1/1 ofthe amoW mauqpgn=t fm an ft &g dgy Of GKh mol dh 9N UWagament and Opmdon. Smvkm parksmad in the Wevious month. Payment ahaff be doomed Ida an *e. ISth day of dw mont% except *a any paymeal owed hr Move An d Operstion Swdoea perfimned nader the 2012 Agremad 9M out be damned late so long as CA payment im noolved. no bdw then October 30,2015. 13) Kademuffleadoof Owner aball kdamnify, wi% and hold h=Wm Owner, im egcnb� aod ju eavloym fiam. any liability. dluin% demand, Ed% 1011; cost expense or d=W which my be aunt4 danned, or r000vewd qpmet or ftm owner, its a8mAk or ib emplo3em by zaaam of my pwperty dvmft= or personal % induding dank ustined by any pmon whomama, which damap is incidental to, o== n a ran% o& wim mot o& or In OMM1 M Par 11 of is odwrwim tolated to the ' ® off Savica ' . l and R intentional OWM, its 8 POIS Or m employm and t ffint the brolmr's intm*= with is pmtawn m of d M bfima Purchawn to was w3d adn'bit ft Fuel Dock and Manna e m I t s pu t t i A. For Ownw. 710 North FedKid Ifighway Boynton Beach, FL 3 343 5, or at tummwinwrift B. For Mamsar.- Waypolut MzdrA IM. GAO 67th Shvd North West Pabn Bawl, FL Any Rich notice, g t or demMA sh&U be deemed dchverW of c , any suboidiary, to any omwation with which it mwps or is ammlW or t any 0MYNIM Page 12 of 15 i 1 m Dock md Mains, as of dw dde of B. Any balm= of miDMOS Of OWner Or teumt awmity m d g a , or Mwln4 to be daHvered i D . ,i uat'U s t Owner W a l �' raladowkp is or &A be mveWd nor &0 exist by, ran= of dw Addendum or dw i ts own 20) Enftmblft and SeverabRity. Ifany PW of M Addendum WWI be declared =lawful or l pates bWing upon the 21) No Dbut nimada& Mm s l u dl &ability for BAY = UM in !is hhing Of cmhwft PrActv-Dm aw0cmUd with this Addendum 22) Waiver of Provision& Owner may, i n i " prov or " ammi" Pap 13 oft Mmmw "I not be doomed to have waived any of the i ° undusundmSbdwan fim Pates wncuring E ° 1' ° laws of de SWe of expmdy 'mis Addendum shaU be demed to be drafted j m vhtue Im favombly tower& any of the Parties by d l awordmcm with the pwpow of ° a is subjed to Chapter 119, FWda SWbAm. rewrds that oxdmady ° B. hvvide the pubHo with aums to owh pablic conditions t tIxt dm not Florida INWI OMULM ant public and aL no pub records dud we excmVt or Owner in a format thd is cmnPabble w with Op Semen Dmdm Bodi, and Owner m ' A in as mmy comtapmu as maybe cmva*W or requircd,, each of wb WWI be demaM an such onginal and n it KK w=tcrpwU may be r is amt via alechvnic for &U Ptupsoo . m " m IN WTrNM8 #^ '' below. day and wfiften .,_ . :........w..._ ...... �.�..A ..... ,° ate: _ Rep awatwimi eOwner Page 15 of 15 RESPONSE TO QUESTION 14 c cc V c :3 0 0 Q c V 4a c C4 :3 16. E % 6 E CL .2 0 1 6 'o C 0 L CL m LL CL 4 CD C4 0 C CM e U. . *.. 0 E o 0 w E o w 'a CL E Cj 0 0 a. 00 lat C CL 0 0 "6 0 %- *- 8 LL. CL C: cm 0— C 12 V 0 m AD 5 0 0 w 2 810 = U) o 0 cm V CL 0 S co CL c E CD 12 c E 0 0 > 0 0 w C g w E 0 . 0 12 • CL 0 0 M X W Cc .0 CL c L- 0 O'D a > Qf R 0 0 C L to- 0 W 0 w = 0 r_ x 12 82 = CM CM L U) 0 o E c 1U i 0 cc 12 cm V S 0 -c: E to CL. r cu U) a 0 r on —20 U) 9 *- (D w • CL IF Z 2s g S 00 2 0 • o Ul a • a 0 0 cm 0 0 0 Co U. . UL cc C4 cq to V- cm W Lo pn %n t CR 4m 0 ca C4 c%r mf 0 w ro ' C o b t;; 062 v- 0 %- Co GO 00 ct cg � r 0 In CD es Ct clt octr: CO T-,Cbl em cm m a w W9. 611q� C 0 a a -0 E MT �w r fA c E = 0 0 LL r c w > > 0 0 CL a E o & �7 w I General INSURANCES 01-51410 FY 2014-2015 2011 ri Il n Year Proposed _ a lrl( r' SUMMAR Budget i e R#dVat of 213 PROPERTY& LIABILITY 109, 109,500 110,500 128,476 18,975 17 OTHERI NSURANCES $ 22,000 $ 22,000 $ 29,500 27,500 12 Total $131,500 1131,500 140,000 177,975 75 5% DETAI 213 PROPERTY & LIABI , 10 , 500 $110,500 $ 128,475 Property, General Lia city, Crime, Inland Marina, Public Official 80,000 $ 80,000 0, Management Liability, Auto, Excess Liabili Storage oll io Policy (2 yrs.) - - - 6, Citizens Windstorm Policy 12,000 12,000 13,000 14,000 Construction Policies 10,000 10,000 $ 10,000 10,000 Policy Contingencies 7,500 7,500 $ 7,500 8,475 OTHERINSURANCES $ 22,000 22,000 ,s 49,500 59000-153 tir e# Plan 1, 1,000 1,000 1 59000-154 or r s Comp Insurance 3,500 3,500 $ 3,500 3,5130 59000-159 a loy Payments 10,000 10,000 59000-161 Leave Payouts 15,000 15,000 15,000 35,000 Notes: Increases due to carrier estimates, addition of new Marina building, parking structures, windstorm coverage increases, Florida reemployment payments and leave payouts. 18 RESPONSE T01 QUESTION 18 Rs o - -- ONN W It O w aCt to toMOIqti r ' r r NNN r M—r to r �7 ® M M OD 1D ® 00 N N M ^ to 69 E9 to W 6 co 03 69 69 to 1 ° W LO O O �t N 0 M N 9 I I J F O C) R r 0 LL 4 C6 wrr M M C: N r r c LL W W GO 69 6969 U3. 69 60 F, OrN 00 It I/i R M M M r r I o In rl- cc co 14;r LO Ln O Ci r r r r r r r O w FA 69 E9 49 603 (a 64 64 W a a 00 IYJ 0 0 v r o M (M z p C3 ' ' a O_ O R T M� c ® R M Cl) o OF 69 64 64 69 M W p V M W r M Go W O R O p p O 47 g�ppp N R W 4t7 N W M et R 113 Ida F• M M R co O M1 Cl) I N +•+ v [V N N o w N ° V r 0 CO � T vz Of CA . - I6 O O Ip N Y r r, T �j m m e9 m as M. f w 40 r H 14C W O O O Wpp U] O r R O p Q� W O O C' o o co C'3 h In N r q. M Iry LO M C9 C1 w w m V m M C ' O R I R F - ti W O R d s Y. N F- LO It] M co v M 4 R w ` C6 V' cY N N M N L U N to O U) 6s erg 64 fA fa 6s m O o O N o 0 o a r In a to O O N O C7 e8 Y m R o o F• a O tD w r W R o O P en O eD ep y. r r R o a m u.9 a C r r F- O O an c g ui ui m o In M co N Sh It7 cm u] e8 r Q y' N m U) Lt] R ICJ N r CD N O tCJ h-. J Y- r In r ui LL r y LL ��?69 b3��4fl 69 ff}69��Gs ts 6969 co Lq o O N O O EO V9 w Ili O O N O O w {'ry co N O O R �p O r ILL 'r` m F• O O F- W O r P a r f O O W lid O r F p 0 O ffl u7 O CG Q e lj N Qy O�i L LLo ®� O r o N m m w�® 'tt I _ O cm 69 � �V9 wE9 wg� wGF 3 , W3.E96a 64 6s to.* CL !1 E cp cp LU N O 11 E % a m OL 10 CD L a s N Y� v tq � CL O w d 0 O 1° c V -6 � LL :3 1 N '.'3 m w = eo U ° °� ECOLo W � Q E U >° .w nar c Q C d ® m Z E) E C v m IL t LL fn ° (n 2 ° rn CL ID M ] U3 � 1- 1- 5 7 U) M IL 0 O ~ .E C LL c W C L ® E E '— _ E F Z c Y N C o C — .2 S Uy F F 5; .`> EL M LO N N ti r N r r M ct co In U7 cm co In r r r r F— N r r r r r cm LU M EN 0 C4 N r r r r r r r r r LU ca f} 't W s+ ® ® ® ® r C6 C4 LO _ "1 r la Cry ci LS N r r r r r ..t r LO r r LO LO M 0 LO Q 0 N CJ u7 h- N r tO Lti N Cl i _ N Imo- r h r r r r o re-rr 4= it I V. * co N N Co E r r r M r LL c t e} K C`'D cq CV C O CO N CM r' w 0 ID N r w to co co Do CY) FA to Lo M r �1-W0 U. yy.. LLI A 1 f LL. y LL 69 &9 GFTO 4& Irm QIVTSIWIV� G%" to CL 0 .. T °� O to L O U 5 °= N r (U .O O N G C r w p o. E> r CD E u7 O OIL O O Lo _O _O O N co O CD .. ® .. O O `U N °- > > > N ` = 0 0 Lij LL LL❑ O O cJ 1 Ile O U Lu C .O eI3 (D O O z co La _ O co U) 3 U U3 > F— F- RESPONSE TO QUESTION 23 01 3 LEWIS, LONGMAN & WALKER, P.A. A r T 0 R N E Y S A 1 1. A W Reply To: - West Palm Beach March 13, 2006 Robert T. Reardon Boynton Beach CRA 639 H. Ocean Avenue, Ste. 103 Boynton Beach, FL 33435 Re: RgLolutlon No. R06-059 Dear Robert: Enclosed for your flies please find a copy of Resolution No. R06-059 of the it Commission approving the I ocal Agreement between the it and the CRA to permit the CRA to utilize the City's benefit plans. If you have any questions regarding this matter, please do not hesitate to call. Sincerely, KGS/ma Ke net il 4 lias, Enclosure 1 :%rJiwt DucurnentfiNBOynton Bearb CRAl2419-01)[WorMeanlm I& 2.&c RECEIVE[) MAR f 5 2006 BOYNTON BEACH C.R.A Helping Shape Florida's Future BRADENTON JACKSONVILLE TALLAHASSE E 1001 Third Avenue West 9428 Bayrneadows Road WEST PALM BEACH Suite 670 P.O. Box 10788 (32302) 1700 Palm Beach Lakes Blvd. Suite 625 125 South Gadsden Street, Suite 300 Bradenton, Florlda 34205 Jacksonville, Florida 32256 P M-7108-4040 Suite 1000 Tallahassee, Florida 32301 West Palm Beach, Florida 33401 941-708-4024 P 1904-737-2020 ® f j IM-737-3221 P 1850-222-5702 - f i' B P 1561.640-0820 ® f F 5611 www.11w-law.com I 2 RESOLUTION NO. R06- 3 4 5 A RESOLUTION OF THE CITY COMMISSION OF 6 BOYNTON BEACH, FLORIDA, APPROVING THE 7 INTERLOCAL AGREEMENT BETWEEN TIRE CITY OF 8 BOYNTON BEACH AND THE BOYNTON BEACH 9 COMMUNITY REDEVELOPMENT AGENCY FOR TO 14 PERMIT THE BOYNTON BEACH CRA TO UTILIZE 11 THE CITY'S s AND PROVIDING AN 12 EFFECTIVE DATE. 13 14 IS WHEREAS, the Interlocal Agreement permits the Boynton Beach Community 16 Redevelopment Agency ( ) to iii net Plans for coverages that ff 17 employees of the City through negotiated agreements i t rovi or the benefit of 18 CRA employees; and 19 WHEREAS, the City Commission of a City of o n Beach, on 20 recommendation of staff, deems it to be " the best interests of the residents citizens of 21 City of Boynton Beach to approve the Agreement between the City of 22 Boynton Beach Community Redevelopment Agency permitting ti the i 's 23 benefit plans. 24 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF 25 THE CITY OF BOYNTON BEACH, FLORIDA, THAT: 26 Section 1. Each Whereas clause set forth above is e and correct 27 incorporated he i y this c. 28 Section 2. The City i f the i ty of Boynton Beach, Florida s 29 hereby approve t t between the City of Boynton Beach and e Boynton Beach 30 Community Redevelopment Agency permitting the e a Community S:iCA1 gee ts%lnterlocal with CPA (Benefit Plans). oc I Redevelopment Agency to utilize the City's b e n e f i t plans f a r e mployees, a copy of said 2 Agreement is a d hereto as Exhibit "A". 3 Section 3. That this Resolution all become effective immediately upon passage. 4 PASSED AND ADOPTED this 6W day of Fe . 5 6 CITY OF BOYNTON BEACH, FLORIDA 7 9 r 12 13 14 15 0 is iz�x�cr 16 17 d- r1 19 Commissio r 19 20 21 Commissioner 22 ATTEST: 23 24 21 Ch CleTk 2 / 27 28 W. 29 30 A S:%CAIRESO%AgrccmcntcNkyWfecais%ILA with CRA (Henefit Plans).doc INTERLOCAL AGREEMENT This is an Inter local Agreement, made and entered into this 14th day of Februar 2006 by and between: CFf'Y OF BOYNTON BEACH, a municipal corporation of the State of Florida, hereinafter referred to as "City," AND BOYNTON BEACH COMM REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part 111, Florida Statutes, hereinafter referred to as "die CRA" or 11 ® 51 WITNESSETH: WHEREAS, this Agreement is entered into pursuant to §163.01, Florida Statutes, also knD wn as the "Florida Interlocal Cooperation Act of 1969"; and WHEREAS, the CRA is a public agency created pursuant to Ordinance No. 90-21 to August 7,1990, as subsequently amended; and WHEREAS, it is providing the CRA with the ability to utilize exist® City agreements with providers of health and other insurance, thereby allowing CRA employees to participate in health and other insurance plans under the same coverage's and programs offered to it employees; and WHEREAS, City has entered into a health insurance plan with Blue Cross/Blue Shield of Florida, MetLife dental, vision care, and life plans for the 2005/06 fiscal year (the "Plan" individually or the "Plans" collectively); and WHEREAS, CRA is desirous of participating in the City's Plans for the benefit of CRA's employees; and WHEREAS, City has no objection to CRA or its employees benefiting from the Plans negotiated by City with private providers ("Plan Providers"); and WHEREAS, the Plan Providers of coverage's under the Plan have agreed to fumish services to the CRA for the benefit of CRA employees at the same rates, benefts, incremental costs, and to and conditions contracted for with City; Page I NOW, THEREFORE, IN CONSIDERATION of e mutual terms, conditions, promises, covenants and payments ei set forth, City agree as follows- ARTICLE l- PURPOSE 1.1 The Purpose oft is Interlocal Agreement is to permit the CRA to utilize the Plans arcoverage's car to employees of the City through negotiated e e is with Plan Providers, rte benefit of CRA employees. t al y desire to formulate such relationship in ter local Agreement. The intent of the parties is that all plan administration responsibilities, premiums, and any other costs and expenses associated with the providing coverage e 1 s to employ employeep shall be the responsibility of the CRA. It is also the intent of this Agreement that any apportioned costs for so loss coverage and for the City's assistance be incurred by and be the responsibility f the CRA. ARTICLE 2 - SCOPE OF SERVICES 2.1. Subject to any separate a a t (s) being required by the n vi (s ) of City, CRA may offer II t to CRA employees i the r the 2005/06 al year under the terms and conditions is Agreement, and subject to renewal ' e in ic1 below. Subject to io n from a Plan Provider, it is the intent of the parties that the CRA shall be subject the Plans, coverage's, a ti ti s, and agreements t i the respective 1 Providers. CRA driderstands that the individual n Providers may require CRA to into agreement wi the i , in ss c, piggyback the City's agreement t Plan Provider. However, it is further recognized t, except as negotiated between y Plan Provider, such e Plan Provider shall be under the same terms and conditions s the City's agreement with Plan Provider. i current Plans and Plan s are set forth in i t" copy of which is attached reto and made a part of this Agreement. Based City's independent negotiations or services and coverage It vI , Exhibit "A" to this Agreement may be amended by the City on 1 basis without the si or City Commission approval. 2.2. CRA shall administer the enrollment and cancellation f CRA employees in c Plans, and shall remit to the Plan providers monthly basis in cc c with i' agreements with any Plan Provider, the CRAS share of contribution required for such premiums and coverage's resulting from CRA employees' enrollment in e Plan. The CRA shall l responsible o collecting itti all required sums from its employees. se of Plan Provider ents shall in no way bind City. 2.3. It is s and agreed that i shall not be responsible fo y costs or expenses, premiums, or contract r ire et in o o with e CRA use o City's Plan Providers, and that CRA shall hold harmless $ indemnify C to the extent permitted by law, for any costs or expenses is a let providing and making available such insurance coverage o employees. CRA shall reimburse City for any additional costs, if y and in addition ose ifi provided in this Agreement, incurred u a to by City in era i this Agreement. Page 2.4 Should CRA desire to have City provide any services in connection with the provision of insurance benefits to CRA employees, a separate agreement or amendment to this Agreement shall be required and mutually agreed upon by the parties. 2.5 City will provide reasonable assistance through its Human Resources departmental staff to CRA to answer questions regarding Plans and Plan administration and in contacting Plan Providers with CRA matters concerning the Plan(s). 2,6 CRA expressly understands and agrees that, subject to any separately negotiated provisions between the CRA and any Plan Provider asp vi or in Section 2.1 above, Plan premiums, costs, benefits, and coverage's may be changed by the City or City's Plan Provider throughout the to of this Agreement. 2.7 Except as specifically provided in sections 2.8 and 2.9 oft i ent, CRA shall make all required payments directly to Plan Providers, which will bill and invoice CRA separately from City, in accordance with the agreement between the CRA and the Plan Provider. CRA shall have separate account numbers, separate accounts, and separate invoices with Plan Providers. 2.8 CRA shall have no right to select any of the present or future Plan Providers of the City; nor shaJI CRA have any right under this Agreement to determine coverage's, premiums, or terms and conditions of agreements between the it and any Plan Provider. 2.9 Should City purchase stop-loss coverage from any Plan Provider, CRA agrees to pay its share of the premium for such stop-loss coverage, apportioned based on the number of CRA employees and the additional pooling charges assessed by Plan Provider(s). Unless otherwise directed in writing by City, CRA shall pay it directly for this incremental cost in advance on an annual basis. CRA shall pay City pooling charges in accordance with Exhibit "B". a copy of is is attached hereto and made a part oft is Agreement. 2.10 On a monthly basis, in advance, CRA shall pay the City an administrative charge equal to Ten ($10.00) for each CRA employee enrolled in any Plan of the City. 7bis administrative charge shall cover a portion of the costs incurred to the City in assisting the District and their employees with issues related to insurance and Plan coverage's. ARTICLE 3 - TERM OF AGREEMENT 3.1 This Agreement shall be deemed to have commenced on March 1, 2006, and shall continue in full force and effect until terminated by either party in accordance with Article 5 below. Page 3 ARTICLE 4 - GOVERNMENTAL IMMUNITY 4.I City is a state agency as defined in Chapter 768.28, Florida Statutes, and CRA isa 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 hereins all be construed as consent by a state agency or political subdivision of the to of Florida to be sued by it parties in any matter arising out of this Agreement or any of contract. 4.2 Both parties acknowledge that this an Interlocal Agreement created pursuant to 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 wMch 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. ARTICLE 5 - TERMINATION 5.1 This Agreement may be terminated by either party by giving notice of termination in accordance with Article 6 herein at least sixty (60) days prior to tee it i n of any renewal of a Plan or any new Plan, provided that such termination does not adversely impact the City in its contractual relationships with Plan Providers. City may terminate the Agreement immediately upon notice from any Plan Pmvider that CRA is not complying with plan administration procedures or is not paying premiums to a Plan Provider in a timely manner, and such default or breach by the CRA may adversely impact City's agreement with that Plan Provider. ARTICLE 6 - NOTICES 6.1 Any and all notices given or required under this Agreement shall be in writing and may be delivered in person or by United States mail, postage prepaid, it class and certified, return receipt requested, addressed as follows: TO CITY: City Manager 100 as Boynton Beach Boulevard Boynton Beach, Florida 33435 Page 4 With copy to: City Attorney 100 East Boynton Beach Boulevard Boynton Beach, Florida 33435 TO CRA: Lisa Bright Executive Director CRA 639 E. Ocean Avenue, Ste. 107 Boynton Beach, FL 33425 With copy to. CRA Attorney c/o Lewis, Longman & Walker, P.A. 1700 Pahn Beach Lakes Blvd., Suite 1000 West Palm Beach, FL 33401 '7- .I NS 7 ASSIGNMENT; Neither party shall have the right to assign this Agreement without the express mutual consent of the other party. 7.2 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 6, advising of the disputed matter. In the event that the disputed matter is not resolved to the satisfaction oft CRA and the City, the dispute shall be submitted to a mediator mutually agreed to by the parties before any litigation is brought. 7.3 WAIVER: The waiver by either party of any failure on the part of the other party to perform in accordance with any of the terms or conditions of this Agreement shall not be construed as a waiver of any future or continuing similar or dissimilar failure. 7.4 SEVERABILITY: If any terms or provisions oft i eement, or the application thereof to any person or circumstanG,5 ll to any extent be held invalid or unenforceable, the remainder of this Agreement, or the application of such to or provision, to any person or circumstance other than those as to which it is held invalid or unenforceable, shall be deemed valid and enforceable to the extent permitted by law, 7.5 ENTIRE AGREEMENT: It is understood and agreed that this Agreement incorporates and includes all or negotiations, agreements or understandings applicable to th Page 5 matters contained herein and the parties agree that them are no commitments, agreements or understandings concerning the subject matter of this Agreement that are not contained in this document. Accordingly, it is agreed that no deviation from the terms hereof shall be predicated upon any for representations or agreements, whether oral or written. 7• 6 INDEPENDENT CONTRACTOR: City is an independent contractor under this Agreement. Any services provided by City pursuant to this Agreement shall be subject to the supervision of City. In providing such services, neither City nor its agents shall act as offi cers, employees, or agents of the CRA. This Agreement all not constitute or make the parties a partnership or joint venture. It is understood and agreed that employees of the CRA arc not entitled to any benefits offered by the City to City employees, including those benefits offered by Plan Providers pursuant to Us Agreement. Any benefits to CRA employees are conveyed by the CRA and at the cost, expense, and liability of CRA. 7.7 MODIFICATION: It is era that no modifications, amendments or alterations in the to or conditions contained herein shall be effective unless contained in a written document executed with the same formality and of equal dignity herewith.. 7• 8 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 jurisdict 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 anys h litigation. 7.9 DRAFTING: This Agreement has been negotiated and drafted by all parties hereto and shall not be rnore strictly construed against any party because of such party's preparation oft i ement. 7.10 RECORDING. This Agreement shall be recorded in the public records of Palm Beach County, in accordance with the Florida Interlocal Cooperation Act of 1969. day of IN WITNESS WHEREOF, the parties have hereto set it hands and seals this —At RW ' 2006. BOYNTON BEACH COMMUNITy REDEVELOPMENT AGENCY 133 , ;y; n 2 �--- t nn ATTEST: P 'nt name: Chairman SEPO414E Aek"%L-to-4 Page 6 Print Secrr.%fary i Appro d s form: L i i , t CITY OF BOYNTON BEACH Kumrit Br r, ity Manager Attest: 0 *Jet i gy o, City Clerk (CITY App ved as to the it Page 7 EXHIBIT "A" Plan Providers Medical r l i eld of Flori BlueCareP for large employer groups is r t offered by Health Options, Inc. (HOQ, subsidiary Cross II f Florida. The features I r r- l range of benefits for hospital, physician and other medical services • Preventive r , such as routine physical exams, well-child immunizations n health i • Predictable costs through pre-determined for It benefits long as care referrals r coordinated through a Primary Care Physician Our BlueChoiceP PPO (Preferred Provider Organization) plan offers the freedom to choose any doctor and hospital for care. However, members receive xl mum benefits and are free claims din g and balance billi sici s n r i icipate in network. the PPO Our I ti ons$" PPO health insurance pof r to choose doctor and hospital for care. However, they can maximize it benefits, and free themselves from I i filing l c billing, by choosing i i providers ici to in our r l s ' provider network, Additionally, members are protected from I billing when they receive covered is r om an Out-of-Network provi t who participates in r Traditional Program Network. Dental - i Dental care is f healthy living, this I benefit plan is i appreciated I benefit. Yet, many employers not r a dental benefit plan their overall benefits programs. This can add a financial burden for employees. Fortunately, MetUfe has the knowledge innovation r a range of affordable dental benefit plans to fit the needs of nearly employers. Vision - VislonCare VislonCere Plan offers employees their dependents a benefit that covers all routine care, including eye exams and eyeglasses (lenses and frames) or contacts. The plan features: In-Network ut f- r fi . Exam Plus, iy rf contacts you t your exam plus allowance for contacts in place of lenses r . i Jefferson Pilot vi life insurance ci I death coverage to all employees and their dependents. Program Terms Page 8 The medical, dental and vision care programs are all annual programs wfth a contract renewal date of October V% however the programs are administered on a calendar year basis. The life and AD&D are on a 3 year contract. Page 9 EXHIBIT '1 Special Annual Pooling Charge Statement Pooling Rate tW Type Monthly Pooling Coverage Enrollment Tot Ex ease EO 14 $ 15.96 $2,681.28 3231 785.04 EC 0 30.16 0.00 EF 4 37.91 $1,819.68 TOTAL 20 $440.50 $5, N The above pooling a calculation for CRA is on last experience month of the 12 month i The City's 10 /1/2005 renewa was based. The actual a expense c ill be prorated to coverage The accounted in c tober 2006. Should average enrollment be less than tbat shown above, 'y will reimburse CRA the amount Of Pooling expense charge overpaid, Should the enrollment be less t shown above, then CRA will pay The City the additional pooling charge i annual enrollment times the above pooling expense charge rates will equal the actual annual pooling expense charge for the 10/1/2005 9/30/2006 lic ,) Page 1 RESPONSE TO QUESTION 24 a t Y b IF I 4 • �.,F � fi, � � � �._ -� � � yet, � ��- � s E_� N LM N Do bA 0 CO Cc LL N 6 0 00 L r r N \° 0 ci o !� o � ® ®® In ® , 0 JUL 04 V) W i rl CD ui IL V co co j s I . ®- 4a z ® 0 UL U ® .® .�, — L T T 1 w w w ., n T T w N T W fu L IM T - ocDolo ° Cb ® 1 ' o w U. ci 1 L T T L T T w ffi CL LL fa tv • 4�awo L 1 low ® T = Cm L L IL _ L L L ® L ® ® L L .® o CL ® L L r, L E is . CLE U 0 L L® M T L W d CE, T Project Fund Revenue & Potential Projects I FY 2015-2016 (1} (2) (3 ) () ( } Project Rollovers (Fun in Revenue for New Total Project rym- Projects P roject De lan is 3,794,1 of 8126/16 our : Incode and Budget 0 Tracking Workshe P roposed r J 201 Model Block $ - $ 550,000 $ 550,000 Comm unity Poli - $ 200,000 $ 200,000 Cottage D is t rict - 100,000 $ 100,000 D i st rict I r r - $ 50,000 $ 50,000 Ongo ing Mul Pr ojects - Budgeted in 1 1 ProfepAjgnal & Other ExRenses Surveys & Appraisals I - 1 00,000 $ 100,000 Design & Engineering I $ - $ 150,000 $ 150,000 Contingency - $ 100,000 $ 100,000 Plan Updates All 116, 800 - $ 116,800 Boynton A c h Blvd. Design 108,410 192,000 300,410 Legal Work - Project Fund $ - 150,000 is 150,000 CaRltal OutIp2 Property c isitin $ 613,024 314,083 927,107 Marina Open Space Construction (a) DTMp $ 834,030 $ 740,122 $ 1,574,152 11 Renovation Grant 5TWP $ 200,000 - 200,000 Parking t Construction - NE 4th DTMP $ 171,713 $ B0,000 $ 251,713 Town r Project 134,083 $ 65,917 $ 200,000 Site Work & Demolition I $ - $ 100 1 $ 100,000 Economic D v loo Ant ro 1 Economic Development Grants Ai I 400,000 650,000 Marketing r r s 142 J$ 142,000 Projects & Programs Special Events DTMP $ - $ 410,000 Business Incubator r j I - 1 $ 50,000 50,000 Community, Planning, Eco. vi. Meetings All $ 50,000 Sub-Total $ 2,578,060 ,1 ,1 DIFA Payments - Total 1,240, Total r j n 7,612,182 R ollover Reallocations from IFY 2014-2Q15 Amount of ollover to to to: Marina Open Space Project Wayflnding Sign for Art District 25,000 Marina Phase II - Harbormaster Building 30,000 FEC Corridor Landscape Project 93,775 Dewey Park 20,985 Walmart Brownfield 22,500 Sub -Total Reallocations 192,260 Marina Open Space Rollover FY14 -15 641,770 Total $ 834,030 4 RESPONSE TO QUESTION 26 t t( ti c`c 67 u I , T -' At 0 a E � Lu y ED '+O t t. 5': r .ts ✓� •4� •. �° — pl �" b1 t• i (¢1- - i ,�I# f� z 1 s E Z1 - tc3 CL� c c co ° Ll D x 0 00 , z- ° _ m I m u o � ~ E I 1 Ln G1 ev i E a i .-I i v °` ° ti 61 C4 J . ey ei Y m `n - h 5 m d a v M c E N _ }. ® lu c � Y a rn iJ N S i v U 10 Oe ev C y= In V+ n Su ® as t v ° > 4 t ° E N m o M cn C. dy X ,F L d } Ln OD N M 0 m rri W V t � ca +� c t pt VM a�Ln w N °ta as :D y , c> s c+ a �+ r. `a m al► N r C� 'O w 1-4 N c' as ,� s..� _, e4 o: eV C' t n j . ei iC > °� W d V. EA fR bq !q iA W 0 LU , a�Zi y•B bA h q a� cn ya+aQL"M .s@ w M m c U v w °� _= m o �° U E cn at _ N 9 u e9 U a w vi c , of v c w x u v s k ® o �� �a 1 h Ln S E ac d 'C u O _rA 3� O ��-' M C E�,+ s E�i a a�- v o 73'q . N: c �I, o o m a N� N [a7 o as °+_max vnucxY� m a x m� _•�vt _ p ac ° O D tQ d C O t6 C •� - O t4 O '+w C1 tp I- Q ®s+ 4+ a� ro ._ u «+ 7 h E La H h d F• 4 U U❑ w U ° - w ® 3 so�wc y- ne U �� w +� ,„ as u U u c c t a c c > t- ° 0 C w C 9 c o R° " C C CL v a c M_ c r w ass as E W eq t U E o E ^a � u u oo m ` N wa y® y °' v a V c m ° v ®� ° ®c ar, .c t Q o a` E c w Lit ° as > > y nc aLY c c a�'r s t v (D ya c c v¢ c= Y ra as c E E m> vs C m °O C O CL •p O c' C u y 'v o.: n U O. ° _� uj as s r` ar c t m n v : y m E o n c U� J p H . R c E o C L j = � ® ®'��y C08 �un °1 ® may° s c ❑ M 3 y o° o D® ma c - � L ° M c o® +. ❑ d U s° U u m m 92 C4 avi a '� a. °) m u = a E I u ��c+� �m� cL� ®u — -- O n E a N °� +� E® CL c a .$ ;® c® r ° H ® aj U RESPONSE TO QUESTION 27 0 10 0 0 0 0 CM W 0 0 r r Q 0 0 00 ® r P• r r i r ® r CD r — r 1 0 V r CL cm U . ® L ® R Q CO CD r Ln LL C F cri ® Cc • ® E 0 Co tol — L L _ L .� — , .® 4w 0 o 15 L - .® L L r L L 0 ` ®L is Rejp2M Ito Paula Me ! _ uesti on 27 17 27.) what have the costs been t 3 years rte professional and other expenses item? D legah et al. Source Response: Budget Documents Project Fund FYI 5-16 FY14-15 FY13-14 Design & Engineering $150,000 $ 75,000 40,000 Surveys i Is $100,000 $ 50,000 $ 35,000 Legal $150,000 $150,000 $100,000 Site a olitlo $100,000 $100,000 $200,000 Contingenc 1 , i $450 $450,000 RESPONSE TO QUESTION 28 N I h co cl h M coo LO M M 0 M r r ti M M c w e C M r h co cc cc to lfl r r r r r h to v r 4 1 4e LO 00 Co _h NN r CA MLO ti N r M w ti N w ~ I� Cl M M N N w h h py N IN N ci CV ci N N . I w CO) CO) M M CO) C9 cM M r h M r r r r r_ - r crt M N CV N Af 4 L NO N et r La N N h r CD OQ N r I v- In to r M CD W gr CD h N ri cc 0 M o t h N M cc Q me M co o Co Co CA do N r COY Rt W M N r Go In c C N N N N R N N N N c o R V- r r e- r r r V F 40 s a e ® w s ® ® ® ® r Ld M M +r r N N 00 C"O C2 r r r r •- r N N N N N N N N ULL LUL � L LL. LL LLB. ntj O N c o o m 0 0 . in 1.00M1A r00 M eta tl 4MqFM V N MMLei of O T r r r T T r r T r r in M C% ® 9 e N cm N CM N N N N N N N N N ld > U ! cm � 40 40 6} ow 40 4* Willi 60, 40 v O CA O O at O r r r r T r r T r r r T r r ' ' Wt N N N N N N N N N N H .., to CY3 cm LO 10 r 1►: T T P' ' 0Nq~7N �9bOS T 6F1 4 W 4* 0 0 co cc T w m w F F w w R 1 8 1 1 1 i 1 1 1 1 1 1 1 t ct R � � r r cc � O � D- ca r to T T T T T T T T T T� p N;: T 0 cm w cc co w O O T ® 1 i t t 1 t 1 1 t a CD 40 CD T ia 1 01, I to), I I 1,* 1 4* I 14* *H�4* 40 to T r+ T M T T T T T T W 1 1 i 1 1 Y ® t 1 t cm C4 T r T T T P U- I U- I FT P 1 P 1 P I L l e r cm IV cc co V- w wl w in cm r r T T T T w CM P- to .` ® LT n NJ T ® _ aj W W. I h- lcm 0 E^ T r. gf �li N Clb r r T W) to CCS N CO T N 0) M W N CA It CC1 CO CPA CCF CID It C� C7 r CR OW *Fll pv T T T r r f' _ r r _ _ _ r N T r T T W 4i ra r� at .® now w ai i _ _ M cm co Ln T _ v to K L LU 69- In co co RO a° I ® ® e f ® 1 t 1 1 T 40 Cp co cc C4 cm C4 cm ® ® ® ® i ® ® C4 m Y C4J C4 T T r cm A C4 0 0 CDC) 04000 L-i M I RESPONSE TU QUESTION 31 vt IT !, g 60 "SD RESPONSE TO QUESTION 33 T uSO O® htOC C M1 Oao N P T M r m rT N r r T SO c ua o a co m w a cri U) 0 M to M N° _ c _ — r Iq FOw ANC. ®e Nf N M , ®® N 40 : pp we, p h- O h a 0 O ® d p C O _ M1 *q CO N W M C, 0 C D, `E" ° o �mu gg M1 og M MN T Ntl® Mgr y- T d1 r r N N Cl 'a 0 Go MM ®p ®O F ��69 w 00 M L3 my C4 W u5O l+0OQ ry W V _ 0 rf ® R 0 ® T�' ' OQNU74tN erygN . r r CO T r r r r CIF NMff W' V 4fi 69 69 [A 64 m w 69 tal to fA t9 40 to c LL 00 0 tC3W �NM 0006000 M W M O o N P-M1 to u565 OOOO a m st o m df1 W �' N In 0 M1 a d13 0 a U9 u7�N M CV d' M r r m m r N r r T N N or ce Ol W 6' w R E F m sm c m = c m u CL c� E e �° p G E33 v U. LL mE-® �cC 3 mE m� '28 CL gym— �2 chi' ` E' a d E is 2 0) m w m m❑ COLD m N C � c'9 c ® c p m c c o' .QO m F m `mm o m W rc� w Lcc E cm inw d mF E c�� cH?`m£'o a L O F u arc» ca�SU F dFt- i- P RESPONSE TO QUESTION 34 gate M N a o `$ n om� r ° o oe w w T �w m o ® •o �Pb o = n w nZ® o no w MW w w w w w in W16 fio w 40 •+ m • �, c w, E _ cffiH i 6 o 8 o E cQ vs EL °m " _ N ° ri a wwww y w w n w w w ww ^ ~ uw r n w m r oan fm cm ° o ► yy tiw ^ n m ¢s r w r N ww.w w to w in w w ea w uD w #a to G& to w w •+ ® ®brio ws a ® m N o d ' °o nr ° o a ` r o ° ae eV o ct � H c t ° m M N o ei - Z; if w wawww r w w w W w w to w w w w w m www g o o r o m m a o o r a o 0 o m vs in ro ,�` Ilk o o we5o 2 a ig S® °_ r m 16.6 .N w m ti r- r w h o r cu r n m r r r r N w4 ww w w w w w w w ww w a o+ omen oo r m or o mo m ooLn m V ®o °arm ® m o o0 8 r w" a ° _ ° on"w n� m oo ea q g E w � o w o N� w r ri r e® o o 6; o em +o R 4Rt1i w� ti r en r hm n e N m r n r M g a'wwwww w w w w w w w ww w w m wwwwwww c o wS w w c w a o w w m m m® ® T w owa n �w tD @ c.p �m d °m w +®� o ®m ®Cm am o ®a o a dew a q® w �F ® m c a a g a ° x z z esc CC ° _ Qya m xw wcQ ® z Y�� m ® L u ° c �Or i ®= Om cm° ° � m ® =. u LU �d� m vm va® Y =mm 'e w ®® c �i ayao ;® c ®s °® a ® w� ®a as ®boo IL a e w� a Uc c c c i cy m r IL an ao�cL ® a m o oid'�'m ®m w a uo c o LL a oan? w w V m mm w -Z 3 0 u e ffi RESPONSE TO QUESTION 35, ® 35. The Boynton each Community Redevelopment A gency laun a branding campaign and a to Catch Yourself in Boynton each balancing the City's fishing tradition with its new colorful friendly outlook to change the perception Downtown Boynton Beach. The visual elements oft campaign captures the essence of the lifestyle of Boynton each with a colorful splash of water to represent the Boynton Harbor Marina, one oft e many unique assets in the City which has been a focus oft e CRA's revitalization efforts. The campaign began with a focus on the Boynton Harbor Marina, the City's natural "gem," located in the heart of the downtown district and identified as the eastern anchor of the City's downtown core and the only south county public marina. The "Catch A" theme was based on the City's historic element of being the first fishing village in Pahn each County. Working with the rebirth of the Marina and the surrounding small business district the visual elements of the campaign captured the essence of the lifestyle of Boynton each while supporting the small businesses. The marketing and branding campaign Catch Yourself n Boynton each works as a catalyst for long- term growth by supporting the broader vision of delivering and communicating value f o r t he purpose of attracting new residents, visitors and businesses to downtown Boynton Beach. The perception of Downtown Boynton each was the main objective in this marketing/branding campaign. Revitalization efforts must work together with marketing efforts to it a community's image. The CRA received more inquiries from new businesses, reduction in leasable space and the businesses have responded favorably to the campaign. Thep do is changing in our special events with a 100% turn around with more family oriented attendance. The City's rebirth is underway with a positive sense of Community. The campaign has promotional value that can be leveraged throughout the year such as: a Video ad campaign Movies in the Park This concept of communication offers a positive finpact by promoting the business located in the CRA district in a 2 minute video. The goal of this marketing effort is to inform, entertain and promote downtown as a destination, increasing ten of visits to the area and creating a positive economic impact. The campaign films 40 businesses a budget cycle 5 are presented at Movies in the Park followed by a drawing of gift certificates from the featured businesses that encouraged winners to try new businesses they otherwise would not try. We have 250- 300 people consistently that attend the Movies in the Park event. * New Catch Boynton website The visual elements oft e website capture the essence of the lifestyle of Downtown Boynton each with a colorful splash oft to represent the Boynton Harbor Marina. 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 is tool is user friendly allowing staff to manage and maintain their departments to ensure the information remains current. The website offers a clean modem design, easy to navigate functionality and a content rich site experience keeping residents, visitors and stakeholders informed of what's going on in downtown Boynton Beach, Monthly double page spread ad in local newspaper and bi-monthlyfull page ad in Pineapple Newspaper A double page spread ad runs every month in the Boynton Forum showcasing the local businesses ors ii events to generate public awareness * Street Banner Project throughout the CRA District Street banners are designed to raise the visibility for travelers along the major streets, to mark a destination, and to add color to the City's streetscape. During the fiscal year, the CRA installed banners in various districts throughout the CRA to delineate a district or to celebrate a particular event. The banners include t h e n ame of the district to help identify and market the area along with decorative artwork that supports a messaging for the City. This artwork is then carried out throughout other aspects oft e CRA's marketing efforts. a Special Events 22 Special Events are marketed with printed collateral and digital display such as: poster, postcards, signage, highway billboards and digital ads. 0 Social Media Connecting wit he community through social media byusing plat fDrms such as: Facebook, histagram, Flickr, or Press to site, Twitter and You Tube: increases public awareness and reinforces the brand which positions Downtown Boynton Beach as a destination for cultural and entertainment activities. Marina Marketing Campaign- "Catch a Memory Your Family wil/Always Remember" Printed collateral and digital display such as: post signage, highway billboards and digital ads Coastal Angler Florida Cruising Directory Dozier's Waterway Guide Pineapple Newspaper fall page ad Boynton Forum double page ad Neighborhood News double page ad Hotel Touch Screens & Maps Press Releases for special events, development projects and emerging businesses o Awards - Florida Festival & Events Association The Boynton each Community Redevelopment Agency received four SUNsational awards on August 6, 2015 at the 21 st Annual Florida Festival & Events Association convention and tradeshow held in Orlando. The SUNsational awards program recognizes the creativity, innovation and excellence of FFEA members from across the state of Florida. Nominations were accepted in nine categories, including Printed Materials; Outdoor Advertisement; PR / Media Campaign; Photo; Promotional Item; T-shirt; Broadcast Media; Multimedia Marketing and Programming. The nominations were judged by a blue ribbon panel represented by media outlets, printing companies, web sited esigners, photographers, promotional marketing professionals and social media experts. a I" Place — Promotional It — Boynton each Haunted Pirate Fest & Mermaid Splash Business Development Treasure Hunt and Treasure box 0 1 " Place — PR/Media Campaign — Boynton each Haunted Pirate Fest & Mermaid Splash online Marketing a 2 nd Place — Radio ad — Boynton Beach Haunted Pirate Fest & Mermaid Splash 0 Y Place — Outdoor Advertisement Boynton each Haunted Pirate Fest & Mermaid Splash street banners Tourism - "Be Our Guest" Catch a Reservation Concierges VIP Tour As part of the ongoing CRA business development and marketing efforts, the CRA hosted a Hotel Concierges VIP Tour on April 8, 2015. The main objective of the to was to introduce the Concierge Association of Palm Beach County tote area to promote Downtown Boynton Beach and the Boynton Harbor Marina as a tourist destination. The Tour showcased the local restaurants with a trolley ride throughout the district stopping at Hurricane Alley and FSB Menswear fora presentation of food and sop`ng. The next stop featured Cafd Frankie's and The Fancy Flamingo promoting the diversity in Boynton Beach. The to ended with a final stop at the Boynton Harbor Marina to highlight the Marina merchants with a walk down the docks and a meet & greet with the Charter Captains followed by a dinner at the Dock Master building with a surprise visit from the Pirates to promote the upcoming 2015 Haunted Pirate Fcst & Mermaid SplasK The CRA has received positive feedback from the Concierges Association and the marina businesses, retail stores and restaurants in the CRA district. Continuing a relationship with the Concierges Association by keeping them engaged with brochures and activities in Boynton Beach is part of the overall strategic plan of the Hotel Concierges VIP Tour. Communication is an important part of the plan in order to shift the perception of downtown Boynton Beach. 0 Tourism- Discover the Pahn Beaches & Visit Florida Asp of the CRA's increased marketing e for Downtown Boynton Beach the City and CRA became Signature Partners of Discover the Palm. Beaches and have been working very closely with Discover the Pahn Beaches staff to highlight Boynton's many opportunities to tourists. President and CEO of Discover the Palm Beaches, for Pesquera attended the Concierges event and spoke to the attendees out the happenings in the tourist industry for Palm Beach County. The Boynton each CRA's strategic approach for improving the general business climate included introducing programs like the Hotel Concierges VIP Tour which recognizes tourism as an important driver of sustainable economic growth and job creation. Due to the success of this event, these types of projects will be conducted regularly to draw more attention to downtown businesses. Question 68- Marketing Economic Development Grant Incentive Programs The goal of the CRA is to encourage new businesses within the CRA and to assist with the expansion of existing businesses. To help with this goal, the CRA offers four incentive programs f o r s mall businesses and commercial property owners and is marketed through brochures and social media. Commercial Construction Project Incentive Program — Grant funding for projects valued between $1 and $249,999 will be reimbursed 2.3% of the project's construction value and projects valued between $250,000 and $400,000 will be will be reimbursed 3.3% of the project's construction value not to exceed $66,000 to help offset the cost oft e City's permit fees. Commercial Facade Program — Grant fimding up to $25,000 to improve the building exterior and site. * Commercial Interior Build-Out Assistance Program — Grant funding from $25,000 to $45,000 to help build o u t interior spaces. A larger amount of fimding is earmarked for full-service restaurants. * Commercial Rent Reimbursement Program — Grant funding from $10,800 to $15,000 to help offset the rent for the critical first year of business. A larger amount of funding is earmarked fbr full-service restaurants. The CRA's Economic Development programs continue to be successful. A total of 21 grant awards were made in 2015. The CRA Board approved $180,934 in funding during the fiscal year with private funds in the amount of $1,111,500 were invested in the CRA district by the business owners. i i I' M Lo i ___ �_ ���� � ,� ���, r �,�,� � � 't ���� `i ti ' � �� r �� �� �� „� �,�� �� �,P'�� '� �� I� ti �� s f , ��� � ^ „'� G � �� ';, � � „ a � ' �� ,� � �. tiv < ?',� � n �' li 0 � I i _ i j u. 3�. �.� R ��{ ),`I r I. � °���' �� ,��; �, `�� a � P4Y i I; ��, 1 �r 1�� _ li, }'1 .. r i e� 4 , 1 5 ' �r. r� I i i r � i low on " a1' �} L __ _. __ _. _ i � �� �� �# �� �� �*„��r�, I �;��, �� �' ��`I �}� �uC� ��,� — �� �' I l� {., i '� �� ,. �� F�, �U << �o' � �� f ii ,. �— - - �E�, ,,� ' . w Y ° � � �rs MS y�. p N �1 �� +C 1 ta �'�� � � ��� �� , ,. �t€ I�� r �� k� , f ,� t�E ,�� ,� . � wi � i ' �, i '�� � i ,' � �` �. J � u,�i I ss i�F ` � � �� iif d {� �� $tip s° } , ti ,r" i x, � ,,,' N , Wi!,�t ie� �}f �G k��, _ €'' E 6 � t� ��1� E t;�Sv , r � 44 r �� � , .�� __ �� � ��.. i '��� tw.f`?�r t i t_ ilk �t 1 Aw if q i> _ < 1�s•,b�.'{� �;f��w22... �S '' art it i i„ , F ff i +s�1 ", f 1 t p tf "ii�fl f) 1 d i + r �fi 1 i S V i s� i ftr � II ,rA MW f< �� ¢t, — r , t �A� 1 f4 i � r i IY 7 q � , ,y C ' a. r 1 � VIC Ara 1E� �o 5 ` L Iu G { y , 1 Yl i i W b Q14. How did you HEAR ABOUT the Boynton each Pirate Fest/Mermaia 5plash? (Please select ALL THAT APPLY THEN TOUCH "CONTINUEL_ Answers Responses Res on dent Percentage Radio 15 3.56 15 3.56 New Ti 6 1.43% Other News a -er 34 8.08% hrou h a local business 15 3 ®3 Word-of-Mouth 99 23.52 Banner/Poster 75 17.81% Returning Visitor 53 12.59% Social is 125 29.69% Other website 35 8.31 Billboard 40 9.50%1 Other 70 16.63% all Respondents: 421.0 otai Responses: 582 ----A-- -- Z- (May add u to more than 100% Also mentioned several times: "Inside the water bffl" Other WMEMN MMENM � � � � I i Billboard Other website Social Media Returning Visitor Banner/ Poster Word-of-Mouth Through a local business � I Other Newspaper _' i f � 1 New Times TV I MW Radio 14 Q 15: Which oft the following activities you to visit Downtown Boynton Beach? (Please select ALL THAT APPLY, THEN TOUCH "CONTINUE") A nswers es onsos 10es Percentag Comm Events/Festivals 307 72-92 The M a i ti Water Activities 2 4.23 " Restaurants/ Bars 193 45.84% Parks/ Recreation 13 1. Sh op i tall 9, 1. Bu siness/ Em ient 37 8.79% O t h er 2 N one 3. °tali es on nts® 2 . °Lotal s orrsos® � a u tc� re than No f Other Business/ Employment MIL Shopping/Retail 6 . i € f ! Parks/ Recreation i Restaurants/ Bars The Ma tin Activities Community Events /Festivals . ,.. �__ -- ... € .._.. .4-- _.. 0% 10 30% 0 50 70 1 RESPONSE TO QUESTION 46 Genera Fund V L CRABO D- 01-51010 ri i r Chan ! / SUMMARY ti 7,500 7, 7. WO ! 0/ 200 CONTRACTUALEXPENSES 21 I ,500 6,500 6, 0 6. 0` poi 225 I 8,7 50 $ 8,750 $ 5,000 '10,750 $ 2,000 23 227 DELIVERY SERVICES $ 400 0 400 $ _ 00� 3 10 OFFICE 0 750 750 $ 250 50 °!c 340 CELLULAR 1,200 1,200 600 1 - 0% Tota - V2 - 4,850$ 24,850 , , 9% , L CORTRACTUALEXPENSES $ 7,500 $ 7,500 $ 7,500 $ 7, M inute s & City s 216 PUBLIC NOTICES $ 6, 6 ,500 $ 6,5 Boa rd eti s & Legal Notices CONFERENCES MEETINGS, 22 5 WORKSHOPS 5, 1 I. 's o C 250 - ' 25 2. F lorida devel a Assoc. ( ) $ 7 , 5,000 $ 7,000 . Training, Workshops Business De v e lopment oar 1,500 $ 1,50 n 1, . FL League of Cities (shared with ) W - 2,000 DEL 3 10 OFFICE SUPPL 340 CELLULAR PHONES 1,200 $ 1,200 $ 6co $ 1, Mot Increase due to addition of FL League of Cities Board participation, formerly in Executive Dept. 1 RESPONSE TO QUESTION 51 G Oe�pm®N w � r NwwwwaNNwKw m � mS °® °S mm° r S S S° ° °$H Si m� pm R Niww o o wr Nr R ► Nm "'�r� ry" n m o n co eri r N N ai c _. wwwwwwwwKwwN w w KwwwNw K w wwwN wNwKK w wwww w a N w Nw N K c g w �iat m N ° n b� ° ° o is ° •� vs 8 .9 lQ vd ° o O OM mw m ln°M H dd • mN t- N y — r osmvi w ey evr N �m m ®� N T r ' p mrcY cm N,- r .- mFiM cw e� r N GI LLI N KNNw wNK N wN N N w w w N w p N N N w ® N p w w w w K N w a 4* w N wwN w K N N W w w N K O O .} _ ®� ►` cq wm oc� n r roMmed u� ° qra mm mm ° g m N rdm�' MNNr cwc� P. r can M mrN NNw r r err • r N r caNrN o � N w wwNwwKwNwwww N Le w wwwwww N w wwNw wKwaNwwww w wwww N w K w ww N N r C ®N ° wm °o,Mrm roMwm ga m ° o oo ° _M�� ® N n us m Mmei mcv rir N �r 'm r c"�m Na" wrni rV N' r r sett nl N r °�ar`'�w wwwNwKww Nww to do wil K NNwwNw w w wwwN wKwwNwwwN w w ww w N wwww w w ®E ® N " S o_ _ r a r w r z C v ®u m a C w m F* cnm ro m�pmw g �Q w p J a b z C �a m ' u w Lo m im 8n m'" w wmm r u, 4e a m w p o wU� bZ ° u C w r E wmd CAS e �aaS'�5 p D 5 c E —E C am m y Wan a ®� g` r m° w � $ V ° nC ez Ea a �w'E-m °a p y w J o ® adni a ®m w m� �g a�c� Eu W'•t a a ®om� in 8 v$ a w w E c w •uEm ti m -a n Fca- n a g o m a c � WWww csm ` _ $ wpm ®' ww u3 aCa� w �s w x F �imS uF3 5e a— a f' + p w LL o V g es m Z'f a s a r E a V LLV �� ouOaVr Ym mm�aemg p J= w o� u b oo w w u� a9r�cLp cs z a u mazu o aau.u. O n u a•�mo w �m m u @ b N r� NNwNwwwwNwNN a w, n S ®r R ® o®oo ®ob@ ®® @ o a e@ o m qm �r ne53® - 8 4 ; a� ��r o NNwNNNNNw N NwwwNNNw N N N wwNw N NN N N N w w N N N N® m w m µy ® @ p 8 p@ O o a coca p am @ o p b Q m w �iS1a9F1F�cy��, q r ran, , q m c > w w w N w N w w N w N w N N w w w w w w w N N w w N N w w w w w w N N N N w w w w s 0 9 ®p o o Nb�y p q p O p O p w O ®pp ® O p O 0� N wm pM(ryry pOp 1pry O p O O p S ry p ® O pO ® O p O p @ p O p p n 9C N o r m Y3 W h T F f9 ' N •f� R W rr 01 4 b a o o O ni iV T p O• P m MM N R8 O T 0= r •g� M N m b p' r T H M N m ° N N M M N r , N w w ry N p N N N Cp w N ® N p N w N M N N N w N N w N N N N w w N N w N N N N N N N w N N NOrOM1 MION P® Ft�°! ° '�G ~pfir rplq N ® d 00 ® 0 Ol O C 7 r W M N r A N O� ® m w N N N N w w N N w w w N N N w w w N w w N N M W .11 w N M w w N N N w N N N N N N v F b v w m LD w m rn J m+ m W w Z u w H a w w F w W ° ® N w EL w d. c O Udyw Q O F e w U N w® c 40 IL U N - mud a — ut7 m. m f' m = °'c v ac m w e C3 IL n O 7 z u ® w m S S w Z y V l9 ffi o c m z wzm o a my F m 9 x C x w w d n z rz a z N -0dw o u w w n® d w w w'�Nw = E �� a m a w .d a w m U -9 W O Oww O wn �O c c , I U O O e ®3 w n.0 ca n OUmmOw EK '7 M csw m U �m taw a U� o W m O w a m b ® g °nb c ®p ryry ry �pp ��pp pp N N N W NNE PiM M m N M & N N N o N I.1 NI Y 1 C7 M��oN® ®doom v g* ge gee ore C �I�p9 . F c 0 ' MM 'tee ovspod mr ado dad °o o ® ® ® ® o d N O W m 99 8 lq Ili 117 W A M I W tl I[1 m M w° mnM r Nrr rvr r n ° o N !AJ< fASs " 0 M N m N iR N N' N W N YY M Y! q 40 ff} W N N W N M N N A* C p O d O p O p O m Q p h T N G LO W yy h N O N o O O G p O q O O 4 p 6 p O O O O p d p O c m M N IIII O6 Ifi M KY M 4f h [R go to _ M O W 8 Ni N YY R 1[7 a I M Ili `• M M lfy M m ° F" s� � r s�N r` r p' r r C M M O M M M M M M M M N M w M M M M G O r W OOOdd d0 0 W O Mg N�ryy W d® W Ob 9 d O O ® � p 451. W' M O V O N a Od O o O o d O R Ln M O 1�7 �1 A L Oi M YS e� ®T N r �r 1y �4 C LL 4W w r 64 w M M N 40 W40 M M M q N W p N b p ppW O ® O O O d m p �M O M M W W mo mm. 8 O b O ¢p4 p O p p ® p p y C® m f7 N IO ' M M O O @ O O H m ® ® P07 7 N r Q" M W Mm L. 8 W h M N r r r r r p r j m O ® r M M M M N G& M M M h W M C 0 F w 0 _ m CLL a m w b V o° r E ° ®m Ro E LU c E r m W y Z' .6 + ® w m m }'m z h m ® U a F � d Z v W m W w Q O w W 3 ® v e c o O O ~ �voz� ® ~ ® Z w g® m o JU ax3Jx m u € mm ® ® 5; ®..° w w - z 0 z i w a n. � w E w E V m g c o u�i j m �r a s z w E w m > ®O 6. d °- D O .. w Lp z J ® x •° m W E m 0. a H x us a c c m u w v Q am a K CL a w pww Lu =vow ® c m m E w L aka cc J .o a ti vi'i'w52 — c h+ ®w a,a w �m w ' vi w C W W O O LL m m m V O O m •® D W 9 J Ld LL J M U. u• aLJ OUOUNJm0 26yJ U� � W D U m LL O U tL O c CL m m s ® ea •c j ? O of w o u7 ug °. d W c �Iyy7� app m " N cn M M M r O M N N R1 1`7 M M V C c Nr� wNNwNNwNNwgN a o p up Fr r T mm � ?� ,�► "� � �"�"� J. N N N w N N w N N q N MWW40 w M w K q N w N N N K N w q w N pStu q N w$ 55 as qJ��$ V °° 1�r e g 11i F g _ 4 a O d6X °° 6 � b Yi N N Y r Tb r r m t+e N 00 0 •'ri "�L p b' r r r T IY N �' ® 9i vl ® r T e 3 LL• NNNNw gKNNNNN N N MwN NNw N M N NMN N NwN qNN K N N q M N NN M N w �® A ® ® O pN gqy] ® O6O ® O ® • ® e(r� pT w {ryy b qN O pbO O (pOy Q O N8 Co 0 O O p O O p O pO 1 pOy p �1Q� ® �� N y R • ° •� M P e • Y8 m O H O PIM ®V Vi E b N6 wNw NM MMMNNNN N N NNN ® Nww q w N wNN NM, NMN w M N g N q MN M N o 'ffi ..m�8YI ` � W � YES ® QN p y' °• e e A Altl F e e O K& a O� O ' � r b m 9 N N w N M N N M N w N w N w w N N w K N N N M N w w N N M w M w N N N K N N N N M N am 0 C E D L CL - _ 8 ~ LD u v ® c ® r 8 c 8 wm N a � v �g o b g 0 o w V m �a h u W� wo o= "'' W° w z= awl z z °u � �? 5 zlu w nS w Q® z i3u m °us R ® ° z wQ o ® "ozJa�' e ® m r ' b8 o a m w c y' J °o° s d=°a a v m m wu cm ° Ja J° z E$ W_° W a a° m � ° a_ ® r3 a x ° a a m z = � z x W m W O � z a9 x z a s W a s �' cti o WW WSW �w� cc =X 3� W Rya ° z x IL s�z ~ u J�mY 8 ®€� �' z 5 ;LLB m m e W w= mm s LL Z W oW Woo wR y ®- $® Wa�� a E =a a of v ava ®uqm W a� � 0 s� a® �_ a v a o v W4�� ®. c A m L I "' ° ® C ;:®"s U N A841 Masse as go 2 a , i A C } 0 {� ..� lM w YF W Ip q N w W q tli W MY w i/f Ep q dq w ep r6 do- eq W b 1p aA a9 to 1 p {s py p p p p p ypT� Q �p A C 1[]i h N 0 vi ° e y eF 6 O ti Yi Y�'i O 1 V' O W s Ill � (� � ;p J Eus �� ® ai o eiv w1r "�. " a m 'do r r r n ww wwww�w w r wwtoegwq w to waa 49 49 as w b w W O c+s O 0 °a O eo ® vs °o m® O° O ° wl r. l` ly N m r � rr Y E �ww65 awfir* a T w4* ywf* ti wmwm go CD to cm a Noun �3n ® °° ® �. Nw r ft wmwwwWww 49 4 r ww all r,fa w w ww ww #0 w w w to m EC W m a m � O v c x a w vc a m Y c d F O� CA Ix u ® w ' $ ® a c 100 ® a d a vw ®oZO ®� a m c ® w w� Z ® �C '� a o°� w z m v n m F W c 5 ._ c go r® o -i m d y J w C =- 4aa6a� aS3 r o �� 2: >U a a o CO z�aWaw�a�ma ° w� pp �'Cm u w � a a 4 O w w w C C x J m W c LL w � mY - ®�_�+ LL ® ww� q w� w v 7 wo uw =oLL aIN ; v ° o p.$s�"'_`o w m9 LL s o ° S a acscidcsv,md aw x® aJ eia esa as o v w s c m� Li m m M A o V M a= i RESPONSE TO QUESTION 56 Gene Fund PROFESS - 01-51420 FY 2014-2015 FY 2015 -2016 Original ended Year End a Chan a Incrl( r) S Y ° uget Bu Estimate ud Amount 200 CONTRACTURAL. SERVICES $ 147,000 $ 147,000 $117,000 $ 147,000 - 0% 201 LEGAL SERVICES $ 100,000 $ 100,000 $ 100,000 $ 100,000 $ - 0% OTHER PROFESSIONAL FEES 15,000 $ 15,000 $ 15,000 $ 15,000 $ - 0% Total $ 2,000 $ HS 000 $ 232,000 $ 2 0 $ - 0% UET W AIL 200 CONTRACTUAL SERVICES $147,000 147,000 117,000 $ 147,000 fiandit Services $ 18,500 $ 18,500 $ 18,500 $ 18,500 Marina Audit & Tax Compliance $ 15,000 $ 15,000 $ 10,000 15,000 Bond Indenture Compliance & Bond Continuing $ 20,000 20,000 5,000 20,000 Disclosure Dissemination Services Financial Services 30,000 30,000 $ 30,000 30,000 Website Hosting & Related Services 15 $ 15,000 $ 15,000 15,000 Website Design & Maintenance $ 15,000 $ 15,000 $ 15,000 15,000 Personnel Services $ 20,000 $ 20,000 $ 20,000 30,000 Economic D lop ent Financial Assessment $ 3,500 $ 3,500 $ 3,500 $ 3,500 Record Retention /Document Management $ 10,000 $ 10,000 - $ 201 LEGAL SERVICES $100,000 $ 100,000 $100,000 $ 100,000 204 OTHER PROFESSIONAL FEES 15,000 $ 15,000 15,000 $ 15,000 Fire Inse ions 5 $ 500 500 500 City HR/Payroll/Benefits ILA 14,500 $ 14,500 $ 14,500 $ 14,500 N ote s : No changes in this budget for FY15 -16 19 RESPONSETO QUESTION 57 2 RESOLUTION NO. R10- 3 4 5 A RESOLUTION OF THE CITY COMMISSION OF 6 BOYNTON BEACH, FLORIDA, APPROVING THE 7 INTERLOCAL AGREEMENT BETWEEN THE CITY OF 8 BOYNTON BEACH AND THE BOYNT BEACH 9 COMMUNITY REDEVELOPMENT AGENCY TO 10 PROVIDE HUMAN RESOURCES RELATED SERVICES I1 TO THE CRA; AND PROVIDING AN EFFECTIVE 12i DATE. 131 14 15 WHEREAS, the Interlocal Agreement permits the Boynton Beach Community 16 Redevelopment Agency (CRA) to utilize the City's Human Resource services including 17 participation in the annual enrollment for medical and related insurance policies, participating 18 in New Hire Orientation for benefits, assistance with recruitment, records management, access 19 to City Human Resources staff for Human Resources questions as well as payroll services; 2C and 21 WHEREAS, the City Commission of the City of Boynton Beach, upon 22 recommendation of staff, deems it to be in the best interests of the residents and citizens oft 23 City of Boynton each to approve the Inlerlocal Agreement between the City of Boynton 24 Beach and Boynton Beach Community Redevelopment Agency permitting the CRA to utilize 25 the City's Human Resources Department for Human Resource related services and payroll 26 services. 2 , THEREFORE, HE IT RESOLVED BY THE CITY COMMISSION OF 2s THE CITY OF BOYNTON BEACH, FLORIDA, THAT, 29 Section 1, Each Whereas clause set forth above is true and correct and 3C incorporated herein by this reference. 5 WA%RESOILAgmmentoReso - ILA with CRA (HR 5erylves)(2010) doc I section 2, Ile City Commission of the City of Boynton Beach, Florida does 2 hereby approve the Agreement between the City of Boynton Beach and the Boynton Beach 3 Community Redevelopment Agency permitting the Boynton each Community 4 Redevelopment Agency to utilize the City's Human Resources department for Human 5 Resource related services and payroll services, a copy of said Agreement is attached hereto as 61 Exhibit "A". 7 Section 3. That this Resolution shall become effective immediately upon passage, 8 PASSED AND ADOPTED this 17 day of August, 201 9 10 CITE' F BOYNTON BEACH, FLORIDA 12 13 Ma or — Jon Ro ez 14 15 ze�� 16 i V ay r ariene Ross 17 18 19 ornmiss er — William Orlove 20 2 22 Comm r -- Wo 23 24 25 CommissionW— E4ev 26 ATTEST 27 29 29 Pr 30 , J t M. Painito, MMC 31 1hy 32 1 14 35 e Sell I 3 3 S %CA%RFSMAgra ementAlleso - ILA with CRA (HR Strveoes! 20 I 0),doc INTERLOCAL AGREEMENT BETWEEN THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY AND THE CITY OF BOYNTON BEACH FOR HUMAN RESOURCE SERVICES THIS AGREEMENT is made and entered into this _154ay of 2010, by and between the. BOYNTON BEACH COMMUNITY PEVFL0 AGENCY ("CRA") and the CITY OF BOYNTON BEACH ("CITY") (collectively referred to as "the parties "). WITNESSETH WHEREAS, the CRA is a public Agency created pursuant to Florida Statutes Chapter 163, Part III and has as its purpose the redevelopment of portions of the City of Boynton Beach located within its geographically designated redevelopment am; and WHEREAS, the City is a Florida municipal corporation; and WHEREAS, the parties hereto desire to enter into an Interlocal Agreement in order for the CITY to provide Human Resource Services to the CRA. NOW THEREFORE, in consideration of the mutual covenants and promises herein contained the parties hereby agree as fellows: I - Term. The term of this Agreement shall be on a fiscal year basis commencing on October 1, 2010 and ending an September 30, 2011, with automatic renewals each year unless otherwise terminated in writing by the parties at least 30 days before the termination date. 2, amme (a) Benefits: (1) Utilize the existing City benefit plans and access to the Benefits Administrator for questions. (2) CRA share of benefit consultant, Willis of FL (b) Services (including but not limited to): (1) Human Resources Administration including internal consulting and access to staff for personnel related questions by e-mail, phone, or scheduled appointment for day to day H.R. related questions; (2) Recruitment including posting vacancies on the City's web site, advertising, applicant tracking, clerical testing, screening, of applicants, participation in the interview process, assistance with scoring candidates, background checks, scheduling pre-employment physicals (cost charged by vendor for advertising, background check and physicals to be paid by CRA); (3) New Hire orientation including assistance with payroll related paperwork, acknowledgement of receipt of policies, Workers Compensation presentation, a benefits overview and assistance with the completion of enrollment paperwork etc.; (4) Benefits including participation in City's health plans, the annual open enrollment, wellness initiative programs, attendance ' at City's wellness fairs, Coin mit2bFit presentations etc. (5) Organizational development/training, access to City-based training programs for CRA staff (a $50 fee per class will be charged, which is also charged to the departments for City employees who attend the classes); (6) Document imaging, records management of employee personnel files and responding to personnel related records requests, employment verifications; (7) Position control maintenance. (c) Payroll and Leave Time Management: (1) Initial Setup in 11 T E for CRA: (Setup pay codes, tables, accrual rates, direct deposit info, bank info, etc.) (2) Monthly Costs-processing payroll for 9 employees: (IRS tax payments, quarterly 941 RepoM Yearly W-2 processing) This assumes that the City will not need to have any programming done to the existing payroll system, if so there may be additional charge. This also assumes that all CRA employees are on direct deposit and will receive their direct deposit paystubs by "online paystub service", as the City is in transition as to have employees receive their direct deposit form online versus paper copy, 2 E� Resources doc 3. Cost. The CRA agrees that it will pay T E N T HOUSAND ONE HUNDRED SEVENTY-FIVE DOLLARS AND 60/100 ($10,175.60) as follows: * Services outlined in #2(a): $ 1,965.60 * Services in #2(b) (including personnel file management): up a) Setup/Prep of Personnel Files (one time charge) $ 250,00 W b) Monthly charge $500/month x 12= $6,000,00 * Payroll services outlined in #2(c) (payroll & leave management): * a) Setup of records (one time charge) $ 280.00 * b) Monthly charge $140 x 12 1 0.00 Estimated Total: 510,175-60 4. Office Location. The City's Human Resources Department is located at City of Boynton each City Hall 100 E Boynton each Blvd. Boynton Beach, FL 33425 (561) 742-6275 5, Thep is hereto agree that the conduct of the affairs of the an Resources Department shall be in accordance with Chapter 6,011, Florida Statutes, governing the Sunshine Law and that the records of the Human Resources Department shall be deemed Public Records pursuant to Chapter 119, Florida Statutes, and administered accordingly. 6. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. 7. Severabili . If any provision oft is Agreement or application thereof to any person or situation shall to any extent be held invalid or unenforceable, the remainder of this Agreement, and the application of such provisions to persons or situations other than those as to which it shall have been held invalid or unenforceable shall not be affected thereby, and shall continue in full force and effect, and be enforced to the fullest extent permitted by law. 3 E':t Datak979tems\gOU217�932®CRA ILA.12010)(080310)KB doe 8. Entire Agreement. This Agreement constitutes the entire understanding of the parties and any previous agreements, whether written or oral, are hereby superseded by this Agreement. This Agreement may be modified in accordance with Paragraph I I below. 9, Modification qLAgreement, This Agreement may be modified upon mutual consent of the pailies only in writing. 10, Bindilin Authorily. Each person signing this Agreement on behalf of either party individually w=ants that he or she has full legal power to execute this Agreement on behalf of the party for who he or she is signing, and to bind and obligate such party with respect to all provisions contained in this Agreement, 11. is e. In the event of any dispute arising among the parties with respect to the interpretation of the respective rights or obligations provided for by this Agreement, the same shall be resolved by mediation with such mediation to be conducted between the City Attorney and the CRA Attorney. If mediation is unsuccessK any and all legal actions necessary to enforce this Agreement will be conducted in Palm Beach County, Florida, No remedy herein conferred upon my party is intended to be exclusive of any other remedy, and each and every such remedy given hereunder or now or hereafter existing at law or in equity or by statute or otherwise. No single or partial exercise by any party of any right, power or remedy hereunder shall preclude any other or further exercise thereof. 12, Interpretation. This Agreement shall not be construed more strictly against one party than against the other merely by virtue of the fact that it may have been prepared by counsel of on of the parties. 13. Notices. Any and all notices required or permitted to be delivered pursuant to the terms of this Agreement shall be effective upon receipt, but in any event no later than three (3) business days after posting by U.S. Mail, certified or registered, postage prepaid or one (1) business day after deliver to an expedited courier service such as Federal Express to the addresses listed below. Any of the parties described herein may change their address by giving notice to all other parties set forth in this subsection, If the CITY. City of Boynton each 100 East Boynton each Boulevard Boynton Beach, Florida 33425 AtIn.: Kurt Bressner, City Manager With Copy to, James A, Cherof, City Attorney 3099 East Commercial Boulevard Suite 200 Fort Lauderdale, Florida 33308 4 EMaini9AIteins�90 1217S9321CRA Rcsources 0)(DS03 I O)X B. doe If the CRA: Boynton Beach Community Redevelopment Agency 915 S. Federal Highway Boynton Beach, Florida 33435 Attn.: Lisa A. Bright, Executive Director With Copy to: James A. Cherof, Board Attomey 3099 East Commercial Boulevard. Suite 200 Fort Lauderdale, FL 33308 14, Effective Date. This Agreement shall become effective on the date last signed by the parties. COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BOYNTON BEACH Bv: Chairman Attested by d a b Brigght, ExecutW'4irector CITY OF BOYNT7 BEACH By: mayor Date: Attested by: R City Manager APPROV ED dVr FORM: Jaynes h ero ire ES 5 P;kDMak!)7%lteme�9Okl2l7k9321CRA Humeto Resources ILA (2010)(0803; 0)KBA3c RESPONSE TO QUESTION 58 ' COMMMCIAL LEASE This Lease Agreement is into of this of September 2010, by and betwam 710 Boynton Partners, a Florida limited liability , located at 105 FAw Palmeft Park Road, Boca Raton, Florida Redevelopment Conmiunity located at 710 North Federal Higbway, Boynton Beach, Florida 33435, y offers to lease situated pmmises City of Boynton Beach, Florida, County of Pahn Beacb, of described as 710 North Federal Hijftmy, Boynton Bearlh Florida, 33435, together improvements and Wurtenances located thcreabout, thCMDn or . I . DEMISE LESSOR, ibr and in `on of the rents hereinafter resmwA and the terms, cmditions, covenants this Lease, hereby leases hereby and the LESSEE j e term and conditions contained in this Lam the Premises, together with any and all rights, privileges, and easernents bewfidn& belonging or pertaining thercto. 2. TERM The Term of .s (1 0) years. 3. LEASE COMMENCEMENT DATE 11m term of this Lease shall commence upon the Weetive Date ( )• payment 4. RENT The of rent shall commence upon the date of completion of the building renovations, o "A" • 't "B", and the ismmw of a Certificate of a City of shall provide completion LESSEE as to the v o ismumce of f Occupancy. Rog WWI commence on of the month following this notice. LESSEE agrees to y to LESSOR the Base 1 e ) and applicable 1 be as set forth below for 'd Premises, without offset or deductions, and without previous for, said t payable monthly on the first day of each on : I' Year of 4, t plus 1,65 . Expenses (vW estate tax, maintenance and insurance) which are subject = $6,266.88 plus es tax, if applicable. 2 Year of Lease T erm: $4,792.32 per month base rent plus 1,5. Expenses (real estate tm maintmnce and insurance) which are subject to change = $6,451.20 sales plus , if 1. 3` Year of Unse Term: $4,984.01 per month base rent plus $1,658.98 ONDowman and 5&Wng5Xbro0ksWV=1 Seftings\Tempawy Intemek 1H1W%QU11\7W cra lem FI Ltlean. of Expenses (red estate tax, maintmance and inmawce) which are subject to change = $6,64189 plus sales tax, If appHeable.- 4' Year of Lease Term. $5,185.37 per month base tent plus $1,658.88 estimated E-Venses (real estate tm maintenance and insurance) which are, subject to change — $6,942.25 plus Wes tax, if applicable. 5 Year of Lem Term- $1,390.71 per month best rent plus $1,658.98 estimated Expenses .(real estate tax, maintez and insurance) which are subject to chapp = $7,049.59 plus sales tax, if applicable. e Yew of Low Term- $5,606.34 per month bme rent plus $1,658.88 estimated Ekpenses (real estate ba. maintenance and insurance) wbich are subject to change = $7,265.22 plus salm tax, if applicable. / Year of Lease Tam: $5,830.59 per month baqe rent plus $1,658M esfimated. Expenses (real estate tax, maintenance mid inswance which is subod to change) = $7.489.47 plus sales tax, if applicable. r Yeu of Lease Term $6,06.3.81 per month base rat plus $1,658.88 estimated Expenses (real estate tax, maintenance and insurance) which we subject to change = $7.72' 2 plus sales tax, if applicable. 9 Year of Lease Ter= $6,306.37 per month base rent plus $1,658.88 estimated Papenses (real estate tax, maintenance and imurance) which are subject to change = $7,965. plus sales tax, if applicable, 10 Year of Lease Term, $6 ' 558.42 per month base rent plus $1,659,88 e9finiated Expenses (real estate tax, maintenance and insurance) which am subject to change = $B plus Wes tax,, if applicable. All Row (defined as Ban Rent as ad forth above plus Expenwi as defined below) required wuler " Emse shall be paid by antomadc monthly bank trandw to LESSOM bank account- If any payment of Rent is not: =mved by ffie LESSOR within seven (7) days of its due dar, LESSFY3 shall pay to LESSOR a late fee equal to Bve percent (5%) of the outstanding balance due ® The late paymento "I be paid fbr each renW payment not received by the LESSORwithin ten (10) days of its due datc, 5. � AND REGULATIONS LESSEE, at Its own cost and expense, shall properly obscrvc and comply with all present and future laws. ordinances, code& requirements, orders, directive% rules and regulations of all governmental authorities affwtng the LFSSPHs im of the Premises, including but not limited to making non-stmetural modifications to the Premises to comply with my state or fed" laws or regulations affecting the accessibility of the Pmmises for disabled persom. LESSEE shall also comply with any and all reasonable rules and regulations imposed by LESSOR. QkD=ments and SeMnV\br*aksYALml SMopkTemperwy Inimmet Fflss%0LK21X7,W cm law FiNk Own dot 6. RISK OF LOSS i r moved into 1 be at the risk of LESSEE or of the owter of such q an LESSOR s h a ll not b liable f or any damage to said personal ar . T S g bu r t any other whomsoever pipes, or fiorn any act of negligence of any LESSEE or occupants of the person I is 4ur b water which may b susvAwd b LESSEE or other penon.. or for any dhof damage or injur resulting ftom the carel essness, whomsoever, or by reason of the . , leakage r °' pipes, 7. IEM= Upon t vdth LESSOR Six Thousand Two Hundred and sixV °. 88/101 Doll= ($6,266.8,9) rqmenting a security deposit that LESSOR is to mWn as security for the fniffiful pefformatice ofall the tums and conditions of this Lease, LESSOR shall t qt or other charges in arrears or in damages for failure to conditions Application t payments or the sole option of the LESSOR, and the righ to r non-payment of Ren or for any other r eason deposit The security depo t per iod for a or, If t been timaly mouth, - when this Lease is - if not othervi LESSEE applied by remn of any breach of the terms and conditions of this I== by LE SSEE- expressly it to Rent. In no event is t to be rctumed until LESSEE has vacated the Prormses and del ivemd possession to the LESSOR. In the event the LESSOR repossesses t Pmmises because of the dchult of the LESSEE or because of the failure by the LESSEE to carry out the terms and conditiow of this Lease, LESSOR way apply the security drposit to all demages suzTered as of the day of repossession and may , retain the balance of t he seourit�� deposit to apply to damages that may accrue or be suffered thereafter by reason of a obligated .t defaul or breach of the shal LESSEE. LESSOR depos with other funds of the LESSOX and LESSOR shall not be i nterest may mix the security obligaed to pay rental acknowledges LESSOR also t in t of Six Thousand Two Hundred and sixty sik and MI 00 Dollars (S-6 ). . LESSEE'S TAXES AND =., i the Tem of this LESSEE shall pay. beftv the sow shall becotne delinquent, personal property tam. sales delinquent, tans, and such'odwr taxes. if applicable, as may be payable by reason of opeation of LESSEEVs busim=. During - the Texm of this Lease, LESSEE 60 pay, before the same shall become all charges for utilities and sitnilar servioes for the occupants thereof. LESSOR and LESSEE shall vAxk cooperatively to seek reducticm or mxnption of twies applicable or pemzW. property, when such reduction is the LESSOR or LESSEE to be in the public intmest. LESSEE shall pay, as additional Rent and with the monthly Base Rent r_Vocu ind SaWngAtwoolmnUml Setfirak Immet 1 1 1M AMIA720 4ra Ispse at payments, all wqmmes listed Wow, 'M animal estimated Expenses Wall be calculated by LESSOR and paid by LESSEE on a monddy basis (one-twelfth per month). Expenses shall include, but we not Harked tD; LESS OR's cost of operating the Property, incluft but not limited to, operating, mansgiM equippiu& pofiche proucft li&ft trash remayak landscaping, all ficenses, fees, permits, repairs, and replacemerIts necessary to maintain the Property in 1ha same condition a when denused to LESSEE ti agreed by do Parties that LESSEE shall be responsible for all applicable Real Estate Taxcs� regular or speciaL for the end= pared of Property located at 710 North Federal llighway, Boynton Beacl% Florida 33435. Real c*ift twos "I be paid to LESSOR on a monthly basis with the rent in an amount equal to i 111 of the estimated annual real estate property tax Any deficency in the monthly amount paid for real estate taxes shall be paid in M upon reoeipt of the current year's tax hill. LESSEE is responsible, for maintenance, except at M forth in Paragraph 14, of the property including but not limited to, operating, managing, equi i pmg, policing, protecting, lighting, trash removal, landscaping, all 1 kes, pmmits, repairs, and replacements necessary to maintain the Property in the sarne condition w when demised to LESSEE. LESSOR will provi4e LESSEE with a schedule of Expenses with supporting documentatkon on an annual basis and Expenses and monthly vental will be adjusted accordingly- 10. M 2EI"_MISES The Premises shall be used to house the adminishudve offica of the Boynton Beach Community Redevelopment Agency and for no other purposes Whatsoever LESSEE shall be peroutted to utilize the parking lot for outdoor searing or events as per City Ordinance. The Premises shall be at all thna properly licensed and operated as M forth above. LESSEE recogniws that it is important to LESSOR to keep the use of the suWect Premises as set farth herein, accordingly, any change or terminatkm of the use of the Premises shall be considered a dafkilt under the Lowe and LESSOR a be entitled to all remedies as provided fm herein. LESSEE acknowledges thxt LESSOR has made no representation to LESSEE as to LESSEE's use of the Promisas and LES SEE confirms and wknowledges, That LESSEE has made its own firAmUgatiou votwormag 1MRSERs use of do Premises. LESSEE " not use or occupy, nor permit or affer the Premises, the Property, or any pan thereof to be used or occupied for any unlawful at Illegal business, use or purpose, r' any way in violation of any present or fixtum governmental laws, onfinances, requirements, orders, dh=tives, rules or roguhttiow. 11. ESS TO THE PREMSES During all reasonable hours, LESSOR or LESSOR!s agents shall have the right, but not the obligafim to enta upm the Premises to mIamine same, to exhibit the Premises to prospective lesseas and during the lam ISO days of the tam of this Lem or any renews! thereof, to exhibit the Premises to prospective lessees, and to make such repairs as nay be required of the LESSOR under the terms of this Lem, LESSOR agrees not to unreasonably imerfere. with the operation of LESSEVs busincto. LESSOR shall have the Agm to post a"ForRmV mgn the rnwmmun size of 4' X 5 " which will be displayed on the store front C;%Dmmmnb and Internet N6 es%=11 7 10 cra least MAL depndoc window during the last one hmx1red eighty (1 80) days of the tam of the Lease or any renewal IM 12. RENOVATIONS and RUAM LESSOR shall use its Clencral Cketractor to complete the wnwations and repairs set forth in Exhibit W' and Exhibit " attac hercio LESSOR " be r=ponsiWe for die payment of all costs associated wth the cmupiction of die renoryntions and repairs set forth in ExlAbit W. LESSEE shaU be responsible for the paymmt of 811 MIS amdated with completion of the renovations set forth in Exhibit I S", Within 30 days ofthe execution of dds Lease Agreement, LESSEE skfl provide sealed architectural plane ready fW permitting for the interior build-= set fWth in Exhibit - W to LESSOR. Upon subraiwion of a payment requisition by Lessoes General Contractrit, LESSEE shalL within 15 days thereafter, rem payment to LESSORs General Cooftctor fDr an amount sufficient to cover the costs of aid renovations. 13. AL��T�101ffi- BY LB&SM LESSEE may insull at its expense such teraint improvenients, fixturos and finishes in the premises, beyond these contemplated in Fmbibit "A" and 1 `13 that LESSEE deems necessary and desirable, subjed to applicable codes and regulations. However, LESSEE shall not, without first obtaining the written consent of LESSOR, make any Alterations, additions or improvements m, to or about the lemed lifenuses. LESSORs consent: "I not be unreasonably withheld. All work performed on the leased prozoism shall be done ly by LESSOR's General Contrmtor. All renovation workshall be proper permitted with the City of Boynton Beach and shall comply vdth all City, County, State and Federal governmental laws, ordinances, requirements, orders, directives, rules or regulations. K REPAIRS LESSOR shall perfom necessary repaus to the roof and exterior structure of die leaW. premises. The LESSOR shall have no hability for Ulm to parform, this obligation to Mair imless the LESSEE shall have first given the LESSOR wftw notice of the need for such repairs and a reasonable amount of tone to conduct such rqmirs. LESSOR sled! pez1brin, necessary repairs to the HVAC system, electrical and plumbing, owept repairs relating In die interior RMM Upon LESSEE taldul; possession and completion of the iinpiovements set forth on ExIn , LESSEE adimowledges thd tha i both interior and exterior, am in good condition and that oil fkum equipment and appurtceances am in good working order and agrees to maintain the m1anor and exterior Premises in the some condition. order and repair as they = at the cannicnecincat of this Ixase, and agrem to maintain and make all repain and replacements in and about the interior Premins nevemiary to pmserve them in good order and conditloti, wbich maintananc4 repius and replacementi; made by LESSE E BW be perfmmed by licensed ad hisured wraimon in equal quality and class to the o4ginal, work. LESM shall piamptly pay the expense of any such maintmance and repairs or replacemouL LESSEE ferdacr agrees to repair, replace and maintain in good and safe condition the electrical, wiring, plainbing and headWair-coudiftorung equipment and any other equipinent upon the demised prormses and shall surrender the same, at torognation hereof. in good condition, normal w= and tear excepted. In the event LESSEE fails to maintain andfor repair the demised promises, as required herein, LESSOR may conduct such maintenance and/or repair as it deem appropriate and QWmmem and SeftWVx9o"Local 5MWhV\TeMPDM1V 1nUrn*tF11DsX0LK11\710 up lame RNAL &An.doc recover such costs fiom LESSEE within ten (1) days of presenting . -such repair and/or maintenance com. 5. IN RANCE Without waiving to Section 768.2& obtain, at liability insurance, sahafhotory to LESSOR, issued or endorsed to insure the LESSOR and any morWIgees from and against any and l olaims, suits, actions, action damages and/or ca=a of ®P injury, personal loss f T damage to property sustained in and about the Premise& of or as a result g and from and against any order, judgment and/or decrees which may be entered thercozi and from and against all ® fees, about expenses and liabilities incurred m and the defense of any such claim investigation thereot for an amount not,less. than O ne ¢ ( liability and for an amount not less than Fifty 11ousand (S50,00Q) fbr property damage. Such 9 LESSOR's and appear, my mortgageeg interests may The insurance policy ti c company satisfiztory to In addition, LESSEE shall obtain, at LESSEE's expense, fire and extended insurance fixtures, coverage in amounts acceptable to LESSOR covering all equipmera, 4 v shall goods located in or on the Premises, The LESSEE deliver to. the LESSOR these insur-drice policies certificates thereof immediately t of the Leam and anmidily thereaf ter, upon renewal of the policies, LE. SSOR and any mortgagees flmt the wverage aMrded by policies the is 1 immediately been paid by the LESSEE. LESSEE " also `v of termination of m ce coverep. LESSEE shall s to day's thirty . shall LESSOR obtaK at LESSEE's expease, casualty and liabil insuranc in mounts sadshctozy to LESSOX including coverage for ft wind, flood and extended covaep to cum the cost of' i or repw 1 16. SIMORDIN now oncumben or affacts the Property or that the LESSOR or any subwquent owners of the including Propmty, may hereafter at any time a1w to place on the Premises, l limited purchase money morVW which may be held by LESSOR as. a seller, and to all advams. extensions, or modif ications already made or that may be hereafter made on account of any such principal mortgage, to the full extW of the Furthmmore, LESSEE sh4 upon request, execute may dmn necessary to li ' l p Lease, in default of which LESSOR is y-i w ' ft name of LESSEE and as the paper or papers in t and deed of LESSEE, and this ®y is hereby declared to be coupled with an interest and . SawngsWemparary Inwnw rar-ACU-ilvic cra e FINAL deanAoc & A 1 or otherwise transfer any i n tins Lease, without the prior written consent Of the LESSOR, Vdarh. consent I rat be unreasonably wifte No consent to an assigninen or sublease shall release LESSEE from any obl4ptions under th i s LESSER shall t sublet portions of the Premises withoid LHSSOR!9 prior written comet, which sW t be mireasonably widdield. If a sublease is permitted by LESSOR, LESSEE &grew to Runish LESSOR with a pboketatic copy of cachnublease made for space in the Prenzises. LESSEE shall not hypothecate, transft pledge or otherwise encumber this Leascor LESSEM right hereunder nor shall LESSEE �t any such encumbrance Any attempt at assignment. Mblemr, pledge, transfer or encumbrance of this lzan without the prior vaitten consent of LESSOR shall be rudl and voK and a deAult under this Imm, LESSIM shall and does hereby i nderenify and agme to hold LESSOR hanniess from any and 1 liabilities, claims, and causes of action arising under any terms and conditions of this sublease Locase and every license or concession agreement unless such liabilities, claims and ar Cmises of action I negl igent conduct o r adMty of LESSOR its agents or employeas, under this Lease. shal If all or any part of Me Premises be sub b y LESSER, LESSOR may, after default by anyone other than LE SSEE, all or occupants, and apply the net amount collected to the net annual t b ut no collection such y term� covenant or condition of this Lease or the acceptance by LESSOR of any sub-lessee or occupiurt as LESSEE, or a release of LESSEE from perfintrtimce by LESSEE i To secure the prompt and full payment by LESSEE ofAll Rau reserved in this Lem and Ik faMM plerib=wnce by LESSEE of all the other tanns and conditions herein contained an its assigns part to be kept and perfarnwd� LESSEE hereby profi s6bject to the conditions hereinafter set forth, all of LESSWs d9I 9, tide and interest in and to WJ subleases that may hemaft be made and in and to all caicession agmenients hereafter mede affwft any part of the Promise& AsWgrmxw or sublease to another govermilental cnMyor to a not for entity that provides services to the general public is n presumpt . aga 18- kMAWHQ&D1IO—N0FLE I In additim to any other hidemnitics to LESSOR qmwifically provided in this Lease, LESSEE shall inderaniry and save harinicss MRSOR and from all liabilities, liens, suits, obligations, fines, damages, penalties, cWms, cub, dMas and expenses i ncluding .. architects ' fees by or on behalf of any person which may be unposed upon or ln=red by or asserted against LESSOR by resson of the use and/or occupancy of the Prenfises I any part thereot or any surrounding areas, by LESSEE or LESSEE servants . indemnificat Lease. This t shall not be limited l oss or damage ansing out of environnimW hazards or contamination. The provisions of On Article and the provisions of all other indemnity provisions elsewhere contained 'in this Lease sliall survive the expiration or earlier termination of1his Lem for vvents occurring prior to such expiration or termination. LESSOR drall. not in any event Whawever be liable for any 'Jury or damage to any Mi personal property or to any person happening am 'in or about the buMng being ]eased, whother belonging to LESSEE or any other person, camsed by any fiM breakage, Icalcage, defect or bad condition in any part or portion of the promises, howsoever caused unless such injury or dmnaV is miusIed by the gross negligence of the LESSOR, its agents or employees, or a breach or default by LESSOR of its obligatioas under ft Lme. LESSEE sWL at its own cost and citperise, if raqwsted by LESSOR, deferd any and all suits or actions Oust or J which may be brought against LESSOR or in which LESSOR unjust) may be impleaded with others upon any such above-mentimed matters, claim or clKiMS, In such event, LESSOR agtecs to cooperate and assist LESSEE and LESSIWs comisal in providing documentation, plans, specifications and any other agreernents or documents which may be reasonably required by LESSEE and/or LESSEVs agent in order to doibud. such suit or actions. In adrlition to tbo foregain& LESSEE shall pay to the LESSOR all costs and expenses, including reasonable attorneys' fees .. (ing costs, expenses and attorneys' fees in any Wpollaw proceedings), incurred by LESSOR in any action or proceeLling to which LESSOR nay be made a party by reason of any act or emission of the LESSEE ® CT14DN 11 6. 1`: " I'lf Nii"URT"" LIM Neither LESSEE nor anyone claiming by, throqgli or undm LESSEE, shall have any n&M to file or place any Han of any Idud or character whatgoever on the property and notice is hereby given that no embactor, subcontractor, or anyone else that may fitmish any matenal, service or labor to the property at any time shall be or become entitled to any hen thereon whatsoever. For the fiuther sevvrity of LESSOR, LESSEE shall actual notice of this resuiction in advance to any and all conuactom, subcontractm, or other petsms. finns. or corporations that may fiantish any such material, am-vice, or hbor.. If such lien is Mad WAnst LESSOM interest on the Property, LESSEE shall cam such lien to be released of record cw banded off within fifteen. (15) days ofLESSEVs Imovdedge of each Hen. 20. C 2&dffAD N Q_ If at any time during the tem of this Lem, the whole or materially all of the Premises shall be taken for any publk or quast-public purpose by any lawful power or authorAy by the exerese of the rigirt of condemnation or eminent domain or by agmenient bomeen LESSOE, LESSEE and those authorized to exercise such AgK this Lease, the ftrm hemby grantcd, any rights of renewal hereof and my mevKd term hereof, shall terminate and expire cm the date of such Wdug and the rent and other suin or sums of money and other charges herein reserved and provided to bo paid by the LESSEE shall be apportioned and paid to the dato of M, Dommem and 3eMnjP\kwk§vAL*mI 9eWn0\TemqmmrY Intenvet Flos io era base FINAL dewdoc suchtakikqg. b For Otis part, the terin "materially all of am Premises" sWJ be dwmed to incen such porfion of the Premises, as when w taken, would ewm reanaining a balance of the pftmises whicli, due eitim to the am so taken or dw location ofthe put so taken in relation to the part nm so taken, would not allow do LESSEE to continue its business. operation% or would not under econoinic conditions. zoning laws or building mgulations flien existing or prevailing, readfly accommodate a new building or buildings of a nature similar to the building or buildings existing upon the Land at dw date of such taking and of floor area mfflicient, togaffier with bdIdings not taken in the Condeninalion, to operate LESSEE's business, taking into a=unt all reasonable parldrig requirments. C. For the purpose of this Attide, the Premises or pad thereat as the ease may h,- shall be domed to have been taken or condemned on the &ft on which actual possessionof the Preanscs or a put tlicrcoif, as the me my bc� is acquired by any lawfW power or aulhor* or ffie deft on which, title vests ffiacin, whichavar is emtkT. d. It is further understood and agreed that if at any time during the Terin of this Lem the Proteins or the Pmperty or the improvements or buildings located thercon. or any portion therco& be taken or appropriated, or condemned by reason of eminent domain, the entire award shall bo the property of &a LESSOR and in no event shall LESSEE receive any portion of any award made to LESSOR. LESSEE &hall have the right to make a separate claim for its own damages. en In the event less dm materially all of the Premises sWI be taken by governmental anthotitN thow. 1. If the portion so token does not affect, the operittion of LESSERs business, then Lease &Wl continne in full fome and effect. ® In the event the portion of the Predzum are takm so that LESSEE is able to WntinUC to operate its buaiwu but tho operation of such business is reduced by ramon of such Udm& then 1he Hase Rad sliall be reduced proportioneWy by the sure percentep as the squm lbotap of the Premises which have been talm by gavernmentol authority bears to the total squgn fooftge of the Prenilses, prior to such taking. 21. DESTRUCTION OF LREW&ES A. In the event the entire Premises or manially all of the Promi-sw am destmycil, by fire ar officr casualty. LESSOR aWl he" the noon of terminaft ft Uaw or of rebuilding the Prornises and shall give written nodoc of such election to the LESSEE within djhty (30) days after Ike date of such casualty. In the evxmt LESSOR elects to rebuild dw 1 the Premises dtall be raftred to its lbraw condition within a reasonable tinic, during wldch the rest due fium LESSEE to LESSOR hereunder shall abate. In the evere: LESSOR elms to tenninatu this Leaft, Rent sliall be paid only to the date of such onvalty, and die term of this Least shall c4dre as of the date of such casualry and aball be of no firther force and effect and LESSOR shall be entitled CAD=nwnts end Sdf SauftATempawy IrUrnet FHer-\06.X11\71D ma Ism FINAL deari.doc to sole posmsion of the ® USSEE shall have the option to terniftwe this lease if fire or Casualty marks in the LESSEE being unable to occupy the p rem i ses f LESSEE* Cus activities for mom dim eight (8) months. b. For this Part the term "Materially all of the Pnmisesu shall be deemed to me= Such Portion of Me Pz=Ww4, as when so destmyvA would leave remaining a b o f th Premim which due to the amountof arce. destroyed or the location of the pad so destro i rektion to the part left umhmaged woeld not allow the LESSEE to continue its bushms OPM C In the event of a partial destmetion. winch is not materially all of the pnmise th Bow Rent shall Proportionately abate based upon the square footage of the Premises reniannig undamaged and LESSOR shall mTw the damage. d. Notwithstanding the forcpm& if the damage or datruction is as a result of th &Won or inaction of LES or LESSEE7s employees, or agents, mvirecs, or as a result of LESSEE not fulfilling all of its obligations under tWs Lease, no Rent ihall abate and LESSEE shall nuke all necessary repairi 22. Ql� E, upon paying the Rent and all other sums and charges to be paid by it as herein provided, and observing and keeping all covmants, warranties, agreements and conditions of this Lease on its part to be kept, shall quietly have and enjoy the premises during the term of this Lease, without hindrance or molestation by LESSOR. 23, P-U-AILLTS Eachof the Mlowing; events shall bean "Event of Definilt" hercunda: a. Failure of LESSEE to pay any installinent of Rent or any part thereof, or any other payments of money, costs or expenses herein agreed to be paid by LESSEE, when due. b Failure to obscive or perform on one or more of the other terms, conditiom covenants or agreements of dus Lem and the confimiance of such failure for a period of fificen (15) days after writtert notice by LESSOR spec&iing such failure (unless such fifflure nxpim woik to be performed, acts to be done or conditions to be imlwevc4 as the caw may bhp, Within such fifteen (15) day period, in which cue no defimlt shall be deemed to exist so loog as LESSEE shall have commenced cunng the same w1dim suc 15 day Period, and shall dileuttly and continuously prowzute the am= to completion). C. If this Lem or the estate of LESSEE haremmler shall be transferred to or assigned to Or subleased to Or " 110495 to any Person Or paW, except Mi a manner herein permitted, ® If a lev7 under execution or attachment shall be made against LESSEE or its property and swh execution or attachment shall not be vacatad or removed by court order, bonding or otherwise within a period of&* (30) days. e. A rejection of the Lease by a trustee in barikreptcy appointed in connection Vdth the bankruptoy of the LESSEE. CADucurfigrd and SoWaWbrcak"Uml $MftP%TMMPQrarV Iftemet Res 1730 aa leme FINAL cleanim L A failure to vacate the Premises upon termination of the Lam No payment by LESSEE or reccipt by LESSOR of an anxnmt less than the required payment set forth. in tb-- Lmse, shall be considered a anything other then a partuil, payment of the arnount due. No endorsement or statement to the contrary on any check shall be deemed an accord and satisfiaWan. LESSOR may aeccpt a partial payment without prejudicing LESSOIVs right to - recover the balance of such payment which is still due, and without affedting any other remedies available to LESSOR. 24. REMP-M Upon an "Event of D:Wt" as deficed above, LESSOR at its option shall have the fbIlowing nm-e=lusive remedies in addition to those provided by law: a, LESSOR, may treat the Lem as terminated whawpon the right of LESSEE to the possession of the Premims shall immediately terminate, and the mom retention or possession thereafter by LESSEE shall cowliftan a fordble detainer. b. LESSOR may termimac LESSE0s right of possession. without the ternimation of this Lem, in which event LESSOR shall have the right to re-let the Premises as the agent for the LESSEE and to hold the LESSEE respansiblo for any deficiency between the amount of Rent realized from such it-letting, including but not limited to renovation and repair expenses. Brokerage Expenm and the amount ® would have been payable by LESSEE under the terms of this Lease. No re-eatry or repossessicm by the LESSOR shall serve to terminate this Leas-, unless the LESSOR so elects in writin& nor shall it release LESSEE fivm any liability for the payment of any Rent stipulated to be paid pursuant to this Imse or for the performance or fidfillment of any other t= or condition provided hereftL a. LESSOR may declare all the installments of Rent for the whole terin ofthis Lasse to be immediately due and payable at once without fiuflm demand, in which event all wais payable to the LESSOR shall bear interest from the date of delbult at the highest raft permitted by law. d. LESSOR shall ban the right to take no immediate acdon and to hold ft LESSEE le far the Rent as it becomes due, responsi e. Any Base Raw which was abated or W01ved by LESSOR shall also he immediately due and payable by LESSEE to LESSOR. t In the evtzd of a holdover by LESSEE after the twmaetion of this Lease� LESSOR shall have the right to collect double the amountaf Ban Rent In addition, LESSEE shall be responsible for any oM or expenses hicurz by LESSOR as a result of sucb holds=, including but not Ifirrited to any demage incurred by LESSOR as a result of LESSOWs inability to nake the premises available to a new LESSEE. 21 AU DINEYS' FEES In the event of any litigation arising out of this Lesse, the Loft Pary "I pRy to the Prevailing Party all costs and expenses, including reasonable attorneys'fees; CUDSUMents 1 SeftingiNTemparary Internet RI@zVML1%710 era f e FINALdan4dc ( I including appellate proceedings) which the Prevgfing Pa* may incur. 26 �RTI�FICAT�FS Bid= party shWi, w ith ou t c h" ge , a t any ti an d fi- t to t hereafter as may be commercially reasonable, within fifteen. (15) days after written request of the other, comlify by written instrument duly executed and acknowledged to any mortgagee of purchaser, Of proposed mortp9ee or proposed purchaser, or any other puzwn, f= or corporation spezi in such request.- H. As to whetber this Lease has been supplemented or amended, and if so, the substance and manner of such supplement or amendment; b. As to the validity and force and efiect of ® Lease, *in accordance with its tenor as constituted; and • As to any other mattm as may reasonably be so requessted. Any such certlfmte May be rehed Upon by the party requestmg it and any other person, firm or corporation to whom the same may be exhibited or delivered, and the contents of such certificate khall be binding on the party executing same. Should any banizing institution, savings and loan association or other institutional lendex to whom LESSOR is applying ibr a loan which, if granted, would make such lender a LESSOM mortpgee, request reasonable modification in this Lease, the effect of which would not make a chanp in the rental or other economic terms of this Lem or !ncrcase LESSEE's wq=ses or the risk to which LESSEE Is expowd, LESSEE agrees that it shall not unreasonably withhold its apvcment to such modification. 27. RADON GAS Radon is a naturally occurring radioactive gas that when it has accwnuhftd in a building in sufficient quantities may present health is to persons who am exposed to it ova time, Lcycls of radon that exceed &dcral and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit 28. SIQRMS LESSEE agrees to exermse reasonable care to pMect the Premises and Propwty in the event a public warning should be issued that the Promises am threatened by a hurricane, tornado or Korm of similar magnitude. 19. IMSQR 'S 28 RIGRT TO PERFORM LESSEE NANTS If LESSEE shall at any time JIM to make M payments in accordance with the prcmisions hereof, or to t&e out pay for, maintain or del r shall hil to make any other payment or perfbnn any other ad on its pad to be made or perfbrmed, %= LESSOP, a&r thirty (30) days notice to LESSEE. (Without notice in case of an emergency) &ad without waiving or releasing LESSEE from any obligation of LESSEE eontained. in this Lease, may (but is under no obligation to), 4. Pay any amotint payable by LESSEE pursuant to the provisions hereof, or C-0acurnents and SMn SemnVkTamparaty Inbarnet R ?j0 C" I&M R de",doc b. Make any other payment or pesform any otha act on LESSM pat to be made or performed as provided in this Lease, and may enter upon the Pxernises; thi that purpose and t*c all such action thercon as may be necessary therefor. All sums so paid by LESSOR and all cogs and wqicases incurred by LESSOR in connectiori with the peribimance of any lowed by law. 30. Any notice, designation, consent, approval or other communication required or permitted to be given pursuant to the provisions of this Agreement shall be given in writing and shall be sent by registered or certified mail, postage prepaid, return receipt requested, addressed to the addresses set kirth on the fh* pop of this Lcnse- Notice may also be given by band-delivery. Either patty may, by notice given in accordivice with the provisions in this sisetion, dwignate any fiudw or diffamd address to which subsequent notices, desigmeoris, consents, approvals or other communications pursuant to the provisions of this Agreement shall be sent. Any notice, dedguation, consent, approval or other communication shall be deposited in any post offloe or official dOPEMUNY o United States Postal Service In the State of Florid& 31, l i JWQUS MATM AL LESSEE shal not knowngly cause or permit any hazardous ® to be brought upon, kept, or used in or about dw premises by LESSFY, its agents, employees, contractors ei invitees. If the Premims me, through LESSEE's fm% contaminated by hazardous matcriWs, then LESSEE shall indemnify, defend and hold LESSOR harmless from any and all claims. judginents, damages. penalties, fmes, costs. liabilities or losses (mcluding widwW limmation, dimuration m value or uwable space or of any amenity of the Premisesk damages arising ftm any adverse unpact on marketing of space, md soms paid m settlement of claires, attorneys few, consultants few and expert few (Woluding any MVeals) which arise during the lam term as a result of any such contamination. This indentrification. by LESSEE inclutim without limitation, costs incurred in connection with any hwestigation of site conditions or any clean up, remethation. removal or restoration work required by any fuderal, state or local goveniment agency or political subdivision because of hazardous material present in the soil or ground water on or under the promises. Without limiting the foregoing, if the presence of any hazardous material on the Premises is detected. LESSEE "I prompdy take all actions at its sole expense as are necessary to return the Promises. to ft condition existing prior tD the contamination or urtmduction of such h adous imanal to the Prormses; provided, howmer, that LESSMA approval of such actions shall fim be obtamad� vAuch appwval shall not be unreasonably vnfifludd, so long as such acdons wouM not potentially have any material adverse effect on the Premises As used herem, the term hwardous: materials means any hazardous ar to= subsume, material or waste, winch is or becomes regulaWd by any local government authority, the State of Florida or the Umted States governumt The term "hazardow maUxial" irwhides, wiftut limitation, any material or antIstance that is (1) defted as a "hazardous substance" under CADvairmnis and 5eMwVxwkM%j=I SaMfW\TAmpwsry Interne Flla&NOLK:111710 cra lease FINAL deirtAw VIVMPriate state law Prolisions, (2) Petroleum, (3) asbestos, (4) designated as a "hazardous substancW'pursuant to Section 311 of the Federal Water Pollution Control Act (33 USC 132 1), (5) defintd as a hazardous waste pursuant to Section 1004 of the Federal Resource Consa-vation and Rmovery Act, (42 LYSC 690), (6) defined as a hazardous substance pursuant to Scodon 10 of the COMPrObenSivc E!Mr Response, Compensation and Liability Act (42 USC 9601.), or (7) dcfmed as a regulated substance P'urstmt to Sub-Chapter VIIL Solid Waft Disposal Act (* ML underground storage tanb) (42USC 4991). 32. LMSEE MMLEMSS None of the provisions of this Lease shall be decrued or construed as Mserving to LESSOR any right to exercise any control over the bushms or operations of LESSEE conducted, upon dw Promises or to direct in any respect the d or man= i w hi c h any such business relationsbip other than a LESSORILESSHE relationship is & found. LESSEE is an iriftendent busincuperson and neither LES nor any pa or p onV b LESSEE Bre 480ITtI, suvants or employces of LESSOR and LESSEE agrees that in LESSEE's ® with the Public, LESSEE will not represent or hold its employees as agents, servants or employees of LESSOR. 33. fiLQN__S LESSEE shall not place or pormit to be placed or niaftrhiined on any interior or exterior door, wall or window of the Promises or Property any sign,. awning or c ano p y or advertising matter or offier thing of 'any kind or decoration, nor - %% , dl any illuminated sign be PWed in the window display are4s) of the Preinises or Property without LESSOR!s prior Written approval end consent. LESSEE shall be responsible fbr the cost of an outdoor buildi s ig n , install an d Permit fecs/cOft, Outdoor building sign must comply with -city sign regulations, The outd= building sign shall bet similar in style, size and color as the other signs on the building and must be approved by the LESSOR in vniting prior to city permit and installation. LESSEE shall remove the outdoor building SiM repair holes and pamt the area where i d appeared prior to sligne the expiration of Lease at LESSEE's expense. 34. hffSCELL BOUS AN The parties ftirther agr�oe as follows; a, The covenants, conditions and agreements contained in tins Lease shall bind and in= to the benefit of LESSOR and LESSEE and their respective heirs, su administrators, representatives and perinitted assigns. b. Thim Lease and the performance thereof shall be governed, interpreted, construed and r%pilated by the laws of the State of Fbr C. f the LESSOR under the terms of this Lease shall be cumulative, and failure on the pod of LESSOR to exercise promptly any rights given under the terms of 6s Lean shall not operate to forfeit any of said ngW noT sball the same be. deemed a waiver of such fights. SVUkWATeMP=YY i 1 20aa lease RWdean.doc d The pardes aelmowledge %a each has bad the epportmity to have this Agreerunt rmewed by comsel and notwithsUmdrag the fact that this Agreement was initially drafted by Ardw B. D'Almaida, PA, the attorneys for LESSOR, aH parties have parfidpated eqwMy in the EaW wordnig of this Agreement, and in the ewat of any dispute regarxiing the meaning of any of the tam herri% such temis dIall not bc construed against dw LESSOR anWor Arthur B. WAhneida, P.A. e- Ibis Lease shell not be recorded in the Public Records. Thu Lem is a public record of the Boynton Beach Community Redm1opment Agency E This Agreemet-A repmaents the entire understanding between the parties, and suparvedes all prior agreements, oral or written, and this Leam Agrement may not be amended @=pt: by an itistrument in writing sigwd by t1w pwucs havto- & The submission of this domment for examination does not oonsfitute an option or offer to lease space at the Property, T'his document shelf have no binding effect an the pafies unless executed by the LESSOR and the LESSFE and a fully executed copyus delivered to tbe LESSEE. k Ile LESSOR and LESSEE understand und agree that TDAE IS OF TBE' ESSENCE of A of the terms and Wovisions of this Lem agreement. 1. If any tam, covcnan4 condition, or provision of dus Leon or the application themof to any person or circurnstarice shall, at any time oi to xW extent be invalid m unenforceable, the remainder of this Lease, or the application of such tmm or provikon of persons ca circumstances other than. those as to which it is held Invalid or unenforceable, shell not be affected tbereby� and ewh wrm, comment. condition, andprovision of this Lease dW[ be valid and be enforced to the fullest eMent permitted by law, j . No Judgment dWl be taken agahist any partner, siftidiary. offim, ahar"dw dirvotor. employee, sista coqxnabou or agent of LESSOR and no Writ of Emution shall be levied against tbe asseft of any partner, subsidiary. officer, sluireholder, director, enqAoyM s1mr corporation or agent of LESSOR. Any Hability of LESSOR sball be limited to IXSSOWs ft*na in the Property. k. The LESSEE is a tax mempt governmental entity. AM mf=ooe to taxes in thir; Lease shall be construed to mean "tun, if applicable. 1. The LESSEE shaft have the n& terudnate this 1AWe in 1he r, 9' 9P, or I& yew of the lew by giving LES SOR one hundred and eighry (ISO' ) days prior written notice of intent to tertninatc, subject to a confirming LESSEE obWon to pay mondily raw as follovw In Y year- LESSEE obligated to pay 80% of monthly rant In 9' jear- LE SE 1i 60% of meANY rmt in go ce" �b 40 of monthly rent 101 " LESS li In ® LES r WE ob 20% of monthly rent Q\Documawks and SMngs SeulnggYrOMPOMY 10UMN n1M\0U11\7,W cm lam FINAL dasn.doc In the event LESSOR rems the Property following termination by LESSEE, the LESSEE's obligation to pay reduced rent shall end. , in. LESSOR agrees to credit LESSEE the total sum of $73,000 proportionatrly in Years 9 9 and ID, an a monthly basis at a raft of $2,027.78 per month, unless LESSEE exercises its right to temunew this Leasq, in winch event LESSEE shall reflmd to LESSOR any rental credits praywusly provided LESSEE under this paragraph. ft. 71m Lease is contingent upon LESSOR obtaimm; limmaing for the proposed renovations otthned ®, This Lease shall be voidable by LESSOR within 45 digs of execution in the event that LESSOR is miable to swure the neowsezy financing. 0. LESSOR will apply fbr and receive a CRA &Vade grant Ile LESSEE shall wePenite With LESSOR in the application and processing of the documentation necessary to mzeive such grant. CRA Board approval is a condition to okmmng any fiWade grant, 35, BROKER FEES LESSOR shall indemnify, defend and hold harmin-gs th CRA f rom and againa any and all claims, losses, damages, coo or expenses (including, without limitation, attarricy's fees) of any land or claracter arising out of or resulting fiorn any agreement, arrangement or understanding alleged to have been made by LESSOR 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 Agreerneit. 36. BANKRUPTCY Notwiffistanding, anything herein to the conuary, in the eveet LESSEE is the sullect Of HAY bmkrupV.'y (including reorpnization or arrangement proccofts pursuant to any banbWtcy), voluntary or involuntary, then LESSOR shall have the Aght to terminate this Lease. 37. ALRY-1 -WAIVER THE PAR HEREBY WAIVE ANY RIGHT'S TO A TRIAL BY JURY IN ANY ALMON BASED UPON OR ARISING OUT OF OR IN CONJUNCTION WITH TMS LEAM 38, OPTION TO EXTEND LEAM.: Provided LESSEE has paid all rent on or before the I ffi day of cach men& and them has been no evew of dolkidt under any of the terms of tba Lem whatsoever, LESSEE aliall. have the right C4)0o6*), to be otercised as provided for in this Article, to extend this Lease for ane (1) Renewal Term of five yem commencing qon the expiniton of the imbal. Law taim provided ibr hcn= Ilic Lem during the five-year extension shall be traded as a triple not ione in an respecM purstiant to wbich LESSEM shall be responsible for the payment of all Expenses as luncWfore defined Tim base rental Aall be as provided below and &0 be increased at a roe of 5% per mumm. Monthly rent payments shall be paid as follows: V Year Exteirsion - $7,505.97 per month base rent plus Expenses and applicable Mies t8X. CAOmmerib PndSeU1nzAbr*oham\Locs1 WinpAtemPNIN Intemel NOWMA710tu W&W FINALdan-On 2 nd Year Extension - $7,891.27 per month base rent plus Expenses mid applicable ilales tex. P Yea Fxtension - $8,275.33 per nwath base rent plus Expenm mW applicable sales UM e Year Extension - $8,6W. 10 per month bow rent plus Expenses aid applicable sales tM 5" Year Extension - $9,123.56 per month base rent phis Experseg and applicable Mies tax. IL The Option to Extend Lease may be exerdsod only if no deiault cdsts under any of the tarns of this Law when 1he Option bewmes exercisable and th= has been no event of defiwIt under any of the tems of this ham whatwever during the initial ton year term of this Lease. In aMbon, if LESSEE has been in defauft by a reason of a failure to pay money when due dunng the Lease tam, no Option to Extend may be exercised. b. Ihe R=wal To= shall be on the same tenns, covenants and conditions pwvided for in this Lease. except then shaU be no privilege to extend the term of this Low for any period of ume after the expiration of the Rxnewal Term. The Base Rent for the Renewal Term shall be mcrened by 5% percent per annum. 11te right to extend the Lane shall be exermsed in the following inannw At 1=9 one hwWred oW* (1 80) days prior to the w*wflon of the initial tam, LESSEE shall notify LESSOR mi Wn' ting of its election to exercise the d& to extend The term of tins Lease for the renewal term; b. Upon the i - of the notice of exincise of this extension option, the gIVMg Llum shall be deemed to be renewed aid the twn thercof renewed for the period and upon the terms provided above without the exactdion of Antha lease or inshument CADocumau and Settkvt brwkWL=l Seftinss\Tempmry Internet flleslotwvia cre lease HNAL dean doc IN WrrWESS s the parties have hemmto set their hands and sea[s the firs day and year abo vaitten. WrINESS. LESSOR: 71 0 TO , LIC t . r Namc X Memw r` : E- LESSEE: BOYNTON BEACH C OhMffJNlTY REDEVELOPMENTAGENCY J j Printed Name: :, Rzyi and v JwiWk y mey Vi , Acting ExceWrve Director C:%Dmmenb and `t I Setfings\TemparWy Internet Rlel\QLIM Cm lemse FINAL deart. MaHBIT"'A" LESSOR sliall oomplete do followi rwovg S M repa a t LESSOR's expeow- Demolition (interior and extmwr) Repair concrete floor footings Install 3 steel columns RePlace casting doors and windows with new hurricane turpet resistant doors and windows Now exterior shicum New shingle roof F-k paint Clean, patoh. scal and stnpe extmor parlang lot HVAC — d= ww five tm units, Electric—Now 400 AMP SM'vice mid Two 200 Amp lawrior Panels Plumbing — Two badrooms and one water fountain HVAC intezior Interior electric per code/butlets per code Wqk0nakomputa outlets — K"" empty conduit —1 per office Interim ligb*W C2"x4" parabolic &-ftm) Fire alarm sydem per code Exclusionx Seemity, telephone and compuw systems LandseVing CADOwftents end sawm%bradn4wA SeWWTonver-w in term FR 7i leaSe FINALdwhAmc EXHIBrr"w LES-Sms Work LESSM shall, provide to LESSOR's GenaW ConhwW sealed an'bllM'UUUI PIMS rCUdY for PMnl=g dCWhDg &C BDJ IOWW renovatiow to be completed at LESSEE's expense: Drywgdl partitions Interior Prep floors New carpefing VCT at two bathroems Vinyl base Now cabhuft — bzu& room Fire Owngumm CCHiW — 2'x4' New dows and bwdwwe Cmpmtry kbor Miscelhmww specialties Or as amended by LESSEE in its discretiom subject to approval by LESSOR- $88,000 CNWculflents and inIANTIampaVary MMet FHWVUL1k 710 M Wase FINAL clean doe Meeting Minutes Community Redevelopment Agency Board ynton Beach, FL September 14,2010 Chair Rodriguez closed the public comment. He requested considering for promotional entedWrtment services be added to New Business Item I. motion to amend the n was needed. Mr. Orlove moved approve. Mr. Holzman seconded the motion. The motion E. Review and Approval of Lease for 710 1 Highway (Holiday House) /1 This Item was heard out of order by prior motion of the a . Arthur i , 105 E. Palmetto Park o aton, prepared vis proposal which he distributed to the Board. A copy of proposal is on file with the i Clerk's Office. Mr. D'Almeida gave a very lengthy review of each page of the proposal, The new I was a 10-year lease with an option to n l after six years with penalty that was agreed on. The base t was $16 per square foot. The Common Area and Maintenance (CAM) charges would v. 76 per square foot and the lease included n annual rent increase of . The security deposit would be one month's rent. He would build out the exterior n interior. The contribution under the lease he had r iou ly negotiated called for a Community Redevelopment Agency contribution of $88,000, That amount was reduced to $73,000, which u e refunded to the Community ev nt Agency over the last three years of the lease. The lease would allow the o rd to sublet part of the space, Mr. D'Almelda compared the lease to the a locations viouly considered. He also indicated owned other buildings in the nd he interested in redeveloping them l. The redevelopment would make a statement and establish a presence. His costs were as fight as they could be. The building would be an anchor. The members were impressed with the presentation. Mr. D'Almelda was questioned a out the n If tion provision. The new cancellation provisi in the lease was on a sliding scale basis. If the lease was broken in the 7th year, it was %. In the 8th year would be 60%, 40 In the 9th year and 20% in the 117th year. The lease terms were reviewed with Ms. Bright and Attorney Cher f and agreed on. The money not agreed on. He pointed out the return of the $73,000 over the last a years of the lease that was the given by Community Redevelopment Agency to improve a building included in the r osal, 11 Meeting Community t Beach, Boynton FL September 14, 2010 but he offered it publicly to the Board- He explained interest i t r buildings in f his plans to improve the ili reflecting coWlike common area were included in the r oposal. Some of the buildi on-site would extensively improved. Vice Chair Ross inquired r s were reviewed by legal and staff. Ms. Bright was asked r her thoughts on the information i. Bright thought rt presentation, In ti Attorney Cherof and Mr. D'Aimeida he had indicated items. The only two questions that thought the Board should consider was the 3,500 square-foot of space was based on an HR plan that was a growth model and she was not sure they in pertained to r e cost effectiveness standpoint. explained it office current per square foot, in total, it was annualized at $3,300 This it rent. Other than t it was a great deal and it was a great redevelopment project. it. When asked if they would consider subleasing, Bright thought the front building l r a fledgling lI Harris reviewed the ' t t, It important records stored in location t r facift was Chair Rodriguez corrimented he thought the location i to showcase the new Community Redevelopment Agency office and they r serious about redevelopment on the i provided r an art gallery, or business incubator in l It was not a pure business dealing; it to blighted I area i. Mr. Holzman agreed, D'Almeida announced his builder ( I build-out within after days the permit, Mr. D'Almeida felt six-months was a better timeline, six-months emphasized r ovements were govemment-issue improvements, not fancy improvements. The project was a remodel. It was noted this was the t time staff reviewed the proposal. Mr. Hay thought staff should i initially, it good, looked The only items changed from i i l proposal l increase down to !. The CAM charges were reduced because the taxes went down to r foot. He would i for $73,13W They would penalties cancellation r the in i nine, and proportionately. They would . Attorney r of noted sub paragraph t Cancellation. - D'Almelda commented he met with his Meeting Minutes Community Redevelopment Agency Board Boy nton ® FL September 14, financing in I ace but he had a provision that he had a 45-day window to subject vAthdraw from the lease to tii the loan and it was based only on obtaining the # i . Mr. Orlove commented t was one of the reasons why he had requested the item be tabled. also iscl publicly that he met with the 'AI I 's to go over this. Mr. Orlove moved to approve the lease for 1 Highway. Mr. Holzman seconded the motion. Mr. Hay thought it was only fair to have staff review the lease. He supported the lease but was uncomfortable making an on-the-spot decision. It was noted the Board s discussing this for two meetings now. The Board was prepared at the last meeting to vote on the matter. He had doubts because the cost and the way it was put together. Chair Rodriguez also pointed out the Board has n attorney and Executive Director with the contract. Attorney Cherof suggested they add an approval line at the bottom of the signature document for the Executive Director and an approval line for legal. The last person to sign would be the Chair. In this manner, all parties would signify via signature that they reviewed the document. it was noted the matter was tabled the lost meeting. mgftn- the r seconded the . Chair Rodriguez opened the floor to public comment. Brian Edwards, 629 NE 9th Avenue, commented heard the conversation twice. He expressed it was a great deal, and a great deal 1br the district, not for the office. He felt very strongly the nuun House should remain e first choice for the office. He thought they should fine individuals for allowing their properties t is to to such poor condition and he suggested t topic be considered on a future agenda, He guaranteed if they checked the inues, e conversation for the Magnusun House was the same as for the Holiday House. He compared the situation to owning house for $800,00a, they would nort be looking for another house for'$700,000 that you would not at the end of six to ten years. He thought there was much discussion during the budget about salaries and saving money, now it was okay to spend a money when 13 Minutes Meeting Community Redevelopment Agency Board t they had a home already. It was tax dollars. He thought the Board had an obligation to determine how to develop the district, not to do it for everyone. He explained the reason the pdws increased when the a's researched the rents listed for the establishment the Community Redevelopment Agency had researched as potential locations for their office, was because a about it in the paper. He thought some consideration should be given to that. He asserted the staff did not have to move right now. There being no further comments, the public comment was closed. There was a vote on the Lion. The motion passed, 4-1 r. Hey dissenflng.) Chair Rodriguez clarified e Magnusun House conversation indicated an investment of $850,000 and another $800,000 to restore it for offices. 1. Legal A. Establish Schedule for Transition of Current oar and Attorney Records S. Discussion and Action on Submitting he to Jurisdiction of the Pal ea o Ethics Comm" on and Authorizing Agreements to Effectuate that Intent Attorney h f explained there was no backup to this item. It was a continuation of a discussion held by the City Commission about entering into an agreement to turn over jurisdiction of ethics plaints and review to the County Commission on Ethics. If that was moved forward on the City Convnission Agenda and approval of an agreement was made, then the Community ev lop nt Agency would decide if they wanted to loin that agreement. If they wished to do so, the agreement between the City and County would be amended to include the Community v Io ent Agency. It would be a tri-partied agreement with identical s. The a could approve it contingent on City the approving it. The agreement could be amended fore it goes to the City Cornmisslon to show the inclusion of the Community eve t Agency as a signatory. A motion was required. Moti Mr. Hay so moved to enter the Community a Io nt Agencys portion of it with the County n the City. Vice Chair Ross seconded a motion that unanimously passd. Mr. Holzman left the dais a t . 18 p.m. 14 RESPONSE TO QUESTION 63 Project CAPITAL OUTLAY FY 2013-2014 2MM & 15 . Original Year End Proposed Change Incr1 cr SUMMARY B ud udget Estimate Budget Amount 401 $1,279,970 $1,581,1' 534,11 - 790,024 (791 , 115) 100% 402 1 125,000 125,000 34,15 215,850 173% CONSTRUCTION I N PROGRESS $2,315,190 $2,398,275 $1,788,559 $1.327,921 $ (1,070,354) -45% 40 5 SITE WORK & DEMOLI 25,000 $ 200,000 $ 25,000 100,000 (100,000) -50% 406 INFRASTRUCTURE 213,195 $ 285,195 $ 226,802 715, 5,0 430,308 151% $ 3,956,355 $4,589,609 $2,610,626 $ 3,274; 1, 1 319 - Increased $125t1F Bug Amendmeunding Source ver FY14 -15 401 127 , 1, 1,13 11 7,024 $ 402 ! 1 1 ,0 34,1 a i i I for istct $ 25,000 25,000 $ - $ 25,000 $ - r i s l ro i $ - - $ - $ 2 $ 25,000 nt !y Signage at North Sign & SoHftfE $ 100,000 100,000 34,150 290,850 $ 65,850 $ 100,000 R e d uced $185,000 B udget Amendment #1, 404 C l 15,1 2,3 7 1 T 1,327, 1 15-02 from: 3763 M arina - Phase 2 (c) 1,600,000 $1,600,000 $ 1,223,696 191,304 $ 191,304 $ M arina - Open Space Construction Sou thern rive Lane Repair and Re surface - - $ - $ 700,000 - $ 700,000 211 E. Ocean - Renovation Grant 186,795 186,795 - 200,000 186,795 $ 13,205 P ark StNe , Li ht Enhanceme - - - $ 25,000 $ - $ 25,000 rin & Str Enhancement - NE 4th $ 528,395 $ 611, $ 564,863 $ 211,617$ 136,617 $ 75,000 405 0 100 $ $ 100,000 Reduced by Ed Buget Am 406 f 7 T 213,1 285,195 , T7 ,5 - O cean Housing Subsidy - - 60,000 $ 132,000 $ 132,000 $ - re j t [ )[) $ 61,050 61,050 $ 61,050 $ 166,335 $ 175,000 325,000 North Fede ral Highway/FEC Corri Highway/ - - - $ 132,775 50,000 $ 82,775 Lands $ 92,145 $ 92,145 $ 35,752 $ 416,393 $ 56,393 $, 200,000 Tree Lighting rojc - Ocean v (c (a) A portion of the total rollover of $1,047,024 from FY13 -14 reallocated to other projects as follows: Increased by $160,000 - 1. North Federal Highway /FEC Corridor Landscape - $25,000 Bud get Amendment 1, 2. Parking - NE 4th Street - $90,000 R15 -02 from $256,393 3. Woman's Club Historic Grant Match - $25000 (b) Old High School demolition of $175,000 in FY13 -14 reallocated to Town Square Project and $325,000 additional from FYI 4.15 for a total or $500,000. (c) Line item Reallocations - R15-02 - Budget Amendment #1 D cease Increase $185,000 - from Marina Phase II $125,000 - to Entry Si north & south Federal $333,665 - from Town Square $160,000 - to Ocean Avenue Lighting Project $100,000 - from Cornerstone DIFA $506,950 - to Economic Development Grants RtzipuNzir. TO QUESTION 66 Pro ject n PROFESSIONAL EXPENSES - 02-58100 FY 1 1 rlinl Amended r r fin !cr /( cr SUMMARY Budget Budget ti to u Amou CONTINGENCY $ 75,000 $ 75,000 75,000 100,000 , % PROFESSIONAL $ 511 , 610 $511,610 767,210 , 50% 207 - - - 11,000 $ 11,000 100% 213 LEGAL SERVICES $1 $150 $1 1 - 0% Total $736,610 $736,610 , - 1,028,210i 21, % ----------- Funding ours p ollver __FY 15-16 CONTINGENCY 7' 7, 7, 1 1 PROFESSIONA $511,610 11: 1 767,21 Surveys & Appraisals $ 50 $ 5 $ 50,000 $ 100,000 - $10 Ar chitectur a l sl it ance $ 75,000 $ 75,000 , 1 , _ $1 50,000 Plan e- r 'r Corridor & Downtown Master Plan $ 160 , 000 $ 116,800 116,800 _ Cottage D istrict - - 1 1 Boy nton Beach Blv - $226 $226, 11, 1 - 108,410 1, 20 7 RENT EXPENSE - Police Base on MLK - - - 1, 11, 1 L 1 1, 1, - 1, non 1 , Notes- Increase due primarily to addition o g District inl nin ng and increase in Surveys /Appraisals n design services for new projects and addition of funds to Boynton c Boulevard design prof . Approved Board M ling 10/13/2015 for Ponce base of operations on MLK Blvd. Reallocated from Property Purchases 2 RESPONSE TO QUESTION 67 Ilk mLo N w E Hr - RA CRA BOARD MEETING OF: L I Consent Agenda IX I Old Business I I New Business I l I I InforrmtIon On=ly AGENDA ITEM: .® SUBJECT.- Consideration for Lease between the CRA and DJV Development for 404 E. Martin Luther King, Jr- Blvd. Unit A in the amount of $12,000 for a Three Year Term. SUMMARY: At the September 8, 2015 CRA Board meeting, the Board approved en ring into a lease with DJV Development for comrnercial space at 404 E. Martin Luther King, Jr. Blvd. Unit C for use fort Community Policing Program. At the time the CRA was looking at the building, Unit A was not available because the owner was in lea ge negotiations with a potential tenant (Sao Aflachnant 1). However, when staff conducted a walk-through with the leasing agent for the property, staff was informed that the lease negotiations had ended on Unit A. Unit A is better suited fort Community Policing Program due to its existing layout and office styled improvements. As a previous restaurant, Unit C will need substantial work to make it usable for the Policing Program (See Aftechnnnt 2) and no longer being recommended. The owner was asking $1,200 a month for Unit A but accepted the CRNs oft-ir of $1,000 per month with a base rent escalation of $100 per month upon each annual renewal oft lease, i.e. $1,000 per month in year 1; $1,1 per month in year 2; and $1,200 per month in year 3 (See Attachment 3). Under the proposed lease Water, sewer and real estate taxes are included in the monthly rent. The lease has been reviewed by legal. FISCAL IMPACT: Year 1 of $12,000 budgeted in FY 15-16 line hem 02-58200-401. C RA PLAN, PROGRAM OR PROJECT: Heart of Boynton Beach Community Redevelopment Plan Update RECOMMENDATIONS: Approve the execution of the lease for 404 E. MILK Blvd. Unit A between DJV Development and the CRA fbr a term of three years. V L. Brooks Executive Director TWENDAS. CONSENT AGENDAS, MONTHLY REPORTS%Completed Agenda ftrn Request Fonris by Memel ne;T-Y 2015 - 2010 Board Lie BlingsOckber 20151Lease MLKAocx ATrACHMENT I E. Martin Luther King, Jr. Blvd. � r 1 9 rr �• F 9 I i I If S M I i ATTACHMENT 2 susi �, New It S` s� t i i I �l I I I r _ 4 s 1 F 1 I I ` t 4 �2 i f Old Unit - C , ATTACHMENT 3 ROBERT B. BANTING, PRINIDuN'T PAUL H. SNO READ Op S 97 AND Ak CAJQQ IN& *Reaftors sssss 521 SOUTH OLIVE AWINUE WEST PALM MACH, FLORIDA 33401-5907 wwww Telephone (56)) 833-1661 Fax (551)$33 -0234 -Augmt 27, 2015 aza&# SAWOO S&W 191K7 Sharon Grcevic, Realtor Boynton Beach Realty C/O DN Developmcn4 LLC 2203 Avenue X Brooklyn, NY 11235 RE: Proposed Lease by and between DJV Development, LLC (Landlord) and Professional Use and/or assigns (Lessee) pertaining to 404 East Martin Luther 10ng Boulevard, Boynton Beach, Florida ("Property"). Dear Sharon: r® DJV Development, LLC Lessee. Professional Use and/or assigns Property: 404 East Martin Luther King Boulevard, Unit # BeacI4 Fl. Unit size is approximately 1,000 Square feet. Lease Jlrke. $1,DO0 /Month, plus Florida sales tax. Lease ® Five (5) year base term with one (1) 5 years options to renew. Base rent escalations am 3% per yew. DqWsk Monin. Lessee shall pay First month rent Last rnonth rent and Security Deposit at Execution of Lease. Rent Commencement: Rent commencement date shall begin on November 1, 2015. The tenant shall receive one (1) inonth fte rent/October 2015, Parking. Street parking available, possibly some on-site in future. Access. Lessee shall be provided fall access to the Property, at their own risk during the Free Rent Period for the purpose of conducting all and necessary improvements to space. However, access shall be done during nonnal business houm with reasonable notice. Intended ® Lessee is leasing the subject property for futwe use as a Profession use. siffnage. Signage is the sole responsibility of the Tenant and subject too 's approval. City regulalions do apply. Sharon vic, Realtor Boynton e Realty August 27, 2015 Page 2 L , of Property ' ' is i leased in "AS-IS, -IS" condition, Brokers: Both parties agree that the only brokers involved in this transaction o , Inc. and Boynton Beach Realty who are acting as a Transaction r and will be compensated 1 in a separate document. The compensation is 6 of th e base rent fbr the initial e of Th e offer contained in i of Intent sliall expire d be of no ce and effect should for fail to accept by executing a copy of this Letter of Intent and returning it to Lessees representative, Paul Snitkin of Anderson Inc., by the close of business at 5:00 p.m. EST, on September 3, 2015. This letter constitutes u no -b` in of Intent. It sets forth our preliminary understanding of certain of the principal s and conditions of e proposed transadions. Other terms and conditions to be resolved in of t" the Lease, as set forth the following the execution of the Lease is `lion precedent to the creation of any binding agreement or legal obligafion between Lessor and Lessee. Except as set forth in the Ilo 'n nothing 'n this of Intent will create my legally binding obligation on Lessor or Lessee, whether under this r or otherwise, i I i out limitation any du to continue negotiations to reach a written, "definitive Lease or to negotiate in good faith. Ei r party may discontinue ti at any time for any reason. Should the terms of is Letter of l have the appropriata authorized indMdual(s) a acceptance by initialing h page. and affixing their signature to point the Lessor shafl proceed with the drafting oft the Lease. ACKNOWLEDGED AND ACCEPTED (Lessor, JV Development, LLC): lwy David Thause ACKNOWLEDGED AND ACCEPTED (Lessee, Professional Use, T )o By: TBA, Director bate COMMERCIAL LEASE AGREEMEA NT THIS LEASE AGREEMENT is made and entered into on October 1, 2015, by and between DJV Development, LLC, whose address is 2203 Avenue X Brooklyn, NY 11235, (hereinafter referred to as "Landlord"), and Boynton each Community Redevelopment Agency, whose address is 710 No Federal I l i ghway, Boynton Beach, FL 33435, (hereinafter referred to as "Tenant"). ARTICLE I - GRANT OF LEASE Landlord, in consideration of the rents to be paid and the covenants and agreements to be performed and observed by the Tenant, does hereby lease to the Tenant and the Tenant does hereby lease and take from the Landlord the property described as 404 E. Martin Luther King, Jr. Blvd. Unit A (the "Leased Premises"), together with, as pan Of the parcel, all improvements located thereon. ARTICLE 11 - LEAST TERM Section 1. Total Term of Lease. The term of this Lease shall begin on the commencement date, October 1, 2015 as defined in Section 2 of this Article 11, and all terminate on September 30, 2018, with one three year option to renew. Base rent escalations of $1 00.00 per month each anniversary year. Water and sewer are included in rental rate. One of free rent October 2015. Section 2. Commenceincnt Date, The "Commencement Date" shall be October 1, 2015. ARTICLI- III - EXTENSIONS The parties hereto may elect to extend this Agreement upon such terms and conditions as may be agreed upon in writing and signed by the parties at the time of any such extension. AR'na.F., IV - DrTERMINATION OF RENT The 'tenant agrees to pay the Landlord rind the Landlord agrees to accept, during the term hereof, at such place as the Landlord shall from tune to time direct by notice to the Tenant, rent at the following rates and times: Section 1. Annual Rent. Anneal rent for the term of the Lease shall be Twelve Thousand Dollars ($12,000.00). Section 2. Payment of Yenrly Rent. The annual rent shall be payable in advance in equal monthly installments of one-twelfth (1/12th) of the total yearly rent, which shall be One 'Mousand 0 0/ 1 00 ($1,000.00), on the first day of each and every calendar month during the term hereof, and prorate for the fractional portion of any month, except that on the first day of the calendar month immediately Following the Commencemrnt Date, the Tenant shall also pay to the Landlord rent at the said rate for any portion of the preceding calendar month included in the to of this Lease, OZNWA11.7 Page I of 19 Reference to yearly rent hereunder shall not be implied or construed to the effect that this Lease or the obligation to pay rent hereunder is from year to year, or for any term shorter than the existing Lease term, plus any extensions as may be agreed upon. A late fee in the amount of One Hundred Dollars ($100.00) shall be assessed if Oayment is not postmarked or received by Landlord on or before the tenth day of each month, ARTICI.F V - SECURITY DEPOSIT The Tenant has deposited with the Landlord the sum of One Thousand Dollars ($1,000.00) as security for the full and faithful performance by the Tenant of all the terrns of this lease required to be performed by the Tenant. Such sum shall be returned to the Tenant after the expiration of this lease, provided the Tenant has fully and faithfully carried out all of its terms. In the event of it bona fide sale of the property of which the [eased premises are a part, the Landlord shall have the right to transfer the security to the purchaser to be held under the terms of this lease, and the Landlord shall he released from all liability for the return of such security to the Tenant. ARTICLE VI —TAXES Section 1. Personal Property Taxes. The Tenant shall be liable for all taxes levied against any &D leasehold interest of the Tenant or personal property and trade fixtures owned or placed by the Tenant in the Leased Premises. Section 2. Florida State Sales Tax. "Thep vailing Florida State Sales Tax shall be applicable to the annual lease amount and payable by the Tenant. Section 4. Payment of Ordinary Assessments. The Tenant shall pay all assessments. ordinary and extraordinary, attributable to or against the Leased Premises not later than twenty-one (21) days after the day on which the same be carne initially due. The Tenant may to the benefit of any law allowing assessments to be paid in installments and in such event the Tenant shall only be liable for starch installments of assessments due during the term hereof, ARTICLE V11 - CONSTRUCTION AND COMPLETION Section 1. Improvements by TENANT. Tenant may have prepared plans and specifications for the construction of improvements, and, if so, such plans and specifications are attached hereto as Exhibit "B" and incorporated herein by reference. Tenant shall obtain all certificates, permits, licenses and other authorizations of governmental bodies or authorities which are necessary to perinit the construction of the improvements on the demised premises and shall keep the same in full force and of at Tenant's cost. Tenant shall negotiate, let and supervise all contracts for the furnishing of services, labor, and materials for the construction of the improvements on the dernised premises at its cost. All such contracts shall require the contracting party to guarantee performance and all workmanship and materials installed by it for a period of one year following the date of completion of cons 'coon. Tenant shall use all contracts to be fully and completely performed in a good and workmanlike manner, all to the effect that the improvements shall be fully and completely constructed and installed in accordance with good engineering and construction practice. M Page 2 of 19 During the course of construction, Tenant shall, at its cost, keep in &I force and effect a policy of builder's risk and liability insurance in a sum equal, from time to time, to throe times the amount expended for construction of the improvements. All risk of loss or damage to the improvements during the course of construction shall be on Tenant with the proceeds from insurance thereon payable to Landlord. Upon completion of construction, Tenant shall, at its cost, obtain an occupancy permit and an other permits or licenses necessary for the occupancy of the improvements and the operation of the sane as set out herein and shall keep the same in force. Nothing herein shall alter the intent of the parties that Tenant shall be fully and completely responsible for all aspects pertaining to the construction or the improvements of the demised prernises and for the payment of all costs associated therewith, Landlord shall be under no duty to investigate or verify Tenant's compliance with the provision herein. Moreover, neither Tenant nor any third party may construe the permission granted Tenant hereunder to create any responsibility on the part of the Landlord to pay for any improvements, alterations or repairs occasioned by the Tenant. The Tenant shall keep the property frec and clear of all liens and, should the Tenant fail to do so, or to have any liens removed from the property within fourteen (14) days of notification to do so by the Landlord , in addition to all other remedies available to the Landlord , the Tenant shall indemnify and hold the Landlord harmless for all costs and expenses, including attorney's fees, occasioned by the Landlord in having said lien removed from the property; and, such costs and expenses shall be billed to the Tenant monthly and shall be payable by the Tenant with that month's regular monthly rental as additional reimbursable expenses to the Landlord by the Tenant. Section 2. Utititics. Latidlord shall pay f .or all water, sanitation, and sewer, Tenant shall pay for all electricity, light, beat, gas, power, fuel, janitorial, and other services incident to Tenant's use of the Leased Premises, whether or not the cost thereof be a charge or imposition against the Leased Premises. ARTICLE VIII - OBLIGATIONS FOR REPAIRS Section 1. LANDLORD'S Repairs. Subject to any provisions herein to the contrary, and except for maintenance or replacement necessitated as the result of the act or omission of sub lessees, licensees or contractors, the Landlord shall be required to repair only defects, deficiencies', deviations or failures of materials or workmanship in the building. The Landlord shall keep the Leased Premises free of such defects, deficiencies, deviations or failures during the term of this Lease and any extension thereof, Section 2. TENANTS Repairs. The Tenant shall repair and maintain the Leased Premises in good order and condition, except for reasonable wear and tear, the repairs required of Landlord pursuant hereto, and maintenance or replacement necessitated as the result of the act or omission or negligence of the Landlord, its employees, agents, or contractors, Section 3. Requirements of the Law. The Tenant agrees that if any federal, state or mun i c ip a l government or any department or division thereof shall condemn the Leased Premises or any part (hereof as not in conformity with the laws and regulations relating to the construction thereof as of the commencement date with respW to conditions latent or otherwise which existed on the 60"9449-2 Page 3 of 19 Commencement Date, or, with respect to items which are the Landlord's duty to repair pursuant to Section I and 3 of this Article; and such federal, to or municip government or any other department or division thereof, has ordered or required, or shall her order or require, any alterations or repairs thereof or installations and repairs as may ben e ary to comply with suc laws, orders or requirements (the vafidity of which the Tenant shall be entitled to contest); and if by reason or such laws, orders or the work done by the Landlord in connection therewith, the Tenant is deprived of the use of the Leased Premises, the rent shall be abated or adjusted, as the case may bc, in proportion to that time during which, and to that portion oft e Leased Promises of which, the Tenant shall be deprived as a result thereof, and the Landlord shall be obligated to make such repairs, alterations or modifications at Landlord's expense. All such rebuilding; altering, installing and repairing shall be done in accordance with Plans and Specifications approved by the Tenant, which approval shall not be unreasonably withil If, however, such condemnation, law, order or requirement, as in this Article set forth, shall be with respect to an item which shall be the Tenant's obligation to repair pursuant to tion 2 of this Article V11 or with respect to Tenant's own costs and expenses, no abatement or adjustment of rent shall be granted; provided, however, that Tenant shall also be entitled to contest the validity thereof. Section 4. TENANT'S Alterations. The Tenant shall have the right, at its sole expense, from time to time, to redecorate the Leased Premises and to make such non-structural alterations and changes in such parts thereof as the Tenant shall deem expedient or necessary for its purposes; provided, however, that such alterations and changes shall neither impair the stxuctural soundness nor diminish the value of the Leased Premises. The Tenant may make structural alterations and additions to the Leased Promises provided that Tenant has first obtained the consent thereto of the Landlord in writing. The Landlord agrees that it shall not withhold such consent unreasonably. The Landlord shall -execute and deliver upon the request of the Tenant such instrument or instruments embodying the approval of the Landlord which may be required by the public or quasi public authority for the purpose of obtaini any licenses or permits for the making of such alterations, changes and/or installations in, to or upon the Leased Premises and the Tenant agrees to pay for such licenses or permits, Section 5. Permits and Expenses. Each party agrees that it will procure all necessary permits for making any repairs, alterations, or other improvements for installations, when applicable. D Party hereto shall give written notice to the other party of any repairs required of the other pursuant to the provisions of this Article and the party responsible for said repairs agrees promptly to commence such repairs and to prosecute the same to completion diligently, subject, however, to the delays occasioned by events beyond the control of such party. Each party agrees to Pay Promptly when due the entire cost of any work done by it upon the Leased Premises so that the Leased Premises at all times shall be free of liens for labor and materials. Each party further agrees to hold harmless and indemnify the other party from and against any and all injury, loss, claims or damage to any person or property occasioned by or arising out of the doing of any such work by such Party Or its employres, agents or contractors. Each party further agrees that in doing such work that it will employ materials of good quality and comply with all governmental requirements, and perform such work in a good and workmanlike manner. 66$5914912 Page 4 or 19 61111�1 ARTICLE IX - TENANT'S COVENANTS Section 1. T Covenants. Tenant covenants and agrees as follows: a. To procure any licenses and permits require d for any use made of the Leased Premises by Tenant, and upon the expiration or ten of this Lease, to remove its goods and effects and those of all persons claiming under it, and to yield up peaceably to Landlord the Lcased Premises in good order, repair and condition in all respects; excepting only darns by fire and casualty covered by Tenant's insurance coverage, structural repairs (unim Tenant is obligated to make such repairs hereunder) and reasonable we and tear; b, To permit Landlord and its agents to examine the Leased Premises at reasonable times and to show the Leased Premises to prospective purchasers of the Building and to provide Landlord, if not already available, with a set of keys for the purpose of said examination, provided that Landlord shall not thereby unreasonably interfere with the conduct of Tenant's business; C. To permit Landlord to enter the Leased Premises to inspect such repairs, improvements, alterations or additions thereto as may be required under the provisions of this Lease. if, as a result of such repairs, improvements, alterations, or additions, Tenant is deprived of the use of the Leased Premises, the rent shall be abated or adjusted, as the case may be, in proporflon to that time during which, and to that portion of the Leased Promises of which, Tenant shall be deprived as a result thereof. ARTICLE X - INDEMNITY BY TENANT Section 1. Indemnity and Public Liability. The Tenant shall save Landlord harmless and indemnify Landlord from all injury, loss, claims or darnage to any person or property while on the Leased Premises, unless caused by the willful acts or omissions or gross negligence of Landlord, its employees, agents, licensees or contractors. Tenant shall maintain, with respect to the Leased Premises, public liability insurance with limits of not less than one million dollars for injury or death from one accident and $250,000.00 property damage insurance, insuring Landlord and Tenant against injury to persons or Llama to property on or about the Leased Premises. A copy of the policy or a certificate of insurance shall be delivered to Landlord on or before the commencement date and no Such policy shall be cancollable without ten (10) days prior written notice to Landlord. ARTICLE XI - USE OF PROPERTY BY TENANT Section 1. Use. The Leased Premises may be occupied and used by Tenant for any lawful purpose in betterment of the community. Nothing herein shall give Tenant the right to use the property for any other purpose or to sublease, assign, or license the use of the property to any sub lessee, assignee, or licensee, which or who shall use the property for any other use. ARTICLE X11 - SIGNAGE oomt--? 4 Page 5 of 19 t Section 1. Exterior Si is. Tenant shall have the right, at its sole risk and expenso and in cOnf with applicable Jaws and ordinances, to erect and thereafter, to repair Or replace, if it shall so elect signs on any pcnlion of the Leased Premises, providing that Tenant shall remove any such signs upon termination of this lease, and repair all damage, occasioned thereby to the Leased Premises, Section 2. Interior Signs. Tenant shall have the right, at its sole risk and expense and in conformity with applicable laws and ordinances, to erect, maintain, place and install its usual and customary signsand fixtures in the interior of the Leased Premises. AwrlCLE X111 - INSURANCE Section 1. Insurance Proceeds. In the event of any damage to or destructio of the Leased Premises, Tenant shall adjust the loss and settle all claims with the insurance companies issuing such policies. The parties hereto do irrevocably assign the prom sucnsurance polici for roceeds f h i es i the purposes hereinafter stated to any institutional first mortgagee or to Landlord and Tenant jointly, if no institutional first mortgagee then holds an interest in the Unsed Premi=. All proceeds of said insurance shall be paid into a trust fund Linder the control of any institutional first mortgagee, or of Landlord and Tenant if no institutional first mortgagee then holds an interest in the Leased Premises, for repair, restoration, rebuilding or replacement or any combination thereof, of the Leased Premises or of the improvements in the Leased Premises. In case of such damage or destruction, Landlord shall be entitled to make withdrawals from such trust fund, from time to time, upon presentation of: a. bills for labor and materials expended in repair, restoration, rebuilding or replacement, or any combination thereof; b. Landlord's sworn statement That such labor and materials for which payment is being made have been furnished or delivered on site; and c. the certificate of a supervising architect (selected by Landlord and Tenant and approved by an institutional first mortgagee, if any, whose fees will be paid out of said insurance proceeds) certifying that the work being paid for has been completed in accordance with the Plans and Specifications Previously approved by Landlord, Tenant and any institutional first mortgagee in a rjrst class, good and workmanlike manner and in accordance with all pertinent governmental requirements. Any insurance proceeds ill excess Of such proceeds as shall be necessary for such rcPair, restoration, rebuilding, replacement or any combination thereof shall be the sole prop edy of Landlord subject to any rights therein of Landlord's mortgagee, and if the proceeds necessary for such repair, restoration. rebuilding or replacement, or any combination thereof shall be inadequate to pay the cost thereof, Tenant shall suffer the deficiency. Section 2. Subrogation. Landlord and Tenant hereby release each other, to the extent of the insurance coverage provided hereunder, from any and all liability or responsibility (to the other or anyone claiming through or under the other by way of subrogation or otherwise) for any loss to or damage of property covered by the fire and extended coverage insurance policies insuring QM�U<M A Page 6 of 19 the Leased Premises and any of Tenant's property, even if such loss or damage shall have been caused by the fault or negligence of the other party. Section 3. Contribution, Tenant shall reimburse Landlord for all insurance premiums connected with or applicable to the Leased Premises for whatever insurance policy the Landlord, at its sole and exclusive option, should select. ARTICLE XIV - DAMAGE TO DEMISED PREMISES Section 1. Abatement or Adjustment of Rent. If the whole or any part of the Leased Pre is shall be damaged or destroyed by fire or other casualty after the execution of this Lease and before the termination hereof, then in every case the rent reserved in Article IV herein and other charges, if any, shall be abated or adjusted, as the case may be, in proportion to that portion o f the Leased Premises oFwhich Tenant shall be deprived on account of such damage or destruction and the work of repair, restoration, rebuilding, or replacement or any combination thereof, of the improvements so damaged or destroyed, shall in no way be construed by any person to effect any reduction of sums or proceeds payable under any rent insurance policy. Section 2. Repairs and Restoration. Landlord agrees that in the event of the damage or destruction of the Leased Premises, Landlord forthwith shall proceed to repair, restore, replace or rebuild the Leased Premises (excluding Tenant's leasehold improvements), to substantially th condition in which the same were immediately prior to such damage or destruction. The Landlord thereafter shall diligently prosecute said work to completion without delay or interruption except for events beyond the reasonable control of Landlord. Notwithstanding the foregoing, if Landlord does not either obtain a building permit within ninety (90) days of the date of such damage or destruction, or complete such repairs, rebuilding or restoration and comply with conditions (a), (b) and (c) in Section I of Article XIII within nine (9) months of such dam age or destruction, then Tenant may at any time thereafter cancel and terminate th is Lease by sending ninety (90) days written notice thereof to Landlord, or, in the alternative, Tenant may, during said ninety (90) day period, apply for the same and Landlord shall cooperate with Tenant in Tenant's application. Notwithstanding the foregoing, if such damage or destruction shall occur during the last year of the term of this Lease, or during any renewal term, and shall amount to twenty-five (25%) percent or more of the replacement cost, (exclusive of the land and foundations), this Lease, except as hereinafter provided in Section 3 of Article XV, may b terminated at the election of either Landlord or Tenant, provided that notice of such elteti on. shall be sent by the party so electing to the other within thirty (30) days after the occurrence of such damage or destruction. Upon termination, as aforesaid, by either party hereto, this Lease and the term thereof small cease and come to an end, any unearned rent or other charges paid in advance by Tenant shall be refunded to Tenant, and the parties shall be released hereunder, each to the other, from all liability and obligations hereunder thereafter arising. ARTICLE XV - CONDEMNATION Section I - Total Taking, If, after the execution of this Lease and prior to the expiration of the term hereof, the whole of the Leased Premises shall be taken under power of eminent domain by any public, or private authority, or conveyed by Landlord to said authority in lieu of such taking, then this Lease and the to hereof shall cease and terminate as of the date when possession of A zip Page 7 of 19 i� the Leased Premises shall be taken by the taking authority and any unearned rent or other charges, if any, paid in advance, shall be refunded to Tenant. Section 2, Partial Taking. If, after the execution of this Lease and prior to the expiration of the term hereof, any public or private authority shall, under the power of eminent domain, take, or Landlord shall convey to said authority in lieu of such taking, property which results in a reduction by fifteen (I S° /®) percent or more of the area in the Leased Premises, or of a portion of the Leased Premises that substantially interrupts or substantially obstructs the conducting of business on the Leased Premises; then Tenant may, at its election, terminate this Le me by giving Landlord notice or the exercise of Tenant's election within thirty (30) days after Tenant shall receive notice of such taking. In the event of termination by Tenant under the provisions of Section I of this Article ACV, this Lease and the term hereof shall cease and terminate as of the date when possession shall be taken by the appropriate authority of that portion of the Entire Property that results in one of the above takings, and any unearned rent or other charges, if any, paid in advance by Tenant shall be refunded to Tenant. Section 3. Restoration. In the event of a taking in respect of which Tenant shall not have the right to elect to terminate this [.ease or, having such right, shall not elect to terminate this Lease, this Lease and the term they shall continue in full force and effect and Landlord , at Landlord's sole cost and expense, forthwith shall restore the remaining portions of the Leased Premises, including any and all improvements made theretofore to an architectural whole in substantially the same condition that the some were in prior to such taking, A just proportion of the rent reserved herein and any other charges payable by Tenant hereunder, according to the nature and extent of the injury to the Leased Promises and to Tenant's business, shall be suspended or abated until the completion of such restoration and thereafter the rent and any other charges shall be reduced in proportion to the square footage of the Leased Premises remaining after such taking. Section 4. The Award. All compensation awarded for any taking, whether for the whole or a portion of the Leased Premises, shall be the sole property of the Landlord whether such compensation shall be awarded for diminution in the value of, or loss of, the leasehold or for diminution in the value of, or loss of, the pee in the Leased Premises, or otherwise. The Tenant hereby assigns to Landlord all of Tenant's right and title to and interest in any and all such compensation. However, the Landlord shall not be entitled to and Tenant shall have the sole right to make its independent claim for and retain any portion of any award made by the appropriating authority directly to Tenant for loss of business, or damage to or depreciation of, and cost of removal or fixtures, personalty and improvements installed in the Leased Premises by, of at the expense of Tenant, and to any other award made by the appropriating authority directly to Tenant. Section 5, Release. In the event of any termination of this Lease as the result of the provisions of this Article XV, the parties, effective as of such termination, shall be released, each to the other, from all liability and obligations thereafter arising under this lease. ARTICLF, XVI - DEFAULT Section 1. LANDLORD'S Remedies. In the event that: Page a Of 19 x. Tenant shall on three or More occasions be in default in the Payment of rent or other charges herein required to be paid by Tenant (default herein being defined as payment received by Landlord ten or more days subsequent to the due date), regardless of whether or not such default has occurred on consecutive or non-consecutive months; or b. Tenant has caused a lien to be filed against the Landlord's property and said licui is not removed within thirty (30) days of recordation thereof, or c. Tenant shall default in the observance or performance of any of the covenants and agreements required to be performed and observed by Tenant hereunder for a period of thirty (30) days after notice to Tenant in writing of such default or if such default shall reasonably take more than thirty (30) days to cure, To ant shall not have commenced the same within the thirty (30) days and diligently prosecuted the same to com or d- Sixty (60) days have elapsed after the commencement of any proceeding by or against Tenant, whether by the filing of H petition or otherwise, seeking any reorganization, arrangement, composition, readjustment. liquidation, dissolution or similar relief under the present or future, Federal Bankruptcy Act or any other present or future applicable federal, state or other statute or law, whereby such proceeding shall not have been dismissed (provided, however, that the non- dismissal of any such proceeding shall not be a default hereunder so long as all of Tenant's covenants and obligations hereunder are being performed by or on behalf or Tenant); then Landlord shall be entitled to its election (unless Tenant shall cure such default prior to such election), to exercise concurrently or successively, any one or more of the following rights: 1. Terminate this Lease by giving Tenant notice of termination, in which event this Lease shall expire and terminate on the date specified in such notice of termination, with the same force a d effect as though the date so specified were the date, herein originally fixed as the termination date of the term DI' this Lease, and all rights of Tenant under this Lease and in and to the Premises shall expire and terminate, and Tenant shall rcmain liable for all obligations under this Lease arising up to the date 01'such termination, and Tenant shall surrender the Premises to Landlord on the date specified in such notice; or fl. Terminate this Lease as provided herein and recover from Tenant all damages Landlord may incur by reason of Tenant's default, including, without limitation, a sum which, at the date of such termination, represents the then value of the excess, if any, of (a) the Minimum Rent, Percentage Rent, Taxes and all other suins which would have been payable hereunder by Tenant for the period commencing with the day following the date of such termination and ending with the date herein before set for the expiration of the filli term hereby granted, over (b) the aggregate reasonable rental value of the Premises for the same period, all of which excess sum shall bed ed immediately due and payable, or iii. Without terminating this Lease, declare immediately due and payable all Minimum Rent, Taxes, and other rents and Mounts due and coming due under this Lease for the entire remaining terra hereof, together with all other amounts previously due, at once; provided, however, that such payment shall not be deemed a penalty or liquidated damages but shall merely constitute payment in advance of rent for the remainder of said term. Upon making such payment, Tenant shall be entitled to receive rrorn Landlord all rents received by Landlord from other assigrices, tenants, and subtenants; on account of said Premises during the term of this osssaa Page 9 of 19 Lease, provided that the monies to which tenant shall so become entitled shall in no event exceed the entire amount actually paid by Tenant to Landlord pursuant to the preceding sentence less all costs, expenses and attorney's fees of Landlord incurred in connection with the reletting of the Premises; or iv. Without terminating this Lease, and with or without notice to Tenant, Landlord may in its own name but as agent for Tenant enter into and upon and take possession fth or y , and, at landlord's option, remove persons and property therefrom, and such part thereof 0 e Premises an Property, if any, may be removed and stored in a warehouse or elsewhere at the cost of, and for the account of Tenant, all without being deemed guilty of trespass or becoming liable for any loss or damage which may be occasioned thereby, and Landlord may rent the Promises or any portion thereof as the agent of Tenant with or without advertisement, and by private negotiations and for any term upon such terms and conditions as Landlord may deem necessary or desirable in order to relet the Premises. Landlord shall in no way be responsible or liable for any rent concessions or any failure to rent the Premises or any pelt thereof, or for any failure to collect any rent due upon such reletting. Upon such reletting, all rentals received by Landlord from such reletting shall be applied: First, to the payment of any indebtedness (other than any rent due hereunder) from Tenant to Landlord; second, to the Payment of any costs and expenses of such reletting, including, without limitation, brokerage fees and attorney's fees and costs of alterations and repairs; third, to the payment of rent and other charges then due and unpaid hereunder; and the residue, if any shall be held by Landlord to the extent of and for application in p aymen t o f fluture rent as the same may become due and payable hereunder. In reletting the Premises as aforesaid, Landlord may grant rent concessions and Tenant shall not be credited therefor. Irsuch rentals received from such reletting shall at any time or from time to time be less than sufficient to pay to Landlord the entire sums then due from Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall, at Landlord's option, be calculated and paid monthly. No such reletting shall be construed as an election by Landlord to terminate this Lease unless a written notice of such election has been given to Tenant by Landlord. Notwithstanding any such reletting without ten Landlord may at any time thereafter elect to terminate this Lease for any such Previous default provided same has not been cured; or Y. Without liability to Tenant or any other party and without constit a constructive or actual eviction, suspend or discontinue furnishing or rendering to Tenant any property, material, labor, Utilities or other service, whether Landlord is obligated to furnish or render the same, so long as Tenant is in default under this Lease, or vi. Allow the Pre t rema unoccupied and collect rent from Tenant as it comes due; or vii. Foreclose the security interest described herein, including the immediate taking of p ossess i on of all property on or in the Premise or viii. Pursue such other remedies as are available at law or eq e. Landlord's pursuit of any remedy of remedies, including without limitation, a o of the re f remedies 0 medies stated herein shall not (1) constitute an election re any one or MO re or preclude pursuit of any other remedy or remedies provided in this Lease or any other remedy or remedies provided by law or in equity, separately or concurrently or in any combination, or (2) sever as Page 10 of 19 the basis for any cl or constructive eviction, or allow Te to withhold any paym under this Lease, Section 2. LANDLORD'S Self H 117 in the performance or observance of any agreement or condition in this Lease contained on its part to be performed or observed and shall not cure suc default within thirty (30) days after notice from Landlord SPOcifying the default (or if such default shall reasonably take more than thirty (30) days to cure, shall diligently prosecuted the .same to completion), Landlord may, at it option, without waiving any claim f o r d amages for breach of agreement, at any time thereafter cure such default for the account Of Tenant, and any amount paid or contractual liability incurred by Landlord in so doing shall be deemed paid or incurred for the account of Ten and Tenant agrees to reimburse Landlord therefore and save Landlord harmless therckom. Provided, however, that Landlord may cure any such default as aforesaid prior to the expiration of said waiting period, without notice to Tenant if any emergency situation exists, or after notice to Tenant, if the curing of such default prior to the expiratioii of said waiting period is reasonably necessary t protect the Leased Premises or Landlord's interest therein, or to prevent injury or damage to persons or property. If Tenant shall fail to reimburse Landlord upon demand for ally amount paid for the out of Tenant hereunder, said arnouni shall be added to and become due as a part of the next payment of rent due and shall for all purposes be deemed and treated as rent hereunder. Section 3. TENANT'S Self Help. If Landlord shall default in the performance or observance of any agrccment or condition in this Lease contained on its part to be performed or observed, and if Landlord shall not cure such default within thirty (30) days after notice from Tenant specifying the default (or, if such default shall reasonably take more than thirty (30) days to cure, and Landlord shall not have commenced the same within the thirty (30) days and diligently prosecuted the same to completion), Tenant may, at its option, without waiving any claim for damages for breach of agreement, at ally time thereafter cure such default for the account f Landlord and any amount paid or any contractual ctual liability incurred by Tenant in so doing shall e 0 or the account of Landlord and Landlord shall reimburse Tenant pa b deemed id or incurred f therefor and save Tenant harmless therefrom. Provided, however, that Tenant may cure, any such default as aforesaid Prior 10 the expiration of said waiting riod, without notice to dlord f or after notice to Landlord, if the curing of such default prior to an emergency situation exists . Pe Lan i the expiration of said waiting period is reasonably necessary to protect the Leased Premises or ']'Client's interest therei or to prevent injury or damage to persons or property. If Landlord s fail to reimburse Tenant upon demand for any amount paid or liability incurred for the account o f Landlord hereunder, said amount or liability may be deducted by Tenant f r o m t h e n ext or any succeeding payments of rent due hereunder; provided, however, that should said amount or the liability therefor be disputed by Landlord, Landlord may co it liability or the arnount thereof, through arbitration or through a declaratory judgment actio and Landlord shall be the cost of the riling fees therefore. Should Tenant be required to enforce the Provisions of this Lease and prevail in any action in furtherance thereof it shall be entitled to the reimbursement of all costs., expenses and attorney's fees associated with said action. ARTICLE XVII - TITLE Section I. Subordination. Tenam shall, u the request of Landlord i writing, subordinate this Lease to the lien of any pres or future institutional mortgage upon the Leased Premises irrespective of the time of execution or the time of recording or any such mortgage. Provided, Page 11 of 19 P however, that as a condition to such subordination, the holder of any such ITIOrtgag Cshall e e first into a written agreement with Tenant in fol suitable for recording to the effect that: a. in the event Of foreclosure Or other action taken under the mortgage by the holder thereof, thi Lease and the rights of Tenant hereunder shall not be disturbed but shall continue in full f orce And effect so long as Tenant shall not be in default hereunder, and b. such holder shall permit insurance proceeds and condemnation proceeds to be used for any restoration and repair required by the Provisions of Articles X111, XIV or XV, respectively, Tenant agrees that if the mortgagee or any person claiming under the mortgagee shall succeed to the interest of Landlord in this Lease, Tenant will recognize said rnmigagee or person as its Landlord under the terms of this Lease, provided that said mortgagee or person for the period during which said mortgagee or person respectively Shall be in possession of the Leased Promises and thereafter their respective su=ssors in interest shall assume all of the obligations of Landlord hereunder. The word "mortgage", as used herein includes mortgages, deeds of trust or other similar instruments, and modifications, and extensions thereof. The term "instit mortgage" as used in this Article XVII means a mortgage securing a loan from a bank (commercial or savings) or trust company, insurance company or pension trust or any other lender institutional in nature and constituting a lien upon the Leased Premises, Section 2. Quiet Enjoyment. Landlord covenants and agrees that upon Tenant paying the rent and observing and performing all of the terms, covenants and conditions on Tenant's pan to be observed and performed hereunder, that Tenant may peaceably and quietly have, hold, occupy and enjoy the Leased Premises in accordaric'e with the terms of this Lease without hindrance or molestation from Landlord or any persons lawfully claiming through Landlord. Section 3. Zoning and Good Title. Landlord warrants and represents, upon which warranty and representation 'renani has relied in the execution Of tills Lse, that Landlord is the owner of the Leased Premise in fee simple absolute, free and clear of all encumbrances, except for the easements, covenants and restrictions of record as of the date of this Lease. Such exceptions shall not impede or interfere with the quiet use and enjoyment of the Leased Premises by Tenant. Landlord further warrants and covenants that this Lease is and shall be a first lien on the Leased Premises, subject Only to any Mortgagc to which this Lease is subordinate or may become SUbordinate pursuant to an agreement executed by Tenant, and to such encumbrances as shall be caused by the act or omissions of Tenant; that Landlord has full right and l authority to execute this Lease for the term, in the manner, and upon the conditions and provisions herein contained; that there is no legal impediment to the use of the Leased Premises as set out herein, that the Leased Premises are not subject to any casements, restrictions, zoning ordinances or similar governmental regulations which prevent their use as set out herein; that the Leased Premises presently are zoned for the use contemplated herein and throughout the term of thi least may continue to be so used therefor by virtue of said zoning, under the doctrine of "non- conforming use". or valid and binding decision of appropriate authority, except, however, that said representation and warranty by Landlord shall not be applicable in the event that Tena act or omission shall invalidate the application Of said zoning, the doctrine of "non-conforyning use" or the valid and binding decision of the appropriate authority. Landlord shall furni without expense to Tenant, within thirty (30) days after written request therefor by Tenant, a title W53844912 A Page, 12 of 19 f. f report covering the Leased Premises showing the condition Of title as of the date o such certifi&alc, provided, however, that Landlord's obligation hereunder shall be limited to the furnishing of only one such title report. Section 4. Licenses, ' shall be the t'enant's responsibility to obtain any and all necessary licenses and the Landlord shall bear no responsibility therefor; the Tenant shall promptly notify Landlord of the fact that it has obtained the necessary licenses in order to prevent any delay to Landlord in commencing construction of the Uased Premises. ARTICLE XVIII - EXTENSIONS/WAIVERS/DISPUTES Section 1. Extension Period. Any extension hereof shall be subject to the provisions of Article III hereof, Section 2. Holding Over. In the event that Tenant or anyone claiming under Tenant shall continue occupancy of the Leased Premises after the expiration of the term of this Lease, or any renewal or extension thereof without any agreement in writing between Landlord and Tenant with respect thereto, such occupancy shall not be deemed to extend or renew the term of the Lease, but such occupancy sh continue as a tenancy at will, from month to month, upon the covenants, provisions and conditions herein contained. The rental shall be the rental in eff during the term ol'this Lease as extended or renewed, prorated and payable fbr the period of such occupancy. Section 3. Waivers. Failure of either party to complain of any act or omission on the part of the other party, 110 matter how long the some may continue, shall not be deemed to be a waiver by said party of any of its rights hereunder, No waiver by either party at any time, express or implied, of any breach of any provision of this Lease shall be deemed a waiver of a breach of any other provision of this Lease or a consent to Rny subsequent breach of the same or any other provision. If ally action by either party shall require the consent or approval of the other party, the other party's consent to or approval of such action on any one occasion shall not bed ed a consent to or approval of said action on any subsequent occasion or a consent to or approval of any other action 011 the same or any subsequent occasion. Any and all rights and remedies which either party may have under this Lease or by operation of law, either at law or in equity, upon any breach, shall be distinct, separate and cumulative and shall not be deemed inconsistent with each other, and no one of them, whether exercised by said party or not, shall be deemed to be all exclusion of any other; and any two or more or all of such rights and remedies may be exercised at the same time. Section 4. Dispute-,. It is agreed that, if at any time a dispute shall arise as to any amount or sure of money to be paid by one party to the other under the provisions hereof, the party against whom the obligation to pay the money is asserted shall have the right to make payment "under protest" and such payment shall not be regarded as a voluntary payment and there. shall survive the right on the part of the said party to institute suit for the recovery of such sum. If it sh be adjudged that therr, was no legal obligation on the part of said party to pay such sum or any part thereof, said party shall be entitled to recover such surn or so much thereof as it was not legally required to pay under the provisions of this Lease. If at any time, a dispute shall arise between the parties hereto as to any work to be performed by either of the under the provisions hereof, the party against whom the obligation to perform the work is asserted may perform such work and 01 MN-10-2 Page 13 of" 19 pay the costs thereof' "under protest" and the performance of such work shall in no event be regarded as a voluntary performance and shall Survive the right on the part of the said party to institute suit for the recovery of the costs of such work. If it shall be adjudged that there was no legal obligation on the part of the said party to perform the same or any part thereof, said party shall be entitled to recover the costs of such work or the cost of so much thereof as said party was not legally required to rform under the provisions of this Lease and the amount so paid by Tenant may be withheld or deducted by Tenant from any rents herein reserved. Section 5. TENANTS Right to cure LANDLORD'S Default, In the event that Landlord shall fail, refuse or neglect to pay any mortgages, liens or encumbrances, the judicial sale of which might affect the interest of Tenant hereunder, or shall fail, refuse or neglect to pay any interest due or payable on any such mortgage, lien or encumbrance, Tenant may pay said mortgages, liens or CROLimbranccs, or interest or perform said conditions and charge to Landlord the amount so paid and withhold and deduct from any rents herein reserved such amounts so paid, and any excess over and above the amounts of said rents shall be paid by Landlord to Tenant. Section 6. Notices, All notices and other communications authorized or required hereunder shall be in writing and shall be given by mailing the same by certified mail, return receipt requested, postage prepaid, and any such notice or other communication shall be deemed to have been given when received by the party to whom such notice or other communication shall be addressed. If intended for Landlord the same will be mailed to the address herein above set forth or such other address as Landlord may hereafter designate by notice to Tenant, and if intended for Tenant, the same shall be mailed to Tenant at the address herein above M forth, ors h other address or addresses as Tenant may hereafter designate by notice to Landlord. ARTICLE XfX - PROPERTY DAMAGE Section I. Loss and Damage. Notwithstanding any contrary provisions of this Lease, Landlord shall not he responsible for any loss of or damage to property of Tenant or of others located on the Leased Premises, except where caused by the willful act or omission or negligence of Landlord , or Landlord's agents, employees or contractors, provided, however, that if Tenant shall notify Landlord in writing of repairs which are the responsibility of Landlord under Article VII herp,4. and Landlord shall fail to commence and diligently prosecute to completion said repairs promptly after such notice, and if after [lie giving of such notice and the occurrence of such failure, loss of or damage to Tenant's property shall result from the condition as t which Landlord has been notified, Landlord shall indemnify and hold harmless Tenant from any loss, cost or expense arising therefrom. Section 2, Force Majeure. In the event that Landlord or Tenant shall be delayed or hindered in or prevented fi the performance of any act other than Tenant's obligation to make payments of rent, additional rent, and other charges required hereunder, by reason of strikes, lockouts, unavailability of materials, failure of power, restrictive governmental laws or regulations, riots, insurrections, the act, failure to act, or default of the other party, war or other reason beyond its confAvI, then performance of such act shall be excused for the period of the delay and the period for the performance or such act shall be extended for a period equivalent to the period of such delay. Notwithstanding the foregoing, lack of funds shall not be deemed to be a cause beyond control of either party. Page 14 of 19 ARTICLE XX - MISCELLANEOUS Section 1, Assignment and Subletting, Under the terms and conditions hereunder, Tenant shall have the absolute right to transfer and assign this lease or to sublet all or any portion of the Leased Premises or to cease operating Tenant's business on the Leased Premises provided that at the time of such assignment or sublease Tenant shall not be in default in the performance and observance of the obligations imposed upon Tenant hereunder. Landlord must consent in writing to an such sublessee or assignee, although such consent shall not e unreasonably withh d. y b el The use of the Leased Premises by such assignee or sublessee shall be expressly limited by and to the provisions orthis lease. Section 2. Fixtures. All personal property, furnishings and equipment presently and all other trade fixtures installed in or hereafter by or at the expense of Tenant and all additions and/or improvements, exclusive of structural, inechanical, electrical, and plumbing, affixed to the Leased Premises and used in the operation of the Tenant's business made to, in or on the Leased Premises by and at the expense of Tenant and susceptible of being removed from the Leased Premises without damage, unless such damage be repaired by Tenant, shall remain the property of Tenant and Tenant may, but shall not be obligated to, remove ific same or any part thereof at any time or times during the term hereof, provided that Tenant, at its sole cost and expense, shall make any repairs occasioned by such removal. Section 3. Estoppel Certificates. At any time and from time to time, Landlord and Tenant each agree, upon request in writing from the other, to execute, acknowledge and deliver to the other or to any person designated by the other a statement in writing certifying that the Lease is unmodified and is in full fbrce and effect, or if them have been modifications, that the same is in full force and elfeez as modified (stating the modifications), that the other party is not in defWt in the performance of its covenants hereunder, or if there have been such defaults, specifying the same, and the dates to which the rent and other charges have been paid. Section 4. Invalidity of Particular Provision. If any term or provision of this Lease or the application hereof to any person or circumstance shall, to any extent be held invalid or unenforceable, the remainder of this Lease, or the application of such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each to and provision of this Lease shall be valid and be enforced to the fullest extent permitted by law. Section 5. Captions and Definitions of Parties. The capdo of the Sections of this Lease are for convenience only and are not a part of this Lease and do not in any way limit or amplify the terms and provisions of this Lease. The word "Landlord" and the pronouns referring thereto, shall mean, where the context so admits or requires, the persons, firm or corporation named herein as Landlord or the mortgagee in possession at any time, of the land and building comprising the Leased Premises, If there is more than one Landlord, the covenants of Landlord shall be the joint and several obligations of each of them, and if Landlord is a partnership, the covenants of Landlord shall be the joint and several obligations of each of the partners and the obligations of the firm. Any pronoun shall be read in the singular or plural and in such gender as the context may require. Except as in this Lease otherwise provided, the terms and provisions of this Lease shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Page 1 5 Of 19 Nothing contained herein shall be deemed or construed by the parties hereto nor by any it party as creating the relationship of principal and agent or of partnership or of a joint venture between the parties hereto, it being understood and agreed that neither any provision contained herein, nor any acts of the parties hereto, shall be deemed to create any relationship between the parties hereto other than the relationship of Landlord and Tenant. Section 6. Brokerage. No party has acted as, by or through a broker in the effectuation of this Agreement, except as set out hereinafter. Section 7. Entire Agreement. This instrument contains the entire and only agreement between the parties, and no oral statements or representations or prior written matter not contained in this instrument shall have any force and effect, This Lease shall not be modified in any way except by a writing executed by both parties. Section 8. Governing Law. All matters pertaining to this agreement (including its interpretation, application, validity, performance and breach) in whatever jurisdiction action may be brought, shall be governed by, construed and enforced in accordance with the laws of the State of Florida. T h e p arties herein waive trial by jury and agrec to submit to the personal jurisdiction and venue of a court of subject matter jurisdiction located in Palm each County, State of Florida. In the event that litigation results 1 or arises out of this Agreement or the performance thereof, the parties agree to reimburse the prevailing party's reasonable attorney's fees, court costs, and all other expenses, whether or not taxable by the court as costs, in addition to any other relief to which the prevailing party may be entitled. In such event, no action shall be entertained by said court or any court of competent jurisdiction if filed more than one year subsequent to the date the cause(s) of action actually accrued regardless of whether darns es were otherwise as of said time calculable. Section 9. Contractual Procedures. Unless specifically disallowed by law, should litigation arise hereunder, service of process therefor may be obtained through certified mail, return receipt requested: the parties hereto waiving any and all tights they may have to object to the method by which service was perfected. Section 10. Extraordinary remedies. To the extent cognizable at law, the parties hereto, in the event of breach and in addition to any and all other remedies available thereto, may obtain injunctive relief, regardless of whether the injured party can demonstrate that no adequate remedy exists at law. Section 11. Reliance on Financia[ Statement. Tenant shall furnish concurrently with the execution of this lease, a financial statement of Tenant prepared by an accountant. Tenant, both in corporate capacity, if applicable, and individually, hereby represents and warrants that all the information contained therein is complete, true, and correct. Tenant understands that Landlord is relying upon the accuracy of the information contained therein. Should there be found to exist any inaccuracy within the financial statement which adversely affects Tenant's financial standing, or should Tenanfs financial circumstances materially change, Landlord may demand, as additional Security, an amount equal to an additional two (2) months' rent, which additional security shall be subject to all terms and conditions herein, require a fully executed guaranty by a third party acceptable to Landlord, elect to terminate this Lease, or hold Tenant personally and individually liable hereunder. /--� Page 16 of 19 IN WITNESS WHEREOF, thy; parties hereto have executed this Lease the day and year first above written or have caused this Lease to be executed by their respective officers thmunto duly authorized, Signed, scaled and delivered in the presence of- DJV DEVELOPMENT, LLC 10 NI ,Ls LORD" Jqcicl� MA�f BOYNTON BEACH COMMUNITY REDEVELOPM ENT AGENCY "Tenant" f Chair Witness Jel Page 17 of 19 The following described real property, together with all improvements thereon: which has a street address as follows? Page 18 of 19 E I 1 T 99 " I'F,NAN7'P SPECIRCATIONS Page 19 ib 10 0 0 0 0 FY 2015-2016 Marketing Budget (Project Fund 02-58400-445) FBrand and Proposed op e n nc+n our a c n a+ o en Tagline for a destination brand, theme developm ent,Temlte sheets to use in Development i n house for stationary, promotional merchandise and 3 dimensional for 7, welb, 18, "Catch " n line choices s o p o r s ' s► n o s m c u promo a c or ro e and n 1 Soc° I otions for a rin rc an Promotional l f ! and Economic Dev f r +- en 5 31 Waterway ui e PMERM 172 fRINIS 3ZI IR 111M Mpy a so r 9 r + action to r r ams Custom program blast monthly promotions and marketing blasts 1,200 n + o FORM r , i Marina Design half page ad in Floida Cruising magazine and placement Promotionaf ollate design - e spreau man ly Of local n Boynto Forum tagline 17,00 ' r t l r l .0 ocia me is auto pu sing - r r n Postcard Postcard campaign "Meet Your Nei 2, r r+ Campaign a eting promotions ject- Harbour Master Buil $ 4,5,00 Hotel Touch Screens BD13 ad In P Ad fi rof+ ag ine Downtown Banners P roject, r r Development Event Merch ant, redevelopment marketing & Broker events 15, onclerges Event es n: pp an evening once I four yr am sac as visitors Visi uid Total x 1 =B H RA ADVISORY BOARD CRA ADVISORY BOARD MEETING OF: April 7, 2016 AGENDA ITEM: V. B. Monthly Budget Report Monthly report representing the revenues and expenses for the month ending rc 31, 2016. FISCAL IMPACT: 1 — Information Only PROJECT: CRA PLAN, PROGRAM OR All CRA Plans None Susan i Finance Director L! W ch - m o ol Ln j M Ul ONM 11 N M c- w w m a m r. v 9 0 9 0 t C4 - I T 0; mat C; N d o m 00 ; rq 0 rq I t 1 H M O S C as Ct Ln m rn Ln r- - - N M w M r- Na sdaq rq r- rq 6, 00000040 000000 14 El 1 1 1 m 0 ol 0 m n rA ' [� as 01 1" cq C"* 0 W C, V, 10 ID 0 o m a I OD m ko (m in v m in 1n 0 (q 4D V W cm m -0 cm N CD 0% m0 Iq a 0 w 'i C4 w in eq Ln r- 0 N M r- M w "I l31 C C M ri C C4 im a w m 0 W on C-i -I v m H � I � � � 'D C', cy, C4 C4 O 'D ON C m Il li . O . N . Sn . m . N . M . O . h . a . m . o m a o r-I ko B Ch a 0 M M co in 00 W a r- rq w im Ch N H H OD W �q 0 V N cm cm %D 0 w m El N P3 L) eq N 1 rim am.Pa th - - N H rq N to H — fn 0 0 0 fn 0 M r- an 0 ko 0 0 0 0 p 0 N 00 C4 M Ch o K 0 -Awl- Omoownoc4cmr4c4 erb li co In 0 Ln H W 0 0 %D 0 0 Ln 0 Ui , Fr ell OD Cm 0 V 0 ch 0 r -I W cn C4 .0 .10 ri N W 0 (4 w N a Ln 0.4 r- 1 .0 (n 14 cm N -k N H -# li Hr1 MriO IV A fn (Do 0 0 (q r- kn 0 Ln 0 0 0 0 m 0 0 r4 W r- o m o o W o Cl I- ul Ch 0 oe r-r-NmNovomo" W M C�--; C� H Nmo N w N r- o in o .j X v A -i m ri O I C4 �n 0 rA 0 H > hd m P rQ H Ln o H R E4 z cc H D4 0 Eq M H m E H > U) I m W H 0 H H 14 E-a w P 0 B4 N E4 E. R I 1 0 00 u9 r- 9 C9 99 99 II M 14 cm 0 0 00 00 F O I I o 0 1 m r 00 r a 9 1 � W! 1 � 1 � 1 � 0! C 9 1 � � N Ch m w to r, I ri c4 m 1(1 a r- w .4 w HI C� C� L CNI w r- M fn If1 lfl QD Ln m Ii r 0g NN In cm r 14 Ro 00 0000 0 C, 0 00 0000 00 0 C; C; C; 0 O II Od OMa Ch 00 cc w rM w W Ln Ch r r- M fn W 0 r- N 00 OOHi 00 Mm 99 00 60081 E4 C) )4 b 00 0 0 CD CD 00 II (A M N C4 C4 N H O Infn 0000 00 cc In In 00 0 00 O rl �I C i C� '04, II (nm cooc� 00 00 &I Im 0 0 C) Ch V! LI 00 1 Ui Ch Ch 00 0 a% A ri 00 C2 A Ii M - ! Ch 01 Ill In U LM Ln me w E4 z an r- m t9 m N N N H 0 - , 4 F, 1 v v -4 0 0 H ' 1 . . B E.; m I E. 0 P, 1 8 Eq 0 OC4 z r- N N w cq r- li co (n H a. IV n 01 Ln r- w r- o w r. Ln 0 r. r� r% 9 -! W ! 1 � 1 � L9 .Ka Ln 0 U3 v Ln C4 w 0 w U El 0 (n -0 (" Im fn r- L r- O9 N -00 U3 Ch el d a. O oo 11 000 r-I 0 r- 000 r- C� C; C� L� C; C� C� L� pa C4 N N C � H o% q in In (m 0 cli 2 li m 1 ! 1 9 9 m " Ln w Go rq 4% w H I at 4% .q W r- o 0 u oil 9. cs 0 N 0. 4 N coo cm 000 RP o n o r: C; C; r� CD �q CA C4 w 00 E, I 0 00000 000 0 pq o a Ln o to to 0 U3 0 0 U C4 C pq 0,30"o 0 C, 0 0 Ln a Ln L0 C. Ul a rr ch U i 10 � l i 1 � �, 13 i r- w 0 Ln tm N 0 O z r M H qm H I M , H tj P4 H 'H aa Ln 0 %jD LO r 00 m H a 0 A C N w eq N N C4 I I I I ps p u to o H 0 C, 0 ID 0 W c -1 . c 4 pq �q 'i �q 00 .4 � , 4 Ln Ln I U " , Y 0, I NriM N0 Hrlm mN NO V a 1 m E v m y a o m or rn ri r a eT o ri a a �� Ia ri NH omN w n7 In - oa0® 00 l H In In ri rl rT Wm to I0 0 Ln m 000 m0 NN rI m r1 m00 00 Q N m in Ia0 mrim v a Q6O 0m 90 e a; lfs ri to Io Cl ; Ifs N Ui Ln 01 00 m &7 CJ atow 0in MImv In ITOmom 00 - m us e m o W N aI to m m In CI o o sn ri ri ri Ln N N us H ri m rl ri � v-i 0 0 0 00000 0 0 0 0 0 0 00 I p ® b o a 99,999 0 0 0 a a 0 99 O coo 0 0 0 0 000000 0 0 0 E �U 000 mammal ri r- 0a r 00 to ® mnm ra 0 rl ®Ia ug000a Ia aO W rl o N ri ai M W O a r- v In 0 0 0 0 RI al mN in r- In om v0Ina o rl a t p y m bN IA In O mm m N E -I aLN m•a mw m ca ri ri ri r� E I Ca kvN oo 0a o Havoo In a0 r pI E In rm 00 00In In bOMOO of 00 r ra }I rom InOOmN mmmulo41 00 0 m ya mm m r m rNrm b at w H H m m GIN ri ri ri In m U a Nfn d mom atn o in 000000 00 m mom Om In Om D0 w a1 00 ri N -0 N m N r aI r O In N Ip Vi r 00 m [7 armN r in 0w mNN m N r C', m rl N N N N m om 0 i 0 0 In o 00000 00 m m Om 0m Ln 0m 0010 Plan b0 ri E N ON mNratr bug s-i WN 00 W C mC4 r- Ln 0v mNN C NN n co N N N d ai w m mEia Wm m Q 0 E H W H a H �� aH HH �7 � �Mr H W a s ca H W o P9 " Q HR o-1 M H w In w Ua, a W tpo-7 I Hw H m ' o m an m r a, om Oln® a a ri N N N N rl ri v In m a 8 S ri r u NNNN m rlmMma p1v E I 1 I ® 1 1 1 1 I l I l l m 1 H 4 0 0 g p O a a b O 0,0 ® w O E N Nn� WNNNm � w �77 Mr , m�m rl rl r~ ri .i ri ri E HHri H�r-I �r V E In f9 m rn o 0Ln onm O aIn ul ui In ul® E d I I I E C7 I I I I E M I 1 1 1 E 00 0000 a 0 0 O 0 a m O 0,0 N N a .4 w w 0 r- 0 0 CD 0 V 00 to Y1 0 M 00 a' .IP "'Oo 'a '00 otak oc4momolo moomom 00 rl 99 O o ! 7 9 in 9 9 m li O 9 9 m 99 181 to W mr-WONOW 0 Go 11 mow 00 0 m a r- H m t- 0 0 0 M w0 1-1 Om 00 l i 1� V O w m O m O� (D V W (q 0 In In In N C11 0 M in -1 m Me% 00 0000000 OOOIDOO 00 0 00 0000000 000000 00 0 C; 0 C; C; 0® C; C; 0 O 0 0 C; C; 0 O'C%l 1 0 r a W A 0 0 wON 00 at Ct Q! qc movom O 0 01Ow Oa 0o Ln r- C; C� r4 0; 0; 1� 6 T4 (� C� w %D r- TI T M w kv an (A UD 0 N H OO I -I li N to Lr) (10 0 -0-0 rl C N CD 0 OD N 0 Ll 0 m Ln @0 m0 co 00 N ol wmomom 00 to w w O n o w 0 14 r�: NON C; C; in in M m w to .4 o W w N 0 In U) 74 li N A El > .4 r 000 0 0 0 0 O 0 1, 0 O 00 u7 1r) . . 0 2 . V .0 V 00 0 NN N o Il i 0 BYO o in ll� m r- M C4, Ln Il i C � t9 45 q0 H 0 in co tFt ri -1 w t ri H N 0000000 000000 00 Lr) In MOON - or o 0 0 0 00 %o C! c! 0 Lo W 0 c! Ili m 11 mN In i n H w Eq W [a 6 w 03 to 0 93 w m W 14 co P4 H P El E FA H pq m 0 9 w ca u E p H 10 N I D. M to 114 pq 610 1.4 L) m 1 � 0 C . a I � 1 0 pq in 1 2 .4 g p 8 m m la I m PO 4 N g M 1 � N 0 R o H W"M m bq 5 1 1 1 0 ER C5 1402 80.qmwr m 000002 0 00 N N N cm w -0 u W w N N N N N N fn cn m cq P) A m L I n L I n - I n L I n . . in In in In in 0 C4 N C4 N N N N fq N N cm N N m rn cn m m ri -I r-I rl �i H u N I M Ln Ln Rn in M M in in in in in 0 m mmmmmm ' 0 81 1 E4 E-1 1-1 Lf E-0 E4 1 4 . 1 . . . 14 w -1 R ri A No coo 0 C, M P z u H z C; 0 C� N C%l N Q N N C4 r ! P ! ONE cm cq L) 1O 1O M C', C', ry C ! C ! Ei a) ko N (m Go W OD N N c 0 Eq N ON cq u 00 0 O CIA 00 Ln In In La O n E4 OD OD OD cm C4 eq in in Ln r- cm N C4 1 67 E pa U O i4 pq in 0 1, L,n N 0 to v Ln in Cq to a w OD co pq m &n 0 v 00 -M -P I t M Iv i l i ci M N m m 0000 0 o® C ! 9 0 m u7 in o m LO 0 0 w 0 c� c�v r r» (D OD ,-1 r - r- M Cq r-I W w CO w o C4 N Ln -o in Ln 0 Ln 0 a' m m C i U i N (q ko HN Pi 01 rioO 0 N m M1 9 N T-1 �i in m 0 Ln 0 (n r-4 0 m in ou EA H E-4 9 R m C3 C, C, C IO Lo QD C4 0 C � C i C � t.� 0 Ln N N r4 A C4 ca W u 0 E-0 11 M H > Ln a N 1 u H P4 ri u to m pq rn 0 U (4 C4 N 14 N C14 .N. Ln an LO 0 0 Cq E-4 M ®d pa 91 coo 15 r4 1r4 w N N r®lrq k- 0 0 °® " v m C z ao OD m ka 0 V r- 0 m a w CD v on la rl in r- 11 ON O OD Ln r- Ln in ig a, 00 01m w r- C) at 0% ca in ri MM NOWOOD C4 w 0 'A 001 0 'i N C � 1 ! 9 b 9 11 9 1 Nd tit 0 fn 0 Ln 0 co VA an 0 w d r- 0 M Ch N C � cq C� 115 Q w P^N cq m N N kg� l-nu m - I ... M- ...... rl O 00000 000000 00 0 C! 00000 000000 O r- r- co 0 d 0 C4 co -0 0 m a -i 0 IN 00 w a v 0 rq co 0 (n Lr) CAI Ln CM r-I Q r- Ln N N .0000-9 Rn rq 00060 14 00 m 0000® t N 0 0 Ln tn kn N M N M in OD H I N 0 Ln in in C°° r- Ch 0 0 C4 N 0 21 11 0- . lom 00 .- M O I 09 ko z ri d C a ri ri ri M r : C� Ln in 0 0 0 00 000000 I kn hr- NOOON 000000 Qt E - 1 NN 1 H M 010 115 in 11109 W cq ; � r1 (� r� C, 0 H W E4 60 H w m m 00 13 m pq I m H E-1 P, H 03 w E-1 w I E-4 0 H M I Q v1 H A P4 Ln N O 0 MMOH H E 0 Lo w r- m O ko o N P, F�i V N N 14 �4 10 ka 10b U N N N N fn m (n m (n 1 , , , , , am I I to H 0 cl C, a V-4 H gn I - 8 m Ln n M 0 Ln m 0 0 C4 0 P I w I I I , N � I I I I I 14 4 0 Eq N In .. I � .4 �q 1 0 0000 00000 1 m P4 I. Ch . I m 0 U, E4 Ui 9 r 1e "! 1 oCa z Cm m m 10 Ln r. r- l3r, 10 cn In m w rvrr can 4D LO 00 0 rl pm cm OD 0 co N m 1s w N L9 1D -! 1a 9 1 04 Lo 0 a) rl 0 to -'I OD IM tv CS m In N li V V) el W OD V w In Nul P� N wi 1D N -I r. L" 000 00 0 0 W 000 co 009H W! 9 1 D 999 El 10 N a d CAI m m v Lf) N -0 0% 0 Im W N 0 v C ! 0 ! r i "i 10 9 V! N w 4M N Ln 4 fn mai rl m ol .0 wl m.a to H ' i ll � p i r- N LD m rn w kD O CD 0 a Ln L- N 4% m ' M 9 1 1 � 9 0.1 16 ff! 0! E) Iq E4 to to w (q U') in V, N cm N E4 ME-1 Coo muiraa ta W m Ln Lri CA r4 cq 14 v -A r-1 M N -P Coo COO lc� a 0i c i c :� Al In I (ft Lf) 0.0 Ln in 0 v m CA V r- H cm v 0 U 0 M E4 Pt V W w w 8, > H 0 Qj L, Lo I R 0 m W U H IK m g."I I Lo 2 .4 in W 11, 1* Ln to 0 0 cm N N N N N N m fn E H WIN N" N N N N 'o WIN N w %D %D w w H vq r4 li r-1 ri t7 H k 10 in to u) Ln 0 L .2 n N I U I I I I I I E-1 I I H H E In o A 0 0 0 0 M NCO pq to a Q C 0 C 0O" Mbh w to 431 WEE 4o R oOWV1 h O O z In In b to 0 ui to ui . a In o Nmulwln reoQhhr h O h 0 0 r- l® W m Q a W In ��a77 0 k h 14 u x0%11 11 as v W V 1n N " b In In 4 m OI In I rl In i In m h O In tO In 1 . m ® in W m % r z O W r O to 'A .l z .i hC O In O 01n 000000 Ln 4 O N O O N 0 0 0 0 0 0 N 00000 0 0 0 0 0 0 O O ri rl °Y H H ep sp O m 0 0 W C N * W 1® N o ® O 7 In h w h In W h 8D m �' O OtAhha NONW Il1 u1 H 1 LnW a%M -0 0 o0a0 m N 1 0mv.l co H M in a tl m N QI m W N W a O ri W N N O � E N V W 00 Ln In 0 r{40 m m %D V! 1fl O ONtO Oml4 lry wl 1p N W H O®bO0 Oi6 N 91 h In O yy N Natl am lll �m N H O W W 0 0inLn 00 0000 00 O m M w m O N b O O N O q H 10 m m N O rl 16 O mr100 rl vc maN U1 N r- N N In rl h p ,i N W H OIn In 00 OOOOOO O Omm ONOO O E W WamN Orl tp OOh O H Nh NN Nmm lli �h LO O N ri N W w .i N o-7 E W 7a F Pm ra H W Z U HE W r� W s°7 a O V Aw ry � pp�U� Le H to U 0 q H W \ U a H fA In V$ W W a W H W H M W ® O 0 i Ooh OOdv + -9NNNN W W w \ N N N N m ml m M M W ri ® tmpbb� ob bwbww [� W w � In N I O 'i � u1 . 'I C - a N 1 1 I I 1 E 1 B 1 I I Ei H m .i W 0000 p'riN ri rl e�i p9 C3 w w wil-I w1w cl cl N 9 m 9 n w p i e! mm o 0 r C4 co 11 0 0 %0%0 ri 'o 0,0 o N ri GM 0% w o�o moos InN OD rt,-a QD m we tn m 0-000-0 00 0 0 1 � 9 9 1 � 99 9 1 � O QD 0 0 W 00 00 N 1-01 w osraam .ice as co 0 ao ch Om nn ON m Ln 0 N cri t- CN In cn r� r- q cl a� Ln m in in LO m w 0 04 E� HIn 00000 14 -1 al Ch m m 14 Iq w H a-0 r- t 04 0 Hog co 0 FA 00 �o pq C � I: i L � L � L � C � ct 1n C4 ko m m N OD ch 0 M m W %D 0 0 qD Fri %P fn m cq no w ch m m 14 TY Ln H 0 pq ka N w to u 0 02 .0 L) H Q w H E-1 Q U P4 M R 00 2 0 H . r, I �l (n C4 IN N N M I I I C 1 4 I o 0 0 C Ln in Ln N H Pa Ln in in pj � 1 C4 a an in Lo in I Lr) 0 1 1 3 1 El I Eq H I E-1 E-4 IH 0 0 0 0 0 �i VA �f VA in 0 IL) m 0' 1 I I I q ID I q I t� Ln, _1 ER ER 0 C) 0 B ) ° dP 00 Ci C� 0 00 0 H 0 4 '00 00 0 00 0 0 C! 1.4 0 C. 0 0 T 040 00 E C I D 00 P 3 'c k _ / aq u w 1 1 U El z m N I N gq ou cm g C-4 A r U7q'40 r- r- OOr 0N0 m 1 E rr NOt�moom, -i tpONOrM O ® mr auiooNm momoNUi m Ir m 05 m M H O H 6 N Vi in In hn p in in i M w NN O V r O0O0H in OMOOO m A m m o o N o 0 0 o M a1 o moo w r In a 91 L mOOOOm woNOm -0 r HH rOl 00 0 H amoaotPm mm rMasmoa.� mMenM+iN H corgi U1 m Ul 14 mu7 0 0 00000000 0 0 0¢ p O q O O 00000000 0 0 0 0 0 0 O 0 0 0 0 0 o a o 0 0 0 0 0 0 0 0 0 i N ti m m o m m 0 0 0 0 m N o m o 0 o r Ca H.-I ornt+0000tn oomo o.e � N 1 + tn w ip U>v.- l0000.� .- for -orlO S m U CO w N O m 0 O m m m 0 m m O H ® Insn NmmM cop coma wN en 'P Ej C', N r'I N eY 05 10 M +� 4 O H N a H Oo ®O W 00OOm MOOD Oin H U Ww m w O0 N 8 oOON t81P OO Pm � _+ ai 1.1 '?i yl N N OO OiW000V i-0C OC M EI W H as r H mO ! ji m E+ N Nm O a H O W w w ® I®m oo Uio 000ln 0000 00 m 00 O O r O O 0 0 r^ O N o o O N O �� as opN.�omoH in r- a Cy w m b u] b in ri w M H ei to Of r5 min Ha S mw ¢oin0000m 00¢000 00 o O ri o 0 0 o r o N 0 0 o N 0 EI IV oONHOO off M OM0w to �w w wi 6 6WHmm a .a %®0 �a H 14 N H H w p W w a w H 0 H U H la 1p w U > m m w H t9 w as H p 0 N w H w m-7y ygPl HHwU wwHa 3iA 02 1 m E U W H� E w la U w a 8 W H14w®H U , N A M i O w o W 0 H m ® om mm Uimr m 4 o0 in 0 i Wo HHNNNNm Hwinww m w H C1 N N N N N N N m m M m m b H I \ 1! 1 1 1 1 1 11 I I 1 w H O a O 0 0 0 0 0 0 0 0 6 0 O o 0 H O O O O O p 0 0 w 0 0¢ p o r rr rrrr 1n I 1 r �i Hhrrr H U dry I m m m 1!H 111 in N O 1a fi ii m O � 1 w l H i I 1 I I I 1 H L4 I I I I I E rd H M H OI H NH HHH riH H �i rqH ® ® O 0000000 01 A W 1 � i 9 9 U ! Oi9 z NN 0 a 0 C4 cm 000 li r4 «q LI In LO v �i q In Ln in 0 0 w N Ln in ap 14 .4 H th 0 " 0 o "'Oool" He ' El NN r. a 0 r- Ln o o o in mm 9 9 � 0 9 9 9 CS 1 ! 7 C3 0 P) M D o o M cm eq - F kn 0 CA fm w In 0 0 cc 04 C-4 ri ri -W 00 0000 00000 00 0 99 9999 00000 00 0 00 0 0 o C3 0 e z o O O c; ®m (q 0 0 m Ln a 0 0 Rn r- rl N N L9 9 9 9 00 999 19 'n c0 to W 04- w to 0 0 0 w t P• m m M LO 0 o w w ma 0 a m ri Ip h In H r-I m m rl MCI C4 tm gry vy mm 0000 v000v Mm PI "! m 999 b 000®0 i 1 ! I 91 u) in In 00 111 r- 0 0 0 r NN 0 m H m t0 cD w rq w Ll 00 ta E-1 y Ct O m In O 010 10 Ln In 0 000 0 C"O C i 1 251111-0 0 , '- � QE mm mulwt0 N cm r. 00 0 0 0 0 on 0 0 0 0 00 0 NM 0000 0 cm In O 00 N 5 m cilo w to In rl ol m 11 00 r- H C a m co Ima m 0 m Q A U txi [a � 8 0 pq m H pq [M P4 MRA P H HN pq u tn 04 U C H 04 11 � � 8 I I P. m 0 P 0 LO Ln w al u 0 0 LO 0 pa w m il cn fn o CA cq C4 ' q q p 0 m w m 0 T-i I I I I D I H tfj 0 .40, C, 000 H A 000 0000 m C4 0 a 0 C) 0 In in in in Ln Ln rl r- r- r- r� � n 0 0) 0 LO In In Ln Ln Ln I n -. in N 0 94 0 ' 1 E� F4 144. R % ' " �'l I 1 81 9 an cl 14 0 m r l m Q 4% ri H C; 0 0 0 ; C; C; C; C; O pq C:, pq mco oln N c4 Lo t- o w om 010 rw 0 . 1 9 1 � 9 1 f! lv 00 ri Q ka " C9 0 U) Oa .4 In C% 14 r- C ! Il i la � rl p i 00 M N 14 OD 'A Qg Rn .4 %ID P AE4 in 000 w W ®i N m ko ca "I H an %D C4 G� - C4 C'4 w E4 C4 14 w C; H M wvwoocom000m cm M�qmLnvmmmovo V1 M we 117ooao in 0 0 0 N Eq OsM miry am ol w c l V C � (40 in m C4 co m 11 .4 H m sa 02 uj H OHM co H 111 m r4 m I m L on w tm '1 00 0 N 00000000000 In 0 .00000000 I E N I WwOMMOknmWwmg M r'q ' ' 4 .'. 4 4 4 " 4 Ei 0 0 0 0 0 u' o o es w E oo O oa a dp go A oa A o o w c o a d E w p H o 0 0 H [� m w co ® u± u1 u1 E N N N r 1 a a a m .i .a It N N N E r Ps H Do 0 99 o m 9+H Oa o FQ H fs � w w R m m t9 N' N n N N N m m m N N N ED H v a N N N W U H w m H W w m R H [7 M m U w W M W to N 0 U a E O N `✓ ® O ri ® w m to �' H Go N H N L 1 E E FA a H M a R 0 R 8 0 00 0 WH 9 g 0 a i s c o p 9 Ci � 00 0 a N .1 '0 9a l i Go 11 o If i CV tv '0 1 10 N A C � 00 cm N C4 0% v O i 1 � w ra cm 0 0 0 C ! 9 O � 0 0 . 00 14 m IN Ch CA N N N gq 0 N m m m 9� C i C t 1(1 IL7 Ln 0 II N cm tm m 0 P fn en a C� tn in kn El Ln cn 0 U as ° o kn 0 0 1 El Eq 0 E4 0 0 0 r-1 M # On M M ,I (N 1 0 * m inD 6 m 0 0 0 0 m -V .0 Go r� cm o cn IM co in �q r 01 o II W Ci 9 1 � . - W ! li 10 -4wio M -Aw"W w cm 0 to qD w Cq 0 N m wM m -0 coh.lm LO r- -0 N a to Il i U i c l I " L � lo � cm N M .q I LO II N O Y OoLn 0 o 000 0 r oor- 0 m - r C; 0' C; o N 0 Ln Ln fn fn Go E II ' ci O! i) ' Ri II 0 N r! c% (4 r- [I w II a 0 w .4 C4 M w hri W ti II w " . " (4 080 M 0 W LO I I t ' t 1! h r� W fn -0 r- to ch m r- Ln li N m V Ln W a. to a ot Ln Rn 0000 0 m N Ln fn cy$ P4 R 0000 0 N Ln C' ! 0! Ca � all 0 0 O OD CD M N N OA M 0 0 0 0 H 0 C i 1 � l z L � I I r i V -0 N 0 (n f (A II 1-1 N -0 OD OD 0 0 0 N 0 0 C4 C4 0 pq OD Cwl 0 A r- 0 0 OD C! 40t o o La It N w C4 n 0 0 0 cla 04 II 0 N a 0 R w m 14 r- 0 C5 co -i C4 l t c � o N W Go N Z in U i7 Z 0 P4 z P, N§ H U NMI 0 pq 14 C4 I w H ER In p to CQ 1 0 0 rm 1-i E-4 . 0 0 0 0 0 O O r m I O o 0 0 0 0 0 O O m m I 0ri m m as eca ,i.i 00o m mm c°g nr m0 0 o n m m mm m � � m v v v mr v v N N N 47 00 00 00 000 o I� 0 0 00 00 000 0 m EA H rt- mm 000 .-A A^ N N O O 0 0 0 1 c •q -1 ONN M Fi N N 00 N 0 1, M1r mm .i.a a N N m m d a r M m l0 W O O O ®n to en a E N 00 00 U LS y O O OO OO 0O O Y'� OO 00 00 OOO O r C, 00 O m W U H ri N rl t§ CJ a F+ FE �y rr H u ® OO 00 OO ONN N N! 0 H W m m k O ri N s 00 00 00 O N N N d w N 0 W # Ar m q N N NLnr r m H UXv in z H m mw� WN H mw�3a�x o m m m U t H U) to ®" ° � �Ch C14 P C4 w �sw NN M N k7 0 O O ® o O 0 H 0 0 r- to N Go co o r- w V � q* W 0 C r, o O C � 11! 0 14 o o OD 0 0o u1 ury 0 C t oot7ta ®i omo 0! okno try w CD o w C4 C4 CD M (n Ln Ln �4 cm -4 v E-i o in o t- eq cm 0 cq 0 Ln OD U H 11D .q 40 a v El 0 0 pqh C) Cm 0 0 Cq C4 pq eq C11 eh o C, 'D ,i kn ODD 'D 1 � lc � C � 1 ! 0 r- 11 0 w in 11 in cq N H 0 4 %D r- .4 0 0 W Go z z pq m E w pq E4 m 9 &P ry Qq In 0 M M CM P) r- pi 0 .0 .4 LY U N N C4 eq 1 0 1 0 1 1 00000 94,0000 H 11 .i .1 H QD OD co co M in Ln Lr) Ln N I I Eq , 4 4 I N 1 N N 0 8 R 0000 r-f M al En r- Q at z 0 In 1 10 W 'q H 0 Im (A L- Ln OD OD 0 0 r 0 0 r- to at in -0 M M r- v c4 o c4 1 ! li N a i Il i r i Im to r-I Ln m r� r- M rq an r cm o 0 IN ! cq 000000 9 0 9 9 9 9 9 9 000000 0 Ei th o o in in 0 '� Ct 0 r� E4 N 0 N " o z pq o m o o m M to 0 0 Ln 11 M V M * K- al Q Ch H 01 0 M 0-0 V ' C - I.; ; C� C� to r- N In to 10 0 Cm o o Ln o o kn to Ln 0 0 In CD CD El v Ln V a I:i C ', H m m -i N CN Ln N In 0 0 CM co N w 0 0 r- w N M 00 0 o M in T Q� In o p -Z 4 Mr N in cm m OD C� I r r- r- ell I" ! Q � c z C � ll � CIO Lr) 0 0 A r N 0 Ln i% H 0 C� �q r- r- N (q C-4 w 8 pq H I F W Z n to H RO N V Ln to H H 0 C"D 0 0 0 Wrsoapo C4 N C4 (44 C4 C4 Ln' 0 fm CO CO CO 04 r H Ln Ln in Ln in H H H a C ". ". Nn pa 00000 M,-I Ln M rn S 1 � 9 l i 1 � 1 � OC7 0 tO 43D OD w m -* I in in CO o 0 I L 9 U � Ln N t- " cn Ln 1 0 � CL m Oi Ln o Lo � V-1 w LO 0 " w o Ln o in An (q rn m Ln Ln Ln E4 r- r- ap m 0 v in Ln 9 C i U ! r � r � Ln v C4 VA m ®v Lr) PI E-1 o in o in Ln O [ IA N Ln Co al cq qb N r- r- P Mi H ! F4 > w 0 N E ka w w m 0 0000 0 0000 pq 00 N ci V Leh v m S 0000 0 t t � c � c 0 0 com c c : : m C4 H v en M clw A 0 0 14 N N Eq Q 0 Z w R 04 0 z Q H 0 Ul H CJ ri in W A In 0 H w 19 0 . O OD CO " n Ln 0 'D C, C4 I I Eq 1 1 H N cm C4 M eq ri 00 0 0 N al H o ° ® ; N m ID MD N N m n v i Ch 0 0 ' C o m cm C4 1 -4 -1 0000 0 Ln C, ul Il i C � I l m 0 m r- Ln N CAI �4 cm CNI 0 OD Go 0 m cn C9 H I t -! oi- r. N wo ma a rq 0 ! C4 0 0 eq cm a v-i co OD OD o 0000 0 0 C) o a 0 0000 0 ea C; o :; . Ln r4 Cq 11 v r- r. 0 cl. 0 c. I:i C � 1 � :� c i 0 0 C c , C c , C 0 0 0 Ln to w cm �q h um ca H Po C) d R 9 a m en M 14 H H I I I I in H E4 m 0 coo H o . o 000 E-1 Ln Urb Ln C14 000 ut I m H I I I R cm 000 0 W I] M III � cn III a � m Ln o In +c In � ul in lry i N rn i I i I m ® M I I I � M E' a I ri V In in A N n H E u] K a M HN II � E I d 1 1 e O FA ii N II ID E I C4 m H W H F Ln m 5 N I ^ d3 H o m � 4 U o m N W Ln I M b ® 0 E-0 N s 00 9 C ! M OD OD CD cn m N cq fn w OD If7 19S 1p z no 00 II q go 0 00 I M m m co w Ch 0. '-! 1� CN %D Ifll -0 N 14 v-i N II H mny 0 ch E4 o0 I n I 11 0% Ei 10 1� m H H N 14 N E re q w m co m Ln in Ln In C N ea N N N N II w co E N �4 li 0 L� L� 0 0 , N C4 (4 N N N eq II N Ul m 0 in H H N PIl I Z-w > m m H 0 P4 EH w d o 0 0 o 0 d [1 0o 0 0 oo o 0 0 0 0 I 00 I be o® w W m m 6p ® M 1!Y !Y1 lfl m �H N N N H N cc 00 0 � m O o 0 0 II m D4 O O 0 0 0 II W U H ~ W ® oo mm WII Q In 181 Itl H H H NN N i o a W m II E ' m n 1 d NN N N N N I II W W U W � }L9 Fi W H W W H N V 6a H U W a vt ® a H1-4 U �' to rg ta o E N a W a0 N moo i o o® p O U o o O v o o o o 0 moommmom m W R o o m m ol-i a v o o N r m o N N aOaMOC`no r CvO NN in C4 at 00 re ri W N ri n ri rl 00000000 O O®® O Q O a 0 O 00000000 O H d E � Woo m� m H �Oari NN0v a rt I N kn t IWh Ch m r O E v W .i N w lfl ! a m m N .a rl v a 0 H N V Pl H !, b O O 11 r4 .4 O m O1 Oa0 W.9-7 O® W U 1 y p r- c7 o 14 m N O v s/ N H co li W w a a W •�' � � N +-I 40 Ip 10 tC1 E m O1 m N N el e ® j rl OO L 1p w 0 W co O M IN it N O 011 ll r! O L Ili ll 111 N m ri m VD v V1 N 47b M N r! ri ri I N N v O O v Ill in O m W Ei H a a t- W i® O r-! ri N O O m r! O ill lA H N�N�Mrl r9 .i N N W W H H W vi H N C4 P ri r! .-I ri H O O O O H W E N N H N N V H V 1 � 0 N H � Fa Fa GI {7 N v W �3 O v 117 0-0 b 0 E H E-4 ® v w A li m NNNfe1 U W H E \ iy W W ® W O E Q .?0000000 R q O 8 a o O O O W M W m®mm W Gl W fQ W M W di m Lf) w N QH 1 ryNNNMN I E-1 a° O �] E m N p 0 0 0 0 0 0 0 E O q 0 ®�H ° I. c gn oo C; ch at H ii w H a i a cm m n aN H w m H E4 a cm El H i ! a r y e f E i �I a� o cn a w H H w N o e+ H M ca n w N w m m ® d o F BOYNTO RA W1159m, mmmmBEACH ADVISORY BOARD CRA ADVISORY BOARD MEETING OF: April 7, 2016 AGENDA ITEM: VILA. SUBJECT: overview of CRA Finance and History of CRA Funding SUMMARY: See attached Charts. It for year ending 9/30/15 also attached. FISCAL IMPACT: Budget as approved governs CRA expenditures CRA PLAN, PROGRAM OR PROJECT: All CRA Plans RECOMMENDATIONS: None Susan Harris Finance Director �m uj CMD 0 (a M Z Z cl CC) uj z 0 LL m z CL o 4 -4 o z >= >= LL w 0 0 0 to R: U) LLJ > > uj 0 L \ \ at D o �° N L m r r r r 0 IL E us Y I P m R 0 co o f► +, r v T- c U N a� LL ® r ~_ e e ® H W C s q L q CR Ch C? ct CN M y- z 4D �'- O (4 W M r. m o Z r a w CL d 10 I ' l l 4* w U) y ca Z m as �. r• o �ti u� rn r - r� V q qw 0 et o r uo r to �O C W oo ao ao co m a ao co N co co ea w , - m N M = r M U) m N'O Z N p O 90 E ~M L e W e .� 7 W T C� M co ® cm Q V N V O U . 0 cc Z 6i. T- L i.1 e d w CL H C) C7 CL CL U) 2 0 AS L W - I CL ' b W C) La Co to Co L W F K .® r . a Go co N ui a a a a a a a a t, ® a a \ \ i \ \ \ \ \ \ i \ i o tm co d M N G CN h- LO CD M r CO r N 6 r L6 Cd R of 0 06 d C6 05 -i ti N L6 06 cli LL N N r r r r r It ® N r r ® N Cp r co m M LO R CD CD LO R I r 0 R LO CO 0) R M M ' d CN d d' Y-- d N r r M cq I OZ cQ M "4 R M M R N r M r CSI r w w C) _ _ - - Cn h- CV CV P- tV N R r -t M R R LO r N r r cm r r N r r r r r r N CN M 0 M 0 0 n QN 0 r R 0 t - 0 0 M M r N CYS e d d CDs _ Lfj Lt7 4 N- C6 C6 ui CO w CL 0 0 o a o a o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NR NU°) It 0 R M L6 M r N M 4 R Mz 05 Lti M r CW r r M Cl) N r cm N M M r r r r r , r r r ® r R M M CO MrR Nd 0 d 04 C)M N N LO m to M MM 00 I co It CD O CO R C 'r'} uj R R M M R CN n 0 CV d co LO C Y) m R OD 00 Cr) o eR e . r N r _ d r r dfqp , i 4 C5 4 _C M h• R (' N r r LCJ d: R M M Lc) _ R CV R r r� C7 r L R R ® M R R rR R R R R R R R r M 04 M R r M LC) CO 00 r N r M 00 00 R CO 0 'r CL r r r r CL co C O r CV M LO co R co m 0 N CO R 00 t35 0 r N M v LO r r r r r r r r r r r r r N N N N N N N N r ® ' r r ' r r ® r ® ® ' ' ® , i ' i 1 l r ' t T C M Itt LO co R r04 Nr LO co R 00 0)0rN M_ ' LO CS C) C r r r r r r r r r r r r 04 04 04 N N N N N N N N N N 04 N U LL LL LL LL LL LL LL LL. LL LL LL LL LL U- U- LL LL LL. LL LL LL LL LL LL LL U- u C4 CL CL 0 CL CL 0 P CD 1 CL co m m 0 0 x .® N th 0 . :3 N LL . .® 0 C cc CD LO IT- 4 6 C CL CL CL e CL C cc CD C CL LU CL M . C cn 0 'n ca C d ®® Cy CL CL rr ® — ._ 2 0 E E E CO E Gf I%- r Co 1` R e CO 0 CM W 0 Cc 04 r U. w r LO r R P-- r ui ui uj 411, r ui 4- 0 CM v CL Ln CM LL CL tm 0 Cos *a CL ®L ® L L ti. L . 0 ( : »f «y ~ . co LA. - � � \ � { ° \ ( r o •� c U c r L i- C) 0 O CL 0 m O v C4 c v c cm r c :g ` 10 c V o L . N O O ® ■' CL w7 i w o� V p cm 0 e CL 0 CL V O o C S 'd O CIS 'o CL to c — ' - -a ' c V V V p CL Lo r _ _ K CD O ® y- V O c r N r d m 0 O ® J V 7 N co c V 'Q c m ® ` Q9 V L gy\ � CD w 40 ® c •® L hm H ® _cc N= L. ]' V O O,O K on 12 KI • ®` 0 0 0 O y o co U- .2 rr ._ ® r L, a L o r cm CD F r w R - c r r r V- s r ® _ V r r r ` r we Q CD CL o to r L v L a V F- _ — c FA ca CL CL 0 E c N N ® ® LU ® 1 LL Ln N >- 0 co w tko CL ID 0 co 40 r - 0 Co LL u .... ..... . ........ . . . .. . . ......................... O N R O O M O O O O 0000004 r M r r 0 0 OW 0 00000 0 0 0 0 0 0 CIO 1ps^rOd'R r 4 _ OOOr r 6& 6 d 0 N 0 O 0 N N R O WOO r 0 4 r 0 0 � r 1M M W M N r r w cl) 0 ® r I ti 6* M r N ® r O M r 0 0 0® O r N r C O 1 0 W 0 cc co r C� R N r f0 r 'O LL r V! N to W)- 0 M CD 'T CD 0 M O Cl O -� `++MOrrOOOOW CL ® C _ r ; 3OOOdFROO _ Q p M O N r 1I- d d � 0 N d p W L IL k ul W p fA o 0 • d Q L CL >+ C Z W C p Q •Q W m _ d O d • > ® V _ _ _ d • E L C .L r C p C O .� r L ®` ® K O 40! d LU �- 0 C C N • fA C a C IL O C V C — '® to _ ® 0 42 O. 3 ® C O "` C Qy • lO d 9 C > p -J C C C 0 C i1 O C W •C N .® O C �+ C C L w di C •` C , Ci C L >% aL L ®F L 'L d O ®'y . N 6 0. J 2 U) Q 0 co ca LO cc 00 c N CO 0 co a 0 LO CD 0 — ,_ CL C4 w 0 co C4 E CD w w w .. CL IL mmmmmmmmmmmmm lev-wosoow WOO r CM W M Cob r M V, N r r r r r r r r r � cm a I- r , • Im C' N 3 c+l 00 P. w 00 r+ N W M I!S 0 00 r. a 11 Go0)NN0WV -OS 17 N WM 1 � 0001+ CMWT- NN4DWT - M = > Q C7 4'V r M N h N OJ {, M q q M q M " L o J O N 401� 40 wo wp� 49 . . . w 64 Q) 60- LC-4 W r 1`0) 147 1~ to M W r r r r 0 WON N M r Cry 0 M Y � 117 10 N 01 V 00 00 M 00 00 � © O r r r �, - - - - r Lo d LU c4 M P- r r r r to Co _ M F R R 13i w r r r r LU rr r • •`, II V- M M "r - _ - - ® r r F 0 cm r r r r r > o co cc L0 L o 6 CD M CO) co r r r N r M Lo 46 r N V- r LL IL LL > 1r Lm vw La LM LM co uj LM 4-A cl a Q 0 06 ca ui LM 0 LM 0 d cc CL It CL M It CL ■ . M a m v4la e j Fq ® �w yr$ ^. tv La m W rt M M 0 i n ®L°' �iP ® i ter ra vp In �H Ham'{ @N�i'. �f �G ICY �& Ct NNOW 0 00 6 P1A and .ate T& 4 Fd- 6a8 rB 4°! �1 �9 � � � p} rl In M tl � KBD R°lmiflp+[ * fti M w Mqp s qp ' 0 M 1 0 o MC4 re 61 9 w N O IR !�! Re s � 3° � #BD � � 1 o� vw �- cc u m M t 24 in Ltt 0 FA "ilia a� w� 9 x w '- m V . — .— ® a W . .. (L .® }' .. '- CL U All � t• 7� � i�� � f s December 7, 2015 } S ! }N �K53�1 h � a O k, - Boynton Beach Commumfty Redevelopment Agency Aud Report to Those Charged VAth Govemance SKJT'G ccRmtm PUbLIC ACCOUNIANTS K CWC5ULrAj4F5 SWISOA UV4 JaCOMInG, T'andoc A GEEMM LLP December 7, 2015 Management and Board Members Boynton Beach Community Redevelopment Agency 710 No Federal Highway Boynton Beach, Florida 33435 Dear Management and Board Manbers- We are pleased to present the results of our audit of the is financial statemags, of the Boynton Beach Community RCdcvClOPment AgMCY (the Agency) for the year ended September 30, 2015. This report summarizes our audit, the scope of our engagement, and key observations emd findings from our audit Procedures for the year ended September 30, 2015. This report also contains the communications required by our professional standards and by Governnwnt Audiung Standanb. The audit was designed to express an opinion on the Agency's 2015 basic financial statements. I accordance with professional standards. we obtained a sufficient undenUnding of internal control to plan the audit and to determine the nature, timing, and extent of tests to be performed. However, we were not engaged to and we did not perform an audit of intemal control over financial reporting, This report is intended solely for the information and use of those charged with governance o f th A gency , and is not intended to be and should not be used by anyone other than these; specif p We appteciate this opportuinty to meet with you to discuss the contents of this report, and t answer any questions that you may have about this report or any other audit-rel matters. If you have any questions, please contact Richic C. Tandoc, Partner in charge of the audit, at (305) 269 -8633, ext. 8016. Very truly yours, Boynton Beach Community Redevellopment Apacy 2015 Audit Resdits and Required Communicadow .... . ................. . . . ........... — Generally Accepted Auchting studads and c7overnment Audift Standards require the auditcT to communicate certain matters to those charged with governance that may assist in overseeing managemettt's flaiincial reporting an d disclosure procem. Below is a summary of these required conitamnications, Emd ow response tD each, as they apply to the Agemy as of uid for the fiscal yew ended September 30, 2015, Required Conunanication Response Auditors' Responvibilitles Under Generally Accepted Auditing Standards (GAAS) and Government Auditing Standards (GAS) Our responsibility is to express opinions on the Agenvy's We have issued an unmodified opinion (i.e. a ck-an opinion) financial statements based on our audit conducted in accordance on the Agency's basic financial statements for the ended with auditing standards generally accepted in the United States September 30, 15. and GawamentAudking Standards. Those standards require that we plan and perform the audit to obtain mwonable We have also issued our report on the Agency's internal assurance about whether the financial staumients are fire of control aver financial reporting and an compliance and other material misstatement matters for the you ended 5 cptcmbcr30,2015. Wanotedna material weaknessus or rnattaial noncompliance issues. In addition, we am required to report on die Agmc internal control over financial reporting and on compliance and other Both reports were dated December 7, 20 matters. However, prnviding assimmoc on the internal control or compliance with certain provisions of laws, regulations, contracts, and agreements was not an objective of our audits, and accordingly, we do not =s such StWilcant Accounting Policies Initial selection of and changes in significant accounting The Agency's significant accounting policies are desmbed in pDficics or their application and now accounting and reporting Wote I to the financial statements. s the year must be reported. Aocuunting principles selected by management are consistent In iti , we must discuss ourjudgments about the quality, wM those presm by government accounting standards, not just the acceptabift of the accounting policies as applied and the Agency's financial statements and related disclosures in the Agmcys Lnvial . g_Tporting. we clearly eEntte2dqIinLa complete warmer. Accounting Estimates Thepreparation of the financial ffiatments requires the use of For fiscal yew ended September 30, 20 management's accounting estimates. We am required to inform the Board of judgment was called upon to establish the useful lives of such accounting estimates and about our conclusions regarding capital assets. We have determined that such estimates am the reasonableness of those estimates. reasonable. Methods of Accounting for Significant Unusual Transactions and for Controversial or Emerging Areas We are required to infbnn those charlged with governance about We did not identify any significant unusual transactions b the methods used to account for significant unusual transactions the Agency or any significant accounting policies used by the and the effects of gigniftant accountin policies in Agency related to controversial or emer mesa for which controversial or emerging areas fbr is there is a lack of them is a lack of authoritative guidance, authoritalive ce or consensus. Significant audlor Unadjusted Audit Adjustments We am required to inform those charged with governance about We did not identify my material it adjustments during our auditor a4*tments arising &om the it (whether recorded or audit of the financial statements as of and for the fiscal y ear not) That could, in our judgmcnt, have a si cffcct, ended Septe� 10, 2015. individually or in the aggregate, on the Agency's fmaxicid stalments. ^ Boynton Beach Community Redevelopment Agency 2015 Audit Results and Requh-ed Com unications Required Communication Response Fmad and Illegal Aeft We am required to inform those charged with governance about We me not awam of any fi-aud or illegal acts that occurred any and all fraud and illegal acts involvin senior management during die lineal yew involving secdor mana or an and any fraud and illegal acts (whether ewised by managernent fxaud or illegal acts involving any employee that would cause or other ea that cause a material misstatement of a material misstatement of the financial statements. financial resourrcs. Dingreaments or Difficulties with Manapment We are nquired to inform those charged with governance about We did met eircounter any significant disagremuents or any significant disagreements or difficulties encountered with difficulties with management during the course Gf the audit. Major Issues Discussed with Management Prior to Retention We are required to inform those charged with gDvcrnanccabout We did ant discuss any major issues with management prior any major issues discussed with management prior to retaining to retaining us as your auditors, us as auditors. Independence We are required bo communicatewith those char with I . Them are no relationships between us and the Agenc govorrumcc, at least annually, the following: and its related entities thA in ourpmfessional judgment, may reasonably he thought to impede our independence. 1. Disclose, in writing, all rclationfts between us and the 2. With regards to our audit of the Agency an of Septembew Agency and its relatud entities the:4 in aur professional 30, 2015, we are independent with respect to the judgrneni� may reasonably be thought to impede our Agency, in accordance with Rule 101 of the American independence; Institute of Certified Public Accountants' Code of 2. Confirm in writing that, in our professional jud we Professional Conduck its interpretations and rulings, and are independent of the Agenc in accordance with GavErnment Au&dxg Sfandm*. generally accepted auditing standards and Govemment 3. We have not peaformed. any nan-audit services for the Audift Stamku*; and Agency during the fiscal year ended September 30, 3. Disclose any non-audit services peribrmed for the A 2015, or thereafter. Management Lefler We am requimd to issue a management letter responding to We have issued a management letter in accordance with the certain requirments in accordance with the Rules ofthe Au&for War ofdw Audkor General of the State of Florida, dated Gmeral of the State of Florida. December 7,2015. Management Representations We are required to communicate with those charged with We requested certain representations fircm. managemerit thilt governance about representations requested from management are included in the management representation letter dated December 7,2015. ' BOYNTONBEACH COAUgMTY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Basic Financial Statements September 30, 2015 (With Independent Auditor's Report Thereon) BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) For the Year Ended September 30,2015 Table of Contents FINANCL&L SECTION: Independent Auditors Report Management's Discussion and Analysis (Required Supplementary Information) 3 Basic Financial Statements: Government-wide Financial Statements-, Statement of Net Position 9 Statement of Activities 10 Fund Financial Statements: Balance Sheet ® Governmental Funds 11 Reconciliation of the Balance Sheet — t t of Net Position 12 Statement of Revenues, Expenditures and Changes in Fund Balances — Governmental Funds 13 Reconciliation of Revenues, Expmditures and Changes in Fund Belances — Governmental Funds to the Statement of Activities 14 Notes to the is Financial Statements is Required Supplementary Information: Budgetary Comparison Schedule (Unaudited) - General Fund 25 Notes to the Budgetary Comparison Schedule 26 COMPLIANCE SECTION: Independent Anditors Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards 27 Management Letter in Accordance with the Rides ofthe Auditor General of the to of Florida 29 FINANCIAL SECTION Independent Auditor"s Report SKUT G CMfMD PUBM ACCO & Cr-H3k!LTANJS SOMM nn% *=MD, TKNIM Sk Gamum LLP 5805 Blue IaSM Drive I Suite 220 1 Marrit FL 33126 Tel* (305) 269-8633 1 F= (305) -06521 WWWJ]Otff-CPLWM Independent Anditor' is Report To the Board of Commissioners Boynton Beach Community Redevelopment Agency: Report on the FU=clal Statements We have audited the accompanying basic financial statements of the goveirimental activities and each major fund of the Boyziton Beach Community Redevelopment Agency (the Agency), a component unit of the City of Boynton Beach, Florida, as of and for they ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Agency's is financial statements as listed in the table of contents. Management's Reuponsffift for the Financial SkaMmena Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in. the United States of Amerka; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair pmentation of financial statements that are free from material misstatement, whether due to fi=d or error. A udftor's Regm=16ft Our responsibility is to express opinions on thew financial statements based on cnu audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Gavermunt Auditing SAuidards, issued by the Camptroller Gmeral of the United States. Those standards require that we plan and perform the audit to obtain reasonable asaurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosums in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments6 the auditor considm internal control relevant to the entity's propmudon and fWr presentation of the financial statements in order to design au&t procedures that are appropriate in the but not for the purpose of expressing an opinion on the eff ectiveness of the entity's internal control. Accordingly, we otpress no such opinion. An audit also includes evaluating the appropriatmess of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the all presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate. to provide a is for our audit opinions. OPINZORS In our opinion, the financial statements referred to above present fairly, in all material respect&, the respective financial position of flic governmental activities and each major fund of the Agency as of September 30, 2015, and the reslmtive changes in financial position thereof for the year then ended in conformity with accountirig principles generally accepted in the United States of America. I odwmahwy Required Supplementary Ififarmation Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and budgetary companson information on pages 3 through 8 and 25 through 26 be presented to supplement the basic financial statentents. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standw* Board who considers it to be an essential part of financial reporting for placing the basic financial statenmUs in an appropriate opmmfional, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards genwally accepted in the United States of America, which consisted of inquiries of management out the methods of preparing the information and comparing the infinmation for consistency with mmutgement's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the bsaic: financial statements. We do not express an opinion or provide any assurance on the infonnadon because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Reporting Required by Goveriment A Stffndw& In accordance with Gowr7menlAuftng Standards, we have also is our 7, 2015 on our considmflon of the Agmcy's internal control over financial reporting and our tmft of its compliance with certain provisum of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance: and the results of that testing, and not to provide an opinion on the intailal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordence with Govemment Auditing Sawdards in considering the Agmey's internal control over financial reporting, 0" * W tarq;MA /10 December 7, 2015 2 Management's Discussion and Analysis . . . ......... BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Management's Discussion and Analysis - Unaudited r3 , 20 15 The Management's Discussion and Analysis W&A) of the Boynton Beach Community Redevelopment Agency (the "Agenc is designed to provide an objective and easy to mad analysis of die financial activities based on curmatly known facts, decisions, and condition& no MD&A provides a broad overview, short-term and long-term analysis of the Agency's activities based on information presented in the financial statements. Specifically, this information is designed to assist the reader in focusing on significant financial issues, provide an overview of the Agency's financial activity and identify changes in the Agency's financial position and.its ability to address the next year's challenges. Finally, the MD&A will identify any material deviations from ea budget. The Agency is an independent agency and a component unit of the City of Boynton Reach, Florida ("City'). The Agency has presented its financial statements in Accordance with the reporting model required by Ciovernmental. Accounting St Board Statement No. 34, Basic FVnancial Statements and Management's Discussion andAnatysisfor State and Local Govemments. 'Me information contained in this MD&A is only a c of the entire financial statement mport. Readers should take time to read and evaluate all sections of the report, including the footnotes and required supplementary infirmiation provided. FINANCL&L HIGHLIGHTS The Agency's tax increment revenues increased by 18.5% or $1.3 million to $8.3 minion approximately during the fiscal year. This resulted primarily fi (1) increased property values by 12.0% within the CRA district ftom residential, multi-family, condominiums and commercial properties; and (2) the completion and inclusion on the tax rolls of the Seabourn Cove Phase 11 rental properties bringing 146 "gmen" rental units to the district The Agency began the fiscal year with a net position balance of approximately S 13.8 million, The Agency's total revenues for the year ended September 30, 2015 were approximately $9.6 minion, while total expenses were approximately $6,9 million, increasing net position'by approximately $2.7 million. Marina redevelopment, a multi-year project, continues with the completion in January 2015 of the harbor muster building including public restruoins, a retail store, new fueling facilities, and public art. The next phase of Marina redevelopment, the Open Space project, is budgeted for 2016 to provide a more expansive view of the marina businesses and waterbiont and provide a safer environment for pedestrian and automobile traffic. Downtown development is robust with construction underway in. August 2015 for the 500 Ocean Project, a large scale mixed-use development to include 341 residential units, 40,596 sq. ft. of retail space and 6,600 sq. ft. of office space. This project meets the ICC 700-2012 National Green Building Standard Silver and further advances the CRA's goal of stimulating development of green building pro) ects. In the 2016 budget year, the CRA in cooperation with the City of Boynton Beach Police Department, has budgeted for a Community Policing Initiative in the Heart of Boynton. The goal of the program is to address mime holistically within the Heart of Boynton by promoting an atmosphere that emphasizes a sense of caring and community investment. Safety will be enhanced timmigh the cultivation of persona relationships between police personnel assigned tot e neighborhood on foot and hike Patrols. Additional public parking on land owned by the City of Boynton Reach at NE 4 Strew, in close proximity to the downtown core, is under constmation as of year-end 201 and will provide an additional 21 RMOCS to accommodate business activity and provide for event parkin& 3 BOYNTON BF-ACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Management's Discussion and Analysis - Unaudited September 30, 2015 Attendance at CRA events has continued to increase providing a surge in local business and vendor sees. The now parldng lot is expected to be, completed by April 2016. The Heart of Boynton redevelopment efforts continue with the Ocean Breeze East parcel and Mailift Luther Kin& Jr. Boulevard South, site under development agreements for affordable multifamily rental housing. The Model Block Project is a partnership between the City and the CRA to revitalize an entire block west of Seacrest and along west Martin Luther King, Jr. Boulevard to include building for-We sirwe-family homes, constructing strectscupe, installing new utilities and extending N.W. I I' Avenue from Seacrest to N.W. 1 61 Street. As of the end of 2015, two homes have been constructed and sold and two additional homes are in process. The gmundbrealdng of the first new retail its in over forty years on Martin Ludw King, Jr. Boulevard, Family Dollar, represents a now beginning for this historic. corridor. 'Me key goal of the Heart of Boynton redevelopment efforts is to create affordable housing and improve neighborhoods within the Boynton Beach Community Redevelopment District, District beautification efforts continue with the Entry Signage project at north and south Federal Higbway to enhance the existing entrance sigriage and create a sense of arrival, pride, brand and welcome. During the fiscal year aignage construction is well underway with expected completion by the and of 2015. The project scope was expanded for the north Federal Highway sign to include additional landscaping to enhance the sense of arrival into the City. Additional beautification projects include the completion of the Ocean Avenue Lighting Project enhancing the look and safety of the downtown ccaiider. The Town Square Project encompasses 18 City-owned acres within the redevelopment area of downtown Boynton Beach. Funds were allocated in the fiscal year for urban design Conceptual drawings on the, look and fanctioning of this area. During 2016 planning will continue on the comprehensive redevelopment of the Town Square wen. Economic development programs targeted to existing and new businesses within the CRA district continue to be successfial. A to of 22 grant awards were made and approximately $75 thousand was disbursed during the fiscal year to businesses for facade improvements, interior renovations, construction incentives and rent subsidie& OVERVIEW OF THE FINANCIAL STATEMENTS The Agency's to financial statements am comprised of the 1) gov nt-witte firumcial statements, 2) fund financial statements, and 3) notes to the basic financial statatneuts. This report also contains required supplementary information in addition to the basic financial statements theraselves. Government-Wide Financial Statements The government-wide financial statements provide readers with a broad overview of the Agency's finances, in a manner similar to a privat -sector' business. In addition, the goverament-wide statements are prepared using the accrual basis of accounting. The Staternme ofNetposidon (balance sheet) presents information on the Agency's assets and liabilities, with the difference between the two reportesi, as net position. The Statement ofActivilies (income statement) presents information showing how the Agency's met position changed during the most recent fiscal yew. All changes in revenues are reported as soon as underlying events giving rise to the change occur regardless of the timing of related cash flows. The expenses am reported in this statement for some items that will only result in cash flows in firture fiscal periods, 4 BOYNTON BEACH COMMUNrrY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Management's Discussion and Analysis - Unaudited September 30, 2015 The government-wide financial statements present functions of the Agency that are principally supported by tax increment financing (governmental activities). The governmental activities of the Agency inchule general government activities, public safety and redevelopment projects. Thus, the Agency has no business- type activities. The govermatint-wide financial statements are found beginning on page 9 of this report. Fund Financial Statements The governmental fund financial statements provide readers with an overview of earch fund and its related function in a traditional formal- A fund is a grouping of related accounts that maintain control over resources that are segregated for specific activities or objectives. The Agency, like of state and local govianments, uses as accounting to ensurc and demonstrate legal compliance with finance-related legal requirements. The Agency utilizes three funds for the fiscal year ending September 30, 2015, the General Fund, which is a governmental fired, the Debt Service Fund, used for servicing all debt payments and the Projects Fund, from which all capital outlays financed from Bond proceeds or other sources of financing me spent. Goverwmentalfundk Governmental funds am used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, the governmental fund financial statements focus on near-torm inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year, Such information may be useful in evaluating a gDvermnent's near-term financing requirements, of s of governmental funds is narrower than government-wMe financial statements, and it is therefore useful to compare the inbartnation presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By comparing and contrasting, readers may better - understand the long-term impact of the Agency's near term financing decisions. The "Balance Shoot — Governmental Funds" and "Statement of Revenues, Expenditures, and Change in Fund Balance — G ve a Funds" are reconciled as shown on the "Reconciliation of the Balance Sheet — Governmental Fund to the Statement of Not position!' and the "Reconciliation of the Statement of Revenues, Expenditures and Change in Fund Balance — Governmental Funds to the Statement of Activities" to facilitate the comparison between the governmensalfinds and governmental activittes. The Agency adapts an annual aWopriatod budget for its General Fund. A budgetary comparison schedule provided for the General Fund demonstrates compliance with this budget. The basic governmental iands financial statements can be found beginning on page 11 of this report. Ihe reconciliations between the governmental funds and governmental activities are found on pages 12 and 14. Notes to the Bade Fmanckl Statements The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and the fired financial statements. These notes to the basic financial statements begin on page 15 of this report. In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the Agency's budget to actual results for the General Fund for the current y uired mpplementary information can be found on page 25 and 26 of this report. 5 BOYNION REACH COMMUNYPY REDEVELOPMENT AGENCY (A Component unit of the City of Boynton Beach, Florida) Managarnent's Discussion and Analysis - Unaudited September 30,2015 GOVERNAWNT-WIDE FINANCIAL ANALYSIS As noted earlier, net position may serve ova lime as a usefid indicator of a government's financial position, In the case of the Agency, assets exceeded liabilities by approximately $16.48 million at the close of the most recent fiscal year. However, the largest portion of the Agency's total assets, 73%, is reflected in its Capitol assets. Summary of Net sit'on September 30, 2 20141, Assets Ctirrent and other assets $ 9,523,338 S 8,849,952 Capital assets 26 182 135 26,652,644 Total assets 35,705,4 3 35, ! 596 Deferred outflows of resources 1,317,271 !,x/5, Liabilities Current liabilities 1,720,889 1,741,209 Long term liabilities 18,819,016 21 Total 11abilitles 2,0539,905 22,76 ---------- - -- 82,90 ........ Net position Invested in capital assets, net of related debt 5,848,631 3,978,246 Restricted for- Capital projects 5,465,780 4,601,905 Debt service 66,231 888,011 Unrestricted 5 197 4.327.336 Total net position S 16,482,834 $ 13,795,498 The Agency has restricted assets for various capital projects and the bond reserve had requirement. Governmental Activities Governmental activities increased the Agenc3es net position by approximately $2.68 million. Key elements of this increase are detailed as follows: Summary of Changes In Net Position Year Ended September 30, 1x 2014 - - ---------- ---- —111---1-111 ----------------- . ......... - Revenues Program Revenues Chargw for services $ 1,256,824 $ 1,212,496 General Revenues Tax increment revenues 8,317,868 7,022,119 Other revenues 43,597 211,354 Total revenues 11, ,2 11 445,969 BOYNTON BEACH COMMUNrIT REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Management's Discussion and Analysis - Unaudited September 30,2015 Summary of Changes in Net Position (continued) Year Ended September 30, 2015 2014 Expenses General government 2,8 % 2,758,056 Redevelopment projects 1,901,500 1,107,852 interest on long-term debt 695,516 932,305 Loss on ale. of capital assets 1,439,836 Total expenses 6,930 948 J28 t 213; Change in net position 2,697,341 3,647,756 Net position beginning of year 13,795,498 10,147742 Net position end of year $ 16482839 $ 1379 Tax increment revenues increased by approximately $1.29 million during fiscal year 2015, the result of increased taxable values and now prqjects. added to the tax roll. Year-to-year expenses increased by approximately $2.1 million. This was due primarily to the increase in loss on sale of capital assets and increase in expenses for redevelopment projects offset by a reduction in interest on long-term debt. FINANCL4L ANALYSIS OF THE AGENCYS FUNDS The focus of the Agency's governmental funds is to provide information an n erm Mows, outflows and balances of expendable resources. Such information is - useful in assessing the Agency's financing requirements. In particular, unreserved fund balance may serve as a use measure of a govemment's net resources available for spending at the end of the fiscal year. At the end of fiscal yen 2015, the Agmcy's governmental funds reported an ending fund balance of approximately $9.38 miHior4 of which approximately $55 thousand is nonspendable, $1.03 million is committed, $7.45 million is assigned and $835 thousand is unassigned funds. GENERAL BUDGETARY HIGHLIGHTS In fiscal year 2014-2015, actual to revenues were favorable over budgetary estimatesby approximately $486 thousand. and wtual total expenditures were favorable over budgetary estimates by $217 thousand. Refer to page 25 for budgetary compatison schedule. CAPITAL ASSETS AND DEBT ADMINISTRATION Capkd Assets During the yew ended September 30, 2015, the Agency acquired approxiniately $2.8 million in capital assets of which $1.9 million represents amounts transfenvil from Construction in Progress for the Marina construction project and paddng lot project. Properties acquired of approximately $358 thousand are targeted for redevelopment as outlined in the updated Heart of Boynton Conimunity Redevelopment Plan and construction in progress projects of approximately $370 thousand we primarily the result of the Ocem Avenue Lighting and Entry/Welcome Signage projects. 7 BOYNTON BEACH COMMUMITY REDEVELOPPMNT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Managpment's Discussion and Analysis - Unaudited September 30, 2015 Long-Tem at At the end of fiscal year 2015, the Agency has total bond debt and loans payable outstanding of approximately $20.3 million. Of this amount, a pproximately 15 ®3 million represents the 2012 refunding Revenue Bonds, $5.0 million represents the 2005B Series Tax Increment Revenue Bonds which was refunded as the 2015 Revenue Bonds, and a loan payable totaling approximately $291 thousand. ECONOMIC FACTORS AFFECTING NEXT YEAR'S BUDGET Assessed property valuations within the conuramity redevelopment district increased approximately 10.6 versus prior year resulting in an increase in tax increment revenues of $1.0 million, net of estimated adjustments for tax roll certifications. The Agency's Board approved the 2015-2016 budget including ufflization of tax increment revenues for a number of projects including the Open Space Mmina construction project, an additional public surface parking lot in the downto corridor, key acquisition funding, finiding for the Town Square project, community police prograrn, Heart of Boynton initiatives and the continuation of business and economic incentive programs. REQUEST FOR INFORMATION This financial report is designed to provide a general overview of the Agency's finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to Susan Harris, Finance Director at 710 North Federal Ilighway, Boynton Beach, Florida 33435. 8 Basic Financial Statements BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beacli, Florida) Statement ofNet Position September 30, 2015 Govermnients] ASSErS Cash and cash equivalents $ 9,465,763 Accounts receivables 2,042 Prepaids 55,533 Capital assets, net of accumulated depreciatiow Land 22,087,226 Furniture and equipment 148,789 Renovations 1,384,576 Leasehold improvements 74,164 Construction in progress 421,841 Building 1,499,370 Land Improvements 566,170 Total assets 3S 4 73 DEFURRED OUTFLOW OF RESOURCES Deferred charge on refUnding LIABILITIES Accounts payable and accrued wqmnses 141,777 Deposits payable 1,350 Long-term liabilities: Due within one yen 1,577,762 Due in more than one year Bonds and Loam Payable 18,744,0(M Compensated Absences 75,016 Total liabilities ' O , S5§7 NET POSITION Not i n v e s t m e n t in capital asses 7,699,628 Restricted for- Capital projects 5,465,780 Debt sez-vicc 66,2 Unrestricted 3,252 200 Total not position The notes to the basic financial statements are an integral part of this statement. 9 BOYNTON BEACH COMVRJNM REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Dowit, Florida) Sta(amentofActivities For the Year Ended September 30, 2015 PT2&rlm R j!ues Net (Expense) Revenue and Ch"es For Chango in Net Ex s ices Asmets Funedons/Progrants Governmental Activities, Cieneral. government $ 2,880,870 S 1,256,824 $ (1,624,046) Redevelopment projects 1,932,634 (1,932,6314) Interest on long-term debt 695.516 - Total 5 4 50,020 $ 1,256 121 4 252 L . L fi Z General Revenues: Tax increment revenue $ 8,317,868 Low on sale of capital assets (1,421,928) Interest and other income 43,597 To g nu 6 3 4,52`3 clmnge in net Position 2,687,341 Net position -beginning of year 13,795,498 Net position - end of year $ 16 .�6 The notes to the basic financial statements are an integral part of ft statement 10 T AGENCY (A Comliment Unit of the City of Boynton Beach, Fl ) Balance sheat Govammental Funds September 30, 201.5 1 Deb 6 l Gene ral Fun E l t 4' d aid Fu d ASSETS Cash and cash is 3,855,39 S 5,544,193 1 S 9,465,7( Accoun receivables x1,2 2,12 Prqx 27-013 & 2 Total asads 3 „1 114,11 3,512, a 1.3 d1231 � x,3:12 LDIBELUIES AND FUND BALANCES Liabi lifics: payable Accounts d acomed expcnacs S 34,844 $ 106,933 $ 141,777 Dqxmits payabl 1 "31 1350- °l liabiliti 364 ,1 1d, 2 ,@ 14 2,127 Fund Balances: Nonspendable 27,013 28,520 55,533 Restricted Commited 160,412 804,049 66,231 1,030,692 Ass igned 2,825,016 4,633,211 2,4.5 Unassigned 835 25 835, "151 I :i,, 4 65,7 90 v. v Lobs 2 1 9,3811,211 Total lip `lit; n ces $ 1"1 ffi3 1 �0 t 1 " 9,223 , ,,,, , notes The is financial statements are an integral part of this statement. II BOYNTON BEACH COMfUNUY REDEVELOPMENT AGENCY (A Component Unit of City of Boynton Beach, Florida) Rwonciliation of the Halance Sheet - Governmental Funds to the Statement of Not Position September 30,2015 Fund balance - governmental fimds $ 9,390,211 Amounts reported for governmental activities in the sMitement of net position are diffewnt because: Capital assets used in governmental activities am not reported in the governmental fimd& Capital assets - net of accumulated depreciation 26 Deferred outflow of resources - reported as deferred amount an refimding 1,317,271 Long-tenn liabilities are not reported in die governmental funds. Compensated absetices (:75,016) Bonds md notes payable CI - 3_27 1 -'1 62y) Net position of governmental activities $ 16 482 839 11n: notes to the is financial statements am an integral part of this statemcm. 12 BOYNTON BEACH COMMUMTY REDEVELOPMENT AGENCY (A Component Unit of die City of Boynton Beau% Florida) Statement of yes, Expenditures and Changes in Fund Balances Governmental Funda For rise Year Ended September 30,2015 Total DebtSarvice Govenumental REVENUES Ggeril Fund -- K!RjEEkEMd Fund Faa& Tax incrounmt revenue S 8,317 8,317,8458 0targm for servicas 1,256,324 1,256,824 Interest. and offer ' o 1211 _2 2 06. 4-1,597 Total revenues 9,586,803 29,425 9,45 1 8,28 9 EXPENDITURES General governniont 2,713,001 2,713,081 Radcrettopincnit pElJocts 1,932,634 1,932 Debt service: Rincipad 1,175,595 1,175,595 Intenst AM other charsas 521,264 521,164 Capital Outlay 13,226 1,100,623 Total enlaulitures 2;726,307 3,020,031 1,696,850 7,443,197 Excess (deficiency) of revenues ova (undar) expanditum 6,860,496 ('-U9006) (3,123,63311 75,092 OTHER FINANCING SOURCES (USES) Trarkafm in 3,854,480 2,301,853 6,156,333 T fars out (6,156,333) (6,156,333) Rcfiuxft bcmds imiamd 5,tX)5,000 5,005,6w Payment to refin-Aed bond oactow agent - 16, -13,t35) - �1-815 a. To other finanning sources (uses) ( 6, 15 33 �,SL-54 80 §73 ,4 Nut cbmillp in fund bulances 704, 1 6-1 863,874 (821,7914Y) - 146,257 Fund balances - ingot 3 144 037 .6r1 „9 8 633, Fund belances - cnd of yew 3,848,200 5 465, 0 9 66 ?31 9 11 J The notes to die basic financial stidements are an, integral part of this statement. 13 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City ot'Buyntoy Beach, Florida) Reconciliation of the Sty exits of Revenucs, Experef tures and Changes ® Fund Balances - Governmental Funds to the Statement of Activities For the Year Fmdcd September 201 Not changes in fand balances ® total governmental finids $ 746,257 Amounts reported for governmental activities in the statement of activities no different because: Governmental funds report capital outlay expenditures. However, in the statement of activities, the cost of those assets is depreciated over their estimated usefid lives. Expenditures ft capital assets 1,100,623 IA*s current year deprcciation expense (149,205) Disposal of cWital assets (1,421,927) For governmental fands, the issuance of long-term debt provides current financial resources and the repayment of long-term debt consumes current financial resources, Neither transaction, however, has any effect on not assets. Also, governmental finds report the effect of premiums, discounts, and similar items when debt is first issued, whereas these sitiounta am dcf=d and amortized in Om shttement of activities. Principal payments on long-tenn debt 1,175,595 F�occcds firim bond issuance (5,005,ODO) Net paymeot to reftinded bond csrww agent 6,379,335 Amortization on defeircd amount on refunding (119,752) Some expenses reported in the statement of activities do not require the use of current financial resource and, therefore, am not reported as expenditures in governmental funds. Net change in long-term compensated absences. — ------------- 0,11.,g Charge in not position of governmental activities 2,687341 The notes to the basic financial statements are an inn egm! part of this statement. 14 Notes to the Basic Financial Statements BOYNTON BEACH COMMUNM REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Notes to the Basic Financial Statements September 30,2015 L SUMMARY OF 81GNIFICANT ACCOUNTING POLICIES This summary of the Boynton Beach Community Redevelopment Agency (the "Agency") significant accounting policies is presented to assist the reader in interpreting the basic financial statements. The policies are considered essential and should be mad in conjunction with the basic financial statements, The accounting policies of the Agency conform to U.S, generally accepted accounting principles applicable to governmental units. e accounting systerns and classification of accounts conform to standards of the Governmental Accounting Standards Board (GASB), which is the accepted standard-seffing body for establishing governmental accounting and financial reporting principles. The following is a sominaty o f th e more significant policies. A. Orgualzation and reporting entity The Agency is a component unit established by the City of Boynton Beach, Florida (the 'Vity'l under the authority granted by Florida Statutes 163, Section 111. The purpose of the Agency is to promote and guide physical and economic redevelopment in the City and part of Palm Beach County, Florida (the "Disttice) The Agency is a legally separate entity established by Ordinanoe number 8341 of the City on December 20, 1983. The Agency has adopted GASB Statement No. 61, 77m Financial Repaning Entity: Omnibus—an amendment of GASB Swearents No m 14 and ft 34, for the purpose of evaluating whether it has any component units. BasW on the criteria therein, the Agency has determined that there are no component units that meet criteria for inclusion in the Agency's financial statements, The Agency is governed by a board comprised of the members of the City Commission. The City is considered to be financially accountable for the Agency in accordance with GASB Statement No. 61, and therefore the Agency is considered to be a blended component unit in the City's comprehensive ammal financial report, B. Reporthig model The Agency's is financial statements consist of government-wide statementr., including a statement of net position and a statement of activities, and fund financial statements which provide a more detailed level of financial information, GovernMeg, — 3 -tmdde A sa it ttent The statement of net position and the statement of activities report information on all of the activities of the Agency. Govennnental activities are reported separately from business-type activities which rely on fees charged to external parbes as their primary revenues. Ilia Agency has no business-type activities. The statement of net position reports the Agency's financial position as of the end eft fi "- year. in this statement, the Agency's net position is reported in three categories-, net investinant in capital assets; restricted not position; and unrestricted net position. The statement of activities presents a comparison between direct expenses and progiian revenues for each function of the Agency. Direct expenses so those that am clearly identifiable with a specific ftction. Program revenues include charges for. services that are directly related to a given function and grants and contributions that are restricted to meeting the operational or capital requirements of a particular function, Tax increment revenue and other items not meeting the definition of program revenue are reported instead as gancral revenue. 15 BOYINI'ON BEACH COMMUNITY RIWEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Not to the Basic Financial Statements September 30, 2015 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICM (Candimed) B. Reporting model (Continued) Fund Fin ancialstate.gents For the fiscal year ending September 30, 2015, the Agency reports three major funds, the GencM Fund, the Debt Service Fund, and the Projects Fund. 'no General Fund is classified as. a governmental ftind and accounts for all financial resources controlled by the Agency, The Debt Service Fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term obligation debt. The Projects Fund amounts for financial mources to be used for redevelopment programs and the acquisition or construction of capital projects. The governmental fund statement includes reconciliations with brief explanations to better identify the relationship between. the government-wide statements and the statements for the governmental fina C. Measurement focus and bash of accounting The government-wide fmancial statements are reported using the economic resources measurement focus and tha accrual basis of accmtin& Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. The governmental fund financial statements are reported using the current financial resouires measurement focus and the modified accrual basis of accounting. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the Agency considers nrianucs to be available if they am collected within 60 days of the end of the current fiscal period- Expenditures generally are recorded when the related fund liability is incurred. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, am recorded only when payment is due. D. Cash and cash equivalents Cash and cash equivalents am defined as short-term highly liquid investments that are both readily conivertible toknown amounts of cash and have an original maturity of time months or less from the date of purchase. Cash and cash equivalents consist of petty cash and deposits with fmancial institutions qualified as public depositories under Florida law. All deposits are insured by federal depository insurance and/or collateralized with securities held in Florida's multiple financial institution collateral pool as required by Chapter 280, Florida ® Investments Investments made locally consist of amounts placed in obligations of United States Government Agencies and Instrumentalities, and are reported at fair value, 'As Agency is authorized to invest in direct obligations of the United States of America or any agency thereof, interest bearing time or demand deposits with any qualified depository institution, commercial paper, bankm' acceptances, state and/or local government taxable debt, mutual funds, repurchase agreements and the to Tmasurer's investment pool, which has the characteristics of a money morket fund. 16 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Conaponent Unit of the City of Boynton Beach, Florida) Notes to the Basic Financial Statements September 3 1. SUMMARY OF SIGN]IFICANT ACCOUNTING POLICIES (Continued) F. Capital asseh; Capital assets are defined by the Agency as assets with an initial, individual cost of $1,000 or more and an estimated useful life of mom d= one year These assets we recorded at historical cost Donated capital usets are recorded at estimated fair %-alue at the date of donation. Capital assets am depreciated using the straight-line method over the assets' estimated useful lives of all reported capital assets, except land and land improvements. Ike estimated useful life of furniture, fixtures and equipment is four tot years. G. Fund equity / net position Fu id Muiy GASB Statement o® 54, Fund Bahwwe Reporting and Governmental Fund Type Defialliom, establishes criteria for classifying fund balances into specifically defined classifications and clarifies definitions for governmental fund types. Fund balances for governmental funds are reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to on constraints on the specific purposes for which amounts in those funds can bes t, as follows. a Nonspendable fund balance - amounts that cannat be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact. • Restricted fund balance - amounts that an restricted to specific purposes when constraints placed on the use of resources ate either by (a) externally imposed by creditors (such as debt covenants), grantom contributors, or laws or regulations of other governments; or (b) imposed by law through constitutional provisions or enabling legislations. • Committed fund balance - amounts that can only be used for specific purposes punsuint to constraints imposed by formal action of the government's highest level of decision maldng authority. • Assigned fund balance - amounts that are constrained by the government's intent to he used for specific purposes, but are neither restricted nor committeil. • Unassigned fund balance - amounts that have not been assigned to other funds and that have not been rcstrict4 committed, or assigned to specific purpose within the geneW fund. When both restricted and unrestricted amounts are available for it is the Agenc3es practice to use restricted resources first. Additionally, the Agency would first use committed, then assigned, and lastly unassigned amounts of unrestricted ftmd balance. N kt-p—osiikm The government-wide financial statements utilize a not position preaentation. Net position can be categorized as not investment in capital assets, restricted, or unrestricted. The first category repmsents capital assets, less accumulated depreciation and not of any outstanding debt associated with the acquisition of capital assets. Restricted not position represent amounts that are restricted by requirement of debt indenture or enabling legislation. Unrestricted net position represents the net position component of the Agency which is not restricted for any pv6ect or purpose Wheit both restricted and unrestricted resources are available for - use, it is the Agency's policy to use unrestricted resources t and then restricted resources as they are needed, 17 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beacb, Flurida) Notes to the is Financial Statements September 30,2015 I. StWMAKY OF SIGNMCANT ACCOUNTING POLICIES (Continued) H. Bond premiums, discounts and issuance costs In the government-wide financial statements, bond premiums and discounts are defari:-ed and amortized over the life of the bonds using the straight line method. Bonds payable are reported net of the applicable bond prerniurn or discount In the third financial statements, governmentni fund types recognize bond premiums. and discounts, as well as bond issuance costs during the current period. The fhce amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts are reported as other financing uses. Issuance costs we reported as debt service expenditar-es in the firral financial statements and redevelopment projects expense in the government-wide financial statements. 1. Deferred outflows of resources The statement of financial position reports a separate section for deferred outflows of resources representing a consumption of net position that applies to a future period and is not recogni2rd as an outflow of resources in The current period. The Agency has only one item that qualifies for reporting in this category, the deferred charge on refunding reported in the government-widc statement of net position. A deferred charge on refunding results firm the diffm in the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortizeil. over the life of refunded debt. The current year deferred charge is a net effect of $241,463, which consist of the $361,215 deferred charged on the 2005B defcasance and the amortization of prior year current year debt of $89,651, and $30,10 1, respectively. L Revenue sources Tax mmment revenues am the primary source of revenue for the Agency, Tax increment revenues are collected from two governmental entities that levy property taxes within the legafly defined redevelopment am of the Agency, which is the City of Boynton Beach, Florida and Palm Beach County, Florida. K Compensated absences It is the Agency's policy to permit employees to accumulate earned but unused vacation and sick pay. Employees may, depending on their level of service and policy of the Agency, be paid for various amounts of their to accrued leave by the end of each fiscal year, upon termination or retirement. 7be Agency accrues a liability for leave hours did meet the criteria for payment at the eligible employees' current rates of }'- ® Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates we based on management's knorw1 of current events and actions it may undertake in the fature, they may ultimately differ from actual results. M. Reclasaffications Certain prior year amounts have been reclassified to conform to the current yeaes presentation. 18 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Notes to the is Financial Statements September 30 2015 2. CASH, CASH EQUIVALENTS AND INVESTAWINTS All of the Agency's bank deposits are insured by the Federal Deposit Insurance Corporation or collateralized in accordance with Florida Security for Public Deposits Act (the "Ace). Under the Act every qualified public depositary shall deposit with the Treasurer eligible collateral having a market value equal to 50% of the avenige daily balance for each month that all public deposits are in excess of any applicable deposit insurance. If the public deposits exceed the total amount of the regulatory capital accounts of a bank or the regulatory not worth of a savings asociatiaa, the required collateral shall have a market value equal to 125% of the deposits. The Agency's investment policy is designed to ensure the prudent management of funds, and the availability of operating and capital funds when required, while earning a competitive return within the policy ® The primary objectives, in order of priority, of investment activity shall be safety, interest rate risk, liquidity and yield. As of September 30, 2015 the Agency does not have any investments, 3. CAPITAL ASSETS Capital assets activity for the year ended September 30, 2015, was as follows: Balance at Deletions/ Balance at 9/310=4 Addiflom Tmnsfms 9/30/ Capital assets, not being depreciated; Land $ 23,150,744 $ 358,409 S (1,421,927) S 22,097,226 Constiuction in progress 1,910,234 369,982 (�15) 4 7 2 ----- - - ----- ------ LL,�4 1 ToW capital assets. not being depreciated 25060,978 7nn�391 .3 02� S22 5P2 067 .................... . . . . ............................. ..... . Capital asset,% ban depreciated: Building 1,531,272 1,531,272 Renovations 1,652,247 1,652,247 I.and Improvements 589,079 589,079 Leasehold improvements 147,145 - Furniture and Equipment 210 H (1 2 5 6 Total capital assets, being depreciated 2,009,f 0 2,2 a 10,607 4, 1,2 ........... Len accumulated depreciation for. Building (31,902) (31,902) Renovations (210,311) (57,360) (267,671) Land Improvements (22,909) (22,909) Lmschold Improvements (60,327) (12,655) (72,982) Furniture & Equipment I147 ,3562_ ___A24,379 71,735 Total accumulated depreciation �7,994) _ (149 205} _ �205 7,199 Total capital asses, being depreciated, net ... 1:391666 2,091,402 _1�16 3673068 Total capital assets, net of ------ accumulated depreciation S 26,652,644 2 80-9 7 2x,1112 135 j _, ._ Depreciation expense of $149,2-05 was charged to general government for fiscal year 2015. 19 BOYNTON BEACH COMMUNITY REDEVELOPM AGENCY (A Component Unit of the City of Boynton Reach, Florida) Notes to the Basic Fkancial Statements September 30,2015 4. LONG-TERM LIABILITIFS At September 3, 2015, bonds and lows payable consisted of the following: BONDS- 2012 Tax Increment Refunding Revenue Bonds dated October 18, 2012, due in annual principal installments of $143,OM to $1,530,000 through October 1, 2026, bearing an interest rate of 236 $ 15,026,000 2015 Tax Increment Refirading Revenue BomK dated March 26, 2015 due in annual principal installments of $360,000 to $725,000 through October 1, 2026, bearing an interest rate of 3.3%. 5,005,000 LOANS- Promissory note to Bank of America, N.A. at 5.65% interest, payable in semi- annual installments through September 20,2016. 23 3,'162 S 20,321,762 The anttual requirments to amortize bonds and loans payable outstanding as of September 30, 2015, am as follows- 2012 Tax Increment 2015 Tax Irisrernrit Fiscal Refund e Revenue Bonds Refil lateyest 2016 S 927,000 $ 384,666 30,000 S 165,165 2017 1,265,000 360,934 360,000 153,285 2019 1,300,000 328,550 370,000 141,405 2019 1,331,000 295,270 380,000 129,195 2020 1,367,000 261,197 395,000 116,655 2021-2025 7,306,000 763,418 2,415,000 379,005 2026 1,530,000 39168 725,000 23925 109,635 Bank of America, N. Fiscal Note llawble Totals i —ac-ip-a— PdnRjM—' 11 2016 $ 290,762 2 12,474 $ I,J'P),,762 $ 562,304 2017 1,625,000 514,219 2018 1,670,D2 469,955 2019 1,711,000 424,465 2020 1,762, . "1 377,852 2021-2025 9,7212 000 1,142,423 2026 2,255.000 3,09 3 9( �$1 7 20,39-1 $ 3,554,312 20 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Notes to the Basic Financial Statements September 30,2015 4. LONG-TERM LIABILITIES (Couttaned) The changes in long-term liabilities for the year ended September 3, 15 are summarized as follows Deletions l at ffiefmed Balance at 'Due within 9/30114 Additions Debt 9/30115 one vem Bonds payable $ 21,965,000 S 5, 5, S (6,939,000) S 20,031,DOO S 1,287,000 Plus deforred amounts For discount ------- --- 21, 880 21111880 _ Total bonds payable 21,943,120 5,026, 8,80 (6,939,009) 20,031,000 1,287,0W Notes payable 567,357 - (276,595) 290,762 2 90,762 Compensated absences 56,431 18595 75016 - Total long-term liabilities $ 22,566,908 S 5.0 5,46 $ (7,215,595') $ 20,396,778 $ 1,577,762 Fled &ed revenue The Agency pledges future tax incrernent revenues for the` s of bonds outstmding. The bond proceeds were used primarily for redevelopment projects, including property acquisition and redevelopment activities. These bonds are payable solely from the tax increment revenues through September 30, 2026. Principal and interest payments for the ctu=t year we= $899,000 and $492,482, respectively. The curreat year tax increment revenues for the fiscal ym was $8,317,&68. Principal and interest to he paid in subsequent yean totals $6,113,635 on the Series 2015 bonds and $17,459,203 on the Series 2012 bonds. ALanced ir-fundby g On March 26, 2015, the Agency issued $5,005,000 tax increment refunding revenue bonds series 2015 with an interest rate of 3.3%. The Agency issued the bond to advance refund $6,040,000 of series 2005B revenue bonds with interest rate of 5.1%-5. 65%. The Agency used the net proceeds along with other sources to fund an escrow account to provide for all future debt semoe on the refunded portion of tha2 S series bond. As a result, the 2005B bonds are considered defeased, and the Agency has removed the liability fi its accounts- The outstanding principal of the defeased bonds is $5,690,000 at September 30, 2015. The advance refunding reduced to debt payments over the next 12 years by nearly 1® million. This results in an economic gain (difference between the present values of the debt service payment on the old and new debt) of approximately $624,000. The advance refunding is summarized as follows: Bond proceeds $ 5,005,000 Payment to refunded bond escrow agent 1,428,835 Less. issuance cost C54,50�0 Net proceeds 6,3719 Canying amount of the Swiss 2005B Bonds 6,040,000 Lrss: unamortized discount Net carrying amount of the Scrics 2005 Bonds r. 0 Deferred amount on refunding S 361.,215 21 BOYNTON REACH COMMUNM REDEVELOPMENT ACYENCY (A Component Unit of the City of Boynton Beach, Florida) Notes to the Basic Financial Statements September 30, 2015 4. LONG-TERM LIABILITIES (Continued) ft�iqr W aLdefeasance ofA& In the prior year, the Agency defeased certain increment revenue bonds, placing the proceeds of new refunding bonds ins irrevocable trust to provide for all future debt servioc on the refunded portions of the increment revenue bonds, Accordingly, the trust account assets and the liability for the defeased bonds an not included in the Agency's financial statements. As ofSeptember 30, 2015, $3,000,000 of defeased bonds remain outstanding. The refunding resulted in a difference between the reacquisition price and the act carrying amount of the of debt, which is being charged to operations through 2026 using the effective- intenst method. 5. FUND BALANCES At September 30,2 15, the Agency reported the following governmental fund balances-. * Nonspendable fund balance - These amounts cannot be spent because they are either (a) not ins l form or (b) legally or contractuaBy required to be maintained intact. * Committed fund balance - these amounts can only be used for specific purposes pursuant to constraints imposed by the Board of the Agency. The items cannot be removed unless the Board removes it in the same manner it was implemented, * Assigned fund balance - these amounts am approved and constrained by the Agency's intent to be used for specific purposes, but = neither restricted nor committed. * Unassigned fired balance - These amounts have not been assigned to other funds and have not been 'restricted, committed, or assigned for a specific purpose. Below is a table of firad balance categories and classifications, by fund, at September 30, 2015: Debt General Projects service Fand Fund rFund ------ --------- Nonspendable 27,013 $ 28,520 $ - committed 160,412 804,049 66,231 Assigned 2,825,016 4,633,211 Unassigned 835,759 of _5LU8 20 S 65,780 $ 66,231 6. INTERFUND TRANSFERS During the fiscal year on September 30, 2015, the General F and transferred S3,854,480 and $2,301,853 to the Projects Fund and Debt Service Fund, respectively, The transfers made to the Projects Fund were to fired the costs of ongoing redevelopment projects. The transfers made to the Debt Scrvice Fund were to fund the annual debt serv'coo c di to payable. 22 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beack Florida) Not to the Basic Financial Statements September 30,2015 7. HOMEBUYER. ASSISTANCE PROGRAM The Agency established the Homebuyer Assistance Program to assist loco] residents with the purchase of a home by providing a subsidy in an amount not to exceed $50,000 per homeowner. The subsidy is secured by a mortgage, is is requited to be paid back only under certain circumstances outlined in the mortgage agreement. The mortgage is forgiven if the homeowner remains in the home dining the full term outlined in the agreement. The amount of mortgages receivable outstanding at September 30, 2015 totaled $1,394,672. Given the nature of these loans, collection is uncertain, and therefore an allowance for uncollectible mortgages has been established at 100% of the value of the mortgages receivable outstandin& Consequently these mortgages are not recognized on the financial ataftments. 8. RISK MANAGEMENT The Agency is exposed to various risks of loss related tot theft of, damage to, and destruction of assets; errors and emissions; injuries to employees; and natural disasters. The Agency purchases commercial insurance for the risks of loss to which it is exposed. Policy limits and deductibles we reviewed by management and established at amounts to provide reasonable protection flum significant ffirancial loss. Settlements did not exceed insurance coverage in the past three fiscal yam. 9. COMMITMENTS AND CONTINGENCIES A. Economic development programs The Agency established Economic Development Programs in an effort to promote the redevelopment of existing businesses located in the City as well as attract new businesses to Boynton Beach. These programs for commercial businesses include Facade Programs, RAmt Subsidy, Interior Build-Out and Signage. DurirW fiscal year 2015, the Agency closed. and disbursed $74,982 in Economic Development Grants. B. Lease commitments The Agency leases a building under a ten year commercial lean agreement with a remaining term of six years and base rent increases of 4% a year plus expenses for real estate taxes, insurance and maintenance of the property. The lease is non-cancolable until year 7. If terminated during years 7 through 10, the Agency is obligated to pay a portion of the monthly rent dependent on the termination year. Under the terms of the lease, the Agency was responsible for interior renovations totaling $88,000. The landlord will credit the Agency a total of $73,000 proportionately in years 8, 9 and 10 of the lease urdes the Agency terminates the lease. Rental costs for fire yew ended September 30, 2015 totaled $90,925. Future minimum lease payments are as fell ows- FisW year ending 2016 $ 86,040 2017 87,183 2018 89,874 2019 92,672 2020 95,583 Thereafter 98,610 23 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Flanda) Notes tD the Basic Financial Statements September 30, 2015 10. RETIREMENT CONTRIBUTIONS The Agency participates in a 401(a defined contribution retirement plan and a 457(b) deferred compensation plan (the "Plans"). 'Me Plans are qualified under Sections 401(l),403 (a) and 501 (a) of the Internal Revenue Code. The Plans are administered by independent trustees. All employees who meet the requirements are qualified to participate. Employces make voluntary contributions to the 457(b) plan. The Agency's required contribution is 5% of the total salaries of qualified participants. Employer contributions to both plans in fiscal year 2015 totaled $111,519. ® RELATED PARTY TRANSACTIONS The Agency is a blended component unit of the City of Boynton Beach, Florida. For the year ended September 30, 2015, the Agency's tax increment revenues include $5,181,655 received fi the City. In addition, the Agency reimbursed the City for services performed on behalf of the Agency such as recording, information technology services, landscape and maintenance services, festival expenses, human resource and payroU services, f acility rental and permitting fees paid during the year. Payments to the City for thew services during the year ended Septernber 3 totaled $93,063. 1Z SUBSEQUENT EVENTS The Agency evaluated subsequent events through December 7, 20 15, the to the financial statements were available to be issued, and does not believe that there are any such events or transactions that require disclosure. 13. NEW PRONOUNCEMENTS ISSUED Eirtring 2015, the Agency implemented GASB Statement No. 76, 7he Hierarchy of Generally Accepted Accounti nciples Seate and Local Gbvernments, the olgective of which is to identify, in the context of the current governmental financial reporting runrumment, the hierarchy of generally accepted accounting principle& The followurg pronouncements have rocenfly been issued by the GASB, bit do not or will not have a materia] impact on the financial statements of the Agency upon implementation: * GASB Statement No. 68, Accowaing and Financial Reporting for Penrions- an amendment of GASB Statement No. 27, which is effective for the fiscal year ending September 30, 2015. * GASB Statement No. 71, Pension Trawiflon for Contrilnuions Made Subsequent to the Measuremeat Date, which is effective for the fiscal year ending Septernber 30, 2015. * GASB Statement No. 7Z Fair Value Measurenzent and Application, which is efrective for the fiscal year ending September 30, 2016. * GASB Statement No. 73, Accounting and Financial Repot-fingftr Pensions and Related Assets That Are Not within the Scolm of GASB Stalement 68, and Amendments to Certain Provisions of GASB Statemev& 67 and 68, which is e ctive for the fiscal year ending Septearber 30, 2017. * GASB Statement No. 74, Financial Reportingfor P 6yment Benefit Plans Other Yhax pemion Plaw, which is effective fbr the fiwd you ending September 30, 2017. * GABB Statement No. 75, Accounting and Financial Reporting,for Postemployment Benefits Other Than Pensions, whichis effective for theflacal year ending Septerriber 30,2018. * GASB Statensent No. 77, Tax Abatement Disclosures, which is effective for the fiscal year ending September 30,2017. 24 Required Supplementary Information BOYNTON REACH COMMUMTY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beacb, Florida) Budgemy Caffiranoon Schedule General Fund For the Yew Ended Septanber 3, 2015 varlamewfth Fins] Budget en 1 POSI&e B Actuai REVENUES Tax inurement revenue S 8,100,000 3 8,100,0()0 $ 8,317,868 3 217,869 Charges for sarvioes 1,000,000 1.000,000 1,256,924 256,824 Interestandoffiffincome III 32,1 Total revenues 9,1N),00(, ,58(,,8Cr3 ... 486,803 EXPENDITURES GCWW government 2,943, 667 2 943,667 2,713,081 230,596 Capital Outlay - 13,226 13.7-211) Total expenditures 9 41 1 2,943,667 2,726 M,3650 Excess of revenues ovcr expenditures 45 35633 6�8,60.496 .. 6�M 104 163 OTHER FINANCING SOURCTS (USES) Cwrymw fund balanoc Transfas out jLjM &156 1 156,331 Total other financing somon (uscs) , 116,33 3) 15 3331 5 156 .333�) Net change in fund balances $ $ 704,163 704,163 Fund balances - beginning of year 3 : 144 w ' , Fund balances - end of year S 1 848,200 The notes to the Eltidgetary Comparison Schedule are an integral part of this schedule. 25 BOYNTON BEACH COMMUNITY REDEVELOPM]ENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Notes to the Budgetary Comparison Schedule September 30,2015 1. BUDGETARY INFORMATION The Agency is required to establish a budgetary system and an approved annual budget for the General Fund, Debt Service Fund and Project Fund, The Agency's budgeting process is based on estimates of cash receipts and cash expendifirms w1dch am approved by the Board. In accordance with generally accepted accounting principles, budgetary comparison information is disclosed only for the General Fund. The budget is adopted on the modified acantal basis of accounting, consistent with generally accepted t® principles, with the exception of compensated absences. Compensated absences are budgeted only to the extent expected to be paid, rather than on the modified acenial basis. Any budget amendments ti the aggregate budgeted appropriations must be approved by the Board, The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. 26 Compilance Section SKJT',G CERVF41) PUBLIC ACCOVIVIANIS & CONSWARIS SM X111% Jacmaim, Tandbe & GWINET& LLP 5805 Blue Lagoon Drive I Suite 2201 Maud, FL 33126 Teh (30S) 633' Far. (305) 265-0652 1 www*tg-cpz,com Independent AndiWr's Report on Internal Control Over ffiluancial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statignents Performed In Accordance With GovernmentAmAhng Standanis To the Board of Commissioners Boynton Beach CAmamunity Redevelopment Agency: We have audited, in accordance with the auditing standards gmerally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Mandanis issued by the Comptroller General of the United States, the fi nancial, utatements of the governmental activities and each major fimd of the Boynton Beach Community Redevelopment Agency (the Agency), a component unit of the City of Boynton Beach, Florida, as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Agency's basic financial statements, and have issued our report themon dated December 7, 2015. Internal Control Over Financial Reporting In planning and performing ow audit of the financial statements, we considered the Agency's internal control over financial reporting (intemal control) to detmmmine the audit proced=s that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of eqmwing an opinion on the cf&cdvcncss of the Agencys internal control. Accordingly, we do not express an opinion on the effectiveness of the Agency's internal control. A deficiency in inurnal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned flinctions, top t, or de W and correct, misstatements an a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that them is are nable possibility dW a material misstatement of the entity's financial statements will not be prevented, or dab=ted and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit afteration by those charged with governance. Our consideration of internal control was for the limited purpose described in die first paragmph of this section and was not designed to identify all deficiencies in intemal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. Howuver, material weaknesses may exist that have not been identified. Compliance and Other Matters As part of obtaining reasonable assurance about whether ffic Apency's financial statements are free from material miestateineut, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant ag=ments, noncompliance with which could have a direct and material effret on the deterzoination of financial statement amounts. Howevw, providing an opinion on compliance with those provisions was not an objective of our audit, and accordmgly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that we required to be reported under Gvvernment Auditing Standards. 27 Purpose of this Report The purpose of this report is solely to describe the scope of our tuting of internal control and compliance and the results of that twftg, and not to pruvide an opinion on the effe0fiveness of the entity's internal control or on c=pliance. This report is an integral part of an audit performed in accordance with Government Auditing Stamiank in considering the entity's in al control and compliance. Accordingly, this communication is not suitable for my other pimpose. AA December 7, 2015 28 G' CMEMO PUBLIC ACCOONH NFS K CONSU00, Smam n) Tandw a Gamur.% LLP 5809 BlUe LWon DriVe I Suite 2201 Njault FL 33126 Teh (305) 269-8633 1 F= (SOS) 26.5-0652 1 wwwalft-cpacom Management Letter in Aftordance with the Rides of ike Anifter Gemend of the State of Florida To the and of Commissioners Boynton Beach Community Redevelopment Agency. Report on the Financial Statments: We have sudited the financial statements of the Boynton Beach Community Redevelopment Agency (the Agency), a component unit of the City of Boynton Beach, Florida, as of and for the fiscal year ended September 30, 2015, and have issued our report dated Decenibm 7, 2015. Auditor's ResponsiblUty We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Audidng Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of Florida Auditor General. Other Report We have issued our Independent Auditors' Reports on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Perfmmed in Accordance with Government Auditing Standanh. Disclosures in that reports, which is dated December 7, 2015, should be considered in conjunction with this management letter. rrior Audit Findhigs. Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not coautivc actions have been talm to address findings and recommendations made in the preceding annual financial audit report. There were no findirigs or recominendations niade in the preceding annual financial audit report. Official Tiffe and Legal Authority Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements, Such disclosures are made in note I(A) to the Agency's fluanciai statements, Knonefal Co lion Section 10.554(1)(i)5.&, Rules of the Auditor General, requires that we report there is of our determination as to whether or not the Agency has met one or more of the ouriditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In connection with our audit, we determined that the Agency did not meet any of the conditions described in Section 218.503(1), Florida Statutes. 29 Pursuant to Sections 10.554(1)(i)5.c. and 10.556(8), Rules of the Auditor GeneW, we applied fin condition assessment procedures as of September 30, 2015. It ism is responsibility to monitor the Agency's financial condition, and our financial condition asse was based in part on representations made by management and the review of financial information provided by same, Annual FlInamcfid Etzpert Section 10.554(1)(i)5,b., Rules of the Auditor Genezal, requires that we report the results of our determinshon as to whether the annual financial report for the Agency for the fiscal year ended September 30, 2015, filed with the Florida Department of Financial Services pursuant to Section 218.32(I)(a), Florida Statutes, is in agreement with the annual financial audit report for the fiscal year ended September 30, 2015. As of the date of our report, the Agency has not filed its annual fmancial report with the Florida Department of Financial Services. Uther Matters Section 10.5 (1)(i)2., Rules of the Auditor General. requires that we address in the management letter any recommendations to irnprove financial management In connection with our audit, we did not have any such reoDmmendations. Section 10.5 (1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or arc likely to have occurred, that have an offect on the financial statements that is less than material but which warrants the attenti(m of sec with governance. In connection with our audi% we did not have any such findings. Puqmse of ffib loetter Our management letter is intended solely for the infizmation and use of the Florida Ugi"ve Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor n the Board of Directors and management of the Agency, and is not intended to be and should nort be used by anyone odw than these specified parties. 041�- Xpa t"79;4- ho December 7, 2015 30 BOYN BEAC RA ADVISORY BOARD CRA ADVISORY BOARD MEETING : April 7, 2016 AGENDA ITEM: VIIB New Development Project Ocean One Development — 222 N. Federal Highway BACKGROUND: The former Bank of America site located at 222 N. Federal Highway is located on the east side of Federal Highway between Boynton Beach Boulevard and Ocean Avenue. The property owner recently submitted to the City a rezoning request from Central Business District to Mixed -Use High and a site plan application (See Attached Site Plan). The applicant, Davis Camalier of Ocean One, LLC is proposing to utilize the CRA's adjacent property on the corner of Boynton Beach Boulevard and Federal Highway. The CRA's property is .482 acres (See Attached Survey) and is appraised at $460,000 (See Attached Appraisal Summary). At the March 8, 2016 CRA Board meeting, the Board accepted Mr. Camalier's Letter of Intent for the CRA's property for $10.00 (See Attached LOI). The statutory Notice of Intent to Dispose of Real Property is in process and a Purchase and Development Agreement will be brought to the CRA Board in May for consideration. The proposed project is not eligible for full review by City staff at this time as the CRA does not have the legal authority to sign off on the rezoning and site plan application until the property disposal is complete. The proposed project is mixed -used on 1.98 acres. The applicant is proposing 230 residential units in an 8 story building with a parking structure. Currently, the applicant is proposing 2,675 sq. ft. of commercial. With regard to height and density, the project conforms to the adopted Federal Highway Corridor Community Redevelopment Plan that permits a land use change to Mixed -Use Core and a zoning change to Mixed -Use High. The permitted height under the zoning is 150' with density per acre of 80 plus a 25% bonus for being within the Transit Oriented Development Area for a total of 100 dwelling units per acre. OCEAN ONE SITE PLAN 'tad #�v' xr w Nt Ki m U �9C it AIX w � 6R o..00a u 000aocosggo� u poll d In � U c7 ['16h ca U MEW M ill flog oe.. cv, cargo oq.,gogW v a v om� F o Z W Qwn Q U Q N m— U A ■ mQF R I NIP gl E I w R 29 p low 22 zsq iw I W-81i -- - - - - - - - - N is e R.2 IME.0 D a l l idol 1 51 - 2 2111 1 11 11 Rai OJf LO - - -- ----------- BOYNTON BEACH BOULEVARD � � uT rnv f Q � N89- LIN WMIN 27.43�43 W38"E - - ------- - R 0 D 15 LOT wn AGV - ----- - -- -- 4T m If W Iv- LOT 2 1 W 25' pf TWM 4 LOT 3 1 LOT 4 0 airy i uj LOT 5 - " - A - G - M - E - M - EN - T - PL - AP (PB. 10, PC. 23 "F ADDITIO"" 9L LOT a 4d, lu vi UA 0 12 '0 e el z o +A 2 F < dot p L1 .0 z p Z 4 o 0 0 "AGREEMENT 1 AT" 8� 0, 7 V OT • (p 401 DEWEY'S SUBMISION" 0 of� (P.H. t PC. 379 0 1 j 125 1p io Ag T R J.I&LjRgT 41 ® ® ® L-W. P-61, .01. OCEAN AVENUE (SR 804) . ............. -- ----------- ALx SM I vd 7i�I Ad i r-� p Ia 3 u u i� s 1 1 a t ?,z i , , € & XI I4 a RR a lll I � I 3 ° Z N Z 6d6E m°S66 91m wPg g .,..; .... ys RI5S8: %gone ------------- d %looax4iv vu quo ® .� L I I I r r _________ _____ ®________' i r I Y _ ! y R` 6a A - - - - -- Wi g i i -------------------- - - -' I ! Vhf i ZL— I _._._e_m_._. - - r - 910% appoydoolin pm1m wa wsg °a id �.� �. _______. cq Yd 'SPOINNY AV H Esc • U l! . MOO M9 3N I s - i fin Tr 771 i I IJ s _ I I 6 _ 1 r , ! I _ 1 52 I I__ t ---------- - - ------- m l bN AVMHDIH Sfl € -oE 98.6€€ is ` ;-sFx 8 S Rim m g 96 yd ' 'DOSSV V VS0NI3M9-MVKG3R'dd-XHH0D 'quo uaaoo�fv f - - - E I I I U d.kE 1� I zl ' f � � A Fs ! €� ° e I Rik EB r _ ! I 0 I I t Guo Ea p 3 i E II y I I II r � LH p m OP 4 VN AVMHOIH Sn fifi fiE-M-WE 91KE wMald 49 XWX S 92MAVK OE Lf) e SSA' U i t I � � ! F - -- ........ . Y. r -- - - - `r_ _ -� -�Jy u_ -WV'.`.`...`.`. "'R "t rA[ W m t Y v 4 -- i � I JII n I _ I 1 I 5� t L - ON ALVWDIH M dd rB 7f�I A tO 'quo UBOOO ' SSA T VSOK13NH , ! _..�... ...... ARM vim ,r 4 �r ® 4 � I I i a . FMR f I41 mm I ._ 1 , PS.40 Nft aft 'I WNM L U I I`I I I p cc 0 , I CC WON W*N POM PAR WOR I C � F j ± KEW &M VON I I I I L IDN AVMHJIH M I i .... .. -------------- m .. r °9a°3`UE 96K£ •P ie[ ° a®uM _.. °. sgg �SsS[ ''M _ $ ._ = N 0 Yd cri ' SSA I 8 ba ER ion �4 a ia El 3 a f . C5 - B �' 9 4 i' r; e i� t r t A {�`' ji ro .n• k _ 1rK c 3 , r CC 9 8 R ° Yd S7"1! , MOO MW NOMM AWNWESd F e t mit �� 45 A91 f I I I j I I j d6Ha -- t I I I .0 - b_ - �B_.61 ,6_.N - A W R I; S m S I r rciul I 1 � I � r I I z € s � Il�a I OE Asa ®._.— ®.-------- - - - ....... ........ -- + 'l M{ ®1 ',kVffHVH WHRMUN W E Yd l Guo o t .B +- N i 8Nn I d ° :9NP1 i jai HIC .91 I a I r I r �a ° I ax3.'r i e '�8 x.ues3aaxa � ,'� Pa mA �� m � as � ,a �} ® nod a � �& ,� �.a a� �� ;� � •' :a -.w" .w.r; s -��,s ,�. u'�� -. - s ° x .a".c �` ° �`a -,p? ,� -.m .� -F °w �• 5 �_: •a �.c �.e -a l 6M.9m.SK Km • Td B m' ° lk� vd %wailvaiv °AV N au quo UBODO possy v Ysoxioxg u� ,�r 5 u pE .wo MOW r m � i r it S .1W�uk' yj } J w.rnwuuw.mu:s.�wuuawawwww ' � J a. I 666 6-M-SK 4S 'M yd AW 'n-wilv l 1 ll 1 Quo U9800 I I' J I I i i s � i rr 'f � al IIs w AW „ u , a' �- i e dd `paqu 6' bN kb y . DOW T vsONION9 - Wwaam - MaHOO VW MKM AUVNVFELW� ,f R IL Ra r till £ s- ati« 11 t r , 011 W , k G5 'IVA v im � t c�< ,F � 1=1'H3V38 NOINAOSAMHON 7vWR(E=FN % I Vd 'S�Oslmj:� NO NV900 u ILUrA :H0=1 ND183a AHVNIWI 'jm N vmNm-Wftm3H-N3Hm EE B 31 I I L I IN No I N a o i t g Fill a pie I I'l 1 11 9 4 1 I N N F lie a IN N 1 �g gd °Y R � Rj€ a aa! ° g 6 � � 5 � €Ye Y g a s HIM 81 d 9 N N 2 kl; I 1 11 la 11 b ' 1 1 - Mgt s ig 11 1 . 85 Y 1 1 111 11 1 1 1 1 11 1 1 1 11 g ill III g1l I IN I I 1 1 It 6 1 1 $ I fill 1 111 111 1, 1 H I H U11 11 1 1 1 1 4 1 41 41fis '111 1 11 11 No .11 ul I IN I I'll IN J i g 11 H HIM go it S E gg I I F v p Ila Z E M N t ;,I I I lu 1 BI MEN I gi p p ull. 1 1 m 11 au 1I rl 1 HI 1 BI! I w 11 1 4 1 m fi 01111 H.1 I .. . . .................................... V 'S}O&�!qo-jv 3NO NV200 W0114 My V vSOmDm.WAGBW-NH3 C A% NO M20 AHWdNn3ud I Y 9 9 n Q DNA Ell 1 M 1 I H Elio" 1101 HE 1 1 1 9 URN oil I I RN - I pa I I too mulus 110 M W mpg pi I I oil I A I NO HH1,11 R l ull i I N onni 01 z 1 1 Ion, 0 §1 h I H 9 Im ISO 1 0 g ill 1 11 lam ph NVId IONINOO NOUVINBRIG39 UW NOISO'd - U'HOVBe NOINAOSUMMOBFI TVd3Cr3d'N V1 vd 's;oG�jqojv 3NO NV330 - jossv 2 2 uj JLUI 110- 4 N01930 ANVNIVIrSUd PIIIttt ffi 1111 P r. -------- ----- - - - - - - - - - - - - - - - - - - - - - - - t a ;CIAIB HO 8 N01"Ou ----- ----- 3 Ll U 'I d 2— A 's. IM — kp 611V13a MUINOO NOLLVINMaRS aNV Noisma 8 1A Novae NOINAOGUMNSIH nagJ'N K Lj Vd 's4oa�tqojv MSSY 4 VSOM3N3-NVf4M-N31W UJOH(((wlliw,-i CN I N l g s I it s IR Z 1 h i l 1 l 1114 111de Moll oil t� Nv1d NDWIOV43CI F Z C) H' z V.9 00 CD '831 ' HOv3s NO INA OS MN SIM 7 , 03A N 111 0 0 V:13 cv') q jv I N IN UJOH((( 1wrA 99 41W A L -AL lit o il fl r 19 4 11' 'fie i o o Al ----------- aukr M n�w.�o.o.wr. _ .••ns a:ss roa n se®e w $ u `HO B NC).LNAOi3AVMHSIH ®3i 'N K 4 n �SSY YSflNbN3 • NYN93iU• I13O :HOA NOIS30 AMMIN113Ud [ I 6d`�a YtlYY I i 95 dab �� ���a a19r a ammgxs� � `axx� xa 6 rfg i It6�ati Ri G .a o t 'GA - 1 MM yy � ¢ K F aP"NT •�YFl11N( NOJAAOS §p t " A ll I CI q .. i . L I —' —�- ri �! j o isN I s s ! �il` al I I :: a ll p o — —L ' Ir it Ir his I N N O 1 11 11 oil 1 9 a k A 1 91 9 M ' N ' I n g Ili, al 91 4 41 ofli 1 919 , MIN G) IA hi Del P1 y ri he i | / | - W 'HOV30 NO.LNAOQ'AVMHE)IH WMM31 'N t4 �j �Q L WIN gem :MOJ NOWE Ra i L) Oi IF, NVId A.LnLLn I - U'HOV39 NOiNAO8,kVMHO1H 1"3(33:1 J � LL V,J uj BNO NV 0 :uod Nsis3akwNtwn3Ud ' If 1 V ) kwovm NO'N — — — — — — 71 - - - - -- - - - - - - V A oi l 1,T I Y LL J-1u �J'71�3NIJ,11 C)o N C" ' Dim 777 — w n — - 1j'Hovag N TVd3G3:1'N kI 3NO NV330 V& S;Dq;!L10-jv UlOH((( 1w.rA :MO21 Nols3a)'b"InMud r A J M 17 -.4 Rom ID— I Ell bill !,L L ITT L—J Qc n4 , fill lip HEN 0 RUH R mu M 9M QWQO NOUMMSNOD C5 "s Vd 'SP8VL40-jv Aid. L110H [wr 9NO NV300 ;HDJ Now3c AumwnMd W I N wl 1 4 Hill pi It OUT N d d 0 It / '180.4 N01930 At"InrMSEUd PTT .......... ..... gy P Its j t h ot if i I V Ng W71 I Ills: �1111 coal 0 a IIIII Iloilo I 1 011011 111111 MU111111 coca - I cam go !§! 1aR03 H19 '3'N ELMS tin !I any eEePO! &A I �s. r it SM 1106 Hal 0 .K C13Yd .6 s I h pp f Pp i ■ i V A h Y, :i <aE9 a< a�Ecaaai f R UNS p g I .38 5 �'��s6 �a ®Qp6Ygis 222Z 1 lilt — -'� � of 6i•� �t� ,� +^ ®® � aEl�a��i�a #�l Qi , 1 'nrl 2` w FFp6y y E ®w I ` a !• J � � { w N 2 ' Sax r 9 N i b 3a y ! ° � x £ 9 all � °� �aq z p q a 6 "A ¢ Y i w� 'a 4� I E 1 L Q , q . M� ®.£O.lON' e g4�9 ° • - +. ` ' 4� °- „n� r • a w `ou. 'Ju I "� - -- ap -- -- ---- o9t !)d I °$gs HO nea AmmnsAlbi3clONd "0 CRA PROPERTY APPRAISAL 222 N. Federal Highway AN APPRAISAL OF VACANT COMMERCIAL PROPERTY LOCATED AT 222 NORTH FEDERAL HIGHWAY IN THE CITY OF BOYNTON BEACH, PALM BEACH COUNTY, FLORIDA FILE NUMBER 15-74029 PREPARED FOR BOYNTON BEACH CRA AS OF DECEMBER 30, 2015 Y STEPHEN D. SHAW, I CAL WAY & PRICE, INC. Eallaway & Price, Inc. Real Estate Appraisers And Consultants www.callawayandprice.com Since 1970 Licensed Real Estate Brokers Please respond to the South Florida office E -Mail: sds@cpwpb.com SOUTH FLORIDA 1410 Park La ne South, Suite I January 5, 2015 Jupiter, FL 33458 561.686.0333 1561.686.3705 Fax Michael R. Slade, MAI, SRA, CRE Cert Gen RZ116 mrs@cpwpb.com Theresa Utterback Stephen D. Shaw, MAI Development Services Specialist Cert Gen RZ1192 Boynton Beach CRA sds @cpwpb.com 710 North Federal Highway Robert A. Callaway, MRICS Cert Gen RZ2461 Boynton Beach, FL 33435 me @cpwpb.com TREASURE COAST Dear Ms. Utterback: 1803 South 25` Street, Suite 1 Fart Pierce, FL 34947 We have made an investigation and analysis of the .48 -acre 772.464,8607 1772.461.0809 Fax vacant commercial property located at 222 North Federal Highway Stuart: 772287.3330 in the City of Boynton Beach, Palm Beach County, Florida. The Stephen G. Neill, Jr., MAI Subject Property will be further described both narratively and Cert Gen RZ2480 s.neill@callawayandprice.com legally within the following Appraisal Report. The purpose of this investigation and analysis was to provide our opinion of the CENTRAL FLORIDA Market Value of the Fee Simple Estate of the Subject Property as 2816 E. Robinson Street of December 30, 2015. Orlando, FL 32803 Phone (321)726-0970 This report has been prepared for our client and intended user, Fax (321)728 -0384 Boynton Beach CRA. The intended use is to assist the client for Curtis L. Phillips, MAI internal decision making. The scope of work performed is specific Cert GenRZ2085 to the needs of the intended user and the intended use. No other clp@cpmel.com use is intended, and the scope of work may not be appropriate for other uses. SPACE COAST 1146 Based upon the scope of the assignment, our investigation and Suite analysis of the information contained within this report, as well as indialantic, FL 32903 Phone (321)726 0970 our general knowledge of real estate valuation procedures and Fax (321)726 -0384 market conditions, it is our opinion that: Curtis L Phlllips, MAI Cert GenRZ2085 The Market Value of the clp @cpmel.com Fee Simple Estate of the Subject Property of December 30, 2015 was: $460,000 LETTER OF INTENT FROM OCEAN ONE .... . ..... 6tk .......... YW, March S, 2016 Ms. Vivian Brooks Executive Director Boynton Beach CRA 710 N. Federal Highway Boynton Beach, FL 33435 Re: Boynton Beach CRA Property for Ocean One Southeast corner of Boynton Beach Boulevard and Federal Highway ("Property") Dear Ms. Brooks On behalf of the Property owner, Ocean One Boynton, LLC ("Property Owner"), I appreciate your time in considering this submission to redevelop the Property referenced in this package, with an 8-story, 230 residential unit and 2,675 square feet of retail mixed use project ("Project"). My client believes in investing in urban redevelopment and is especially excited to work with the Boynton Beach CRA in an effort to accomplish the goals of the City and CRA's strategic plan by reclevelopingthe site with the Project. The Project will contribute to the redevelopment of the area by not only providing a significant investment into the community by creating jobs and increasing the tax base, but by providing upscale retail as well as brings new upscale housing downtown to the area with more disposable income for the surrounding businesses. The Property Owner owns the larger property to the south which is immediately adjacent to the Boynton Beach CRA small parcel. By consolidating the parcel, the CRA will end up with a unified development covering the entire block. The Project is the first phase of redevelopment of the overall block. More commercial and residential is planned for the second phase. To construct the Project, the Property Owner is seeking the support and approval of the Boynton Beach CRA to sell its parcel to the adjacent owner. The parcels collectively contain approximately 86,309 square feet or 1.98 acres, and are located at the southeast corner of Federal highway and Boynton Beach Boulevard, Boynton Beach, Florida. Land costs for the assemblage have turned out to be far in excess of the market value of the land itself, therefore Property Owner is proposingthat the CRA sell its property to the Property Owner at the nominal rate of ten dollars. Attached to this request are the proposed elevations and site plan for the Project as well as the folio cards and an aerial showing the location. If you need any additional information, please do not hesitate to call. Sincerely, Bonnie Miskel, Esq. BM/rmm 'I— 'S' 41 h '5"trf?"'Q "E"."t'i I , i "36, 3oc R nt""vr� f- o 0 5t - '3' 3 "") Cl Fo 1 56, 4 - 2 . h ,ix: na,a B E AC H i,, C R A ADVISORY OAS CRA ADVISORY BOARD MEETING : April 7, 2016 ITEM: AGENDA VIIC New Development Project — Riverwalk —1532 S. Federal Highway The Riverwalk project is located at the southeast corner of Woolbright Road and Federal Highway. The site was home to the former Winn -Dixie grocery store. Walgreens, Joann's and several local businesses are still located on the site. The site is 9.86 acres and the proposed project contemplates the removal of the former Winn -Dixie building and developing a mixed -use building with 328 residential units and 1,596 sq. ft. of commercial space. The existing Walgreens /Joann's building will remain and get facelifts to match the design of the new proposed building. A new commercial building will be built on Federal containing 4,666 sq. ft. There will be outdoor seating for the two retail spaces to encourage restaurant uses. Additionally, the drive -thru for Walgreens at Federal Highway will be screened with a decorative wall. Permanent public access to the Intracoastal will be created with a public easement along the east side of the project. The developer will create a boardwalk with water features, landscaping and seating areas. There is a small restaurant space with an outdoor dining area planned. The plan also provides for additional an outdoor dining area on the waterfront for Prime Catch. The project is requesting a land use change from Local Retail Commercial to Mixed -Use and a zoning change from Community Commercial to Mixed -Use Low 3. This request is consistent with the adopted Updated Federal Highway Corridor Community Redevelopment Plan. The developer is requesting additional height for the new building but is below density on the project due to site constraints from the existing retailers. t SIMMONS & WHITE 2501 Metrocentre Blvd. W. Suite 3 West Palm SeaCh, Florida 33407 www,simmonsandwhite.com 56 1.478.780 1 F 561.470.37 certificate of uthori atio Number 3452 EMBIKEERING i PLANN 1 C011SULTIris i S IMCg 1311 [AND USE PLAN AMENDMENT APPLICATION RIVERWALK PLAZA 9.86 ACRE SITE BOYNTON BEACH, FLORIDA L. TRAFFIC STATEMENT � ®111 - - F t I I f 111 ® Z os Prepared fbr: 4� ® Iy`calV ., , ;:: i S TATE F ;+ J.sram Realty Group r .. 506 S. Dbd Highwa sr • % --'I R1tA - "! $! N Hallandale Beach, Florida 33009 Job No. 15-122 1 � Bryan Kelley, P.E. November 9, 2015 L Registration N0. Rivelwo& Plaza Job No. 15 -109 Page f TABLE OF CONTENTS 1.0 SITE DATA ............................................................................................................... ..............................3 2.0 TRAFFIC GENERATION ....................................................................................... ..............................4 3.0 TRAFFIC ASSIGNMENT/DISTRIBUTION .................................»..................... .....................v........5 4.0 PEAK HOUR TURNING MOVEMENTS ............................................................. ..............................6 5.0 CONCLUSION .................... .. ........................ .. ...... ..... ... » ........ .. ........... .. ... .. ..... ...... ....... » .................. .. .... 6 I Rlverwalk Plaza Job No. 15-109 Page 1 1.0 SITE DATA The subject parcel Is located on the southeast corner of Woolbright Road and Federal Highway in the City of Boynton Beach, Florida and contains approximately 9.86 acres. Figure 1 presents a vicinity map. The Property Control Number for the subject parcel is 08- 43- 45 -33 -00 -000 -1370. The existing site development consists of 117,644 S.F. of retail, 7,889 S.F. quality restaurant, and 2,988 S.F, fast food restaurant with drive through. The proposed site redevelopment will consist of 326 apartment units, 41,970 S.F. of retail, 7,889 S.F. quality restaurant, and 2,988 S.F. fast food restaurant. The existing site access is not proposed to change. Access is currently provided via two right in, right out only driveway connections to Federal Highway and two full access driveway connections to Woolbright Road. The purpose of this statement is to determine the long range traffic Impact of the proposed land use plan amendment. FIGURE f a r. 1. Vicinity Riverwalk Plaza o uroe: Google 2015 Riverwalk Raza Job NO. 15-109 Page 14 MENOMONEE= 2.0 TRAFFIC GENERATION The increase in daily traffic generation due to Me requested change in the 9.86 acre parcel's land use designation may be determined by taking the diflierence between the total traffic 'generated for the under both the existing C3 future land use designation and the proposed MUL-3 future land use designation. C3 The City Comprehensive Plan allows for a floor area ratio (FAR) of 0.50 for general commercial. Based on the site consisting of 9.86 acres, the maximum allowable building square footage for the designated acreage under the existing C3 land use designation is 214,751 S.F. calculated as follows: 9.86 Acres x 41§§_Q _SF x. 0.50 = 214,751 SF Acre The above is shown for informational purposes. The trip generation analysis documented in this study is based on the existing and proposed site development and not the maximum potential development. The existing use traffic may be cakulated in accordance with the rates provided in the ITE Trip Generation Manual, 9 th Edition ass in Tables 1, 2, and 3 attached with this report. Table 1 shows the daily traffic generation associated with the vested use. Tables 2 and 3 show the A. M. and P.M. peak hour traffic generation, respectively. Based on an existing development consisting of 117,644 S.F. of retail, 7,889 S.F. quality restaurant, and 2,988 S.F. fast food restaurant with drive through, the traffic generation may be summarized as follows: Daily Traffic Generation = 5,770 tpd A.M. Peak Hour Traffic Generation = 142 pht (80 In/62 Out) P.M. Peak Hour Traffic Generation = 491 pht (244 In/247 Out) MLL-_3 The City Comprehensive Plan allows for a FAR Qf 3.0 and 40 dwelling units per acre. Based on the site consisting of 9.86 acres, a maximum of 394 apartments and 1,288,505 S.F. of retail could be constructed under the MUL-3 calculated as follows: 9.86 Acres x 4LDU= 394 DU Acre 9.86 Acres x M&M S x 3.0 = 1,288,505 SF Acre Rivennik Plaza Job No. 15 -109 Page 15 2.0 TRAFFIC GENERATION (CONTINUED) The above is shown for informational purposes only. As previously mentioned, the trafflc generation analysis provided in this study is based on the existing and proposed site development and not maximum potential development The traffic to be generated by the proposed development has also been calculated in accordance with the traffic generation rates listed in the ITE Trip Generation Manual, 9 Edition ass n In Tables 4, 5 and 6. Table 4 shows the daily traffic generation associated with the proposed plan of development. Tables 5 and 6 show the A. M. and P.M. peak hour traffic generation, respectively. The traffic to be generated by the proposed development consisting of 326 apartment units, 41,970 S.F. of retail, 7,889 S.F. quality restaurant, and 2,9 S.F. fast food restaurant with drive through may be summarized as follows: Daily Traffic Generation = 5,314tpd A. M. Peak Hour Traffic Generation = 257 pht (83 In/174 Out) P.M. Peak Hour Traffic Generation = 458 pht (262 In/196 Out) It should be no that with the intmduction of residential units to the proposed redevelopment plan, there will be some internal capture between the mixed uses. However, in order to be conservative, no internal capture was assumed. The net Increase in traffic, generation as a result of the change in use is shown in Table 7 and may be summarized as follows: DAILY = 456 tpd DECREASE A. M, PEAK HOUR 115 pht INCREASE P.M. PEAK HOUR 33 pht DECREASE 3.0 TRAFFIC ASSIGNMENTIDISTRfOUTION Since the net daily traffic generation results In a decrease of td , no additional traffic analysis is required. However, for informational purposes, the adjacent roadway links to the site and the 2040 volumes are shown in Tables 8. The distribution shown In the PROJECT DISTRIBUTION graphic is based on the current and projected roadway geometry, a review of historical travel pattems for the area, and anticipated travel patterns associated with land uses under the MUL-3 land use designation. As shown in Table 8, all of the links within the projecrs radius of development influence are insignificant and therefore meet applicable standards Riverwalk Plaza Job No. 15-109 Page 4.0 PEAK HOUR TURNING MOVEMENTS The AM and PM peak hour volumes at the project entrances for the overall develop ' ment with no reduction for pass by credits a shown in Tables 5 and and ma be summarized as follows: Directional Distribution ffdR§ I U AM = 130 / 215 PM ® 3851311 As previously mentioned, site access is proposed via two right In, right out only driveway connections to Federal Highway and two full access driveway connections to Woolbright Road.. Based on the turning movement worksheet attached with this report and the Palm Beach County Engineering guideline used in determining the need for turn lanes of 75 right turns or 30 left turns in the peak hour, no additional turn lanes appear warranted. Right turns are currently provided at both driveway connections to Woolbright Road. 5.0 CONCLUSION The total anticipated Year 2040 traffic and Level of Service "D° Standard for each link within the project's radius of development influence can be seen in Table 8. The proposed plan of development results in a decrease in daily trips from the existing site development. Therefore, the proposed plan of development will not have a negative impact to the future Year 2040 roadway network. Sol x: /d fficdrafna up 15100.rd R �V x r �q r � R o ®® -0004 0 0 0 0 4 O a ®a0 o0e f "' m ul n. FA sl d a r r N 00 ®QQ ro o 15 0 d d 0 r o d o u a LL u. LL €c_ u; u: tl bi ti cc dui uS N rs 0 t �` E IL - LL LL Q _ mi t e4 r N r 3 � Y 0 o b G O b O d a 6 0 0 - 0 4Q 0 1 . 0 000 -CAR O a 8 G o - p a LU lama IL a ui 0! Rik is r A r r rN 6 p ®® O 0 uj did b ce b d ® b C Iw V Q d A. O r w O r (n LU F a` LL LL LL n � r LO 4 4 co y CIJ r i z? :W 3 cq cq Y Ilk OD CID N ui ui U. U. CID J y y i Ln .. -elm MIS IS38OV3S r J W 96-1 96-1 cn r vi f � I 1 I k R U m v n • r CL ) L ZE PM m p m z K _ d ® co I L Cq r PO Ljj CD a �- r. .� +a- 1 XVIAHD CL r= r P .. 0 yi z z 00 i N a ac`5�d� c ry r — .2 u PUP a ® a a ? JK w a w m < z a 0 3 iio 3o N Q r r a i e i aug� n ffi L CL e `' 0 z r d w � 3 IL UJ .° CIO M Do lu bo a Do � I m a I i I vi W LL LID u jz H � I LL W li 0 ME i I i i o Iry i I i i i i I J w ra C5 0 CD kn R o Im cc t o t Ln Ln SIMMONS & WHITE 2581 Metracentre Blvd West, Suite 3, West Palm Beach, Florida 33407 —1til 0 561A79.7848 I F 561.476.3738 www.slmmonsandwhite.com SIMMONS WHITE Certificate of Authorization Number 3452 ENSINFERIND I PLANKINg I CONSULTINI I gI 1982 TRAFFIc GENERATION STATEMENT RIVERWALK PLAZA BOYNTON BEACH FLORIDA N N Gf94 Z Prepared for: M. 74006 Isram Rea4 Group 506 S. Dixie Highway oto • Hallandale Beach, Florida 33009 Job o.15 -109 Date: November 9, 2015 Bryan G. Kelley, P.E. FL Reg. No. 74OD6 r TABLE OF CONTENTS 1 .0 S17E ......................................................................... ............................... STUDY 2 -o PURPOSE OF ....................................................... ............................... .................................................... ............................... RADIUS L INFLUENCE ....................... ............................... 1 T ................................................... ............................... 5 CL SITE I ..................................... ............................... 7.0 CONCLUSION ..................................................................... ..............................5 t RiverwWk Plaza Job No. 15-109 Page 12 1.0 SITE DATA The subject parcel is located on the southeast comer of Woolbright Road and Federal Highway in the City of Boynton Beach, Florida and contains approximately 9.86 acres. Figure 1 presents a vicinity map. The Property Control Number for the subject parcel is 08-43-46-33-00-000-1370. The existing - afte development consists of 117,644 S.F. of retail, 7,889 S.F. quality restaurant, and 2,988 S.F. fast food restaurant with drive through. The proposed site redevelopment will consist of 326 apartment units, 41,970 S.F. of retail, 7,889 S.F. quality restaurant, and 2,988 S.F. fast food restaurant with an anticipated build-out of 2020. The existing site access is not proposed to change. -Access is currently provided via two right in, right out only driveway connections to Federal Highway and two full access driveway connections to Woolbright Road. For additional information concerning site location and layout, please refer to the Site Plan. 2.0 PURPOSE OF STUDY This study will analyze the proposed development's impact on the surrounding major thoroughfares within the project's radius of development influence in accordance with the Palm Beach County Unified Land Development Code Article 12 — Traffic Performance Standards (TPS). Generally, the Traffic Performance Standards state that a Site Specific Developmerd Order for a proposed project shall most the standards and guidelines outlined in two separate ffTests" with regard to traffic performance. However, the proposed site is located within the Coastal Residential Exception as outlined in the TPS. The TPS requires that a , trafflc study provide traffic generation and assignment throughout the Test 1 radius of development influence and projections of future traffic at the site access for a development Within a Coastal Residential Exception area. r Ail vil 04 e h 4 f' 'S ^ `` � 7 T -7 7 s Joe q W Am "m g �l1 "i ��LhM jr #51',4 141 Mal lk EI ! S } � � j � "! �` , €,RI3 ,1•v! +�{ �"`�rYy 3 ,l�� �. E 9 � ! � '. �_ a� '. i. a i` •� '� ^i' �+,. � 9th FLT . �` +' 6 Rlverwvlk Plaza Job O. 15-109 Page 14 3.0 TRAFFIC GENERAT16N The Palm Beach County Unified Land Development Code requires that for any application for a sites ific development order on property on which there is an existing use be subject to the Palm Beach County Traffic Performance Standards to the extent the traffic generation projected for the sites iflc development order exceeds the traffic generation of the existing use. The generation rates and capture rates of the existing use shall be updated to current pro forma traffic generation and passer-by rates and shall be used to calculate existing use traffic. T h e e xisting use traffic may be calculated in accordance with the rates provided in the ITE Trip Generation Manual, 9 Edition as shown in Tables 1, 2. and 3 attached with this report. Table I shows the daily traffic generation associated with the vested use. Tables 2 and 3 show the A.M. and P.M. peak hour traffic generation, respectively. Based on an existing development consisting of 117,644 S.F. of retail, 7,889 S.F. quality restaurant, and 2,988 S.F. fast food restaurant with drive through. the traffic generation may be summarized as follows: Daily Traffic Generation 5,770 tpd A.M. Peak Hour Traffic Generation 142 pht (80 In /62 Out) P.M. Peak Hour Traffic Generation 491 pht (244 In/247 Out) The traffic to be generated by the proposed development has also been calculated in accordance with the traffic generation rates listed in the ITE Trip Generation Manual, 9t Edition as shown In Tables 4, 5 and 6. Table 4 shows the daily traffic generation associated with the proposed plan of development. Tables 5 and 6 show the A. M. and P.M. peak hour traffic generation, respectively. The traffic to be generated by the proposed development consisting of 326 apartment units, 41,970 S.F. of retail, 7,889 S.F. quality restaurant, and 2,988 S.F. fast food restaurant with drive through may be summarized as follows: - Daily Traffic Generation 5,314 tpd A.M. Peak Hour Traffic Generation 257 pht (83 In/174 Out) P. M. Peak Hour Traffic Generation 458 pht (262 ln/1 96 Out) Its uld be noted that with the introduction of residential units to the proposed redevelopment plan, there will be some Internal capture between the mixed uses. However, in order to be conservative, no internal capture was assumed. The net increase in traffic generation as a result of the change in use is shown in Table 7 and may be summarized as fbifows: DAILY 456 tpd DECREASE A. M. PEAK HOUR 115 pht INCREASE P.M. PEAK HOUR = 3 pht DECREASE Rhvrwalk Plaza Job No. 95 -909 Page 15 4.0 RADIUS 00 DEVELOPMENT INFLUENCE Based on Table 12.B.2.D-7 3A of the Palm Beach County Unified Land Development Code Article 12 — Traffic Performance Standards, for a - net trip generation o €115 peak hour trips, the radius of development influence shall be two (2) miles. 5.0 PROJECT ASSIGNMENT Test 1, or the Build-Out Analysis, relates to the build-out period of the project and requires that a project not add traffic within the radius of development influence which would have total traffic exceeding the adopted LOS at the end of the build- out period. Table 8 and Table 9 show the projects assignment on all links within the radius of development influence. 6.0 SITE RELATED IMPROVEMENTS The AM and PM peak hour volumes at the project entrances for the overall development with no reduction for pass by credits are shown in Tables 5 and 6 and may be summarized as follows: Directional Disbibution IT—riRs INIQ] AM = 130 1215 PM = 3851311 As previously mentioned, site access is proposed via two right in, right out only driveway connections to Federal Highway and two full access driveway connections to Woolbright Road. Based on the turning movement worksheet attached with this report and the Palm Beach County Engineering guideline used in deter ' mining the need for turn lanes of 75 right turns or 30 left turns in the peak hour, no additional turn lanes appear warranted, Right turns are currently provided at both driveway connections to Wool bright Road. 7.0 CONCLUSION The proposed redevelopment has been estimated to generate -456 new trips per day, 115 now AM peak hour trips, and -33 new PM peak hour trips at project build- out in 2020. Since the proposed project is located within the Coastal Residential Exception area, the traffic study is not required to satisfy Test 1 or Test 2 as outlined in the Traffic Performance Standards. SK: x1docsWAodrWnageXtg9.1 5109 m 3 N � ION : r E w a la A M R tP� IR n i r 0 r:�rd w rya a n o 0 in v o 0 o o 0 0 0 o a o 0 0 0 0 a a a o 0 0 0 a d d c ®d CL w 0 m r o d 0 0 s Le dad d d i t r ei tt r M F h e tl r r r c7 LL LL � F � r w a C4 r ® IL e ra 3 O N p N C nl m q A m Q - n 0 0 o a p o o n a 0 0 0 0 0 00000 0 0 0 0 D 0 0 0 0 4 0 8 4 ui IL 2 d <5 O 5 00 A r Y SJ A .�.yy a f0 cl IS h G 4 C d O + + idJ rN i Ig q e m do's o �A LF x w r i9 LL, Il. IL IL LL LL LL, Ue 1 11(d id 9d wU) t Y P s LL Ll n R 16 LL �i LL LL - E �t ui ui LL a. LLI � � r 1 � . �+ ch sA 1n g 1- r i e 0 Y x ad k r 1 N 14 LO a IkVMHDIH - mm Lvn all u c z J u r t r 96-1 96-1 i i i T a v L M a Oil I S •-° _. i M _ r _ e _ r r to L8L, CD CD l) 9 r CD OU2 Rs 22 HUCZ IZ 9 Ei 0- Ot f so *wt dzef oi 3 l -P-1 "r": MR NN �4 0 311 ME HE t Mir R ww rt: mmw 44 We go 3: Sul I; 40 1 E z g 9 ca a 2 1 z . < 9 1 1 &ILIL RRROZ zo 22 22HOM 22 2 i s- � �I Cdr O P Sao des da ;;dda cs i Y m NMN b4 N W Q ! OQ NN .0 V LU ri w r r r W N H v 1 W W Y {ry Q { Q N ® 7 ® 6u W x F S2 ® d d m Jill B ill FE Q u M f s a m a x® FE DESCRIPTION OF PARCEL "A" COMMENCING AT A POINT IN THE WEST LINE OF LOT 1, AT A DISTANCE OF 50 FEET SOUTH OF THE NORTHWEST CORNER THEREOF; THENCE NORTH 89 DEGREES 41 MINUTES 13 SECONDS EAST ALONG A LINE PARALLEL WITH AND 50 FEET SOUTH OF THE NORTH LINE OF SAID LOT 1, A DISTANCE OF 83.00 FEET TO A POI (SAID LINE ALSO BEING THE SOUTH RIGH —OF —WAY LINE OF S.E. 15TH AVENUE); THENCE SOUTH 85 DEGREES 32 MINUTES 58 SECONDS ALONG THE SOUTH RIGHT —OF —WAY LINE OF SAID S.E. 15TH AVENUE, A DISTANCE OF 431.12 FEET MORE OR LESS, TO AN INTERSECTION WITH THE WESTERLY RIGHT—OF—WAY OF THE INTRACOASTAL WATERWAY, THENCE SOUTH 07 DEGREES 07 MINUTES 50 SECONDS WEST, A DISTANCE OF 186.72 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE SOUTH 07 DEGREES 07 MINUTES 50 SECONDS WEST, ALONG SAID WESTERLY RIGHT—OF—WAY OF THE INTRACOASTAL WATERWAY A DISTANCE OF 270.28 FEET; THENCE NORTH 00 DEGREES 18 MINUTES 47 SECONDS WEST, A DISTANCE OF 268.00 ET; THENCE NORTH 89 DEGREES 41 MINUTES 13 SECONDS EAST, A DISTANCE OF 35.39 FEET TO THE POINT OF BEGINNING. CONTAINING 4743.35 SQUARE FEET, 0.11 ACRE MORE OR LESS, C COPYRIGHT DEAN SURVEYING 2016 1 HEREBY COM THAT RE SKETCH & DESORIPTION HEREIN WERE PERFORMED UNDER My SUP COMPLIES WITH THE MINIMUM TECH ST DS, AS Surveying SET FORTH BY THE FLORIDA BOMD OF SURVEYORS D MAPPERS IN CHARIER • 5J -17 OF THE FLORIDA ADMINISTRATIVE E; PURSUANT 10 SECTION 472.027 Mapping, I . STATUTES. 'The Measuring Line Shall Go Forth" Jeremiah 31.39 4201 Westgate Avenue N Suite THIS DRAWING IS NOT VAIjD WIMUT West Palm Beach, Florida 33409 THE EMDDSSED SEAL OF THE SURVEYOR Tel: (561)625 -8748 Facsimile (561)626 --4 SURVEY IS RASED UPON DATA PROFESSIONAL c . Su Field Date 01 -04 -16 AS FURNISHED BY CIJENT. ONLY FILED T DATA IS SHOWN, UNLESS STATED FLORIDA CERTIf1GATE N0. 40 C.A.D.D. D.J.M. Scale /A OTHERWISE. Sheet 1 of 2 Job No. 015 -1 A ~ 0 60 120 240 GRAPHIC SCALE / NORTHWEST CORNER' SECTION (IN FEET) 34, TOWNSHIP 45 SOUTH, RANGE 43 EAST WOOLBRIGHT ROAD S85*32'580E 431.12' WESTERLY R/W INTRACOASTAL WATERWAY PARCEL "A" LU LU En DO -Ln CQ Uj SOUTH LINE LOT 2 Legend A Indicates Are Lenth R/W Indicates Right—of—Way R Indicates Radius P.O.C. D Indicates Delta Angle P.O.B. Indicates Point Of Beginning NOTE: THIS IS NOT A BOUNDARY SURVEY COPYRIGHT DEAN SURVEYING 2016 Dean Surveying and Mapping, Inc. 'The Meosudng Une Shall Go Forth" Jererniah 31:39 4201 Westgate Avenue Suite A3 AWest Palm Beach, Florida 33409 ADJUSTED DISTANCES 1/14/16 Tel:(561)625-8748 Facsimile (561)626-4558 REVISIONS DATE Field Date 01-04-16 RIVERWALK PLAZA Sheet 2 of 2 No. 015-Inn' ~ (S.E. 15th AVENUE) N89 YE NORTH LINE LOT 1 DESCRIPTION OF PRIME CATCH ADDITION COMMENCING AT A POINT IN THE WEST LINE OF LOT 1, AT A DISTANCE OF 50 FEET SOUTH OF THE NORTHWEST CORNER THEREOF, THENCE NORTH 89 DEGREES 41 MINUTES 13 SECONDS EAST ALONG A LINE PARALLEL WITH AND 50 FEET SOUTH OF THE NORTH LINE OF SAID LOT 1, A DISTANCE OF 83.00 FEET TO A PO1 (SAID LINE ALSO BEING THE SOUTH RIGHT—OF—WAY LINE OF S.E. 15TH AVENUE); THENCE SOUTH 85 DEGREES 32 MINUTES 58 SECONDS EAST, ALONG THE SOUTH RIGHT —OF —WAY LINE OF SAID S.E. 15TH AVENUE, A DISTANCE OF 152,72 FEET TO THE POINT OF BEGINNING, THENCE CONTINUE SOUTH 85 DEGREES 32 MINUTES 58 SECONDS EAST, ALONG THE SOUTH RIGHT —OF —WAY LINE OF SAID S.E. 15TH AVENUE, A DISTANCE OF 1 57.92 ET; THENCE SOUTH 00 DEGREES 18 MINUTES 47 SECONDS EAST, A DISTANCE OF 855.00 FEET; THENCE SOUTH B9 DEGREES 41 MINUTES 13 SECONDS WEST, A DISTANCE OF 167.39 FEET; THENCE NORTH 00 DEGREES 18 MINUTES 47 SECONDS WEST, A DISTANCE OF 98.95 FEET TO THE POINT OF BEGINNING. CONTAINING 15,395.63 SQUARE FEET, 0.35 ACRE MORE OR LESS C COPYRIGHT DEAN SURVEYING 2016 I HEIM CERTIFY THAT THE SKEFCH & OMPTION HEREINWERE PERFORMED UNDER Surveying MY SU D IT COMPUES THE MINIM TEC ST , AS SET Dean F09M BY THE FLORIDA BOARD OF SWEMRS AND MAPPERS IN MWD • 5J -17 FLORIDA I CODE, TO SECTI 472.027 Mapping, . FLORIDA STA 'The easuring Line Shall Ga Forth" Jeremiah 31:39 4201 Westgate Avenue NOTE Suite THIS D KG NOT VALID West Palm Beach, Florida 33409 THE EMBOSSED SEAL Of THE 5U R Tel: {581 }625 -8748 Facsimile (561)626 -4558 S AS URVEY 6 BASED UPON DATA P 5U R Field Date 01 -04 -18 T DATA 11R , U . ONLY FILED FLORIDA IFI0A7E C.A.D.D. D.J.M. Scale N/A OTHEIMM LB 6w Sheet 1 of 2 Job No. 015-1205-PC-ADD 80 120 240 GRAPHIC SCALE NORTHWEST CORNER SECTION (IN FEET) 34. TOWNSHIP 45 SOUTH, WOOLBRIGHT ROAD RANGE 43 EAST (S.E. 15th AVENUE) N89 S,8 NORTH LINE LOT 1 8 O E S85*,32'5 P.O.C. 167.97 SOUTH R/W S.E. 15th AVENUE pin C Ld 110.00, P. B 0) CD 2 r' L d r-, :1 1 1M Do :'*' Go 00 CD 167.39 z S89'41'1 3"W (n cr_ 3: (6 LO (4 C U 0 Lj Z Fit SOUTH LINE LOT 2 Legend A Indicates Arc Lenth R/W Indicates Right—af—Way R Indicates Radius P.O.C. Indicates Point of Corn menomen t D IndICUites Delta Angle P.O.S. Indicates Point or ft g l rm * lng NOTE: THIS IS NOT A BOUNDARY SURVEY COPYRIGHT DEAN SURVEYING 2016 It Dean Surveying and Mapping, Inc. 'The Measuring Line Shall Go Forth'ie 31 4201 Westgate Avenue Suite A3 West Palm Beach, Florida 33409 ADJUSTED DISTANCES 1/14/16 REVISIONS Tel:(561)625-8748 Facsimile (561)626-4558 DATE Field Date 01-04-16 TITLE C.A.D.D. D.J.M. - ----------------- Scale 1 m = 120' RIVERWALK PLAZA Sheet 2 of 2 Job No-015-1205-K-ADD, DESCRIPTION OF PRIME CATCH COMMENCING AT A POINT IN THE WEST LINE OF LOT 1, AT A DISTANCE OF 50 FEET SOUTH OF THE NORTHWEST CORNER THEREOF; THENCE NORTH 89 DEGREES 41 MINUTES 13 SECONDS EAST ALONG A LINE PARALLEL WITH AND 50 FEET SOUTH OF THE NORTH LINE OF SAID LOT 1, A DISTANCE OF 83.00 FEET TO A POINT (SAID LINE ALSO BEING THE SOUTH RIGH -OF --WAY LINE OF S.E. 15TH AVENUE); THENCE SOUTH 85 DEGREES 32 MINUTES 58 SECONDS EAST, ALONG THE SOUTH RIGHT -OF -WAY LINE OF SAID S.E. 15TH AVENUE, A DISTANCE OF 152.77 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE SOUTH 85 DEGREES 32 MINUTES 58 SECONDS ALONG THE SOUTH RIGHT-OF-WAY LINE OF SAID S.E. 15TH AVENUE, A DISTANCE OF 278.34 FEET MORE OR LESS TO AN INTERSECTION WITH THE WESTERLY RIGHT -OF -WAY OF THE INTRACOASTAL WATERWAY; THENCE SOUTH 07 DEGREES 07 MINUTES 50 SECONDS WEST, A DISTANCE OF 186.72 FEET; THENCE SOUTH 89 DEGREES 41 MINUTES 13 SECONDS WEST, A DISTANCE OF 35.39 FEET; THENCE NORTH 00 DEGREES 18 MINUTES 47 SECONDS WEST, A DISTANCE OF 30.00 FEET; THENCE SOUTH 89 DEGREES 41 MINUTES 13 SECONDS WEST, A DISTANCE OF 21.07 FEET; THENCE NORTH 00 DEGREES 18 MINUTES 47 SECONDS WEST, A DISTANCE OF 50.00 FEET; THENCE NORTH 72 DEGREES 42 MINUTES 45 SECONDS WEST, A DISTANCE OF 30.79 FEET; THENCE NORTH 00 DEGREES 18 MINUTES 47 SECONDS WEST, A DISTANCE OF 20.00 FEET; THENCE SOUTH 89 DEGREES 41 MINUTES 13 SECONDS WEST, A DISTANCE OF 167.39 FEET; THENCE NORTH 00 DEGREES 18 MINUTES 47 SECONDS :W T, A DISTANCE OF 99.D0 FEET TO THE POINT OF BEGINNING. CONTAINING 30,909.08 SQUARE FEET, 0.71 ACRE MORE OR LESS. C COPYRIGHT D SURVEYING 2016 DER I HE CE FY THAT H & DESCRIPTION HEREIN RE PERFORMED UN MY SUPOMM AND IT COMPLIES WITH THE MINIMUM TECHNICAL STANDARDS, AS Dean Surveying SET FORTH BY THE FLORIDA BDMD OF SURVEYORS AND WPM IN CMRHR 5J -17 OF THE FLORIDA ADMINEWTIVE CODE, PURSUANT TO SUPMON 472.027 and Mapping, Inc. FLORIDA STATUTES. gest The uring Lane Shall Go Forth" Jeremiah 31:39 4201 Westgate Avenue N Suite THIS WING 6 NOT VALID Palm Beach, Florida 33409 THE EMBOSSED SFA OF THE SURVEYOR Tel: (561)625 -8748 Facsimile (561)626 -4558 SURVEY 6 BASED UPON DATA PIC SU Field Date 01- -04 -16 AS FURNISHED BY Cl.l ONLY FILED M 6 C.A.D.D. D.J.M. Scale N/A PLOT TA I5 5 ,UNLESS STATED OTHERWISE LB 6936 Sheet 1 of 2 Job No. 015-1 PC - - 0 60 120 240 GRAPHIC SCALE NORTHWEST CORNER SECTION (IN FEET) 34. TOWNSHIP 45 SOUTH, RANGE 43 EAST WOOLBRIGHT ROAD 5 9 83.00 SOUTH R/W S.E. 15th AVENUE SB 41 13 167.39 N7242'45"W 30.79' S89*41'1 3V 21.07' Nocr I 8'47V 30.00' Cli Uj LU 2f SOUTH LINE LOT 2 Legend A Indicates Arc Lenth R/W Indicates Right—of—Way R Indicates Radius P.O.C. Indicates Paint of Comrnencmgnt D Indicates Detta Angle P.O.B. Indicates PeInt Of Beginning NOTE: THIS IS NOT A BOUNDARY SURVEY @ COPYRIGHT DEAN SURVEYING 2016 Dean Surveying 'The Measuring Une Shall Go FortV Jeremiah 31:39 4201 Westgate Avenue Suite A3 West Palm Beach, Florida 33409 ADJUSTED DISTANCES 1/14/16 Tel:(561)625-8748 Facsimile (561)626-4558 REVISIONS DATE — Field' =TD=ate 01-04-16 " r DESCRIPTION OF PARCEL °" COMMENCING AT A POINT IN THE WEST LINE OF LOT 1, AT A DISTANCE OF 50 FEET SOUTH OF THE NORTHWEST CORNER THEREOF, THENCE NORTH 89 DEGREES 41 MINUTES 13 SECONDS EAST ALONG A LINE PARALLEL WITH AND 50 FEET SOUTH OF THE NORTH LINE OF SAID LOT 1, A DISTANCE OF 83.00 FEET TO A. POINT (SAID LINE ALSO BEING THE SOUTH RIGHT —OF —WAY LINE OF S.E. 15TH AVENUE); THENCE SOUTH 85 DEGREES 32 MINUTES 58 SECONDS EAST, ALONG THE SOUTH RIGHT —OF —WAY LINE OF SAID S.E. 15TH AVENUE, A DISTANCE OF 431.12 FEET MORE OR LESS, TO AN INTERSECTION WITH THE WESTERLY RIGHT —OF —WAY OF THE INTRACOASTAL WATERWAY; THENCE SOUTH 07 DEGREES 07 MINUTES 50 SECONDS WEST, A DISTANCE OF 488.96 FEET TO THE POINT OF BEGINNING, THENCE CONTINUE SOUTH 07 DEGREES 07 MINUTES 50 SECONDS WEST, ALONG SAID WESTERLY RIGHT —OF —WAY OF THE INTRACOASTAL WATERWAY A DISTANCE OF 80.00 FEET, THENCE SOUTH 89 DEGREES - 1 MINUTES 13 SECONDS WEST, A DISTANCE OF 125.72 FEET, THENCE NORTH 07 DEGREES 07 MINUTES 50 SECONDS EAST, A DISTANCE OF 80,00 FEET; THENCE NORTH 89 DEGREES 41 MINUTES 13 SECONDS EAST, A DISTANCE OF 125.72 FEET TO THE POINT OF BEGINNING. CONTAINING 10.057.60 SQUARE FEET, 0.23 ACRE MORE OR LESS. C COPYRIGHT DEAN SURVEYING 2016 1 HEREBY CERTIFY TK THE MUCH & DESCRFfiON H E PERF ORMED U ER SUPERVISION D R ES THE MINIMUM TECHNICAL ST DS, AS Surveying SET FORM BY THE FLORIDA BOA0 OF SURVEYORS D WPM IN CHARTER • 5J-17 OF THE ADMINISTRATIVE CODE, PURSUANT TO SE 472027 Mapping, Inc. FLORIDA STA 'The Measuring Line Shall Go Forth' Jeremiah 31:39 4201 Westgate Avenue Suite A3 THIS DRAWING 6 NOT VALID OUT est Palm Beach, Florida 33409 THE ED OF THE SURVEYOR Tel:(561)625 -8748 Facsimile (561)626 -4558 SURVEY 15 BASED UPON DATA Field Date 01- -04 -16 AS FURNISHED BY CLIENT. ONLY FILED I® PER PLAT DATA IS S , UNLESS STATED FLORIDA CERTIFICKTE NO. 44M C.A.D.D. D.J.M. Scale N/A OTH ERWISE LB 6936 Sheet 1 of 2 Job No. 015-1205-B ~ - GRAPHIC SCALE NORTHWEST CORNER SECTION (IN FEET) 34, TOWNSHIP 45 SOUTH, RANGE 43 EAST WOOLBRIGHT ROAD / (S.E. 15th AVENUE) NORTH LINE LOT I LU to Lj P to N89'41'1 YE ku 12532' Uj Co at CD SOUTH LINE LOT C� Legend S89*41'1 3V A Indicates Are Lenth R/W Indicates Right—of—Way D Indicates Defta Angig P.O.B. Indicates Point of Beoinning NOTE: THIS IS NOT A BOUNDARY SURVEY COPYRIGHT DEAN SURVEYING 2016 Dean Surveying and Mapping, Inc. 'rhe Moasuring Line Shall Go Forth' JererTflah 31-39 4201 Westgate Avenue Suite A3 West Polm Beach, Florida 33409 Tel:(561)625-8748 Facsimile (561)626-4558 REVISIONS DATE Field Date 01-04-16 TITLE RIVER)NALK PLAZA Sheet 2 of 2 Job No. 015-1205-B ' DESCRIPTION OF POST LAND SWAP BEGINNING AT A POINT IN THE WEST LINE OF LOT 1, AT A DISTANCE OF 50 FEET SOUTH OF THE NORTHWEST CORNER THEREOF; THENCE NORTH 89 DEGREES 41 MINUTES 13 SECONDS EAST ALONG A LINE PARALLEL WITH AND 50 FEET SOUTH OF THE NORTH LINE OF SAID LOT 1, A DISTANCE OF 83.00 FEET TO A POINT (SAID LINE ALSO BEING THE SOUTH RIGH —OF —WAY LINE OF S.E. 15TH AVENUE); THENCE SOUTH 85 DEGREES 32 MINUTES 58 SECONDS EAST, ALONG THE SOUTH RIGHT —OF —WAY LINE OF SAID S.E. 15TH AVENUE, A DISTANCE OF 152.72 FEET; THENCE SOUTH 00 DEGREES 18 MINUTES 47 SECONDS EAST, A DISTANCE OF 98.95 FEET; THENCE NORTH 89 DEGREES 41 MINUTES 13 SECONDS EAST, A DISTANCE OF 168.00 FEET; THENCE SOUTH 00 DEGREES 18 MINUTES 47 SECONDS EAST, A DISTANCE OF 20.00 FEET; THENCE SOUTH 72 DEGREES 42 MINUTES 45 SECONDS EAST, A DISTANCE OF 30.79 FEET; THENCE SOUTH 00 DEGREES 18 MINUTES 47 SECONDS EAST, A DISTANCE OF 50.00 FEET; THENCE NORTH 89 DEGREES 41 MINUTES 13 SECONDS EAST, A DISTANCE OF 21.07 FEET; THENCE SOUTH 00 DEGREES 18 MINUTES 47 SECONDS EAST, A DISTANCE OF 30.00 FEET; THENCE NORTH 89 DEGREES 41 MINUTES 13 SECONDS EAST, A DISTANCE OF 35.39 FEET MORE OR LESS, TO AN INTERSECTION WITH THE WESTERLY RIGHT —OF —WAY OF THE INTRACOASTAL WATERWAY; THENCE SOUTH 07 DEGREES 07 MINUTES 50 SECONDS WEST, A DISTANCE OF 382.24 FEET MORE OR LESS TO THE SOUTH LINE OF LOT 2; THENCE SOUTH 89 DEGREES 41 MINUTES 13 SECONDS WEST, ALONG THE SOUTH LINE OF SAID LOT 2 AND THE WESTERLY EXTENSION THEREOF, A DISTANCE OF 795.05 FEET, MORE OR LESS, TO A POINT ON THE EAST RIGHT —OF —WAY LINE OF U.S. HIGHWAY NO.1; THENCE NORTH 04 DEGREES 57 MINUTES 25 SECONDS EAST, ALONG THE RIGHT —OF —WAY LINE OF SAID U.S. HIGHWAY ND.1, A DISTANCE OF 225.03 FEET TO THE POINT OF COMMENCEMENT OF A CURVE CONCAVE TO THE WEST, HAVING A RADIUS OF 2914.93 FEET AND A CENTRAL ANGLE OF 03 DEGREES 55 MINUTES 10 SECONDS; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE, A DISTANCE OF 199.40 FEET, TO THE POINT OF TERMINATION OF SAID CURVE; THENCE CONTINUING ALONG THE EAST RIGHT —OF —WAY LINE OF SAID U.S. HIGHWAY NO.1, NORTH 01 DEGREES 02 MINUTES 15 SECONDS EAST, A DISTANCE OF 27.09 FEET TO A POINT; THENCE NORTH 89 DEGREES 43 MINUTES 15 SECONDS EAST, A DISTANCE OF 150.00 FEET TO A POINT; THENCE NORTH 01 DEGREES 02 MINUTES 15 SECONDS EAST, ALONG A LINE PARALLEL WITH THE EAST RIGHT —OF —WAY LINE OF SAID U.S. HIGHWAY NO. 1, A DISTANCE OF 150.00 FEET TO A POINT ON THE SOUTH RIGHT —OF —WAY LINE OF SAID S.E. 15TH AVENUE; THENCE NORTH 89 DEGREES 43 MINUTES 15 SECONDS EAST, ALONG THE SOUTH RIGHT —OF —WAY OF SAID S.E. 15TH AVENUE, A DISTANCE OF 170.15 FEET TO THE POINT OF BEGINNING. CONTAINING 425,763.55 SQUARE FEET, 9.77 ACRES MORE OR LESS. {�C I HEREBY C FY THAT THE SKETCH H N RE COPYRIGHT DEAN SURVEYING 2016 FORDED UNDER • MY SU SION AND IT COMPLIES THE MINIMUM TECHNICAL STAN AS n Survey n SET FORTH Ff THE FLORIDA BOAR OF SU ORS AND MAPPERS IN CHNW 5J -17 OF THE FLORIDA ADMINISTRATIVE CODE, PURSU TO SECTION 472.027 n M a pp i ng , In RORI A STATUTES 'The Measuring Line Shall Go Forth" Jeremiah 31:39 4201 Westgate Avenue Suite A3 THE ]KING IS NOT VALID WITHOUT West Palm Beach, Florida 33409 THE EMSSED SEAL OF THE SURVEEYMOR Tel:(561)625 - 8748 Facsimile (561)626 - 4558 DES CRIPTION IS aW UPON DATA Field Date 01- 04--16 AS FUR ATA ISSHOWN, UN STATED BY CLIENT. ONLY FILED PSUWMR MAAPPERR PLAT DATA IS CERTIFICATE NO. 4406 C.A.D.D. D.J.M. Scale N/A OTHERW LB 6936 Sheet 1 of 2 Job No. 015 - 1205 —LS ~ 0 so' 120' 240 GRAPHIC SCALE NORTHWEST CORNER SECTION (IN FEET) 34, TOWNSHIP 45 SOUTH, WOOLBRIGHT ROAD RANGE 43 EAST C14 Lu It POINT OF z— ];07BEGINNING a w NOT INCLUDED CN C�l N89'43'1�-! 167.39' Lj C SOM 8'47"E 30.00' re cly LU LU C%j 10 La Legend R Incricates Radius P.O.C. Indicates Point of commen NOTE: THIS IS NOT A BOUNOARY SURVEY D Indicates Deft Angle P.O.B. Indicates Point Of Beginning Q COPYRIGHT DEAN SURVEYING 2016 Dean Surveying and Mapping, Inc. * The Measuring Line Shall Go Forth Jeremiah 31:39 4201 Westgate Avenue Suite A3 ADJUSTED DISTANCES West Palm Beach, Florida 33409 1/14/16 Tel:(561)625-8748 Facsimile (561)626-4558 REVISIONS DATE Field Date 01-04- TITLE Sheet 2 of 2 No. 015-1205—LS - ~ i R Indicates Radius P.O.C. Indicates Point Of Cornmenornent GRAPHIC SCALE D Indicates Defto Angle P.O.B. Indicates Point Of Beginning (IN FEET) NORTHWEST CORNER SECTION WOOLBRIGHT ROAD RANGE 43 EAST NORTH �LINELOT 1 RANGE 4 EM R / W 15th AVENUE z 150.00 Uj LO Cq U3 LO cn en Cn C1q C) uj SOUTH UNE LOT 2 NOTE: THIS IS NOT A BOUNDARY SURVEY COPYRIGHT DEAN SURVEYING 2016 Dean Surveying and Mapping, Inc. 'The Measudng Une Shall Go Forth Jeremiah 31-.39 4201 Westgate Avenue Suite A3 West PaIM Beach, Florida 33409 REMSIONS Tel:(561)625-8748 Facsimile (561)626-4558 DATE Field Date T-064-116 TITLE Sc Sheet 2 of 2 Job No. n15-12n0 - 34, TOWNSHIP 45 SOUTH, �4 �ot A , 9 2 ar � 3~ W Lu cm 8 Sr CD r r M�iq x, C3 N m fq N 1�1 9 : I d EMF E i i M J YF ! tl1ao o IS. CO LL. Of U. c" to r O rn Q E e;, ° M n � l M LL E M OD � �p r� �N 5 to L ao co t. {i fut kttttittjs 1 ,. a slvra , , L I i -- It s 4 4 gg ¢ i oJ y ' y J aL g®aa4amaal Who and as81820141 :...,..W,....� ®x_�xxsx��,:n rsx Kw arecwxnax�wwxw evaamms ca�xmxxw� ............ rcrenecxs°xcx�xa...... a O H K PI 11!9 vu 7 ay x n @ _rah 6MR.Srv626 H 11 h ` � / » ` � ° Ja IF RON Tj Cy T O H ^ tp,777 mat C77 A .... . .. . . ..... .... . ...... . . ............... 31 . ................................................ - r ANv I, L E 4, a lu Imp f (� _ tr mfitu A'-si �s � � � k�� �# j t r s� �a �S � jt �V#`fit ��x �� � � 7 t too; if �t s ka t''i #r i` I �i {�� �rr� — �} i t `a s l t t F��gg � sR r Pt �r �Y1iffi 1 11, plot -� - � '} �I �. �\ ft d �t � ��� �� ,,4' �t�� r� � # �n a ��ir# � i< y,, W`d, t Y t`, �'f{ ��' S 7 } t 4� }� �.t r N QR MI g fi� WIN S k NINON rs pp a St at 00 swu ��i„sv � t s� - t u r i� �'� ���''� r r, � r � � i� .. ��`�h �1� � # :'S���� � ti ���tS S }, if`�; l �S � � r�t�s ma m W , q q, Ilk: s �� , i � �, fr Sias } t�'+ rt � �` ` � �� a 4f��' ,�� � 1s ���� � � �' all " ljp� flt t wr lold n', Cl , was ft a mot"It, pit iA - 1 I rs . . . . . .......................... ................ E All J D E s -__ iltltCC 9 $ il$f,rs l ss' 4l ssit t,} tfiS }tiI'v r,t ;' 4 } \ t t$ i til )JIr$ii 1 {,s 11,2vI t t }tivl} r( +. 8 d �' t -slltt st,G ,rt`tyilS{�s �sA1Slt,7lsy(l�lil { {f s11�s'di C $ t i idr�v$11i r1�li,s ?i��i;�stry,� 3 s$,�$k stets \s {�7t1 - °.i ® a " 4 . t ' I I , I It :. , I 1 i 'P S 6 I ---- ------- .. - a Y Y g �- 7� F _ !s i 8$� a 9 a c of �- - -- = I59 €g 0-m FI RaBss g tj .. ......... } jk?i s�p sr s ; }r,� � ���, � 1 £ l , I I �� f �. k � 7 I -71 Lu I mo' .......... -I... jf� LMU fL Uj d a �3 . $ } , }� '{ �icstt t;11sr ) sy }, E 1) }•t , IS } ;�1 „�,_ �',`: S,��lt t)� sr „Ilj »n�� 1t t ;' 75 ,';tl, TV TT l a l � � ,�� !� },; y...' � X f. .� Ili � i ' ” � 1 � � 4 f ? � � � • !'� a: x s � I � I�� i a � lX l i e , z �_ - , } c� ( Q4 b N 1 ;s �9 CN MA ' A ll I @ x 0b a 0� � a t 11,111 1 L 11 „v tr. Sl ' {sa1J'3 iGtist 's r sjrstt r s`Ur ) } ? } ti' ?�AV 1v l�+l 00 1 I�, `1i.3 °ii \ \) s `1 i rs}' i t a LLJ r � r IL r 1 _ i� et S F 6 K�T �� ry''' rf gg ® g p 6 B : -" W W 9 I ;t. { , 0 LL mill f 11 AVMHJIH 1"3091 W ,1m � � € I e6k �yg� co � o __ -. y„s cv - ,; Ot tt sc �l }Syl3 i i} s\SSIiI ) #(75{ r t i# s �l)� i islt }3, A�dt131tl Td1SbUJ x ,11, #,,, f di;\ ) } 7 <<t i,, 1l s , `ill � s� -„ �}�s�? isS ���€€ �1# ftyi��lt \1�( }itsl)rC!' }ff1 <;1��5�1� ?l�) {i+t \��{��� ar T{n _L LLU a P 4 C � j I — t\ �i n B a gl\ \c d IB ! ?y y d 1 p h x $ a a � e s 9t ' J41tj}z�i �ti��i +U i [ i W d 1,1 �'�, I'�, ILL in n z �� s, t a t g t Aj a � f ti; � � _ (�t z CL LU to- ti a 1, w �tl'� W : z W i�� fy 1� 4irr r : ' �l \ s t insa t WW \ — W S of W W i;,i. LOU pO D W tit_ W W 0 � L C9 Q a} JQ4 LL tr �"� ati �Syi oWC r, ig k ti k 4 rn� , � -,n a I •u !! v t) O •' PELF ul [a] i,, I � II�IIft w '`f ., II AY1�9M'>AMR6 1� II Aem�uum'W � Z togi emu' g F 4 v r I #r� �E. �Y 10 " yW �� I LLI ui LU , s „A M ilt _ v, LU M f� tt, t, 4 W 1r1 6 zY' f e £ LU £,�� } co 1 it l ` ' r w t tk IL M Lu fL E 03_ a _ O O a � w CL Ij a Z g W !� lk. Y ......... . AN W iF IM co �� a ......................... � ...... __: w LU E D 77 C3 4- 1 1' .. . ........................ ........ piy � e � , ---Wr 7- 71, $ f a 1 Y� i 1 pp -t ,b , s 'u; r III s e�k: +i LU I i LO f 1 y ���k f i v �wwgg ?t*, Ass O [] O! t EJ � O �- GD lag NNW ,.mjJ ED Z 4.V a J Jj, ! a W W r r I I. a O 6 pla 1. i I J LL W {rl ', ... r� q� all ku if r Jt � 3 to s 4 N� t CL a" CL Qm s a e t m r II r Sf,t ir 1 S' t F r i a' ®i i z <t I -� lip• 5 : Z , w W J \ W z co * r W W I w W ", W T I F r s, gy p, � f "v W a�, `` KMF MIT W W W CL s �` a a O d F a W w w LU Ix - z D M M r z F� uj wl W ... -.. ......_ d { v.. d ` V M3 L co ! sn — 4 ' f i° ffi r'°P I s ! s 31! A 7 U I ALI ,,, ltd {,� ����, ��� � �,,�� } �� } +� `i1 t1 i, 1 �, ���� � � ttill,��t t� 1 `i . (3.. �� fiSS7 )( )f '���t}��lf�}t!� � 1) � � "I r �� � � � }i � � �" 1 { S ` � i � 44 ,� ' r} t� ��_i 15�,�,. _I i t \� �� �t It) S 1 � 1 : � � S� ���� t 1 . u)4':�, �--� -w �. ' �� �����, 4 {�t���V �!'t�S x }ti L� 1L_l, 41 40 Ad 7 Cq PEI 12 _ a 2 oil, I r 0 Z J !11 ... ..,.. ... RM cm i t v L i ti4 , k � �r i -- �' a J w c. . . ®w Rba J �' tl p I m u tr �e it E f 2 r ak ru �• LL AW v I « � � ■_§ � |■ k S E § � | . Q- 0 p ■- -P , ! �• - -E ! } ! } \� ©" ®�/ k \,© •'� \�� ' I } ° k. .■ \ z _ ��.� 9 � g � � z \� '" - »{ � - - - - - , , }� • � � . . . . . TT. • � � � 6! ■ . . ,_ �; LO all z D 0 z D Lo VA. ffDl PAN pN M EL T' N Jim N I low �ib :kN Li n I N N N ICU N Mf fill IIII Is" NIL N N Eat I E I � m / ( \ { || ) | lo §% / � � > q a . . � PAN rp 0 M -12 -IM -12 I cm I lm L 0 C4 N OR ; 2; 00 DOM co Im. -01 16 b" ME N:c — LL L i I- -t 7-1- IT E. 1 oil / | #) / , m 01 < \k � � ■)i B |■ \ � �. _ � low ops Din "p, -D' DW NKL. vq Ep a •, Lb ■ ` © � BPI j 10, w:c I J I Ij |!) ■ a k R E � e HI m ! � � ! ` � . � j € ! . { . , . � - - • - - - - E/ \ :! 3| V1 . .......... aqk F"! 7 Efl � . . . . . . ... V 171 . ... ... .... . .. z" PEE-, 3-1 7j j wa; 17, 7TF L I T am ,,`� , w >, L1.117 L-J l_1 "a 4ED Q� 11 Ig V T OP L HJ 1711 r F I "A F E 7 IT F 71 WEE z t,8 yvi g� L H u _j Di LU . . . . . . VJ . ......... . . . ° wa w.wew�zw 1 r Ali I W I Mil, I (� I I 1 ti ®E E 0 ®_ ❑��� ti 7 F it �I r 1 1 1 I° , q I I 1 � I 1 Y � I I k^' �i T � I I •• S , t tt I � I �" ' I ry I I L�IiL T a I , t RE �� ®® I I I I I ( Ni RU _ Z I I 1 I I I I I. to 8 I I Y = 1 I W El . ............................... . ....... .. . . .................. . . ...... . . . . ............. . . ..... 1. Ei ff ME I" aEfl OF OR IT iH IT ' f{ �����l�: I �I� �1� i� <<J����� c�,��� ����� ��i��«Ilil� �I1l � s �,. ;�,�3I( �{ � Ifib }, ��-, i� � II!>3�1� sr.. �� ��t �� �� � c +�� 1 (� � e'�s < <. v " � 1 �E I ,,. � It f�� 4 I� �,� � �,� a( I e I F � ���1)i��� I l�� � 11 u;�4 �,r•.I' ii ���; E I�t 44 !t�1��` $ P I I M AI = '7 � ll � � V��It�L7 C� u i ;.. f\ �f � i I1 , � � ;4a n1 f � � l I i,. kl�' } 11 � (� ��I {t��, I Y r � r e f kf [ 4�' � �� "_ r � r � � i � I �' 1 I r L—;1 �> �E�{ ��� � � �� � I I � r Sv � `' Ilri `, �; k Jill 1 r � "} k! � 4 t I t 3��k& �Srt \ 1 �r ` �� }� E' ({�, � t }4 r � t � !) I I fl�� � �gtt i � €��t�� f��y �E t� � ; t�� � �(4't l �� � 1 �'� r V77 FE F JHH, TRE :9 U' 11 Mu: Ij 3M ZO 01 ,(Ak "'O'h, VM�V LILI zk { Y S all ag 5 a4 n I I I I l' I I 1 1 I 1 I I 1 I 1 I 1 I I 1 1 1 I I O 1 I 1 I i i I I i I 1 ! I 1 W i � M, All J J I � g A, J N Eo,� siY�# N tr Q J N cm J s I - - e N j . a Q@ { aF N ffi I I s I I I f I I I I I I I ! I t I Y I I I I I I I 1 I Y I I I 1 I I I I I i I I I I I I I I I I I 1 I I I I I I I I I I f z I I I ( I I 1 I I I I t I I I f I f W � N cr I I I I I P I N �yrs I W s W I co J J NO J III _ J E S I I { d' �3 M pgpg LLI fliJ 1 � k i.; r1.r Ir .irGr - N 4 - I � k d $ NM I I I I I I I I r . I I I I I v • i I I 7 I I I I I I I I I I 7 I I I I I I I I I I I I I 4 I S I I I i I1 I I 3 d •, I I �w. I I I I I I I I I I I I I I I I z I I I I I I I I I I I I I I C — I I I I I I I I I I I I I 1 I I I I I I 1 i I l I I I I a 4 I I 1 I I 6 O t d z V) li I Il I { ` gg , r a w a� mi cm F r Z W' W {st($i;; �)$(,?; i } .iiY M£ , W ' a a CN yew W Z H t tr a +i a I " r � ,:11 rt rrt I�I II 4r �"— i { ' C li � dd s li �1_ LU LU Awl , (S ` J F 1 F 2 C7 J r. y a co � 'i m All OP � 1 !i a 7 1 1 « i ��� a S 7 t y �B O = e• � r i m LU LU V% w A S t �r n Y ' „ h, I to � � i 4 a Lif L U LU IL �~ r s w w mfr a z a ir I 5 O N b a _ — 2 - 1 t , al z r I � t , !� tf r IL � 5 i E 9L CL a r ffli r �k °� � � E 0. t a r,,,r 1 z z ���� n(, z 4 "��• N N N -. + N LIS a � '�R�rf b t tt •�IFS� rG f 1 iF i �, r � P q I t ) i V CL W uu �_i } }r lt` p 4 T p 9 OF .. ... ... ... ... '09 SRI mu .................... CK az . .............. . . ....................... . . . ......... . . 2t w lu t It LU CL 31 Ing 0 m 4 � j � ��yt� � � . � I Iy Illy){ i 1i� � �� ( � � ����,£ � k 0�K�,re�sm. �;r v, L&y.. 1111,1111 001 axam "Awl, ��„y, ,_ � l t I'm IS 1,011 4 "It ANA 44 ii I s' � l 1 1 W ����'�� � � W IL — — — — — ------------------------ . .... . _ -- ------- . ............. r qRi 11 \' � ; � a # YI{S II} � } 4 � " � is I It r� � � i lk .�'..�..� Zi� _` 1+15 ;„ � ,, � I; , � !d �'t(u�' i {Ila s� eF �� � s �- � �; Eli ;5QW 4 RRI"; �l� ,� Oman ti rpm WIP IL --- — — - - --- - ---------- — --- In �... Q 3 a a F a A A F a a aspFaa�saa ,peeress ° paaaeAAa,paaaisaap 3 a�aaaaaasaaa 'aaaiAaaale�aFaaAal "a aaaaAaaaaa !! eases aaa s!!lAaaaaa a7 saAai sasss Jess as AA as Jess .,&ea a A as aAAAF sass aA 3aaA as Fa,aAapaarAaspFaF;xaa , paaxaaa,paaataaA , pAFxFSa , p saA i a3ls a °aaAS` aaa °3Aatas a °3 assasaaaaissa °3a3�ASaaaAxaa T T .1 as Aa aAa.1 Al aaAAA AAa as as !a as assess eases as as as as Aa aA as a! ai !seas v 3 .2 .3 as ssA as a .3.2 aaA.2 A1.F eaiaaa.F's.1 aaa,paa'iI .1.F araxa ® p is a A a'aaaA�aa aAAaIAAa °a aax!laaa asaAa ° 3 ee .�AaaRla3A 7a 7A aA ea M AaA Aa I j sa AAA a aaa a!a raa aaa aaiaaapaaaEASA, paarAaapslsiAAa ,pAaaia3a,pssaia' As !aa a °aaa.szaaialtlaa'aaas' aaa °axataa! °3as�aFa'aAass aaa as v �+a xx alaiaad °� as �i as ss as sA aaaaaaa a I;r r siA7i AA A A a A A 3 aaa sa 'ease!' a! za ax -aP AAAaai sp ass Aa BxsA °AaA� ,�'a AaxaaAAaaa assess aA saAaiA7aax asses• sasss A7 Aas seas A aA Jas sae a Aa �,� sae seas AAZa.. aA aF sA saaaazFa Aa aAiA7aa asses lase a! aa! as sea aaa aaa aAaaaaaAAasass1 7asAA!l711 aa iA ass A! ss s Aaa as aAa a7 -a aF Aa7 a! a37a ae a aaaFAiil7aaxaaaaleAA A7 a . 3 A a A! 7! a a a a a A 7 a 7 a A A A a a a A! A_a A a! A a 3 7 a a 3 a! A a a a a 3 A A a! a a a a! 7aa a ea a A aaA AA! aaa !a aA a A Faa a7a a aaF as aaa! s 3 3 A A a a a a s a i a e ei A saaaAaAlalAAa As7Ai sasss !aa! as a ! alas as Fa as sa a aai as AA as s ss a e a s as as as as i A F a! 3 a 7 A a A! a a a A ! A a a a A a xAAaaAaxaaa sa as a a. 7a ss 3iilii3 ®'', s s A a A A a! 7 a a s A! i s A A a A A a i l l l l i i 1 1 a Aa as As As I!!!! { s Asa eases ass ;�I!!lII1 E a A A A a a A a e i a AlaAaaaaaaaa77aa7 a 1 �...• I I, 3aA sasss 1, ° ° =idra9® iilli aaa 1177 — a A aaa as !alsalAA7aaa ease aalasaAlsaAisszai n sAiaa�laaaAaaaaaasaasAF fj as Aas ®i 7aa A 7 a sss v °u wwa ' pnco-ua� aa�xaix uc m� scot r Irl Ntlld 39tlNDfS ®Ntl DNINNVVq IN3YV3AVd dZtl1d 7i1tlA1a3AIN ow ■ y IN _ un w A g '� � Haixa ®i "s °3wa ien "��aNa�liasaa A"d-3lVd°1 - fvS,SVf]3b211NI e I � v 5 �- I I" REM I I LL 11 1.1- �14 -- I s z a ry w ° IV V $ - 1 i f I .' �`l fit $ I c I I I I !k L a / r J u 9 I � I I a 4 CS;13N aVOd 31ViS) t 'ON AVMHDZH ' °n SBd -606€ 8d}]1335 ON 30 IH°:-3 ,FO!522 3 . 5 2.tS.�ro ®N Irlo "OE Poly ?t aiage t ap S SWVPo VEIN G °'J NVId 35VNIV6(1 1VU63DNOD V2V1d X1VMd3A1U 15 b l i p oil sdit mi � A01 3H At1M83 1V,SVjj3V ,CIS 3NQ � �NIISTX3 N 14r - .7 4 5, iL fli A Eam -1 A qg 4 1 S, W) mom an 'r S.A N3A so 3N13 EN 1 IX3 U H a a Olt: 7t7 lo e 7 � , :Ii� el, t % ���W P toN GVON kVIS) I ON kVMH!DI s @Z -ID ES NUU3-5 d06 AVP 1®' LFrlh m I Y I NVId ?J3M3S CNV HRVM W(UdMNOO vzv1d mWWAWN - ] I lot 11 g a il - 1 11 h 1.11 1 , I 1 R PM 1 .1 1 M 1 11 1111! z5 . !Dui 44 N1 �0 - - - - --------------------------- - � r IF � II - w �] � Wit. _ __ - �- ...._e - -- - -- P �v ............... 14 I I g.xQN3A g , I If 'p 4 1 I- v gill I -, I r (ftN G V iv S) 1 'ON A V /A D H zd L INNIN.d 2 Vdl�D U ffhn.3 1• { I t 1 �C+ Ea Ea �I�1~ l����ari+ E E9 E E9 t €? • I "'u'. \K I1 low _ A E� a ,► �� I I I Ea �� ' r,A "�'� �� �,,, ���iGC •*__arc' ��aats. *s'��,�, ' °��R* —ate �.ec3»' +. yt�fl�+ �� i�.S � {F,�4'- .�i��'i4 �;rt► � �� C E� Q� G? C� �r �a Ei9 f���"" •�Cn � G &a G� ew 6�',`EDEB lCaE3 � R px P , z=7ac� <.r�� easra © _: Nil RsY Xtl WI 46 apt - Hu Apra M _m%— �Xl �-A a A A-M igNWe 1vm1 I XIM -10 wm� w M.. ORM Ga- 27 _zm_ -ml—m o- ---a --2at -a-- -- o Nm- -MI ---X aeaaay --tw --f ,E iw'wXY RM -- CSW - - W - — .6 - - M — , --- zrek -W—W� MI. M MIA� ___22LA� — -a- Alm A -14 P QwS ZI;IZZ; RF .1 ARX ewP,Rl EP Tm ME JIL. --ML- RTM �—Pw -N AIM roRd alb Wwf 91q Mxx ME — %ff -- — WV — . —m IX nl W IRA A ffil FEDERAL HIGHWAY CORRIDOR COMMUNITY REDEVELOPMENT PLAN UPDATE Prepared 0 The City of Boynton Beach Community Redevelopment Agency Federal Highway Corridor Zon Proposed Map 7.1 r �wg� ��e9iNAYE � } I *two WWII E&Va"a WIMEMM r M RASE I i 09.1. OTH a,NS[ ihl? q'HME 8 HxAYE Saw nxm r,x w 6W&VA"a .20114 Y 99Y F5R � 5 -WHAK 01"A LSO 6MA1PE ... A1�. f t@ WHAM bM ( S M1144 x 9 P 1 'T M11 d fIfH P ' J6x t � town U m jI,bHCLM, s , MH 3 ' r1N'111Eax ,' utrfv, _ 1ALflRHw riouR H �� Legend ProFa Zoni as 1,540 754 4 1, Feet Wr ft-SA _. _. "um A w wm 103 e . A �� N '1P7 IIF r.5bW }':1 I i f X11 �(a �n1iM� li 'r jw- It �f SR,,,p ' I „N -l MY ; M MW £ �` t IMP { � ? n7 MMMM x ro 1 � I F n awu��ar�� c s ! �+ r � p. e 41 , �I r �, �� 1, , It �, � � � f t; t, k R Kay 8i4r41k�. .,y, Wr i ��j u. N .� i Ai i IN, � x ,'� s rt'N '. Y V i'' p�rfi y,'s ¢F } `•` i r °'`” i �! it s ) { �. � l4 jl 1` { i� ( � � � `r� �! Ida n, r �_ . r f"�4 { i � w . "�' � � � ��I { i �r t VAN f t r {7 �.. W AR i �J x ,4 19 1 W ' 1 1 1 1 1 w r � �r� { „4 ` i�£ .`�� I ,��� bra ,{ �� fig. IIr� f'' _• -r �� k�. � £, + a;� � a tr,� 9' F11, t{ : ,r , y ' . ''� r , �j A42y r • r I 1 } II } �� 4 g ,l { r,r £t'n{tat . i "lwr ���, . No r , _ y ,� p ? i.:�E� r � ,�` „ r : r �� � � @ @ 7. i 9 I ,. {�f�r w ; � t i �t£q; •- p� { is, � r i t�l ;, jstt, £�'� � G., x(ir� :. 1r �� il.>! i Y F � 1 Jr, l i z,;.�n I V 4 A ii l n �1S , ` yr 3, i i n, y, r� '35 r, �1 tt 1L' z y 7 , , y n { ��� �U3177,._ � �; =l1S�tltr r k BOYNTO "BEACHICRA ADVISORY BOARD CRA ADVISORY BOARD MEETING : April 7, 2016 ITEM: AGENDA VIID Major Modification Project— 480 E. Ocean Avenue BACKGROUND: The property, 480 E. Ocean was previously owned by the CRA. The CRA purchased the 1930's vernacular home as part of the 1s Street Public Parking project. The Agency made the decision to preserve the home by moving it to a little used parking lot at the comer of Ocean Avenue and SE 0 Street and converting it to a restaurant. The CRA retained the services of a restaurant broker to find a lessor or purchaser for the property. The CRA Board selected Mr. Richard Lucibella to purchase the site for $335,000 which was the appraised value at the time of the contract. Mr. Lucibella plans on leasing the restaurant to Lisa Mercado, the owner of The Living Room on Congress Avenue. Mr. Lucibella has submitted a major site plan modification to the City to enclose the patio area of the building. This will add 925 sq. feet to the building bringing the total sq. footage of the restaurant to 1,463 (See Attached Site Plans). He also plans on adding a hood to the kitchen to allow for on -site food preparation. The project is expected to take six months to complete once the approvals for the major site plan approval and building permit have been received from the City. The approvals are expected to be received by the end of June 2016. I HfIN'AAV MVJ' 00 ISVa ORV LU 0 H 2 9 z HW 0 01 5 gig Mh Lu El JUR 01 Il HUM awl 111 61 .. ...... ....... ............. ........ .. ........... LIES 02 LI ........... e. i .tea . ........ . ........ ........... if ag- ad— mows owme MOIKXOH'RnNHAV -KVaDO H 08t aflKmv NVHDO JISVH oat lot - -------------- --------- ---- - ---- ------------ ----------- MA 10 170 ff-F- E ll, ........ ........ ................... ................ ............... "I'l""I'll""I'll'll""I'll""I'll",'ll""I'll""I'll'll""I'll""I'll""I'll""I'll",'ll""I-11,111,11'.."-1-1-1-1- .......................... ............. - . .... .................. .... . .................................... . ....... ................ - ......... ....................................................... . . . . . . . . . MOIKAOU ',qf VqaAV NV900 a Ost �z kn P aftMaAV MVBDO ISV 08t E l l W Ao 1 1 7 -------------- - ---------------- d Edo Ed —o, w Wa :�Islamm MIEE UTIOWHE MO El 'RfIN- XVq 3 0 9 t MNaAV LWaDOLSV'l 08t E1 T 4 t t 7 ----- - ------------- 1 —1417 Fr 7-L T T I _ 1 r� UA ry v a l 411 1 v i m 1134 A ce Ila III M 11 KI gig I Mi p 11 Ij i lo Se 0 2 A V d Omm -- S - — - - - - 1 --------- ----------- LOW /-u JS 6. rwLm2w x 7 v m X 0 t a am 2U3ADD 'ONO2 a a 3 o -vo a AW Vv Y,9 W' + " y ' N BOYNTC mmBEACKICRA CRA Board Meeting Tuesday, April 12,2016 6:30 pm City Commission Chambers 100 E. Boynton Beach Blvd. Boynton eac 33435 AGENDA I. Call to Order H. Invocation e a to the Flag Roll Call Legal: None V. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda 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: A. Music on the Rocks B. Movies in the Park C. Recap 2n Annual Boynton Beach Blarney Bash VIII. Consent Agenda: A. Approval of Minutes — CRA Board Meeting March 8, 2016 B. Approval of Period Ended March 31, 2016 Financial Report C. Monthly Purchase Orders IX. Pulled Consent Agenda Items: X. Information Only: A. Public Comment Log B. CRA 2015 Annual Report C. Marketing and Business Development Campaign D. Response to Advisory Board Member Questions Regarding CRA Finance XI. Public Comments: (Note: comments are limited to 3 minutes in duration) XII. Public Hearing: None XHI. Old Business: A. Outcome of Housing Trust Group and Related Urban Development Revitalization Financing Applications to Florida Housing Finance for MLK South Site and Ocean Breeze East Site B. Status Update on Phase III of Marina Redevelopment Project C. Status Update on the Cottage District Redevelopment D. Status Update on the Model Block Project E. Consideration of Approval of Major Site Plan Modification— 480 E. Ocean Avenue XIV. New Business: A. Update on the Riverwalk Project —1543 S. Federal Highway B. Update on the Ocean One Project XV. Executive Director's Report: A. CRA Advisory Board Packet for 417116 XVI. Future Agenda Items: A. Consideration of Purchase and Development Agreement between Ocean One Boynton, LLC and the CRA for 222 N. Federal Highway B. Consideration of Contract for the Construction of the Open Space Project at the Boynton Harbor Marina I. Adjournment NOnCE IF A PERSON DECIDES TO APPEAL ANY DECISION MADE 13 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 AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCT BY THE CITY. PLEASE CONTACT THE CRA AT (561) 737-3256.AT LEAST TWENTY-FOUR HOURS PRIOR TO THE MEETING PROGRAM OR ACTIVITY IN ORDER FOR THE CRA TO REASONABLY ACCOMMODATE YOUR RE-QUEST ADDITIONAL AGENDA ITEMS MAY BE ADDED SUBSEQUENT TO THE PuBucAnm OF THE AGENDA ON THE CRA!s WEB SITE. INFORMATION REGARDING ITEMS ADDED TO THE AGENDA AFTER. IT IS PUBLISHED ON THE C WEB SITE CAN BE OBTAINED FROM THE CRA OFFICE.