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Agenda 01-10-17
;7t z, fifBEAC "RAmom CRA Board Meeting Tuesday, January 10, 2017 @ 6:30 pm City Commission Chambers 100 E. Boynton Beach Blvd. Boynton Beach, FL 33435 AGENDA I. Call to Order II. Invocation III. Roll Call IV. Legal: A. Discussion and Review of Addendum for Waiving Splashdown Divers' Security Deposit Required Under Slip Lease Agreement V. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda VI. Informational Items and Disclosures by Board Members and CRA Staff: A. Disclosure of Conflicts, Contacts and Relationships for Items Presented to the CRA Board on Agenda Items 1=J1111IiIF u.•1.I:II• .I -u-1 VII. Announcements & Awards: A. Movies in the Park B. Celebration of Unity C. Music on the Rocks ;7t z, fifBEAC "RAmom D. Kinetic Art Exhibit and Symposium VIII. Consent Agenda: A. Approval of Period Ended Dec. 31, 2016 Financial Report B. Monthly Purchase Orders IX. Pulled Consent Agenda Items: X. Information Only: A. Public Comment Log - None B. Marketing and Business Development Campaign C. CRA Advisory Board Agenda — Jan. 5, 2017 D. Minutes — CRAAB Meeting — Dec. 1, 2016 E. Signage — Marina Businesses Open During Construction XI. Public Comments: (Note: comments are limited to 3 minutes in duration) XII. Public Hearing: None XIII. Old Business: A. Status of the Ocean Breeze East Project B. Consideration of Community Benefits Agreement between the CRA and Ocean Breeze Housing Partners, LP (NuRock Development Partners, Inc.) for the Ocean Breeze East Project in the Heart of Boynton Tabled 10/10/16 C. Status of the 2.97 Acre Project Site Known as MLK, Jr. South D. Consideration of Community Benefits Agreement between the CRA and Heritage at City View Housing Partners, LP (NuRock Development Partners, Inc.) for the 2.97 Acre Project Site Known as MLK, Jr. located in the Heart of Boynton Tabled 10/10/16 ;7t z, fifBEAC "RAmom E. Presentation of Site Plan and Request for Financial Incentive for the CRA Owned Property Located at 222 N. Federal Highway XIV. New Business: A. Discussion and Direction for the Potential Acquisition of 416 E. MLK, Jr. Blvd Tabled 11 /9/16 for 90 days B. Discussion and Direction for Purchasing the Property Located at 1110 N. Federal Highway C. Consideration of the Purchase and Sales Agreement with Violet Real Estate, Inc. for the property located at NE 3rd Street D. Audited Financial Statements — FY 2015-2016, Fiscal Year Ended September 30, 2016 E. Review and Discussion of ILA for the Funding of the Neighborhood Sustainability — Community Standards Outreach Coordinator F. Consideration of the Design Scope of Services Work Order with Kim ley -Horn & Associates, Inc. for the Boynton Beach Boulevard Streetscape Improvement Project, Construction Design Plans XV. CRA Advisory Board A. Reports: 1. None B. Pending Items: 1. Research for a Potential CRA Grant for Job Creation 2. Review the 29 Recommendations made in February 3, 2016 Miami -Dade County Grand Jury Report Concerning Affordable Housing and Mismanagement of CRAs 3. Discussion and Creation of Draft Community Benefits Agreement C. New Assignments: 1. Research and recommendations regarding DIFA agreements and the current policy regarding DIFA agreements XVI. Future Agenda Items: ;7t OYN z, fifBEAC "RAmom A. Direction Regarding the Disposal of CRA Owned Properties Located at E. MLK, Jr. Blvd. and NE 9th Avenue to St. Paul AME Church of Boynton Beach (appraisals ordered 11/23/16) B. District Clean Program C. Discussion of CRA doing projects in house Re: Cottage District Site (Advice from Legal) D. Interim Director Position (tabled until June 2017 - 6 mos. from Dec. 13th meeting) XVII. Adjournment NOTICE IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE CRA BOARD WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING, HE/SHE WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE, HE/SHE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDING IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. (F.S. 286.0105) THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED BY THE CRA. PLEASE CONTACT THE CRA, (561) 737-3256, AT LEAST 48 HOURS PRIOR TO THE 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. CRA BOARD OF: January 1 2017 1 Consent Agenda I I Old Business I I Now Business IX I Legal I I Information Only SUBJECT: Review SUMMARY:Teposit Required Under Slip Lease Agreement At the CRA Board meeting on December 13, 2016, Lynn Simmons, the owner of Splashdown Divers, Inc., requested that the CRA waive the security deposit requirement for her business, as outlined in paragraph 3 of the Boynton Harbor Marina Dockage Lease Agreement FY2016-2017. Splashdown Divers, Inc. executed said agreement on December 8, 2016. A copy of the Dockage Lease Agreement is attached. The CRA Board requested that the Dockage Lease Agreement be reviewed by legal and provide the CRA Board with whether or not this request could be waived. The legal department has reviewed the Dockage Lease Agreement and has prepared a proposed Firs'j Addendum to the Dockage Lease Agreement FY2016-2017. The addendum is for CRA Board's review • discussion. FISCAL IMPACT: NIA CRA BOARD MOTION/OPTIONS: 1 - Deny a waiver of the security deposit requirement to the Dockage Lease Agreemen. FY2016-2017 executed by • •• 2. Approve the First Addendum to the Dockage Lease Agreement FY2016-2017 waiving tha. security deposit requirement. MAIM - - �. Boynton Dockage Lease Agreement FY2016-2011 DOCKAGEIM AGREEMIENT AgremnentrLeasell is enWred into between BOYNTON BEACH REDXVEL0phffM AGENM herein called "LESSOR" F the undersipW boat and/or owner, heretnafter call Altemate Phone No. Vessel Registration _1i (herekafter "Vessel'). A 1 4 1 l ! 1 l Crd TKWMVe PWOMI. Tenant vessels shall be measured twice annually. Eledrierty: _.,__,_110 220 Slip No. IS Law Rme, �� - . b TernL The te of this Dockage Lem shall be from '�j until WIT 3. Security Deposit. At the time of execution of this Lease, LESSEE shall pay LESSOR an amount equal to one morith's rent as specified in Paragraph 2 of this Lease. This payment (the "Security DeposiV') shall be made by cash, cashier's cheek, or money order. The Security Deposit may not be paid by personal cheek. Any interest generated on the Security Deposit shall ao=e to LESSOR- LESSOR shall not be obligated to keep the Security Deposit as a separute fund, but may mix it with LESSOR's own funds. PreviGus month, U614 PaYments &WI be considered additional rent under this L=Se. LESSEE's UtifltY PaYments shall be due to LESSOR no later than the twth day of the ibIlowing month. 6. Uen. LESSOR shall have a lien against the Vessel, its apptwtenancM and its con� for unPaid sums due for rent use of dock &cilities, utility uwge� other Services, or damage to any docks or Property of LESSOR or any other persm at the docks caused Owbibuted W by the Vessel, LESSEE, or any individual the LESSEE allows tQ use Vessel. The licn shall be in ',fir,tion to all other remedies available at law or in eqU4. Y-1 Absenca from Slip. LESSEE is required to not* the Dock Master in writing if the Veml will be absent from the above re&rmced slip for longer than & thirty (30) day period. SUPs left empty for longer than Thirry consecutive dayk Or fDr twenty dayr, in a fbrly five day Period, without writtOn n0fification tO the LESSOR shall be considered vacated by the LESSEE and ft lease will be termir"� , 9. Termination for Cause. This Lease sWI be in eMet uMl the end of the tmn unlem sooner terminaW by reason of one or more of the following conditions or events: WMIWI 16-17 Failure to maintain and, provide proof to LESSOR of insurance coverage as requirod in pamgraph 19 below. LESSEE evre-.oaf #+!. hat the LESSOR does not aAsume any obligation to contact the LESSEE with respert to impending weather comfiflous. IN'It" T" DMI09-1 TDiive:Matia&Mazht16-17 aMM `1 arc: L1 1 a lN WnWF-SS WHEREOF. the Parties hereto have caused this Lem to be exe�ted on the day ��id Yew wriften below. Date: g =:W ! i 11 �1 ## ♦ �,! � Via' �! - � _ •r: i � },' # A +1 l R • � 7 1 11C.0oyntonri ITIarm 4Agreement as well as the #* Regulations. N 1 hereby o :! that the marina k—, ! : �rM _ .v #�,# I �► ► �tO activity which 00CM in plain view on the Vessel.rights underwlan Privacy! give MY consent the Boynton Beach Community Redevelopment Apgan its and cOntadOrs tD examine any infDrInation i! !an employer other public 1 pgiven =1 e agency to disclose mfbnnatl deemed necessary to complete U Lem. infibonnatior I hereby give permission to the Community Redevelopment ency or its agents to take photo Of 1# 1 andfor 6 be r1 A promote� consent ,.of theVesselin =juncliOn withPromotional Agency or its employees or contwtm. by A understand li Al any misinformation A 1 I'! by me in to obtain the Lease is grounds for termination i 1 `. Lease by ! Date: /2r LESSEE Signature*.' l $4 ., �B � R10 WMIWI m "" u Swimming, diving, Or fishing shall not be permitted from the docks or finger pim or boats exMt for dre �!Ieaning of the underside of the Yessel by LESSEE or properly licensed professional. Boat owners shall not store supplies, materials, a0cessories or debris on walkway, and shall not COnst[W thwwn any lockers, ch", cabineK or similar struone% except with written approval of the Dock Mdster and the LESSOR. Painting, smVing, or repairing of gear shall not be permitted on the docks or finger piers. Extent of rqWrs and maintenance shall be at the discretion of management. Overnight or long term parldmg am be sewminodated within the Nkrina Village Park'ft Gam9e bY Written APPrUVII Of the Dock Master mad Marina Vfflage to 15. Fach LESSEE shall be issued a maximmn of two (2) Boynton Harbor Marina vehicle identification sticker(s) to be placed on the rear window of the LESSEE's vehicle. No temporary parking passes wi U be issued to LESSEEs for any porpwe 16. All contwtors, mechanics, or caretak=s CCoqtraetors'� working on any vessel in tile Boynton Harbor Marina must register with the Dock Nl[aster, provide t qastcr with proof of insurance and proof of business licensing before commewing wo&, and work pursuant to tht terms of the Lease. Ile Dock Master will provide a on"ay "Contractor Parking Pass"' to Contractors upon registration. Dock Umtcr will only issue parking 06MIMI MVV-Mwbft&bric�AMWDDdMPI=QTY16-17 Passesfor COnftMrsI:have proofo , urance and �rwfof business licensing on 6 witIY' the DOck Mana.more 1; one 1, checky of work is required, thr .1 the Dock Masterewh dayprior Hcommencing 17. Violation of the above rules and regulations, or other conduct crew or guests,that _ Mure anY PWSM4 damage i A I harm reputation of the LESSOR "I he cause for immediate removal fivan 130ynton Aton MRriu& Such conduct 1 aWasive behavior; mpgement in any illegal activity y... any o f ,.1 [ A D1 e. M&SW Or LESSOR determines, in their sole and absolutet ".A 1 endangers health, safety, ri or propertyth LESSEE knw dgI signing below, REGULATIONSELARB01t MARINA RULES A14D herebyagree# Me .1 1 Dockagef: eement �;, First AddenDockage dum to the Agreement FY2016-2017 First Amendment / Dockage LeaseAgreement 7 0' between SimmonsLynn / 1 . /! Divers, 1 Boynton Beach 1 !;m 1Redevelopment Agency This First Amendment ("Amendment") to the Dockage Lease Agreement FY2016-201 ("Agreement") between - 11 1' the Boynton Beach i 1 Redevelopment Agency ("Lessor") is hereby entered into this — day of _, 2017. 1 WHEREAS, the Agreement requires Lessee / pay a security deposit ,! 1 1 one month'sand WHEREAS, the Agreement provides than Lessor may, in its sole and absolute discretion waive any requirement of the Agreement; and WHEREAS, Lessor desires to waive and Lessee desires to have waived the requirement that Lessee pay a security deposit; NOW THEREFORE, for $10.00 and other good and valuable consideration, the receipt and sufficiency of which both Parties hereby acknowledge, the Parties hereby agree as follows: 1) Lessee shall not be required to pay the security deposit described in Paragraph 3 of the Agreement. Paragraph 3 of the Agreement states: Security Deposit. At the time of execution of this Lease, LESSEE shall pay LESSOR an amount equal to one month's rent, as specified in Paragraph 2 of this Lease. This payment (the "Security Deposit") shall be made by cash, cashier's check, or money order. The Security Deposit may not be paid by personal check. The Security Deposit is separate from payment of rent and utilities, and LESSEE may not use the Security Deposit to pay the last month's, or any month's, rent or other charges in arrears. LESSOR is not obligated to apply the Security Deposit on rents or other charges in arrears, or on other damage caused by LESSEE's failure to perform under this Lease, but LESSOR may choose to do so at LESSOR's option. If LESSOR repossesses the slip because of LESSEE's default or breach, LESSOR may, but is not required to, apply the deposit on all damages suffered as a result of the default or breach, regardless of whether the damages occurred before, during, or after repossession. 00739459-1 ■ 1 N".1 is 1 '. 10111 �; * �� 1 1 " !• 1 R.. 1. 1 1 111- use 1 slip.the theredamage beyond normal wear and+ shall subtract the amount1repairdamage from r1 remainderand return the of the Security '1• to LESSEE withinfourteen days has l', the slip.` shall notsubtract 1' 1 from Deposit for normal and 1 have solediscretion-:: what constitutesnormal . 1 Any interest generated on the Security Deposit shall accrue to LESSOR. fund,LESSOR shall not be obligated to keep the Security Deposit as a separate / own funds. 2) Paragraph 3 shall be deemed deleted from the Agreement. 3) The provisions of this Amendment are made a part of the Agreement and shall supersede, govern and control all contract provisions in conflict therewith. An electronic copy of this Amendment and any signatures thereon shall be considered for all purposes as originals. This Amendment may be executed in several counterparts, each of which shall be construed as an original, but all of which shall constitute one instrument. 4) This Amendment shall not be construed to alter or affect any terms or provisions of the Agreement other than those terms and conditions specifically altered by this Amendment. S) The signatories to this Amendment hereby represent, agree, and confirm that each is authorized to sign on behalf of the entity for which they sign below. IN WITNESS WHEREOF, this Amendment has been executed by the parties hereto on the dates indicated below. Lynn Simmons, Lessee Splashdown Divers, Inc. Title: By: Printed: Title: 60?39459-1 ion Date: I Consent Agenda I I Old Business I I New Business I I Legal I I Information n y F -IT -C] 4 k' 117-111110 4 T, VAI • On February 3, 2017, the Boynton Beach CRA will feature the movie Cirque du Solefl. Worlds Away, at the Ocean Avenue Amphitheatre. • The feature film is rated PG and is categorized as a fantasy. • Movie Synopsis: The film is about a young woman who is fascinated by an aerialist. She finds herself in a dreamlike matrix that is the world of Cirque Du Soleil. Although this is a theatrical film, it features actual footage from actual Cirque Du Soleil performances. • This free event will take place at 7:00 P.M. and run to approximately 9:00 P.M. • Benches will be available, but guests are encouraged to bring beach chairs and blankets. • Free parking is available onsite. • A trailer of select CRA district businesses will be shown prior to the start of the film. • Gift cards donated by selected CRA district businesses will be given away to guests th ro ug h a d rawi ng after the movie. • Food, snacks, and beverages will be available for purchase from vendors. • The next Movies in the Park will be on March 3rd. The film has not yet been determined. • Marketing images (Exhibit A) Co] :7_1_1:1:7 ;[*I*] kli 11i 14 k9 i CRA BOARD MOTION/OPTIONS: Unless otherwise offered by the CRA Board, motion is not required at this time I �k. Mercedes Coopirl, Marketing, Events, and Economic Development Assistant i }i; � � ,� � �. I Consent Agenda Old Business Now Business Legal Information Only MLK Celebration of Unity • On Saturday, January 7, 2017, the Boynton Beach CRA will host the MLK Celebration of Unity at the Sara Sims Park in Boynton Beach. • The event will start at 3:00 PM and end at 7:00 PM. • The event will feature live music from Pocket Change and The Valerie Tyson Band. • Food and beverages will be available for purchase from local vendors, including CRA merchant the Boardwalk Italian Ice & Creamery. • Rental and service vendors will have tents set up onsite. • There will be a wide variety of children's activities such as: face painters, balloon artists, hair braiders, and a glitter tattoo artist. • Featured kid's activities will include: a rock climbing wall, bounce house obstacle course, giant slide, and a mobile gaming trailer. • Event photos will be uploaded to the CRA Flickr page and shared via social media after the event. • Marketing images (Exhibit A) i l { Cm-,?,',. BOARD MOTION/OPTIONS: Unless otherwise offered by the CRA Board, motion is not -•' -• at this time i Mercedes Marketing, v ns® and Economic Development Assistant 107. �r��l� '�; � �► }� , ����I.I,= IIS �t lift � �,t�<< l CRA BOARD MEETING Oi 2017 Consent. Business I I New Business I I Legal Information Only 6-111:111 • On Friday, January 20, 2017 the Boynton Beach CRA presents: Music on the Rocks featuring Spred the Dub, a reggae band that infuses soul, funk, and R&B into their music. • This FREE event takes place at the Ocean Avenue Amphitheatre, with live music from 7:00 P.M. to 10:00 P.M. • Food Truck Invasion will be onsite starting at 6:00 PM. • Adult beverages will be available for purchase from the mobile bar service. • Free parking is available onsite. • The next Music on the Rocks concert is scheduled for Friday, February 17, and will feature Artikal Sound System, a reggae band. • Marketing images (Exhibit A) 1 f ..- I � I 1 : 1 :r le i CRA BOARD MOTION/OPTIONS: Unless otherwise offered by the CRA Board, a motion is not required at this time Mercedes CopAin, Wrketi,-Events, and Economic Development Assistant u -9 Yd Ul Consent a Kinetic Art Exhibit and Symposium SUMMARY: • The 3"d biennial International Kinetic Art Exhibit and Symposium will be held February 3- 5,2017. • There will be an opening reception on February 3rd, from 6:00 PM to 8:00 PM. This portion of the event is invitation only. • The event will open to the public on Saturday, February 4t", from 9:00 AM to 6:00 PM and on Sunday, February, 5, 2017 from 10:00 AM to 6:00 PM. • The event will take place within the city's Downtown and Cultural Districts. The Civic Center, City Hall Chambers, and Ocean Avenue Amphitheatre will be utilized. • The event will have outdoor and indoor Kinetic Exhibits, Symposium Presentations, Art & Technology Displays, Kinetic Intentions, Kinetic Entertainment, and opportunities for patrons to Meet and Greet Artists. • The event will feature live music from the Ocean Avenue Amphitheatre. Musicians and set times TBD. • Food and beverages will be available for purchase. • Event photos will be uploaded to the CRA Flickr page and shared via social media after the event. • 2015 Event Images (Exhibit A) Budget,FISCAL IMPACT: FY 2016 — 2017 02-58500-480 CRA BOARD MOTION/OPTIONS: Unless otherwise offered by the CRA Board, a motion is not required at this time I =Vll 5 1 CRA BOARD MEETING OF: January 10, 2017 X1 Consent Agenda I I Old Business I I New Business I I Legal Information SUBJECT: Approval of Period Ending December 31 5 2016 Financial Report SUMMARY: Monthly budget report to the CRA Board representing the revenues and expenses for the preceding month FISCAL IMPACT: N/A CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan I E�� I I I k, 0 CIO 0 0 0 U! 1� .0 0. 11 IM r -O w O 0 0 C4 to •4 o N 0 v C! C! Ci o os W Ili in ko r- 0 r. 1 It 0 Oi 1� -! w Ln In C4 OD cq t- ko m m Go %Dal 00000000. 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Pq mCHH H H E4 E-1 0 I u L) U I Eq U® NMI uw"N I-Pn0 NNI" ON rA 0 N a 1 P E-1 . 9 m EU 4m N H ft 0 m cq 0 C4 u H HB U 0 H NEW w r, Cq 0 .,4 C6, V'n w 0000 H 0 E-4 rq rq rq +i q rq N N N N N N N m w 001 m Ci Ln m C'm w m m m m w W w 0 m m m m m w W Of S co at 0% Q0 MDR R tno 0 IN E-1 I E-4 E-1 I E -t E4 cu (n MMMMMMMMMMMMMM/®1 .1 'In rn Iq m en qn E-10 H D 0 E9 00 a 1 0 E-- 99 9 9 f 11 9 0 Ln Ln o nt 00 00 M 00 Lr) rc"l 0 04 E� m 0 da C Go P E-1 H O CIO o c, II 0 N II se W '04 10 II If 00 0 C7 0 tyu Eq th %D in 4 0 04 O6 E4 N .q ON I X1 Consent Agenda Monthly Purchase Attached is the purchase order reportDecember 21' . for amounts $10,000 tr above FISCAL IMPACT: See Attached CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment In Boynton Beach CRA Purchase r r Report Month: December 2016 Description ,. •M - ► - of Boynton Beach to City of Boynton Beach E,Model Block Project - Collins Property Lewis Longman 7:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTSXCompleted Agenda Item Request Forms by Meeting\CRA BoardlFY 2016 - 2017 Board Meetings\Jan 20171FINANCE - Monthly Purchase Order Report Consent • d- Old Business New Business Boynton Forum- As part of the ongoing marketing efforts to showcase Boynton Beach as a destination, the CRA staff allocated funds in the budget for a monthly double page spread in the Boynton Forum. Every month the double page spread has a different theme to support the overall mission to promote downtown Boynton Beach. The month of December's ad highlighted Boynton Harbor Marina with the 2017 Bucket List showcasing the marina merchants. (Exhibit A) Neighborhood News- Working with Neighborhood News to reach out to the western Boynton communities, this marketing strategy will continue to promote downtown Boynton Beach. The December ad featured Holiday Boat Parade with an editorial on the Holiday Tree Lighting and Concert event and Holiday Parade. (Exhibit B) Billboard -The billboard location is Gateway & 1-95, this billboard showcased the Holiday Boat Parade and Boynton Beach Celebrates MLK. (Exhibit C) (ExhibitDelray Beach Newspaper- A full page ad for Boynton Beach & Delray Beach Holiday Boat Parade was featured in the December issue of the Delray Newspaper. M Coastal Star- The Coastal Star serves the eastern community of Hypoluxo Island, South Palm Manalapan, Ocean Ridge,Briny Breezes, Paradereaches out to that specific demographic. The Boynton Beach & Delray Beach Holiday Boat .• appeared in the northern addition. • (Exhibit, as a bonus it appeared in the Southernaddition which covers Boca Raton and Highland Beach. Posters & Postcards - Marketing material for Holiday Boat Parade and Boynton Beach Celebrates MLK was distributed to businesses buildings. marketing or'' keev. (Exhibitthe businesses informed of our local events and also allows the community to take th.- postcard home as a reminder of the upcoming events. Utility Insert- The month of December featured Boynton Beach Celebrates MLK events and The Music on the '• and Movies in the Park •. (Exhibit G) Street Signs - Street signs were installed to promote the upcoming MLK events. (Exhibit H) Boynton Harbor Marina Marketing Campaign — An ad in the Coastal Angler Magazine featuring Boynton Beach An Ocean of Possibilities highlighting the fishing. Coastal Angler Magazine is a resource for anglers, ••. and conservationists and is the second largest free outdoor publication in the nation. (Exhibit 1) A�� �-; OM4011;j It] CRA BOARD MOTION/OPTIONS: Unless otherwise offered by the CRA Board, motion is not required at this time ir, IMM Implot Exhibit D Exhibit F Poster 14"m IttalMoll Postcard front Exhibit F Back of postcard :.. January 5, 2017 R In Chambers at City Hall 100 E. Boynton Beach Blvd Boynton 561-737-3256 1 ADVISORY BOARD AGENDA n�:nir�m A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda A. Reports: 1. None B. Pending Items: 1. Research for a Potential CRA Grant for Job Creation 2. Review the 29 Recommendations made in February 3, 2016 Miami -Dade County Grand Jury Report Concerning Affordable Housing and Mismanagement of CRAs . Discussion and Creation of Draft Community Benefits Agreement C. New Assignments: 1. Research and recommendations regarding DIFA agreements and the current policy regarding DIFA agreements * . • s -�• • :�. AuditedT. Financial Statementsf 1 .-r September 30, Vil. Old Business: (Recommendations on CRA Board Agenda Items for January 10,2017) FederalA. Discussion of Purchase and Development Agreement for the Property Located at 222 N. i IX Public Comment: (Note: comments are limited to 3 minutes in duration) VZ.FutureAgenda i A. Consideration of Community Benefits Agreement between the CRA and Ocean Breeze Housing Partners, LP (NuRock Development Partners, Inc.) for the Ocean Breeze East Project in the Heart of Boynton CRA tabled 10/10/16 B. Consideration of Community Benefits Agreement between the CRA and Heritage at City View Housing Partners, LP (NuRock Development Partners, Inc.) for the 2.97 Acre Project Site Known as MLK, Jr. located in the Heart of Boynton CRA tabled 10/10/16 C. Discussion and Direction for the Potential Acquisition of 416 E. MLK, Jr. Blvd CRA tabled 11/9/16 to 90 days D. Direction Regarding the Disposal of CRA Owned Properties Located at E. MLK, Jr. Blvd. and NE 9th Avenue to St. Paul AME Church of Boynton Beach (appraisals ordered 11123116) E. District Clean Program F. Discussion of CRA doing projects in house Re: Cottage District Site (Advice from Legal) X1. Adjournment THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED BY THE CRA. PLEASE CONTACT THE CRA, (561) 737-3256, AT LEAST 48 HOURS PRIOR TO THE 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 1S PUBLISHED ON THE CRA'S WEB SITE CAN BE OBTAINED FROM THE CRA OFFICE. F:j Linda Cross, Chair James DeVoursney Allen Hendricks Rick Maharajh Paula Melley ABSENT - Robert Pollock, Vice Chair Thomas Murphy, Jr. -- -13 •. • 01 Michael Simon, Assistant Director, CRA Theresa Utterback, CRA Development Specialist Mona Laventure, Prototype, Inc. Kathryn Rossmell from Lewis, Longman, Walker Roll was called, and it was determined a quorum was present. Motion made by Mr. Hendricks, seconded by Mr. Maharajh, to approve the agenda as presented. In a voice vote, the motion passed unanimously (5-0). Meeting Minutes CRA Advisory Board Boynton Beach, Florida December 1, 2016 ffielley reported that the survey will be brief and simple. She believed an .d hoc committee would be good, involving• •members,• - She thought- had to be more formalized with _ dedicated group preparing ChamberChair Cross agreed it would be beneficial to have the stakeholders involved, and the of - might- helpful in getting it distributed. Chair Cr• - -• that it was the City Commission, not the CRA Board, that assigned the survey to the Board. Mr. Simon stated that staff would present the item to the City Manager for placement on the agenda with the motion to approve the report. He said they will also include the item on the CRA Board agenda. Motion made by Mr. Hendricks, seconded by Dr. DeVoursney, to approve the item as a recommendation to the City Commission for the CRA District. In a voice vote, tI motion passed unanimously (5-0). Mr. Maharajh reported they have engaged Career Source, and it is in process. Mr. Simon said the CRA Board had requested the item, but there has not been a recommendation to them to use Career Source. He added they had not discussed what concept may work or not. He was curious if the Board thought there was merit to the idea of providing money for an applicant to hire an individual, or if it would be better to be an intern type of program. Mr. Simon relayed that the Mayor's focus was on jobs and existing businesses. Chair Cross elaborated that she thought he was thinking if businesses would be able to hire part-time employees for people who live in the CRA District, with the CRA paying half the salary for a limited time. Mr. Simon said it might be somebody that Career Source places in a business and the CRA partners with them to supply funding for that position. Chair Cross believed the goal would be to match up and help create positions within the CRA District for placement. Mr. Simon commented that the action plan could take many approaches - they could support the job seeker, employer, or Career Source, etc. Chair Cross suggested a potential goal of creating the grant: how many jobs are created for people living in the CRA District as a result of the grant. Mr. Simon said that could be one measurement. Discussion ensued on what the Board wanted to measure with the following points brought up: Removal• Focus on business within the CRA, rather than an emplo • Concern about creation of new jobs • of blight is task of ' 0 Zieeting Minutes RBoard Boynton } December 2016 Source• Career be the solution! grant couldA between Career Sourceand job -seekers • Must have a reasonable • Partner with Career Source before allocating grant money • Career Source has best practices and white papers - have them compile then # share with Board reportMr. Simon stated that he has a meeting with Mr. Corbit a few days hence and he will back. (resultingChair Cross wanted to know if they would be dealing just with businesses in the CRA to see them grow, or if they would deal with a contractor who comes in to build within the CRA in job • C. Review the 29 Recommendations made in February 3, 2016 Miami - Dade County Grand Jury Report Concerning Affordable Housing dMismanagement of Chair Cross recalled they needed additional information at their last meeting and asked Mr. Simon if that was available. Mr. Simon relayed he invited Kathryn Rossmell from Lewis, Longman, & Walker to assist in going through the items in terms of the Grand Jury perspective. Ms. Rossmell clarified that the Chair's direction was to not necessarily implement every item the Board thought was relevant, but to look closely at them and see if they thought they were good suggestions for this area. She clarified that the document was not binding, and there is plenty of flexibility to see what might be beneficial to the CRA. Ms. Rossmell further advised that the intent was probably to see if the "relevant" ones could be implemented by the CRA and how the Advisory Board would recommend doing that. Chair Cross began a discussion of the first recommendation on p. 46 of the agenda packet: "Non -elected lay persons be appointed to serve as full-fledged voting members on CRA Boards." Chair Cross opined that the current structure in Boynton Beach has the potential for mismanagement because a lot of lines could get blurred and could become political. Mr. Hendricks suggested three statutory options for a CRA Board: 1. City Commission (5) 2. City Commission plus 2 (7) I Entirely independent CRA Board (9 is the maximum) 3 Meeting Minutes CRA Advisory Board Boynton Florida December 2016 Mr. Simon clarified that the Board has to make recommendations. If there is anything lifferent that the Board would consider, then that could be proposed. Several membeK-, guggested prioritizing the options. Discussion ensued on which options the Board would recommend, with the first option being dismissed. Mr. Hendricks noted that with the City Commission being the CRA Board, politics of City governance can get in the way of the CRA's task. Having some Commissioners on the CRA Board would help since they have a good knowledge of how the City operates. There was a question it the second recommendation (by the Grand Jury) could be negated by this Board's recommendation on the first Grand Jury recommendation. Mr. Simon explained that No. 2 would be asking the City to amend their ordinance. Mr. Simon wondered how the Board felt about the balance on the Board if they were to choose option 2. Dr. DeVoursney thought that having two knowledgeable lay people who live in the CRA area would help the balance. Ms. Rossmell clarified that the Statue says that for governing bodies that have five members, they can appoint two additional persons to act; therefore, they could not have a 514 composition. She reiterated the options. With the third option, one or more of the members can be a member of the City Commission. Discussion continued about the makeup of a mixed board, with Ms. Melley pointing out that with a 512 composition, they have to reconcile the perception of people's greed with the people's perception of political concerns. She recalled the history of the previous (independent) Board, which was "rampant" with backdoor deals. Chair Cross suggested five lay people and two Commissioners from the two CRA Districts. Dr. DeVoursney favored adopting the Second Recommendation, changing the word to "shall," because he did not think the City Commission would go with a 512 composition. Chair Cross opened the floor public comment. Harry Woodworth, 685 NE 15 Place, President of INCA, believed the Board was on the right track. He suggested a civilian board with good candidates who have met specific criteria. Chair Cross closed the floor to public comment. Ilis. [Tielley proposed the following priorities: best practice - 5 lay people and I Commissioners; and second best - 5 Commissioners and 2 lay people. M Meeting Minutes CRAAdvisory Board Boynton Beach,Florida s December t 2016 Mr. Hendricks wanted there to be someone to keep an eye on the Board so that it does not create any "shadowy areas." Dr. DeVoursney wondered if they could say they "strongly recommend" No. 1 and then have No. 2 if No. 1 is not favorable. Ms. Melley wondered how to put "teeth" into their recommendation. It was noted there is a lot of discussion on record, and they could add specifics and the word "shall" to the recommendation. Ms. Melley wanted to see something built into the ordinance that provides protection for the process, and Mr. Simon suggested adding grounds for removal. Ms. Rossmell advised that the CRA is established by the City, so any change to the CRA would have to come in from the City. Motion made by Ms. Melley, seconded by Mr. Maharajh, that they move forward with the recommendation of a seven paneled CRA Board comprised of five lay people and two City Commissioners who live within the CRA District; and that the CRA direct City Attorney Cherof to review the ordinance that established the CRA in order to put provisions in place that would protect those lay people based upon criteria deemed appropriate for Board dismissal. In a voice vote, the motion passed (4-1) with Dr. DeVoursney opposed. Motion made by Ms. Melley, seconded by Dr. DeVoursney, that. in the alternative, an alternate composition of the CRA Board shall be as follows: five City Commissioners and two lay people, to ensure the CRA District is adequately and properly represented by people from the community. In a voice vote, the motion passed unanimously (5-0). Dr. DeVoursney read Recommendation #4, regarding the experience of lay people on the board. Motion made by Dr. DeVoursney, seconded by Mr. Maharajh to accept Number Four as a proposal to the CRA Board. Discussion ensued on any possible additional criteria they may wish, such as residence, profession, etc. Ms. Rossmell advised that under the Statute, it says that any person may be appointed as a Commissioner if he or she resides in or is engaged in business within the area of operation of the agency, what shall be [unable to hear person speaking] for the area of operation of the county or municipality and is otherwise eligible for such appointments. She said it is not within this Board's discretion to say where the person can or cannot live, except to make it more limited. In a voice vote, the motion passed unanimously (5-0). Chair Cross moved ahead to Recommendation V, which was earmarked for "more Wormation." It asks if the Board wishes to set a cap on annual administrative costs. Mr. Simon said they • ., • the City runs at 19-21Simon 0 Ms. Rossmell stated that the CRA procurement policy was drafted very similarly to t • standards and • many requirements. However, there is • in lig • what the CRA can do, such as policies for special events. 11 Motion made by Mr. Hendricks, seconded by Dr. DeVoursney, that they do not suppo any change in the procurement procedure for the CRA. In a voice vote, the motio passed • (5-0). 1 11 rellIZVOINER Wriw;m MR9zzXMM=- 1. • and • • Draft • Benefits Agreemen'-. (assigned 1119116) Ms. Rossmell provided a review of the agreement, noting this Board is assigned create a "form" community benefits agreement to give the CRA strength in t agreement with a community partner/developer. She clarified they do not have to g paragraph by paragraph. The Board may also consider how a community partn I should be selected. She said they could probably get examples from other • b I this framework came from this CRA. However, Ms. Rossmell said that the CRA Boa I wanted more "teeth" in the agreement, with something to perhaps come back to thl- CRA Board if no measurable goals are met. Mr. Simon stated that the attached document is in their office now, and the Board ca look up samples of other agreements for ideas. He said that NuRock has not signed o irn it yet. The agreement could be tailored to every individual development. Mr. Simo recommended having some standard paragraphs and then some that could be adaptell Case by case. Dr. DeVoursney pointed out that on p. 9, paragraph 16d addresses the conditions f breach of contract, but does not have a liquidated damages clause. Ms. Rossmell sai, such a clause would strengthen the agreement. Chair Cross suggested having 1. specific amount of money filled in on the form. Discussion ensued on how they woul, calculate a dollar amount, with the suggestion being made that it could be calculated ol 10 Meeting Minutes CRA Advisory Board Boynton Beach, Florida December 1, 2016 the economic impact of the number of jobs. Ms. Rossmell emphasized there was no need at this time to figure that out. Ms. Rossmell said that in this contract, the developer's obligations are contingent on the performance of the community liaison. If the community liaison does not perform, the developer is absolved. However, the community liaison is not a signatory to the agreement. Mr. Hendricks advised caution with regard to the community liaison's role. Mr. Hendricks wondered what other things they could request future community benefits. Mr. Simon advised they could come up with something they would like to do and then ask the attomey if that is statutorily allowed, or look at the project itself and explore how the project could benefit the CRA in another way. However, the more the developer has to work on the community benefit aspect, the more resistant the developer is going to be because he has a job to get done. Mr. Simon advised the Board not to get too much into the specific details or possible scenarios, but to concentrate on the paragraphs that ran be used generally. In response to a question by Ms. Melley, Mr. Simon said that the impetus for this assiv,nment came from Commissioner Romelus wi7*n4k4-tA-,46x• heard the topic discussed at a session. The agreement was from Overtown, and staff is making an effort to obtain a copy of it. Chair Cross wished to delay the discussion until they receive a copy of the Overtown agreement. V. Consent Motion made by Dr. DeVoursney, seconded by Mr. Hendricks, to approve the Consent Agenda as it appears below. In a voice vote, the motion passed unanimously (5-0). B. Approval of Period Ended Nov. 30, 2016 Financial Report C. Monthly Purchase Orders V1. Information Only A. Public Comment Log - None received. B. Marketing and Business Development Campaign C. 46 th Annual Holiday Tree Lighting & Concert D. 45th Annual Boynton Beach & Delray Beach Holiday Boat Paradc 7 Meeting u CRA Advisory Board Boynton tn ,' Florida December ( 2016 Vil. Old Business: (Recommendations on CRA Board Agenda Items 11 December i A. Discussion of Request for Proposals and Qualifications for the Coftag(-. District Site Mr. Simon reported there were no responses to the RFP, although they received calls from developers regarding housing in general, or affordable housing. The single-family aspect was not discussed as a product that their builders build. Mr. Simon wanted to figure out why they did not receive a better response. He believed that once Town Square is moved forward, it that would attract more attention to areas that are at greater dsk. He said he was going to talk to developers like Lenard to find out what they think would be Chair Cross said they had heard from the community that they want to see more single- family homes. 1 01 Mr. Simon reported that the CRA is currently negotiating the purchase and sale agreement - the property met the criteria of the LOI, and part of the project involves a request for funding from the CRA. Chair Cross thought initially all they were doing was giving them a strip of land - no other monies were coming from the CRA. Mr. Simon explained that in order to purchase property, that's what they had to do. In March, they showed staff what they wanted to build and asked if they could buy the property. After following procedure, they are now working on getting it approved, and the CRA is still trying to get the purchase and development contract together - one is contingent upon the other. Mr. Simon advised that staff has been discussing the details of the contract with attorneys and the developer has been working with the City. The developer has begun presenting to Boards regarding requests for funding. He continued he met with them the prior day, and communication is open and productive. Chair Cross said they did not have enough parking, but Mr. Simon explained the parking is a City requirement and there is still "back and forth" conversations on the topic. Dr. DeVoursney wondered if the CRA investment of $882,000 for Phase 1 would come out of TIF money and if the CRA would have to put that in a budget (pg. 1 of the project Meeting Board Advisory Boynton Ba December ,,.1 outline). Mr. Simon answered that the City is no longer requiring them to move the storm water. The developer is asking for the money upfront; it is not in a TIF g askingRegarding the CRA Direct Incentive Funding Program, Dr. DeVoursney noted they a for $4,060,000 to be paid over I years. He wondered if they-• to discu Phase 2, since the developer is building the project in phases. Mr. Simon did not wa to get too specific about the item before the developer presents it. He wanted the Boa to know that the CRA has been -•• . a contract,been presented request •r funding, and specifics may change. He advisedBoard to think abo their questions f• - - Simon• that the meeting on - priorday wentwell .• this item is only update,an •r a formalaction Mr. Simon advised they have to publish the meeting dates one year in advance, and they are set for the first Thursday of the month. Approval is required by the Board to move forward with publishing the dates. Changes are not encouraged once the dates are published. However, if a meeting date is changed, the public has to be notified 72 hours in advance. Motion made by Ms. Melley, seconded by Mr. Hendricks, to accept the meeting dates as presented. In a voice vote, the motion passed unanimously (5-0). Chair Cross opened the floor to public comment. Harry Woodworth, 685 NE 15 Place, President of INCA, spoke about Ocean One. He requested any updated information for placement in their association newsletter. He commented on the problems in the proposal, particularly with regard to the scattered parking places. He said the numbers do not work, and asked the Board to examine the proposal carefully. Chair Cross closed the floor to public comment. Mr. Aendricks expressed concern about the project, particularly the west wing. HL - thought it would be the most important project for a long time, and was afraid the City Vid not learn their lesson from Casa Costa.. He hoped the plans were merely conceptual and could be modified. Chair Cross expressedmisgivings about the amount of money involved. N Meeting Minutes CRA Advisory Board Boynton Beach, Florida December 1, 2016 Ms. Melley noted it is too much money per square foot of finished product, and she wished to see a quantified per square foot amount to develop it. Mr. Simon referred to the final pages of the document for a breakdown of costs. Discussion ensued on mixed use projects in general, with comments being made abo the failure • commercial/retail. There are many • in the condominiu e documents regarding the type of retail, and the units are very small. Mr. Simon believ I it was a mixed-use project • to zoning requirements. A brief discussion ensued abo the nature • mixed-use • Mr. Simon reminded everyone about the tree lighting event on December 2, 2016 at 5:30 p.m. X Future Agenda Items= A. Direction Regarding the Disposal • CRA Owned Properties Located at E. MLK, Jr. Blvd. ♦ NE 9th Avenue to St. Paul AME Church of Boynton Beach (appraisals ordered 11/23/16) Upon motion duly made and seconded, the meeting was adjourned at 8:37 p.m. [Minutes transcribed by J. Rubin, Prototype, Inc.] 10 CRA BOARD MEETING OF: January 10, 2017 Uw;gfl���� SUBJECT: Signage — Marina Businesses Open During Constructior SUMMARY: Per the Board's direction at the December 13, 2016 meeting, the CRA has installed six additional signs at the Marina reading "Business Open While Improvements Are Being Made." See Attachment I for more information on specific locations for each sign. The signs were ordered from Third Street Signs and installed at the Marina during the week of December FISCALIMPACT:FY2016-2017 Budget, line item 01-51620-224 CRA PLAN/P ROJ ECTIPROG RAM: 2016 Boynton Beach Community Redevelopment Plan Michael Simon, Interim Executive Director Marina "Open for Business" Sign Locationt AW ©« #161107030 INCOLLAGE Datd}: ?; Lat?Lm: 28,627059 -M.OSS790 Order No. 62210 Marina Entrance Le = Marina Entrance Right = Marina Parking Garage Entrance z, = Marina Stop Sign Eall Marina Stop Sign North ,V� = Marina Stop Sign South ;,� ., a -if 111 s theirSllihMARY: At the December 13, 2016 CRA Board meeting, the CRA staff presented thz Board with an update on the NuRock Development Partners d/b/a Ocean Breeze Housing Partners, LP, redevelopment project known as Ocean Breeze East (see attached). The CRA Board requested an update from a representative of NuRock Development Partners at _': meeting. at this meeting, see attached FISCAL IMPACT: NIA -T� requiredCRA BOARD OPTIONS/MOTION: Unless otherwise offered by the CRA Board, a motion is not at this time, Simon,Michael Interim ExecutiveDirector Simon, Michael From: Robby Block <rblock@nurock.com> Sent: Thursday, January 5, 2017 10:14 AM To: Simon, Michael Cc: 'allanschnier@gmail.com' Subject: RE: CRA Board mtg - January 10, 2017 Good Morning Michaela Happy New Year to you as well! We are trying to determine a route for Ocean Breeze which will be the upcoming revitalization RFA due in early February. We are analyzing the RFA and will need to look at the contract again to make sure it works and doesn't need changes. I thought the meeting was going to be next Tuesday. I have 2 conflicting meetings that afternoon already and have talked to Allan about giving the update as a representative for Nurock. Do you think that will be an issue with the CRA? I doubt FH will release the list of applicants for the 5 large counties by next Tuesday, but the only update on that project is that we are in the State agency process. There still hasn't been a ruling from the developer challenge on the local government contribution, but its anticipated that FHFC will prevail. Let me know your thoughts? Thanks Robby From: Simon, Michael [mailto:SimonM@bbfl.us] Sent: Thursday, January 5, 2017 9:58 AM To: Robby Block Cc: 'allanschnier@gmail.com'; Lara Heit; 'tduhy a@llw-law.com'; Utterback, Theresa; Harris, Susan Subject: CRA Board mtg - January 10, 2017 Hello Robby and happy new year. I wanted to reach out to you again regarding the CRA Board's request to have someone from NuRock Development attend their January 10, 2017 meeting to discuss the status of both project applications. Can you please confirm that someone will be there? I'm wishing the MLKJR South project good luck as it begins its journey through the lottery process. Good luckrl Thank you. Michael Simon, Interim Executive Director Boynton Beach Community Redevelopment Agency 710 N. Federal Hwy. I Boynton Beach, Florida 33435 o: 561-600-9091 1 f: 561-737-3258 S1rnonM@bbft.us I w .catch vnton.com The information contained in this transmission may be legally privileged and confidential. It is intended only for the use of the recipient(s) named above. If the reader of this message is not the intended recipient, you are hereby notified that you received this communication in error, and that any dissemination, distribution, or copying of this communication is strictly prohibited. If you have received this communication in error, please notify the sender immediately by reply email and delete the message and all copies of it. t BOYNTON 115�, I ,,, RA CRA BOARD MEETING OF'. December 13, 2016 �111 1 # - r 3 SUMMARY: At the ust 9, 2016 CRA Board meeting the CRA Board selected NuRock Development ` operating as Ocean Breeze Housing Partners, LP to redevelop the CRA -owned r or ; r Ocean Breeze East. Ocean i, g Partners is offering - $800 ,000 for - vacant site located at 700 N. Seacrest Boulevard. Board has committed $100,000 as a localgovemment projectrr; ti;sobtaining project funding. NuRock Development Partners submitted their application to the Florida Housing Finance Corporation's (FHFC) 4% low-income housing tax credits program along with a te Apartment October According to r: provided by 'tr�M Block,. r : Housing staff scored and ranked all projectson r •; il' and presented their findings to the Board of Directors fbr final ranking and financial leveraging calculations Attachment Blockprovides greater details in his memo conceming their applicationit ut in summary, 43 applications were s. .. and ' . proposed r . - outside of - range to receive funding. There Is a process In place 1br applicants to protest the Florida Housing Board's findings which Is currently being contemplated by NuRock and updates on their progress will be provided In the future. FISCAL IMPACT:To be determined BOARDCRA ADVISORY RECOMMENDATION: CORA BOARD OONS/MOTION: Unlessotherwise offered r r y the CRA Board, a ,notion Is not :• :r at this time Micfiael Simon, Interim Executive Direj ATTACHMENT Agenda Ran XIII.A. OCEAN BREEZE HOUSING PARTNERS, LP 9794 Boynton Beach Blvd., Suite 219 Boynton Beach, Florida 33472 (PH) (561) 990-2614 (Fax) (679) 218-1520 �► �J Mr. Michael Simon, Interim Executive Director 7. ymft2k2z� i -rr-wTmF-ttN f, 710 N. Federal Highway Voynton Beach, Florida 33435 RE: Residences at Ocean Breeze and Heritage at City View Florida Housing Finance Corporation Update The Idtcr is being written in connection with dw two projects under contract with thf,- Cliz Residences at Ocean Breeze mid Heritage �rN attend the meeting, as I have a prior commitment. Please acceTt this letter as an update to dw current status of both projects. The Residences at Ocean Breeze application was submitted back in October. Florida Directors for approval December Od, Prior to the Ink version of the Request for Applications There were 43 applications submitted for this particular RFA throughout the State. As we stand today, Ocean Breeze falls outside of the funding range. Once the Board approves stafrs recommendations for approval on 1219, applicants have 72 hours to file a Notice to Protest. It is our intention to file a protest as we have already engage legal counsel. We will be looking at the other applications, and exhibits to determine if any of those applications have issues. There is a lot of uncertainty in the Affordable Housing industry following the presidential election. Tax Credit equity F',ricing has taken a hit and i to Y 4% Housing Credits has stalled. We anticipated this in our underwriting, but other applicants/developers did not and therefore there may be more SAIDL Rmds returned due to does not being finimlly feasible. We feel that there is still an opportunity to got back into fimding range and we intend to continue to challenge. We will keep you posted throughout the process. (C"WEAN BREEZE '111"I"IOUSING PA.'17 ERS, LP 8794Hoynton Beach Blvd., Suite 219 Boynton Beach, Florida 33472 (PH) (561) 990-2614 (Fa:r) (678) 218-1520 It is our intention to work through the remaining minor details of the Commurfity Benefits Agreement once our application is submitted to the state. Thank you for the opporturifty to give this update and again I apologize for not being able to attend in pemn. I will continue to give you updates throughout the process, Robby D. Block, Authorized Agent for Pmtnership I 1+ RR€ `■ t r r e a_ t R U 5. MIN . The PURCHASEWSobligation 1 close on the purchaseof the ["rope["roperty is contingentan the followfiW. a) PURCHASER obtaining site plan approval from the City of Boynton Beach, Florida 1 "CiI build 100 residentialon the Property for occupancy by R income housebolds. b) Prior to the expiration of the "MR!' Allocation Pedod (as hereinafter defined), PURCHASERreceiving1 invitation4 creffit underwritingfor 1awaW of Apartment1h=tiveLoan fromthe` t a:. HousingFinance Corporation ("Florida R and 6) Seller ddivming marketable t,' 1 the Property t only tothosetitle exceptions acceptableto PURCHASER, mom specifically ! i, hwein. 6. UAT_E APARTMENT W-QM9-M LOAN, ALLOCATION OF 4WHOUSING 9REDITS AND PALM BRACH -COUNTY TAX EXEMPT RQM&AMXIM��Ri ftLe "Allocation!) Prior R the lastdateR= applicable Florida Housing Request for Applications,response 1+` + t 1 h -PURCHASER rt application :tr l ot R that includes I7 ' 11 �'il which 1 estimated to be notOctober 31, % Y 1" F "AllocationApplication P_it1 7. ALLO=QN. PURCHASER shall have until February 28, 2017, in which to obtaintheAllocation. r., i' Allocationshallbeevidenced by 4 Itcradit1l;i t" II A195 I'�' 1 .;1 r R ?#:.•R � r #! Y � 'i 1:� 1 �"iti ! 11'R R, t R i t l f7 its 12.5 Additionalt _fit..,' ,Suchother documents PURCHASER or ! 'Btle Company may reasonably request ffist SELLER execute and deliver, and any other waaa !' ♦ t: [�+ •r �: c� #+ usa :# i is �� �: !' �1 �� ! # 1 1!I ♦ 1 l 1 f 1 t 577 1 that exceeds Closing $11000. 13.2 ClosingCgLts,SELLER shall #; for documentary on thedeed, recording the deed # : E ianycost : # #with curingtitle.Purchaserpay all offia closing expenses.party 1:''responsiblefbr their reapective attorneys' 13.3 ♦: #' ! 1 am. PUCHASER ' !t # subject to thecredits,offsets:It prorationssetforth I 1 SELLERand PURCHASER r. shall. execute, and deliver to the Closing AgentClosingDocuments. Closing} t r other recordableClosing oc in Iappropriate public «ow 13.4 Existing Winzes and Other Liens. At Closing, SELLER shall obtain, or t be obtained, satisfaction or orecord ofall mortgages,liens#:#judgments solicable to andencumbering 14. r t . _i eI►!I 1 � Il sj , r �r SELLER hereby • represents,covenants7waffantsto PURCHASER, asofthe MfwflvoDate andasof Closing follows: 14.1 AMLhori The execution and delivery of this Agreement by SELLER and the consummation by SELLER sa tfim transactioncontemplated ! this g+ ' #iarawithin SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER 1 accordance with its terms. The person executing this Agreanenton behalfof SELLER 1.,. been t authorized M act on behalf of and itobind 1.. SELLER,andthis Agreement represents a valid and binding obligation of SELLER. 14.2 Tjfle� SELLER is 1will M3 on the ClosingDate, the ownerofvalid, good, maketableandinsurabletitle tothe Property,fire andclearofall liens, is t enwmbrances andrestrictionsofanyIdnd,except e Permitted Exceptions (andencumbrances oftecord which will be discharged at Closing). 14.3 Litiption. There, am no actiom, suits, proceedings or investigations pending or threatened against Seller or the Property affeding any portion of the Propmly, Including but not limited ocondemnation i N 1s. i M Possmion, There areno partiesother SELLER in possession or with a right to possession of any portion of the Property. 14.4 Acts Affectin LZ kWartv. From and after the Effective Date, SELLER will refrain from performingany 1 M'excavation,. or 1' Si other change or improvement upon or about the Property; (b) creating or incurring, or suffbring to 4 X! i: : M M'. # ;1 l !till IG�7a9:1i71��1 I: 14 1 � e ak ■ sa termination of this Agreement; provided, however, that PURCHASER shall also be responsible fDr the removal of any liens asserted against the Property by persom claiming by, through or MMM I... ' i"1 4 1 ! �Mfflt in which event PURCHASER may ternimate this Agmment, reovive back its .Deposit i; and neither party have 11rightshereunder1 spwifia performance. Both Parties agree that if an extension is requested, such extension shall not be unreasonably withhold. If tdefault has not # cured within the7 ii :; #,. period, #'.., 1 non -defaulting may # described ; M# M= i r t'` provisions 4this Section 15 shallsurvive the# • 11 of this Agrement. ■ k6. y notices#. FIIn this Agreementmust 1' in vaiting and shall } considered f- Fwhen received 1certified mail,returnreoedpt or personal felivery to thefollowing addresses: if 1 BoyntmBeadhCommunityR.1e' #f.If" Agency Executive Brooks 710 N, Federal Highway Boynton *# Florida With a copy'.'1° Kenneth Dodge,Esquire, 1 }#! 1 5 [Walker,PA. 515 North ! : a % 150k. WestPalm,Beach,1 1. 33401 If 1 Purchaser- Ocean Breme Housing Partnaw, Attention: Robby D. Block, Authorized Agent Partnership 8794 i1 I f Beach Blvd., Boynton • 1 ! Facsimile:Telephone: (561) 990-2614 i Email: rblook@nurock.com Ff to f:NuRock Companies Attention: i #;Hosldns 800 N. Point Parkway, AlphareM, GA 30005 Telephonw.0.`' Facsfinile: (770) 552-8748 Email: 4s l With a copy to: Arnall Golden Gregm Attention. Mark Gould Suite 2100 171 Seventeenth St. NW Atlanta, 30363-1031 Tdophone:(404) 873-8782 FacalifF a Email: 21. DEVELOPMMU AND SALE OF THE PRO-PERTY SELLER an -11 PURCHASER acknowledge i. 'Property being sold # # PURCHASER _..fbr the solei i. of # g ffi i<s1 t development. 21.1 e a f i l• PURCHASER 1! � R:�. agrees the SELLERshall4reasonablyapprovehdesign 4 theProjed, PURCHASER SELLER"I submit plafts to the SELLER for review prior to submission to the City for approval. shallprovidecommentsor approval of thedesign to itat itsnext regularly scheduled Board meeting aftor PURCHASER submits plans for appmval. 21.2 REQUIRED * Is aD e ! ! ♦ PURCHASER 1 ; inOWPOrate thei # t r design 1.: 1 # # k into the Project. - a) # ' by Me LSELLA,.—�, a mecbanical gate may be installed at the enhy and exit of the Project requiring proof of residencyfor 1 b) The Project shall haw a 5' sidewalk constructed around the enfirety of the Project within the public right-of-way. The Project ll have sireaffightsapproved design 1the SELLER and City-, placed outside the perimeter of the Project in the City right-of-way at intervals according tothe City code. intervalsd). The Project shall hm trees in species and calker approved by the City and S13LLER installed outside the perimeter of the Aroject within the City right-of-way at / • to theCity and 21.3 Limitation F r Use of Property."'' aelmowledgest 1:Property will be rezoned toMixed-Use Low 2. 22. PEYELOPAMW T1 followingar must bedocumented i#, i! ii# k f # "v##' E. ' a) Submission of application U the City for site plan approval within ninety 9 days following receiptof 1! k. 1'commitment 1 SAIL andtax creditallocationfrom a Achiev6ment of I i + from re' City by October 0 , 2017 c) Approval of financing for the Project including the construction loan and permanent conunibnent manamountsufficient 1 develop Project by December 31, 2017, PURCHASER provide SELLER, proof of financing for theProject. ligilgirml ["IKI n'd or on whose behalf lie or she is signing with respect to all provisions contained ill this Agreement. 23.10 No Recording. This Agreement shall not be recorded in the Public Records of Palin Beach County, Florida. 23.11 Surviygl. 'rho covenants, warranties, representations, indemnities and underiakings of SELLER set forth in this Agreement, shall survive (he Closing, the delivery and recording of the Deed and PURCHASER'S possession of the Property. 23.12 SELLER Attorneys' Fees and Costs. SELLER acknowledges and agrees that SELLER shall be responsible for its own attorneys' fees and all costs, if any, incurred by SELLER ill connection with the transaction contemplated by this Agreement. 23.13 PublieRecords SHLLER-is public agency subject to Chapter 119, Florida Statutes. The PURCHASER shall comply with Florida's Public Records Low. Specifically, the PURCHASER shall: 8. Keep and maintain public records that ordinarily and nocessaril would be required by the SELLER in connection with this Agreement; b. Provide the public with access to such public records on the sarf terms and conditions that the SELLER would provide the records and at a cost that does tv exceed that provided in chapter 1] 9, Fla. Stal., or as otherwise provided by law; C. Ensure that public records that are exempt or that are confldentii and exempt from public record requirements are not disclosed except as authorized by law; and d, Meet all requirements for retaining and providing public record and transfer to the SELLER, at no cost, all public records in possession of the PURCHASE]rr upon termination of the contract and destroy any duplicate public records that are exempt C confidential and exempt. All records stored electronically must be provided to the SELLER in format that is compatible with the information technology systems ofthe SELLER. SELLER shall, upon request, provide guidance to PURCHASER as to the public record keeping and reporting duties that are imposed upon PURCHASER as provided above and shal take all steps reasonably required to assist PURCHASER in not violating them. The failure a PURCHASER to comply with the provisions set forth in this Agreement shall constitute Default and Breach of this Agreement. If PURCHASER fails to cure the default within sevel (7) days' notice from (fie SELLER the S ELLER may terminate the Agreement. 23.14 Cgnimunity Bencrits Aereement. PURCHASER understands and agree, that SELLER's obligation to close is contingent on PURCHASER's execution of a Communit., Benefit Agreement at closing, in such forin as required by SELLER. � 3 cc Z FA I I J At 4T;A -9 a 0 MTONI 0 IN WMESS WHMWOF,< the *w§ , have executed this Agreement G +2 the I ©%«Qy« 6ut#$y4 1 OCEAN $±f®°f HOUSING PARTNERS, LP d\ ° � *" M,1I : 124k 161 <Kdd2 w ■ °3 N 2y Z Print B. Grant Title:«Authroized Agent ffir ±* 2* ©©«<4£r w: 6 « ate: <.»a 2 * Q« a +*} ?*« m 2 c 12= � a 6 121 ! : o I 1 A CRA BOARD MEETING OF: January 10, 2017 — Tabled 10110/16 I � Consent Agenda LX I Old Business I I New Business I I Legal I I Information —O—nly—] SUBJECT: Consideration of Community Benefits Agreement between the CRA a• nd Ocean .ireeze Housing Partners, LP (NuRock Development Partners, Inc.) for the Ocean Breeze East 7roject in the Heart of Boynton SUMMARY: At the August 9, 2016 CRA Board meeting the CRA Board selected NuRo6l Development Partners doing business as the single asset entity, Ocean Breeze Housing Partners, LP to redevelop the CRA -owned property known as Ocean Breeze East. Ocean Breeze Housing Partners is offering the CRA $800,000 for the 4.5+/- acre vacant site at N.E. 7 th Avenue and Seacrest. The property appraised at $1,440,000 in July 2016. The project is dependent upon receiving funding from Florida Housing Finance Corporation in mid- December. r-Kol WSJ sOAM #101 el.71 The attached Community Benefits Agreement between the CRA and Ocean Breeze Housing Partners requires that Ocean Breeze Housing Partners: 11r'ork in partnership with the Boynton Beach Coalition of Clergy, acting as the designated Community Liaison Hold a job fair in partnership with the Coalition and local contractors prior to the start ot construction of the project to encourage Boynton Beach residents to work on the project * The developer shall give preference to Boynton Beach contractors for the construction work * 20% of the permanent jobs created by the project shall be required to go to local residents * The developer or the developer's general contractor shall pay Boynton Beach residents working on the project the current Palm Beach County living wage of $11.64. 110 IM 14 1117 CRAAB RECOMMENDATION: Option 2 — Recommend approval of the Community Benefits Agreement for the Ocean Breeze Project and Recommend having the Coalition of Clerg y work together with the Boynton Beach Falth Based CDC to beffew ensure, the teirms and Wndifions of the CBA are, accomplished. Z 1 0 1 0 n 0 0 1, Option 1) Approve theCommunity Benefits Agreement for the Ocean Breeze Project as presented Option 2) Approve the Community Benefits Agreement for the Ocean Breeze Project with revisions Option 3) Do not approve the Community Benefits Agreement for the Ocean Breeze Project Micha'eon, interim Executive Director ®Y r !4=41 Y 1 + i Y I F 11 ':1. 1 1' 1 I f =1 A Y 11 �!'. 121rr. 1 1. 1� 41 ";<i ; R Y l :1 Y:Y '1 Y i 1! rii Y W1 tolll Y !INal �- F R 1 ! i :Y { Y I: i r: r r rr 1 11111171 :I.:R Y 1 • k 1 11 1 ! 11 ff. li � .1 '. A 1 11 '+Y ;. PQ 1 r e 1 1 1. �• 1 i �! 4Y:. # i � FI1 R tiiY 1 i �f`i�•r r Y 1 Y1:; 1 Ali 11i1. Y iYtM ! Al A 1 !' Y ! 1'Y1 i Al - �:�1 r Yi •.., Yas i ! ;rA Plan;and tAnd IY 75 Ii '_a '� 1 MI 1 -^; ! 1! 1 Y i Y: 1. 1 1 IM! 1 h:!. � � �r. r !•. Y li till !Ii sill 1 i 1 I' 11 11 Tei Y M 11 �:1 !: 1 :1 : 1 Y 1 F,1=4 A �. 1M U-, 1M-07 in 1 [OMNI 1 J `,'• • • • • # ! 1 M/ 1 1 -d : Y'..Y 1 Y A 1 =,1, Y fl Y fI 1 IY � r � ',DIY" •��, r ':l is 1 Recitah. The as if fully recitals amhereby incolpmted.. forth herein. 2. Deflnitions. As used b:thisAgreement, 4f.." following :1 41 1!s Ann have the ! ! Y' 11 1 1 + 1Iincludell Y' ! Y 1both 1 ! singular 1 phualform): "Agreemenf"means this Community Bl'" 1 Agreement d4]Iri€].JVZj "Applicantn means a City resident intaested inworking for f)ccIqI-eL or a bcmll,mctoroiitlieProjec�,iiedW��andC�i residentsintantl4inworkingin permanent posons andlor on the property manag=ent team after the completion of constructiom Th"S tcfm " to such City residents before and aft= they we hired fixiobs related to the Project. C) "City" means the City of Boynton Beach. d) 'Vommunity Liaison7 means a formal or informal. organization or entity appointed by the CRA Board that assists in connecting City residents with job opportunities. means the Boynton Beach Community Redevelopment Agency, Area7mea1 s the land within ft bouadmies offt CRAjurisdictiom *e44e���� ill =toe'me= NuRock Construction Services, LLC_ 'GO t Faith Effort" means the respective M':arties will wdMIst g, reasomib 11'.e8nS to comply with the associated directives and/or provWons. 1 g Il a minimum wage to match that defined by the Palm County Code Of Ordinances Chapter 2, Article IV, Division 3. At time of Agrement� the Palm Beach County living wage is $11.64. n)IJ ------ Local lubcontraA CentqwtW, means. any SubconMictor (_RjLAgn2I.in IlLs Asoment I that is wholly owned by individuals who reside'in the City. kthe Subc,onttwtor's business is owned by a corNratiOn, then the corporation must be, S00?I_MNJ 2 Tf wholly owned 41 1 / 1 1 1 1 1 1riei1" ! 1 1'.► M 1 1 : Ili :1 i it 1- 0)21--21)wnee'shall. mm Oman Breeze Housing Pafters, LP "' - j 1 - 1 the X11 : t it 1 Agreement. -term "Party" I� means 'it individiW Signatory to this AgreernenL ' " , ' / I J mems I operativeCommunity RedevelopmentPlans �:Plans1 '1 CRA.r' '1 11`:;1" the Ocean Project ` Breeze1 id �. 1 Developer1 1 1 constructed 700 North ;+.Boulevard, Boynton�Beach, Florida,� described li' 1 1"Exhibitattached 1- IM and incorporated 1 eL. "Project 1 li' - meansthe property theCRA intends IJ convey to Developer for the Project. anId Development ,&.,greemcmt,,means a;1e 11-1 1' `i 1e Owner 1the CRA 1rthepurchase 1 thePrcJect' '11ti ed or j1d .. a �.a.. inch x ....' 3. No*es.notices =1 .1underthis Agreement shallbe 1writing andshall 1e addressed to appropriate _ Party addressforth below.Notices1' 1 1 4" # 1 h1 mail, A 11receiptrequested, and shall 1 - deemed G1:. 1 plthreei1 ys M deposit 1 the United w 11 Alternatively,1 i 1:. may1' hand 1 1 e1. and shall / deemed received on the date delivery, 1- 1 : II by the writtenreport1receipt of 1' courier service1., Party 11changeaddressor the name - 1 1 address1 itsattorneys1 giving itwenty0 day notice 1theother parties 1 the Agreement. The addresses of the Partiesfor purposes ofthisAgreement Developer: Ocean k a Housing ' ' 11 ers, LP Robert Hoskins, manager of the General Partner 00 PointPwkway, Suite 125 Alpharetta,i#1 a ON15 as 3 CRA: Executive Director _ �I 'i1 /�• _JI ►l' 711111 �1 `+A 1 ► *"! • 1 2 1 `' ► 11 111 1 " ► 1�. Recruit qfill ualified # ori " ! 4 %i. 1 Ittemporary and rl !:r Ill I efl ' job 1 1 i A ! 1 ` resulting est tGg from 60Project; b) Pre -screw job Applicants 1 ddezmim of Appli Provide A 1 ►! Orientation toApplicants,and where •!,i 1- i provide training to Applicants to Prepare the Applicants for the available positiow; C) Where necessary and reasonable, provide Applicants with continued training Applicants are Wred for jobs associated with the project, and FAct as a liaison between Developerandcommunityorganizations for the 1 ut n1 ► 1- ►spl :IA s ►111 !<1„1 41gi 1....... ►1.. f 1? '... S&YrObctCOMtrueflon Jobs.TheDeveloperwill make , Good 1 Effort ►;: AA 1 113711 of flute qualified I=al Subcontractors ffiat willhire and ! : 11 qualified Applicants to work on the proiecL and M * 1 • Ilr ►. 1' Refer and 1re w-ffiffir"mweriate-Applicants to ►r,nder the supervision EffortSubctPmtractors and Devel Developer will make a Good Faith A 1 match 1 Applicant's Ilasplumbing, landscaping, labor, !, needs 2 Subcontractor that can use those sidns on the ProjecL - q P. Inevaluating Applicants, D ► 1 *ishall not 1 `i Applicant MS'. iF 1 r K grounds theApplicant WasPrOVIOuslYmcarcerated on eM&%-misdemeanor charges;however, Developermayrapure any 'Applicam to submt to drug 7 hng at %�r time 1 I;�� 1 ' Project 1� hwe or may fire any Applicant _ who 1 Y. drug test s a 71an-2 4 It Applicants to work on theProject Applicants to use such training ilfuture work 1 I`. -construction industry.. �,1 Subecuitr d) RAREIIre aft Subcontractors to Butxmt payrolls of hired Applicants to the Developer months.Such payrollsmustinclude the name and !.addressof any Applicants that M hired to 1 on theProject, 1 # 1"withthenumber 1 hours Applicant worked and the amount eachApplicantpaid.Developershall .# uim this until :9 1 the CWtificatiOn 1 Completion is issued forthe 1 1 jecL C) Create a successfulprogram 1# il 11 locating : 1 hiring 'r 1 ! : 1 ti thatcan save as a model P..fituredevelopments I the City of BoyntonBea& Anysu& programshall not be considered proprietary I. 1 1Developer will Mime the Operational details of any Rich Program vnth the CRA upon. l e! :.ti:. by 1'. r CRA. .0bliggaonsy a" program for I ,, rmartent Jobs. Developer Agre�s 10 allocate a minimum of ' w 1 thepermanentjob positions 1 from l 1Project! 1 1 1 Applicants. 1 .1 Developer agrees J .+w,+, 1: whenhiring_ 1 for jobs associated with thei f i' Developer will; Provide a list 1 1b descriptions [. property management 1 10 1 including positions for a Property Manager, tc) the Community Liaison; designated I 1 A—!!,ctively recruit qualified tis 1 ;w: ffirough 1 Commun'ty Liaison by requesting 1 APPlicantsthat mi. I :': job's speci6cations, C) Give prefercnce y to qualified aad-4"moneed-Applicants mfirred from the Community ►) Track . 1 monitor, on semi-anmialbasis,1 progress 1 Applicants 7 :1 hired, and provide a1 i 1 1 1 7supportand training 1 hired Applicants necessary and Provide ll :m I !' l ::,KI on the Property l l: n: " :111 '. 1 ik: r;R 1including thosehired as result':i 1 ' Agreement, 1the samebenefits. Developer 1 :,iwill not -de ! `i 1 employ= ll i hired Outside 1 1thisg =111mi 1 1 1 : benefits not 1le 1 Applicants hired . 1 this•' J we31 ! i. 80"10324 5 on"..'1411 urnapm, -7-.8. L'V'09 W*ge' Developer will Pay (and Wift require aU Subconhmoors to pay) a Living Wage to all Applicants hired to Work during tile 0)WtrUCti(M of the Project and to Applicants hired to a Permanent position resulting from the Project arKVOr Developier's property management t0m. Developer shall not be responsible for ::I 1+ a Ilving Wage is Paid to City residents bired by third party entities flor jobs that are only incidentally the result of the PrOJCCt and over Much Developer has no control. Developer will, and will require all Subcontractors to, maintain payroll records for Applicants thd are hired and will preserve than and make them reWy available to the CRA for a period of no less dw three years_gfiff mn if don of L e �Ei-O-nstruction The- Jac-inturactoes and- S hours worked, and I b) Beginning at the date of issuance of the Notice to Proceed through ane y Afig the issuance of the Certificates Of OCOWancyr-, Developer will provide a report to the CRA every mx months that contains the information and rccords-If the Cmtraetor and 'bed su ecti n pmgrvb. desen in bs o (a) of this &9 -Project Is for Profft. The Parties agree and acknowledge that the Project is "fi)r profit- and that this Agreement shall not be construed so as tD unreasonably binder the economic feasibility of the PmjecL Therefore, the Parties agree. a) This Agreement is and SMI be suboriiinate to institutional financing. b) This Agreemezit is and shall be subordinate to the requirements of the Tax Exempt Bond program C.) This Agreement is and shall be SubmxEnate to any requirement of the Income Housing Tax Credit CUHTO) program A d) This Agreement is and shall be subordinate to any requirernerrt imposed by the Department Of Housing and Urban Development CUm,) on this project. e) If thery is a 1sure of the Project Property, the fimwjosing lender or the Successor in ownership sW not be bound by this Agreement, but may elect to bind enter into this Agreement under the idwfical tWM and conditions herem f) If an institutional lender for the Project deem any portion of this Agmment Objectionable, Developer sWJ make a Good Faith Eff-ort to convince am institutional lender to accept the terms of tins Agreement If am institutional lender will not accept a portion of the Agreemen4 that portion of this Agreement shall be ineflbotive, and deemed deleftd. 9) If a purchaser of the LIHTCs for the Project deems any portion of this Agreement 4h, mnr will make a Good Faith Effort to require Developer,s heirs, s ssors, ucce and assigns to be bound by the temis of this Agreement. 4-11-3--Effeedve Date and Tennhmdon. This Agreement shall become effective on the date of the last signature to this Agreement, and shall automatimfly terminate thror , yem aftt issuarice of the oertificate of completion for the projecL x 4-114. OuRrterlY Meetinp. Commencing at the effective date of this Agrecment� 9 representative of the Developer and CRA shall meet quarterly, unless both Parties agree in writing that less frequent meetings am appropriate. "-L5---AZn=dmeRts. This Agreement may not be altered, amended or modified, except by written instrument signed by the each of the Parties. 4-5- 16 Enforcement Mher-&LParty may file a written notice with the other Party concemm, the Other PartY's Performance under this Agreement. Each Party apm to mvesdgate any issues described in the written notice filed by the other Party relating to the implementation and adherence to this Agnmazient The Parties shall cooperate fiffly and promptly with any such invesfigation and shall make available all requested records and informadon reasonably dwmed relevant to the investigation, monitoring of compliance R' implementation with Ibis Agrewient, or the Annual Report. a) The Parties agree that upon written notice a failu== abide by the terms of this Agrement and prior to any default occurrence, Party shall have thirty (3 0) busium days to cure any declared defickney. b) tO cure a deficicncy-Mifthin.kp 30 busm' agree to emniSpage this Agreement or the n to I to theright other Party provided for in this Agreement, notice demanding mediation, Parties shall agree on a third-paity, nOtItrid, certified mediator who shall meet b parties at a mediation that will oocar at mutually agreed upon time and plaw. Tb, Parties must use Good Faith Efforts to try to resolve the dispute at the Inediati This Paragraph shall not be construed so as to require eidw-My Party to chang its POSi'd0n. ne Cost Of the MediStion and mediator shall he divided evenj among the Parties, but each Party shall bear the cost of its own attorneys, fees Costs, Any agreement reached at medlat'On shall bc reduced to wntmg and become a binding and enforueable agreement between the Parties. The fidlUrC Of a Party to abide by this proem; to participate in the selection of a mediator, mediation date or time, mediation location; or to use rsood Faith Effu to resolve the dispute at the Mediation shall be considered a breach of this Agreement. SWIM -1 8 The Parties to this Agreement undemand and accept ffiat the city is �Ot a Party to th's Agreement and no action may be taken against the City to enforce this A9rCMCnt or any provision thereof IN WITNESS VaMREOF, the parties hereto have =Lq Bym Date: Aujorized Rqmentafive for Print Name. By. Authorized Representative for CRA Print Name - SMISMI 10 Date. AM 'Afth Ocean Breeze East Project PURCHASE AND DEVELOPMENT AGREEMENT ! R 'CONFIf -t AM k of ! •aHERITAGE AT CITY VIEW HOUSING PARTNERS, LP, or its wholly owned affiliate assignee (hereinafter "PURCHASER", and together with the SELLER, the "Parties"). In consideration R TEN AND 00/100 00and the mutual covenantsd acknowledgedagreements herein set forth, the receipt and sufficiency of which is hereby heretoParties agree as follows: !w 1. PURCHASE AND SALE OF PROPERTY. It Is PURCHASEWs Int- parcels as listed and depicted in the attached Exhibit "A" (hereinafter the "Project Area") in order to construct a new mixed use housing communitY development on the south side of Martin Luther King, Jr. Boulevard in the Heart of Boynton community. Seller is the owner of the highlighted parcels within the Project Area as set forth in the attached Exhibit "A" and agrees to conveysell and ! PURCHASER said parcels on the terms R conditions set forth Parcels owned by CRA vdthin the Project Area shown on Exhibit "A" shall be known as the 2. PURCHASE PRICE AND PAYMENT. PURCHASER d SELLER have a to an overall ! acquisition budget of ! Million and 00 /100 D•($2,000,000.00) purchase of ll parcels within-ProjectPURCHASERshallprovideto SELLER purchase agreements for parcelsll Area R owned by iii Party # ! a Purchase Price calculated # R from the Two MillionD•($2,000,000.00) • !r' budget. acknowledge this could result in a nominalpurchaseprice for the Sellerowned parcels. understands and agrees that this calculation shall be utilized notwithstanding PURCHASEWs !iacquireparcelsR. 3. DEPOSITS. •O Deposit amount I!TWENTY-FIVE THOUSAND + /g 00/100 ($25,01)(3.00)shallbe deposited with Lewis,LongmanP.A. 'Escrow withinbusinessfollowing •hereof Initial Deposit shall be fully refundable to PURCHASER, If prior to the expiration of the Fe Nfi + ' i # ! ■ • " it • ! • ! ., # - �; ., + R # -Elk_ 1 # - # ! + a - • - ► fi R • + 3.1 Second Deposit. An addItional deposit in the amount of TWENTY -Ft THOUSAND AND 00/100 ($25,000.00) which together with the Initial Deposit shall be refe Alt .�Page 2 of 17 Period.to as the "Deposle shall be deposited with the Escrow Agent, at the end of the Inspection The Deposit shall be non-refiindable to PURCH LM M VUJ LMU Lu Ene Party entitled to retain the Deposit in the event ofthe cancellationisterminationhereof.At closln&Purchase be payable in cash, less the Deposit, and subject to prorations and adjustments set forth herein. Said "Deposit" shall be credited to Purchaser at assuming Section 2 Purchase Price and Closing Payment is met. f' • �� • - f FtTi4MI=-* MEM �MMM 5. CLOSING.' The PURCHASER'S obligationto close on purchase of the Property contingentis on • + a) PURCHASER obtaining site plan approvalfrom of Boynton Prior tothe expirationofthe NinePercent Perir ►(as hereinafterdefined), PURCHASER receiving an invitation to underwriting for an award of low-income housing tax credits ("LIHTC") from the Florida Housing Finance Corporation ("Florida Housing"); and 0 Seller delivering marketable titleto Property subjectonly i► those exceptionstitle ! r morespecifically setforth d) Closing is contingent upon Purchasees successful closing on the Thiri Party parcels. Closingicontingent• # of Party parcelif business days ofexecuting theThird ALLOCATION7. to obtain underwritingAllocation. The Allocation shall be evidenced by an invitation to credit # by Florida Housing.does not receive the Allocation and does not wish to Page 5 of 17 11.3 CornRliance with Laws and Regulations The Property shall be in compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of Closing. 11.4 Construction �Perm", "- The SELLER will cooperate with the PURCHASER with regard to signing and processing any applications and forms required by the City or other authores having jurisdiction over the PROPERTY to obtain building permit approval and such other design and construction documents as may be reasonably required by PURCHASER to permit the Project to he constructed and operated. The PURCHASER will be responsible for all costs associated with the formulation of the Project's design and construction documents as well any and all applicable permit fees associated with the Project. 11.5 Community R!iiiJeli!ili!!ii�'ii!,ii#iii�:11,iiiiii�l!l�,,,,,�il�i ilia; Contiributlon. The Boynton Beach Community Redevelopment M�, -aqreed 11-40 and development ofHeritage City View, mixed use senior development along Martin Luther King Boulevard, in the Heart of Boynton. Said contribution will be in the form of a Grant to #W2351 VI M64-0= uura7wl f meet Florida ♦ + / }. # 12. CLOSING DOCUMENTS. The SELLER shall prepare, or cause to be prepared, thz ClosingDocuments set forth in this Section, except . * documents Company. At Closing, SELLER shall execute and deliver, or cause to be executed and delivered to PURCHASER following documents 12.1 � 3 (SELLERshall furnish a WarrantyDeed (the "Deed") conveying to PURCHASER valid, good, marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances and other# ! ► of other the PermittedExceptions,together Closingdocuments evidencing approval of the transaction by the SELLEWs governing body as the #the titleCompany 12.2 Seller's w Affidavits. to PURCHASER an owner's affidavit attesting that, to the best of its knowledge, no individual or against the Property under the applicable construction lien law that the SELbLE f f i d o v el i + • n I'sal an uncured TitleObjection. 12.3 Closing • forth Price, credits,all 1 1 prorations between to be paid at Closin& and the net proceeds due SELLER, which SELLER shall also execute and deliver at Closing. # + IT mnf*TWP #i # exceptions, Permitted • *; 12.5 Additional DOCuments. Such other documents as PURCHASER or Title Company may rea♦ - !ly request that SELLER execute and deliver, other documents - # • by or a .i+y necessary in order to close transactionandeffectuate the terms of this Agreement. 13. 13.1 Prorations. Taxes for the Property shall be prorated through the day before Closing. Cash at Closing shall be increased or decreased as may be required by prorations to be made through the day prior to Closing. Taxes shall be prorated based upon the current year's tax with due allowance#!' for maximum allowablediscount. at a date when the current years millage is •fixedand Ip! taxes will be prorated based upon such assessment and prior _ . If current years assessment is not ! be prorated 1' prior tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax bill which disclosesdifference amountof estimated at Closing zxceeds $1,000. Closing13.2 ! pay for documentary on the deed, - {.. recordingdeed Rany costassociated !with cueing title. Purchaserpay allother credits,closing expenses. Each party shall be responsible for their respective attorneys'fees. 13.3 Closing Procedure. PURCHASER shall fund the Purchase Price subject to the offsetsiR prorationsforth. SELLER ! PURCHASER(asapplicable) execute R deliver to the Closing■ Documents. Closing: (1) disburse the sale proceeds to SELLER, (!I) deliver the Closing Documents and a "marked -up" Title Commitment to PURCHASE I andpromstl4thereaterre 13.4 Existina Mortgases and 9ther _Uens. At Closin& SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens A judgments applicable to and encumbering the Property. 14. REPRESENTATIONS, .r, covenants and warrants to PURCHASER, as of the Effective Date and as'of the Closing Date, as follows: execution14.1 Authorl . The ! delivery of the consummation brA SELLER of Ri ! ! SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER in accordance representsbehalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this Agreement ! binding obligation of 14.2 Title. SELLER Is and will be on the Closing Date, the owner of valid, good, marketable Rinsurable fee simple title to the Property, ! - and clear of encumbrances and restrictions of any kind, except the Permitted Except -Ions (and encumbrances of R ♦ which will be discharged at Closing). 14.3 UtInation., There are no actions,proceedings ! •investigations Rthreatened R' R R- portion! Property, R - but not!t to condemnation actions. 14.4 Parties Xrossession or with a right to possession o' any portion , i- Land. 14.4 Acts Affectlpg_ftqpier�y. From and after the Effective Date, SELLER will refrain ! performing any graiding,excavation,f • IS. DEFAULT. 15.1 PURCHASEWS Default. In the event that this transaction falls to close due to a wrongfultocloseor default on part of be R Deposit,to retain the ofthis Agreement;provided, ! - PURCHASERshall also be • M ! ! removalr the of -f against the Property by persons claiming by, through or under PURCH4SEi, 15.2 SELLEWS Default In the event that SELLER falls to fully and timely to perform any of its obligations and covenants hereunder or if SELLER is in breach of any representations herein, PURCHASER may, at its option (1) declare SELLER in default under reement in which event PURCHASER Notice15.3 1 Prior to declaring remedies described herein, the non -defaulting! default to the defaultingdescribingor i ! ! of default detailtoenable reasonable personto determineotocure thedefault. defaulting shall have fifteen (15) days from delivery of the notice dur Ing which to cure the default, days from deliveryofnotice.Both extension shall not be unreasonably withheld. If the default has ! been cured within the aforesaid period, the non -defaulting Party may exercise the remedies described above. 15.4 ku-rvival. The provisions of this Section 15 shall survive the ten-nination of Agreement. required16. NOTICES. All notices bein writing andshallbe considered delivered when received by certified mail, return receipt requested, or personal delivery _ ! the following 4 addresses: Director,'if to Seller: Boynton Beach Community Redevelopment Agency Executive Simon Page 9 of 17 720 N. Federal Btywfta .. With a .pDodge, NorthLewis, Longman &Walker, P.A. 515 Drive,011 West Palm Beach, Florida 4# I to Purchaser: _ Housing F Robbyi Agent 4 Boynton d Boynton Telephone:990-2614 Facsimile; (678) 218-1520 rblock@nurock.com If to Purchaser: The NuRock Companies Attention: Robert 800 N. Point Alpharetta, 30005 Telephone: (770) 552-8748 With a copy •.. Arnall Golden Gregory Attention: Mark Gould Suite 11 171 Seventeenth St. NW Atlanta, GA 30363-1031 (404) 873-8782 (404) 873-8783 BINDING17. �- Y (The terms and conditionsof Agreement are hereby made binding on, and shall inure to the benefit of, the successors and permittedassignsA Partiesyr. SELLER may not without the prior written consent of PURCHASER, which shall not be unreasonably withheld. PURCHASER, and thereafter PURCHASER'S assignee shall be obligated R ! close the transaction contemplatedherein as if such assignee were theoriginalparty assignment by PURCHASER to an unrelated party shall be subject to the written approval of SELLER, which shall not be Ewithheld. i__01W r P89C 10 of 17 18. RISK OF LOSS. In the event the condition of the Property, or any part thereof, is materially altered by an act of God or other natural force beyond the control of SELLER, f a the Deposit and the parties shall have no further obligations under this agreement, or PURCHASER may accept the Property without any reduction in the value of the Property. Inthe •''t # * • - • • • - ( fWenMUM # k f #; terminate within fifteen (15) days after receiptof the notice from SELLER. SELLER hereby agrees to furnish PURCHASER with written notice of within two (2) business days after SELLER's receipt of such notification. Should PURCHASER terminate this Agreement,shall -d f •returned toPURCHASER r, thereafter the Parties shall bereleased fromtheir respective obligationsand liabilities hereunderShould PURCHASER elect not to terminate, the parties hereto shall proceed to Closing and SELLER shall assign all of its right, title and interest In all awards in connection with such taking to PURCHASER. .*; s BROKER! of any broker in connection with the transaction contemplated by this Agreement. Each Party shall ♦ f•character arising f t! 4 11 r out of or or •' f alleged to have been • by or on behalf ! or • However,connection with this Agreement. f ! exceed the statuto limits lorovided within Section otherwise waive its sovereignprovisions of this Section Closingor ! of 20. ENVIRONMENTAL CONDITIONS To the best of SELLER'S knowledge, the Property # �i ;: x # 1 � ,� ♦ • • Iii_! ;i � applicable zoning and environmental laws and regulations. IF 21. DEVELOPMENT AND SALE -PERTY. SELLER and PURCHASER development. submit21A Seller Des The PURCHASER agrees that the SELLER shall have the right to reasonably approve the design of the Project. PURCHASER shall plans to the SELLER for prior to submission to the CIt3f for+♦ # • r tlrrF tF Page 11 of 17 a 7age 12 of 17 Groundbreaking occur within a (2) months followingof building permit.be •.nce at the cerema and participate Temporaryor permanent certificate of occupancy . be provided monthseighteen (18) a s building permit 22.1 Default with Regard to Project Elements. If one or more of the required Project Ele:mexts Is a a rte2 iz tkis SeattrzA a - !a strictly met, M PURCHASER . provided notice -if FURat,from meeting the timeline, and SELLER has r not . in writing to the same and which approval a be reasonably withheld, then (a) if such events are contemplated to occur following the Closing but fall to occur as required, then the PURCHASER shall be required to reconvey the Property released from any and all obligations under this Agreement and (b) if such events are contemllated to occur 4-.rior to Clodng but fall to occur as hereundera treated as provided in Sectionabove.parties understand and agree that in such instance SELLER shall be entitled to the Deposit in full and final satisfaction of 'r obligations hereunder.to work reasonably with PURCHASER working. above, PURCHASER and SELLER agree that time is of b LMAISCELLANEOUAt 23.1 General. This Agreement, a any amendmenthereto, may be executed a e r of a a, . r . i .O constituteshall, together, one and the same instrument. The section and paragraph herein contained are for purposes Y only and shall notbe A. . . . in construing this Agreement. Reference to a Section entire Section, i.therwise saecified No modification shall be of any force or effect unless in writing executed by Parties. This Agreement sets forth the entire agreemen and supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the Parties. This Agreement shall be interpreted in accordance with the laws of the State of . r 1a. The Parties hereby agree that jurisdiction.f any litigation brought arising out of this Agreement shall be in the Fifteenth Judicial Circuit In and for Palm Beach County, Florida,. s a any cause of a be . to federal jurisdictiononly, in the United States District Court. a D!istrict Ca of a r 23.2 Computation of Any - to time periods not measured In business days and which are less than six (6) days, shall exclude Saturdays, Sundays and legal holidays in the computation thereof. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. on th.- business day. Time is of performance of all obligations under Agreement.periods commencingDate shall not include the Effective Date in the calculation,f Neither23.3 Waiver. ot a party to insist upon ofthe termsr..!irovlslons,R ? i 4 of • fi r ofany itemby party• -:• of breachofthisAgreement bytheother party performance oftheir respectiveobligations hereunder, be Ma waiverof any rights or remedies that a party may have or a waiver of any subsequent breach or default in any of suchterms,provisions,covenants,or # # •', paragraph termination of this Agreement and the Closing. 23.4 Construction ofAgreement. TheParties tothis Agreement, through counsel, have participated freely in the negutiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the As used inthisAgreement,or amendment hereto,the masculine shall Include the includefeminine, the singular shall plural,tthe plural shall include context may require. Provisions of this Agreement that expressly provide that they survive the Closing shall notmerge intothe Deed. thereof23.5 Severablilty. If any provision of this Agreement or the application shall,for any •i /: toanyextent, •tet Invalid or •I _ Y remainder ofthis northe. ! 4 1 of Yrovisionto othe dk.i:i fl circumstances shall be affected thereby, but Instead shall be enforced to the maximum extent permitted by provisions of •n shall apply to any amendmentof 23.6 Handwriften Provisions, Handwritten provisions inserted In this Agreement d initialed by + r• printed provisions 23.7 Waiver of Jury Trial As an inducement to PURCHASER to enter thoseinto this Agreement, PURCHASER and SELLER hereby waive trial by jury In any action or 23.8 Attorneys Fees and -Costs. Should It be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable attomeys' fees and costs, includin6 appellate be awarded to prevailing party. Mrr.74-pmp l Page 14 of 17 full right and lawful authority to execute this Agreement and to bind and obligate the party f6t whom or on whose behalf he or she is signing with respect to all provisions contained in this 23.10 No Recording. This Agreement shall not be recorded In the Pubill Records Palm Beach County, Florida. representations,23.11 Survival. The covenants, warranties, # indemnities and undertakings of Agreement, • delivery and recording of the Deed and PURCHASER'S possession of the Property. 23.12 SELLER ,,rneys! Fees. and Costs. SELLER acknowledgesd agrees that SELLER shall beresponsiblefor ; ownattorneys'14all costs,any, incurredby PURCHASERSELLER in connection with the transaction contemplated by this Agreement. 23.13 Public Records. SELLER is public agency subject to Chapter 119, Florida Statutes. The PURCHASER shall comply with Florida's Public Records Law. Specifically, the a. Keep and maintain public records that ordinarily and necessarily R ► be 1 # by the SELLERin connection publicb. Provide the public with access to such public records on the same terms and conditions that the SELLER would provide the records and at a cost that does rim exceed that provided In chapter 119, Fla. Stat., or as otherwise provided by law, C. Ensure that ♦ # •i or confidential and exempt from public record requirements are not disclosed except as authorized by ss d. Meet all requirements for retaining and providing public records -t oft SELLER shall, upon request, provide guidance to PURCHASER as to the public records keeping and reporting duties that are Imposed upon PURCHASER as provided above and shall take ail steps reasonably required to assist PURCHASER in not violating them. The failure of ' '► M t t rt # ■ rt 1- 1 Breach of ■ cure the t days' notice Page 15 af 17 •1 111111111111 1111 111 1111111liqll! M -M V 40 1 Ucl 4V;Nff MI WAN 1AVA m • tm 7?�; 0 .1 7 -YOU: r -N Title: Authorized Agent for Partnership Date: 91/30/ 2.61 WITNESS: Printed Name: —&V4 110344jy L.ewis, Longman & Walker, P.A. Printed I I-TOYR, h 4f] IT -T47 -4r. irrok(OTMil ITA t M 2- PrintecTl1arne: Steven B. Grant Titl e: ,mv Cff PrintedName-Y • E. Martin Luther King Jr. Blvd. - 084345-21-10-00540090 - Lot 9, Block 5 of Palm Beach Country Club Ests • E. Martin Luther King Jr. Blvd. - 08-43-45-21-10 - Lot 10,11,12 & 13, Block 5 of Palm Beach Country Club Ests • 205 E. Martin Luther King Jr. Blvd. - 08-43-45-21-04-000-0202 -South 100 ft. of the West 5 ft. of Lot 20, 21 & 22, Robert Wells Subdivision 117 NE 0' Ave. - 08-43-45-21-104X)4-0050 -Lot 5, Blk 4, PB Country Club Ests 123 NE 9t" Ave. - 08-Q-45-21-10-004-0060 - Lot b, Blk 4, PB Country Club Ests * 129 NE 9ti"Ave. - 3,45-21-1 - Lot 8, Rik 4, PB County Club Ests • NE!'' Ave. - 3 -45 -2i -i - Lot 9, Blk 4, PB County Gub Ests • 141 NE 0' Ave. - 08-43-45-21-10-004,0101) - Lot 10, Blk 4, PB County Club Ests 151 NE 9s' Ave. - 08-43-45-21-10-004-01M - Lot 13, Block 4, Palm Beach Country Club Ests Blvd.THIRD PARTY PARCELS: * Martin Luther King 08 -43 -45 -21 -10 -OGS -0060 * 130 E Martin Luther 0: i �,:0LotsCDUrvtry Club Ests 1-10014-0040 + 4, Block.: Country Club Ests P 1 11 E 4 1 - Lot 7, Block -4,+ f. .4 1 11.1 1 - Lcyt 11, Block 4, PH Country Club Ests. 9" a 0843 -45 -21 -104M -0074D o' , Blodc 4, PH Country Club Ests WNTUTMiTc�T 4 CRA BOARD MEETING OF: January 10, 2017 C l l i II i I I I I ITEM:AGENDA XIII.C. SUBJECT: Status of the 2.97 Acre Project Siteknown as MLK, Jr. South SUMMARY: At the December 13, 2016 CRA Board meeting, CRA staff presented the CRA Board with an update on the NuRock Development Partners d/b/a, Heritage at City View Housing Partners, LP, redevelopment project of the 2.97 acre site partially owned by the CRA known as the MLK, Jr. South Project (see attached). The CRA Board requested an update from a representative of NuRock Development Partners at their January meeting. CRA staff has reached out to NuRock and requested their attendance at this meeting, see attached email. NuRock's application was submitted to the Low Income Housing Tax Credit Program by the December 3, 2016 deadline. FISCAL IMPACT' NIA .� � CRA BOARD .O• •NS/MOTION: Unless otherwise offered. ., motion is not required at this time EXAMEMIMEMMINEW -v Simon, Michael From: Robby Block <rblock@nurock.com> Thursday, r10:14 AM To: Simon, Michael @. Subject: RE: •A:.. mtg 0, 2017 Good Morning Michael, Happy New Year to you as well! We are trying to determine a route for Ocean Breeze which will be the upcoming revitalization RFA due in early February. We are analyzing the RFA and will need to look at the contract again to make sure it works and doesn't need changes. I thought the meeting was going to be next Tuesday. 1 have 2 conflicting meetings that afternoon already and have talked to Allan about giving the update as a representative for Nurock. Do you think that will be an issue with the CRA? I doubt FH will release the list of applicants for the 6 large counties by next Tuesday, but the only update on that project is that we are in the State agency process. There still hasn't been a ruling from the developer challenge on the local government contribution, but its anticipated that FHFC will prevail. Let me know your thoughts? Thanks Robby RobbyFrom: Simon, Michael [malIto:S1monM@bbfl.us] Sent: Thursday, January 5, 2017 9:58 AM Cc: 'a Ila nschnier@gmall.com'; Lara -Utterback, Theresa; Harris, Susar- Subject: Thank you. Simon,MichaeL Director Boynton Beach Community RedeveLo ;- o Florida710 N. Federal Hwy. I Boynton Beach, . 561-600-9091 x The information contained in this transmission may be legally privileged and confidential. It is intended only for the use of the recivient(s) named above. If the readiw of 6i =1W.,,6, -.,J RA� S111MARY: At - August 'E • CRA Board:i a the CRA Board selected'o Development Partn- Heritage at City View HousingPartners,based on proposal to redevelop the 2.97 acre site partially owned by the CRA known the South:.- at City View Housing Partners, Floridafor proposals to redevelopment is proposing to construct a three story, 76 unit senior rental housing development and has applied to the State of Florida for a 9% Low-income Housing Tax Credit Program for funding. The project is dependent upon being awarded funds from Housing Finance Corporation. Based on their previousexperience, NuRock Development December 2016, as the deadline for application submittal with scoring completed in February 2017 and approval of -ct in March 2017. due to changes and challengesN ♦gram, the application extended until December 30, 2016. Please see the project update memo submitted by Mr. RoIlock of '• Develo,7ment Partners foradditional statusFISCAL IMPACT: If •xt. - the projectfunded w developed, M provide estimatedlocal government match contribution In the amount of $1,0G0,000 and the completed project will have an taxable value of appro)(imately $20,000,000 creating Tax Increment Funding in the amount o$254,000. motionCRA BOARD OPTIONS/IVIOTION: Unless otherwise offered by the CRA Board, a : at this time A-amr,'TACHMENT Agenda Item XIII.C. OCE AN BREEZE HOUSING PARTNERS, LP 9.4 Boynton.: h Bhrd., Suite 219 Boynton Beach, Florida 33472 (PH) ' a% ?, k"G-2614 (678) 219-1520 December . � � } i' � ' - .. } 1 ]', � � . K 0 1 � ^ ; ► �1 R it i �..,... issues with the RFA. I believe that all but one of the challenges has been resolved and as of today the current submission RFA due date is still December 3&. One of the challenges that were filed was eliminating the Local Government Preference, h gave City View a priority funding preference over other Palm Beach County applications. This challenge has not been . � `moi � ; R i l .�' s f:9 ► i ' r � i f '; �. � .•: exhibitsthe top application in Palm Beach County. We are continuing to finalize our application and x b., ready to submit a completeapplication by the deadline. delay iii'` not currently effect thescoring and finalBoard i % } : p ► `off n early 2017. It is our 1 • A work through- remainingtrdnordetailsof the Community l Benefits Agreement once our application is submitted to the State. Thank you for theopportunityM give this update 1Aagain I apologizefor notbeing to attend in person. I will continue to give you updates throughout the process. OCEAN BRtLHOUSING r i t Boynton9794 Boynton Beach Blvd., Suite 219 Beach,Florida 33472 MA t i'I v. r N. FederalHighway Boynton Beach, Florida 33435 RE: Residenew at Ocean Breeze. Florida 1 1 1: I Finance Corporation Update �Rj�t. ►J � 11. 11 1' letter is being written in connectiontwo projects1dcontract i the CRA, Residcnces at Ocean Breeze i 1 Heritage at City View. I apologizefor l,' being o attend the meeting, as I have a prior commitment. Please accept this letter as an update to the current status of both prej preectsne . Residencies4L'IBreeze applicationwas submitted back in October.Florida Housing staffscoredand rankedall projects on November f5 order o present..1theBoard1;: Directors o':approvalDecember 9". 4<' the ! 1 1 RequestforApplications i:I* 1 i- We stillfelt thatour 1 1 1 1would b':'. 1 11 y' 1 A basedonour conservative Them were 43 applicationssubmitted for thisparticular RFA stand• throughout1 we today, uOcean outsidei! 1funding! Board approves stafFs recommendationsfor approvalon"applicantshave 72 hours . file 1 to Protest. our intention 1file aprotest already age legal counsel. We will be looking The otiterapplications and exhibits odetermine if any 11,x' applicationshave Therelot of uncertainty 1 the Affordable Housingindustryfollowing i`. presidential election.equitypricinghit andtheBill i1fix thei Housing Credits has stalled. 1anticipated this inour underwriting, but other applicants/developers did 11 andthereforethem may b'. more fimds returned due to deals 1? being feasible. We feel 1? there1anopportunity to back into lii 1`range ■we intend to enteredPURCHASE AND DEVELOPMENT AGREEMENT This Purchase and Development Agreement (hereinafter "Agreement") is made and intoasof defined), fand between of • ..HOUSING affiliatePARTNERS, LP, or its wholly owned assignee (hereinafter "PURCHASER".. and together wilth the SELLER, the "Parties"). 1112(s] t 1110 17=4 11111,11,11111711 10 45 to t42 Lne t ,. Parties hereto agree as fbilows: 1. PURCHASE ! SALE OF PROPERTY.a . acquire parcels as listed and depicted in the attached Exhibit "A" (hereinafter the "Project Area") in order Rigconstruct a new mixedusehousing developmenton R side of Martin Luther Kin& Jr. Boulevard in the Heartof Boynton i owner of sell and convey to PURCHASER .1r said parcels on the terms and conditions set forth herein. The Parcels owned by CRA within the Project Area shown on Exhibit "A" shall be known as the 'Pra 2. PURCHASE PRICE M PAYMENT. PURCHASER and SELLER have ag�eed to. an overall land acquisition budgetof Two Million and 00/100 0 a , r($2,000,000.00) for agreementspurchase of all parcels within the Project Area. PURCHASER shall provide to SELLER purchase .^ all parcels within the Project a owned by"Third Party Parcels") r a Purchase Price forowned parcels in Exhibitbe calculated by subtractingu and binding Third Party Parcel r from the Two Million Dollar ($2,000,000.00) acquisition budget. The Parties acknowledge that this could result in a nominal purchase price for the Seller owned parcels. PURCHASER understands and agrees that this calculation shall be utilized notwithstanding PURCHASER's failure o acquire all parcels # - 3. DEPOSITS. Deposit in the amountof AND 00/100($25,000.00) shall be R'.i.♦': with Lewis, Longman & Walker, P.A. (hereinafter "Escrow Agene) within five (5) business days following execution hereof by the Parties. The Initial Deposit be fully refundable. PURCHASER, if prior • the expirationof not intend to complete the purchase of the Property. Said Deposit shall be credited to Purchaser at Closing assuming Section 2 Purchase Price and Payment Is met. 1111111m, MEN =lV1Tl1-TZlM satisfy any conditions precedent to closing; (ii) failure by PURCHASER to obtain a tax credit allocation . in Paragraphrelow); (111) upon default by SELLER hereunder; failure of PURCHASER to obtain the items described in subparagraphs 5(a) and (c) below. All interest accruing on the Deposit shall be credited to the Party entitled to retain the Deposit in the event ofthe cancellationor terminationhereof.At closing, thePurchase Price be payable in cash, less the Deposit, and subject to prorations and adjustments set forth herein. Said "Deposit" becredited oPurchaser atClosing# d Payment is met. 5. CLOSING. The PURCHASER'S obligation to close on the purchase of the Property is contingent on following: obtaininga) PURCHASER plan approvalfrom City of Boynton commercialFlorida (the "CW) to build up to 75 residential units for occupancy by low income households along with 1 ^ on on floor on Property. ##e Prior!the expirationisthe Nine Percent +% Credit Allocation Period(as hereinafterdefined), PURCHASER f R<low-incomehousing tax creditsfrom Florida Housing Corporation("Florida and c) Seller delivering marketable title to the Property subject only to tho&!- title exceptions acceptable to the PURCHASER, all as more specifically set forth herein. d) Closing is contingent upon Purchaser's successful closing on the Third Party parcels. ! also contingent uponcopies of executed Third parcelParty contracts business days of # Party R 7. ALLOCATION PURCHASER 1 obtain Allocation. The Allocation shall be evidenced by an invitation to credit underwriting issued by Mks lii�m .{.7M-1FJ.a 1 to issue an updated Title Commitmentrr.te) covering the Property, rl, r r r * e a Ir• - 1 TIM! - render title unmarketable,to object to such new or conditions in writingprior to Closing.All r objections of the Parties with respect to objections arising frompd be the same as objections to items appearing Commitment,the Title r to the provisions of IC -3 Survey Review. PURCHASER, at PURCHASEWS expense, may obtain a current boundary ofthe Property,indicating1 comprising -Property ...!the nearest00ofan acre. If the Surveydiscloses encroachments on the Property or that improvements located thereon encroach on setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement, or applicable governmental regulations, the same shall constitute a title defect and shall be governed r 1theprovisions NSectionconcerningobjections. • • - • / • • • • r • • - to • -11.2 Eftnagdb�,Proc�eedi At Closing, there shall be no litigation or Property or the SELLER, pending or threatened, which has not been disclosed, prior to closing, and accepted by PURCHASER. 11.3 g2MRfiancM with -Laws and Regulations. The Property shall be in compliancell • ifederal,l localordinances, regulations, codes, requirements, licenses, permits and authorizations as of the date of Closing. 11.4 Construction Permit Approval., The SELLER will cooperate with the �1• a •_ • a -• r •i • • 1 �i • � � • r r ' r . • r r r;- t. -i � - 11.5 Community r ; r r fir•Contribution. Boynton Beach Community Redevelopment Agency (CRA) agreed to commit $1 million toward the acquisition development 1' use seniordevelopment ong Martin Luther +e Page of 17 CLOSING12. DOCUMENTS. :} or #+ be prepared, Closing Documents set forth in -his Section,1, for documents prepared by Company. # d deliver, or o be executed and!*{ ,. PURCHASER following documents R 12.1 Deed and Authorizing Resolutions. SELLER shall fumish a Warranty Deed "'Deed") to PURCHASER Closingthe Property free and clear of all liens, encumbrances and other conditions of title other than the Permitted Exceptions, together with such resolutions or other applicable authorizing documents evidencing approval of the transaction by the SELLER's governing body as the !the title Companyrequire. 112 �jqtLer�s Affidavits. SELLER shall furnish to PURCHASER an owner's affidavit attesting that, to the best of its knowledge, no individual or entity has any claim against the Property under the applicable construction lien law, that the SELLER will not record or enter into documents affecting the Property after the last effective date on the Title Commitment, ithat there are no parties possession ofthe Propertyother SELLER shall alsofurnish toPURCHASERnon-foreigniavit with respect totheProperty. the event SELLER is unable to deliver its affidavits referenced ah an uncured Title Objection. closingforth all credits, ! R prorationsbetween } SELLER , all costsandexpenses to be paid at Closing, and the net proceeds due SELLER, which SELLER shall also execute and deliver Closing. e Documentation i! ! the Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions. 12.5 Additional Documents.documents transactionTitle Company may reasonably request that SELLER execute and deliver, and any other documents required by this Agreement or reasonably necessary in order to close this #!effectuateof ®SCI , I Mm, I m 13.1 Prorations. Taxes for the Piroperty shall be prorated through the day before Closing. Cash at Closing shall be increased or decreased as may be required by prorations to be made through the day prior to Closing. Taxes shall be prorated based upon the current year's tax with due allowance made for maximum allowable discount. If Closing occurs at a ! not '■ andavailable, P89e 7 of 17 taxes will be prorated based upon such assessment and prior year's millage. If current year's assessment is not available, then taxes will be prorated on prior year's tax. A tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax bill which discloses difference• Rthe taxes estimated Closing L-xceedsf_ Costs.13.2 Closinit pay R documentary recording deedandany costassociatedwith curing title.Purchaser•_all other credits,closing expenses. Each party shall be responsible fortheir respective attorneysfees, 13.3 Closing Procedure. PURCHASER shall fund the Purchase Price subject t—T the offsetsR prorationsforth. SELLER i PURCHASER execute R deliver.RtheOosing Agent theClosingDocuments. ClosingAgent Closing: (i) disburse proceedsR deliver - Closing Documents ffmarked-up" Title Commitment to PURCHASER, and promptly thereafter, record the Deed and other recordable Closing Documents in the appropriate public records. 13.4 Existl ig Mortimees and Other Uens. At Closing, SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens' and judgments applicable toandencumberingProperty. 14. REPRESENTATIOM, COVENANTS AND WARRANTIES. SELLER hereby represents, covenants and warrants to PURCHASER, as of the Effective Date and as of the Closing Date, a. - R: • 14.1 Ag1hpIfty. The execution and delivery of this Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLEWS capacity and all requisite action has been taken to make this Agreement valid and binding on ! ♦with person on • -lf of SELLER hasbeen duly authorized Riacton behalfR and to bind • this Agreement represents a valid and binding obligation of SELLER. 14.2 Title. SELLER is and will be on the Closing Date, the owner of valid, good, marketable and insurable fee simple title to the Property, free and clear of all liens, encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances of record which will be discharged at Closing). 14.3 Litkation, There are no actions, suits, proceedings or investigations pending or •against Selleror • M- portionof the Property, including but not limited to condemnation actions. 14.4 Earties In Possession There are no parties other than SELLER ir possession or with a right to possession of any portion of the Land. 14.4 Acts Affectl From and after the Effective Date, SELLER will !rf.rming an grading x i*I ! or 15.DEFAULT. transaction15.1 PURCHASEWS Default. In the event that this . close F ! f. • t' 1 '(R'iMe elpressifiii ! # ' t !ne xerminatuff removal0 this Agreement; provided, however, that PURCHASER shall also be responsible for the ofany liens assertedagainst theProperty 1 persons !through! PURCHASER. Default.15.2 SELLEWS .fully andtimely to perfiorm anyfti obligations4covenants#' or if SELLER is inbreach of any representations herein, PURCHASER may, at its option (i) declare SELLER in default under this Agreement in which event PURCHASER ma 4 terminate this A Ww"i "1111 W�' jtlk�' q# �21 - am �.� 11191614 Its] it Ir. 111MANW, 15.3 Notice of Default,Prior ! declaring default remediesdescribed herein, the non-defaultingof default to the defaulting Party describing the event or condition of default in sufficient detail to enable a reasonable person !sdetermine the actionto cure the default. defaulting shall have fifteen (15) days fromdelivery of the noticeduring which to cure the default, 1ays fromdelivery of ! Bath Parties agree that if an extensionrequested, z-xtension shall notbeunreasonablyl..If thedefault! been # within the 2foresaid period, the non -defaulting Party may exercise the remedies described above. 15.4 Survival. The provisions of this Section 15 shall survive the termination if this Agreement. 16. NOTICES. # required in this Agreementbe in writing lishall b- considered delivered when received by certified mail, return receipt requested, or personal delivery to the followingaddresses: If to Seller- Boynton Beach Community Redevelopment Agency Executive Director, Simon 710 N. ederal Highway BoyntonFlorida 33435 With a copy to: Dodge, Esquire Longman Drive,515 North Flagler # # West Palm Beach, Florida 33401 If to Purchaser: HousingP Attention: Robby D. Block, 8794 Boynton #Suite s, Boynton Facsimile. (678) 218-1520 • a - ■ r If to Rock Cornpan ies Attention: Robert Hoskins Alpharetta, 30005 Telephone: # 552-8070 Facsimile., (770) 552-8748 1 i With a copy r.. ArnallGolden Attention: mark Gould Suite 0 171 Seventeenth St. NW Atlanta, GA 30363-1031 hereby17. BINDING OBILIGATION/ASSIGNMENT. The terms and conditions of this Agreement are madebindingon, 1 shall Inure to the benefiti the successors permitted of •:,. SELLER may not without'1consentof PURCHASER, which shall notbe unreasonably withheld. AgreementThis be freely assigned by PURCHASER to a wholly owned affiliate assignee of • r � 1 - r ! r - r contemplated hereinto this Agreement. Any SELLER, which shall not be r s.r, . RISK OF LOSS. In the event the conditionof the Property, any part thereof, is materially altered by an act of God or other natural force beyond the control of SELLER, PURCHASER may elect, as its sole option, to terminate this Agreement and receive a refund of the Deposit and the parties shall have no further obligations under this agreement, or PURCHASER may accept the Property without any reduction in the value of the Property. Inthe ►k • #Minate MIS Agreem Ix!Ice• eF ion 1.1 PURCHASERterminate within fifteen (15) days after receipt by PURCHASER of the notice from SELLER. SELLER hereby agrees to furnish with written notice of a proposed condemnation m6thin two (2) business days after SELLERs receipt of such notification. Should PURCHASER terminate this Agreement, the Deposit shall immediately be returned to PURCHASER and thereafter the Parties shall be released from their respective obligations and liabilities hereunderShould PURCHASER elect not to terminate, the parties hereto shall proceed to such taking to PURCHASER. rr, 19. BROKER FEES. The Parties herebyconfirmofthem hasdealt brokerany ! - Rn with the transaction contemplated by Agreement. shall indemnify, defend and hold harmless the other Partyoand all claims, character arising i of or or ► # alleged:1 have been a by Party or on Its behalf with any broker or # exceedconnection with this Agreement. However, SELLER'S indemnification obligations shall not the otherwise waive its sovereign immunity rights. The provisions of this Section shall survive Closing or 1. ENVIRONMENTAL CONDITIONS.Tothe• . of SELLER'S knowledge, Property applicable zoning and environmental laws and regulations. development. a comments or approval of the design to PURCHASER at its next regularly scheduled Board meeting w, submits PURCHASER incorporate following !! design Improvements# the Project: installeda) If requested or required by the SELLER, the Project may be designed to be a gated community to enhance the value of the Property. A decorative fence may be around the buildings comprising' !t create an enclosed space. requested ! 1 by gate may be installed at the entry and exit of tProject requiringproof of r -for entry. 4 The Project• r around the entirety of Projectthe public #r Project approved in dein by d City, placed outside perimeter of • according to the City code. acceptabled). The Project shall have trees In species and caliper approved by the City and SELLER installed outside the perimeter of the Project within the City right-of-way at intervals a the City and 21.3 Limitation on Use of Property. SELLER acknowledges that the Property will be # #i to e • 22. DEVELOPMENT TIMELINE. The following events must be documented in writing and provided to the SELLER upon completion of each action (collectively the "Project a) Submission of application to the City for site plan approval by June 30, FA! C) Approval of financing for the Project including the construction loan and twenty four'(24) months following the Effective Date. PURCHASER shall provide SELLER proof iffinancingfor the Project within this timeframe. 1. Submissionofconstruction documents to City for building permit xf LIHTCs. Proof of permit application fees paid will be provided to the SELLER upon 5ubmisslon to the City. Upon City issuance of the building permit a copy will be provided to 44462351 v1 DOM7WI k . a e) Groundbreaking ceremony and commencement of construction shall occur within two (2) months following the issuance of a building permit. SELLER Will be in attendance • and participate in its planning. f) Temporary or permanent certificate of occupancy to be provided within eighteen (18) months following building 22.1 Default with Renard to Project Elements, If one or more of the required Project strictly met, i PURCHASER has notprovided explaining the a •�: • ♦ ' is • #� � � • i' - / t from meeting the timellne, and SELLER has not agreed in writing to the same and which approval shall not be reasonably withheld, then (a) if such events are contemplated to occur following Closing • fall to occur as required, PURCHASER !R shall be required •1 releasedreconvey the Property to the SELLER, this Agreement shall be terminated, and SELLER shall be from aall obligations a and (b) if such events are contemplated to occur prior to Closing but fall to occur as required, then It shall be a default hereunder and treated as provided in Section 15, above. The parties understand and agree that in such instance SELLER shall be a to the Deposit in MI and final satisfaction of PURCHASER's obligations hereunder. SELLER agrees to work reasonably with PURCHASER in of 23. MISCELLANEOUS. 23.1 General. This Agreement, • any amendmenthereto, may be executed # containedshall, together, constitute one and the same instrument. The section and paragraph headings herein are forpurposes of identificationand shall not be considered in construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire Section, unless otherwise specifled. No modification or amendment of this Agreement shall be of any force or effect unless in writing executed by Parties. This Agreement sets forth 1 f •ai' ! # and supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the Parties. This Agreement shall be Interpreted in accordance with the laws of the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising out of this Agreement shall be In the Fifteenth Judicial Circuit in and for Palm Beach County,Florida, or, shouldofactionbe ! #rfederald# only, in Unitedthe States District Courtfor ♦ District Courtof • • , 23.2 Computation of 71me. Any reference herein to time periods which are not R in business days and . days,l exclude Saturdays, Sundays and legal holidays in the computation thereof. Any time period provided for in this 7-TROM2 . 11101 ell# # # next full business day.Time isofthe essence in theperformance!obligations#' Agreement. Time periods # rmmencing with the Effective Date shall not includeEffective calculationDate in the i 23.3 W-ply-er. Neither the failure of a partyofinsist uponperfbrmance of of any item by party with knowledge#:: breach of this Agreementby other party performance of their respective obligations hereunder, shall be deemed a waiver of any rights such terms, provisions, covenants,or conditions.paragraph termination of Agreement d the Closing. 23.4 Construction nf - The Parties counsel, have participated freely in the negotiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the Parties. As din this Agreement,or ihereto, feminine, the singular shall Includetheplural,#theplurali T the singular, as the context may require. Provisions of this Agreement that expressly provide that they survive the Ciming shall not merge into the Deed. 23.5 Severability.If anyprovision of this Agreement or # }u thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remalnder of this Agreement nor the application of the provision to other persons, entities or permitted by provisions of rn shall apply to any amendment 23.6 Handwflften_Erovislon�. Handwritten provisions inserted l 23.7 Waiver of Juryrrial. As an inducement to PURCHASER to enter into this Agreement, PURCHASERand SELLER herebywaive trial by jury In any actionor E�■ # a r r r # ■ # out of or 23.8 Attorneys Fees r' Costs. Should it be necessary to bring an actionto enforceof provisions of Agreement,# -attorneys'including those#p- A'r to the prevailing party. TIM a �! • i r •� a ` I# full right ! lawful authorityto execute this Agreementand to bind and obligate party for whom or on whose behalf he or she is signing with respect to all provisions contained in this 23.10 No Recording. This Agreement shall not be recorded In the Public Records of Palm Beach 4 Florida. 23.11 Survival. The covenants, warranties, representations, indemnities and undertakings ofsetforthClosing, delivery 1'.: recordingoftheDeedand possession ofthe Property. 23-12 SELLER AttorneW Fees and,,SELLERacknowledges y; agrees that SELLER shall be responsible for Its own attorneys' fees and all costs, if any, incurred by SELLER in connection with the transaction ■ Records.23.13 Public public R,ject to Chapter9 Florida Statutes. The PURCHASER shall comply with Florida's Public Records Law. Specifically, the PURCHASER shall, a. Keep 1maintain publicRR ordinarily and necessarily would be required by the SELLER In connection R Provide the public iRsuchpublic ■ don exceedterms and conditions that the SELLER would provide the records and at a cost that does no! provided In chapter`!Fla. Stat,or asotherwise provided 1 C- Ensure that public s that are exempt or confidential an!exemptpublic1 Arequirementsnot disclosed • _ .: authorized Mlaw, and d. Meet all requirements for retaining and providing public records ..1transfer tothe SELLER, at no cost, all public 1 Ms in possession of PURCHASER 1iii ► public .� «. ! termination 1 destroyduplicateor i R. 1/ 1 1 1 stepsSELLER shall, upon request, provide guidance to PURCHASER as to the public records keeping and reporting duties that are Imposed upon PURCHASER as provided above and shall take all ! 1required 1assist PURCHASER in notviolatingRV noticeand Breach of this Agreement. If PURCHASER fails to cure the default within seven (7) days' Page 15 of 17 IN WITNESSHEREOF, the Parties have executed this Agreement as of the Effective -- MRITAGE AT r PARTNERS, FST _0 =,-I ILI Title: Authorized Agent for Partnership Date: re { WITNESS: rinte d N a PrInted Name: Steven B. Grant Title: __ CM Chi mool 1;L110 J917 LewVis, Longman & Walker, P.A. Date: zV1 JA 111L I Printed " V&_ U" I * 118 E. Martin Luther King Jr. Blvd. - 08-43-45-21-10-005-0050 P: Country Club Ests * E. Martin Luther King Jr. Blvd. r: r rr r0rBlock Club Ests E. Martin Luther King Jr. Blvd. - 08-43-45-21-113-005-0100 - Lot 10,11,12 & 13, Block 5 of Palm Beach Country Club Ests • 206 E. Martin Luther King Jr. Blvd. - 0 3-45-21 2 - South IM ft. of the West 5 ft. of Lot 20, 21 & 22, Robert Wells Subdivislon • 117 NE 9th Ave. - 0843-45-21-10-004-0050 - Lot S, Blk 4, PB Country Club Ests a 123 NE 4th Ave. - Q -45-21-1 60 - Lot 6, Blk 4, PB Country Club Ests 129 NE 9th°Ave. - 0&43 -45 -21 -ID -ON -0080 - Lot 8, Blk 4, PB County Club Ests • NE 9th Ave. - 3-45-21-10 - Lot 9, Blk 4, PB County Club Ests 141 NE 90 Ave. - 08-43.45-21-1 100 - Lot 10, A 4, PB County Club Ests • 151 NE 9th Ave. - 08-43-45-21-10-004-0130 - Lot 13, Block 4, Palm Beach Country Club Ests THIRD PAffrY PARCELS. Martin ther King Blvd.— t, Block 5, PB Country. 130 E Martin Luther KIng.Jr Blvd.- 2- - c, PB Country Club Ests - -1 - Lot 4, BlocknClub Ests . - - - Lot 7, Block -4, . 2- 11, Blocku Ave.- .. - - - Lot, Page 17 of 17 w • j 1 , ejmm I I Consent Agenda I X I Old Business I I New Business I I Legal I I Information SUBJECT: Consideration of Community Benefits Agreement between the CRA and Heritage at City View Housing Partners, LP (NuRock Development Partners, Inc.) for the 2.97 Acre Site known as MLK,Jr. South Project located in the Heart of Boynton SUMMARY: At the August 9, 2016 CRA Board meeting the CRA Board selected NuRock Development Partners doing business as the single asset entity, Heritage at City View Housing Partners, LP to redevelop the 2.97 acre site partially owned by the CRA known as the MLK, Jr. South Project. Heritage at City View Housing Partners, LP is proposing to construct a three story, 75 unit senior rental housing development and they will be applying to the State of Florida for 9% Low-income Tax Credits for funding. The project is dependent upon receiving funding from Florida Housing Finance Corporation in mid-December. The CRA Board has requested that any development or sale of CRA property include a Community Benefits Agreement. In general, a Community Benefits Agreement is a contract between community groups and a real estate developer that requires the developer to provide specific amenities and/or mitigations to the local community or neighborhood. The attached Community Benefits Agreement between the CRA and Heritage at City View Housing Partners, LP make a Good Faith Effort to fulfill the following conditions: • Work in partnership with the Boynton Beach Coalition of Clergy, acting as the designated Community Liaison • Hold a job fair in partnership with the Coalition and local contractors prior to the start of construction of the project to encourage Boynton Beach residents to work on the project • The developer shall give preference to Boynton Beach contractors for the construction work • 20% of the permanent jobs created by the project shall be required to go to local residents • The developer or the developer's general contractor shall pay Boynton Beach residents working on the project the current Palm Beach County hourly living wage of $11.64 FISCAL I PACT: If the project is funded and moves forward to the construction phase, Heritage at City View Housing Partners, in partnership with the Coalition of Clergy will be creating job opportunities for residents of Boynton Beach thereby adding money to the local economy. RECOMMENDATION:CRAAB LM LIJ a Ili ;Fx1W IJ I k to MxilradflFlm =, 0 0 1 1111111 11 , i I Pill iiiiiiiiiii�illillilli 1111pliqp''111 I k,11:014.1 I 1! I 111�1,IFITMT I � 1 � � � I i � I 1 1 �,,, ym; WHEREAS, &a CRA intends to convey CRA property to , Heritage at city vi, ,w Housing PgW LPQA;3AjgW4zc tha d ij y 1 116t if• AH-EME-&S QsDg� NuRock- Q@ he-.1we -IMMOC4 -M2tifiekjhAmi11 beng-fit fmm�f & prOR2qy R OPIRi IN -.,P wig, Mi IV% O1�g,11il11i "FIR-RUPT V11:10,14MILIM7MMil =—,7� �7-0 MI- M Nil W F - Redtals. The redtals above we hereby ft=rpma:W as if Uly set fwffi hardn. 2. Deffidtions. As used in this Agreernen4 the following Capitalized terms sba have the following meanings (all 1efinitions 1clude both the Ungular and plural form): b) "Applicant" means a City resident interested in working for pc�,cj(,�Icj, or S Subcolibuctor on the Projec4 if&,hWiag@pd city residents interested - in working in Permanent POsItIOW and/Or on the Pf0PertY management team after thi completion of cmstruction. TIUS tefm shall refer to such City residents before and after they are hired for jobs related to the Project. 0) 'Vity" means the City of Boynton Beach. #'. Liaison" means a formal or informal organizafion or enti appointed by the CRA Board that assists in oonacuting City residents with j opportunities. e) "CRA!'means the Boynton Beach Community Redevelopment Agemy. Area7means the land within P of the CRAjurisdiction. �Lffiffeef-- ,h), IIA actor"means NuRock Construction Services, LLC, "Developee' means 1% URC�7 q ck Construc�ion T _pjj r;JoW,,r,,q , Ji- �k- In, rl, N u R o wes, a- �L -st d .. i U . I J . ... .................. L', in Jvi ajy�!Lid . . ......... . . .. ............ 0 .... ...... le" or will be substaptial nvolved with th,,� . ........... ect and haN�e vet to be dg�J�:pi .................... -- . . .......... includes any Property Manager hired by DeMoper. - 4%)"De1endent Obligations" means those obligations; described in paragraphs 5(b), 5(c), 6(b), and 6(c) of this Agreement� which are understood to be obligations of the Devdoper c2+,4,tt,,aw-- ffiat UV contingent on the pa*mAll ance of the Community Liaisori as described in this Agreemen4 along with any other .431 Obligations of C ntra,,c4of-D - evol(q)gfiiat cannot reasonably be performed but for the perfbrmance of thb Community Liaison. It)_—"Good Faith Effort" means the respective parties will exhaust all reasonable - means to comply with the associated dnwftves and/or provisions. m)k)—"IAvmg Wage" means a minimum wage to match defined by the Palm Beach County Code of Ordinances Chapter 2, Article IV, Division 3. At time of this Agreement, the Palm Beach County living wage is $11.64. EAL--"Local Subr-onftwtar4katreeWmeans any Subcontractor Las defiqRim thIr ftreement) that is wholly owned by individuals who reside in the city. If Subcontrwtor's businew is owned by a corporation, then the corporation must be Clergy work together with the Boynton Beach Faith Based CDC to better ensure the terms and conditions of the CBA are accomplished. Option 1) Approve the Community Benefits Agreement for the MLK Jr Blvd South Project as presented Option 2) Approve the Community Benefits Agreement for the MLK Jr Blvd South Project with revisions Option 3) Do not approve the Community Benefits Agreement for the MLK Jr Blvd South Project A/ �"-- Michael Simon, interim Executive Director is owned by a partnership or limited liabty company, then at least 20% of its partners or members must reside in the City. e�,Ux)--."Ownef ' shall mean Heritage at City View Housing Partners, Lp p)pJ--'Tarties" means the signatories to this Agreement The term Party" means any individual signatory to this Agreement q)RL—"Plan" means flie operative Community Redevelopment Plans or Plans of the CRA. 4qJ "Pro ject!'means the Heritage at City View Senior Housing Project that Developer shall cause to be constructed within the 2.97 acm site area located on E. Martin Luther King E Boynton Beach, Florida, as described in "Exhibit attached hereto and incorporated harem. "PrOject Property" means the Property the CRA intends to convey to Dave, for the Projed. I 8) "Purchase and Develo!ii t Agreement" means the Agreenumt between the Owner Devekvw-and the CFLA for the purchas e of the Project Property. other �vgi —fie -d -and -1 the gg _gf.thq PIjoeqt,.ff aq. rcmder 11m tqrm ab sut 3. Nofim. All notion required under this Agreement shall be in writingnd ashall be addressed to the appropriate Party at the Party's address set forth below. Notices shall be sent by certified mail, return receipt requmted, and shall be deemed delivered three days after deposit in the United StWs mail. Alternatively, notice may be hand delivered and shall be damned received on the date of delivery, as evidenced by the written report or receipt of the courier service. Any Party may change its address or the name and address of its attorneys by giving a twenty (20) day notice to the other part= of the Agreement. The addresses of the Parties for purposes of this Agreement are: Developer: Heritage at City View Housing partners, Lp Robert Hosidns, manager of the General Partner 800 N. Point Parkway, Suite 125 Alpharetta, GA 30005 SOMIN32-1 3 CRA: Executive Director 710 N. Federal Highway Boynton Beach, FL 3343 5 ,_ palated E " :1 trstqnd that ....:_ r .. d ted Obligations. The designate ..Communityr� , i 1 Project, andll 1 1 i7Community'#1 1 ensure 1athei►i/ M1 fl..... Recruit qualified `, :11 ' to fill tempormy1 permanent job 1 1 I A 1i" 911 1 ! " ,r ► Pre-screen i �Applicants 1 determine` ul R;'i ".. 1 1 # }! orientation 1Applicants,1 i 1reasonable, provide 4 191 `.' f 1 i�'i 1 !1 �'1: '1 1 i�F 1 f 1 -e .,' h 1 sJam'i! I i r:.1II Si i! I f 11, 9t!',.1 1 e..a1 > iii t Applicants are hired 1 1;�+ associated 1 1 *� ►theProject, and L)Act as aliaison between D:.' "i 1p and f. kl ►1 111u 1 R _ M 1 1 1 'iforthe t) ull it` i 11 the Devr1operandsuchcommunityorganizations, R 1 1 ii : 1 i ► 9 � 1s I p' 1 ' ♦ 1 MMM, M.F. i i a) Hire a minimum of l qualified Local Subconftwtorsthat will hire and f train qualified Applicants towork on the Projed, and require those♦ 1 iii ; r, provide proof that►ey have hired k mlicants. IT �77777r& ► it t 1 * - - i.,i 11 - ► � # # ' i ;.. i 11 1 i Inevaluating Applicants, Developer shall not disqualify an Applicant on 1 groundsthat ') Applicantpreviously incarcerated 1 n 11 ! "!il :111 1 : . - however, _ 1 1 fii may require any `', i ! an1subrnitto drug " '1 i g at I timeduring theProjectiii may refuseto hire or ►! fire any 11 i :nt w'9ifailsS drugw:.. Train Applicantsto work 1• tProject 1 manner1will 1 1 !. - Applicants!ruse such training in future work1the construction 1 1 s1 AppliKants in a-m-anner tha� will allow ihose Applicants to use suclun"ai-ning-in future woi-k in the construction HI d) Require all Subconftctors to submit payrolls of hired Applicants Developer every six months. 1 payrolls must includethe me and address 1 1 Applicants 1 s: were hired ° 1 work on the1g .nth the number 1 hours `;.5..11 Applicant ! ;r/ and the axnount each Applicant was paid. - ! 1 :1: uim this until the Certification of Completion ' ! for the Project e) Create a successful program 11 o/ 1 locating w ;II ! bring Applicants that1i saw model 1 e 1 ti developments n the City of Boynton Beach. Any 11. program g:Ili " 1 not be conmdered proprietary a, l a Developer share .I I ! 1 ;r / f In::i ',. details of any such program with the CRA upon request1 the II 'rF: it 19 i li I Program 1 ` _.Permanent I Y i i 4. �. Developer ' 1 R' agrees J 1 minimum 1 '� " !_ the petrmarietit job positions r:s1.n a.: from the Project !t qualified App1 ,Fv' 1 - Developer agrees ta: when #i 1 1 " forjobs Provideassociated with the Project, the Developer will: 4 job descriptions and property management positions, 11. 1 1 positions N11 � 1! PropertyManager, 11 /' designated F/representative%1 /..m Community ;! 1.:. Community Liaison1requestinglistsof 1 Applicants i match _ 1 specifications, I Track and 4 11 1 1 1 on a semi-annualbads,progress 1 Applicants hired, and provide 1// and "king to ') :li. Applicants I 1 and Provide '. ll employms1/ the property managementteam, including thosehired as a result / this Agreemen4with the samebenefits. ! f 11 will 1/ provide employeeshired outside othis Agreenicrit with any benefitsnot availableto Applicants hired as a result of this Agreemeni�:gn the.Lame or equi alent2ositions S M715MI 5 zLthevX p ertyMLna-egr1enttc,.,,trn- 1kL_ k-l-LIving Wage. Developer will pay (and will require all Subcontractors to pay) a Living Wage to all Applicants hired to work during the construction of the Project and to Applicants hired to a permanent position resulting fiom the Project and/or Developer's property managernent tem. Developer shall not be responsible for ensuring a ng Wage is paid to City residents hired by third party entities for jobs that are only incidentally the result of the Project a1r':! hich Developer has no control. b) Beginning at the date of issuance of the Notice to Proceed through aft ffie issuance of the Certificates of Occupancy,,7 Developer will provide a report d A the CRA every six months that contains the infiwmauon and records of 1=0 iL Qontrall- d 3 described in subsection (a) of an T p=graph. 8 hat o 11�fW ,-2-,PJroJect 's for Profit The Pa'Ues agree and 8cimOwledge t the ject is 'Tor pro 'and that this Agreement shall not be constrtied so as to unreasonably hinder the economic feasibility of the Project. Therefom the Pm -ties agree: a) Ibis Agreement is and shall be subordinate to institutional Amoing. b) This Agreement is and shall be subordinate to the requirements of the Tax ]Rxempt Bond program c) This Agreement is and shall be submtin:it e to any requirement of the Low Income Housing Tax Credit C'LHffCl) program R. This Agreement is and d" be subordinate to any requirement imposed by the Department of Housing and Urban Development CHUD') on this project. q) If there is a foreclosure of the Project Property, the foreclosing lender or the successor in ownership shall not be bound by tins Agrement, but may elect to bind enter into this Agreement under the identical term and conditions hi;nc, m- f) If an institutional lender for the Project deem any portion of this Agreement objectionable, Developer shall make a Good Faith Effort to convince the institutional lender to accept the tm= of this Agreement Mhe institutional lender will not ac=Pt a Portion Of the Agreement, that portion of this Agreement shall be ineffective and deemed deleted. g) If a purchaser of the LIHTCs fbr the Project deem any portion of this Agreement 9 007tM2.1 6 will make a Good Faith Effort to require 6eveloper's heirs, successors, and assigns to be bound by the term of this Agreement Effective Date and Termination. This Agreement shall become effective on the date of the last signature to this Agreement, and shall autoIA: eally termina1'. years after issuance of the cmtificate of completion for the project. wL:.. —Quarterly Meetings. Commencing at the effective date of this Agreement, -d representative of the Developer and CRA shall meet quarterly, unless both Parties agree in writing that less frequent meetings are appropriate. 44-15. Ameadnwnts. This Agrement may not be altered, amended or modified, except by written instrument signed by the each of the parties. tY;:" other Party's perfi)rmsace under this Agreement. Each Party agrees to investigate any issues described in the written notice filed by the other Patty relating to the implementation and adherence to this Agreement. Tbr Parties shall cooperate fully and promptly with any such investigation and shall make available all requested records and information reasonably deemed relevant to the investigation, Monitoring of compliance or implenientation with this Agreernent, or the Annual Report. c) Any agramnent reached at mediation shall be reduced to writing and become a binding and enforceable agreement between the Parties. d) The fidlure of a Party to abide by this process; to participate in the selwdon o mediator, mediation date or time., mediation location; or to use Good Faith E I to resolve the dispute at the mediation shall be considered a breach of Agreement. SOWIM-1 8 i� i . 1 �' M 23-.24CW Not K Party. Parties F this Agreement understand ' d accept s the City T not a Party to this and 14 action may be takento enforce Agreement or any tn themf Au" Rqmentafive forWe%-t4offj. Print Name - y" Authorized®Y8 for CRA Name:Print S W715932-1 10 Date' ,2ka 2.97 Acre Project on 0 PURCHASE .:A O4Bw Page 4. EFFECTWE PA—TF The date of J -11- i....,*"'Eftetive DaW) shall 1' the date when the last one PURCHASER .• l+l ` 1 this Agreement 5. CLOS . The PURCTIASETVS obligation to close on the purchase of the Propmty is contingenton the fbIlowing: it) PURCHASER obtaining site plan l fiam the City of Boynton Beach, Florida t 1 build d t �_ residential :� Property foroccupancy income o 1 ';. V4 kit del' i 1 ' r i: : ! 1 '. #i 1 1 ' • 1 1 � �1 1 1 ; 1 ' 1 1 ,= 1 • , �, 1 # : ti 1 '. 1 : ;1 1 � r , 1 � �, 1 1 1 i l ll i i- e: 1 i:! �u .��„' tl:: � ■ •'� wl'r 1F �� �! +wl 4 E i f 1.1 il. �. 1, a' r � 1�,. Int � 1.,•: � �w : � 1 1�; 1# � 11�� �f �+�,1 1^: � ., 1 1 1 r • . • 1 ` ` j � � it • r r Y �., f It= i11 a► i 1� ` 1' � 1'3..1' � k' 1 ! ► � • a I:M: S':/ # 1 ► r - 1 is 1 11 M 123 Addit1wal DO Such r documents as PURCHAS13R or the Title Company s•i::requesta: ER. exacute and deliver,and any other documents e# Y#' bg this 11OffectuatO ther Agreement. tons will be prorated i,ser uponsuch assesment and priomfnqe,,Owrent assessment is not Milable, then taxes will be proraW on prior yeaes tax, A tax proration On OR C46MOW shell, at reqwat of either party, be readjusted upon receipt Itax,hill whi discloses an actual diffwwoe in the amount of the esestimatedat Closing # i 000. 13.2 #; .1'1'' 'r, f � for rr Rs on i it si recording 610f =rl andany costassociated expenses.party shallberesponsiblefbr their respective ilh rney1j' fees. 13.3 Milu-P-rocedure. PURCHASER6WI Ili the Purchase1 to the OrOft, offsets and prorations set ft* hereffi. SELLER and PURCHASER (as applicable) shall execute, and deliver tot � # r a Closing Dommerits. The Closing Agent shall, at '+ #": disburse rproceeds# deliver 'znwke r '-ritle, Commifinentto PURCHASER, e. . • eed and other recordable Closing Documents in the appropriate public records. ,. ► IWWMR I qWM AW Oth Lions. At Closing, SELLER shall obtaiii, or # be obtained, Satisfaction or releaw 1; record # mortgages, r, and judgments applicable # and encumbering the Property. 14, "PM&gATWNLMMMLAM AND WARRANW-S. SELLER hereby represents,#warrants toPURCHASMasof Closing as of the follows: it � . f is ' # ,. . • ` 14.2 Title,SELLER :r will be 11i the. osing Date, theowner Af valia clear F 1 ena=brances and restrictions of any Idud, exceptr ]Exceptions (and enctunbranoll, ofrecord which will be discharged at Closing). 14.3 Utiggion. Them am no actions, suits, proceedings or investigatio pendingor threatened against r' Sellerportion 4 Prop i Property affecting including but not limited tocondemnation ; 4#i `: 14.4 Partig I Possmion,to partiesotherthanMr possession or 1 = right to posseission of any portion 4 the Ptrr' 4 Acts ' t ,1 z MM' r From and .. ., Effective Date, r .� will refrain from r performingany "r i1 r a excavation, or making any w lng t" changei >lf w i rr# i or r theProperty;' creating orincurring, or br. Iu exist. any ave, lien. Wel or .. m;�+ N • V. DEFAULT 8 1 f ! • , r � w t ri w :r � wr Ili' -, : i it r ..:. r r '.: w 7 : r r r 1 R ' � •' � ' . � PVVfor r termination of this Agreement; prol howem, that PURCHASER shall also be responsible the A i Of `r,"asserted I R by persons rel 1' !throughor against rd*B Pa i. Agreement In which event PURCHASER may terminate this Agreement, remye ba& Its Dq*sIt and neither pmtyshall haveany h- mr,'; r., (if) seek rr performance. 15.3 NotkoofDafluilt. Prior to declaring a default and exercising the rmnel r'i r♦ �,, �. ;w: Iwo w' 4 r t;F: r r! 4 1 M I., Tia I it 71 IT 1 4 t w imy exercise ther described above, 15.4 y provisions of 1is Section 15 shall 1'',termination of ! Agreement. delivery16. NOTICES. All notices required in Us Agreement must be in writing and shall be considered delivered whm received by certified mail, rotum receipt requested, or personal to "'following addresses: if F Boynton Reach CommunityRedevelopment Executive 1 Director, Vivian Brooks 71 ON. FederalHighway Boynton B each, Florida 33435 With a copy to: Kenneth DodA Esquire o ! IA 11 r North515 Flagler Drive, Suite 1500 West P"Beach, Florida 33401 If to Purchaser: ;ia BreeZeHousing ! m P Partnership 8794 Boynton Beach Blvd., B03mton Beach, Telephone:990; Fwaimile: (678) 0 m i'f to !., The NuRock Companies Attention:Robert r Point Alpharetta,'0 Telephone.- 1 ;0" Facalmaile:1 With a copy to: Arnall Golden Gregory Attention.:Gould d Suite !; 171 r ; cne St, NW Atlanta,30363-1031 Telephone: (404) Facsimile: , Rle s or on whose behalf lie or she is signing with respect to all provisions contained in this Agreement. 23.10 NoRecording. '17his Agreement shall not be recorded in the Public Records of Palm Beach County, Florida. 23.11 Surviyql, 'rho covenants, warranties, representations, indan emnities d undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and recording of the Deed and PURCHASER'S possession of the Property. 23.12 SELLER Attornevs' FeesAqd �Cs(s SELLER acknowledges and agrees that SELLER shall be responsible for its own attorneys, fees and 4f if any, Incurred by SELLER In connection with the transaction contemplated by this Agreement. 23.13 Public-&ecords. SELL13kis public agency subject to Chapter 119, Florida Statutes, The PURCHASER shall comply with Florida's Public Records Law. Specifically, the PURCHASER shall: a. Keep and maintain public records that ordinarily and necessarily would be required by the SELLER in connection with this Agreement; b. Provide the public with access to such public records on the same terms and conditions that the SELLER would provide the records and at a cost that does not exceed that provided i n chapter 1] 9, Fla. Stat., or as otherwise provided by law; C. Ensure that public records that are exempt or that are confidential and exempt from public record requirements are not disclosed except as authorized by law; and d. Meet all requirements for retaining and providing public records and transfer to the SELLER, at no cost, all public records in possession of the PURCHASER upon terniination of the contract and destroy any duplicate public records that are exempt or confidential and exempt. All records stored electronically must be provided to the SELLER in a fornial that is compatible with the Information technology systems of the SELLER. SELLER shall, upon request, provide guidance to PURCHASER as to the public records keeping and reporting duties that are Imposed !.',1 PURCHASER as provided above and shall take all steps reasonably required to assist PURCHASER in not violating them. The failure of PURCHAS13R to comply with the provisions set forth in this Agreement shall constitute a Default and Breach of this Agreement. If PURCHASER fails to cure the default within seven (7) days' notice From the SELLER the SELLER may terminate the Agreement. 23.14 QommunitX BenoriU AgreMpni. PURCHASER understands and agrees that SE LLER's obligation to close is contingent an PURCHASER's execution of a Community Benefit Agreement at closing, in such form as required 1y SELLER. I 1w, III r. T'rs- ,Mk! WTUMV034 IN WnWESS WHEREOF, 1 ! ! Effective date. OCEAN B.E HOUSING PARTNERS, ye print Name: stoven. B. Grant 1 1 . # # tt� 1. I IMM 77LAI-rMTImM; COMYOd to the City Of Boynton Bach by Official Records Book 852, ge 642 and LEss the right-of-way # Boulevard!' k # 4 #'; Book P�' # +- #. # #' I Book 1lic # til , of � F 192, 4 # (:. k G Plat � Florida, e Presentation of Site Plan and Request for Funding Incentive for the CRA owned property located at 222 N. Federal Highway. SUMMARY: On March 8, 2096 the CRA Board received a Letter of Intent from the adjacent property owner, Ocean One Boynton, LLC, to purchase the CRA owned property located at 222 N. Federal Highway for purposes of redevelopment (see Attachment I). At their March 8, 2016 meeting, the CRA Board approved the issuance of a Notice of Intent to Dispose of Property as required under Florida Statute. Although there have been ongoing negotiations between the CRA and Ocean One, LLC, the terms of a Purchase and Development Agreement have not been finalized for presentation to the CRA Board. The proposed project utilizing the CRA owned parcel is described as an 8 -story, 231 residential mixed use building with 8,575 square feet of leasable commercial space. The remaining portion of the development site will act as Phase 11 of the overall project with an estimated 118 residential apartments along with a 100 plus room hotel. On November 7, 2016, Ocean One Boynton, LLC, submitted a request to the CRA Board for financial incentives in order to make the proposed project viable which was later retracted to make necessary revisions before making a final presentation to the CRA Board. Since then, CRA staff and legal counsel have been actively working with the Ocean One development team to finalize the terms of the Purchase & Development Agreement, terms of a proposed tax increment revenue (TIR) funding request and agreement. As of the date of agenda preparation, a submission had not yet been received from the Ocean One Development team to be included in the Board's agenda back up documentation. FISCAL IMPACT: To be determined CPA PLAN, PROGRAM OR PROJECT: 2016 CRA Redevelopment Plan Update — Downtown District area and the Downtown Vision and Master Plan � 11 ► 1 1 -11: ill Ilia I Ill ma": or Me Cener of intent. Executive DirectDr ATTACHMENT I AN APPRAISAL OF PREPARED FOR DECEMBER 30, 2015 Chi STEPHEN D. SHAW, MAI PRICE, INC. 4803 South 230' G Suite 4 FOrtPWMFL 34947 07f 1 AAW Fax l&.33W iM .Ili. �ht� 1146'hAvenue Suite 3 Indlalanfir, FL 32 Phone (321)726-0970 Fax ( )72 Curth L Philips, I Cert Gen RZ2065 cip0cpmelmm Callaway `+aG Price, Real Estate Appraisers AR� Consultant www.r-allmiwayandpricL-.com Liceiinsed Real , r Theresa Utterback Boyntonr 710 NorthFederalHighway Boynton Beach, investigationWe have made an e .48-acrz- vacant commercialproperty • - ■at 222 NorthFeder-alHighway in the City of BoyntonCounty,• d. Subject befurtherdescribed both narrativelyri legallywithin thefollowing AppraisalReport.purpose of this Investigation and analysis was to provide our opinion of the Market Value of the _ Simple ofthe Subject Boyntonrty as of December 30, 2015. This report has been prepared for our client and intended user, Beach A 1, - Intended r-* to assist - client I internal decision making. The scope of work performed Is specific to the needs of the intended user and the Intended use. No other use is intended, and the scope of work may not be appropriate fbr other Based upon the scope of the assignment, our investigation and analysis of the information report, our general knowledge of real estate valuation pirocedures and market conditions, our opinion • 1 Theresa Utterback Development Services Specialist Boynton each CRA January 5, 2016 Page Two A description of the property appraised, together with an expanatlon of the valuati proceNr the attached report. For your convenlenc an Executive Summary follows this letter. Your attention is directed to the Limit! A, Conditions and underlying assumptions upon which the value conclusion Is contingent. I CALLAWAY & PRICE, INC. Stephen D. Shaw, MAI Cart Gen RZ1192 Joe M. Merritt, Associate Appraiser Cert Gen PZ672 SDS/IMM/15-74029 Attachments 111"NUAA , * Executive Summary : Vacant Commercial Land. LOCATION The Subject Property is located on the southeast corner of North Federal Highway and East Boynton Beach Boulevard in the City of Boynton Beach, Palm Beach County, Florida. The property address is 222 North Federal Highway, Boynton Beach, FL 33435. DATE OF VALUATION December 30, 2015. DATE OF REPORT January 5, 2016. PROPERTY DESCRIPTION., 20,999 square feet or.48 acres. IMPROVEMENTS The Subject Property Is currently vacant, cleared, and landscaped with grass. The north and west boundaries are landscaped with trees and shrubs. There are no building Improvements. ZONING CBD, Central Business District, by the City of Boynton Beach. LAND USE PLAN M1XC, Mixed Use Core, by the City of Boynton Beach. HIGHEST AND BEST USE : Future commercial development. IhAR&ET-VAtUE-0E-TttE-- FEE SIMPLE ESTATE OF THE SUB3ECT PROPERTY AS OF DECEMBER 30, 2015 $460,000 Conten _ ..,_., is CONDITIONSLIMITING DEFINITION OF . w . PROBLEM Purpose, Date w, r Interest Appraised i! d IntendedUseandUserof AppraisalL t, Legal Description Fee Simple Exposure Marketing M11FEKIT Ri Location Zoning Land -Use Site Size, Shapeand • 4s a Topography iiiHazard •i,.. AssessedValue and Property ! +, f 0 Conclusion Discussion ofVacant Land Sales Conclusion Land -Value 1 .t EngagementLetter S. The analyses, opinions, ■condusiondeveloped,andthis report prepared, in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) iThe InteragencyAppraisalM..EvaluationGuidelines, December2010. #' Stephen ► . - of this report. Oe"rUffecations, 12. This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan, 13. The reported analyses, opinions and conclusions were developed, and this report was prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. 14. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. IS. As of the date of this report, Stephen D. Shaw, MAI has completed the continuing education program for Designated Members of the Appraisal S,tephein D,, Shaw, MAi Cert Gen M ■ Cert Gen RZ672 N Unless otherwise stated, the value appearing in this appraisal represents the opinion of the Marketor the Value Defined AS OF THE it SPECIFIED.TE - of real economic/ a r and consequently conditions. 2. The value estimated in this appraisal report Is gross, without consideration given 4any encumbrance, • or question of defined. I This appraisalreport i! only theproperty described andany values/ howeverrates utilized are not to be construed as applicable to any other property, - properties might be. It ' assumed _ - title N - premisesfoo . legal / description Is correct; that the improvements are entirely and correctly located on the property described d that there are no encroachments r /!r- but no investigation or survey has been made. 5. This appraisal expresses our opinion, and employment to make this appraisal was in no way contingent upon the reporting of predetermined value or conclusion. 6. No responsibility is assumed fbr matters legal In nature, nor is any opinion of title rendered. In the performance of our Investigation and analysis leading tothe conclusionsreachedherein, the statements/ others- -relied ! liabilityn. No -/ for the correctnessof 7. Neither all nor any part of the contents of this report (especially any conclusions, the Identity of the appraiser or the firm with which he is connected, / - to the Appraisal - rr any , f its designations) shall be disseminated to the public through advertising media, public +media,- ;ia, sales media or any other public of valuable.communication without our prior written consent and approval. 9. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures which would render it more or less The appraiser assumes no responsibility for such conditions or the engineering which might be required to discover these factors. 01 . r 1. * � ' � � r • r ' . � . �' • mei � � . - - . z4z f-0. The Americans with Disabilities Act ("ADA") became effective January r 1992. +w appraisers ha -not- de a specific compliance survey and analysis of this property to determine whether or not It Is in conformity with the various detailed requirements of D possible t a compliance M property, •gdetailed d of the requirements of the ADA, could reveal that the property is not in compliance with one y'.more.the requirementsofthe Act. If so, this fact could negative have a p. the value of the property. appraisers ha- no direct evidence relating to this issue, possible noncompliance the requirements t r. �' property with .- en considered. Our opinion of value was based on the assumption of rketing and managementregarding Property. ocompetent competent� marketing and management,containedr t apply. 12 j Subject Photos AERIAL VIEWS OF THE SUBJECT PROPERTY tet} h_ E ti. vSubJect Photos LOOKINGI`PROPERTY NORTHFROM R. 0 .. .... ... ... .......... .. . .. Subject Photos —nnnnnnnn SubjectPhot s LOOMG WEST AT THE SUBJECT PROPERlY FROM NE 6TH COURT This report has been prepared for our client and intended user, Boynton Beach CRA. The intended use is to assist the client fbr Internal decision making. The scope or work perrormed is specific to the needs of the intended user and the intended use. No other use Is Intended, and the scope of work may not be appropriate for other f ai property"As defined in the Agencies' appraisal regulations, the most probable price which a 1 ► bring in a competitiveand open market conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: a. Buyer ■seller typicallymotivated; M Both parties- informedor welladvised, consider their own best interests; c. A reasonable time is allowed for exposure in the open market; d. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and ` price represents► .- property d unaffect-wA by ►- or .► ! ►i or ! - ► granted by anyone associated with the sale." Source: The Interagency sraisal and Evaluation Guldelines, FederalRegister, Volume 75, No. 237, December 10, 2010, Pgs. 61-62. E The Ulctiolafy—Ot NAME: ta-ARRLa!fidL Sixth Edition 2015, by the Appraisal Institute, defines Fee Simple Estate on page 90 as follows: n Absolute ownership unencumbered by any other interest or estate,M ject only M the limitationsimposed by - govemmental powers of taxation, eminent domain, police ! • i Mof Real1, r al, Sixth Edition Institute, defines Hypothetical Conditions on page 113 as follows: 1. 'aA condition that is presumed to be true when it is known to be false." condition, directly' !' to specificassignment,r !1 what is known bythe appraiserMexiston effective date of the assignmentbut 'ir for purpose ,r analysis.' "Hypothetical r tns are contrary to known facts about physical,ia economic characteristics of the subject property; or about conditions to the property, M • or r or r ointegrity of data used in an analysis." There were no Hypothetical Conditions in the valuation of the Subject Property. I hM111M .y of RaaL Estate Appraisal, Sixth Edition2015, by ri rals Institute, defines Extraordinary Assumptions on page 83 as follows: "An assumption, directly related to a specific assignment, as of the effective date Rthe assignmentresults, found ♦ M- could alter the M • opinions or conclusions.• i ! • presume as factotherwise Subjectuncertain information about physical, legal or economic characteristics of the property; or about cN M M M property conditions or trends; or about the integrity of data used in an analysis." There were no Extraordinary AssumptionsM of the Subject Prop' A a.a... Definition .......w..............Appra&al .��.................. #hme R, - r tSixth dition 2015, by the Appraisal defines Exposureon ...e 83 as follows: propertyon the market." length2. "The estimated _ the property inter= being appraised would have been - ,. on prior r the hypothetical r of - on the effective date appraisal. •.retrospectiveopinion based r a of past eventsassuming a competitiveand open There Is a requirement under Standard Two to report exposure time according to the latest ' publication. R . property under different market conditions, We have reviewed the exposure time on the sales contained in the Sales Comparison Approachappraisal, other- .I current listings In definesthe market. Based on that data and the current market, It is our opinion that the Subject Property would have had an exposure time of approximately 12 months or The D=QnaU of Rgal Estate Appraisal Sixth Edition 2015, by the Appraisal - on ..r- 140 as follows: opinion of - amount of time it mightto sell a real or personal property r:^. market value level during the period immediatelydate of an appraisal. Marketing time differs from exposure presumed to precede the effective date of _.. "Advisory Opinion 7 of the Appraisal Standards Board of The Appraisal Foundation r Statement on pp..rr .i"ReasonableExposure Property r' r Property- Opinions" address determination of - . ,or exposure As In most 1 r - priced competitively and marketed professionally before others which are not.-- - .i marketing time on the sales used the Sales ComparisonApproach of this appraisal, Basedas well as other sales within our database and current listings in the market. on these indications, it is our opinion that the Subject should have a marketing time of up to 12 months. W, • Rai i li, # R (• • - � ! The scope of work decision is appropriate when it allows the appraiser to arrive at credible as- and is consistent clients R# the work• be performed R _tr peers intendedThe first step In the appraisal process involved defining the appraisal problem which Included the purpose and date of value, determining the interest being appraised, use anduserof appraisal, and identifying the realestate R. description).`kalso determined extraordinary ! hypothetical The next step involved Inspections of the Subject Property in December 2015 by Stephen D. Shaw, MAI and Joe M. Merritt. The inspections allowed us to understand the physical components of the Subject Property. In addition to the inspections of the Subject Property, we also began the data -collection process and, subsequently, R -factorsthat ofthe Subject Property, !•- Including -area analysis," R i! • R#ianalysis,and property data gathered it reviewedinformation# # unty Property Appraiser's Office, the City of Boynton Departments, our Client, and interviews with brokers and other market participants tounderstandand describe the Subject Property thirdThe stepin theprocess to determine Highest #Best Use R - Subject Property. Through the Highest and Best Use analysis, we determined the issues that have an effect on the final opinion of value. To determine the Highest and Best Use, we relied on Information obtained from the data -collection pmcess. The fourth step was the application of the appropriate approaches for the valuation. No approaches were spedftcally ornittied from this aggraisal eitlkgr hv tka rAwrt irr ar-g VA W1 IN NMI Jew A OWill f� ^ ka. � io, 4 • • M3= Neighborhood Data The Subject neighborhood Is considered to include the eastern portion of the City of Boynton Beach bounded on the north by the Boynton Canal (C-16), on the south by Woolbright Road (SW IP Avenue), the east by the Intracoastal Waterway and on the west by Interstate 95. The primary north/south traffic arteries through the neighbortlood include Fede Highway (U.S. Highway 1), Seacrest Boulevard and Interstate 95. Interstate 9 located approximately one mile west of the Subject Piroperty, is the princip north/south commuter route along the east coast of Florida. U.S. Highway commonly known as Federal Highway In sourthern Palm Beach County, also spans length of Florida's East Coast. Seacrest Boulevard, which extends through the cen of the neighbor -hood, is a 4-laned Intercity connector joining Boynton Beach w! Hypoluxo to the north and Delray Beach to the south. M Neighborhood Data 4d NeIghbothood Data Construction recently began on a new mixed use project called 500 Ocean located on the southwest comer of Federal Highway and Ocean Avenue. This project will include 341 luxury rental apartments, 13,300 square feet of retail, 6,600 square feet of office space and a 664 -space integrated parking garage. Completion is anticipated to be Fall of 2016. The City of Boynton Beach redevelopment agency's board agreed to fund $4.4 million over a 10 -year period after the project Is completed, using taxes created by R The City of Boynton Beach and the sumounding area enjoy good community services. Bethesda Memorial Hospital is located on Seacrest Boulevard. Other medical facilities and nursing homes are within a short distance. There are currently 18 churches representing all major denominations within the city limits. The Subject neighborhood has excellent access to public elementary, junior high, and high Schools In Boynton Beach ' as well as a variety of private and church supported schools In the area. All municipal services, includin.—olice and fire and trash collection, are available to most properties within the Subject neighborhood from either the City of Boynton Beach or Palm Beach County. Conclusion Overall the Subject Neighborhood shoulcl see extensive redevelopment in the futpre. Two large mixed-use projects were completed at the peak and/or after the collapse of the real estate market. As a result, there was a significant oversupply of available residential units and retail space. The real estate market has improved and the market activity for redevelopment properties In the neighborhood is increasing. We expect this trend to continue and that redevelopment Will resume as the real estate market improves and the supply of available residential units and retail space Arninishes. ku. � � Y �.0 p,n£ .�uw von -:.w oo-.min �wvro«wow�aw�aw�«m�ww-aa«aaxaar�ma...... ..moo-mw-..«.,waw,w�aw�aw�aw�aw�aw�aw��wxwemw .....mo- ...mo- ......�kaeax xwnuvma ....gymProperty Date The Subject Property is located on the southeast corner of North Federal Highway (U.S. Highway 1) and Boynton Beach Boulevard In the City of Boynton Beach, Palm Beach County, Florida. property ar l Boynton Beach, Op h RM A.. „y # t tit. evr it A.. bw 0" The Subject Property is designated MXC, Mixed Use Core, by the City of Boynton Beach, r' QC „y # t evr bw 0" The Subject Property is designated MXC, Mixed Use Core, by the City of Boynton Beach, r' QC n nu+ , •,W Will ! i '• i # i ' i # i A u 77 rug MO ..m.✓Y t ...'W".v.wr�--.e. ...a ...m.• _ '<a?:' •ks� ;.s :.' 'x .r•��maacu u 17'it 1 4g• mum -WE i a jh &m mom� We have not been provided a title search for the Subject Property. Based upon our review of the survey and public records, the Subject Property has no obvious adverseeasementsor deed restrictions. in 1985, the Florida■ - enacted the Local# - -Comprehensive Planning and Land DevelopmentRegional Act (C+p- Part 11, Florida titatutes), commonly referred toManagement LUZ '•tiG'm a •"'"'*k` s,.aix�a-!mr a n � L n � `iM i• { ..m.✓Y t ...'W".v.wr�--.e. ...a ...m.• _ '<a?:' •ks� ;.s :.' 'x .r•��maacu u 17'it 1 4g• mum -WE i a jh &m mom� We have not been provided a title search for the Subject Property. Based upon our review of the survey and public records, the Subject Property has no obvious adverseeasementsor deed restrictions. in 1985, the Florida■ - enacted the Local# - -Comprehensive Planning and Land DevelopmentRegional Act (C+p- Part 11, Florida titatutes), commonly referred toManagement LUZ L:331Z� Property Data In 2011 the state legislature rescinded this law, and now each county can address almost all of these factors as they wish. Sanitary sewer, solid waste, drainage, and potable water are the only public facilities and services subject to the concurrency requirement on mi statewift basis. If concurrency Is applied to other public facilities, the local government comprehensive plan must provide the principles, guidelines, standards, and strategies, including adopted levels of service, to guide its application. In order for a local government to rescind any optional concurrency provisions, a comprehensive plan amendment is required. An amendment rescinding optional concurrency issues Is not subject to state review. To the best of our knowledge, we are not aware of any concurrency Issues with the Subject Property. UtIlMea FPI_ and AT&T provide electrical and telephone services to the area. Public water and sewer service is provided by the City of Boynton Beach. The Subject site is level and at the approximate grade of the adjacent roads. Our on-site inspection revealed no obvious signs of drainage problems. Census Iract The Subject Property lies within Census Tract 0061.00. 2016 FFIEC Geocade Census Repwt Address. 222 N FEDERAL HW BOYNTON OFACH, FL, 33M M8k 48424 - WEST PALM BEACH-BOCA RATON-DELRAY BEACH. FL Sb@M- 12 - PLORIDA C*u*: 099 - PAUA BEACH COUWN Trn:k VA)dv, ON 100 W propally Data The Subject Property lies within Flood Zone "B", according to the Flood Insurancs- Rate Map (Panel Number 120196 0003 Q prepared for the National Flood Insurance Program of Department of i and Urban Development (HUD.). Flood Zone 'ABff includes "areas between limits of the 100 -year flood and 5011) -year flww or b■ -r 100 -year flooding with average depths less than one (1) foot or where the contributing drainage area is less than one square or protected r - - from - base flood" The 2015 assessed value for the Subject Property is as follows: 2015 Market Value 2015 Assessed 2015 TaxesFolio Number Land IMmyernents Total Value VW Since the Subject Property is under public ownership, there are no real estate 7W It should be noted that this office has not performed a title search, nor has a tit search been provided. According to the Palm Beach County Public Records, t Subject Property habeen i' - ownership of BoyntonBeach Redevelopment Agency for more than Rve years. To our knowledge, the Subje Property •listedfor sale or nw -contractofthe appraisalwt The Subject Property is currently vacant, cleared, and landscaped with grass. north and west boundaries are landscaped with trees and shrubs. There are no building• •.. M ■- ■ # - # r.r' 1' r # ■ � r � ^ r r- r r r■ Ir ■ . Highest and Best Use M - ■ ■ r - r it r - - ■ W _ r . ■ .. r a or # # r # r # y — ■ # :r r ■; e r ■i ■ # ■ - # # — ro r — r r ■ — — r ■', I ` ■ i' � ! r # ' • I ! .. # ■ it '_ �.. ': fr ,rr- ■ ! �# r M 'r' ■ nr rf �" *' r. ■ # Ni Highest anti Best Uss development potential and flexibility. Due to these factors, it is our opinion that the development potential of the Subject Property would be greatly increased it done so in conjunction with the adjacent property. Flnanclallv Fea,%Wle During the residential housing boom, numerous properties were purchased along the Federal Highway corridor for mixed use redevelopment. However, the real estate market collapsed along with the national economy and the demand for redevelopment properties ceased. Vacant land prices declined drastically between 2006 and 2008. The rate of decline decreased during 2009 and began to stabilize in 2010. The market activity for redevelopment properties has increased during the past two years and land values appear to be stable at this time. We expect this trend to continue as the real estate market Improves and redevelopment becomes feasible again. In our opinion, development of this site could be considered at this time as the market continues to improve. It Is our opinion that the maximum productivity of the Subject could be realized with future commercial development. The adjacent property owner would be the most likely purchaser. W hSMn x_x �" iw% ux.��v s. exaeao.r n wxss r.,.,., ao�w.swxt w mw�wr�w�.�.V.uxevv�'awttuv�.......... .:a.......... wevyyese.-�.w n ame: � N��wnt An Wax" -11VM;HAE*pPJ MAI # #;MUMIFETNIM, fiTOMIMw Sales Comparison Extraction Allocation Subdivisionl / ` Land Residual Ground Rent Capitalization Usually the most ! _ toestimate landvalue isbysales comparison.- few sales are available, however, or when the value indications produced U sales comparison need additional support, procedures like extraction or all at[ may be applied. In the case of the Subject Property the only approach used w the sales comparison approach. Land Valup An P_WcuzjQm_oLYaont land SALea Our search revealed flve sales of properties purchased for redevelopment that were considered to be suitable for direct comparison to the Subject. As shown below, the comparable sales Indicated non -adjusted values nanging from $14.88 to $24.06 per square foot. 7 1 F,7M U-7 TM rt W - Ji 1:2rL I I Record ID Number 9056 0402 9500 0ABK/PG 27636/849 26638/879 Eftdwe sale Prim $130,000 $4,710,000 $345,000 $550,000 $700,000 Sin - Acres 0.48 i 0.20 4.52 0.33 0.74 1.06 Sko - SQ.FL 20,999 1; 8,736 196,766 14,337 32,069 46,337 Price Per Sq.FL $14,88 $23-04 $24.06 $17.15 9$15.11 southeast ii rner of �41 Southwest No rthwest Northwest corner of corner of Locfftbn At J 04-'er� PQ VOW"T East Ocean "Mn"T PRIM 4th and 6th Hwh Avenue Railroad Boulevard Avenues city Boynton Boynton Boynton Boynton Boynton Boynton Beach Much Bei ich Beach ach Neach Date Of sale Jun -15 May", 5 Fet�44 Dec -13 De -13 o Datof Wkie Dec-15e ZonlngC BD C2 MU -H CBD C2 CBD CondMons al Sob 0% -10% 0% 0% 0% Karkd Condidon Adj. 0% i 10% AAfJLwW Price Per Sq.Ft. $14.08 $23.94$18.01 $13.86 0% 0% 0% MV -7177-77 M Land Value Ansivsis y .r im r. i h am An a� 7. Am V. 'c _ . i... _,... i i .. �iE Good SE lot Ave SE ' ! t.... _ # _ ..... Fs i tt ij aw b ... effi i t � PA sw loth '044 __.._.. „t t loth;. {Pi 7 2 - ! w® ram ^.•®. 4A74 - YPb kd � n p o n 91d ct 11Tdv � r V Land Value Annivske 111117 =7- It"VW7 Rewrd ID Property Type Address ="; M., PT -1 F71*77711 =U Recorded Mat Property Rights 9056 Commercial, Vacant Land P,05 East Ocean Avenue, Boynton Beach, Palm Beach County, Florida 33435 North side of East Street 08-43-45-28-03-005-0080 Lots 8 & 9, less E 30', Block 5, Town of Mnton Robert F. Katz, III, PR & Arthur B. D'Almelda, PR East Ocean Avenue, LLC June 24, 2015 27636/849 PB 1, Pg 23 Fee Simple m ....... — — — ---------------- — -- - — -------------------- vnd Mahse A Land Sale No. 1 (Cont.) Conditions of Sale Arm's length Financing Cash to seller Sale Price $130,000 1.8-ilg-MA Zoning C2, Neighborhood Commercial 'Topography All upland with mature trees Utilities All available Land Use Plan Local Retail Commercial Lillmisuftinfizinfillan Gross Land Size 0.201 Acres or 8,736 Front Footage East Ocean Avenue I XMI'Mudgm- Sale Price/Gross Acre $648,214 gals Price/Gross SF $14.88 R2MALM This property was purchased fbr Investment purposes and future redevelopment in conjunction with adjacent properties. M Legd V811je, A Imr, I IT 3111-IrT17TW3 Property Type Property Name Address I Sale Data Grantor Grantee Sale Date 9055 Mixed use, Vacant Land 500 Ocean 500 East Ocean Avenue, Boynton Beach, Palm Bea& County, Florida 33435 Southwest corner of East Ocean Avenue and South Federal Highway 08-43-45-28-03-007-0010 Lengthy May 26, 2015 27562/1854 Fee Simple .. , lengthConditions of Sale Arm's Financing Cash to seller Sale Price $4,710,000 Gross i sd Size 4.517Acres s ,766 SF Front Footage South Fe■'Highway; Ocean Avenue AT"-- to1 'l Sale Price/Gross Acre $1,042,698 Sale Price/Gross Hauls= propertyThis • -r contract fbrapproximately 2 years while approvals were being obtained. The site is being developed with a mixed use project -c 500 Ocean. It will Include 341 luxury rental apartment units, 13,300 square feet of retail, 6,600 square feet of office space and a 664 -space integrated paridng garage. Construction has begun and the anticipated completion date is Fall 2016. The City of Boynton r r # period after the -- Land Sale No. 3 ProRarty Idgritificati2n Record !s 8499 Property Type Commercial, r d Address " ! 'Highway,Boynton B -Beach County, Florida 33435 Location Northwest comer of North Federal Highway and NE ist Avenue Tax ! 08-43-45-28-03-001-0121 Legal Description of LotLotless 10 feet, 13 & 14 Block ! l ! ! + • N.Federal, February 19, 2014 26638/879 Fee Simple C Land Sale No. 3 . Conditions of Sale Arm's length Financing Cash to sellei Sale Price 01#, Land Zoning CBD, Central Business District UtilitiesTopography Previously Improved All available Land Commercial Gross Land Size 0.329 Acres or Front Footage North Federal Highway; NE Ist Avenue Frr o i Price/GrossSale z Price/GrossZale 06 ReMgrks This property was for investment+. . future redevelopment. was Improved ! . - feet at tini of sale. The b ! the building until redevelopmentoccurs. used for an Ice cream parlor called The Boardwalk W ............ Land Anwil - - ------------ . ............ - ...... . ....... --kn!"111,1, Land Sale No. 4 Propedy identification — 417 East Ocean Avenue LLC Record XD 8500 Propefty Type Commercial, Vacant Land Address 413 East Ocean Avenue, Boynton Beach, Palm Beach Recorded Plat County, Florida 33435 Location Northwest corner of East Ocean Avenue and the Florida Conditlans of Sale East Coast Railroad Tax ID 08-43-45-28-03-005-0040, 0091 & 0100 Legal Description Lots 4-6 & 9-11, Block 5, Town of Boynton I- _q 1771 � . ate Grantor — 417 East Ocean Avenue LLC Grantee 206 Boynton U.0 Sale Date December 27, 2013 Deed Book/Page 26546/1 Recorded Plat PB 1, Pg 23 Prop" Rights Fee Simple Conditlans of Sale Arm's length W 0.................... " ....... .. ...... --- - ----- --------- ................ . . . ......... . ..................... ... Larrd %w"Ahluct An ------------ Financing Cash to seller Sale Price $550,000 Land Rau Zoning C2, Neighborhood Commercial Topography Previously Improved Utilities All available Land Use Plan Local Retail Commercial Load Slze loftnnation Gross Land Size 0.736 Acres or 32,069 SF Front Footage East Ocean Avenue; NE 3rd Stree,, Wars Sale Price/Gross Acre $747,077 Sale Price/Gross SF $17.15 Rernarim This property was purchased for Investment purposes and future redevelopment in conjunction with acijacent properties. It consists of two parcels, one fronting East Ocean Avenue and one fronting NE 3rd Street. KE IVJ m WLand Value Analvsft ;, T -:, r antifiulth Record ID 8501 r rt;' t Commercial,•i County,Address 512-600 North Federal Highway, Boynton Beach, Pal Beach #f #. 33435 Location East si' of North Federalbetween 6th Avenues Tax D 08-43-45-22-05-000-0010 & 002-0010 Legal Description •ts 1-3, Block 2, Civic Center & Lots Boynton BeachProperty St. Mark's Square, December 03, 2013 26486/1926 SimpleFee length F . —����------ _��.�������.����� Land Sale. 5 (Cont.) Financing «v«§ to seller Sale Price %200*00 Lam y Zoning 2¢# Central Business » «»a utilitiesTopography Previously Improved All available Land Use Plan MixedUse � :«cam ?.< � — -- Size . .. . J _ GrosLand Size 1.064 Acres 6,3 w » < 4** . Front Footage North FederalHighw <E 4t Avenue; NE w» Avenue IR 20,999 i $21.00 Per 1 . r, 9..SqTt. X $23.00 PerSq.Ft. ADDENDA ENGAGEMENT LETTER Call�=aZ & Price, Inc, Real ralsers And Consultants Www-a8flawayandpr1cm.cm Licensed l Estate Brokers F I'RWMECQW - tir„"ow, p.,W to prepare an apprabalrePort on vacant HighwayIONSOUth WqtraK sift I ske located at 222 North Federal er>J` �W47 F1011da. It ts our underatanftg that rU WS of the appmWal estimate the M8ftt VAN of the Fee Simple Estets. appropriate 1 w I 7 �z n,�,_ S 4 The e fee Is due and payable upon didivery o, ft report. yr a hard copy upon request. r�,r�, ur Theresa Utterback Specialist Boynton Beach CRA December 4, 2015 ft9e, Two The e of Contractor to comply Theresa Utterback Development services Speclaust Boynton Beach CRA December 4,2015 Page Thme w''M Client Fed 100 or SS*, SOY"Wn 8P.WJI CRA AL 9 - �?- ----- - ------ .� ,� �,�. �� e, „� � �R � m � n , _n aR � � � , �� Mdf x�� �un�unn,��c'mw. :.-';st SbaSai�u .sanmurumn�rcm�,:;.re ..�Pmron mv2�r,:mme.::,rurvrc.:;,w �;s^naa5ssm� �v x:vsc+aF gn�hu4m-a"ana.r �p ururururu .. »maw'...eo-�mt',�srre�euw�aa�.wn„r�.n��vew�s �.».e � �'+ +✓¢�,w..�:Rmcn �.�uwNmw.mew:..�x,�««.e-...r�n+�uw�wwawmaw.�aww�w�ru.cam,........-w�,,.-.revwary .wmim+m�ma�5�u.���».a `��fN��iN�i ��m a�C I hereby agr to the Cond Client's7= Mons of Agreement outUrted above. Name gcWfc�nce QUALIFICATIONS " r4 1 h x:.e. 141111217 l* Fly, "i'QTM 1i4 ,fry and Finance, University Y Florida Appraisal , W Course 101 - An Introduction to Appraising Real Property, 1992 Course 201 - Principles of Income Praducing Properties, 1991 Course l` 1992 Course 540 - Report Writing and Valuatlon Analysis, 1993 Course 2-3 - Standards of Professional Practice Parts A & B, 1991 Numerous seminars sponsored by the Appraisal Institute Acreage Apartment. Complexes p Bowling Allays Commercial Buildings CondominiumProjects Eminent Domain 4 Courses ii Office Buildings Office/warehouses Retail Buildings Restaurants Special Purpose Properties Shopping Centam Vacant Commercial M- Vacant<u Land Vacant Multifamily Pods - Vacant Residential Land Warehouses STATE OF FLORIDA�s gy 1DEPAKMENT OF BUGINESS AND PROFESSIONAL REGULATION t �WWIFLORIDA REAL ESTATE APPRAISAL BD $50487-1305 3' 194D N. MONROE ST.TALLAHASSEE FL 32399-0783 � x•1 : t 3 ! #. c- 'o k F : Irl+ a r • ,i q, u�r r + e a t ti 1 � :, Irl fa+� .• .,: ,w ti� ' + AAll LAMON,#pffT • - 1 IMNAL REGULATIONI i Ml NTMWuaTlow hd 02014 F r N .1 iip eneter the 06TWons _ : ih14�!aRt�ils. LAMON,#pffT • - 1 IMNAL REGULATIONI i - - - - - - - - - - - - - - - -- ............. pa"fe. ng Florida State -Certified Genar Real Estate Appraiser, RZ672 EmmagOLILL, KwLe M --pa Staff Appraiser, First Federal Savings & Loan Aswdation of Delray Beach, 1977-1982 Associate Appraiser, Callaway & Price, Inc., since September 1982 Circuit Court of Palm Beach County, Florida Eduo-aw A2WAL9hM1C2UUWM-F �11 � STATE OF FLORIDA DEPARVVIENT OF BUSINEWi AND PROFEASFONAL REGULATION iFL ORIDA REAL ESTATE APPRAISAL BD i�6 W MONROE BT TALLAHASSEE FL 32:399-0783 To Ai R11.9�114,11, Aaw Nf, v 41 71AMT;7�1 ■ mffimpj� Ori IDA EP T T -Q -. BUSINES6 AND X( ULATIQ 4 sw: P!V— W! M. 0EIr7 JED,Q p ONO 4 ATTACHMENT2 Brooks, Vivian From. Brooks, Vivian Seft: Wednesday, November 04, 2015 11-49 AM To: 'Bonnie is I° Su klect.- Accepted: Meeting with Mike Rumpf, VIVIan Brooks, et al regarding Ocean One Brooks. Vivian MMEMEM Frorm Brooks, Vivian Sent: Tuesday, December 01, 2015 5:06 PM TO Bonnie L Miskel (brn!skel@dmbblaw.corn); William Morris (bill @southcpcom) Cc: DaAs Camalier (dcamalir @wreplic.com) Subject Ocean One Attaichmentic DIFA Policies 2012-2013.doc -?genda item that was approved by the CRA Board regarding Direct incentive Funding AgreeWents. This reflects how the Board is likely to enter into a public/private partnership. Also, as the project moves forward, we can discuss the ndiacent CRA owned land. I look forward to working with your team 1 11111 Vivian Brooks, Executive Dirmw Boynton Beach Community Redevelopment Agency 710 N. Federal Hwy. I Boynton Beach, Florida 33435 o: 561-600-9D90 I fi561-737-3258 Ma�"(CRA C- - s..ll - I'-, � , Low ps an Frapbvq* MI , ski 1 4 It- k�IMU� U �} BOYNToN, �BEAC`FJ-,CR...- -l 1951 ATI111111 Ct _ . depending on the project (See Table Below). Wit....... Address The Federal Promenade Highway ,ft Gil'!111l =77 Ail; 1 Public Parking Spaces for 1'fearsi r 1. Create permanent public parking for the Transit Oriented Development Area around the FEC .......d...r. 2. Redevelop the downtown area as defined in the Downtown Vision and Master Plan (See t • Map). 3. CreaUon of jobs in the fields of technology, biomedical, green energy, healthcare or the constructionMfcorporate headquarters. 4. Location of a specialty food store of at least 10,000 sq. ft. in the downtown area as part of mixed-use project. 5. Development of a flagship hotel in the downtown area. l. ,�e +x �..r rr - ,:. _ • '.,ase J i� l . r- ',... , . - a t ., Brooks, Vr-Wan MENNO From: Brooks, Vivian Seft Monday, January 11, 2016 4.55 PM To. Bonnie L is el (bmiskelftmbblaw.com), William Morris (bill osou thcp.co m), is Camalier (dcamalier@wreplic.com) CC: Simon, Michael Subject Appraisal of 222 N. Federal Highway Attachments: Appraisal -222 N. Fed Hwy-Callaway.pdf aFToT,7LX47lkUCTT I I T f go- �fl you to ensure a good project fbr the GtV and for you. Vivian Brooks, Executive Director Bopftn Beach Community Redevelopment Agency 710 N. rederaL H. I Boynton 11each, Florida 33435 o: 561 -60D -9M I f:561-737-2 Am-kffieb-bfl—&L% 4 www,catch --- nICO -W&RA Late wit, ow Oft'M "M i , Q0521. .......... From: Brooks, Vivian sent Monday, March 07, 2016 11,14 TO., Ronnie L Miskel( i I l .co ); William Morris ( ill sot cp.c ); Davis Camalier ( li Ilc.c ) Taylor, Jer, , C sll, Joseph, Fitzpatrick Mike; McCray, Mack-, Merker, David Subject Ocean One bd1wry 111-01411 Bonnie L Miskel (bmiskel@dmbblaw.com] William Morris (billasouthcp com) Davis Camaiier (dca li pllc.com) Taylor, Jerry Casello, Joseph Delivered: 3/7/201611:14 A RUMViCk Mike Delivered: 3/7/201611:14 AM McCray, Mack Delivered: 3/7!201611:1,4 AM MerW Davfd (Delivered: 3/7/101611:14 AM Read: 3/7/201612.18 PM Tayloriftbfi.usDelivered: 3/7!201611:1 A Brooks, Monday, e f • -Flvv f " r. - •; - a^ -r .1 FIS ••- ��r [ -• f Re" NIL Please let me know when you are ready to discuss the process for this to happen. I look forward to working with all of ou to ensure a good project lbrand for you. Wan Brooks, - Director Boynton .Redeveloprnent Agency 0 N. Federal,Boynton Beach,Florida 33435 • 561-600-9M I f: 561-737-3258 003333M��� =�� Wo R A Jill lids 0 1 If; mWirvalm Wil 1 4 Fri Brooks, Vivian Seft Monday, March 07, 2016 11:04 AM To: Taylor, jerry, Casello, Joseph; FitzpaWck, Mike; Merker, David; McCray, Mack Cc. Simon, Michael; Runi Michael subjel Ocean One Dear Mayor, Vice Mayor and Commissioners, last Thursday plans were submitted to the City for the north corner of Boynton Beach Blvd. and Federal Highway. The plans Include using the CRA property at 222 N. Federal Highway and a portion of Davis Camaliers prop". I advised Mr. Morris and Ms. Miskel that the CRA would need a Letter of intent (see la -mall below) to begin the process of disposing of the CRA prop" to Mr. Camaller. To date, I have not received a Letter of Intent. 175, Real Property. I have a call Into Tara Duhy to see If we can get this on tomorrows agenda If that Is the desire of the Board. I I I I I I I I I I I I i! I I � I I � 1 11 1 ! I I Jill B vjvt) k s, V i Aia n From: Brooks, Vivian Sent: Monday, March 07,2016 12:37 PM T= Bonnie L Miskel (bmlskel@dmbblaw.com), William Morris (billosoot hcp,com); Davis Camalier (dcamalier@wrepllc.com) Cc. Taylor, Jerry; Casello, Joseph; Fitzpatrick, Mike, Marker, David; McCray, Mack, Simon, Michael Subjeck CRA Board Meeting -March 8, 2016 @ 6:30 pm 4uestions? Thank you Brr)oks, Vlvian From: Brooks, Vivian Sent. Monday, March 07, 2016 135 PM Tw; Bonnie L Miskel (bmiskel@drnbbIaw.com); William Morris ill )r Davis Camalier (dcamalier@wreplic.com) cc: r,1 r llo, Joseph, Fitzpatrick, Mike, McCray, Mack; Merker, David, SimoN Michael Subject Ocean One Attachrrierift Boos Devel Purchase Request Impcif; Notice of Intent to Dispose of Real Pmpenypdf Tracidrig: Radplent creavery Read Bonnie L MWwl (biriWcelocimbblaw.corn) William Morris ill m) Davis Camaller (dcarnalier0wreplIccom) Taylor, Jerry casello, Joseph Delivered: 3/7/2M6 1:36 PM Read: 3/7/2016 3:51 PM Fitzpatrick, Mllce Delhered., 3/712016 1:36 PM McCray, Mack Dell d: 3/7/2DI61:36 PM Marker, David Delivered. 3/7/2016 1:36 PM Read- 3/7/2016 4:05 PM Si n, Michael Delivered- 3/7/20161.36 PM Read. 3/7/20161:36 PM TaylorJ@bbfl.us Delivered: 3/7/20161:36 PM Hi Bonnie, our attorney advises me that I can add the Letter of Intent to tomorrow nights agenda as well as the Notice of Intent to Dispose. I have attached a real example of an LOI that the CRA received and acted upon and the subsequent Notice of Intent that was published. Please send the LOI as soon as possible so that I may prepare the agenda items. Thankyou. 0 Ms. Executive Mvictor Boynton Beach RA 710 N. Federal Highway Boynton Southeast corner of Boynton Beach Boulevard and Federal Highway ("Property") The Property Owner owns the rly Beach ,� B�consolidatingparcel, a -unified covering the entire biotic. The Project Is the first phase of redevelopment of the over-all block. more commercial and residential 10 Planned for the second phase,o construct the Project,Property u. approval Boynton Beach CRAto sell Its parcel contain approycirnatelys6,3ogs Wre feet or 1.98 acres d CifdLtYW-0VN SEA 113 01 operrvio -rhe Property Owner at the nomina; rate of o Attached to this request are the 7joFosed elevation f -Y, - and an aerial showing the location. U� you need any addonal in Ez= IA Mb aa4k Fa tgS, 4tgIr. , wp"m %mn "am "RM qw . _ an 2 §� > > <� « •:� � J f « e � §� ate./ dam,/ / � t am mmmmu ow wpm VVI mow Ems "a AN an AV smw v 0 � ?+ i i 3 n� d S nm gg� II s Vd ooslgy a R D CIO moo Jl� .. s s r. 3 , E _ l - - - - - -- --- ---- � _ . u.� '- i a r t t ter 6 tit ( Is aG.x r td4t i,A, Location res 114 N FEDERAL Hff MURICIPalitY BOYNTON REACH a Parcel Control Number 5.2 7-01- 41 Subdivision DEWEYS SUR lei s Official Recars Book 11 page 847 Sale Date DEC -201 S gales °1. 1:1on SE SUB ALT 1 AREA j FEDERAL V , 25 FT NE GTH CT MailingOwners address OCEAN ONE 1529 1200 Y LLC WASHINGTONC 20006 1 694 Saks Date PrIcz 1e 1"y pa Owner DEC -201 5 $10 28011 /0847 QUIT CLAIM OCEAN ONE BOYNTON LLC I F 2 $9,000,000 18193/1325 WARRANTY DEED ONE OY N LLC i -1 997 $1,700,000 10134/1078 WARRANTY DEED DEC -1997 $100 10134/107S QUIT CLAIM r I No Exemption Information Available. Number of Units 0 *TOW Square Feet 0 acres 3.0130 Use Code CO1000 M - VACANT CIAL onita ) - Central Business (0 N REACH Tax Yaw 2015 2014 2013 Drip went Value $36,428 $37.567$36,735 Land Value $2,651,169 $3,347,360$2,382.842 TOUI Market Value S2.687,597 $2,800,000 $2,399,577 All values we as of January lteach r Tax Year 2015 2014 13 Assessed Value $2,687.597 $2,639,535 $2,399,577 Exemption Amount SO so so Taxable Value $2,687.597 $2,639,535 $2,399,577 Tax Year 201S 2014 2013 Ad Valorem $60,302 $6S.420 $54,46$ Non Ad Valorem$4,957 $4,957 $4,310 Total tax $65,259 $70,377 $58,778 � Y Location Address 222 N FEDERAL HWY Municipality BY T N BEACIJ Parcel Control Number 0843-45-27-02-000-0010 Subdivision FUNK BROS ADD IN Officlat Records Back 1 347 Page 1565 Sale Date OCT -2002 Legal DescrIption FUNK BROS ADD IT 1 LYG 5 OF & AQJ TO NE 2 25 FT NE 25 FT & RTN C ) & LT Mailingaddress Owners 710 N FEDERAL HWY BOYNTON BEACH FL 3343 5 397 Sales Date prke OR Hookpage la "1'vpe, Owner OCT -2002 $900,000 14347/ 1565 WARRANTYBOYNTON BEACH APA -1990 $570.000 06409/095s WARRANT DEE Y-1 570,O00 06347 /0182 C-1 981 $490,000 03638/0775 WARRANTY DEED DEC -1 980 S426.000 03416/0912 WARRANTY 12 Exemption Appliggat/owney Year Detall BOYNT0N BEACH C 2016 FULL CRAS AND DDAS Number of knits 0 *Total Square peet 0 Acres 0.4748 Use Code 8900 -MUNICIPAL Zoning COD - Central u i s( D&BOYNTON REACH) Tax Year 2015 2014 2013 Irnprovement Value so so $11,491 Land Value $532,716 $527,442 5413.680 TotTotW Marketlice SS32,716 $527,442 $425,171 I values r January 1 st each Tax Year 2015 2014 2013 Besse Value $514,457 $467,688 S425,171 Exemption Amount $514,457 $467,688 $425,171 Taxable Value $0 $0 so TV Year 2013 2014 2013 Ad Valorem Non Ad Valorem Toni tax so so so - - - - - - - - - - - - - - - - - - - - - CRA Board Meeting Tuesday, March 8, 2016 @ 6:30 pm City Commission Chambers 100 E. Boynton Beach Blvd. Boynton each, FL 33435 I. Invocation and Pledge to the Flag aflwnff• U IV. Legal: None V. Agenda Approval: k"A I A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda A. Disclosure of Conflicts, Contacts and Relationships for Items Presented to the CRA Board on Agenda Items B. Informational Announcements A. Music on the Rocks B. Movies in the Park C. 2nd Annual Boynton Beach Blarney Bash Consent Agenda: B. Approval of Period Ended February 29, 2016 Financial Report C. Monthly Purchase Orders Pulled o sItems: X. Information / r C. Media Regarding the Heart of Boynton Neighborhood Policing Program XI. Public Comments: (Note: comments are limited to 3 minutes in duration) 1' r A. Consideration of Entering into Interlocal Grant Agreement between the City of Boynton Beach CRA and Solid Waste Authority of Palm Beach County and Allow the CRA Executive Director, Vivian Brooks, to Execute the Agreement on behalf of the CRA Board. A. Consideration of Interlocal Agreement (ILA) between the City of Boynton Beach and the CRA for the Property Maintenance of the NE 4th Street Parking Lot B. Consideration of Approval of Interlocal Agreement between Boynton Beach CRA and the City of Boynton Beach in Regard to the Solid Waste Authority of Palm Beach County Grant C. Consideration of Performance Audit - Boynton Village, LLC - The Preserve D. Consideration of Approval of PRH Boynton Beach, LLC's Performance Audit for Year Ending December 31, 2015 for the Casa Costa Project E. Consideration of Purchase Agreement between the CRA and David Hargrove for the Property Located at 146 NW 11 tJ' Avenue as Part of the Model Block Project F. Consideration of Letter of Intent from Ocean One Boynton. LLC for CRA -Owned Property Located at 222 N. Federal Highway G. Consideration of Publication of Notice of Intent to Dispose Real Property for CRA - Owned Property Located at 222 N. Federal Highway XT. Executive Director's Report: B. Recap of CRA Plan Consolidation Workshop held 3/2/16 0; , 14 A. Consideration of Purchase and Development Agreement between Ocean One Boynton, LLC and the CRA for 222 N. F -d - XVII. Adjournment IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE CRA BOARD WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING, HEISHE WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE, HE/SHE MAY NEED TO ENSURE THAT A VERBATIM RE -CORD OF THE PROCEEDING IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. (F.S. 286.0105) THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED By THE C -3256 AT LEAST TWENTry-FOUR HOURS PRIOR TO THE MEETING PROGRAM OR ACTIVITY IN ORDER FOR'fHE! CRA TO CONTACT THE CRA Ax (561) 737 CITY. PLEASE REASONABLY ACCOMMODATE YOUR REQUEST. ADDITIONAL AGENDA ITEMS MAY BE ADDED SUBSEQUENT TO THE PUBLICATION OF THE AGENDA ON THE CRNS WEB SITE. INFORMATION REGARDING ITEMS ADDED TO THE AGENDA AFTER IT IS PUBLISHED ON THE CRAIS WEB SITE CAN BE OBTAINED FROM THE CRA OFFICE. SUBJECT: Considetation of Publication of a Notice of Intent to Dispose Real Property f6r C Twned Property Located atFederal Highway A SUMMARY: If the CRA Board accepts Ocean One's Letter of Intent for the CRA's property located at 222 N. Federal Highway. a Notice of intent to Dispose Real Property must be issued and published in a newspaper per FSS 163.3. Attiched is the proposed Notice of Intent to Dispose Real Property. �j 2EL22EMM, C -7R PLAN, PROGRAM OR PROJECT; Downtow Vision and Master PIZ RECOMMENDATIONS: Approve Issuance and publication of the attached Notice of Innt to Dispose Real teProperty. VIVI n L. Brooks Executive Director BOYWrON BEACH COMMLMW REDEVELOPMENT AGENCY TIC,I,; OF !MTEN-1 49 AUM (0till tOM wil CRA BOARD MEETING OF: January t , 2017 -Tabled 1119/16 for 90 days Old - King,SUBJECT- Discussion and direction for the potential acquisition of 416 E. Martin Luther • , SUMMARY: At their regular meeting held on September 13, 2016, the CRA Board directed staff to present any property identified for acquisition for their review and approval prior to presenting a formal Sale & Purchase Agreement to the property owner for consideration and execution. CRA staff is presenting for the Board's review and direction the availability of the property located at 416 E. Martin Luther King, Jr. Boulevard (see Attachment 1). The property is located at the eastern end of Martin Luther King Jr. Boulevard just west of the FEC railroad tracks and a future zoning classification of "commercial" under the 2016 CRA Plan Update. Staff was contacted by the property owner to express their interest in selling the parcel to the CRA. The parcel is approximately .68 of an acre in size with an active,, 5 315 sq.ft. church building and 28 parking spaces existing on the property. The appraised market value of the property as of October 3, 2016, was determined to be $742,000 but the owner has made no formal statement as to their desired sales price (see Attachment II). Under the 2016 CRA Plan Update and Consolidation, this eastern end of Martin Luther King Jr. Boulevard has a future lad use recommendation of GC (general commercial) and ideally would become a commercial node on both the north and south sides of the boulevard (see Attachment 111). Staff is seeking direction from the Board as to their interest in pursuing acquisition of the property. FISCAL IMPACT: To be determined CPA ADVISORY BOARD RECOMMENDATION: Recommend the CRA Board to pursue acquisition of the property and direct staff to begin due diligence and contract negations Michael Simon, Interim Executive Director ATTACHMENT Agenda Item XIV -A. omm fay ' AddrCl a 416E kcu* kWh f i 19370 Prpr; 1681 IT 1 le hMMM LUIHER KIM JR BLVD RM ` k DIEUVRANCE BY FrArM CHURM WC 416 NE MAIMN LLMNFI Cj MYIWMN REACH -%Am Pm Film � ` L 8 x SO -2005 19370► rseiamw DWVuuMM IW FAITH CHURCH INC 2016 on, a 53 15 Um Owe 7100 Reim= o Ila < ;-,ngr Fl, 11 r #mpmmftntwtw 7 S479.454 IbW kWket VON $741.463 $20%n2 $166.421 i ! slissass All fu" am og of jmual yr Ist am* V@w SYSBAD2 $669,820 am t so s6sqm $608,927 ` $0 j Ad wmm P43 Nft Ad Wbmw 3"5 o so 'mw bw S54S S653 sm i $653 s JEUG1013 FACLAW CIORAICAME CMINNITT191", 416 EAST M41117b RM UqMER KDK; J& DOM,VARD '11W RRAM FLORIDA 334M m Abste sevyjv,�e tskr vet YUQUUJ fli"Tlch Quoin- n'tarkity 710 Swch piduaw 1 0 WM7 % vwpwba lkadk Yj 3040331f""' (Mer 3, 2016 BOYMAL IsYNAl( - V= MgAAq; 71() ;lyh ly"u'dw , T ms Mul fuUMM twas ac At ffflawmi WMM Q6 E h%nb FL . in En&yz Kkg 110=1 lkmwl ing, JrBlvd ,13435 iv the Import M-Polpt) AMM B" MA), SIRA A VMA "W"d Rad EWWe Anyour RZ4 Mi "Ah WN; 'Gent, StwKwcovtflef wasual lRe a" A, pp rag XT&EMAJ IMISDA. 7481 %tywrgy Letter tT! r, able, of air IN, k73M()Djjc!,�rjoN Facts, and, VaA m", ijo-mi's, ZY 0, Oww,"Adp F�WtrtyAddms k"� L Dcsm�patm EstWO 'Tax Ans:vyRi,., � g Arm, Y)sauiwj�gjc,,.� Vm h, 1 -91 S'ffa D, esmaption RdUffing Dasq,�rjption 'Real lux -a-, "i'men", App M-Pwxl-pc,)Br, aw Deffi*i0nof E-1hiler" �' 'tf"-R Of tbOAMtr'Xsl,!-aj-, Soope ofthg�,%rt"f;k 8"xr",0MU O'IfIftfOrmation Proverf -j, 1-ia hom"y H"AtOW, and Best 13'ie, 4MI&Q ft -0- A. full cm6ficasm arvi umithwcowiefts, Build' , c 3—ordhwalc AP its; mad 2-2vi, M03 of Appuimm I 9 9 9 9 9 10 10 14 is 16 17 is 19 19 19 20 20 I m m �1� �,� kt. ��. N a, t MM3 sm s CWadS i aF p p�4 t ` vti.tt � ra s �4��If4 MM3 sm 0 amplachope 0 s CWadS i aF p p�4 t ` 0 amplachope 0 3 E W I 0 m m aw. 416 Mw -un Ludw Khm Jr Obd, FjuVntm Soxh, Rings. 1, 3, 5 We mdfl F%ma, M35 VANM REAL EnATE SMVICE Mollft Lumm, a m Ulm Mmam s 't? fwv"t at'ap"', OW "W'DO 3xvw We marw , IMEM= 6 S&Pbankr 24, aDis As Mollft Lumm, a m Ulm Mmam s 't? fwv"t at'ap"', OW "W'DO 3xvw We marw , IMEM= 6 S&Pbankr 24, aDis Own mid hroamm ............... ti IF 77 QLA;l F77 Wrfl M7T T F-71 rl— Own mid hroamm ............... 416 Ent Marda .. . Jr.Boule Vard BOYnt= BVdCl% FL 33435 Deliverance byf a 416 East Martin Jr.��Boulevard 33435 29,665 aquam,>s g. �5�ji �/llYn a ggj facgggp4g m #ARS 3e At), smd y e, ... x s coma i MS Wted 201 ..-C,2,' �5,315 " , ,9;5 tiSr dao District aWSJ Ia UtY OfH l Retail gI TO develop ,.n i a, , Lig � Fee Re4gsus beilityl d Au[anti ycyta gee k S x'w✓�b ffi�.! 5. As improved' a 1 house of wo.-alip v,tfzl'rra,'f'ii1i't))?ii1n a 4zl!ttt t , 1 ) A �� " 'A � � i7t� { }.� ,i l')l� �r 712 tf}, r=r ,$1t4t�t4 4!r >), 2'r1R Q c E l A a A u T' 12 aotlkgk ff`�"�'�a°,� go ar ae$VWuWxr J"�«r'ab`',���;�;t^ and a jog Ore; "P J,hc WHOM and intendcd of this, repeoil' the, r$03,,(rto is Be ,Ich The, intanded UP.0 Of the Vpndsal %s, fl)jc ac fbr o i%ition C, PAVC"Yvalued. Any ofti-er use ismrg intmdt,,y ,j, 2-2 (a) Ag infopmago? r MR q.Vrglsgl, &CWN J"'fflc&vx'f t'ft'Z*-n#fF th'O g In the fileplipim; b rebnun, In tpjo ej, e,,('VmNmkprqTje!p y Fe-fth CJrjjjx:h. Kin 416 Magjj m I , ,.0 "vazd, Bl',Tyntc-Btu -BeRch, FL 3.34-35 Pr','P",,, Alld"elm 41613ast Martin Ligher K* r. Ejoll , levazd jBI-)YI-ItOn jBmch,,, IL 33435 2 Ir -55 the north 10 f for I oad, jR -Pj4l, BMIC I I rp 66, fthn Beach- mty, -pL 11 2.2(a)o au) "4f ""0474""' 't Me"OF Me real emwt� &pf in I*e ftppra&fl�, 'he' AO PhYdag k8411 and ecconomic clAf piped ,jr4c Prievard &P the, &W W'garlsWes ,mn Reg Esftte T (C,)Xu vuezo Nuinber 08 43 45 2 1 (A 000 00".)cj Land Valu e, S1222,488', 'Ilk rkrovemart Vafue. o "I""Ohni'vallue: $741,463 Asvessee n s "(j, 802, E'f-mr,ti(l.v.l Amount $,7, Tvwzie va-luv. $0, Ad Valarva, - Non Ad V1,11orem $0 ,5 IE b#fow &� t vt ._ MW .a real r} +' v '. h hY + econgnVic r �?��", s , m ■ • r FLU14 -L, ! J� Discussion and Direction for Purchasing the Property Located at 1110 N. Federal Highway SUMMARY: The owner's representative of the property located at 1110 N. Federal Highway has recently contacted CRA staff to discuss their interest in selling the property to us (see Attachment 1). The property is located on the east side of N. Federal Highway, just north of Martin Luther King Jr. Boulevard. This parcel lies within the Federal Highway Corridor District with a future land use recommendation of Mixed Use Low (MU -1) and consists of a 1,780 square foot building on 0.14 acres of land. After several discussions with the owner's representative, staff ordered an appraisal of the property which is attached as Attachment 11 for your review. Over the past several years, CRA staff has attempted to purchase this particular property but previous negotiations were unsuccessful due to a difference of opinion regarding the value of the property. The owner has been provided a copy of the appraisal and has agreed to sell the property to the CRA at the appraised value of $170,000. The property's Federal Highway frontage and proximity to the intersection of Martin Luther King Jr. Boulevard provides the CRA with the opportunity to begin the property improvement needed in this key location. Given the current condition of the building and landscaping along with the small amount of existing parking, quick conversion to a new commercial use isn't possible but CRA staff has already met with City staff to discuss possible commercial/retail uses allowed under the code if a short term building renovation is desired. Regardless, if purchased by the CRA, the existing condition would be addressed and improved until such time as future redevelopment would occur. FISCAL IMPACT: $170,000 from FY 2016-2017 Budget, Line Item 02-58200-401 CRA - -_ Redevelopment -Federalr SimonMicfiaif Interim Executive Director 0 A - A i� - a . 0 . 0 Gary R. Moths, 0 Prope fty Appraiser Paltn4mch,CoUnty L-ocation Address i 110 N FEDERAL HWY Municipality BOYNTON BEACH Parcel Control Number 08-43-45-21-32-002-0211 Subdivision LAKE ADD TO BOYNTON Official Records Book 04549 Page 1527 Sale Date MAY -1985 Legal Description LAKE ADD TO BOYNTON N 22.10 FT OF LT 21 (LESS ELY 20.88 FT & N FEDERAL HWY R/W) & LT 22 (LESS ELY 20.88 FT & N FEDERAL H Mailing address Owners 1 112 N FEDERAL HWY ALPINE SEVEN CO INC BOYNTON BEACH FL 33435 3229 Sales Date Price OR Book/Page Sale Type Owner MAY -1 985 $100 04549/01527 QUITCLAIM ALPINE SEVEN CO INC No Exemption Information Available. Number of Units 0 'Total Square Feet 1779 Acres 0.1385 Use Code 1100 - STORES Zoning C4 - General Commercial ( 08-BOYNTON BEACH ) Tax Year 2016 2015 2014 Improvement Value $15,000 $12,940 $12,854 Land Value $75,425 $72,340 $71,640 Total Market Value $90,425 $85,280 $84,494 All values areas ofJanuary 1 st each year Tax Year 2016 2015 2014 Assessed Value $90,425 $85,280 $84,494 Exemption. Amount $0 $0 $0 Taxable Value 590,425 $85,280 $84,494 Tax Year 2016 2015 2014 Ad Valorem $1,974 $1,913 $1,913 Non Ad Valorem $758 $761 5788 Total tax $2,732 $2,674 $2,701 1 of 1 12/30/2016 4:03 P Gary R. Nikolits, CFA Homestead Exemption ri Pm erty Appralstr P Pafrn4kwh County Subarea and Sq. Footage for Building 1 Code Sq. :Description Footage. REM L 1041 STORE SUPPORT 738 Total Square 1779 Footage 1 EMM [11[ 1 Ir TM w , Description Year Built Units PAVI N G- ASPHALT 1954 217 FENCE- CHAIN LINK 6FT*1 I GAUG 1954 78 PAVING- ASPHALT 1954 627 Unit may represent the perimeter, square footage, linear footage, total number or other measurement of the feature depending on the feature described. Land Details Land Line# Description Zoning Sq. Footage Acres 11, COM M ERCIAL C4 6034 0.1385 I of 1 12/30/2016 3:58 PM Parcel Control Number. 08434521320020211 Location Address: I 110 N FEDERAL HWY Owners: ALPINE SEVEN CO INC 0 Mailing Address: 1112 N FEDERAL HWY,BOYNTON BEACH FL 33435 3229 SUPPORT 7 738 Last Sale: Not aval I able Book/Pagef: 04549 / 1527 Price: Notavailable CD Extra Features 00 Gresnpdrn Unit Legal Description: LAKE ADD TO BOYNTON N 22.10 FT OF LT 21 (LESS ELY 20.88 FT & N FEDERAL HWY R/W) & LT > 22 (LESS ELY 20.88 FT& N FEDERAL H GAUD PAVING- ASPHALT 627 016 Values (Current) Unit may represent the perimeter, square footage, linear footage, YO 16 Taxes total number or other measurement t -j ...... ... . Improvement Value S15.000 Ad Valorem $1,974 tZ Land value 575,425 Non Ad Valorem $758 W Total Market Value $90,425 Total Tax $2,732 Assessed Value $90,425 2016 Qualified Exemptions ... ... .. .. z Exemption Amount 50 No Details Found n Taxable Value $90,425 App.1.1.c,a-n;s;, 0 1I va) ue 5, are as of jan uavy I st crat h ye w No Details Found — z uildingn j I Tq9!pri tj H ulding ubarea and qre Footage... (Buildin 1 C �qu 41�ZT f,JtMA Vo Description I. YEAR BUILT 1954 2. RETAIL STORE 1041 SUPPORT 738 )e5cfiption Area Sq. Footage RETAIL STORE 1 1041 SUPPORT 7 738 Z Total Squam Footage 1779 Extra Features 00 Gresnpdrn Unit PAVING- ASPHALT 217tJ FENCE- CHAIN LINK 6FT #11 78 GAUD PAVING- ASPHALT 627 Unit may represent the perimeter, square footage, linear footage, total number or other measurement t -j 3: 1 of 1 12/30/2016 4:03 PM MUMEM W= -, - M. MO A- � 9 of 1 1/3/2017 4:29 PM � � � ! 1:: I M 11 IYA FOR ilk F: UATM 9 11; 1: 1 Appraisal of An approximately 1,779 square foot Retail Building Located at 1110 North Federal Highway Boynton Beach, Florida 33435 HCNA File No: 16-1031 As of December 15, 2016 Prepared for Theresa Utterback, Development Services Specialist Boynton Beach Community Redevelopment Agency[] 710 North Federal Highway Boynton Beach, Florida 33435 Prepared by Harry C. Newstreet State Certified General Real Estate Appraiser No. 2278 Harry C. Newstreet & Associates 879 Southwest 1r Street Boca Raton, Florida 33486 f 79 SOUTHWEST 17" STREET - BOCA RATON, FLORIDA 33486 * (954)575-3535 - FAX: (954)252-4504 E-MAIL: harry@harrynewstreetoom December 21, 2016 Theresa Utterback, Development Services Specialist Boynton Beach Community Redevelopment Agency❑ 710 North Federal Highway Boynton Beach, Florida 33435 Re: An approximately 1,779 square foot Retail Building 1110 North Federal Highway Boynton Beach, Florida 33435 HCNA File No: 16-1031 Dear Ms. Utterback: According to your request, we have prepared this report of our Appraisal of the property located at 1110 North Federal Highway, Boynton Beach, Florida. The legal description for this site will be detailed later within this report. The purpose of this appraisal assignment is to form an opinion of the market value of the fee simple interest of the property. The improvements are currently vacant; however, this building was formerly utilized as an owner -occupied retail florist store. No value has been given to trade fixtures and equipment. The intended user of the report is the client, Boynton Beach CRA and their representatives. The function of the report is for potential acquisition purposes. To report the assignment results, we use the Appraisal Report option of Standards Rule 2-2(a) of USPAP. This format summarizes the information analyzed, the appraisal methods employed, and the reasoning that supports the analyses, opinions, and conclusions. We have carefully examined those factors that we deemed pertinent in arriving at an estimate of value. We have personally inspected the property that is the subject of this report. The value opinion reported is qualified by certain definitions, limiting conditions, and certification, which are set forth within this report. The appraisal is intended to conform with the Uniform Standards of Professional Appraisal Practice (USPAP), the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, and applicable state appraisal regulations. The client is the Boynton Beach CRA. The appraiser is not responsible for unauthorized use of the report. E-MAIL harryQharrynewstreet.com L...- Two tterback Jjb�j I I I I • I I � I I 1� I � I I � I '111111:�qp� I I I I I I I �� I I ��� I I � I I I I rl�1�1111 I I 1 11 1 Iniiiiii I the definitions, certifications, and limiting conditions set forth in the attached report, as of December 15, 2016 One Hundred and Seventy Thousand Dollam 000) Please note that the above stated opinion of value is not subject to any extraordinary assumptions or hypothetical conditions. This letter must remain attached to the report in order for the value opinion set forth to be considered valid. Your attention is invited to the following data that, in part, forms the basis for our conclusions. Respectfully submitted, Letter of Transmittal SubjectPhotographs......................................................................................................... .........2 Summaryof Salient Facts...........................................................................................................5 Scopeof Services....................................................................................................................... 6 Definitionof Market Value...........................................................................................................6 MarketingPeriod.........................................................................................................................7 Purposeof Report .......................................................................................................................7 Functionand Intended User........................................................................................................7 PropertyRights Appraised..........................................................................................................7 SalesHistory ...............................................................................................................................7 PropertyIdentification.................................................................................................................7 ReportFormat.............................................................................................................................8 PriorServices.............................................................................................................................8 NeighborhoodData.....................................................................................................................9 PropertyDescription..................................................................................................................11 Location..............................................................................................................................11 SiteDescription...................................................................................................................11 PresentUse........................................................................................................................11 Access................................................................................................................................11 Topography/Soil Conditions................................................................................................'91 Utilities................................................................................................................................11 Conclusion..........................................................................................................................11 ImprovementDescription..........................................................................................................12 Overview.............................................................................................................................12 OccupancyStatus...............................................................................................................12 Quality and Condition........................................................... ........12 ....................................... FunctionalUtility..................................................................................................................12 Deferred Maintenance.........................................................................................................12 Planned Capital Expenditures.............................................................................................12 ADACompliance.................................................................................................................12 Hazardous Substances.......................................................................................................12 PersonalProperty...............................................................................................................12 Zoning.......................................................................................................................................13 RealEstate Taxes.....................................................................................................................13 Highestand Best Use...............................................................................................................14 Sales Comparison Approach to Value.......................................................................................15 SalesAdjustment Table......................................................................................................24 SalesMap...........................................................................................................................25 Direct Comparison of Sales.................................................................................................26 Conclusion..........................................................................................................................27 Income Approach to Value........................................................................................................28 CurrentOccupancy.............................................................................................................28 EconomicRent....................................................................................................................28 Potential Gross Income.......................................................................................................28 Vacancyand Collection Loss..............................................................................................29 Effective Gross Income.......................................................................................................29 Expenses............................................................................................................................29 NetOperating Income.........................................................................................................30 CapitalizationRate..............................................................................................................31 Conclusion..........................................................................................................................31 Reconciliation...........................................................................................................................32 WWicateof Value ............................................................................................ General Assumiltion and Urnitin_ Conditions 1% A Addendum............................................................................................................. .................. 37 Harry C. Newstreet and Associates, Inc. x-TT-V4Rr:rw M, Photograph •subjectlookingnortheast Photograph of the Interior 1: 11 Mmmor "' .�,.;" Property Location: The property is located on the east side of Federal Highway, north of Northeast 10th Avenue. The common street address is 1110 North Federal Highway, Boynton Beach, Florida. Property Owner: The Alpine Seven Company, Inc. Date of Value: December 15, 2016 Folio Number: 08-4345-21-32-002-0211 Total Assessed Value (2014): $90,425 Total Site Size: 6,033 square feet Building Size: Approximately 1,779 square feet Zoning: C4, General Commercial, Boynton Beach Present Use: An approximate 1,779 square foot building currently vacant and formerly utilized as a retail florist store. Highest and Best Use: Continued retail use Sales History: There have been no transfers of the property in the last five years. Cost Approach to Value: NIA Sales Comparison Approach to Value: $155,000 Income Approach to Value: $190,000 Estimated Market Value: $170,000 Marketing Time: 6 — 9 Months acquired,The scope of our services tor this appraisal assignment includes a systematic analysis of the factors that bear upon the value of real estate. An orderly program by which the problem is defined, the work necessary to solve the problem is planned, and the data involved are classified, analyzed, and interpreted into an estimate of value. We were not provided - relied upon the appraiser's• measurements property. Sales data in this report was obtained from various data sources including Loopnet • CoStar Comps,well - Palm Beach Countyrolls. ♦ size information for comparable sales was obtained from the Palm Beach• •• Appraiser. e highestinformation was obtained from the County Clerk's Office. The • best use of - property• • We have considered all three approaches ► - we have only developed the Sales and Income Approaches a 0 • Market value is defined as: "The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: Buyer and seller are typically motivated; Both parties are well informed or well advised, and acting in what they consider their own best interests; *. A reasonable time is allowed for exposure in the open market; Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale." (Source: Code of Federal Regulations, Title 12, Chapter/, Part 34.42[g], also Interagency Appraisal and Evaluation Guidelines, Federal Register, 75 FR 77449, December 10, 2010, page 77472) Marketing Period Based upon our review of information in our sales comparison approach to value and conversations with local brokers and property owners, we have estimated the marketing period for the property at six to nine months. Purpose of Report The purpose of this appraisal assignment is to form an opinion of the market value of the fee simple interest of the subject property. Function and Intended User The intended user of the report is Boynton Beach CRA and their representatives. The function of the report is for potential acquisition purposes. Property Rights Appraised The property is improved with an approximately 1,779 square foot retail building. The highest and best use of the property is as improved. The property is appraised in fee simple title subject to those commonly found encumbrances, such as standard utility easements, zoning, mortgage financing, etc., which are considered universal among competitive properties. Fee simple title, as defined by The Dictionary of Real Estate Appraisal, Fourth Edition, 2001, is "absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat." HistorySales There have been no transfers of the property in the last five years. Property Identification The property is located on the east side of Federal Highway, north of Northeast 10"' Avenue. The common street address is 1110 North Federal Highway, Boynton Beach, Florida. The short legal description for the property is as follows: A portion of Lots 20, 21 and 22, Block 2, Lake Addition to Boynton Beach, according to the plat thereof, as recorded in Plat Book 11, Page 71, of the public records of Palm Beach County, Florida. The complete legal description is detailed in the deed to the property included in the Addendum USPAP requires appraisers to disclose to the client any other services they have provided in connection with the subject property in the prior three years, including valuation, consulting, property management, brokerage, or any other services. We have previously appraised this property for this client with a date of value as of April 16, 2015. The previous appraisal reported an estimated market value of $160,000. ;MLMMzr=TM- FTMF-XrMgn�� The neighborhood is considered the southeastern portion of Palm Beach County. Generally, the boundaries are considered to be the Boynton Beach Canal to the north, Ocean Boulevard to the south, the Intracoastal Waterway to the east and Interstate 95 to the west. Interstate 95, Seacrest Boulevard and Federal Highway provide access to the neighborhood from the north and south. Access from the east and west is via Boynton Beach Boulevard, which has an interchange with Interstate 95. Boynton Beach Boulevard is a median -divided easttwest thoroughfare extending westerly from Highway 441 to the easterly Federal Highway. The neighborhood is primarily improved with commercial, mixed-use and residential developments. There are limited amounts of industrial development in the neighborhood. There are fewer vacant commercial parcels remaining as the neighborhood is approximately 90% built-up. Commercial, mixed-use and residential uses are prevalent along Boynton Beach Boulevard, Federal Highway and to some degree Seacrest Boulevard. Residential uses include single-family and multifamily developments, which are mainly located within the interior portions of the neighborhood. Industrial development consists of mainly light industrial/manufacturing uses located near the FEC Railroad. The largest development in the neighborhood is Casa Costa a waterfront condo project with 393 luxury condos built in 2008. Casa Costa is a secure building, featuring 24-hour front desk staff, internal parking garage space with every unit, and a valet staff. Casa Costa waterfront condos range in size and budget, with prices starting at $160,000. The Boynton Beach CRA was initially established in 1981 with a 180 -acre focus on properties east of Federal Highway. Over time, the agency was expanded to include a total of 1,614 acres, spread among five districts: Federal Highway, Heart of Boynton, Boynton Beach Boulevard, Town Square, and Ocean Avenue. The Heart of Boynton District, consisting of approximately 350 acres, is the western -most portion of the CRA and was included in the CRA as part of its 1996 expansion. The district is generally located south of the Boynton Beach canal and Martin Luther King, Jr. Blvd., north of Boynton Beach Boulevard, west of North Federal Highway, and east of 1-95, and it is centered around Seacrest Boulevard, which extends north/south through its center. The Boynton Beach Community Redevelopment Agency (CRA) serves the community by guiding redevelopment activities, such as affordable housing, free special events and small business funding programs, that create a vibrant downtown core and revitalized neighborhoods within the Agency's District In summary, the neighborhood is primarily residential in nature. Occupancy and demand are good throughout the neighborhood. The neighborhood appears to be in the stages of a period of new growth and redevelopment. The long-term outlook for the neighborhood is for a continued rise in values as the market continues to stabilize. Neighborhood Map Rd a f� _ Dr d Location The property is located on the east side of Federal Highway, north of Northeast 10t' Avenue. The common street address is 1110 North Federal Highway, Boynton Beach, Florida. The common street address is 1110 North Federal Highway, Boynton Beach, Florida. Site Description The property is generally a trapezoid in shape, containing a total of approximately 6,033 square feet. The property has approximately 66 feet of frontage on Federal Highway and a maximum depth of approximately 104 feet. Present Use The property is improved with a commercial building with approximately 1,779 square feet of building area currently vacant and formerly utilized as retail florist store. Access The property has frontage on North Federal Highway. Federal Highway is a paved, median divided six -lane roadway. There is no median break in front of the property. Traffic heading southbound on Federal Highway must do a U-turn at Northeast 10"' Avenue. Access to the property is considered good. Topography/Soil Conditions The site is generally level and at grade with the surrounding properties and roadways. We have not investigated the existence of any hazardous or toxic wastes on the site and assume there are no such conditions. Utilities Utilities including water, sewer, electric and telephone are currently available to the site. Conclusion The property is ideally located on Federal Highway with good visibility and positivelcomplimenta.ry surrounding property uses. The subject is generally smaller than typical commercial sites and as such presents a more complicated development potential. Overall, the property is considered average for functional utility as compared to other similar sites. ` !w Overview The property is improved with a commercial building with approximately 1,779 square feet of building area. The building was built in approximately 1954. The subject improvements consist of a CBS building with storefront glass windows and doors. The windows are not impact resistant. The roof is a flat, most likely tar and gravel roof. The site improvements include an asphalt -paved parking lot with minimal landscaping. The flooring is vinyl the and the ceiling is acoustic tile suspended in a metal grid. There is central air-conditioning; however, the owner indicated that it is not functional. There is an asphalt paved parking lot with approximately eight parking spaces. The parking does not appear to meet the current code as it appears to be too close to the roadway, and does not provide a safe back-up distance. Occupancy Status The improvements are currently vacant, but were formerly utilized as a retail florist store. Quality and Condition The improvements are of average quality construction. The property is in fair to poor condition. Functional Utility The improvements appear to be adequately suited to their current use. Deferred Maintenance Deferred maintenance is apparent from our inspection. Deferred maintenance includes a non- functioning air-conditioning, ceiling damage, soffit damage, peeling paint and general repairs to the interior. We have estimated the cost to repair these items at $50,000. Planned Capital Expenditures There are no planned capital expenditures. ADA Compliance Based on our inspection and information provided, we are not aware of any ADA issues. However, we are not expert in ADA matters, and further study by an appropriately qualified professional would be recommended to assess ADA compliance. Hazardous c An environmental assessment report was not provided for review and environmental issues are beyond our scope of expertise. No hazardous substances were observed during our inspection of the improvements; however, we are not qualified to detect such substances. Unless otherwise stated, we assume no hazardous conditions exist on or near the subject. Personal Property No personal property items were observed that would have any material contribution to market value. ISM • as a ► a a ♦- a a- a map (FLUM) ciassification of the Comprehensive Plan.The accommodate - # intensive commercialestablishments a limited light industrial a to serve as a transitional- a -r commercial areas and general industrial- or operations. It appears that the subject is a legal non -conforming use based upon the current zoning code. There is an asphalt paved parking lot with approximately eight parking spaces. The parking does not appear to meet the current code as it appears to be too close to the roadway, and does not provide a safe back-up distance. Real Estate Taxes The subject properly is assessed under one folio by the Palm Beach County Property Appraiser's Office. The taxes for the property, according to the records of the Palm Beach County Property Appraiser, are as follows: Folio Number I '" I I ills] Assessment Year Land Value $75,425 Improvement $15,000 Total al ,425 - I'll s Highest and best use is defined in the 13"' Edition of the Appraisal of Real Estate, as published by the Appraisal Institute, copyright 2008, as "The reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value." It is to be recognized that in cases where a site has existing improvements on it, the highest and best use may very well be determined to be different from the existing use. The existing use will continue, however, unless and until land value in its highest and best use exceeds the total value of the property in its existing use. The highest and best use of the land or site, as vacant, and available for use may be different from the highest and best use of the property improved. This is true when the improvement is not an appropriate use, but it makes a contribution to the total property value in excess of the value of the site. This can also be true when the present improvements are legally non- conforming, but would not be permitted as a new building under current zoning/land use regulations. Three tests must be met in the estimation of the highest and best use. The use must be legal and probable, not speculative or conjectural. A demand for the use must exist and yield the highest net return to the land for the longest period of time. These tests are applied to improved as well as vacant property. To arrive at the estimate of highest and best use, the subject site was analyzed. The subject property is of sufficient size and shape to physically accommodate a variety of potential uses. The surrounding uses are primarily commercial and residential uses. A review of possible uses of the subject site takes into account those uses that would be permitted relative to the existing zoning or potential zoning and/or deed restrictions that are associated with the site. We have not done a formal title search; it is our assumption that there are no deed restrictions that would restrict the property's use. Currently, the subject is zoned for commercial uses. The highest and best use, as if vacant, is for commercial development. We have considered the subject property as improved. The improvements on the property were originally constructed in 1954 with minimal updating made to the property since that date. The property is currently vacant. In our opinion, the subject's existing improvements contribute value over and above the land value. Therefore, the highest and best use, as improved, is as improved. The Sales Comparison Approach draws heavily upon the principle of substitution. In essence, this principle states that a prudent purchaser will pay no more for any particular property than it would cost him to acquire an equally desirable alternate property. This approach consists of the comparison of similar properties which have recently been sold or which are currently being offered for sale, to the subject property. This comparison process involves making adjustments between the subject property and the comparable properties on an item -by -item basis. The factors considered in the comparison include location, date of sale, conditions of the sale, (including financial terms), and physical characteristics. The subject property is the standard and the adjustments are made to the sale price of the comparable property in order to arrive at an indication of value for the subject. tip] I if I I I M I Kme] 11UPP. MWT7� which the property is sold, and the date of the sale. Folio number: 08-43-45-28-03-003-0010 Recorded: OR Book 27468, Page 576 Legal description: TOWN OF BOYNTON LTS 1 & 2 & E 33.5 FT OF LT BLK 3. Location: 217 Northeast Td Street, Boynton Beach Grantor: Seal Tite Enterprises Grantee: Mr. Rodriquez Enterprises, Inc. sale:Date of April 15, 2015 Consideration: $469,501 Financing: Cash to Seller Type of instrument: Warranty ► Condition of sale: Arm's Length Encumbrances: None noted Zoning: C-3, Community Commercial, Boynton Beach Land size: 16,670 square feet Price per square foot: Irregular Access/frontage: The property has frontage on E. Boynton each Blvd. and N.B. 3 St. Yearbuilt: 1955 Buildingsize: 4,920 Parking: 12 Value Indicators Price per square foot: $95.43 Comments: The property is improved with a strip retail center and auto repair bay with the parking in both the front and rear. e?"Mc.I TIM 0 Folio number: 08-43-45-28-01-000-0010 Recorded: OR Book 28559, Page 707 Legal description: CENTRAL PARK ADD TO BOYNTON LTS 1 & 2 & N Location: 1305 South Federal Highway, Boynton Beach Grantor: Patricia J. Hoffman Trust Grantee: Rajas Family Investments, Inc. -tate . September l Consideration: $650,000 19nancing: Cash to Seller of Deef, Condition of sale: Arm's Length Encumbrances: None toted Zoning: C3, Community Commercial, Boynton Beach Land size: 22,642 square feet Irregular Accessifrontage: The property has frontage on SE 12'" Avenue and Federal Highway Improvement description Year built: 1959 Building size: 3,360 Parking: 15 Value Indicators Price per square foot.- Comments: The property was improved with a vacant convenience store at the time of the sale. The buyer intends on renovating the property for use as a wine and tobacco store. Folio number: 08-43-45-21-07-001-1131 Recorded: OR Book 28007, Page 1492 Legal description: BOYNTON HILLS W 25 FT OF LT 113 (LESS S 10 FT SR 804 RMI) & LTS 114 & 115 (LESS S 10 FT SR 804 RNV) BLK A Location: 225 West Boynton Beach Boulevard, Boynton Bea& Grantor: Hair and Nails Perfection, Inc. Grantee: MABA Holdings, LLC Date of December 1 Flft:_ 11� Financing: Cash to Seller Type of instrument: Warranty Deelt Condon of sale: Arm's Length Encumbrances: None noted Zoning: C2, Neighborhood Commercial, Boynton Beach .Land size: 13,865 square feel Shape: Irregular Access/frontage, The property has frontage on Boynton each Boulevard and Northwest 3rd Court Improvement description Year built: 1946 Building size: 1,304 Parking: 10 Value Indicators Price per square foot: $195.55 Comments: The property is improved with a former residential building converted to retail use. -olio number: 08-43-45-28-24-000-0201 OR Book 26113, Page Legal description: PARKER ESTATE LT 2.1 Location: 915 S. Federal Highway, Boynton Beach Grantor: Sundowner Motor Inn, LLC ADF Investments, LLC sale:Date of June 19, 2013 Consideration: $240,000 Financing: Cash to Seller ■ V= Type of l --R' LengthCondition of sale: Arm's Encumbrances- None noted Zoning: C3, Community Commercial, Boynton Beach Land size: 6,983 square feet Irregular Access/frontage: The property has frontage on S. Federal Highway Improvement description Year built: 1968 & 1928 Building size: 2,062 Parking: 8 Value Indicators Price per square foot: $116.39 Comments: This property is an office building featuring a conference room and kitchen with parking in both the front and rear. Harry C. Newstreet and Associates, Inc. 1110 N. Federal WnhwAv Boynton 3360 22,642 Nam �7 Adjustment 'NMI 0% 1 $0,00 Financing Cash Adjustment 0% so -00 $0,00 111011M 0% Arm's -Length Arm's -Length - Lin 1_ Arm s-Lengin Market CandRians 4115119 12122/15 Adjustment 7.25% 1 $14,18 MEWN11111 Price per SF $209.73 Quantitative Analysis Lo Mon Harry C. Newstreet and Associates, Inc. I w wqvuig Aff % !, y In considering the sales, various factors are evaluated in a logical sequence. The following discussion illustrates the steps undertaken in our analysis. Property ights ConveyediCondition of Sale Each of the comparable sales consisted of the conveyance of the fee simple ownership or the leased fee interest at market rates and terms. All of the sales were arm's-length transactions. Financing The financing for each of the sales has been analyzed. All of the sales consisted of cash to seller or private financing at market rates and therefore, the cash equivalent price is equal to the sales price. Market Conditions The sales took place in a date range of June 2013 through September 2016. The commercial real estate values have continued to increase over this time period. The sales are adjusted upward at a rate of 3% per year. Location The property is located in the northeastern portion of Boynton Beach. Sales 1 and 3 have similar location. Sales 2 and 4 are located on Federal Highway, south of Ocean Drive, which is considered a superior location and are adjusted downward 10%. Access/Exposure The subject and Sales 1 and 4 are considered similar for access and exposure and no adjustments are required. Sales 2 and 3 are located on corners with superior access and are adjusted downward 10%. Floor Area Ratio The Floor Area Ratio represents the relationship between the size of a building and the size of the site. The subject property has a Floor Area Ratio (FAR) of 0.29. The comparable sales have Floor Area Ratios ranging from 0.09 to 0.30. Generally, a lower ratio indicates a greater percentage of the property is available for parking and open space. In addition, these are older improvements and as the improvements age, the land value becomes a more significant component of the value. Sales 2 and 3 have a significantly lower FAR and are adjusted downward 10%. The subject is approximately 1,779 square feet in size. The sales range from 1,304 to 4,920 square feet in size. The subject and the sales are considered similar for size and no adjustment is warranted. AgelCondition mnm The subject building was originally built in 1954 and is overall in poor condition with approximately $50,000 in deferred maintenance. The adjustment for deferred maintenance will be made after the conclusion of the indicated value of the subject as repaired. Sale 1 is considered to be in fair condition and is adjusted upward 10%. Sale 3 is considered to be in good condition and is adjusted downward 10%. Sales 2 and 4 did not require any adjustment. Quality/Build-out The subject is currently vacant, but has been previously utilized as a retail florist store. Sales 2 and 3 are considered superior for building quality and are adjusted downward 10%. Sales Comparison Approach to Value - Conclusion In valuing the property, we have considered four sales comparables. The sales range in total price from $240,000 to $469,500. These sales range in price per square foot (unadjusted) from $95.43 to $195.55. The adjusted price per square foot for these sales ranges from $109.43 to $125,85. The sales range in date from June 2013 through September 2016. The overall building sizes range from 1,304 square feet to 4,920 square feet. In our analysis of the property we have considered several factors. We have considered the property rights conveyed, the condition of sale and financing. Each of these factors for the comparables was considered similar. We have also considered the market conditions, location, access/exposure, the floor/area ratio, size, age and condition and the quality/build-out. In valuing the subject property, we have researched the market for similar properties and have considered these four comparable sales. We have utilized the price per square foot basis of comparison in our analysis. These four comparable sales range in adjusted price per square foot from $109.43 to $125.85. Based on all factors, a unit value of $115.00 per square foot is well supported and has been estimated for the property. This indicates the following for the total property: Sales Comparison Approach to Value Stabilized Price per Square Foot $115 Building Size 1,779 Indicated Value $204,585 As Is Adjustments Deferred Maintenance -$50,000 Total Adjustments -$50,000 Indicated Value $154,585 Rounded $155,000 The Income Approach to Value is predicated upon a definite relationship between the amount of income a property will earn and its value. Although all of the appraisal principles are involved in this approach, the principle of anticipation is particularly applicable. The Income Approach to Value is based upon the premise that an investor would purchase the property based upon its income-producing capability. Therefore, this approach entails the analysis of the income- producing capabilities of the property and a capitalization process that attempts to replicate the actions of a typical investor. The process of capitalization involves multiplying the annual net income by a factor or dividing it by a rate that weighs such considerations as risk, time, return on investment and return of investment. The appropriateness of this rate or factor is critical and there are a number of techniques by which it may be developed. The net income attributable to the subject property is estimated by subtracting vacancy, collection fosses, and expenses from the property's annual potential gross income. All of these figures are derived from the market comparison of similar property. Current Occupancy The subject property is currently vacant. There is no current lease for the property. I •i•r11M In order to estimate the subject's market rental rate, a survey of competitive properties was made. The following table summarizes the rent comparables surveyed. In forming an opinion of the value via the Income Approach to Value, we first develop a projection of the potential gross income. The comparable rental properties range from $10.00 per square foot on a NNN basis to $28.00 per square foot on a gross basis. These are all asking rents. The comparable rentals are in average to good condition. The rent estimate for the subject is made after the correction of the deferred maintenance items and then the value will be adjusted based upon the estimated cost to correct these items. The subject property would compete favorably with these four rental comparables (after the correction of the deferred maintenance items). After reviewing the information regarding the comparables, we have estimated the market rent for the property at $13.00 per square foot on a net basis with the tenant paying the real estate taxes, insurance and maintenance expenses. This would equate to an annual potential gross income of $23,127. Vacancy and Collection Loss 0 400 N. Federal Hwy., Boynton B ` $10.00 2015 S. Federal Hwy., Boynton Beach —$18.11/SF-NNN 416 P.. Boynton Beach Blvd., In forming an opinion of the value via the Income Approach to Value, we first develop a projection of the potential gross income. The comparable rental properties range from $10.00 per square foot on a NNN basis to $28.00 per square foot on a gross basis. These are all asking rents. The comparable rentals are in average to good condition. The rent estimate for the subject is made after the correction of the deferred maintenance items and then the value will be adjusted based upon the estimated cost to correct these items. The subject property would compete favorably with these four rental comparables (after the correction of the deferred maintenance items). After reviewing the information regarding the comparables, we have estimated the market rent for the property at $13.00 per square foot on a net basis with the tenant paying the real estate taxes, insurance and maintenance expenses. This would equate to an annual potential gross income of $23,127. Vacancy and Collection Loss .=, 1 GrossThe overall occupancy in the market appears strong. Ah ot the comparables show a good occupancy factor. The subject property is currently owner occupied. Based upon our analysis, it is our opinion a stabilized vacancy and collection loss of 10% is warranted. Effective • Based upon the foregoing, the following is our estimate of effective gross income: Gross potential • - 1.collection• Effective gross income Expenses We have estimated the effective gross income and must now deduct the necessary expenses attributable to the landlord. In estimating the expenses attributable to the subject property, we considered those expenses that would be paid by the landlord under the estimated market rent. These expenses are detailed as follows: Fixed Real Estate Taxes: The tenant would pay the real estate taxes. Insurance: The tenant would pay the insurance. Variable Management: The property owner can elect to manage the property themselves or they can hire an outside management company that would charge a percentage of the effective income for the property. We have spoken to several management companies and have noted that the average is 3-7% of the effective annual income. The management company would be responsible for the collection of rents, insuring that the expenses are being paid and for leasing the property should it become vacant. We have estimated the management expense at 5% of the effective gross income. Maintenance and Repairs: The tenant would pay the maintenance expense. Utilities: The tenant would pay for their own utilities including electric, water and sewer. Reserves for Replacement: Typically buyers and sellers of real estate often overlook reserves for replacement. This item includes expenses for periodic replacement of short- lived building components such as the roof, the parking lot, etc. We have made an allowance of 2.5% of effective gross income, which is considered reasonable. a= =II=� -stimate of stabilized net operating income. Gross potential income $23,127 Less vacancy and collection loss (10%) ($2,313) Effective gross income $20,814 Landlord expenses Real estate taxes $0 Insurance $0 Management (5%) $1,041 Maintenance and Repairs $0 Utilities $0 Reserves for replacement (2.5%) $520 Total expenses $1,561 Net operating income $19,253 M- lilpff-Imell 16111 9"Fm oil] I IM241"NA IM 0 We have estimated the capitalization rate for the subject at 8%. WIP11,11,11141,111 - 4 15 19LIMAkyjallall T-VulluoucMe the table immediately following. .1 . 'IRF111m, 0=1 tiIi rl 11 IR T Effective Gross Income $20,814 Expenses $2,313 Net Operating Income $19,253 Capitalization Rate 8% Stabilized Value Indication $240,663 As Is Adjustments Deferred Maintenance -$50,000 Total Adjustments -$50,000 Indicated Value $190,663 Rounded $190,000 ITTI-T-7117- �� ".- Reconciliation - process appraiser -relative strengths and weaknesses oeachapproach developedwithin theappraisal.Consideration 1:the strength.reliabilityofthe data utilized, as wellas the confidence the judgments . conclusions -.: 'f for eachapproachdeveloped within the appraisal. outcome . - reconciliation process - final value estimate - subject property. Comparison Approach to Value and th e Income Approach t o Val ue. Cost Approach to Value NIA Sales Comparison Approach to Value $155,000 Income Approach to Value $190,000 The Sales Comparison Approach indicated a value of $155,000. The strength of this approach is the fact that there were sufficient comparables that were similar to the subject. The weakness of this approach lies in the accuracy of the analysis made for the differences between the subject and the comparables. This approach is generally given significant weight by market participants. The Income Approach indicated a value of $190,000. The relative strength of this approach includes the analysis of comparable rentals and the income and expenses. The weakness in this approach is in the market abstracted capitalization rate. This rate has a significant impact upon the final value indication within this report. The subject is a freestanding retail building that would be suitable for an owner -user and therefore this approach would typically be given less weight by a typical buyer. We have placed equal reliance upon the Sales Comparison and Income Approaches to Value. In our opinion, the market value of the subject property, as of December 15, 2016 is as follows: I certify that, to the best of my knowledge and belief: the statements of fact contained in this report are true and correct. the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial and unbiased professional analyses, opinions, and conclusions. I have no present or prospective interest in the property that is the subject of this report, and no personal interest with respect to the parties involved. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. my engagement in this assignment was not contingent upon developing or reporting predetermined results. my compensation for completing this assignment is not contingent upon the developing or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. my analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, which include the Uniform Standards of Professional Appraisal Practice. I have made a personal inspection of the property that is the subject of this report. No other person provided significant real property appraisal assistance to the person signing this certification. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. C )V— Harry C. Newstreet, MAI State Certified General Real Estate Appraiser No. 2278 General Assumptions and Lim% Conditions i10 responsibility is assumed for the legal description provided or for matters pertaining to legal ortitle considerations.tothe property•; to be good andmarketable unless otherwise stated. The property is appraised free and clear of any or all liens or encumbrances unless otherwise The information furnished by others is believed to be reliable, but no warranty is given for its accuracy. All engineering studies are assumed to be correct. The plot plans and illustrative material in this report are included only to help the reader visualize the property. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures that render it more or less valuable. No responsibility is assumed for such conditions or for obtaining the engineering studies that may be required to discover them. It is assumed that the property is in full compliance with all applicable federal, state, and local environmental regulations and laws unless the lack of compliance is stated, described and considered in the appraisal report. It is assumed that the property conforms to all applicable zoning and use regulations and restrictions unless a non -conformity has been identified, described, and considered in the appraisal report. It is assumed that all required licenses, certificates of occupancy, consents and other legislative or administrative authority from any local, state, or national government or private entity or organization have been or can be obtained or renewed for any use on which the opinion of value contained in this report is based. It is assumed that the use of the land and improvements is confined within the boundaries or property lines of the property described and that there is no encroachment or trespass unless noted in the report. property.the - value - -Ri is predicated. _is no such material on or in the property that would cause a loss in value. No responsibility is assumed for such conditions or for any expertise or engineering knowledge required to discover them. The intended user is urged to retain an expert in this field, if desired. applies only under the stated program of utilization. The separate values allocated to the land and buildings must not be used in conjunctionother appraisaland are • if so Possession of this report, or a copy thereof, does not carry with it the right of publication. The appraiser, by reason of this appraisal, is not required to give further consultation or testimony or to be in attendance in court with reference to the property in question unless arrangements have been previously made. Neither all nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraiser, or the firm which the appraiser is connected) shall be disseminated to the public through advertising, public relations, news, sales, or other media without prior written consent and approval of the appraiser. Any opinion of value provided in this report apply to the entire property, and any proration or division of the total into fractional interests will invalidate the opinion of value, unless such proration or division of interests has been set forth in the report. I L407u•; Building I 1. YEAR BUILT 1954 2. RETAIL STORE 1041 3. SUPPORT 738 Subarea anM Sq. Footage for Building I Code Sq. RETAIL STORE 1041 SUPPORT 738 Total Square 1779 Footage. � Hominsfew! Sketch for Building Description year Built Units FENCE- CHAIN LINK Wr #11 GAUG 1954 78 PAVING- ASPHALT 1954 627 PAVING- ASPHALT 1954 217 Unit may represent the perimeter, square footage. Rmear footage, total number or other measurement at the feature depending an the feature described. Land Details Land Line # ®s-;riptign Zoning Sq, Footage Acres 1. COMMERCIAL C4 6034 0.1385 oxerNo RAMCD FORM a HARRY & ASSOCIATES Harry C. Newstreet, MAI Mr. Newstreet is the President of Education Harry C. Newstreet & Associates, • Florida State University — Bachelor of Science, which is based in Boca Raton, December 1989 Florida. Numerous appraisal related seminars and classes . Certified by the Appraisal Institute for Continuing Education Mr. Newstreet takes pride in his recognition for prompt Instructor preparation and timely delivery of • Former Adjunct Professor: Florida Atlantic University, well-documented appraisals. His College of Business, Real Estate Section commitment to excellence Licenses ensures in his clients the . State Certified General Real Estate Appraiser No. confidence that their unique 2278 (Florida) requirements will be handled in • Real Estate Salesman License No. 617303 an expeditious, professional and accurate manner. Professional Associations . Member of the Appraisal Institute (MAI) No. 12441 . Association of Eminent Domain Professionals Mr. Newstreet can perform a wide variety of real estate Publications services that cover the entire Smoothing Wrinkles in the Spread: Special spectrum of the real estate Assessment Issues — Appraisal Journal April 2000 appraisal field including property Lectures appraisal, acquisition, feasibility, . The Development Timeline - SFWMD Seminar, May development and counseling, as 2004 well as in specialized areas such • Appraisal Issues in CRA's — FAR Convention, as expert witness testimony in September 2004 condemnation for right-of-way, Expert Witness valuation, tax problems, . Qualified as an Expert Witness in Federal and State professional standards and other Courts real estate matters. Mr. Newstreet has testified in a wide Experience variety of real estate matters and • 1993/1994 — Pederson & Trask has been qualified as an expert • 1995 Rex Consulting witness in both state and federal • 1996-1998 — Real Property Analysts, Inc. courts. 1998-2004 — Newstreet-Miller & Associates 2005 — Present — Harry C. Newstreet & Associates Mr. Newstreet has completed Locations both form and narrative • Florida, Georgia, New York, Illinois, Kentucky, New appraisals of nearly every variety Hampshire, North Carolina, South Carolina, of residential and commercial Alabama, Pennsylvania, Ohio property. 879 SOUTHWEST 17° STREET . BOCA RATON, FLORIDA 33486 . (954)5753535 . FAX (954)252 E-MAIL: harry@harryn co - • 2016 CRA it i m Planning Challenges Planning Considerations Vision The Recommendations G3 mom The Federal Highway Corridor is approximately 2.5 miles long and runs from the north to the south City boundaries. Corridor redevelopment has been difficult, given the glut of outdated commercial buildings as well as land use and zoning generally out -of -step with the changing economic environment and current vision. In 2001, to address the blight along the Federal Highway corridor, the CRA and City adopted the Federal Highway Corridor Community Redevelopment Plan. The Plan was updated in June of 2006. The Federal Highway Corridor District benefited from redevelopment activity more than any other district. The land use changes recommended by the 2001 Plan and its update resulted in the development of 2,358 new residential units in the five new projects at the north end of Federal Highway and eight projects along the south end of the District. The CRA recently completed a capital improvement project in the area of the FEC right-of-way, on the west side of Federal Highway between the Stanley Weaver (C-16) Canal and N.E. 15th Avenue. As part of this project, new landscaping, irrigation, lighting and a new entry sign for the City were installed. This District consists of two sections, North and South. Each section extends north and south from the Downtown District, ending at the City's boundary. On the west, they are mostly bounded by the F.E.C. Railroad right-of-way; on the east, both border on the Intracoastal Waterway. The South and North sections of the District represent the main entries into the City from US Highway 1. There are two major arterial roadways in the district: Gateway Boulevard, an east -west arterial between 1-95 and Federal Highway, and Federal Highway, which runs north/south through the entire CRA district. The district is home to two City parks: the Harvey Oyer, Jr. Park with 8.79 acres and the Intracoastal Park with 8.97 acres. Both parks provide residents with access to the Intracoastal Waterway. lI " f � Challen section of - District is the geographic imposed by the location of the FEC Rail line • the Intracoastal Waterway. The insufficient depth- of Federal Hij-Mvay makes ce;tain areas at least difficult to develop. east side of d _ depth of commercial lots is also inadequatebuild responsive to the market. Land assemblage is there are only Among numerous outdated commercial buildings, some are vacant and many under maintained. Additionally, many of the uses are not compatible with the vision of the Plan or with the adjacent residential neighborhoods. Another predominant feature that is creating visual blight is the abundance of overhead utilities. Old utility poles often remain after new poles are installed, taking up precious sidewalk space. The sidewalks are too narrow to allow two people to walk side-by-side or to accommodate the installation of mature shade trees and decorative streetlights. There are insufficient bus shelters along Federal • Highway, even though Route 1 is one of the most used of all the Palm Tran routes. Due to the scale of Federal Highway, the buildings and uses have been oriented to the automobile. There is little in the design of the road, sidewalks or buildings that would encourage biking or walking as an alternative to driving. The drive lanes of Federal Highway are 12' wide, encouraging speeding adjacent to the sidewalk. A major challenge to redevelopment in the area of Federal Highway is the lack of developable parcels. Figure 50: Example of District Planning Challenges k7 FkM in A1d2h The first ■ - is a close proximity including direct barrier Intracoastalthe • +h three public parks stormlocated at each end of the corridor. However, it also ■e, stormwater•' and. - - related impacts of - level ■ • the east side of the corridor are especially susceptible to .++ ftvaZe,•- seatlims •-tth mirthr • FEMA-designatedunder Special Flood Hazard Area storm(SFHA) and .e zones extending west past Federal Hiahway. Po Both the north and south parts of the District overlap with the Comprehensive Plan's Coastal Management area, and therefore are subject of all its policies. The main focus of these policies is flood prevention and mitigation, including policies regarding certain uses, development intensity increases and public infrastructure improvements in areas most prone to flooding. All have to be taken into consideration in redevelopment decisions, striking a balance between people's desire to live on the water and the need to reduce threat to life and property from natural hazards. At the same time, the policies strongly encourage that public waterfront access be a part of all waterfront development. The return of passenger service to the F.E.C. Railroad as part of the Coastal Link project will also serve as an attractiondowntown • and working as the City redevelops. A portion of both segments _ corridor Transit Oriented Development District.- entire County'sthe most .. a - Route m FederalThe •hway Corridor shall serve as a majorof entry into the City and the 'r r' r toth the north and south direction. There shall be a mix of uses that front the road, improve and activate the area. The streetscape will encourage biking and walking by providing shade, attractive lighting and a sense of safety. The single-family neighborhoods will experience an increase in value and become more attractive to buyers. .a.a.. tia, nse; Streetscape enhancements are recommended for the Federal Highway corridor. The space for these enhancements may be obtained through either right-of-waydedications or s easements ■ should include: • Enhance median with mature tree canopy (at time of planting) and landscape lighting • Marking of major intersections with materials such as pavers, paint, etc. • Create a Pedestrian Zone adjacent to the right-of-ways that is inviting, safe and includes: • Addition of canopy street trees • Minimum 8' wide clear sidewalk Decorative light poles at both the vehicular and pedestrian scales A Require installation of canopy trees that provide immediate shading at time of construction Underground overhead utilities Provide additional pedestrian crossings where needed Create a greenway along SE 4th Street per the Connectivity Plan Highway (North) District I in Highway (South) District MrUnmMim The following urban design guidelines are recommended for the Federal Highway north district: * The buildings shall be set back to accommodate on -street parking and the Pedestrian Zone. * All overhead utilities shall be installed underground. • For buildings incorporating commercial uses, these uses must front Federal Highway and shall maximize glazing facades visible from rights -of -ways. • Approximately 75% of the lot frontage must be occupied by structure and be adjacent to the pedestrian zone. • Buildings fronting Federal Highway shall have a minimum height of 30' • Buildings fronting Federal Highway shall be a maximum of 45' in height, any additional height permitted by the zoning districts must be stepped back proportionately to the overall height, a minimum of 90' deep. Parking shall be located to the rear or side of the property. MU -L Land Uses are permitted to have one (single loaded) row of parking in front of the structure. • Curb cuts shall be permitted on Federal Highway only when access is not possible from the rear or side. • Adjacent single-family areas shall be protected through the use of landscape buffers and/or walls as appropriate. • Building roofs shall have vertical breaks to prevent long unbroken spans. • Building facades shall be articulated with plane changes at least one foot deep with changes in color texture and material. 0 All buildings along Federal Highway must have pedestrian access from the right-of-way/ sidewalks. • The main pedestrian entry, or front door, must be fronting Federal Highway. II Figure 55: Example High Density Residential Project Figure 56: Example Mixed Use Law Project H R r10 M71 MEW SUBJECT: Consideration of the Purchase and Sales Agreement with Violet Real Estate, Inc. for the property located at NE 3'd Street. SUMMARY: CRA staff was connected by the owner of the property located at NE 3"d Street to discuss their desire to sell the property. The parcel is located on the corner of NE aro Street and NE Stn Avenue within the Heart of Boynton District at the eastern end of Martin Luther King Boulevard. The property is currently vacant land lying within the General Commercial (GC) Land Use category. (see Attachment 1). The owner of the property has agreed to sell the parcel to the CRA for a purchase price of $30,000, with the condition that we make every effort to close by January 30, 2017. CRA legal counsel has reviewed the Purchase and Sale Agreement and feels comfortable that the requested closing date can be accommodated (see Attachment II). With the recent appraisals and vacant property purchases made by the CRA within the Model Block Project area over the past 30-60 days, staff supports the sale price being offered by the owner. In addition, this parcel lies adjacent to two (2) vacant parcels of land owned by the City of Boynton Beach making acquisition of this parcel advantageous for the CRA and future redevelopment opportunities. FISCAL IMPACT: $30,000 plus $2,000 closing cost allowance from approved FY 2016-2017 Budget, Line Item 02-58200-401 4 PLAN/PROJECT/PROGRAM: Redevelopment listrict area. 1. Approve the Sale and Purchase contract with Violet Real Estate, Inc. for the property located at NE 3'd Street in the amount of $30,000. 2. Do not approve the Sale and Purchase contract with Violet Real Estate, Inc. for the property located at NE 3rd Street. AW Gwy R. Nikofits, CFA Property Aopralser Pa I -County mQetch Location Address NE 3RD ST Municipality BOYNTON BEACH Parcel Control Number 08-43-45-21-18-000-1560 Subdivision ARDEN PARK ADD IN Official Records Book 27177 Page 484 Sale Date NOV-2014 Legal Description ARDEN PARK LT 156 Homestead Nemption ailis Owners Mng addres VIOLET REAL ESTATE INC 19495 BISCAYNE BLVD STE 606 MIAMI FL 33180 2321 Sales Date Price OR Book/Page Sale Type Owner NOV-2014 $950.432 2717710484 REP DEED VIOLET REAL ESTATE INC JAN -1969 $100 01712 /1522 EXECUTOR'S DEED No Exemption Information Available. Number of Units 0 *Total Square Feet 0 Acres 0.1728 Use Code 1000 - VACANT Zoning C2 - Neighborhood Commercial (08- COMMERCIAL BOYNTON BEACH) Tax Year 2016 2015 2014 Improvement Value $0 $o Land Value $45,174 $42,660 Total Market Value $45174 $42660 Tax Year Assessed Value Taxable Value Tax Year Ad Valorem Non Ad Valorem Totaltax 1 9 All values are as of January 1st each year 201 2015 $45,174 $42,660 $0 $o $45,174 $42,660 W $986 $o $986 ftn' I W I $o $42,238 $42,2381 $42,238 $0 $42,238.: 2014 $9561 $o $956 http:llwww.co.palm-beach.fl-uslpapalAspsIPropertyDetaillPropertyDetail.aspx?parcel=08... 11/21/2016 District Introduction Planning Challenges Planning Considerations The Vision Recommendations 11 !1111111111XII11111 III - - f a [0111 1111 The Heart of Boynton District is a, 380 -acre FEC rail line to the east. The area is within walkin:o V neighborhood developed predominantly wit distance of the Cultural and Downtown Districts. single-family homes. The neighborhood has several parks, two public schools and numerous churches. Unfortunately, it has been the victim of disinvestment over the last 50 years. The two Census blocks of Tract 61 which encompasses this Distdat have the median household income ofthe lowest in the City. To counter the decline of the neighborhood, in 2001 the CRA and City adopted the Heart of Boynton Community Redevelopment Plan. The Plan was updated in 2014 to reflect the achievements of the original plan and add new projects to reflect the current market conditions. A number of recommendations of the original CRA Plan have been implemented, including: • The demolition of the Cherry Hill public housing project The redevelopment of the Boynton Terrace site – Ocean Breeze West – into 21 single- family homes • Redevelopment of Wilson Park and into Carolyn Sims Community Center • Expansion of the Palmetto Greens Park • Redevelopment of Sara Sims Park – aster Plan created, property acquired • Streetscape Improvements on Seacrest Boulevard • Redevelopment of Martin Luther King, Jr. Boulevard – Property acquired and Family Dollar developed Development of new housing – 60 now single family homes developed In partnership with nonprofits, the City and CRA. A major arterial road—Seacrest Boulevard—runs through the neighborhood north/south. Martin Luther King, Jr. Boulevard, once lined with locally -owned businesses, runs east/west. There are two public elementary schools in the neighborhood, Poinciana and Galaxy. Both schools are STEM schools (Science, Technology, Engineering and Math). There are a number of parks and special use areas within the neighborhood, such as, Carolyn Sims Community Center, Galaxy Park and Scrub and Sara Sims Park. IM it ra i ♦i i GlKilwl ITO N # - . • • poorly maintainedhousing► - • City, in partnership with local non-profi11 non -pro continue to develop - -family, homes, b rental housing. - problem is that— median.. - more families can afford. This gap will has to be fill through some f '•.. ofa subsidy. Another major deterrent to private investment is the visible blight and crime. There are still a number of small convenience stores that allow loitering and illegal activities for all to see, discouraging people to buy homes or invest in businesses within the area. The District is comprised of small parcels platted in the 1920's – 1930's, during Florida's land boom. The parcels are owned by many different people making assembly of a developable site very difficult and expensive. Moreover, many owners have an unrealistic sense of the value of their property. Over the years, the neighborhood has lost most of their retailers and service providers. There is no full service grocery store and only one take- out restaurant. The majority of commercial use is represented by convenience stores. A new Family Dollar store at the comer of Martin Luther King, Jr. Boulevard and Seacrest Boulevard has been a welcome addition, but there is a need for more retail services. The neighborhood is bifurcated by a fou ul lane Seacrest Boulevard, which has on one signalized pedestrian crossing ev though there are two elementary schools the neighborhood. The width of the road a drive aisles encourage speeding throu the neighborhood; clearly, the road is not presently designed . - , . scale. Both Seacrest Boulevard and Martin Luther utilities,Boulevard have older, ill -maintained power poles with overhead ,, Ekflfljn��� Several factors were considered in determining the land use designations for the Heartpf��� A future commuter rail station for the planned Rail Coastal Link service, which will serve the South FloAds-nprp-tmRr" 's •,!2, Ax- Dkm,-� Xu R -f - f tr j!jmWjvg. ;kt N.E. 4th between Ocean Avenue and Boynton Beach Boulevard. To improve land development patterns in advance of station development, the City adopted a Downtown Transit Oriented Development District (DTO a Y2mile rac-'Lkw -?y*74 location. includinci a Dortion of the Heart of Bowrto-v T'tp development through a 25% density bonus. A second consideration is the Transportation Concurrency Exception Area (TCEA) which, in addition to the residential exception area applicable east of 1-95, exempts all development from the Palm Beach County traffic concurrency requirements thus allowing denser development. The Plan recommends increasing density within the area where the TCEA and TOD designations overlap. However, because this District is a low - scale neighborhood, no increase in height over 45' is recommended. Mistoric District. There are a significant number of historic cottages located along both sides of NE 3rd Avenue and the south side of NE 4th Avenue between N. Seacrest Boulevard and NE 1 st Street. In order to protect these cottages while allowing -;rd Avenue, the Plan recommends that: The historic cottages from the south side of NE 3rd Avenue be relocated to the vacant lots on the north side of NE 3rd Avenue. On completion of the relocations, a historic district, tentatively called Shepard Funk Addition Historic Cottage District, be created within the block enclosed by N. Seacrest Boulevard, NE 1st Street, NE 3rd Avenue, and NE 4th Avenue. M The Aeart of Boynton area will become a model neighborhood, with its unique character and history preserved. The visionl • the original . . architecture of • 11 II1 investing in housing and commercial uses, and connecting both through the pedestrian and vehicular - - ' - - - ,T• .r - -. •ar. Dil• The space for these enhancements may be obtained through either right-of-way dedications or casements. - enhancementsshouldinclude: Implement a Complete Streets program for Seacrest Boulevard and ML K Jr. Boulevard to accommodate bike lanes and bike racks, widening of sidewalks, decorative street lights, street • on -street on-streetparking. Marking of major intersections with materials such as pavers, paint, etc. • Enhanced median landscaping • Bus shelters (will be required as part of new construction) • Additional signalized pedestrian crossings (including mid -block) along Seacrest BoulevardAddition of canopy street trees • Creation of a Pedestrian Zone adjacent to the right-of-ways that is inviting, safe and includes: • Minimum 8' wide clear sidewalk 9: Decorative light poles at both the vehicular and pedestrian scales • Require installation of canopy trees that provide immediate shading at time of construction R Undergrounding of overhead utilities Creation of a greenway to connect the greenway proposed along NW 1 stAvenue, Sara Sims Park, and Wilson Park per the Connectivity Plan 4 Creation of an eco -trail to connect the existing scrub and linear parks per the Connectivity Plan Figure 62: MILK JR. Blvd. Street Section ELmom-mmdati The existing land use designations within the Heart of Boynton District are: * Low Density Residential — 5 units per acre (all of this land use designation is concentrated on the west side of Seacrest Boulevard. * Medium Density Residential — 10 units per acre (this land use designation is concentrated on the east side of Seacrest Boulevard) High Density Residential —11 units per acre (currently over the Ocean Breeze West development and along W. Seacrest from N.W. 8th to N.W. 9th) • Mixed -Use — 40 units per acre (this land use designation is placed on the CRA -owned Ocean Breeze East block and on CRA -owned property along MLK, Jr. Boulevard) Local Retail Commercial, General Commercial, Industrial, Recreational, and Public & Private Govern mental/institutional Below is a table of the proposed land use and zoning designations that will apply within the Federal Highway Corridor District: I FWA.*■1111in I RW2 ""I AM CORRESPCNDINIG; ZONING Mixed -Use Medium" High Deansciftyf m Residertisaj PUO ZAN W4 Figure 63: Recommended Land Use for the Heart of Baynton District Ecornrn nda i r . Urban Qc structuresThere are three architectural styles of historic Heart Vernacular, and Mediterranean Revival. When building in this District, new development shall attempt o utilize one of - - architectural styles. • A Historica•- District should be considered adjacent a the►• • .- ! - Commercialfeasible, historically contributing cottages in the area shall be relocated in the Historic Cottage District. • buildings fronting MILK Boulevard and/or- Boulevard shall maximize the Residential buildings fronting MLK Jr., Boulevard and/or Seacrest Boulevard shall be designed to have pedestrian access from the main road and have front door facing the main road. All buildings along MILK Jr., Boulevard and/or Seacrest Boulevard shall be set back to allow for a pedestrian zone. Approximately 75% of the lot frontage must be occupied by structure and be adjacent to the pedestrian zone. Buildings fronting MLK Jr., Boulevard shall be a maximum of two story and stepped back to continue to the maximum allowed height in the designated Zoning District. • Parking shall be located to the rear or side of the buildings • Curb cuts shall be permitted on Boynton Beach Blvd only when access is not possible from the rear or side. When adjacent to commercial uses, single-family areas shall be protected through the use of landscape buffers and/or walls as appropriate. MLK Commercial Multifamily Model Block — Sara iPark— Ocean Figure 64: Heart of Boynton Projects Cottage District- Historic Cottage District 11 e Let F and improvement of Sara Sims Park. The CRA has the G-rity hz� XreXaratiin fi.r the eventyal ex;PaAsiiA if the park. Staff will review the feasibility of converting a portion of Sara Sims Park Master Plan, along the western boundary, from Recreational Land Use to Single Family. This process shall include a public recommendation, and Clty Commision approval. 0=1111 The CRA owns 4.6 acres of vacant land east of Seacrest Boulevard between N.E. 6th and 7th Avenues. The CRA is seeking a private development partner to build a multi -family project on the site. WiF0771111CMMM The CRA owns approximately 6 acres on the blo between N.E. 4th and 5th i . The CR 's go. Avenue As k I 04MC11010 I Q I I ja III MON -1, I M I R 22 WsM Z -ii 7TM. Leveraging CRA -owned land and economic development grants, the CRA was able to bring a Family Dollar store to the Martin Luther King, Jr. Boulevard corridor in 2015. The CRA owns additional land on the corridor and continues to work with developers to attract new and needed neighborhood retail. 117,11-4,111 Utilizing CRA -owned land, the CRA is seeking to Boulevard corridor. The development may include commercial uses. H Figure 66: Ooean Breeze East .—One 11 Figure 68: Example of a Commercial Project on MILK Jr. Blvd. Ulf rigure OW: txample of multi Family Project on MLK Jr. Blvd. R This Purchase and Sale Agreement (hereinafter "Agreement') is made and entered into as of the Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part 111, of the Florida Statutes (hereinafter "PURCHASER") and VIOLET REAL EASTE, INC., a Florida Corporation (hereinafter "SELLER'). In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree as follows: 1. PURCHASE AND SALEIPROPERTY. SELLER agrees to sell and conv to PURCHASER and PURCHASER agrees to purchase and acquire fro SELLER, on the terms and conditions hereinafter set forth, the Prope located at NE V Street, Boynton Beach in Palm Beach County, Floal (the "Properties') and more particularly described as follows: rid Legal Description: ARDEN PARK LT 156 7,ror)e[N Control 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be Thirty Thousand Dollars ($30,000.00), payable in cash, by wire transfer of United States Dollars at the Closing. 3. DEPOSIT 3.1 Earnest Money Deposit. Within five (5) Business Days after the execution of the Purchase Agreement by both parties, PURCHASER shall deliver to Lewis, Longman & Walker, PA ("Escrow Agent') a deposit in the amount of One Thousand Dollars ($3,000.00) the "Deposir). 3.2 Application/Disburseme-nLof Deposit. The Deposit shall be applied znd disbursed as follows: The Deposit shall be delivered to SELLER at Closing and the PURCHASER shall receive credit for such amount against the Purchase Price. If this Agreement is terminated during the Feasibility Period (hereinafter defined) for any reason, the Deposit shall be immediately refunded to the PURCHASER. If this Agreement is terminated due to a default, pursuant to Section 12, the Deposit shall be delivered to (or retained by, as applicable) the non -defaulting Party, and the non -defaulting Party shall hav- .•• • additional rights, if any, as are provided in Section 12. 1;,.m I I I SIN LZI I N NOW E� I I a OTT waiwilAl BMW" agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to PURCHASER R1R Agreement ••• gross negligence. :s . Escrow Agent Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable attorney's fees and costs to be paid from the escrowed funds which are charged and awarded as court costs in favor of the revai liniii • i • • • 1 4. EFFECTIVE DATE. The effectivedate of the Purchase Agreement is the date that the Escrow Agent receives the Escrow Deposit and Escrow Agent executes the Agreement. 5. CLOSING. The purchase and sale transaction contemplated herein shall close on or before January 30, 2017 (the "Closing"), unless extended by other provisions of this Agreement or by written agreement, signed by both parties, extending the Closing. 6. TITLE TO BE CONVEYED. At Closing, SELLER shall convey to PURCHASER, by Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined), valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions except only the following (collectively, the "Permitted Exceptions"): (a) general real estate taxes and special assessments for the year of Closing and subsequent years not yet due and payable; (b) covenants, conditions, easements, dedications, rights-of-way and matters of record included on the Title Commitment or shown on the Survey (defined in Section 7), to which PURCHASER fails to object, or which PURCHASER agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof. 7. FEASIBILITY PERIOD. The PURCHASER, and its designees shall have three (3) days from the Effective Date of this Agreement ("Feasibility Period"), at PURCHASER's expense, to make inquiries to determine if the Property is suitable for its intended use and to enter upon the Property, at any time and from time to time with reasonable notice to SELLER and so long as said investigations do not result in a business interruption, to perform any and all physical tests, inspections, valuation appraisals and investigations of the Property, including but not limited to Phase I and Phase II investigations, which PURCHASER may deem necessary. During this Feasibility Period, PURCHASER may elect, in PURCHASER's sole and absolute discretion, to terminate this contract and receive back all deposits hereunder. If PURCHASER elects to terminate this Agreement in accordance with this Section, PURCHASER shall: (i) leave the Property in substantially the condition existing on the Effective Date, subject to such disturbance as was reasonably necessary or convenient in the testing and investigation of the Property; (ii) to the extent practicable, shall repair and restore any damage caused to the Property by PURCHASER's testing and investigation; and (iii) release to SELLER, at no cost, all reports and other work generated as a result of the PURCHASER's testing and investigation. PURCHASER hereby agrees to indemnify and hold SELLER harmless from and against all claims, and objections of the Parties With respect to objections arising from the Title Update shall be the same as objections to items appearing in the Title Commitment, subject to the provisions of this Section. 7.2. Survey Review, PURCHASER, at PURCHASER's expense, shall obtain a current boundary survey (the "Survey) of the Property, indicating the number of acres comprising the Property to the nearest 1/100th of an acre. If the Survey discloses encroachments on the Property or that improvements located thereon encroach on setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement, or applicable governmental regulations, the same shall constitute a title defect and shall be governed by the provisions of Section 7.1 concerning title objections. mcion�, "I "I �Ml I =1 11 SELLER shall deliver to PURCHASER the following documents and instruments within five (5) days of the Effective Date of this Agreement, except as specifically indicated: Copies of any reports or studies (including engineering, environmental, soil borings, and other physical inspection reports), in SELLER's possession or control with respect to the physical condition or operation of the Property; if any. Copies of all licenses, variances, waivers, permits (including but not limited to all surface water management permits, wetland resource permits, consumptive use permits and environmental resource permits), authorizations, and approvals required by law or by any governmental or private authority having jurisdiction over the Propert)4 or any portion thereof (the "Governmental Approvals"), which are material to the use or operation of the Property, if any. 7.3.3 Prior to the Closing Date, SELLER shall execute and deliver to PURCHASER any and all documents and instruments required by PURCHASER, in PURCHASER's sole and absolute discretion, which: (i) effectuate the transfer to PURCHASER of those Governmental Approvals, or portions thereof which are applicable to the Property, that PURCHASER desires to have assigned to it, and/or (ii) cause the Property to be withdrawn from any Governmental Approvals. No later than th* (30) days prior to the Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the Governmental Approvals (including, but not limited to, any and all portions of the surface water management system, mitigation areas or other items which do not comply with the Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at the time of Closing, any unrecorded instruments affecting the title to the Property, including, but not limited to any conveyances, easements, licenses or leases. 8. CONDITIONS TO CLOSING. PURCHASER shall not be obligated to close on the purchase of the Property unless each of the following conditions I1 Page 5 of 17 (collectively, the "Conditions to Closing') are either fulfilled or waived by PURCHASER in writing: 8.1. Representations and Warranties. All of the representations and warranties of SELLER contained in this Agreement shall be true and correct as of Closing. 8.2. Condition of Property. The physical condition of the Property shall be the same on the date of Closing as on the Effective Date, reasonable wear and tear txcepted. 8.3. Pendiag Proceedings. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever, pending or threatened, which has not been disclosed, prior to closing, and accepted by PURCHASER. 8.4. Compliance with Laws and Regu6tions The Property shall be in compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of Closing. 8.5. Occupancy, The property shall be conveyed to the PURCHASER at time of closing unoccupied. 9. CLOSING DOCUMENTS. The PURCHASER shall prepare, or cause t3l be prepared, the Closing Documents set forth in this Section, except for documents prepared by the SELLER'S Title Company. At Closing, SELLER shall execute and teliver, or cause to be executed and delivered to PURCHASER the following iocuments and instruments: 9.1. Deed, A Warranty Deed (the "Deed') conveying to PURCHASER valid, good, marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances and other conditions of title other than the Permitted Exceptions. 9.2 Seller's Affidavits., SELLER shall furnish to PURCHASER an owner's affidavit attesting that, to the best of its knowledge, no individual or entity has any claim against the Property under the applicable construction lien law; and that there are no parties in possession of the Property other than SELLER. SELLER shall also furnish to PURCHASER a non -foreign affidavit with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced above, the same shall be deemed im uncured title objection. 9.3. Closing Statement. A closing statement setting forth the Purchasd. Price, the Deposit, all credits, adjustments and prorations. between PURCHASER and 00713-40=1 SELLER, all costs and expenses to be paid at Closing, and the net proceeds due SELLER, which PURCHASER shall also execute and deliver at Closing. 9.4. Corrective Documents. Documentation required to clear title to the Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions. 9.5. Additional Documents. Such other documents as PURCHASER or the Title Company may reasonably request that SELLER execute and deliver, and any other documents required by this Agreement or reasonably necessary in order to close this transaction and effectuate the terms of this Agreement. 10.1. Prorations. Assessments, rents, interest, insurance and other expenses of the Property shall be prorated through the day before Closing. PURCHASER shall have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may be required by prorations to be made through the day prior to Closing. Advance rent and securi'ty deposits, if any, will be credited to PURCHASER. Taxes shall be prorated based upon the current year's tax with due allowance made for maximum allowable discou-it. 10.2 Ad Valorem Taxes. PURCHASER and SELLER shall comply with Section 3.96.295, Florida Statutes, with respect to the payment of prorated ad valorem tR xes for the year of closing into escrow with the Palm Beach County Tax Collector's Office. In the event that, following the Closing, the actual amount of assessed real property tax on the Property for the current year is higher than any estimate of such tax used for purposes of the Closing, the parties shall re -prorate any amounts paid or credited based on such estimate as if paid in November. This shall survive the Closing. 10-3. Special Assessment Liens, Certified, confirmed and ratified special assessment liens imposed by public bodies as of Closing are to be paid by SELLER. Pending liens as of Closing shall be assumed by PURCHASER. If the improvement has been substantially completed as of the Effective Date, any pending lien shall be considered certified, confirmed or ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or assessment for the improvement by the public body. 10.4. Closing Costs, PURCHASER shall be responsible for aJI documentary stamps on the deed, recording the deed and half of all general closing expenses (settlement fee, courier fees, overnight package, etc.). SELLER is responsible for half of all general closing expenses and their own legal fees. All other costs of closing shall be borne by PURCHASER. I , ■ ET11F M MEMNE-W-11 i Page 7 of 17 subject to the credits, offsets and prorations set forth herein. SELLER and PURCHASER (as applicable) shall execute and deliver to Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i) disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marked -up" Title Commitment to PURCHASER, and promptly thereafter, record the Deed and other recordable Closing Documents in the appropriate public records. 10.6 Exustina Mortgages and Other Liens. At Closing, SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments applicable to and encumbering the Property. 11. REPRESENTATIONS. COVENANTS AND WARRANTIES. To induce PURCHASER to enter into this Agreement, SELLER makes the following representations, all of which, to the best of its knowledge, in all material respects and except as otherwise provided in this Agreement (i) are now true, and (ii) shall be true as of the date of the Closing unless SELLER receives information to the contrary, and (iii) shall survive the Closing. In that event, PURCHASER shall be provided immediate notice as to the change to the following representations: 11.1 At all times from the Effective Date until prior to Closing, SELLER )y or on behalf of SELLER prior to the Closing, and SELLER shall indemnify; defend and hold PURCHASER harmless from and against all expense and liability in connection therewith (including, without limitation, court costs and reasonable attorney's fees). 11.2 SELLER has no actual knowledge nor has SELLER received any notice of any litigation, claim, action or proceeding, actual or threatened, against SELLER or the Property by any organization, person, individual or governmental agency which would affect (as to any threatened litigation, claim, action or proceeding, in a materially would otherwise relate to the Property. 11.3 SELLER has full power and authority to enter into this Agreement and to assume and perform its obligations hereunder in this Agreement. SELLER does not and will not conflict with or result in the breach of any condition or provision, or constitute a default under, or result in the creation or imposition of any lien, charge, or encumbrance upon any of the Property or assets of the SELLER by reason of the terms of any contract, mortgage, lien, lease, agreement, indenture, instrument or judgment to which the SELLER is a party of which is or purports to be binding upon the SELLER or which affects the SELLER; no action by any federal, state or municipal or other governmental department, commission, board, bureau or instrumentality is necessary to make this Agreement a valid instrument binding upon the SELLER in accordance with its terms. 11.4 SELLER represents that SELLER will not, between the date of this Agreement and the Closing, without PURCHASER'S prior written consent, which consent shall not be unreasonably withheld or delayed, except in the ordinary course of business, create any encumbrances on the Property. For purposes of this provision the term "encumbrances" shall mean any liens, claims, options, or other encumbrances, encroachments, rightsofWay, leases, easements, covenants, conditions or restrictions. Additionally, SELLER represents that SELLER will not, between the date of this te or u!pIeriAly, a-ffjffiY,fx Opt 9,7W reement, and the ClosW take & actign JR leini-rp-- M01 1611-111 W11 1 r� I In 1 101GONA 0 111 IrWZKII art I I T.ir 11.5 SELLER represents that there are no parties other than SELLER in possession of the Property or any portion of the Property as a lessee. 11.6 SELLER shall not list or offer the Property for sale or solicit or negotiate offers to purchase the Property while this Agreement is in effect. SELLER shall use its best efforts to maintain the Property in its present condition so as to ensure that it shall remain substantially in the same condition from the conclusion of the Feasibility Period to the Closing Date. 11.7 SELLER has no actual knowledge nor has SELLER received any notice of any litigation, claim, action or proceeding, actual or threatened, against SELLER or the Property by any organization, person, individual or governmental agency which would affect (as to any threatened litigation, claim, action or proceeding, in a materially adverse fashion) the use, occupancy or value of the Property or any part thereof or which would otherWse relate to the Property. 11.8 SELLER represents that it has no actual knowledge nor has h received any notice that the Property has been, is presently or is contemplated to be utilized as a reservoir of hazardous material. As used herein, the term "Hazardous Material" shall mean any substance, water or material which has been determined by any state, federal or local government authority to be capable of posing a risk of injury to health, safety and property, including, but not limited to, all of those materials, wastes and substances designated as hazardous or toxic by the U.S. Environmental Protection Agency, the U.S. Department of Labor, the U.S. Department of Transportation, and/or any other state or local governmental agency now or hereafter authorized to regulate materials and substances in the environment (collectively "Governmental Authority(ies)"). 11.9 SELLER represents to PURCHASER that the Property is no! subject to any deed restrictions or declaration of restrictions running with the Property which would affect the use of the Property except those constituting Permitted Exceptions as defined above. .1 Page 9 of 17 11.10 Between the date of this Agreement and the date of closing, SELLER will not file any application for a change of the present zoning classification of the Property� 11.11 Authority. The execution and delivery of this Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER in accordance with its terms. The person executing this Agreement on behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this Agreement represents a valid and binding obligation of SELLER. 11.12 Title. SELLER is and will be on the Closing Date, the owner of valid, good, marketable and insurable fee simple title to the Propert�6 free and clear of all liens, encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances of record which will be discharged at Closing). 11.13 Additional Warranties and Representations of SELLER. As a material inducement to PURCHASER entering into this Agreement, SELLER, to the best of SELLER'S information and belief, hereby represents and warrants the following: 11.13.1 There are no pending applications, permits, petitions, contracts, approvals, or other proceedings with any governmental or quasi -governmental authorit�6 including but not limited to, PURCHASER, municipalities, counties, districts, utilities, and/or federal or state agencies, concerning the use or operation of, or title to the Property or any portion thereof and SELLER has not granted or is not obligated to grant any interest in the Property to any of the foregoing entities. 11.13.2 There are no facts believed by SELLER to be material to the use, condition and operation of the Property in the manner that it has been used or operated, which it has not disclosed to PURCHASER herein, including but not limited to unrecorded instruments or defects in the condition of the Property which will impair the use or operation of the Property in any manner. 11.13.3 To the best of SELLER'S knowledge, the Property and the use and operation thereof are in compliance with all applicable county and governmental laws, ordinances, regulations, licenses, permits and authorizations, including, without limitation, applicable zoning and environmental laws and regulations. 3.2. QEFAUJ-J 12.1. PURCHASER's Default, in the event that this transaction fails to close due to a wrongful refusal to close or default on the part of PURCHASER, subject to the provisions of Paragraph 12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow Agent to SELLER as agreed liquidated damages and, thereafter, neither PURCHASER nor SELLER shall have any further obligation or liabilities under this Agreement, except for those expressly provided to survive the termination of this Agreement; provided, however, that PURCHASER shall also be responsible for the removal of any liens asserted against the Property by persons claiming by, through or under PURCHASER, but not otherwise. PURCHASER and SELLER acknowledge that if PURCHASER defaults, SELLER will suffer damages in an amount which cannot be ascertained with reasonable certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent most closely approximates the amount necessary to compensate SELLER. PURCHASER and SELLER agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture provision. 12.2. Seller's Default, In the event that SELLER shall fail to fully and timely perform any of its obligations or covenants hereunder or if any of SELLER'S representations are untrue or inaccurate, then, notwith stand! n g anything to the contrary contained in this Agreement, PURCHASER may, at its option: (1) declare SELLER in default under this Agreement by notice delivered to SELLER, in which event PURCHASER may terminate this Agreement and demand that the Deposit be returned, including all interest thereon if any, in accordance with Section 3 and neither Party shall have any further rights hereunder, or (2) seek specific performance of this Agreement, without waiving any action for damages. Notice of Default. Prior to declaring a default and exercising the remedies described herein, the non -defaulting Party shall issue a notice of default to the defaulting Party describing the event or condition of default in sufficient detail to enable a reasonable person to determine the action necessary to cure the default. The defaulting Party shall have fifteen (15) days from delivery of the notice during which to cure the default, provided, however, that as to a failure to close, the cure period shall only be three (3) business days from the delivery of notice. Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld. If the default has not been cured within the aforesaid period, the non -defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions of this section shall survive the termination &f this Agreement. 13. NOTICES. All notices required in this Agreement must be in writing and shall be considered delivered when received by certified mail, return receipt requested, or personal delivery to the following addresses: If to Seller: Richard Paz, manager of Violet Capital LLC 19495 Biscayne Blvd #606, Aventura, FL 33180 If to Purchaser Michael Simon, Interim Director Boynton Beach Community Redevelopment Agency 710 N. Federal Highway Boynton Beach, FL 33435 10 a 'I '1 0 1 1 a lop ong With a copy to: Kenneth Dodge Lewis, Longman &Walker, PA 515 North Flagler Drive Suite 1500 West Palm Beach, FL 33401 15. BROKER FEES. The SELLER and PURCHASER hereby state that they have D-Ql-dealt with a real estate broker in connection with the transaction contemplated by this Agreement and are not liable for a sales commission. SELLER shall indemnify, defend and hold harmless the PURCHASER from and against any and all claims, losses, damages, costs or expenses (including, without limitation, attorney's fees) of any kind or character arising out of or resulting from any agreement, arrangement or understanding alleged to have been made by SELLER on its behalf with any broker or finder in connection with this Agreement. The provisions of this Section shall survive Closing or termination of this Agreement. 0 — I . . # . - s M .0 IL . - . I ! a I (1) That SELLER and occupants of the Property have obtained and are in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or contiguous property owned by SELLER, to the best of SELLER'S knowledge. (2) SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the Property. SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices on contiguous property that is owned bW SELLER which matyoh W)T�Wtj demand, cost or action relating to the Disposal of any Pollutant affecting the SELLER'S property. (3) There is no civil, criminal or administrative action, suit, claim, demand, investigation or notice of violation pending or, to the best of that entity's knowledge, threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the Property, any portion thereof, or on any contiguous property owned by SELLER. 3-7. PUBLIC RECORDS, PURCHASER is a public agency subject to Chapter 119, Florida Statutes. The SELLER is hereby notified that the PURCHASER is required by law, pursuant to Chapter 119, to maintain and disclose upon request all records deemed public under the statute including this Agreement and some or all of the documents necessary to consummate the transaction set forth herein. To the extent that any litigation should be instituted by SELLER, either directly or as a third party, to prevent or prohibit PURCHASER from disclosing or providing documents involving this Agreement or the transaction set forth in the Agreement pursuant to a public records request submitted under Chapter 119, SELLER agrees that PURCHASER may either: 1) defend the claim up to and including final judgment, or 2) interplead the challenged documents into the court. In either event, SELLER agrees to pay PURCHASER's reasonable attorneys'fees and costs, both trial and appellate. OR�lx 1-:4141 1011M M, General, This Agreement, and any amendment hereto, may ba. executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall, together, constitute one and the same instrument. The section and paragraph headings herein contained are for the purposes of identification only and shall not be considered in construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire Section, unless otherwise specified. No modification or amendment of this Agreement shall be of any force or effect unless in writing executed by the Parties. This Agreement sets forth the entire agreement between the Parties relating to the Property and all subject matter herein and supersedes all prior and contemporaneous negotons, understandings and agreements, written or oral, between the Parties. This Agreement shall be interpreted in accordance with the laws of the State of Florida. The Parties hereby agree that (urisdiction of an litigotlokw 9 1 F,- --g-,• i i IMMILVE �9, �91 M Purchase and Sale Agreemen Page 13 of 17 i tie limited to federal jurisdiction only, in the United States District Court for the Southern Vistrict of Florida. 91� VIWUN MO a Cox i !IVITAM11160w I 18.9 Bonding Authori . Each party hereby represents and warrants to tX,e ttXer tX?t e,?-cX gerstA execyti SELLER has full right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 18.10 Recording. This Agreement may be recorded in the Public Records of Palm Beach County, Florida. 18.11 Survival. The covenants, warranties, representations, indemniti and undertakings of SELLER set forth in this Agreement, shall survive the Closing, t delivery and recording of the SELLER'S Property Deed and PURCHASER's possessi of the Property. I ji- IN WITNESS WHEREOF, the Parties have executed this Agreement as of thz Effective date. 1913�, �2105 BOYNTON BEACH COMMUNITY VIOLET REAL ESTATE, INC. REDEVELOPMENT AGENCY - - -------------------- Printed Name. Printed RICHARD PAZ Name: FOM Mff 09*� Printed Name. Printed Name, ",'urchase and Sale Agreement v7age 15 of 17 Lewis, Longman &Walker, P.A. Printed Naue: I :*,Vl M I I --I i 7 -0 ----------------- ----------------- on AW,, NIE 3RD ST Mmkkwft BOYNTON BEACH ftmW CORM Murnbeir 01-43-45-21-18-000-1560 SubdMslon ARDEN PARK ADD IN Offidal Records Book 273.77 fto 414 Sale Dma WV -2014 Lagal Descriptim ARDEN F= LT IN 6W nFILVZD SM — VIOLEr REAL MATE INC 19495 adrATA MIAMI FL 33180 2321 millas 1310 Frkm ORIowftp Sda Type NOV-2014 $950,432 27177 / 00484 REP DEED "-1969 $100 01712 /01522 EKECUTORIS DEED No Bmmpdon Ifffarmalan Amdhhb. IN J lv i 1► I I Consent Agenda I I Old Business 1X1 New Business I I Legal I I Information Only I 19-111 h 14 � J Audited Financial Statements — FY 20152016, Fiscal Year Ended September 30, 2016 SUMMARY: Attached is a copy of the Boynton Beach CRA's audited financial statements for Fiscal Year 2015-2016 as well as the auditor's report to the CRA Board. The objective of the annual financial statement audit is to assure that the statements are fairly presented in accordance with generally accepted accounting principles and governmental accounting standards and in compliance with laws and regulations. The auditors examine the agency's records to obtain reasonable assurance that the financial statements are free from any material misstatements. An example of the types of documents the auditors review and test are: general ledger transactions; bond or loan issuance or refundings; journal entries; adopted budget and budget amendments; operational, administrative, human resource and financial policies and procedures; personnel records; payroll records; Board minutes; contracts and contract compliance including real estate closings. The audited financial statements and report show: • Clean opinion from auditors • No internal control deficiencies — 8t" consecutive year • No audit findings of noncompliance issues — 8t" consecutive year • No audit adjustments — 8 t consecutive year • Strong balance sheet with net position of $18.35 million. • Cash position remains strong at $11.7 million in all funds with sufficient fund balance for working capital and ongoing project funding. [-ley:1 r + BOARD MOTION/OPTIONS: O a- audited -• - Fiscal Year ending Sept30, ember!. Di - r ERMI'ED Pig#Ss.G,"`. sa.�:t;.OUN'FANTS 8..CON'SWANT5 5805 BlUe UgWn Drive I .3. ( 269-B633 I Fam ( a ° j December 13, 2016 Management and Board Members Boynton Beach Community Redevelopment Agency 710 North Federal Highway Boynton Beach, Florida 33435 Dear Management and Board Members: We are pleased to present the results of our audit of the basic financial statements of the Boynton Beach Community Redevelopment Agency (the Agency) for the year ended September 30, 2016. This report summarizes our audit, the scope of our engagement, and key observations and findings from our audit procedures for the year ended September 30, 2016. This report also contains the communications required by our professional standards and by Government Auditing Standards. The audit was designed to express an opinion on the Agency's 2016 basic financial statements. In accordance with professional standards, we obtained a sufficient understanding of internal control to plan the audit and to determine the nature, timing, and extent of tests to be performed. However, we were not engaged to and we did not perform an audit of internal control over financial reporting. This report is intended solely for the information and use of those charged with governance of the Agency, and is not intended to be and should not be used by anyone other than these specified parties. We appreciate this opportunity to meet with you to discuss the contents of this report, and to answer any questions that you may have about this report or any other audit -related matters. If you have any questions, please contact Richie C. Tandoc, Partner in charge of the audit, at (305) 269-8633, ext. 8016. Very truly yours, )""* 4�(k t""4;XA �$ Y Generally Accepted Auditing Standards and Government Auditing Standards require the auditor to communicate certain matters to those charged with governance that may assist in overseeing management's financial reporting and disclosure process. Below is a summary of these required communications, and our response to each, as they apply to the Agency as of and for the fiscal year ended September 30, 2016. Required Communication Response Auditors' Responsibilities Under Generally Accepted Auditing Standards (GAAS) and Government Auditing Standards (GAS) Our responsibility is to express opinions on the Agency's We have issued an unmodified opinion (i.e. a clean opinion) financial statements based on our audit conducted in accordance on the Agency's basic financial statements for the year ended with auditing standards generally accepted in the United States September 30, 2016. and Government Auditing Standardy. Those standards require that we plan and perform the audit to obtain reasonable We have also issued our report on the Agency's internal assurance about whether the financial statements are free of control over financial reporting and on compliance and other material misstatement. matters for the year ended September 30, 2016. We noted no material weaknesses or material noncompliance issues. In addition, we are required to report on the Agency's internal control over financial reporting and on compliance and other Both reports were dated December 13, 2016. matters. However, providing assurance 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 express such opinions. Significant Accounting Policies Initial selection of and changes in significant accounting The Agency's significant accounting policies are described in policies or their application and now accounting and reporting Note I to the financial statements. standards during the year must be reported. Accounting principles selected by management are consistent In addition, we must discuss our judgments about the quality, with those prescribed by government accounting standards, not just the acceptability, of the accounting policies as applied and the Agency's financial statements and related disclosures in the Agency's financial rep2qi2&.- are clearly presented in a complete manner. Accounting Estimates The preparation of the financial statements requires the use of For fiscal year ended September 30, 2016, management's accounting estimates. We are 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 are the reasonableness of those estimates. reasonable. Methods of Accounting for Significant Unusual Transactions and for Controversial or Emerging as We are required to inform those charged with governance about We did not identify any significant unusual transactions by the methods used to account for significant unusual transactions the Agency or any significant amounting policies used by the and the effects of significant accounting policies in Agency related to controversial or emerging areas for which controversial or emerging areas for which there is a lack of them is a lack of authoritative guidance. authoritative guidance or consensus. Significant and/or Unadjusted Audit Adjustments We are required to inform those charged with govemance about We did not identify any material audit adjustments during our auditor adjustments arising from the audit (whether recorded or audit of the financial statements as of and for the fiscal year not) that could, in our judgment, have a significant effect, ended September 30, 2016. individually or in the aggregate, on the Agency's financial statements. Required Communication Response Fraud and Illegal Acts We are required to infonn those charged with governance about � We are not aware of any fraud or illegal acts that occurred any and all fraud and illegal acts involving senior management during the fiscal year involving senior management, or any and any fraud and illegal acts (whether caused by management fraud or illegal acts involving any employee that would cause or other employees) that cause a material misstatement of a material misstatement of the financial statements. financial resources. Disagreements or Difficulties with Management We are required to inform those charged with governance about We did not encounter any significant disagreements or any significant disagreements or difficulties encountered with difficulties with management during the course of the audit. mann meet. Major Issues Discussed with Management Prior to Retention We are required to inform those charged with governance about I We did not 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 to communicate with those charged with 1. There are no relationships between us and the Agency governance, at least annually, the following: and its related entities that, in our professional judgment, may reasonably be thought to impede our independence. 1. Disclose, in writing, all relationships between us and the 2. With regards to our audit of the Agency as of September Agency and its related entities that, in our professional 30, 2016, we are independent with respect to the judgment, 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 judgment, we Professional Conduct, its interpretations and rulings, and are independent of the Agency in accordance with Government Auditing Standards. generally accepted auditing standards and Government 3. We have not performed any non -audit services for the Auditing Standards; and Agency during the fiscal year ended September 30, 3. Disclose any non -audit services performed for the AgencV. 2016, or thereafter. Management Letter We are required to issue a management letter responding to We have issued a management letter in accordance with the certain requirements in accordance with the Rules of the Auditor Rules of the Auditor General of the State of Florida, dated General of the State of Florida. December 13, 2016. Management Representations We are required to communicate with those charged with We requested certain representations from management that governance about representations requested from management, are included in the management representation letter dated December 13, 2016. BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Floridl Basic Financial Statements September 30, 2016 (With Independent Auditor's Report Thereon) Table of Contents _ Pa e FINANCIALCTI Independent Auditor's Report Management's Discussion and Analysis (Required Supplementary Information) 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 — Governmental Funds to the Statement of Net Position 12 Statement of Revenues, Expenditures and Changes in Fund Balances — Governmental ]Funds 13 Reconciliation of Revenues, Expenditures and Changes in Fund Balances — Governmental Funds to the Statement of Activities 14 Notes to the Basic Financial Statements 15 Required Supplementary Information: Budgetary Comparison Schedule (Unaudited) - General Fund 2 Notes to the Budgetary Comparison Schedule 25 WO17)19 If/\► Independent Auditor's 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 26 Management Letter m Accordance with the Rules of the Auditor General of the State of Florida 28 r, r, "'I�i Independent Auditor's Report To the Board of Commissioners Boynton Beach Community Redevelopment Agency: Report on the Financial Statements We have audited the accompanying basic financial statements of the governmental activities and each major fund 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, 2016, and the related notes to the financial statements, which collectively comprise the Agency's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted ih the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express opinions on these financial statements based on our 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 Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures 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 assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the Agency as of September 30, 2016, and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and budgetary comparison information on pages 3 through 8 and 24 through 25 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures io the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 13, 2016 on our consideration of the Agency's internal control over financial reporting and our tests of its compliance with certain provisions 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 internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Agency's internal control over financial reporting. Miami, Florida December 13, 2016 19 I T Floirmll I -I I, it IJ 1# a 1 � 1 10 ■ i a1 IN Management's Discussion and Analysis - Unaudited September 30, 2016 The Management's Discussion and Analysis (MD&A) of the Boynton Beach Community Redevelopment Agency (the "Agency") is designed to provide an objective and easy to read analysis of the financial activities based on currently known facts, decisions, and conditions. The MD&A provides a broad overview, short-term and long -terra 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 the approved budget. The Agency is an independent agency and a component unit of the City of Boynton Beach, Florida ("City"). The Agency has presented its financial statements in accordance with the reporting model required by Governmental Accounting Standards Board Statement No. 34, Basic Financial Statements and Management's Discussion and Analysis for State and Local Governments. The information contained in this MD&A is only a component of the entire financial statement report. Readers should take time to read and evaluate all sections of the report, including the footnotes and required supplementary information provided. The Agency's tax increment revenues increased by 15.2% or $1.3 million to $9.6 million approximately during the fiscal year. This resulted primarily from increased property values by 10.5% within the CRA district from residential, multi -family, condominiums and commercial properties. The Agency began the fiscal year with a net position balance of approximately $16.5 million. The Agency's total revenues for the year ended September 30, 2016 were approximately $11.4 million, while total expenses were approximately $9.5 million, increasing net position by approximately $1.9 million. During 2016, the CRA Plan underwent a comprehensive update to provide a clear and consistent vision for the CRA District and therefore predictability for new development and investment in the area. The updated CRA Plan is organized into six districts, identified according to their character, history, location and land use make-up; the industrial Craft District, the Heart of Boynton District, the Cultural District, the Boynton Beach Boulevard District, the Downtown District and the Federal Highway District. Each district plan reflects a unique vision based on its role in the CRA. The 2016 Boynton Beach Community Redevelopment Plan will guide the community through the redevelopment of the CRA District for another twenty years. Marina redevelopment, a multi-year project, continues with the final phase of Marina redevelopment, the Marina Open Space project, to provide a more expansive view of the marina businesses and waterfront and provide a safer environment for pedestrian and automobile traffic. The Marina Open Space project is on schedule for completion in January 2017. Downtown development is robust with construction underway 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 projects. In the 2016-2017 budget years, the CRA in cooperation with the City of Boynton Beach Police Department, continues the Community Policing Initiative in the Heart of Boynton. The goal of the program is to address crime holistically within the Heart of Boynton by promoting an atmosphere that emphasizes a sense of caring and community investment. Safety will be enhanced through the cultivation of personal relationships between police personnel assigned to the neighborhood on foot and bike patrols. (A Component Unit of the City of Boynton Beach, Florida) September 30, 2016 Additional public parking on land owned by the City of Boynton Beach at NE 4''' Street, in close proximity to the downtown core, has been completed in April 2016 and provides an additional 21 spaces to accommodate business activity and provide for event parking. Attendance at CRA events has continued to increase providing a surge in local business and vendor sales. The Heart of Boynton redevelopment efforts continue with the Ocean Breeze East parcel and Martin Luther King, 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 -sale single-family homes, constructing strectscape, installing new utilities and extending N.W. l I' Avenue from Seacrest to N.W. I" Street. As of the end of 2016, four homes have been constructed and sold and key acquisitions made. The first new retail store in over forty years on Martin Luther King, Jr. Boulevard, Family Dollar, represents a new beginning for this historic corridor. The 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 completion of Entry Signage project at north and south Federal Highway enhancing the existing entrance signage to create a sense of arrival, pride, brand and welcome. The project scope was expanded for the north Federal Highway sign to include additional landscaping to enhance the sense of arrival into the City. The Town Square Project encompasses 16.5 City -owned acres within the redevelopment area of downtown Boynton Beach. Funds were allocated in the last two fiscal years for urban design conceptual drawings on the look and fimctioning of this area. During 2017 planning will continue on the comprehensive redevelopment of the Town. Square area. Economic development programs targeted to existing and new businesses within the CRA district continue to be successful. A total of 32 grant awards were made and approximately $426 thousand was disbursed during the fiscal year to businesses for facade improvements, interior renovations, construction incentives and rent subsidies. The Agency's basic financial statements are comprised of the 1) government -wide financial statements, 2) fund financial statements, and 3) notes to the basic financial statements. This report also contains required supplementary information in addition to the basic financial statements themselves. 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 private -sector business. In addition, the governmcnt wide statements are prepared using the accrual basis of accounting. The Statement of Net position (balance sheet) presents information on the Agency's assets and liabilities, with the difference between the two reported as net position. The Statement of Activities (income statement) presents information showing how the Agency's net position changed during the most recent fiscal year. 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 are reported in this statement for some items that will only result in cash flows in future fiscal periods. E (A Component Unit of the City of Boynton Beach, Florida) September 30, 2016 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 include general government activities, public safety and redevelopment projects. Thus, the Agency has no business - type activities. The government -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 each fund and its related function in a traditional format. A fund is a grouping of related accounts that maintain control over resources that are segregated for specific activities or objectives. The Agency, like other state and local governments, uses fund accounting to ensure and demonstrate legal compliance with finance -related legal requirements. The Agency utilizes three funds for the fiscal year ending September 30, 2016, the General Fund, which is a governmental fund, 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 are spent. Governmental funds. Governmental funds are 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-term 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 government's near-term financing requirements. The focus of governmental funds is narrower than government -wide financial statements, and it is therefore useful to compare the information 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 Sheet — Governmental Funds" and "Statement of Revenues, Expenditures, and Change in Fund Balance — Governmental Funds" are reconciled as shown on the "Reconciliation of the Balance Sheet — Governmental Fund to the Statement of Net 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 governmental funds and governmental activities. The Agency adopts an annual appropriated budget for its General Fund. A budgetary comparison schedule provided for the General Fund demonstrates compliance with this budget. The basic governmental funds financial statements can be found beginning on page 11 of this report. The reconciliations between the governmental funds and governmental activities are found on pages 12 and 14. Notes to the Basic Financial Statements The notes provide additional information that is essential to a fiill understanding of the data provided in the government -wide and the fund 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 year. The required supplementary information can be found on page 24 and 25 of this report. JUMON11551MIRIIIIi 0TWORMI =7 Zma=,rlm- myl M11 MMMA�� September 30, 2016 As noted earlier, net position may serve over time as a useful indicator of a government's financial position. In the case of the Agency, assets exceeded liabilities by approximately $18.35 million at the close of the most recent fiscal year. However, the largest portion of the Agency's total assets, 67%, is reflected in its capital assets. Summary of Net Position Assets Current and other assets Capital assets Total assets Deferred outflows of resources Liabilities Current liabilities Long term liabilities Total liabilities Net position Invested in capital assets, net of related debt Restricted for: Capital projects Debt service Unrestricted Total net position The Agency has restricted assets for various capital projects. Governmental Activities September 30, 2016 2015 11,811,586 $ 9,523,338 24,415,044 26,182,135 36,226,630 35,705,473 1,197,519 1,317,271 1,860,698 1,720,889 17,212,502 18,819,016 19,073,200 20,539,905 6,099,522 5,848,631 6,776,250 5,465,780 72,205 66,231 5,403,972 5,102,197 $ 18,350,949 $ 16,482,839 Governmental activities increased the Agency's net position by approximately $1.86 million. Key elements of this increase are detailed as follows: 9 -TOT -l". I Program Revenues Charges for services General Revenues Tax increment revenues Other revenues Total revenues Summary of Changes in Net Position Year Ended September 30, 2016 2015 1,084,258 $ 1,256,824 9,585,902 8,317,868 125,095 43,597 10,795,255 9,618,289 to] N I or-3LUJIrms U4�2alrote No rj September 30, 2016 i i ITi s im[ �. Z �1 I t� Expenses General government Redevelopment projects Interest on long-term debt Loss on write off and sale of capital assets Total expenses Change in net position Net position beginning of year Net position end of year Year Ended September 30, 2016 201 2,814,692 2,894,096 3,113,380 1,901,500 680,415 695,516 2,318,658 1,439,836 8,927,145 6,930,948 1,868,110 2,687,341 16,482,839 13,795,498 $ 18,350,949 $ 16,482,839 Tax increment revenues increased by approximately $1.26 million during fiscal year 2016, the result of increased taxable values. Year-to-year expenses increased by approximately $2 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. The focus of the Agency's governmental funds is to provide information on near-term inflows, 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 useful measure of a government's net resources available for spending at the end of the fiscal year. At the end of fiscal year 2016, the Agency's governmental funds reported an ending fund balance of approximately $11.5 million, of which approximately $83.9 thousand is nonspendable, $3.49 million is committed, $7.15 million is assigned and $839 thousand is unassigned funds. In fiscal year 2015-2016, actual total revenues were favorable over budgetary estimates by approximately $276 thousand, and actual total expenditures were favorable over budgetary estimates by $603 thousand. Refer to page 24 for budgetary comparison schedule. During the year ended September 30, 2016, the Agency acquired approximately $1.27 million in capital assets. This includes properties acquired of approximately $1.04 million targeted for redevelopment as outlined in the updated 2016 Boynton Beach Community Redevelopment Plan, and construction in progress projects of approximately $196 thousand are primarily the result of the Marina Open Space, Cottage District and MIX South. W/ Component" of BoyntonBeach, Management's Discussion and Analysis - Unaudited September 30, 2016 At the end of fiscal year 2016, the Agency has total bond debt outstanding of approximately $18.74 million. Of this amount, approximately $14.10 million represents the 2012 refunding Revenue Bonds and $4.64 million represents the 2015 Revenue Bonds. The loan payable totaling approximately $291 thousand was paid in full during the year. Assessed property valuations within the community redevelopment district increased approximately 8.2% versus prior year resulting in an increase in tax increment revenues of $777 thousand, net of estimated adjustments for tax roll certifications. The Agency's Board approved the 2016-2017 budget including utilization of tax increment revenues for a number of projects including the completion of the Open Space Marina construction project, key acquisition funding, funding for the Town Square project, community police program, neighborhood stabilization -community standards outreach initiative, Heart of Boynton initiatives and the continuation of business and economic incentive programs. 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 Highway, Boynton Beach, Florida 33435. 1! I' , I a a I '' 1 IMP I (A Component Unit of the City of Boynton Beach, Florida) DEFERRED OUTFLOW OF RESOURCES Deferred amount on refunding t,197,519 Accounts payable and accrued expenses Governmental Deposits payable Activities ASSETS Cash and cash equivalents $ 11,721,326 Accounts receivables 6,339 Prepaids 83,921 Capital assets, net of accumulated depreciation: 93,502 Land 21,148,470 Furniture and equipment 157,194 Renovations 833,133 Leasehold improvements 61,507 Construction in progress 226,754 Building 1,461,088 Land improvements 526,898 Total assets 36,226,630 DEFERRED OUTFLOW OF RESOURCES Deferred amount on refunding t,197,519 Accounts payable and accrued expenses 233,613 Deposits payable 2,085 Long-term liabilities: Due within one year 1,625,000 Due in more than one year Bonds and loans payable 17,119,000 Compensated absences 93,502 Total liabilities 19,073,200 "111-1 MW The notes to the basic financial statements are an integral part of this statement. 4 Functions/Programs Governmental Activities: General government Redevelopment projects Interest on long-term debt Total Statement of Activities For the Year Ended September 30, 2016 Program Revenues Net (Expense) Revenue and Charges For Changes in Net Expenses Services Assets $ 2,814,692 $ 1,084,258 $ (1,730,434) 3,113,380 - (3,113,380) 680,415 (680,415) $ 6,608,487 $ 1,084,258 $ (5,524,229) General Revenues: Tax increment revenue $ 9,585,902 Loss on write-off and sale of capital assets (2,318,658) Interest and other income 125,095 Total general revenues 7,392,339 Change in net position 1,868,110 Net position - beginning of year 16,482,839 Net position - end of year $ 18,350,949 The notes to the basic financial statements are an integral part of this statement. 10 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Balance Sheet Governmental Funds September 30, 2016 The notes to the basic financial statements are an integral part of this statement. 11 Total Debt Service Governmental nerlFund ojects Fund Hund Funds ASSETS Cash and cash equivalents $ 4,772,034 $ 6,877,087 $ 72,205 $ 11,721,326 Accounts receivables 6,339 6,339 Prepaids 21,969 61,952 -- 83,921 Total assets $ 4,800,342 $ 6,939,039 $ 72,205 $ 11,811,586 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable and accrued expenses $ 70,824 $ 162,789 $ $ 233,613 Deposits payable 2,085 - 2,085 Total liabilities 72,909 1627789 235,698 Fund Balances: Nonspendable 21,969 61,952 - 83,921 Commited 1,022,417 2,397,914 72,205 3,492,536 Assigned 2,843,502 4,316,384 - 7,159,886 Unassigned 839,545 - - 839,545 Total fund balances 4,727,433 6,776,250 72,2.05 11,575,888 Total liabilities and fund balances $ 428002342 $ 6,939,039 72,205 $ 11,811,586 The notes to the basic financial statements are an integral part of this statement. 11 si R I *704M it ILIj i u NITIMO =1W 0-iWiMMOUTRiM v v to the Statement of Net Position For the Year Ended September 30, 2016 Amounts reported for governmental activities in the statement of net asset are different because: Capital assets used in governmental activities are not reported in the governmental funds. Capital assets - net of accumulated depreciation Deferred outflow of resources - reported as deferred amount on refunding Long-term liabilities are not reported in the governmental funds. Compensated absences Bonds and notes payable Net position of governmental activities The notes to the basic financial statements are an integral part of this statement. 12 11,575,888 24,415,044 1,197,519 (93,502) (18,744,000) 18,350,949 (A Component Unit of the City of Boynton Beach, Florida) Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds VENUES Tax increment revenue Charges for services Interest and other income Other Total revenues EXPENDITURES General government Redevelopment projects Debt service: Principal Interest and other charges Capital outlay Total expenditures Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) Proceeds from sale of capital assets Transfers in Transfers out Total other financing sources (uses) Net change in fund balances Fund balances - beginning of year Fund balances - end of year Total Debt Service Governmental General Fund Paoaectc Fund Fund Funds $ 9,585,902 $ $ $ 9,585,902 1,084,258 - 1,084,258 25,714 35,190 1,881 62,785 - 62310 62,310 10,695,874 97,5x0 1,881 -- 10,795,255 2,626,391 - 2,626,391 - 3,113,380 _ 3,113,380 13 - . 1 - 1,577,009 1,577,009 561,416 561,416 13,610 — 1,263,773 - 1,277,383 2,640,001 4,377,153 2,138,425 9,1552579 8,055,873 (4,279,653) (2,136,544) 1,639,676 556,001 - 556,001 - 5,034,122 2,142,518 7,176,640 _ (7,176,640) - (7,176,640) 7IZL6401 5,590,12.3 _ 2,142,518 556,001 879,233 1,310,470 5,974 2,195,677 3,848,2.00 5,465,780 66,231 9,380,211 $ 41727,433 $ 66776,250 $ 72,205 $ 11,575,888 13 - . 1 Reconciliation of the Statements of Revenues, Expenditures and For the Year Ended September 30, 2016 Net changes in fund balances - total governmental funds Amounts reported for governmental activities in the statement of activities are different because: Governmental hands report capital outlay expenditures. However, in the statement of activities, the cost of those assets is depreciated over their estimated useful lives. Expenditures for capital assets Less current year depreciation expense Disposal of capital assets For governmental funds, 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 net assets. Also, governmental funds report the effect of premiums, discounts, and similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities. Principal payments on long-term debt Write off on note payable balance Amortization on deferred amount on refunding Some expenses reported in the statement of activities do not require the use of current financial resource and, therefore, are not reported as expenditures in governmental finds. Net change in long-term compensated absences. Change in net position of governmental activities The notes to the basic financial statements are an integral part of this statement. 14 k 1,277,383 (169,815) (2,874,659) 1,577,009 752 (119,751) 1 I 1 i I � 1+ 1 Notes to the Basic Financial Statements September 30, 2016 1. SUMMARY OF SIGNIFICANT 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 read 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. This report, the accounting systems and classification of accounts conform to standards of the Governmental Accounting Standards Board (GASB), which is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The following is a summary of the more significant policies. A. Organization and reporting entity The Agency is a component unit established by the City of Boynton Beach, Florida (the "City") under the authority granted by Florida Statutes 163, Section 11I. 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 "District"). The Agency is a legally separate entity established by Ordinance number 83-41 of the City on December 20, 1983. The Agency has adopted GASB Statement No. 61, The Financial Reporting Entity: Omnibus—an amendment of GASB Statements No. 14 and No. 34, for the purpose of evaluating whether it has any component units. Based 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 elected officials. The City is considered to be financially accountable for the Agency and in accordance with GASB Statement No. 61, and therefore the Agency is considered to be a blended component unit in the City's comprehensive annual financial report. B. Reporting model The Agency's basic financial statements consist of government -wide statements, including a statement of net position and a statement of activities, and fund financial statements which provide a more detailed level of financial information. ove ent- ie financial statements The statement of net position and the statement of activities report information on all of the activities of the Agency. Governmental activities are reported separately from business -type activities which rely on fees charged to external parties as their primary revenues. The Agency has no business -type activities. The statement of net position reports the Agency's financial position as of the end of the fiscal year. In this statement, the Agency's net position is reported in three categories: net investment in capital assets; restricted net position; and unrestricted net position. The statement of activities presents a comparison between direct expenses and program revenues for each function of the Agency. Direct expenses are those that are clearly identifiable with a specific function. Program revenues include charges for services that are directly related to a given function and grants and contributions that are restricted to meeting the operational or capital requirements of a particular function. Tax increment revenue and other items not meeting the definition of program revenue are reported instead as general revenue. 15 September 30, 2016 B. Reporting model (Continued) Fund financial statements For the fiscal year ending September 30, 2016, the Agency reports three major fiends, the General Fund, the Debt Service Fund, and the Projects Fund. The General Fund is classified as a governmental fund 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 accounts for financial resources to be used for redevelopment programs and the acquisition or construction of capital projects. The governmental fund statement includes reconciliations with brief explanations to better identify the relationship between the government -wide statements and the statements for the governmental fund. C. Measurement focus and basis of accounting The government -wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. The governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the Agency considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when the related fund liability is incurred. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due. D. Cash, cash equivalents and investments Cash and cash equivalents are defined as short-term highly liquid Investments that are both readily convertible to known amounts of cash and have an original maturity of three months or less from the date of purchase. Cash and cash equivalents consist of petty cash and deposits with, financial 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 Statutes. Investments made locally consist of amounts placed in obligations of United States Government Agencies and Instrumentalities, and are reported at fair value. The 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, bankers' acceptances, state and/or local government taxable debt, mutual funds, repurchase agreements and the State Treasurer's investment pool, which has the characteristics of a money market fund. E. Capital assets 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 more than one year. These assets are recorded at historical cost. Donated capital assets are recorded at estimated fair value at the date of donation. Capital assets are depreciated using the straight-line method over the assets' estimated useful lives of all reported capital assets, except land and land improvements. The estimated useful life of furniture, fixtures and equipment is four to ten years. 16 W�Iel 1111"IrItAll V. (A Component Unit of the City of Boynton Beach, Florida) Notes to the Basic Financial Statements September 30, 2016 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) F. Fund equity / net position Eund-e . GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, establishes criteria for classifying fund balances into specifically defined classifications and clarifies defmitions 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 honor constraints on the specific purposes for which amounts in those funds can be spent, as follows: g Nonspendable fund balance - amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact. M Restricted fund balance - amounts that are restricted to specific purposes when constraints placed on the use of resources are either by (a) externally imposed by creditors (such as debt covenants), grantors, 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 pursuant to constraints imposed by formal action of the government's highest level of decision making authority. M Assigned fund balance - amounts that are constrained by the government's intent to be used for specific purposes, but are neither restricted nor committed. M Unassigned fund balance - amounts that have not been assigned to other funds and that have not been restricted, committed, or assigned to specific purpose within the general fund. When both restricted and unrestricted amounts are available for use, it is the Agency's practice to use restricted resources first. Additionally, the Agency would first use committed, then assigned, and lastly unassigned amounts of unrestricted fund balance. Net position The government -wide financial statements utilize a net position presentation. Net position can be categorized as net investment in capital assets, restricted, or unrestricted. The first category represents capital assets, less accumulated depreciation and net of any outstanding debt associated with the acquisition of capital assets. Restricted net 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 project or purpose. When both restricted and unrestricted resources are available for use, it is the Agency's policy to use unrestricted resources first, and then restricted resources as they are needed. G. Bond premiums, discounts and issuance costs In the government -wide financial statements, bond premiums and discounts are deferred and amortized over the life of the bonds using the straight line method. Bonds payable are reported net of the applicable bond premium or discount. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs during the current period. The face 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 are reported as debt service expenditures in the fund financial statements and redevelopment projects expense in the government -wide financial statements. 17 (A Component Unit of the City of Boynton Beach, Florida) H. 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 recognized 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 -wide statement of net position. A deferred charge on refunding results from the difference in the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the life of refunded debt. I. Revenue sources Tax increment revenues are the primary source of revenue for the Agency. Tax increment revenues are collected from two governmental entities that levy property taxes within the legally defined redevelopment area of the Agency, which is the City of Boynton Beach, Florida and Palm Beach County, Florida. L 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 total accrued leave by the end of each fiscal year, upon termination or retirement. The Agency accrues a liability for leave hours that meet the criteria for payment at the eligible employees' current rates of pay. K. 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 are based on management's knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. L. Reclassifications Certain prior year amounts have been reclassified to conform to the current year's presentation. 2. CASK CASH EQUIVALENTS AND ST NTS All of the Agency's bank deposits are insured by the Federal Deposit Insurance Corporation or collateralized in accordance with Florida Security for Public Deposits Act (the "Act"). Under the Act, every qualified public depository shall deposit with the Treasurer eligible collateral having a market value equal to 50% of the average daily balance for each month that all public deposits are in excess of any applicable deposit insurance. If the public deposits exceed the total amount of the regulatory capital accounts of a bank or the regulatory net worth of a savings association, the required collateral shall have a market value equal to 125% of the deposits, The Agency'; investment policy is designed to ensure the prudent management of funds, and the availability of operating and capital funds when required, while earning a competitive return within the policy framework. The primary objectives, in order of priority, of investment activity shall be safety, interest rate risk, liquidity and yield. As of September 30, 2016, the Agency does not have any investments. W. WIN(- 1 September 30, 2016 "Wo- 4 9 V Fly 19133,11 By Capital assets activity for the year ended September 30, 2016, is as follows: Balance at Deletions/ Balance at 9/30/2015 Additions Write offi 9/30/2016 Capital assets, not being depreciated: Land $ 22,087,226 $ 1,040,616 (1,979,372) 21,148,470 Construction in progress421,841 196,492 (3 26,754 Total capital assets, not being depreciated . 22;50-9,067 1,237,108 J2,370,951) $21,375,224 Capital assets, being depreciated: Building Renovations Land improvements Leasehold improvements Furniture and equipment Total capital assets, being depreciated Less accumulated depreciation for: Building Renovations Land improvements Leasehold improvements Furniture and equipment Total accumulated depreciation Total capital assets, being depreciated, net Total capital assets, net of accumulated depreciation 1,531,272 1,531,272 1,652,247 (577,500) 1,074,747 589,079 589,079 147,145 - 147,145 320,524 40,275 360,799 4,240,267 40.275 3,703,042 (31,902) (38,282) (70,184) (267,671) (47,735) 73,792 (241,614) (22,909) (39,272) - (62,181) (72,982) (12,656) (85,638) (171,735)_ (31,870) - (203,605)_. (567,199) 73,792L 663,222) 3,673,068_ (122,540) 503,708) 3,039,820 Depreciation expense of $169,815 was charged to general government for fiscal year 2016. At September 30, 2016, bonds and loans payable consist of the following: BONDS: 2012 Tax Increment Refunding Revenue Bonds dated October 18, 2012, due in annual principal installments of $143,000 to $1,530,000 through October 1, 2026, bearing an interest rate of 2.561/6. $ 14,099,000 2015 Tax Increment Refunding Revenue Bonds, 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%. - 4,645,000 $ 18,744,000 The annual requirements to amortize bonds and loans payable outstanding as of September 30, 2016, are as follows: 19 :. �. %J"Viiii September 30, 2016 4 - 1 , , • I , Fiscal Refunding Revenue Bonds RefirndiLig Revenue Bonds Totals Due within Year s Principal Interest Principal Interest Principal Interest 2017 $ 1,265,000 360,934 360,000 $ 153,285 $ 1,625,000 $ 514,219 2018 1,300,000 328,550 370,000 141,405 1,670,000 469,955 2019 1,331,000 295,270 380,000 129,195 1,711,000 424,465 2020 1,367,000 261,197 395,000 116,655 1,762,000 377,852 2021 1,397,000 226,202 410,000 103,620 1,807,000 329,822 2022-2026 7,439,000 576,384 2,730,000 299,310 10,1 .000 875,694 $ 14,099,000 $ 2,048,538 $ 4,645,000 $ 943,470 $ 18,7 ,000 $ 2,992,008 The changes in long-term liabilities for the year ended September 30, 2016 are summarized as follows: In fiscal years 2015 and 2013, the Agency defeased certain increment revenue bonds, placing the proceeds of new refunding bonds in an irrevocable trust to provide for all future debt service on the refunded portions of the increment revenue bonds. Accordingly, the trust account assets and the liability for the defeased bonds are not included in the Agency's financial statements. The refundings resulted in a difference between the reacquisition price and the net carrying amount of the old debt, which is being charged to operations through 2026 using the effective -interest method. As of September 30, 2016, there are no outstanding balances on either of the defeased bonds. At September 30, 2016, the Agency reported the following governmental fiord balances: Nonspendable fund balance - These amounts cannot be spent because they are either (a) not in spendable form or (b) legally or contractually 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 are approved and constrained by the Agency's intent to be used for specific purposes, but are neither restricted nor committed. Unassigned fund 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 fund balance categories and classifications, by fund, at September 30, 2016: 20 Balance at Balance at Due within 9130115 Additions Deletions 9/30116 one year Bonds payable $ 20,031,000 $ _7____$_(L,2 87,000) 18,744,000 $ 1,625,000 Notes payable 290,762 - (290,762) - Compensated absences 75,016 18,486 - 93,502 Total long-term liabilities $ 20,396,778 $ 18,486 $ 1,577,762) $ 18,837,502 $ 1,625,000 In fiscal years 2015 and 2013, the Agency defeased certain increment revenue bonds, placing the proceeds of new refunding bonds in an irrevocable trust to provide for all future debt service on the refunded portions of the increment revenue bonds. Accordingly, the trust account assets and the liability for the defeased bonds are not included in the Agency's financial statements. The refundings resulted in a difference between the reacquisition price and the net carrying amount of the old debt, which is being charged to operations through 2026 using the effective -interest method. As of September 30, 2016, there are no outstanding balances on either of the defeased bonds. At September 30, 2016, the Agency reported the following governmental fiord balances: Nonspendable fund balance - These amounts cannot be spent because they are either (a) not in spendable form or (b) legally or contractually 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 are approved and constrained by the Agency's intent to be used for specific purposes, but are neither restricted nor committed. Unassigned fund 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 fund balance categories and classifications, by fund, at September 30, 2016: 20 Notes to the Basic Financial Statements 1;111] Zil lil J. 1111111:== i Nonspendable Committed Assigned Unassigned Total Mo During the fiscal year ended September 30, 2016, the General Fund transferred $5,034,122 and $2,142,518 to the Projects Fund and Debt Service Fund, respectively. The transfers made to the Projects Fund were to fund the costs of ongoing redevelopment projects. The transfers made to the Debt Service Fund were to fund the annual debt service expenditures on the bonds and loans payable. .- WERUWA IDI DEW.. The Agency established the Homebuyer Assistance Program to assist local residents with the purchase of a home by providing a subsidy in an amount not to exceed $50,000 per homeowner. The subsidy is secured by a mortgage, which is required to be paid back only under certain circumstances outlined in the mortgage agreement. The mortgage is forgiven if the homeowner remains in the home during the full term outlined in the agreement. The amount of mortgages receivable outstanding at September 30, 2016 total $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 outstanding. Consequently these mortgages are not recognized on the financial statements. 8. RISK MANAGEMENT The Agency is exposed to various risks of loss related to torts, theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The Agency purchases commercial insurance for the risks of loss to which it is exposed. Policy limits and deductibles are reviewed by management and established at amounts to provide reasonable protection from significant financial loss. Settlements did not exceed insurance coverage in the past three fiscal years. 1 A. Economic development programs The Agency established Economic Development Programs in an c ort 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, Rent Subsidy, Interior Build -Out and Signage. During fiscal year 2016, the Agency closed and disbursed $425,566 in Economic Development Grants. R1 Debt General Projects Service Fund Fund Fund 21,969 $ 61,952 $ - 1,022,417 2,397,914 72,205 2,843,502 4,316,384 839,545 - - $ 4,727,433 $ 6,776,250 $ 72,2.05 During the fiscal year ended September 30, 2016, the General Fund transferred $5,034,122 and $2,142,518 to the Projects Fund and Debt Service Fund, respectively. The transfers made to the Projects Fund were to fund the costs of ongoing redevelopment projects. The transfers made to the Debt Service Fund were to fund the annual debt service expenditures on the bonds and loans payable. .- WERUWA IDI DEW.. The Agency established the Homebuyer Assistance Program to assist local residents with the purchase of a home by providing a subsidy in an amount not to exceed $50,000 per homeowner. The subsidy is secured by a mortgage, which is required to be paid back only under certain circumstances outlined in the mortgage agreement. The mortgage is forgiven if the homeowner remains in the home during the full term outlined in the agreement. The amount of mortgages receivable outstanding at September 30, 2016 total $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 outstanding. Consequently these mortgages are not recognized on the financial statements. 8. RISK MANAGEMENT The Agency is exposed to various risks of loss related to torts, theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The Agency purchases commercial insurance for the risks of loss to which it is exposed. Policy limits and deductibles are reviewed by management and established at amounts to provide reasonable protection from significant financial loss. Settlements did not exceed insurance coverage in the past three fiscal years. 1 A. Economic development programs The Agency established Economic Development Programs in an c ort 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, Rent Subsidy, Interior Build -Out and Signage. During fiscal year 2016, the Agency closed and disbursed $425,566 in Economic Development Grants. R1 �ufMl r r �i r I September 30, 2016 The Agency leases a building under a ten year commercial lease 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 -cancelable 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 unless the Agency terminates the lease. Rental costs for the year ended September 30, 2016 totaled $85,445. Future minimum lease payments are as follows: Fiscal year ending Sep er 30, 2017 $ 90,135 2018 89,874 2019 92,672 2020 95,583 2021 98,610 The Agency participates in a 401(a) defined contribution retirement plan and a 457(b) deferred compensation plan (the "Plans"). The Plans are qualified under Sections 401(1), 403 (a) and 501(a) of the Internal Revenue Code. The flans are administered by independent trustees. All employees who meet the requirements are qualified to participate. Employees 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 2016 totaled $119,443. 11. RELATED PARTY TRANSACTIONS The Agency is a blended component unit of the City of Boynton Beach, r'lorida. 1, "or the year ended September 30, 2016, the Agency's tax increment revenues include $5,971,583 received from the City. In addition, the Agency reimbursed the City for services performed on behalf of the Agency such as recording, information technology services, Clean & Safe program, landscape and maintenance services, festival expenses, human resource and payroll services, facility rental and permitting fees paid during the year. Payments to the City for these services during the year ended September 30, 2016 totaled $260,005. # The Agency evaluated subsequent events through December 13, 2016, the date the financial statements were available to be issued, and does not believe that there are any such events or transactions that require disclosure. W September 30, 2016 13. NEW PRONOUNCEMENTS ISSUED (Continued) ■ GASB Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets That Are Not within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements 67 and 68, which is effective for the fiscal year ending September 30, 2017. MM GASB Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, which is effective for the fiscal year ending September 30, 2017. ■ GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, which is effective for the fiscal year ending September 30, 2018. MM GASB Statement No. 77, Tax Abatement Disclosures, which is effective for the fiscal year ending September 30, 2017. ■ GASB Statement No. 78, Pensions Provided through Certain Multiple -Employer Defined Benefit Pension Plans, which is effective for the fiscal year ending September 30, 2017. ■ GASB Statement No. 79, Certain External Investment Pools and Pool Participants, which is effective for the fiscal year ending September 30, 2017. ■ GASB Statement No. 80, Blending Requirements for Certain Component Units — an amendment of GASB Statement No. 14, which is effective for the fiscal year ending September 30, 2017. W GASB Statement No. 81, Irrevocable Split -Interest Agreements, which is effective for the fiscal year ending September 30, 2018. ■ GASB Statement No. 82, Pension Issues — an amendment of GASB Statements No. 67, No. 68, and No. 73, which certain requirements are effective for the fiscal year ending September 30, 2017, and certain other requirements effective for fiscal year ending September 30, 2018. 9 "D1 1 11 1 r BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Budgetary Comparison Schedule (Unaudited) General Fund For the Year Ended September 30, 2016 The notes to the Budgetary Comparison Schedule are an integral part of this schedule. 24 Variance with Final Budget - Original Positive Budget Final u get Actual (Negative) REVENUES Tax increment revenue $ 9,319,593 $ 9,319,593 $ 9,585,902 $ 266,309 Charges for services 1,100,000 1,100,000 1,084,258 (15,742) Interest and other income - - 25,714 25,714 Total revenues 10,41-9,593 10,419,593 10,695,874 276,2 1 EXPENDITURES General government 3,242,953 3,242,953 2,626,391 616,562 Capital Outlay - - 13,610 (13.610) Total expenditures 3,242,953 3,242,953 2,640,001 602,952 Excess of revenues over expenditures 7,176,640 7,176,640 8,055,873 77-97233 The notes to the Budgetary Comparison Schedule are an integral part of this schedule. 24 ' Component Unit of the City of Boynton Florida) s i : a�- • =�. September 30, 2016 NJ 1'. I\ I it):Us ial The Agency is required to establish a budgetary system and an approved annual budget for the General Fund, Debt Service Fund and Project Fund. The Agency's budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. In accordance with generally accepted accounting principles, budgetary comparison information is disclosed only for the General Fund. The budget is adopted on the modified accrual basis of accounting, consistent with generally accepted accounting principles, with the exception of compensated absences. Compensated absences are budgeted only to the extent expected to be paid, rather than on the modified accrual basis. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. M Independent Auditor's Report on Internal Control Over on an Audit of FinancialStatements Performed I'. Accordance WitA'.Government Auditing To the Board of Commissioners Boynton Beach Community Redevelopment Agency: We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund 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, 2016, and the related notes to the financial statements, which collectively comprise the Agency's basic financial statements, and have issued our report thereon dated December 13, 2016. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the Agency's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Agency's internal control. Accordingly, we do not express an opinion on the effectiveness of the Agency's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected 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 attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal 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. However, material weaknesses may exist that have not been identified. Compliance and Other Matters As part of obtaining reasonable assurance about whether the Agency's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. 26 Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Miami, Florida December 13, 2016 FA k Management Letter in Accordance with the ales of the Auditor General of the State of Florida To the Board of Commissioners Boynton Beach Community Redevelopment Agency: Report on the Financial Statements We have audited the financial statements of the Boynton Beach Community Redevelopment Agency (the Agency), a component unit of the City of Boynton Beach, Florida, as of and for the fiscal year ended September 30, 2016, and have issued our report dated December 13, 2016. Auditor's Responsibility 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 Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the 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 Performed in Accordance with Government Auditing Standards. Disclosures in that reports, which is dated December 13, 2016, should be considered in conjunction with this management letter. Prior Audit Findings Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no findings or recommendations made in the preceding annual financial audit report. Official Title 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 1(A) to the Agency's financial statements. Financial Condition Section 10.554(1)(i)5.a., Rules of the Auditor General, requires that we report the results of our determination as to whether or not the Agency has met one or more of the conditions 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. 28 Pursuant to Sections 10.554(l)(i)5.c. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures as of September 30, 2016. It is management's responsibility to monitor the Agency's financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. Annual Financial Report Section 10.554(1)(i)5.b., Rules of the Auditor General, requires that we report the results of our determination as to whether the annual financial report for the Agency for the fiscal year ended September 30, 2016, filed with, the Florida Department of Financial Services pursuant to Section 218.32(l)(a), Florida Statutes, is in agreement with the annual financial audit report for the fiscal year ended September 30, 2016. As of the date of our report, the Agency has not filed its annual financial report with the Florida Department of Financial Services. Other Matters Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter any recommendations to improve financial management. In connection with our audit, we slid not .have any such recommendations. Section 10.554(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 are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings. Purpose of this Letter Our management letter is intended solely for the information and use of the Florida Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, and the Board of Directors and management of the Agency, and is not intended to be and should not be used by anyone other than these specified parties. )AW" 496 p4ku�tt E Miami, Florida December 13, 2016 29 Old Business I I New Business I I Legal I I Information Only— FXCI4►1.711111111'=I,FI I0 Review and Discussion of ILA for the Funding of the Neighborhood Sustainability – Community Standards Outreach Coordinator SUMMARY: At the August 17, 2016 CRA budget meeting, the CRA Board voted to fund a Community Standards Outreach Coordinator positon as part of the CRA's Clean & Safe Program. This position is part of the Community Standards division of the City of Boynton Beach, which reports to the Fire Department. The position will be dedicated solely to the Community Redevelopment Area. The proposed ILA, Program Description, Budget and Organizational Chart are attached. The attached has been reviewed by both the City and CRA Legal counsel. The goals of the Program and Position for FY 2016-2017 are: • Understand the CRA Redevelopment Plans and goals. • Have a working knowledge of CRA grants and programs. • Meet with the CRA Executive Director twice a month. • Assist in establishing goals which are SMART (Specific, Measurable, Attainable, Realistic, & Timebound) • Engage residents and business owners. • Provide emphasis on responsible community code enforcement. • Implement special initiatives to resolve neighborhood specific solutions to comply with City Codes, State Laws, and Regulations. • Provide CRA residents and businesses with solution -oriented Issue resolutions. • Assist with public education and violation prevention within the CRA Redevelopment area. • Identify specific problems within the CRA Redevelopment area and help with the coordination of CRA resources and other City services to resolve violation issues. • Personnel assigned to this function shall work a minimum of 40 hours a week. Thirty of these hours will be spent in the community, building relationships, collecting information and providing resources and information to residents and business owners who seek to promote positive change within their neighborhood. Specific emphasis should be given to those actions which will contribute to the attainment of the goals established with Community Standards Program within the CRA Redevelopment area. In addition: Personnel assigned to this function will be furnished with equipment as specified in the budget for FY2016-2017, provided such equipment does not violate statutory designated expenditures. 00742755-1 • CRA staff shall be informed of the Neighborhood Sustainability, Community Standards Outreach Coordinator's hours on a regular basis. • The CRA shall be provided with an organizational chart of the Community Standards department. • The CRA shall be provided a quarterly written report outlining the following: a Hours worked by the CRA Community Standards Outreach Coordinator o Activities undertaken to achieve the goals of the Program o Relevant statistics for the reporting period. • At the end of the fiscal year, the Community Standards Department shall provide a written report summarizing the goals achieved along with a statistical report and associated map. Included in the report shall be recommendations for Program changes for the next fiscal year. • Funding for the Program shall be appropriated annually at the discretion of the CRA Board. • CRA Board approved funding for the Program, Fiscal year 2016-17, shall be in the amount of $134.000 as described in the agreement. If approved by both Boards, the City and CRA will enter into an Interlocal Agreement for the reimbursement of Program eligible and direct expenses incurred by the City. The City shall invoice the CRA each quarter for direct program expenses while the Program is operational not to exceed the approved funding. While the CRA will provide funding to support this program, operational and supervisory control remains with the City's Community Standards Department FISCAL IMPACT: $134,000 — FY 2016-2017 Budget, line item: 02-58500-461 CRA PLAN/PRO 2016 Boynton Beach Community-_ _• - i .18T A01 -Y-114:4 • ! CommunityCRA BOARD MOTIONIOPTIONS: Approve the ILA for the Neighborhood Sustainability, r •s Outreach CoordinatorProgram. 00742755-I THIS AGREEMENT is made this day of . 2017 by and between e CITY OF BOYNTON BEACH, a Florida Municipal Corporation, ("City"), and e BOYNTON BEACHCOMMUNITY REDEVELOPMENT AGENCY, ("CRA") (individually and collectively, the "Party" or "Parties"). the C 's Neighborhood Sustainability, Community Standards Program ("Program") is intended to improve the quality of life for area residents and to increase private investment within the Community Redevelopment Area ("Redevelopment Area") by ensuring customers receive a high level of service, customer accessibility, timely communications, effective outreach, education and problem resolution with the goal of strengthening the relationship with residents and business community and ensuring the highest level of customer satisfaction with respect to the provisions of the City and ordinances and policies, including those specific to the Redevelopment Area; and WHEREAS, the goal of the CRA's Redevelopment Plan is the elimination of slum and blighted conditions in the Redevelopment Area is; and WHEREAS, the Program has jurisdiction within the Redevelopment Area; and the City desires to provide the CRA with the management for the Program under the terms of the Program shown in Exhibit "A;" and WHEREAS, the CRA Board finds that this Agreement, and the use of the C 's funds to implement a portion of the Program that specifically serves the Redevelopment Area is consistent with the Community Redevelopment Plan and Florida Statutes; and 06742721_1 e to the intended elimination of slum and blighted conditions, the beneficial economic impact of the Program, the CRA and the City find that this funding agreement serves a municipal and public purpose, and is in the best interest of the health, safety, and welfare of the residents and business owners of the City, including those within the Redevelopment Area; NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the Parties hereby agree as follows: I . Recitals. The recitals set forth above are hereby incorporated herein. 2. Obligations of the CRA. The CRA shall provide funding to the City in the maximum amount of One Hundred Thirty Four Thousand and 00/100 Dollars ($134,000.00), for the Program to be used for reimbursement of the costs associated with employing and equipping one Community Standards Outreach Coordinator specifically dedicated to the Redevelopment Area ("Coordinator"), as further described in Exhibit "A." Upon receipt of a complete, written request from the City, the CRA shall make payments to the City on a quarterly basis for the reimbursement of direct expenses related to the Coordinator In order to be deemed complete, the written request from the City for payment must include all payroll and program documentation, a copy of the Coordinator's work schedule, and copies of receipts indicating the amount and the purpose for the payment for which the City is seeking reimbursement. The CRA shall remit payment to the City within thirty (30) days of receipt of a complete request from the City. 3. Obligations of the City. On a quarterly basis, the City shall provide a report to the CRA regarding the Program as it was implemented within the Redevelopment Area for that quarter. The report shall detail the activities of the Coordinator for that quarter and all other information Exhibit "A" states will be contained the quarterly report. 00742726-6 F.M171 . r 1 1 ITWM1 . ` ! 1.. may be asserted, claimed, or recovered against or from the CRA, its agents, or its sustained by any person whomsoever, which damage is incidental to, occurs as a result of, arises out of, or is otherwise related to the negligent or wrongful conduct or the faulty equipment (including equipment installation and removal) of the Coordinator or the Program. Nothing in this Agreement shall be deemed to affect the rights, privileges, and sovereign immunities of the CRA as set forth in Section 768.28, Florida Statutes. This paragraph shall not be construed to require the City to indemnify the CRA for its own negligence, or intentional acts of the CRA, its agents or employees. Each party assumes the risk of personal injury and property damage attributable to the acts or omissions of that party and its officers, employees and agents. 5. Term of the Agreement. This Agreement shall become valid and commence upon execution by the last Party to this Agreement, and shall terminate on September 30, 2017 ("Termination Date"). The CRA shall not be required to reimburse the City for any requests submitted after the Termination Date. The term of the Agreement may be extended one time and may only be extended upon approval by the CRA Board and upon the appropriation of CRA funds for this Agreement in the subsequent fiscal year's budget . Such extension is only effective upon the execution of a written amendment signed by both Parties. Nothing in this paragraph shall be construed so as to affect a Party's right to terminate this Agreement in accordance with other provisions in this 00742721-1 11111111 11iIIIIJI III ri 111111 P111 11111�1111!11 !I ill�illillilill , 111111 !1111 111111 11 1111plilill k -.4 1 91 .. .1 1 MIMI 11 � I . I I I III I I � III 1plyipt= M IIMIIMIII I III !111 11 1 1! 111 11! 1! 111 1 111 . . - . . - -. 11�!!I !111 1 111 111 !1 iron ITMOM-70UMM "14 M-11 1 1111 T r, I M. I K 11 �� i I I 1 ?1111 1 VOMM I COMM � � I V I � I I I I I � I � M I ��� I I I . $ .I during the term of this Agreement and at least 1 year after the termination of the 7. Fil1mg. The City shall file this Interlocal Agreement pursuant to the requirements of Section 163. 01 (11) of the Florida Statutes 8. Default. If either Party defaults by failing to perform or observe any of the material terms and conditions of this Agreement for a period of ten (10) calendar days after receipt of written notice of such default from the other Party, the Party giving notice of default may terminate this Agreement through written notice to the other Party, and may be entitled, but is not required, to seek specific performance of this Agreement on an I III IIIIII;Ipliii POP,", 11111111p1�11111 1 11 - I . - L=1 relate to the health, safety, and welfare of the residents of the City and Redevelopment Area. . Failure of any Party to exercise its right in the event of any default by the other Party shall not constitute a waiver of such lights. No Party shall be deemed to have waived any rights related to the other Party's failure to perform unless such waiver is in writing and signed by both Parties. Such waiver shall be limited to the terms specifically contained therein. This section shall be without prejudice to the rights of any Party to seek a legal 00742721-1 • �. 51 ! 1 +', " 1 1 Al I 1; •no VAMM statutes, laws, ordinances, rules, regulations and lawful orders of the United States of America, State of Florida and of any other public authority which may be applicable. 11. Entire Agreement. TAgreement 11111 1111111 1111111111111 loll 111111111 herein. No terms herein may be altered, except in writing and then only if signed by all the Parties hereto. All prior and contemporaneous agreements, understandings, communications, conditions or representations, of any kind or nature, oral or written, concerning the subject matter expressed herein, are merged into this Agreement and the terms of this Agreement supersede all such other agreements. No extraneous information may be used to alter the terms of this Agreement. 12. Severability. If any part of this Agreement is found invalid or unenforceable by any court, such invalidity or unenforceability shall not affect the other parts of the Agreement if the rights and obligations of the parties contained herein are not materially prejudiced and if the intentions of the parties can continue to be achieved. To that end, this Agreement is declared severable.. 13. Governing Law and Venue. The validity, construction and effect of this Agreement shall be governed by the laws of the State of Florida. Any and all legal actions necessary to enforce the terms of this Agreement shall be conducted in the Fifteenth Judicial Circuit in and for Palm Beach County, Florida, or, if in federal court, in the United States District Court for the Southern District of Florida, to which the Parties expressly agree and submit. 00742721-1 orientation or disability for any reason in its hiring or contracting practices associated with 1'r 11, 1111 !4 - $1 notice must be in writing and sent by United States mail, return receipt requested, courier, evidenced by a delivery receipt, or by overnight express delivery service, evidenced by a delivery receipt, addressed to the Party for whom it is intended at the place last specified; and the place for giving of notice shall remain until it shall have been changed by written notice in compliance with the provisions of this paragraph. For the present, the Parties designate the following as the respective places for giving of notice. CITY: Lori LaVerricre, City Manager City of Boynton Beach 100 E. Boynton Beach Boulevard Boynton Beach, FL 33435 CRA: Michael Simon, Interim Executive Director Boynton Beach CRA 710 N. Federal Highway Boynton Beach, Florida 33435 Copies To: James A. Cherof Goren, Cherof, Doody & Ezrol, P.A. 3099 East Commercial Boulevard, Suite 200 Fort Lauderdale, Florida 33308 Tara Duhy, Esquire Lewis, Longman & Walker, P.A. 515 North Flagler Drive, Suite 1500 West Palm Beach, Florida 33401 FIEWM =1 11111,1111,1111,111 =11'' lo I 11111111:1,Lilllr,�ol 1! 111111 6:111mi(0)l 0 A 0 A --- 11 Is I 17. Interpretation. This Agreement shall not be construed more strictly I I I- I - I - - 0 14 - 11 �o � Agreement as of the date set forth above. F.11 W I w" Judith Pyle, City Clerk Approved as to Form: Approved as to Form: rumwmm��� 00742721-1 CITY OF BOYNTON BEACH, a Florida municipal corporation Steven B. Grant, Mayor Em By: Steven B. Grant, Chair • k 0- BO"Y" NN'li B . EL..r 1 9 � o itoW 0 The Neighborhood Sustainability, Community Standards Program is designed to assist the public, including private residents and business owners, to ensure customers within the Community Redevelopment Area receive a high level of service, customer accessibility, timely communications, effective outreach, education and problem resolution with the goal of strengthening the relationship between the City of Boynton Beach Community Standards Department and residents and business community to ensure the highest level of education, outreach and satisfaction with respect to the provisions of the City of Boynton Beach code of ordinances and policies. A major goal of the Neighborhood Sustainability, Community Standards Outreach Program is to cultivate high levels of mutual trust, understanding and respect between the CRA Community Standards Outreach Coordinator and the residents and business within the Community Redevelopment Area. In order to achieve this, it is necessary that the Community Standards Outreach Coordinator develop relationships which transcend the confines of ordinary community standards activities and instead focuses upon building sustainable problem solving partnerships. Additionally, building problem solving partnerships and substantive relationships with invested members of the community will lead to a greater understanding of some of the challenges members of the public and businesses face and will help the Community Standards Outreach Coordinator garner unique insights which might aid in addressing these challenges. This program is designed to help effectively integrate the assigned Community Standards Outreach Coordinator into the fabric of the CRA community. 00742748-1 1 Reducing slum and blight and improving the quality of life within the Community Redevelopment Area requires the development of these types of productive and meaningful relationships between citizens and representatives of their local government. Neighborhood Sustainability, Community Standards personnel are postured to serve as a catalyst to an array of CRA r City services, community! and community.organizations which can aid those in need as they work to better their circumstances and work in concert with other community partners to confront the challenges they identify within the The City of Boynton Beach Community Standards Department shall make all necessary efforts to achieve the following CRA Program Goals and Activities. The assigned CRA Community Standards Outreach Coordinator will, in addition to the Essential Function of the job description: • Understand the CRA Redevelopment Plans and goals. • Have a working knowledge of CRA grants and programs. • Meet with the CRA Executive Director twice a month. • Assist in establishing goals which are SMART (Specific, Measurable, Attainable, Realistic, & Timebound) • Engage residents and business owners. • Provide emphasis on responsible community code enforcement. • Implement special initiatives to resolve neighborhood -specific solutions to comply with City Codes, State Laws, and Regulations. • Provide CRA residents and businesses with solution -oriented issue resolutions. • Assist with public education and violation prevention within the Community Redevelopment Area. • Identify specific problems within the Community Redevelopment Area and help with the coordination of CRA resources and other City services to resolve violation I Work a minimum of 40 hours a week. Thirty of these hours will be spent in the community, building relationships, collecting information and providing resources and information to residents and business owners who seek to promote positive change within their neighborhood. Specific emphasis should be given to those actions which will contribute to the attainment of the goals established with Community Standards Program within the Community Redevelopment Area. Further, the CRA and the City agree: Personnel . • -• to this functionbe -• with equipment as specified in the budget for1 . 1 provided equipment does not• ,statutory designated expenditures. 011742748-1 2 staff shall be informed ei h rSustainability,unity Standards re c iatrhours on a regular basis. • The CRA shall be providedwith an organizational chart of the Community Standards partet. • The CRA shall be provided a quarterly written report outlining the following: o Hours worked by the CRA Community Standards Outreach Coordinator o Activities undertaken to achieve the goals of the Program o Relevant statistics for the reporting period. • At the end of the fiscal year, the Community Standards Department shall provide a written report summarizing the goals achieved along with a statistical report and associated map. Included in the report shall be recommendations for Neighborhood Sustainability, Community Standards Program changes for the next fiscal year. • Funding for the Neighborhood Sustainability, Community Standards Program shall be appropriated annually at the discretion of the CRA Board. • The CRA Board approved funding for the Neighborhood Sustainability, Community Standards Program for Fiscal year 2016-17 shall be in the amount of $134,000 as described in Attachment I to this Exhibit, which is hereby incorporated as if fully set forth herein. • This document may be incorporated as an Exhibit to an Interlocal Agreement between the City and the CRA for the reimbursement of certain eligible and direct expenses incurred by the City associated with the Neighborhood Sustainability, Community Standards Program. The City shall invoice the CRA each quarter for direct program expenses while the Neighborhood Sustainability, Community Standards Program is operational, not to exceed the approved funding. • While the CRA will provide funding to support this program, operational and supervisory control remains with the City's Community Standards Department. oo7az7"-i CRA BOARD 1 1 Consent Agenda I I Old Business IX I New Business I I Legal I I Information OiAnly SUBJECT: Consideration of the Design Scope of Services Work Order with Kimley-Horn & Associates, Inc. for the Boynton Beach Boulevard Streetscape Improvement Project, Construction Design Plans. Boynton Beach Boulevard is generally seen as the entry way into downtown Boynton Beach. Because the boulevard has been widened over the years (lanes added), there is little space left within the public right-of-way that can be used for landscaping improvements or for wider sidewalks. The Florida Dept. of Transportation has agreed that Boynton Beach Boulevard between the US -1 to Seacrest Boulevard, as well as between Seacrest Boulevard and 195 can be altered within acceptable design standards to create the additional space needed to accommodate various enhancements without impeding traffic. This proposed alteration would create space for new public improvements such as defined bike lanes, wider sidewalks, larger sidewalk shade trees, street furniture and public art. Public support for these streetscape improvements was made evident at the many meetings held during the 2016 CRA Redevelopment Plan update process and identified in the approved Plan, Section D. District Plans, Boynton Beach Boulevard District, pages 54-69 (see Attachment 1). At their August 17, 2016, Fiscal Year 2016-2017 Budget meeting, the CRA Board approved funding in the amount of $600,410 for the Boynton Beach Boulevard Streetscape Improvement Project Design and Construction Plans. Over the past several years, the CRA has been working with the engineering firm of Kimely-Horn & Associates, Inc., on numerous aspects of this project necessary to reach the construction design phase of the project. As a result of this extensive pre -design analysis and planning work, the project is ready to enter the construction design and permitting phase with approval from of the CRA Board. CRA professional services provider, Kimley-Horn & Associates, Inc. has submitted a Design Scope of Services Work Order Proposal for the engineering services necessary to complete the design and construction plans for the streetscape improvements from US -I to 195 in the amount of $560,000. If the Board prefers to break the project up into phases, Kimley-Horn has provided a Design Scope of Services proposal to undertake design from the US -1 to Seacrest Blvd. in the amount of $366,000 (see Attachment II). FISCAL IMPACT: $375,000 - 575,000 from approved FY 2016-2017 Budget, Line Item 02-58100-203 C,14 PLANIPROJ ECT/PROG RAM: 2016 CRA Redevelopment Plan Boulevard District area - - Downtown i, Master Plan. Approve the Design Scope of Services Work Order with Kimley-Horn & Associates, Inc. for the Boynton Beach Boulevard Streetscape Improvement Project, Construction Design Plans from the US -1 to 195. iP. Approve the alternate Design Scope of Services Work Order With Kimley-Horn & Associates, Inc. for the Boynton Beach Boulevard Streetscape Improvement Project, Construction Design Plans frx)m the US -1 to Seacrest Boulevard. L / Co. mmunity Redevelopment Plan in Boulevard District Introduction Planning l Planningenges The Vision Recommendations 55 ,y $ t ! f il) fly l J`^ Boynton Beac in Boulevard District Introduction Planning l Planningenges The Vision Recommendations 55 m visionCurrently there is no adopted plan for the Boynton Beach Boulevard corridor. There were pub workshops held in 2005 to discuss the vision for the corridor, and many of the recommendations fro those workshops are incorporated into this plan. There has been little redevelopment progress along t corridor at the scale envisioned by this Plan due to lack of developable parcels, no clear developme !littleto no public investment. The CRA invested in a public parking lot in 2015 to serve the future downtown growth. The Agency iz currently in the planning phase for !'. - to Boynton BeachBoulevard. l- andthe FEC Railway. TheDistrict!northto !Avenue andsouthto W. OceanAvenue RSeacreast.Boulevard) and of SeacrestBoulevard). This area is the main entry into the downtown from the 1-95 exit and will therefore establish the first impression that visitors and many residents have of the City. The district also provides easy access to the City's public beach, the Boynton Harbor Marina, City Hall, the Children's Schoolhouse Museum and the Library. The areas directly north and south of the District are predominately large single-family neighborhoods. There is no buffer between the commercial uses fronting the corridor and residential uses which has held back property values in these neighborhoods. Hgur iu: ttoynton Beach District Location Map ElLan n 1 ncLCItall nq9 As the City's population grew, Boynton Beach Boulevard was widened to five lanes thereby accommodating higher traffic speeds and higher traffic volume, while lowering the aesthetic quality of the corridor. Additionally, commercial zoning only extends one-half block deep from Boynton Beach Boulevard which represents insufficient land necessary to support the land assembly and redevelopment for viable commercial uses. As a consequence, business activity along the corridor has primarily consisted of minimal conversion of single-family houses to commercial uses rather than redevelopment at the scale envisioned for this Plan. Nearly all of the parking for the businesses along the Boulevard is a in front of the buildings meaning that in many cases, cars have to back out into traffic. There are numerous curb cuts for each commercial use along the corridor leaving little room for landscape improvements and the pedestrian zone. Due to the widening of the Boynton each Boulevard overtheyears, vehicular use has been emphasized over pedestrian or bike use. Under the current configuration of the roadway, there is insufficient right-of-way for landscaping, wider sidewalks, bike lanes, bus shelters and street furniture. Recently large utility poles were installed on the south side of the Boulevard adding to the visual blight of the corridor. There are only three signalized intersections that have formal pedestrian crossing zones. Pedestrians must walk several blocks in order to cross the Boulevard. There are no destinations along the corridor to attract the interest of visitors or residents other than City Hall and the Post Office. The majority of the businesses belong to the small service industry with few employees. The buildings are outdated, being constructed from the 1930's to the 1970's. The majority of the buildings are for single -tenant or single -use with no cross -access for pedestrian or vehicular circulation purposes or for sharing of parking resources. Additionally, there are no large parcels ready for redevelopment thereby requiring land assemblage and willing sellers. City Hall is located along Boynton Beach Boulevard but is envisioned to be relocated into the Cultural District as part of the Town Square project. City Hall and the other civic uses occupy 3.71 acres and offer an opportunity for a public-private partnership to facilitate a catalyst for redevelopment within the District. a Figure 11: Examples of Districts Planning Challenges m E IAMIn � a l l Uons NW 1 st Avenuei oris is ri : Several factors were considered in determining the The potential NW Ist Avenue historic district land use designations for the Boynton - .ch Boulevard contains thirteen.. -seven District.east along the District is the location of the would be consideredo • - future site of the Tri -Rail Coastal Link commuter service The designation process was applied but failed to on the FEC Rail line, which will serve the South Florida produce a positive result (although the outcome of metropolitan -gr` o improve land development th- vote was very close). a.. the patterns in advance of station development, - City designation of a historicdistrict be l :. explored adopted a Downtown Transit Oriented Development in the future if there isn't any assemblage of the District ! icovering - radius around the properties on the northr of Avenue planned station. The DTOD district regulations support commercial development. In the meantime, the increased intensity of development through a 25% owners of the "contributing" sites will be contacted density bonus.Boynton Beach Boulevard District to determine their interestapplying for individual and DTOD district overlap; only the area from 1-95 to designation of their properties. (approximately) f Street is not included within the DTOD District. iL,,. r w�a� a ., ., h A second consideration is that the Boynton Beach Boulevard District is entirely enclosed within the Transportation Concurrency Exception Area (TCEA) which, in addition to the residential exception area applicable east of 1-95, exempts all development from the Palm Beach County traffic concurrency thus allowing denser development. The Plan recommends that the higher density and height occur within this District where both the TCEA and the TOD overlap. M Figure 12: Historic Property on First Avenue The Boynton Beach Boulevard District is envisioned to serve as a welcoming and beautiful entry into the Downtown District Pedestrians will be shade Rmature treestovisit the variousstoresIrestaurants alongthe corridor. safely travel along the corridor and will be able to park their bikes at one of the local shops where they'll meet a friend for I of coffee. Visitors will 1:• able to find their way to the marina, the Children's Schoolhouse Museum corridor Investors will see the value of developing in downtown Boynton Beach based on the public improvements and will begin to assemble land for development of mixed-use projects. Streetscape enhancements - ♦ - f-! for should include: Implement 1 ! - -- progra for Boynton -ach Boulevard including tj addition 1i On -street parking • Minimum 8'wide active use area abutting the building • Decorative light poles at both the vehicular and pedestrian scales • Bike lanes • Enhanced street furniture, bus shelters, bike • Enhanced median with mature tree canopy racks and receptacles (at time of planting) and landscape lighting • Active uses along the first floor of development • Marking of major intersections with • Create a greenway along the north side of NW 1st materials such as pavers, paint, etc. Avenue per the Connectivity Plan • Narrowing of travel lanes to create space for landscaping and wider sidewalks and to make the street safer for bicyclists and pedestrians. ® Create a Pedestrian Zone adjacent to the right of -ways that is inviting, safe and includes: • Create way finding signage to mark the entry into the City and brand the district • Install public art in key locations • Provide additional pedestrian crossings where needed • Addition of canopy street trees It Underground overhead utilities • Minimum 8' wide clear sidewalk N Intersection enhancements� \ Directional signage Pavement / material Landscaping Public art location Safe pedestrian crossing « wr9\enhancements ?§*? Entry Downtown Directional signage Pavement / material Landscaping • Public y 2 location • ?vim pedestrian 2<#»%?4 | ■ Figure 17: Boynton Beach Blvd. Section from 1-95 to Seacrest Blvd. BN im I 0 . VER.MR-MM7.1 l-, x! t '10, M9 �T sw IID TL TL �2 sw D— ICIF Figure 18: Boynton Beach Blvd. Plan from Seacrest Blvd. to Federal Hwy. Figure 19: Boynton Beach Blvd. Section from Seacrest Blvd. to Federal Hwy. 63 The predominant existing future land use designation along the Boynton Beach Boulevard corridor is Local Retail Commercial. Other future land use designations are Public and Private and Governmental/ Institutional located) and Office Commercial.The Local Retail► - designation only •: • block to the northand south of Boynton Beach Boulevard. The lack of depth prevented successful projects from being developed along the corridor. In order to encourage a vibrant corridor - desired 1 development 1 public - following •% future •. use changes be. From 1-95 east to N.W. 1 st Street, change Local Retail Commercial and Low Density Residential to Mixed -Use Low. The Mixed -Use Low land use designation should extend the depth of the block north and south of Boynton Beach Boulevard. • From N.W. 1 st Street east to N.E. 3rd Street, change Local Retail Commercial, Public and Private Governmental/institutional, Medium Density Residential, General Commercial to Mixed -Use Medium Future Land Use. The Mixed -Use Medium land use designation should extend the depth of the block north and south of Boynton Beach Boulevard. From N. E. 3rd Street east to the FEC Railroad, change General Commercial, Industrial, Local Retail Commercial to Mixed -Use High future land use designation. The Mixed -Use High future land use designation should extend the depth of the block north and south of Boynton Beach Boulevard. Below is a table showing the proposed land use and zoning designations that will apply along the Boynton Beach Boulevard corridor: Table 3: Recommended Future Land Use (FLU) Classifications within the Boynton Beach Blvd District LAND USE DENSITY CORRESPONDING ZONINGDENSITY CAP H T Low DensityRIAAB, Residential PUD, MHPD 5 W Mixed -Use LoMU-1 20 '451 ix d- -2 40 65' Medium 50U MU -4 60 1 00. Mixed -Use Higha MU Core go 150' Properties located within the T®D may recieve a 26% density bonus - ZI I,JME@ "ONecornmended Future Land Use for »>; ?», Beach Bfvd, District 44 Low * 20 dulac (incentivized units) * Max height 46' Redevelopment I infill Commercial uses required Parking at rear Public greenway to buffer SFR Two story max at street Buildings set back to allow for pedestrian zone 1: Boynton Beach Town square 0 40- 50 du/ac 0 Max height: 65'-75' TOO Bonuses (height I density) Commercial uses required IN MU- Med f£»0»« Max height 65-76' TOD Bonuses (height / density) Commercial uses required Max 4 stories on street 52. 24§ G 60 © 80 du/sc Max §6!2 15{ 0 TOD Density Bonus a Commerciai uses required z Max 4 stories on street g� rytendations: Urban Des" reafe an ront.g- uh M fesign,uses,overal character. • The building shall be setback to accommodate the pedestrian zone. • Active commercial uses shall be required on the street frontage of Boynton Beach Boulevard. Automobile oriented uses, such as, gas stations and car washes, are prohibited. Drive-thrus are only permitted when not visible from right-of-ways and completely behind a structure. • Buildings fronting Boynton Beach Boulevard shall have maximized glazing on first floors. • Approximately 75% of the lot frontage must be occupied by structure and adjacent to the pedestrian zone. .. Buildings fronting Boynton Beach Boulevard shall have a minimum height of 30' • Buildings fronting Boynton Beach Boulevard shall be a maximum of 45' in height, any additional height permitted by the zoning districts must be stepped back proportionately to the overall height, a minimum of 10' deep. • Parking shall be located to the rear or side of the property. MU -L Land Uses are permitted to have one (single loaded) row of parking in front of the structure. • Only when access is not possible from the rear or side shall curb cuts be permitted on Boynton Beach Blvd. • All buildings along Boynton Beach Blvd shall have pedestrian access from the right-of-way/ sidewalks. • The main pedestrian entry, or front door, must be fronting Boynton Beach Blvd. • Mixed use projects adjacent to single-family areas shall include greenways for proper buffering Staff will review architectural styles and make recommendations regarding Architectural Guidelines that may enhance the character of the District. This process will include public input. Figure 22: Example Greenway Recommended on First Avenue Irk Figure 23: Example of Mixed Use Low Project on Boynton Beach Blvd. Figure 25: Boynton Beach Blvd. District Master Plan W m o 0 9 PROJECT UNDERSTANDING The CRA wishes to improve the Boynton Beach Boulevard corridor, which is owned and maintained by the Florida Department of Transportation (FDOT) as part of the revitalization of the urban core. The plan is to enhance aesthetics, make the corridor pedestrian and bicycle friendly and encourage revitalization. The improvements will be done in two stages. The first stage is to improve the corridor within existing right of way by narrowing lanes and expanding sidewalks to provide better landscape and hardscape opportunities. As redevelopment occurs, the engineering plans will be revised to consider additional right of way provided by developers. The design will be broken into phases to allow Client to stop and consider redevelopment conditions during the development of the project. Objective The primary objective of this project is to prepare engineering and urban design drawings to improve the Boynton Beach Blvd corridor. Phase 1 includes preparation of concept plans from just east of 1-95 to U-1 for the desired corridor features in accordance with the CRA master plan with the assumption that redevelopment will provide at a minimum one -foot -wide sidewalk 1 utility easement. Task 1— Base Map 1.1 Base Map Drawings Use existing aerial photography as the background for the proposed concept drawings along with FDOT provided as -built plans. Task — Concept Plan Development 2.1 Roadwayis and typical sections Coordinate with FDOT to arrive at acceptable roadway typical section concept for the Boynton Beach Boulevard segments east and west of Seacrest Boulevard in accordance with CRA Master Plan as shown in attached Exhibit No. 1. Upon typical section acceptance, prepare ss t('�5�, 9-M roadway concept plans and submit to Client and MOT for review and comments. Address one round of comments and finalize concept plan. 3.1 Landscape concept plans Upon acceptance of the roadway typical sections and plan view design, prepare landscape concept plans and submit to Client and FDOT for review. Address one round of comments and finalize concept plans. LO r -RE ON W I f-11 0 M I 4.1 Design Survey Prepare roadway design survey Task 6 — Roadway Plans 5.1 Roadway Typical Sections After completion of design survey, develop final typical sections for Client and FDOT approval. 9��= Upon FDOT's approval of typical sections, prepare engineering design plans to 30% completion for Client and FDOT review. V� I I a I -"M I I .............. .......... I ,tyy3��� I 1 ")' I 1 1,ss,SM WAO IN I I 01!1111'�'Ilf��� t t Design r -(Roadway, Landscape, Electrical, Lighting, Signing and Marking, Signal Plans) Coordinate with utility agency owners (UAOs) to underground the overhead utility lines. Prepare underground conduit trench typical sections and preliminary layout in coordination with UAOs. Upon receiving review comments on the 30% Phase plans, prepare engineering design plans to 60% completion for Client and FDOT review. &3 Signing and Pavement Marking Plans Upon receiving review comments on the 30% Phase plans, prepare initial pavement marking plans. &4 Signal Plans Upon receiving review comments on the 30% Phase plans, prepare initial signal modification plans related to pedestrian heads and detectors to match ramp and curb modifications. Upon receiving review comments on the 60% Phase plans, prepare initial landscape and hardscape plans for Client review. 6.6 Street Lighting Plans Upon receiving review comments on the 60% Phase plans, prepare initial decorative street lighting for Client review. j:/! r /. Task 7 — Final Engineering i... i 1 .<. - Electrical, Lighting, Signing and Marking, Signal Plans) 1 Upon receiving review comments on the 60% Phase plans, develop plans for 90% complete stage. This includes Kimley»>Horn • Roadway • Drainage s! • Electrical • Signingand pavement1 • Signals • Landscape and I' i lights• Street f � F Continue coordination with UAOs for the undergrounding of overhead utility lines. Conduct meeting with UAOs to resolve potential utility conflicts. Task 8 — Permitting FDOTPermiftinj Assist Client in completing permit applications and submit permit package to MOT Address FDOT permit review comments and resubmit for final permitting. 8.2 Palm ach County (PBC) Permitting Assist Client in completing permit applications and submit permit package to PBC for pedestrian signal modifications and any work on crossing County roadways. Address permit review comments and resubmit for final permitting. Incorporate comments and issue Final plans. Task 9 — Traffic Analysis 9.1 Pedestrian Crossings Prepare a traffic analysis and engineering study to determine the need for pedestrian crossings between 1-95 and Seacrest Boulevard. Consider providing median refuge locations for pedestrian safety. Incorporate approved crossings in design plans. , \t 4 ,(i tl KimlepMorn The following tasks are not part of the initial scope of services, but may be included as additional services W requested by the Client. These services may include, but are not limited to: • Attendance at additional meetings, including meetings with the City Commission, City staff, presentations and public hearings • Additional traffic data collection and analysis • Site/Civil Engineering beyond the roadway right of way • Environmental analysis and engineering SCHEDULE The schedule will be based on mutually agreed upon schedule. INFORMATION PROVIDED BY CLIENT Kimley-Horn shall be entitled to rely on the completeness and accuracy of all information provided by the Client or the Client's consultants or representatives. KimlepOorn FEE AND BILLING Kimley-Horn will perform the services described in all Phases above for the lump sum professional fee below. Kimley-Horn will not start a new phase until written authorization is provided by Client. Individual task amounts are informational only. In addition to the lump sum labor fee, direct reimbursable expenses such as express delivery services, fees, air travel, and other direct expenses will be billed at 1.15 times cost. All permitting, application, and similar project fees will be paid directly by the Client. Lump sum fees will be invoiced monthly based upon the overall percentage of services performed. Reimbursable expenses will be invoiced based upon expenses incurred. Payment will be due within 25 days of your receipt of the invoice. A Phase 1. Concept Plans Development Phase 2: Initial Engineering Plans 30% $68X0 $115X0 Phase 3: Design Development 60% $145,000 Phase 4: Final Engineevin g Plans $229,000 TOTAL $557,000 Re 6e-7 - imbursable Expeiis-e-Allowan $3,006. Kimley-Horn, in an effort to expedite invoices and reduce paper waste, submits invoices via email in an Adobe PDF format. We can also provide a paper copy via regular mail if requested. Please provide the following information: Please email all invoices to Please copy In addition to the matters set forth herein, our Agreement shall include and be subject to, and only to, the attached Standard Provisions, which are incorporated by reference. As used in the Standard Provisions, "Consultant' shall refer to Kimley-Horn and Associates, Inc., and "Client" shall refer to Boynton Beach Community Redevelopment Agency. Our current rate schedule has also been attached. If you concur in all the foregoing and wish to direct us to proceed with the services, please have authorized persons execute both copies of this Agreement in the spaces provided below, retain one copy, and return the other to us. We MI commence services only after we have received a fully - executed agreement. Fees and times stated in this Agreement are valid for sixty (60) days after the date of this letter. We appreciate this opportunity to provide these services to you. Please contact us at (561) 404-7250 if you have any questions. Sincerely, $ Marwan H. Mufleh, P.E. Senior Vice President am "MT V-, .r. =- - Witness MOM= KOCD Roadway1042482002— SeacreSt Blvd Lane El Im InationWHA F11WC ontractSOS-2016.10.03-13 BB Modification Phasinj- CRA.MHM.doex ATTACHMENT Design Proposal from US-1 toSeacrest • # �I ��r°•e')5 �� PROJECT UNDERSTANDING The CRA wishes to improve the Boynton Beach Boulevard corridor, which is owned and maintained by the Florida Department of Transportation (FDOT) as part of the revitalization of the urban core. The plan is to enhance aesthetics, make the corridor pedestrian and bicycle friendly and encourage revitalization. The improvements will be done in two stages. The first stage is to improve the corridor within existing right of way by narrowing lanes and expanding sidewalks to provide better landscape and hardscape opportunities. As redevelopment occurs, the engineering plans will be revised to consider additional right of way provided by developers at those specific locations. The design will be broken into phases to allow Client to stop and consider redevelopment conditions during the development of the project. Objective The primary objective of this project is to prepare engineering and urban design drawings to improve the Boynton Beach Blvd corridor. Phase I includespreparation of concept plans• -acrest Blvd. to US -1 for the desired corridor features in accordance with the CRA master plan with the assumption that redevelopment will provide at a minimum one -foot -wide sidewalk / utility easement. Task I — Base R„ 1.1 Base Map Drawings Use existing aerial photography as the background for the proposed concept drawings alo with FDOT provided as -built plans. ConceptPlan Development 2.1 Roadwayplans;1 typical'o Coordinate1# - at acceptable roadway typical section• - . • ynt Beach Boulevard segments east of Seacrest Boulevard in accordance with CRA Master P1 as shown in attached Exhibit No. 1. Upon typical section acceptance, prepare roadway conce "Am' vw"� 4 z " t C 3fi� `�l�t�f Jif fI�a i JZl plans and submit to Client and MOT for review and comments. Address one round of comments and finalize concept plan. 3.1 Landscape concept plans Upon acceptance of the roadway typical sections and plan view design, prepare landscape concept pians and submit to Client and FDOT for review. Address one round of comments an4 finalize concept plans. Phase 2 includes preparation of design survey and Initial Engineering plans (30%) for Boynton Beach Boulevard from Seacrest Blvd. to US -1. All improvements will be d- -i within existing right of way and any potentially donated right of way or easements as provided by Client. 4.1 Design Survey Prepare roadway c;- '.,. e Roadway Typical Sections After completion of design survey, develop final typical sections for Client and FDOT approval. Upon FDOT's approval of typical sections, prepare engineering design plans to 30% completion for Client and FDOT review, :29 Phase 3 includes preparation of Design Development engineering plans (60%) for Boynton Beach Boulevard from east side of Seacrest Blvd. to US -1 and design to underground overhead existing utilities. All improvements will be designed within existing right of way and any potentially donated right of way or easements as provided by Client. The Final engineering will consider redesign to incorporate on -street parking for those parcels that donate right of way. ag ! qg;7�' V �A Kimley»)Horn Task 6 — Design Development (Roadway, Landscape, Electrical, Lighting, Signing and Marking, Signal Plans) 1.1 Undergrounding of Electrical Overhead Lines Coordinate with utility agency owners (UAOs) to underground the overhead utility lines. Prepare underground conduit trench typical sections and preliminary layout in coordination with UAOs. Design will consider the future undergrounding of the lines west to 1-95. 17MMIT-7-7.7 MI Upon receiving review comments on the 30% Phase plans, prepare engineering design plans to 60% completion for Client and FDOT review. Upon receiving review comments on the 30% Phase plans, prepare initial pavement marking plans. Upon receiving review comments on the 30% Phase plans, prepare initial signal modification plans related to pedestrian heads and detectors to match ramp and curb modifications. Upon receiving review comments on the 60% Phase plans, prepare initial landscape and hardscape plans for Client review. Upon receiving review comments on the 60% Phase plans, prepare initial decorative street lighting for Client review. Task 7 — Final Engineering (Roadway, t f: i•Electrical,Lighting, Signing Marking, Signal Plans) Upon receiving review comments on the 60% Phase plans, develop plans for 90% complete stage. This includes ;Sll ti} irS tl({t �!�}t#�r)j4st{t1J 2j1tS{�7`ttt%}!�{t)jj`,S 1�j�1t J�`j'. iS4)?t, i»f{, dtr�tS}l} 1}\}ii$ \�i)i}64 }���{'�}f `S �;I f�'{�F$"{ 5„4 .... " Y.'', i!� c M011 r ! tS • Roadway • Drainage • Electrical • Signing and pavement marking • Signals • Landscape ! ! ! • Street lights r� Continue coordination with UAOs for the undergrounding of overhead utility lines. Conduct meeting with UAOs to resolve potential utility conflicts. .; 1.1 FDOT Permiffing Assist Client in completing permit applications and submit permit package to FDOT. Address FDOT permit review comments and resubmit for final permitting. Assist Client in completing permit applications and submit permit package to PBC for pedestrian signal modifications and any work on crossing County roadways. Address permit review comments and resubmit for final permitting. .3 Final Plans Incorporate comments and issue Final plans. SERVICESADDITIONAL The following tasks are not part of the initial scope of services, but may be included as additional services if requested by the Client. These services may include, but are not limited to: Attendance err r meetings, r meetings with the City Commission, presentations r public hearings Additional data • - oand analysis Engineering beyond the roadway r of way Environmental ♦ engineering `4�,.' i� ,, `1} t1;1, i; jl t, l.. {t �J; s t 1 if I'M(: t't 11& B,, -1 tyj7'j��(?\i it { ,kfi S{ii ��t )i s£f)�P4�f{$`1's1:-1}tS�19J?i�}`f P11's)`Ri P�� )hf3'? {tt ��ip 'tt`+�- }s11z�1i� �4_ a Kimley>»Horn The schedule will be based on mutually agreed upon schedule. INFORMATION PROVIDED BY CLIENT Kimley-Horn shall be entitled to rely on the completeness and accuracy of all information provided by the Client or the Client's consultants or representatives. Kim ley- Horn will perform the services described in all Phases above for the lump sum professional fee below. Kimley-Horn will not start a new phase until written authorization is provided by Client. Individual task amounts are informational only. In addition to the lump sum labor fee, direct reimbursable expenses such as express delivery services, fees, air travel, and other direct expenses will be billed at 1.15 times cost. All permitting, application, and similar project fees will be paid directly by the Client. Lump sum fees will be invoiced monthly based upon the overall percentage of services performed. Reimbursable expenses will be invoiced based upon expenses incurred. Payment will be due within 25 days of your receipt of the invoice. PHASE LUMP SUM FEE Phase 1: Concept Plans Development $48,000 Phase 2: Initial Engineering Plans 30% $87,000 Phase 3: Design Development0% Phase 4: Final Engineering Plans $130,000 TOTAL $363,000 • 47 ' 0=11 Kimley-Horn, in an effort to expedite invoices and reduce paper waste, submits invoices via email in an Adobe PDF format. We can also provide a paper copy via regular mail if requested. Please provide the following information: Please email all invoices t Please copy llll���ll�iiylig})�tk �kp,�'{h� lZj�''�till�tih�llr �)a '��SI�}�i}1kt'A"11N�1",#�i��i }lS�k�k41111Ii,ltttstttls?F'ltt,.nrF,rrl 11144444s44�tll.sr\.lt„ },;�„„,fr r },seal Kimley)))Horn In addition to the matters set forth herein, our Agreement shall include and be subject to, and only to, the attached Standard Provisions, which are incorporated by reference. As used in the Standard Provisions, "Consultant" shall refer to Kimley-Horn and Associates, Inc., and "Client" shall refer to Boynton Beach Community Redevelopment Agency. Our current rate schedule has also been attached. If you concur in all the foregoing and wish to direct us to proceed with the services, please have authorized persons execute both copies of this Agreement in the spaces provided below, retain one copy, and return the other to us. We will commence services only after we have received a fully - executed agreement. Fees and times stated in this Agreement are valid for sixty (60) days after the date of this letter. We appreciate this opportunity to provide these services to you. Please contact us at (561) 404-7250 if you have any questions. M 1= Title: F-- r. r. rrx-- M - Witness NMMML9M= K."BCD—RoadwayXD424S2Oa2—Seacrest EM Lane EftineWWRA File%XContracfGOS-2016.10.02LBBB Modlfiuffion Phasing_Seacreat to US-1—CRA—MHM.dorx \11",��"ill,�"1)2"1;"��'J)t�� A 1, 0� . ........ If ! "'111114 Old Business I I New Business I I Legal I I Information Only— FXCI4►1.711111111'=I,FI I0 Review and Discussion of ILA for the Funding of the Neighborhood Sustainability – Community Standards Outreach Coordinator SUMMARY: At the August 17, 2016 CRA budget meeting, the CRA Board voted to fund a Community Standards Outreach Coordinator positon as part of the CRA's Clean & Safe Program. This position is part of the Community Standards division of the City of Boynton Beach, which reports to the Fire Department. The position will be dedicated solely to the Community Redevelopment Area. The proposed ILA, Program Description, Budget and Organizational Chart are attached. The attached has been reviewed by both the City and CRA Legal counsel. The goals of the Program and Position for FY 2016-2017 are: • Understand the CRA Redevelopment Plans and goals. • Have a working knowledge of CRA grants and programs. • Meet with the CRA Executive Director twice a month. • Assist in establishing goals which are SMART (Specific, Measurable, Attainable, Realistic, & Timebound) • Engage residents and business owners. • Provide emphasis on responsible community code enforcement. • Implement special initiatives to resolve neighborhood specific solutions to comply with City Codes, State Laws, and Regulations. • Provide CRA residents and businesses with solution -oriented Issue resolutions. • Assist with public education and violation prevention within the CRA Redevelopment area. • Identify specific problems within the CRA Redevelopment area and help with the coordination of CRA resources and other City services to resolve violation issues. • Personnel assigned to this function shall work a minimum of 40 hours a week. Thirty of these hours will be spent in the community, building relationships, collecting information and providing resources and information to residents and business owners who seek to promote positive change within their neighborhood. Specific emphasis should be given to those actions which will contribute to the attainment of the goals established with Community Standards Program within the CRA Redevelopment area. In addition: Personnel assigned to this function will be furnished with equipment as specified in the budget for FY2016-2017, provided such equipment does not violate statutory designated expenditures. 00742755-1 • CRA staff shall be informed of the Neighborhood Sustainability, Community Standards Outreach Coordinator's hours on a regular basis. • The CRA shall be provided with an organizational chart of the Community Standards department. • The CRA shall be provided a quarterly written report outlining the following: a Hours worked by the CRA Community Standards Outreach Coordinator o Activities undertaken to achieve the goals of the Program o Relevant statistics for the reporting period. • At the end of the fiscal year, the Community Standards Department shall provide a written report summarizing the goals achieved along with a statistical report and associated map. Included in the report shall be recommendations for Program changes for the next fiscal year. • Funding for the Program shall be appropriated annually at the discretion of the CRA Board. • CRA Board approved funding for the Program, Fiscal year 2016-17, shall be in the amount of $134.000 as described in the agreement. If approved by both Boards, the City and CRA will enter into an Interlocal Agreement for the reimbursement of Program eligible and direct expenses incurred by the City. The City shall invoice the CRA each quarter for direct program expenses while the Program is operational not to exceed the approved funding. While the CRA will provide funding to support this program, operational and supervisory control remains with the City's Community Standards Department FISCAL IMPACT: $134,000 — FY 2016-2017 Budget, line item: 02-58500-461 CRA PLAN/PRO 2016 Boynton Beach Community-_ _• - i .18T A01 -Y-114:4 • ! CommunityCRA BOARD MOTIONIOPTIONS: Approve the ILA for the Neighborhood Sustainability, r •s Outreach CoordinatorProgram. 00742755-I THIS AGREEMENT is made this day of . 2017 by and between e CITY OF BOYNTON BEACH, a Florida Municipal Corporation, ("City"), and e BOYNTON BEACHCOMMUNITY REDEVELOPMENT AGENCY, ("CRA") (individually and collectively, the "Party" or "Parties"). the C 's Neighborhood Sustainability, Community Standards Program ("Program") is intended to improve the quality of life for area residents and to increase private investment within the Community Redevelopment Area ("Redevelopment Area") by ensuring customers receive a high level of service, customer accessibility, timely communications, effective outreach, education and problem resolution with the goal of strengthening the relationship with residents and business community and ensuring the highest level of customer satisfaction with respect to the provisions of the City and ordinances and policies, including those specific to the Redevelopment Area; and WHEREAS, the goal of the CRA's Redevelopment Plan is the elimination of slum and blighted conditions in the Redevelopment Area is; and WHEREAS, the Program has jurisdiction within the Redevelopment Area; and the City desires to provide the CRA with the management for the Program under the terms of the Program shown in Exhibit "A;" and WHEREAS, the CRA Board finds that this Agreement, and the use of the C 's funds to implement a portion of the Program that specifically serves the Redevelopment Area is consistent with the Community Redevelopment Plan and Florida Statutes; and 06742721_1 e to the intended elimination of slum and blighted conditions, the beneficial economic impact of the Program, the CRA and the City find that this funding agreement serves a municipal and public purpose, and is in the best interest of the health, safety, and welfare of the residents and business owners of the City, including those within the Redevelopment Area; NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the Parties hereby agree as follows: I . Recitals. The recitals set forth above are hereby incorporated herein. 2. Obligations of the CRA. The CRA shall provide funding to the City in the maximum amount of One Hundred Thirty Four Thousand and 00/100 Dollars ($134,000.00), for the Program to be used for reimbursement of the costs associated with employing and equipping one Community Standards Outreach Coordinator specifically dedicated to the Redevelopment Area ("Coordinator"), as further described in Exhibit "A." Upon receipt of a complete, written request from the City, the CRA shall make payments to the City on a quarterly basis for the reimbursement of direct expenses related to the Coordinator In order to be deemed complete, the written request from the City for payment must include all payroll and program documentation, a copy of the Coordinator's work schedule, and copies of receipts indicating the amount and the purpose for the payment for which the City is seeking reimbursement. The CRA shall remit payment to the City within thirty (30) days of receipt of a complete request from the City. 3. Obligations of the City. On a quarterly basis, the City shall provide a report to the CRA regarding the Program as it was implemented within the Redevelopment Area for that quarter. The report shall detail the activities of the Coordinator for that quarter and all other information Exhibit "A" states will be contained the quarterly report. 00742726-6 F.M171 . r 1 1 ITWM1 . ` ! 1.. may be asserted, claimed, or recovered against or from the CRA, its agents, or its sustained by any person whomsoever, which damage is incidental to, occurs as a result of, arises out of, or is otherwise related to the negligent or wrongful conduct or the faulty equipment (including equipment installation and removal) of the Coordinator or the Program. Nothing in this Agreement shall be deemed to affect the rights, privileges, and sovereign immunities of the CRA as set forth in Section 768.28, Florida Statutes. This paragraph shall not be construed to require the City to indemnify the CRA for its own negligence, or intentional acts of the CRA, its agents or employees. Each party assumes the risk of personal injury and property damage attributable to the acts or omissions of that party and its officers, employees and agents. 5. Term of the Agreement. This Agreement shall become valid and commence upon execution by the last Party to this Agreement, and shall terminate on September 30, 2017 ("Termination Date"). The CRA shall not be required to reimburse the City for any requests submitted after the Termination Date. The term of the Agreement may be extended one time and may only be extended upon approval by the CRA Board and upon the appropriation of CRA funds for this Agreement in the subsequent fiscal year's budget . Such extension is only effective upon the execution of a written amendment signed by both Parties. Nothing in this paragraph shall be construed so as to affect a Party's right to terminate this Agreement in accordance with other provisions in this 00742721-1 11111111 11iIIIIJI III ri 111111 P111 11111�1111!11 !I ill�illillilill , 111111 !1111 111111 11 1111plilill k -.4 1 91 .. .1 1 MIMI 11 � I . I I I III I I � III 1plyipt= M IIMIIMIII I III !111 11 1 1! 111 11! 1! 111 1 111 . . - . . - -. 11�!!I !111 1 111 111 !1 iron ITMOM-70UMM "14 M-11 1 1111 T r, I M. I K 11 �� i I I 1 ?1111 1 VOMM I COMM � � I V I � I I I I I � I � M I ��� I I I . $ .I during the term of this Agreement and at least 1 year after the termination of the 7. Fil1mg. The City shall file this Interlocal Agreement pursuant to the requirements of Section 163. 01 (11) of the Florida Statutes 8. Default. If either Party defaults by failing to perform or observe any of the material terms and conditions of this Agreement for a period of ten (10) calendar days after receipt of written notice of such default from the other Party, the Party giving notice of default may terminate this Agreement through written notice to the other Party, and may be entitled, but is not required, to seek specific performance of this Agreement on an I III IIIIII;Ipliii POP,", 11111111p1�11111 1 11 - I . - L=1 relate to the health, safety, and welfare of the residents of the City and Redevelopment Area. . Failure of any Party to exercise its right in the event of any default by the other Party shall not constitute a waiver of such lights. No Party shall be deemed to have waived any rights related to the other Party's failure to perform unless such waiver is in writing and signed by both Parties. Such waiver shall be limited to the terms specifically contained therein. This section shall be without prejudice to the rights of any Party to seek a legal 00742721-1 • �. 51 ! 1 +', " 1 1 Al I 1; •no VAMM statutes, laws, ordinances, rules, regulations and lawful orders of the United States of America, State of Florida and of any other public authority which may be applicable. 11. Entire Agreement. TAgreement 11111 1111111 1111111111111 loll 111111111 herein. No terms herein may be altered, except in writing and then only if signed by all the Parties hereto. All prior and contemporaneous agreements, understandings, communications, conditions or representations, of any kind or nature, oral or written, concerning the subject matter expressed herein, are merged into this Agreement and the terms of this Agreement supersede all such other agreements. No extraneous information may be used to alter the terms of this Agreement. 12. Severability. If any part of this Agreement is found invalid or unenforceable by any court, such invalidity or unenforceability shall not affect the other parts of the Agreement if the rights and obligations of the parties contained herein are not materially prejudiced and if the intentions of the parties can continue to be achieved. To that end, this Agreement is declared severable.. 13. Governing Law and Venue. The validity, construction and effect of this Agreement shall be governed by the laws of the State of Florida. Any and all legal actions necessary to enforce the terms of this Agreement shall be conducted in the Fifteenth Judicial Circuit in and for Palm Beach County, Florida, or, if in federal court, in the United States District Court for the Southern District of Florida, to which the Parties expressly agree and submit. 00742721-1 orientation or disability for any reason in its hiring or contracting practices associated with 1'r 11, 1111 !4 - $1 notice must be in writing and sent by United States mail, return receipt requested, courier, evidenced by a delivery receipt, or by overnight express delivery service, evidenced by a delivery receipt, addressed to the Party for whom it is intended at the place last specified; and the place for giving of notice shall remain until it shall have been changed by written notice in compliance with the provisions of this paragraph. For the present, the Parties designate the following as the respective places for giving of notice. CITY: Lori LaVerricre, City Manager City of Boynton Beach 100 E. Boynton Beach Boulevard Boynton Beach, FL 33435 CRA: Michael Simon, Interim Executive Director Boynton Beach CRA 710 N. Federal Highway Boynton Beach, Florida 33435 Copies To: James A. Cherof Goren, Cherof, Doody & Ezrol, P.A. 3099 East Commercial Boulevard, Suite 200 Fort Lauderdale, Florida 33308 Tara Duhy, Esquire Lewis, Longman & Walker, P.A. 515 North Flagler Drive, Suite 1500 West Palm Beach, Florida 33401 FIEWM =1 11111,1111,1111,111 =11'' lo I 11111111:1,Lilllr,�ol 1! 111111 6:111mi(0)l 0 A 0 A --- 11 Is I 17. Interpretation. This Agreement shall not be construed more strictly I I I- I - I - - 0 14 - 11 �o � Agreement as of the date set forth above. F.11 W I w" Judith Pyle, City Clerk Approved as to Form: Approved as to Form: rumwmm��� 00742721-1 CITY OF BOYNTON BEACH, a Florida municipal corporation Steven B. Grant, Mayor Em By: Steven B. Grant, Chair • k 0- BO"Y" NN'li B . EL..r 1 9 � o itoW 0 The Neighborhood Sustainability, Community Standards Program is designed to assist the public, including private residents and business owners, to ensure customers within the Community Redevelopment Area receive a high level of service, customer accessibility, timely communications, effective outreach, education and problem resolution with the goal of strengthening the relationship between the City of Boynton Beach Community Standards Department and residents and business community to ensure the highest level of education, outreach and satisfaction with respect to the provisions of the City of Boynton Beach code of ordinances and policies. A major goal of the Neighborhood Sustainability, Community Standards Outreach Program is to cultivate high levels of mutual trust, understanding and respect between the CRA Community Standards Outreach Coordinator and the residents and business within the Community Redevelopment Area. In order to achieve this, it is necessary that the Community Standards Outreach Coordinator develop relationships which transcend the confines of ordinary community standards activities and instead focuses upon building sustainable problem solving partnerships. Additionally, building problem solving partnerships and substantive relationships with invested members of the community will lead to a greater understanding of some of the challenges members of the public and businesses face and will help the Community Standards Outreach Coordinator garner unique insights which might aid in addressing these challenges. This program is designed to help effectively integrate the assigned Community Standards Outreach Coordinator into the fabric of the CRA community. 00742748-1 1 Reducing slum and blight and improving the quality of life within the Community Redevelopment Area requires the development of these types of productive and meaningful relationships between citizens and representatives of their local government. Neighborhood Sustainability, Community Standards personnel are postured to serve as a catalyst to an array of CRA r City services, community! and community.organizations which can aid those in need as they work to better their circumstances and work in concert with other community partners to confront the challenges they identify within the The City of Boynton Beach Community Standards Department shall make all necessary efforts to achieve the following CRA Program Goals and Activities. The assigned CRA Community Standards Outreach Coordinator will, in addition to the Essential Function of the job description: • Understand the CRA Redevelopment Plans and goals. • Have a working knowledge of CRA grants and programs. • Meet with the CRA Executive Director twice a month. • Assist in establishing goals which are SMART (Specific, Measurable, Attainable, Realistic, & Timebound) • Engage residents and business owners. • Provide emphasis on responsible community code enforcement. • Implement special initiatives to resolve neighborhood -specific solutions to comply with City Codes, State Laws, and Regulations. • Provide CRA residents and businesses with solution -oriented issue resolutions. • Assist with public education and violation prevention within the Community Redevelopment Area. • Identify specific problems within the Community Redevelopment Area and help with the coordination of CRA resources and other City services to resolve violation I Work a minimum of 40 hours a week. Thirty of these hours will be spent in the community, building relationships, collecting information and providing resources and information to residents and business owners who seek to promote positive change within their neighborhood. Specific emphasis should be given to those actions which will contribute to the attainment of the goals established with Community Standards Program within the Community Redevelopment Area. Further, the CRA and the City agree: Personnel . • -• to this functionbe -• with equipment as specified in the budget for1 . 1 provided equipment does not• ,statutory designated expenditures. 011742748-1 2 staff shall be informed ei h rSustainability,unity Standards re c iatrhours on a regular basis. • The CRA shall be providedwith an organizational chart of the Community Standards partet. • The CRA shall be provided a quarterly written report outlining the following: o Hours worked by the CRA Community Standards Outreach Coordinator o Activities undertaken to achieve the goals of the Program o Relevant statistics for the reporting period. • At the end of the fiscal year, the Community Standards Department shall provide a written report summarizing the goals achieved along with a statistical report and associated map. Included in the report shall be recommendations for Neighborhood Sustainability, Community Standards Program changes for the next fiscal year. • Funding for the Neighborhood Sustainability, Community Standards Program shall be appropriated annually at the discretion of the CRA Board. • The CRA Board approved funding for the Neighborhood Sustainability, Community Standards Program for Fiscal year 2016-17 shall be in the amount of $134,000 as described in Attachment I to this Exhibit, which is hereby incorporated as if fully set forth herein. • This document may be incorporated as an Exhibit to an Interlocal Agreement between the City and the CRA for the reimbursement of certain eligible and direct expenses incurred by the City associated with the Neighborhood Sustainability, Community Standards Program. The City shall invoice the CRA each quarter for direct program expenses while the Neighborhood Sustainability, Community Standards Program is operational, not to exceed the approved funding. • While the CRA will provide funding to support this program, operational and supervisory control remains with the City's Community Standards Department. oo7az7"-i 1 NOTE: All amOunts Provided �r F a: IT r .*y to r to r C5 d# m .' ® w �• - w� IM m Lu +✓ d Iy; y L a CL LD Lu Y C m bm ti.r L To E C � L py D U Fa m'a V C v C C St p9 V 4k- °moNo m ~ E © c tom) N z mo w a C: ° O � � m d C Qu m wg « d- v z s Z i5 42 3 c Q c c api f° m i m v v w mam w E.�AO2tj d« n v m E a s o S `mm' •� a _ c � a p c JR i p« api •_ �� E m a m o •2 o S W � a d �� c p a p O c m U c c d m� % h� � >•� u� � .4�N N m m c �� w 0 o m Era m� oa Us _ a 5 m > U v Q m> a E a t m w msd. o s m h m y CL of o v d a w aci « o m no w a m m t v a a E> 'm c a d m m a s a Rm vJ m yd Lv =� cam g14 mN v �'H �� 75 to D7 3� o m d 4 E m aci d m a E H `a o� m p 3 E cd M zs on ma E EoW 0 `m wE z.Qsa(ya v mm� U K m 5 w JAL C V) 4- Ln 0 .0 ai cc oc 12, ca C) co VA O H U W J Q V H CJ z H f - H X W ' � . �'_ .. . 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