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CRAAdvisory Board Meeting
Thursday, September 3, 2020 -6:30 PM
WebEx Online Meeting
561-737-3256
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AGENDA
1. Call to Order
2. Roll Call
3. Agenda Approval
A. Additions, Deletions, Corrections to the Agenda
B. Adoption of Agenda
4. Public Comment
5. Consent
A. Approval of CRA Advisory Board Meeting Minutes-August 6, 2020
6. Assignments
A. Pending Assignments
1. Review of Fiscal Year 2020-2021 Project Fund Budget
2. Review of Commercial Properties within Boynton Beach Boulevard
Corridor within CRAArea
B. Reports on Pending Assignments
7. Future Agenda Items
8. 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.
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ADVISORY BOARD ITEM 5.A.
CONSENT
SUBJECT:
Approval of CRA Advisory Board Meeting Minutes -August 6, 2020
SUMMARY:
See attached minutes.
CRAAB RECOMMENDATION:
Approve August 6, 2020 CRA Advisory Board meeting minutes.
ATTACHMENTS:
Description
August 6, 2020 CRAAdvisory Board Minutes
MINUTES OF THE CRAADVISORY BOARD MEETING
WEBEX ONLINE MEETING
100 E. OCEAN AVENUE
0 BOYNTON BEACH, FLORIDA 33435
HELD ON THURSDAY, AUGUST 6, 2020, AT 6:30 P.M.
PRESENT: STAFF:
Anthony Barber Michael Simon, CRA Executive Director
Allan Hendricks Thuy Shutt, CRAAssistant Director
Angela Cruz Theresa Utterback, CRA Dev. Svcs. Mgr.
Thomas Devlin Bonnie Nicklien, Administrative Svcs.
Golene Gordon Lisa Tayar, Prototype, Inc.
Sharon Grcevic
Aquannette Thomas ALSO PRESENT:
Sergeant Diehl
1. Call to Order
The meeting was called to order by Mr. Simon at 6:32 p.m.
Ms. Nicklien read the WebX virtual meeting protocol into the record.
2. Roll Call
Roll was called, and it was determined a quorum was present. All Board Members
introduced themselves.
[Item 4 taken out of order on the Agenda]
4. Nomination of Chair and Vice Chair
Chair Nomination: Anthony Barber
Vice Chair Nomination: Allan Hendricks
In a voice vote, the nominations were accepted unanimously (7-0).
3. Agenda Approval
A. Additions, Deletions, Corrections to the Agenda — None
B. Adoption of Agenda
Motion was made by Mr. Devlin, seconded by Ms. Cruz, to approve the Agenda. In a
voice vote, the motion passed unanimously (7-0).
5. Public Comment — None
Meeting Minutes CRA Advisory Board
Boynton Beach, Florida August 6, 2020
6. Consent
A. Approval of CRAAdvisory Board Meeting Minutes — September 5, 2019
Motion made by Ms. Cruz, seconded by Mr. Devlin, to approve the September 5, 2019,
minutes. In a voice vote, the motion passed unanimously (7-0).
7. Assignments
A. Pending Assignments
1 . None
B. New Assignments
1. Review of Fiscal Year 2020-2021 Project Fund Budget
Mr. Simon reviewed the handout of the CRA funding sources and uses: the
General Fund; the Debt Service Fund; and the Project Fund. This year, the
TIF revenue to the CRA this upcoming year is $14,852,192, which is up 6.5%
over last year. $5,883,434 remains for the Board to allocate to current and
upcoming projects, described as rollover balances; project fund allocations;
and project line item allocations. The Board's task is to review the CRA
recommendations and provide support of these numbers and how they are
allocated or provide recommendations to alter those numbers if needed.
Mr. Devlin clarified Line 1 that there is roughly a million dollars that didn't get
spent this year, so is that rolled over to next year; is there any reason to
believe that will actually be spent or could it be used for something else? Mr.
Simon explained that line item: the year before last, the CRA did an RFP for
properties on Martin Luther Kind Jr. Corridor (see solid yellow in map
provided). That RFP was responded to by Centennial Management which is
also the developer of Ocean Breeze East in North Seacrest. So the money
that was in that line item was set aside to assist whichever developer was
chosen in acquisition of other properties and public improvements. $627,000
was taken out of that number which was higher by that exact amount to honor
an agreement with Florida Housing Finance Corporation for a local
government match. The second line of the project funds spread sheet shows
this action of $625,750. Until the Board met, that first line was $1 .6 million,
so it was adjusted to reflect the local government match. The CRA has
obligated itself to help the developer carry the cost of the commercial,
explaining that there will be a development of 123 affordable units and about
eight thousand eighty-five hundred square feet of commercial on the north
side of Martin Luther King. The units are being split between the south side
and that north side. Mr. Simon further explained the criteria for this
development to help offset its costs.
Ms. Gordon had some questions on how much workforce housing can be
realized for the allotted $385,000; or could more funds be allocated for that.
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Meeting Minutes CRA Advisory Board
Boynton Beach, Florida August 6, 2020
Mr. Simon explained the boundaries (see map) of the Cottage District,
multiple pieces of property the CRA purchased over time. This project seeks
a developer to combine the individual pieces into one large mass and then
building individual homes or townhouses for about 32 to 40 units of ownership
and 250 units of rental; further opportunity for home ownership would be a
couple of blocks away. The $385,000 is for utility improvements needed on
NE 4th, 5th, site improvements, streetlights, sidewalks and other things to be
offered as assistance to the developer for overall development of the site.
Chair Barber had some further questions on the map; Mr. Simon said the
"green line" would be "new money," and explained how that funding
delineation works. Regarding the amphitheater, the funds allocated are to
enhance the stage, make it higher and put a back wall or screening to create
more of a "backstage" effect. $36,000-$50,000 could get the job done. More
detail can be provided at the next meeting if desired.
Ms. Gordon asked about business promotion and events assistance projects.
Mr. Simon referenced such events as "Rock the Plaza" and "Pirate Fest"
where events occur across the five plazas in the CRA district. Such funding
does not go directly to the businesses, but is used for marketing to draw
participants to the business. Covid-19 phase mandates have affected these
metrics, dropping the budgets almost in half; the task is to come up with a
budget "as if" able to do the events. If unused, will roll over to next year. Any
gathering of 25-150 persons per event has to be approved by the Governor
and then managed accordingly for social distancing. In about three weeks,
business assistance grants totaling over a million dollars were made to over
100 businesses within the CRA.
Chair Barber asked for clarification if line items would be business side
versus promotion side. Mr. Simon showed that everything CRA does is a
business promotion (perhaps the word event is confusing here). Discussion
ensued on various scenarios and business proposals received over recent
years; Mr. Simon said not all proposals/RFPs are financially feasible or
advantageous to the CRA. Reference was made to items later in the Agenda.
Motion made by Ms. Gordon, seconded by Mr. Devlin, to approve Assignment 7.B.1. In
a voice vote, the motion passed unanimously (7-0).
Discussion of Motion: Mr. Devlin noted the previous approval was for the entire
list; however, from a conversation with Ms. Nicklien, it is overspent by $827000;
should some kind of adjustment needs to be made. Mr. Simon said a
recommendation can be made on what to get rid of or leave it up to the CRA;
next month the Board will have made some adjustment that will zero it out.
Discussion ensued on how this is accomplished; the original motion will stand.
2. Review of Terms for an RFP/RFQ for the CRA Owned Properties located
at NE 4t" and NE 5t"Avenue, a.k.a. Cottage District
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Meeting Minutes CRA Advisory Board
Boynton Beach, Florida August 6, 2020
Mr. Simon showed an aerial depiction of the district development site stating
everything inside the red box is owned by the CRA; only two properties plus the
northwest corner that are not owned. The district is 4.3 acres, a block and a
half in width, wider than other blocks in the area. An RFP is being sent out.
There are three developers who have provided letters of interest; one wanted
to build townhouses only, another wanted to build 28 single-family detached
homes, and the third wanted to build a senior-affordable product somewhere
between 60 and 80 units surrounded by houses. The plan currently calls for
single family attached or detached, but no rental, single family, no senior. The
plan can be changed. The Board is looking for input on whether they should
stay with ownership housing only or venture into some type of hybrid.
Mr. Devlin asked if "senior" means they don't own it? Mr. Simon said, yes, it's
senior rentals, affordable rental, similar to what is being built at Ocean Breeze
East and MLK (very low, 30% to 60% of median for Palm Beach County), then
around it would be the houses. Mr. Devlin noted the proximity to the senior
center and would not mind considering senior housing.
Ms. Cruz would like to consider home ownership. Lately there has been a lot
of rental properties construction and not enough opportunities for home
ownership. Perhaps senior home ownership could be subsidized in some way
regardless of age. Discussion followed on defining home ownership regardless
of age, income eligible, affordable workforce housing, and general
homeownership, and proceeded into hybrid ideas for all ages combined with
single family housing on the same site. This is hypothetical at the moment,
especially as far as Planning & Zoning is concerned. Description of a larger
map of the whole area with a breakdown of current projects pending followed.
Ms. Grcevic noted that there are not enough products when it comes to multi-
family townhomes and affordable single-family; younger families in the
workforce could possibly get lower down payments instead of renting,
especially in the east corridor. Chair Barber clarified if housing for 55+ is
rentals; Mr. Simon said about 247 new units of multi-family, non-age restricted
rentals are along MLK, which includes Ocean Breeze. Chair Barber felt a
townhome community should be recommended in this area over single-family
(which could be unable to accommodate $315,000 homes in the area).
Townhomes could be priced at $130,000 to $170,000. This opinion met with
agreement from several Board Members, maxing out at a market rate of
$225,000 to $240,000.
Mr. Hendricks was not sold on senior rentals and likes seeing some creative
ideas; he is in agreement that townhomes sound right; there are lots of empty
single-family homes and lots in the neighborhood; the proximity to Town Square
is to be considered; and to foster well-designed principles so as not to build "the
slums of tomorrow." A discussion of market rates in the area followed, settling
4
Meeting Minutes CRA Advisory Board
Boynton Beach, Florida August 6, 2020
on what would constitute affordable workforce housing as established through
HUD and Palm Beach County.
Mr. Simon summarized the Board as being thus far in favor of ownership/
townhouses as most viable for the proposed District. Next question, when a
developer wants to use the CRA's property, a majority of the time financial
assistance is expected while not providing a lot of equity or "skin in the game"
themselves. The CRA wants to know the Advisory Board's level of expectation:
more favorable towards 1) developer putting money in as well as CRA money,
or 2) developer asking for all CRA money and none from the developer. It may
sound simple, but sometimes there will be three developers all seeking option
2 and the best of the three will have to be chosen. However, if there is a
requirement, that a developer has to have some percentage of ownership in
the project, that helps "weed out the chaff."
Ms. Gordon would suggest that a developer also comes with some money on
the table to meet the CRA which gives them more responsibility. Also, if the
developer would take suggestions on the townhomes would be agreeable.
Mr. Devlin agreed the developer should bring cash to the table, lending more
credibility to their reputation, and reducing CRA investment so funds can be
leveraged for other things.
Chair Barber asked if the plan is to give the property to the developer. Mr.
Simon said no, but that a parameter is needed or one of two things could occur,
but primarily the land could be offered as the one and only incentive. However,
this should not be offered at first, rather having the developer offer X for the
property or stating the property is needed for $0 to make the development
viable. As an example, on this site, no other offer rather than the one for mixed
product offered anything for the land; this is not realistic, no one is out
developing houses with zero investment in the land. Further examples of how
this could progress were given. The CRA strives to be an equity partner and
should be addressed as such from the beginning. The Board continued to
discuss what should be considered towards making a motion and
recommendations to the CRA.
Ms. Thomas asked about the process of vetting the developer; Mr. Simon said
CRA would examine corporate documents, tax returns, credit checks, criminal
records, financial capability, resume of project managers and similar products.
Chair Barber inquired regarding funding for project; Mr. Simon explained that
attention will be given on how the deal will be put together as well as the pro
forma sales price.
Motion made by Ms. Gordon, seconded by Mr. Hendricks, to approve townhomes; home
ownership (not rentals); sales price commensurate with affordable housing guidelines of
the County; developer responsibilities to weigh in and bring cash on the table; offer
5
Meeting Minutes CRA Advisory Board
Boynton Beach, Florida August 6, 2020
community improvement plan for surrounding and facing the Cottage District on 4th, Stn
and 1 St. In a voice vote, the motion passed unanimously (7-0).
3. Review of Commercial Properties within Main Areas of the CRA
Mr. Simon stated this is an interesting Board assignment and will require
committee work, which is something new. Although there is no acquisition
money available to the CRAAB, the assignment is to look at properties
currently available in the three corridors (Boynton Beach, Federal Highway,
and North Railroad & Third) and start identifying available properties and
begin formulating priorities based on what's available today in each corridor.
Three committees should be formed to start identifying properties for future
moves or acquisitions of the CRA when funding becomes available. This
project may take a month or two. Included in the assignment could be
purchases and identifying purpose, such as potential land for development,
tearing down, pocket parks, dog parks, etc. The Board could consider
themselves a little development advisory committee.
Chair Barber led the Members in quick questions and answers as to the criteria
and scope of the recommendations of the parameters of the new committee as
it develops. Mr. Simon said if the committee comes up with items the CRA
should discuss, anything at this point can be considered; the CRA has been
known to take on things no one else has interest in. After some cautioning on
not overthinking the project and some brainstorming for what the committee
could and should do, Mr. Simon summarized that the intent from the CRA was
that the CRAAB get involved in research of a plan, properties, how they work
together. The idea was for the Advisory Board to become more familiar with
what the CRA actually does. Mr. Simon wished the assignment had been more
specific to a task and apologized that the assignment wasn't more productive
with an actual outcome; the Board continued contributions to what this
assignment could be with more input from the CRA. The purpose was to have
the CRAAB do the "work" that the Staff would usually do and as an exercise
vote on which property was liked the most. Mr. Simon said that perhaps the
CRA Board needs to reconsider this assignment as it is not realistic as it now
stands and the discussion could be tabled for now while he talks to CRA for
more direction.
Motion made by Mr. Devlin, seconded by Ms. Gordon, to table this item. In a voice vote,
the motion passed unanimously (7-0).
Mr. Simon asked if it is of interest of the Board to have liaisons of CRAAB to
attend CRA meetings and to attend City Commission meetings. Right now, the
motivation of the members varies widely when it comes to attending CRA
Board meetings. A way to be more involved, which may be what the last
assignment was attempting, maybe this group could assign some members to
6
Meeting Minutes CRA Advisory Board
Boynton Beach, Florida August 6, 2020
attend the CRA meeting or Commission meetings for a month and report back
with two of the most important items. The suggestion was opened for a quick
discussion.
Motion made by Mr. Devlin, seconded by Ms. Grcevic, that CRA reconsider two CRAAB
members be members of the CRA. In a voice vote, the motion passed unanimously (7-
0).
Mr. Simon will talk directly to the Commissioners about this item. General
discussion ensued. Mr. Hendricks voiced opinion that all members of CRAAB
should be going to the meetings and that some liaisons be picked in the interim
to attend City meetings and improve the efficiency of this Board. Mr. Simon
stressed the importance of CRAAB members attending CRA board meetings
whether assigned to do so or not. General consensus was in agreement.
8. Future Agenda Items - None
9. Adjournment
Upon motion duly made and seconded, in a voice vote, the motion passed unanimously
(7-0) and the meeting was adjourned at 8:37 p.m.
Attachments: Proposed Fiscal Year 2020-2021 Project Fund Budget
Terms for an RFP/RFQ for the CRA Properties in Cottage District
[Minutes transcribed by M. Moore, Prototype, Inc.]
7
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ADVISORY BOARD ITEM A.1.
PENDING ASSIGNMENTS
SUBJECT:
Review of Fiscal Year 2020-2021 Project Fund 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
funding based on a percentage share of the existing ad-valorem property taxes paid to the City of
Boynton Beach and Palm Beach County.
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;
2. The Debt Service Fund which contains the CRAs financial debt obligations and
encumbrances such as bond repayments and developer's tax increment funding agreements;
and,
3. 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;
At this first CRA budget meeting, the Board's FY 2020-2021 Project Fund budget allocation
discussion will assist in identifying the priority projects for the upcoming fiscal year as well as
deciding what funding amounts to provide to each proposed Project (see Attachment 11). The
Project Fund and overall budget breakdown will identify bond debt obligations, existing tax
increment revenue funding agreements obligations and available funding for priority projects,
programs or funding requests such as but not limited to the Neighborhood Officer Police
Program, District Improvement Projects, Business Development and Promotional Events (see
Attachment I I & 111), and Marketing.
The CRA's FY 2020-2021 Budget discussion will occur again at the CRA Advisory Board's
(CRAAB) September 3rd meeting as well as the CRA Board's September 8th meetings prior to
adoption by the CRA Board. Final approval and adoption of the CRA's annual budget for Fiscal
Year 2020-2021 by the Boynton Beach City Commission is anticipated to occur at their
September 15, 2020 meeting.
FISCAL IMPACT:
To be determined based on Board discussion and action.
CRA PLAN/PROJECT/PROGRAM:
2016 Boynton Beach Community Redevelopment Plan
CRAAB RECOMMENDATION:
Assignment: To provide support or recommendations on the Project Fund Allocations for the FY
2020-2021 Budget as proposed by the CRA Board at their August 11, 2020 meeting (see
Attachment 1).
CRA BOARD OPTIONS:
To be determined by CRA Board based on discussion and direction.
ATTACHMENTS:
Description
D Attachment I - Fiscal Year 2020-2021 CRA Budget Worksheets
D Attachment II - Business Promotions & Events
D Attachment III - Project Fund Maps
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BOYNTON BEACH CRA
FY 2020 -2021
BUSINESS PROMOTIONS & EVENTS BUDGET PROPOSAL
2020/202
EVENTS/CAMPAIGNS DATE BUDGET
BUSINESS PROMOTIONAL VIDEO AD Eight plaza highlights:Sunshine 6quare, Hiverwalk,
CAMPAIGN FOR PLAZAS One Boynton,Casa Costa,500 Ocean,Ocean Plaza,
Ocean Palm Plaza,Boynton Harbor Marina $6,000
Marketing $1,600
Business Promotional Video Ad Campaign Total $7,600
BUSINESS PROMOTIONS SOCIAL MEDIA Four social media marketing campaigns to promote
AD CAMPAIGN/CONTEST businesses located in the BBCRA area. $10,000
E. Ocean Ave. (between Federal Hwy.and NE
3rd St.) Marketing $3,000
Business Promotions Social Media Campaign Total $13,000
BOYNTON BEACH BUCKS Incentive program for patronage of BBCRA area
businesses $5,000
Marketing $500
Boynton Beach Bucks Total $5,500
DINNER&A MOVIE AT THE PLAZA
Ocean Palm Plaza TBD $6,500
Sunshine Square Plaza TBD $6,500
Riverwalk Plaza TBD $6,500
Event Marketing $10,000
Dinner&A Movie At The Plaza Total $29,500
PLAZA CRAWL
500 Ocean TBD $7,200
Riverwalk Plaza TBD $7,200
Casa Costa TBD $7,200
One Boynton TBD $7,200
Ocean Palm Plaza TBD $7,200
Sunshine Square TBD $8,700
Ocean Plaza TBD $7,200
Event Marketing $25,000
Total Plaza Crawl $51,900
HOLIDAY BOAT PARADE Friday, December 11,2020 $11,250
735 Casa Loma Blvd. Event Marketing $3,500
Total Light up the Pawl $14,750
BLARNEY BASH Saturday, March 13,2021 $45,000
E. Ocean Ave. (between Seacrest Blvd.and
NE 1st St. Event Marketing $10,000
Total Blarney Bash $55,000
ROCK THE MARINA&LIONFISH DERBY TBD $19,820
735 Casa Loma Blvd. $5,180
$25,000
EQUIPMENT&SUPPORT $55,000
CEREMONIAL EVENTS $25,000
Sub-Total Events $248,470
Sub-Total Events Marketing $58,780
TOTAL COST OF EVENTS► $307,250
6
............................................
$30MM MLK CORRIDOR PROJECT
CRA PROJECT
136UNITS&KNOWN
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COMMLPM rAGENC"'Y
ADVISORY BOARD ITEM A.2.
PENDING ASSIGNMENTS
SUBJECT:
Review of Commercial Properties within Boynton Beach Boulevard Corridor within C RA Area
SUMMARY:
At their July 14, 2020 meeting, the CRA Board assigned the CRAAB with the task of identifying
available properties located within key commercial and light industrial areas of the CRA. CRA
staff will provide the CRAAB with a list of properties found on Costar/LoopNet and the Multiple
Listing Service that are being marketed as "for sale."
The CRA Board's assignment involves the CRAAB performing research and analysis on these
properties. The goal of the assignment is to have the CRAAB provide a priority list of properties
or recommendations on whether or not to pursue possible acquisition based on available funding.
All land assemblages for future redevelopment shall be in furtherance of the 2016 Boynton
Beach Community Redevelopment Plan.
At the August 11, 2020 Board Meeting, the CRA Board provided further direction for CRAAB to
focus on the Boynton Beach Boulevard corridor for the assignment to coincide with the future
Boynton Beach Boulevard roadway improvements and other redevelopment activities. CRA staff
has provided the results of available property searches from CoStar/LoopNet as Attachment I.
FISCAL IMPACT:
To be determined.
CRA P LAN/P ROJ ECT/P ROG RAM:
2016 Community Redevelopment Plan
CRAAB RECOMMENDATION:
To be determined.
CRA BOARD OPTIONS:
To be determined.
ATTACHMENTS:
Description
Attachment I -Commercial Properties For Sale on E. Boynton Beach Blvd.
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.P r ata
300 NE 2nd St Building Type:Land Space Avail:0 SF
Status: Existing Max Contig:0 SF
Boynton Beach,FL 33424 Building Size: Smallest Space:-
Palm Beach County Land Area: 1.03 AC Rent/SFNr:For Sale Only
Stories:- % Leased:0%
Boynton/Lantana Submarket
8/26/2020
Copyrighted report licensed to Boynton Beach Community Redevelopment Agency-686423.
Only properties with valid lat/lon display on map
Page 1
..w_,.,,,..._... 225 W Boynton Beach Blvd Building Type:Land Space Avail:46,174 SF
d„ «"Oo Status: Existing Max Contig:0 SF
Boynton Beach,FL 33435 Building Size: Smallest Space:_
..... ......... ....... Land Area: 1.06 AC Rent/SF/Yr:Withheld
Palm Beach County Stories:_ % Leased:0%
Boynton/Lantana Submarket
j 420 W Boynton Beach Blvd Building Type:Class B Office/Loft/Creative Space Avail:6,000 SF
Space Max Contig:6,000 SF
i
Boynton Financial Centre Status:Built 1985 Smallest Space:6,000 SF
Boynton Beach,FL 33435 Building Size:6,083 SF Rent/SF/Yr:For Sale Only
rr�rrrrl�(„��ur�rr�r��rr'nr11111,rlll�fl!�r%i/`��`, Y
Typical Floor Size:6,000 SF % Leased:1.4%
Palm Beach County Stories:2
Expenses:2019 Tax @$3.23/sf
Boynton/Lantana Submarket
433 W Boynton Beach Blvd Building Type:Land Space Avail:0 SF
Status: Existing Max Contig:0 SF
Downtown Boynton Beach Building Size: Smallest Space:_
Blvd. Land Area:0.56 AC/0.56 AC(Net) Rent/SF/Yr:For Sale Only
Boynton Beach,FL 33435 Stories:_ % Leased:0%
Palm Beach County
Boynton/Lantana Submarket
8/26/2020
Copyrighted report licensed to Boynton Beach Community Redevelopment Agency-686423.
Only properties with valid lat/lon display on map
Page 2
Property Summary Report
300 NE 2nd St
Boynton Beach, FL 33424- Boynton/Lantana Submarket
I IIIA
1
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LAND
...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Type: Commercial Land Topo3rr phylr Level
11 and A(ti; 1.03 AC
11 and SlIf= 44,867 SF
ZONING& USAGE
...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Zonirg3 C4, R2
1roposed UseMixed Use
Approval: Maps
CURRENT CONDITION
...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Grading: Raw land
lnfrasitruciturc: No Curb/Gutter/Sidewalk, No Electricity, No Gas, No Sewer, No Streets, No Water
TRAFFIC& FRONTAGE
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,„,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
Traffic VolGrrnec: 19,585 on East Boynton Beach Boulevard &NE 3rd St(2020)
33,915 on E Boynton Beach Blvd& NE 3rd St(2013)
F=ronitagc: 172'on NE 2nd St.
I%u,1nwith 1("M("ts
TRANSPORTATION
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,„,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
Corrunuitcr II';rril: 8 minute drive to Boynton Beach Commuter Rail (Tri-County Commuter)
Airport 22 minute drive to Palm Beach International Airport
Walk Score co: Very Walkable(77)
Transit Score co: Minimal Transit(0)
8/26/2020
Copyrighted report licensed to Boynton Beach Community Redevelopment Agency- Pae 1
686423. rte* CoStaYT'” 9
Property Summary Report
225 W Boynton Beach Blvd
Boynton Beach, FL33435- Boynton/Lantana Submarket
.��
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- --
-
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�m
LAND
Typm� Commercial Land xopogmphy� Level
11 and 1.06 AC
Land 8F� 46,174 SF
ZONING& USAGE
Zoning� C2 and and R1A
Proposed Uam� Commercial,Convenience Store, Day Care Center, Fast Food, Modioa|, Rootauram, Retail, Service Station,Strip Center
CURRENT CONDITION
Gmding� Raw land
|nhaal[rucuna� CurbKGuoor/Sidowa|k. Electricity, NoGas, Sewer, Streets,Water
TRAFFIC& pmDmnuGs
TraffioVo|umm� 32.14OonWest Boynton Beach Boulevard& NVV3rd St(2O2O)
30,783 on VV Boynton Beach Blvd &NVV4th St(2020)
Fmnl[ogm� 260'on Boynton Beach Blvd.(with 4curb cuts)
m°^nmmp"uM("ts
TRANSPORTATION
Commui[mr7 minute drive m Boynton Beach Commuter Rail (Tri-County Commuter)
AirporL 21minute drive mPalm Beach International Airport
Walk Score(lo�� Very Walkable(72)
TmnaitScore(lo�� Minimal Transit(0)
8/26/202o
Copyrighted report licensed mBoynton Beach Community Redevelopment Am*n"v 686423.
C0St@I- Page
Property Summary Report
420 W Boynton Beach Blvd ~ Boynton Financial Centre
Boynton Beach, FL33435- Boynton/Lantana Submarket
BUILDING
Typm� Class BOffice
xmnanoy� Multiple
Year111ui|t 1885
1:,13k 6,083 SF
Fkmm� 2
Typical Floor 6,000 SF
Conamucnon� Reinforced Concrete
LAND
11 and 0.34 AC
Zoning� C2
EXPENSES PER SF
Taxma� $3.23(2018)
nummsL
084345-28-11-000-0030
AMENITIES
24Hour Access, Controlled Access, Natural Light, Partitioned Offices, Plug& Play, Signage
LEASING
Axai|ab|m8paoaa� NoSpaces Currently Available
TRANSPORTATION
Parking� Sur-face Spaces @$O.00/mo;24free Covered Spaces are available; Ratio of3.95/1.00OSF
Commui[mr7 minute drive to Boynton Beach Commuter Rail (Tri-County Commuter)
AirporL 22minute drive toPalm Beach International Airport
Walk Score(lo�� Somewhat Walkable(05)
TranaitScore(lo�� Minimal Transit(0)
KEY TENANTS
Subway South Florida 1.200 SF Gmr Payment Service 300 SF
PROPERTY CONTACTS
True Owner u20West Boynton Bch Blvd L|n RmoordmdOwnmr u20West Boynton Bch Blvd L|n
Pmpmrl[yAanagmrSubway ofSouth Florida
uoaoouo
Copyrighted report licensed mBoynton Beach Community Redevelopment Am*n"v 686423.
C0St@I- Page
Property Summary Report
420 W Boynton Beach Blvd - Boynton Financial Centre7 � 'r
Boynton Beach, FL 33435- Boynton/Lantana Submarket
MARKET CONDITIONS
...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Vacancy Rates Current YOY Gross Asking Rents Per SF Current YOY
Current Building 98.6% 98 6% Submarket 1-3 Star $29.95 7. %
Submarket 1-3 Star 9.5% 0 ))% Market Overall $35.21 4 5%
Market Overall 10.4% 1.2%
Submarket Leasing Activity Current YOY Submarket Sales Activity Current YOY
12 Mo. Leased SF 141,351 0.51% 12 Mo. Sales Volume(Mil.) $8.1 -5°::1.7`%
Months On Market 9.0 1.0 mi) 12 Mo. Price Per SF $274 )).0%
8/26/2020
Copyrighted report licensed to Boynton Beach Community Redevelopment Agency- e 5 Pa
686423. Costar-'" Page
Property Summary Report
433 W Boynton Beach Blvd - Downtown Boynton Beach Blvd. � �"G
Boynton Beach, FL 33435- Boynton/Lantana Submarket
w
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HWG1T 4'tta Street sub ' '� NW' Street
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LAND
...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Type: Commercial Land Topo3rr phylr Level
l and A(ti; 0.56 AC
l and SlIf= 24,394 SF
:)irr ensior'&� Irregular
PARCEL
...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
08-43-45-21-15-000-0830
ZONING& USAGE
...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Zoniirg3 C2-Office/Retail
1roposed UseHold for Investment
CURRENT CONDITION
...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
irnprovcrncnk) Vacant land
Grading: Raw land
infrasl[ruckjrc: Curb/Gutter/Sidewalk, Electricity,Gas, Sewer, Streets,Water
TRAFFIC& FRONTAGE
...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Traffic VolGrrnec: 29,966 on W Boynton Beach Blvd &NW 4th St(2018)
32,820 on W Boynton Beach Blvd &1-95(2013)
h ronl[a3r 218'on W Boynton Beach Blvd
113'on NW 4th St
I%u,1nwith 111("M("ts
8/26/2020
Copyrighted report licensed to Boynton Beach Community Redevelopment Agency- e 6
686423. Costar*'" Page
Property Summary Report
433 W Boynton Beach Blvd - Downtown Boynton Beach Blvd. � �"G
Boynton Beach, FL 33435- Boynton/Lantana Submarket
TRANSPORTATION
...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Corrurmi[er II';rril: 7 minute drive to Boynton Beach Commuter Rail (Tri-County Commuter)
Airport 21 minute drive to Palm Beach International Airport
Walk Score cT: Somewhat Walkable(65)
Trrrns4 Score cT: Minimal Transit(0)
PROPERTY CONTACTS
...........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
True Owner: HASNER REALTY CORPORATION
;ccord(,d Owner: Boynton East Llc
1rior True Owner: Castle Florida Building Corp
8/26/2020
Copyrighted report licensed to Boynton Beach Community Redevelopment Agency- e 7
686423. CoStaYT'" Page