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Agenda 08-02-18 t [O N� N' 'k B �r v H y,1 RA CRAAdvisory Board Meeting Thursday,August 2, 2018 -6:30 PM City Commission Chambers 100 E. Boynton Beach Blvd. Boynton Beach, FL 33435 561-737-3256 ADVISORY BOARD AGENDA 1. Call to Order 2. Invocation 3. Roll Call 4. Agenda Approval A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda 5. Information Only A. Financial Report Period Ending for June and July, 2018 Revised 6. Public Comment 7. Consent A. CRAAdvisory Board Meeting Minutes- June 07, 2018 8. Assignments A. Pending Assignments B. Reports on Pending Assignments C. New Assignments 1. Consideration and Discussion of Fiscal Year 2018/2019 Budget 9. CRA Board Items for CRAAdvisory Board Review and Recommendations A. Old Business B. New Business 1. Consideration and Discussion of the Letter Submitted by the Community Caring Center Boynton Beach, Inc. (CCC), for their property located at 145 NE 4th Ave, Boynton Beach, Florida 2. Consideration of Registration and Travel Expenses to Attend the Florida Redevelopment Association 2018 Annual Conference on October 24-26, 2018 in Fort Myers, Florida 3. Consideration of Purchase of the Property Located at 106 NE 3rd Revised Avenue 10. Future Agenda Items 11. Adjournment Notice THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITHA DISABILITYAN EQUAL OPPORTUNITY TO PARTICIPATE INAND 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 CRNS WEBSITE. INFORMATION REGARDING ITEMS ADDED TO THE AGENDAAFTER IT IS PUBLISHED ON THE CRNS WEBSITE CAN BE OBTAINED FROM THE CRA OFFICE. t 'k [OYNBN �r � � Y11 RA ADVISORY BOARD ITEM 5.A. INFORMATION ONLY SUBJECT: Financial Report Period Ending for June and July, 2018 SUMMARY: Attached is the monthly budget report representing the revenues and expenses for June 2018 (Attachment 1). There is a new and improved financial analysis beginning with July 2018. Statement of Revenues, Expenditures and Changes in Fund Balance Report (Attachment 11); Budget Comparison Schedule - General Fund (Attachment 111); and Monthly Budget Report to the CRA Board representing the revenues and expenses for the preceding month (Attachment IV). An In Kind analysis report has been prepared to identify activities related to the facilities of the Boynton Beach Congregational Community Church and Historic Woman's Club of Boynton Beach. A fair market value analysis as related to rentals, reflects potential rental income that will be provided as in-kind services. The analysis reflects over the term of the agreed usage periods (Attachment V). CRA P LAN/P ROJ ECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan and FY2017-2018 CRA Budget CRA BOARD OPTIONS: Approve the CRA's Financial Report Period Ending June 30, 2018 and July 31, 2018. ATTACHMENTS: Description D Attachment I -June 2018 Financial Report D Attachment II -Statement of Revenues, Expenditures and Changes in Fund Balance Report D Attachment III - Budget Comparison Schedule D Attachment IV -July 2018 Financial Report D Attachment V - In Kind Analysis July 2018 I H 0 0 z Ngo 00 O 0.i W I-III II O c7 'z N O O Oo m N N In - o m m O o O 61 opo o �o mmm - - - Lo o - In NN lnII a oIno v N II o moo Inm o omln mo (n II � ca c � � m O m II m rl Ln Ln 1N Ln O c , N O o O II N w CG W O m c0 In oN H m N o m N o o ,� N O O m Lo N N O N II In m In In m Ln o o Ln z cO ON O II m N10 10 N Om ONO II m o 0 0 0 o o 0 Lo 0 0 Lo 0 0 Lo 0 o 0 0 0 o o W II II � u u oo oov o II N 000 ooln o � 000 ooc� II o ca o0 00 o O II �0 000 LnOO O � 000 000 II w • II cG oo oo o o 000 (mom o - 000 000 m II m w N In o II O oQ O c O O H h II N o N II W II II II II om Ino v II In moo Lo oLo Orlin - oo II N w O c� m O o II Oc� o Oc� c N O O m II H �oLn o NO nom o ,� � Inlnln N II In H m ca c� N � ,� �o o� II � � � Lo oInN H I m 1 O N In m 61 N rl 6l m 6l N11 N N m O n H a nom o II o N �o ,� � � � � � � m oo - N II N rl rl o N rl o In m In a' a' a' a' In 'Z CG 0. 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II c W U CC O W co z O U H > o > z wco w coco wH w z w z W W a z > � > w z �a N N co z N H O w z o z o o N co woa H oa w I co l0 H 61 H In I z co I O x � O a I w w N w N z 0 x H 0 w z o H 0 o O 0 cC H 0 N In U' U U l0 U U P m H z 00 (1) 00 0 0 GW H O 00 0 00 0 0 ca H oo �OLOO cW7 � w C a 00 m o 0 m m ca o o 0 1 w CCW OO CD 0 w c� oo - 0O u < o 0 0 z a In In W 0 0 0 0 0 0 0 0 0 0 0 0 0 w SCC 00 000 0 0 El wQ O ElU z w 00 � o U w o o 1 o N N Ca H w w 00 LO 0 m m H 00 0 0 H H l C C O O H In o In In mm C x H o U 0 O o 0 0 o U o 0 a o 0 0 0 0 0 0 x w x CH El 000000 0 C) a H w x H � a w Hz H z O H zH " u O h H 0 w •• o x w o x O 00 o O0 LO LO w o o LO o o LO LO cn ca H oo LO - o a a w Q CW7 00 O O W Z Q O In In w CC 0 0 0 LO U LO LO a o o LO o o LO LO ry' H 00 L0 - O M z w H c7 0 0 M ,� ,� 0 0 U' f� o CC m O H N N W ry ry H H W H H W W U U CC CC H z z w w z H H H H w CC CC z z c� w 0 0 0 0 H w o 0 0 o H w w H cn N N N N U U cn U El co > w 0 2 C 0 0 0 C w a O O O O w w x w H w H z > cn 'z - LO o H H H W U FC U U W W U] H H H Q Q 2 ca � 00 000 'z o HCC w w CC 0 000 a H a El cn W M M M M M FC Cu FC W co H CO 6l 6l 6l 6l 6l H H Q CI I I L I O C O H F( U H H W H InInIII 0 0 0 0 0 o0 000 H 0 q q a q 0 u v N 2 o II o G W H o m w II FC c4 ca � II o w II - � u ca o IIII o w II a cC o II o El wx O El U I I z u w u w o Ca N II w w II H ca c� o II m N o x w x c> cG H o El o II m rC -a N II � w H x w z x z o N z N o h N ca u z w ax O w cn Ca N IIII � � Q cw7 o IIII w � x N IIII u w u c4 I I �n II o N IIII � Q o IIII o N u w c4 x N H ca z w cn a w x � w N H cn c4 cwr� O w O o N cC w H x cn i w w N x El w w N w 0 N o N BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach,Florida) Statement of Revenues,Expenditures and Changes in Fund Balances Through Year to Date-July 31,2018 Total Debt Service Governmental General Fund Projects Fund Fund Funds REVENUES Tax increment revenue $ 11,776,328 $ $ $ 11,776,328 Marina Rent&Fuel Sales 901,990 901,990 Contributions and donations - - Interest and other income 92,338 1,191,103 6,688 1,290,129 Total revenues 12,770,656 1,191,103 6,688 13,968,447 EXPENDITURES General government 2,440,901 - - 2,440,901 Redevelopment projects - 7,502,708 7,502,708 Debt service: - Principal - - - Interest and other charges - - 233,808 233,808 Total expenditures 2,440,901 7,502,708 233,808 10,177,417 Excess(deficiency)of revenues over expenditures 10,329,755 (6,311,605) (227,120) 3,791,030 OTHER FINANCING SOURCES(USES) Funds Transfers in - 9,681,225 2,140,955 11,822,180 Funds Transfers out (11,822,180) - - (11,822,180) Total other financing sources(uses) (11,822,180) 9,681,225 2,140,955 - Net change in fund balances (1,492,425) 3,369,620 1,913,835 3,791,030 Fund balances-beginning of year 4,249,519 9,286,312 78,291 13,614,122 Fund balances-end of year $ 2,757,094 $ 12,655,932 $ 1,992,126 $ 17,405,152 Footnote: Transfers between funds include monies received from TIF and caryover from general fund fund balance. The notes to the basic financial statements are an integral part of this statement. I BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach,Florida) Budgetary Comparison Schedule General Fund Through Year to Date-July 31,2018 Original Budget Final Budget Actual REVENUES Tax increment revenue $ 11,461,518 $ 11,461,518 $ 11,776,328 Marina Rent&Fuel Sales 1,000,000 1,000,000 901,990 Interest and other income - - 92,338 Total revenues 12,461,518 12,461,518 12,770,656 EXPENDITURES General government 3,619,338 3,619,338 2,440,901 Total expenditures 3,619,338 3,619,338 2,440,901 Excess of revenues over expenditures 8,842,180 8,842,180 10,329,755 OTHER FINANCING SOURCES(USES) Carryover fund balance 2,980,000 - Transfers out (8,842,180) (11,822,180) (11,822,180) Total other financing sources(uses) (8,842,180) (8,842,180) (11,822,180) Net change in fund balances $ $ (1,492,425) Fund balances-beginning of year 4,249,519 Fund balances-end of year $ 2,757,094 The notes to the basic financial statements are an integral part of this statement. 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o H H H o W U FC U U W W U] H H H Q Q 2 ca � 00 000 'z o HCC w w CC 0 000 a H a El cn W M M M M M FC Cu FC W co H CO 6l 6l 6l 6l 6l H H Q CI I I L I O C O H F( U H H W H InInx 0 0 0 0 0 o0 000 H 0 q q a q 0 u v N 2 o II o G W H o m w II FC c4 ca � II o w II - � u ca o IIII o w II a cC o II o El wx O El U I I z u w u w o Ca N II w w II H ca c� o II m N o O O N o II o a o II o x w N u w cn m x' H IIII z > Illi x a O N z N O h N z w ax O w cn Ca N IIII � � Q cw7 o IIII w � x N IIII u w u c4 I I �n II o N IIII � Q o IIII o N u w c4 x N H ca z w cn a w x � w N H cn c4 N x � H w z N � c > H H o cC N co O El w O c Z Z a o N i w w N x � i z ry w ry w 0 N o N In-Kind Analysis Below is an analysis that will be recorded on a monthly basis in the financial report for the In-kind agreements currently in place. (In-kind donations are defined as "any donations other than cash"). These agreements are either free or below fair market value rentals. These calculations represent the overall in-kind transactions for the Historic Woman's Club of Boynton Beach and the Boynton Beach Congregational Community Church. Total in-kind impact for the use of the Boynton Beach Congregational Community Church located at 115 N Federal Highway total will be$569,736.58. • City of Boynton Beach—Total Lease$514,571.58 o Use of 11,717 sq.ft. at$17 sq.ft. (below fair market value)for a 31 month lease starting June 2018 through December 2020. During FY 17-18,the in-kind rental impact will equal $66,396.33. The remainder of the lease impact will be as follows: ■ FY 18-19: $199,189 ■ FY 19-20: $199,189 ■ FY 20-21 -$49,797.25 • Boynton Beach Congregational Community Church—Total Lease$55,165 o Use of 1,947 sq.ft. at$17 sq. ft. (below fair market value)for a 19 month lease starting June 2018 through December 2019. During FY 17-18, in-kind rental impact will equals $13,791.25. The remainder of the lease impact are as follows: ■ FY 18-19 -$33,099 ■ FY 19-20 -$8,174.75 o The overall rental income (cash)that will be received totals$200.00. The Church lease has a monthly rental of$10 per month; plus May 2018 prior to lease. Total in-kind impact for the use of the Historic Woman's Club of Boynton Beach located at 1010 S Federal Highway totals will be 2 2 • Boynton Beach Woman's Club- (rental,will not include cleaning fee) 0 6 rentals from January through April 2018-$2,700 0 14 rentals from October 2018 through April 2019 -$6,300 • Garden Club-(rental, will not include cleaning fee) 0 16 rentals January through May 2018-$7,200 0 18 rentals September 2018 through May 2019 -$8,100 • Community Caring Center-Two events: October 2018 and February 2019 -$900. They will pay for cleaning fee. "Note: Rental of the Historic Woman's Club of Boynton Beach is$450 for first floor local rental. Cleaning is$200 for pre and post event. t 'k [OY �rBN �r � � yll RA ADVISORY BOARD ITEM 7.A. CONSENT SUBJECT: CRAAdvisory Board Meeting Minutes -June 07, 2018 SUMMARY: See attached minutes. CRAAB RECOMMENDATION: Approve the June 07, 2018 CRAAdvisory Board Minutes ATTACHMENTS: Description D June 07, 2018 CRAAdvisory Board Minutes MINUTES OF THE CRAADVISORY BOARD MEETING IN CHAMBERS AT CITY HALL 100 E. BOYNTON BEACH BLVD. BOYNTON BEACH, FLORIDA 33435 HELD ON THURSDAY, JUNE 7, 2018, AT 6:30 P.M. PRESENT: Linda Cross, Chair Robert Pollock, Vice Chair Michael Simon, CRA Executive Director Thomas Murphy, Jr. Thuy Shutt, CRAAssistant Director Rick Maharajh Theresa Utterback, CRA Dev. Svcs. Mgr. Allen Hendricks (arr. 6:47) Lisa Tayar, Prototype, Inc. ABSENT: James DeVoursney Anthony Barber 1. Call to Order The meeting was called to order at 6:34 p.m. 2. 1 nvocation 3. Roll Call Roll was called, and it was determined a quorum was present. 4. Agenda Approval A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda 5. Information Only A. Financial Report Period Ending May 31, 2018 6. Public Comment Ms. Sherry Johnson announced there will be a Culinary Fair on August 2nd from 2:00 to 6:00 pm. She noted that last year they had 30 vendors, but very few attendees. This year there will be more marketing of the event. 25 vendors are expected. Ms. Johnson further provided information regarding a brief background of the culinary industry, current trends, and the future of the industry. Marketing strategy for the Fair will include reaching out to local high schools, the Culinary Academy, the Florida Executive Chef Program, the Palm Beach Career Source Center, and the general community. Local businesses participating include Publix Meeting Minutes CRA Advisory Board Boynton Beach, Florida June 7, 2018 and Hilton Hotels, among others. Flyers will be available at the next CRA meeting for distribution. 7. Consent A. Approval of CRAAdvisory Board Meeting Minutes - May 03, 2018 Motion made by Mr. Murphy, seconded by Vice Chair Pollock, to approve the minutes of the May 3, 2018 meeting. In a voice vote, the motion passed unanimously (4-0). 8. Assignments A. Pending Assignments 1. None B. Reports on Pending Assignments 1. None C. New Assignments 1. None 9. CRA Board Items for CRAAdvisory Board Review and Recommendations A. Old Business 1. None B. New Business 1. Consideration of Community Caring Center of Greater Boynton Beach Inc.s' Grant Agreement for the Boynton Beach CRA Nonprofit Organization Grant Program Motion made by Mr. Maharajh, seconded by Mr. Murphy, to recommend approval of the Community Caring Center of Greater Boynton Beach, Inc.'s Grant Agreement for the Boynton Beach CRA Nonprofit Organization Grant Program in the amount not to exceed $57,681 over a period of six (6) months. In a voice vote, the motion passed unanimously (4-0). 2. Habitat for Humanity International's (d/b/a Habitat for Humanity South Palm Beach County) Grant Agreement for the Boynton Beach CRA Nonprofit Organization Grant Program Motion made by Mr. Murphy, seconded by Vice Chair Pollock, to recommend approval of the Habitat for Humanity International's (d/b/a Habitat for Humanity South Palm Beach County) Grant Agreement for the Boynton Beach CRA Nonprofit Organization Grant Program in the amount not to exceed $40,000 over 2 Meeting Minutes CRA Advisory Board Boynton Beach, Florida June 7, 2018 a period of twelve (12) months. In a voice vote, the motion passed unanimously (4-0). 10. Future Agenda Items A. Consideration and Discussion of Fiscal Year 2018/2019 Budget This item will be discussed at the July CRAAB meeting. There was then brief discussion regarding CRA contributions to the Town Centre in terms of dollar funding, bonding, interim financing, TIF payments, property tax increases, and budget targets all using the same spreadsheet/schedule previously approved in March. The larger number will include public and private sector amounts, excluding the energy plant. CRA portions consisted of $2.1 million, then $2.5 million, and then in 2019-2023 will be $3-3.5 million, dropping back to approximately $2.5 million thereafter. Chair Cross expressed her concern that project funding for the rest of the CRA will be ensured, not just for Town Centre. B. Boynton Beach Boulevard Streetscape Improvement Project Update C. Consideration of Proposals to the Cottage District Infill Housing Redevelopment Project Mr. Simon announced that a "get to know the Police Chief candidates" gathering will be held on June 11th, from 6:00 to 7:30 p.m. at Fire Station 5 and is open to the public He further announced the birth of Bonnie Nicklien's son, Isaac Walter. 11. Adjournment Upon motion duly made and seconded, the meeting was adjourned at 7:01 p.m. [Minutes transcribed by L. Tayar, Prototype, Inc.] 3 t 'k [OYNBN �r � � Y11 RA ADVISORY BOARD ITEM C.1. NEWASSIGNMENTS SUBJECT: Consideration and Discussion of Fiscal Year 2018/2019 Budget SUMMARY: The Boynton Beach CRA is a quasi-governmental, Special District operating under Title XI, Chapter 163, Part I I I of the Florida Statutes. The agency's annual financial operations run on a fiscal calendar beginning on October 1st and ending on September 30th of each year. The C RA does not obtain its revenue from charging an additional tax. The CRA receives its annual Tax Increment Revenue (TI R) funding based on the property values within the CRA District as share of the existing ad-valorum property taxes paid to the City of Boynton Beach and Palm Beach County. Based on notification received from the Palm Beach County Property Appraiser's office in May 2018, the estimated TIR for Fiscal Year 2018-2019 will be $12,421,686 (see Attachment 1). This amount would represent an 8% increase in property values and T I R over the previous fiscal year. The CRA's annual budget is comprised of three accounting funds; 1) the General Fund which contains the administrative, general operation, insurances, property maintenance and CRA/CRAAB and marina related items; and 2)the Project Fund which contains all of the capital projects, development projects or initiatives, property acquisitions, local business grant programs or promotional events, as well as eligible innovative policing activities such as the Neighborhood Officer Program; and 3) the Debt Service Fund which contains the CRA's financial debt obligations and encumbrances such as bond repayments and developer's tax increment funding agreements. As the CRA district continues to see positive economic growth and the agency itself continues reinvest funding into capital projects that enhance the overall district, prioritizing expenditures and longer range financial planning becomes even more important. The project fund budget discussion will attempt to identify the priority projects for the upcoming fiscal year and assign funding amounts to them in a draft project fund budget exercise using a live accounting spreadsheet (see Attachment 11). The financial breakdown will identify current bond debt obligations, existing tax increment revenue funding agreements obligations and available funding for priority projects, programs or funding requests. Included in the review are the preliminary budgets for the Neighborhood Officer Police Program (Attachment 111), Special Events (Attachment IV) and Marketing (Attachment V). During the June 12, 2018 Board meeting, the CRA Board directed staff to send an "active" Excel spreadsheet with figures that will be discussed at July's Board meeting. An email with the requested information was sent to the CRA Board on Friday, June 22, 2018 (Attachment VI). The CRA's annual budget process will continue with funding discussions at the July, August and September meetings of both the CRA and CRA Advisory Boards. Final approval and adoption of the CRAs annual budget for Fiscal Year 2018-2019 is anticipated to occur at the September 18, 2018 City Commission meeting. FISCAL IMPACT: To be determined based on Board discussion and action. CRA P LAN/P ROJ ECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRAAB RECOMMENDATION: Assignment: CRAAB to discuss and review the Fiscal Year 2018-2019 Project Fund allocations made by the CRA Board at their July 10, 2018. ATTACHMENTS: Description D Attachment I - Projected General Fund/Debt Service Expenses D Attachment II - Project Fund Live Spreadsheet D Attachment III - Neighborhood Police Program D Attachment IV -Special Events D Attachment V - Business Marketing Program D Attachment VI - Email from M Simon to CRA Board 6/22/2018 � Mco cor r N m � r vmM� r Sao � y m��r vow v_ rnn M o N m r r rn � o a M N N o NT coo Ooi O a o O o M M LL M V M V rl- N rl- O O rnC m ror vn N 9O N N N O M (r0 M N C o O a c0 O c N M O LL M V M V cc O m o m N N N A ON O N OOi O OOi m N O V V cc mo o O -ct N O N N �O M OM m mO O N c0 N r �y cc O cc Nr M N M N O O ' O O c0 Oo O W� r C A M V O s N O V r c�0 Obi ONi N O V'O V I�O O c0 c0 M c0 O IO m M O cq LL M� V N M S c0 M O M r c0 O M c0 N V O c0 tO c0 N O M o r VrV N (NO O N N O V' N V O V cc O V' c0 O r M r_ M V'O V c0 N O O N O O go V (O r O V r O V N N O N � O M V N cN0 M O LL N2— V N M c0 O m m O r O r m O O - N N O N N r 0 0 N O c0 r N O O W N c0 O N M N O'O �O NO N O NON NNONr N Ooi O QOi O O N N V'ON I � � cc ON N O N M r O O N O N N O N 0 0 0 0 V O O N O M N ONi O a Ooi O N V c0 V cc O N m O rN O N M M m N O cc c00 O V M O Ori ,� O N ON O r o c0 m N N o O ON O N OOi O O m N V N m c0 O �O N c0 O M O O O O O O O M O w c0 O m O O O N N O c0 O tO V' O M N O N N N O V'O N M O ONi rn rco u�v H l0 l0 l0 l0 l0 _OI O A U A C U N C d E T A a LL p c0 c0 F W } } C N N O N FD w M. O dN Baa } m m Z d c a o o a a LL N Z �K m vo 'c y o. 0 m mNUU� H > rom w E m �m LL O LL �' o o E E O O o lo l° �O m ma N } N } } N } } } N m N N N a N N N a N a m E ro u° rc O O N N N O � � N LL W ° _ 4 IL v O ro � " auw c oLL tt'I «_ Q Z g q') N J _o m ° m J it ma v � ° Q 1 m �i' m d _ = Q a m D O Y u o E E V N N U U W E =E Z J r _ v u - m m ° E m LL U m'. = a K= u a m e `z°Q c c .° .2 U C . U z m _ a 9Q o °o �m o > m a v 8 a ~ E a w' c c ' a' w E3 o O Q "_ a �' 3Yo o O1vY o o E E 0 « s c a u q J v ° LL U z w x a` U U ¢ z z° o° S Actual Category Notes Quantity Cost per Unit Subtotal' 948 Sergeant Salary&Incentive(Diehl) 1 $ 92,763 $ 92,763 Salary,Education Incentive Sergeant Benefits-Pension 1 $ 44,443 $ 44,443 Pension Sergeant Benefits 1 $ 15,625 $ 15,625 Healthcare,Dental,Vision,Fica Officer Salary&Incentive(Paramore) 1 $ 62,781 $ 62,781 Salary,Education Incentive Officer Benefits-Pension 1 $ 30,078 $ 30,078 Pension Officer Benefits 1 $ 13,330 $ 13,330 Healthcare,Dental,Vision,Fica Officer Salary&Incentive(NEW) 1 $ 54,304 $ 54,304 Salary,Education Incentive Officer Benefits-Pension 1 $ 26,017 $ 26,017 Pension Officer Benefits 1 $ 12,680 $ 12,680 Healthcare,Dental,Vision,Fica $ 352,021 Personnel Costs Total ¢ ^9 Radio and Related Equipment 1 $ 2,000 $ 2,000 Bike Rack 1 $ 250 $ 250 Misc.Equipment-As Needed $ 2,500 $ 2,500 $ 4,750 Equipment Costs Total Cell Phones Service Plan 3 $ 675 $ 2,025 Office and Miscellaneous Supplies 1 $ 2,000 $ 2,000 Paper,Pens etc.(includes printer/copier) Office Cleaning 1 $ 1,500 5,525 Office Expenses Total Communication and Program Marketing $ 7,704 Total for FY 18-19 $ 370,000 NOTE:All amounts provided by Police Department with exception of Contingency and ILA amount for FY 2017-2018 Revised by CRA to include promotional/marketing materials and additional equipment. BOYNTON BEACH CRA FY 2018-2019 SPECIAL EVENTS BUDGET EVENTS DATE BUDGET BOYNTON BEACH Saturday&Sunday October 27&;28, 2018 $310,000 HAUNTED PIRATE FEST Event Marketing; $43,000 &MERMAID SPLASH Event Banners $8,500 E. Ocean Ave. (between Federal Hwy. and NE 3rd St.) Total Pirate Fest $361,500 ART DISTRICT EVENT Date:TBD 410 W. Industrial Ave. Total Art District Event $5,000 Event Marketing; $1,500 Total is ric $6,500 HOLIDAY BOAT PARADE Friday, December 14,2018 $11,000 735 Casa Loma Blvd. Event Marketing; $4,000 Total oa arae $15,000 BLARNEY BASH Sunday, March 17, 2019 $35,000 735 Casa Loma Blvd. Event Marketing; $9,500 Total oa arae $44,500 ROCK THE PLAZA Dates: TBD (FALL/WINTER) $18,000 Plazas: Casa Costa, One Boynton, Yachtsman December 2018, January 2019, February 2019 SPRING/SUMMER $18,000 Plazas: Boynton Harbor Marina,Yachtsman's April 2019, June 2019, July 2019 Plaza, Ocean Palm Plaza Event Marketing'; $9,000 Total Rock a Plaza,' $45,000 HISTORIC WOMAN'S CLUB Valentine's Heart Ball-'February 2019 $10,000 OF BOYNTON BEACH 80's Prom-May 2019 $10,000 1010 S. Federal Hwy. Event Marketing; $5,000 Total oman s Club $25,000 EQUIPMENT&SUPPORT $21,500 Sub-I otal Lvents $447,000 Sub-Total Events Marketing $72,000 TOTAL COST OF EVENT ► $519,000 FY 17-18 Funded Events: Budget Considerations: Budget based on overtime rate of$51/hr for BBPD Public Safety Open House-$3,000 versus standard detail rate of$42/hr Holiday Tree Lighting &Concert-$70,000 Holiday Parade-$12,000 Taste of Boynton event in June 2019-$10,000 MLK Celebration of Unity-$40,000 Music on the Rocks-$20,000 Kinetic Art Event in February 2019-$20,000 Movies in the Park-$18,000 MARKETING - PROJECT FUND 02-58400-445 BUSINESS DEVELOPMENT A Economic Design & print a custom brochure for economic development grants $ 2,000 Development B Delray Newspaper (3) Full page color ads to promote the businesses in the CRA district $ 3,135 ($1045 per ad) C Neighborhood News (3) Full page color ads to promote the businesses in the CRA District $ 2,100 of the small businesses in our district do not have a website. This campaign Website lottery is based on a lottery system budgeting for 2 businesses to receive a free D campaign partnership website to help promote their business online. (2)website start ups at $ 5,000 with SMOP program $2500 each E Gateway Gazette Full page monthly color ad placement to promote the businesses in the $ 7,320 CRA district($610 per month) Business Boynton Bucks campaign for"Meet your Neighbors"will service businesses F Development offering a discount to attract new customers. This campaign includes $ 4,250 design & print of discount cards which will be utilized to track participants. Boynton Bucks campaign for restaurants which offers a discount to attract G Restaurant Club new customers. The campaign includes design & print of discount cards $ 4,250 which will be utilized to track participants. Heart of Boynton 30x60 banners (15) banners printed and installed H Downtown Banners everyother pole and East Ocean Ave. 30x60 Downtown District (18) $ 13,300 banners printed and installed.This also includes maintenance. BDB ad in Profile Double page spread ad in the annual Business Development Board Profile $ 3,975 magazine we split this with the City Chamber& Business Merchant, redevelopment marketing, business development & Broker $ 10,000 Development Events events Business Development Video Ad This campaign includes 2 minute videos for the CRA businesses along with K Campaign and photos photos. The businesses will donate gift certificates for a drawing on social $ 23,000 media which will draw the winners to the establishment. for Social Media L Sub-Total Business Development $ 78,330 CRA COMPLIANCE Design and print a 20 page report that will be inserted into the the M Annual Report Sun Sentinel Newspaper and delivered to 3,500 locations within the $ 6,670 33435 zip code Total Marketing - Project Fund $ 85,000 Hill, Vicki From: Simon, Michael Sent: Friday, June 22, 2018 3:47 PM To: Grant, Steven; Romelus, Christina; Katz, Justin; McCray, Mack; Casello, Joseph Cc: Shutt, Thuy; Hill, Vicki Subject: CRA Brd: FY 18-19 Budget, Project Fund Allocation Wrkshtl Attachments: 06.22.18_Propsd_NOP_FY18-19_Budget.pdf; 06.22.18_Brd_FY18-19 _ProjectFund_Budget_WrkShtl.pdf; 06.22.18_Propsd_FY18-19_MKT_Budget.pdf; 6.22.18 _Propsd_FY18-19_Special Events Budget.pdf; 06.22.18_CRABrd_FY18-19 _B udget_Project_Fund_Allocation wrkshtl.xlsx Good afternoon CRA Board Chair Grant and Board members: As directed by the CRA board at your June 12, 2018 meeting, attached please find an "active" Excel spreadsheet made up of two worksheet tabs: These spreadsheets are also attached for you in pfd format. * Tab 1) FYI 8-19 TIR-Debt Service-TIRFAs, takes you through the Proposed FY 18-19 Budget beginning with Tax Increment Revenue (TIR) down to General Expenses, Debt Service Expenses and Tax Increment Revenue Funding Agreements (TIRFAs) Expenses, and; * Tab 2) FY 18-19 Project Fund Brd Wrksht,provides you with the Available Amount in the Project Fund for your allocation exercise. For your reference and consideration, this Tab also provides a column of staffs recommendations for Project allocation amounts. Additionally, attached please find the staff proposed FY 18-19 Project Fund Budget breakdown sheets for Special Events, Business Marketing and the Neighborhood Policing Program (NOP). These may be useful as you work through your proposed project allocation amounts. It is my intention to go over the attached information with each you individually during our upcoming one-on- one meetings. This will give us an opportunity to discuss the budget and answer any questions you may have or provide clarification on any funding item. Thank you again for all of your time and support. Have a great weekend. 1 t 'k [OYNBN �r � � Y11 RA ADVISORY BOARD ITEM B.1. CRA BOARD MEETING OF: August 8, 2017 NEW BUSINESS CRA BOARD AGENDA ITEM: XIV.B. SUBJECT: Consideration and Discussion of the Letter Submitted by the Community Caring Center Boynton Beach, I nc. (CCC), for their property located at 145 NE 4th Ave, Boynton Beach, Florida SUMMARY: The Community Caring Center's (CCC) existing property and operation is located within the CRA's Cottage District Project site area and was appraised in April 2017 with a estimated market value of $171,000 (see Attachment 1). While the community outreach functions of the CCC are well received, the commercial nature of the activities provided by the Center create a less than ideal situation for neighboring residential uses. This conflicting, quasi-commercial use has been identified by staff and development professionals, as an obstacle to consumer appeal as a future residential redevelopment project if not relocated. CRA staff has been working with Sherry Johnson, Executive Director of the CCC over the years to formulate a mutually beneficial acquisition and relocation plan for the CCC. On July 9, 2017, CRA staff received a letter from Ms. Johnson, outlining conceptual terms for the CRA's proposed acquisition of the CCC's existing property and financial conditions necessary for the redevelopment of a new facility. At that time, Ms. Johnson estimated construction costs of approximately$785,000 to construct. At that time, their offering purchase price to the CRA was $300,000 with an additional $100,000 requested in financial assistance toward the construction of their new facility as well as providing the CRA owned relocation site for the sum$10.00 (see Attachment 11). In January 2017, the CRA purchased the vacant lot located at the corner of NE 3rd Street and NE 9th Avenue, adjacent to two vacant lots owned by the City. According to City Planning and Development staff, combining these three lots would create a parcel large enough for the construction of a new two story, 9,000 square feet building facility and associated parking (see Attachment 111). CRA staff and Ms. Johnson met on November 27, 2017 to discuss the status of the proposal and any issues with the site plan or financial terms. During the meeting, Ms. Johnson expressed her desire to explore the possibility of expanding the size of the originally proposed building to accommodate new programs being developed for the future of the CCC. On June 18, 2018, the CRA's Director and Assistant Director attended the special meeting of the CCC's Board of Directors to discuss new details concerning the proposed construction budget, financial breakdown, size, capacity and timeline for development of the new facility. An email and costs breakdowns were sent to CRA staff on July 3, 2018 (see Attachment IV). The revised project development budget shows an estimated total cost of construction to be $2,033,925. The CCC has identified $875,000 in funding sources and is requesting $1,158,925 in CRA funding, $750,000 for acquisition of their current property in FY 2018-2019 and $408,925 as a site development grant in FY 2019-2020. FISCAL IMPACT: To be determined based on CRA board discussion and consideration. CRA P LAN/P ROJ ECT/P ROG RAM: 2016 Boynton Beach Community Redevelopment Plan; Heart of Boynton District CRAAB RECOMMENDATION: To be determined based on CRAAdvisory Board discussion and consideration. CRA BOARD OPTIONS: To be determined based on CRA Board discussion and consideration. ATTACHMENTS: Description D Attachment IV -July 3, 2018 email from Ms. Sherry Johnson with updaed project cost breakdown. { Community Caring Center of Greater Boynton Beach, Inc. The Secret Garden Cafe, A Culinary Incubator Program Board o Directors: f http://dvdvdv.cccgbb.or� Joyce C.Portnoy,President Everlene Baker,1"Vice President Doreen Robinson,2"'Vice President Josephine Casello June 30, 2018 Janet Dadia Secretary Dr.James Devoursney Michael Simon, Executive Director Larry Diljohn 710 N. Federal Highway Maureen Connolly Shannon Sharonda McClendon Boynton Beach, FL 33435 John E.McGovern,PhD Arturo Wittman RE: Sale of CCC Property Located at 145 NE 4t" Ave and Purchase of Advisory Board CRA Property NE 9t" Ave & NE 31d St Harold Dom Meghan Hayes Dear Mr. Simon: Dr.Timothy Kehrig Nate Nichols,PhD Thank you for allowing us to take some time to really look at this project Dr.Mary Eliz Roth and for the assistance you've provided helping to resolve our need to Jane Snell create a new campus that allows for CCC to continue to be a valuable Staffing resource to the community. To do that, CCC needs to double its current Sherry Johnson,Executive Director combined spaces of 5,135 sf to 10,270 sf. The project on the NE 91h Ave 3 Michelle Davis-White,Senior Care parcels might be able to accommodate a 2-story, 9,000 sf structure due to Giving Coordinator required parking constraints. It would cost $2,033,925. The CCC has Tony Miller, Community Outreach identified potential sources of funding totaling $875,000, leaving a gap of Rachel B Waterman, Grant Writer $1,158,925 for the CRA's consideration. This could be funded through the Social Services acquisition of our existing property located at 145 NE 4th Ave, and other Emergency Food,&Shelter CRA site development resources budgeted over the next two fiscal years: Senior Care Giving FY 2018/19 and 2019/20. Senior Veggie Mobile Home Delivered Meals Background Chronic Meal Plans CCC is faced with having out grown both the CCC offices site (1635 sf), as Economic Development well as, the business development &job training space (3500 sf). Not to Culinary Business Development& mention, our lease for the incubator is going to expire, and the landlord is Job Training Center preparing to start building his project very soon. So, it is imperative that this project be able to solve space issues for both programs. Urban Farming Proiect Children's Gardening&Nutrition In the last year, we have obtained grants and contracts for senior meals, Education Nutrition Cooking Classes chronic meal plans, and job training programs. CCC is now a United Way Food Preservation Classes funded organization with a 3-year chronic meals contract and CCC will be contracting with a major health care agency for a pilot program to provide FIX chronic meals for renal failure patients. This one program utilizes both the talent of our incubator chefs and integrates hands on BOYTO training and experience for our culinary food prep students. The " BEACH �r¢R► program is at its infancy this year and will provide 20,000 meals for this J1, one disease, however, there are plans for additional meal plans for other 77....... " chronic diseases, Tike chemotherapy patients. �f CCC requires enough space to accommodate 1) the growth of our small United way businesses and aos; an of Palm leash Cvunbid their y to d 2 p � ) the continued n0�i�fl "t�h��'w° expansion of our senior& chronic meals program. This includes the ^� ^ < Pal"'Beach County opportunity to incorporate job training classes to provide hands on COMMUNITY SERVICES experience, enhancing students ability to seek employment. Soca,jlSetvtcen 145 NE 411,Ave,Boynton Beach,FL 33435 Economic Pev.-410 E. Boynton Beach Blvd.,Boynton Beach,FL 33435 M,W,F 9 arra to 1 pm Tues thru Friday 11 am to 5 pm 561.364.9501 ext 25 561.752.8598 CRA June 30, 2018 Letter Pg 2 Construction Stats Our combined square footage is 5,135 for the incubator and offices. We need to try to double that to allow for future programmatic growth for the agency. We have been working with a site planner, Caulfield and Wheeler, Mr. Allan Hendricks. We believe that we can get the first floor footprint on the 3 lots you are offering on NE 91h to about 5,200 sf and then consider going up to a 2nd floor for another 3,800 sf which might be as large as we can go and provide for all the required parking that will be needed. Looking at a site development of around 9,000 square feet, we obtained enough proposals to feel that the costs associated with the development this project would be approximately $2M. I'm attaching a preliminary project proforma to this letter you can refer to. TABLE: IDENTIFIED SOURCES OF PROJECT FUNDING Site Development $2,033,925 Costs: Funding Sources: CCC Fundraising/Capital $250,000 Campaign 1St Presby Delray $100,000 Lost Tree $100,000 Lattner $100,000 JMoran $ 50,000 Kresge $100,000 NY Comm Bank $ 75,000 Others $100,000 CCC Resources: $875,000 GAP $2,033,925 less $875,000 = $1,158,925 CRA purchase of CCC Property $ 750,000 CRA Site Development Grant $ 250,000 Additional funding shortfall $ 258,925 NOTES: Should our fundraising or grant applications not produce desired amounts, CCC has a $300,000 mortgage capacity. We are requesting that the CRA look at the $1,158,925 gap in financing as a multi-year commitment to the development of our new Small Business Development and Job Training Center. This could be budgeted over 2 consecutive years: FY 2018/19 $750,000 & FY 2019/20 $508,925. Things to consider would be items in the development of the site that could be paid by you like unification of title, alley abandonment, sidewalks, on street improvements, lighting, soil borings, surveys, and soil reports that we might be required as a developer to provide and possibly site development grants for things like engineering drawings, architecture, permitting costs, FPL fees, etc. Sincerely, S4e,tcly c7okreoir Sherry Johnson, Executive Director �\ � 0 0 . � \ k % \. �o : � } } } } 0 0 0 0 0 z 0 z 0i / ii \ / \ o + . � � . ) 2 LLI \ $ / / & 0 t § -% E LU LU 0 a 2 a \ 0 \ 7f % \ / \_ , % ) } k \ ( « R _ .E = G u 06 � d / ©§ g D � �ƒQ ® - ui - x C / u k � \ w , < , w 0 k v � O O IPI N c-I c-I c-I O O O O O O O O Ln O Ln Ln O Ln Ln Ln O I- N O O r-I I� Cl I� N M 00 to r r- N c-I N N N c-I ++ c c c c c 06 c > w co ++ a- b.0 co d i E d m c s d h0 U c (n 0 C c '41 .L 0 bb > c0 w O CL Z;i > m m c w .L w C in -0 _ O C N O w C c cco H bb '�, L 00 d C 'wD 0. co +� w c a f6 w W O w o :t @ N LU a o bb a� O � j w a w 0I u D O O O 00 N L' Q0 M M N O On O O- 0 Ln Ln 00 00 � O� Ln N M O 00 O c-I Ol N Ln c-I c-I l0 c-I c-I M M bO N C O C N w p u CO Q- Q- c0 0 N •L N +_ ++ (O N N d O U E NLL �. m O O O 06 L � C L 0 0 •� m N O Vf C U N Nbb Lu N V) to U W O m 0) 0 41 2 a LL W i — C r LL U = LL N i+ M N w y a+ W f0 W O L �? 0 W V) 41 mL Q' Q. Q. 0 N .Q H W ++ 41 2 ~ a a a 0 C ° 3 O O Ln O O O N O LnN O l0 Cl O 01 O M M O fYf O 00 ON M c-I c-I tn, O O O O O 0 Ln O O l0 O O O to CF) O N O 00 Lr l : M M O 01 O M O M ll 00 iN/4 M O N N C C i U 0 t c U m N i+ Q J LL V C 0 L C: E a O C 0 N Q N O L L Q 2 C C O1 ++ xbb CL w C C C O ^ W W N E b L N m0 Q a y (p -+ +' 41 Gl 7 C m N W 0 (n W OV t 'k [OYNBN �r � � Y11 RA ADVISORY BOARD ITEM B.2. NEW BUSINESS SUBJECT: Consideration of Registration and Travel Expenses to Attend the Florida Redevelopment Association 2018 Annual Conference on October 24-26, 2018 in Fort Myers, Florida SUMMARY: The Florida Redevelopment Association (FRA) annual conference will be held on October 24- 26, 2018 at Sanibel Harbour Marriott Resort & Spa in Fort Myers, Florida. The deadline to register is October 9, 2018 (Attachment A). The FRA is our agency's statewide professional organization under the Florida League of Cities. The conference always provides great information to staff and board members on CRA related issues, best practices, programs and legislative updates (Attachment B). The CRA Board established a policy during fiscal year 2016-2017 that only two members of the CRAAB are permitted to attend the FRAAnnual Conference. FISCAL IMPACT: FY 2017-2018 Budget, General Fund, Line Item 01-51010-225 ATTACHMENTS: Description D Attachment A: FRA Registration Form D Attachment B: Tentative Program Schedule Florida Redevelopment Association RE EVELOPMENT October 24-26, 2018 OIL,T"'i'WORKS Sanibel Harbour Marriott Resort & Spa We look forward to seeing you! If you are paying by check, you are welcomed to send this completed form to us with the check. However, if you would like to pay by credit card (Visa or MC), you will need to register online, at http://redevelopment.net/2018-annuaI-conference/. Please complete a form for each registrant with all fees payable to FRA Annual Conference, P.O. Box 1757, Tallahassee, Florida, 32302-1757. Visa or MasterCard payments are accepted online only. Note: FRA dues must be paid by October 1. 2018 to receive the member rate. Conference registration deadline is October 9, 2017. Cancellations must be made in writing by the close of business on October 15, 2018 to receive a refund and will be subject to a $50 processing fee. Full Name: Nickname: Title: ——— Organization Mailing Address: City: —State: Zip: Phone: Email: Guest" (if purchasing): —Nickname: REGISTRATION TYPE (see notes page two) MEMBER NON - SUB-TOTALS MEMBER Full Registration $ 395 $ 480 Wednesday, Oct. 24 Only $ 325 $ 350 Thursday, Oct. 25 Only $ 345 $ 375 Guest/Spouse $ 315 $ 345 CRA Boot Camp Wednesday, Oct. 24 $ 49 $ 49 8:00 a.m. — 11:00 a.m. Mobile Tour Wednesday, Oct. 24 8:00 a.m. - 11:00 a.m. $49 each $ Fort Myers CRA Districts (Space available basis) Fullitime Student (sessions only) COMP COMP COMP GRAND TOTAL See next page for payment Information 1 Florida Redevelopment Association RE EVELOPMENT October 24-26, 2018 OIL,T"'i'WORKS Sanibel Harbour Marriott Resort & Spa Registration Payment Notes www.redeve%pment net Members: FRA dues must be paid by 10/1/18 to receive the member discount in advance. Full and Guest registrations include all workshops and meal functions. Guests are spouses, partners or non-professional relations. Guest registration may not be used for staff or company representatives. One-day registration: Includes workshops and meal functions scheduled for that day only. Mobile tour and CRA Boot Camp registrations require an additional $49 fee. Student Registration is available to full-time university students. Fee includes access to all workshops, but no meal functions. Extra Tickets: Email Samantha Pedrosa at sped rose 9ficities.co m to order additional tickets for ticketed functions. Special Needs: If you have special physical needs, or a dietary preference, please let us know on this registration form. Payment Tvae - Check payable to FRA Annual Conference - please mail check payment for all registrations to FRA Annual Conference, P. O. Box 1757, Tallahassee, FL 32302 Credit Card payments are available online only (Visa or Master Card) If paying by check, please be sure to send pages 1 & 2 to Samantha Pedrosa at or FAX to Samantha at (850) 222-3806. 2 FEDEVELOPMENT 'I 61t d44 li iWORKS FLORIDA REDEVELOPMENT ASSOCIATION 2018 ANNUAL CONFERENCE Tentative Program WEDNESDAY, OCTOBER 24, 2018 Mobile Tour of Fort Myers CRA (separate registration) 8:00 a.m. — 11:15 a.m. CRA Boot Camp (separate registration) 8:00 a.m. — 11:15 a.m. We will be covering what you need to know generally and where to go to learn more about Community Redevelopment Agencies (CRAs) in Florida. Geared towards policy setters, administrators and volunteers, this will be a review and an outline of the top issues with CRAs in Florida. We will share real life examples of how others have dealt with and met the challenges that can come up in any CRA. Space is limited. Welcome Luncheon in the Exhibit Hall 11:00 a.m. — 12:30 p.m. Welcome Plenary Session and Keynote Presentation 12:45 p.m. — 2:00 p.m. The Community Reinvestment Act for Community Redevelopment Agencies 2:15 p.m. — 3:15 p.m. Learn about the Community Investment Act (CRA) and how city and county CRAs can partner with banks to meet community development needs. Examples of economic development, small business support, affordable housing as well as revitalization and stabilization will be discussed. The session will include a presentation and exercise in identifying bank Community Reinvestment Act opportunities. You will leave with a general knowledge of the Act and understanding 1 about how redevelopment areas can use their plan goals and objectives to partner on your projects. WEDNESDAY, OCTOBER 24, 2018 Speakers: April A. Atkins, AICP, Community Affairs Specialist, FDIC; Lisa Mifflin, Office of the Comptroller No Brainer Social Media for Local Small Businesses 2:15 p.m. — 3:15 p.m. Learn how to sustain your small businesses through education about the fundamentals of marketing and analytics. We will share some valuable strategies necessary to reach new customers and develop brands. These include creative partnerships, measurable results, video testimonials, and other inexpensive but effective deliverables. You can also learn how your city, county, CRA or other program can provide small businesses with a lot of information about simple ideas and tools that help them grow their business in your community. Speakers: Michael Corbit, Director of Business Development for CareerSource Palm Beach County; Jamil Donith, Social Media Consultant for the Boynton Beach CRA; and Theresa Utterback, Development Services Manager, Boynton Beach CRA Engaging the Underserved Community 2:15 p.m. — 3:15 p.m. Emphasis will be on reviewing the PROCESS for getting projects funded, or issue included in the plan, or supporting certain issues before a CRA Board. Our "Diversity Session" later on will dig into any ideas or suggestions on actual actions that has been effective in building trust in a community. In both sessions, you can actively engage in the discussion. 2019 Legislative Outlook for CRAs 3:30 p.m. — 5:00 p.m. How to Deal with Construction in Support of Businesses 3:30 p.m. — 5:00 p.m. It does not last forever it just seems that way — street construction in front of your valued and vital businesses. How can you mitigate the effects, in the best and most effective manner? Our panel will tell stories about what works and what didn't, and why. Don't miss the opportunity to learn from those that have been there and can still talk about it! 2 Moderator: Adam Rosmell, Burkhardt Construction WEDNESDAY, OCTOBER 24, 2018 Land Use and Economics 3:30 p.m. — 5:00 p.m. Learn the latest on land use economics and gain an understanding about how it is an effective tool for managing growth, making smart redevelopment decisions using land value as a guide. Joe Minicozzi, Urban3's principal and innovative planner, will lead the presentation overview and guide participants in the discussion. We will also discuss a case study in Gainesville, Florida, where Urban3 conducted an analysis to put the theories to work. The practical and on-the-ground application of the study revealed benefits and challenges that come with a greater understanding of economic visualizations. Want to know what things are important to measure, and how it is customizable to your community? This information can get officials, citizens and volunteers excited about your efforts. Speakers: Joe Minnicozzi, Urban3, LLC; Sarah Vidal-Finn, Director, Gainesville Community Redevelopment Agency. Reception in the Exhibit Hall 5:30 p.m. — 7:30 p.m. Meet the private sector supporters of Florida redevelopment and learn what they are doing in various areas around the state. Leave your business cards to be eligible for great give-aways. 3 THURSDAY— OCTOBER 25, 2018 Revitalizing Communities through Strategy and Infrastructure Initiatives 8:00 a.m. — 9:00 a.m. This session will share successful strategies to revitalize communities. We will look at case studies, one large and one small, on how redevelopment efforts resulted in more vibrant and livable communities. How they did it, through partnerships, incentives, and initiatives, is the focus of each case study. Attendees will learn about practical and readily available tools from experts in engineering, planning, and economic development. Moderators: Cyndi Jantomaso, President, Haines City Economic Development Council, Inc. and Adriana Trujillo-Villa, Public Works Operations Manager, City of Haines City Speakers: Addie Javed, Public Works Director, City of Haines City; Tom Polk, Impact Fee Administrator, Sarasota County; and Kelley Klepper, Project Manager, Kimley Horn Analyzing Internal Data with OneNote and GIS 8:00 a.m. — 9:00 a.m. Learn how to use OneNote and GIS online applications to integrate the myriad of plans for your city and special districts. You can get more out of both government plans and consultant reports, by matching redevelopment goals to the strategies and implementation tools you have available. Any agency with their own files on hand is welcome to contribute them to help us identify what data is important to what redevelopment strategies. We will leave with a good base knowledge on how to analyze internal data using tools readily available and demonstrate exactly how it can be done. Moderator: Jeffrey Burton, CRA Director, City of Palmetto Speakers: Wes Benge, Strategic Plan Specialist, City of Palmetto; Zachary Schwartz - GIS Specialist, City of Palmetto; and Nicole Tremblay - Strategic Plan Specialist, City of Palmetto Murals and Other Ways to Succeed with Public Art in Your Community 8:00 a.m. — 9:00 a.m. This session will review and discuss the current trends, best practices and critical issues for public art programs in urban settings. Working with transportation groups, private developers and local officials will be discussed. Come see what can be done with artists to create stunning murals. We will talk about it all — join in the conversation and bring your questions! 4 THURSDAY— OCTOBER 25, 2018 Moderator and Speaker: Melissa LeBaron Davies, Project Coordinator for Arts Programs, City of Tampa; Jorge Camejo, CRA Director, City of Hollywood CRA Key Elements of Successful Neighborhood Transformation 9:15 a.m. — 10:15 a.m. We will present examples of how to successfully transform a neighborhood. The presentation will include how a holistic approach that addresses the environmental, built and social aspects of communities can work. In these examples, areas came alive through great design, and walkable, flexible spaces. They were also designed to adapt to changing markets. Don't think it will work for you? Join us! Speakers: Felix Deloatch, Senior Associate, Associate AIA; Troy McGhee, Principal, AICP, LEED AP; and Tom Gallas, Chief Executive Officer and National Capital Planning Commissioner, CPA, LEED AP BD+C Good Properties Gone Bad - Redevelopment of Environmentally Challenging Sites 9:15 a.m. — 10:15 a.m. This interactive discussion will consider the challenges of redeveloping brownfleld sites — and the variety of remedies. How do you create a vibrant catalyst site for your community? How clean is clean? We will leave with an understanding of redevelopment options for sites with environmental issues, and potential funding resources for the cleanup and revitalization of an existing site. Speakers: Frank L. Hearne, Esquire, Terracon; Stephanie Seawright, Project Manager, City of Gainesville CRA; Mark Milligan P.G., Environmental Manager, Terracon; and Brad Tompa P.G., Environmental Manager, Terracon Taking it to the (Complete) Streets 9:15 a.m. — 10:15 a.m. The session will describe how a four-lane undivided roadway was successfully transformed into a "complete street". The project was completed in May 2017 at $1.875 million. This case study will overview the public process, including takeaways for proper communication with the public, advisory boards, partners, and agencies. We will hear from these partners about the pitfalls, resources, and opportunities for creative coordination in capital project planning. The experience gained from this project will be passed on to you, including tips on urban design theory for complete street making. 5 THURSDAY— OCTOBER 25, 2018 Speakers: Kyle Dudgeon, Economic Development/CRA Manager, City of Winter Park; TBA Do's and Don'ts of Marketing & Special Events (Activating Spaces) 10:30 a.m. — 11:30 a.m. Many CRA's sponsor or produce events, programs and campaigns to activate public spaces and reinvent blighted commercial districts. This session will highlight creative strategies to ensure statutory compliance while producing engaging community events or campaigns designed to further your CRA goals. Attendees will gain valuable insight to ensure that their existing or future event programs and marketing campaign strategies contain the specific elements necessary to meet or exceed statutory guidelines. Speakers: Sharon West McCormick, Director of Business Attraction & Marketing, RMA and Claudia McKenna, Esq., CRA Attorney, Community Redevelopment Legal Services Meeting Your CRA's Plan through Bank Partnerships 10:30 a.m. — 11:30 a.m. Our panel of Community Development Financial Institutions (CDFI's) as partners in redevelopment will share what resources they have for a city, county or community seeking loan support and resources. We will discuss community development loans, small business loans and technical assistance of all kinds. Learn how to plug into your financial community as a CRA or governmental entity. Moderator: Lisa Mifflin, Office of the Comptroller Lunch in the Exhibit Hall 11:30 a.m. — 1:15 p.m. 1:30 p.m. — 2:45 p.m. Keynote Presentation Neda Navab, Associate Director, Urban Systems, at Sidewalk Labs Supporting Diversity: Gaining and Keeping the Community's Trust 3:00 p.m. — 4:30 p.m. LDRs and CRAs 3:00 p.m. — 4:30 p.m. 6 Are there any examples of"relief' given to CRA's from land development regulations in a municipal or county comprehensive plan. For instance, are there any CRA's that have separate or different heights, densities, set-backs from the rest of the City to which they belong? In some cities, certain land uses are allowed only in CRA areas. How is this working out? Moderator: Joan Oliva, CRA Director, City of Lake Worth Speakers: Elizee Michel, CRA Director, West Gate Belvedere Palm Beach County; Karissa Rojas-Norton, CRA Manager, City of Largo; and Redevelopment Planner regarding top ten things to know. Expert Reveal: Redevelopment Housing 3:00 p.m. — 4:30 p.m. The topic is housing in redevelopment areas, and not necessarily affordable, but all kinds of housing. Our five panelists from the public and private sector will each be asked to answer questions of our moderator, and the audience, relative to how CRAs most successfully can support housing redevelopment projects. Whether infill, workforce, market or luxury, we will pepper the panelists with our incisive questions while we have this rare opportunity to pick their brains! Moderator: Evan Johnson, Tindale Oliver, Senior Project Manager Awards Dinner This year we are jazzing up the ceremony to be a celebration that is a lot of fun for all. We will recognize the winners of the 2018 Redevelopment Awards, and graduates of the FRA Academy. FRIDAY - OCTOBER 26, 2018 Breakfast 7:30 a.m. — 9:00 a.m. No worries, you don't have to appear at this hour, but beverages and a full hot breakfast will be waiting! Business Meeting 8:30 a.m. Awards Showcase 9:00 a.m. — 10:15 a.m. A fast paced and fun celebration of the details of our winners' successes, big and small. 10:30 am Keynote Presentation Joseph Parilla, Brookings Metropolitan Policy Program 12 noon ADJOURN 8 t 'k [OY �rBN �r � � Y11 RA ADVISORY BOARD ITEM B.3. NEW BUSINESS SUBJECT: Consideration of Purchase of the Property Located at 106 NE 3rd Avenue SUMMARY: In June, 2017 the Grav Inc., as owner, contacted the CRA with respect to selling the property located at 106 NE 3rd Avenue. Due to the proximity of the property to Town Square and the recommended land use/zoning of mixed-use medium (Attachment I - Location Map) an appraisal was ordered and is provided as Attachment 11. The appraised value of the lots as determined by Vance Real Estate Service is $80,100. The owner has agreed to a sales price of $100,000.00. The property is adjacent to the Express Food & Beverage store located on the corner of E. Boynton Beach Blvd. & Seacrest Ave (Attachment I I I - Express Food & Beverage). This is a signficant corner for redevelopment. FISCAL IMPACT: $100,000.00 plus closing costs from Budget Line Item 02-58200-401 CRA P LAN/P ROJ ECT/P ROG RAM: 2016 CRA Redevelopment Plan - Boynton Beach Boulevard District CRA BOARD OPTIONS: 1. Approve the purchase of the property located at 106 NE 3rd Avenue. 2. Do not approve the purchase of the property located at 106 NE 3rd Avenue. 3. Provide alternative direction to CRA staff. ATTACHMENTS: Description D Attachment I - Location Map D Attachment II -Appraisal D Attachment III - Express Food & Beverage r — r � s n a f r � r v p � 14 � it r, m �t e �I a� A e f # y I lg r.. r t,p ! , n rtrYrt�. rYrtrYrt .�, ur,s , ,Q r�nit pi �s,.wt f�� Xlt Yt.G� " , � _ e,Ii rtrYrtrY, YrtrYrt,e trYrtrY,e Y �-A Y Flit s t t!- �.S01U }Y ,i!„t r Cf t{ w co un �n ca � r cd QO � , rC rt _ d” �, rte. aS 114 ,aoY w G7 L ,..� a iY �>i.li tom' s— 411 i, Mir JI Ah F tid ( II Cf' r`' t, n"_ APPRAISAL REPORT VACANT LOT 11 &VACANT PARTIAL LOT 12 106 NORTHEAST 3 AVENUE BOYNTON BEACH,FLORIDA 33435 by Vance Real Estate Service 7481 Northwest Fourth Street Plantation,Florida 33317-2204 for Boynton Beach Community Redevelopment Agency 710 North Federal Highway Boynton Beach, FL 33435 July 2, 2018 Vance Real Estate Service sf, July 2,2018 Boynton Beach Community Redevelopment Agency � �`�`}�' 710 North Federal Highway Boynton Beach, FL 33435 - i i RE: Vacant Lot 11 &Vacant partial Lot 12, 106 Northeast 3 Avenue, Boynton Beach, FL 33435 (Legal description is in the report) Ladies and Gentlemen: In fulfillment of our agreement, we transmit our Appraisal Report, in which we develop an opinion of market value for the fee simple estate in the referenced real property as of July 2, 2018. The report sets forth our value conclusion, along with data and reasoning supporting our opinion. This report was prepared for and our professional fee billed to Boynton Beach Community Redevelopment Agency. Our analyses have been prepared in conformance with the Uniform Standards of Professional Appraisal Practice (USPAP 2018-2019). This report is for exclusive use of the client for possible acquisition. ! Jesse B. Vance, Jr. and Claudia Vance visited the property. If you have questions or further needs, please contact the undersigned. As a result of our analyses, we have developed the following opinion of the market value of the appraised property, subject to definitions, certifications, and limiting conditions set forth in the attached report. EIGHTY THOUSAND ONE HUNDRED DOLLARS $80,100 I (THIS LETTER MUST REMAINATTACHED TO THE REPORT WITH SEVENTY-FOUR(74)NUMBERED PAGES FOR THE VALUE OPINION SET FORTH TO BE CONSIDERED VALID.) Respectfully submitted, Jesse B. Vance, Jr., MAI, SRA, ASA State-Certified General Real Estate Appraiser RZ-85 Claudia Vance, MAI State-Certified General Real Estate Appraiser RZ-173 MBA in REAL ESTATE DEVELOPMENT&MANAGEMENT 7481 Northwest 41h Street,Plantation,FL 33317-2204 954/583-2116 -- TABLE OF CONTENTS Pate Number Title Page i Letter of Transmittal ii Table of Contents iii INTRODUCTION 4 Photos of the u �ectProperty 5 1-3-5 Mile LocationMap 9 1-3-5 Mile Summary of Demographic Statistics 10 Summary of Important Facts and Conclusions 12 DESCRIPTIONS ANALYSES & CONCLUSIONS 13 I entity of Client and Intended User 14 Intended Use 14 Identification of Real Estate Appraised 14 Ownership 14 Property Address and Legal Description 14 Real Estate Tax Analysis 15 Market Area Description 16 Zoning 20 Site Description 22 Real Property Interest Appraised 23 Appraisal Purpose and Definition of Market Value 23 Effective Dates of the Appraisal and Report 24 Scope of the Work 24 Summary of Information Considered 25 Property History 26 Highest and Best Use 26 SALES COMPARISON APPROACH- LAND VALUE 29 Land Sales es Location Map 31 Land Sales Documentation 32 Land Sales Comparison Chart 42 Valuation by Sales Comparison 43 FINAL VALUE OPINION 47 Certification and Limiting Conditions 48 ADDENDA 50 Acquiring deeds 51 "R-2" zoning ordinance excerpt 54 "MU" zoning ordinance excerpt 62 USPAP Standards Rule 2-2a 64 Qualifications of the Appraisers 66 INTRODUCTION as Appraised land looking east from N Seacrest Blvd r, i , Appraised land looking southwest from NE 3 Avenue 5 fl S A ki i d �ss s � Appraised land looking southeast from N Seacrest Blvd F r F �J Y3A M y SPEEDi LIMIT e 4 - l n 3 k - Alley to the south of the appraised land, looking east 6 ��>ii is{r sSi�a�,y orf "Pl Yil t� ss; g sS s,' y I!s}s ch s rs'1��F s"tl�� s7 s t s f 4,,, ) i s P } 1 r ` - 4 � � S� z s ' ° it Fy�i�l � i ;F tss• � � �� s� �I Wk 00 } t t{�' d 1 ti rcu. 1 1 A w ^. dui nn.vG r. ^^^atWv iVY t w' u a -,y ycs'ftrl t Rd CorridOT .. =8+7 4 1.bke f]Fth f ukmj Avv 6M Avo MxpM I t ('. —,Lr t '� "T La P, }, fpp I 1 r ( Lantana ' I' 4a}r1ro4ux4R33 HyrPmR aE0, t5 ,i r IP .r I y i iA Rd x 1 Boaymb Beath Vd ,_, -N1 Boynt -Beach$ 'fwd�(8t i .. - @haft each - W'wticA4f gnjr� � pll k 4 "" P C—nir, lab 111'.,. C Y^ Clair Bf3aCf5,� "W Allanac Ave Kings Point10111 sa i, '�...Lrwt1 f31vd Lara[am$iYd .,., I Hgh[and 1-3-5 MILE RADII FROM THE VALUED PROPERTY 106 NE 3 Avenue Boynton Beach, Florida 9 • Gesn" 106 NE 3rd St, Boynton Beach, Florida, 33435 VANCE REAL ESTATE SERVICE Rings: 1, 3, 5 mile radii 1 mile 3 miles 5 miles Population 2000 Population 12,290 66,432 156,354 2010 Population 12,570 74,535 173,369 2018 Population 14,715 82,126 188,716 2023 Population 16,002 87,644 199,929 2000-2010 Annual Rate 0.23% 1.16% 1.04% 2010-2018 Annual Rate 1.93% 1.18% 1.03% 2018-2023 Annual Rate 1.69% 1.31% 1.16% 2018 Male Population 49.2% 47.8% 47.7% 2018 Female Population 50.8% 52.2% 52.3% 2018 Median Age 41.9 44.4 47.2 In the identified area, the current year population is 188,716. In 2010, the Census count in the area was 173,369. The rate of change since 2010 was 1.03% annually.The five-year projection for the population in the area is 199,929 representing a change of 1.16% annually from 2018 to 2023. Currently, the population is 47.7% male and 52.3%female. Median Age The median age in this area is 41.9, compared to U.S. median age of 38.3. Race and!Ethnicity 2018 White Alone 47.9% 60.2% 64.9% 2018 Black Alone 45.0% 31.6% 26.4% 2018 American Indian/Alaska Native Alone 0.3% 0.3% 0.3% 2018 Asian Alone 1.1% 1.8% 2.2% 2018 Pacific Islander Alone 0.0% 0.0% 0.0% 2018 Other Race 3.2% 3.4% 3.6% 2018 Two or More Races 2.5% 2.7% 2.5% 2018 Hispanic Origin (Any Race) 13.9% 16.6% 16.9% Persons of Hispanic origin represent 16.9% of the population in the identified area compared to 18.3% of the U.S. population. Persons of Hispanic Origin may be of any race.The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 64.6 in the identified area, compared to 64.3 for the U.S. as a whole. Households 2000 Households 4,774 29,007 68,478 2010 Households 4,923 32,125 74,967 2018 Total Households 5,861 35,382 81,185 2023 Total Households 6,417 37,793 85,967 2000-2010 Annual Rate 0.31% 1.03% 0.91% 2010-2018 Annual Rate 2.14% 1.18% 0.97% 2018-2023 Annual Rate 1.83% 1.33% 1.15% 2018 Average Household Size 2.50 2.29 2.30 The household count in this area has changed from 74,967 in 2010 to 81,185 in the current year, a change of 0.97% annually. The five-year projection of households is 85,967, a change of 1.15% annually from the current year total. Average household size is currently 2.30, compared to 2.29 in the year 2010.The number of families in the current year is 46,505 in the specified area. Data Note:Income is expressed in current dollars Source:U.S. Census Bureau,Census 2010 Summary File 1. Esri forecasts for 2018 and 2023. Esri converted Census 2000 data into 2010 geography. June 30, 2018 10 • Gesn" 106 NE 3rd St, Boynton Beach, Florida, 33435 VANCE REAL ESTATE SERVICE Rings: 1, 3, 5 mile radii 1 mile 3 miles 5 miles Median Household Income 2018 Median Household Income $46,115 $50,401 $52,750 2023 Median Household Income $54,030 $56,837 $60,244 2018-2023 Annual Rate 3.22% 2.43% 2.69% Average Household Income 2018 Average Household Income $72,997 $72,052 $77,500 2023 Average Household Income $87,516 $85,058 $91,723 2018-2023 Annual Rate 3.69% 3.37% 3.43% Per Capita Income 2018 Per Capita Income $29,981 $31,695 $33,753 2023 Per Capita Income $36,108 $37,319 $39,838 2018-2023 Annual Rate 3.79% 3.32% 3.37% Households by Income Current median household income is$52,750 in the area, compared to $58,100 for all U.S. households. Median household income is projected to be $60,244 in five years, compared to $65,727 for all U.S. households Current average household income is$77,500 in this area, compared to $83,694 for all U.S. households. Average household income is projected to be $91,723 in five years, compared to $96,109 for all U.S. households Current per capita income is $33,753 in the area, compared to the U.S. per capita income of$31,950. The per capita income is projected to be $39,838 in five years, compared to $36,530 for all U.S. households Housing 2000 Total Housing Units 5,871 34,928 81,699 2000 Owner Occupied Housing Units 3,143 20,914 51,845 2000 Renter Occupied Housing Units 1,631 8,093 16,633 2000 Vacant Housing Units 1,097 5,921 13,221 2010 Total Housing Units 6,710 41,067 93,339 2010 Owner Occupied Housing Units 2,934 20,608 52,623 2010 Renter Occupied Housing Units 1,989 11,517 22,344 2010 Vacant Housing Units 1,787 8,942 18,372 2018 Total Housing Units 7,853 44,352 99,414 2018 Owner Occupied Housing Units 3,148 20,580 52,492 2018 Renter Occupied Housing Units 2,712 14,802 28,694 2018 Vacant Housing Units 1,992 8,970 18,229 2023 Total Housing Units 8,533 46,852 104,654 2023 Owner Occupied Housing Units 3,549 22,401 56,497 2023 Renter Occupied Housing Units 2,867 15,391 29,469 2023 Vacant Housing Units 2,116 9,059 18,687 Currently, 52.8% of the 99,414 housing units in the area are owner occupied; 28.9%, renter occupied; and 18.3% are vacant. Currently, in the U.S., 56.0% of the housing units in the area are owner occupied; 32.8% are renter occupied; and 11.2% are vacant. In 2010, there were 93,339 housing units in the area - 56.4% owner occupied, 23.9% renter occupied, and 19.7% vacant. The annual rate of change in housing units since 2010 is 2.84%. Median home value in the area is$217,639, compared to a median home value of$218,492 for the U.S. In five years, median value is projected to change by 2.71% annually to$248,743. Data Note:Income is expressed in current dollars Source:U.S. Census Bureau,Census 2010 Summary File 1. Esri forecasts for 2018 and 2023. Esri converted Census 2000 data into 2010 geography. June 30, 2018 11 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS PROPERTY APPRAISED: Vacant Lot 11 & Vacant partial Lot 12 106 Northeast 3 Avenue Boynton Beach, FL 33435 OWNERSHIP: GRAV, Inc. 864 Jeffery Street Boca Raton, FL 33487 LAND AREA: Lot 11: 7,150 square feet Lot 12,part: 4,291 square feet Total: 11,441 square feet (Size is from public records, no sketch of survey is available for review) IMPROVEMENTS: None ZONING: "R-2", Single and two-family residential district in the city of Boynton Beach FUTURE LAND USE: "MU-Med", Mixed Use Medium intensity, in the city of Boynton Beach APPRAISAL PURPOSE: To develop an opinion of market value INTEREST APPRAISED: Fee simple CURRENT USE: Vacant land HIGHEST AND BEST USE: Any mixed use permitted in the future "MU-Med" land use district when the appraised land is assembled with other parcels to a minimum standard land area of 0.75 of an acre (32,670 square feet). VALUE BY THE SALES COMPARISON APPROACH: EIGHTY THOUSAND ONE HUNDRED DOLLARS 80 100 VALUATION DATE: July 2, 2018 Exposure Time: 6 months prior to selling at the appraised value 12 DESCRIPTIONS, ANALYSES, CONCLUSIONS APPRAISAL REPORT This is an APPRAISAL REPORT that complies with Standard Rule 2-2(a) of the Uniform Standards of Professional Appraisal Practice (USPAP 2018 - 2019) 2-2(a)(i) State the identity of the client; state the identity of any intended users by name or type; The client and intended user of this report is the Boynton Beach Community Redevelopment Agency. 2-2(a)(ii) State the intended use of the appraisal; The intended use of the appraisal is for possible acquisition of the appraised property. Any other use is not intended. 2-2(a)(iii) Summarize information sufficient to identify the real involved in the appraisal, including the physical, legal and economic property characteristics relevant to the assignment; Owner: GRAV, Inc. 864 Jeffery Street Boca Raton, FL 33487 Property Address: 106 Northeast 3 Avenue Boynton Beach, FL 33435 Legal Description: Lot 11 and part of Lot 12, Block 1, SHEPARD- FUNK ADDITION TO THE TOWN OF BOYNTON, FL, Plat Book 2, page 15, Palm Beach County, FL (Complete legal description on the acquiring deeds in the Addenda) Census Tract No. 61 14 APPRAISAL REPORT (continued) 2-2(a)(iii) Summarize information sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic characteristics relevant to the assignment; (continued) Real Estate Tax: Parcel Control Numbers: 08 43 45 21 30 001 0110 & 0120 Land Value: $27,748 Improvement Value: -0- Total Market Value: $27,748 Assessed Value: $27,748 Ad Valorem Tax: $ 592 Non Ad Valorem Tax: $ -0- Total Tax: $ 592 No exemptions for this property. Properties are assessed in arrears by the county property appraiser. The tax bill is issued in November and a 4% discount is given to a tax payer if the amount is paid in November. The discount diminishes until March, when the tax is due and payable. In Florida, the taxable (assessed) value for non- homesteaded properties can be increased to a maximum of 10% per year, from tax year 2009 going forward, based on a constitutional amendment voted on by the electorate of the state. There are some exceptions which relate to school taxing districts. However, the millage of the city can increase; thus, real estate taxes can continue to increase from year to year. The 10% per year increase cap accounts for the difference between the Total Market Value of the appraised property and the Assessed Value. 15 APPRAISAL REPORT (continued) 2-2(a)(iii) Summarize information sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic characteristics relevant to the assignment; (continued) Market Area Description: Boundaries and Market Composition & Transportation Infrastructure The general market area is the City of Boynton Beach in eastern-central Palm Beach County. Population of the city is about 72,000 residents; land area of the municipality is about 16 square miles situated between Delray Beach on the south and Lake Worth on the north. The town was named for an early developer, Nathan Boynton, a former major in the Union Army in the Civil War. The city was founded in 1898 and incorporated in 1920. Most of the original buildings were destroyed in the hurricane of 1926, though a few remain. Others which were constructed in the early 1920's are still in use with repairs and replacements over the decades. Time and economic trends take a toll on properties; thus, in 1984 a redevelopment plan was adopted for the Community Redevelopment Area (CRA) in the city. It covers 1,650 acres in the central part of the municipality west of the Intracoastal Waterway. One of the districts in the CRA is the immediate subject market area known as the Boynton Beach Boulevard corridor, extending from the Florida East Coast (FEC) Railroad on the east to Interstate 95 on the west. The width of this district is narrow only several blocks from NE 3 Avenue on the north to Ocean Avenue a few blocks to the south. Another district in the CRA, Heart of Boynton (HOB), contains 380 acres, sitting to the north of the subject district. The Downtown District is to the east; the Cultural District is to the south. Agriculture and farming had been important activities in past centuries in Boynton Beach. Commerce came to the area when Henry Flagler extended the Florida East Coast Railway from West Palm Beach to Miami in 1896. The railroad was the main mode of transportation to bring visitors and manufactured products to the city as well as transporting produce grown in the vicinity out of the area to other cities in the southeastern United States. Now the railroad is primarily used for freight transportation and the new Brightline rapid passenger service; however, there are no depots in the city for this train. 16 APPRAISAL REPORT (continued) 2-2(a)(iii) Summarize information sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic characteristics relevant to the assignment; (continued) Boynton Beach Boulevard is the principal east-west artery in the subject market area, having an interchange with Interstate 95 on the west side of the subject district. The boulevard continues west through Palm Beach County to its terminus at State Road 7/ U S Highway 441. Two miles east of State Road 7, it has an interchange with Florida's Turnpike. Boynton Beach Boulevard commences on the east at U S Highway 1, just to the east of the FEC Railroad. U S Highway 1 is the main north-south artery through eastern Palm Beach County and extends along the eastern seaboard of the United States. Seacrest Boulevard is a main north-south artery through the City of Boynton Beach and south into Delray Beach. Martin Luther King, Jr. Boulevard is an east-west thoroughfare through the Heart of Boynton. The immediate subject market area is easily accessible by main roads and Interstate 95. Property types in the Boynton Beach Boulevard district are smaller, older commercial establishments flanking the boulevard. At the signalized intersection of Boynton Beach Boulevard and Seacrest Boulevard are the existing City Hall complex, United States Post Office and a house of worship complex. The City Hall complex will be demolished and replaced by the Boynton Beach Town Square project which will be described in the Economic Trends sub-section of this report. To the north and south of Boynton Beach Boulevard are older single family residences and a few small multi-family properties. Population Trends The demographic survey in the beginning of the report of 1, 3, and 5 mile radial circles from the appraised property shows the median household income for 2018 in the one-mile radius is $46,115, for three miles it is $50,401, and $52,750 for the five mile circle. All are lower than the median household income for Palm Beach County of $54,400, even though the east parts of the circles include the residents all the way to the Atlantic Ocean. 17 APPRAISAL REPORT (continued) 2-2(a)(iii) Summarize information sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic characteristics relevant to the assignment; (continued) In the one-mile circle, population is 14,715. In three miles, population increases to 83,126; at five miles, it is 188,716. However, about one-third of the three and five mile circles are over the Atlantic Ocean. Annual growth rate is anticipated to be 1.16% to 1.69% in the three circles during the next five years as the economy and job market improves in South Florida and new multi-family residential complexes are constructed. The median age in the market area is 41.9 years compared to the U. S. median age of 38.3 years. 53% of the housing units are owner occupied, with 29% rented. The percentage of renters is higher in this market because many of the single family houses are owned by investors who purchased them after the economic crash in 2008. Vacancy is reported to be 18%; however, this amount is high due to the undercount of the other two categories. Median home value in the five-mile area is $217,639, including waterfront homes, compared to median home value of$218,492 in the United States. The life cycle stage of the market area is stability, a period of equilibrium without marked gains or losses, after a period of decline. The purpose of the Boynton Beach Community Redevelopment Plan is to revitalize the market area with new housing options and business opportunities. After decades of planning and purchasing properties for redevelopment, the CRA Plan has tangible results as will be discussed in Economic Trends. Economic Trends During 2005-2006, the subject market area was experiencing a rise in property prices due primarily to the availability of financing with adjustable rate mortgages. Interest rates adjusted upward, but rental rates of multi-family properties did not. For single family residences, interest rates on mortgages adjusted upward, but homeowners' incomes did not increase. Scenarios were the same for many property types, all with the same result of owners' inability to make the payments and mortgages foreclosed. This situation was exacerbated by the economic crash in late 2008, followed by the Great Recession. 18 APPRAISAL REPORT (continued) 2-2(a)(iii) Summarize information sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic characteristics relevant to the assignment; (continued) The foreclosure cycle appears to have ended. Currently, sales are between individuals or investors who previously purchased the properties from foreclosing lenders. Current buyers will reside in the properties or hold them in their investment portfolios. Third parry lenders are providing financing to investors and residents, at high loan to price ratios. Sale prices for single-family residences in the subject market area and close vicinity are in the range of $85,000 to $180,000, depending on building size, age and condition. Price range for multi-family dwellings are from about $70,000 to $100,000 per unit based on the same factors. Land unit prices are mostly from about $4.00 to $7.00 per square foot. Revitalization in the CRA is taking place along US Highway 1, in the southern part of the corridor near Ocean Avenue and Boynton Beach Boulevard with projects such as 500 Ocean, with 341 residential units, 20,000 square feet of retail space and 6,000 square feet of office. Ocean One at 114 N Federal Highway is planned for 358 apartments, 12,075 square feet of retail, 120 hotel room and 439 parking spaces. The Villages at East Ocean Avenue were approved for 371 dwelling units and 15,757 square feet of commercial space. Town Square, a major redevelopment project, will take place in three sections extending from the south side of Boynton Beach Boulevard south to SE 2 Avenue, encompassing 16.5 acres of land. The north section covers the area of the old city hall and police station which will be demolished and removed. The projects consists of the following: • North parcel —225 residential units, 120 hotel rooms, 65,000 square feet of office/retail space and 927 space parking garage • Middle parcel—200 residential units, 18,887 square feet of retail space • South parcel — 280 residential units, 820 space parking garage, 4,000 public space Included in the project are spaces for a new city hall, police station, fire station and park. Renovation of the historic high school is part of the project. The first phase of the project is underway. 19 APPRAISAL REPORT (continued) 2-2(a)(iii) Summarize information sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic characteristics relevant to the assignment; (continued) The redevelopment goal is to transform Boynton Beach from a retirement community to a vibrant city where residents can enjoy living and working in an attractive setting. Conclusion The immediate subject market area of the Boynton Beach Boulevard corridor district serves as the linkage between the city and the rest of Palm Beach County, and it is the main business district of the eastern part of the city. It is easily accessible by main roads and Interstate 95. The corridor will grow in importance when the Town Square project is completed. Older properties will either be renovated or razed to make way for new ones to take advantage of the wave of development in Boynton Beach and Delray to the south. Land Use: Medium Density Residential, maximum density 9.58 dwelling units per acre Zoning: "R-2", Single and Two-family Residential District with the purpose to implement the medium density residential future land use map classification of the comprehensive plan. The intent of the district is to stabilize and protect existing residential neighborhoods with density no greater than 10 dwelling units per acre, and allow limited types of non-residential uses. Minimum lot area is 4,500 square feet per unit for a duplex; minimum lot frontage is 75 feet. Single family dwellings shall be constructed on lots that are no less than 6,000 square feet with a width of at least 60 feet and follow the building and site regulations of the "R-1", Single Family District. Excerpt from the zoning code is in the Addenda. 20 APPRAISAL REPORT (continued) 2-2(a)(iii) Summarize information sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic characteristics relevant to the assignment; (continued) The appraised site is comprised of two platted lot, with part of the west lot taken in the past for the widening of Seacrest Boulevard. Lot 11 was platted at 50 feet in width; the remainder of Lot 12 appears to be 30 feet. Since Lot 11 was platted prior to the current zoning standards, it appears to be a legal non-conformity to be used as for a single family residence. The size of Lot 12 is substandard for a single family residence. Together, the two lots have a combined width of 80 feet and size of 11,441 square feet, meeting the criteria of 75 foot width for a duplex and 4,500 square feet per unit or 9,000 square feet. However, determination of use of the sites is made by Boynton Beach City officials. Future Land Use: The recommended future land use for the subject site in the Boynton Beach Boulevard District is "MU-Med", Mixed Use Medium Intensity. The zoning district would potentially be the same. Single family residential use is not permitted in the mixed use districts. Minimum lot area for "MU- Med" is 0.75 of an acre or 32,670 square feet. Individual whole lots in the subject plat contain 7,150 square feet or less. Most probably, five lots would have to be assembled to be of sufficient size for development. Minimum lot frontage is 100 feet. Maximum density is 50 units per acre. An excerpt from the zoning ordinance is in the Addenda. Permitted residential uses in mixed use districts include two-family dwellings, multi-family dwellings, mixed use, live-work units, and townhouses. 21 APPRAISAL REPORT (continued) 2-2(a)(iii) Summarize information sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic characteristics relevant to the assignment; (continued) Commercial uses are only permitted on arterials and collector roads. Sites on local roads would be restricted to residential uses. City officials make the determination of allowed uses and permitted density of sites. Site Description: As will be discussed, the Highest and Best Use of the two appraised lots is for them to be used as one site for either current duplex development or for mixed use in conjunction with lots to the east. In either event, the lots will be described as one site here. The shape of the site is rectangular, less a radius off of the northwest corner. No sketch of survey is available for review. Approximate size and dimensions are from public records. North boundary on NE 3 Avenue: 80 feet East boundary on adjacent property: 143 feet South boundary on alley: 80 feet West boundary on Seacrest Boulevard: 143 feet Total: Approximately 11,441 square feet or 0.26 of an acre Utilities: All utilities are available to the site. Access: The site is accessible via Seacrest Boulevard, a four- laned thoroughfare with sidewalks and streetlights, and by NE 3 Avenue, a two- laned, local road with streetlights, but no sidewalks. Seacrest Boulevard has a signalized intersection with Boynton Beach Boulevard one block to the south of the appraised site. 22 APPRAISAL REPORT (continued) Easements: No sketch of survey to review to note easements. If they exist, utility easements would most probably be around the perimeter of the lot. Improvements: None Environmental Assessment: No assessment was available for review. 2-2(a)(iv) State the real property interest appraised; A person who owns all the property rights is said to have fee simple title. A fee simple title implies absolute ownership unencumbered by any other interest or estate. Partial interests in real estate are created by selling, leasing, et cetera. Partial estates include leased fee and leasehold estates. The interest appraised is fee simple. 2-2(a)(v) State the type and definition of value and cite the source of the definition; The purpose of the appraisal is to develop an opinion of market value of the subject property as of July 2, 2018. MARKET VALUE: a type of value, stated as an opinion, that presumes the transfer of a property (i.e., a right of ownership or a bundle of such rights), as of a certain date, under specific conditions set forth in the definition of the term identified by the appraiser as applicable in an appraisal. The conditions included in market value definitions establish market perspectives for development of the opinion. These conditions may vary from definition to definition but generally fall into three categories: 1. the relationship,knowledge, and motivation of the parties(i.e.,seller and buyer); 2. the terms of sale(e.g.,cash,cash equivalent,or other terms);and 3. the conditions of sale(e.g., exposure in a competitive market for a reasonable time prior to sale). Market value appraisals are distinct from appraisals completed for other purposes because market value appraisals are based on a market perspective and on a normal or typical premise. These criteria are illustrated in the following definition of Market Value*, provided here only as an example. 23 APPRAISAL REPORT (continued) Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: 1. buyer and seller are tvpically motivated 2. both parties are well informed or well advised and acting in what they consider their own best interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and S. the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. * This example definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform,Recovery, and Enforcement Act(FIRREA)of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration(NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994,and in the Interagency Appraisal and Evaluation Guidelines,dated December,2010. Florida Court Definition: "Market Value is the price that a seller willing, but not compelled to sell, and a buyer willing, but not compelled to buy, would agree to in fair negotiations with knowledge of all the facts." [Source: Fla. Power & LiFht Co., v. Jenniwl 518 So.2d 895 (Fla. 1987)] 2-2(a)(vi) State the effective date of the appraisal and the date of the report; A) Effective Date of the Appraisal: July 2, 2018 B) Date of the Report: July 2, 2018 2-2(a)(vii) Summarize the scope of work used to develop the appraisal; The appraisal problem is to develop an opinion of value of the property based on its highest and best use. The appraiser inspected the property and photographed it. A thorough investigation was made into the physical characteristics of the property that could affect its value. The market area was surveyed to determine its stage of the life cycle. Research was conducted to ascertain economic factors that might influence value. Data research consisted of collecting, confirming, and reporting land sales. 24 APPRAISAL REPORT (continued) The process included searches and analyses, inspections and confirmations, and final reporting. The appraiser examined several sources of sales data, including the multiple listing service, Palm Beach County Appraiser's records, the public records, and data from the appraiser's plant. For Sales Comparison Approach-Land Valuation, land sales are compared to each other and to the property under appraisement to arrive at an opinion of value. 2-2(a)(viii) Summarize the information analyzed, the appraisal methods and techniques employed, and the reasoning that supports the analyses, opinions, and conclusions; exclusion of the sales comparison approach, cost approach, or income approach must be explained; The information analyzed and appraisal method used is detailed in the valuation section of the report. Further, the reasoning that supports the analyses, opinion, and conclusion is explained in that section. Cost Approach is not used because there are no structures on the site. The Income Approach is not employed in this appraisal because most land is typically purchased for immediate use, not for lease. Sales Comparison Approach is the best method to value vacant land. Exclusion of the Cost Approach and Income Approach still produce a creditable report. SR I-5 When the value opinion to be developed is market value, if such information is available in the normal course of business: a) analyze all agreements of sale, options, or listings of the subject property current as of the effective date of the appraisal; and There are no known agreements for sale, options or listings of the subject property as of the effective date of appraisal. 25 APPRAISAL REPORT (continued) b) analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal. Lot 11 and part of Lot 12 were acquired by warranty deed on January 10, 2014 for $19,900. Ownership was transferred by quit claim deed on July 14, 2017 in a non-arm's length transaction. Copies of the deeds are in the Addenda. The amount of the sale price and date of earlier sale are too far removed from the date of valuation to be of any relevance in this appraisal. 2-2(a)(ix) State the use of the real estate existing as of the date of value, and the use of the real estate or personal property reflected in the appraisal; The use of the real estate on the date of valuation is vacant land, and it is this use which is reflected in the appraisal. No personal property is included in the valuation. 2-2(a)(x) When an opinion of highest and best use was developed by the appraiser, summarize the support and rationale for that opinion. HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Physically Possible as Vacant No soil or subsoil tests are available for review. However, there are residential structures on the surrounding properties. The land is level and filled to street grade. Land size is approximately 11,441 square feet and rectangular in shape. All utilities are available to the site. The site is accessible via Seacrest Boulevard and Northeast 3 Avenue. Physical constraint to develop the site is its size which governs the size and number of potential improvements which can be placed on it. 26 HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Legally Permissible as Vacant Legal restrictions to the development of the site consist of land use designation, building and zoning codes, platting restrictions and restrictive covenants. Land use designation is Medium Density Residential, maximum density 9.58 dwelling units per acre. Recommended future land use is "MU- Med", Mixed Use Medium Density, 50 dwelling units per acre. Minimum lot area would be 0.75 of an acre or 32,670 square feet. The site (two lots) concerned contains 11,441 square feet with a width of 80 feet, not meeting the standards of the "MU-Med" district. It would most probably have to be assembled with adjoining lots to meet the requisite size. Current zoning is "R-2", One and Two-family residential district. A two- family residence might be permitted; however, single family residence would not be allowed in a mixed use zoning or land use district. The subject site appears to meet the size and width requirement for a duplex to be constructed on the site. Financially Feasible as Vacant The third test of Highest and Best Use is economic feasibility. Demand for a certain property type must be evident for it to be feasible. For it to be financially feasible, the use must be marketable and provide the investor with a competitive return when compared with alternate uses. The subject market area has been improved with single-family residences and small multi-family dwellings for almost 100 years. Structures come to the end of their useful lives, improvements are razed and the sites are redeveloped with modern projects. There are examples of this cycle throughout the subject market area. New single family redevelopment projects in the subject vicinity are Ocean Breeze West with 21 homes, Eastview Park with market rate houses ranging from $255,000 to $300,000 constructed by D R Horton, and four new houses on West Martin Luther King, Jr. Boulevard sold from $166,000 to $195,000. The four houses are the result of the work of the Boynton Beach CRA and Boynton Beach Faith-Based Community Development Corporation. Higher density residential projects or mixed use projects are being constructed to the south of Boynton Beach Boulevard and to the east of Seacrest Boulevard. 27 HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Current financially feasibility for the lots concerned is to develop them together with a two-family residence. As discussed, partial Lot 12 is too small to be independently improved. Example of a partial lot and whole lot purchased or used together exist in the immediate subject market area as follows: • 106 NE 4 Avenue, 1.5 lots purchased in December, 2017 for $95,000 • 103 NE 3 Avenue, 1.5 lots owned by same entity • 121 NE 3 Avenue, 2.5 lots owned by same entity • 127 NE 3 Avenue, 1.5 lots owned by the same entity The subject lots have been under the same ownerships for many years, with the Highest and Best Use for them to be improved that way. The most probable buyer would be a local developer who is familiar with the revitalization of the subject market area and wanting to be part of it. More intense future development would come when 0.75 of an acre or greater can be assembled. Maximally Productive as Vacant In summary, the Highest and Best Use of the appraised property as vacant is currently for a two-family residence. Such uses would be physically possible, most probably legally permissible, financially feasible and maximally productive. 2-2(a)(xi) Clearly and Conspicuously: State all extraordinary assumptions and hypothetical conditions; and state that their use might have affected the assignment result. There are no extraordinary assumptions or hypothetical conditions in this report. 2-2(a)(xii) Include a signed certification in accordance with Standards Rule 2-3 See signed certification in report. 28 SALES COMPARISON APPROACH LAND VALUATION rt IDENTIAL RR SUBJECT & LAND SALE LOCATION MAP 20TH AVE NE J m� NE 20TH LN BOYfVT6N BAY CIR�, l 11 I+ z p Fu z `tea vl i NE 7 p 17TH ALE PJW NE 17TH ALE-z f t l NV+iIEfH LT �z r4 16rH LT,.NE 'r MANATEE BAYE1 H N ❑ z m zI~— l R NI 16TH AVE NE zlF- C vi w—u~i MANATEE BAY BR { J 51 ' z� ❑ m �� MR: z F �I +� NATEE&AY OR rn Iii,�; i� rzv z g 1. STH CT NE', £ 1 z NE 147Ff ALE 8 SHORE DR Eayn Bin Carrel . , 'SALE 4 M'8 13 CT �NE 13TH AVE b ��) NW 12TH AWE �� N 7TH AVE SALE a ==z +4` RIDER RD NW 10TH AVE O�z MARTIN LEP 7P4EIR I I G �Ii 9TH_AVE df �.. NE 4TH AVE >�r NE aT SALE 2NE s5 VE SALE i Mw erA IN SALE 5 �L �� AWE =i v 3} z wa NE TFH 9 ff NWf JTH AVE �' �,� (r++ NE TTH AVE z� r fE J '� [:NSTH AW,E.,,- £ N {�� /� NE 1TH AVE r NE IT� £ £1 �; = N W STH AWE � tE 5TH AVE VV 4THRVE NE 4TH AVE AVE �� Jg rte— NE 3RD A LE V�p y N ❑ rn��i ' � xaa � I� in �� EBOYN TE7N BEACH BLVD r� SUBJECT }} d fV J 1ST AVE NE IST A4'E i +E t7 OCEAN I _ zJ z W1 CERN AVE � 1£ ` — ��,m EA m SE 15T AVE �IST AVE � I�� 4 S E�E JI! °. E4TTH[AVEJ"" ,coC � S SW 4TH AVE SW 4TH��AVE � JI1� SW STH AVE SE STH AVE �HORI ST'V �� 1 H 6TH AVE SE 6TH AVE - 6TH RLE H1�Rf2ON55pE �._ i ft £ 1 Data use subject to license. Q DeLorme.DeLorme Street Atlas DSAS 2000_ Q 466 806 1266 1600 2066 wvnv.delorme.com MN(6.7°W) Data Zoom 14-0 31 VACANT LAND SALES SALE NO. 1 LEGAL DESCRIPTION Lot 5, ROBERT WELLS' SUBDIVISION, Plat Book 11, page 66,Palm Beach County, FL, less the north 10 feet for road RECORDED O. R. Book 29172,Page 1071,Palm Beach County Records GRANTOR Larann Land Investments, LLC GRANTEE Boynton Beach Community Redevelopment Agency DATE OF SALE June 15,2017 LOCATION 340 East Martin Luther King, Jr. Boulevard Boynton Beach, Florida ZONING "R-2", Single and two-family residential district FUTURE LAND USE "MU-Ll",Mixed Use Low Intensity SALE PRICE $50,000 LAND SIZE 7,750 square feet(50' x 155') UNITS OF COMPARISON $6.45 per square foot FOLIO NUMBERS 08-43-45-21-04-000-0050 CONDITIONS OF SALE Cash sale. Arm's length transaction. CONFIRMED Grantee, Boynton Beach CRA COMMENTS Boynton Beach CRA is acquiring properties in the area to be assembled into larger sites and readied for redeveloped. 32 4. g ag Kd g.nr�4uvd 1 1 ) Oil mmom LA D SALE 1 340 EAST MARTIN LUTHER KING, JR. BOULEVARD BOYNTON BEACH, FL 33435 33 VACANT LAND SALES SALE NO. 2 LEGAL DESCRIPTION Lot 27, Block 1 of E. Roberts Addition to Boynton, FLA, Plat Book 1,Page 123 of Palm Beach County Public Records. RECORDED O. R. Book 28358,Page 1638, Palm Beach County Records GRANTOR Larann Land Investments, LLC GRANTEE Bride of Christ Tabernacle, Inc. DATE OF SALE June 6,2016 LOCATION 199 E. Martin Luther King Blvd. (NE 10 Avenue) Boynton Beach, Florida ZONING "R-2"Residential/Duplex FUTURE LAND USE "MU-Ll",Mixed Use Low Intensity SALE PRICE $50,000 LAND SIZE 7,000 square feet(50.00' x 140') UNITS OF COMPARISON $7.14 per square foot FOLIO NUMBER 08-43-45-21-27-001-0270 CONDITIONS OF SALE Arm's length cash transaction. CONFIRMED Grantee: Mr. Claude Maxime COMMENTS Purchased by adjacent church for church parking. 34 i tfi�e y, . ME lk�r Aem w , 11 , ryry - y"� Y , ,:reran iwn®er r;ie. �r tga�d ng ar bivsl- e a{;,.u,v�.ar�er bang.nr�srvra _._: '' g -- �rwarmn i.�r�a.r i 1 , a LAND SALE 2 199 E MARTIN LUTHER KING, JR. BLVD. BOYNTON BEACH, FL 35 VACANT LAND SALES SALE NO. 3 LEGAL DESCRIPTION Lots 9 and 10, Block 1, THE MEEKS AND ANDREWS ADDITION TO BOYNTON, Plat Book 5, page 84, Palm Beach County, FL RECORDED O. R. Book 29294,Page 1058,Palm Beach County Records GRANTOR Iran Guzman, et al GRANTEE Albert Thomas, et al DATE OF SALE August 10,2017 LOCATION 309 NE 11 Avenue and 1106 NE 2 Street Boynton Beach, Florida ZONING "R-2", Single and two-family residential district FUTURE LAND USE "MDR", Medium Density Residential SALE PRICE $79,000 LAND SIZE 17,629 square feet(approximately 115' x 155') UNITS OF COMPARISON $4.48 per square foot FOLIO NUMBERS 08-43-45-21-22-001-0090, 0100 CONDITIONS OF SALE Cash sale. Arm's length transaction. CONFIRMED Kelly Louidort for grantee COMMENTS Two adjacent lots purchased for future residential use. 36 -1 91 m. its . � !.�,i1➢Uig, ,�.�.,,4u.t o ME 12th 0.ve �ME`12tlt"Ave NE 12th P.We.,,; i,: - ll u , q � s J I w'. i � h N 4 � i I a� NE 11 fli'Ave tt r '. NE 79 fh�'A P k R lm S—h c L ND SALE 3 309 NE 11 Avenue & 1106 NE 2 Street Boynton Beach, FL 37 VACANT LAND SALES SALE NO. 4 LEGAL DESCRIPTION Lots 340-341, CHERRY HILLS, Plat Book 4, page 58, Palm Beach County, FL, RECORDED O. R. Book 29557,Page 221,Palm Beach County Records GRANTOR FR Investments Group, LLC GRANTEE PJMC LLC DATE OF SALE December 21,2017 LOCATION 515 NW 11 Avenue Boynton Beach, Florida ZONING "R-2", Single and two-family residential district FUTURE LAND USE "MDR", Medium Density Residential SALE PRICE $32,500 LAND SIZE 5,000 square feet(50' x 100') UNITS OF COMPARISON $6.50 per square foot FOLIO NUMBERS 08-43-45-21-14-000-3400 CONDITIONS OF SALE Cash sale. Arm's length transaction. CONFIRMED Juan Franco, grantor COMMENTS This lot and the one adjacent to the west were purchased for a total of$53,000 in August, 2016. 38 - .di i t a . v i dN;97 tit Ave tJ441 t 1tk�Ave t+thPV 11'�t Ave 4n t,f A IF� LAN SALE 4 515 NORTHWEST 11 AVENUE BOYNTON BEACH, FL 39 VACANT LAND SALES SALE NO. 5 LEGAL DESCRIPTION Lot 13 and the East 38 feet of Lot 14, HILLTOP VILLAGE, Plat Book 24,page 70,Palm Beach County, FL RECORDED O. R. Book 29551,Page 1131,Palm Beach County Records GRANTOR Eddie Thomas et al GRANTEE Boynton Beach Community Redevelopment Agency DATE OF SALE December 21,2017 LOCATION 230 West Martin Luther King, Jr. Boulevard Boynton Beach, Florida ZONING "R-2", Single and two-family residential district FUTURE LAND USE "MDR", Medium Density Residential SALE PRICE $81,500 LAND SIZE 11,648 square feet(irregular shape) UNITS OF COMPARISON $7.00 per square foot FOLIO NUMBERS 08-43-45-21-09-000-0130 CONDITIONS OF SALE Cash sale. Arm's length transaction. CONFIRMED Grantee, Boynton Beach CRA COMMENTS Boynton Beach CRA is acquiring properties in the area to be assembled into larger sites and readied for redeveloped. 40 a F Air { e 4z -_ iN Wl3arRin ku1lier Kin€Jr BIYd -VY MaRtlki L41 killer#S@np.Ns.C31wd -,�„�,m„ 4�PR l5 'IA r• � i� LAND ALE 5 230 W MARTIN LUTHER KING, JR. BLVD. BOYNTON BEACH, FL 41 LAND SALE COMPARISON CHART Land Sale Sale Size Site Price per Sales Date Price Sg.Ft. Zoning Square Foot 1 340 E MLK,Jr. Blvd. 6/15/2017 $50,000 7,750 "R-2" $6.45 Boynton Beach, Florida 2 199 E. MLK Boulevard 06/06/2016 $50,000 7,000 "R-2" $7.14 Boynton Beach, Florida 3 309 NE 11 Ave& 1106 NE 2 St 08/10/2017 $79,000 17,629 "R-2" $4.48 Boynton Beach, Florida 4 515 NW 11 Avenue 12/21/2017 $32,500 5,000 "R 2" $6.50 Boynton Beach, Florida 5 230 W MLK,Jr. Blvd. 12/21/2017 $81,500 11,648 "R 2" $7.00 Boynton Beach, Florida SUBJECT Value Date Value Unit Value 106 NE 3 Avenue 07/02/2018 80 100 11,441 "R-2" S7.00 Boynton Beach, FL 42 SALES COMPARISON APPROACH LAND VALUATION Of the several methods to develop an opinion of land value, the one considered to be the most reliable is the Sales Comparison Approach. In this method, sales of other similar vacant parcels are compared to the site concerned; then adjusted for differences to arrive at land value. For the opinion to be supportable,there must be an adequate number of sales of similar properties for comparison to the subject. The steps of sales comparison in Land Valuation are: 1) Locate and collect information of recent sales of sites most similar to the land being appraised. 2) Verify the sales information with parties to the transactions, including details of financing and any special considerations or non-typical market features. 3) Select relevant units of comparison and develop a comparative analysis for each unit. 4) Compare and adjust the sales to the subject using the significant, market-derived units of comparison. 5) Reconcile all value indications from the comparisons into a single value opinion by this approach. The appraised vacant land contains 11,441 square feet. Current zoning is "R-2", one and two family-residential district, in the City of Boynton Beach. Recommended future land use is mixed use medium intensity. A search was made to find recent sales of sites similar to the subject in the Boynton Beach Boulevard corridor district, with none found. The search was widened to include the Heart of Boynton district, immediately to the north of the subject district. Five recent land sales were located in this similar CRA district. The five land sales in the report are most representative of market value for the land being valued. Details of the transactions are on the sale sheets and chart. The unit of comparison relevant to this valuation is Sale Price per Square Foot of Land. The range of unit prices is from $4.48 per square foot to $7.14 per square foot of land. ELEMENTS OF COMPARISON Elements of comparison are the characteristics of transactions and properties that cause variation in prices paid for real estate. The Appraisal of Real Estate continues by stating that there are basic elements of comparison that may be considered in sales comparison analysis for land valuation. The first group is termed transactional elements being: real property rights conveyed, financing terms, conditions of sale and market conditions. This second group of property elements consists of location,physical characteristics and use. Each element is hereafter addressed. (Continued) 43 LAND VALUATION (Continued) Real Property Rights Conveyed A transaction price is always predicated on the real property interest conveyed. Property interests conveyed can either be fee simple (without tenants) or leased fee (subject to leases). An adjustment for property rights conveyed is based on whether a leased fee interest was sold with leases at market rent, or below or above market rent. In the case of land,there could be a land lease on the site that would create a leased fee interest. The lease amount would require examination to see if the tenant (the leasehold interest) had a value greater than zero. If it is, then the submarket rental rate would give some of the property value to the tenant. The real property right conveyed in the land sales was fee simple interest, the same interest valued for the land in question. No numerical adjustment is warranted for this element of comparison. Financing Terms Financing terms may have a bearing on the price paid for a property. Such terms that may affect price include assuming a mortgage at lower than current interest rates, the seller paying a buydown for the buyer to have a lower interest rate, or the seller providing financing for a transaction at lower than typical institutional rates. In all of these cases, the buyer could have paid higher prices in such transactions to obtain favorable financing. All of the land sales were in cash, which is the most common form of payment for vacant lots in the subject area. No adjustments are made for this element of comparison. Conditions of Sale Condition of sale addresses the motivation of buyers and sellers. Such motivations include a seller accepting a lower than market price for needed cash, a lender selling a previously foreclosed property to comply with regulations imposed on the institution, or a buyer purchasing an adjacent property. Even arm's length transactions may be the result of atypical motivation, such as lack of exposure time to the market,the result of an eminent domain proceeding, or tax consideration. The land sales cited in this report are arm's length transactions. The Boynton Beach Community Redevelopment Agency (BB CRA) purchased Nos. 1 and 5 in negotiated sales at market prices. Grantors and grantees of Land Sales 2, 3 and 4 were private parties. The data show the BB CRA is paying the market rate for land in the vicinity. No adjustments are necessary for conditions of sale. (Continued) 44 LAND VALUATION (Continued) Market Conditions Comparable sales that occurred under different market conditions than those applicable to the subject on the effective date of the value estimate require adjustment for any differences that affect their value. The most common adjustment for market condition is time; however, the passage of time itself is not the cause of the adjustment. Market conditions which change over time are the reason to make the adjustment, such as appreciation or depreciation due to building inventory, changes in tax laws, investor's criteria, building moratoriums, fluctuation in supply and demand, et cetera. It is also possible that there is no change in market condition over time. Four of the sales occurred in 2017, and one in 2016. All of the land sales occurred during market conditions which are similar to those at the time of valuation. Hence, no adjustment is necessary for this element of comparison. Adjustments for transactional elements of comparison were considered; now, the land sales are likened to the subject and to each other for property elements of comparison. Location The location of a property is a key factor in prompting a buyer to purchase it. Location encompasses many aspects such as road frontage, access, traffic count, proximity to other competing properties, proximity to a market that will use the goods and services housed in a property, governmental influences, etcetera. Typically, properties in a neighborhood share some of the same locational characteristics such as age, condition, and style. However, there may be differences such as corner location, view, and zoning, to name a few. Properties of a similar type may be in different locations, yet the locations may share enough similarities to justify comparison. Factors of similarity between locations include average daily traffic counts, zoning and/or land use, and market composition. Locations of the appraised parcel and the land sales are in central Boynton Beach,where the peak of construction took place in the mid-twentieth century. Redevelopment is occurring because old improvements are razed to make way for new residential and commercial projects, most with the financial support or incentives from governmental and social agencies. Land Sale 1 was purchased by the Boynton Beach Community Redevelopment Agency, the primary buyer of properties in the subject market area. Future plan for the subject market area is to assemble sufficient land to be of a size to be attractive to a private developer to purchase for a new residential, commercial or mixed use project. Land Sales 1 and 2 border East MLK, Jr. Boulevard, a main neighborhood thoroughfare with an improved streetscape. Land Sales 3 and 4 are situated along neighborhood streets. No. 5 fronts West MLK, Jr. Boulevard, west of Seacrest Boulevard. Sales 1 and 2 are in a future land use district potentially permitting 20 dwelling units per acre for a mixed use project if they are part of a larger parcel containing at least 0.50 of an acre. The appraised site is in a future land use district potentially permitting 50 dwelling units per acre for a mixed use; however, the minimum size is 0.75 of an acre, requiring assemblage of at least three lots to the east. (Continued) 45 LAND VALUATION (Continued) For Land Sales 3, 4 and 5, future density by land use would be 11 units per acre, or they could be improved with single family dwellings or two family dwellings. The new mixed use districts do not allow single family use. There are positive and negative aspects to both groups of lots. Overall, the possibility of greater future density would put the unit value of the subject site in the upper end of the range of unit prices along with Land Sales 1 and 2. Physical Characteristics Physical characteristics to be considered for adjustments are those that cause a difference in price to be paid by the market. A wide range of such items includes land size, shape, frontage, topography, view, access, functional utility, et cetera. Adjustments for physical characteristics are best derived from the market by paired sales comparison. Through the process of searching for comparable sales, the physical characteristics are of great import. From the universe of possible comparable sales, those that are most similar to the site appraised are presented in the report for analysis and comparison to the subject. The less the number of physical differences,the better. The land sales consist of either one lot, 1.5 lots or two lots. The range of sizes for the sales is from 5,000 to 17,629 square feet. The appraised site is closest in size to Land Sale 5, consisting of one lot and part of another,with a sale unit price of$7.00 per square foot. More weight is placed on No. 5 for physical characteristics at the unit price of$7.00 per square foot. Use For sites to be comparable,they should have similar uses. Future Highest and Best Use for the land concerned along with Land Sales 1 and 2 is to be assembled with adjacent lots to have sufficient size for mixed use projects. More emphasis is placed on the unit prices of these land sales for the final value opinion of the subject. Land Sales 3, 4 and 5 could also be assembled with adjacent lots for lower density residential projects. The elements of comparison of location and use are closely related in this data set. Land Sales 1 and 2 are more similar to the subject for these elements of comparison. 46 FINAL VALUE OPINION Following is a summary of the square foot unit sale prices for the five land sales: Land Sale Sale Price per Square Foot 1 $6.45 2 $7.14 3 $4.48 4 $6.50 5 $7.00 The elements of comparison of location and use place the unit value of the appraised land close to the unit sale prices of Land Sales 1 and 2 at$7.00 per square foot. The quantity of the comparable data is sufficient to have an overview of the market for lots in the mid-section of the city of Boynton Beach. The quality of the data is good in that it provides a sound basis to develop an opinion of value for the land under appraisement. Based on the analysis and conclusions presented within the report, it is our opinion that the Market Value of the Fee Simple Estate of the Subject Property as of July 2, 2018 is: $7.00/sq.ft. x 11,441 square feet= 80 100 EIGHTY THOUSAND ONE HUNDRED DOLLARS 47 CERTIFICATION I certify that, to the best of my knowledge and belief,the statements 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,unbiased professional analyses, opinions, and conclusions. I have no present or prospective interest in the property that is the subject of this report, and I have no bias or personal interest with the parties involved. The appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan. My compensation is not contingent on an action or event resulting from the analyses, opinions, or conclusions in, or the use of, this report. I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. The analyses, opinions and conclusions were also developed and the report prepared in conformity with the Uniform Standards of Professional Appraisal Practice, which is included in the Appraisal Institute's Standards, and Chapter 475,Part 11 F.S. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. The use of this report is (also) subject to the requirements of the State of Florida relating to review by the Florida Real Estate Appraisal Board. I have visited the property that is the subject of this report on June 20,2018. Jesse B. Vance, Jr. and Claudia Vance are responsible for the analyses, conclusions and opinions concerning real estate set forth in this report. No one else has provided significant professional service to the persons signing this report. The Appraisal Institute and the American Society of Appraisers each conduct programs of continuing education for their designated members. As of the date of this report, Jesse B. Vance, Jr. and Claudia Vance have completed the requirements of the continuing education program of the Appraisal Institute. Continuing educational requirements are also completed for the American Society of Appraisers and the State of Florida. July 2, 2018 Jesse B. Vance, Jr., MAI, SRA, ASA Florida State-CertifiedGeneralReal Estate Appraiser No. RZ-85 July_ 2,2018 Claudia Vance,MAI Florida State-Certified General Real Estate Appraiser No.RZ-173 48 CERTIFICATION AND LIMITING CONDITIONS The statements and conclusions contained in this report,subject to the limiting conditions hereafter cited,are correct to the best of the writers'knowledge. I. The undersigned have personally inspected the subject of this report. No pertinent information has been knowingly withheld. 2. Unless specifically included,the subject is analyzed as though free and clear of liens and encumbrances. 3. No responsibility is assumed for legal matters,nor is an opinion of title rendered. Title is assumed to be good and held in Fee Simple,unless excepted. 4. Legal descriptions and property dimensions have been f m-iished by others; no responsibility for their correctness is assumed. Sketches which may be in the report are for illustrative purposes only. 5. Possession of any copy of this report does not cant'with it the right of publication,duplication,or advertising using the writers'names or professional designations or membership organizations. 6. The writers are not required to testify without prior agreement. 7. Neither the employment to make this appraisal nor compensation therefore is contingent on the value reported. 8. Where divisions are made between land,improvements, etc.,the values estimated for each apply only under the cited use or uses. 9. The value applies ONLY as of the date of valuation stated within the report. 10. The writers certify that they have no present,past or contemplated interest in the subject of this report-unless specifically stated. 11. This report is the property of the indicated client. It may not be used by any other party for any purpose not consistent with the written function of this report without the express written consent of the writers AND client. 12. The reported analyses,opinions and conclusions were developed,and this report has been prepared,in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Practice and Conduct of the Appraisal Institute. The work also conforms to the Uniform Standards of Professional Appraisal Practice. 13. Soil or sub-soil contamination may exist from current or prior users, or users outside the property concerned. The appraisers are not qualified to detect such substances. We urge the client to retain an expert in this field if desired. 14. The appraisers have not been provided a Habitat Survey, Endangered Species Survey, or analysis by a qualified environmental specialist indicating the presence of or proximity to environmentally sensitive and/or protected land or species which could affect the use, and possibly, value of the appraised property. The appraisers are not qualified to identify these factors. We recommend that an expert be hired where there may be reasonable cause to expect the presence of any of the cited elements. 15. Jesse B.Vance,Jr. and Claudia Vance are responsible for the analyses,conclusions,and opinions of real estate set forth in this report. No one else provided significant professional assistance to the signers of this report. 16. Prospective value is based on current conditions and trends. The appraisers cannot be held responsible for unforeseeable events which might alter market conditions upon which market value opinion has been developed. 17. The appraisers certify that they have the knowledge and experience required to perform this appraisal assignment. 18. The appraisers reserve the right to amend or change this report at any time additional market information is obtained which would significantly affect the value. Jesse B.Vance,Jr.,MAI,SRA,ASA State-Certified General Real Estate Appraiser No.RZ 85 July 2,2018 � GGl'oallolwm— Claudia Vance,MAI State-Certified General Real Estate Appraiser No.RZ 173 July 2,2018 49 ADDENDA ._ . I Illi 11 IIl II III II lel II!I'I IIl II IIl II IIl II IIl I�IIl I IIIA CF'N 20140019171 OR HK 26564 PG 0898 This document Prepared By and Return to: Aelray Title a Abstract Co. RECORDED (61/17)2014 09:10:09 21a N'.E. 6th Avenue, Suite 105 Palm Beach County, Florida DW/Cx4y Beach, Florida 33483 AIT 19,900.00 3 Doc Stamp 139.30 Sharon R. Bock,CLERK & COMPTROLLER Parcel In Number, Pg 0898; (1pg) arrancy Deed Th' denture, Madethis {d day of January 2014 A.D., Between ine Events, Inc., a Florida Corporation of the Co , of Palm Beach , Statt of Florida ,,grantor, and Cap Partners of Palm Beach, LLC, a Florida limited liability C omp whose add 864 Jeffery Street, Boca Raton, FL 33487 of the County r 'Palm Beach , State of Florida ,grantee. Witnessethrlj ,GRANTOR;for and Li consideradw of tho sum of �.`Y5� -TEN DOLLARS ($10)---------------- ------ DOLLARS, and other Mod and u --le tonsideration to GRANTOR in hand paid by GRANTEE. the receipt whereof is hereby acimowiedged, has granted bargained s to the said GRAHTI;'E and GRANTEE'S heirs,.mmeumn and assigns fore=,the foUo-ing datsibed land,situate, Iyingand being inthe Palm. Beach State of Florida to wit. Lots 11 lad lock 1, of 'SHEPARD-FUNIC ADDITION TO THE TOWN OF BOYNTON, FLO ccording to the Plat thereof, as recorded in Plat Book 2, Page 1 the Public Records of Pala Beach County, Florida. Less and Excparcel of land for road right of way purposes in Section 21, Tp 45 South, Range 43 East, Palm Beach County, Florida, more parJA' arly described as follows: All that portion of Lot 12, Block EPARD-FUNR ADIDITION TO THE TOWN OF BOYNTON, FLORIDA, accordinPlat thereof, as recorded in Plat Book 2, Page 15, of the PRecords of Palm Beach County, Florida, lying West of the proposedE ly right of way way as shown on the Right-of-Way Map of Se=t Boulevard as recorded in Road Book 5, Pages 179 through 183 of d Palm Beach County Records. Subject to current taxes meats and restrictions of record. and the gtantor does hereby My warrent the title to slid lug,and will defend the same ageiesr lawful claims of all persons whomsoever. In Witness Whereof,Ebe grantor has hetcumo set its hand and seal the day and year first above wriIIery , S;ned sled and delivered in our presettee: sunshine Events, Inc., a Florida Corpor tion By. (Sea[) P d amen 6 .t e� 1�} ( Jl a g e d $ P.R.AIMS.1120 S.Federal Highway,SuRc 2.00 Delray Beach,FL 33483 Px d Name: �� JEL 0,49r0_6 Witness (Corporate Seal) STATE OF Florida COUNTY OF Palm Beach 1 a� The fa�egainS instrument was acknowledged before me this day of January , 2014 by Jim Zengage. President of Sunshine Events, Inc., a Florida Corporation an behalf of the corporation who is person*lmown;o me ar who hat Prodocod his driver t a 1 i C I as identif oo. VIRGINIAK4SLETi Pr' d Name: V1126101A 1`fr#-!5Lf-'71_ MYGQMMI55fONAEE19B819 Nob4&y Public Kr EXPIRES. 23,201fi My Commission Expires_ tl'N 14)1�3- aA!f;► 11304 e:, Bonded ThruNoWryPublbUnderwriters rAab'srus�,.tnG.tals ] 63.ss n wo-t 51 Book26564/Page898 Page 1 of 1 eeiii Belie Ileel 111111111111111111111 fill fil CFN 2017025-93699 OR BK 29221_1 1}G 1674 RECORDED 07/14/2017 15:20:04 AMT 10.00 DO_ Stamp 0.70 Pre d bv and return to: F'alm Beach Counts r Florida o .Yudin,Esq.PA Sharon R. Bock,CLERK & COMPTROLLER 5 1•'95 1674 - 1675; (2p95) Ea can Blvd. St L 34994 772V File 17-3000 Space Above This Line For Recording Data] Quit Claim Deed This Claim Deed made this 14th day of July, 2017 between Capital Partners of Palm Beach LLC,a Florida limited lia ' it mpany whose post office address is 864 Jeffery St.,Boca Raton,FL 33487,grantor,and Grav Inc,a Florida corporation post office address is 864 Jeffery St.,Boca Raton,FL 33487, grantee: (Whenever used herein the tontor"and"grantee"include all the parties to this instrument and the heirs,legal representatives,and assigns of individuals, and the successors and assigns orporations,trusts and trustees) Witnesseth,that said grataZ nd inconsideration of the sum TEN AND NO/100 DOLLARS($10.00)and other good and valuable consideration toantor in handpaid by said grantee, the receipt whereof is hereby acknowledged, does hereby remise, release, and qto the said grantee, and grantee's heirs and assigns forever, all the right,title, interest, claim and demand which gran "d to the following described land,situate, lying and being in Palm Beach County, Florida to-wit: i Lots 11 and 12,Block 1,of �RD-FUNK ADDITION TO THE TOWN OF BOYNTON,FLORIDA according to the Plat thereof, orded in Plat Book 2, Page 15, of the Public Records of Palm Beach County,Florida. Less and except:A parcel of land ad right of way purposes in section 21,Township 45 South,Range 43 East,Palm Beach County,Florida,mo rticularly described as follows: All that portion of Lot 12,Block I,of SHEPARD-FUNK ADDITION 0 HE TOWN OF BOYNTON,FLORIDA,according Plat thereof, as recorded in Plat Book 2,Page 15,of blic Records of Palm Beach County,Florida,lying West of the proposed Easterly right of way as sho e Right-of-Way Map of Seacrest Boulevard as recorded in Road Book 5,Pages 179 through 183 o Beach County Records. Subject to current taxes,easements and res ns of record. PCN 08-43-45-21-30-001-0110 PCN 08-43-45-21-30-001-0120 To Have and to Hold, the same together with all and singular the appurtenances thereto belonging or in anywise appertaining,and all the estate,right,title,interest,lien,equity and claim whatsoever of grantors,either in law or equity,for the use,benefit and profit of the said grantee forever. DoubleTime® 52 Book29220/Page1675 CFN#20170253699 Page 2 of 2 In Witness Whereof,grantor has hereunto set grantor's hand and seal the day and year first above written. Annaled and delivered in our presence: CAPITAL PAR PALM BEACH LLC B (Seal) m . 1 Michael Gravallese Its:Managing Member Witn a IV�AQ O State of Florida County of Palm Beach The foregoing instrument knowledged before me thislglhay of July,2017 by Michael ravallese,as Managing Member of CAPITAL PARTNERS LM BEACH LLC, who [_]is personally known or [✓ as produced a driver's license as identification. O "ot�arLyPublic[Notary Seal] Printed Name: My Commission Expires: O ,A1'>r='S ;I ZIELLE CREW MY COMMISSION#GG 075944 EXPIRES:February 22,2021 %Eo.rte O� Bonded Thn,Notary Kak;Underwriters Ouir Claim Deed-Page 2 DOubleTimeo 53 E. R-2 Single and Two-family Residential District. 1. General. The purpose of the R-2 zoning district is to implement the medium density residential (MeDR) future land use map (FLUM)classification of the Comprehensive Plan. The intent of this conventional district is to stabilize and protect existing residential neighborhoods with densities no greater than ten(10)dwelling units per acre, and allowing limited types of non- residential uses. 2. Use(s) Allowed. See "Use Matrix Table 3-28" in Chapter 3,Article IV, Section 3.D. 3. Building and Site Regulations (Table 3-9). Existing and/or planned single-family homes shall conform to the R-1 district requirements; however, for duplex homes, the following lot and building requirements shall be observed: BUILDING/SITE REGULATIONS R-2 District Minimum lot area(per unit): 4,500 s.f.1 Minimum lot frontage: 75 feet Minimum yard setbacks: Front: 25 feet2 Rear: 25 feet3 Interior side: 10 feet2 Corner side: 25 feet 2,3 Minimum living area: 750 s.f. Maximum lot coverage: 40% Maximum Floor Ratio Area (FAR) 0.104 Maximum structure height: 25 feet 1 Single-family dwellings shall be constructed on lots that are no less than six thousand(6,000)square feet. 2 Pursuant to Section 8.B.below,parcels that have frontage on Martin Luther King Jr.Boulevard and are located within the Martin Luther King Boulevard Overlay Zone shall have front,side interior,and side corner setbacks in accordance with the mixed use-low intensity 1 zoning district(see Section 6.11.below). 3 On corner lots,the side setback adjacent to the street shall be not less than one-half(1/2)the front yard setback. However,where orientation of adjacent lots on both street frontages provide typical front yard setbacks,the comer lot shall provide for front yard setbacks along both streets. when two(2)front yard setbacks are provided for on a corner lot,no rear yard setback shall be required,only side yard setbacks shall be imposed. 4 A floor area ratio(FAR)up to 0.10 maybe considered for non-residential uses allowed within the R-2 district (see "Use Matrix"—Chapter 3,Article IV, Section 3),pursuant to the medium density residential land use category of the Comprehensive Plan. 5 Not to exceed two(2)stories. 54 D. R-1 Single-family Residential District. 1. General. The purpose of the R-1 zoning district is to implement the moderate density residential (MoDR) future land use map (FLUM) classification of the Comprehensive Plan. The intent of this conventional district is to encourage single-family dwellings and structures at densities no greater than seven and one-half(7.5) dwelling units per acre, and allowing limited types of non-residential uses. 2. Use(s) Allowed. See "Use Matrix Table 3-28" in Chapter 3, Article IV, Section 3.1). 3. Building and Site Regulations (Table 3-8). The following lot and setback requirements shall be observed: BUILDING/SITE REGULATIONS R-1 District Minimum lot area: a 6,000 s.f. Minimum lot frontage: 60 feet Front: 25 feet Rear: 20 feet Special rear yard setback reduction for single-story building additions:I Abutting: I-95 or railroad tracks: 50% Abutting: Intracoastal: 50% Abutting: Lakes: 50% Abutting: Golf Course: 50% Abutting: Canals wider than 150 ft 50% Abutting: Canals narrower than 150 ft 33% Abutting: Perimeter walls of community that abut other than residential: Abutting: Commercial or Industrial 50% Abutting: Public or private park: 50% Interior side: 7.5 feet Comer side: 25 feet2 Minimum living area: 1,200 s.f. Maximum lot coverage: 50% Maximum structure height: 30 feet 55 ' 3 J O a x ++ d d d d z z z z to w w z z E U •• a Q YC to YC YC o O to O N [— to O y O c� O c v �1. O o O Q. M y 00 O m � U VI O LO kn o II I C LL W c� �O O O cc 0 `n U •� O OO o ffQ .. ori, "' o O N o d �m r-: z to z x cd W ch U oO o 0 O d to O t d Q rx Q z �o 1:T z z U Qo o ttn z oo r- 1:T z O O o O O DD t Q �� i z 01 01 -- z I O O a0 r. aj Cd Q Qz "O c. Q. $.. c� O fy (� U U Cd p �' Q s .. bD O O Q C/1 tom~" O s. _ _._ U 3 .3u � GTr140. z z z z z z z z 00 w w w w z z z z z • � � d d d d d d d d w w w w z z z z z 00 z z z z z z z z N N N N O z z z z z z z z U O / O O O O O M O O M N r- N N Fri N kn to kn kn M kn kn 44 O O N kn O by o 0 0 0 0 0 0 0 N N O O O O O <M O O N N v A4 0 0 0 0 0 0 0 0 M N -•� N N �n �n �n �n �n M �n �n Cd �. .-. OCd O V N 4 Cdto to L" o O .. C7 U U U w r� r� U rx U ---� EJ Sec. 11. Nonconforming Regulations. A. Lots and Parcels. 1. R-1 District, R-IA District, R-2 District, and R-3 District. A detached single-family dwelling may be constructed on any parcel located in an R-1, R-1 A, R-2, or R-3 district, provided that it meets all of the following requirements: a. The parcel contains at least one (1)whole platted lot,platted prior to August 7, 2001; b. The parcel, or assemblage of platted parcels which individually meet the requirements of paragraph a. above, has a frontage of not less than fifty (50) feet, and a lot area of not less than five thousand(5,000) square feet(irregular, other than rectangle-shaped lots with less than five thousand(5,000) square feet of area may be developed if in conformance with all other lot regulations); c. All such parcels, when developed, shall comply with all provisions of the Land Development Regulations and applicable building code regulations, including without limitation sections of the building code regulations regarding the impact of construction and drainage on or to adjacent properties. -- N 2. R-2 District. Within R-2 districts, in subdivisions platted prior to the effective date of these Regulations, where the platted lots have a frontage of at least forty (40) feet but less than fifty (50)feet,the following rules shall apply: a. A detached single-family dwelling may be constructed on any such parcel,provided that the parcel contains at least one (1)whole platted lot. b. A duplex dwelling may be constructed on any parcel,provided that it meets the following requirements: (1) The parcel contains at least two (2)whole platted lots; (2) Property cannot be acquired from adjacent parcels so as to make the subject parcel conforming, without causing the adjacent parcels to become nonconforming or more nonconforming. c. For any parcel, lot, or combination of lots, where the total frontage is equal or greater than one hundred twenty (120)feet, and the total area is greater than twelve thousand(12,000) square feet, said property shall not be developed except in accordance with the minimum frontage and lot area required in the R-2 zoning district. d. Ownership of parcels shall be determined by the property tax rolls on file in the Palm Beach County Property Appraiser's Office as of the effective date of these Regulations. 3. R-I AA District. A detached single-family dwelling may be constructed on any parcel located in an R-1 AA district,without requiring a variance,provided that it meets the following requirements: a. The parcel contains at least one (1)whole platted lot. b. The parcel has a frontage of not less than sixty (60) feet,and a lot area of not less than six thousand, seven hundred fifty (6,750) square feet in area. c. It would not be possible to acquire property from adjacent parcels so as to make the subject parcel conforming,without causing the adjacent parcels or structures thereon to become nonconforming or more nonconforming. For any parcel or lot, or combination of lots under the same ownership, where the total frontage and the total area is equal to or greater than that which is required by the R-IAA district building and site regulations, said property shall not be developed except in accordance with the minimum frontage and lot area required in the particular zoning district. Not more than one (1)parcel or lot, or combination of lots under the same ownership,that is nonconforming but which meets the requirements under b. above may be developed for a single- family house. 58 ARTICLE V. MINIMUM OFF-STREET PARKING REQUIREMENTS Page 1 of 3 Sec. 2. Standards. A. General. 1. Rules and Methodology. a. Parking space requirements shall be computed on the basis of the principal use of a structure or lot, and using gross floor area unless stated otherwise in this article. Gross floor area, for the purposes of this subsection, shall include the floor area occupied by the principal use,plus the floor area occupied by all other enclosed spaces, including but not limited to storage rooms,maintenance and mechanical rooms, offices, lounges, restrooms, lobbies, basements, mezzanines, and hallways. b. Where several principal uses exist in one (1) structure or on one (1) lot,parking space requirements shall be computed separately for each principal use,unless stated otherwise in this article. Where parking spaces are required in this article for each of several principal uses that commonly occur together,this is done for the purpose of clarification only, and shall not limit the application of the requirement contained in this paragraph. c. A use shall be considered a principal use, for the purposes of this subsection, if it could exist separately from all other uses in the same structure or on the same lot, and would by itself generate significant parking demand. d. Where several principal uses exist in one (1)building or part of a building, and the floor area of each principal use cannot be clearly delineated,the parking space requirement for the use requiring the greatest number of parking spaces shall apply. e. Where a use is not listed below, parking space requirements shall be determined by the City Commission after review and recommendation by the Director of Planning and Zoning or designee. f. Where the number of required parking spaces as computed includes a fraction,the number of required parking spaces shall be the computed number rounded to the next highest whole number. g. Except as provided in Section 3.E. below,there shall be provided, at the time of the erection of any structure or establishment of any use, a number of off-street parking spaces in accordance with the following minimum requirements,and subject to the parking requirements of this subsection. Where a structure or use is enlarged or increased in capacity by any means, including a change in building occupancy which requires the provision of additional parking spaces, or a change in use to or which requires additional parking spaces,the minimum number of parking spaces shall be computed by applying these requirements to the entire structure or use. 2. Minimum Number of Required Off-Street Spaces for Non-Residential Uses. No fewer than four(4)parking spaces shall be provided for any non-residential use. 3. Location of Off-Street Parking Areas. a. Residential. Required parking spaces for all dwellings shall be located on the same lot as the dwelling to be served. b. Non-residential. Required parking spaces for all non-residential uses shall be owned by the owner of the building or lot to be served,and shall be located on the same lot, or not more than three hundred(300) feet distance,unless the property is located within those areas defined within the adaptive re-use section of the Code (Chapter 4, Article 5, Section 4). In those areas, required parking spaces may be leased within three hundred(300) feet of the use in which they serve, subject to Board and City Commission approval,and the property shall be posted with signage indicating to patrons the location of the leased parking. B. Table 4-17. Residential and Lodging Uses. Residential and Lodging Uses Standard Number of Required Parking Spaces 59 h4://www.amlegal.com/nxt/gateway.dll/Florida/boynton/partiiilanddevelopmentregulation... ARTICLE V. MINIMUM OFF-STREET PARKING REQUIREMENTS Page 2 of 3 Building area size is based upon gross floor area(in square feet)unless specifically expressed otherwise. Single-family,duplex dwelling,or mobile home: 21 Efficiency or one (1)-bedroom apartment: 1.5 1,2 Within mixed use high district: 1.332 Two (2) or more bedroom apartment: 21,2 Within mixed use high district: 1.661'2 Dormitories: 1 per unit Hotel&motel units containing one (1)-bedroom: 1.25 per unit Within mixed use high district: 1 per unit Hotel& motel suite containing two (2) or more 2 per unit bedrooms: Within mixed use high district: 1 per unit Group home(types 1 through 4): 1 per 3 beds Bed&breakfast: 13 Live/work unit: 1 per 2 units4 1 Residential driveways shall satisfy the parking space requirements for single-family detached dwelling units, duplexes, and multi-family dwelling units containing garages,provided such driveways are of sufficient size to meet the parking space requirements of this subsection. A residential driveway of sufficient size shall be provided prior to the issuance of a certificate of occupancy. For all required parking spaces not located within an enclosed garage, the first parking space shall be the minimum size required for a handicap space, exclusive of public or private rights-of-way, and all other required spaces must be dimensioned in accordance with current city standards. All driveways shall be setback at least two (2) feet from interior side and corner side property lines, and maintained and drained so as to prevent nuisance conditions or a danger to the public and/or adjacent property owners. Any expansion to an existing driveway shall require a zoning permit from the Planning and Zoning Division in accordance with the procedures specified in Chapter 2,Article II, Section S.B.; however, any driveway expansion(or similar impervious surface)that is equal to or greater than eight hundred(800) square feet shall require the approval of a land development permit in accordance with Chapter 2, Article III, Section 3. Any work, such as a driveway,proposed within the swale (right-of-way) shall require a permit from the Engineering Division in accordance with the procedures specified in Chapter 2, Article III, Section 4. 2 Guest parking shall be provided at a rate of 0.15 spaces per unit for residential developments consisting of three (3)or more dwelling units. 3 Required parking shall be calculated on the basis of one (1) space per each employee, manager, or owner and one (1)parking space for each guest unit. Newly created parking may be located only in the rear and side yard. 60 http://www.amlegal.com/nxt/gateway.dll/Florida/boynton/partiiilanddevelopmentregulation... ARTICLE V. MINIMUM OFF-STREET PARKING REQUIREMENTS Page 3 of 3 4 In addition to the required parking for the residential unit,the city requires that one (1) parking space per two (2) live/work units be provided to meet business activity needs. Parking provided to meet this requirement shall be located on the lot,built into or under the structure, or within three hundred (300) feet of the unit in which the use is located. The distance shall be a straight line measurement from a point on the boundary line of the property of the subject unit to the closest boundary line of the property on which the parking is located. Parking provided to accommodate said space, including driveways of adequate depth in front of the unit's garage, shall not serve as meeting required parking for the unit's residential use. 61 http://www.amlegal.com/nxt/gateway.dll/Florida/boynton/partiiilanddevelopmentregulation... 1/8/2015 E. Mixed Use Urban Building and Site Regulations (Table 3-4). MIXED USE,URBAN MU-LI MU-L2 MU-L3 MU-4 MU-H Lot Area,Minimum(acres): Public park N/A N/A N/A N/A N/A All other uses 0.50 0.75 1 1 1 Lot Frontage,Minimum(ft.)' 100 100 150' 200 200 Structure Ht.,Minimum(ft.) 30 30 30 45 45 Maximum Height(ft.)5 45 65 75 100 150/1256 Maximum Density(DUs/Acre)14,16 20 30 40 60 80 Maximum F.A.R.15 1.0 2.0 3.0 4.0 4.0 Build-to-line ft)" All sides abutting a collector or arterial road Factor of Pedestrian Zone Requirement10 Abutting a Local street Oto 010 010 010 010 Interior side Oto 010 010 010 010 Building Setback,Minimum ft)" Rear abutting: Residential single-family 25'/0''' 25' 25' 25' 25' Intracoastal waterway 25' 25' 25' 25' 25' Side abutting Residential single-family 25'/0''' 25' 25' 25' 25' Usable Open Space,Minimum(sq.ft.)L3 N/A N/A N/A 1% 2% 1. Maybe reduced if frontage extends from right-of-way to right-of-way. 2. Minimum of fifty(50) feet,if frontage is on a collector/local collector roadway. 5. Maximum height on any street frontage is forty-five(45)feet. Maximum height on Intracoastal Waterway is thirty-five(35)feet. Heights may require reduction where adjacent to a single-family zoning district where necessary to achieve the compatibility requirements of these regulations. 62 6. Maximum height reduced to one hundred twenty-five(125)feet for the entire project where property abuts any MU-L or residential zoning district not separated by a right-of-way. 7. Plus one(1)additional foot for each foot of height over thirty-five(3 5)feet. 8. Where there is an intervening right-of-way of at least forty(40)feet. 9. Subject to permitting agency approval. 10. Buildings and structures shall be located no farther than zero (0)feet from the property line, except in conjunction with providing required visibility at intersections,driveways;open spaces and public plazas;or when additional setback is necessary to provide for required"Pedestrian Zone(PZ).Building placement is a factor of roadway type and CRA district,which determines the min.width and design of the PZ.Except for the Downtown District,where the minimum PZ width is 18',the minimum PZ in all other districts if 16 ft. See Section 5.C.2.below for additional relief provisions from build-to line requirements. 11. Listed eligible historic structures are not required to meet these standards. 13. Usable open space shall be required for all developments two(2)acres in size or larger which shall be devoted to plazas or other public open space, excluding private recreation. See Chapter 4,Article III, Section 8 for additional regulations. 14. Projects within the transit core shall have minimum densities as follows:MU-1 - eleven(11),MU-2 -twenty (20),MU-3 -thirty(30),MU-4-thirty-five(35) and MU-H - forty(40)dwellings per acre (except that minimum density for the MU-H district applies to projects located within the entire station area). 15. Projects within the transit core shall have a minimum FAR as follows: MU-L3 -one and three-quarters(1.75), MU-4(2.0)and MU-H -two(2.0)(except that minimum FAR for the MU-H district applies to projects to be located within the entire station area). 16. The maximum density for projects within the Downtown Transit-Oriented Development District Overlay Zone (the Station Area)may be increased up to twenty-five percent(25%)over the maximum density allowed in the underlying zoning district. (Ord. 10-025,passed 12-7-10; Am. Ord. 12-016,passed 10-2-12; Am. Ord. 14-009, passed 7-1- 14; Am. Ord. 15-006,passed 3-2-15; Am. Ord. 16-023,passed 1-3-17) 63 SUMMARY OF 2018—2019 USPAP(Uniform Standards of Professional Appraisal Practice) Standard Rule 2: Real Property Appraisal, Reporting In reporting the results of a real property appraisal, an appraiser must communicate each analysis, opinion, and conclusion in a manner that is not misleading. STANDARD 2 addresses the content and level of information required in a report that communicates the results of the real property appraisal. STANDARD 2 does not dictate the form,format, or style of real property appraisal reports. The form, format, and style of the report are functions of the needs of intended users and appraisers. The substantive content of a report determines its compliance. STANDARDS RULE 2-1 Each written or oral real property appraisal report must: (a) clearly and accurately set forth the appraisal in the manner that will not be misleading; (b) contain sufficient information to enable the intended users of the appraisal to understand the report properly; and (c) clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical conditions, and limiting conditions used in the assignment. STANDARDS R ULE 2-2(a) Each written rental property appraisal report must be prepared under one of the following options and prominently state which option is used:Appraisal Report or Restricted Appraisal Report. The content of an Appraisal Report must be consistent with the Intended Use of the appraisal and, at a minimum: (i) state the identity of the client, unless the client has specifically requested otherwise; state the identity of any intended users by name or type; (ii) state the intended use of the appraisal; (iii) summarize information sufficient to idents the real estate involved in the appraisal, including the physical, legal, and economic property characteristics relevant to the assignment; (iv) state the real property interest appraised; (v) state the type and definition of value and cite the source of the definition; (vi) state the effective date of the appraisal and the date of the report; (vii) summarize the scope of work used to develop the appraisal; (viii) summarize the information analyzed, the appraisal methods and techniques employed, and the reasoning that supports the analyses, opinions, and conclusions; exclusion of the sales comparison approach, cost approach or income approach must be explained; (ix) state the use of the real estate existing as of the date of value in the use of the real estate reflected in the appraisal; (x) when an opinion of highest and best use was developed by the appraiser, summarize the support and rationale for that opinion; (xi) clearly and conspicuously: state all extraordinary assumptions and hypothetical conditions: and state that their use might have affected the assignment results; and (xii) include a signed certification in accordance with Standards Rule 2-3. 64 475.611 Florida Statutes: Definitions.-- (1) As used in this part, the term: (a) "Appraisal" or"appraisal services" means the services provided by certified or licensed appraisers or registered trainee appraisers, and includes: 1. "Appraisal assignment" denotes an engagement for which a person is employed or retained to act, or could be perceived by third parties or the public as acting, as an agent or a disinterested third party in rendering an unbiased analysis, opinion, review, or conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified real property. 2. "Analysis assignment" denotes appraisal services that relate to the employer's or client's individual needs or investment objectives and includes specialized marketing, financing, and feasibility studies as well as analyses, opinions, and conclusions given in connection with activities such as real estate brokerage, mortgage banking, real estate counseling, or real estate consulting. 3. "Appraisal review assignment" denotes an engagement for which an appraiser is employed or retained to develop and communicate an opinion about the quality of another appraiser's appraisal, appraisal report, or work. An appraisal review may or may not contain the reviewing appraiser's opinion of value. (b) "Appraisal Foundation" or"foundation" means the Appraisal Foundation established on November 20, 1987, as a not-for-profit corporation under the laws of Illinois. (c) "Appraisal report" means any communication, written or oral, of an appraisal, appraisal review, appraisal consulting service, analysis, opinion, or conclusion relating to the nature, quality, value, or utility of a specified interest in, or aspect of, identified real property, and includes any report communicating an appraisal analysis, opinion, or conclusion of value, regardless of title. However, in order to be recognized in a federally related transaction, an appraisal report must be written. (d) "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's appraisal, appraisal report, or work. (e) "Appraisal subcommittee" means the designees of the heads of the federal financial institutions regulatory agencies established by the Federal Financial Institutions Examination Council Act of 1978 (12 U.S.C. ss. 3301 et seq.), as amended. (f) "Appraiser" means any person who is a registered trainee real estate appraiser, licensed real estate appraiser, or a certified real estate appraiser. An appraiser renders a professional service and is a professional within the meaning of s. 95.11(4)(a). (g) "Board" means the Florida Real Estate Appraisal Board established under this section. (h) "Certified general appraiser" means a person who is certified by the department as qualified to issue appraisal reports for any type of real property. (i) "Certified residential appraiser" means a person who is certified by the department as qualified to issue appraisal reports for residential real property of one to four residential units, without regard to transaction value or complexity, or real property as may be authorized by federal regulation. Q) "Department" means the Department of Business and Professional Regulation. 65 Page 1 of 5 Vance Real Estate Service ANWONNNOMMIL 9 Jesse B. Vance, Jr., MAI, SRA, ASA, MBA Appraiser - Real Estate Analyst - Reviewer - Expert Witness Vance Real Estate Service - 7481 NW 4 Street - Plantation - Florida - 33317 Office: 954.583.2116; Cell: 954.610.2423; Email: vanceval(a,comcast.net Web Page: www.vancerealestateservice.com Vance Real Estate Service is a Veteran-Owned Small Business (VOSB) and Florida Certified SDVBE Minority Business Enterprise specializing in personalized real estate valuation services in Florida for over 35 years. Currently registered in"SAM" (U.S. Government System for Award Management—DUNS 826494957).Designated appraisers perform the appraisal work,no trainees. Jesse B. Vance, Jr., MAI, SRA, ASA, MBA and Claudia Vance, MAI are qualified as expert witnesses for eminent domain, bankruptcies, deficiency judgments, marriage dissolution, and estate valuations. Our firm values most types of real property interests for sale, mortgage loans, litigation and investment reasonably, timely and professionally. As licensed real estate brokers,we perform most other real property functions.We also do"Valuations for Financial Reporting." PROFESSIONAL QUALIFICATIONS A)PROFESSIONAL DESIGNATIONS/DEGREES/LICENSES&CERTIFICATIONS MAI DESIGNATION - APPRAISAL INSTITUTE/Life Member No. 8781 SRA DESIGNATION - APPRAISAL INSTITUTE/Life Member No. 8781 ASA DESIGNATION - AMERICAN SOCIETY OF APPRAISERS(RE-Urban)4003439 MBA DEGREE - REAL ESTATE MANAGEMENT AND DEVELOPMENT STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER 4RZ-85(Florida) FLORIDA STATE LICENSED REAL ESTATE BROKER NO.BK.91050 REGISTERED VETERAN-OWNED SMALL BUSINESS(CCR/Duns 826494957) FLORIDA CERTIFIED SDVBE BUSINESS ENTERPRISE(Minority Business Enterprise-MBE) FLORIDA"D.E.P."APPROVED APPRAISER Currently registered in"SAM"(U.S.Government System for Award Management). B)QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION 1.U.S.Court of Appeals,Eleventh Circuit 2.U.S.District Court,Southern District of South Florida 3.U.S.District Court,New Jersey 4.U.S.Bankruptcy Court,Southern District of Florida 5.U.S.Bankruptcy Court,District of New Jersey 6.U.S.Bankruptcy Court,Western(Pittsburgh)Division of Pennsylvania 7.Florida Circuit Courts:Broward,Dade,Palm Beach,Lee,Collier,Martin,and Okeechobee Counties 8.Appraiser on landmark eminent domain cases:TESSLER,NESS TRAILER PARK,PATEL,SIMPSON v. FILLICHIO,RUBANO,PALM BEACH COUNTY(FL)vs.COVE CLUB INVESTORS,LTD. C)EXPERIENCE Over thirty-five(35)years appraising and analyzing real property interests in South Florida Partial list: RESIDENCES, RESTAURANTS/BARS, APARTMENT BUILDINGS, OFFICE BUILDINGS HOTELS/MOTELS, CHURCHES, CONDOMINIUMS/COOPS, HOSPITALS &NURSING HOMES, VACANT LAND, GOLF COURSES, GOLF CLUBS, GASOLINE SERVICE STATIONS, MARINAS, TRAILER PARKS, SHOPPING CENTERS, BANKS/THRIFT INSTITUTIONS, BOWLING ALLEYS, P.U.D.'S, INDUSTRIAL BUILDINGS, TIME-SHARE DEVELOPMENTS, ROCK PITS, SCHOOLS, AGRICULTURAL PROPERTIES, WATER MANAGEMENT DISTRICT, MARKETABILITY, FEASIBILITY ANALYSES, INVESTMENT ANALYSES, AUTO SALES FACILITIES, LEASE VALUATIONS, TAX & ASSESSMENT APPEALS, CONDEMNATION, EXPERT WITNESS (Member National Forensic Center), BUSINESS ENTERPRISE VALUATIONS (BEV), (VFR) VALUATION FOR FINANCIAL REPORTING, AVIGATION & CLEARANCE EASEMENTS, ESTATES, DIVORCES, PLANNING/LAND USE STUDIES, HIGHEST & BEST USE ANALYSES, DEPRECIATION ANALYSES, COMPONENT APPRAISALS, ENVIRONMENTALLY SENSITIVE LAND, CONTAMINATED PROPERTIES, SUGARCANE & TURFGRASS LAND, DAY CARE CENTERS, SELF-STORAGE FACILITIES, FUNERAL HOMES, ANIMAL HOSPITALS, SUBMERGED LAND, CITY CENTERS,etc. 66 Page 2 of 5 D)PARTIAL LIST OF CLIENTS PRIVATE INDIVIDUALS AND CORPORATIONS, ATTORNEYS, ACCOUNTANTS, TRUST DEPARTMENTS, COMMERCIAL BANKS: Wells Fargo; BankAtlantic; SunTrust; American National Bank; Landmark Bank; City National Bank; BankUnited; Gateway American Bank; State Farm Bank; Englewood Bank & Trust; SAVINGS & LOANS, INSURANCE COMPANIES, REAL ESTATE INVESTMENT TRUSTS, & REAL ESTATE TRANSFER COMPANIES, TITLE INSURANCE COMPANIES; FLORIDA CITIES: FORT LAUDERDALE, PLANTATION, COOPER CITY, TAMARAC, LAUDERHILL, BOCA RATON, DEERFIELD BEACH, OAKLAND PARK, WILTON MANORS, HOLLYWOOD, WEST PALM BEACH, DELRAY BEACH, HALLANDALE, PEMBROKE PINES, COOPER CITY, TOWN OF DAVIE, TOWN OF SOUTHWEST RANCHES, MIRAMAR. FLORIDA COUNTIES: BROWARD, PALM BEACH,COLLIER, OKEECHOBEE;BROWARD COUNTY BOARD OF COUNTY COMMISSIONERS;OKEECHOBEE BOARD OF COUNTY COMMISSIONERS. SCHOOL BOARD OF BROWARD COUNTY, FLORIDA, BROWARD COUNTY HOUSING AUTHORITY,STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION(DOT); STATE OF FLORIDA DIVISION OF GENERAL SERVICES(GSA); N. BROWARD GENERAL HOSPITAL DISTRICT; STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION (Approved Vendor);U_S. TREASURY DEPARTMENT(General Counsel, I.R.S.);U.S.MARSHAL'S SERVICE—U.S.ATTORNEY'S OFFICE CENTRAL DIVISION—U.S.Dept.of Justice; VETERANS ADMINISTRATION E)EDUCATIONAL BACKGROUND-(Partial List) BACHELOR OF ARTS- Earlham College,Richmond,Indiana(1954) MBA(Nova University) - Real Estate Management&Development(National Dean's List 1991) Course 1 (AIREA) - Basic Principles of Appraising Course 2 (AIREA) - Urban Property Valuation(Income) Course 4 (AIREA) -Condemnation Appraising Course 6 (AIREA) - Income Capitalization&Analysis Course 101(SREA) - Introduction to Appraising Course 201(SREA) - Income Property Valuation,Theory Course 202(SREA) - Applied Income Property Valuation Course 301(SREA) - Applications/Appraisal Analysis Symposium (SREA) - Market Analysis,1978,Virginia Symposium (SREA) - Market Analysis,1979,Arizona Symposium (SREA) - Market Analysis,1980,South Carolina Symposium (SREA) - Market Analysis,1981,Tennessee Symposium (SREA) - Market Analysis,1982,New Mexico Symposium (SREA) - Market Analysis,1983,Pennsylvania Symposium (SREA) - Market Analysis,1984,Georgia Symposium (SREA) - Market Analysis,1985,Vancouver,B.C. Symposium (SREA) - Market Analysis,1986,New Jersey Clinic (SREA) -#201 Instructor,1987,U.of Illinois Clinic (SREA) -#201 Instructor,1988,Illinois Seminar (SREA) - Professional Practice,1988,Florida Symposium(SREA) - Market Analysis, 1988,California Symposium(SREA) - Market Analysis, 1989,Minnesota MBA Graduate School Courses: 1990—1991 Successfully completed the following graduate school courses: - "Regulation of Real Estate Development" - "Real Properties Management" - "Legal Issues In Real Estate" - "Market Analysis and Site Selection" - "Organizational Behavior and Management' - "Human Resource Management" - "Real Estate Economics" -"R.E.Finance:Instruments,Institutions&Investment Analysis" - "Urban Infrastructure&Environmental Analysis" - "Real Estate Accounting" - "Marketing Management for Real Estate" - "Commercial Real Estate Lending" - "Construction Technology and the Building Development Process" SEMINAR (AI) - Cost Approach(1992/Boston) SEMINAR (AI) - Rates&Ratios(1992/Boston) SEMINAR (AI) - International Appraising(1992/Boston) SEMINAR (AI) - Litigation Valuation/Mock Trial(1993) SEMINAR (AI) - ADA ACT(1993/Reno) SEMINAR (AI) - Hotel Valuation(1993) SEMINAR (AI) - Income Capitalization,Methods(1993) SEMINAR (AI) - Powerlines/Electromagnetic Radiation(1994) SEMINAR (AI) - Verifying Market Data(1994) SEMINAR (AI) - Market Studies for Appraisals(1994) SEMINAR (AI) - Florida Appraiser Core Law(USPAP/1994) 67 Page 3 of 5 E)EDUCATIONAL BACKGROUND-(Partial List,continued) SEMINAR (AI) - Limited Appraisals&Reports(USPAP/1994) SEMINAR (AI) - Public Safety&Property Values(1995) SEMINAR (AI) - Outparcel Valuation(1995) SEMINAR (AI) - Computer Technology Video Conference(1995) SEMINAR (AI) - The Internet&the Appraiser(1996) SEMINAR (AI) - Florida Commercial Construction(1996) SEMINAR (AI) - Real Property Rights in Florida(1996) COURSE (AI) - USPAP&Florida Real Estate Core Law(1996) SEMINAR (AI) - Valuation of Trees(199 7) 3-DAY COURSE - Environmental Permitting/Mitigation/Mitigation Banking/Contamination Risk Management- Liability/Wetlands/Hazardous Wastes/LenderLiability(1997/Marco Beach.FL) SEMINAR(AI) -Valuation of Transferable Development Rights[TDR's](1997) COURSE (AI) - Standards of Professional Practice,Part C,15 hour Course#430(1997) SEMINAR(AI) - Non-Conforming Uses(1998) SEMINAR(AI) - The Impact of Contamination on Real Estate Value(1998) COURSE (AI) - USPAP&Florida Real Estate Core Law(1998) SEMINAR(AI) - Econometrics/Statistical Valuation Methods(1999) COURSE (AI) - 14 Hour(2-day)Advanced Spreadsheet Modeling for Valuation Applications SEMINAR(AI) - Globalization of Real Estate/What U.S.Appraisers Need to Know(1999) SEMINAR(AI) - The Role of the Appraiser in Alternative Dispute Resolution(Mediation/Arbitration)(1999) SEMINAR(AI) - Technology Forum Part II/Intermediate(1999) SEMINAR(AI) - Client Satisfaction/Retention/Development(1999) SEMINAR(AI) - Attacking and Defending an Appraisal(1999) SEMINAR(AI) - Federal Appraisal Requirements("Yellow Book')(2000) SEMINAR(AI) - Regression Analysis in Appraisal Practice:Concepts&Applications(2000) SEMINAR(AI) -Analyzing Income Producing Properties(2000) SEMINAR(ATIF) - 1031 Tax Deferred Exchanges(2000) COURSE (AI) -USPAP&Florida Real Estate Core Law(2000) SEMINAR(AI) - Mediation&Alternate Dispute Resolution Seminar(2001) SEMINAR(AI) - State of the Appraisal Profession(2001) 2-Day SEMINAR - Eminent Domain,by CLE International,Tampa,Florida(200 1) SEMINAR(AI) -Ad Valorem Assessment Process in Florida(2002) SEMINAR(AI) -Role of Real Estate Appraisers in Bankruptcy Proceedings(2002) SEMINAR(AI) -Appraisers&the Gramm-Leach-Bliley Federal Privacy Act(2002) SEMINAR(AI) -How to Appraise the Ugly House(2002) COURSE(AI) -2-Day Course#430,Standards of Professional Practice,Part C(2002) SEMINAR(AI) -Market Trends for 2003(2003) SEMINAR(AI) -Update on Code of Professional Ethics(2003) PANEL(AI) -Moderator"Industry,Consumer&Congressional Views on Predatory Lending"D.C.(2003) SEMINAR(AI) -Florida State Law for Real Estate Appraisers(2003) SEMINAR(AI) -Appraisal Agreements(2003) SEMINAR(AI) -Analyzing Distressed Real Estate(2004) SEMINAR(AI) -Valuation for Financial Reporting Purposes(2004) SEMINAR(AI) -7 Hour National USPAP Update Course#1400(2004) SEMINAR(AI) -Inverse Condemnation(2004) SEMINAR(AI) -Appraiser Independence in the Loan Process(2004) SUMMIT (AI) -Moderator at 2-day Appraisal Summit in Washington,D.C.(12/2004) SEMINAR(AI) -Loss Prevention Program for Real Estate Appraisers(2005) SEMINAR(AI) -Valuation of Wetlands(7/2005) SEMINAR(AI) -Tri-County Residential Symposium(8/2005) SEMINAR(AI) -"Cool Tools"Internet Resources and Use for Valuation(2/2006) SEMINAR(AI) -FREAB 7-Hour National USPAP Update(5/2006) SEMINAR(AI) -FREAB 3-Hour Florida State Law for Real Estate Appraisers(5/2006) SEMINAR(AI) -USPAP Scope of Work&New Requirements(8/2006) SEMINAR(AI) -USPAP Reappraising,Readdressing&Reassigning Appraisal Reports(2/2007) SEMINAR(AI) -Al Summary Appraisal Report/Residential(4/07) COURSE(Fla..) -14-Hour Continuing Education(including 3-Hour Florida Core Law)(7/2007) SEMINAR(AI) -Real Estate Fraud:Appraisers Beware!(8/2007) SEMINAR(AI) - Florida Law for Real Estate Appraisers(11/2007) COURSE(AI) -Business Practices and Ethics—8 hours(12/2007) SEMINAR(AI) -Supervisor Trainee Roles and Rules(2/2008) SEMINAR(AI) -7 Hour National USPAP(4/2008) SEMINAR(AI) -USPAP Hypothetical Conditions&Extraordinary Assumptions(5/2008) SEMINAR(AI) -Litigation Skills for the Appraiser—7-Hour Seminar(9/2008) SEMINAR(AI) -Public Sector Appraising(2/2009) 68 Page 4 of 5 E)EDUCATIONAL BACKGROUND-(Partial List,continued) WEBINAR(AI) -Develop an Effective Marketing Plan(3/2009) SEMINAR(AI) -Inspecting the Residential"Green House"(4/2009) SEMINAR(AI) -Property Tax Assessment(5/2010) SEMINAR(AI) -Supervisor Trainee Roles and Rules(7/2010) SEMINAR(AI) -Florida Law for Real Estate Appraisers(7/2010) SEMINAR(AI) -7-Hour Introduction to Valuation for Financial Reporting—Chicago(5/2009) SEMINAR(AI) -Government Regulations&Their Effect on R.E.Appraising(8/2009) SEMINAR(AI) -R.E.Market:How We Got Here,Where We Are,Where We're Going(10/2009) SEMINAR(AI) -7 Hour National USPAP Update Course(10/1/2010) COURSE (AI) -7 Hour Introduction to Conservation Easement Valuation(12/10/2010) SEMINAR(AI) -The Real Estate Market(2/18/2011) COURSE (AI) - 16 Hours Uniform Appraisal Standards for Federal Land Acquisitions("Yellow Boob')(2/25-26/2011) WEBINAR(AI) -Real Estate Industry Perspectives on Lease Accounting(4/7/2011) COURSE (AI) - 15 Hour Appraisal Curriculum Overview(5/19-20/2011) WEBINAR(AI) -2-hour Investment Property Accounting Standards(6/8/2011) SEMINAR(AI) -3 Hour Spotlight on USPAP—Agreement for Services(7/15/2011) COURSE (AI) - 14 Hours(2-day)Advanced Excel Spreadsheet Modeling for Valuation Applications(9/22&9/23/2011) SEMINAR(AI) - Trial Components(11/4/11) SEMINAR(AI) - Lessons from the Old Economy Working in the New(1/20/2012) 7-Hour USPAP -National USPAP Update(3/9/2012) 3-Hour Fla..Law -State Law Update(3/9/2012) SEMINAR(AI) - Appraisal Review for General Appraisers(4/12/2012) SEMINAR(AI) - Land Valuation(4/20/2012) SEMINAR(AI) - The Valuation of Warehouses(6/22/2012) SEMINAR(AI) - Town Hall Meeting:2012 Appraisal Institute Forum(7/12/2012) SEMINAR(AI) - IRS Valuation(7/19/2012) SEMINAR(AI) - 7 Hour Business Practices and Ethics Course(12/7/2012) SEMINAR(AI) - Real Estate Forecast 2013(1/25/2013) COURSE(AI) - 7 Hour Advanced Marketability Studies(5/6/2013) SEMINAR(AI) - Developing a Supportable Workfile(11/15/2013) SEMINAR(AI) - Florida Appraisal Law Course(2/7/2014) SEMINAR(AI) - Liability Issues for Appraisers performing Litigation&Non-Lending Work(2/24/2014) COURSE(AI) - 7 Hour National USPAP Update Course(4/25/2014) SEMINAR(AI) - Economic Conditions(5/16/2014) SEMINAR(AI) - Fundamentals of Going Concerns(7/16/2014) SEMINAR(AI) - Litigation Assignments for Residential Appraisers(7/24/2014) SEMINAR(AI) - Economic Engines of Miami-Dade County,Florida(1/23/2015) SEMINAR(AI) - Economic Engines Driving Broward County,Florida(5/15/2015) 3-Hour Fla.Law - Florida Real Estate Broker 14-hour Continuing Education Course (incl.3 hour core law)with exam(9/2015) SEMINAR(AI) -Drone Technology&its Effect on Real Estate Valuations(11/2015) SEMINAR(AI) -Loss Prevention for Real Estate Appraisers(1/22/2016) COURSE(AI) -7-Hour National USPAP Update Course(4/22/2016) SEMINAR(AI) -3-Hour Florida Appraisal Law(4/22/2016) SEMINAR(AI) -4-Hour Appraisals in the Banking Environment(5/6/2016) SEMINAR(AI) -Appraising the Tough One:Mixed Use Properties(8/19/2016) SEMINAR(AI) -4-Hour Business Practices&Ethics(12/02/2016)5-Year Requirement WEBINAR(AI) -2-Hour Yellow Book Changes—Overview for Appraisers(1/11/2017) SEMINAR(AI) -3-Hours Economic Engines Driving Broward County in 2017(1/27/2017) COURSE(AI) -7-Hours:Introduction to Green Buildings Principles&Concepts(2/24/2017) COURSE(AI) -4 Hours:Another View of the Tough One:Sales Comparison Approach for Mixed-Use Properties(5/19/2017) SEMINAR(AI) -4 Hours:Appraising for Federal Office of Valuation Services&Yellow Book Review(8/18/2017) COURSE(BR) -14 Hours Real Estate Continuing Education,including 3-Hour Florida Real Estate Core Law(9/13/2017) COURSE(AI) - 4-Hours:2-4 Unit Small Residential Income Property Appraisals(11/3/2017) COURSE(AI) - 15 Hours"Yellow Book"Unifonn Appraisal Standards for Federal Land Acquisitions—Passed Exam(11/10/2017) SEMINAR(AI) - 3 Hours"Hot Topics and Myths in Appraiser Liability"(1/26/2018) COURSE(AI) - 7-Hour National USPAP Update Course(2/9/2018) SEMINAR(AI) - 3 hours Florida Appraisal Law(2/9/2018) 69 Page 5 of 5 F)APPRAISAL TEACHING EXPERIENCE Licensed by the Florida Department of Education to Teach(Certificate No.275236). Authored and taught Residential and Commercial Real Estate Appraisal Courses for Broward County Adult Education Program. Taught Course 101 - Society of Real Estate Appraisers. Taught Course 201 - Society of Real Estate Appraisers. Taught Appraisal Seminars-Board of Realtors,ASA, SREA,and Al (Appraisal Institute). Adjunct Professor, University of Florida Division of Continuing Education: (taught Course 2, "Real Estate Principles and Practices" to prospective Florida Real Estate Brokers). G)PROFESSIONAL OFFICES HELD/AWARDS NATIONAL B.O.D.MEMBER - BOARD OF DIRECTORS of APPRAISAL INSTITUTE (2006-2008) AWARD - Appraisal Institute`NATIONAL PRESIDENTS AWARD"2008 AWARD - Appraisal Institute"LIFETIME ACHIEVEMENT AWARD"2011 For"high ethical standards,contributions to the Appraisal Institute,Community and Appraisal Profession for at least 20 years." CHAIR - REGION X -All of Florida -Appraisal Institute(2008) VICE-CHAIR - REGION X -All of Florida -Appraisal Institute(2007) THIRD DIRECTOR - REGION X -All of Florida -Appraisal Institute(2006) FINANCE OFFICER - REGION X—All of Florida—Appraisal Institute(2006) PRESIDENT - BROWARD COUNTY,SOCIETY OF REAL ESTATE APPRAISERS PRESIDENT - BROWARD COUNTY,AMERICAN SOCIETY OF APPRAISERS CHAIR - FLA.STATE GOVERNMENT RELATIONS SUBCOMMITTEE OF Al CHAIR - FLA.STATE LEGISLATION&REGULATION SUBCOMMITTEE OF Al G)PROFESSIONAL OFFICES HELD/AWARDS CHAIR - FLORIDA REALTORS COMMITTEE ON COMMITTEE REFORMS CHAIR - EDUCATION COMMITTEE,FT.LAUDERDALE CHAPTER Al CHAIR - CANDIDATES GUIDANCE COMMITTEE,FT.LAUDERDALE CHAPTER Al CHAIR - NATIONAL Valuation for Financial Reporting PROJECT TEAM OF Al VICE CHAIR&MEMBER - NATIONAL GOVERNMENT RELATIONS COMMITTEE OF Al(15 Years) MEMBER - NATIONAL LONG RANGE PLANNING COMMITTEE OF Al MEMBER - NATIONAL PUBLIC AFFAIRS COMMITTEE OF Al DIRECTOR - REGION X(Florida)Appraisal Institute MEMBER - REGION X(FLORIDA)ETHICS AND COUNSELING PANEL DIRECTOR - BROWARD COUNTY,FLORIDA SOCIETY OF REAL ESTATE APPRAISERS DIRECTOR - SOUTH FLORIDA CHAPTER AMERICAN SOCIETY OF APPRAISERS MEMBER - NATIONAL EXPERIENCE REVIEW PANEL MEMBER OF Al SPECIAL MASTER - BROWARD COUNTY BOARD OF TAX ADJUSTMENT COMMISSIONER - 17TH JUDICIAL CIRCUIT COURT,Broward County,FL MEMBER - 2013 APPRAISAL INSTITUTE NATIONAL BUSVAL PROJECT TEAM H)PROFESSIONAL PUBLICATIONS&PRESENTATIONS Wrote and taught a basic Residential Appraisal Course for the Broward County Adult Education Div.of the Dept.of Education; Wrote and taught an Income Appraisal Course for the Broward County Adult Education Division of the Department of Education; Co-authored and taught an appraisal course on Mortgage-Equity Capitalization for the American Society of Appraisers. Authored and taught a Florida State and Appraisal Institute 3-hour accredited course in"The Legislation,Regulation and Appraisal of Real Property Rights in Florida September 7,1996. Presentation on"Gramm-Leach-Bliley"Federal Privacy Act of 1999 for South Florida Chapter of American Society of Appraisers on October 24,2001. Presented 3-hour Florida CEU-credit seminar on"Appraisers and the Gramm-Leach-Bliley Act"before the South Florida Chapter of the Appraisal Institute on July 27,2002. Presenter at 6.5 Hour CLE-credit Attorney Seminar on Florida Eminent Domain,"Valuation and Damage Issues" February 2,2006, Fort Lauderdale,Florida P CIVIC INVOLVEMENT MEMBER OF ROTARY INTERNATIONAL/PAUL HARRIS FELLOW MEMBER OF THE GREATER FORT LAUDERDALE OPERA GUILD MEMBER FLORIDA PHILHARMONIC BROWARD TRUSTEES MEMBER OF THE BROWARD COUNTY LIBRARY SUPPORT GROUP("BYBLOS") MEMBER CIRCLE OF FRIENDS—NOVA SOUTHEASTERN LIBRARY FOUNDATION MEMBER NOVA SOUTHEASTERN UNIVERSITY ALUMNI ASSOCIATION MEMBER OF THE FORT LAUDERDALE HISTORICAL SOCIETY MEMBER OF THE BROWARD COUNTY MUSEUM OF THE ARTS MEMBER OF THE FORT LAUDERDALE/BROWARD COUNTY CHAMBER OF COMMERCE MEMBER OF THE BETTER BUSINESS BUREAU OF SOUTH FLORIDA LIFETIME HONORARY MEMBER FLORIDA SHERIFF'S ASSOCIATION MEMBER NATIONAL&FT.LAUDERDALE COUNCILS U.S.NAVY LEAGUE U.S.ARMY VETERAN WWII(RA 1721268 1)-HONORABLE DISCHARGE 1949 70 I of Vance Beal Estate Service ir 01% Claudia Vance, MAI Appraiser - Real Estate Analyst Reviewer Vance Real Estate Service - 7481 NW 4 Street Plantation - FL - 33317 Office: 954.583.2116 Cell: 954.647.7148 Email: vanceval ,att.net Web Site:www.vancerealestateservice.com Vance Real Estate Service is a Veteran-Owned Small Business (VOSB) and Florida Certified SDVBE Minority Business Enterprise specializing in personalized real estate valuation services in Florida for over 35 years. Designated appraisers perform the appraisal work,no trainees. Our appraisals are used for financial/mortgage loan purposes from large mixed use complexes to small owner-occupied properties. We have the qualifications for appraisals submitted to SBA. Jesse B.Vance,Jr.,MAI, SRA,ASA and Claudia Vance,MAI are qualified as expert witnesses for eminent domain,deficiency judgments,marriage dissolution,and estates. Our firm values most types of real property interests,timely,professionally,and at competitive costs. PROFESSIONAL QUALIFICATIONS A)PROFESSIONAL DESIGNATIONS/LICENSES MAI Designation- APPRAISAL INSTITUTE No.9451 State-Certified General Real Estate Appraiser No.RZ-173 Florida State Licensed Real Estate Broker No.BK 0161305 VOSB Veteran-Owned Small Business(CCR/Duns 826494957) B)WORK HISTORY 1983-Current Vice President-Vance Real Estate Service 1981-1983 President-The Appraisal Company,Fort Lauderdale,Florida 1979-1981 Staff Appraiser -Real Property Analysts,Inc.,Fort Lauderdale,Florida 1976-1980 REALTOR-Associate-The Atwood Corporation,Fort Lauderdale,Florida 1973-1975 Teacher of Secondary Language Arts in the Jefferson Parish School in Louisiana C)QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION U.S.Bankruptcy Court,Southern District of Florida Florida Circuit Court:Broward County D)APPRAISER SPECIAL MAGISTRATE FOR THE BROWARD CO VALUE ADJUSTMENT BOARD 2002-2010 E)EXPERIENCE:35+years appraising and analyzing real property interests in South Florida Partial list of real property types valued: High value residences,Condominiums/Co-operatives,Office,Industrial,Multi-family,Restaurants/bars,Auto dealerships,City Centers, Hotels/motels, Houses of worship, Schools, Child care centers, Self-storage, Funeral home, Animal Hospital, Mixed use,Nursing homes, Gas sales stations,Marinas,Mobile home parks, Shopping centers, Country clubs/golf courses, Financial institutions,Bowling centers,Vacant land, Agricultural properties,Environmentally sensitive land Types of Reports: Market Value, Eminent Domain, Marketability, Feasibility, Highest and Best Use, Investment Analyses, Partial Interests, Easement Valuations,Estate planning,Marriage dissolution,Land use studies,Damage/Contamination studies 71 2 of F)PARTIAL LIST OF CLIENTS— PRIVATE: Individuals,Corporations,Attorneys,Accountants,Habitat for Humanity,Seminole Tribe of Florida COMMERCIAL BANKS: Wells Fargo; BankAtlantic; SunTrust Citigroup; Space Coast Credit Union; State Farm Bank; Florida Shores Bank;American National Bank;Landmark Bank;City National Bank;Englewood Bank&Trust SAVINGS & LOANS, INSURANCE COMPANIES, REAL ESTATE INVESTMENT TRUSTS, & REAL ESTATE TRANSFER COMPANIES,TITLE INSURANCE COMPANIES FLORIDA CITIES: Fort Lauderdale, Plantation, Cooper City, Deerfield Beach, Tamarac, Oakland Park, Wilton Manors, Davie,Hollywood,Pembroke Pines,Hallandale Beach,Lauderhill, Southwest Ranches,Miramar,Boca Raton,Boynton Beach, West Palm Beach,Delray Beach FLORIDA COUNTIES and AGENCIES: Broward,Palm Beach,Broward County Board of County Commissioners,School Board of Broward County,Broward County Housing Authority STATE OF FLORIDA Department of Transportation(FDOT),Department of Environmental Protection U.S.Department of Veterans Affairs,U.S.Department of Treasury(IRS),U.S Marshall's Service,U.S.Attorney G)EDUCATIONAL BACKGROUND Academic: Bachelor of Arts Degree—University of New Orleans,New Orleans,LA—Major: English Professional: Course 1-A (AIREA)- Introduction to Appraising Real Property,1977,Passed Exam Course 1-B (AIREA)- Capitalization Theory and Techniques,1978,Passed Exam Course VIII(AIREA)- Residential Appraising,1978,Passed Exam Course SPP (AI) - Standards of Professional Practice,1992,Passed Exam Course 2-1 (AIREA)- Case Studies,1987,Passed Exam Course 2-2 (AIREA)- Report Writing,1987,Passed Exam Course R-2 (SREA) - Report Writing,1978,Passed Exam Course 202 (SREA) - Applied Income Property Valuation,1983,Passed Exam Course 301 (SREA) - Applications/Appraisal Analysis, 1984,No Exam Course SPP (SREA) - Standards of Professional Practice,1989,No Exam Symposium (SREA)- Market Analysis,1983,Philadelphia Symposium (SREA)- Market Analysis,1984,Atlanta Symposium (SREA)- Market Analysis,1985,Vancouver Symposium (SREA)- Market Analysis,1986,Atlantic City Symposium (SREA)- Market Analysis,1988,Los Angeles SEMINAR (AI) - Cost Approach(1992/Boston) SEMINAR (AI) - Rates&Ratios(1992/Boston) SEMINAR (AI) - International Appraising(1992/Boston) SEMINAR (AI) - Litigation Valuation/Mock Trial(1993) SEMINAR (AI) - ADA ACT(1993/Reno) SEMINAR (AI) - Hotel Valuation(1993) SEMINAR (AI) - Income Capitalization,Methods(1993) SEMINAR (AI) - Powerlines/Electromagnetic Radiation(1994) SEMINAR (AI) - Verifying Market Data(1994) SEMINAR (AI) - Market Studies for Appraisals(1994) SEMINAR (AI) - Florida Appraiser Core Law(USPAP/1994) SEMINAR (AI) - Limited Appraisals&Reports(USPAP/1994) SEMINAR (AI) - Public Safety&Property Values(1995) SEMINAR (AI) - Outparcel Valuation(1995) SEMINAR (AI) - Computer Technology Video Conference(1995) SEMINAR (AI) - The Interact&the Appraiser(1996) SEMINAR (AI) - Florida Commercial Construction(1996) SEMINAR (AI) - 1996 Data Exchange(1996) SEMINAR (AI) - Real Property Rights in Florida(1996) COURSE (AI) - USPAP&Florida Real Estate Core Law(1996) SEMINAR (AI) - Valuation of Trees(1997) 72 3 of4 G)EDUCATIONAL BACKGROUND(Continued) SEMINAR(AI) - Valuation of Transferable Development Rights[TDR's] (1997) COURSE (AI) - Standards of Professional Practice,Part C,15 hour Course#430(1997) SEMINAR(AI) - Non-Conforming Uses(1998) SEMINAR(AI) - The Impact of Contamination on Real Estate Value(1998) COURSE (AI) - USPAP&Florida Real Estate Core Law(1998) SEMINAR(AI) - Econometrics/Statistical Valuation Methods(1999) SEMINAR(AI) - Globalization of Real Estate/RThat U.S.Appraisers Need to Know(1999) SEMINAR(AI) - The Role of the Appraiser in Alternative Dispute Resolution(Mediation/Arbitration)(1999) SEMINAR(AI) - Technology Forum Part II/Intermediate(1999) SEMINAR(AI) - Client Satisfaction/Retention/Development(1999) SEMINAR(AI) - Attacking and Defending an Appraisal(1999) SEMINAR(AI) - Federal Appraisal Requirements(2000) SEMINAR(AI) - Regression Analysis in Appraisal Practice:Concepts&Applications(2000) SEMINAR(AI) -Analyzing Income Producing Properties(2000) COURSE (AI) -USPAP&Florida Real Estate Core Law(2000) SEMINAR(AI) - Mediation&Alternate Dispute Resolution Seminar(2001) SEMINAR(AI) - State of the Appraisal Profession(2001) SEMINAR(AI) -Ad Valorem Assessment Process in Florida(2002) SEMINAR(AI) -Role of Real Estate Appraisers in Bankruptcy Proceedings(2002) SEMINAR(AI) -Appraisers&the Gramm-Leach-Bliley Federal Privacy Act(2002) SEMINAR(AI) -How to Appraise the Ugly House(2002) COURSE(AI) -2-Day Course#430,Standards of Professional Practice,Part C(2002) SEMINAR(AI) -Market Trends for 2003(2003) SEMINAR(AI) -Update on Code of Professional Ethics(2003) PANEL(AI) -Moderator"Industry,Consumer&Congressional Views on Predatory Lending"D.C.(2003) SEMINAR(AI) -Florida State Law for Real Estate Appraisers(2003) SEMINAR(AI) -Appraisal Agreements(2003) SEMINAR(AI) -Analyzing Distressed Real Estate(2004) SEMINAR(AI) - Valuation for Financial Reporting Purposes(2004) SEMINAR(AI) - National USPAP Course(2004) SEMINAR(AI) - Inverse Condemnation(2004) SEMINAR(AI) - Loss Prevention(2005) SEMINAR(AI) - Single Family Fraud Awareness(2005) SEMINAR(AI) - Guide to the new URAR form(2005) SEMINAR(AI) - Technologies for Real Estate Appraisers(2006) SEMINAR(AI) - The Appraiser's Role in New Urbanism(2006) SEMINAR(AI) - National USPAP Update(2006) SEMINAR(AI) - Florida State Law for Real Estate Appraisers(2006) SEMINAR(AI) - Scope of Work and the New USPAP Requirements(2006) SEMINAR(AI) - Energy Star and the Appraisal Process(2006) SEMINAR(AI) - Reappraising,Readdressing,and Reassigning Appraisals(2007) SEMINAR(AI) - Real Estate Fraud(2007) SEMINAR(AI) - Forecasting Revenue(2007) SEMINAR(AI) - Florida Law for Real Estate Appraisers(2007) COURSE(AI) -Business Practice and Ethics#420(2007) SEMINAR(AI) -Supervisor—Trainee Roles and Rules(2008) COURSE(AI) -7 Hour National USPAP Update#400(2008) SEMINAR(AI) -Hypothetical Conditions and Assumptions(2008) SEMINAR(AI) -Real Estate Economy(2008) SEMINAR(AI) -Public Sector Appraising(2009) SEMINAR(AI) -Inspecting the residential"green"house(2009) WEBINAR(AI) -Value for Financial Reporting(2009) SEMINAR(AI) -The Real Estate Market in 2009 SEMINAR(AI) -New Govemment Regulations(2009) SEMINAR(AI) -Property Tax Assessment (2010) SEMINAR(AI) -7 Hour National USPAP (2010) SEMINAR(AI) -Florida Law for Real Estate Appraisers(2010) SEMINAR(AI) -Supervisor/Trainee Roles and Rules(2010) SEMINAR(AI) -The Real Estate Market(2011) SEMINAR(AI) -Uniform Appraisal Standards for Federal Land Acquisitions-"Yellow Boob'(2011) COURSE(AI) -15 Hour Appraisal Curriculum Overview(2011) SEMINAR(AI) -Spotlight on USPAP—Agreement for Services(2011) SEMINAR(AI) -Trial Components(2011) 73 4 of G)EDUCATIONAL BACKGROUND(Continued) SEMINAR(Al) -Lessons from the Old Economy Working in the New(2012) SEMINAR(Al) -Appraisal Review for General Appraisals(2012) COURSE(Al) -National USPAP Update(2012) SEMINAR(Al) -Florida Law(2012) SEMINAR(Al) -Land Valuation(2012) SEMINAR(Al) -Valuation of Warehouses(2012) SEMINAR(Al) -IRS Valuation(2012) SEMINAR(Al) -Business Practices and Ethics(2012) SEMINAR(Al) -Real Estate Forecast(2013) SEMINAR(Al) -Advanced Marketability Studies(2013) SEMINAR(Al) -Developing a Supportable Workfile(2013) SEMINAR(Al) -Florida Appraisal Law(2014) SEMINAR(Al) -Liability Issues for Appraisers performing Litigation&Non-Lending Work(2014) COURSE(Al) -7 Hour National USPAP Update Course(2014) SEMINAR(Al) -Florida Law(2014) SEMINAR(Al) -New Real Estate Economy(2014) SEMINAR(Al) -Economic Engines of Miami-Date County(2015) SEMINAR(Al) -Economic Engines of Broward County(2015) SEMINAR(Al) -Tightening the Appraisal(2015) SEMINAR(Al) -Evaluating Commercial Construction(2015) SEMINAR(Al) -Drone Technology(2015) SEMINAR(Al) -Loss Prevention for Appraisers(2016) COURSE(Al) -7 Hour National USPAP Update(2016) SEMINAR(Al) -Florida Law(2016) SEMINAR(Al) -Redefining the Appraisal&Its Role in an Evolving Banking Environment(2016) SEMINAR(Al) -The Tough One,Mixed use properties(2016) SEMINAR(Al) -Business Practices&Ethics(2016) SEMINAR(Al) -Economic Engines Driving Broward County(2017) SEMINAR(Al) -Introduction to Green Buildings&passed exam(2017) SEMINAR(Al) -Another View of the Tough Ones(2017) SEMINAR(Al) -Appraising for the Office of Valuation Services,Department of the Interior(2017) SEMINAR(Al) -Case Studies in Appraising Green Residential Buildings&passed exam(2017) SEMINAR(Al) -Uniform Appraisal Standards for Federal Land Acquisitions&passed exam(2017) H)PROFESSIONAL INVOLVEMENT Region X Representative of the Appraisal Institute 2006—2009 President of the South Florida Chapter of the Appraisal Institute-2003 First Vice-President of the South Florida Chapter of the Appraisal Institute-2002 Second Vice-President of the South Florida Chapter of the Appraisal Institute-2001 Secretary of the South Florida Chapter of the Appraisal Institute-2000 Treasurer of the South Florida Chapter of the Appraisal Institute-1999 Chair of the Education Committee of the S.Florida Chapter of the Appraisal Institute-1995,1996,1997,1998,2007-2018 Chair of the University Relations Committee of the South Florida Chapter of the Appraisal Institute-2006 Director of the South Florida Chapter of the Appraisal Institute 1996-1998 Member of Region X(Florida)Ethics and Counseling Panel—Al Graduate of the Florida REALTORS Institute(GRI) Director of the Florida Association of REALTORS (FAR)-1981 Committee Member of the Florida Association of REALTORS,Education Committee 1980&1981 Chairman of the Education Committee of the Fort Lauderdale REALTORS- 1981 and 1982; Member 1978,1979,1980 Member of the Long Range Planning and Awards Committees of the Fort Lauderdale REALTORS Instructor for the Investment Division of the Fort Lauderdale REALTORS D PROFESSIONAL PUBLICATIONS&PRESENTATION Prepared and taught Mastering Real Estate Mathematics at the Fort Lauderdale Area Board of REALTORS Prepared and taught A Guide to Researching Real Estate Information in Broward County and Working Through the Basic Approaches to Market Value, Fort Lauderdale Area Board of REALTORS J) CIVIC INVOLVEMENT Member of the Navy League of the United States—Fort Lauderdale Council Lifetime Honorary Member-Florida Sheriff s Association Member of Zeta Tau Alpha Alumnae Fraternity 74 s�� Y 1 f i s,r � a k P v \\_ i cu A � i u k P f t �f k� fl i {Cly l 11 1 i �RK, V I I,i �I I I I I I '40 All t y z�!f i 1 r