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Agenda 05-10-22 BOYNTO 4L REVISED Community Redevelopment Agency Board Meeting Tuesday, May 10, 2022 -5:30 PM GoToWebinar Online Meeting and City Hall Chambers, 100 E. Ocean Avenue 561-737-3256 AGENDA 1. Call to Order 2. Invocation 3. Pledge of Allegiance 4. Roll Call 5. Agenda Approval A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda 6. Legal 7. Informational Items and Disclosures by Board Members and CRA Staff: A. Disclosure of Conflicts, Contacts, and Relationships for Items Presented to the CRA Board on Agenda 8. Announcements and Awards A. Rock the Block on May 21, 2022, at Downtown Boynton Beach B. Rock the Marina & Lionfish Derby on June 11, 2022, at the Boynton Harbor Marina 9. Public Comments The public comment section of the meeting is for public comment on items that are not on the agenda. For items on the agenda, the public will be given an opportunity to comment at the time each item is considered. Each speaker will be given a total of three (3) minutes to comment;however the Board retains the right to reduce the number of minutes prior to the start of public comment. Persons making public comment may not assign or donate their public comment time to another individual to allow that other individual additional time to comment;however, any persons requiring assistance will be accommodated as required by the Americans with Disabilities Act. Prior to addressing the Board,please go to the podium or unmute your device when prompted, and state your name and address for the record. 10. CRAAdvisory Board 11. Consent Agenda A. CRA Financial Report Period Ending April 30, 2022 B. Approval of CRA Board Meeting Minutes-April 12, 2022 C. Approval of 90-day Extension for the Commercial Property Improvement Grant for The Coffee and Ale Exchange, LLC d/b/a Bond Street Ale and Coffee Located at 400 N. Federal Highway, Unit 12 12. Pulled Consent Agenda Items 13. Old Business A. Discussion and Consideration of Letters of Intent for the Boynton Beach CRA-owned Properties located at 402 and 404 NW 12th Avenue B. Discussion and Consideration of Letters of Intent for the Cottage District TABLE Infill Housing Redevelopment Project4/12/22) and (REVISED) C. Update of Negotiations between the CRA and Affiliated Development, LLC TABLE for the 115 N. Federal Hwy Infill Mixed Use Redevelopment Project4/12/22) D. Discussion and Consideration of the CRA-owned Property located at 401- 407 E. Boynton Beach Boulevard 14. New Business A. Discussion and Consideration of the Terms of the H omebuyer Assistance TABLE Program4/12/22) B. Discussion and Consideration of the Purchase of 1213 NW 4th Street, the Cherry Hill Mart C. Discussion and Consideration of Request from the USPS to Remain at the CRA-owned Property Located at 217 N. Seacrest Boulevard Post-Closing D. Presentation by Palm Beach County Housing Authority on the Properties within the CRA District E. Consideration and Discussion of the Boynton Beach CRA Policy for Processing CRA Board Agenda Items 15. CRA Projects in Progress A. CRA Economic& Business Development Grant Program Update B. Rock the Plaza at One Boynton Recap C. Social Media & Print Marketing Update D. MLK Jr. Boulevard Corridor Mixed Use Project (dba Heart of Boynton Village Apartments) Update 16. Future Agenda Items A. Discussion and Consideration of Direction and Assignments for CRA Advisory Board B. Tree Canopy Coverage Project Update C. Project Update on the Bride of Christ Daycare Center at NE 10th Avenue D. Semi-Annual Progress Report- MILK Jr. Boulevard Corridor Mixed Use Project (dba Heart of Boynton Village Apartments LLC) E. Semi-Annual Progress Report- MILK Jr. Boulevard Corridor Mixed Use Project (aka Heart of Boynton Village Shops) 17. Adjournment NOTICE IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE CRA BOARD WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING, HE/SHE WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE, HE/SHE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDING IS MADE,WHICH RECORD INCLUDES THE TESTIMONYAND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. (F.S.286.0105) THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITHA DISABILITYAN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED BY THE CRA. PLEASE CONTACT THE CRA, (561) 737-3256,AT LEAST 48 HOURS PRIOR TO THE PROGRAM OR ACTIVITY IN ORDER FOR THE CRA TO REASONABLY ACCOMMODATE YOUR REQUEST. ADDITIONAL AGENDA ITEMS MAY BE ADDED SUBSEQUENT TO THE PUBLICATION OF THE AGENDA ON THE CRNS WEB SITE. INFORMATION REGARDING ITEMS ADDED TO THE AGENDA AFTER IT IS PUBLISHED ON THE CRNS WEB SITE CAN BE OBTAINED FROM THE CRA OFFICE. BOYNTO C D wimBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 ANNOUNCEMENTS AND AWARDS AGENDAITEM: 8.A. SUBJECT: Rock the Block on May 21, 2022, at Downtown Boynton Beach SUMMARY: On Saturday, May 21, 2022, the CRA will host the Rock the Block event in Downtown Boynton Beach along East Ocean Avenue between NE 31d Street and Federal Highway. Event details are as follows: The multi-block event will feature live music from the band Making Faces, food and beverages from downtown restaurants, family-friendly activities and games, and exhibits from local Boynton Beach businesses. Event attendees will be encouraged to enjoy the festivities, stroll the avenue, shop with merchants, and dine at restaurants. To maximize customer outreach, CRA staff will work with interested businesses to activate various Boynton Beach Bucks offers during the event. Free parking will be available at the public parking lot located at 115 N. Federal Highway and the adjacent lots that are located west of the Boardwalk Italian Ice & Creamery on NE 1St Street. Additional parking will be available at the City Hall parking lot located on the southeast corner of Boynton Beach Boulevard and Seacrest Boulevard. Please see Attachment I for the branded promotional poster that will be distributed to businesses throughout the BBC RA area and at City of Boynton Beach municipal buildings. FISCAL IMPACT: FY 2021 - 2022 Budget, Project Fund, Line Item 02-58500-480 - $20,000 for the event and $4,000 for marketing. CRA P LAN/P ROJ ECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: No action is required from the CRA Board at this time. ATTACHMENTS: Description D Attachment I - Promotional Poster e� � 4 B Dy go 00 NT aN or anni41" y Inv ktld MUSIC � PRESENTEDBY BOYNT6 =BEACH (CRA COMMUNITY REDEVELOPMENT AGENCY BOYNTONBEACH CRA.COM Interpreter available upon request. Contact CoppinM@bbfl.us or (561)600-9097 BOYNTO C D wimBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 ANNOUNCEMENTS AND AWARDS AGENDAITEM: 8.13. SUBJECT: Rock the Marina & Lionfish Derby on June 11, 2022, at the Boynton Harbor Marina SUMMARY: On Saturday, June 11, 2022, the CRA will host the Rock the Marina & Lionfish Derby at the Boynton Harbor Marina. ROCK THE MARINA DETAILS • The free event will take place from 12:00 p.m. to 4:00 p.m. at the Boynton Harbor Marina, which is located at 735 Casa Loma Boulevard. • Free parking will available in the public parking lot located at 115 N. Federal Highway and in the adjacent parking lots located on NE 1st Avenue that are west of The Boardwalk Italian Ice & Creamery. Additionally, paid parking will be available inside of the Marina Village parking garage. • The event will feature live music from Spred the Dub, a reggae/ska band, and Spider Cherry, a rock/funk band. • Event patrons are encouraged to visit the restaurants located at the Marina, as outside food vendors will not be present. • Cocktails will be available for purchase from Two Georges Waterfront Grille. • The event will feature sustainable cooking demonstrations on how to properly clean and prepare lionfish. • Various not-for-profit organizations will be onsite to share information about marine conservation and various sustainability efforts that are taking place throughout the county. • The Lionfish Derby awards presentation is scheduled to take place at 3:00 p.m. LIONFISH DERBY DETAILS • All certified divers are invited to participate in the Lionfish Derby. • The one-day derby will take place on June 11th between the hours of 8:00 a.m. and 12:30 p.m. • The registration fee is $85 per person and includes a 2-tank dive on one of the participating dive charters: Loggerhead Dive Charters, Splashdown Divers, Starfish Scuba, or Boynton Beach Diver. • Participants must register in 2-person teams. • Space on the participating dive charters is limited and will be offered on a first come first serve basis only. • As part of a business development effort, arrangements have been made for Marina Cafe to provide a breakfast combo to each participant. • Prizes will be awarded in the following categories: Most fish, largest fish, and smallest fish. • Interested parties can download the registration form at vv�vi o;,,,.} oi,,, ea( ;,CR corri, or contact Force-E Scuba Centers at (561) 810-4451. Attachment I — Promotional Flyer for Lionfish Derby Attachment I I — Promotional Flyer for Rock the Marina event FISCAL IMPACT: FY 2021 - 2022 Budget, Project Fund, Line Item 02-58500-480, $21,000 for the event and $6,000 for marketing. CRA P LAN/P ROJ ECT/P ROG RAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: No action is required from the CRA Board at this time. ATTACHMENTS: Description D Attachment I - Promotional Poster for Lionfish Derby D Attachment II - Promotional Poster for Rock the Marina Event 91 CALLING ALL DIVERS1. SATURDAY JUNE 11TH 8 AM ® 12 PM - -TANK - - E DIVERS PER TEAM I R®C SB5 PER PER THE (CHARTER 8BREAKFAST MCU E MARINA TO REGISTER CONTACT �r BOYNTON@ F E-E t I. . - I2 - 4PM PM ------------------------ E EVENT FEATURINGMUSIC BY 735 CASA LOMA ® LIONFISH TASTINGS - FOS` - DRINKS 1 � n t RDAY = JUNE 11 TH 121:99 PM mm 4:90 PM 735 CASA LOMA BLVD. !'lls , too FEATURING LIVE MUSIC BY SPRED THE DUB 6 R®CK ; THESPIDER CHERRY MARINA LIONFISH TASTINGS FOOD DRINKS BOYNTON BE AC HppK NI'l y;? „1,44. I t',t r a d • •+ BOYNTON IIS CHERALOM t t 7h '=r i f S ^k I r, ,u BOYNTO C D m'm,BEACH :: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 MEETING VIDEO AGENDAITEM: SUBJECT: Public Comments SUMMARY: The public comment section of the meeting is for public comment on items that are not on the agenda. For items on the agenda, the public will be given an opportunity to comment at the time each item is considered. Each speaker will be given a total of three (3) minutes to comment, however the Board retains the right to reduce the number of minutes prior to the start of public comment. Persons making public comment may not assign or donate their public comment time to another individual to allow that other individual additional time to comment, however, any persons requiring assistance will be accommodated as required by the Americans with Disabilities Act. Prior to addressing the Board, please go to the podium or unmute your device when prompted, and state your name and address for the record. BOYNTO C D wimBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 CONSENT AGENDA AGENDAITEM: 11.A. SUBJECT: CRA Financial Report Period Ending April 30, 2022 SUMMARY: CRA Financial Services staff is providing the CRA Board with the monthly financial and budget reports for the period ending April 30, 2022 (Attachment 1): • Statement of Revenues • Expenditures and Changes in Fund Balance Report • Budget Comparison Schedule - General Fund FISCAL IMPACT: FY 2021-2022 Annual Budget CRA P LAN/P ROJ ECT/P ROG RAM: 2016 Boynton Beach Community Redevelopment Plan and FY2021-2022 CRA Budget CRA BOARD OPTIONS: Approve the C RA's monthly financial and budget reports for the period ending April 30, 2022. ATTACHMENTS: Description D Attachment I - Monthly Financial Report for Period Ending April 30, 2022 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-April 30,2022 Total Debt Service Governmental General Fund Projects Fund Fund Funds REVENUES Tax increment revenue 15,918,708 15,918,708 Marina Rent&Fuel Sales 1,077,068 1,077,068 Contributions and donations - - - - Interest and other income 113,588 378,508 820 492,916 Total revenues 17,109,364 378,508 820 17,488,692 EXPENDITURES General government 2,243,351 - - 2,243,351 Redevelopment projects - 8,082,910 8,082,910 Debt service: - Principal - - - Interest and other charges - - 138,575 138,575 Total expenditures 2,243,351 8,082,910 138,575 10,464,837 Excess(deficiency)of revenues over expenditures 14,866,013 (7,704,402) (137,756) 7,023,855 OTHER FINANCING SOURCES(USES) Funds Transfers in - 13,513,787 2,140,528 15,654,315 Funds Transfers out (14,239,631) - - (14,239,631) Total other financing sources(uses) (14,239,631) 13,513,787 2,140,528 1,414,684 Net change in fund balances 626,382 5,809,385 2,002,772 8,438,539 Fund balances-beginning of year 3,860,106 11,852,619 120,621 15,833,346 Fund balances-end of year 4,486,488 17,662,004 2,123,393 24,271,885 Footnote: Transfers between funds include monies received from TIF and carryover from general fund balance. The notes to the basic financial statements are an integral part of this statement. 1 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Budgetary Comparison Schedule General Fund Through Year to Date - April 30, 2022 Original Budget Final Budget Actual REVENUES Tax increment revenue $ 15,801,715 $ 15,801,715 15,918,708 Marina Rent& Fuel Sales 1,000,000 1,000,000 1,077,068 Interest and other income - - 113,588 Other financing sources(uses) 100,000 1,235,316 - Total revenues 16,901,715 18,037,031 17,109,364 EXPENDITURES General government 3,797,400 3,797,400 2,243,351 Total expenditures 3,797,400 3,797,400 2,243,351 Excess of revenues over expenditures 13,104,315 14,239,631 14,866,013 OTHER FINANCING SOURCES (USES) Carryover fund balance - Transfers out (13,104,315) (14,239,631) (14,239,631) Total other financing sources(uses) (13,104,315) (14,239,631) (14,239,631) Net change in fund balances $ - $ - 626,382 Fund balances-beginning of year 3,860,106 Fund balances-end of year 4,486,488 The notes to the basic financial statements are an integral part of this statement. 1 }+ > N to c f, L N a Lo O Mc O O O O v ci r` oo m Ln r` oo N O O Ln ci 0 Lo m O ci r` O O ci 0 Lo 0 O O ,� n N O W O O O O O O Ln m Ln 7 to W 7c N to N 7 M O n Ln O O r" O Ln O O m O M O O O O O Ln N M c-I l6 O N W c-I N O I� W M 7 7 O j N O O O O O O \ c-I O l0 n l0 m l0 Ln 00 O m o0 I" l0 M O W M O o0 00 00 O �J y N N N c-I N rj5 /11 M V/ Eo� O wO m oo N O r" 7 m O (n O N N O ti m N Ln O O M 7 c-I M O ci O O O ci O N O N r_/YYO N Il Il l0 M m O O I: O N o0 c-I c-I O l0 N O O ti O ti M O ti m O O M O N O C M m O Ln O � m � to w Ln m c-i r" c-i c-i c-i M O Ln N � m M O r, to Ln O c-i O w O O '� m Ln m r, to to N m N w Ln 7 N N Ln Ln N w M O O r, to W to O to Ln r, O Ln O M O ^ \ E m N 't � M l Lr1 M M I Il Il l r, It m m l m It Lr1 Il N c-I � oo Lr1 O oc oo M O L Lo m w � M N Lo � Ln N m � oo Ln N N r, c-I M Lo Ln T\ -I � c-I c-I I.f1 M oo N M N c-I c-I c-I c-I oo V Q c N O N 0 v ti U o -o m N Q O ci o0 N O I, m O N O l0 W o0 O m ci o0 Ln O O I, l0 m I, O m O O O m O o0 O fu O Il n n l0 M m O O N O Il ci Ln m oo m M Il O O W m oo l0 O W -! 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N ell 2to r O C _. N (� •N r O E 0 O N C O ti N0 N •C c- O (V (YI \ �o O r-, m 0 'R Lr r' a \ O N n a n oo O m 0 to Lr O N L y I, N O d to CO 'o m m ma m fp u o0 V) 00 m M M n Ll 0 a N o ooc c a '6 Ln N W W N to m N Lf1 I� T Z c-I p1 c-I 00 + w N o V Q to m N n o0 o t oo oo rl c m N F � � tri O c� O^ W M 7 O n to N N Go m O n Ln N O V) O l0 N I- N N d m O O O O It I9 O O O O p O O O O 3 m f6 u H LL U -! �o O n c of vi c v m r N ti m E N r m r W f6 0 0 F t O G d 00 Z Z D U_ W W N w Q u W W W N z O m W � W C LL O O O O Q d � 1 w G/ ll0 0 3 m t � ^mj m 4, j d Q tt BOYNTO C D m'swBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 CONSENT AGENDA AGENDAITEM: 11.13. SUBJECT: Approval of CRA Board Meeting Minutes -April 12, 2022 SUMMARY: See attached minutes. CRA BOARD OPTIONS: Approve the April 12, 2022 CRA Board Meeting Minutes ATTACHMENTS: Description D Attachment I -April 12, 2022 CRA Meeting Minutes Minutes of the Community Redevelopment Agency Board Meeting Held on Tuesday, April 12, 2022, at 5:30 PM via GoToWebinar Online Meeting and Commission Chambers, City Hall, 100 E. Ocean Avenue, Florida Present: Ty Penserga, Board Chair Thuy Shutt, Executive Director Angela Cruz, Vice Chair Tim Tack, Assistant Director Woodrow Hay, Board Member Kathryn Rossmell, Board Counsel Thomas Turkin, Board Member 1. Call to Order Ty Penserga, Board Chair called the meeting to order at 5:30 p.m. 2. Invocation The Invocation was given by Board Member Hay. 3. Pledge of Allegiance Board Member Turkin led the Pledge of Allegiance to the Flag. 4. Roll Call A quorum was present. 5. Agenda Approval A. Additions, Deletions, Corrections to the Agenda Chair Penserga offered the following amendments: • Moving the entire CRA Projects in Progress section 13 A through G to after Business. • Clear the pending assignments for CRA Advisory, Items 10 A 1 and 2. He noted there is a new board and the Board should determine new priorities • Leaving Items14 C and F, 15 A on the table. The items are substantial policy decisions and they will appoint a new member to the CRA and he wants fifth member to participate in the discussion • Adding Agenda Publication Date and Deadlines to New Business. Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 B. Adoption of Agenda Motion Board Member Vice Chair Hay moved to amend the agenda to move CRA Projects is Progress after New Business. Board Member Turkin seconded the motion. The motion passed unanimously. Chair Pensesrga requested a motion to clear CRA Advisory Board Assignment and tabling Items 14 C and F and 15 A and adding Agenda Publication Date and Deadlines to New Business. Motion Vice Chair Cruz so moved. Vice Chair Cruz moved to table Item 14 C. Board Member Turkin seconded the motion. The motion passed unanimously. Motion Vice Chair Cruz moved to table Item 14F. Board Member Turkin seconded the motion. The motion passed unanimously. Motion Board Member Hay moved to table item 15 A. Vice Chair Cruz seconded the motion. The motion passed unanimously. Motion Vice Chair Cruz moved to add to New Business Publication Date and Deadlines. Board Member Board Member Hay seconded the motion. The motion passed unanimously. 6. Legal Kathryn Rossmell, Board Counsel, welcomed the new Board Members. No report was given. 7. Informational Items and Disclosures by Board Members and CRA Staff: A. Disclosure of Conflicts, Contacts, and Relationships for Items Presented to the CRA Board on Agenda Board Member Turkin disclosed he spoke with Nick Rojo briefly regarding 14 F. Board Member Hay had no disclosures. 2 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 Vice Chair Cruz got a call from Nick Rojo. Chair Penserga got call from Jeff Burns of Affiliated. 8. Announcements and Awards A. Boynton Beach CRA FY 2020-2021 Financial & Annual Report Thuy Shutt, Executive Director, stated for this meeting, staff has provided more history and backup for the new members. She advised this item is the Annual Report, which they have to publish. This year, the report is also available on the website and as a hard copy, which shows where the funds are being spent. It is a user-friendly document. Staff is required to furnish the report to the CRA Board, City and County Commissions. It also includes the financials and their audit for the fiscal year ending September 30, 2021. B. Rock the Plaza at One Boynton on April 23, 2022 from 5:00 p.m. to 8:00 p.m. Mercedes Coppin, Business Promotions and Events Manager, announced the free event on April 23rd at the One Boynton Shopping Plaza on the northwest corner of Woolbright Road and Federal Highway. The event will feature live music, family friendly games and activities, and food and beverages available from the businesses in the plaza. Parking is available in the One Boynton Plaza. Special Boynton Beach Bucks will be available. Vice Chair Cruz queried how the public can obtain the Boynton Beach Bucks, which Ms. Coppin explained is tied to a survey they complete. The Bucks are redeemable at participating restaurants as contained on the voucher. This is our way to promote local businesses. It makes the services and good available in the area. 9. Public Comments Chair Penserga stated Public Comments is for items not on the agenda and the public can speak on agenda items when they are heard. Public Comments are limited to three minutes but the Board can reduce that amount and will announce it prior to Public Comments. The public will need to state their name and address for the record. James Martin, Florida Technical Consultants, 533 E. Ocean Avenue, congratulated the new board. They are a small engineering firm that does a lot of high. They provide technical training and have they trained a lot of city staff. They have strong credentials. He advised they like Boynton and want to stay. When the property was purchased he requested they not be evicted. He was told to approach the Board after the property was purchased, so he waited until the new Board was seated. He understood there is development occurring, and announced they want to stay as long as they can. The prior Board agreed not to renew or extend leases, but he stated it is hard to find a new spot in Boynton now. The business gives the City a lot of technical exposure and they would welcome any help to find the right spot and was still hoping to set up a training facility. 3 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 Ernest Mignoli, 710 NE 7th Street, Unit 407, in Harbour Hall Inlet Cove. He advised the 45-year old building sits directly on the water and stated salt water comes under their building almost every other day. He stated to the Board, for the last year and a half, he lived here, they have not returned one email or come out once even when the property is under three feet of salt water, flooding the foundation like Surfside. He thought it was interesting Board Member Hay, representing District II, does not return emails. With all that goes on in District Il, he does not talk to anyone, he won't come out, he prevents the building department from coming out and writing violations. He sits up there and makes deals. Mr. Mignoli worked in a lot of corrupt places, and he did not think Florida was as corrupt as where he came from, but within counties and municipalities, it is as bad or as worse as New Jersey. It is his opinion Boynton Beach is very bad. They are working a lot of cases in New York. The deputy governor of New York got arrested in New York for accepting funds to get election. Each time he makes comments about elections and board and city managers and mayors, they go after him and anyone that agrees with him, by sending the police to harass him, they do not respond to emails and then work in their little group when everyone knows who is helping who, were the money is coming from. You need a serious investigation and especially of this past election, just like New York. Anitra Burgess, 504 NW 11th Avenue, received funds from the SHIP program, she emailed all on the board. She did not get a response. She was a victim of the drive buy shooting at her home. Her window was shattered her son thought they were under attack. They way her house sits, the entire east side of the house is vulnerable. This occurred on Tuesday April 5. Saturday on 4:40, she ran out of her bed again due to a shooting. She asked what does she has to do to try to leave the home, she has to pay back the funds given, equity, and she is stuck in her own home. She wants assistance how to find another home for her and her son. Melissa Hollis 514 NW 12th Avenue, is one block over from Ms. Burgess and the same thing happens. She is sick of it. She has a 10-year old who cannot go outside. She wants to sell her house and she does not feel safe. Every time you turn around there is a shooting. She asserted the Boynton Police do not care. She grew up and lives in the community. It needs to stop. Chair Penserga requested Sergeant Diehle obtain Ms. Burgess's contact information to follow up. There were no speakers on line and no one else coming forward, public comments was closed. 10. CRA Advisory Board A. Pending Assignments 1. Review of Commercial Properties within the CRA Area 4 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 2. Consideration of Using the CRA Owned Property Located at 401 E. Boynton Beach Boulevard as a Welcome Center B. Reports on Pending Assignments The advisory Board did not have a quorum so no report was given. Ms. Shutt explained this is fairly rare. The Board has seven members with four needed for a quorum. The new members got notified too late. 11. Consent Agenda A. CRA Financial Report Period Ending March 31, 2022 B. Approval of CRA Board Meeting Minutes - March 9, 2022 C. Approval of Commercial Property Improvement Grant Program in the Amount of $25,000 for Service First Processing, Inc. located at 420 W. Boynton Beach Boulevard D. Approval of Commercial Rent Reimbursement Grant Program in the Amount of $15,000 to Service First Processing, Inc. located at 420 W. Boynton Beach Boulevard E. Approval of Extension Request for the Commercial Property Improvement Grant Program for Advantage Physical Therapy LLC d/b/a Apex Network Physical Therapy #39 located at 906 S. Federal Highway, Suite Motion Vice Chair Cruz moved to approve the consent agenda. Board Member Turkin seconded the motion. The motion passed unanimously. 12. Pulled Consent Agenda Items None. 16. Old Business (Heard out of order) A. Discussion and Consideration of a Third Amendment to the Purchase and Development Agreement between the CRA and South Florida Marine Located at 711 N. Federal Highway Ms. Shutt stated the Board previously approved this and this gives the Board the opportunity to look at the final language. The applicant owns and operates marine boat sales. They were given $50K for job creation to hire part and full-time employees. By hiring new employees, they could draw down a certain amount of money. Their previous request was due to the pandemic and lack of qualified people, they were slow 5 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 in getting the job filled. They wanted to draw down funds to reward their existing employees. The Board stated it was not appropriate as the funds were for job creation and the Board agreed not to limit it to time certain which was November 2022. The Board approved they could hire an employee and get a percentage of the funds up front as opposed to receiving them on the back end. The document to be approved is the revised agreement but there was no termination date. The request is to have a termination date. The Woods requested the termination date be next fiscal year of September 30, 2023. Staff has no objection to the date change or adding the termination date. Motion Board Member Turkin moved to make this third amendment as presented, the final extension changing the final termination date of September 30, 2023, and authorize the Chair to sign the agreement after legal review to prevent future extensions. Board Member Hay seconded the motion. The motion passed unanimously. Vice Chair Cruz asked if the job was posted and what jobs are they claiming to create. Ms. Shutt explained $50,800 is to create 12 full-time jobs or 24 part-time jobs or a combination thereof. It was agreed they would post and recruit as necessary, but information documenting their attempts to fill the vacancies was submitted. Staff can request a report t when they request reimbursement. Some type of update would be beneficial. A report is not a requirement of the agreement. It is important they conduct due diligence. Staff would request a status when the Woods request reimbursement. There was consensus on this. B. Discussion and Consideration of a Second Lease Extension Request for Mr. Freddie Brinley Located at 517 1/2 East Ocean Avenue, Apartment#5 Ms. Shutt presented the above item and stated this unit is part of the purchase of the 522 E Ocean Avenue formerly owned by the Oyers and is one of five remaining units in the building. Mr. Brinley previously received a 90-day extension. His lease expired in January and got another extension which expired in April. Mr. Brinley is current with his rent. One reason they have a concern with extending the lease longer than needed, is the building is non-conforming and there are issues. They will eventually demolish the building, but it would not be horrible to extend the lease, but it is up to the Board. Board Member Hay asked what the liability was. Ms. Shutt explained the means of egress is non-compliant as there is no direct pathway to the ground, except to walk on the roof to a stairway down to the alleyway. The CRA does not want to retrofit the building as it will be demolished, but there is no safe exit according to today's Code. Board Member Hay thought they could ask for some type of waiver of any injury and would favor an extension on those grounds. Without it, another 90-day extension is problematic. Attorney Rossmell explained she can look into drafting a waiver, but there are restrictions on waiving habitability of buildings and it is not always possible. She would have to research further, but she did not think she could alleviate any liability to the 6 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 CRA. Board Member Turkin asked if Mr. Brinley would waive liability. He is a plumber and has worked on the building but he cannot find any code that is broken. He thought the building was solid for another 10 years, but would waive liability. Mr. Brinley is having trouble finding another place. What was affordable to him was in bad neighborhoods, the places are outrageous and there are slum lords. He did not want to move back to Kentucky. Mr. Brinley advised he is a veteran. Rents pretty much doubled. Vice Chair Cruz empathized with the situation and acknowledged it is tough to find a place. She wanted to help but did not want the liability. She suggested giving a 60-day extension. Mr. Brinley explained there is a benefit for him remaining in the unit as there is a view over the parking lot from his unit and he could see if there was any type of crime or if anyone was hurt. He also cleans up the park. Vice Chair Cruz suggested a 60-day window as a final extension. Board Member Turkin questioned the difference in liability between 60 days and 90 days. The lease had expired on the 5t" and he was in the building since January. Motion Board Member Turkin moved to provide a 90-day extension. Board Member Hay would support an extension if Mr. Brinley signed a waiver. Board Member Turkin agreed with the waiver. Board Member Hay seconded the motion. Vice Chair Cruz noted Legal explained there is no permissible guaranteed way to prevent the CRA from having liability. Attorney Rossmell confirmed it as correct, but agreed to look into what is available and bring it back to the CRA. The lease was extended to July 5t" as the final extension. Vice Chair Cruz requested Mr. Brinley's contact information as the Palm Beach County Community Services as they have a department for veterans. She agreed to provide his contact information to the manager there. Mr. Brinley explained he also contacted the VA and they are way behind and he is at the bottom of the list. Vote Vice Chair Cruz seconded the motion. The motion passed unanimously. C. Discussion and Consideration of Letters of Intent for the Cottage District Infill Housing Redevelopment Project. (TABLED 12/14/21) This item remained on the table. D. Approval of the Third Amendment to the Purchase and Development Agreement and First Amendment of the Interlocal Agreement between the CRA and City for the Ocean Breeze East Project 7 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 Ms. Shutt explained as part of the dev of the project. Centennial was offered the tax credit award with the state which requires a local match of$567,500. The CRA agreed to it originally, but when securing the Low-Income Housing Tax Credit Award, they felt it was better coming from the City. After that, the CRA so they entered into an interlocal agreement with the city. Project was developed and occupied since December 2020. This was a request from staff to ensure they amend some of the agreements executed in the past to allow the CRA to pay the City back per the Interlocal Agreement they have to amend the original agreement and the first amendment because those documents had different obligations. This makes it whole. Information was forwarded to Centennial who had no objections to it. The first amendment to interlocal has to go to the City Commission. Attorney Rossmell suggested making it subject to legal approval so they can make any minor adjustments needed prior to signature. Chair Penserga requested a motion to approve the third amendment to the Purchase and Development Agreement for Ocean Breeze East and allow the Board Chair to execute subject to final legal review. Motion Board Member Hay so moved. Board Member Turkin seconded the motion. The motion passed unanimously. Chair Penserga requested a motion to approve the first amendment between the City and the CRA for payment of local government contribution under Florida Housing Finance Corporation for Ocean Breeze. Motion Board Member Hay so moved. Board Member Turkin seconded the motion. The motion passed unanimously. E. Consideration of Approval of 500 Ocean Performance Audit for Year Ending December 31, 2021, for Compliance with the Direct Incentive Funding Agreement Vicki Hill, Finance Director, stated according to the DIFA for 500 Ocean, this would be their 3rd year out of 10 years. Before there was Sky Boynton LLC and it was sold to Avante and they have complied with the terms of the DIFA. Avante will receive $464,617 and CRA will get $154,872. Ms. Shutt explained the DIFA is the Tax Increment Funding, which The CRA helps development to development the way it was needed. At that time, they were encouraging commercial mixed-use and the funds help offset the cost. For the first four years they are reimbursing 75% of the tax being paid. 8 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 Motion Board Member Vice Chair Hay moved to approve performance audit as submitted and authorize release of DIFA payment number three in the amount of $464,617 to Avante Residential 500 Ocean. Board Member Turkin seconded the motion. The motion passed unanimously. F. Update of Negotiations between the CRA and Affiliated Development, LLC for the 115 N. Federal Hwy Infill Mixed Use Redevelopment Project (i ABS D 03/09/22) This item remained on the table. 14. CRA Projects in Progress A. Neighborhood Officer Program 1 st Quarter Report for FY 2021-2022 Sgt. Diehl congratulated the new Board Members and explained this is the first quarter report. He reviewed National Night Out was rained out in August and was held in October at Barrier Free Park where they conducted community outreach. Other activities were blood donations, Shop with a Cop. During the holidays they get a lot and donate a lot, filling up swat truck, and carts for people in District II or homes identified buy guidance counsellors that need a little extra. They conducted homeless outreach at the Boynton Beach Mall, held the annual Gobble to you Bobble and gave away 150 turkeys with their partner at Paradise Windows and Doors at the Carolyn Sims Center. Vice Chair Cruz asked what the NOP Program was, which Ms. Shutt explained. Sergeant Diehl advised it is about building community trust in the community. When COVID hit, they reengineered the program to do more with business owners. They did more community outreach with business and slightly less with youth as a multi-pronged approach to build relationship in the community. They are outfitted with two full officers and one civilian employee. Sergeant Diehl explained how Shop with a Cop works. Ms. Shutt explained the CRA has a budget for the program and explained where the funds are spent. Board Member Hay participated in a Shop with a Cop and stated it was very touching and anexcellent program he will continue to participate in and support. Usually, the Officer donates out of pocket. B. CRA Economic & Business Development Grant Program Update Bonnie Nicklien, Grants and Project Manager, gave an update. There is $312,577 remaining this year. She has lot of businesses calling and several applications pending in May. The new Business Tax Receipt list was attached. Staff forwards the grant 9 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 information to them so the grants are available and so they know there are goods and services in the construction industry if the need to hire in the CRA area. Chair Penserga noted the following items were informational items. C. 6th Annual Boynton Beach Blarney Bash Recap D. Rock the Plaza at Ocean Plaza Recap E. Social Media & Print Marketing Update F. Social Media Outreach Program 2nd Quarterly Report (January - March 2022) G. MLK Jr. Boulevard Corridor Commercial Redevelopment and Affordable Multi-Family Rental Apartment Project (dba Heart of Boynton Village Apartments) Update Tim Tack, Assistant Director, reviewed the development, located on MILK Jr. Boulevard just east of Seacrest, had its ground breaking with CRA staff, community stakeholders, and Centennial Management. The development will provide multi-family rental units and 8,259 square feet of leasable space. The site has been cleared, and form boards for the footers were done. Images of the progress were viewed. He noted the project is moving expeditiously. Board Member Hay wanted monthly updates because the project is exciting to him and the community after watching the property sit vacant for decades. It will be an outstanding project like the other one constructed by Centennial. Ms. Shutt advised per the original development agreement, the jobs report will be provided by June 1St, and the report for the CRA commercial area is due in July. She intends to provide both reports at the July meeting and further advised there are a lot of local merchants interested in relocating to the building. The price per square foot is $22 maximum square foot plus the CAM at that price for 10 years, but in years six through 10, there will be minor cost of escalation of 3%. Palm Beach County retail space is at $30 a square foot. Staff will forward applications to Centennial who requires businesses to be in business for one year and be a local business. This is building wealth in the community and they can take advantage of the grants. Board Member Turkin noted Florida Technical Consultants was looking for a new place to locate. Ms. Shutt explained all grants are available local businesses; however, Mr. Martin would need to fill out an application. It is first come first served. 14. Old Business These items were heard earlier in the meeting. 10 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 15. New Business A. Discussion and Consideration as to the Policy Status for the Terms of the Home- buyer Assistance Program Grant Agreements This item was not addressed. B. Consideration of a Waiver of the Right of First Refusal for the Property Located at 508 NW 12th Street, Boynton Beach, FL Ms. Shutt explained this item had several amendments. This program was developed to help homeowners obtain homes. There were several amendments. The subsidy from the CRA was $47K for her family to occupy the property. The purchase price was $157,926. A refinance was allowed and currently the amendment allows Ms. Hogkins to sell if she has an eligible home buyer, which she has. If she did not bring in an eligible buyer, she would pay a reduced amount of$15K. Staff reviewed the information and the new buyer is qualified. The Board needs to give approval of a prior requirement that she notifies staff of a first right of refusal to purchase the property at a market price. The contract now is $355K. The Board needs to waiver the right of first refusal. If approved, Legal can draw up a satisfaction for mortgage. Lasendra Hoggins Wilson, 508 NW 12th Avenue, explained she attended the meeting today to get the waiver from the CRA so she can proceed with her closing that was extended twice. Chair Penserga supported it as did the prior Board. Motion Board Member Hay moved to waive the right of first refusal. Board Member Turkin, seconded the motion. The motion passed unanimously. C. Consideration of Fiscal Year 2021-2022 Budget Amendment for Unreserved Fund Balance Ms. Hill explained they had their 2021 audit and after it was completed, the Board could reallocate $1.1 M. Staff has requested $500K be put towards the Boynton Beach Boulevard Streetscape Improvement project and the remaining balance go to property acquisition. The Board will be purchasing the Post Office at 217 N Seacrest in February 2023 and they will need the funds to secure that building. It is under contract and the CRA already paid the deposit. Motion Chair Penserga stated the motion was to approve budget amendment resolution 22-01 for the reallocation of unassigned fund balance of in the amount $1,136,316 of the general fund the project fund line item 0258200-406 for $500K and 02-582-00-401 11 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 $635,316. Vice Chair Cruz so moved. Board Member Chair seconded the motion. The motion passed unanimously. This project is the Boynton Beach Boulevard Complete Street project. Staff applied for a FDOT Grant to narrow the lanes to provide additional sidewalk area and traffic calming measures. This amount is the local obligation as FDOT will not pay for additional items such as patterned sidewalks. The funds will cover decorative pavement, gray concrete, lane changes, but not the decorative items. Board Member Hay did not want the street to be difficult to drive through. This was already in the works and staff got $2.9M from FDOT. It is a five-year period. The right- of-way remains the same, the width is the same but a typical cross section is 11 feet on north side adjacent to a nine-foot sidewalk. Right now, they have six-foot sidewalk. The extra footage is for a wider walkway. It is really a shared use path always in the right of Way. D. Discussion and Consideration of CRA Workshops Ms. Shutt suggested several dates for the Board to have informal discussion for one to three hours to become informed of redevelopment get up to speed on a lot of what they would look at this year. The second workshop would be on redevelopment financing and budget after the CRA Basics and the July 26th workshop would have a discussion on CRA Affordable housing. Staff was suggesting having the workshop on non CRA or City Commission meeting weeks. The workshops have to be noticed and the public can attend but not participate. The CRA Advisory Board will be invited to attend. Each speaker would have about two three hours for speakers and Q & A and if continuing on lunch, have an hour for lunch. It would be about $1 K. and the workshops would be videotaped. Board Member Turkin suggested consolidating two of the workshops. If consolidated, it would have to be on a weekend. After discussion, Saturday, April 30th at 9 a.m. to noon followed by lunch and the second session, and May 21 st from 9 a.m. to noon. There was agreement to allow Ms. Shutt to have some flexibility in the order of the speakers. E. Consideration of a Temporary Policy for Vacation and Sick Leave Pay-Out Ms. Shutt explained this is a temporary allowance for the executive director to allow for payout of 80 hours for this year and next year provided the employee has earned vacation and meets the requirements. With the rising cost of living, management wants employees to cash out sick or vacation if they comply with eligible hours. Board Member Turkin would see this in the private sector. The City was able to do so, but the CRA policy is different. They will revisit it again next year. Motion Board Member Hay moved to approve. Vice Chair Cruz seconded the motion. The motion passed unanimously. 12 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 12, 2022 F. Agenda Publication Date and Deadline. Chair Penserga noted the agenda is sent a few days before the meeting and it is 2K pages. He supported having the agenda available one week prior to the meeting so members and the Board can review it in advance. Ms. Shutt stated materials will be due two weeks before the meeting. They will be strict on the deadline, but there will be emergencies. There was agreement this was good for everyone, staff, Board Members and the public. There was agreement and staff was directed to bring back a formal policy document. 16. Future Agenda Items A. Discussion and Consideration of a Purchase Agreement from Habitat for Humanity of South Palm Beach County for the Boynton Beach CRA-owned Properties located at 402 and 404 NW 12th Avenue B. Discussion and Consideration of Purchase Agreement of Cherry Hill Mart C. Consideration of the Revised CRA Human Resource Policies and Procedures Manual D. Discussion and Consideration of Request from the USPS to Remain at the CRA-owned Property Located at 217 N. Seacrest Boulevard Post-Closing E. Discussion and Consideration of the CRA-owned Property located at 401- 407 E. Boynton Beach Boulevard F. Presentation by Palm Beach County Housing Authority Properties within the CRA District 17. Adjournment There being no further business, Board Member Hay moved to adjourn. Vice Chair Cruz seconded the motion. The motion passed unanimously. The meeting was adjourned at 7:06 p.m. f Catherine Cherry Minutes Specialist 13 BOYNTO C D m'suBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 CONSENT AGENDA AGENDAITEM: 11.C. SUBJECT: Approval of 90-day Extension for the Commercial Property Improvement Grant for The Coffee and Ale Exchange, LLC d/b/a Bond Street Ale and Coffee Located at 400 N. Federal Highway, Unit 12 SUMMARY: At the meeting held on March 10, 2020, the CRA Board awarded a Commercial Property Improvement Grant to The Coffee and Ale Exchange, LLC d/b/a Bond Street Ale and Coffee, a brand new all-day restaurant and lounge, in the amount of $50,000 for eligible improvements for the interior buildout of their property located at 400 N. Federal Highway, Unit 12, Boynton Beach, FL 33435 (see Attachment 1). Per the grant guidelines, the applicant has 180 days from permit approval to complete their project and submit for reimbursement. The project received their permit on April 1, 2021. The applicant had until September 28, 2021, to complete the project and submit for reimbursement. On October 6, 2021, Shawn Spence, contractor for the property sent an email requesting the 60- day administrative extension until November 28, 2021, which was approved by staff (see Attachment 11). On December 13, 2021, CRA staff received a second request for an additional extension in order to complete construction on their project and submit for final reimbursement due to delays with their improvements. At their January 10, 2022 meeting, the CRA Board approved this 90-day extension (see Attachment 111). On April 26, 2022, CRA staff received another request for an extension in order to complete construction and submit for final reimbursement (see Attachment IV). This request is due to a delay with a broken HVAC motor fan which is delaying final inspections for mechanical, electrical, fire and plumbing and ultimately, their building final. They hope to have the replacement by the first week of May. There was a partial reimbursement of $32,000 made on May 20, 2020, for eligible improvements completed to-date, leaving $18,000 remaining in grant monies. The project is active and work is being done on a regular basis. The applicant is seeking CRA Board approval for an additional 90-day extension to complete their project and submit the required documents for reimbursement. FISCAL IMPACT: FY 2018-2019 Budget Project Fund, line item 02-58400-444 - $50,000 CRA P LAN/P ROJ ECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approve the 90-day extension to July 11, 2022, for the Commercial Property Improvement Grant for The Coffee and Ale Exchange, LLC d/b/a Bond Street Ale and Coffee located at 400 N. Federal Highway, Unit 12, Boynton Beach, FL 33435. ATTACHMENTS: Description D Attachment I - Location Map D Attachment II -60-day Request D Attachment III -90-day Extension Approval D Attachment IV -Second 90-day Request 1/29/2020 PAPA Maps DOROTHYJACKS Qy 2 CFA AAS t,9 1.Beach 1-my Property Appra ser .I uu� i G n �ll�` s�� X M)l�faLL: Search by Owner,Address or r s� 9 r ��1 ��> S 1 View Property Record pt F Owners t rm F4 E.4#h•Au€. NE hilt".`A.ve MICSAN LLC �� s, 'WI Property Detail 400 N FEDERAL HWY N212 (h,unci> lity BOY NTON BEACH ~cal No 08434522470120212 r f CASA COSTA CONDO ,r,tl=, 26654 (''ge 599 r--,la Di,, FEB-2014 i 304 INDIAN TRCE APT Ph iln�T 297 —ot" FORT LAUDERDALE FL 7 33326 2996 U,eTyp, 0400-CONDOMINIUM + rl bx Tot,,l - <.��i,�tt r ,i 585 t Sales Information E i Sales Date Price }yllf Y r � `? FEB2014 158000 ;elm« ,r,` slr � Ali DEC-2012 2131800 Appraisals Tax Year 2019 ql °j h Imploai my b , $109,000 1} )� goy b $0 TotA Pl-t4„.tVMI— $109,000 �,� �� 1 A i�_ rk��ps � � �1� All values are as ofjanuary 1st each year tiN i I Assessed/Taxable values 1. Tax Year 2019s; Valu" $109,000 x $0 .4 T-,x,,bI, ~tali„ $109,000 iF- _ t 9 � ��.";�}s" �• r Fa,� . Ott �� 1{t tf'a E•Ba nt©n Beach Bloc! s t� i t� , ,r ,Bo nt�n Beac Taxes ..R 3oyntvr tSeachBlvd L �(,�1i(r +a`s �; liStS�lt 1?s{3 �r :-s'ii- �y3;`�iN1'l.lti3lt�lsfiA)��lt t.Si��tl�i;��{tsl>iri'{`,i 1�1}a t�F !{�sr1i+}''1}t��G ,•a 1r2_ 4��. '.�� „1�:�- �}s til [ti£�$115� ;i Tax Year 2019 r St aA 'r, a 1)r -rr,rt,,lor,�.m $2,355 Non A,tt,,k,r;m $217 Totalt.ax $2,572 https://maps.co.paIm-beach.fl.us/cwgis/papa.htmI?qvalue=08434522470120212 1/1 Curfman, Vicki From: jpcooksey2@aol.com Sent: Wednesday, October 6, 2021 4:56 PM To: Curfman,Vicki;4supremebuilders@att.net Cc: philipvanegmond4@gmaiI.com; Nicklien, Bonnie; Shutt,Thuy; Utterback,Theresa Subject: Re: Requesting an Extension for project - 615 E Boynton Beach Blvd - Unit CU12 Casa Costa - Permit 18-5525 - Thank you! James Cooksey -----Original Message----- From: Curfman, Vicki <CurfmanV@bbfl.us> To: Shawn Spence <4supremebu ilders@att.net>;jpcooksey2@aol.com <jpcooksey2@aol.com> Cc: Philip Van Egmond <philipvanegmond4@gmail.com>; Nicklien, Bonnie <NicklienB@bbfl.us>; Shutt, Thuy <ShuttT@bbfl.us>; Utterback, Theresa <UtterbackT@bbfl.us> Sent: Wed, Oct 6, 2021 3:56 pm Subject: RE: Requesting an Extension for project-615 E Boynton Beach Blvd - Unit CU12 Casa Costa- Permit 18-5525- Good Afternoon Mr. Spence and Mr. Cooksey, In response to your grant reimbursement extension request, as per page 4 of 17 of the Commercial Property Improvement Grant Program Application (see highlighted below), the CRA is able to grant you a one-time 60 day extension. On May 20, 2020, you received a partial payment of$32,000. You will be submitting documentation for the remainder of the $50,000 grant equal to or less than $18,000. As per Bonnie Nicklien's email to you on September 16, 2021, your deadline to complete your project and submit for reimbursement (project timeline for the grant reimbursement was 180 days from permit approval) was October 23, 2021. Your new deadline for project completion and to submit for reimbursement will be Wednesday, December 22, 2021 (60 days from October 23, 2021). Please let me know if you have any questions. Thank you. Have a great week! Vicki Vicki Curfirian dmiinistrati e Assistant Boynton Beach Con-m-wnity RedeveIopmient Agency 100 E. Ocean Ave. I Boynton Beach, Florida 3435 561-600-9093 1 561-737-3258 1 CurfinonV@bbU.ua | htp://vvvvw.boyntonbeachcra.com America's Gateway tothe Gulfstream Please be advised that Florida has a broad public records law and all correspondence to n-ie via en-lail n-,Iay be subject to disclosure.Under, Florida records law, en-mil addresses are public records.Therefore, your,e-n-iail con-in-wnication and your,e-moi| address moybesubject topublic disclosure. From: Shawn Spence <4supnemebui|ders@aft.net> Sent: Wednesday, October G. 2O21 12:02 PM To: Cur8nan. Vicki <CurfmanV@bbU.us> Cc: Philip Van Egmnnd <phi|ipvanegmnnd4@gmai|.cnm> Subject: Fw: Requesting an Extension for project-615 E Boynton Beach Blvd - Unit CU12 Casa Costa - Permit 18-5525 Hi Vicki, Due to the COVID pandemic, manufacturing plants had decreased their production which caused a shortage in supply of building materials. Materials that would have arrived in 2 weeks now takes 3-4 months and this has affected our scheduled completion date. VVeare hereby requesting anextension nfG'8weeks for completion. Shawn Supreme Builders Group, LLC 3801 NUniversity Drive, Ste 312 Sunrise, FL33351 Tel. No. 054'2OO'O373 Fax. No. 054'704'8G71 Email: ----- Forwarded Message --' Fnmnm: 8hmwn8penms To: < > Cc: Philip Van Egmnnd Sent VVednesday, October 6, 2021. 11:55:35 AM EDT Subject: Requesting an Extension for project-615 E Boynton Beach Blvd - Unit CU12 Casa Costa - Permit 18-5525 Hi Bonnie, Due to the COVID pandemic, manufacturing plants had decreased their production which caused a shortage in supply of building materials. Materials that would have animsd in 2 weeks now takes 3'4 months and this has affected our scheduled completion date. VVeare hereby requesting anextension nfG'8weeks for completion. Shawn Supreme Builders Group, LLC 3801 NUniversity Drive, Ste 312 Sunrise, FL33351 Tel. No. 054'2OO'O373 Fax. No. 054'704'8G71 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida January 10, 2022 12. Consent Agenda A. Approval of CRA Board Meeting Minutes - December 14, 2021 REVISED B. CRA Financial Report Period Ending December 31, 2021 C. Approval of 90-day Extension for the Commercial Property Improvement Grant for The Coffee and Ale Exchange, LLC d/b/a Bond Street Ale and Coffee Located at 400 N. Federal Highway, Unit 12 D. Approval of Commercial Property Improvement Grant Program in the Amount of$25,000 for Alberta and Octavia Bell for the Commercial Property Located at 130 E. MLK Jr. Boulevard Motion Vice Chair Hay moved to approve the Consent Agenda. Board Member Penserga seconded the motion. The motion passed unanimously. 13. Pulled Consent Agenda Items None. Old Business 16. A. Discussion and Consideration of a Development Agreement between the CRA and Centennial Management Corporation for the Commercial Component of the MLK Jr. Boulevard Corridor Mixed-Use Housing Project (Heard out of Order) Ms. Shutt stated the agreement was presented to the Board and Centennial wanted to convert this to a loan agreement, but since then changed their mind. They would like to pursue the funding agreement as presented. Staff made progress with the language negotiations and they provided the latest draft to the Board. Elizabeth Roque, Centennial Management, stated after reviewing the taxes, they decided they do not need a loan and they are fine with the reimbursement process. The document looks good. Ms. Shutt explained this is the mixed-use project they were waiting for using the 9% Tax Credits, with 124 affordable multi-family rental units adjusted to the Boynton Beach Area Median income and having 8,500 square feet of neighborhood serving units, one bay will be for the Neighborhood Officer Program. The commercial piece will be built and funded by the CRA and Centennial will help them find tenants. Rent is fixed at $22 per square foot for 10 years, and the fifth year, there could be a 3% CPI increase. They hope additional funding will help preserve quality. The development agreement provided to the Board has the reimbursement funding. Centennial will buy the needed items and present the CRA with receipts and the CRA 7 Nicklien, Bonnie From: Shawn Spence <4supremebuilders@att.net> Sent: Tuesday,April 26, 2022 12:20 PM To: Nicklien, Bonnie Cc: jpcooksey2@aol.com; Philip Van Egmond Subject: Re: Requesting an Extension for project - 615 E Boynton Beach Blvd - Unit CU12 Casa Costa - Permit 18-5525 - Hi Bonnie, Philip work is part of the scope of work which he has to complete in order for us to get Building Final. We are waiting on the Motor Fan from the Manufacturer which should arrive by the first week of May 2022. Once the fan is installed, we can schedule Final Mechanical, Electrical, Fire and Plumbing Inspections. Please go ahead and grant us the 90 days but we should be done long before that. Regards, Shawn Supreme Builders Group, LLC 10220 NW 50th Street Sunrise, FL 33351 Tel. No. 954-200-0373, 954-794-8671 Email: 4supremebuilders@att.net On Tuesday, April 26, 2022, 09:40:28 AM EDT, Nicklien, Bonnie <nicklienb@bbfl.us>wrote: Thank you, Shawn. Does any of Phillip's work have a role on the inspection timeline? Or the motor fan is the only thing delaying inspections. We need a realistic timeline on this request so please consider all factors that may affect the final inspections and build in a buffer. Would 90 days be more realistic? Thank you, Bonnie 1 BonnieNicNien Grants and Project Manager, Boynton Beach CommunityRedeve|opmentAgency 1OOE. Ocean Ave. Boynton Beach, Florida 33435 � ��1-�UO-�U�U | �� 561-737-3258 ' m�� NicNienB@bbf|.ua http://vvvvvv.boyntonbeachcra.com America's Gateway tothe Gulfstream Please be advised that Florida has a broad public records law and all correspondence to n-ie via en-lail n-,Iay be subject to disclosure.Under, Florida records |ovv, email addresses are public records.Therefore, youre-moi| communication and youre-moi| address moy be subject to public disclosure. From: Shawn Spence <4supnemebui|ders@att.net> Sent: Monday, April 25. 2O223:35PK8 To: Nick|ien. Bonnie <Nick|ienB@bbO.us> Cc:]pcnnksey2@an|.cnm; Philip Van Egmnnd <phi|ipvanegmnnd4@gmai|.cnm> Subject: Re: Requesting an Extension for project-615 E Boynton Beach Blvd - Unit CU12 Casa Costa - Permit 18-5525 ' Hi Bonnie, Philip has a lot nfwork tn complete with regards to his furniture. The only inspections left to be done are; Final E|eotrica|, Final P|umbing, Final K8echanica|, Final Fine and Final Building. The Motor Fan for the A/C Unit is not working. Another Motor Fan has already been ordered. We cannot schedule some of these inspections until the Motor Fan is installed and in good working condition. We anticipate the project to be completed within two months from the date hereof. |fyou have any questions, please dnnot hesitate tncall meat054'588'G40O. Regards, Shawn z Supreme Builders Group, LLC 10220 NVV5Oth 8tnsed Sunrise, FL33351 Tel. No. 054'2OO'O373. 054'704'8G71 Emai|: 4supnemebui|ders@aftosd OnFriday, April 22. 2O22. O0:10:35AK8EDT, Nick|ien. Bonnie <nick|ienb@bbUus>vvrote: Good Morning All, Please let meknow the status ofthe inmpectionm/TCO. The deadline tomake an extension request is next Friday, April 29th. Please let me know at your earliest convenience the status ofthe inspections. If another extension is needed, please send an email to me addressing the CRA Board for another request. We do not want to go back again for another request so please consider how much time you will need to wrap up the project and mubmitforneimbunsement. Thimemai|vviUbepro\idedambanh-uptotheBoardadtheirMay1OmmmetinU. | look forward tohearing from you, Bonnie BonnieNicNien � Grants and Project Manager, Boynton Beach CommunityRedeve|opmentAgency 1OOE. Ocean Ave. I Boynton Beach, Florida 33435 1 561-600-9090 561-737-3258 jj� Q|ck||enB@bbMLUS http://wVVVV.boyMtonbeachcra.corO America's Gateway tothe Gulfstream Please be advised that Florida has a broad public records law and all correspondence to n-ie via en-lail n-,Iay be subject to disclosure.Under, Florida records law, en-iail addresses are public records.Therefore, your,e-n-iail con-in-wnication and your,e-moi| address moybesubject topublic disclosure. From: Shawn Spence <4supnemebui|ders@aft.net> Sent: Monday, April 11. 2O2212:17PK8 To: Nick|ien. Bonnie <Nick|ienB@bbU.us> Cc:]pcnnksey2@an|.cnm; Philip Van Egmnnd <phi|ipvanegmnnd4@gmai|.cnm> Subject: Re: Requesting an Extension for project- 615 E Boynton Beach Blvd - Unit CU12 Casa Costa - Permit 18-5525 ' Thanks Bonnie, VVowill let usknow when woreceive the TCO. Shawn Supreme Builders Group, LLC 10220 NVV5Oth Street Sunrise, FL33351 Tel. No. 054'2OO'O373 4 Fax No. 954-794-8671 Emai|: 4supnemebuik1ers@aft.nsd 0nMonday,April 11'2O22'11:64:O3 AM EDT,Nickhan,Bonnie<nickhonb@bbO.us>wrote: Thanks for you the update.Yes,let oumknow ossoon osyou hear something.And please let ouoknow ifyou donot hear anything this week. Iboukyoc, 8ouuio BonnieNicNien Grants and Project Manager, Boynton Beach CommunityRedeve|opmentAgency 1OOE. Ocean Ave. | Boynton Beach, Florida 33435 ��1-�OO-�O�O | �� 561-737-3258 . �� Q|ck||enB@bbMLUS http://wVVVV.boyMtonbeachcra.corO C3 91 America's Gateway tothe Gu|fstreann Please be advised that Florida has a broad public records law and all correspondence to n-ie via en-lail n-,Iay be subject to disclosure.Under, Florida records |ovv, email addresses are public records.Therefore, youre-moi| communication and youre-moi| address moy be subject to public disclosure. From:Shawn Spence<4suprornobui|dors@ottnot> Sent: Monday,April 11'2O229:49AM To: NicNion'Bonnie<Niddion8@»bbO.us> Cc:jpcooksoy2@ooicorn; Philip Van Egmond<phihpvonogmond4@gmoiicorn> Subject: Pvv: Requesting onExtension for project 616EBoynton Beach Blvd Unit CU12Casa Costa Permit 18-5525 Hi Bonnie, 5 We have submitted a TCO Application to the City of Boynton Beach and we have not yet received it. VVeshould receive it any time now. Asoon asit isreceived, wewill forward ittnyou. Regards, Shawn Supreme Builders Group, LLC 10220 NVV5Oth Etnesd Sunrise, FL33351 Tel. No. 054'2OO'O373 Fax. No. 054'704'8G71 Email: ----- Forwarded Message ----- From: " ' /o: < Cc: < Sent: Friday, April 8. 2O22. O3:42:22PMEDT Subject: Fwd: Requesting anExtension for project'G15EBoynton Beach Blvd ' Unit CU12Casa Costa ' Permit 18- 5525- Shawn, we need this by Monday, April 11, 2022 to get funded by Boynton Beach CRA. 8'5525'8hmwn. weneedthisbyK8nnday. Aph| 11. 2O22tngedfundedbyBnyntnnBeachCRA. Peter Cooksey -----Original Message----- From: To: < Sent: Fri, Apr 1. 2O223:O5pm Subject: Fwd: Requesting an Extension for project-615 E Boynton Beach Blvd - Unit CU12 Casa Costa ' Permit 18'5525 -----Original Message----- From: To: philipvanegmond4namaii.com < Sent: Fri, Apr 1. 2O223:O3pm Subject: Fwd: Requesting an Extension for project-615 E Boynton Beach Blvd - Unit CU12 Casa Costa ' Permit 18'5525 -----Original Message----- From: Nick|ien, Bonnie To: Shawn Spence Cc: ; Philip Van Egmnnd Sent: Thu, Mar 3. 2O2211:O4am Subject: RE: Requesting an Extension for project-615 E Boynton Beach Blvd - Unit CU12 Casa Costa- Permit 18-5525- Thank you for the update, Shawn. The CRA grant is only tracking and reimbursing the project between you and Peter. We will process the reimbursement and close out the grant file once you receive aTCO orCO and also provide aFinal Release ofLien. Any outstanding project items that the tenant is taking care of will not be tracked by the CRA. In the meantime, please begin gathering the following for the grant reimbursement: 6 • TCO orFinal CO • Final Release ofLien from Supreme Builders • Final Paid Invoices with Change orders • Proofs ofpayments from Coffee and Ale Exchange toSupreme Builders totaling contract amount • After Photos • City of Boy ton Beach Business Tax Rg��e�it • Palm Beach County Business Tax Reg!gjLt • Digital After Photos |fyou have not applied for your BTRm | would highly suggest getting those applications inASAP! Please keep me posted on your inspections and progress towards aTCO/CO. |l|touch base in another couple weeks. Bonnie BonnieNicNien Grants and Project Manager, Boynton Beach Community Redeve|opmentAgency 100 E. Ocean Ave. | Boynton Beach, Florida 33435 � 561-600-9090 561-737-3258 7 BOYNTO C D wimBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 OLD BUSINESS AGENDAITEM: 13.A. SUBJECT: Discussion and Consideration of Letters of Intent for the Boynton Beach CRA-owned Properties located at 402 and 404 NW 12th Avenue SUMMARY: The Boynton Beach CRA (BBCRA) purchased the Palm Beach County Housing Authority property located at 404 NW 12th Avenue through an auction process for $66,000 plus a 10% premium for a total contract price of $72,600. 404 NW 12th Avenue is approximately 2,548 sq. ft. (25' x 100') and is located next to BBCRA owned property, 402 NW 12th Avenue (see Attachment 1). The BBCRA closed on 404 NW 12th Avenue on December 3, 2021 (see Attachment 11). The BBCRA has owned 402 NW 12th Avenue since October 12, 2007. It is a corner lot, approximately 2,992 sq. ft. The BBCRA paid appraised value for the property ($170,000) which, at the time of purchase, included a duplex(see Attachment 111). The duplex was later demolished. The required corner and interior side setbacks make it difficult to develop the property. The purchase of 404 NW 12th Avenue has added the necessary land area in order to construct a single-family home. On January 31, 2022, the CRA received a Letter of Interest from Habitat for Humanity of South Palm Beach County, Inc. (HFHSPBC) for both CRA-owned properties (see Attachment IV). HFHSPBC is requesting the transfer of title and ownership of the properties to construct a new affordable single-family home consisting of three bedrooms, two bathrooms, and a one-car garage. The CRA Board approved HFHSPBC's Letter of Interest at its March 9, 2022 CRA Board Meeting (Attachment V). If the CRA Board approves the sale and/or transfer of real property to another entity below fair market value, it must first publish a Notice of Intent to Dispose of Real Property in accordance with Florida State Statutes §163.380(3)(a). On March 18, 2022, a Notice of I ntent to Dispose of Real Property was published for the properties located at 402 & 404 NW 12th Avenue (Attachment VI). Any interested parties may submit a letter of interest/intent for the property within thirty (30) days of the publication date of the Notice of Intent to Dispose of Real Property. On April 18, 2022, the Faith Based Community Development Corp. (CDC) submitted a Letter of Intent for the properties located at 402 & 404 NW 12th Avenue (Attachment VI I). The CDC, is a non-profit affordable housing developer in Boynton Beach and is interested in purchasing the lots for$60,000. The lots would be used to construct an affordable single-family home. The CRA has successfully partnered with both HFHSPBC and the CDC in the past on the Ocean Breeze West and Model Block Projects. CRA Staff is requesting direction from the CRA Board pursuant to the CRA's LOI Policy (Attachment VIII). Under Florida State Statutes §163.380(2), if the CRA Board accepts any offer less than the fair market value City Commission approval will be required. FISCAL IMPACT: To be determined by the Board CRA P LAN/P ROJ ECT/P ROG RAM: 2016 Boynton Beach Community Redevelopment Plan - Heart of Boynton District CRA BOARD OPTIONS: As per the CRA's Letter of Intent (LOI) Policy (Attachment VI I I), the Board has options as summarized below: Option I - The CRA Board may select a Letter of Intent and direct the CRA staff and legal counsel to negotiate the terms and conditions of a Purchase and Development Agreement to be presented at a future meeting; or, Option I I - The CRA Board may determine that it is in the best interest of the CRA to solicit additional offers to purchase the property, the CRA Board will direct CRA staff and legal counsel to develop a request for proposal document to be presented to the CRA Board for their consideration at the next available meeting; or, Option I I I - The CRA Board may determine that it is in the best interest of the CRA to reject the terms and conditions of the Letter of I ntent and elect not to proceed with any further action. Option IV -Alternative direction as determined by the CRA Board. ATTACHMENTS: Description D Attachment I - Location Map D Attachment II - Proof of Closing 404 NW 12th Ave D Attachment III - Proof of Closing 402 NW 12th Ave D Attachment IV - Habitat for Humanity LOI D Attachment V - March 9, 2022 CRA Board Meeting M inutes D Attachment VI - Notice of Intent to Dispose of Real Property Proof of Publication D Attachment VII - Faith Based CDC Letter of Intent D Attachment VIII -CRA LOI Policy t v ' is esti y � f i r, 1� Y r s t 3r; ff �, gyri 5 r i ais 6 Y \ fi ti WIW` 1 I , S r 1 'y fi 1 Jrt Ile — i 4S1 v { 7 � f a ti} t nr„,i OMB Approval No 2502-0265 A. Settlement Statement (HUD-1) 1.❑ FHA 2.1:1 RHS 3.❑ Conv.Unins. 6.File No. 7.Loan No. 8.Mortgage Insurance Case No. TXC-2021-51 4.❑ VA 5.❑ Conv Ins. C Note: This form is furnished to give you a statement of actual settlement costs.Amounts paid to and bythe settlement agent are shown.Items marked"(p.o.c.)"were paid outside the closing;they are shown here for informational purposes and are not included in the totals. D.Name&Address of Borrower: E.Name&Address of Seller: F.Name&Address of Lender: BOYNTON BEACH COMMUNITY REDEVELOPMENT PALM BEACH COUNTY HOUSING AGENCY AUTHORITY 100 East Ocean Avenue 3432 45th Street 4th Floor West Palm Beach,FL 33407 Boynton Beach,FL 33435 G.Property Location: H.Settlement Agent: I.Settlement Date: 404 Northwest 12th Avenue Title Xperts,LLC 12/03/2021 Boynton Beach,FL 33435 Funding Date: Place of Settlement: 12/03/2021 560 Village Boulevard Suite 140 West Palm Disbursement Date: Beach,FL 33409 12/03/2021 100.Gross Amount Due from Borrower 400.Gross Amount Due to Seller 101.Contract sales price $72,600.00 401.Contract sales price $72,600.00 102.Personal property 402.Personal property 103.Settlement charges to borrower(line 1400) $1,651.55 403. 104. 404. 105. 405. Adjustment for items paid by seller in advance Adjustment for items paid by seller in advance 106.City/Town Taxes 406.City/Town Taxes 107.County Taxes 407.County Taxes 108.Assessments 408.Assessments 109. 409. 110. 410. 111. 411. 112. 412. 120.Gross Amount Due from Borrower $74,251.55 420.Gross Amount Due to Seller $72,600.00 200.Amount Paid by or in Behalf of Borrower 500.Reductions in Amount Due to Seller 201.Deposit $7,260.00 501.Excess deposit(see instructions) 202.Principal amount of new loan(s) 502.Settlement charges to seller(line 1400) $6,912.30 203.Existing loan(s)taken subject to 503.Existing loan(s)taken subject to 204. 504.Payoff of First Mortgage 205. 505.Payoff of Second Mortgage 206. 506. 207. 507. 208. 508. 209. 509. Adjustments for items unpaid by seller Adjustments for items unpaid by seller 210.City/Town Taxes 510.City/Town Taxes 211.County Taxes 511.County Taxes 212.Assessments 512.Assessments 213. 513. 214. 514. 215. 515. 216. 516. 217. 517. 218. 518. 219. 519. 220.Total Paid by/for Borrower $7,260.00 520.Total Reduction Amount Due Seller $6,912.30 300.Cash at Settlement from/to Borrower 600.Cash at Settlement to/from Seller 301.Gross amount due from borrower(line 120) $74,251.55 601.Gross amount due to seller(line 420) $72,600.00 302.Less amounts paid by/for borrower(line 220) $7,260.00 602.Less reductions in amounts due seller(line 520) $6,912.30 303.Cash FX1 From ❑ To Borrower $66,991.55 603.Cash 1K To ❑ From Seller $65,687.70 The Public Reporting Burden forthis collection of information is estimated at 35 minutes per response for collecting,reviewing,and reporting the data.This agency may not collectthis information,and you are not required to complete this form,unless it displays a currentlyvalid OMB control number.No confidentiality is assured;this disclosure is mandatory.This is designed to provide the parties to a RESPAcovered transaction with information during the settlement process. Previous editions are obsolete Page 1 of 3 HUD-1/Order#TXC-2021-51/December 2,2021 700.Total Real Estate Broker Fees Paid From Paid From Spller'g + Division of commission(line 700)as follows: Borrower's Funds Fundsat at Settlement Settlement 701.$4,950.00to FISHERAUCTION COMPANY 702.$ 703.Commission paid at settlement $4,950.00 704. 800.Items Payable in Connection with Loan 801.Our origination charge (from GFE#1) 802.Your credit or charge(points)for the specific interest rate chosen (from GFE#2) 803.Your adjusted origination charges (from GFE#A) 804.Appraisal fee (from GFE#3) 805.Credit report (from GFE#3) 806.Tax service (from GFE#3) 807.Flood certification (from GFE#3) 808. 809. 810. 811. $00.Items Required by Ler derto be Paid in Advance'. 901.Daily interest charges from 12/03/2021 to 01/01/2022 (from GFE#10) 902.Mortgage insurance premium (from GFE#3) 903.Homeowner's insurance (from GFE#11) 904. 1000.Reserves Deposited with Lender i 1001.Initial deposit foryour escrow account (from GFE#9) 1002.Homeowner's insurance 1003.Mortgage insurance 1004.Property taxes 1005. 1006. 1007.Aggregate Adjustment$0.00 1100.Title Charges 1101.Title services and lender's title insurance (from GFE#4) $695.00 1102.Settlement or closing fee to Title Xperts,LLC$695.00 $395.00 1103.Owner's title insurance to Westcor Land Title Insurance Company (from GFE#5) $417.45 1104.Lender's title insurance to Westcor Land Title Insurance Company 1105.Lender's title policy limit$ 1106.Owner's title policy limit$72,600.00 1107.Agent's portion of the total title insurance premium to Title Xperts,LLC$292.22 1108.Underwriter's portion of the total title insurance premium to Westcor Land Title Insurance Company$125.23 1109. 1110. 1111. 1200.Government Recording and Transfer Charges 1201.Government recording charges (from GFE#7) $27.60 1202.Deed$27.60 Mortgage$Release$to Official Records Department $61.60 1203.Transfer taxes (from GFE#8) 1204.City/County tax/stamps Deed$Mortgage$ 1205.State tax/stamps Deed$508.20 Mortgage$to Official Records Department $508.20 1206.Release of Deed of Trust to Official Records Department$61.60 1300.Additional Settlement Charges 1301.Required services that you can shop for (from GFE#6) 1302.No Mortgage Affidavit to Title Xperts,LLC $75.00 1303.Partial Release of Declaration of Trust to Title Xperts,LLC $50.00 1304.Lien Search to Proptective $239.00 $140.00 1305.Title Commitment to Westcor Land Title Insurance Company $95.00 1306.Survey Fee,Plot Plan to Prime Meridian Surveying,Inc. $500.00 1307.Safe Escrow Management to Safe Escrow $50.00 1308.Secure Communication&Document Management Portal to Qualia $90.00 1309.eRecording to Simplifile $7.50 $7.50 1310.Closing Update to Title Xperts,LLC $195.00 1311.Wire/Courier Fee to Title Xperts,LLC $30.00 $30.00 ^ Is r r $1,651.55 $6,912.30 Previous editions are obsolete Page 2 of 3 HUD-1 Comparison of Good Faith Esdmate(GFE)and HUD-1 Charges i Good Faiths Estimate HUD-1 Charges That Cannot Increase HUD-1 Line Number Our origination charge #801 Your credit or charge(points)for the specific interest rate chosen #802 Your adjusted origination charges #803 $0.00 Transfer taxes #1203 Charges That In Total Cannot Increase More Than 10Y Good FaithEstimate HUD-1 Government recording charges 1201 $27.60 Total $27.60 Increase between GFE and HUD-1 Charges Charges That Can Change i Good Faith Estimate HUD-1 Initial deposit foryour escrow account 1001 Daily interest charges 901 Homeowner's insurance 903 Title services and lender's title insurance 1101 $695.00 Owner's title insurance 1103 $417.45 Your initial loan amount is Your loan term is Your initial interest rate is Your initial monthly amount owed for principal,interest,and any mortgage includes insurance is ❑X Principal ❑X Interest ❑ Mortgage l nsu rance Can your interest rate rise? 191 No,❑ Yes,it can rise to a maximum of .The first changewill be on and can change again every months after .Every change date,your interest rate can increase or decrease by .Over the life of the loan,your interest rate is guaranteed to never be lowerthan or higher than Even ifyou make payments on time,can your loan balance rise? 191 No,❑ Yes,it can rise to a maximum of Even ifyou make payments on time,can your monthlyamount owed for principal,interest,and mortgage insurance rise? 191 No, Yes,the first increase can be on and the monthly amount owed can rise to .The maximum it can ever rise to is Does your loan have a prepayment penalty? 191 No, Yes,your maximum prepayment penalty is Does your loan have a balloon payment? FRI No,❑ Yes,you have a balloon payment of due in years on Total monthly amount owed including escrow account payments FYou do not have a monthly escrow payment for items,such as property taxes and homeowner's insurance.You must pay these items directly yourself. ❑ You have an additional monthly escrow payment of that results in a total initial monthly amount owed of.This includes principal,interest,any mortgage insurance and any items checked below: ❑ Property taxes ❑ Homeowner's insurance ❑ Flood insurance ❑ ❑ ❑ Note:If you have any questions about the Settlement Charges and Loan Terms listed on this form,please contactyour lender. See signature addendum Previous editions are obsolete Page 3 of 3 HUD-1 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY PALM BEACH COUNTY HOUSING AUTHORITY By: By: STEVEN B.GRANT,CHAIR Date Carol Jones-Gilbert,Chief Executive Officer and Executive Date Director The HUD-1 settlement statementwhich I have prepared is a true and accurate account of this transaction.I have caused orwill cause the funds to be disbursed in accordance with this statement Settlement Agent Date Previous editions are obsolete HUD-1 5 CFN 20220009169 OR BK 33197 PG 1950 RECORDED 01/10/2022 07:41:51 Palm Beach County, Florida Prepared by,Record and Return to: AMT 72,600.00 Racole Jackson,Esq. DEED DOC 508.20 Title Xperts,LLC Joseph Abruzzo 560 Village Boulevard Clerk Suite 140 Pgs 1950-1952; (3Pgs) West Palm Beach,FL 33409 File No.:TXC-2021-51 Parcel ID:08-43-45-21-14-000-4140 Property:404 Northwest 12th Avenue,Boynton Beach,FL 33435 WARRANTY DEED- CORPORATE GRANTOR This Warranty Deed made this 26th day of October, 2021, by and between PALM BEACH COUNTY HOUSING AUTHORITY,hereinafter called the Grantor,whose mailing address is 3432 45th Street,West Palm Beach,FL 33407; and BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY,hereinafter called the Grantee,whose mailing address is 100 East Ocean Avenue, 4th Floor, Boynton Beach,FL 33435. WITNESSETH,that the Grantor, for and in consideration of the sum of$10.00(Ten and 00/100 Dollars) and other valuable consideration, the receipt whereof is hereby acknowledged, hereby grants, bargains,and sells unto the Grantee,and Grantee's successors,heirs,and assigns forever,all that parcel of land in the County of Palm Beach,State of Florida,to wit: SEE EXHIBIT"A"ATTACHED HERETO AND MADE A PART HEREOF TOGETHER with all of the tenements,hereditaments and appurtenances thereto belonging or in anywise appertaining. TO HAVE AND TO HOLD,the same in fee simple forever. AND the Grantor hereby covenants with the Grantee that the Grantor is lawfully seized of said land in fee simple; that the Grantor has good right and lawful authority to sell and convey this land; that the Grantor hereby fully warrants the title to the land and will defend the same against the lawful claims of all persons whomsoever; and that the land is free of all encumbrances, except taxes accruing subsequent to December 31,2021,and restrictions,covenants,and easements of record. Warranty Deed—Corporate Grantor He No.:TXC-2021-51 Page 1 of 3 simplif ilc Prepared by, Record and Return to: Racole Jackson,Esq. I D; Title Xperts,LLCt 560 Village Boulevard County: orn Suite 140 Date: 1 110 West Palm Beach,FL 33409 File No.: TXC-2021-51 Parcel ID: 08-43-45-21-14-000-4140 Property: 404 Northwest 12th Avenue,Boynton Beach,FL 33435 WARRANTY DEED - CORPORATE GRANTOR This Warranty Deed made this 26th day of October, 2021, by and between PALM BEACH COUNTY HOUSING AUTHORITY,hereinafter called the Grantor,whose mailing address is 3432 45th Street, West Palm Beach, FL 33407; and BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, hereinafter called the Grantee, whose mailing address is 100 East Ocean Avenue, 4th Floor, Boynton Beach,FL 33435. WITNESSETH, that the Grantor, for and in consideration of the sum of$10.00 (Ten and 00/100 Dollars) and other valuable consideration, the receipt whereof is hereby acknowledged, hereby grants, bargains, and sells unto the Grantee,and Grantee's successors, heirs, and assigns forever, all that parcel of land in the County of Palm Beach, State of Florida,to wit: SEE EXHIBIT"A"ATTACHED HERETO AND MADE A PART HEREOF TOGETHER with all of the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining. TO HAVE AND TO HOLD,the same in fee simple forever. AND the Grantor hereby covenants with the Grantee that the Grantor is lawfully seized of said land in fee simple; that the Grantor has good right and lawful authority to sell and convey this land; that the Grantor hereby fully warrants the title to the land and will defend the same against the lawful claims of all persons whomsoever; and that the land is free of all encumbrances, except taxes accruing subsequent to December 31,2021, and restrictions,covenants, and easements of record. Warranty Deed—Corporate Grantor File No.:TXC-2021-51 Page 1 of 3 IN WITNESS WHEREOF, the Grantor has caused these presents to be executed in its name and its corporate seal to be hereunto affixed by its proper officers thereunto duly authorized, the day and year first above written. _ PALM BEACH COUNTY HOUSING "NESS " AUTHORITY 1 1 NT(, By: Carol Jones-Gi rt, Chief Executive X 1 . ESS JAOfficer and Executive Director P1lN NAME: [CORPORATE SEAL] STATE OF FLORIDA COUNTY OF PALM BEACH The foregoing in2t was acknowledged before me by means of` hysical presence or O online notarization this of October,2021,by Carol Jones-Gilbert, Chief Executive Officer and Executive Director of PALM BEACH COUNTY HOUSING AUTHORITY. _ a n;_ Sid �ture of Notary ?�: lie Z 0312902 Print,Type/Stamp Nam of Notary = ZaW"2h T White My GOmm155Q � \Personally Known: OR Produced Identification: =,�j• GG 973898�;� Type of Identification �r,;C IOF11F,�,.�` Produced: Warranty Deed—Corporate Grantor File No.:TXC-2021-51 Page 2 of 3 EXHIBIT "A" Lot 414, Cherry Hills, according to the Plat thereof, as recorded in Plat Book 4,Page 58, of the Public Records of Palm Beach County,Florida. Warranty Deed—Corporate Grantor File No.:TXC-2021-51 Page 3 of 3 CFM 20070483500 OR BK 22193 PG 0359 RECORDED 10/18/2007 11:25:08 Palm Beach County, Florida This Instrument Prepared By and Return to: AMT 170,000.00 e�Annabella Barboza,Esquire Doc Stamp 1, 190.00 REN,CHEROF,DOODY&EZROL,P.A. Sharon R. Bock,CLERK & COMPTROLLER 9 East Commercial Boulevard,Suite 200 Pgs 0359 - 360; (2pgs) Lauderdale,Florida 33308 08-43-45-21-14000-4150 WARRANTY DEED TENTURE, made this i'2 day of October, 2007 by and between Lennis L. Gillard and aPed e L. Gillard,husband and wife, hereinafter collectively referred to as "Grantor" and the Boynteach Community Redevelopment Agency, a Florida public body corporate and politic crew rsuant to Section 163.356 F.S.,whose post office address 915 South Federal Highway,Boyntone h,Florida 33435,hereinafter referred to as"Grantee." WITNESSETH: a That said Grantor in consideration of the sum of TEN($10.00)DOLLARS,and other good and valuable conside i o Grantor in hand paid by Grantee, the receipt whereof is hereby acknowledged,has granted, ed and sold to the Grantee, and Grantee' heirs and assigns forever, the following described land,s' 1 'ng and being in PALM BEACH County,Florida,to wit: Lot 415 of CHERRY HILLording to the plat thereof as recorded in Plat Book 4, Page 58 of the Public Records of Beach County, Florida, LESS AND EXCEPT that portion deeded to Palm Beach County ' R. Book 4383, Page 355, described as follows.- Begin ollows:Begin at the Northeast corneLot 415; thence South 03°4723" East, along the Easterly line of said Lot 415 fck=tance of 24.23 feet to the point of curvature of a circular curve concave to the Southwest and having for its elements a central angle of 88°11'44" and a radius of 25.00 feet; thence Northerly, Northwesterly and Westerly along said curve for an arc distance of 38.48 feet to the point of tangency, said point being on the Northerly line of said Lot 415; thence North 88°00'53"East, along said Northerly Lot Line for a distance of 24.23 feet to the Point of Beginning. SUBJECT TO:Taxes for current year and subsequent years,restrictions, easements and other matters of record. And the Grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever. Book22193/Page359 Page 1 of 2 r IN WITNESS_WHEREOF, Grantors have hereunto set Grantors' hands the day and year first ls�bove written. ed,sealed and delivered Q esence. 3 t ° eon's L.Gillard C P.O.Box 6961,Delray Beach,Florida 33482 (PrinV Ty e Name) Aid, �,.� Sharese L.Gillard P.O.Box 6961,Delray Beach,Florida 33482 (Print or Type e) �v 0 STATE OF FLORIDA COUNTY OF PALM BEA j& The foregoing instrument was adged before me this day of October,2007 by Lennis L. Gillard and Sharese L. Gillar husband and wife, who are personally known to me or.have produced a Florida driver's license tification. �+NOTAVYPVBLIC $BS�IoN> 8N4LGaWoB ao�°�ij0brm 11oV tz IPdV:S381dX3 sass as a rvoisslwwoo nw U3011Z'0 SIIMAHd u'aod atiyLo2 H:\2007\070603\sellees Documents\warranty Deed.doc 2 of 2 Book22193/Page360 Page 2 of 2 GOREN,CHEROF, A. Settlement Statement DOODY&EZROL,P.A. 3099 E.COMMERCIAL BLVD.,SUITE 200 U.S.Department of Housing 1^ FT.LAUDERDALE,FL 33308 and Urban Development i r OMB No.2502-0265 B.Type of Loan 1.❑ FHA 2.❑ FmHA 3.® Conv.Unms 6. File Number 7. Loan Number 8. Mortgage Insurance Case Number 4.0 VA 5.11 Conv.Ins. 070603 C.NOTE:This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked"(p.o.c.)"were paid outside the closing;they are shown here for informational purposes and are not included in the totals. D.NAME OF BORROWER: Boynton Beach Community Redevelopment Agency ADDRESS OF BORROWER:915 South Federal Highway,Boynton Beach,FL 33435 E.NAME OF SELLER: Lennis L.Gillard and Sharese L.Gillard,husband and wife ADDRESS OF SELLER: P.O.Box 6961,Delray Beach,FL 33482 F.NAME OF LENDER: ADDRESS OF LENDER: G.PROPERTY 402 NW 12th Avenue LOCATION: Boynton Beach,FL 33435 H.SETTLEMENT AGENT: GOREN,CHEROF,DOODY&EZROL,P.A. 3099 E.COMMERCIAL BLVD.,SUITE 200,FT.LAUDERDALE,FL 33308 PLACE OF SETTLEMENT: 3099 E.Commercial Blvd.,Suite 200,Ft.Lauderdale,Florida 33308 I.SETTLEMENT DATE: 10/11/1007 SUMMARY SUMMARY I OOGROSS AMOUNT DUE FROM BORROWER 400.GROSS AMOUNT DUE TO SELLER 101Contract sales price 170 000.00 401.0 ntract sales price 170.000 00 102Per onal or e 402Personal property 103Settlem,n s t lie 1 00 1 359 10 403. 104 404 5 OS d'ushnents for itel s aid b seller in advance Adjustments for items paid by seller in advance 106.Ci /town taxes to 406.Ci /town taxes to 107CoLinty taxes to 407COIlDlY taxes to 108A.s.sessmQnts to 40S.Assessments to 109, LO 402. to 110. to 410. to I 11. to 411 to 112 to 412, to 120GROSS AMOUNT DUE FROM BORROWER ' 172,359.10 420.GROSS AMOUNT DUE-TO SELLER 170,000.00 200AMOUNTS PAID BY OR IN BEHALF OF BORROWER 50OREDUCTIONS IN AMOUNT DUE TO SELLER 201 Deposit or earnest money 501 Excess deposit(see instructions 202Principal arnount ofnew lorm(s) 502 ttl nts t s 1400 2,37745 20 n 1 ' t 03 Existing loan(s)takrn Subject to 204. 504.Pa off of first mortgage loan 51 76735 Counttywide 205. 505Payoff of second mortgage loan 206Principal amount n w n s 506 2_0.7 50 208 508 209. 509. 209a 509a 209b 509b Adjustments for items unpaid by seller Adjustments for items unpaid by seller 21 OCi /t wn taxes to 51 O.Ci /town taxes to 211 County taxes 1/1/2007 to /'20 5 1 I.County taxes to ') 212Asse sments to 512A se sments to 213. to 513. to 214, to 514 5 515 216 to 516, 217. to 517. to 8 518 219. to 519 to 220TOTAL AMOUNTS PAID 520.TOTAL REDUCTIONS IN BY OR IN BEHALF OF BORROWER ' 17,000.00 AMOUNT DUE SELLER 54,144.80 300CASH AT SETTLEMENT FROM/r0 BORROWER 600.CASH AT SETTLEMENT TO/FROM SELLER 301 Gross amount due from borrower line 120 172 359.10 601.Gross amount due to seller line 420 170-000.00 302Less amounts paid by/for borrower line 220 17.000.00 602.Less reductions in amount due seller line 520 54-144.80 303.CASH® From❑To•BORROWER 155,359.10 603.CASH ®To ❑From SELLER / 115,855.20 PAGE I HUD-1(3-86)RESPA,HB 4305.2 3J21111.1 Dlspiny Systems,Ine.(HI3)7(3-5555-Lvser GcncrnlvA U.S.DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SETTLEMENT STATEMENT PAGE L. Settlement Charges 700. TOTAL SALES/BROKER'S COM.based on price 170 000 OQ t %= Paid From Paid From Division of Commission line 700 as follows: Borrower's Seller's 701, tQ Funds At Funds At 702. to Settlement Settlement 703, Commi5sion paid at Settlement 704. to 800. Items Pa able In Connection With Loan 801 n Qrigination Fe ° t 802. Loan Discount a/ to 803.Appraisal Fee t 804Credit Report to 805Lenkfs Inspection Fee 806.Mortgage Insurance A_plication Fee to 807 to 808 to 809, to 81 0to 811, IQ t 813, to 814, t 815. to 900. Items Required By Lender To Be Paid In Advance 901. Interest from to /dav 902. Mortizaize Insurance Premium for months to 903 ns nc?Prernium for years 904. years to 905. vears to 1000.Reserves Deposited With Lender 1001.Hazard i urance s 1002 rtran 1003.City properjytaxes monthsn per month 1004.County 1005.Annual assessments iponthsa� per month 1006montllsQ per month 1007, n per month 1008. monthsper month 1009. 1100.Title Charges 1101Settlement or closing fee to * 1102.AbstFaQ1 Qr title search to 1103,Title examinafion 1104.Title insurance b nder t 05 Document preparation * 1106.Notary fees to 07Attorney's fees * includes above items numbers: I I Q8.Title insurance to Attomeys'Title Insurance Fund 925 0 (includes above items numbers7 1109 Lender R' r tri m INS AMT- I110.Owner's coverage:Risk Premium 915.00 INS AMT: 170 000 0 1110a 1111. to 1112. to 1113. to 1200.Government Recording and Transfer Charges 120 s 19 J-0- 1202.City_/couaty laxIstarrips7D e s 1203.State tax/tams Deed$1,190,007 L-Morta e s -Mort a e s 1,190.00 1204. 1205. 1300.Additional Settlement Charges 30 s *P 0 C* 1302.Appraisal to 33 * * 1304 s-PFOFations to Palin Beach County Tax Collector 1 69770 305 Lien Search tQ Abramowitz Tax&Lien Service Inc 8500 1306.CourieLDeliveFy Service to 1307.Water Esrrow to 1308.Past dire utilities accounts to City of Bo nton Beach 494.75 1309. to 1400.Total Settlement Charges (enter on lines 103,Section J and 502,SectioRK) 21359.10 2,377.45 CERTIFICATION DATE: 0/121 007 I have re Ily reviewed the HUD-1 Settlement Statement and to the best of my knowledge and belief,it is a true and accurate statement of al�recetp s and disbur em is made on my accoun by me in this transaction. I further certify that I have received a copy of the HUD-I Settlement Statement. Bo n n ach Commu Redevel ent Ageneya Florida Pu �y corporate d politic ( cu Borrower fler on Beach Community Redevelopment ge cy ennis, Gillard Bv: Borrower k �1-� i o ' C Seller Sharese L.Gifford v The HUD-I Settlement Statement which I have prepared is a true and accurate account ofthis transaction.I have caused the funds to be disbursed in accord- ance with this statement. GOREN,CHEROF,DOODY&EZROL,P.A. Settlement Agent 10/1?/?007 Date WARNING:It is a crime to knowingly make false statements[o the United States on this or any other similar form. Penalties upon conviction can include a fine and imprisonment.For details see:Title 18 U.S.Code Section 1001 and Section 1010. 070603 File No.270 i n, ` Y, y R Summary Report of a Duplex LOCATED AT: 402 NW 12th Ave Boynton Beach,FL 33435-3097 PO#000357 FOR: Boynton Beach CRA 915 S.Federal Highway Boynton Beach,FL 33435 Attention:Vivian Brooks AS OF: January 26,2007 BY: Anderson&Carr,Inc. 521 South Olive Avenue West Palm Beach,FL 33401 (561)833-1661 (561)833-0234 FAX 01 Anderson&Carr,Inc. Form GA2—"TOTAL for Windows"appraisal software by a la mode,ino.—1-800-ALAMODE ROBERT B.BANTING,MAI,SRA,PRESIDENT FRANK J.CARDO,MAI,VICE PRESIDENT State-Certified General Real Estate Appraiser RZ4 State-Certified General Real Estate Appraiser RZ1190 ANUMSCN & C, UU9 INC. a«a««««««««««««««««««««««««««««««a«««a« Appraisers •Realtors u»»»»»v»»»v»u»»u»»»u»»a»uu>>uv»»u»»»»uu 521 SOUTH OLIVE AVENUE WEST PALM BEACH,FLORIDA 33401-5907 www.andersoncatr.com Telephone(561)833-1661 Fax(561)833-0234 February 1,2007 Quality&11,1ce e%cc 1442 Ms. Vivian Brooks,Planning Director Boynton Beach CRA 915 S. Federal Highway Boynton Beach,FL 33435 Re: A Rental Duplex Property Located at: 402 NW 12"'Avenue Boynton Beach, FL 33435 Our File No,270059 Purchase Order No.000357 Dear Ms. Brooks: At your request,we have appraised the above referenced property. The purpose of this appraisal was to estimate the"As Is"market value of the fee simple estate of the subject property, as of January 26, 2007. As a result of our analysis, we have developed an opinion that the "As Is" market value, subject to the definitions, certifications, and limiting conditions set forth in the attached report, as of January 26, 2007 was: ONE HUNDRED SEVENTY THOUSAND DOLLARS ($170,000) The following presents a complete appraisal in a summary report. This letter must remain attached to the report in order for the value opinion set forth to be considered valid. Your attention is directed to the Assumptions and Limiting Conditions that follow. Respectfully submitted, ANDERSON& CARR,INC. Robert B. Ban ung, MAI,SRA State-Certified General Real Estate Appraiser RZ4 a 6_ __,j4 Cy �hia A. Bennett StaCe Certified Residential Real Estate Appraiser RD4014 RBB/CAB Anderson&Carr,Inc. File No.2700591 PO#000357Small Residential Income Property Appraisal Report File# 279059 The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Pro e Address 402 NW 12th Ave City Boynton Beach State FL Zip Code 33435.3097 Borrower Client:Boynton Beach CRA Owner of Public Record Lennis&Sharese Gillard County Palm Beach Legal Description Cheny Hills Boynton Lot 415 less return curve in O.R.4383 Page 355 Plat Book 4 Page 58 Assessor's Parcel# 08-43-45-21-14-000-4150 Tax Year 2006 R.E.Taxes$ 1,754.00 Neighborhood Name Cherry Hills Man Reference 99 Census Tract 0061.00 Occupant ❑Owner IZ Tenant ❑Vacant Special Assessments$ N/a ❑PUD HOA$N/a ❑per year ❑per month " Property Rights Appraised Z Fee Simple ❑Leasehold ❑Other describe Assignment Type ❑Purchase Transaction ❑Refinance Transaction ®Other describe Possible acquisition by Boynton Beach CRA Lender/Client Bo nton Beach CRA Address 915 S.Federal Highway,Boynton Beach FL 33435 Is the subject prope5y currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? ❑Yes ®No Report data sources used,offering price(s),and date(s). Public records owner I ❑did ®did not analyze the contract for sale for the subject purchase transaction.Explain the results of the analysis of the contract for sale or why the analysis was not performed. N/A Contract Price$ N/A Date of Contract NIA Is the property seller the owner of public record? ❑Yes ❑No Data Sources N/A Is there any financial assistance(loan charges,sale concessions,gift or downpayment assistance,etc.)to be paid by any party on behalf of the borrower? ❑Yes ❑No • If Yes,report the total dollar amount and describe the items to be paid. N/A Note:Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics I I2-4 Unit Housing Trends 2-4 Unit Housing Present and Use Location ®Urban ❑Suburban ❑Rural I Property Values ❑Increasing ❑Stable ®Declining PRICE AGE One-Unit 30% Built-Up ®Over 75% ❑25-75% ❑Under 25%1 Demand/Su I ❑Shortage ®In Balance ❑Over Supply $ 000 yrs 2-4 Unit 20% Growth ❑Rapid ❑Stable ®Slow Marketin Time ❑Under 3 mths ❑3-6 mths Over 6 mths 124 Low 30 Multi-Family 10% • Neighborhood Boundaries The subject neighborhood is bounded by Boynton Beach Canal to the 300 High 60 Commercial 5% • north U.S.Highway 1 to the east Boynton Beach Blvd.to the south and 1-95 to the west. 200 Pred. 45 Other 35% • Neighborhood Description The subject is located in The Heart of Boynton redevelopment area.This is a transitional neighborhood as the Boynton Beach CRA plans to acquire the properties in this area for redevelo ment.The subject is located in the Cherry Hills subdivision and plans are to re lat this area and redevelop with a traditional single family neighborhood. Market Conditions including support for the above conclusions The housing market in the subject area is slow with homes staying on the market longer while the supply of homes on the market has increased dramatically.Some owners have lowered their prices over the past few months. Dimensions irregular-see plat Area 2 950 SF Sha e Irregular View Residential Specific Zoning Classification R2 Zoning Description Residential duplex Zoning Compliance ❑Legal ®Legal Nonconforming Grandfathered Use ❑No Zoning ❑Illegal describe No survey was provided.Site areaestimated. Is the highest and best use of subject roe as improved or as proposed per plans andspecifications)the resent use? ❑Yes ®No If No,describe The subject property has no driveway/parking and is in a transition area.The Boynton Beach CRA may acquire the subject for redevelopment. Utilities Public Other(describe) Public Other(describe) Off-site Improvements-Type Public Private Electricity Zi ❑ Water ® ❑ Street Asphalt Z ❑ Gas ❑ ❑None Sanitary Sewer ® ❑ A[ley None ❑ ❑ FEMA Special Flood Hazard Area ❑Yes X No FEMA Flood Zone B FEMA Map# 1201960004C FEMA Map Date 9/30/1982 Are the utilities and/or off-site improvements ical for the market area? X Yes ❑No If No,describe Are there any adverse site conditions or extemal factors easements,encroachments,environmental conditions,land uses,etc.)? Z Yes ❑No If Yes,describe The street was recently reconfigured with a portion of the northeast corner of the subject lot taken for road curvature leaving the subject lot with only 2,950 SF+I-and no driveway cut in the curbin 1. General Description Foundation Exterior Description , materials/condition Interior materials/condition Units ®Two ❑Three ❑Four ®Concrete Slab ❑Crawl Space Foundation Walls NIA Floors Cer.tile/vin l/av ❑Accessary Unit describe below LlFull Basement ElPartial Basement Exterior Walls Concrete block Walls Drywalllavg. #of Stories 1 #of bld s.1 Basement Area N/A s .ft. Roof Surface Flat Trim/Finish Wood/av . Type ❑Det. Z Aft. ❑S-Det./End Unit Basement Finish N/A °% Gutters&Downspouts No Bath Floor C tilelav . ®Existing ❑Proposed ❑Under Const.❑Outside Ent /Eat ❑Sump Pump Window Tye Alum.SH Bath Wainscot C tile/wet areas Design(Style) Duplex Evidence of ❑Infestation Storm Sash/Insulated None Car Storage Year Built 1959 B Dampness ❑Settlement Screens Yes ®None Effective Age(YrS) 20 Heating/Cooling- Amenities ❑Driveway #of Cars Attic Z None Ll I ElHWBB ❑Radiant❑Fireplaces # ❑Woodstove s # Driveway Surface None ❑Drop Stair ❑Stairs ®Other None I Fuel N/A ❑Patio/Deck ®Fence partial El Floor Ll Garage #of Cars ❑Scuttle Coolin ❑Central Air Conditioning ❑Pool ❑Porch ❑Carport #of Cars ❑Finished ❑Heated ®Individual ILI Other ❑Other ❑Att. ❑Det. Ll Built-in #of Appliances I Refrigerator 2 Range/Oven 2 1 Dishwasher Disposal Microwave Washer/Dryer Other(describe) Unit#1 contains: 2 Rooms 1 Bedrooms 1 Baths 455 Square Feet of Gross Living Area Unit#2 contains: 2 Rooms 1 Bedrooms 1 Baths 455 Square Feet of Grass Living Area Unit#3 contains: Rooms Bedrooms Baths Square Feet of Gross Living Area Unit#4 contains: Rooms Bedrooms Baths Square Feet of Gross Living Area Additional features(special energy efficient Items,etc.. The units have ceramic tile and vinyl flooring.The units were updated in the past with new kitchen cabinets and updated baths when the building was purchased by the current owner.No energy efficient items. Describe the condition of the property(including needed repairs,deterioration,renovations,remodeling,etc.. There is some deferred maintenance with some missing the in the shower in Unit B and there appears to be missing kitchen cabinets over the range in Unit A.Torn screens.The roof was recently replaced per owner.There is no driveway for the subject. Freddie Mac Form 72 March 2005 Page 1 of 7 Fannie Mae Form 1025 March 2005 Form 1025-TOTAL for Windows"appraisal software by a Is mode,inc.—1-800-ALAMODE File No.270059 #000357Small Residential Income Property Appraisal Report File 270059 Are there any physical deficiencies or adverse conditions that affect the livability,soundness,or structural integrity of the property? ❑Yes A No If Yes,describe. Does the property generally conform to the nei hborhood functional utility,style,condition,use,construction,etc.)? X Yes ❑No If No,describe. Is the property subject to rent control? ❑Yes gl No If Yes,describe The following properties represent the most current, similar, and proximate comparable rental properties to the subject property. This analysis is intended to support the opinion of the market rent for the subject property. FEATURE I SUBJECT COMPARABLE RENTAL#1 COMPARABLE RENTAL#2 COMPARABLE RENTAL#3 Address 402 NW 12th Ave 449 NW 1st Avenue 401 S.Seacrest Blvd.#1 205 NE 3rd Street,#208 Boynton Beach Boynton Beach Boynton Beach Boynton Beach Proximi to Subject 0.67 miles 0.95 miles 0.82 miles Current Month/ Rent $ 1,200 u $ 1,600 , $ 775 $ 750 Rent/Gross Bldg,Area $ 1.32 s ft $ 1.18 SO. $ 1.29 s ft. `�'��,` �, , $ 1.34 s .ft. Rent Control ❑Yes ®No ❑Yes X No ❑Yes ®No ❑Yes ®No Data Sources Owner Realtor Public records Realtor,public records Realtor,public records Date of Leases N/A N/A N/A N/A Location Urban Urban Urban Urban Actual Age 48 years 53 years 45 years 35 years Condition Below average Average Average Average Gross Building Area 910 1.360 600 560 Rm Count Size Rm Count g1Ze Monthly Rent Rm Count gaze Monthly Rent Rm Count Size Monthly Rent Unit Breakdown Sq.Ft. S .Ft. S .Ft. Sq.Ft. Tot Br Ba gio.Totl Br I Ba 1,360 1,boo Totl Br I Ba 600 775 Tot Br Be 560 750 • Unit#1 2 1 1 455 3 1 1 800$ 950 2 1 1 600$ 775 3 1 1 560$ 750 Unit#2 2 1 1 455 4 2 1 560$ 650 1 $ $ Unit#3 $ $ $ Unit#4 $ 1 $ $ Utilities Included None-Tenants pa Owner pays water tenant pwer pays water.Tenant Owner pays water.Tenant pays water&electric electric and as bectric. 20 unit buildin Analysis of rental data and support for estimated market rents for the individual subject units reported below(including the adequacy of the comparables,rental concessions, etc.) Comparable rentals 1 8,2 have unit AC like the subject.Comparable rent 3 has central AC which is superior to the subject.The indicated monthly rent for the subject is$600 for 1 bedroom/i bath units.The total estimated monthly rental income is estimated at $1,200.Total estimated annual rental income is$24,000. Rent Schedule:The appraiser must reconcile the applicable indicated monthly market rents to provide an opinion of the market rent for each unit in the subject property. Leases Actual Rents Opinion of Market Rent Lease Date Per Unit Total Per Unit Total Unit# Begin Date End Date Unfurnished Furnished Rents Unfurnished Furnished Rents 1 N/A N/A $ 600$ $ 600$ 600$ $ 600 2 N/A N/A 600 600 600 600 3 4 Comment on lease data Total Actual Monthly Rent $ 1,2o0 Total Gross Month/ Rent $ 1,200 Other Monthly Income itemize $ N/A Other Monthly Income itemize $ 0 Total Actual Monthly Income $ 1,2001 Total Estimated Monthly Income $ 1,200 Utilities included in estimated rents ❑Electric ❑Water ❑Sewer ❑Gas ❑Oil ®Trash collection ❑Cable ❑Other Comments on actual or estimated rents and other monthly income including personal roe The present monthly rent for the subject is$600 or$1.32 per SF for the one bedroom units which appears to be at the top of the market on a lier square foot basis but at the low end on a per unit rental. I Z did ❑did not research the sale or transfer history of the subject property and comparable sales.If not,explain My research ❑did ®did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal. Data Source(s) Public records RealQuest My research ❑did ®did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale. • Data Sources Public records RealQuest Report the results of the research and analysis of the prior sale or transfer history of the subject property and com arable sales(report additional no sales on age 3L_ ITEM SUBJECT I COMPARABLE SALE#1 1 COMPARABLE SALE#2 COMPARABLE SALE#3 Date of Prior Sale/Transfer 112001 4/18/2005 4/16/2003 4/15/2003 Price of Prior Sale/Transfer $10,000 $147 900 $120 000 $120,000 • Data Source s Public records Public records Public records Public records Effective Date of Data Sources Janua 28 2007 11anua 28 2007 January 28 2007 January 28 2007 Analysis of prior sale or transfer history of the subject property and comparable sales The subject has been owned by the present owner for over five ears.Sale 1 was acquired in April,2005 for$147,900 as in O.R.Book 18464 page 437.Previous sale occurred in April,2003 for $120,000.Sales 2 and 3 previous sales occurred in A ril 2003 for$120,000 each. Freddie Mac Form 72 March 2005 Page 2 of 7 Fannie Mae Farm 1025 March 2005 Form 1025—"TOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE File No.270059 Q#000357Small Residential Income Property Appraisal Report Fill 2P70059 There are 15 comparable propertles currently offered for sale in the subject neighborhood ranging in price from$ 200,000 to$ 474,000 There are 7 comparable sales in the subject neighborhood within the past twelve months ranging in sale price from$ 196,o o to$ 385,000 FEATURE I SUBJECT COMPARABLE SALE#1 COMPARABLE SALE#2 COMPARABLE SALE#3 Address 402 NW 12th Ave 201 NW 7th Court 203 SE 4th Ave 207 SE 4th Ave Boynton Beach Boynton Beach Boynton Beach Boynton Beach Proximity to Subject ''. 0.31 miles 1.05 miles 1.05 miles Sale Price $ N/A $ 206,000 $ 196 000 ," _.'s'� -�; $ 196 000 Sale Price/Gross Bldg.Area $ s .ft.$ 164.54 s ft_ $ 151.23 s ft f�6 }:$ 151.23 s ft Gross Monthly Rent $ 1.200$ 1,635 1,350 $ 1,30 Gross Rent Multiplier 125.99 , t=",`.:;`-' 145.19 ,,,' 150.77:x:?f, Price per Unit $ $ 103,000-' $ 98,000 $ 98,000 Price per Room $ $ 29,429 !` $ 32 6s7 $ 32,66741,,`,'` Price per Bedroom $ $ 68,667 $ 98,000 Rent Control ❑Yes No ❑Yes ®No ❑Yes ®No ❑Yes ®No Data Sources Public records RealQuest Public records RealQuest Public records RealQuest Verification Sources '4 MLS Realtor deed MLS Realtor MLS Realtor VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +- Adjustment DESCRIPTION +- Adjustment DESCRIPTION +- Adjustment Sale or Financing ",�..conventional Conventional Conventional Concessions $185 400 $166,800 $156,800 Date of Sale/Time ":, 7/21/06 +12,360 3122106 +9,800 3/22/06 +9,800 Location Urban Urban Urban Urban Leasehold/Fee Simple Fee Simple Fee Simple Fee Simple IFee Simple Site 2,950 SF 8,405 SF -54,550 10,000 SF -70,500 7,50 SF -45 500 View Residential Residential Residential Residential Design(Style)_Duplex Duplex Duplex Duplex Quality of Construction CBS/avg. CBS/avg. CBS/av . CBS/avg. Actual Age 48 years 41 years 43 years 43 years • Condition Average Average Average Avera e Gross Building Area 910 1,252 1,296 1,296 • Unit Breakdown Total BdrmsI Baths Total I Bdrms Baths Total Bdrms I Baths Total Bdrms Baths Unit#1 2 1 1 1 4 2 1 3 7 1 3 1 1 Unit#2 2 1 1 3 1 1 3 1 1 3 1 1 • Unit#3 Unit#4 Basement Description N/A N/A N!A J��JAveraqe /A Basement Finished Rooms N/A NIA N/A /A Functional UtilityAverage Average Avera a Heating/Cooling Unit AC Unit AC lUnit AC lUnit AC Energy Efficient Items None None None None Parkin On/Off Site Street parking On site parking On site parking On site parking Porch/Patio/Deck Cov.entry Cov.patio Cov.entry N/A Effective Units 1.5 eff.units 1.75 eff.units 1.5 eff.units 1.5 eff.units Sales Price/Effective Unit $117,714 $130,666 $130,666 Net Adjustment(Total) ❑+ BI- $ 42,190 ❑+ M- $ 60.700 ❑+ X- Is 35,700 Adjusted Sale Price Net 20.5 % Net 31.0 % Net 18.2 % of Comparables Gross 32.5 % $ 163,810 Gross 41.0 % $ 135,30o Gross 28.2 % $ 160,300 Adjusted Price Per Unit (Adi.sncamp/#orcomp unas( $ 819051 ','rr$ 67650 ;$ Adjusted Price Per Room(Adj.SP comp/#of comp Rooms) IS 23,401 $ 22 550 $ 26,717 FIndlGated rice Per Bedrm(Adj.sR Comp 19 of comp Bedrooms $ 54,603 • ., dl� ;r$ 67,650 j> „ I,j°,$ 80.15 0 pernit $ 80,000 X 2 Units=$ 160 000 Value er GBA $ 166 X 910 GBA=$ 151,060 perm. $ 30,000 X 4 Rooms=$ 120,0001 Value per Bdrms.$ 75,000 X 2 Bdrms._$ 150,000 f Sales Comparison Approach includingreconciliation of the above indicators of value. Price per effective unit ranges from$106,000 to 6.Market indicates 1.5 eff.units @$120,000=$180,000 were adjusted downward for difference in lot size at$10/SF.Market value should fall near the middle of the adjusted range. alue by-Sales Approach$ 166,000 Total gross month) rent$ 1,200 X gross rent multiplier GRM 145 =$ 174,000 Indicated value by the Income Approach • Comments on income approach including reconciliation of the GRM The GRMs range from 125 to 150.Most weight was given to sales 2&3 as the are most similar to the subject. Indicated Value by: Sales Comparison Approach$ 165,000 Income Approach$ 174 000 Cost Approach(if developed)$ The Sales Comparison Approach is given the most weight in the final analysis as it reflects the current demand for properties in the subject area.The Income approach is supportive. This appraisal is made Z"as is", ❑ subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been • completed, ❑subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed,or ❑subject to the following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: Based on a complete visual inspection of the interior and exterior areas of the subject property,defined scope of work,statement of assumptions and limiting conditions,and appraiser's certification,my(our)opinion of the market value,as defined,of the real property that is the subject of this report is $ 170,000 as of January 26 2007 which is the date of inspection and the effective date of this appraisal. Freddie Mac Form 72 March 2005 Page 3 of 7 Fannie Mae Form 1025 March 2005 Form 1025-"TOTAL for Windows"appraisal software by a la made,Inc.-1-800-ALAMODE File Na.270059 PO Small Residential Income Property Appraisal Report File#270059#000357 In the Sales Comparison Approach sales of comparable projects were found and compared to the subject on a price-per-unit, per-adjusted-unit effective unit basis and a price per square foot of living area.The adjusted unit calculation formula is as follows: Efficient /Studio .50 Unit 1 Bedroom/1 Bath .75 Unit 1 Bedroom/1.5 Bath .90 Unit 2 Bedroom/1 Bath 1.00 Units 2 Bedroom/1.5 Bath 1.15 Units 2 Bedroom/2 Bath 1.25 Units 3 Bedroom/1 Bath 1.25 Units 3 Bedroom/1.5 Bath 1.40 Units 3 Bedroom/2 Bath 1.50 Units 3 Bedroom/2.5 Bath 1.60 Units 3 Bedroom/3 Bath 1.75 Units 4 Bedroom/2 Bath 1.75 Units The effective unit calculation for the subject is as follows: 2 one bedroom/one bath apartments @.75 each=1.50 eff.units. COST:APPROACH TO VALUE(not required by Fannie Mae) Provide adequate information for the lender/client to replicate the below cost figures and calculations. Support for the opinion of site value(summary of comparable land sales or other methods for estimating site value Not applicable ESTIMATED ❑REPRODUCTION OR ❑REPLACEMENT COST NEW OPINION OF SITE VALUE..._....________.__._-_-__.---_-.---_._--_-..... _$ Source of cost data DWELLING S .Ft.@$ ------------ Quality rating from cost service Effective date of cost data S .Ft.@$ _$ Comments on Cost Approach(gross living area calculations,depreciation,etc. _$ ------------- Garage/Carport S .Ft.@$ =$ Total Estimate of Cost-New --- =$ --------- Less Physical I Functional lExternal —Depreciation =$ Depreciated Cost of Improvements -----------------=$ "As-is"Value of Site Improvements ...-..._______..._.._.----...-__-_....=$ Estimated Remaining Economic Life HUD and VA only Years INDICATED VALUE BY COST APPROACH------------------ =$ PROJECTINFORMATION FOR PVDs(if applicable) Is the developer/builder in control of the Homeowners'Association HOA'? ❑Yes ❑No Unit e s ❑Detached ❑Attached Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject propeqy is an attached dwelling unit. Legal Name of Project _ Total number of phases Total number of units Total number of units sold Total number of units rented Total number of units for sale Data source(s) Was the project created by the conversion of existing buildings into a PUD? ❑Yes ❑No If Yes,date of conversion. Does the project contain any multi-dwelling units? ❑Yes ❑No Data Source Are the units,common elements,and recreation facilities complete? ❑Yes ❑No If No,describe the status of completion. Are the common elements leased to or by the Homeowners'Association? ❑Yes ❑No If Yes,describe the rental terms and options, Describe common elements and recreational facilities. Freddie Mac Form 72 March 2005 Page 4 of 7 Fannie Mae Form 1025 March 2005 Form 1025—"TOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE File No.270059 #000357Small Residential Income Property Appraisal Report File#270059 This report form is designed to report an appraisal of a two-to four-unit property, including a two-to four-unit property in a planned unit development (PUD). A two- to four-unit property located in either a condominium or cooperative project requires the appraiser to inspect the project and complete the project information section of the Individual Condominium Unit Appraisal Report or the Individual Cooperative Interest Appraisal Report and attach it as an addendum to this report. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or.her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: 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, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements, including each of the units. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. Freddie Mac Form 72 March 2005 Page 5 of 7 Fannie Mae Form 1025 March 2005 Farm 1025—"TOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE File Na.270059 000357Small Residential Income Property Appraisal Report File#2P700#059 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. 1 have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. 1 performed a complete visual inspection of the interior and exterior areas of the subject property, including all units. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. 1 performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. 1 developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison and income approaches to value. I have adequate market data to develop reliable sales comparison and income approaches to value for this appraisal assignment. I further certify that I considered the cost approach to value but did not develop it, unless otherwise indicated in this report. 5. 1 researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. 1 researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. 1 selected and used comparable sales that are locationally, physically,and functionally the most similar to the subject property. 8. 1 have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. 1 have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. 1 verified,from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. 1 have knowledge and experience in appraising this type of property in this market area. 12. 1 am aware of, and have access to,the necessary and appropriate public and private data sources, such as multiple listing services,tax assessment records, public land records and other such data sources for the area in which the property is located. 13. 1 obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. 1 have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. 1 have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. 1 stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. 1 have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. 1 personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it. 20. 1 identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report. Freddie Mac Form 72 March 2005 Page 6 of 7 Fannie Mae Form 1025 March 2005 Form 1025—"TOTAL for Windows"appraisal software by a Is mode,inc.—1-800-ALAMODE File Na.270059] #000357Small Residential Income Property Appraisal Report ile/270059 21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22. 1 am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. 1 directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. 1 accept full responsibility for the contents of this appraisal report including, but not limited to,the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER0 Y I�REII ED Signature z�1�� ,� Ls n Sign to _ Name Cynthia�Bennett Name Robert B.Ranting,MAI,SRA Company Nam)Anderson a Carr Inc. Company Name Anderson&Carr,Inc. Company Address 521 S.Olive Ave.West Palm Beach,FL Company Address 521 S.Olive Ave.West Palm Beach FL 33401 33401 Telephone Number (561)833-1661 Telephone Number 1561►833-1661 Email Address cbennett@andersoncarr.com Email Address rbanting@andersoncarr.corn Date of Signature and Report February 1,2007 Date of Signature February 1,2007 Effective Date of Appraisal January26,2007 State Certification# St.Cert.Gen.REA RZ4 State Certification# St.Cert.Res.REA RD4014 or State License# or State License# State FL or Other(describe) State# Expiration Date of Certification or License 11/30/2006 State FL Expiration Date of Certification or License 11/30/2008 SUBJECT PROPERTY ADDRESS OF PROPERTY APPRAISED Z Did not inspect subject property 402 NW 12th Ave ❑ Did inspect exterior of subject property from street Boynton Beach,FL 33435-3097 Date of Inspection ❑ Did inspect interior and exterior of subject property APPRAISED VALUE OF SUBJECT PROPERTY$ 170,000 Date of Inspection LENDER/CLIENT COMPARABLE SALES Name Vivian Brooks,Planning Director P Did not inspect exterior of comparable sales from street Company Name Boynton Beach CRA F7 Did inspect exterior of comparable sales from street Company Address 915 S.Federal Highway Boynton Beach FL Date of Inspection 33435 Email Address Brooks Vi@ci.boynton-beach.fl.us Freddie Mac Form 72 March 2005 Page 7 of 7 Fannie Mae Form 1025 March 2005 Form 1025—"TCTAL for Windows"appraisal software by a la mode,Inc.—1-800-ALAMODE File No.270059 #O00357Small Residential Income Property Appraisal Report Elle#270059 FEATURE SUBJECT COMPARABLE SALE#4 COMPARABLE SALE#5 COMPARABLE SALE#6 Address 402 NW 12th Ave 807 NE 3rd Street Bo nton Beach Boynton Beach Proximity to Subject ")0.60 miles 0.15 miles Sale Price $ N/A $ Sale Price/Gross Bldg.Area $ sq.ft $ 109.28 s .ft Gross Month/ Rent $ 1,200 Gross Rent Multiplier r 7 Price per Unit $ $ 106,000,>,:, Price per Room Is $ 26,500 Price per Bedroom $ $ Rent Control ❑Yes ®No ❑Yes ®No ❑Yes ®No ❑Yes ❑No Data Sources ;ti Public records RealQuest Verification Sources `'•��, ,`}',�� MLS Owner/Realtor.deed VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +— Adjustment DESCRIPTION +L—)Adjustment DESCRIPTION +H Adjustment Sale or Financing private finance Concessions I$175 000 Date of Sale Time i 1218/06 Location .Urban Urban Leasehold/Fee Simple Fee Simple Fee Simple Site 2,950 SF 7,300 SF -43,500 View Residential Residential Design S Ie ou iex Ou lex Quality of Construction CAS/ay.— CBS/avg. Actual Age 48 years 34 years Condition Average Below averse +15,000 Gross Building Area 910 1 94 Unit Breakdown Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Unit#1 2 1 1 4 2 1 Unit#2 2 1 1 4 2 1 Unit#3 Unit#4 Basement Description N/A N/A Basement Finished Rooms N/A NIA Functional Utility Avera a Average Heating/Cooling unit AC unit AC Energy Efficient Items None iNone Parkin On/Off Site Street parking lOn site parking Parch/Patio/Deck Cov.entry Cov. try Effective Units 1.5 eff.units 2 eff.units Sales Price/Effective Unit $106.000 Net Adjustment otal + X— $ 28,500 ❑+ ❑— $ ❑+ ❑— $ Adjusted Sale Price Net 13.4 °% Net % Net % of Com stables t Gross 27.6 % $ 183,50o Gross % $ Gross % $ Adjusted Price Per Unit (Adi.sRcomp/#mcompu°as) $ 91,750 $ Adjusted Price Per Room(Adj.sR comp/#of comp Rooms) $ 22,938 Adjusted Price Per Bedrm(Adi.SR comp/#of comp Bedrooms $ Report the results of the research and analysis of the prior sale or transfer istol of the subject prope and com arable sales(report additional prior sales on page 3). ITEM SUBJECT I COMPARABLE SALE#4 COMPARABLE SALE#5 COMPARABLE SALE#6 Date of Prior Sale/Transfer 1/2001 11/05 Price of Prior Sale/Transfer $10,000 $200,000 Oats Sources Public records Public records Effective Date of Data Sources January 28 2007 January 28 2007 Analysis of prior sale or transfer history of the subject property and comparable sales Sale 4 previous sale occurred in 11/05 for$200,000.The duplex was being renovated by the current purchaser a contractor when the property owner died.The current property owner purchased the property from the estate with the sales price reflecting the unfinished condition.It was not leased at the time of sale due to the uninhabitable condition of the improvements as flooring,appliances and painting was needed per current owner. Analysis/Comments Freddie Mac Form 72 March 2005 Fannie Mae Form 1025 March 2005 Form 1025.(AC)—"TOTAL for Windows"appraisal software by a la mode,Inc.—1-800-ALAMODE Supplemental Addendum File No.270059 File No. 270059 Borrower Client Client:Boynton Beach CRA Property Address 402 NW 12th Ave CltV Boynton Beach County Palm Beach State FL Zip Code 33435-3097 Lender Boynton Beach CRA Purpose of Report: The purpose of this summary appraisal report is to estimate the market value, fee simple estate, of the subject property as of January 26,2007. Intended Use/User of the Report: The intended use of this report is to provide the client, Boynton Beach CRA.with a supportable estimate of value for the subject property which can be utilized for possible acquisition purposes. This appraisal report may not be suitable for other purposes. Client Disclosure: This summary appraisal report has been prepared for Boynton Beach CRA and/or assigns. Use of this report by others is not intended by the appraiser. Scope of Assignment: The traditional appraisal approaches include the cost approach, the sales comparison approach, and the income capitalization approach. We have considered all three approaches in this assignment, and applied the income and sales comparison approaches in our valuation. The cost approach is based on the principle of substitution, i.e. a buyer would pay no more for a property than the cost of acquiring a like site and constructing improvements with the same utility. This approach is most applicable when improvements are new and represent the highest and best use of the property and for special purpose properties when no comparisons are available.The older the improvements, however,the less reliable the approach becomes, due to the difficulty in estimating and supporting depreciation for older improvements.According to Palm beach County Property Appraisers Office, the subject was originally constructed in 1959. However, the cost approach has been utilized. It is the appraisers'view that an investor in the case of the subject would not make his investment decision based on a cost analysis. Depreciation is difficult to isolate and quantify in older buildings and this limits the reliability of the cost approach. The appraisers have relied on the income capitalization and sales comparison approaches in valuing the subject property,which they believe a prudent investor would as well. In the process of gathering data for the sales comparison approach to value,we conducted a search of our appraisal files and public information services such as the Palm Beach County Property Appraisers public access system and the Palm Beach County Clerks Office, as well as subscription based information sources such as CoStarComps.com and RealQuest.com for comparable sales in the relevant market area.We searched for the most similar sales to the subject property. The sales ultimately selected for further analysis were the best comparable sales we were able to find in the West Palm Beach market.We obtained and verified additional information on the comparable properties with a party to the transaction,or a broker or agent of the parties when possible. Rental data was gathered through the use of online services such as MLS and Loopnet as well as a search of the local market around the subject and a review of this office's past appraisal files. We inspected the interior and exterior of the subject property and the exterior of the comparables. Physical data pertaining to the subject property was obtained from personal inspection of the interior and exterior, site and partial building plans,and public information sources. We make no warranty as to the authenticity and reliability of representations made by those with whom we verified sales, rental and other information.We have taken due care in attempting to verify the data utilized in this analysis. We based our analysis and conclusions on overall patterns rather than on specific representations. This appraisal is presented in a summary report. Form TADD—"TOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE Supplemental AddendumFile No.270059 File No. 270059 Borrower Client Client:Boynton Beach CRA Properly Address 402 NW 12th Ave City Boynton Beach County Palm Beach State FL Zip Code 33435-3097 Lender Boynton Beach CRA Sales History: A title search for the subject property has not been provided and this appraiser has not ordered or performed one. The research that has been conducted(in house computer search of the Palm Beach County public records through First American Real Estates Solutions and Win2Data indicated that the subject property has not sold or changed hands in the open market within the past five years.The subject was purchased in January,2001 for$10,000 as in O.R. Book 12283, Page 0840.Since that time,the owner stated that she spent$40,000 improving the property. 2006 Assessed Value and Taxes: The subject property has been assessed by the Palm Beach County Tax Assessor's office for a total value of $70,590 with$46,578 attributed to the improvements and$24,012 attributed to the site, indicating a total tax liability of$1,754.The taxes have been paid. Home and Mold Inspection Recommended: Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property that would make the property more or less valuable.The appraiser makes no guarantees or warranties, express or implied, regarding the condition of the property. This summary appraisal report is not a home inspection and cannot be relied upon to disclose defects or conditions in the property.The appraiser performs an inspection of visible and accessible areas only. Mold may be present in areas the appraiser cannot see. A professional home inspection or environmental inspection is recommended. Structural Assumption: The final value assumes that there are no structural defects in the building. The appraiser reserves the right to amend the appraisal subject to any adverse findings. An inspection by a certified general contractor is recommended. Form TAOD—"TOTAL for Windows"appraisal software by a la made,inc.—1-800-ALAMODE File Na.270059 Subject Photos Borrower Client Client:Boynton Beach CRA Property Address 402 NW 12th Ave City Boynton Beach CoUntV Palm Beach State FL Zip Code 33435-3097 Lender Boynton Beach CRA Subject Front �{Sj}fi{£�}�l 402 NW 12th Ave :iisNo � 11� i I Subject Rear l Subject Street F t 4 „ a Form PICPIX.TR—"TOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE Anderson&Carr,Inc. File No.270059 Photograph Addendum Borrower Client Client:Boynton Beach CRA Property Address 402 NW 12th Ave city Boynton Beach County Palm Beach State FL Tp Code 33435.3097 Lender Boynton Beach CRA t+ + ��i)\{111.,(t{�+a�� t yah 1+ i Unit A Unit A - ��f�\}�}y�lthi4lto 1 if sr��zt1*m uw r d 14� Int, f r 1 Unit A Unit B (1g"- t 1 i tiSt+ ` i t aer �{1 Utrl��SV'. � i Unit B Unit B Form PICSIX—"TOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE File No.27oD59 Comparable Photo Page Borrower Client Client:Boynton Beach CRA Property Address 402 NW 12th Ave MtV Boynton Beach countv Palm Beach State FL Zip Code 33435-3097 Lender Boynton Beach CRA Comparable 1 201 NW 7th Court 7 i lit t t t s s F,r \t7t� �`j� 4rititl�`�r ,��1 �iS� ;J_ 1 i 9 "tt�aU1 t�Tyt�Stii u1 �ih�r��1 �r`i1r)t iti 3 � } T,r ' iC ii�t�t4 ri��>� ih,r==itat Jlyfl�rY�t?tr - 7 .�A,kr Comparable 2 203 SE 4th Ave �i AW 11,t'� Comparable 3 207 SE 4th Ave s �F u� S -v �tU Form PICPIX.BR—"TOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE File No.270059 Comparable Photo Page Borrower Client Client:Boynton Beach CRA Property Address 402 NW 12th Ave City Boynton Beach County Palm Beach State FL Zip Code 33435-3097 Lender Boynton Beach CRA Comparable 4 807 NE 3rd Street a Form PICPIX.BR—"TOTAL for Windows"appraisal software by a la made,inc.—1-800-ALAMODE File No.270059 Building Sketch (Page - 1) Borrower Client Client.Boynton Beach CRA PropertV Address 402 NW 12th Ave GitV Boynton Beach Gormtv Palm Beach State FL Zip Code 33435-3097 Lender Boynton Beach CRA 13.ao Bedroom Bath Kitchen Dining Entry Living Room Bedroom Bath Kitchen Dining Entry Living Room iaoo Sketch by Apex IV- Comments: AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN Code Description Net Size Net Totals Breakdown Subtotals GLA1 First Floor 910.00 910.00 First Floor 13.00 x 70.00 910.00 Net LIVABLE Area (Rounded) 910 1 Item (Rounded) 910 Form SKT.BldSkITOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE File No.270059 Plat Map Borrower Client Client:Boynton Beach CRA Property Address 402 NW 12th Ave City Boynton Beach County Palm Beach State FL Zip Cade 33435-3097 Lender Boynton Beach CRA Ii I 1-D I 100'4180 17014160 p 40M 4100 1ZDI141404150 0110 3240 3220 :3180 L 00W 70 �rr Form MAP.PLAT—"TOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE File No.270059 Aerial Map Borrower Client Client:Boynton Beach CRA Property Address 402 NW 12th Ave CjtV Boynton Beach County Palm Beach State FL Zip Code 33435.3097 Lender Boynton Beach CRA � '«14 3 Al WT a It�1�- r§ flt \ ' v 4 f 1 m i \iLu' I 1"Wl i A , 1 , Ory Form MAP.Site—"TOTAL for Windows"appraisal software by a la made,inc.—1-800-ALAMODE File No.270059 Comparable Sales Map Borrower Client Client:Boynton Beach CRA Property Address 402 NW 12th Ave Cil Boynton Beach GoUfltV Palm Beach State FL Zip Code 33435-3097 Lender Boynton Beach CRA Win T, Tree o � c' �)I MapPoint r $wi +P hetPer tE€httelBtly Palm B A t; — its IPadt ofII jdm':e.Toe=Rtl= - � =Fld s T L Menton € I 1n a-Ra LuciBa or ' Ga I Ln pF� o' iN�K4Une Dr- P e PohR m 5{D cIleenYer Rd V Hill,RdaeN P.J. , Perlwlnkie Z taia4rq qub c '',. y Brown Rd Brawn RCor 1 Arthro 1.Y {�A Atte Rd... 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SW 231d.Aa - 0r - Form MAP.Comp—"TOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE Supplemental Addendum dile No.270059 File No. 270059 Borrower Client Client,Boynton Beach CRA Property Address 402 NW 12th Ave City Boynton Beach County Palm Beach State FL Zip Code 33435.3097 Lender Boynton Beach CRA QUALIFICATIONS OF APPRAISER ROBERT B.BANTING,MAI,SRA PROFESSIONAL DESIGNATIONS-YEAR RECEIVED MAI- Member Appraisal Institute-1984 SRA- Senior Residential Appraiser,Appraisal Institute-1977 SRPA-Senior Real Property Appraiser,Appraisal Institute-1980 State-Certified General Real Estate Appraiser,State of Florida,License No.RZ4-1991 EDUCATION AND SPECIAL TRAINING Licensed Real Estate Broker-43748-State of Florida Graduate,University of Florida,College of Business Administration,BSBA(Major-Real Estate&Urban Land Studies)1973 Successfully completed and passed the following Society of Real Estate Appraisers(SREA)and American Institute of Real Estate Appraisers(AIREA)courses and/or exams:Note:the SREA&AIREA merged in 1991 to form the Appraisal Institute. SREA R2: Case Study of Single Family Residence SREA 201: Principles of Income Property Appraising SREA: Single Family Residence Demonstration Report SREA: Income Property Demonstration Report AIREA 1B: Capitalization Theory and Techniques SREA 101: Introduction to Appraising Real Property AREA: Case Studies in Real Estate Valuation AIREA: Standards of Professional Practice AIREA: Introduction to Real Estate Investment Analysis AIREA 2-2: Valuation Analysis and Report Writing AIREA: Comprehensive Examination AIREA: Litigation Valuation AIREA: Standards of Professional Practice Part C ATTENDED VARIOUS APPRAISAL SEMINARS AND COURSES INCLUDING The Internet and Appraising Golf Course Valuation Discounting Condominiums&Subdivisions Narrative Report Writing - Appraising for Condemnation Condemnation:Legal Rules&Appraisal Practices Condominium Appraisal Reviewing Appraisals Analyzing Commercial Lease Clauses Eminent Domain Trials Tax Considerations in Real Estate Testing Reasonableness/Discounted Cash Flow Mortgage Equity Analysis Partnerships&Syndications Hotel and Motel Valuation Advanced Appraisal Techniques Federal Appraisal Requirements Analytic Uses of Computer in the Appraisal Shop Valuation of Leases and Leaseholds Valuation Litigation Mock Trial Residential Construction From The Inside Out Rates,Ratios,and Reasonableness Analyzing Income Producing Properties Development of Major/Large Residential Projects Standards of Professional Practice Regression Analysis In Appraisal Practice Federal Appraisal Requirements Engaged in appraising and consulting assignments including market research,rental studies,feasibility analysis,expert witness testimony,cash flow analysis,settlement conferences,and brokerage covering all types of real estate since 1972. President of Anderson&Carr,Inc.,Realtors and Appraisers,established 1947 Past President Palm Beach County Chapter,Society of Real Estate Appraisers(SREA) Realtor Member of Central Palm Beach County Association of Realtors Special Master for Palm Beach County Properly Appraisal Adjustment Board Qualified as an Expert Witness providing testimony in matters of condemnation,property disputes,bankruptcy court, foreclosures,and other issues of real property valuation. Member of Admissions Committee,Appraisal Institute-Saudi Florida Chapter Member of Review and Counseling Committee,Appraisal Institute-South Florida Chapter Approved appraiser for State of Florida,Department of Transportation and Department Natural Resources. Instructor of seminars,sponsored by the West Palm Beach Board of Realtors. Authored articles for The Palm Beach Post and Realtor newsletter. Real Estate Advisory Board Member,University of Florida. TYPES OF PROPERTY APPRAISED-PARTIAL LISTING Air Rights Medical Buildings Apartment Buildings Churches Amusement Parks Department Stores Hotels-Motels Marinas Condominiums Industrial Buildings Office Buildings Shopping Centers Residences-All Types Mobile Home Parks Service Stations Leasehold Interests Special Purpose Buildings Restaurants Golf Courses Financial Institutions Auto Dealerships Vacant Lots-Acreage Residential Projects Easements "I am currently certified under the continuing education program of the Appraisal Institute." Form TADD—"TOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE Supplemental Addendum File No.270059 File Na. 270059 Borrower Client Client-Boynton Beach CRA Property Address 402 NW 12th Ave City Boynton Beach County Palm Beach State FL Zip Code 33435-3097 Lender Boynton Beach CRA QUALIFICATIONS OF APPRAISER CYNTHIA A.BENNETT GENERAL,INFORMATION Licensed Real Estate Broker-State of Florida State Certified Residential Real Estate Appraiser#RD4014 EDUCATION AND SPECIAL TRAINING Quinnipiac College,2 years Successfully completed and passed the following courses: ABI: Licensed Residential Appraisal Course 1 - 10/93 AB2: Certified Residential Appraisal Course 2- 11/93 A133: Certified General Appraisal Course 3 - 12/93 A132: Residential Real Estate Appraisal Techniques- 12/95,5/02 Real Estate Finance-8/96,7/02 Seminars: Red Flags:Property Inspection-6/98 Environmental Considerations-6/98 Supporting Sales Comparison Grid Adjustments-3/99 FHA 4150-2 Seminar-9/00 Small Residential Income Property-3/02 Engaged in research and appraising real estate with Anderson and Carr,Inc.since March of 1994. Resident of Palm Beach County since 1993. TYPES OF PROPERTY APPRAISED Vacant Commercial Land Professional Office Condominiums Vacant Residential Land Medical Office Condominiums Single Family Residences Improved Retail Commercial Residential Condominiums Apartment Buildings Special Purpose Properties Office Buildings Agricultural Land Industrial Buildings Acreage Churches Warehouses Form TADD—"TOTAL for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE Supplemental AddendumFile Na.270059 File No, 270059 Borrower Client Client:Bo nton Beach CRA Property Address 402 NW 12th Ave City Boynton Beach County Palm Beach State FL Zip Code 33435.3097 Lender Boynton Beach CRA A. I certify that,to the best of my knowledge and belief,the reported analysis,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. B. I certify that the use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representative. C. The appraisers have performed within the context of the competency provision of the Uniform Standards of Professional Appraisal Practice. D.The use of this report is subject to the requirements of the Appraisal Institute and the State of Florida Division of Real Estate, Florida Real Estate Board,relating to review by their duly authorized representatives. E. This appraisal report has been prepared for the exclusive benefit of the client.It may not be used or relied upon by any other party.Any party who uses or relies upon any information in this report,without the preparer's written consent,does so at this own risk.If this report is placed in the hands of anyone but the client,client shall make such party aware of all the Assumptions and Limiting Conditions ofthis assignment. F. As of the date of this report, Robert B. Banting, MAI, SRA has completed the requirements of the continuing education program of the Appraisal Institute. G.ACCEPTANCE OF,AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES ACCEPTANCE OF THE PRECEDING CONDITIONS. Form TADD—"TOTAL for Windows"appraisal software by a la mode,!no.—1-800-ALAMODE a Wt a t for Humanl y January 31, 2022 Thuy Shutt Executive Director 100 E Ocean Ave 4th floor Boynton Beach, FL 33435 Re; Letter of Interest Dear Ms. Shutt, Attached please find a map of a vacant properties at 402 NW 12th Ave. (PCM 08-43-45- 21-14-000-4150), and 404 NW 12th Ave. (PCN 08-43-45-21-14-000-4140) which Habitat for Humanity of South Palm Beach County respectfully requests that the Boynton Beach Community Redevelopment Authority transfer to Habitat for Humanity of South Palm Beach County. Such approval would enable us to construct a single-family home consisting of 3 Bedrooms, 2 Bathrooms, a 1 Car Garage, All Tile, Hurricane Impact Windows, Double Truss Strapping, Owen's Corning 20 Year Architectural Shingle hoof, Landscape with Sprinkler System, Stucco Siding to Resemble Hardy Board, Covered Porch lined with Columns and Railings, Whirlpool Appliances, Pastel Color Exterior. The timeline to complete each project would be 24 months from closing. Pictures of representative homes are attached. We feel that with the help of the Boynton Beach CRA we can continue to meet our mission to upgrade the Boynton Beach community and provide affordable and attainable housing to low-income families who need it the most. Sincerely, 1 Jeffery Fengler Director of Construction Habitat for Humanity SPDC ° f fie'g 561-371-2191 Attachment 1 Pictured homes are representative samples of homes that Habitat S BC builds. Final home design will be determined based on the actual size of the property. 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'`7 r s ,r a ar3 arr t Y r?.�f r.�}45 '� +}}�}r�rk`•a ti� Y� f� t � 6-�r-'�� a `y i r v you - ru Meeting Minutes CRA Board Boynton Beach. Florida March 9, 2022 some of the units did not include three-bedroom units, but Related stated they could make some of the larger units to fruition and as far as Hurricane Alley and the historical component, they agreed to put $1.25M towards preservation of the Oyer building and they could negotiate how to fit Kim Kelly, but they did not do so unless they got direction from the Board for this negotiation. Board Member Romelus stated that was her plea to the Board to look at the numbers as they made sense. She stated they could make the decision to cease negotiations with Affiliated and start with Related. Still gives us 30% up front start negotiating with related. Related had 30% of their units for workforce and 63 units affordable in perpetuity. The Board had compared proposals. Related's option was not a purchase option. It was a land lease. Chair Grant recommended the decision goes to the next Board. He commended Affiliated for all they have done and recognized the project is far and beyond reflecting why they have received so many awards in so many cities and it shows why no other construction projects have occurred in Boynton Beach because it is very difficult to work with a Board that does not always agree on things. He thanked them for their time and effort and hoped the new Board would support the project and see things the way he did, having all of Ocean Avenue as part of the project. Chair Grant recessed the meeting for a short break at 10:32 p.m. and reconvened the meeting at 10:42 p.m. 17. New Business A. Audited Financial Statements - FY 20-21, Fiscal Year Ended September 30, 2021 Vicki Hill, Finance Director, stated their auditor, Sansone Kline Giacaimino and Tandoc, representative was out of town. She reviewed their financial audit and announced there were no internal control deficiencies found, no findings of non- compliance issues or adjustments found. Their cash position remains strong and all funds had sufficient fund balance for working capital and ongoing project funding. She noted this was the 13th year in a row they received a clean audit opinion for the financial operations of the agency. She thanked their auditing firm and Jobara Jenkins, Accounting and Finance Manager, who worked tirelessly to ensure they were in compliance. Motion Board Member Penserga moved to approve the Audited Financial Statement. Vice Chair Hay seconded the motion. The motion passed unanimously. Board Member Romelus commended Ms. Hill and Ms. Jenkins B. Discussion and Consideration of a Letter of Intent from Habitat for Humanity of South Palm Beach County for the Boynton Beach CRA-owned Properties located at 402 and 404 NW 12th Avenue 28 Meeting Minutes CRA Board Boynton Beach. Florida March 9, 2022 Ms. Shutt presented the item for infill housing. The request was to transfer the land to Habitat for Humanity. This was the property they acquired at the last auction. This is the property down the street from the property they previously gave Habitat. Motion Board Member Penserga moved to approve. Vice Chair Hay seconded the motion. The motion passed unanimously. C. Consideration of Modifications to the Terms of the Homebuyer Assistance Program Grant Agreement between Ian and Tosi Rigby and the CRA Mr. Tack commented the Board had previously approved this award to the above for $50K for a new home at 717 NW 2nd Street. They have been in the home for 13 years. On January 6, 2020, they approved a sale and waived a promissory note if they would try to sell property to an income qualified buyer. On February 28t", the CRA received a letter for the CRA to consider a waiver or change to the promissory note to allow them to refinance the home without repayment of the entire principal balance and interest and use a small portion of the equity to pay debts, bills and outstanding obligations. Under the note, there were conditions that apply if they want to refinance the property. If they refinance, they have to repay the entire principal balance in full to the lender with 4% interest per annum calculated from the time of purchase of the property and if the GRA approved the refinance, the CRA will have to execute a subordination agreement. Under the terms of the subordination policy, the CRA does not support the owner using the equity for anything other than the house. If the purpose of the loan is home improvements or maintenance of the property, the property has to be inspected by a CRA staff member and a contract for the proposed repairs must be provided by the homeowner. The CRA will not subordinate its mortgage for owners attempting to attain a line of credit or consolidate debt as this will enable them to increase their debt for purposes other than home improvement. If the owner wants to refinance the first mortgage for a lower rate or shorter term, they can do so under certain conditions which he read. The individual has to own the home for 30 years. This is a legacy thing. Chair Grant requested the Board remove the second lien on the property so they can do what they like. Motion Vice Chair Hay so moved. Board Member Romelus seconded the motion. The motion passed unanimously. The Board forgave the principal and did not collect on the interest. D. Discussion and Consideration of a Consent and Funding Agreement between the CRA, the City of Boynton Beach, TD BANK, N.A., and Centennial Management Corp.ANelis Landing Apartments, LLC for the MLK Jr. Boulevard Corridor Mixed Use Project 29 '1he Palm Beadi, Post Ralm Beach Daily News PROOF OF PUBLICATION STATE OF FLORIDA BOYNTON BEACH CRA COUNTY OF PALM BEACH 100TH EAST OCEAN AVE 4TH FLOOR NOTICEPUBLIC BOYNTON BEACH, FL 33435-3910 Before the undersigned authority, personally appeared Said Legal Clerk, who on oath, says that he/she is a Legal Advertising Representative of The Palm Beach Post, a daily and Sunday newspaper, published in West Palm Beach and distributed in Palm Beach County, Martin County, and St. Lucie County, Florida; that the attached copy of advertising for a Legal - PublicNotice was published in said newspaper in issues dated: first date of Publication 03/18/2022 and last date of Publication 03/18/2022. or by publication on the newspaper's website. Affiant further says that the said The Palm Beach Post is a newspaper published in West Palm Beach, in said Palm Beach County, Florida and that the said newspaper has heretofore been continuously published in said Palm Beach County, Florida, daily and Sunday and has been entered as second class mail matter at the post office in West Palm Beach, in said Palm Beach County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that he/she has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in said newspaper. Invoice/Order Number: 0000690203 Ad Cost: $309.60 Paid: $0.00 Balance Due: $309.60 Signed at (Legal Advertising Agent) Sworn or affirmed to, and subscribed before me, this 7th day of April, 2022 n Testimony whereof, I have hereunto set my hand and affixed my official seal, the day and year aforesaid. f• APRIL I CONWAY Signed -4 Commission#HH 281 � ,E,.i Lwprvs May2,1�42P° i - T+r Go"'lou Troy Fs n 9n rr re 100 36579/9 pi Please see Ad on following page(s). Page 1 of 2 BOYNTON BEACH CRA 100TH EAST OCEAN AVE 4TH FLOOR BOYNTON BEACH,FL 33435-3910 Invoice/Order Number: 0000690203 Ad Cost: $309.60 Paid: $0.00 Balance Due: $309.60 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY NOTICE OF INTENT TO DISPOSE OF REAL PROPERTY (Section 163.380,F.S.) This notice is being published to satisfy tate procedural requirements for activi- ties to be tindertaken by the Boynton Re:ach.. Community Redevelopment Agency., a public agency created f'aur"- sra:an, to Chapter 163, Part lil, of tltc Florida sttatu!res. Pursuant to Section 163.380(3)(x.), Flori- da Statutes.. the Boynton Reach Com- munity Redevelopment firmjency (-148- CRA') hereby provides notice of its in- tent to itisp{ose cif a Parcel of real#:WO - erty to Habitat for Humanity of South Palm Beach County, pursurantto the, approval of Boynton Beach Community Reelevelcapnterzt. A;,fancy Board on March `3.. 202:x. wt-sic parcels.arta ("ore particularly identifiaecl as followr Addresses: .4.02 NW 12th Avenue,. Bevy nton n eac h,F1..3343.5 PNC 008-43-45-21-14-000-4150 Lot 415 of Cherry Huts, according to the plat thereof as recorded in Plat.'.. Book 4, Pages 58 Of the Public Record$ of Palm Reach County, Florida, LLss..... AND EXCEPT that portion deeded to Palm Reach County in O.R. Book, 4383, '.... Page 355,described as follows: Begin at the Northeast corner of said Lot 415, thence South 03'47"23" Fast,,:.. along the Easterly line of, said l..ot. 41.5 for a diatanr-e of 24.23 feet to the... point of rurvaatore= of a circular curve concave to the *southwest and F)avinc� for its eientents a central angle of 88"11'44" and Ta radius of 25.00 feet., thence Northerly, Northwesterly and Westerly alcor-rg said cumin"' for an arc 'Aktanee. of 313..48 feet to the point of.. tart 3enttyy said :>o las inors rise Northerlyy lines of said Lot 41.5, thence, North 88100'53" East along said North arty Lot Line fr,•.ir a dist.^rscrry of 2+1.23 'f'eet to the Point of Se=ginning.. and 404 NW 12th Avenve, Boynton.Beach,FL 33435 PNC 408-43-45-21-14-000-41140 Lint 414, Chei ry Hells, accordinc to tits Plat thereof, ;as recorded in Plat, Book 4, Pare 5€1, of the Public Records of Palin beach County, Florida This intent to dispose of real prnperty serves the Public purpow of acsnstruct- ing an affordable single family home putsuarat to the Goals and Princ.ililes Of the 2016 Boynton beach C:ommunity'.. Redevelcipmer'at. P#aIi,. Thp 2016'.. Boynton Reach Community Redevelop, tient Plan may he viewed al the CRA`s website: ht. ias;Alww.i cayrncantaea Ftcra ,corTi/abtjut-falacra/plans-and.- d'ocuments Parties Interested in making proposals for the above property iriust sulantit "a farespo5al within 3€3 days of March 18, .xG22, which is the l ubtitation date of this raotire. Additional information re- lated to the iriteot to dispose rn ay be obtained frorn the CRA at 100 E. Ocean. Avenue, 4th Floor, Baynton Beach, Flor- ida, 33435, Telephone Number (561) 600-3094. 3-18/2022 -'�i aR ra9 rain 9ri:?.rat-ri 1 Page 2 of 2 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY NOTICE OF INTENT TO DISPOSE OF REAL PROPERTY (Section 163.380, F.S.) This notice is being published to satisfy the procedural requirements for activities to be undertaken by the Boynton Beach Community Redevelopment Agency, a public agency created pursuant to Chapter 163, Part III, of the Florida Statutes. Pursuant to Section 163.380(3)(a), Florida Statutes, the Boynton Beach Community Redevelopment Agency ("BBCRA") hereby provides notice of its intent to dispose of a parcel of real property to Habitat for Humanity of South Palm Beach County,pursuant to the approval of Boynton Beach Community Redevelopment Agency Board on March 9, 2022, which parcels are more particularly identified as follows: Addresses: 402 NW 12th Avenue, Boynton Beach, FL 33435 PNC #08-43-45-21-14-000-4150 Lot 415 of Cherry Hills, according to the plat thereof as recorded in Plat Book 4, Page 58 of the Public Records of Palm Beach County, Florida, LESS AND EXCEPT that portion deeded to Palm Beach County in O.R. Book 4383, Page 355, described as follows: Begin at the Northeast corner of said Lot 415; thence South 03047'23" East, along the Easterly line of said Lot 415 for a distance of 24.23 feet to the point of curvature of a circular curve concave to the Southwest and having for its elements a central angle of 88011'44" and a radius of 25.00 feet; thence Northerly, Northwesterly and Westerly along said curve for an arc distance of 38.48 feet to the point of tangency, said point being on the Northerly line of said Lot 415; thence North 88000'53" East along said Northerly Lot Line for a distance of 24.23 feet to the Point of Beginning. and 404 NW 12th Avenue, Boynton Beach, FL 33435 PNC #08-43-45-21-14-000-4140 Lot 414, Cherry Hills, according to the Plat thereof, as recorded in Plat Book 4, Page 58, of the Public Records of Palm Beach County, Florida This intent to dispose of real property serves the public purpose of constructing an affordable single family home pursuant to the Goals and Principles of the 2016 Boynton Beach Community Redevelopment Plan. The 2016 Boynton Beach Community Redevelopment Plan may be viewed at the CRA's website: https://www.boyntonbeachcra.com/about-bbcra/plans-and-documents Parties interested in making proposals for the above property must submit a proposal within 30 days of March 18, 2022, which is the publication date of this notice. Additional information related to the intent to dispose may be obtained from the CRA at 100 E. Ocean Avenue, 4th Floor, Boynton Beach, Florida, 33435, Telephone Number(561) 600-9094. 9®� 2191 N. Seacrest Boulevard Post Office Box 337 Boynton Beach,FL 33425 Phone: 561-752-0303 Fax: 561-244-5046 https:llwww.boyntonbeachcdc.org/ April 18, 2022 Thuy Shutt Executive Director Boynton Beach CRA 100 E Ocean Ave Boynton Beach, FL 33425 Dear Ms. Shutt: I am writing in response to Boynton Beach Redevelopment Agency(Boynton Beach CRA) public posting of the Notice of Intent to Dispose of Real Property of the following two parcels described as: 1. 404 NW 12th Ave, Boynton Beach, FL 33435 (Parcel ID: 08-43-45-21-14-000-4140) 2. 402 NW 12th Ave, Boynton Beach, FL 33435 (Parcel ID: 08-43-45-21-14-000-4150) Boynton Beach Faith Based Community Development Corporation (Boynton Beach CDC) is the only`Boynton-based" 501(c)(3) non-profit affordable housing developer in Boynton Beach. We are an experienced affordable housing developer, and since our inception in 1999, we have been involved in developing/creating affordable single-family and rental housing for lower-wage buyers and tenants. We embrace collaboration, and whenever possible, we partner with other area housing agencies, developers, local builders, and other non-profit entities to advance our affordable housing agenda. Our efforts have produced more than 255 affordable housing units through our housing development program and assisted more than 355 participants in achieving homeownership. Additionally, we have provided homebuyer education and counseling to more than 3,500 participants. The CDC is presently completing the construction of the final home of a twenty(20)unit scattered-site "new-home" development project we commenced in 2012. Additionally, we acquired and renovated forty-eight(48) distressed/foreclosed homes within the past seven years. Forty-five (45) were sold to eligible buyers, and three currently(3)provide affordable rental housing for very low-income residents. We also purchased and renovated an abandoned four-unit building and a five-bedroom single-family home that presently offers supportive housing for fifteen(15) special needs individuals. We actively seek vacant lots to acquire to continue our affordable housing development activity. However, there is a shortage of available vacant land for sale in Boynton Beach, especially in the HOB neighborhoods. Our search for vacant lots produced only the two lots in the past four years. In late 2019, the City of Boynton Beach donated five (5) vacant lots to the CDC on NW I Ith Avenue. We have built and sold four(4)homes on these lots, and we are completing the construction of the final(5th)home in the coming weeks. The low inventory of"reasonably priced"vacant lots in Boynton Beach significantly hampers our ability to continue our affordable housing development efforts. If reasonably-priced vacant land is not available for purchase, our affordable housing development activities will cease, and homeownership opportunities for lower-wage individuals/families in Boynton Beach will no longer be viable. Our buyers typically do not have the income necessary to purchase market-priced homes outright on the open market. "Development subsidy" in the form of below-market priced homes and down- payment assistance is needed for our lower-wage clients to achieve their homeownership goal. We do not benefit from the generous donations of corporate sponsors and benefactors. The reduced price (development subsidy gift) we provide to our buyers is dependent on the availability of reasonably rp iced lots or generous lot donations from the City and CRA. When we build homes on "City/CRA- donated" lots, we sell them below market value to our home buyers. Our clients do not have the income and financial means to purchase "market rate"homes, especially in this investor-driven"hot"seller's real estate market. However,we are committed to serving that market niche of lower-wage families. Our only means of achieving that goal is through lot donations from the City/CRA and purchasing reasonably priced lots. We do not benefit from the generous contributions of national corporate sponsors and benefactors and therefore cannot compete with organizations that receive such generosity.We are a"locally driven"non-profit affordable housing developer that local community residents birthed. We acquire lots through purchases and donations to accomplish our housing development goals. This is NOT_a request to donate the referenced lots, although we would gladly accept them as donations. Instead, this request is to purchase the lots at a reasonable price to allow Boynton Beach CDC to continue to create affordable housing units for residents of Boynton Beach, as well as provide a vehicle for the CRA to continue to invest in the creation of decent, safe, affordable housing in the HOB. Your consideration and acceptance of the attached Letter of Intent(LOI) or a reasonable counter- offer will facilitate the continuation of the CDC's affordable housing activity while allowing the CRA to continue to play a critical role in furthering the advancement of housing opportunities for lower-income families in the HOB. It will also accomplish a national housing objective of providing/creating safe, decent, affordable housing for lower-income households. Thank you for your time and consideration. Should you have any questions or need additional information, I can be reached at 561-752-0303 (work), or email at l�jb 1 fbc .c�y,',,, c ✓.2( LETTER OF INTENT 04/18/2022 From: Keturah Joseph, Executive Director of Boynton Beach Faith Based Community Dev. Corp 2191 N Seacrest Blvd Boynton, Beach, Florida 33435 To: Thuy Shutt, Executive Director, Boynton Beach Community Redevelopment Agency 100 E Ocean Avenue, Boynton Beach, FL 33425 Ms. Shutt: This letter of Intent (the "LOI") confirms the mutual interest, with regards to the transaction described herein, of the following parties: ("Buyer"): Boynton Beach Faith Based Community Development Corp ("Seller"): Boynton Beach Community Redevelopment Agency Buyer and Seller may be referred to individually as the "Party", or collectively, the "Parties". 1. Terms. The principal terms of the transaction contemplated herein (the "Prospective Transaction") would be substantially as follows: (a) Prospective Transaction. The transaction being contemplated by the Parties is as follows: (i) Purchase of the following two (2) vacant lots: 1. 402 NW 12th Ave, Boynton Beach (PCN:08-43-45-21-14-000-4150) Purchase price-$30,000 2. 404 NW 12th Ave, Boynton Beach (PCN:08-43-45-21-14-000-4140.) Purchase price-$30,000 (b) Consideration. Should a final agreement be made, the aggregate consideration for the company or interest to be purchased would be $60,000. (c) Liabilities. (i) Seller hereby acknowledge(s) that there are no liabilities, debts, or other obligations associated with the Prospective Transaction and agrees to disclose, in writing, any such information before any final agreement is executed. 2. Expenses. (a) Buyer and Seller will pay their respective expenses incident to this letter of intent and the transactions contemplated hereby and thereby. (b) Both Parties have represented to each other that no brokers or finders have been employed that would be entitled to a fee by reason of the transaction contemplated by this letter of intent 1 3. Public Announcements. Neither Party will make any announcement of the Prospective Transaction contemplated by this LOI prior to the execution of the final transaction agreement without the prior written approval of the other Party, which approval will not be unreasonably withheld or delayed. The foregoing shall not restrict in any respect the Parties ability to communicate information concerning this LOI and the Prospective Transaction contemplated hereby to the Parties and their respective affiliates', officers, directors, employees and professional advisers, and, to the extent relevant, to third parties whose consent is required in connection with the Prospective Transaction contemplated by this LOI. 4. Confidentiality. This LOI and any related discussions and correspondence are to be held in strict confidence by the Parties and may not to be disclosed to any party (other than counsel to, and the accountants of, the Parties to the extent reasonably necessary for such persons to render advice in connection with the Prospective Transaction) without the prior written approval of the other Party. 5. Due Diligence. (a) Buyer may conduct a due diligence inspection of the assets and records related to the Prospective Transaction, including facilities, books and records and any other pertinent documents or information. (b) Buyer agrees to maintain the confidentiality of all data and information related to the Prospective Transaction. (c) Buyer may commence its due diligence inspection immediately upon the execution of this LOI. 6. Closing. Completion of the Prospective Transaction is anticipated to take place on 06/17/2022, following the completion of formal legal documentation. 7. Valid and Partially-Binding. (a) Except for the provisions contained in clause 7(b) below, which are explicitly agreed by the Parties to be binding upon execution of this LOI, this LOI is not intended as a legally binding commitment by the Buyer, and any obligation on the part of the Buyer is subject to the following conditions precedent: completion of legal documentation satisfactory to the Parties, satisfactory completion of due diligence by the Buyer, and delivery of all closing deliverables described in the definitive agreements. (b) The Parties hereby explicitly agree that Sections 3, 4, and 5(b) of this LOI (the "Binding Clauses") are binding obligations of the Parties. The Binding Clauses will survive termination of this LOI. 8. Governing Law. This LOI shall be governed by the laws of the STATE OF FLORIDA 9. Counterpoints. This LOI may be executed in counterparts, including by facsimile, each of which shall be deemed to be an original, but all of which together shall constitute one agreement. 10. Titles and Headings. This title and headings used in this LOI are included for convenience and shall not affect the meaning of the LOI. 2 11. Severability. In the event any provision of this LOI is found to be illegal, invalid, or unenforceable, such provision will be severed from this LOI, and will not affect the legality, validity, or enforceability of any other provision contained in this LOI. 12. Expiration. This LOI expires on 08/18/2022. The Parties hereto have executed this LOI on the dates written below: By: .... ..... � 2022.__._____ Keturah Joseph Executive Director Boynton Beach Faith Based Community Development Corp By: Thuy Shutt Executive Director Boynton Beach Community Redevelopment Agency 3 BOYNTO 16iiii B E M �YYa4a�±r'Ari`,A Boynton Beach Community Redevelopment Agency Policy for Processing Letters of Intent to Purchase Property The Boynton Beach CRA ("CRA") will use the process outlined in this Policy for Processing Letters of Intent to Purchase Property ("Policy") to address any Letters of Intent to Purchase Property that the CRA receives that are not the result of a formal request for such letters. The Policy is designed to ensure a fair process for property disposal, furthers the goals and objectives of the 2016 Boynton Beach Community Redevelopment Plan, and acts in the best interest of the CRA. Letter of Intent Policy: When the CRA receives a Letter of Intent to purchase a property owned by the CRA, the CRA staff will add an item to the agenda of the next regularly scheduled CRA Board meeting to discuss the Letter of Intent. However, if the Letter of Intent is received by the CRA less than 5 days before the next regularly scheduled CRA Board meeting, the CRA staff will add the Letter of Intent item to the agenda of the next available regularly scheduled CRA Board meeting. The CRA staff will include the Letter of Intent and all supporting documents as backup to the Letter of Intent agenda item. At the regularly scheduled CRA Board meeting,the CRA Board may consider one of the following options upon receipt of a Letter of Intent to purchase a CRA-owned property: Option I - The CRA Board may accept the Letter of Intent and direct the CRA staff and legal counsel to negotiate the terms and conditions of a Purchase and Development to be presented at a future meeting and direct the CRA staff to issue a thirty(30)day Public Notice to Dispose. If during the Public Notice period, the CRA receives one or more additional Letters of Intent to purchase the same property, the CRA Board will direct the CRA staff and legal counsel to develop a request for proposal document to be presented to the CRA Board for their consideration at the next available meeting. The CRA will then follow its regular procedures for issuing requests for proposals, evaluating responses, and selecting the successful proposal(s); Option II - The CRA Board may determine that it is in the best interest of the CRA to solicit additional offers to purchase the property, the CRA Board will direct the CRA staff and legal counsel to develop a request for proposal document to be presented to the CRA Board for their consideration at the next available meeting. The CRA will then follow its regular procedures for issuing requests for proposals, evaluating responses,and selecting the successful proposal(s); or, Option III -The CRA Board may determine that it is in the best interest of the CRA to reject the terms and conditions of the Letter of Intent and elect not to proceed with any further action. 00849969-1 BOYNTO C D m,mBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 OLD BUSINESS AGENDAITEM: 13.13. SUBJECT: Discussion and Consideration of Letters of Intent for the Cottage District Infill Housing Redevelopment Project SUMMARY: The CRA owned vacant parcels identified as the Cottage District Project site is approximately 4.6 acres and is located between N. Seacrest Boulevard and NE 1st Street and NE 4th and NE 5th Avenues (see Attachment 1). It has long been thought that the best use for the site would be owner-occupied, single family detached, workforce-affordable homes or a mix of detached homes and townhouse style attached units under fee-simple ownership. On August 11, 2020, the C RA Board approved the issuance of the Cottage District I nfill Housing Redevelopment Project RFP/RFQ (see Attachment 11) for the development of owner-occupied, single family detached, workforce-affordable homes or a mix of detached homes and townhouse style attached units under fee-simple ownership. As required, the CRA obtained a property appraisal of the project site dated August 10, 2020, with an estimated market value of $1,893,000. The CRA recently purchased the remaining properties 115 NE 4th Avenue and 133 NE 4th Avenue and an updated appraisal was obtained on March 15, 2022, indicating an estimated market value of$2,472,000 (see Attachment 111). At the December 8, 2020 meeting, the CRA Board established the top three submissions as Boynton Beach Cottage District Development, LLC (BBCD); Pulte Home Company, LLC; and Azur Equities, LLC. The Board selected Azur Equities, LLC and directed staff to commence negotiations on April 13, 2021, after the first two developers withdrew from the process. On January 10, 2022, the CRA Board voted to terminate negotiations with Azur Equities, LLC for the Cottage District I nfill Housing Redevelopment Project. CRA staff received a Letter of Intent (LOI)from East to West Development Corporation on April 5, 2022 (see Attachment IV). The LO indicates the following: • CRA contribution of land • Total development cost is $10.5M • Total of 36 single family dwelling units • Average sell price of $292,000 ($195-$243 per square foot) but price points may be adjusted to account for land value and PBC income limits • Three models proposed ranging in size from approx. 1,200 s.f. to 1,500 s.f. with a mix of 3 and 4 bedrooms • 4th model for 25' wide lots for two bedroom units just under 1,200 s.f. • No garages, but will have a 16' concrete pad for two parking spaces • Sample of elevations provided but can add more options as part of Site Plan Approval process • Complete project within a two year timeframe CRA staff received a second Letter of I ntent (LOI)from Centennial Management Corporation on April 7, 2022, which was revised on April 11, 2022 (see Attachment V). The LOI indicates the following: • Purchase price of $1,893,000 • 36 Two-story attached townhouse units (3 bedroom/2.5 bath) with 2-car garage or 34 Two- story detached single-family units (3 bedroom/3 bath) with rear loaded parking options (no garages, carport option) • Three-story building containing 102 One and Two-bedroom unit multifamily senior housing rental units with a community center • $50,000 Deposit within five business days of purchase contract execution • Funding for the project will be through SAIL or 9% LI HTC funding from 2022 Florida Housing Finance Corporation (FHFC)Application cycle • Closing is subject to award of SAIL or 9% LI HTC funding and shall occur within 15 days from underwriting from FHFC On April 26, 2022, CRA staff received a third Letter of Intent (LOI) from Pulte Group (see Attachment VI). The LOI indicates the following: • Purchase price of $400,000 ($10,000 for each of the 40 units) • CRA Success Fee of 3% of the average sale price of $240,000 to be paid out quarterly to the CRA following home closings ($288,000 total cash) • Total offering of $688,000 ($400,000 purchase price and $288,000 Success Fee)financed entirely by Pulte Home Company, LLC without 3rd party lending approvals or state/local grants allowing the flexibility and quick response to reach a mutually beneficial agreement • No CRA subsidies or incentives needed • $70,000 total deposit ($10,000 refundable/$60,000 nonrefundable payments), nonrefundable after 120 day inspection period to be credited towards purchase price at closing • 40 total units (9 one-story single family detached units and 31 two-story single-family attached townhouse units); additional units to be added on 115 NE 4th Avenue and 133 NE 4th Avenue properties • Three single-family models proposed ranging in size from approx. 2,028 s.f. to 2,339 s.f. (2 car garage)with 3 and 4 bedroom/2 bath • Two townhouse models proposed ranging from 1,874 s.f. (interior units - 1 car garage) to 2,084 s.f. (end units -2 car garage) both with 3 bedroom/2.5 bath • Sales Price to comply with PBC Workforce Housing Program consisting of: Low income category(60-80%Area Median I ncome)at$168,420 Moderate 1 income category(>80-100%Area Median I ncome) at$216,540 Moderate 2 income category(>100-120%Area Median I ncome)at$264,660 Middle income category(>120-140%Area Median I ncome)at$312,780 • Entitlement period - 10 months after inspection period (14 months total) • Closing to occur 30 days after all land development permits and zoning and land use approvals are secured or 30 days after expiration of entitlement period, whichever comes first (11 months from contract execution) • 15 years affordability period maintained through a deed restriction • 30 day expiration On May 4, 2022, CRA staff received a fourth Letter of Intent (LOI) from Neighborhood Renaissance, Inc. (see Attachment VI 1). The LOI indicates the following: • Purchase price of $200,000 • Total development cost of$11.6 Million • Total of 36 detached fee simple cottage style single-family units • Average sale price of $220,000 • Four models with one and two stories, 3 bedroom/2 bath, and a garage with approximately 1,435 to 1,595 s.f. of living area and porches • Homes will be sold to first time homebuyers earning between 60-140% Area Median Income ($48,120 - $96,240) • 15 years affordability period maintained through deed restrictions and the HOA Declarations and Restrictions • Amenities to include a 0.2 acre park, open space, park benches, bus shelter, landscaping, and street lighting • Completion of the project within two years of execution of a Purchase and Development Agreement • Priority to local hiring and new employment training and contracting opportunities FISCAL IMPACT: FY2021-22 Budget, Project Fund, Line Item 02-58200-406 (Cottage District Project), $385,825 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Option I — The CRA Board may table the agenda item and direct CRA staff to issue a thirty (30) day Public Notice to Dispose. If during the Public Notice period, the CRA receives one or more additional Letters of Intent to purchase the same property, the additional Letters of Intent will be presented to the CRA Board for their consideration at the next available meeting; Option II - The CRA Board may accept a Letter of Intent and direct the CRA staff and legal counsel to negotiate the terms and conditions of a Purchase and Development Agreement to be presented at a future meeting and direct the CRA staff to issue a thirty (30) day Public Notice to Dispose. If during the Public Notice period, the CRA receives one or more additional Letters of Intent to purchase the same property, the CRA Board will direct CRA staff and legal counsel to develop a request for proposal document to be presented to the CRA Board for their consideration at the next available meeting; Option I I I - The CRA Board may determine that it is in the best interest of the CRA to solicit additional offers to purchase the property, the CRA Board will direct CRA staff and legal counsel to develop a request for proposal document to be presented to the CRA Board for their consideration at the next available meeting; Option IV - The CRA Board may determine that it is in the best interest of the CRA to reject the terms and conditions of the Letter of I ntent and elect not to proceed with any further action; or Option V -Alternative direction as determined by the CRA Board. ATTACHMENTS: Description D Attachment I -Cottage District Location Map D Attachment II -2020 Cottage District RFP/RFQ and Addenda D Attachment III - March 15, 2022 Vance Cottage District Appraisal D Attachment IV - East to West Development Corporation LOI D Attachment V -Centennial Management Corporation LOI (revised April 1, 2022) D Attachment VI - Pulte Group LOI D Attachment VII - Neighborhood Renaissance, Inc. LOI D Attachment VIII -CRA Policy for Processing Letters of Intent 1, 2 �4 t� 11, �!£ �1W.x1U ' t r � r£, £ 2,Wr } }�1� CL £ ba CL co Ij r' i r 4 v £ r sr}£r t r, i � r 1 u � o �!r'�L�?��S�S�hl��t1,:r, ii�fli��4��i '2}�5} ��! ��r,�l�VAi �,1,•*��l�,1�)JW�. �tl._,�s �. �-., £,a� „_._.. -- ` z� A„4, ,;,., ,.,,,f i�£;_ r r f \i s£ t f 1 - � f� 2 £ s i t B EACH .. . Cv1 `r iUK ' t Op, F "'nes3 A BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY REQUEST FOR PROPOSALS AND DEVELOPER QUALIFICATIONS COTTAGE DISTRICT INFILL HOUSING REDEVELOPMENT PROJECT Location: Between N.E. 4th and N.E. 5th Avenues and N. Seacrest Boulevard and N.E. 1St Street Boynton Beach, Florida Issue Date: August 17, 2020 Submittal Date: October 23, 2020, no later than 3:00 p.m. (EST) J, ), s 3 s ss��t}�l4 t4 �( st sst �t � "tt�i111 z,�1Vt i t \ � 01353549-2 Page 1 of 36 The Boynton Beach Community Redevelopment Agency (BBCRA) is issuing a Request for Proposals and Developer Qualifications (RFP/RFQ) for the acquisition and redevelopment of the BBCRA-owned properties within the Heart of Boynton District. These properties, collectively known as the Cottage District Infill Housing Redevelopment Project Site, are located between N.E. 4th and N.E. 5th Avenues and N. Seacrest Boulevard and N.E. 1St Street,Boynton Beach,Florida (the"property"or"Project property"). The BBCRA will accept sealed proposals at its office located at 100 E. Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 ON OR BEFORE October 23, 2020, no later than 3:00 p.m. Eastern Standard Time,as determined by the time stamp or clock at the BBCRA's reception area. Proposals to this RFP/RFQ(proposals) received after the date and time set forth above will NOT BE ACCEPTED FOR CONSIDERATION. All proposals will be date and time stamped by the BBCRA. Faxed or emailed Proposals will NOT BE ACCEPTED FOR CONSIDERATION. The RFP/RFQ documents, including all related attachments must be obtained from the BBCRA office or website at www.hovntonheaehera.eom (Click RFPs/RFQs/ITBs Tab on right hand side). 1. Community and Economic Setting The City of Boynton Beach (City),with a population of 72,000,is the third largest city in Palm Beach County, Florida. It is located approximately 45 miles north of Miami and 15 miles south of West Palm Beach. This puts it in the heart of southeast Florida's rapidly growing tri- county Miami-Dade/Broward/Palm Beach Metropolitan area. Boynton Beach has direct access to the Intracoastal Waterway, Interstate 95 (I-95) and the Florida Turnpike. It also has a market of more than 6 million people within a two-hour radius and ready access to three international airports, two major rail lines, as well as the Tri-Rail regional commuter rail system. The Heart of Boynton District is bounded by I-95 to the west, Federal Highway to the east, the Boynton Beach Canal (C-16) to the north and Boynton Beach Boulevard to the south. Seacrest Boulevard runs north-south through the center of the community. Over the past 14 years there has been approximately$100 million of public investment into the Heart of Boynton and Cultural Districts in furtherance of the 2016 Boynton Beach Community Redevelopment Plan ("BBCRA Plan") with respect to property acquisition, infrastructure improvements, parks, construction of new affordable housing and rehabilitation of existing homes. Some of the projects are: • The City completed the redevelopment of the Carolyn Sims Center and Denson Pool for a total of$10 million in 2006. The Center is located at NW 121h Avenue and is the center of neighborhood activities. 01353549-2 Page 2 of 36 • The City invested $1.5 million of federal stimulus dollars into the Seacrest Boulevard corridor from Boynton Beach Boulevard north to the C-16 canal to create an attractive streetscape with new lighting, landscaped medians, and public art. • The City and BBCRA are currently partnering on the Model Block Project, redeveloping a block of new single-family homes at NW 11th Avenue and N. Seacrest Boulevard. The project includes upgraded streetscapes, utilities and ten new affordable single-family home sites. Home construction began in June 2018. • The BBCRA partnered with the City to combine funding to complete a $1.3 million renovation project to improve Sara Sims Park, an eight acre park located at the SW corner of Martin Luther King Jr. Blvd. and N. Seacrest Boulevard. A master plan was developed with community input and the project was completed in October 2019. • The BBCRA, in partnership with Centennial Management Corp., is in the process of redeveloping a 4.3 acre site between N. Seacrest Boulevard and NE 1st Street and between NE 6th and 7th Avenues. The $26 million dollar project will consist of 123 multi-family affordable 1-3 bedroom rental units with residential and site amenities, including a small flex and community space. The project is currently underway and scheduled to be completed in December 2020. • The BBCRA, in partnership with Centennial Management Corp., will also be redeveloping a 3.6 acre site on E. Martin Luther King Jr. Boulevard into an affordable mixed-use project consisting of 124 residential units and 8,500 square feet of commercial space. The $30 million dollar project is fully funded and construction is scheduled to begin in the spring of 2021. • As part of the 16.5 acre mixed-use P3 Town Square Project, the BBCRA and the City partnered to fund and complete the construction of a new municipal complex consisting of a City Hall/Library building, District Energy building, Fire Station, amphitheater and public spaces, a fully inclusive playground, and the $11 million renovation of the historic High School building into a Cultural Center with a meeting and convention space for use by the public and a future hotel. The Town Square Project is located at the SE corner of E. Boynton Beach Boulevard and N. Seacrest Boulevard and will feature private development of a hotel along with residential and commercial components to complement the public facilities. The publicly owned elements were completed in July 2020. 2. Property Disposal and Project Description This RFP/RFQ is being issued for a project known as the Cottage District Infill Housing Redevelopment Project (the "Project"), and is seeking proposals for the acquisition and redevelopment of a BBCRA-owned property identified in this RFP/RFQ. The Project site is approximately 4.2 acres of vacant property located between N.E. 4th and N.E. 5th Avenues and N. Seacrest Boulevard and N.E. 1St Street, Boynton Beach, Florida. The Project site lies within the BBCRA Heart of Boynton District boundaries and is identified in the BBCRA Plan as a priority residential site. 01353549-2 Page 3 of 36 Additionally, the property is also located in the PBC Qualified Opportunity Zone. For more information, see httD://maDs.co.12alm-beach.fl.us-lcwLjis/?aDD=Dbc interactive. All proposals must be in conformance with and in furtherance of the BBCRA Plan.The BBCRA Plan may be accessed on the BBCRA website: w�.b�onton�beach�cra.com The proposed redevelopment of this site shall be consistent with the recommendations made within the BBCRA Plan. The BBCRA Plan's goals are to leverage this publicly owned real estate asset to support the overall redevelopment of the Heart of Boynton community and surrounding area, to increase affordable home ownership opportunities for low and moderate income households within 80-140% Palm Beach County Area Medium Income (AMI), and to provide quality public enhancements that improve the economic, cultural and aesthetic quality of life for residents of the community. For more information on the annual published Palm Beach County AMI see Development proposals should include traditional residential amenities, as well as those to enhance or improve existing community assets. Overriding goals for the future Project include quality design through the use of urban design principles, and the use of alternative energy sources where possible. Proposals shall incorporate a publicly accessible neighborhood pocket park to be located along the eastern portion of the site. Firms or entities responding to this RFP/RFQ ("Proposers") are encouraged to exercise creativity in defining a concept that satisfies the vision of the BBCRA Plan, use of applicable and appropriate zoning or entitlements, and sound real estate development practices. Pursuant to Section 163.380(2), Florida Statutes, offers for the acquisition of the properties for less than fair value shall require approval by the Boynton Beach CRA Board and the Boynton Beach City Commission. 3. Land Use Regulations. The Heart of Boynton District section of the BBCRA Plan provides information on the vision for future redevelopment within this area, which includes the Project site. The recommended future land use Land Use designation for the property is High Density Residential (HDR) with a corresponding Zoning designation of Multi-family Residential District(R-4) or Infill Planned Unit Development District(IPUD) which supports a maximum density of 15 units/acre (plus a 25% density bonus for the creation of workforce housing) and maximum built height of 45 feet. It is the responsibility of each Proposer to review the City of Boynton Beach Land Development Regulations and Workforce Housing Ordinance for applicable guidelines and limitations. As stated in the BBCRA Plan,the community supports construction of one and two story units with a maximum height of three stories, if located within the interior of the site. 01353549-2 Page 4 of 36 4. Palm Beach County Impact Fees. Development of the property will be subject to Palm Beach County Impact Fees. Please contact Impact Fee Coordinator for PBC, Willie Swoope at (561) 233-5025, wswooeCpl�cgov.or for specific information regarding impact fees and/or credits applicable to the proposed development, or to download relevant information go to: httgffdiscover.pl�c ov.or t�zl�fadmiuistration Pa es,/Impact-Fees.aspx. S. Survey and Appraisal. An aerial boundary and parcel map along with a copy of the property survey is included with this RFP-RFQ as Attachments "A" and "B." An appraisal of the subject properties was completed and is available in electronic form upon written request to the BBCRA. Proposers should not rely solely on the information in the appraisal when compiling a proposal. The appraised value should be considered with all offers and requests for BBCRA incentives 6. Architectural and Design Considerations. The Project should include quality architectural design and site development standards that enhance the area and adjacent neighborhoods. Proposers should review the BBCRA Plan for Project development and design guidance. Proposals will be evaluated on their adherence and incorporation of architectural and design elements presented in the BBCRA Plan listed above and the design examples under Attachment"E." 7. Incentives for the Project. Under Chapter 163, Florida Statutes,the BBCRA is empowered to encourage and incentivize redevelopment within the BBCRA Redevelopment Area consistent with the BBCRA Plan.The BBCRA is committed to meeting the goals and objectives of the BBCRA Plan and will support the Project with policies and funding. To support the Project under this RFP/RFQ,the following incentives are available: • The BBCRA may provide financial incentives to enhance home ownership opportunities, such as but not limited to, infrastructure improvements, second mortgage subsidies, and/or assistance with County and State grant or funding applications. • The BBCRA may provide support and assistance with obtaining Palm Beach County Impact Fee credits, City of Boynton Beach Utility Cap fees or any other applicable fee credits or waivers that do not involve additional BBCRA funding. • The BBCRA may provide support and assistance in pursuing any permits or approvals that may be required to expedite the selected site development plan. • The BBCRA has allocated $385,825 in the FY 2020-2021 Budget for the Project. 01353549-2 Page 5 of 36 8. Proposer Registration. All entities interested in responding to this RFP/RFQ must register their name, address, telephone number, and an email address with the BBCRA by emailing Michael Simon, Executive Director, at SimonMC@LLfl.us. Any information concerning addenda, changes, additions, clarifications, notices, and other topics related to this RFP/RFQ will be sent to registered proposers using the registration information provided. 9. Additional Information. After the proposals are received by the BBCRA,the BBCRA may make requests to Proposers for clarifications, assurances, or for other details including, but not limited to, financial and disclosure data relating to the proposal or proposer (including all affiliates, officers, directors, partners and employees). Any inquiries of a general nature applicable to all proposers will be directed to all proposers. Following submission of a bid, the proposer agrees to promptly deliver such further details, information and assurances, including, but not limited to, financial and disclosure data relating to the bid and/or the proposer (including the proposer's affiliates,officers,directors,partners and employees),as requested by the BBCRA. 10. Requirements for the Proposed Project All proposals must include the following: • Construction of single family fee simple, owner occupied dwelling units consisting of either detached, attached or combination of the two. • Height limitations for the units should be maintained at one, two or three story units with strong consideration given to the placement of any proposed three story units within the interior of the Project and a two story limitation along the perimeter of the proposed Project site. • Street lights installed along the entire perimeter of the Project that are complimentary to those existing along N. Seacrest Boulevard adjacent to the Project site. • On-street parking spaces where feasible. • Minimum five-foot sidewalk width along the entire perimeter of the Project. • Use of street and site trees that "exceed the minimum size and caliper requirement" of the City's Land Development Regulations to be installed as part of the proposed Project. • Creation of a neighborhood pocket park on the east portion of the site along NE 1St Street. The pocket park must be included in the Project's site plan and must include landscape,hardscape and accent lighting features.Once constructed by the successful Proposer, the pocket park will be open to the public and therefore will be deeded to 01353549-2 Page 6 of 36 the City of Boynton Beach. The successful proposer may be required to enter into a maintenance agreement with the City of Boynton Beach for the pocket park. • Plan for inclusion of workforce housing units, for households within 80-140% Palm Beach County Area Medium Income (AMI) • Housing should be constructed with maximum efficiency and sustainability in mind (Attachment F). 11.Deed Restriction and Homeowners and Property Owners Associations The BBCRA may require a deed restriction on the use of the properties as fee-simple residential development to preserve the home ownership opportunities in the neighborhood and/or require the establishment of a Homeowners or Property Owners Association. 12.Required Elements of Proposals. Proposals must contain all of the following documents and information in order to be deemed complete. Proposals not deemed complete may be rejected. a. Provide a general written statement describing the qualifications of the proposer and background information on the principals. If the selected developer is a public corporation, provide copies of its annual report or SEC filings as appropriate. b. Provide a certificate of good standing from the Secretary of State of Florida and the state in which the corporation is headquartered, if not Florida. c. Provide a copy of the commercial lease agreement, if applicable, or proof of property ownership at the location the proposer is currently licensed to do business. If the Proposal is submitted by more than one entity, each entity much provide the requested information separately. d. Provide a list of key personnel that will be directly involved in proposed Project's development or management team, along with their professional qualifications and a list of similar projects on which they have actively participated. Provide no less than three and no more than ten related projects for this item. e. Provide a written list of similar projects developed by the proposer that were completed, including photographs, addresses, dates the projects were completed, and general project description. Provide no less than two and no more than ten projects for this item. If the Proposal is submitted by more than one entity, each entity must provide the information requested separately. f. Provide a detailed description of the proposed Project, with text and graphics. This should include but not limited to a schematic site layout plan; proposed density, intensity, and height; parking locations; a breakdown of the proposed total number of housing units and housing unit types (attached or detached), including number of bedrooms and bathrooms, and square footage for each unit type and elevations, as well as the items listed in Paragraph 6, "Architectural and Design Considerations," and Paragraph 10, "Requirements for the Proposed Project," of this RFP/RFQ document. 01353549-2 Page 7 of 36 g. Provide a proposed project pre-development, construction development and sales pro forma. The pro forma shall include and clearly identify the funding sources and costs of the Project including those of property acquisition from the BBCRA along with any proposed funding assistance being requested of the BBCRA, if applicable. h. Within the list of funding sources, provide the dollar amount of any proposer equity and investment contributed to the proposed Project. i. If the Project is proposed to use subsidies from other qualified entities, proposer must provide a list of those entities and demonstrate experience with obtaining such project-based subsidies for affordable housing by listing projects and the amount and type of subsidy utilized. j. Provide a description that will indicate how the units will be sold, strategies of outreach to the end users and community, proposed sale price ranges that are supported by the financial plan and pro forma, and the Project's proposed absorption rate. k. Provide a description of how the proposer will make attempts to utilize local qualified contractors, and sub-contractors as part of the completion of the proposed Project. Documentation of this effort will be required as part of the project monitoring. 1. Provide a strategy of how the proposer will engage the adjacent homeowners in the overall development of the Project. Engagement may consist of, but is not limited to improvements to common neighborhood elements such as contiguous public sidewalks, decorative pedestrian scale lighting, landscape design, or assistance with grant funding for architectural elements that would enhance the curb appeal and contribute to the cohesive design of the neighborhood. m. Provide proof of financial capability to complete the proposed Project. Financial capability may be demonstrated by submitting a current (audited, if available) financial statement of the proposing entity which includes a balance sheet, a three-year statement of past income, and a projected one-year income statement for the current fiscal year for the proposer (and its parent entity if proposer is a subsidiary). Tax returns may be substituted for financial statements. When possible, the proposer should also submit third party evidence of the ability to secure financing such as a preliminary financing commitment letter or letter of interest from a lending institution or other primary source of investment financing. A firm financing commitment from a lending institution or other source of investment financing may be required prior to the closing of the sale of the Project property, or as otherwise stipulated in negotiated agreements between the successful proposer and the BBCRA. Information regarding any legal or administrative actions, past or pending, that might impact the capacity of the proposer (or its principals or affiliates) to complete the Project must be disclosed. Disclosure of any bankruptcies by any of the above or related entities during the past ten years must be made with the RFP/RFQ. Financial information should be submitted in a separate, sealed envelope or package and marked 'confidential.' Financial information will be accepted only from the Proposer. n. A signed written statement of intent to purchase the Project property indicating the proposed purchase price along with a statement of willingness to execute a 01353549-2 Page 8 of 36 Purchase and Development Agreement within 90 days of selection if selected.Any Purchase and Development Agreement ("Agreement") will contain performance- based criteria and milestone timelines for items such as, securing debt funding, formal site plan application, commencement of construction, limitations on transferability or assignability of the Agreement without prior approval from the BBCRA, termination provisions for failure to meet the criteria listed and other provisions to adequately define the rights, duties and obligations of the parties. The Agreement may also contain a reverter clause. o. Provide authorization to Perform Credit Check for each proposer or Business entity. The Authorization must be executed by the appropriate officer of proposer entity (see Attachments "G" and "H" Disclosure and Authorizations to Perform Credit Check forms). p. A list of all civil and criminal legal actions in which each proposer entity (and its parent entity if it is a subsidiary) is currently a named party or was a named party in the past four years, providing the case number, case description, the state of jurisdiction,and disposition (or status) of each case. Proposer(s) may include any additional relevant information. If there are no legal actions to disclose, provide a written statement attesting to this fact. q. Provide a PowerPoint presentation of the proposal, consisting of no more than 15 slides. r. All other requirements contained in this RFP/RFQ, including all attachments that request a proposal or information from the Proposer. s. An acknowledgement letter attesting that the proposer has read and understands all procedures and requirements of this RFP/RFQ (see Attachment"D"). 13.Submittal Requirements. a. Location and Deadline. Proposals must be received by the BBCRA at 100 E. Ocean Avenue,Boynton Beach, FL 33435 on or before October 23,2020,no later than 3:00 p.m. Eastern Standard Time (the Deadline). Proposals received after to the date and time set forth above will NOT BE ACCEPTED FOR CONSIDERATION. Proposers may withdraw submitted proposals and resubmit at any time prior to the Deadline. b. Form and Number of Copies. Proposals must be delivered in a sealed box or envelope. Faxed and emailed proposals will not be accepted. In total, one bound original proposal document must be submitted with a title page listing the name of the RFP/RFQ and the submitting proposer along with one unbound but clipped copies of the proposal and one digital copy of the complete proposal in PDF format on a labeled CD/DVD or thumb drive. Proposals shall be clearly marked on the outside of the envelope or delivery box container as follows: 01353549-2 Page 9 of 36 Request for Proposals and Developer Qualifications Cottage District Infill Housing Redevelopment Project Issue Date: August 17, 2020 Submittal Deadline: October 23, 2020, no later than 3:00 p.m. c. Completeness.All proposals must be complete upon submittal to the BBCRA. d. Signature. The proposal, and any documents submitted with the proposal that require a signature, must be signed by an individual authorized by proposer to legally bind and represent Proposer. e. Failure to Meet Submittal Requirements. The failure to meet the Deadline, submit a proposal that complies with the form and number of copies requirements, or submit a complete proposal may result in the proposal being rejected and returned at the sole discretion of the BBCRA. f. Proposal validity.Proposals shall remain valid and binding on Proposers for 180 days after the submittal date. 14.RFP f RFQ Documents. The following planning and site documents are included in this RFP/RFQ and may be obtained from www.hovntonheachcra.com (click RFPs/RFQs/ITBs Tab on right hand side). • Geo-technical Report • Project Site Survey • Property Appraisal • 2016 BBCRA Redevelopment Plan • 2009 The Downtown Vision and Master Plan In addition, all Proposers are encouraged to walk the Project location and will be assumed to have performed all necessary inspections on the property. 15.RFP f RFQ Proposal Evaluation and Selection Process. The BBCRA staff shall review each proposal and make a determination as to whether each proposal meets the minimum submission requirements for review, including whether the proposal is complete, and whether it fully complies with the terms and conditions outlined in this RFP/RFQ.A Proposer's failure to provide a substantially complete RFP/RFQ proposal submission may result in the submission not being evaluated. The BBCRA may request clarification of submitted information from any Proposer. The confidentiality of proprietary information from competing Proposers shall be maintained to the extent permitted by law. a. In addition to meeting the minimum requirements of this RFP/RFQ,each proposal will be evaluated based on the information provided and on the following criteria, which are listed below in order of importance: 01353549-2 Page 10 of 36 i. Experience in completing comparable development projects within markets similar to the project area. ii. Experience in development of affordable or workforce attached and detached single family fee simple products and/or developments. iii. Project's adherence to the goals and objectives of the RFP/RFQ and referenced BBCRA planning documents, adherence to items listed in Paragraph 6, "Architectural and Design Considerations," and Paragraph 10, "Requirements for the Proposed Project,"resident amenities, and public benefits. iv. Proposed financial terms, purchase price, development and operating pro forma. v. Proposed plan or program to use local contractors, sub-contractors and laborers in the Project. b. After the BBCRA staff reviews the proposals for completeness and evaluates the proposals based on the criteria above, the BBCRA staff will present the results of the review and evaluation process to the BBCRA Board at a public meeting. The BBCRA Board will then consider all proposals that meet the minimum submission requirements for review. c. The Proposers may be asked to present their PowerPoint slide presentation before the BBCRA at their regularly scheduled meeting in the City Commission Chambers at City Hall located at 100 E. Ocean Avenue. In addition to a presentation to the BBCRA Board, the Proposers may be asked to present their Proposals before the BBCRA Advisory Board at their regular meeting. The BBCRA Advisory Board acts as a recommendation body to the BBCRA Board. d. At the conclusion of the public presentations, a proposer may be selected by the BBCRA Board. However, the BBCRA Board is under no obligation to select a proposer regardless of their ranking, and can, at its sole discretion, opt to terminate the RFP/RFQ process or continue the process to a subsequent meeting. e. The existence of a contractual relationship between a proposer and the BBCRA is contingent upon successful negotiations between the BBCRA and a selected Proposer, and execution of an agreement by both parties. Therefore, upon selection of a successful Proposer, the BBCRA and the successful proposer will then enter into negotiations for a Purchase and Development Agreement that will contain terms substantially similar to those contained in the successful proposal and this RFP/RFQ. i. Any Purchase and Development Agreement must be in a form approved by the BBCRA Board and BBCRA legal counsel. ii. If the BBCRA and the successful proposer are not able to agree upon a Purchase and Development Agreement satisfactory to both parties within 90 days of the selection of the successful proposer, the proposer shall have the right to terminate the negotiations. The BBCRA may terminate negotiations at any time for any reason. 01353549-2 Page 11 of 36 iii. If the BBCRA sends an agreed-upon Purchase and Development Agreement, or sends a Purchase and Development Agreement with a communication that informs the proposer that the agreement constitutes the BBCRA's final offer, and the proposer fails to return an executed copy of the provided Purchase and Development Agreement within 30 days of receipt of such agreement from the BBCRA, the negotiations are deemed terminated unless the BBCRA explicitly extends the deadline in writing. iv. The BBCRA may withdraw its offer of agreement,including a final offer,at any time prior to acceptance of such agreement. v. Upon termination of negotiations or withdrawal of the offer of agreement,the BBCRA may move forward as it deems appropriate, which may include entering into negotiations with another Proposer, re-advertising the RFP/RFQ, electing to terminate the RFP/RFQ process, or any other action it deems to be in the best interest of the BBCRA. f. Any transfer of the property from the BBCRA to a proposer may be subject to approval of the City of Boynton Beach. 16.Tentative Schedule. The following tentative schedule is anticipated for actions related to this RFP/RFQ.All dates, times, and locations are subject to change.All changes will be posted to the BBCRA's website at www.hovntonheachcra.com. Issue Date: August 17, 2020 Request for Information Deadline: October 12, 2020, 5:00 p.m. Submittal Deadline: October 23,2020,by 3:00 p.m.,BBCRA Office Presentation to the BBCRA Advisory Board*: November 5, 2020, at 6:30 p.m., City Hall Presentation to BBCRA Board*: November 10, 2020, at 5:30 p.m., City Hall Purchase & Development Agreement to BBCRA Board*: January 12, 2021, at 5:30 p.m., City Hall (*Note:Dates above subject to change—registered interested parties will be notified by email of changes, if any) 17.Contact and Questions a. Contact Information. All correspondence, questions, and requests for clarifications related to this RFP/RFQ must be directed to the person designated as the procurement officer for this RFP/RFQ: 01353549-2 Page 12 of 36 Michael Simon, Executive Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue, 4th Floor Boynton Beach, Florida 33435 Phone: (561) 600-9091 Email: SimonMC�LLfl.us b. Form of Contact; Answers in the Form of Addenda. All correspondence, questions, requests must be submitted in writing via email to the person identified above and may be submitted at any time but no later than 5:00 p.m., on October 12, 2020.All answers to questions, clarifications,and interpretations will be issued in the form of addenda, which become part of this RFP/RFQ. The proposer must acknowledge receipt of each addenda by completing the Addenda Acknowledgement Form and including it with the submitted Proposal (see Attachment "L"). It is the responsibility of all proposers to obtain, review and respond to any and all addenda issued. Oral explanations, information, and instructions shall not be considered binding on the BBCRA. All proposers are encouraged to independently verify the accuracy of any information provided. Neither the BBCRA nor any of its agents or employees shall be responsible for the accuracy of any oral information provided to any proposer, or to any assumptions made by Proposer. Written proposals to all written questions submitted shall be maintained by the BBCRA in the RFP/RFQ file. c. Limitations on Communications; Cone of Silence; No Lobbying. proposer or persons acting on Proposer's behalf may not contact, between the release of the solicitation and the end of the 72-hour period following the BBCRA posting the notice of intended award (excluding Saturdays, Sundays, and state holidays), any employee, officer, or board member of the BBCRA concerning any aspect of this RFP/RFQ, except in writing to the procurement officer or as provided in the RFP/RFP documents. Violation of this provision may be grounds for rejecting a proposal. Further, during the same time period, proposer or persons acting on Proposer's behalf may not contact any BBCRA Advisory Board Member, or any other person working on behalf of the BBCRA on any matter related to this RFP/RFQ. Communication prohibited by this RFP/RFQ,or by any other state,federal,or local law or regulation, may cause an individual or firm to be disqualified immediately from participating in the proposal or selection process. Any violation of this condition may result in rejection and/or disqualification of the Proposer's proposal. For purposes of this section,persons acting on Proposer's behalf shall include,but not be limited to, the Proposer's employees, partners, attorneys, officers, 01353549-2 Page 13 of 36 directors, consultants, lobbyists, or any actual or potential subcontractor or consultant of the Proposer. This "Cone of Silence/No Lobbying" is in effect from the date of publication of the RFP/RFQ and shall terminate 1) at the time the BBCRA Board selects a Proposer, rejects all proposals, or otherwise takes action which ends the solicitation process; or 2) at the end of the 72-hour period following the BBCRA posting the notice of intended award, excluding Saturdays, Sundays, and state holidays,whichever is later. 18.Disclosure and Disclaimer. Proposer understands and acknowledges that to the extent permitted by law, the BBCRA retains all rights, at its sole and absolute discretion,to: a. Withdraw this RFP/RFQ at any time; b. Modify the schedule associated with this RFP/RFQ; c. Issue addenda to this RFP/RFQ; d. Request additional information, clarifications, or assurances from one or more Proposers or prospective Proposers; e. Reject any and all proposals; f. Refrain from awarding an agreement as a result of this RFP/RFQ; g. Verify the accuracy of any information provided; h. Accept proposals that deviate from this RFP/RFQ; i. Disqualify or reject proposals that are incomplete, untimely, or unclear; j. Re-advertise this RFP/RFQ and accept new proposals; k. Obtain economic feasibility studies or third party evaluations with regard to any part of any proposal; 1. Evaluate the proposals through any process that complies with the BBCRA Procurement Policy,this RFP/RFQ, and applicable Florida Statutes, m. Select the one or more successful proposals or Proposers it deems will be in the best interests of the BBCRA,regardless of which proposal appears to offer the best monetary value to the BBCRA; n. Waive any required element or condition found in this RFP/RFQ for all proposals or for a specific proposal; o. Waive any formalities associated with this RFP/RFQ; p. Negotiate agreements, abandon or withdraw from negotiations, approve agreements, and take other similar actions as a result of this RFP/RFQ. Any proposer who submits a proposal in proposal to this RFP/RFQ fully acknowledges all the provisions of this disclosure and disclaimer and agrees to be bound by the terms hereof. In the event of any differences between this disclosure and disclaimer and the balance of the RFP/RFQ, the provisions of this disclosure and disclaimer shall govern. If proposer fails to fully comply with all requirements of this RFP/RFQ, proposer or proposer's proposal may be disqualified. 01353549-2 Page 14 of 36 19.Protests. The BBCRA Bid Protest Policy is available upon request. Submittal of a proposal constitutes acceptance of this policy. 20.Non-Discrimination. The selected Proposer,on behalf of itself,its successors and its assigns,agrees that no person shall,on the ground of race, color, disability,national origin,religion,age,familial status,sex, or sexual orientation, be subjected to discrimination in any way that is associated with the RFP/RFQ, the BBCRA, the proposal, any agreement resulting from this RFP/RFQ, or the Project. 21.Permits, Taxes. Licenses and Laws. The successful proposer will be required to pay for and/or obtain, at its own expense, all permits, licenses, fees, and taxes required, and to comply with all federal, state, and local laws, ordinances, rules, and regulations applicable to responding to this RFP/RFQ and carrying out the Project. 22.Sensitive and Proprietary Information. The BBCRA will maintain the confidentiality of sensitive and proprietary information to the extent permitted by law. The BBCRA will consider all other information, documentation and other materials submitted in proposal to this RFP/RFQ to be of non-confidential and or non- proprietary nature and therefore subject to public disclosure under Chapter 119 of the Florida State Statutes. 23.Public Records. The BBCRA is public agency subject to Chapter 119,Florida Statutes.The successful proposer shall comply with Florida's Public Records Law. Specifically, the successful proposer shall: a. Keep and maintain public records that ordinarily and necessarily would be required by the BBCRA in order to perform the service; b. Provide the public with access to such public records on the same terms and conditions that the BBCRA would provide the records and at a cost that does not exceed that provided in Chapter 119, Fla. Stat., or as otherwise provided by law; c. Ensure that public records that are exempt or that are confidential and exempt from public record requirements are not disclosed except as authorized by law; and d. Meet all requirements for retaining public records and transfer to the BBCRA, at no cost, all public records in possession of the proposer upon termination of the contract and destroy any duplicate public records that are exempt or confidential and exempt.All records stored electronically must be provided to the BBCRA in a format that is compatible with the information technology systems of the BBCRA. 01353549-2 Page 15 of 36 IF PROPOSER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO PROPOSER'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS RFP/RFQ, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (561) 600- 9091; 100 E.Ocean Avenue,41h Floor,Boynton Beach,Florida 33435,SimonM@bbfl.us. 24.Public Entity Crimes Statement. A person or affiliate who has been placed on the convicted vendor list following a conviction for a public entity crime may not submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; may not submit a bid,proposal,or reply on a contract with a public entity for the construction or repair of a public building or public work; may not submit bids, proposals, or replies on leases of real property to a public entity; may not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under a contract with any public entity; and may not transact business with any public entity in excess of the threshold amount provided in s. 287.017 for CATEGORY TWO for a period of 36 months following the date of being placed on the convicted vendor list. In order to qualify for consideration under this RFP/RFQ, proposer must complete and attach Attachment"J,"Public Entity Crimes Statement. 25.Drug Free Workplace Certification Preference shall be given to Proposer(s)with drug free work programs,under the standards described in Section 287.087, Florida Statutes.Whenever two (2) or more proposals that are equal with respect to price, quality and service are received by the BBCRA or by any political subdivision for the procurement of commodities or contractual services,a proposal received from a business that certifies that it has implemented a drug-free workplace program shall be given preference in the award process. In order to receive such preference, the proposer shall complete and submit with its proposal the attached certification,Attachment"K," Drug Free Workplace Certification. END OF MAIN DOCUMENT PROCEED TO ATTACHMENTS 01353549-2 Page 16 of 36 List of Attachments: A. Project Location Map B. Project Location Survey C. Proposer Information D. Acknowledgement Letter E. Design Examples F. Energy Efficiency Guidelines Checklist G. Disclosure and Authorization to Perform Credit Check H. Authorization to Perform Credit Check I. Authorization for Release of Information J. Public Entity Crimes Statement K. Certification of Drug Free Workplace Program L. Addenda Acknowledgement M. Certification of Non-Scrutinized Entity 01353549-2 Page 17 of 36 ATTACHMENT "A" PROJECT SITE LOCATION MAP qM1„ Cd , ik rr I I I F sk } a r 1 i wax 01353549-2 Page 18 of 36 +vm - - ac ry ma 4 dQ 4 -(b' dd 9t 30vd'SZ'e �d)NO 33015 ANNI76 tN0018'S45101 ...9Zl tStl .... (h (-aJ8d 6939tld ZEdtN'I 1.310AO SIDII4d d3HS Y < _ f £N0018'B 8 4'E Z't 510130 ShOI1t30d N W W 9NIddVkV?5NIA3AHns a�Og Btl'6�� — 8LpZ1LtiEp � 'ON7`S31V700SSd8WOt1(hV A3ANns DINdvN'JOd014 AWGNn(>e d � 3N1S lS 43N xs) t9'2tE .t. 3A&Mws < o i Lt 66 L, t a 121 w t 0 S6'fitrl *�M..SZ.tE,40NLu rr a � i — ____ —,----� _,:. .9B'Btrl 3-RAMS ti ix t xE H Z 09 x 66 LL M,9Z.tE,tON M.SZ 6E LON r F L� A d 0 1Y" i 3.97H1£>tOS b 1 �$ r _ — to A to m r� i iA w iS.tE>t t w Yf ,r I w r" a yr-ae, _ ... -- -- OtlVA3l(1O91S3NOV3S �S v . - m ¢ � 5 " � � 6 —77 $ £ _ EU" & P 2 5 $ po 21 m}, Sp g. V c a TZ g am ATTACHMENT "C" PROPOSER() INFORMATION Name: Street Address: Mailing Address (if different): City, State, Zip: Telephone No. : Fax No: Email Address of Contact Person: Ownership Status - Is the company currently for sale or involved in any transaction to expand or to be acquired by another business entity? If yes, please explain the impact to the organization and management efforts. Age of Organization - In continuous business since: Leadership - List Corporate Officers, Principals, Partners or owners of your Organization with titles and addresses. If a publicly held company, list Chairman of the Board, CEO, and President: Federal Identification No.: State of Incorporation & Registration No.: If not a corporation, explain your status: 01353549-2 Page 20 of 36 ATTACHMENT "D" ACKNOWLEDGMENT LETTER PROPOSER(S) SHALL INCORPORATE THIS ACKNOWLEDGEMENT LETTER IN THEIR SUBMITTAL PACKAGE ********************************************************************************** Re: Boynton Beach Community Redevelopment Agency Request for Proposal/Request for Qualifications (RFP/RFQ) dated August 17, 2020 Cottage District Infill Housing Redevelopment Project To Whom It May Concern: The undersigned has read the Boynton Beach CRA(BBCRA) Request for Proposal/Request for Qualifications (RFP/RFQ) for the Cottage District Infill Housing Redevelopment Project, dated August 17, 2020. On behalf of proposer identified below and our proposal team, we agree to and accept the terms, specific limitations, and conditions expressed therein. We have read, rely upon, acknowledge and accept the BBCRA's disclosure and disclaimer, which is fully incorporated by reference into this letter, and certify that all of the requirements as described in the RFP/RFQ are met and all required documents are enclosed. We further certify that all information presented in this proposal,and all of the information furnished in support of the proposal,is true and complete to the best of our knowledge and belief, and we are aware of the fact that making false statements or presenting false information that results in an Agreement may be penalized to the maximum extent allowed by law. Sincerely, Name of Proposer Print Name and Title Authorized Signature Date 01353549-2 Page 21 of 36 ATTACHMENT "E" DESIGN EXAMPLES LOCAL HISTORIC ARCHITECTURAL EXAMPLES t ; �t ++ N , t F , �f 1 �11 trpKAlt 0\ s ll u�SSt Gut' s-u " u. iau,t zst+, Ak 77 fi Y t 5 �u 3a lk u 01353549-2 Page 22 of 36 ATTACHMENT "E" (continued) SAMPLE ELEVATIONS 1„ J. i rT g. t v x o i ( s1 c IT NJ w � i (f ' h „ � s — .d n 01353549-2 Page 23 of 36 ATTACHMENT "E" (continued) Alternative Carport Options and Urban Neighborhood Site Plan Concepts NMI r _ a w [ r . u s 2 zip graphics below by Looney Ricks Kiss Architects, Inc. . a �.••• ,�" r� t( � ,-:- , r �e �\s 14 eui- .sane u'_..4s..� ! nsa e,le asuei a.l�u� re wd'!itW. J , am e q i"�acvl11 li .a x p ria, 1— � e ,nl , A4 r 10 fg, ' Al -,& . 01353549-2 Page 24 of 36 graphics below by Looney Ricks Kiss Architects, Inc. R t,r 1- f vTk lm t# Y q 11 Ir o- .�aa, ,..r,��tip,.,, 1. I,f " f - m l � Y - •,, F S �,�t a�a��uros s, a:: a �.,lws >v rig v m._ w 13,F,r. 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A 1'41 A- 4 F graphics below by Looney Ricks Kiss Architects, Inc. 01353549-2 Page 27 of 36 h k l, j r I TJ Aw t"",` Y?t i'a?�St� i~s feX,.s3tiY"'n-�sl;iit• ?5=.:hNZdu }S2E2&'.'(a. '1�Aa iffiv.: .11XZ'_.4r3 ....�_'1',�'.�--nXkr..i 'l WJ a trs � a k — r , o a ti i �t t w a � d r {(fl A`•< rat+i IMWN, „m VON r v>m .mbg g1,,t a g?%gg0.,tl�k1t?£t��4ffXtths n " t k W , . % 01353549-2 Page 28 of 36 ATTACHMENT 7" ENERGY EFFICIENCY GUIDELINES CHECKLIST The respondent will ensure that, to the greatest extent possible, all construction within the proposed Cottage District development meets the following minimum standards. Through the execution of this Exhibit, the proposer is certifying that the following elements checked below will be incorporated into their development plan. Energy-efficient Construction Techniques and Products ❑ Proper installation of insulation to ensure even temperatures throughout the house per FBC-Residential requirements ❑ Installation of high performance impact windows per Florida Building Code (FBC)- Residential requirements ❑ Installation of energy-efficient HVAC systems - Energy Star compliant ❑ Installation of new Energy Star compliant products including light fixtures, LED bulbs, ventilation and exhaust fans and appliances (refrigerators, dishwashers, and washer/dryer machines) Improved Indoor Environments ❑ Building envelope, duct systems and vents must be properly sealed to prevent cracks and holes ❑ Carpet, pads, and other surface materials and installation must comply with the Carpet and Rug Institute's Green Label Certification ❑ Utilization of only low Volatile Organic Carbon paints, finishes, and sealants ❑ Utilization of proper water vapor barrier and other applicable sealing methods to eliminate any possibility of mold ❑ Installation of programmable thermostats in all units Increased Water Efficiency ❑ Installation of low volume, non-spray irrigation system ❑ Incorporation of landscape practices recommended by the University of Florida's Florida Friendly Landscape Program (htt : ff�n.ifas.ufl.edul) and compliance with the Landscape Regulations of the City of Boynton Beach. ❑ Installation of low flow toilets and sink faucets 01353549-2 Page 29 of 36 ATTACHMENT "G" DISCLOSURE AND AUTHORIZATION TO PERFORM CREDIT CHECK An authorization to Perform Credit Check will need to be completed by each Principal/Owner. For Principal f Owner: (Please use a separate form for each principal/owner) As Principal/Owner of Proposer, I (name) hereby affirm I have read the above disclosure, and consent to and authorize the Boynton Beach Community Redevelopment Agency's (`BBCRA") investigation into my credit worthiness. Such consent and authorization is given with respect to any and all persons who may conduct an investigation of my credit worthiness on behalf of the BBCRA, including independent contractors and credit agencies retained by the BBCRA for such purpose. Any information provided to the BBCRA is a public record subject to the provisions of Ch. 119 F.S., and I may request a copy of any information provided to the BBCRA as part of the BBCRA's investigation into my creditworthiness. I grant such consent and authorization to the BBCRA for the period commencing as of the date of this authorization and terminating at the time a Proposal is selected by the BBCRA Board. I hereby waive any and all claims,past present or future,which I may have against the BBCRA by reason of any credit investigation made pursuant to my consent and authorization herein given to the BBCRA. Proposer Name: Principal/Owner Name: Date of Birth: Current Home Address: Previous Home Address: Email: Phone #: Signature: Date: Print Name: 01353549-2 Page 30 of 36 ATTACHMENT "H" AUTHORIZATION TO PERFORM CREDIT CHECK For Proposer (Business Entityj: The proposer hereby consents to and authorizes the Boynton Beach Community Redevelopment Agency's ("BBCRA") investigation into the creditworthiness of the Proposer. Such consent and authorization is given with respect to any and all persons who may conduct an investigation of the Proposer's credit worthiness on behalf of the BBCRA, including independent contractors and credit agencies retained by the BBCRA for such purpose. Any information provided to the BBCRA is a public record subject to the provisions of Ch. 119 F.S. Proposer grants such consent and authorization to the BBCRA for the period commencing as of the date of this authorization and terminating at the time a Proposal is selected by the BBCRA Board. This proposer hereby waives any and all claims, past present or future, which the proposer may have against the BBCRA by reason of any credit investigation made pursuant to Proposer's consent and authorization herein given to the BBCRA. An authorization to Perform Credit Check will need to be completed by each Principal/Owner and by the Business. Proposer (Business) Name (D/B/A if applicable): Current Business Address: Federal Tax ID# State of Incorporation: Phone #: Fax#: Authorized Signature: Date: Print Name: Title: 01353549-2 Page 31 of 36 ATTACHMENT "I" AUTHORIZATION FOR RELEASE OF INFORMATION To whom it may concern: The undersigned hereby authorizes you to release to the Boynton Beach Community Redevelopment Agency (BBCRA) or the City of Boynton Beach any information in your possession regarding the undersigned either of a professional credit or personal nature including the statement of your opinions with regard to the undersigned's professional credit and personal character, or of the proposer identified below. The undersigned also authorizes you to release to the Boynton Beach Community Redevelopment Agency (BBCRA) or the City of Boynton Beach any information in your possession regarding the business identified as "proposer"below. By: STATE OF FLORIDA COUNTY OF PALM BEACH THE FOREGOING INSTRUMENT was acknowledged before me this day of . 2020,by who is personally known to me or who has respectively produced as identification and did not take an oath. Notary Public: Print Name: Commission No: (Seal) My Commission Expires: Name: Home Address: Home Telephone Number: Business Telephone Number: Fax Number: Date of Birth: Professional License Number: Proposer (Business) Name: 01353549-2 Page 32 of 36 ATTACHMENT "J" PUBLIC ENTITY CRIMES STATEMENT A person or affiliate who has been placed on the convicted vendor list following a conviction for public entity crime may not: submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; submit a bid proposal,or reply on a contract with a public entity for the construction or repair of a public building or public work; submit bids, proposals, or replies on leases of real property to a public entity; be awarded or perform work as a contractor, supplier, subcontractor or consultant under a contract with any public entity; or transact business with any public entity in excess of the threshold amount provided in Section 287.017, Florida Statutes,for CATEGORY TWO for a period of 36 months following the date of being placed on the convicted vendor list. As the person authorized to sign the Statement, I certify that proposer has not been placed on the convicted vendor list within the past 36 months and complies fully with the above requirements. Proposer Name Authorized Signature Print Name Title Date 01353549-2 Page 33 of 36 ATTACHMENT "K" CERTIFICATION OF DRUG FREE WORKPLACE PROGRAM I certify that , the proposer responding to this RFP/RFQ, maintains a drug-free workplace program, and that the following conditions are met: (1) Proposer publishes a statement notifying employees that the unlawful manufacture, distribution, dispensing, possession, or use of a controlled substance is prohibited in the workplace; and specifying the actions that will be taken against employees for violations of such programs. (2) Proposer informs employees about the dangers of drug abuse in the workplace, the company's policy of maintaining a drug-free workplace, any available drug counseling, rehabilitation, and employee assistance programs, and the penalties that may be imposed upon employees for drug abuse violations. (3) Proposer gives each employee engaged in providing the commodities or contractual services included in this RFP a copy of the statement specified in Subsection (1). (4) In the statement specified in Subsection (1), proposer notifies the employee that, as a condition of working in the commodities or contractual services covered under this RFP/RFQ, he/she will abide by the terms of the statement; and will notify the employer (Proposer) of any conviction of, or plea of guilty or nolo contendere to any violation of Chapter 893 or any controlled substance law of the United States or any state,for a violation occurring in the workplace no later than five days after such conviction. (5) Proposer imposes a sanction on,or requires the satisfactory participation in a drug abuse assistance or rehabilitation program if such is available in the employee's community by,any employee who is convicted. (6) Proposer makes a good faith effort to continue to maintain a drug-free workplace through implementation of this Section 287.087, Florida Statutes. As the person authorized to sign the statement, I certify that proposer complies fully with the above requirements. Authorized Signature: Date Name &Title (typed) 01353549-2 Page 34 of 36 ATTACHMENT "L" ADDENDA ACKNOWLEDGEMENT Receipt is hereby acknowledged of the following addenda to the The Boynton Beach Community Redevelopment Agency Request for Proposals and Developer Qualifications Cottage District Infill Housing Redevelopment Project By entering checking YES or NO in the space provided and indicating date received. No. 1 ❑ Yes ❑ No Date No. 2 ❑ Yes ❑ No Date No. 3 ❑ Yes ❑ No Date No. 4 ❑ Yes ❑ No Date No. 5 ❑ Yes ❑ No Date RFP/RFQ INFORMATION WAS OBTAINED FROM: ❑ BBCRA Website ❑ Newspaper Ad ❑ City Hall ❑ Other, please specify: Authorized Signature Print Name Title Date 01353549-2 Page 35 of 36 ATTACHMENT "M" CERTIFICATION OF NON-SCRUTINIZED COMPANY as Proposer, hereby certifies that it is not on the Scrutinized Companies that Boycott Israel List created pursuant to Section 215.4725, Florida Statutes, and is not engaged in a boycott of Israel. If the BBCRA determines that this certification is falsified or contains false statements, or that proposer is placed Scrutinized Companies that Boycott Israel List or engages in a boycott of Israel after the submittal of the Proposal or the execution of any agreement arising out of this RFP/RFQ, the BBCRA may disqualify the Proposal and/or terminate the agreement. Proposer Name By: Authorized Representative of Proposer Date: STATE OF COUNTY OF SWORN TO and subscribed before me this day of , 20 , by . Such person (Notary Public must check applicable box): [ ] is personally known to me [ ] produced their current driver license [ ] produced as identification. (NOTARY PUBLIC SEAL) Notary Public (Printed, Typed or Stamped Name of Notary Public) 01353549-2 Page 36 of 36 r ADDENDUM NO. 1 TO REQUEST FOR PROPOSALS AND DEVELOPERS QUALIFICATIONS (RFP/RFQ) COTTAGE DISTRICT INFILL HOUSING REDEVELOPMENT PROJECT October 14, 2020 TO ALL PROPOSERS AND OTHERS CONCERNED The Boynton Beach Community Redevelopment Agency (BBCRA) is issuing a Request for Proposals and Developer Qualifications (RFP/RFQ) for the acquisition and redevelopment of the BBCRA-owned properties within the Heart of Boynton District. These properties, collectively known as the Cottage District Infill Housing Redevelopment Project Site, are located between N.E. 41h and N.E. 51h Avenues and N. Seacrest Boulevard and N.E. 1s1 Street, Boynton Beach, Florida (the "property" or"Project property"). The intent of this RFP/RFQ Addendum is to address to address any errors or misprint, provide supplement information, or provide clarification when requested. Proposers submitting proposals for the above- referenced project shall take note of the following changes, additions, deletions clarifications, etc., to the RFP/RFQ which shall become a part of and have precedence over anything shown or described otherwise. Question #1: On pages 7-9 in Section 12. Required Elements of Proposals, there are multiple instances of"If the Proposal is submitted by more than one entity, each entity much provide the requested information separately." Does separately mean that the CRA would like each team member to include this requirement in the proposal package or does the CRA intend each team member to submit this requirement separately to the CRA under separate cover? Answer. It is the intent of Section 12 to request information from the Proposer(s)where specified. The Proposer is the entity that will be entering into a Developer's Agreement with the BBCRA, not each of the professions that contribute to the Project. An example of a two Proposer submission where this would be applicable would be if a townhouse builder and a detached single-family housing builder"teamed" up to submit one proposal under one legal entity such as, but not limited to, a joint venture, LLC, or partnership. All necessary information from each builder will need to be combined into one proposal packet. Question #2: Would the CRA please specify which forms, if any, are required to be submitted by team members other than the Proposer? Answer. See response given to Question 1 above. Question #3: 3.a. Section 12, letter q. requires the inclusion of a PowerPoint presentation in the proposal. Would the CRA please explain the purpose of this/intended audience? Answer. The PowerPoint presentation will be used during the CRAAB and BBCRA Board meetings. 3.b. If the PowerPoint presentation is intended to be used in a shortlist presentation, are we able to make changes to the presentation after the submittal date and before the presentation or supplement the presentation? Answer. No. 1 Addendum No.01 Question #4: In the included Geo-technical Report, is the stated 2000 psi the maximum soil bearing capacity, or did the CRA specify this as the limit? Answer. The BBCRA did not provide any specifications prior to the performance of the Geo- technical Report. Question #5: Will the CRA consider alternatives to on-street parking? Answer. Any and all alternatives submitted by a Proposer may be presented to the BBCRA Board for their consideration as part of the Proposal. Question #6: Due to the circumstances surrounding COVID-19, would you consider permitting the submission of electronic copies instead of hard copies? Answer. No. Question #7: Please provide a list of all registrants. Answer. The following entities/individuals have registered as of the publication date of this Addendum: • Ace Development • Centennial Management Corp • Franck Gotsman • Boynton Beach Cottage District Development, LLC • Fox Ridge Capital • Aina Development, LLC • Lavoid Johnson • KHovmanian Homes • Pulte Group • WGI, Inc. Question #8: Can the CRA share any community comments with respect to previous development proposals and/or CRA development of the site? Answer. All of the meeting minutes and meeting videos for BBCRA Board meetings can be found on the BBCRA's website: www.boyntonbeachcra.com Questions #9-13: Drainage 9. Can we continue to sheet flow or pipe connect runoff to road right-of-way? 10. Can we use a pre-post reduction approach? 11. The road abutting lots, can we isolate them and do a pre-post for each? 12. Can we eliminate the 25 yr berm for these perimeter lots? 13. Is Legal Positive Outfall required? Answer. As part of a Proposer's due diligence, all of the above questions regarding drainage may be directed to the City of Boynton Beach Utilities Department. Questions #14-18: Water Distribution 2 Addendum No.01 14. Can we feed the buildings from the rear? Where does the meter need to be? 15. Is there WM along NE 5th Avenue? 16. Can we have As-builts /Atlas Sheets 17. Do we need to sprinkle the buildings? 18. Meter bank or individual meters and service runs for Townhome Lots? Answer. As part of a Proposer's due diligence, all of the above questions regarding water distribution may be directed to the City of Boynton Beach Utilities Department. Questions #19-20: Sanitary Sewer 19. Is there capacity in the gravity system(s) surrounding the property (or is a lift station needed)? 20. Can SF units be served from the rear to avoid multiple roadway open cuts and new service taps in existing mains. Answer. As part of a Proposer's due diligence, all of the above questions regarding sanitary sewer may be directed to the City of Boynton Beach Utilities Department. Questions #21-25: Roadway 21. Is a 32-ft Road Right-of-Way acceptable for the interior proposed loop road? 22. Sidewalk along NE 4th Avenue is not continuous? 23. Does it span the private lots that are remaining? 24. If the above is the case, the SWK would be on private property; how do we go about this? 25. Utility taps: what are the City's restoration requirements (limits of reconstruction and milling & resurfacing)? Answer. As part of a Proposer's due diligence, all of the above questions regarding roadways may be directed to the City of Boynton Beach Utilities & Public Works/Engineering Departments. Question #26: Site Plan 26. What are the setback requirements for the various products? Answer. As part of a Proposer's due diligence, all site specific questions regarding development regulations for the proposed product may be directed to the City of Boynton Beach Planning & Development Department. END OF ADDENDUM No. 1 3 Addendum No.01 BOYNTON CRI ,xU .. � w� F, 1A " e � BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY REQUEST FOR PROPOSALS AND DEVELOPERS QUALIFICATIONS (RFP/RFQ) COTTAGE DISTRICT INFILL HOUSING REDEVELOPMENT PROJECT Issued Date: August 17, 2020 Submission Date: October 23, 2020 Date: March 12, 2021 Corrected REQUEST FOR INFORMATION FROM SELECTED PROPOSERS At their March 9, 2021, meeting and as provided for under Section 18.M. of the Boynton Beach Community Redevelopment Agency (BBCRA) Request for Proposals and Developer Qualifications (RFP/RFQ) for the Cottage District Infill Housing Redevelopment Project, attached hereto as Exhibit A, the BBCRA Board selected three (3) Proposers and asked that each provide the additional information detailed below. The BBCRA Board Selected Proposers are: 1) Boynton Beach Cottage District, LLC; 2) Pulte Home Company, LLC; and 3) Azur Equities, LLC. The BBCRA Board is requesting additional information and providing revisions to the criteria set forth in the original RFP/RFQ's housing affordability criteria as described below: • Unless already articulated in the Proposer's original response submission, please provide a proposed plan for inclusion of Boynton Beach residents as potential buyers and provide the proposed maintenance of affordability mechanism for the housing units sold within the proposed development. • Replace 2020 Palm Beach County Area Median Income (AMI) income levels with the Boynton Beach Median Household Income (BBMHI) income levels for households within 80-140% of median income as provided below. Moderate income (80% to 120%) $52,146 to $78,218 Middle income (120% to 140%) $78,218 to $91,255 • If deviating from your original submission, provide a detailed description of the breakdown of the proposed total number of housing units and housing unit types (attached or detached), including number of bedrooms and bathrooms, and square footage for each unit type and elevations, as well as the items listed in Paragraph 6, "Architectural and Design Considerations." • Provide a breakdown of proposed unit sales prices for each unit type or model and identify the corresponding income levels of the potential homeowner based on the Attainable Housing Formula assuming that not more than thirty percent (30%) of gross household income should be expended for housing costs. Consider providing a wide range of sales prices attainable for those whose household income falls within the 80%-140% of BBHMI. Please include the costs associated with any proposed Homeowner Association fees. 1 • Proposals must be received by the BBCRA at 100 E. Ocean Avenue, Boynton Beach, FL 33435 on or before Monday, April 5, 2021, 12:00 p.m., Eastern Standard Time (the Deadline). Proposals received after the date and time set forth above will NOT BE ACCEPTED FOR CONSIDERATION. Proposers may withdraw submitted proposals and resubmit at any time prior to the Deadline. • Corrected, The requested information will be presented to the BBCRA Board at their regular meeting on April 13, 2021 at 5:30p.m. in Commission Chambers located at 100 E. Ocean Avenue. • Proposals must be delivered in a sealed box or envelope. Faxed and emailed proposals will not be accepted. In total, one unbound original proposal document must be submitted with a title page listing the name of the RFP/RFQ and the submitting proposer and one digital copy of the complete proposal in PDF format on a labeled CD/DVD or thumb drive. • All correspondence, questions, and requests for clarifications related to this RFP/RFQ must be directed to the person designated as the procurement officer for this RFP/RFQ: Michael Simon, Executive Director, Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue, Boynton Beach, Florida 33435 Phone: (561) 600-9091 Email: Si on l.0 • The terms and conditions as described under RFP/RFQ Section. 17. Limitations on Communications; Cone of Silence; No Lobbying; shall remain in full force and effect. 2 APPRAISAL REPORT BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY PROPERTY OWNERSHIP of 4.65 Acres of Land between NE 4th AVENUE & NE 5th AVENUE, east of SEACREST BLVD& NE 1St STREET BOYNTON BEACH,FLORIDA 33435 by Vance Real Estate Service 7481 Northwest Fourth Street Plantation,Florida 33317-2204 for Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue Boynton Beach, FL 33435 March 15, 2022 Vance Real Estate Service March 15, 2022 Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue j Boynton Beach, FL 33435 RE: 4.6513 acres of land,between NE 4th Avenue&NE 5th Avenue,between Seacrest Blvd& NE 1st Street, 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 March 15, 2022. The report sets forth our value conclusion, along with data and reasoning supporting our value opinion. i [ 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 2020-2022). This report is for exclusive use of the client for possible disposition of the appraised property. 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 market value of the appraised property, subject to definitions, certifications, and limiting conditions set forth in the attached report. TWO MILLION FOUR HUNDRED SEVENTY-TWO THOUSAND DOLLARS 2.4 (THIS LETTER MUST REMAINATTACHED TO THE REPORT KT[HEIGHTY-EIGHT(88)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 4rh 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 ppraised Property 5 1-3-5 Mile Location Map 7 1-3-5 Mile Demographic Statistics 8 Sketch of Survey 10 Parcel Identification No. Map 11 Zoning Map & Land Use Map 13 Summary of Important Facts and Conclusions 14 DESCRIPTIONS ANALYSES & CONCLUSIONS 15 I entity ot Client and Intended User 16 Intended Use 16 Identification of Real Estate Appraised 16 Ownership 16 Legal Description 17 Real Estate Tax Data 17 Market Area Description 18 Land Use & Zoning 24 Site Description 24 Real Property Interest Appraised 26 Appraisal Purpose and Definition of Market Value 26 Effective Dates of the Appraisal and Report 27 Scope of the Work 27 Summary of Information Considered 28 Property History 29 Highest and Best Use 29 SALES COMPARISON APPROACH-LAND VALUATION 32 Land Sales Location map 33 Land Sales documentation 34 Land Sales Comparison and Adjustment Chart 60 Valuation by the Sales Comparison Approach 61 FINAL VALUE OPINION 64 Certification and Limiting Conditions 65 ADDENDA 67 Zoning information 68 USPAP Standards Rule 2-2a 76 Qualifications of the Appraisers 80 INTRODUCTION NWT t<i r M 3 1 �S r t' w'f: t` Southeast corner of the appraised land NE 4 Avenue, looking west Miiiv -Im V.= "! t I r F �A" I ,fr NE 1 Street, looking north Northeast corner of the appraised land Photos of the Appraised Land 5 idla� A f r t r ry �r � r Y House at 115 NE 4 Avenue to be demolished Northwest corner of appraised land it t lit Awi, �7 a: i NE 5 Avenue, looking east House at 133 NE 4 Avenue to be demolished Photos of the Appraised Property 6 k 1, jr Lantana 3 t 4 it 4, "sea h il3J , kf 15 t t? 3f u 7 Delray Beach t 1-3-5 MILE RADII FROM THE VALUED PROPERTIES 145 NE 4 Avenue Boynton Beach, Florida • ti esrt�' 145 NE 4th Ave, Boynton Beach, Florida, 33435 Prepared by Esri Rings: 1, 3, 5 mile radii 1 mile 3 miles 5 miles Population 2000 Population 13,932 68,694 157,913 2010 Population 14,117 77,541 176,201 2021 Population 16,017 86,444 194,720 2026 Population 17,668 92,744 206,530 2000-2010 Annual Rate 0.13% 1.22% 1.10% 2010-2021 Annual Rate 1.13% 0.97% 0.89% 2021-2026 Annual Rate 1.98% 1.42% 1.18% 2021 Male Population 49.1% 47.8% 47.7% 2021 Female Population 50.9% 52.2% 52.3% 2021 Median Age 42.0 45.0 47.3 In the identified area, the current year population is 194,720. In 2010, the Census count in the area was 176,201. The rate of change since 2010 was 0.89% annually.The five-year projection for the population in the area is 206,530 representing a change of 1.18% annually from 2021 to 2026. Currently, the population is 47.7% male and 52.3%female. Median Age The median age in this area is 42.0, compared to U.S. median age of 38.5. Race and Ethnicity 2021 White Alone 42.6% 59.4% 63.7% 2021 Black Alone 50.1% 31.5% 26.6% 2021 American Indian/Alaska Native Alone 0.4% 0.3% 0.3% 2021 Asian Alone 1.0% 2.0% 2.3% 2021 Pacific Islander Alone 0.0% 0.0% 0.0% 2021 Other Race 3.3% 3.8% 4.2% 2021 Two or More Races 2.6% 2.9% 2.8% 2021 Hispanic Origin (Any Race) 14.3% 18.5% 19.4% Persons of Hispanic origin represent 19.4% of the population in the identified area compared to 18.9% 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 67.2 in the identified area, compared to 65.4 for the U.S. as a whole. Households 2021 Wealth Index 74 87 105 2000 Households 5,207 30,053 69,062 2010 Households 5,306 33,321 75,787 2021 Total Households 6,090 37,141 83,331 2026 Total Households 6,801 39,913 88,346 2000-2010 Annual Rate 0.19% 1.04% 0.93% 2010-2021 Annual Rate 1.23% 0.97% 0.85% 2021-2026 Annual Rate 2.23% 1.45% 1.18% 2021 Average Household Size 2.62 2.29 2.31 The household count in this area has changed from 75,787 in 2010 to 83,331 in the current year, a change of 0.85% annually. The five-year projection of households is 88,346, a change of 1.18% annually from the current year total. Average household size is currently 2.31, compared to 2.30 in the year 2010.The number of families in the current year is 47,869 in the specified area. Data Note:Income is expressed in current dollars. Housing Affordability Index and Percent of Income for Mortgage calculations are only available for areas with 50 or more owner-occupied housing units. Source:U.S. Census Bureau,Census 2010 Summary File 1. Esri forecasts for 2021 and 2026. Esri converted Census 2000 data into 2010 geography. March 30, 2022 8 • ti esrt�' 145 NE 4th Ave, Boynton Beach, Florida, 33435 Prepared by Esri Rings: 1, 3, 5 mile radii 1 mile 3 miles 5 miles Mortgage Income 2021 Percent of Income for Mortgage 23.4% 19.6% 19.9% Median Household Income 2021 Median Household Income $50,234 $57,677 $60,365 2026 Median Household Income $56,043 $64,969 $69,122 2021-2026 Annual Rate 2.21% 2.41% 2.75% Average Household Income 2021 Average Household Income $73,439 $81,251 $87,839 2026 Average Household Income $84,612 $92,827 $100,561 2021-2026 Annual Rate 2.87% 2.70% 2.74% Per Capita Income 2021 Per Capita Income $29,107 $35,117 $37,601 2026 Per Capita Income $33,841 $40,174 $43,020 2021-2026 Annual Rate 3.06% 2.73% 2.73% Households by Income Current median household income is$60,365 in the area, compared to $64,730 for all U.S. households. Median household income is projected to be $69,122 in five years, compared to $72,932 for all U.S. households Current average household income is$87,839 in this area, compared to $90,054 for all U.S. households. Average household income is projected to be $100,561 in five years, compared to $103,679 for all U.S. households Current per capita income is $37,601 in the area, compared to the U.S. per capita income of$34,136. The per capita income is projected to be $43,020 in five years, compared to $39,378 for all U.S. households Housing 2021 Housing Affordability Index 101 117 114 2000 Total Housing Units 6,249 36,098 82,216 2000 Owner Occupied Housing Units 3,456 21,704 52,283 2000 Renter Occupied Housing Units 1,751 8,349 16,778 2000 Vacant Housing Units 1,042 6,045 13,155 2010 Total Housing Units 6,938 42,468 94,117 2010 Owner Occupied Housing Units 3,266 21,558 53,222 2010 Renter Occupied Housing Units 2,040 11,763 22,565 2010 Vacant Housing Units 1,632 9,147 18,330 2021 Total Housing Units 7,871 46,119 101,168 2021 Owner Occupied Housing Units 3,511 21,936 54,254 2021 Renter Occupied Housing Units 2,579 15,206 29,077 2021 Vacant Housing Units 1,781 8,978 17,837 2026 Total Housing Units 8,625 49,097 106,423 2026 Owner Occupied Housing Units 3,702 23,081 56,874 2026 Renter Occupied Housing Units 3,099 16,832 31,472 2026 Vacant Housing Units 1,824 9,184 18,077 Currently, 53.6% of the 101,168 housing units in the area are owner occupied; 28.7%, renter occupied; and 17.6% are vacant. Currently, in the U.S., 57.3% of the housing units in the area are owner occupied; 31.2% are renter occupied; and 11.5% are vacant. In 2010, there were 94,117 housing units in the area - 56.5% owner occupied, 24.0% renter occupied, and 19.5% vacant. The annual rate of change in housing units since 2010 is 3.26%. Median home value in the area is$286,848, compared to a median home value of$264,021 for the U.S. In five years, median value is projected to change by 2.45% annually to$323,749. Data Note:Income is expressed in current dollars. Housing Affordability Index and Percent of Income for Mortgage calculations are only available for areas with 50 or more owner-occupied housing units. Source:U.S. Census Bureau,Census 2010 Summary File 1. Esri forecasts for 2021 and 2026. Esri converted Census 2000 data into 2010 geography. 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IV,� h'"I �r ,e , N�q 1 P5 Lb�,'fnusn { I� 11 4 f s s 2t it S s 5 s ��IWI.N."4 tttlj II{{t}s{ts\ i 1)�`Ulannu r r td�itt rs,�r { 1 I S>rrt f 7�p v t £tanueg "� .i � 2��sri t ,i}s' ([, kyl(f S,E, a ,uti t£ s `?t s J ytt rt t t 1st r2tilrl{s y{k1{ttJ{ t t is t a tt>Lh )? ts 111)t1�f vi �.,"N £lyZt�'3yy��'s?�Jy)}S Y}}J1)�tAi;•t41��\ 1{�tl{��{}�f3J�,.5� ts��ili}t, ;�ilsr 3klsq,,`�}ttl`�s i,'+ l�?i �'� �� " , mow -r.. ct at'+pl .� .....,.._ ,.Y n�W4 n W�_ .„I lr#�� - .�+.."°`��` t ti } ` ZONING MAP ppraised Property t t `",. ,gg}'S}\4 t}s sl s 4St}j(1{{tS sJtq S}�E{+}, f �{sl��{{{f}f)j Jt tt#tir)1 r�tf Y`Jt{��{()trt4(S tette}rtti il�islt}2 Stlfitl ttttltlt}tl}1sy iSt( t{ 3rtin's stjl��f sshyl' Er sf i4 s, ttIt{{tttSt 1 i2, , 3 {I¢7 s t{r SS to t ',' `i 1t '1'-',j{ „{� 1}t{t 1,;1 It 7}}�A9 17 i s illil j {f 4 a t Is s)1 r f<: jrr 1 { t s \ `4 ��`� R f it( - r Yeti - - - '��"'- Iljtt�� r.{ In4S'!s J 4q"��7��}),{\�#! 1�Ii( ttt�� ,,,,'r4tfi:#{�!S(��1 i �}\ :,,iy,J{7{s lAt1\,�ft�� t i s�l a k::-i{�> 7. � i"�i{I�,ft,its 4s tJtt i',S f��#,tt1111� � i•<_- ),;trt f {4 ii7�t�{(tl}�1# y2,1t{11)17tr1 tit£�£ t}r as i2}tai(`sii'jf ri} Sit r4 t tt,!{{� :)1}Vt.S)��'Jjip; saw t�; s 9 s ,�, l ii 777 14 .1 - :{tu rst�l;ttttl{,,�1,}4 .1t3Jt tl r {�1� �t s�\)t�il�lyt ,':� si tv i� t { 11 tt2ls t}i tlft)#;�}{1�J;i4 t titJ�A FUTURE LAND USE MAP Appraised Property 13 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS PROPERTY APPRAISED: 4.6513 acres of vacant land between NE 4th Avenue&NE 5th Avenue, east of Seacrest Boulevard to NE 1st Street, Boynton Beach, FL 33435 OWNERSHIP: Boynton Beach CRA 100 East Ocean Avenue, Boynton Beach, FL 33435 LAND AREA: 201,778 square feet or 4.346 acres. The property is identified by the Palm Beach County Property Appraiser as 20 parcels and a vacated alley. The Boynton Beach CRA has assembled the parcels to function as one property and constitute the larger parcel of this appraisal. All of the land is listed as having one owner. The parcels are adjacent to each other, with no physical barriers separating them. The highest and best use for the larger parcel is for one unified use of residential. The subject of this appraisal will be referred to as one property. Therefore, the opinion of value is developed for the larger parcel. BUILDING IMPROVEMENTS: None contributing to the highest and best use of the property CURRENT ZONING: "R-2", One & Two Family Residential District FUTURE LAND USE: "MDR", Medium Density Residential APPRAISAL PURPOSE: To develop an opinion of market value INTEREST APPRAISED: Fee simple CURRENT USE: Vacant, with the two single family residences projected to be demolished and removed. HIGHEST AND BEST USE: Low density residential use of either detached single family dwellings or townhouses or a mix, with a density of approximately 10 dwelling units per acre VALUE: TWO MILLION FOUR HUNDRED SEVENTY-TWO THOUSAND DOLLARS 24 VALUATION DATE: March 15, 2022 Exposure Time: 12 months prior to selling at the appraised value Marketing Time: 12 months immediately following the effective date of appraisal during which time the subject property could sell at the appraised value 14 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 2020 - 2022) 2-2(a)(i) State the identity of the client; The client and intended user of this report is the Boynton Beach Community Redevelopment Agency. 2-2(a)(ii) State the identity of any other intended users by name or type; None 2-2(a)(iii) State the intended use of the appraisal; The intended use of the appraisal is for possible sale of the appraised property. 2-2(a)(iv) Contain information, documentation, and/or exhibits sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic property characteristics relevant to the assignment; Ownership: Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue Boynton Beach, FL 33435 Property Appraised: 4.6513 acres of vacant land between NE 4th Avenue & NE 5th Avenue, east of Seacrest Boulevard to NE 1St Street, Boynton Beach, FL 33435 16 APPRAISAL REPORT (continued) Legal Description: Legal description on the sketch of survey of 18 parcels in the larger parcel of the appraised property. Plus the two recent purchases identified as: the southeast 1/4 of Lot 3, Block 3 and the east 50 feet of the south 100 feet of Lot 5, Block 3, SHEPARD'S ADDITION TO BOYNTON, Plat Book 2, page 59. Census Tract No. 61 Real Estate Tax: Boynton Beach Community Redevelopment Agency (BB CRA) owns the appraised property, exempting it from taxation. Thus, no real estate tax is paid by the property owner. When a property is exempt from taxation, the market value assigned to it by the county appraiser may not be current or accurate. Following are real estate tax data for the 20 parcels in the appraised property. Parcel Control Number Appraised Value Assessed Value 08 43 45 2128 0010010 $40,215 $14,663 08 43 45 2128 0010020 47,696 11,693 08 43 45 2128 0010031 47,640 11,693 08 43 45 2128 0010041 47,576 11,693 08 43 45 2128 0010061 47,524 11,693 08 43 45 2128 0010071 46,956 11,693 08 43 45 2129 003 0011 60,056 20,313 08 43 45 2129 003 0013 44,028 20,313 08 43 54 2129 003 0012 46,024 14,148 08 43 45 2129 003 0020 100,000 58,949 08 43 45 2129 003 0032 50,040 11,318 08 43 45 2129 003 0033 100,000 38,974 08 43 45 2129 003 0034 68,032 38,855 08 43 45 2129 003 0041 68,032 33,855 08 43 45 2129 003 0051 61,236 11,693 08 43 45 2129 003 0081 48,864 11,693 08 43 45 2129 003 0071 22,000 14,148 08 43 45 2129 003 0014 20,000 20,000 08 43 45 2129 003 0052 137,764 49,217 08 43 45 2129 003 0031 207,658 168,786 Total $1,311,341 $580,290 17 APPRAISAL REPORT (continued) Flood Zone: Zone "X", according to Map Numbers 12099C0787F, 789F, 791F, 793F. Zone "X" is not in a Special Flood Hazard Area. 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 79,000 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. Those few which were constructed in the early 1920s that are still in use have had repairs and replacements over the decades changing their historical significance. 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. 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 town as well as transporting produce grown in the vicinity out of the area to other cities in the southeastern United States. Freight trains still run through the subject market area on the FEC tracts. Higher speed, passenger Brightline train runs along the FEC tract, but does not stop in Boynton Beach. There are three depots with one in downtown Miami, one in downtown Fort Lauderdale and the third in downtown West Palm Beach. Boca Raton, Palm Beach County, and Aventura and the Port of Miami, Miami-Dade County will be the next depots. In the future, there may be commuter rail service along the FEC tracks with a station in downtown Boynton Beach; however, no plans have been announced. 18 APPRAISAL REPORT (continued) The immediate subject market area is one of the Boynton Beach CRA redevelopment districts known as the Heart of Boynton (HOB), containing 380 acres. This area is the historic, older part of the district with the following boundaries: Boynton Beach Canal (C-16) on the north, Florida East Coast (FEC) Railroad on the east, Interstate 95 on the west, and jagged line a few blocks north of Boynton Beach Boulevard as the south boundary, at about NE 3 Avenue. Within the HOB, is the "Cottage District", named for the architectural style of a few remaining older homes, and is the location of the appraised property. 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 neighborhood. 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. Boynton Beach Boulevard streetscape project is underway with the wider sidewalks, landscaping, lighting, et cetera. To the east of the FEC Railroad is U S Highway 1, also known as Federal Highway, the main north-south artery through eastern Palm Beach County and extends along the eastern seaboard of the United States. Heavily trafficked Federal Highway is a catalyst to redevelopment of the general market area, with over 2,300 residential dwelling units in five projects either built or planned. Highway beautification projects enhanced the aesthetics of the market area. Individual properties on the east and west side of the highway have shallow depths, inhibiting redevelopment of the sites with larger commercial projects. Assemblages of adjacent properties and rezoning to mixed use will continue to facilitate revitalization of the subject market area. 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. 19 APPRAISAL REPORT (continued) Property types in the Heart of Boynton are smaller commercial establishments along the main roads, light industrial close to the FEC Railroad, municipal facilities, single family residential, small multi-family dwellings, a few apartment buildings and places of worship. As mentioned, some structures date back to the 1920's, but most which are still usable were built in the mid-twentieth century. Municipal facilities in the immediate subject market area include parks, two elementary schools and a community center. Projects completed in the Heart of Boynton are: • Seacrest Boulevard Streetscape • Carolyn Sims Center • Ocean Breeze West - 21 homes joint venture with Habitat for Humanity • Construction of single family residences on Martin Luther King, Jr. Boulevard and on NW 11 Avenue, west of Seacrest Boulevard Projects in progress are: • Higher density residential buildings and commercial buildings on Martin Luther King, Jr. Boulevard • Redevelopment of the Public Works site • Establishment of mixed use districts of residential and commercial • Expansion of light industrial near the FEC Railroad • Enhancements to Sara Sims Park including landscaping, pavilions, picnic facilities, lighting and security. 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 2020 in the one-mile radius is $50,234, for three miles it is $57,677, and $60,365 for the five mile circle. Median household income for Palm Beach County is $65,000. In the one-mile circle, population is 16,017. In three miles, population increases to 86,444; at five miles, it is 194,720. However, about one-third of the three and five mile circles are over the Atlantic Ocean and waterways. 20 APPRAISAL REPORT (continued) Annual growth rate is anticipated to be 1.18% to 1.42% in the 3 and 5 mile circles, during the next five years as the economy grows and job market stabilizes. Growth rate is projected to be 1.98% in the one mile circle due to the construction of several new residential projects. In the market area, 54% of the housing units are owner occupied, with 29% rented. This percentage of renters is high for Palm Beach County because there are numerous multi- family dwellings in this vicinity. Vacancy is reported to be 17%; however, this amount is elevated due to the undercount of the other two categories as some residents are seasonal and not counted. Median home value in the five- mile area is $286,848 from the mix of highly priced homes fronting the Atlantic Ocean and Intracoastal Waterway and the small residences west of Federal Highway, compared to median home value of $264,021 in the United States. Economic Trends In South Florida, as in the rest of the United States, real estate prices climbed from 2003-2006. In 2007-2008, concerns were expressed about an unsustainable upward price trend in the market. Then, the economic collapse came in fall of 2008 along with the crash in real estate prices. In 2009, there were very few sales of any type of real estate. By 2010, it appeared that the worst was over. Cash buyers started making purchases. From 2013 to present, sales activity and prices recuperated. The upswing in prices is due in part to scarcity of developable land, especially in the eastern part of the county. Properties are back to pre-crash prices; even properties with secondary characteristics attract buyers. The life cycle stage of the market area is revitalization, a period of renewal, modernization, and increasing demand. The catalyst of the revitalization was 500 Ocean fronting Federal Highway, consisting of 341 residential units, 20,000 square feet of retail space and 6,000 square feet of office. Several other mixed-use projects are planned along Federal Highway. Ocean One at 114 N Federal Highway is planned for 358 apartments, 12,075 square feet of retail, 120 hotel rooms, and 439 parking spaces. Davis Camalier recently sold the land to Hyperion Group, with the buyer taking over the construction of the project. 21 APPRAISAL REPORT (continued) Boynton Beach Community Redevelopment Agency (CRA) accepted the proposal from Affiliated Development from five submissions to build a mixed- use project at 115 North Federal Highway. The CRA had purchased the property when improved with a church and subsequently demolished it. The size of the land offered by the CRA is 2.28 acres, including parking lots and the recent purchase of 508 East Boynton Beach Boulevard. There are other surrounding privately owned parcels around the project which could be purchased for enlargement of the redevelopment site. Details of the land purchase by Affiliated Development are to be finalized. The proposed project will be called the Pierce, for the legendary Barefoot Mailman, Charlie Pierce. Project size will be 236 apartments, 16,800 square feet of restaurant, retail and office, and 600 space parking garage. Boynton Beach CRA will purchase the property at 511-529 East Ocean Avenue where Hurricane Alley Raw Bar & Restaurant is located. This property consists of three buildings on a site of 17,903 square feet. Future plans for the property have not been revealed. It is in the block to the south of 115 North Federal Highway where the Pierce will be constructed. Town Square, a major redevelopment project to the west of Federal Highway covers three blocks 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 were demolished and removed. The project is planned for the construction 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 As of the writing of this report, there are no structures on the north parcel fronting Boynton Beach Boulevard. The existing structure is on the middle parcel; however, there is no new building on the east side. The new city hall is completed on the west side of the south parcel, along with an outside venue; although, there are no residential units or parking garage. Reportedly, the cause of the construction delay is a dispute about the parking garages. To the east of the north parcel is the new Boynton Beach Rescue Services building. 22 APPRAISAL REPORT (continued) In the Heart of Boynton CRA district, Ocean Breeze East is completed at 700 North Seacrest Boulevard. The development is an affordable apartment project containing 123 units, retail space, clubhouse and swimming pool. The project came about by the Boynton Beach Community Redevelopment Agency selling the land and the Florida Housing Finance Corporation and TD Bank providing the financing. Also in the Heart of Boynton CRA district will be apartments and retail buildings on Martin Luther King, Jr. Boulevard east of Seacrest Boulevard. There will be 125 residential units, 8,530 square feet of commercial space and 218 surface parking spaces. Part of the land was transferred from the Boynton Beach CRA to Wells Landing Apartments, LLC. Wells Landing purchased four parcels from a private property owner to complete the site for the new project. Funding for the project was awarded to the property owner from the Florida Housing Finance Corporation. Wells Landing is anticipated to bring about more development along MLK Boulevard and surrounding avenues. At the southeast corner of Seacrest Boulevard and East Martin Luther King, Jr. Boulevard, the store was purchased and will open as Dollar Tree. The section of the Cottage District from NE 4 Avenue to NE 5 Avenue, between Seacrest Boulevard and NE 1 Street (the appraised property) will be offered for construction of a housing project in keeping with the plan to revitalize the Heart of Boynton. Parcel size is 4.6513 acres, comprised of smaller lots acquired over many years to assemble a large tract of land for a transformation of a substantial part of the Heart of Boynton. Conclusion The town's 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. Boynton Beach Community Redevelopment Agency is instrumental in the renaissance of the city. The immediate subject market area of the Heart of Boynton (HOB) has the components of an appealing neighborhood with schools, parks and recreation. HOB is easily accessible by main roads and Interstate 95. Goods and services are nearby on Boynton Beach Boulevard and U S Highway 1. With the involvement of the City of Boynton Beach and the Community Redevelopment Agency, Heart of Boynton Community Redevelopment Plan can continue to succeed in revitalizing the area. 23 APPRAISAL REPORT (continued) The transformation of the area is in progress. Development of real estate takes time and the right market conditions which have been positive. Upward price trend for property in the subject market area should continue as the economy remains strong. Land Use: "MDR", Medium Density Residential, maximum density 9.58 dwelling units per acre Zoning: "R-2", One & Two Family Residential District in the city of Boynton Beach, with the purpose to implement the medium density residential future land use map classification of the comprehensive plan. Excerpts from zoning ordinances are in the Addenda. 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. However, there is a provision for a site with two lots platted prior to the enacting of the current zoning regulation to be improved with a duplex. 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. Site Description: Size and dimensions of 18 of the 20 parcels in the appraised land are from the sketch of survey included earlier in the report prepared by Avirom & Associates, Inc., dated May 4, 2020. Data for the two recently purchased properties are from the Palm Beach County Property Appraiser. 24 APPRAISAL REPORT (continued) The shape of the site is irregular. North boundary of the site is NE 5 Avenue. East boundary of the site is NE 1 Street. South boundary of the site is NE 4 Avenue. West boundary of the site is Seacrest Boulevard. Land size is 201,778 square feet or 4.6513 acres. Utilities: All utilities are available to the site. Access: The site is accessible via NE 1 Street, NE 4 Avenue and NE 5 Avenue, each being two-laned local roads. Seacrest Boulevard is on the west side of the site, with four traffic lanes, sidewalks, curbs, and landscaped median. Easements: Easements are noted on the sketch of survey. Improvements: There are no structural improvements on the site which have a contributory value to the property. Houses at 115 and 133 NE 4 Avenue will be demolished and removed. Environmental Assessment: The appraisers were not provided with a Phase I Environmental Site Assessment to review. 25 APPRAISAL REPORT (continued) 2-2(a)(v) 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)(vi) 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 March 15, 2022. 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. 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 as follows. 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. 26 APPRAISAL REPORT (continued) * 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 & Light Co., v. Jennin,%,Ys, 518 So.2d 895 (Fla. 1987)] 2-2(a)(vii) State the effective date of the appraisal and the date of the report; A) Effective Date of the Appraisal: March 15, 2022 B) Date of the Report: March 22, 2022 2-2(a)(viii) 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 appraisers 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 sales of land sales. The process included searches and analyses, inspections and confirmations, and final reporting. The appraiser examined several sources of sales data, including CoStar Group, Corelogic, Realquest, Loopnet, Palm Beach County Property Appraiser records, the public records, and data from the appraisers' plant. 2-2(a)(ix) Summarize the extent of any significant real property appraisal assistance; The two signatory appraisers are the only people involved in the appraisal process. 27 APPRAISAL REPORT (continued) 2-2(a)(x)(I) Summarize the appraisal methods and techniques employed; (2) State the reasons for excluding any of the valuation approaches; (3) Summarize the results of analyzing the subject sales, options and listings; (4) State the value opinion and conclusion (5) Summarize the information analyzed and the reasoning that supports the analyses, opinions, and conclusions For Sales Comparison Approach, land sales are compared to each other and to the property under appraisement to arrive at an opinion of value. The information analyzed and the appraisal method used is detailed in the valuation section of the report. Further, the reasoning that supports the analyses, opinions, and conclusions is explained in the valuation section. Cost Approach is not used because no structures were considered in the valuation. The Income Approach is not employed in this appraisal because most sites like the subject are purchased and not leased. Exclusion of these approaches to value still produces a creditable report. The value opinion and conclusion is stated at the end of the Sales Comparison Approach—Land Valuation. 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 of sale or options of the subject property as of the effective date of the appraisal. Boynton Beach Community Redevelopment Agency (BB CRA) will offer the entire property for sale by issuing an RFP (Request for Proposal). BB CRA issued RFPs for this property in the past. The CRA Board accepted a proposal for a 39 affordable housing units. The proposal did not progress as planned, with the Board voting to terminate the project in January, 2022. 28 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. Boynton Beach Community Redevelopment Agency acquired the 17 of the 18 parcels constituting the appraised property from April, 2007 to May, 2015 for a total of $3,101,500. When purchased some of these properties were improved with residences that were later demolished. A recent acquisition for the assemblage was 145 NE 4 Avenue for $205,000. The property was improved with a duplex which was converted to a private community help center. 115 NE 4 Avenue was acquired in July, 2021 for $275,000. 133 NE 4 Avenue was purchased in July, 2021 for $300,000. Total of these purchases is $3,881,500. The timeframe of the acquisitions is over too long of a stretch to be an indication of current value for the entire property. 2-2(a)(xi) State the use of the real estate existing as of the effective date and use of the real estate 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)(xii) When an opinion of highest and best use was developed by the appraiser, state that opinion and summarize the support and rationale for that opinion; HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Physically Possible as Vacant The land appraised consists of most of a large block with roads bordering the four sides. One property is excluded from the block, making it almost rectangular. Land size is 201,778 square feet or 4.6513 acres. The parcel is level and filled to street grade. All utilities are available to the site. Physical constraint to develop the site is its size which governs the number of potential improvements which can be placed on it. 29 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. Current Land Use designation is medium density residential, maximum density of 9.58 dwelling units per acre. Zoning is "R-2", One- family and Two-family Residential District in the City of Boynton Beach. Maximum number of dwelling units per lot in "R-2" district is two if the lot size meets current code. There is another zoning provision permitting two dwellings to be constructed if there are two lots platted prior to the current code. The entire site may have the potential of being improved with 46 total dwellings, of attached unit, detached units or possibility is a mix of types. Boynton Beach officials make the decisions as to permitted density. The Boynton Beach CRA future land use plan for the appraised land and surrounding blocks is for High Density Residential of 11 dwelling units per acre. A change in the comprehensive plan is required for the implementation of a new land use. 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 immediate subject market area has been improved with single-family residences and small multi- family dwellings for almost 100 years. Residences come to the end of their economic lives, improvements are razed and the sites are redeveloped with modern structures. There are examples of this cycle throughout the subject market area. Redevelopment projects in the subject vicinity are Ocean Breeze West with 21 homes, Eastview Park by D R Horton, and new houses on West Martin Luther King, Jr. Boulevard. Habitat for Humanity will be constructing single family residences on NW 11 Avenue. Further, there are the new multi- family residential projects on Martin Luther King, Jr. Boulevard and Ocean Breeze East on Seacrest Boulevard. 30 HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Financially feasible use of the land under appraisement is to improve it with a unified project of approximately 46 dwelling units. The most probable buyer would be a regional investor in affordable housing who is capable of qualifying for financing for the project from the Florida Housing Finance Corporation or other sources of funds based on past performance. As will be cited in the Sales Comparison Approach, purchasers of the four land sales are national or regional developers: Lennar Homes LLC, Pulte Homes Company LLC, Stellar Communities. Such companies have the capabilities and finances to construct residential projects in a timely manner. Time for development is now while the market area is in the life cycle stage of revitalization, and the Boynton Beach CRA is in support of new projects. Maximally Productive as Vacant In summary, the Highest and Best Use of the property appraised is for a residential project of approximately 46 dwelling units. Such uses would be physically possible, probably legally permissible, financially feasible and maximally productive. 2-2(a)(xiii) 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)(xiv) Include a signed certification in accordance with Standards Rule 2-I See signed certification in report. 31 SALES COMPARISON APPROACH LAND VALUE I P-114,11 ±fi •Palm Reach Shores " Riv{eralBeaeh Al" ii ldangonta Park fol Ilq1' Century Vrflags Wept"Palm Beach E�Ca�� Ja4m Beach Botden.Lakes� i • it Haverhrk! Pslmj bih,In (� Royal Patin h Beacj 3 Loxahatchee { GoI' w Q � Glen Rtdge ,irVefNngton `i IJ; + i � i�,>�`15Jt1 r-fi, !� l 1C IR LE-2 pr,ngs( a�rke Shores �Greenacres City �_ _ 9 k Ua I _., e worth 6'J3 I it Ralm�ea��Illlnty� j Park r 'South Pa4m Beach I�.. Hypoluxo i fti8ana4aphan SUBJ"Ci Boynton:Bea ch �Crcean Rrdge LANO SPL F§f Briny Breezes r A93Y. Caulf Stream S II Ars a'a { �, aelray Beach ,N{n Point 141 ?� �ll ,Whisper walkJ f ;tHighland Beach �I - Hamptons at Roca Raton �`" ri i �aucgaa�T��-� ■n 8'J3�� r. I , Baca Raton ,Roca Dell IF------------------------------------- l� •Sanda4foat Cane r14 o. ai ll SII 'E7eifield each Parkland �- _ ------ U � �`Hrtsburb Reach MiData use subject to license G DeLorme.DeLcrme Street Atlas USAO 2909. d 1 2 3 4 5 6 wwwdelorme.cem MN(7 Ll°VV) Data Zoom 9-7 LAND SALES MAP 33 VACANT LAND SALE SALE NO. 1 LEGAL DESCRIPTION All of the plat of COUNTRY TRAIL, PUD, Plat Book 131, page 60 RECORDED O. R. Book 32055,page 653,Palm Beach County,FL GRANTOR Country Trails 25 Boynton LLC/Stellar Communities GRANTEE Lennar Homes LLC DATE OF SALE December 23,2020 LOCATION 2600 County Lakes Trail Boynton Beach,FL ZONING Residential, low density DENSITY 5 dwelling units per acre SALE PRICE $2,600,000 PROPERTY DESCRIPTION Land size: 225,379 square feet, 5.174 acres UNITS OF COMPARISON $11.54 per square foot PARCEL CONTROL NO. 08 43 45 3100 000 5050+ CONDITIONS OF SALE Cash sale. Arm's length transaction. CONFIRMATION Don Ginsburg, listing real estate broker COMMENTS The grantor platted the land for 25 single family dwellings prior to this sale. Lot sizes are 4,725 or 5,175 square feet. Project name is County Trails. Grantor purchased the property in November, 2019 for $1,950,000 prior to platting. 34 " Rr,MEr COUNTRY TRAIL PUD THE WEST HALF OF THE NORTHEAST ONE QUARTER OF THE SOUTHWEST ONE QUARTER OF THE SOUTHEAST ONE �1 v,.ay.e M isi a weRv,vau. QUARTER OF SECTION 31 TOWNSHIP 45 SOUTH,RANGE 43 r�@ EAST,CITY OF BOYNTON BEACH,PALM BEACH COUNTY, f¢(Y¶N1b1B] FLORIDA. ,s SHEET 2 OF 2 AREA TABLE K ABBREVIATIONS ( _- —_.-__ Ina "", .xt f I�os F 123 3 � LEGEND c a _� t✓_ r-.� -.,1 m'T,.I—b woa .sm m �°° s r I - COUWRY LWe IT,t�s+,A,ro> /,,,L 1M..�i4Y rmx iIYCfA Y,YaP til +S ra aRe al� � — -I— e0':l SI I NOTES PI _1_am �m t n um i 35 - 00 Q 315V ti�IIIMEtF COUNTRY TRAIL PUD �� Q A THE WEST HALF OF THE NORTHEAST ONE QUARTER OF THE SOUTHWEST ONE QUARTER OF THE SOUTHEAST ONE "a.-OQUARTER OF SECTION 31 TOWNSHIP 45 SOUTH,RANGE 43 EAST,CITY OF BOYNTON BEACH,PALM BEACH COUNTY, M 8C I g FLORIDA. ` 0 DESCRIPTION DEDICATK)NS AND RESERVATIONS HOMEOWNERS ASSOCIATION ACCEPTANCE o ,no 6 .r. SHEET 1 OF 2 to ACKNOWLEDGEMENT LOCATION,MAP NOTES , c_ TITLE CERTIFICATION - iw aumc"u,m"or r„,suso.rsc" "s OF BOYNTON BEACH APPROVAL . SURVEYOR'S CERTIFICATE IC-11 av -,n,." ."c ar . N cal! 6- r u r _ .a. m - 9 .fig , �a1d. IE eW � ACKNOWLEDGEMENT "f.s REVIEWING SURVEYOR w w 77 �,r,�s b�4�7.o11w .• �Qf cw.,�xr�,sro: � re._I�S�ozo J .c«�riUrE a,i,rwav+n�..weca'eji.vo euI" i vvc . eMewwc sue�:.oe soxn-ro" 36 � h i I I I �1 1� f {{ � Ia TMs, t�i,l� I�3 r4r 11 b LA D SALE 1 2600 COUNTRY LAKES TRAIL BOYNTON BEACH, FL 37 VACANT LAND SALE SALE NO. 2 LEGAL DESCRIPTION Lengthy legal description. See deed. RECORDED O. R. Book 32784,page 663,Palm Beach County,FL GRANTOR Elona Henry et al GRANTEE Pulte Homes Company LLC DATE OF SALE August 11, 2021 (Contract date: August 3, 2020) LOCATION 1351, 1283 & 1281 Ranchette Road Greenacres,FL ZONING Residential, low density DENSITY 7 dwelling units per acre SALE PRICE $2,930,000 PROPERTY DESCRIPTION Land size: 460,908 square feet, 10.581 acres UNITS OF COMPARISON $6.36 per square foot PARCEL CONTROL NO. 00 42 44 10 00 000 1070 and 0120 CONDITIONS OF SALE Cash sale. Arm's length transaction. CONFIRMATION David P. Barker, closing attorney COMMENTS The grantee purchased the land unplatted, with three older single family homes on it. While the property was under contract, the grantee platted the land, then closed the sale. The land will be improved with 74 townhouses in a project called Ranchette Square. Projected sale prices of the end product will be in the $300,000s, with three bedrooms, 2.5 baths and a garage. 38 CFN 20210380935 OR BK 32784 PG 663 RECORDED 08/16/2021 10:29:33 Palm Beach County, Florida AMT 1,425,000.00 DEED DOC 9,975.00 This Instrument Was prepared Joseph Abruzzo By And Should Be Returned To: Clerk Pgs 0663-0666; (4Pgs) Dav%P.Barker,Esq. end,Egerton,Bloodworth, o dt Bozarth,P.A. 4 ge Avenue,Suite 700 Orl L 32801 (407) 200 0 Property users Parcel Identifica olio)Number.00-4244-10-00-000-1070 SPECIAL WARRANTY DEED THIS QMAL WARRANTY DEED (this "Deed"), executed as of the -A!�7day of August, 2021, by I. Henry, individually and as Trustee of the James H. Henry and Elona 1. Henry Revocable(Jt as amended and restated U/A/ dated February 23, 2018 (collectively, "Grantor"), whoseing address is 929 Drury Place, West Palm Beach, Florida 334I1 to PULTE HOME CO Y, LLC, a Michigan limited liability company ("Grantee"), whose mailing address is 147 k Blvd., Suite 140, West Palm Beach, Florida 33401. �7WITNESSETH: That Grantor, for an nsideration of the sum of ten dollars ($10.00) and other good and valuable consideration to in hand paid by Grantee, the receipt and sufficiency of which is hereby acknowledged, granted, bargained, and sold to Grantee and Grantee's heirs and assigns forever, the real prope ituate, lying, and being in Palm Beach County, Florida, and described in Exhibit "A" atta o this Deed (the "Property"), subject to the Permitted Exceptions listed in Exhibit"B" atta Oo this Deed (the "Permitted Exceptions'). TO HAVE AND TO HOLD then fee simple forever. And Grantor covenants with Grantee that, at the time of the delivery of this Deed the Property was free from all encumbrances made by Grantor, other than the Permitted Exceptions, and that Grantor hereby specially warrants the title to the Property and will defend it against the lawful claims of all persons claiming by,through, or under Grantor, but not otherwise,subject to Permitted Exceptions. 03375133.vl 39 CFN 20210380935 BOOK 32784 PAGE 664 2OF4 IN WITNESS WHEREOF, Grantor has executed this Deed as of the day and year first above written. Si d, sealed, and delivered resence of: 0 0 Elona I. Henry,individually and as T tee of the Signature o Witness James H. Henry and Elona I. Henry Revocable Trust Q as amended and restated U/A/dated February 23, 2018 Print Name of F' fitness Signai&of Second ss r 4��a Print Name of Second Wi TR STATE OF FLORIDA ) S.: COUNTY OF J , The foregoing instrumentcknowledged before me by means of [f] physical presence or [ ] online notarizatio �U day of August, 2021, by Elona 1. Henry, individually and as Trustee of the Henry and Elona 1. Henry Revocable Trust as amended and restated U/A/ dated Febxua23, 2018, who is personally known to me or who produced el- D. — H 1-60-.20 Y - as identification. [Official Notarial Sea[] No ublic 6t1" �•"M (Print or type name) COig!{8�1011it�08�1 ��NoNmbK1.� eoneeattwfunAereta , Commission No.: My Commission Expires: 2 03375133.v 1 40 CFN 20210380935 BOOK 32784 PAGE 665 3OF4 Exhibit"A" (to Special Warranty Deed) Legal Description IThe North Half of the Northwest Quarter of the Southeast Quarter of the -iortheast Quarter of Section 10, Township 44 South, Range 42 East, LESS the st 30 feet thereof heretofore conveyed to the County of Palm Beach, in the S of Florida, for road right-of-way. LESS AND EXCEPT the following: West 7t six inches of the North Half(N1/2) of the Northwest Quarter(NW 1/4) of th S theast Quarter (SEI/4) of the Northeast Quarter (NEI/4) of Section 10, To 44 South, Range 42 East, lying and situate in Palm Beach County, Flori SS AND EXCEPT the North 14 feet six inches thereof. �o 3 03375133.vl 41 � b �QtiRg . RANCHETTE ROAD TOWNHOMES A PORTION OF THE NORTHWEST ONE-QUARTER OF THE SOUTHEAST ONE-QUARTER I ScQ a PSM OF THE NORTHEAST ONE-QUARTER OF SECTION 10 TOWNSHIP"SOUTH RANGE 42 EAST CITY OF GREENACRESZ 1.1,11.11m ,PALM BEACH COUNTY,FLORIDA. B YEIFF?A MBE.Cx DEDICATIONS AND RESERVATIONS c,r --`�'-°v°—'-- v_. "jjA,11T 11 «.".11—. Tal Ezr `"� : xSHEET I OF 3 11.51ITI.II-10t�apxp aMO, iofi[ r :�04-4171 �r7 «:«+xal[. l(yxq I ,c«[s.�xf.«.ass. ••"°[..«am«...,cox,°...�c cD».,,«s ACKNOWLEDGEMENT :aBfaTIA4 ,r_o.11 Pc..*so.s sw«xa.am.w m TI aoaxo 11 Ilxc«01,o�°Kcs �I, of 02s �« TITLE CERTIFICATION ;T. ,�( «:aB«.°r•m x,s Pnmxcfo_________. a F,_ lF Tl Li-LI11 1-1. u s°oe�Fianan, LOCATION AND KEY MAP _ ° ":"»im 11 Tl.x. s maczsso s w.ss;cxs. PD1os lora»*xn»,x;s«as[»x.T[a».w:s ,«a..°P[,u.. np a. .xa nafx,.;a vasreo;n Pore»mc cowo iirW un y ar.«ncB[s alx x,, a o1s s va [a »mM;a:;°»f.F:x[I' — --- ------- o:a t' .P s.""::,° io F° :"x..E`L §gEf «o'TMT amu; wa «l °nt.wSx:`F°�«�.°Io..`DTT°x ' M. r—I - s °'°e.Aii:i;oa°f.°i:%"'.�sssxdEsis»`,` ACCEPTANCE OF RESERVATIONS _ o e.rx;s AREA TABLE jp* fxcu �ECSf" oa`xtcxf.k"o«K ,s s°P.assms ,x ., .. `OS,a„ra ml. ox.o.,e°,xis»gym`, T-1 .ao.,sa ss �`�'�p0oaTxF`s°c"o�:B.aw x` .;Ts s°cc.ssms.,m sss;axs..;Txmr Bfcmns. ,,�« n ;«c.. SURVEYOR AHO MAPPEWS NOTES: s��yym``.SO..`n'Lv'iry�°x�'` «fnsbE4i6-aeF'�F"FA€-si6€Fi ;Ts 111—All III—nf<Buasa,°Txe.;:1 os s CITY APPROVAL a o"6 ST TI 4 i°I I. al ACKNOWLEDGEMENT �` °ut `«":;4a` fm Pxos;,.;rz smcfsscas.w......»`'A`c[ss m sranr,T.B wx.aKyr ;4ir v ,«o o«e;x,u F,cu;nas.o<.rzo ssmsx,co x.,[n x,«,°[xa«, s. "s°B°"x°I—E'riKa"" o ax."w':`[sfxi':�*:a°M, °"en1,10ass I a F;"o:sso�';:xia'"I I wcai's`onss",,«ox12:'_ .i' 41TI»+°a»ar;c;uv;[s.x°..c.Px; n.rP«°vns wS G`ILII I,. IAT1I 11 1 1111 a Tr .cM ; er._. .___ _______ wffru FgmK. - - t-x t-A ��jQ( RV cio°1,1 ` TI lf DIFFERENT TIFES1(FI° f.sascx,s.«°Px:v s,acan.ssoc;.no r. DA�i . aBEcxoII «�fBBfxfm»oi:a:�z`,r.a. aAll III% t� x R° f F °I is 1 °Y w ux--a:-c irate:- ' .x«,s. lis°e i a°su"sa.�°i:L°wwr f«c�.ssco e.rx:s P.,r«:cx;s,ssm;,.I x:T«Txf°nux<cc oF1vu:c ixc.,.fin.;D,cm Bfx. xs;c cno«w r«f suw;v;oc°.umswT+a`"x{BeB ITn;za son III—FuxFosas.n. Txa co1B«.T;m,«° n.. suP..�°v w.»ca.cess[.0 m«es s«wucfc_.._____ ,s i TI-Ar;a. w..«.°[s,sr.». __. °«s. °_ ITsucam[°a «o Txs r.[."[saoT.:os»T;c;rr f<zau:«u w»«:xc.ox.c[x..«o 7 1111 W C IT OF REVIEMRNO SURVEYOR ._ _ 7lEeT n,.c�: .afs °«.,. os. :".`:i«Es°iiEc°xiiws°ic:nai.w`cwvas "t`»°m'" - � "''� s°a I. SURVEYOR'S CERTIFICATE u;�.nim r ca«;ss:°x vf'�iirrcr"E:si«°:�iPP`c��ii«E°.'aF��° �`o Si W E �x Aw. « E€�aT�` m[::o« TlT «: !o lIKR I I:;T;E;,; E«x�za,P1axaB ar Axa s;T. m. of F".EOY;p .. IE,A&a. b«aE�S�w sT. _xoa._.s_ _ »Tr IM »,. . .. V <s .xa wa T 11 K « l I iFIFN:cu°a`ir1°P i1 cE..;s;<,T:m1 11- „ax IN —PIT1111'I'All f t —/M1rME� S4NNl xB rawAs ";yip,w« =a=` Ak I i 42 �pyMEtF RANCHETTE ROAD TOWNHOMES Q q A PORTION OF THE NORTHWEST ONE-QUARTER OF THE SOUTHEAST ONE-QUARTER OF THE NORTHEAST ONE-QUARTER OF SECTION 10 TOWNSHIP 44 SOUTH RANGE 42 EAST I CITY OF GREENACRES,PALM BEACH COUNTY,FLORIDA. ABBREYNTgNS: s_�x, �"�� ► �.. z9 cr Noml COORDIIATEE BEARRM ANO DISTANCES SHEET 2 OF 3 e 5 _ .?8.. °,. x cm»r.u`, .�T TIMI c.sE..r I III NEY NAP .00r >law x AT n_i cl 7.0;'p osF a r i1MBacz., .a ,aka.z izno.E — I ` — I- 588.39'26" fiBt.fi3'N _ - _ I MT41RA — ------------------ ----------------°° 9°.oa -- w , 0 SGTid" ,e'66 'S6 �.IIOI fJb o3' 16W,J L'6—� JttTa,a �72- � �mi a 8 s Ri rR s i A s w 20 B S is o D Quo s ------------------------- �qa I I _ z�I In �ur°�I) q�zq. -I Rzno sro�so,�>ezR za�o srP� R I j ti as 0 00 3000' 3°.00 ,9.00',9 I18b eoo � s 'fM1 s9B zM MCMB Imo! 833.ia "' S: li —T— P -- _I3J00 ._._.__�_ -_ _._._. -_._ ._._. - ._..__.... _fie 6 _._.5-�a t. TRACT R h:. 8 a° 81 ....... __ �9_ A +_ 9 $ n ,_0 0 Jz.50'I IJi.O 30. 3.00 J. 9.0 saA Oc9 5Ts 2S= . 71 J '1 2 a - .anise•„l ie` naz Jfm q EezQ yza 6 65 W88�6J i. E8 9 I T2 R i$¢` tR o l v 8) grza u z A ze>0 s z0 4 Rzez °.azre sr I "S § - AI I� 22 8 � :< Y gi YI Ig 4I �� II ole s< a s so'T„ n I zJ Y t Lzl a +,. o Cw' J3.50' J4.J' 9.00 ae •000 e° Jc. an , MATCH LM '�SdS_4T.',35'bS f—'T__+__— sEE sMEEr 3 m g. 43 N"`bRTMETF RANCHE77E kOAD TOWNHOMES Qa q A PORTION OF THE NORTHWEST 0 E-QUARTER OF THE SOUTHEAST ONE-QUARTER a `y OF THE NORTHEAST ONE-QUARTER 0 SECTION 10 TOWNSHIP 44 SOUTH RANGE 42 EAST /�J f CITY OF GREENACRE t PALM BEACH COUNTY,FLORIDA. 15(XJ 11 rte.an z„se �6 evW,gl/a: A•E.]E�xr NOc MINATEIL BEARINGS AM OWTANM U¢ TwE up n�E.s m., wllacx. i 11— <E `fC6 wP R x a,¢„s.¢m y "' c.socx. ¢- wa ei`�9'n >o,xsr.�xr,am,o,usr z�c seB•p5'1._. 2. rx,cr ,¢ ¢v¢. SHEET 3 OF 3 E s5 / w>xa PaI", NEr wB oETAu. e see sNEET z MATCH LINE s - I �— sae•.¢soE wa aa' 5 pg SBD 4E T-7 3 s --------------------------------------__.______—____. _ ____ N93189I E{ I '� o r� Jda- • I IM� 25 ao�x,ao xee°x650' 00 „ � i I I __ •�¢ec I I I g -- 27, 54 b 93 a� { f $ v xee•ws'bsc i - I o'I, 20 i Q m z I I IP�� v u I I `� Natl•.¢'S0' _� j I I a l 9 Sol I I I�q 29 9 II 1 e'.e�S ---------------------------- ---------- 3 — - _ -____—_— I r t: 1 L ee ao voo .o nasal w °"-`a�n° ------ e� 3 , rho 3 I '6 8 1 s9900 xea•4¢'6 21. j JSS8 I gS R p �s IR .00 8 ,e 00 t0 2 _ ^1 y >I.� p4 W .saw Y hP as 8 g TR Cim- 44��Eo Opa.0 0. -� w139 0� xxro uP� _ IS j 3 8135 8 & 31 ':,I >¢a2 —T-1 36 RI J9 4a o i - xee g W I >o I 4Iu 50 c i I n 1 w s , �¢ I 1 >c 0 o a u I €I �-� rRncT n " 8 ____ _ I o I j I 8Ib N ]50 20 .1 �.u'[- 8 _ __ __ ----------- __ _ _ I r� a 1 t bee a 5, m tmt Bain id�'{i9;b1'I e7�Sb.W }�TSDS idb0'�tH 6d�3>'0�� W _ a _'r— N9e•ac so 44- nar' TRALT 51a.+a' .e.c.u.e. N .. .. _ sxwuxr r NBB•a0'O3"W 600.x4 ix.,cr -.s Ut xw,sE/%s[nex,o as az r - xe4 ¢5Ja t o etJ> 'PBIE0.'000 LMtE" _E. 4 Pulurn N ea>¢a. ------------------------ I I 44 �.v , t O a „ 4 1' � �};�� t�b' �a�l�)�{��ia�,.} "� `"'� s q tom' �r -• w:ten- ��'�si�X,�.�+ ,. � V alt N' s y I RIF LO sl, � ti i fib; V r s. fI" tom, p� N W !I dY as VACANT LAND SALE SALE NO. 3 LEGAL DESCRIPTION Lengthy legal description. See deed. RECORDED O. R. Book 31431,page 1454,Palm Beach County,FL GRANTOR Andrew Podray GRANTEE Barwick 40 Delray LLC DATE OF SALE May 12, 2020 LOCATION 13038-13132 Barwick Road Delray Beach,FL ZONING "RH", Residential High Density Rezoned to"PRD-6",Planned Residential Development DENSITY 6 dwelling units per acre SALE PRICE $3,250,000 PROPERTY DESCRIPTION Land size: 290,545 square feet, 6.67 acres UNITS OF COMPARISON $11.19 per square foot PARCEL CONTROL NO. 00 42 46 12 00 000 1020, 1050, 1060 CONDITIONS OF SALE Financing provided by New Wave Loans Residential LLC in the amount of$2,400,000 at the market rate of interest. Arm's length transaction. CONFIRMATION John Csapo, listing real estate broker COMMENTS This property was purchased to construct 40 single family houses. The developer is Stellar Communities. Grantee paid for the property to be annexed into the city of Delray Beach and to change the zoning. In return, the property was purchased with a contingency contract until the changes assured. Name of the new project is Banyan Court. 46 CFN 20200169898 OR BK 31431 PG 1454 RECORDED 05/16/2020 12:48:59 Palm Beach County, Florida AMT 3,250,000.00 DEED DOC 22,750.00 Sharon R. Bock This instrument,prepared by CLERK&COMPTROLLER (and after recording return to): Pgs 1454-1457; (4Pgs) *F' ority Piazza,Fres. Title Company ongress Ave. Suite 104 BoyntonRj &ch, F133426 �W- Property A ser's Parcel Identification Number(s): 00-42-46-12- -1020; 00-42-46-12-00-000-1050 and 00-42-46-12-0 -01060 0 SPECIAL WARRANTY DEED 0 ANDRE ODRAY ("Grantor"), whose mailing address 800 North Road Boynton Beach, Fl. 33 consideration of ten dollars ($10.00) and other valuable considerations received fr WICK 40 DELRAY, LLC, a Florida limited liability company, ("Grantee"), whos address is 2800 W. State Road 84, #118 Fort Lauderdale, Fl. 33312, hereby grants and eys to Grantee the real property in Palm Beach County, Florida, described on the attache 'bit A, along with any rights, privileges, hereditaments, appurtenances,and easements rela such real property. This conveyance isto the matters described on Exhibit B, but this reference will not re-impose same. t **Grantor warrants that at the time of this conveyance, the subject property is not the Grantor's homestead within the meaning set forth in the constitution of the State of Florida, nor is it contiguous to or a part of the homestead property. Grantor's residence and homestead is 800 North Road,Boynton Beach,Fl 33435** Grantor hereby covenants and warrants that the property is free of all encumbrances except as otherwise expressly provided herein,that lawful seisin of and good right to convey the property are vested in Grantor, and that Grantor hereby fully warrants the title to the property and will defend the same against the lawful claims of all persons claiming by, through or under Grantor. DATED this_L2 rday of1-04r 0. [SIGNATURES ON FOLLOWING PAGE(S)] 47 CFN 20200169898 BOOK 31431 PAGE 1455 2OF4 Sign nce of 0 (print �� ANDREW V ODRAY 0 (print n e): STATE OF FLOREDA.V COUNTY OF PALM B The foregoing ' bras acknow ged before me by means of[ ] physical or [ ] online notarization, this day in the year of 2020, by Andrew V. Podray who [ ] personally known to me or [ ] h duc d a driver's license as identification. MY COANggglpN 0 GG M207 Bo FeatY2,2024 nm,Notary Pylic u „ Now/y"s Special Warranty Deed-Page 2 48 DoublerrmeO CFN 20200169898 BOOK 31431 PAGE 1456 3OF4 0 EXHIBIT A TO SPECIAL WARRANTY DEED Property Description 0 A parcel o lying in the West One-Quarter of the Northwest One-Quarter of the Northeast One-Quarter of Section 12,To p 46 South,Range 42 East,Palm Beach County,Florida,and being more particularly described as follows. Commencing at tquarter corner of Section 12, Township 46 South, Range 42 East, Palm Beach County, Florida; thence Sou 01*14'31" East along the West line of the Northwest one quarter of the Northeast one-quarter of said Section 12,a d4&of 90.08 feet;thence South 88°53'46"East,(Departing from said West line),a distance of 40.03 feet to a point o East right-of-way line of Barwick Road, said point also being the Point of Beginning; thence South 88.53146" E parting from said East right-of-way line),a distance of 297.47 feet to a point on the East line of the West on r of the Northwest one-quarter of the Northeast one-quarter of said Section 12; thence South 01009'33"E said East line,a distance of 979.89 Feet;thence North 89'22152" West,(Departing from said East line),a distan o 5.% feet to a point on the East right-of-way line of Barwick Road; thence North 01.14'31"West along said East way line,a distance of 982.45 feet to the Point of Beginning. �v Parcel Identification Numbers: 00-42-46-12-00-000-1020 00-42-46-12-00-000-1050 00-42-46-12-00-000-1060 49 BANYAN COURT 1110 Paltll O<na OIRaAF a -aW w SflCMI 12 T M IDYR4 RMa u FAST, I 1 ® ary v<mar SFAaL wwr sfAa aurr,qaw s®�y {HQ 16RNIIFIsf MT wA}PAilD N _ M10 P.UALY."lf � I �tl taw fY aM WIEEIFFR.INC. 'ZIM c ;.ow aAon Aaw.■Aa,ao - i ,�lIF7. mom Rama nw-(eF;}wF-ron � __� "wm ii` sv""iwo� wii .^�awr �m��" amw'vas•w TAaILM DATA m x wws v rat s.N was rsa-a"-w.ssc"aarn¢s w.a ;ancArgs aoER A1D CaSSflIT: - `% A000PTAMLE 6 RESMAM.S: 1 I Al s - 2 1®1R1L nOQ SIIQT sms[mun.. •®�- -_. �._ c�fi----7 n.em��.s90��o n <w nd sue •m^ ss�m .. +wn P.4_Bt s.£___ -1e-.- ooi sM �s"'•�n w`i v�'��wo ^ , •`Mmi'a ows.o x on s uun sass rsm �"^aa we,a amsne u mt '^' RAS�' _�� ",�..3..�'N.'L�n.e,�s �- �C ._.- 2 meq. a.oESs ry®L��t� mei�ie� r1aM0r�lwEODyG.E1�b1�T:� •. 'sw[�wswra¢tl�w rwms� vl we m aortae � mn�v__AL IIsL___.. .fin w noo• 4 IYalal•wsmO�T➢I qI4 tl mu.s.o..r�nms p - oN i w�® NEWING SUR*-IV S STAG T-. �E "w p(nwaE. m o asN amc.wt.n uta aro amen.Sw. Aae4om EDmWff: tlw.aqui b 2!L r.a s�"tea n nasi i s`®`iam�s.. .v.r i. wuswv v x an s mruv �'m rs¢vn nN mrt¢ww®s n ss�iOMi�0�1. r Rs rrawzs. ��ryuE�{�aw�iwEwo��iwn�_s�o�^^rai W,iu'ro nv w� �pw a�i q .a w�u �/ �'•» 1 ®n ve y�� n x s^or..w smnf v w¢wco¢wt e.o�c m�a - �"• �'�� tl�imw.s�•it;�s�c�pfp .w.•s.a �Si m�[S o i �snsExs u«e •sOm n�� rE r�—mica r� •R `"�" an APrRwu� 2—r naaroammMMT: " 's 50 Ms RanuRw.ars wnnen n �p� OtM P.IJIOIfr,%S OOY.OM.�+iM10 MY 06f.NG6_ .�.. BANYAN COURT ow�s_nL.�as_yK,4,� mw.Parnat a•n[.apnrnsr ac-awrn a gcna ri m w S-K w u rm,. rsm angio Rma axR: arr a miur Enos PNY E�oa,Rrr,namr 91 �� earw Rnm..rwo. ixw-(swFMa-»a *lPill, _- .- -- - NORTH - 99 i' 44 _ CM' .aawiai y �]9 - g� UtzIx LAD Lam ----------------- y �. ---J----------------=—�==1=— saw .�...... as �� . 51 rAf■csf n aad M9FFFLR 9iC. BANYAN COURT <mana arrw Aw awAAEs WEER-nrW-wA,EYaaE E1R A HTlall Q IIE IQ.EtSI OE-0WlRR Of 9E:aa,fi laall9i b 9aflal aMa.Z 11[ASf, w_^ f'�" as goo auoa Awa snc foa En or naw aoG MR nolo{dSlds-pwla-nn I.=shm B 59 11 x qmw 9 or 3 lit , mwx�f M 4i // NORTH i 1 ;�� "� auwa�aauwo 9a - � awrfK scram L-7 9( F;� a..� ` fcafo�AE.xeAAnws F ;s3 ms,�..., &eI Ems' a 52 a aka a' 9 � � a 4 F'�rt r { bti1'lonvNao a 1 w Y l LAND SAL 3 13038-13132 BARWICK ROAD DELRAY BEACH, FL 53 VACANT LAND SALE SALE NO. 4 LEGAL DESCRIPTION Lengthy legal description. See deed. RECORDED O. R. Book 32129,page 806,Palm Beach County,FL GRANTOR HDP Ranchette Lake LLC GRANTEE Lennar Homes LLC DATE OF SALE January 19, 2021 LOCATION 1200 Ranchette Road Greenacres,FL ZONING Residential, low density DENSITY 5 dwelling units per acre SALE PRICE $3,828,000 PROPERTY DESCRIPTION Land size: 371,342 square feet, 8.52 acres UNITS OF COMPARISON $10.31 per square foot PARCEL CONTROL NO. 00 42 44 10 37 000 0010+ CONDITIONS OF SALE Cash sale. Arm's length transaction. CONFIRMATION Christopher Fiegen for grantor COMMENTS Grantor sold the property platted and partially sold to end users. Entire project contains 44 lots, with 33 sold in this transaction. The project is called Ranchette Lakes. House and lot price range is $367,000- $450,000. 54 CFN 20210036424 OR BK 32129 PG 806 RECORDED 01/26/2021 11:52:00 Palm Beach County,Flonda AMT 3,828,000.00 DEED DOC 26,796.00 Joseph Abruzzo Clerk Preyared by and return to: Pgs 0806-0807;(2Pgs) Todd k4urber,Esq. P Ind Title Insurance Agency,Inc. 830 . venue Delray ,,FL 33483 561-368- File Num I_AW67 Will Call % Space Above This Line For Recording Data] 'If00F Special Warranty Deed This Special Warn Deed made this 19th day of January, 2021 between HDP Ranchette Lake, LLC, a Delaware limited fat .' -company whose post office address is 908 Main Street,Evanston, IL 60302,grantor, and Lennar Homes,LLC,a FFlimited liability company whose post office address is 8895 N.Military Trail,Suite 101-B,Palm Beach Gard 10,grantee (Whenever.used herein the temps tx indude all 9re parties to this instrument and the hews,legal representatives,and assig is of iudividuek, and the successors and assists of artd tmstecs) Witnesseth,that said grantor,forideration of the sum TEN AND NO1100 DOLLARS(SI0.00)and other good and valuable considerations to said hand paid by said grantee,the receipt whereof is hereby acknowledgert has granted,bargained,and sold to the said grantee's heirs and assigns forever,the following described land,situate, lying and being in Paim Beach County,F ,to Lots 1,4,6,7,8,.9,10,11,12,14,1 1 18,20,21,23,24,25,26,27,28,29,30,31,32,34, 36,37,38,39,40,41,and 44,of TTE LAKE,according to the Plat thereof,as recorded in Plat Book 126,Page 118,of the PubPe s of Palm Beach,County,Florida. Parcel Identification Numbers: 00-42-44-I 3 010, 00-42_44-]0-37-000-0040, 00-42-44-10 37-000-0060, 00-42-44-10-37-000-0070, 00-42-44-10-37- 080, 00.42-44-10-37-000-0090, 00-4244-10-37-000-0100, 00-42-44-10-37-000-0110, 0042-44-10-37-000-0120, 00-42-44-10-37.000-0140, 00-42-44-10-37-000-0160, 004244-10-37-000-0170, 004244-10-37-000-0180, 00-4244-10-37-000-0200, 00-42-44-10-374000-0210, 0042-4410-37-000-0230, 00-42-44-10-37-000-0240, 00.42.4410.37-000-0250, 00-42-44-1037-000-0260, 00-42-44-10-37- 0-0270, 0042-44-1037-000-0260, 00-42-44-1037-000-0290, 00-42-44-1037-000-0300, 00-42-4410-37-000-0310, 00.42-44-10-37-000-0320, 00-424410-37-000-0340, 00-4244-1037-000-0360, 00-42-4410-37-000-0370, 0042-44-10-37-000-0380, 004244-10-37-000-0390, 00-42.44-10-37-000-0400, 00-42-44-10-37-000-0410 and 00-42-44-10-37-000-0440 Subject to taxes for 2021 and subsequent years; covenants, conditions, restrictions, easements, reservations and limitations of record,if any. Together with all the tenements,hereditaments and appurtenances thereto belonging or in anywise appertaining. To Have and to Hold,the same in fee simple forever. And the grantor hereby covenants with said grantee that the grantor is lawfully seized of said land in fee simple;that the grantor has good right and lawful authority to sell and convey said land;that the grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons claiming by,through or under grantors. In Wituess Whereof,grantor has hereunto set grantor's hand and seal the day and year first above written. DoublaTtme® 55 CON 20210036424 BOOK 32129 PAGE 807 2OF2 Siga4 sealed and delivered m our preseow HDP Rancheee Lake, LLC, a Delaware limited habjWy Company u „(1 By:BDP Bhse[avestincals,LLC,a Delaware lined ' O liabift may.Its Mwager By: HDP Blue Hsoldhtgs,L LC,a Delaware limited 1 sM7ity company,its Mardagar By. Labe Capital,LLC,a Delaware limited liability � `,Manager ' 1� Vj4qs By: s Nance er el0 _ U311i Stam of I M06 County of I7fe faregomg instrument was aclolowleIpd O means of presexioe or oaliae noiariration,this IMh day of Jaaaary,2U2 1 By ilbI kim a Lake, i ` liaby company,By MP EOMs kmstmmnts,LLC, a Delaware limited liability company,hs Manager,By HDP Blue Holdings,LLC,a Delaware limited liability company,its Manager, By Crass Labe Capital, LLC, a Delaware lianted liability company, its Managm, By Christopher L Regan, Manag+mr, on behalf of the company. He/she�rpwonwiy known to meW(pq has pro&wed a drives hcaoae as identification [Notary seat] uc Printed Alamo: 00(o DrAdVWnWAD p�mi seep my commission lam:NowyPubft sate of mom 8 2� My De f eKpku 12Jt "M *decd W&—w Deed-Pegs 2 DonbleTima° 56 Eaoi80330So RANCH97TE LAICNORIHEAST AR SECVOM 10.TOrMA194�PMT444 SWVI�ERANM 42 EEAST.T,Eri—OUW EWLH COUNTY,FLOMA o tltl 1 I' �twlllC—cAtiBeEAH Y&Oj"r.Mac. IT— e ._ I � floe"rA�lat w.wx.0 4:b, i ae`"pma AMOOKSOmort 9868Y I OF 9 In MM a riw wYraarrr weer. ales ULFY euaeirs. ��3fI/w]�1 _ f�— w.cv wn,an x w.w wna.wma w owY a.m rown ry vnrm wear.m a..soou.ao wmc 3' w'°" wrr.o.,9K .seas m Win` `�•m• VILE COMMA ft wnrtv� a.w� v u+u %aresan w xnms rs w_ wrEwr�GM�Mn7° mq�,41�V�P�'cw�m�wor,ne u.Eo•eea Lwtsg9 9JR1flVt k YWilPrrlP'S M41E3 yassurQ po awnwo(wase M.ne w us�e ra.,..e w ws w ,r. r wc� n.,n�s`w,eam.� vev�we�.no.mope�a� � ��v n`u"°'s.n'�'o,�• m. w�E.w•• w.a m '^ ,a w� -me..,. suMYaLt a worms LLfIrIG11E 6 p4MIi wN(Ip t 1,w31U411el1uh2 wC��9 w.mt 6 vo mwww _ w,wp gy qe ..o♦ r va.s m...a.a mwrv. o w<..wow,.we,mM,at.gn,m.c m ��.m m mCr 4.� 1 0..a-PL's #.� :. hn,wv'u w .am.na.n m®�..e6eA3 Tense+4i�.Tit 9...anmwwrw saw _w,sa vazea,aauma.n.o w.ea,wars.ao.w.w,x..;a...w..wa �aim.eswm.n uw LLl11Y EV0�II! uo o+w rocn,u wrnw.�Ivo a s�.�.mw irs airs.w amn.e,w,rca�np ��ivresc�e�p�wws.e-�® �S,�rr .wrw.mffwmvu.aw..uo.,.�wssnm,rswosuat,m,.,_J—w.rs�__��mY .�w�rswwv.n ,�'rs� 7��" 57 RANCREM LA" Sao mWn lmo A PORTON dF T#NORTIEAST ONE-OOARTER 6 A7lAlITC-GWBBEAN YAPPW&RiC. SECTON 10,TOMN90P M SWT4.RAtM�a7 EAST.PAW BEACN COIAITY,ROFimA 'c A 81 LL.IIA O•.�f PNY ll[M1.flLm.SNI! k- y �,� tsnaea-,ew NORn+. � c ( ( 7 - - - - - - - - - - yanaflNEmer'Yaw9 _ _ _ _ _ _ _ _ _ _ _ _ _ N TTM NMT f _ �- 15 R t BMW 3 0!9 g { " d� \ \s`� ' .res i��-•_c r� �a g i I `S_ .74 i 1 -- , --------------- -_ ,mm___L 1 8I 15smmwrr.nmwPRPCarm'z�mrcrmm�wr�"�'Mar'.bfsrz 43 TRACT L2 Lv.a. I • ( g - ----„-_-- r = y42 lU 94 -_D�21� I I� ------------ -- - i -----4 i s ` I s v za 25 1 I a a 19 ,g 1 .mom a A <»< .. ae I 35 3A 1 37 32 31 K 18 I9 j 8 �B $ t f I I i (mrexs�w �uc A _ UMPLaTrtn `e�+°groi.awrr.:n rmem us�,ob. _ 58 RANCREM LAKE ATI.M77MrGPIBBEAN YAPPWG.BIC. A PORTION OF THE "- gT Icy nI,IEs'r pay lAp1 Rpp�swu NORTHESTSE R11K,SECTION 10,TON9lPMSCUTN,RANG t2 AECOUNTY,FLORIDA JlNORTH �aarr. lNix we awe u�am.�unwr.n 'Um ZU,7US- SEW P Or 9 , � rop --i-- , SF�FD/>89S11A]MJ16 I W I , 1 93s`ApI�§ ffi88^__ �i ee �a I ij� f a g ,Sim' .- �i I V�'� _ �i I� ' iRA[T i I 5 ii I iau;i f U P AT1ED iI S _s4 G — — _— — — — m&Tm LRE sMw 9 Or 9 59 W O W O 7 LL O i W ti ^ O > N +O+ 7 N n V N 6 7 Q � {n u V O O O O a` oo � C O Ln o o Io C11 0)LL Ol N Om 3 N In Q w C W 0 0 a.. y OO O O E 00 °1 0 s o 0 0 o vOi s rn w m m to W W � a R 0 y 0 0 0 0 u O m O Ln vi a N o 0 0 0 rn rn m Q Ni In In a N 7 0 0 O O 0 0 O 0 � 0 0 0 � -y o m O+ Ln N 0 Lr + Lr O O 0 W + C y O N 0 I, LQ r, 0 � O � C C 0 Q Q Q V�1 Q f0 Q O Q Ln I, to M O O Ln O O Z Q Q v m m 0)b.0m - Z V ON v 3 v 3 a v 0) 3 m ir W Lf N W W O I, a LL m . C � Ln L m Zo � Ln O O' 6 0 06 4c in N a N m o N a o 0 o n o W o V O L�i1 O Om O m D O O O m O tico a N W G N N M N J F 0 i O O 0\ 0 Ln cliN N 7 Ln- co LnO > m �Q W z W O ,� o Z LL N F J m m C c t N LL J V LL ca Co W J 71 i 71 i W N 0 0 Q yam. m N V m m N CO V f6 CO W i C (, O O O M T O O 7 Z >• W0 c m ` to Co Q O [O M M N W 71 N N Z 3 !% z a J SALES COMPARISON APPROACH LAND VALUATION Of the several methods to develop an opinion of land value, the one considered the most reliable is the Sales Comparison Approach. In this method, sales of similar vacant parcels are compared to the site concerned; then adjusted for differences to arrive at land value. 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 the most reliable sources, including details of financing and any special considerations or non-typical market features. 3) Select relevant units of comparison and develop a comparative analysis. 4) Compare and adjust the sales to the subject using significant, market-derived units of comparison. 5) Reconcile all value indications from the comparisons into a value opinion by this approach. Highest and best use for the appraised land is to improve it with a medium density residential project of about 10 units per acre. Land size of the subject 201,778 square feet or 4.6513 acres; zoning is "R-2", One-family or Two-family Residential District. The subject market area is in the revitalization stage of its life cycle. A search was made to find recent sales of tracts of land purchased for low to medium density residential use. With a scarcity of such parcels and few of them selling, the search covered central Palm Beach County. Of the sales reviewed, the four that are more similar to the subject are included in this appraisal. Details of the transactions are on the sale sheets and chart. The unit of comparison used by buyers and sellers of residentially zoned land is the Sale Price per Square Foot of Land or Sale Price per Dwelling Unit. With the sales having various densities and the density for the land concerned not yet known, the better unit of comparison to use is Sale Price per Square Foot. The range of unit prices of the land sales is from $6.36 to $11.54 per square foot, before adjustment. 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 states that there are several 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. Adjustments for transactional elements are made, then, attention is focused on the second group,property elements. This second group of property elements consists of location,physical characteristics and use. (Continued) 61 SALES COMPARISON APPROACH (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,below, or above market rent. The interest valued for the subject property is fee simple. The land sales were all conveyances of fee simple interests without leases. No adjustment is necessary 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. The reverse is also a possibility in which lower sale prices result from above market financing. Sales 1, 2 and 4 were cash transactions, the most common method of purchasing vacant land. With third-party lenders readily making loans even on vacant land, the grantee of No. 3 took advantage of this situation and gave a mortgage to a loan company. Loan to price ratio was 74%, requiring the borrower to have equity in the land. The financing terms reportedly did not have a significant effect on the price. Therefore,no adjustment is 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. None of the land sales are transactions by lenders after foreclosures of prior mortgages on the properties. Grantees of sales purchased the properties to construct new housing on them. Each of the parcels was purchased for a specific project, not speculation. Conditions of sale for the transactions cited in this report appear to be typical for the market they are in, with no adjustment necessary (Continued) 62 SALES COMPARISON APPROACH (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. There is an upward trend in land unit prices in South Florida, due to scarcity of developable land. The upward trend is accelerating more rapidly even than the annual inflation rate. The upward trend will level off, but the price increase will remain in place. Each of the land sales is adjusted upward 10% annually for market conditions to the effective date of appraisal. The amounts of the adjustments are shown on the chart. Adjustments for transactional elements of comparison were considered; now, property elements of comparison are addressed. 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, proximity to other competing properties, proximity to a market that will use the goods and services housed in a property, governmental influences, average daily traffic flow, etc. Typically, properties in a neighborhood share some of the same locational characteristics such as age, condition, and style. The appraised property and the land sales are in central Palm Beach County, with the subject being the eastern most. Although there are some differences in the specific locations, they are not significant enough to warrant adjustment to the sales for this element of comparison. 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, depth, topography, view, access, functional utility, degree of readiness for development, et cetera. The land sales have a size range of 5.17 to 10.58 acres, with the subject at 4.65 acres. There does not appear to be a direct relationship between parcel size and price per square foot. The more significant aspect of physical characteristics affecting price is stage of development of the site. The appraised land has zoning and land use in place which could permit a project of about 46 dwellings. (Continued) 63 SALES COMPARISON APPROACH (Continued) Land Sales 1 and 4 were platted when sold. Conversely, Sales 2 and 3 were not platted or approved for a specific number of dwelling units. The development process requires about a year to complete and the expenditure of funds to pay for professional fees of legal services, planning, engineering, et cetera. Grantees of Sales 2 and 3 expended the time and costs to have the parcels platted and other changes made to permit future residential use. These sales are inferior to Land Sales 1, 4 and the appraised land, and are each adjusted upward 10% for physical conditions. The amounts are shown on the chart. Use For sites to be comparable, they should have similar uses. The highest and best use for the property appraised and the sales is for low to medium density residential projects. No further adjustments are made for this element of comparison. FINAL VALUATION The adjusted unit prices for the sales are as follows: Sale No. Adjusted Price/ SF 1 $12.98 2 $ 7.41 3 $14.77 4 $11.60 The range of the adjusted sale prices is from $7.41 to $14.77 per square foot. Adjustments were made to the sales for market conditions and the physical characteristic of stage of development. Each of the land sales has some similarity to the subject; however, Land Sales 1 and 4 did not require an adjustment for physical characteristics. Land Sales 2 and 3 are adjusted for physical characteristics, with adjusted unit prices at the ends of the range. Greater weight is placed on the adjusted unit prices of Land Sales 1 and 4, with fewer adjustments. Considering all of the foregoing discussion,the unit value of the appraised property is $12.25 per square foot of land. The quantity of the comparable is sufficient to observe market activity in central Palm Beach County for parcels that will be improved with low to medium density residential projects. The quality of the data is good in that it provides a sound basis to develop an opinion of value for the property 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 March 15, 2022 is: 201,778 square feet x$12.25/square foot=(rounded to) TWO MILLION FOUR HUNDRED SEVENTY-TWO THOUSAND DOLLARS $2,472,000 64 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 previously appraised the property on August 10, 2020. 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 February 25, 2022. 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 continuing education program for Designated Members of the Appraisal Institute. Continuing education programs are also completed for the American Society of Appraisers and the State of Florida. March 15,2022 Jesse B. Vance, Jr., MAI, SRA, ASA Florida State-CertifiedGeneralReal Estate Appraiser No. RZ-85 March 15,2022 Claudia Vance,MAI Florida State-Certified General Real Estate Appraiser No. RZ-173 65 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. 1. 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 furnished 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 Real Estate Appraiser No.RZ 85 March 15,2022 Claudia Vance,MAI State-Certified General Real Estate Appraiser No.RZ 173 March 15,2022 66 ADDENDA 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. 68 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 69 ' 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 kn I LL O W N O Q' O O O O �cc 0 mo `n U •� O OO o ffQ .. Imo . . ori, "' o o N o d �m a � � r-: z to z 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. 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 to 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. 72 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 73 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. 74 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. 75 http://www.amlegal.com/nxt/gateway.dll/Florida/boynton/partiiilanddevelopmentregulation... 1/8/2015 SUMMARY OF 2020-2022 USPAP(Uniform Standards of Professional Agnraisal Practice) Standard Rule 2: Real Property Annraisal. Re on rting In reporting the results ofa 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 substantive content ofa 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 a 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 RULE 2-2 Each written real 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. An appraiser may use any other label in addition to, but not in place of, the labels set forth in this Standards Rule for the type of report produced. The use of additional labels such as analysis, consultation, evaluation, study, or valuation does not exempt an appraiser from adherence to USPAP. The report content and level of information requirements in this Standards Rule are minimal for each type of report.An appraiser must supplement a report form, when necessary, to insure that any intended user of the appraisal is not misled and that the report complies with the applicable content requirements. (a) The content of an appraisal report must be appropriate for the intended use or the appraisal and, at a minimum: (i) state the identity of the client, or if the client requested anonymity, state that the identity is withheld at the client's request but is retained in the appraiser's workfile; (ii) state the identity ofany other intended users by name or type; (iii) state the intended use of the appraisal; (iv) contain information, documents, and/or exhibits sufficient to idents the real estate involved in the appraisal, including the physical, legal, and economic property characteristics relevant to the assignment; (v) state the real property interest appraised; (vi) state the type and definition of value and cite the source of the definition; (vii) state the effective date of the appraisal and the date of the report; (viii)summarize the scope of work used to develop the appraisal; ()x) summarize the extent of any significant real property appraisal assistance; 76 SUMMARY OF 2020-2021 USPAP(Uniform Standards of Professional Agnraisal Practice) Standard Rule 2: Real Property Annraisal. Reporting (x) provide sufficient information to indicate that the appraiser complied with the requirements of STANDARD I by: (1) summarizing the appraisal methods and techniques employed; (2) stating the reasons for excluding the sales comparison, cost, or income approach(es) if any have not been developed; (3) summarizing the results of analyzing the subject sales, options, and listings in accordance with Standards Rule 1-5; (4) stating the value opinion(s) and conclusions(s); and (S) summarizing the information analyzed and the reasoning that supports the analyses opinions, and conclusions, including reconciliation of the data and approaches; (xi) state the use of the real estate existing as of the effective date and the use of the real estate reflected in the appraisal; (xii) when an opinion of highest and best use was developed by the appraiser, state that opinion and summarize the support and rationale for that opinion; (xiii) clearly and conspicuously: • state all extraordinary assumptions and hypothetical conditions, and • state that their use might have affected the assignment results, and (xiv)include a signed certification in accordance with Standards Rule 2-1. STANDARDS R ULE 1-5 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; b) analyze all sales of the subject property that occurred within the three(3) years prior to the effective date of the appraisal. 77 475.611 Florida Statutes: Definitions.- (1) As used in this part, the term: (a) "Appraisal"or"Appraisal Services" means the services provided by certified and 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 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. (j) "Department" means the Department of Business and Professional Regulation. 78 2020 FLORIDA STATUTES Title XXXII Chapter 475 View Entire REGULATION OF PROFESSIONS REAL ESTATE BROKERS, SALES Chapter AND OCCUPATIONS ASSOCIATES, SCHOOLS, AND APPRAISERS 475.628 Professional standards for appraisers registered, licensed, or certified under this part.— (1) The board shall adopt rules establishing standards of professional practice which meet or exceed nationally recognized standards of appraisal practice, including standards adopted by the Appraisal Standards Board of the Appraisal Foundation. Each appraiser registered, licensed, or certified under this part must comply with the rules. Statements on appraisal standards which may be issued for the purpose of clarification, interpretation, explanation, or elaboration through the Appraisal Foundation are binding on any appraiser registered, licensed, or certified under this part, upon adoption by rule of the board. (2) The board may adopt rules establishing standards of professional practice other than standards adopted by the Appraisal Standards Board of the Appraisal Foundation for nonfederally related transactions. The board shall require that when performing an appraisal or appraisal service for any purpose other than a federally related transaction, an appraiser must comply with the Ethics and Competency Rules of the standards adopted by the Appraisal Standards Board of the Appraisal Foundation, and other requirements as determined by rule of the board. An assignment completed using alternate standards does not satisfy the experience requirements under s. 475.617 unless the assignment complies with the standards adopted by the Appraisal Standards Board of the Appraisal Foundation. History.—ss. 9, 11, ch. 91-89; s. 4, ch. 91-429; s. 35, ch. 98-250; s. 22, ch. 2012-61; s. 9, ch. 2017-30. 79 Vance Real Estate Service 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: vancevalL&comcast.net Web Page: www.vancereatestateservice.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)#003439 MBA DEGREE - REAL ESTATE MANAGEMENT AND DEVELOPMENT STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER#RZ-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. 80 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) 81 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/Lender Liability(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 Boob)(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) 82 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(I 1/15/2013) 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 F1a.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'Uniform 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) SEMINAR(AI) 3 Hours"Parking Impact on Florida Properties"(5/4/2018) SEMINAR(AI) 4 Hours"Technology Tips for Real Estate Appraisers"(9/21/2018) SEMINAR(AI) - 3 Hours "Airport Appraisals) (01/25/2019) SEMINAR(AI) 4 Hours"Understanding an Investigation by a State Appraiser Regulatory Board or Agency(5/17/2019) SEMINAR(AI) The 50%FEMA Appraisal Rule(8/23/2019) COURSE (BR) 14 Hours Required Education(8 hrs.Specialty Education;3 hrs.Core Law;3 hrs.Business Ethics(9.3.2019) SEMINAR(AI) Artificial Intelligence,AVMs,and Blockchain:Implications for Valuation. (1/24/2020) 83 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 I) 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 84 Vance Beat Estate Service AOMMONOMMIRL OF 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: vancevaIL&att.net Web Site: www.vancereatestateservice.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 C)QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION U.S.Bankruptcy Court, Southern District of Florida Florida Circuit Court:Broward County D)PROFESSIONAL DEVELOPMENT PROGRAM REGISTRIES Valuation of Sustainable Buildings: Commercial Valuation of Sustainable Buildings: Residential E)EXPERIENCE:35+years appraising and analyzing real property interests in South Florida. F)APPRAISER SPECIAL MAGISTRATE FOR THE BROWARD CO VALUE ADJUSTMENT BOARD 2002-2010 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 85 G)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 H)EDUCATIONAL BACKGROUND Academic: Bachelor of Arts Degree—University of New Orleans,New Orleans,LA—Major: English Professional: 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(199 3) SEMINAR(AI) ADA ACT(1993/Reno) SEMINAR(AI) Hotel Valuation(1993) SEMINAR(AI) Income Capitalization,Methods(199 3) 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(199 5) SEMINAR(AI) Outparcel Valuation(199 5) SEMINAR(AI) Computer Technology Video Conference(199 5) SEMINAR(AI) The Internet&the Appraiser(1996) SEMINAR(AI) Florida Commercial Construction(1996) SEMINAR(AI) 1996 Data Exchange(1996) SEMINAR(AI) Real Property Rights in Florida(199 6) COURSE (Al) USPAP&Florida Real Estate Core Law(1996) SEMINAR(AI) Valuation of Trees(1997) 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/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 IFIntermediate(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 P 8Gctice:Concepts&Applications(2000) H)EDUCATIONAL BACKGROUND(Continued) SEMINAR(AI) Analyzing Income Producing Properties(2000) COURSE (AI) USPAP&Florida Real Estate Core Law(2000) SEMINAR(AI) Mediation&Alternate Dispute Resolution Seminar(200 1) 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 Government Regulations(2009) SEMINAR(AI) Property Tax Assessment(20 10) SEMINAR(AI) 7 Hour National USPAP(20 10) SEMINAR(AI) Florida Law for Real Estate Appraisers(20 10) 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 Book"(2011) COURSE(AI) 15 Hour Appraisal Curriculum Overview(2011) SEMINAR(AI) Spotlight on USPAP—Agreement for Services(2011) SEMINAR(AI) Trial Components(2011) SEMINAR(AI) Lessons from the Old Economy Working in the New(2012) SEMINAR(AI) Appraisal Review for General Appraisals(2012) COURSE(AI) National USPAP Update(2012) SEMINAR(AI) 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-Residential&Corrunercial Valuation of Solar&passed exam(2018) SEMINAR(Al) -Airport Appraisals(2019) SEMINAR(AI) -Practical Applications in Appraising Green Commercial Properties&passed exam(2019) I)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 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) 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 88 s u BOYNTON ,, Al >��,,,�„Y�t ,,,,,, , BEACH Lkkk LETTER OF INTEREST Boynton Beach Cottage District Development AST TO EST Proposal Contents I-able Contents LETTER OF INTEREST FOR COTTAGE DISTRICT DEVELOPMENT.........................................................................................................2 DEVELOPMENT TEAM INFORMATION.............................................................................................................................................3 A. DESCRIPTION OF LEGAL STRUCTURE..................................................................................................................................................... 3 B. PROPOSER'S PRINCIPALS,PARTNERS AND OFFICERS...............................................................................................................................4 PROPOSED SITE PLAN AND MODELS............................................................................................................................................. 11 RELEVANTPROJECTS................................................................................................................................................................................ 18 ..................................................................................................................................................................................................... 22 ..................................................................................................................................................................................................... 22 ..................................................................................................................................................................................................... 22 FINANCING AND OTHER PROJECT DETAILS.................................................................................................................................... 23 POTENTIAL HOMEBUYERS AND OUTREACH PLAN......................................................................................................................... 24 APPRENTICESHIP,LOCAL HIRING................................................................................................................................................................ 24 LICENSES,CERTIFICATES,AND OTHER DOCUMENTS...................................................................................................................... 25 1 Letter st for Cottage District s 61 EAST TO WEST DEVELOPMENT CORPORATION dA April 5,2022 Thuy Shutt, Executive Director Boynton Beach Community Redevelopment Agency 100 E.Ocean Avenue Boynton Beach, FL 33435 RE: Letter of Interest r Cottage DistrictDevelopment Dear Ms. Shutt: Thank you for the opportunity to submit this Letter of Interest (LOI) for the above referenced project. Having explored the CRA's desired outcomes, we have provided what is believed to be relevant information to assist you and the Board in making an informed decision in selecting a Developer to advance this project. Our team is confident that it is well suited to successfully complete the development of new affordable housing in the Boynton Beach Cottage District, part of the Community Redevelopment Area. East to West Development Corporation (ETWDC) is a registered 501 © (3) entity that has a mission to provide affordable(and workforce)housing in the most challenging markets. The leadership of our organization possesses nearly 150 years of experience in the areas of affordable housing, community and economic development, planning, residential construction, and banking. Additionally, our experience as local government practitioners should lend assurance as to our ability to understand the project scope and execute the project effectively. Our team's qualifications for this project is further leveraged by its collaboration with Stuart&Shelby Development, Inc., a state licensed General Contractor. Stuart & Shelby has been providing the highest quality residential construction since 2006 and is a leader in the development of affordable and workforce housing. Like ETWDC, Stuart&Shelby Development's team of professionals has over 100 years of industry experience. As you read through this Proposal, you will conclude that this team is highly experienced, knowledgeable, and motivated. The principals of ETWDC&Stuart&Shelby have worked successfully in the past to develop workforce housing in another South Florida redevelopment area. We look forward to working with the Boynton Beach CRA in its endeavor to provide affordable housing in the Redevelopment Area. ;D� DDaniel A. Rosemond,CEO/Founder daniel@etwdc.org 2 Development Team Information As indicated in our LOI, East to West Development Corporation is a registered 501 © (3) entity with business operations in both Florida and California. For purposes of this Proposal, we have partnered with Stuart and Shelby Development, Inc. that will serve as the General Contractor to construct the proposed affordable housing units. If awarded, we plan to establish a single purpose entity (Limited Liability Corporation)for the development of the proposed housing units. a. Description of Legal Structure Company Names &Address: East to West Development Corporation: Non-Profit—501 (c) 3 (FEIN: 83-1236408) 700 US One, Suite C North Palm Beach, FL 33408 Stuart & Shelby Development, Inc: Privately Held (TIN: 20-5655224) Stuart & Shelby Development, Inc. 205 George Bush Boulevard Delray Beach, FL 33444 3 . Prosr's Principals, Partners and Officers ,t , DANIEL A. ROSEMOND CEO/FOUNDER LAST TO WEST DEVELOPMENT CORPORATION EDUCATION E Master of Science St.Thomas University Public Administration C Graduate Certificate St.Thomas University HR Management DISCIPLINE EXPERIENCE r Affordable&Workforce Housing Administration: 15 Years r Commruiity&Econorriic Development: 15 Years Budgeting,Finance, acrd Grants Adnrinistration: 20 Years r Public Administration: 30 Years NOTABLE ACCOMPLISHMENTS &RELEVANT PROJECTS ' Administrative level involvement of fanding and oversight of more than 70 affordable housing projects yielding approximately 10,000 runts of housing Charipioned the establishment of new HUD entitlement city, cultivating 10-fold annual find ng increase and achieved national recognition fi°oin HUD Secretary Shawn Donovan Assumed oversight of an underperforming Redevelopment Agency, and successfully resolved issues stemming from. 01G audit ✓ Budget preparation and oversight experience well north of$120M ArtSquare,Hallandale Beach(priv=ate development) A mixed-use development consisting of 10,264 square feet of retail commercial use, 358 residential units, and a 2-story parking garage. Cost:$8QM Role: Negotiated (and administered) Development Agreement on behalf of City/CRA to garner redevelopment of 3 city blocks as part of this project. Diplomat,Hallandale Beach (priv=ate development) Mixed use development providing 938 hotellcondos, new clubhouse, and 30,000 restaurant and retail space on existing golf course. Cost:$650 M Role:Negotiated(and executed) Development Agreement on behalf of City, generating $6.5M in monetary contributions and in-kind services by Developer. Neighborhood Stabilization Program(NSP), City of Miami Gardens Established by Congress, the objective of the NSP was to stabilizze communities impacted by foreclosures through the purchase and redevelopment of these residential properties. Cost:$6.8M I 4 Role: Project lead; achieved national recognition from HUD Secretary for being first city in the country to successfully complete the acquisition, rehab,and resale of foreclosed property to income eligible family. Ward Towers,Miami Dade Affordable Housing Corporation 100-unit State of the Art Assisted Living Facility. Project involved a capital stack consisting of Surtax, LIHTC, Bonds, and HOPE VI. Cost: $17M Role: Board Director,project development oversight, DA negotiation and funding coordination. EMPLOYMENT HISTORY • City Manager/CRA Executive Director City of Hallandale Beach 2016 • Deputy City Manager/CRA Director City of Hallandale Beach 2013-2015 • Assistant City Manager City of Miami Gardens 2009-2013 • Community Development Director City of Miami Gardens 2006-2013 • Assistant Director, Community Dev. City of Miami 2003-2006 OTHER CREDENTIALS Florida Redevelopment Association Certified Redevelopment Administrator 2015 ICMA Credentialed Manager 2015 Miami Dade Housing Finance Authority Board Member 2004-2014 5 COREY W O'GORMAN.) AICF' 700 US-1, Ste C,North Palm Beach,FL 33408 (561)863-2722•coreyAplacepnd.com Education Rollins College Bachelor of Arts, Environmental Studies 1983 American Institute of Certified Planners (AICP) Certification - 1991 Affiliations Palm Beach County Commission on Affordable Housing, July 2018 to present Planning Commission, Village of North Palm Beach, 2012 to 2016 Florida Planning Association member, current Florida Housing Coalition member, current Florida Redevelopment Association member, current Florida Trust for Historic Preservation member, current PB County League of Cities associate member, current North Palm Beach County Chamber of Commerce member, current WORK EXPERIENCE & QUALIFICATIONS, PLACE Planning& Design, Inc. North Palm Beach, Florida President 2006-present Responsible for all aspects of company activities including client relations, business development, contracting and invoicing, and completing all company projects which include: • Due diligence feasibilities studies to evaluate development potential, how to proceed with the development process, and/or for possible investment. • Applications for various governmental approvals for site plan, zoning, permitting, etc., on a wide range of projects including residential, commercial, industrial and institutional. • Direct and oversee the design, permitting and construction for various projects as the Owners' Representative Project Management, serve as owners point of contact. • Provide zoning consulting services and code amendment services to public and private agencies and companies. • Community Redevelopment Agency(CRA)consulting including preparation of findings of necessity, redevelopment planning and project implementation. Toll Brothers, Inc. Jupiter, Florida Project Manager 2005-2006 Responsible for the management and coordination of various design and regulatory activities related to the development of a large residential community in Jupiter, Florida, including all necessary on-site and off-site infrastructure and lots for construction of homes. Project included single-family homes townhomes, golf course and clubhouse. 6 Collins Development Company, Inc. Palm Beach Gardens, Florida Project Manager 1999-2004 Direct and oversee the design, permitting and construction for various projects as the owners' representative, serve as owners point of contact for company projects. Gainesville Community Redevelopment Agency(CRA) Gainesville, Florida CRA Manager 1996-1999 Responsible for all day-to-day operations of the CRA, prepare CRA plans, prepare projects and programs with advisory boards and CRA Board, implement projects and programs. The Urban Group, Inc. Fort Lauderdale, Florida Director of Housing and Community Development 1993-1996 Responsible for housing consulting services focused on non-profit developers of HUD Section 202 Housing and similar affordable housing projects. Lee County Community Development Dept and CRA Fort Myers, Florida Senior Planner 1989-1993 Supervision of inspections personnel for development services division; preparation of zoning staff reports and presentation to hearing examiner in zoning division; Senior Planner liaison to six redevelopment districts and advisory boards responsible for redevelopment planning and project implementation. Allen Engineering Cocoa Beach, Florida Permit Coordinator 1988-1989 Responsible for preparation,submittal and processing of engineering permit application to various agencies on company projects. City of Titusville Titusville, Florida Planner,Senior Planner, Development Coordinator 1984-1988 Responsible for preparation of staff reports, presentation to city boards and commissions, coordination with other city department for review of development applications. Professional and Technical Skills Feasibility analysis and due diligence; land development interpretation and amendment; project scheduling and budgeting; development team selection; project financing (grants and loans); contracting management; public approvals; and project management. Experience working with and for private and public sector clients and non-profit agencies gives unique perspective and broad understanding of land development and construction issues. Experienced with Microsoft Word, Excel, PowerPoint, Microsoft Project, Acrobat, Photoshop. 7 Stuart & Shelby Development, Inc: General Contractor 217 N.E. 4 Street aft Delray Beach, FL 33444 The Stuart & Shelby Team has over 100 years of combined experience in residential construction, affordable housing development, planning and community redevelopment. Our team is also well versed in understanding and navigating the nuances of working with government entities in achieving redevelopment projects. Chuck Halberg, President • Florida Licensed General Contractor since 1986 • In the construction industry since 1975 including South Florida since 1980 • Construction Management/ Executive since 1980 for three top 200 National Builders • Has overseen the construction of over 2500 residential single-family units, 2500 apartments, and 800,000 SF of commercial space since 1975 • Personal strengths in business relations, product development, budget management quality control, customer satisfaction • Delray Beach Business of the Year 2013-2014 • Delray Beach Businessperson of the Year 2010-2011 • Ken Ellingsworth Community Service Award 2008, 2011, 2013, • Community Service Commendation Delray Beach Police 2006 • Special Recognition Award City of Delray Beach 2006 Dave Dedman, Director of Construction • In the construction industry in Florida since 1986 • Managed construction departments for organizations with annual construction budgets in excess of$20,000,000 including two major Florida developers • Bachelor of Science in Construction Management • Personal strengths in budget management, value engineering, product development, quality control s The Board srlt's �� i Jose lr r recently retired from aurin Yoder has over 12 years Carl Garraffo is an accomplished government service after a of experic:nce in local senior executive, leder, and advisor distinguished career in the 'field of goernrrient, specifically grant with more than 38 ears of success in housing and community development administration and cornmunity the rel estate, law, accounting, and in which he served for close to forty and economic development. In hospitality industries.. Carl is the years. His twenty-year HUD carer May 2017 Ms, Yoder joined the President of H3 Hi; Consulting, -TC.. concluded at the end of 2017, serving Georgia Mountains Regional leveraging extensive experience as as the HUD lead for disaster relief Commission (GIM ;C) as a Project an HIS leader, Carl is a valuable asset efforts in Florida after Hurricane Irma Manager. The GMRC was for companies of various sizes and caused a high level of damage in the --statecreated in 1962 as a sub stages of growth that are seeking State. district and is comprised of 51 expert assistance navigating issues member governr-rents from the such as harassment, equal pay, and Prior to that, he served as the (Miami Northeast Georgia (Mountains. company culture. Prior to that, Carl Field Office Director, erred to that The CIM'PC works with these was the Chief Hurrr,art Resources post in (March of 2015, His other HUD entities to formulate goals and 0ff`icer with lennar Corporation for service encompassed two years as the strategies for area growth and over 20 years. Fennar is a Fortune Regional Public Housing Director, and development. 200, S&P 500 real estate company an additional fourteen gears during with 12,000 Associates and is the which time lie held positions as the Prior 'to moving to Northeast largest and most profitable Secretary's Representative (Regional Georgia in 2017, she was homebuilder inAmerica. Director) for New York arra New employed with the City of (Miami Jersey (appointed by Secretary Henry Gardens for 8 years.. As the Carl formerly served on Client Cisneros), Field 0,Lffice Director for the City's Community Development Advisory Boards for Prudential Florida State Office, Acting General Director from 2115..2017, Ms. Retirement, the National association Deputy ,assistant Secretary for the Yoder was responsible for for College and Employers, and the Office of Public and Indian Housing, administering, implementing and New York City Board of Education, "acting Director of Community monitoring Federal, Mate, and Cooperative Education Program. Carl Planning and Development of the local grant programs for the City. is a Governing Body Chair for Rvanta's (Miami Field Office, and Development Some of the programs she Florida CHRO leadership Summit and Coordinator for the Public and Indian oversaw ereE economic is a frequent guest speaker at various Office of Miami. Curing this period, d e v e l opm e n t, h o u s i ng round table events. He earned his he also served as the "Change rehabilitation,, homeownership Bachelor of Science in Business "agent" (appointed by Secretary assistance emergency Management from the New York Andrew Cuomo) responsible for the rehabilitation assistance, Institute of Technology and is an ICF reorganization of the HC Public infrastructure and public facility Trained Executive.. Housing Division. improvements, and public services. 9 �r t Danny Santivasci is a Portfolio Senior ExaminerMonique i ffi e .l rtd it the director "rata` with the Federal Reserve Ban f Atlanta. He and I ocal, Housing Policy for the Urban lrist.tute currently overseas the consumer cctrnpl ance risk She leads efforts to cata[yze. Urbarrs vast,: housing management supervision program for an policy expertise into actionable strategies for, and institution with more than 0 bilk n in assets, w'tn, state and [seal housing .eacfers. Her portfc lio Da r ely joined t Reserve an as c lls rr; r extends across Urban encompassing a ranee of compliance examiner ,n 2011, specralizrnq in CRA housing n policy area; from horn ��si°�r ess abed aitrtrdaH e housing toy zoning reTorrr , examinations for large, complex institutions.. horne}aw�v4ncr:shihr, and housing finance. King- a hwand Previously served as executive dira.c or of Prior to the Federal Reserve, Canny managed tura., I.A Cra ui tyr Development Authority where she various areas of consumer compliance as Vice oversaw 580 a mpiciyFees and a budget of $60 President of Community Development and CRA at rnilleion. She was the first wornan and Afncan a larva bank in Kam', Florida.. Canny also has Amencan to take the helm of the 40-year-ord several years of experience overseeing community agency, She ied thein agency through significant, development �roj cts at the municipal level, H is tr natP rrTr at r n, irtc a iinfl the tIc rcycr of the., a Certified Regulatory Compliance Manager Crrr err, rn.ty Developrah n, ret Commission and housing authority into one uniffetl agency rcr, (CRCI` ) and holds an Iy1BA in Finance from Nova augrnc..m cross-,agency 'thinking and client service, Southeastern University and a Master of science in increase organ izatir real effectiveness, arid Community Cuv iop pent and Political Science r°epc satior7 the agency as a ;fHrrwairy tt.nkir7c from Illinois Stater University, Danny's work in industry leader in the provision of, housing, community development began as a Peace Corps c(.)rnnnun.ty, and econonnic deveb.csfrrrient, She oluntcorinGuinea, West Africa. enhanced the I u`at;DAs, efforts to fht tIna hornelessnes,-s and affordability Crr'ses, .ndudin a 10 fo[d increase .n affordah„[e and supportive units funded, louse,., tslC"g pro'ect based rental vouc-her cctrnrtr.trrre,nts by etre rtx than 100 percent v hiies providing housing area housing assistance to ]ILL dreds, of, thousands arinuale ly. Irl; 2019, sl-e was recognized as an ILLLLA Power Wornan by I .snow. Kin Vief� eland Has 20 years of expenence in housing, corr v-runit' ,. and atcetrtomic° d veloprnent. She 'is a r"iernber of the I. IHSA Ad Ha. Cornrnittee on Black People Fxperiena_.nH Hp Advisory ornr,'r,...ssii�resss and a member of tlr�::�. Policy d'advsry? "n�orY13nit'"te�e�' forth0.r e al fo rni a Roadrnap HOME 2030 initiative. She graduated with hionors rrc"_`,rn Smith C lege and has a masters rr'I pubic policy from Carrie e Me,[[Orl. Vli 10 7t 10 Proposed i Upon our team's review of project information, we have determined that a total of thirty-six (36) single family dwelling units can be developed on the site (see proposed Site Plan below). Our goal was to identify units that could meet the BBCRA's objective of having single family dwellings while also seeking to gain the maximum amount of density on the site to make the project feasible. Three (3) models are initially being proposed ranging in size from approximately 1,200 s.f. to 1,500 s.f. and are a mix of 3, and 4 bedrooms. However, it is noted that several lots (1, 4,12, 15, and 28) are only 25' wide, thus requiring a model that can fit. We therefore suggest a 4th model (Seagull II) for these lots. This model is only 2 bedrooms, just under 1,200 s.f., but presents some concerns as to demand from first-time buyers. Our experience informs us that a minimum of 3 bedrooms is the norm. Nonetheless, we can explore alternatives if selected in an effort to develop a site that meets the BBCRA's goals. None of the units contain a garage but all units will have a 16' concrete pad suitable for parking two vehicles. Color renderings of the elevations of the proposed units, along with the floor plans are shown below. It should be noted, however, that additional models/elevations can be considered should the BBCRA and the City's Planning Department wish to provide a broader variety of elevations. 1 i -------------- - i I I 28' 27 26 25 24 23 22 21 �20 T 19T \ � I III Y III I � III i I + .I I , SII I Ipl i --- a II I I' II III II -� -- -- LL TheS®gill he Osprey The Ibis The Osprey The Ibis The Osprey Thelbis The OsBe y The Ibis The Osprey 36- LJ I L 29 J + " O � I e i - 35 o PARK „ Ir-- - --- 30 I g l --------- —31, ------ o4 Ily �I 3 R o U7 E 0. ai 32 a __--- -- [h, ® l Thelbis r_--- T 15 IIS 33 The osprey -- -- _---- __� The Ibis hes®g�ll�� he OSPsey �he Ibis ThIbis '�The OSPse➢The Osprey I � The lbs4 2 11 'I II 3 4 5 6 y I II II ° —F— 7 8 — — — ------------ _— — ----- --- - ----------------------------------------— -- — — - ----------- 11 The Ibis II Three Bedrooms, Two Baths --------------------------------------------------------------------------------------- 11 H yF s r 1i1! G t `r1 y1S .4IA.IDFgS —111111.10 OF 7F.T;.V,nDl l9 SfnJlC:4TED d1Y ItEP2F6EM£D At THIN DWAI—q.RFOc1F.U@Y.aN4 THE AID u£IS€C:ftFATFI)E OI-D ANDRE —ED F'11 i E--DJ\(—TKIN WIT,I THF'+P£!'tFl£D P4l'p➢F(T-11-1,-IMA s, Bt I'SF,G*111011.D111145—ANY VER—FI—IR I01U'PRT—FDR AITY ,RPUSE-——4 t-HOUT THE—TTFN PERfl5;IDN OFM.Al'RICL ME1i5CHF.AflCHITECF Stuart& Shelby Development,Inc. 217 N,E,4th Street,I3elray Beach,,FL 33444-Phone:(561)537-7902 -Fax:(561)637-7904-www,stuartandshelby,coin 12 The Ibis II Three Bedrooms, Two Baths AREA CALCULATIONS: A/C LIVING AREA: 1,199 SQ.FT. PORCH: 85 SQ.FT. TOTAL: 1,284 SQ.FT. MASTER BEDROOM 8'-4"CLG. 11'-8"X 12'-4" GREAT ROOM I I 8'-4"CLG. 16'-8"X 14'-0" TH W.I.C. 8'-4"CLG. 8'-4"CLG. 61.2"X 8'-0"I I L J BEDROOM 2 a 8'-4"CLG. 111-81,X 9'-0" KITCHEN 8'-4"CLG. O O 11'4"X 9'-8" 00 BAR _ J PANLRY �❑ o� OG a AT WH 8'-4"CLG PORCH 8'-4"CLG. 17-0"X 5'-0" BEDROOM 3 ----- ----- ----- 8'-4"CLG. 11'-8"X 9'-0" Stuart&Shelby Development,Inc. 217 N.E.4th Street,Delray Beach,FL 33444-Phone:(561)637-7902 -Fax:(561)637-7904-www.stuartandshelby.com 13 The Osprey II Four Bedrooms, Two Baths a 1 t � N IAS�;1 Trtt _ - � I r t ,�=��+�� u a, h a,�,1 r�,;1' _ .i� �''"�"" ��'+,^ x� x•.;� �. -=gym�ti �,,� ,,,� � ,�,�: >?t , �. �. a1R=@€ Dr iC3'v.'nRRA(kNFh�L.'ihll Pl AiSlhl)ICATP.Ti OR iF,P¢F.Sh.!'TF.�ftS'TN15 LNiAR3hlG..ltF.6tl"�F.F,65'.1.`(�SHh,V.G.e15TY 9}'I HIi.)FPI(]i�'Y�NkRPCAEhFP.�F�(11,VhOflNI3 DF}.�,OPhD FY�lY45E,, 1-1' M14'ITN,SHF-11FM RR9lE(T ift}Of SUCH II)FA5 I3t51SfV,ARILi\Y.Y,�1EP'TSUAII-1111--[SFAIlY9R 11IS11O5F[)T11A,JF 111111.11'IRM OR COSY eRA'iIfV4 FOR 49 F:WCILF.WHAT—FSR—i191.TTHF.WR[? NFFRMJY[Q:OFI,-L-CNIF\ASCTEE ARC HITF.CT. Stuart& Shelby Development,Inc. 217 N.E.4th Street,Delray Beach,Florida 33444 Phone;(561)637-7902 Fax:(561)637-7904 www.stual-tancishelhy.com 14 The Osprey II Four Bedrooms, Two Baths AREA CALCULATIONS: A/C LIVING AREA: 1,446 SQ.FT. PORCH: 58 SQ.FT. TOTAL: 1,504 SQ.FT. MASTER BEDROOM 8'-4"CLG. 11'-8"X 13'-8" GREAT W.LC. ROOM 8'-4"CLG. 16-8"X 20'-0" BEDROOM 2 8'-4"CLG. 11'-8"X 9'-0" BEDROOM 3 KITCHEN o0 8'-4 CLG. 8'-4"CLG. 11'-8"X 9'-0" 11'-8"X 10'-0" m O J �■ o0 g FOYER PORCH 8'-4"CLG. 11'-4"X 5'-0" BEDROOM 4 8'-4"CLG. 1 r-8°x 9'-01, Stuart &Shelby Development,Inc. 217 N.E.4th Street,Delray Beach,Florida 33444 - Phone:(561)637-7902 -Fax:(561)637-7904-www.stuartandshelby.com 15 The Royal II Three Bedrooms, Two Baths Y= NOWt f r / - 4 �hnS z r , t f a' ! nl.l.111-11 rSAUhv pkRq,NCF IH"fS A-1I,11 61 AT AND T1£I—PE--f TH[St kFfC},.ANT) kR I1.1 E4.CT.[.v£R1-111TTf 111 TH£tP£C tEAtD PROWT IONY,OFF"I(Tf MEAS OR RA.—HALL RF.U FA HF OR M(LOW TO ANry PEW,1 OF MAURE(f.lE i,[(HF AWHTTFU Stuart& Shelby Development,Inca 217 N,F,4th Street,Delray Beach,Florida 33444 Phone:(561)637-7902 l=ax:(561)637-7904 www.stua tandshelbyxonz 16 The Royal II Three Bedrooms, Two Baths AREA CALCL-LATIONS: A.C.LnTNG ARF?.: 1,356 SQ.FT. PORCH: 146 SQ.FT. TOTAL: 1,532 SQ.FT. r � ' I MASTER I BEDROOM COFFER CLG_ I 12'-4"X 14'-0" --� L— r I I IY I I M. GREAT ROOM �� COFFERCLG. 16'-0"X 2 F-4" I I I I l 7 1 I KITCHEN J S'-4"CLG 12'_S"X 12-4" --------------- -- - ❑ BATH R'-4"CLG_ BEDROOM A BEDROOM #2 #3 8'4"CLG. 10'-0"X 11'-0" s'4°CLG. PORCH 8'-4"CLG 19'_4'•X I1'-8" I Stuart&Shelby DevelOpnlent,Inc. 217 N.E.4th Sueet.DeiLav Beach.Flwida 3344= - Ph--l,61l 6'7-dQW -P—f 5611 617-74f -txrnnxr e[iartani�chPl'hv rnm 17 The Seagull II To Bedrooms, Two Baths AREA CALCULATIONS: 25,,"C LIVING ARE: : 1,119 SQ.FT. PORCH: 77 SQ.FT. TOT�Z,: 1.196 SQ.FT. I �7 MA.STER W.I.C.BEDRO011'�I — 8'_4"CLG 8'-4"CLG 16'-0"X 11"-4" 1 W..I.C. ~ 4"CLG- I I BEDROOM 2 I 8'-4"CLG_ 10'-0"X 11"-4" of In BAT ( 8'-4"CLG. REF PAIVIti CP.Y . K TC' E1\ q0 8'-4"CLG. (,I J 10,-01,X F_WO GREAT ROOM 'L --L 8'-4"CLG. 12`-S"X 18'-0" DIlNING ROOM 8'-4"CLG- 101-01,X 91-8„ POI C 8'-4��CLG. 13`_O"X;,_O" �II,IDF,AS DFSIGtv5.�AR4NGffi4t��TT54UD IIL4N5.4SDPC�IED DARFYdES£k'IRD9Y]FJSDRAR'@SG Acs ORT£b HYeL*ID SH5 FAOFQTY Qg"1Fil5.bF£ILE ASND RF85 CRE.0TED_EL'Oli4'AD_L*]D DF4'ELOPRD FOR US£OV ANB CSCdNASECTION'3.RiN_FfA SPFCFfIED PAOIFLi,kiOh�OF S[If�'.II�AS DE51�.�.AkfiEMv R5 OR PLANS SHALLHSG�D Bi'OR EISCLbSED i4.4k:Y FE.RSNv_I2RAS bRCbRFbR0.SIOri F6R MY PURA'KE R'fLAFO£S£R R]TOUS I'fIER'ftliTEri PER&IISSI4h'OF fifALiFIf£3f ET1F5GR£.ARGEQi£LT Stuaxt &- Shelby Development, Inc. 17 N F 4th Ctn-pf Delr:v R,—grh Flni-irb�'444 •Alinne,(S6 In?�t,37-74 •P,v,f Sh f 1 637,-7Qfl4-ivilriv gmmvincidipI In,rn[n 18 Relevant Projects Community Land Trust of PB County(2016-2020)— �'Y s i Kirk Road Homes � F General Contractor on the 8 , affordable homes. Site development and full p s�F F construction.Project cost � r�($2,100,000 i} U�jylPi�TN yFF L`'i�kir �'�ai �y{y4� � v }it ;FFs,itiF1i �c }} ��i ''="S �i`'f'�Yr Vrr,'r,nw#�":�+m:m+?arm'Y?rr?atM:rci4M�A�M'r?,,,Fm+M�un:n�+m�emuRp•k#,.r�xat wst:M+MvwtPr?��rm�rm:m:m un,m:?,us�•R�;.a�'rm�n rm'£�,rroN,M�:m+mv:?ra�fNronNwrrNut l�,�+,,,nl Delray Beach Community Land Trust General Contractor for the construction ',%'I of 10 new single-family homes including A O lot development. Project cost � �r' ($2,400,000 +/) F n cnr\w1$�yXz A---,i t,Y--iat�r>---,—--PiIB it,Y'+--,1Ft,Y---Fl7re—�lro;%C'r;... 19 ! Adopt A Family of the Palm Beaches (2019-2020 completed) General Contractor on the 14-unit "Al !��,{!li�it��t��i� affordable housing project with community center. Site development and firs - ��!At�ii�� `! s �,� full construction. Project cost i�t � ($3,500,000 y# 14 e Community Land Trust of PB County(2015 -2018 j General Contractor on the 16 affordable SFj , homes, and 8 Townhouse units. Site development and full construction. Project cost ($4,800,000+/-) � s ,.k r 20 j „ d Hallandale Beach CRA (2013-2014, Completed) In-Fill Housing Project,Phase 1. General Contractor for the construction 8 new single- family homes. Project cost $1,500,000. Commenced Phase 2, 2015 b fc 4 '^-'�=,�v nnnnn»%75rn nnnnnnn»»y/flnmm�nNn»»r�nnnnnnr�nr�m»AmnnnnnnrN�r�Arihfiflnn%r�Yk,�RMmfi�r�;?�t�ArbASY!�Yfn;n'�r�NAm�tMN7°afr�a§nY�S�S�A'kfi°su�+a;�°'�' Lake Worth CRA NSP2 (2011-2013 completed) � ��;2��' General Contractor for new construction and renovation for 46 units as part of this project. Worked closely to administer the HUD requirements for this '��,i1�Y}f�� project purchased all contracts and full oversight of all construction activities. Project COSI: $5,500,000.00 1 21 f f },F✓' tom„ ,P"'.4 � t y, t I' *�� j"Nft �11�t� Mrd Avenue Homes Pollywog Creek ° ° Sr, flousing 14-Unit Mullti-l-amily &Comm Center -$41-4-M, 29-Unit Multi-Family—t4pts. $18M ��h S Wil , Apartments 22 Financing and Other Project Details Based on our initial assessment of all the elements of this project, our team estimates a total development cost (TDC) of$10.5M. This amount includes hard and soft costs and is based on current estimates of labor and material costs, as well as related fee schedules for the governing entities. It should be noted that our TDC does not assume an allocation for the land acquisition. Although we acknowledge the most recent appraised value of the site, the estimate of development costs assumes the BBCRA's contribution of the land as its role in keeping the affordability of the units at the most reasonable level. To make the project feasible, the 36 units would have to sell at an average of $292,000 ($195-$243 per square foot). However, should the BBCRA desire to recover a portion of its investment in the land, price points could be adjusted to account for land value. These adjustments would, however, need to align with the published purchase price limits set by Palm Beach County (adjusted for homebuyer income levels). The financing of this project will require creativity and flexibility. As is now commonly known, construction material costs have skyrocketed over the past 20 months. And unlike market rate residential development, affordable/workforce housing development does not have the built-in margins to fully absorb these costs. Add to this, the applicable purchase price limits and underwriting challenges for income eligible buyers makes financing affordable projects (specifically homeownership projects) very challenging. Notwithstanding, our team will avail itself of a variety of funding mechanisms available for both pre-development costs as well as construction costs. As a non-profit, ETWDC is in an ideal position to be recipients of government funding (i.e. ARP, CDBG, SHIP, etc.) for which the project is eligible. Should our team be selected, we would move quickly to identify any and all funding options necessary to start and complete this project within a two (2) year time frame. 23 Potential r a This Team includes experienced practitioners who were former redevelopment agency executives. As such, our Team is well versed in the process required to screen applicants to determine income eligibility. Notwithstanding, we will likely look to collaborate with local agencies and organizations tasked with homebuyer education, credit repair and mortgage eligibility. It is our experience that local organizations routinely maintain lists of potential homebuyers that meet LMI or WFH income limits. The marketing and outreach for a project such as this one will be important to ensure an awareness of the product being developed and the opportunity for first-time homebuyers to build wealth through homeownership. Our team will develop marketing materials featuring the models, the design features, and prices. These materials will be disseminated through various mediums, including social media platforms to attract potential buyers. Facilitation of home sales for this income targeted population often includes coordination with lenders that offer programs with modified underwriting criteria. Moreover, to ensure mortgage ready buyers, subsidy layering will be required. Understanding multiple funding sources and having the ability to coordinate multiple moving parts is critical to the project success. This team has the experience and credentials to accomplish this successfully. Apprenticeship, Local Hiring In addition to all the credentials shared thus far, we conclude with a commitment to local hiring and the development of an apprenticeship program for local residents seeking employment opportunities. This type of initiative is something that this development team is very familiar with. Stuart & Shelby prides itself on meeting or exceeding local hiring mandates in all its contracts. And with ETWDC's strong background in local government, outlining, collaborating, and implementing a successful apprenticeship program is something that makes our organization stand apart from other development entities. 24 Licenses, Certificates, and other Documents State OJ`Florida Department of State I certify frorn the records ofthis colic c that F'AS'FTO "t: RP is a corptmitimi org-anizvd under (fie laws of,the State of, Florkha, filed on, NovenAvr 5, 2019. ell"ective Novenl9 r 5, 2,10 19, Fhe docurnVI'll nurnbco" of this corporaiion is N NOW)1 16W 1 lianher certify dumsaid ct-wrioration bats paid au all fees de this officed'irough Dccewnbcr 315 2020, OVAI its ITIOst rccvnt annwO bitsincss repori was filed on Cktober 9, 2020. and 0-611L its StIIIIUS is acil'A"C' 11 ILwOrier ccrtil, that trid corporimion has no filed Articles o'I'Disisoltlifion. Givwn andet my hand andMe Gre al Seal 4#the State qf I-larida at lallabaxwe—the Capital. this the Twelfth day t�t'(ktober, 2020 4' 95yy Serrelarly qSlatt- o Modwnd air lhi% mr,6,441"ing 41f,taowir M6 1w"Iber,And lhea FidUm bv ............................ 25 INTERNAL RFVFNtir SFRIVICIF DEPARTMENT OF THF TRIFASURif P 0 BOX 2508 CINCINNATI , ON &"'a! Fmploy,-r C)9 2 83 1236408 DLN� 17053263307028 PAST 10 WFS7 DFVFiOPMFNT Contact Person! CORPORATION SIRIJUN MAYI IM 31445'il 24979 CONSTITUTIN AVE ST' 711 Contaclt Tolophone Number- STEVENSION RANCH, CA ��1381 18771 829 ,5500 McmrotOg PoHoad nM ng: Docambell- 151 ;%blic Charity Status- 1POM (WAI (vil Fwm 990916EZ59UA MQuirw ywi, Lflen,,A toov Dalo rit Exprnpit ifon July 27, 2018 Crint r i i On Dooluul luillty Yes Addandue Applrw No Dom NM I "w"I'l We re ploniol 10 Lal v yu u av Uv t a f a s n ad you'r n a x ev 1'i1 it- e dc!ri=i t yI"cam U tax under lntnrnaT davoinut; bode 0AW Sw0wi 501"t 131 Down can deduct contributions thay ma ku ito ymt ondor 1 Section 170 Youin mosto crumminij to mcivv" !Am deductible nequasty davinow truniQrs wqifts nowder Switow I'M9, 244. or 022 Into ulor cnnold help rpAnlvp rokmwnni on Y1111 ameMpt StoloV,,, W,16n%n kerep .,l for ioriijv ro,4�"rd Or yaniial lu"s exempt Mar Utt," 5,ac"onn bW (Qjj; aw hwth"r classified as nitner nutilm criarities or privato foundat�nns We dotevmirez,d yuu'ru, �,�l pub, virsty untler imu IRC S=,,nri , AT luro top, o* thl's, luttor If OV at thif TOP rf !hit Ill'Or LIWL YUI&f B ' u4wrud to ?ilo bors 900199040990% our records shrom, you�ra, re,oiogrud to file an annoi,11 i"farent ion rnt"rn (Ims DIU ui ruis M-Uj w wocovrarmc noto qvaro qvir N, the a Postcaric) If you durYL vile n requi -ird return or not io;r,., to Llit rroi uonAecutivo yrorn, your nmempt statw& will Uri," h"',"illy '9"voAftd, If vwO i0jdorOtod of the Jup of thm letter 't its an Anjouitjum ofppi Iv5, ti-ow, onclosad addendus is an iwagral part of this letter, Fur omparlant, information about your resp1wm1bokfas an a tax.exempt orgrtrul:otioro, go to wwa, 11S,govIahaeitins, Cuter. "4221 PC' in trio acarch tvior LU Yjevy Puh' it;atiron 4271 -PC, Compliance Guide for 5011G)j3) Public Charities, whiCh devinrQuo your iucundkeeping, raporting, and aisshoswo woukumoviLu, Letter 9A7 26 i Ron DeSantis,Governor — Halsey Beshears,Secretary r _ = Florida CJ pj STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION CO STRUCTION INDU,;STRYwL1�ENSl G BOARD THE GENERAL CONT{�ArGT�012 N`ERE� IS CERT-F►ED UNDER THE PROVISIONSiOF GNA��T �2e489, FLO� ,IDA;STATUTES , g t h, HAvi,L,E�t,I�"" -Ofrl� `ON i STUART&',5l !'E,LYrDEI/EL'b3P,iMENT1ri�IG 'DEMAY BEA,,N;,' yFy t } 44 LICE�*1E N'l�M`OER CGC35$42 EXPIRATION DATE AUGUST 31,2022 Always verify licenses online at MyFloridaLicense.com t Do not alter this document in any form. This is your license.It is unlawful for anyone other than the licensee to use this document. m I 27 Centennial Management Corp. 7735 NW 146th Street Miami Lakes, Fl 33014 (305) 821-0330 Fax(305)821-0402 December 1 LETTER OF EVTENT TO PVR CAXL4SE REAL PROPER Property: Approximately 4.345 Acres located between AT dth Ave and NE. 51h Ave, between Seacrest Blvd and NE Ist Street in.Boynton Beach,FL 33435 To Whom It May Concern: This shall serveas a letter of intent to purchase the above referenced property. This is not intended or to be construed as creating a contract between.the Buyer and the Seller. Only a fully executed agreement for purchase and sale of the property shall serve to bind the parties. This letter of interest is being proposed for an Affordable Elderly Community that we feel would benefit the City of Boynton Beach. As you are aware,we recently completed Ocean Breeze East Apartment and we are about to start construction of Wells Landing providing a combined 247 units of affordable housing along with new retail space in the immediate neighborhood. 1) Buyer: Centennial Management Corp or assignee 2) Seller: Boynton Beach CRA 3) Price: $1,893,000.00 4) Deposits: $50,000.00 within five(5)business days;of execution of purchase Contract ) DueDiligence: 3 0 Day Inspection Period and receipt of good and marketable title. 6) Financing:, Closing is subject to award of SAIL or 9%Housing Credit funding from Florida Housing Finance Corporation through one of its 2022 Requests for.Application. The Contract shall be binding through May 30,2023 unless Buyer elects to close earlier or cancel the Contract earlier per due diligence or financing contingency clauses, t ) Con t; Within thirty(3 0)business days of the Effective Date of this Letter of Intent,Buyer and Seller shall enter into a binding Contract for Purchase And Sale(tire"Contract"). Faure to reach an agreement will allow the Seller ta,00rtsrder this agreement void and accept Vers from other, eeseal t fav, ) Clos mos shy occur wi Fid n� ")days fr m t ��r,', DO �t ude �tz from Florida Houtirig lnnance+"orpCiratlC} 14 lroers apt to tcouteplakr pxcase� ihr' ryer t cl U§ s�- , s..•. ,.,... t..:.A £ r ii.t.yt, 1 ,ii it r 1 Cs�. _ `1 �t1 `;. s r. y ..a> > t��,�l 'S) � __ - £, ,t,`.� £ �£t if}, t,�(it s� �1..,1 Uyl��4>�£7�S�f 'st�£��, Z� �: _... � ,��, - £ :`�--, � � ' _. �( --, `.•_ - __ _ - £ -;•£ s t � r t Is � � � � � ��, �� .�£ ,i��- � ,.A t £, � to � — �,:, - �, i £ � i�fk£ii Jit� � �} ,�i£ £ £ '•-��r 44 - -_ _ _ - t - £�i7i£�s ��rb _ ) , s t fi 1�i�11f �� Yh �( ,. t{�i l �l,�i�{£i, 11)Liens: Seller shall deliver evidence of no encumbrances/liens and at least ten (14)days prior to closing. If this Letter of Intent is acceptable,the Contract shall be prepared by the Buyer's attorney, This offer will stay in effect until 5pm1. G Sincerely, y Buyer-, etite 'al' a e e and/or assigns Agreed and accepted this day of December ,20 '1 Seller: Boynton,Beach CRA By: Al"l A111 r If t r}lit}l; + t f li�vfF+v t } of rt Itv}�i1rl�r. t r r - } `- G t i 1 t., is t r I.t, II t 1 t �4. ( rt ,i i(t.,,.� i ;.t„• .r r ,,t# �,1�,t r V f At,t:,,�1 } (l�` ..,, - 1 - t - t t t1 t � 4 tll h ht t tt _ i t r � r .rs ,1i i r t}� �a t 4 F > � ti It t tt t h h t � tF s tiS i � I ... i rS � .-_ C.. SF _- u 3 __ �= n-._ {f., - •1..`r .. - � i, -. � �`_� ;. � �-.__. _-, }�51 -.`= S. _.r_ - --_ -- .__ =5. � � h �� pY577f � r i Vance Real Estate Service August 10,2020 Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue Boynton Beach, FL 33435 RE: 4.346 acres of land,between N-E 4th Avenue&NE 5ffi Avenue,between Seacrest Blvd& NE 1St Street, 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 August 10, 2020. The report sets forth our value conclusion, along with data and reasoning supporting our value 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 2020-2021). This report is for exclusive use of the client for possible disposition of the appraised property. 4 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 market value of the appraised property, subject to definitions, certifications,and limiting conditions set forth in the attached report. ONE MILLION EIGHT HUNDRED NINETY-THREE THOUSAND DOLLARS 893 000 (THIS LETTER MUST REMAINATTACHED TO THE REPORT WITHEIGHT-MNE(89)NUMBERED PAGES FOR THE VAL UE OPINION SET FORTH TO BE CONSIDERED VALID.) Respectfully submitted, Jesse B. Vance, Jr., MAI, SRA,ASA State-Certified General Real Estate Appraiser RZ-85 &�aalallollzt5_1_ Claudia Vance, MAI State-Certified General Real Estate Appraiser RZ-173 MBA in REAL ESTATE DEVELOPMENT&MANAGEMENT - 7481 Northwest 4"'Street, Plantation,FL 33317-2204 954/583-2116 - F r „ u � t tt AERIAL VIEW OF THE APPRAISED PROPERTY,LOOKING NORTH 4 f d" i a t, �=Mv } r xm „ n r �H- AERIAL VIEW OF THE APPRAISED PROPERTY,LOOKING WEST 7 Eoos� oss x, ooEo s oss � e �� U U oPu1a�.L HFI-.'"✓ki�r`a.Lki�S�?3 'F�li„Aa'i 3'i' da W _ �w VHO m 0 0 3 }F LL O 1 Q 3 F p O D Z ❑ ❑ m U m o U S 133?11S'isl '3'N -- ------ — i ._. rl o CL I o IN IL lo Ell oR all Ua � e — � o z m m o o � o ,— � ALL_❑Q o I zn z — J an191S3 OV3S i —� a o en w o ee o e e e a s a w o v m Q �ataYaoiovaimoo o ooEo s INA m O �� U U o"u`.I.O�.L�FI-.'"✓ki�r`a.L�i�l�?3�'F'3i;;Ya'i 3'i'�� a W�(n N_ O w�U !�� O Q= }VHDM - -- F LL O i O LL 0 o m 0F Z m O U Q ' i�,'i 111111111 111 II iYuuu- a m t ! LL � a � ,mom 4f -- g � � s ut V Fon , O i R< far ru. t v s f 1I f Q U a i � O w O U m t Ha taMoiovaiNoo Eoos� oss x, ooEo s oss � e �� U U oPu1a�.L HFI-.'"✓ki�r`a.Lki�S�?3 'F�li„Aa'i 3'i' da W _ �w VHO m 0 0 3 }F LL O 1 Q 3 F p O D Z ❑ ❑ m U m o U S ----- ---------- --- --- A]dIS'is t '3N CLQ Z 0 I p O J= T q: 0 0 gs gm Tim m r N m o o LJ Ell 0 o z \ — �g �N ss � z z Q e dos� o a== a � ¢ s � oK w 0 =v o0r� 'an191S] OVIS a m ----- z L — — — — — — — — — — ------- -— — o n w w o v m Q �a a oio imoo Eoosf oss x, ooEo s oss � e �� U U oPu1a�.L iHF'I-.'"✓ki�r`a.Lki�S�?3 'F'kli„Aa'i 3'i' d a W - O �� zo0 O Q= - - � o r F LL O 1 O r a 0 z U ❑ ❑ lo( - 0 m U U Q 1 Z s t >r r � f � 4 iS fi- U x,. f 5.11 YU rw i I 2 ,31 4 r U w � w � x N o CW„� 4A 4. OU 41 NDN J pp N w ( Uw f U O� ,w 0 x� wz c� w p p z c�¢ K O U w U U m Q He�araoi�vaiNo� �1031 I HOMV�IM39U�3HO-VIV�g <I— w ----------- VHO z o 0 w z:z o 0 1 lu Z I I( — o 0 o U < ti JIN 'y of 11 He raraoiovaimoo PULTEGROUR Cottage District Infill- Letter of Intent April 28, 2022 To: Thuy Shutt Executive Director Boynton Beach CRA Subject: Letter of Intent to Purchase Cottage District Infill Redevelopment Project Thuy, This letter is to serve as a Letter of Intent (LOI) for Pulte Home Company, LLC (Pulte) to enter contract negotiations to acquire±4.5 acres in Palm Beach County, Florida owned by the Boynton Beach Community Redevelopment District(BBCRA). Pulte Home Company, LLC has the capital to complete this transaction, and we will not include any 3rd parry lending approvals or state/local grants as part of our offer to purchase. We are flexible, and we are happy to negotiate deal terms. Our team does not use standardized contract templates, and we can make quick updates in an effort to reach a mutually beneficial agreement. This LOI follows our previous submittal during the BBCRA's request for proposals in which Pulte's submittal finished in second-place consideration. With the understanding that the first- place proposal has not materialized, Pulte submits its updated proposal. We look forward to hearing from you and want to assure you we are prepared to act quickly in working to arrive at a mutually acceptable contract. This offer is valid for one month. PulteGroup's mission to be America's most respected home builder begins with our site acquisition. On behalf of the PulteGroup Southeast Florida Division, we would be grateful for the opportunity to begin this process with you. Thank you, Vice President of Land Acquisition Southeast Florida Division 1475 Centrepark Blvd.,Suite 305 West Palm Beach,Florida 33401 Andrew.Maxey@PulteGroup.com 1475 Centrepark Blvd.,Suite 305 West Palm Beach,FL 33401 PULTEGROUR Cottage District Infill- Letter of Intent 1) Property Description. The property under consideration consists of±4.5 acres located in the City of Boynton Beach, Florida and roughly depicted below. f_ + t G r i esu d y 2) Valuation. The total valuation shall be the summation of the purchase price plus a BBCRA Success Fee. The total value is estimated at$688,000. a) A purchase price of $400,000, equal to $10,000 for each of the 40 homes proposed in Pulte's intended use. b) A BBCRA Success Fee equal to 3% of the sales price of the completed homes and to be paid on a quarterly basis following home closings. Assuming an average sales price of $240,000, the Fee shall equal $288,000 (= 3%x $240,000 x 40 homes). c) Purchase price and Success Fee shall be paid in cash. Pulte does not require any loans or incentives to close. 3) Intended Use. Pulte's intended use for the property is a fee-simple community designed in accordance with Palm Beach County's Workforce Housing Program of at least 40 units. (See Exhibits A and B.) Units will be sold according to Palm Beach County Workforce Housing Program guidelines, which includes recording a covenant for a 15-year sales price dee restriction. 1475 Centrepark Blvd.,Suite 305 West Palm Beach,FL 33401 PULTEGROUR Cottage District Infill -Letter of Intent 4) Deposits/Fees. First Escrow Deposit: The first deposit of$10,000 is due within five business days after the parties execute a mutually acceptable contract and is fully refundable to Pulte until the completion of the inspection period. Second Escrow Deposit: Upon the end of the inspection period, Pulte will deliver, within five business days,an additional deposit of$60,000 to escrow agent bringing the total deposit to $70,000. The first and second deposits are to be creditable against the total purchase price at closing and will be non-refundable after the expiration of the inspection period. 5) Inspection Period. Pulte will require 120 days from the signing of the contract in which to investigate the property at Pulte's expense. 6) Entitlement Period. Following the expiration of the inspection period, Pulte shall have a period of 10 months to obtain the necessary entitlements to develop the property according to the intended use. 7) Closing Schedule. Pulte shall close on the property on the earlier to occur of 30 days after all closing conditions are fulfilled or 30 days after the expiration of the entitlement period. 8) Conditions to Close. a) Rezoning and land use approval in accordance with the intended use b) Final site plan approval for intended use c) Sitework/earthwork permits required for clearing and excavation d) Water/sewer permits e) SFWMD environmental resource permit(if applicable) f) US Army Corp of Engineers permit(if applicable) 9) Title Evidence. BBCRA will pay for title insurance in the amount of the purchase price and provide a title commitment during the first twenty days of the inspection period. Permitted title exceptions will be determined by the end of the inspection period. 10)Survey. If available, BBCRA will provide survey within the first five days of the inspection period. Pulte will be responsible for updating the survey. 11)Closing Costs and Proration. Each party will pay its cost of document preparation and attorney's fees. BBCRA is to pay for documentary stamps in connection with the conveyance of the property. All real estate and personal property taxes, leases, and other related costs shall be prorated as of the date of the closing. 12)Broker. Pulte and BBCRA agree that they are not represented by any broker in this transaction. 13)Confidentiality. Pulte and BBCRA agree to maintain the terms of this LOI and all negotiations relating to the property as confidential between Pulte and BBCRA and shall not disclose their existence of this LOI to any other person. 1475 Centrepark Blvd.,Suite 305 West Palm Beach,FL 33401 PULTEGROUR Cottage District Infill- Letter of Intent This letter is not intended to create legally binding commitments. Parties shall become legally bound only if and when they execute a mutually acceptable contract. If the foregoing is acceptable, please indicate your approval by signing this letter in the space provided below and return one signed copy to Pulte at the address shown on this letterhead. Upon receipt of the acceptance, Pulte will commence preparation of a mutually acceptable written contract. Agreed and Accepted: By: Date: 1475 Centrepark Blvd.,Suite 305 West Palm Beach,FL 33401 PULTEGROUR Cottage District Infill -Letter of Intent Exhibit A: Palm Beach County Workforce Housing Program, 2021 WHP Unit Sales Prices: WP Income Category(Based on AMI) Sales Price I C Low 60%-80% $48,120-$64,160 $168,420 Mod1 >80%-100% >$64,160-$80,200 $216,540 Mod >100%-120%0 >$80,200-$96,240 $264,660 Middle* >120%-140% >$96,240-$112,280 $312,780 Exhibit B: Pulte's intended use as reflected in original RFP submittal. Plan may be updated to include more units built on newl added parceIs. Brookwood 2 Single Family Detached (1-Story) Cedar 4 Highgate 3 Single Family Attached 20' Interior Townhomes 19 (2-Story Townhome) 20' Exterior Townhomes 12 Total Units Proposed 40 � rut t r i v s`'1 i Ott 1475 Centrepark Blvd.,Suite 305 West Palm Beach,FL 33401 Proposed Project Plan ;; i Project Description Pulte recognizes that redevelopment of the Cottage District, within the Heart of Boynton District, is a priority for the Boynton Beach CRA and we are very excited to share our proposal with the CRA. Our proposal is uniquely designed to complement and add value to the existing neighborhood and its residents as well as further the goals and principles contained within the 2016 Boynton Beach CRA Redevelopment Plan ("BBCRA Plan"). Among the goals that the Pulte proposal furthers from the plan are; ■ Protect and enhance existing single-family neighborhoods ■ Create a comfortable, walkable and safe pedestrian-scale environment connecting residents and visitors to the commercial, social/cultural and recreational amenities within each District ■ Develop policies and strategies for providing adequate public parking within each District to support commercial and residential redevelopment ■ Encourage and assist existing development and redevelopment projects that provide employment and economic opportunities ■ Encourage the implementation of streetscape enhancements within the Districts ■ Encourage the development of new affordable housing (with no subsidies from the CRA or any other public funding/tax source) Pulte's plan consists of 9 single family detached and 31 single family attached (townhome) units for a total of 40 new single family units within the Heart of Boynton. Drawing from the architectural styles of the surrounding neighborhood and the BBCRA, we are proposing two styles - Florida Mediterranean and Florida Coastal, Both styles complementthe existing homes,reflectthe historic character of the proposed Shepard FunkAddition Historic Cottage District along NE 3rd Avenue and Boynton's coastal history. Our plan provides new homeownership opportunities and has been carefully designed to enhance and protect the surrounding neighborhood. We've included a small neighborhood park along NE 1st Street with landscape, hardscape, shade structure and lighting features,as well as a dual use passive recreation/dry detention area,a network of sidewalks and pathways around and throughout the site which connect to the existing neighborhood and provide access for the community at- large. While the small park will be deeded to the City of Boynton Beach to ensure perpetual community access, the Pulte HOA may retain responsibility for park maintenance. We've also included additional parking, both on- street parking on NE 1st Street (six spaces in the right-of-way), as well as off-street - six at the townhomes and nine at the new park.The on-street parking, along with new decorative streetlights and the perimeter sidewalks provide traffic calming and a pedestrian environment to the site. The BBCRA Plan identifies the vision for the Heart of Boynton District as"becoming a model neighborhood, with its unique character and history preserved, The vision includes enriching the original vernacular architecture of the neighborhood, investing in housing and commercial uses, and connecting both through the pedestrian and vehicular networks,"The vision further addressed via three recommendations; Streetscape, Land Use, and Urban Design. Pulte's plan responds to and enhances the each of the BBCRA recommendations for the Heart of Boynton District as explained below. Boynton Beach CRA Cottage District Infill Housing Redevelopment Project 37 Proposed Project Plan ;; '., �y z S. Streetscape The BBCRA Plan outlines a variety of streetscape enhancements for Seacrest Boulevard including "bus shelters and the creation of a Pedestrian Zone adjacent to rights-of-way that inviting, safe and includes a minimum 8' wide clear sidewalk, decorative light poles are both vehicular and pedestrian scales, and installation of canopy trees that provide immediate sharing at time of construction". Pulte's plan includes a 5'sidewalk, retaining the existing decorative streetlights and installing larger canopy trees along the portion of the site adjacent to Seacrest Boulevard,We are also continuing the pedestrian enhancements through an interconnecting network of sidewalks and pathways throughout the site. Decorative streetlights will be provided along the perimeter and interior of the site. Off-street parking is provided long NE 1st Street, which provides for traffic calming as recommended by the BBCRA and the community. Additional off-street parking is provided adjacent to the pocket park and within the site itself. Lastly, we have incorporated a bus shelter for school children in the pocket park along NE 1st Street. We will work with the CRA and the Palm Beach County School District to ensure the bus shelter meets their standards and is utilized as a neighborhood school bus stop. Land Use The existing future land designation for the site is Medium Density Residential and the BBCRA Plan notes that High Density Residential would also be appropriate. Pulte's plan maintains the existing Medium Density Residential as a means of protecting the surrounding neighborhood.We have done so because while we understand the surrounding community desires new housing opportunities, they want the new opportunities to be consistent with and integrated into the existing fabric. We have opted to propose fee simple single-family opportunities instead of rental opportunities.The current zoning designation is R-2, One and Two-Family, which allows for the proposed density, however we will rezone to PUD. Urban Design The BBCRA Plan identifies three architectural styles in the Heart of Boynton District. The three architectural styles are Mission, Frame Vernacular and Mediterranean.The BBCRA Plan recommends "that when building in this District, new development shall utilize one of these styles". The BBCRA Plan also notes that the Cottage District should be developed with single-family for- sale homes in the style of the surrounding historic cottages. The surrounding cottages are primarily frame vernacular. Pulte's plan proposes two architectural styles in keeping with the recommendations of the BBCRA Plan, We are proposing the Florida Mediterranean which is consistent with the BBCRA Plan's Mediterranean Revival Boynton Beach CRA Cottage District Infill Housing Redevelopment Project 38 Proposed Project Plan ;; style and includes one and two-story structures, stucco finishes, gable and hip roofs with shingle tiles, window and door surrounds, decorative horizontal banding and graceful arches. Select plans also include columns and corbels.We are also proposing a Frame Vernacular style - Florida Coastal -which draws from Boynton Beach's coastal identity and is consistent with the styles identified by the BBCRA. This style features stucco finishes, board and batten detailing, gable and hip roofs with shingles, rafters and decorative banding. In order to provide further consistency within Pulte's plan, the single-family units will be offered in both architectural styles while the townhomes will be in the Florida Mediterranean. The architectural styles are also in keeping with the design guidelines contained in the City's Land Development Regulations,Further,the RFP provides a varietyof sample elevations including Mediterranean,Coastal,Craftsman and Caribbean. Both of our architectural styles, Florida Mediterranean and Florida Coastal, are consistent with the sample elevations contained in the RFP, The 2009 The Downtown Vision and Master Plan ("2009 DMP") notes that while the area does not have a "signature look or style,the creation of a City's identity... establishing urban design guidelines that will promote the vernacular architecture". The 2009 DMP points to architectural structures that can be used as a "basis for future design guidelines" such as the Women's Club and Old School House. The 2009 DMP further notes that the neighborhoods are predominantly a continuous network of streets in a grid pattern. The 2009 DMP also notes that land uses and densities should "ensure a logical and clear transition linking the downtown core to surrounding areas". Pulte's plan has taken each of the above recommendations into consideration.Specifically,our architectural style mirrors the Mediterranean Revival of the Women's Club and the Old School House. We retain and complement the existing grid pattern of the neighborhood and our proposed density of 9.2 units per acre serves as a clear transition between the 2009 DMP and BBCRA Plan recommendations for higher densities in the urban core and the surrounding area as well as a transition to the higher densities proposed for the MILK District. The RFP provides Urban Neighborhood Site Plan Concepts including site planning elements for lots, special condition lots and garage design and sitting. Pulte's plan meets the site planning concepts including an urban streetscape with consistent and minimum setbacks and shade trees and other landscaping to define the front yards and street edges and provide for traffic calming. Along the perimeter of the site, each home is sited towards and relates to the street. This pattern continues with the three interior townhome buildings which relate to the interior access drive. The sidewalks and driveways are of the same consistent material, AC units are screened, and garages are set back from the front of the homes on two of the three single family detached plans. Care has been taken to ensure the homes surrounding the pocket park respond to both the park and the street.With respect to garage siting,the driveways are limited to 9' in width, whenever possible, and the garage is secondary due to being recessed, whenever possible. Description of Housing Units and Housing Types Proposed In an effort to better serve the needs of the surrounding community and residents, Pulte is proposing a mix of housing types including both single family detached and single family attached (townhome); a total of 9 single family and 31 townhome units are proposed across a total of five plans.Specifically, we are proposing three single family detached plans; the Brookwood,the Cedar, and the Highgate as well as two single family attached plans; the Navarre and the Grayton. The single family detached homes are one-story, 3 or 4 bedrooms, 2 baths, and 2 car garages. The single family attached (townhomes) are two story buildings (4, 5, and 7 unit configurations), 3 bedrooms, 2.5 baths, and 1 or 2 car Boynton Beach CRA Cottage District Infill Housing Redevelopment Project 39 Proposed Project Plan ;; garages. The mean roof height of the single family detached homes is 13'9". The mean roof height of the single family attached homes (townhome) is 263" and second floor wall planes are recessed. Additionally, the front facades are articulated to ensure the massing is consistent with the existing homes. The living area of the single family homes range from 1,447 to 1,850 square feet; while the living area of the townhomes are 1,636 square feet. Pulte's floorplans are consumer driven and the result of extensive consumer research and feedback to create the best in livability. Our plans have flexible, updated floorplans to make the buyers life easier and more enjoyable. The chart below details the total square footage, living area square footage (under air), number of bedrooms, number of bathrooms and garage for each plan as well as the proposed number of each plan. SIMMONS! IMMUNEa Single Brookwood 2,028 1,447 3 2 ITT 2 car 2 Family Cedar 2,267 1,662 3 2 ITT 2 car 4 Detached (1-Story) Highgate 2,399 1,850 4 2 ITT 2 car 3 Single Navarre 18' 11874 1,636 3 2.5 25'T 1 car 19 Family (interior units) Attached (2-Story Grayton 20' 2,084 1,637 3 2.5 25'T 2 car 12 Townhome) (end units) Total Units Proposed 40 Density 9.2 du/ac All plans include our signature Build Quality Experience which includes communication with the buyer every step of the way. Pulte Construction Standards meet or exceed those of the industry.We include many energy-efficient and smart home features that help reduce the home's energy consumption such as radiant barrier roof decking to reduce heat absorption and improve HVAC efficiency, high-efficiency HVAC systems,programmable thermostats, energy-star qualified appliances, low-emissivity windows and compact fluorescent and LED lighting, Pulte homes are built with sustainability in mind. We partner with industry leaders who strive for the same excellence as we do including Lenox, Moen, Mohawk, Shaw,Sherwin-Williams and Whirlpool. Please refer to page 41 for additional building specifications. Boynton Beach CRA Cottage District Infill Housing Redevelopment Project 40 With respect to the minimum energy efficiency guidelines contained inAttachment F"Energy Efficiency Guidelines Checklist"of the Cottage District RFP, Pulte certifies that vxemeet and exceed all elements. Pulte Homes Building Specifications Architectural and Design Features Interior • Monolithic slab and CMU (concrete b|nok) exterior m Knockdown drywall finish on ceilings and vva||n walls with bond beams m White flat paint on all ceilings and vva||n, white nemi • Prefabricated engineered wood truss system for gloss on all doors and trims floors and walls m R-30 ceiling innu|atinn, R4.1foil nnexterior masonry • Stucco textured finish exterior vva||n and overhangs vva||n • Tamkn Heritage architectural shingles (or m Colonist, molded, hollow core 2 panel interior doors equivalent) m Whirlpool Energy star rated kitchen appliances • C|npayRaised Panel Garage Doors (or equivalent) including refrigerator, dishwasher, microwave, range, • PGT Impact windows second floor washer, and dryer • Hurricane shutters for first floor vvindnvvn m Decorative 2 1/4' casing on all nvvinQ doors and 3 1/4" • Decorative stucco banding per plan baseboards inall rooms • Decorator selected exterior paint schemes including m Lever door hardware on all interior doors wall, accent,trim,front door and garage door m ITS 17''tile flooring inkitchen, dining, and bathrooms differentiation (or equivalent) • Decorative pavers for driveways and walk to home m Moen chrome bath fixtures • Exterior gutters per plan m Shaw carpet in bedrooms and gathering room • Exterior hose connection inrear m Wood window sills • Exterior BF| receptacles (one in near, one in front) m Generous bedroom and linen closets and kitchen • Coach lights nngarages pantry closets per plan • Lenox 15 SEER air conditioning system with m Ventilated "free glide"vinyl coated metal o|nnet programmable digital thermostat shelving • Fully irrigated lot with oversized trees, shrubs and m Minimum 50-gallon electric water heater sod per plan m Minimum 150 amp electric service m [)eonrarocker light switches throughout home with standard receptacles Proposed Project Plan ;; Public Benefits As outlined above, the Pulte plan provides many public benefits to the community at-large and the Boynton Beach CRA. Each benefit is summarized below. ■ Affordable Housing. One of the tantamount benefits is the provision of 40 new affordable homes, consistent with the Palm Beach County Workforce Housing program, with no CRA assistance or reliance on any other public/tax funding source. Units will be sold to households at 80 to 140% area median income (AMI), with the majority sold to households at the 80 to 120%AMI. ■ Preservation and Enhancement of Existing Single Family Community.The Pulte plan is designed to be integrated within the existing community and proposes two architectural styles which are complementary to the surrounding neighborhood and consistent with the Heart of Boynton recommendations contained in the BBCRA Plan, ■ Walkable Pedestrian Scale Environment.The Pulte plan provides pedestrian enhancements through an interconnecting network of sidewalks and pathways throughout the site. ■ Enhancement of Streetscape.The Pulte plan provides on-street parking, decorative streetlights, larger than code street trees and a perimeter sidewalk all of which are designed to enhance the streetscape and provide traffic calming. ■ Public Park.The Pulte plan provides a neighborhood park along NE 1st Street that features landscaping, hardscaping, a shade structure, lighting feature and connects to the dual use passive recreation/dry retention area,thereby expanding the recreational opportunities.This park will be deeded to the City of Boynton Beach but may be maintained by the Pulte HOA. ■ Bus Shelter.The Pulte plan provides for a bus shelter along NE 1st Street. Pulte will work with the CRA and the Palm Beach County School District to ensure the shelter is utilized. ■ Efficient and Sustainable Homes. Pulte's construction practices maximize efficiency and sustainability which helps with ongoing affordability. ■ Increase City of Boynton Beach Tax Base. Increase the City's tax base by$8,400,440 based projected sales prices. ■ No CRA Funding. Pulte's plan does not require any CRA funding freeing up $385,825 allocated for the Cottage District for other CRA projects and priorities. ■ Community Engagement. Utilize our existing local vendor base including vendors located within the CRA boundaries and identify and recruit new vendors to ensure that that local businesses and residents benefit from this development initiative Boynton Beach CRA Cottage District Infill Housing Redevelopment Project 42 0 } U N E as z g �o N g 0 of O. z O. 0 N� Om of Q D1 d O w-rxn 0OI O O x OL-----------} — ___ o d O O �C� d 0 O ^o U z x a 5 OII W� I I �^ I y Q O W m L------(D--------J ?----- C O jz Q_ OOO d �x Oo LwLro Q x Q x u O N ob r, IJON F--- I�� L O J — UU L_ O Q z O Q o W < a W" ® > c W N C3 -- U OPT.ODK' LL # tl< t'ti 1!i tiSl7FG1 r 'ii)£ £{,� r4 IN 4�y' dE t4 OSS' }}� �} 11 �� lflii ; 'rszu y ll(4t{i SIj Yt f 7£ CV q0l;' } sii�S £s0, it N I ail 314 4 £ ' £y£; r�,l, 0- U U E d r - o ' OPI.``6`-'kA y � II I a � M o 04 O o Z 0� QO = Oo O� Ox c Ow� — li U — wm c H (� u w rn W II > I N I I II II O U _ w U I m - z w = T N ofW_* H1V9 S INMMO w zU 3^ 3 c O c+. 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Ocean Avenue Boynton Beach, FL3343S Re: Cottage District Dear Chairman PenserOarand Ms. Shutt This letter of intent outlines the general terms and conditions which Neighborhood Renaissance, Inc. (NRI) a Florida not for profit corporation would be interested in entering into a Purchase and Development Agreement upon the terms and conditions generally described below. Project Description: As currently proposed, the Cottage District development represents an $11,600,000 investment in the neighborhood which includes home construction, on and offsite infrastructure and soft costs and is uniquely designed to complement and add value tuthe neighborhood and its residents, The addition of quality built affordable fee simple homes will provide ownership opportunity and add variety to the living choices ofworking families and individuals within the Heart mfBoynton. The mix of3Sdetached cottage style homes will include four different models with one and two stories, 3- bedrooms, 2 baths and a garage. The living area of the cottages range from 1'435 to 1'595 square feet with an average sale price of$22O,OOO. The neighborhood plan is laid out with one internal street, walking paths and avillage green with atot lot for use by the residents. Mindful of urban design principles all the homes have generous porches facing the street to encourage interaction with neighbors, very much like the u/i8iva1 beach towns of old Florida. The homes and landscaping will incorporate Florida Green Building Coalition standards which address sustainability and efficiency including energy and water use and Florida friendly landscaping. The homes will be sold to first-time buyers earning between 60%to 140%of the Area Median Income ($48,120 $96,240 annually), NR|'s mission and goals include making home ownership attainable to |ovv' and moderate- income households. NRI will asxu/ethat the hnnmax remain occupied by homeowners through deed restrictions for minimum oy25years and the HOA Declarations and Restrictions. Included in our plan is public neighborhood park on .2 acres (approximately 90feet byQOfeet) offering landscaped open-space filled with trees' walking paths and benches. If possible, a bus shelter will be installed at the corner ofNE4`'Avenue and Sercrost The perimeter of the property where it interfaces with the neighborhood will provide an attractive visual and pedestrian environment with street trees, 6-foot-wide sidewalks and street lighting along NE 4* and NE S" Avenues and NE1"Street. 510 Z4thStreet, Suite A -West Palm Beach, FL 33407 ^ 581-832 6776 ' Fax: 561-832-0483 vvvvw.neiQhburhomdremaisoance.nrQ Page 2of2 T}e]prope[ty� 4.65 acres ufland between NE 4th Avenue & NE5th Avenue,east ofSeac/est Blvd. & NE 1st Street, Boynton Beach, Florida 334]S Purchase Price: $2OO'OOObased upon currently identified and available financing sources. ProiecLCom Two years from execution ofaDevelopment& Purchase Agreement. |��1H�ip�� NRI will give priority to local contractors, sub-contractors and laborers whose principal place of business is in the City ofBoynton Beach. We are committed to providing preference for new employment, training, and contracting opportunities to |uvv- and very |um/'incnmo residents of the community and the businesses that substantially employ them.As a developer of affordable homes we have extensive HUD Section 3 experience. Qualifications:General Statement of Since 1992, NRI expanded its programs, services, and real estate portfolio, while broadening its geographic reach throughout Palm Beach County tmserve communities inneed ufaffordable homes. The organization's net worth is $15,200,000 leveraging investments of over$46 million in the last eight years. VVcbuilt over 25Ohomes and helped 200 low to moderate-income individuals and families to become first-time homeowners. Development, planning, construction and financing activities are managed by Terri Murray Executive Director, Guy T. Kempe Director ofReal Estate and Carlos Toledo Development Consultant with acombined 90years mf experience in all aspects ofcommerda| and residential development. Our executive team over the years has worked in many public-private partnerships, NK|'sdevelopment activities have benefited underserved neighborhoods through public/private partnerships including Palm Beach County, West Palm Beach' Luke yVurih Beach and Boynton Beach with the goal of strengthening communities through pride of home ownership and removing blight. We reinforce continued homeownership and protect pubQc investment offunds with deed restrictions enforced upon sale to assure the homes remain affordable and do not fall into the ownership nfOut nfarea investors. A member ofthe development team, AW Architects is a full service firm located in Boca Raton, Florida. Founded in 1976, they provide Award winning, innovative, and strategic, planning and design solutions that make each project uniquely successful.Their services to both public and private clients include:architectural design, planning, interior design and 3D visualization. Furthermore,their design excellence has given them the opportunity to work with clients worldwide with a portfolio ofprojects that include residential single and multi-family. They are LEEDI Accredited and members of the United States Green Building Council, committed to sustainable design and development, We appreciate your consideration of our intention to develop the Cottage District iknnogh a public/private partnership that will provide working families and individuals with homeownership opportunities within their financial reach. Sincerely, ' Terri Murray ° Executive Director BOYNTO 16iiii B E M �YYa4a�±r'Ari`,A Boynton Beach Community Redevelopment Agency Policy for Processing Letters of Intent to Purchase Property The Boynton Beach CRA ("CRA") will use the process outlined in this Policy for Processing Letters of Intent to Purchase Property ("Policy") to address any Letters of Intent to Purchase Property that the CRA receives that are not the result of a formal request for such letters. The Policy is designed to ensure a fair process for property disposal, furthers the goals and objectives of the 2016 Boynton Beach Community Redevelopment Plan, and acts in the best interest of the CRA. Letter of Intent Policy: When the CRA receives a Letter of Intent to purchase a property owned by the CRA, the CRA staff will add an item to the agenda of the next regularly scheduled CRA Board meeting to discuss the Letter of Intent. However, if the Letter of Intent is received by the CRA less than 5 days before the next regularly scheduled CRA Board meeting, the CRA staff will add the Letter of Intent item to the agenda of the next available regularly scheduled CRA Board meeting. The CRA staff will include the Letter of Intent and all supporting documents as backup to the Letter of Intent agenda item. At the regularly scheduled CRA Board meeting,the CRA Board may consider one of the following options upon receipt of a Letter of Intent to purchase a CRA-owned property: Option I - The CRA Board may accept the Letter of Intent and direct the CRA staff and legal counsel to negotiate the terms and conditions of a Purchase and Development to be presented at a future meeting and direct the CRA staff to issue a thirty(30)day Public Notice to Dispose. If during the Public Notice period, the CRA receives one or more additional Letters of Intent to purchase the same property, the CRA Board will direct the CRA staff and legal counsel to develop a request for proposal document to be presented to the CRA Board for their consideration at the next available meeting. The CRA will then follow its regular procedures for issuing requests for proposals, evaluating responses, and selecting the successful proposal(s); Option II - The CRA Board may determine that it is in the best interest of the CRA to solicit additional offers to purchase the property, the CRA Board will direct the CRA staff and legal counsel to develop a request for proposal document to be presented to the CRA Board for their consideration at the next available meeting. The CRA will then follow its regular procedures for issuing requests for proposals, evaluating responses,and selecting the successful proposal(s); or, Option III -The CRA Board may determine that it is in the best interest of the CRA to reject the terms and conditions of the Letter of Intent and elect not to proceed with any further action. 00849969-1 BOYNTO C D wimBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 OLD BUSINESS AGENDAITEM: 13.C. SUBJECT: Update of Negotiations between the CRA and Affiliated Development, LLC for the 115 N. Federal Hwy I nfill Mixed Use Redevelopment Project SUMMARY: Since February 1, 2021, CRA staff and legal counsel has been diligently working with City staff and the Affiliated Development team on the terms of the Purchase and Development Agreement, Tax Increment Revenue Funding Agreement (TI RFA), and the Parking Lease Agreement. Like the other four proposals, The Pierce addressed the RFP/RFQ requirements (see Attachments I and I I). The Pierce offers 118 affordable units (50% of 236 total units) in an 8-story mixed use and mixed income development. Attachment I I I indicates that the developer was able to cover all income categories, price ranges, and unit types, even though many were one bedrooms in the 100-140% Boynton Beach Area Median Income (BBAMI) ranges. The proposal also received favorable reviews from the Board for its integration of Hurricane Alley and Ocean Mart into its site design and maintaining 79% open space. However, in order to fund the project, Affiliated's initial financing plan only allows the affordable units to remain affordable for 15 years and seeking 100% in Tax Increment Financing (TIF) reimbursement until the CRA sunsets in 2044 (18 years from project completion). Additionally, the Affiliated team indicated that the proposal requires the sale of the garage containing all of the parking for the development, including the 150 public spaces, to the CRA or the City to make it financially feasible. The challenge in the negotiation process is to ensure that public benefits are secured at a reasonable cost while allowing the developer to obtain a fair return for their investment. Upon selection of Affiliated Development, the CRA Board reached a consensus and provided staff and legal counsel direction to negotiate a longer maintenance of affordability period closer to perpetuity for as many units as possible. Attachment IV contains a comparison of Affiliated's proposed business terms. These elements are included in the three draft agreements mentioned previously and have been updated to include discussions from the March 9, 2022 CRA Board meeting (see Attachments V-VII). A term sheet detailing items requiring Board approval for deviations from current practices or Board direction is listed in Attachment VI 11. These include items such as but not limited to the project's milestones and monitoring mechanisms, reverter clause, assignments, subordination, termination, and default provisions. Previous Board direction on items such as the BBAMI and TI RFAAssignments are included as Attachments IX and X. Funding the 118 Affordable Units with TIF funding: After reviewing the numbers with Affiliated, the project will require the CRA to contribute $6.1 Million in TIF to maintain the affordability of the 118 units for 15 years and 11 of the units for an additional 10 years. The total asking is $11.6 Million from the CRA, which is 15.9% of the $73 Million Project Budget as indicated in Affiliated's Uses and Sources Table (see Attachment XI). Affiliated is contributing $18.9 Million or 25.6% of equity in the project and will need to finance the remaining $43.9 Million through its lender. The project's 100% TIF for 15 years from the CRA is the largest asking for TIF relative to other TIRFAs executed by the BBCRA (see Attachment XI 1). The recent MLK Jr. Boulevard Mixed Use (d/b/a Heart of Boynton Village Apartments, LLC) project, a Low Income Housing Tax Credit (LI HTC) project, is the only other project receiving 100% of TI F but is capped at$1.6 Million for 15 years for all of its 124 units. As a LI HTC project, the maintenance of affordability duration is an initial 50 years, after which the owner has the option to refinance but the units would remain affordable. The Board can discuss the costs and benefits of the various elements of the project and approve the TI F request at its discretion. The Parking Garage and Parking Lease Agreement: Affiliated's initial proposal indicated that Affiliated will build then sell the garage to the CRA/City for$10 Million with the ability to meter or assign it to another entity in the future. After consultation with the City's bond counsel, it was determined the City could not afford to buy or bond the $10 Million parking garage without a parking operations and maintenance study or thorough investigation of the risks involved if expenditures will exceed revenues before a Return on Investment (ROI) can be realized, especially when Downtown Boynton is not fully established. A schedule was developed at the request of the CRA, but this option requires a capital investment of $2.5 Million and monthly lease payment options ranging from zero dollars to $16,500 monthly and two 50-year renewals. The City was only interested in the lease option with no monthly rent payments. Under this option, the CRA will have to use Affiliated's $5.5 Million cash offer for the land to pay for the 150 public spaces in the garage to avoid a lease payment. The CRA deferred the decision on the lease terms to the City since the lease will survive the CRA's existence. City Commission approval will be required for the disposition of the land below market value. Of the three Agreements, the Parking Lease Agreement is the least developed since it was received on February 24, 2022, for review and had other terms which will need to be negotiated with the City. City and CRA comments have been incorporated into the latest Parking Lease Agreement and CRA legal counsel had discussions with Affiliated's legal counsel prior to the March 9, 2022 CRA Board meeting. March 9, 2022 CRA Board Meeting After lengthy discussions and hearing public comments at the March 9, 2022 CRA Board meeting, the Board voted to table the item since the Board felt decisions on this project should not be rushed. The Board directed CRA staff to continue negotiations with Affiliated to the best interests of the CRA and community. CRA Staff and legal counsel met with Affiliated on March 10, 2022, and have updated all documents (see Attachments I I I a and V-V 11) to reflect the Board's March 9, 2022 discussions. However, the CRA Board has discretion to amend any and all terms and conditions of these documents. The following items remains to be considered: 1. The total amount of CRA funding to Affiliated's gap financing for the maximum number of affordable units to be preserved with the longest affordability period (beyond 15 years proposed by Affiliated) and the funding of the 150 public parking spaces in addition to the project's required residential and commercial parking spaces. 2. How long should the Reverter Agreement remain in place to secure the public interest - Until beyond commencement of construction or after completion of construction? 3. Requiring Board approval for the assignment of the TI F from the project to an entity not owned by the principals of Affiliated after project completion. The combined comments for the Parking Lease Agreement were provided in a redlined format and forwarded to Affiliated on April 6, 2022. Staff anticipates this will require a little more work prior to Board execution and may also require City Commission approval to assume the CRA's obligations after its sunset in 2044. April 12, 2022 CRA Board Meeting At the April 12, 2022 CRA Board meeting, the item was tabled to allow new CRA Board members Angela Cruz and Tom Turkin time to review the supportive documents to make an informed decision. BACKGROUND: At the CRA Board Special Meeting on November 30, 2021, the CRA Board heard presentations from the five developers who responded to 115 N. Federal Highway Infill Mixed Use Redevelopment Project RFP/RFQ. • Affiliated Development, LLC • E2L Real Estate Solutions, LLC • Hyperion Development Group • Related Urban Development Group (RUDG), LLC • U.S. Construction, Inc. The RFP/RFQ document listed potential incentives, site plan requirements, submission requirements, and evaluation and selection requirements. The Board also heard a presentation of the financial effect to the CRA of the proposals presented by Mr. Barry Abramson, the CRA's financial consultant for the project. The evaluation, attached as Attachment XI 11, is a summary of the one-time revenues and costs with annual revenues to the CRA which are presented in 2022 dollars for an initial year of stabilized operation (approximately 2025 or 2026) and for a year ten years after that (approximately 2035 or 2036). At the conclusion of the presentations, the CRA Board selected Affiliated Development, LLC as top ranked team and directed staff and legal counsel to begin negotiating the terms of a purchase and development agreement to effectuate the redevelopment of the properties described in the RFP/RFQ (see Attachments XIV - XVI). Additionally, the Board also authorized staff to proceed with the second ranked developer, RUDG, if an acceptable agreement cannot be reached with Affiliated Development. The following activities have occurred since the November 30, 2021: • On December 8, 2021 - CRA staff, City staff, and CRA legal counsel met with the Affiliated Development team to outline the various development agreements that may be required to support their development proposal. • December 14, 2021 CRA Board meeting - CRA Board indicated their desire to keep the 114 N. Federal Highway (Ocean One) property separate from the CRA-owned 115 N. Federal Highway to simplify the negotiations process. • December 23, 2021 - CRA staff received correspondence from both Hyperion Development Group and Affiliated Development indicating they are working together on Assignment of the 209 N. Federal Highway. These discussions are private discussions between the two parties and does not involve the CRA. • January 19th and 25th meetings - CRA staff, City Staff, and CRA legal counsel met with Affiliated Development team on agreements • February 4th, 9th, 16th, 17th, 18th, and 24th meetings - CRA staff, City Staff, and CRA legal counsel met with Affiliated Development team on agreements FISCAL IMPACT: To be determined by the CRA Board C RA P LAN/P ROJ ECT/P ROG RAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: 1. Approve the Terms Sheet as presented and direct staff and legal counsel to revise the Purchase and Development Agreement, TI RFA, and Parking Lease Agreement and bring back the agreements for review at the next available CRA Board Agenda for approval. 2. Modify the Terms Sheet as amended and direct staff and legal counsel to revise the Purchase and Development Agreement, TI RFA, and Parking Lease Agreement and bring back the agreements for review at the next available CRA Board Agenda for approval. 3. Provide alternative Board direction to staff and legal counsel. ATTACHMENTS: Description D Attachment I - 115 N. Federal Highway Highway Infill M ixed-Use Redevelopment Project Request for Proposals and Developer Qualifications D Attachment II-Addenda D Attachment III -The Pierce TIF Unit Mix, Income Categories, and Pricing D Attachment Ilia -The Pierce TIF Unit Mix, Income Categories, and Pricing Revised after March 9, 2022 CRA Board Meeting D Attachment IV -The Pierce Project Elements Comparison Chart D Attachment V -The Pierce Draft Purchase and Development Agreement Revised from March 9, 2022 CRA Board Meeting D Attachment VI -The Pierce Draft TIRFA Revised from March 9, 2022 CRA Board Meeting D Attachment VII -The Pierce Draft Parking Lease Agreement dated 4-6-22 D Attachment VIII -The Pierce TIRFA and PD Summary of Terms Sheet D Attachment IX - Discussion on Draft 115 N. Federal Highway RFP-RFQ and 7- 13-21 Meeting Minutes D Attachment - Discussion on T I RFA Agreements and 4-13-21 Meeting Minutes D Attachment XI -The Pierce Uses and Sources Chart D Attachment XII -Summary of T I R and TIRFA D Attachment XIII - Barry Abramson's Financial Analysis D Attachment XIV -Affiliated Development Presentation D Attachment XV -Affiliated Development Proposal - Part 1 D Attachment XVI -Affiliated Development Proposal - Part 2 BOYNTON It On% WAMBEACH k%wo' .. BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY REQUEST FOR PROPOSALS AND DEVELOPER QUALIFICATIONS 115 N. Federal Highway Infill Mixed-Use Redevelopment Proiect Location: Boynton Beach Community Redevelopment (BBCRA) Owned Properties Issue Date: July 23, 2021 Submittal Deadline: October 19, 2021, no later than 2:00 p.m. The Boynton Beach Community Redevelopment Agency (BBCRA) is issuing this Request for Proposals and Developer Qualifications (RFP/RFQ) for the acquisition and redevelopment of various BBCRA owned parcels including 115 N. Federal Highway, Boynton Beach, Florida,; adjacent parcels for which the BBCRA has secured the property owners' consent to include in this RFP/RFQ and which the BBCRA anticipates owning prior to project commencement; and other parcels not owned or controlled by the BBCRA, as referenced and identified on Attachment "A," Aerial Map/Parcel Map, and hereinafter collectively referred to as the "Project Site". The BBCRA will accept sealed proposals at its office located in City Hall at 100 E. Ocean Avenue, 41" floor, Boynton Beach, FL 33435 ON OR BEFORE October 19, 2021, no later than 2:00 p.m. Eastern Standard Time (EST), as determined by the time stamp or clock at the BBCRA's reception area. Responses to this RFP/RFQ ("Proposals") received after the date and time set forth above will NOT BE ACCEPTED FOR CONSIDERATION. All proposals will be date and time stamped by the BBCRA. Faxed or emailed proposals will not be accepted. The RFP/RFQ documents, including all related attachments, must be obtained from the BBCRA office or website at wwwoboyntonbeachcra.com (Select RFPs/RFQs/ITBs from the Business & Development top drop down menu). 1. Property Disposal and Proiect Description This RFP/RFQ is being issued for a project known as the 115 N. Federal Highway Infill Mixed-Use Redevelopment Project (the "Project"), and is seeking proposals for the acquisition and redevelopment of a BBCRA-owned property located at the Project Site as described in Attachment "A," Aerial Map/Parcel Map. The development will consist of a mixed-use Page 1 of 30 development project providing retail, office, public parking, and residential uses with a workforce housing component as specified in Paragraphs 9 and 10. The property being offered (including the parcels the BBCRA is in the process of negotiating acquisition) is approximately 2.28 acres.The property is located within the Downtown District as described in the 2016 BBCRA Community Redevelopment Plan and may be accessed online at htt s: wwwobo ntonbeachcraocom home show ublisheddocument 14 637296289931970000 (Pages 71-80). It carries a recommended Future Land Use of Mixed-Use High with a corresponding Zoning designation of Mixed-Use Core. The recommended land use and zoning designations provide for a density of 80 units per acre with a maximum allowable building height of 150 feet. Under defined circumstances, allowable density may be increased by twenty-five percent (25%) if a proposed development meets certain requirements under the City of Boynton Beach's Workforce Housing Ordinance. It is the responsibility of each proposer to review the City of Boynton Beach Land Development Regulations, and applicable site plan and design guidelines and limitations. Additionally, the Project Site is located within the designated Transit Oriented Development (TOD) and Transportation Concurrency Exemption Area (TCEA) of the City of Boynton Beach and is also located in the PBC Qualified Opportunity Zone. PBC Qualified Opportunity Zone information, may be obtained online at http:ffmaps.co.palm- beach.fl.usfcwgisf?app=pbc interactive. All proposals and Projects must be in conformance with and in furtherance of the 2016 Boynton Beach Community Redevelopment Plan ("BBCRA Plan"). 2. Community and Economic Setting The City of Boynton Beach (City), with a population of 72,000, is the third largest city in Palm Beach County, Florida. It is located approximately 45 miles north of Miami and 15 miles south of West Palm Beach.This puts it in the heart of southeast Florida's rapidly growing tri-county Miami- Dade/Broward/Palm Beach metropolitan area. Boynton Beach has direct access to the Intracoastal Waterway, Interstate 95 (I-95)and the Florida Turnpike. It also has a market of more than six (6) million people within a two-hour radius and ready access to three international airports, two major rail lines, as well as the Tri-Rail regional commuter rail system. 3. Survey and Appraisal An aerial boundary and parcel map along with a copy of the property survey is included with this RFP-RFQ as Attachments "A," Aerial Map/Parcel Map and "B," Survey of BBCRA Owned Properties and Dewey Park. All appraisals and surveys of the subject properties that make up the Project Site are available or will be provided upon the BBCRA's acquisition in electronic form on the BBCRA's website, aps:��wwwobontonbeachcraocom/business-development�rfps-rfgs- itbs. Proposers should not rely solely on the information in the appraisal when compiling the Page 2 of 30 financial components of a proposal. The appraised value of BBCRA properties should be considered by proposer(s) in the offering price and request for BBCRA incentives. 4. Palm Beach County Impact Fees Development of the property will be subject to Palm Beach County Impact Fees. Please contact the Planning, Zoning and Building Administration Division of Palm Beach County for specific information regarding impact fees applicable to the Project, or go to www.discover. be ov.or Z z Ladministration to download relevant information. S. Incentives for the Proiect Under Chapter 163, Florida Statutes, the BBCRA is empowered to encourage and incentivize redevelopment within the BBCRA Redevelopment Area consistent with the BBCRA Plan. The BBCRA is committed to meeting the goals and objectives of the BBCRA Plan and will support the Project with policies and may, at the sole discretion of the Board, consider providing Tax Increment Revenue (TIR) funding subject to negotiated terms and conditions. 6. Pre-Submission Meeting A voluntary in-person pre-submission meeting has been scheduled for August 19, 2021 at 4:00 p.m. (EST) in City Hall Chambers, located at 100 E. Ocean Avenue. The meeting is an opportunity for proposers to ask City and BBCRA staff questions about the Project. 7. Proposer Registration All entities interested in responding to this RFP/RFQ must register with the BBCRA via email by providing their name, address, telephone number, and an email address to Ms. Thuy Shutt, BBCRA Assistant Director, at ShuttT@bbflous. Any information concerning addenda, changes, additions, clarifications, notices, and other topics related to this RFP/RFQ will be sent to registered proposers using the registration information provided. 8. Additional Information After the proposals are received by the BBCRA, the BBCRA may make requests to proposers for clarifications,assurances,orfor other details including, but not limited to,financial and disclosure data relating to the proposal or proposer (including all affiliates, officers, directors, partners and employees). Any inquiries of a general nature applicable to all proposers will be directed to all proposers. Following submission of a proposal, the proposer agrees to promptly deliver such further details, information and assurances, including, but not limited to, financial and disclosure data relating to the proposal and/or the proposer (including the proposer's affiliates, officers, directors, partners and employees), as requested by the BBCRA. 9. Architectural and Design Requirements The Project should incorporate quality architectural design and site development standards that enhance the downtown area and adjacent properties. Proposers should review the BBCRA Plan Page 3 of 30 for Project development and design guidance. Proposals will be evaluated on their adherence and incorporation of architectural and design elements presented in the BBCRA Plan and the City of Boynton Beach Land Development Regulations. At minimum, the proposals shall include the following requirements: a. Creation of a mixed-use development project providing retail, office, grocery store, and residential uses. The proposed project must contain a workforce housing component that will be affordable to households with income of 80-140% of the City of Boynton Beach Area Median Income (AMI) levels as described below: Moderate income (80%to 120%) $52,146 to $78,218 Middle income (120%to 140%) $78,218 to $91,255; b. Incorporation of public spaces and plazas, publicly accessible WiFi, enhanced green elements into the proposed design including the preservation and enhancement of the City of Boynton's Dewey Park (see Attachment A); c. Construction of a minimum of one hundred fifty (150) parking spaces open to the public in addition to the amount of parking spaces required for the development itself; d. Incorporation of multimodal accommodations and amenities into the Project's design, such as but not limited to shared bicycle, "last mile" vehicle stops such as Uber or Lyft, commuter bus stops and a future commuter rail stop located on the Federal East Coast Railway property on NE 4t" Street (see Attachment "A," Aerial Map/Parcel Map); e. High quality exterior design and lighting enhancements of proposed parking garage structures to ensure compatibility with the surrounding area; and, f. Enhanced environmental features such as but not limited to electric vehicle charging stations and solar powered building and/or site components, etc. 10. Required Elements of Proposals Proposals must contain all of the following documents and information with tabbed sections in the order specified below to be deemed complete. Proposals not deemed complete may be rejected. a. Provide a general written statement describing the qualifications and background of the proposer including any financial (equity) partner. b. Provide a certificate of good standing from the Secretary of State of Florida and the state in which the corporation is headquartered, if not Florida. c. Provide a list of proposer's key personnel that will be directly involved in proposed Project's development or management team, along with their professional qualifications, and a list of similar projects on which they have actively participated. Provide no less than three and no more than ten related projects for this item. d. Provide a written list of similar mixed-use projects developed by the proposer, or companies controlled by its principals, and proposer's team that were completed within the last ten (10) years, including photographs, addresses, dates the projects were completed, and general project description. For projects that are public-private Page 4 of 30 partnerships, list the public partner and their contact information including name, title, address, email, and phone numbers. Provide no less than two (2) and no more than ten (10) projects for this item. If the proposer is comprised of more than one entity in a joint venture or partnership, each entity must provide the information requested separately. For joint ventures, development and equity partners, the proposer must summarize the actual or proposed amount of financial participation and control of each party within the partnership. If the entity is a subsidiary of, or otherwise affiliated with another organization, the proposer shall indicate such relationship. The proposer shall also list all proposed anchor tenants, if known at the time of submission, and third-party operators of the development. The proposer shall include the name and a description of the legal entity that would serve as the developer and be party to the Purchase and Development Agreement with the BBCRA. The proposer shall also provide the names and addresses of all persons and entities having a financial interest, mortgagee(s), or guarantor(s) in the proposed development and their roles in the project and the proposing entity. For joint ventures, the proposer must summarize the actual or proposed amount of financial participation and control of each party within the partnership. If the entity is a subsidiary of, or otherwise affiliated with another organization, the proposer shall indicate such relationship. The proposer shall also list all proposed anchor tenants and third-party operators of the development if known. e. Provide a brief profile for each member of the development team other than the proposing developer,as well as the resumes of the key personnel who would be assigned to the project. The proposer shall also identify any prior relations with the BBCRA for each individual team member or firm, members of its Board or its officers. The BBCRA reserves the right, in its sole discretion, to request additional information from any member of the development team to determine potential conflicts of interest and to limit or prohibit the participation of any team member or firm due to such conflict. f. State whether the proposed project is confined to the property offered by the BBCRA or if it utilizes adjacent property. If the latter, specify the location, size, use, level of control/commitment of such adjacent property to be included in the proposer's project and provide documentation evidencing site control or contractual commitment. If adjacent properties intended to be included in the project are not under the proposer's control, the proposal should include: (1) A base proposed concept assuming only the offered BBCRA property; and, (2) a proposed concept assuming the inclusion of the additional adjacent property. If the proposer wishes to propose variances from or changes to the requirements of the Land Development Regulations or the City's Comprehensive Plan, the proposal should include: (1) A base proposed concept without Page 5 of 30 the proposed variances or changes; and, (2) a proposed concept with the proposed variances or changes. g. Provide a Construction Staging and Sequencing Plan including nature and timing of on- and off-site impacts. Vehicular and Pedestrian Traffic Analysis and Plan for the proposed development demonstrating the proposed project would not cause unreasonably negative traffic impacts in the context of the Downtown District environment, and any modifications or improvements required to mitigate such impacts to maintain the integrity of the downtown traffic system, which, subject to City approval, would be the responsibility of the developer to fund as part of the project. h. Provide a detailed description of the proposed Project, with text, tabulations and graphics.This should include but it is not limited to a schematic site layout plan; proposed density, intensity, and height; parking locations and allocation per project component; a breakdown of the proposed total number of residential units and unit types, including number of bedrooms and bathrooms, and square footage for each unit type, whether condo or rental, and level of affordability, nature and square footage of commercial components, total gross building area (not including unenclosed/outdoor areas) and net rentable or salable area per project component (number of units, parking spaces, square footages should be provided per level as well as in total), conceptual elevations, as well as the information indicating compliance with the objectives and requirements of the plan and requirements specified in Paragraph 9, "Architectural and Design Requirements." i. Provide a proforma financial analysis including a development budget with a detailed breakdown of all project pre-development costs, other soft and financing costs, property acquisition from the BBCRA (and others if additional properties are included in the proposal), construction and other hard costs and post -construction period sales or other development costs, a sources and uses statement clearly identifying the sources and amounts and terms of all of the proposed debt and equity funding sources to pay for the project an operating cash flow detailing projected gross income, expenses, debt service and net cash flow, broken out by project component, for the development period and at least ten years of operation beginning upon project completion for a rental project/component(s) and through sell-out for a condominium project/component(s). Include a breakdown of the amount and terms of any proposed funding assistance being requested of the BBCRA, if applicable, and how those funds will be used when combined with other funding sources. A proposer may submit the requested breakdown information under a format of their own choosing but must also complete the Proposed Project Funding Uses and Sources Information form provided as Attachment "F". If the project is to be developed in more than one phase, clearly present the above information for each independent phase as well as in aggregate for total project. Provide assumptions and bases for the analysis including comparables and/or other support for estimated rental rates, sales prices, costs, expenses and other elements of analysis. Page 6 of 30 j. If the Project is proposed to use funding subsidies from the BBCRA or other qualified entities, proposer must provide a list of those entities and demonstrate experience with obtaining such project-based subsidies for workforce housing by listing projects and the amount and type of subsidy utilized or other information that would support proposer's ability to secure such financing. k. Provide a description of how the proposer will make attempts to utilize local qualified contractors, and sub-contractors, and laborers in the proposed Project as well as pre- apprenticeship or apprenticeship training. Documentation of this effort will be required as part of the project monitoring. I. Provide proof of financial capability to complete the proposed Project. Financial capability will be demonstrated by submitting a current (audited, if available) financial statement of the proposing entity, or underlying entity if proposing entity was recently created, which includes a balance sheet, a three-year statement of past income, and a projected one-year income statement for the current fiscal year for the proposer(and its parent entity if proposer is a subsidiary). In lieu of the above, the proposer shall submit third party evidence of the ability to secure financing in the form of a preliminary financing commitment letter or letter of interest from a lending institution or other primary source of debt or other financing. A firm financing commitment from a lending institution or other source of investment financing will be required prior to the closing of the sale of the Project property, or as otherwise stipulated in negotiated Agreement between the successful proposer and the BBCRA. Information regarding any legal or administrative actions, past or pending, that might impact the capacity of the proposer(or its principals or affiliates)to complete the Project must be disclosed. Disclosure of any bankruptcies by any of the above or related entities during the past ten years must be made with the RFP/RFQ. Financial information should be submitted in a separate, sealed envelope or package and marked 'confidential.' Financial information will be accepted only from the proposer as part of the submission packet and will not be accepted if it is submitted directly to the BBCRA by an outside entity or institution. m. A signed written statement of intent to purchase the Project property indicating the proposed purchase price along with a statement of willingness to execute a Purchase and Development Agreement within 90 days of selection if selected. Any Purchase and Development Agreement ("Agreement") will contain performance-based criteria and milestone timelines for items such as, securing debt funding,formal site plan application, commencement of construction, limitations on transferability or assignability of the Agreement without prior approval from the BBCRA, termination provisions for failure to meet the criteria listed and other provisions to adequately define the rights, duties and obligations of the parties. The Agreement may also contain a reverter clause. Page 7 of 30 n. Provide authorization to Perform Credit Check for each proposer or business entity. The Authorization must be executed by the appropriate officer of proposer entity (see Attachment "D.1 & D.2.," Disclosure and Authorization to Perform Credit Check forms). o. A list of all civil and criminal legal actions in which each proposer entity (and its parent entity if it is a subsidiary) is currently a named party or was a named party in the past four (4) years, providing the case number, case description, the state of jurisdiction, and disposition (or status) of each case. Proposer(s) may include any additional relevant information. If there are no legal actions to disclose, provide a written statement attesting to this fact. p. Provide a statement if the proposer is in arrears of any taxes or other financial obligations to the BBCRA, City, or any other municipal or state entities. Proposer(s) may include additional relevant information. If there are no arrears of any taxes or other financial obligations to disclose, provide a written statement attesting to this fact. q. Provide a PowerPoint presentation of the proposal, consisting of no more than 15 slides. with maximum of three (3) slides dedicated to Proposer's past history and experience information. All remaining slides will focus on description of the development of the proposed project (e.g. site, program, design, construction, development cost, schedule, financing, proposed acquisition terms, estimated absorption rates and sales/leasing/operations). r. Providing executed form verifying that the proposer has met with City of Boynton Beach Planning and Development Department staff to reviewthe Land Development Regulation requirements and development review processes applicable to the Project being proposed (see Attachment "E," City of Boynton Beach Planning and Development Department Meeting Verification Forms). s. All other requirements contained in this RFP/RFQ including all attachments that request a proposal or information from the proposer. t. An acknowledgement letter attesting that the proposer has read and understands all procedures and requirements of this RFP/RFQ (see Attachment "L," Acknowledgement Letter). 11. Submittal Package Requirements a. Location and Deadline. Proposals must be received by the BBCRA at 100 East Ocean Avenue, 4t" Floor, Boynton Beach, FL 33435 on or before October 19, 2021, no later than 2:00 p.m. Eastern Standard Time(the Deadline),as determined bythe time stamp or clock at the BBCRA's reception area. Proposals received after the date and time set forth above will NOT BE ACCEPTED FOR CONSIDERATION. Proposers may withdraw submitted proposals and resubmit at any time prior to the Deadline. b. Form and Number of Copies. Proposals must be delivered in a sealed box or envelope. Faxed and emailed proposals will not be accepted. In total, one (1) bound original proposal document must be submitted with a title page listing the name of the RFP/RFQ and the submitting proposer along with one (1) unbound but clipped copy of the proposal Page 8 of 30 and one (1) digital copy of the complete proposal in PDF format on a labeled CD/DVD or thumb drive. Proposals shall be clearly marked on the outside of the envelope or delivery box container as follows: Request for Proposals and Developer Qualifications for the 115 N. Federal Highway Infill Mixed-Use Redevelopment Proiect Boynton Beach Community Redevelopment Agency City of Boynton Beach, Florida Issue Date: July 23, 2021 Submittal Deadline: October 19, 2021, no later than 2:00 p.m. (EST) c. Completeness. All proposals must be complete upon submittal to the BBCRA. d. Signature. The proposal, and any documents submitted with the proposal that require a signature, must be signed by an individual authorized by proposer to legally bind and represent proposer. e. Failure to Meet Submittal Requirements. The failure to meet the deadline, submit a proposal that complies with the form and number of copies requirements, or submit a complete proposal may result in the proposal being rejected and returned at the sole discretion of the BBCRA. f. Proposal validity. Proposals shall remain valid and binding on proposers for 180 days after the submittal date. 12. RFP/RFQ Documents Provided The following planning and site documents are considered part of this RFP/RFQ and may be obtained from the BBCRA office or https: /www.boIntonbeachcra.comusiness- evelo�ment/rf s-rfgs-itbso • Survey of BBCRA Owned Properties and Dewey Park (provided as Attachment "B") • Phase I and/or Phase II Environmental Report • Property Appraisals • 2016 Boynton Beach Community Redevelopment Plan In addition, all proposers are encouraged to walk the area surrounding the Project location and it will be assumed that each proposer has performed all necessary visual inspections on the property. 13. RFP/RFQ Proposal Evaluation and Selection Process The BBCRA staff shall review each proposal and provide a determination to the BBCRA Board as to whether or not each proposal meets the minimum submission requirements for review, Page 9 of 30 including whether the proposal is complete, and whether it fully complies with the terms and conditions outlined in this RFP/RFQ. A proposer's failure to provide a substantially complete RFP/RFQ response submission may result in the submission not being evaluated. The BBCRA Board or staff may request clarification of submitted information from any proposer. The confidentiality of proprietary information from competing Proposers shall be maintained to the extent permitted by law. In addition to meeting the minimum requirements of this RFP/RFQ as described in Paragraphs 9 and 10, each proposal will be evaluated on the following criteria. As noted below, adequate capability to successfully undertake the proposed project is a minimum standard which shall be met before any other criterion is considered: a. Capability of the Proposer and Development Team. Primary focus shall be on the experience, qualifications, and financial capacity of the proposer(and financial partner, if any is identified and to the extent firmly committed)considering:Track record of securing financing for (or self-financing) and developing projects of comparable nature and comparable or greater scale and of high quality in terms of their use and architecture; evidence of financing relationships and interest in the proposed project; other information indicating the proposer's financial capacity which it chooses to provide at this stage; reputation in the industry for competence and integrity;and successful completion of public-private development experience, if any. The capability and track record for high quality design of the architect/design team will also be considered. Note that if a proposer whose qualifications and financial capacity are not considered adequate to successfully undertake the project, the proposer will not be considered no matter what the proposal's merits on other criteria. Assuming adequacy of qualifications, relative qualifications,and capacitywill be considered comparative criteria weighed along with the other criteria. b. Likelihood of Feasibility. The likelihood of the proposed project being feasible in a reasonable timeframe, considering: (1) The thoroughness and convincing nature of the market, development/construction, financing,operating,and other elements of the proposer's analyses,assumptions,and strategies; (2) Financing commitments, if any; (3) Extent of control of any additional properties proposed to be included in the project; (4) Implementation schedule; and, (5) Conditions and contingencies for realizing the project such as financing, market/pre- leasing, and regulatory/approvals, and how likely these are to be achieved. c. Financial Return/Effect to BBCRA. This would include the value of the proposed sale terms, any subsidy requested from the BBCRA and the value of the additional public parking to be provided by the proposer, as well as real estate taxes and any other direct or other clearly identifiable revenues to the BBCRA that would be generated by the project, and consideration of the timing and likelihood of receiving these revenues and any such other direct values or costs that the BBCRA in its discretion considers relevant Page 10 of 30 and can reasonably be evaluated. (It should be noted that, although revenue generated by the project is an important evaluation criterion, the BBCRA is not obligated to select or negotiate with the proposer who proposes the highest financial return to the BBCRA.) d. Fulfilment of the CRA's requirements and objectives for the project as stated in Paragraph 1. This would include the number of public parking spaces, operational efficiency, aesthetic quality, and amenity of the proposed public parking component, the extent and nature of workforce housing, the proposed project's ability to contribute to the vitality, amenity, and economic activity of and in the Downtown District, have a high quality architecture and aesthetic appeal, and the inclusion of meaningful open spaces, providing green and sustainable components and initiatives beyond what is required and/or that are unique solutions, and the inclusion of adjacent properties to the extent that it will improve the overall quality of the proposed development; and, e. Proposed plan or program to use local contractors, sub-contractors, and laborers in the Project. The plan or program shall include pre-apprenticeship or apprenticeship training and monitoring mechanisms. After the BBCRA staff reviews the proposals for completeness and evaluates the proposals based on the criteria above, the BBCRA staff will present the results of the review and evaluation process to the BBCRA Advisory Board and BBCRA Board at a public meeting. The Proposers will present their proposals and their PowerPoint slide presentations before the BBCRA Advisory Board and the same presentation to BBCRA Board at their regular scheduled meetings in the City Commission Chambers at City Hall located at 100 E. Ocean Avenue. The BBCRA Advisory Board acts as a recommendation body to the BBCRA Board. The BBCRA Board will then consider all proposals that meet the minimum submission requirements for review, BBCRA staff review, the BBCRA Advisory Board recommendation, and/or any other relevant data in the selection of the successful proposer. At the conclusion of the public presentations, a proposer may be selected by the BBCRA Board. However, the BBCRA Board is under no obligation to select a proposer regardless of their ranking, and can, at its sole discretion, opt to terminate the RFP/RFQ process or continue the process to a subsequent meeting. The existence of a contractual relationship between a proposer and the BBCRA is contingent upon successful negotiations between the BBCRA and a selected proposer, and execution of an Agreement by both parties. Therefore, upon selection of a successful proposer, the BBCRA and the successful proposer will then enter into negotiations for a Purchase and Development Agreement that will contain terms substantially similar to those contained in the successful proposal and this RFP/RFQ. • Any Purchase and Development Agreement must be in a form approved by the BBCRA Board and BBCRA legal counsel. • If the BBCRA and the successful proposer are not able to agree upon a Purchase and Development Agreement satisfactory to both parties within ninety (90) days of the Page 11 of 30 selection of the successful proposer, proposer shall have the right to terminate the negotiations. The BBCRA may terminate negotiations at any time for any reason. • If the BBCRA sends an agreed-upon Purchase and Development Agreement, or sends a Purchase and Development Agreement with a communication that informs the proposer that the Agreement constitutes the BBCRA's final offer, and proposer fails to return an executed copy of the provided Purchase and Development Agreement within 30 days of receipt of such Agreement from the BBCRA, the negotiations are deemed terminated unless the BBCRA explicitly extends the deadline in writing. • The BBCRA may withdraw its offer of Agreement, including a final offer, at anytime prior to acceptance of such Agreement. Upon termination of negotiations or withdrawal of offer of an Agreement, the BBCRA may move forward as it deems appropriate, which may include entering into negotiations with another proposer, re-advertising the RFP/RFQ electing to terminate the RFP/RFQ process, or any other action it deems to be in the best interest of the BBCRA. Any transfer of the property from the BBCRA to a proposer for less than market value will be subject to approval of the City of Boynton Beach City Commission. 14.Tentative Schedule The following tentative schedule is anticipated for actions related to this RFP/RFQ. All dates, times, and locations are subject to change. All changes will be posted to the BBCRA's website at wwwoboyntonbeachcraocom. Issue Date of RFP/RFQ: July 23, 2021 Voluntary Pre-Submission Meeting August 19, 2021 Question/Request for Clarification Deadline: September 30, 2021 Submittal Deadline: October 19, 2021 Presentation to Advisory Board: November 4, 2021 Presentation to BBCRA Board: November 30, 2021 Proposer Selection by BBCRA Board: December 14, 2021 Purchase and Development Agreement: February 8, 2022 (Note: The dates offered above are subject to change — registered interested parties will be notified by email of changes, if any.) 15. Contact and Questions a. Contact Information. All correspondence, questions, and requests for clarifications related to this RFP/RFQ must be directed to the person designated as the procurement officer for this RFP/RFQ: Page 12 of 30 Thuy Shutt, Assistant Director Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue, 4t" Floor Boynton Beach, Florida 33435 Phone: (561) 600-9098 Fax: (561) 737-3258 Email: ShuttT@bbfl.us b. Form of Contact; Answers in the Form of Addenda. All correspondence, questions, requests must be submitted in writing via email to the person identified above and may be submitted at any time but no later than 5:00 p.m. (EST) on September 30, 2021. All answers to questions, clarifications, and interpretations will be issued in the form of addenda,which become part of this RFP/RFQ.The proposer must acknowledge receipt of each addenda by completing the Addenda Acknowledgement form and including it with the submitted Proposal (see Attachment "H"). It is the responsibility of all proposers to obtain, review and respond to any and all addenda issued. Oral explanations, information, and instructions shall not be considered binding on the BBCRA.All proposers are encouraged to independently verify the accuracy of any information provided. Neither the BBCRA nor any of its agents or employees shall be responsible for the accuracy of any oral information provided to any proposer, or to any assumptions made by proposer. Written responses to all written questions submitted shall be maintained by the BBCRA in the RFP/RFQ file. c. Limitations on Communications; Cone of Silence; No Lobbying. Proposer or persons acting on proposer's behalf may not contact, between the release of the solicitation and the end of the 72-hour period following the BBCRA posting the notice of intended award (excluding Saturdays, Sundays, and state holidays), any employee, officer, or board member of the BBCRA concerning any aspect of this RFP/RFQ, except in writing to the procurement officer or as provided in the RFP/RFP documents. Violation of this provision may be grounds for rejecting a response. Further, during the same time period, proposer or persons acting on proposer's behalf may not contact any BBCRA Advisory Board Member, or any other person working on behalf of the BBCRA on any matter related to this RFP/RFQ. Communication prohibited by this RFP/RFQ or by any other state, federal, or local law or regulation, may cause an individual or firm to be disqualified immediately from participating in the proposal or selection process. Any violation of this condition may result in rejection and/or disqualification of the proposer's proposal. Page 13 of 30 For purposes of this section, persons acting on proposer's behalf shall include, but not be limited to, the proposer's employees, partners, attorneys,officers, directors, consultants, lobbyists, or any actual or potential subcontractor or consultant of the proposer. This "Cone of Silence/No Lobbying" is in effect from the date of publication of the RFP/RFQ and shall terminate at 1) the time the BBCRA Board selects a proposer, rejects all proposals, or otherwise act which ends the solicitation process; or 2) at the end of the 72- hour period following the BBCRA posting the notice of intended award, excluding Saturdays, Sundays, and state holidays, whichever is later. 16. Disclosure and Disclaimer Proposer understands and acknowledges that to the extent permitted by law, the BBCRA retains all rights, at its sole and absolute discretion, to: a. Withdraw this RFP/RFQ at anytime; b. Modify the schedule associated with this RFP/RFQ; c. Issue addenda to this RFP/RFQ; d. Request additional information, clarifications, or assurances from one or more proposers or prospective proposers; e. Reject any and all proposals; f. Refrain from awarding an Agreement as a result of this RFP/RFQ; g. Verify the accuracy of any information provided; h. Accept proposals that deviate from this RFP/RFQ; i. Disqualify or reject proposals that are incomplete, untimely, or unclear; j. Re-advertise this RFP/RFQ and accept new proposals; k. Obtain economic feasibility studies or third-party evaluations with regard to any part of any proposal; I. Evaluate the proposals through any process that complies with the BBCRA Procurement Policy, this RFP/RFQ, and applicable Florida Statutes, m. Select the one or more successful proposals or proposers it deems will be in the best interests of the BBCRA, regardless of which proposal appears to offer the best monetary value to the BBCRA; n. Waive any required element or condition found in this RFP/RFQ for all proposals or for a specific proposal; o. Waive any formalities associated with this RFP/RFQ; p. Negotiate Agreements, abandon or withdraw from negotiations, approve Agreements, and take other similar actions as a result of this RFP/RFQ. Any proposer who submits a proposal in response to this RFP/RFQ fully acknowledges all the provisions of this disclosure and disclaimer and agrees to be bound by the terms hereof. In the event of any differences between this disclosure and disclaimer and the balance of the RFP/RFQ, the provisions of this disclosure and disclaimer shall govern. If proposer fails to fully comply with all requirements of this RFP/RFQ, proposer or proposer's proposal may be disqualified. Page 14 of 30 17. Protests The Bid Protest Policy is available upon request. Submittal of a proposal in response to this RFP/RFQ constitutes acceptance of this policy. 18. Non-Discrimination The selected proposer, on behalf of itself, its successors and its assigns, agrees that no person shall, on the ground of race, color, disability, national origin, religion, age, familial status, sex, or sexual orientation, be subjected to discrimination in any way that is associated with the RFP/RFQ the BBCRA, the proposal, any Agreement resulting from this RFP/RFQ, or the Project. 19. Permits,Taxes, Licenses and Laws The successful proposer will be required to pay for and/or obtain, at its own expense, all permits, licenses, fees, and taxes required, and to comply with all federal, state, and local laws, ordinances, rules, and regulations applicable to responding to this RFP/RFQ and carrying out the Project. 20. Sensitive and Proprietary Information The BBCRA will maintain the confidentiality of sensitive and proprietary information to the extent permitted by law. The BBCRA will consider all other information, documentation and other materials submitted in response to this RFP/RFQto be of non-confidential and or non-proprietary nature and therefore subject to public disclosure under Chapter 119 of the Florida State Statutes. If a proposer believes any portion of a proposal is exempt from public records disclosure, the proposer must identify the portion of the proposal it believes it is exempt, state the reason for exemption, and request the BBCRA exempt it from public records disclosure. The BBCRA will exempt potions of a proposal from public records disclosure only to the extent permitted by law. 21. Public Records The BBCRA is public agency subject to Chapter 119, Florida Statutes.The successful proposer shall comply with Florida's Public Records Law. Specifically, the successful proposer shall: a. Keep and maintain public records that ordinarily and necessarily would be required by the BBCRA in order to perform the service; b. Provide the public with access to such public records on the same terms and conditions that the BBCRA would provide the records and at a cost that does not exceed that provided in chapter 119, Fla. Stat., or as otherwise provided by law; c. Ensure that public records that are exempt or that are confidential and exempt from public record requirements are not disclosed except as authorized by law; and, d. Meet all requirements for retaining public records and transfer to the BBCRA, at no cost, all public records in possession of the proposer upon termination of the contract and destroy any duplicate public records that are exempt or confidential and exempt. All records stored electronically must be provided to the BBCRA in a format that is compatible with the information technology systems of the BBCRA. Page 15 of 30 IF PROPOSER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO PROPOSER'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS RFP/RFQ, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (561)737-3256; 100 E. Ocean Avenue, Boynton Beach, Florida 33435, ShuttT@bbfl.us. 22. Public Entity Crimes Statement A person or affiliate who has been placed on the convicted vendor list following a conviction for a public entity crime may not submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; may not submit a bid, proposal, or reply on a contract with a public entity for the construction or repair of a public building or public work; may not submit bids, proposals, or replies on leases of real property to a public entity; may not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under a contract with any public entity; and may not transact business with any public entity in excess of the threshold amount provided in s. 287.017 for CATEGORY TWO for a period of 36 months following the date of being placed on the convicted vendor list. In order to qualify for consideration under this RFP/RFQ, proposer must complete and attach Attachment "I," Public Entity Crimes Statement. 23. Drug Free Workplace Certification Preference shall be given to proposer(s) with drug free work programs, under the standards described in Section 287.087, Florida Statutes. Whenever two (2) or more proposals that are equal with respect to price, quality and service are received by the BBCRA or by any political subdivision for the procurement of commodities or contractual services, a proposal received from a business that certifies that it has implemented a drug-free workplace program shall be given preference in the award process. In order to receive such preference, the proposer shall complete and submit with its proposal the attached certification, Attachment "J," Drug Free Workplace Certification. 24. Non-Scrutinized Entity By submitting a bid, bidder certifies that it is not on the Scrutinized Companies that Boycott Israel List created pursuant to Section 215.4725, Florida Statutes, and is not engaged in a boycott of Israel. Bidders must complete Attachment "K;' Certification of Non-Scrutinized Entity. END OF MAIN DOCUMENT PROCEED TO ATTACHMENTS Page 16 of 30 List of Attachments: A. Aerial Map/Parcel Map B. Survey of BBCRA Owned Properties and Dewey Park C. Proposer Information D. 1. Authorization to Perform a Credit Check (personal) 2. Authorization to Perform a Credit Check (business entity) E. City of Boynton Beach Planning and Development Department Meeting Verification Form F. Proposed Project Funding Uses and Sources Information G. Authorization for Release of Information H. Addenda Acknowledgement I. Public Entity Crimes Statement J. Drug Free Workplace Certification K. Certification of Non-Scrutinized Entity L. Acknowledgment Letter Page 17 of 30 ATTACHMENT "A" AERIAL MAP/PARCEL MAP 7 � a h "A"2" t ;V so 1�}+ t o O 'fi�tlf' t��ltyi +l+y or ' m v m c m ' `° c m'J O/ r 8i Lij W W Oi N ,6 d `N ,O c a, c -o c m c av d6� � � Y411, $ ASSYt14� �� t . 4){rl+} tty r �kj`,f�S ��„"}��llftttu,(t t+}.d+;� U!li 3ita tj`tnNN3 z+h,tSNdl �A1 Y(ir t9 7ltltltl,�t II titi ,�;t4k.ci 4l, IN Iti g,i ti \ct+(-�.i �llr�tY� U,+�`�L 1)� s'ZZ y��ri,g �1��t��iaFV)tisl77G41�(♦ t±'��s4+;l;!r $ut�a`�hC�?Erlfi��{�": >>`,�fl k �.'' +3� Yfk�C� y€, , ,. r6`+�s�i `,°i�; + ve , irl Ax + Vi- S+t A , r. + + Page 18 of 30 ATTACHMENT "B" SURVEY OF BBCRA OWNED PROPERTIES AND DEWEY PARK Page 19 of 30 � � � � � � | OZ ATTACHMENT "C" PROPOSER(S) INFORMATION Name: Street Address: Mailing Address (if different): City, State, Zip: Telephone No. : Fax No: Email Address of Contact Person: Ownership Status - Is the company currently for sale or involved in any transaction to expand or to be acquired by another business entity? If yes, please explain the impact to the organization and management efforts. Age of Organization — In continuous business since: Leadership - List Corporate Officers, Principals, Partners or owners of your Organization with titles and addresses. If a publicly held company, list Chairman of the Board, CEO, and President: Federal Identification No.: State of Incorporation & Registration No.: If not a corporation, explain your status: Page 20 of 30 ATTACHMENT "D.1" DISCLOSURE AND AUTHORIZATION TO PERFORM CREDIT CHECK An authorization to Perform Credit Check will need to be completed by each Principal/Owner. For Principal/Owner: (Please use a separate form for each principal/owner) As Principal/Owner of Proposer, I (name) hereby affirm I have read the above disclosure, and consent to and authorize the Boynton Beach Community Redevelopment Agency's ("BBCRA") investigation into my credit worthiness. Such consent and authorization are given with respect to any and all persons who may conduct an investigation of my credit worthiness on behalf of the BBCRA, including independent contractors and credit agencies retained by the BBCRA for such purpose. Any information provided to the BBCRA is a public record subject to the provisions of Ch. 119 F.S., and I may request a copy of any information provided to the BBCRA as part of the BBCRA's investigation into my credit worthiness. I grant such consent and authorization to the BBCRA for the period commencing as of the date of this authorization and terminating at the time a Proposal is selected by the BBCRA Board. I hereby waive any and all claims, past present or future, which I may have against the BBCRA by reason of any credit investigation made pursuant to my consent and authorization herein given to the BBCRA. Proposer Name: Principal/Owner Name: Date of Birth: Current Home Address: Previous Home Address: Email: Phone#: Signature: Date: Print Name: Page 21 of 30 ATTACHMENT "D.2." AUTHORIZATION TO PERFORM CREDIT CHECK For Proposer (Business Entity): The Proposer hereby consents to and authorizes the Boynton Beach Community Redevelopment Agency's ("BBCRA") investigation into the credit worthiness of the Proposer. Such consent and authorization are given with respect to any and all persons who may conduct an investigation of the proposer's credit worthiness on behalf of the BBCRA, including independent contractors and credit agencies retained by the BBCRA for such purpose. Any information provided to the BBCRA is a public record subject to the provisions of Ch. 119 F.S. Proposer grants such consent and authorization to the BBCRA for the period commencing as of the date of this authorization and terminating at the time a proposal is selected by the BBCRA Board. This proposer hereby waives any and all claims, past present or future, which the proposer may have against the BBCRA by reason of any credit investigation made pursuant to proposer's consent and authorization herein given to the BBCRA. An authorization to Perform Credit Check will need to be completed by each Principal/Owner and by the Business. Proposer (Business) Name (D/B/A if applicable): Current Business Address: Federal Tax ID# State of Incorporation: Phone#: Fax#: Authorized Signature: Date: Print Name: Title: Page 22 of 30 ATTACHMENT "E" CITY OF BOYNTON BEACH PLANNING AND DEVELOPMENT DEPARTMENT FORM Proposer(s): _ has met with the City's Planning& Development Department to review the development that will be proposed within the 115 N. Federal Highway Block consisting of the following addresses and Property Control Number(s): Attachment "A" Property Addresses (check all applicable) Property Control Numbers ❑ BBCRA-owned Parcels 508 E. Boynton Beach Boulevard 08434528030010060 NE 1St Avenue 0843452803001 01 00 NE 4th Street 0843452803001 0080 115 N. Federal Highway 08434528030060010 ❑ #1 510 E. Boynton Beach Boulevard (Ace) 0843452803001 0030 ❑ #2 217 N. Federal Highway (S&F Properties) 08434528030010010 ❑ #3 209 N. Federal Highway (Camalier) 08434528030010121 ❑ #4 101 N. Federal Highway (Rajas Family Investments, Inc.) 08434528030060130 ❑ #5 500 Ocean Properties, LLC (Oyer) 511 E. Ocean Avenue 084345280300601 00 515 E. Ocean Avenue 08434528030060111 529 E. Ocean Avenue 084345280300601 20 General Summary of Proposed Mixed Use Development (check all applicable): ❑ Approximate Gross Area of Non-residential/Commercial Uses s.f. ❑ Approximate Total Number Market Rate Residential Units ❑ Total # Rental Units ❑ Total # For Sale/Condo Units_ ❑ Approximate Total Number of Workforce Housing Units ❑ Total # Rental Units ❑ Total # For Sale/Condo Units ❑ Other Uses Approximate Overall Height feet Approximate Number of Stories Approximate Total Parking Spaces (including additional Public Parking Spaces) Pre-development/Entitlement Applications (check all applicable): ❑ Future Land Use Amendment ❑ Rezoning ❑ Conditional Use for ❑ Site Plan Approval ❑ Replat ❑ Other City of Boynton Beach Planning & Development Dept. Staff Name/Signature: _ Date: Page 23 of 30 ATTACHMENT"F" PROPOSED PROJECT FUNDING USES AND SOURCES INFORMATION Project Uses and Sources Land Costs - Soft Costs - Construction Costs - Carrying Cost/Financing Costs - Marketing and Sales Costs - Permit and Impact Fee Costs - Developer Overhead and Profit - Total Project Cost - Capital Stack Proposer/Developer Equity $ - Outside Capital Investor Equity $ - Mortgage or Financed Amount $ - Amount of BBCRA contribution requested, if any $ - Other funding as identified $E- - Funding Total $ - Page 24 of 30 ATTACHMENT "G" AUTHORIZATION FOR RELEASE OF INFORMATION To whom it may concern: The undersigned hereby authorizes you to release to the Boynton Beach Community Redevelopment Agency(BBCRA)or the City of Boynton Beach any information in your possession regarding the undersigned either of a professional credit or personal nature including the statement of your opinions with regard to the undersigned's professional credit and personal character, or of the proposer identified below. The undersigned also authorizes you to release to the Boynton Beach Community Redevelopment Agency(BBCRA)or the City of Boynton Beach any information in your possession regarding the business identified as "Proposer" below. By: Print Name: STATE OF FLORIDA COUNTY OF PALM BEACH THE FOREGOING INSTRUMENT was acknowledged before me this day of 20 , by who is personally known to me or who has respectively produced as identification and did not take an oath. Notary Public: Print Name: Commission No: (Seal) My Commission Expires: Page 25 of 30 ATTACHMENT "H" ADDENDA ACKNOWLEDGEMENT Receipt is hereby acknowledged of the following addenda to the The Boynton Beach Community Redevelopment Agency Request for Proposals and Developer Qualifications 115 N. Federal Highway Infill Mixed-Use Redevelopment Project By entering checking YES or NO in the space provided and indicating date received. No. 1 ❑ Yes ❑ No Date No. 2 ❑ Yes ❑ No Date No. 3 ❑ Yes ❑ No Date No. 4 ❑ Yes ❑ No Date No. 5 ❑ Yes ❑ No Date RFP/RFQ INFORMATION WAS OBTAINED FROM: ❑ BBCRA Website ❑ Newspaper Ad ❑ City Hall ❑ Other, please specify: Authorized Signature Print Name Title Date Page 26 of 30 ATTACHMENT"I" PUBLIC ENTITY CRIMES STATEMENT A person or affiliate who has been placed on the convicted vendor list following a conviction for public entity crime may not: Submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; submit a bid proposal, or reply on a contract with a public entity for the construction or repair of a public building or public work; submit bids, proposals, or replies on leases of real property to a public entity; be awarded or perform work as a contractor, supplier,subcontractor or consultant under a contract with any public entity;or transact business with any public entity in excess of the threshold amount provided in Section 287.017, Florida Statutes, for CATEGORY TWO for a period of thirty-six (36) months following the date of being placed on the convicted vendor list. As the person authorized to sign the Statement, I certify that proposer has not been placed on the convicted vendor list within the past 36 months and complies fully with the above requirements. Proposer Name Authorized Signature Print Name Title Date Page 27 of 30 ATTACHMENT"J" CERTIFICATION OF DRUG FREE WORKPLACE PROGRAM I certify that the proposer responding to this RFP/RFQ maintains a drug-free workplace program, and that the following conditions are met: (1) Proposer publishes a statement notifying employees that the unlawful manufacture, distribution, dispensing, possession, or use of a controlled substance is prohibited in the workplace; and specifying the actions that will be taken against employees for violations of such programs. (2) Proposer informs employees about the dangers of drug abuse in the workplace, the company's policy of maintaining a drug-free workplace, any available drug counseling, rehabilitation, and employee assistance programs, and the penalties that may be imposed upon employees for drug abuse violations. (3) Proposer gives each employee engaged in providing the commodities or contractual services included in this RFP a copy of the statement specified in Subsection (1). (4) In the statement specified in Subsection (1), proposer notifies the employee that, as a condition of working in the commodities or contractual services covered under this RFP/RFQ, he/she will abide by the terms of the statement; and will notify the employer (proposer) of any conviction of, or plea of guilty or nolo contendere to any violation of Chapter 893 or any controlled substance law of the United States or any state, for a violation occurring in the workplace no later than five (5) days after such conviction. (5) Proposer imposes a sanction on, or requires the satisfactory participation in a drug abuse assistance or rehabilitation program if such is available in the employee's community by, any employee who is convicted. (6) Proposer makes a good faith effort to continue to maintain a drug-free workplace through implementation of this Section 287.087, Florida Statutes. As the person authorized to sign the statement, I certify that proposer complies fully with the above requirements. Authorized Signature: Date Name &Title (typed) Page 28 of 30 ATTACHMENT"K" CERTIFICATION OF NON-SCRUTINIZED COMPANY , as proposer, hereby certifies that it is not on the Scrutinized Companies that Boycott Israel List created pursuant to Section 215.4725, Florida Statutes, and is not engaged in a boycott of Israel. If the BBCRA determines that this certification is falsified or contains false statements, or that proposer is placed Scrutinized Companies that Boycott Israel List or engages in a boycott of Israel after the submittal of the proposal or the execution of any Agreement arising out of this RFP/RFQ, the BBCRA may disqualify the Proposal and/or terminate the Agreement. Proposer Name By: Authorized Representative of Proposer Date: STATE OF COUNTY OF SWORN TO and subscribed before me this _ day of , 20 , by . Such person (Notary Public must check applicable box): [ ] is personally known to me [ ] produced their current driver license [ ] produced as identification. (NOTARY PUBLIC SEAL) Notary Public (Printed, Typed or Stamped Name of Notary Public) Page 29 of 30 ATTACHMENT"L" ACKNOWLEDGMENT LETTER PROPOSER(S) SHALL INCORPORATE THIS ACKNOWLEDGEMENT LETTER IN THEIR SUBMITTAL PACKAGE ***************************************************************************** Re: Boynton Beach Community Redevelopment Agency Request for Proposal/Request for Qualifications (RFP/RFQ) dated July 23, 2021 115 N. Federal Highway Infill Mixed-Use Redevelopment Project To Whom It May Concern: The undersigned has read the Boynton Beach BBCRA(BBCRA) Request for Proposal/Request for Qualifications (RFP/RFQ) for the 115 N. Federal Highway Infill Mixed-Use Redevelopment Proiect, dated July 23, 2021. On behalf of proposer identified below and our proposal team,we agree to and accept the terms, specific limitations, and conditions expressed therein. We have read, rely upon, acknowledge and accept the BBCRA's disclosure and disclaimer, which is fully incorporated by reference into this letter, and certify that all of the requirements as described in the RFP/RFQ are met and all required documents are enclosed. We further certify that all information presented in this proposal, and all of the information furnished in support of the proposal, is true and complete to the best of our knowledge and belief, and we are aware of the fact that making false statements or presenting false information that results in an Agreement may be penalized to the maximum extent allowed by law. Sincerely, Name of Proposer Print Name and Title Authorized Signature Date Page 30 of 30 w,*aBEACHA,,..,RA ADDENDUM NO. 1 TO REQUEST FOR PROPOSALS AND DEVELOPERS QUALIFICATIONS (RFP/RFQ) 115 N. FEDERAL HIGHWAY INFILL MIXED-USE REDEVELOPMENT PROJECT August 26, 2021 TO ALL PROPOSERS AND OTHERS CONCERNED The Boynton Beach Community Redevelopment Agency (BBCRA) has issued a Request for Proposals and Developer Qualifications (RFP/RFQ) for the acquisition and redevelopment of various BBCRA owned parcels including 115 N. Federal Highway, Boynton Beach, Florida, adjacent parcels for which the BBCRA has secured the property owners' consent to include in this RFP/RFQ and which the BBCRA anticipates owning prior to project commencement, and other parcels not owned or controlled by the BBCRA, as referenced and identified on Attachment "A" Aerial Map/Parcel Map of the RFP/RFQ, hereinafter collectively referred to as the"Project Site." The intent of this RFP/RFQ Addendum is to provide supplemental information or provide clarification when requested. Proposers submitting proposals for the above-referenced project shall take note of the following changes, additions, deletions clarifications, etc., to the RFP/RFQ which shall become a part of and have precedence over anything shown or described otherwise. Question #1: In reviewing the RFP/RFQ, where the attached appraisal was provided and where the RFP states, "The property being offered (including the parcels the BBCRA is in the process of negotiating acquisition) is approximately 2.28 acres."Can you confirm that the Oyer property is part of the 2.28 acres and that the targeted date for closing on the Oyer property would be completed before the submission due date of October 19th? And also does that include the Bradley Miller property? Does the CRA anticipate that both of those properties would be available for the Proposers to include?And is there an anticipated value that the CRA will require as a minimum to bring both of those properties into this development? Answer. The 511, 515, and 529 E. Ocean Avenue (Oyer property), BBCRA owned properties, and 508 E. Boynton Beach Boulevard(Miller property), excluding adjacent alleys and road right-of- ways, total approximately 2.28 acres based on the survey provided and information indicated on the Palm Beach County Property Appraiser's website. A boundary survey for the Miller and Oyer properties will not be available until after closing. The contracted price for the Miller property at 508 East Boynton Beach Boulevard is$915,000. The BBCRA has performed its due diligence and the property will be conveyed to the BBCRA unoccupied. The BBCRA anticipates that the closing will proceed as scheduled on November 11, 2021 thus available to be included as part of this development. The Oyer property, 511, 515, and 529 E. Ocean Avenue, is appraised at $3.4 Million. The BBCRA Board agreed to a purchase price of$3.6 million and directed staff to enter into negotiations for a Purchase and Sale Agreement with a target closing date by the end of the year. The inclusion of this property into the development is subject to the completion of the BBCRA's due diligence which cannot occur until there is an executed Purchase and Sale Agreement. 01531443-1 1 Addendum No.01 Please refer to Paragraph 13, RFP/RFQ Proposal Evaluation and Selection Process, for information regarding the anticipated value of the properties as it relates to the overall quality of the development. Question #2: Please provide a copy of the lease agreement for Hurricane Alley with confirmation that all terms will remain the same with the CRA and eventually with Master Developer? Answer: The lease agreement for Hurricane Alley will not be available to the BBCRA until a Purchase and Sale Agreement between the BBCRA and 500 Ocean Properties, LLC is executed and due diligence commences. The BBCRA is unable to confirm any aspect of the terms of the lease at this time. Question#3: The parcel shown as#4, owned by the Raja Family Investments, is that property considered to be acquired by the CRA? Answer: The BBCRA has not received any direction from the Board to pursue acquisition of the referenced property. Question #4: What are the setbacks and height restrictions that are in place along the Federal Highway and Ocean Avenue frontages where retail uses will be located? Answer: This property is within the Urban Commercial Overlay, and would need to meet the overlay guidelines in addition to the underlying zoning district requirements. The guidelines require a pedestrian zone made up of three different components along Federal Highway and Ocean Avenue including: a street tree area zone of about five feet, a publicly accessible sidewalk that is ten feet wide, and a pedestrian zone (i.e. commercial, outdoor dining) that is another eight feet. All of these are measured from back of the curb inward into the property. The only additional height standard within the Overlay is a maximum height of 45 feet along Federal Highway then a step back in the building of about ten feet. After that ten feet, it is permitted to go under whatever the underlying zoning district permits. Question #5: There is a right of way between Ace Hardware and the CRA owned property, is that right of way part of the development or could it become part of the development? Answer: Abandonment of the 20' wide road right-of-way (Plat Book 1, Page 23) between the CRA property and 510 E. Boynton Beach Boulevard Property(Ace Hardware) is subject to review and approval by the City of Boynton Beach. If approved, only the portion between the Miller property and the BBCRA property may be incorporated in its entirety into the development. With respect to the right-of-way along Ace Hardware's property, depending on how the right-of-way was dedicated, only the southern half of the abandoned right-of-way may be incorporated into the development. Question #6: When Proposers submit a plan to the planning department for review, will they have the chance to have other disciplines/groups such as the City's Utilities Department weigh in on the plans? 01531443-1 2 Addendum No.01 Answer. The RFP/RFQ does not require Proposers to submit a full site plan. If Proposers would like to know the feasibility of their development, the BBCRA encourages Proposers to contact City staff and ask for a pre-application or pre-review before submittal. It is up to the Proposers at their discretion to do their due diligence. If additional approvals are required such as variances, conditional uses, code amendments, etc., those processes should be identified and addressed in the proposal. Proposers will still need to go through the City processes to do the formal review for the site plan approval processes. Please contact Amanda Radigan, Principal Planner, (RadiganA@bbfl.us), to coordinate an informal pre-application meeting with the City's development review team. Question #7: Please provide an estimated budget or value range for this project? Answer. The project budget or cost will not be available until the successful developer is selected by the BBCRA Board and a Purchase and Development Agreement is executed by both parties. Question #8: Does the CRA require union participation in your projects? Answer. No. Question #9: Do the CRA release planholder's lists for your projects? If so, please provide a copy. Answer. There is no planholder's lists for this RFP/RFQ. Interested parties who have registered to receive information concerning the project are provided in the response to Question #10 below. Question #10: Please provide a list of all registrants. Answer. The following entities/individuals have registered as of the publication date of this Addendum: • Bob Moser- Rvi Planning +Landscape Architecture • Mark Hefferin, Kelley Hefferin, Antonio Balestried, and Ogla Corrada - E2L Real Estate Solutions, LLC • Michael Haller- Concord Eastridge, Inc. • Jeff Burns-Affiliated Development • Louis Puma-Affiliated Development • Maxwell Van Arnem, Harold Van Arnem and Bill Morris- Ocean Ave Residences and Shoppes, LLC • Ted Leshinski- Keith Team • Jordan Thaler- Hyperion Development Group • June Jean- Stateland Brown Holdings • Tim Carey • Valerie Pleasanton • Barbara Ready 01531443-1 3 Addendum No.01 • Traci Scheppske— WGI A video recording of the August 19, 2021 Voluntary Pre-submission Meeting is available on the BBCRA website, https://www.boyntonbeachcra.com/Home/Components/RFP/RFP/10/80. END OF ADDENDUM No. 1 01531443-1 4 Addendum No.01 BOYNTON wvNWBEACHI RkuAlk ADDENDUM NO. 2 TO REQUEST FOR PROPOSALS AND DEVELOPERS QUALIFICATIONS (RFP/RFQ) 115 N. FEDERAL HIGHWAY INFILL MIXED-USE REDEVELOPMENT PROJECT September 24, 2021 TO ALL PROPOSERS AND OTHERS CONCERNED The Boynton Beach Community Redevelopment Agency (BBCRA) has issued a Request for Proposals and Developer Qualifications (RFP/RFQ) for the acquisition and redevelopment of various BBCRA owned parcels including 115 N. Federal Highway, Boynton Beach, Florida, adjacent parcels for which the BBCRA has secured the property owners' consent to include in this RFP/RFQ and which the BBCRA anticipates owning prior to project commencement, and other parcels not owned or controlled by the BBCRA, as referenced and identified on Attachment "A" Aerial Map/Parcel Map of the RFP/RFQ, hereinafter collectively referred to as the"Project Site." The intent of this RFP/RFQ Addendum is to provide supplemental information or provide clarification when requested. Proposers submitting proposals for the above-referenced project shall take note of the following changes, additions, deletions clarifications, etc., to the RFP/RFQ which shall become a part of and have precedence over anything shown or described otherwise. Question #1: Will the city of the awarded GC be responsible for the materials testing and inspections on this project? Answer: The BBCRA will be awarding the contract to a developer who will be responsible for hiring a General Contractor or Builder to work on the project if they do not have the expertise in- house. Question #2: Does Ms. Shutt need to be informed in writing when a proposer meets with City staff about the project? Answer: CRA and City staff have coordinated in advance of the RFP/RFQ issuance. Planning and Development staff is aware of the project so interested parties may contact City of Boynton Beach Planning and Development staff directly for a meeting. Below are their phone numbers. Mike Rumpf, Planning and Zoning Administrator 561-742-6374 Amanda Radigan, Principal Planner 561-742-6256 1 01531443-1 Addendum No.02 Sections 3, 12, List of Attachments, and Attachment "B" in the RFP/RFQ is hereby amended to state: (The underlined language below indicates language that is added. The .0rikeeit language below indicates language that is deleted). 3. Survey and Appraisal An aerial boundary and parcel map along with a copy of the property survey is included with this RFP-RFQ as Attachments "A," Aerial Map/Parcel Map and "B," Survey of BBCRA Owned Properties, Properties which the BBCRA currently has an executed contract to purchase, and Dewey Park. All appraisals and surveys of the subject properties that make up the Project Site are available or will be provided upon the BBCRA's acquisition in electronic form on the BBCRA's website, https://www.boyntonbeachcra.com/business-development/rfps-rfgsitbs. Proposers should not rely solely on the information in the appraisal when compiling the financial components of a proposal. The appraised value of BBCRA properties should be considered by proposer(s) in the offering price and request for BBCRA incentives. 12. RFP/RFQ Documents Provided The following planning and site documents are considered part of this RFP/RFQ and may be obtained from the BBCRA office or htti2s://www.boyntonbeachcra.com/business-development/rfps-rfgs-itbs. • Survey of BBCRA Owned Properties, Properties which the BBCRA currently has an executed contract to purchase, and Dewey Park (provided as Attachment "B") • Phase I and/or Phase II Environmental Reports(including 508 E. Boynton Beach Boulevard 9/13/21 Phase 11 Environmental Site Assessment) • Property Appraisals • 2016 Boynton Beach Community Redevelopment Plan In addition, all proposers are encouraged to walk the area surrounding the Project location and it will be assumed that each proposer has performed all necessary visual inspections on the property. List of Attachments: A. Aerial Map/Parcel Map B. Survey of BBCRA Owned Properties, Properties which the BBCRA currently has an executed contract to purchase, and Dewey Park C. Proposer Information D. 1. Authorization to Perform a Credit Check (personal) 2. Authorization to Perform a Credit Check (business entity) E. City of Boynton Beach Planning and Development Department Meeting Verification Form F. Proposed Project Funding Uses and Sources Information G. Authorization for Release of Information H. Addenda Acknowledgement I. Public Entity Crimes Statement J. Drug Free Workplace Certification K. Certification of Non-Scrutinized Entity L. Acknowledgment Letter 2 01531443-1 Addendum No.02 ATTACHMENT "B" SURVEY OF BBCRA OWNED PROPERTIES, PROPERTIES WHICH THE BBCRA CURRENTLY HAS AN EXECUTED CONTRACT TO PURCHASE, AND DEWEY PARK Please note that Attachment "B"has been replaced in its entirety and the.dwg file will be uploaded on the BBCRA website by 5:00 P.M. Monday, September 27, 2021. END OF ADDENDUM NO. 2 3 01531443-1 Addendum No.02 4 - - _ o dO'w< a00�.�, - _ __"'g _ _ _ _ - - _ Sm vgo - - - - - ¢pyo Z a Q Z LL O O l m mYv - -okv.- - :�.`aa � - - ZZZ - Oo 0 pyO o a - - - - O¢F z y -t-- ,oµ--- ----- - li moo,„a- �mE oo .�T J—oJ ----- - vo-EAST BOVNT ON BEACH BOULEVARD-1SwTATE ROAD 804) E /T( ar./w MPP. i/z�%LWOI L I § O 8 J § N 80 a rv8 m Om m m II � # LL � w e 1 B o I I I I - I o - -- m s I -- - - e m 67, _ a r �LON� 0 0 Im 4 m 61 - �' o ,o sP m s o �m = ' I w a� o r s � o 5 0 a m s NE 1st AVENUE o e,, .sem � 40 1ue51/ Po Ll 21 o m 0- it -x g m m ¢� p= o^ O _ a= o �y gv re/( /i.Pacre o o'T I I s I eea I I s I et d \ �5a > �o� o• € Mg & m I isl. ul m s e a o - U I Q- d o - �` Q �P o N � W _ J3 a o e / p gnu a.m p o " m EAST OCEAN�AVENUE R�`o I I BLOCK 7 TOWN OF 60YN7DN �o r.rea zrse�es°'=.e.eziLL I I I, 'I I mm oe/e3a �IAtl iiiiiBEACHIKIA� ADDENDUM NO. 3 TO REQUEST FOR PROPOSALS AND DEVELOPERS QUALIFICATIONS (RFP/RFQ) 115 N. FEDERAL HIGHWAY INFILL MIXED-USE REDEVELOPMENT PROJECT October 4, 2021 TO ALL PROPOSERS AND OTHERS CONCERNED The Boynton Beach Community Redevelopment Agency (BBCRA) has issued a Request for Proposals and Developer Qualifications (RFP/RFQ) for the acquisition and redevelopment of various BBCRA owned parcels including 115 N. Federal Highway, Boynton Beach, Florida, adjacent parcels for which the BBCRA has secured the property owners' consent to include in this RFP/RFQ and which the BBCRA anticipates owning prior to project commencement, and other parcels not owned or controlled by the BBCRA, as referenced and identified on Attachment "A" Aerial Map/Parcel Map of the RFP/RFQ, hereinafter collectively referred to as the"Project Site." The intent of this RFP/RFQ Addendum is to provide supplemental information or provide clarification when requested. Proposers submitting proposals for the above-referenced project shall take note of the following changes, additions, deletions clarifications, etc., to the RFP/RFQ which shall become a part of and have precedence over anything shown or described otherwise. Question#1: Is there any unused density associated with Dewey Park that can be used for additional units in the proposed development? Answer: No, Dewey Park currently is described as a passive recreational amenity adjacent to the project. In order to allocate density to the parcel and combine it with this project, changes in land use and/or zoning would be required, which would need to be approved by the City. Question#2: I understand there was a response to the question of whether the Oyer property can be included in the RFP response. I believe the answer was yes, however the last part of the response was a little confusing. With regard to the red portion, does this mean we cannot include this property into the response until the BBCRA's due diligence is completed and there is an executed PSA?"The Oyer property, 511, 515, and 529 E. Ocean Avenue, is appraised at$3.4 Million. The BBCRA Board agreed to a purchase price of $3.6 million and directed staff to enter into negotiations for a Purchase and Sale Agreement with a target closing date by the end of the year. The inclusion ion of this ropef' into the development is subject to the completion of the BBCRA'vw due diligence which cannot occur until there is an executed Purchase and Sale Agreement." Answer: The Oyer property may be included in a proposal pursuant to Section 10.f of the RFP/RFQ. 1 01546952-1 Addendum No.03 Question#3: Can you please resend a link for the Impact Fees? The link in the RFP does not seem to work. Answer: Please see the link below: ht!ps.11discover.pbcgov.oLq1pzbladminstratiopl _ es/f act- ee. s x Question#4: Is there a pre-registration prior to the October 19th deadline that we can register our organization to be able to submit an RFP? Answer: Please see Section 7 of the RFP/RFQ for registration information. Question#5: On the proposal itself, what should we list as the price for the land, should it be the $3,400,000 or is the land free? Answer: Please see Sections 10J,j, 1, and m of the RFP/RFQ. Question#6: With the understanding that the Oyer and Bradley properties are under Purchase and Sales agreements based on Addendum #2 map, can we obtain a copy of both agreements for our review to confirm specific conditions and confirmed timing to close? Answer: Please see the attached fully executed Purchase and Sale Agreements for both the 511, 515, and 529 E. Ocean Avenue and the 508 E. Boynton Beach Boulevard properties. Question#7: Based on the revised property maps we understand the city currently has 3.581 acres of property to support the master development. This includes the City Dewey Park and Right of Ways as shown on attached highlighted map. Based on current and future zoning calculations of 80 units per acre this would indicate maximum of 286 units. Please confirm this is correct without any workforce housing bonus which would require a minimum of 25% of the units to be designated for 80-140 AMI for Boynton Beach area per section 9.a. of the RFP? In furtherance, we wanted to include hatched project area showing inclusion of dedications from ROW's to illustrate our master site density contributing land. Answer: Confirmation of total unit count for a proposed development needs to be obtained from the City of Boynton Beach. Question#8: Is the CRA eligible to extend its sunset date beyond 2044 to recover additional TIF money's that could be possibly used to support the developments parking requirements? Answer: No. Question#9: Are there appraisals available for 510 E Boynton Blvd, 217 N Federal Highway, 209 N Federal Highway and 101 N Federal Highway? They are not available on the BBCRA website. Answer: The appraisal for 209 N. Federal Highway is attached. The BBCRA does not have appraisals for 510 E. Boynton Beach Boulevard, 217 N. Federal Highway, and 101 N. Federal Highway. These were not included as part of the RFP/RFQ documents since the BBCRA was either not under contract for the properties, or Board approval of the offer price was not given for these properties. 2 01546952-1 Addendum No.03 Question#10: Section 9a, of the RFP is in reference to affordability. Where can we receive more specific information about what would be deemed affordable rents for these AMI levels described in the RFP?And what percentage of the affordable units would need to comply with the moderate income range vs. the middle income range? Answer: Please contact the City of Boynton Beach Planning and Development Department for the affordable rents for the Boynton Beach AN levels. The RFP/RFQ does not have a required percentage of affordable units for the moderate or middle income ranges. Sections 12 is hereby amended to state: (The underlined language below indicates language that is added. Thetau language below indicates language that is deleted). 12. RFP/RFQ Documents Provided The following planning and site documents are considered part of this RFP/RFQ and may be obtained from the BBCRA office or hts:// . ytoneachcra.co /business-develop ent/rfps-rfgs-itbs. • Survey of BBCRA Owned Properties, Properties which the BBCRA currently has an executed contract to purchase, and Dewey Park (provided as Attachment "B") • Phase I and/or Phase II Environmental Reports(including 508 E. Boynton Beach Boulevard 9/13/21 Phase 11 Environmental Site Assessment and Confirmatory Groundwater Sampling Report for the CRA Property in the vicinity of 115 N. Federal Highway) • Property Appraisals • 2016 Boynton Beach Community Redevelopment Plan In addition, all proposers are encouraged to walk the area surrounding the Project location and it will be assumed that each proposer has performed all necessary visual inspections on the property. END OF ADDENDUM NO. 3 3 01546952-1 Addendum No.03 PURCHASE AND SALE AGREEMENT This Purchase andl nt( rei r" )Is made and entered Into s of the Effective (hereinafter defined), by and between BOYNTON BEACH REDEVELOPMENTlic agency created pursuant Chapter 163, Part Ill, of the Flora s (hereinafter "PURCHASER") and SOD Ocean Properties, LLC (hereinafter 'SELL "). In consWeration of the mutual covenants ande in set forth,the Parties hereto agree as fol . PUKHASE A11D j&W&BQP= ll and convey PURCHASER andu nd acquire from SELLER, an the terms andn hereinafter , the Properties Wated In Pal Beach County, Florida (the aPropertlee) 9nd more particularlydescribed ll Lot 10 and the West 7 feet 8 Inches of Lot 11, Less the South 8 feet (Ocean Avenue R/", Block 4 TOWN OF BOYNTON, according to the plat thereof,as recorded In Plat Book X Page 23, f the Public records of Palm BeachCounty,Florida And Lot 11, Less the West 7 et 8 Inches,Less the South 8 feet Avenue ), ,according to the plat thereof,as recorded In Plat Book 1,Page 23,of the Public Records of Palma ,Florida. And Lot 12, Block 6, ORIGINAL TOWN OF BOYNTON, accordingthe plat thereof, recorded in Plat Book 1, Page 23, of the Public Records 'Peachun ,Florida. Property Address: 51L 513% and Sn East 1. PURCHASE PRICE u r the Property shah illn Sbc Hundred ThousandIla ( ), payable in cash, by wire transfer oU nited States Dollars at the Closing. initials: SEMER's Initials: =,;7,F Purchase and Sale Agreement Pap 2 of 17 3. DEPOSIT. 3.1 Eafflest MopftJkgMN. in five( )Business Days after the execution of the Agreement by both parties, PURCHASER shall delver to Lewis, Longman&Walker, P ( ne) a deposit in the amount of Fifty ThousandIla ($%000.00) ( h "Initial Deposre). Provicling thisn Is inaterms , PURCHASHER shall deliver to Escrow Agent an additional deposit In the amount of One Hundred Thousand o! ( , on or before October 15t 2M1. The Initial Deposk and additional p sit are hereafter referred to a i . 3.2 AagilcoggoiDIshursemoi,,gf,,L)e2glit, The Deposit shall be applied an disbursed s follows: Providing this Agreement is not terminatedeither party pursuantthe terms set forth herein, Fifty Thousandit be releasedSELLER withinthe expiration of the Feasibility (hereinafter fine ). The remainingp shall be deliveredE a Closing, and the PU RCHASERsha II receive a credit for the Deposit againstPurchase ri . If this Agreement Is terminated duringthe Feasibility for any reason, the Depositshell be Immediately fun e PURCHASER. If this Agreement Is terminateda default, pursuant to Section 12,the Deposit shall be delivered to( r retained by,as applicable) on- f , and the non-defaulting Pa shall have such additional rights, If any, as are providedIn Section 3.3 Escrow Agent. PURCHASER andauthorke Escrow Agent to receive, deposit and hold funds in escraw and,subject to clearance,disburse them upon proper autharbAon and In accordance with Florida law and the of this Agreement The parties agree that Escrow AgentWill not be gableo for misdeliverV of escrowed PURCHASER andSELLER, unless misdelivery willful breach of this Agreement or gross negligence. If Escrow AgentInterpleads the subjectr Escrow Agent ill pay the filingand costs from the os n will recover reasonable attorney's fees and coststhe escroowed funs which are charged awarded as court costs in favor of the prevailingparty. All claims againstt will be a rbltrated, so long as Escrow Agents to arbitrate. 4. gFJ . E E The date of this Agreement( e Date ) shall be the date when t st one of the SELLER andPURCHASER has signed this Agreement. S. Q2$1M. The purchase and sale transaction contemplated herein shall dose o or before December 17, 2D21( a'Closing ), nle extended by written agreement,signed both parties, extending the Closing. However,In no event whomever shall the Closing r later than December 31, 2MI. 6. Tlyg]n E CQhIVEYED. At Closing, SELLER shalt convey tD PURCHASER, mmims PURCHASM Initials: , o-r SELLM I i : r Purchase and Sale Agreement Pap 3 of 1 Spedal Warranty Deed1 it the requirements of the1 nt(hereinafter defined), valid, a e b and lrisurable title In fee simple the Property,free and dear of any and all lens, encumbrances, conditions, easements, rl ions and other conditions except only the following(collectively, 'Permitted Exceptionsm): ( ) general real taxesestate and special assessments for the year of Closingn u uen t due and payable; ( ) covenants, conditions, easements, dedications, rlghts-of-waV and matters record Inducled on the Title Commitmentor shown on the Survey ( n In Section , to hich PURCHASER falls3 or which PURCHASER agrees to accept, pursuantSection 7.1 and Section 7.2 hereof. 7. FEASIBILITY PERIOD. The PURCHASER and Its designeesshall have from th Effective Date II November 1Z 2MI (aFeaslbilkV Parlocr), at PURCHASEWs expense, to make Inquiries which PURCHASER may deem necessarydetermine a suitable r Its Intended we and to enter upon Property, at anytime to time with reasonablenotice to SELLER and so long tresult In a business Interruption, to perform any and all physical tests, inspections, valuation appraisals and Investigations of the Property, Inducling but not limited to Phase i and Phase it Investigations. During this Feasibility Period, PURCHASER may elect, In C SE 's sole and absolute d1wation, to terminatethis Agreement and receive back theDeposit, provicied that PURCHASER es SELLER with written notice E ' s terminate the Agreement prior to time on the last day of the Feasibility Period. Soul PURCHASER fail to providei rior to 5:00pm Eastern time n the fine I day.of the Feasibility Period, PURCHASER will have waiveditterminate the Agreement pursuant to this , the II become non-refundable to PURCHASER(except In the event of a material default bV SELLER),and the parties shall proceed to Closing on the terms and conditionscontained in. If PURCHASERlterminate this Agreement in accordance with this Section, PURCHASER shall: (1) leave the Property in substantially the condition existing on the , subject to such disturbanceas was reasonably e sa or convenlent forte testing and Investigation of the PmpertV,(i1)to the extent practicable, shall repair and restom anya E ' testing and i n; a (Ii ase to SELLER, at no cost all reportsn h r work product generated as a result of the PURCHASERsIn Investigation. PURCHASER hereby es to Indemnify and hold SELLERharmless from and against all dalms, losses, expenses,s, man s and liabilities, Induclift but not limited to, amrney'sfees,for nonpayment for services rendered to P (Iniluding, without Imitation, any construction liens resultingtherefrom) or for damage to persons or property (subject the limitation on practicability ) arising out of PURCHASEWs. Investigation o the Property. However, PURCHASEWs Indemnification obligations shall ncot exceed Its statutorylimits of sovereignImmunity ithi n 768.28, Florida Statutes, and PURCHASER does not waive its sovereign Immunity h . ' obWlons under a ion shall survive the termination,expiration orClosing of this Agreement. 7.1 MII&YJIME, Within twenty( ) days of the Effective , PURCHASER shall obtain, at the PURCHASERsnse, from & Title Company chosen by PURCHASER PUC s l i i l SELLER's I I d � � 17 Purchase nd Sale Agreement Page 4 of7 (hereinafter l Ca pan ), a This Commitment sl t insure in the amount of the Purchase Price subjectonly to the Permitted Exceptions,together with completelegible all Instruments a s conditions r exceptions In Schedulethe Titlen ll assessments, outstanding utility charges, liens and other matters not constituting1 fns and that can b cured with the payment of moneyshall be paidr to or at closing from SELLEWs proceeds. PURCHASER shall examine the 'ritle Commitment and deliver written notice SELLER no later than thirty( )days after the Effective Daft notifying E any objections PURCHASERhas to the condition of tit (h r'Title Objections"). If PURCHASER falls to deliver the Title ObjectionsSEMER withint rt ,title shall be deemed accepted subject conditions set forth In the TitleCommitment. If PURCHASER timely delivers the Title Objections,then s either cure and remove the Mtle Objection(s) or provide notice to PURCHASER that SELLER will not cure such title J (hereinafter "Cure Period"). in the event that SELLER Is unable or unwilling to cure remove,and or cause to be cured and removed, the TitleObjections i the Cure Period, then PURCHASER, i 's sale and absolutediscretion, shall have the option o (1) accepting the title as it then Is and proceedingsin it reduction in the Purchase Price and all such Title Objections that SELLER dechnescure shall become Permitted Exceptions, or(ii) canceling andr fn i h In which ,the Deposit shall be returned to PURCHASER n the is shag her obligations or liability hereunder, except for those x i n of this Agreement. Should elect to accept the title s it then Is and proceed to Closing, i ll still be required all assessments, outstandingcharges, liens,and mortgages due and payables of the Closing. In no event shall SELLER be requiredto commence litigation to cure any title or surveydefect,encroachment,or encumbrance. Prior to the ClosingPURCHASER shall have the right to cause the Title Company to Issue an updated Title Commitment (ONe Ucovering the Property. If any Title Update ins any conditions that arose after the effective date of the title commitment and causedwere or allowed to occur by SELLER andwhich i r In theI nt, and such Items render title unmarketable, 5 shall have the right to object such new or different conditions in writingr to Closing. fl rights and objections of the Parties with respect objections rii hshall be the same as objections items appearing in the Titlef j s of this Section. 7. . 5urvey &_v1-. PURCHASER, at PURCHASER's expense, shall obtain current boundary u y (the ) of the Property, Indicating a number of acres comprising the Property to the nearest I/WMh of an acre. if the Survey disdoses encroachments n the Property or that Improvements located thereon encroach on setback lines, easements, Ins of others or violate ny restrictions, covenantsof this or applicable n l regulations, the same shall constitute a title fe and shall be governed the provisions of Section 7.1 con f Objections. ver, In no event shall S i commence litigation n title or survey :P of tPURCHASM InItIals: SELLER's Iii I : Purchase n Sale Agreement Page 5 of 17 encroach me nt,or encu mbrance. 7.3 SELLER Deliveries. SELLER shall deliver to PURCHASERfollowing n and Instruments withint (3) business days of the Effectiveof this Agreement, except as specifically I I . 7.3.1 Copies of lanes for all commercial and residential tenants ing the Property. 7. .2 Copies of any reports or studies (including en to rl environmental, soil borings, and other physical Inspection , in SELLEWs possession or control with respecte physical condition or operation of the ,If any. 7.3.3 Copies of all licenses, variances, iv , permits (including not limited to all surface water management permits, wetlands r lconsumptive use permits andvl n I resource permits), authorizations, and approvalsrequired law or by any governmental or private authorltyhaving jurisdiction r the Property,or any portion ( I Approvals"),which are material to the use or operation of the Prope rtV andin SELLEWs possession, any. 73A At Closing, shall execute and deliver to PURCHASER any and all documents and Instruments requiredPURCHASER,in PURCHASER's n absolute discretion, hich: (Q effectuate the transfer to PURCHASER of thoseov rn I or portions thereofis are applicable the Property, that PURCHASERdesires to have assigned o it, and/or ( ) cause the Property to be withdrawn from anyGovernmental Approvals. SELLER will not be requiredincur expenses to providesuch documentsan Instruments. o later than twenty ( prior to thei , SELLER shall remedy, restore, and rectify any and all violations r I Approvals (including, but not limited , any and all portions of the surface r management system, mitigation areas or other Items which do not comply with the Govemmental Approvals or applicable rules), if any. SELLER ns that there will not be, at thetime 11 any unrecorded Instruments affectingWe to the Property, Including but not limited any conveyances, easements, licenses r leases, CONDITIONS 1'0 CLOSING. PURCHASER shalln obligated to close on the purchasethe Property unlesseach of the following n ins(collectively,the "Conditions to 11 ) am either fulfilled or waived by PURCHASERIn writing: . . RegrespoWligarls and WarMM& All of the representations and warranties of SELLER containedin this Agreementshall be tnie and correct as of Closing. .2. physical condition of the Property shall b ,rrsPURCHASER's Initials. Initials: r Purchase and Sale Agreement Page 6 of 1 materially the some n the date of Closing s on the Effective Date, reasonable wear and tear excepted. 8.3. PendInA_ProMed1ng1, At Closing, there ll be no litliption, claim, action, or administrative agency or other governmental proceeding, of any kind whatsoever, Nether pending, actual, or threatened, that would affect the Property, which has not been disclosed,prior to CJosing, n C . s and Regulations. The Property shall be I compliance with all applicable federal, state andi laws, ordinances, rules, regulations, requirements,licenses,permits ando ions as af thedate of Closing. Property II y t t t time of Closing J on ®x leases referred to In Section 7.11 above. After the Effective t t,Sailer shall be permitted to renew existingleases affecting the Property provided that II such renewal leases provide the landlord a nine ) right of termination, do not exceed a term of one Veer from the date of renewai, and that any ternu whatsoever that differ from the current lease r thant lease expiration subject I or rejection by PURCHASER. 9. QDSINGePURCHASER ll prepare, or cause to be prepared, the Closing t forth In this Section, except for documents prepared by the PURCHASER'PURCHASER's Titlein shall execute anddeliver, or cause to be executed ei the following documentsInst (collectively, "Closing o n , . Japed. A Special Warranty Deed ( h ") conveying valid,good, marketable and insurablesimple title n r of all liens, encumbrances and other conditions of title otherthan the Permitteds. .2 121ler"s AffMlXks.121r" SELLER shall furnish to PURCHASER and Title Company a customary o n is affidavit attestingt @ bestof b knowledge,no Individual r entity has any claim i under the applicable llen i ; and that there are no partiesIn possession of the Property other then SELLER. SELLER shall also fumish non-foreignv . In the evet SELLER Is unable t 'de live r its affilaffild evits refers need above,the same shall be deeined an u neured title . Closingclosing n h the Purchase price, the II credits, adjustments and prorations. between PURCHASER andII costs and expenses to be paidat Closing, n net proceeds due SELLER,which PURCHASER shall so execute and deliver at Closing. OmAto Docuarn Documentationrequired r title to the GIMMS s ' Inithils. SELLEWs initial Purchase and Sale Agreement Page 7 of 17 Property f all liens,encumbrances and ,if any,otherthan otherPermitted 1 ns. .5. Add An1LQgg1M1= Suchr documents as PURCHASER or the Title Company may reasonably t that SELLER execute and deliver,and any other documents requiredis Agreement or reasonably necessafy In order to close this transaction effectuatetheterms of this . CLOSINGM EBQMONS,CLOSING GM AND rents,10.L Prorations. Assessments, Interest, Insurance and other expenses of the Property shall be prorated through theloi shall have the option of taking r existing policiesinsurance, assumable,In whichpremiums shall be prorated. Cash at Closing s ll be Increased or decreased as may be requiredr Ins throughto be made h r to Closing. Advance rentand security deposits,If any,will be credited . Taxes shall be proratedupon the current yeaes tax with due allowance r maximum allowable . ll comp with SectionIV Florida Statutes,with respect to the payment of prorated ad valorem taxes for the year of closing Into I II is Office. in the event that, following the Closing, l amount of assessedI pmperty tax an the Property for the current yearls higherthani used for purposes of the Closing, s shall re-prorate anyi r credited basedon suchestimate aslfpaid In r. This shall sufvIve the Closing. . . SRAGWI ROL Uens. Certified, confirmed and ratified special assessment liens imposed by publicl sin . Pending liens s of Closingshall be assumedPURCHASER. If the Improvement has been substantially completed as of the Effective Date, any pendinglien shall be consideredcertified, confirmed or ratified and SELLER shall, at ClosInL be charged an amountl to the last estimate r assessment for the Improvement by the public Closina Cost& PURCHASER shall be responsibler recordingII general closing expenses (settlement ur r fees, ovemight package, etc.), all title insurance expenses, documentary sumps an the deed, and any expenses associated PURCHASEWs financing. ill pay their respective attorney's fees. Otherthan SELLER yin r , PURCHASER and SELLER agme that the transaction contemplated this Agreement shall be"net"to the SELLER withyin II costs associated with the tra nsactio n other than SELLEWs a y's ure. PURCHASER shall fund the Purchase the credits, offsets andherein. C (as applicable)shall execute and deliver to ClosingClosing sin sh II, at of " PURCHASEWSI •a SELLER's i I • ``'' Purchase IAgreement Closing:Page 8 of 17 (1) disburse the sale proceeds to SELLER; (II) deliver the Closing Documentsn a 'marked-up"ntle Commitment to PURCHASER, andr, record the Deed and other recordable Closingin the appropriatepublic records. lflg, MoM&2A ApdAt Closing, shall obtain, or cause to be obtained, s fa r release of record of all mortgages, liens applicable c ri IL REPRESENTA11ONS, COVENANTS AND WARRANTIES OF SELLER. To induce PURCHASERr Into this Agreement, SELLER makes the following ,all of which,to the best of Its knowledge,in all material respects and except as otherwise provided in thW Agreement(1) are now true, and(IQ shall be true as of the date of the Closingunless receives Information to the contrary, and (III) shall survive the Closing. In that PURCHASER Ii be provided immediate notice to the following representations: 11 At all t s e Date until priorto Closing, shall keep the Property(whether before or after the date of Closing) clear of any mechanies or material n's liensfor work or materials fumished to or contracted for,by or on behalf of SELLER prior to the Closing,and SELLER shalll a fen and hold PURCHASER harmless from against allx nd Kablilty in connectiont (including,without limitation,co u rt costs reasonableand rn s ). 11.2 SELLER has no actual knowledge nor has SELLER received any notice litigation, i ,action or proceeding actual orh in r the Property by any organization,person,Individualorgovemmental agency which (as to anythreatened litigation,claim,action or proceeding,Ina materiallyv fashion)the use,o lue of the Property or any part thereaforwhicho otherwise relate 11.3 SELLERhas full power and authorityr Into this Agreement and assume and performobligations hereunder in this Agreement. SELLER does not and will not conflict it In the breach of any conditionor provision,or constitute a defaultunder,or result In the creation orImposition o lien,charge,or encumbrance upon th Property or assets of the SELLER by reason ofthe terms of any contract,mortgage,lien, s , agreement, Indenture, Ins r judgment to which the SELLER Is a party of which is or purports binding the SELLER or which effects the E ®no action by any federal,stow or municipal r other govemmental agency department, commission, board, bureau or Instrumentality necessaryto make thIsAgreementa valid Instrument bindinguponthe SELLER In accordance with its terms. 11.4 SELLER representsill not,between the AgreementandtheClosing,withoutr r t, lch consent shall not be unreasonably i I r delayed, except In the in st , create any r PURCHASEWS In t Is: SELLIEWS Purchase and Salet Page 9 of 1 encumbrancesnthe . For purposes of this provisionn "she II mean any liens, claims,options, or other encumbrances,encroachments, rights-of-way, leases, conditionseasements, covenants, or restrictions. Except for renewing existingleases In accordancewith Sectiona.5 hereof,SELLER represents thatSELLERill not,betweenthe Effective Datoof this Agreement and the Closing,take any action to terminate r material ,amend or alto r any existingto existance,withoutthe pdarconsentof PURCHASER,whichConsent shall not be unreasonablywilth held ordelayed. 1L5 SELLER represents that them rh In possession of the Property r any portion of the Property as a lessee othert clSection . . IL6 SEI IF shall use Its best efforts to maintaint Property In Its present condition so as to ensure that'll: shall remain substantially In the same condition from the conclusion the sl rt the Closing . IMENTIONALLY DELETED. representsJLLB SELLER that It has no actual knowledge nor has it received notice that the Property has been,is prose nfly or Is contemplatedui!ized as a reservoir of Hazardbus Material. As used herein,the term"HazardousI" shall mean any substance, water or material which has been determinedany state, federal or local government authority to be capable of posingrisk Injury to health,safety , Including not limited to,all of thoseIs,wastes and substances hazardous ortoxic by the U.S. Environmental Protection Agency, the U.S. Department of Labor,the U.S.Department of Transportation, an r any other state or local governmental agency now or hereaftr authorized to regulate materials and substances In I n (collectively " r I ut ( s)"). 11.9 SELLERthe Property is not subjectany dead restrictions or declaration of restrictionsrunning it the Property whichwould use of the Property exceptthoset Permitted ns as deflneclabwe. IL10 Between the Effective Date of this Agreement and the data of Closing, SELLER ill not file any application for a change of thezoning i# t' of the Property. M11 AMU The execution and deliveryh nt by SELLER and the consummation by SELLER of the transactioncontemplated this Agreementhi SELLEWS capackyn all requisite action has been taken to makethis Agreement valid and binding on SELLER in accordanceh Its terms.The person executing this Agreement an of SELLER has n duly authorizedn behalf of and to binds ,and this Agreement representsa valid binding ! of SELLER. wo i initialo, SELLEWs Initials: °., Purchase and Sale Page 10 of 17 11.12 Mle. SELLER Is and will be on the Closingowner of valid, , marketable and Insurable simple title to the Property, free and clear of all liens, encumbrances and restrictions of anykind, except the Permitted Exceptions whichencumbrances of record ill be dischargedt Closing). IL13 Addibanal Warranties and a I ��m w Inducement E enteringi this a nt, SELLER, to the best of SELLEWS Information ai ,hereby representsandwarrants the following: =111 Them are o pending applications, permits, petitions, contracts, approvals, or other proceedings with any governmental or quasi-governmental authority, Including limited , PURCHASER, municipalities, counties, districts, utilities, r federal or state agendas, concerninguse or operation , or title to the Property or any portion thereof not grantedor Is not obligatedInterest in the Propertyto any of the foregoing . 11.23.2 am no facts believedI to the use, 'condition and operationh Property in the mannerthathas been usecloroperated, i i has not disclosedU I Including limited unrecorded instruments or defectsin the f the Property whichill Impairthe use or operation of the Property f any manner. .3 The Property andthe use and operationthcompliance with all applic3ble countyl laws,ordinances,regulations,licenses,permits n authorizations, in ui limitation, IIcable- zoning and anvironimental laws and regulations. 12. . L PUBQd&SWs Default. In the event that this transaction fails to close due to a wrongful refusal to close r default on the PURCHASER,subject to the provisionsf Paragraph 12,3 below, the Depositl then being heldshall be paid bV Escrow Agent to SELLER liquidated s and,t r, i PURCHASER nor SELLER shall have any further obligation or liabilities n r this Agreement,except forthose expressly providedsurvive the termination of this Agreement,- , however, that PURCHASER shall also be responsibler the l of any lions assertedtte Property by persons claiming , through or under PURCHASER, but not otherwise. PURCHASER an SELLER acknowliadge that If PURCHASERfu ill suffer damages In an amount hick cannot be ascertainedh reasonable certaintyn the Effective Date and that the amount of the Deposit being held et most closely approximates the amount necessary to compensate SELLER. PURCHASER and SELLER agree that this Is a bona liquidated stn and not a penalty or forfeiture provision. '7PURCHASEWs Initials. SELLWs Inft �, Purchase and Sale Agreement Page 11 of 17 122. Seller's Default. In the event that SELLER shall fall to fully timely performany of its obligations or covenants hereunder or I any of SELLEW S representations untrue or Inaccurate, then, notwithstanding anything trary contained In this Agreement, PURCHASER may, at Its option: (1) declare SELLER In u under this Agreement by notice I' to SELLER, In which event PURCHASER may terminate demand that the Deposit be returned, Including all Interest thereon if any, In accordance with Section 3 and neither Party shall have any further rights hereunder, or specific performance of this Agreement without waiving any action for damages. Notice gf Rjftjft., r to declaring a dffkultnexercising the remedies in, the non-defoulting Partyshall Issue a notice of to the defaulting I the event or condition of default In sufficient detail to enablea reasonable n to determineion necessary to cure the default. The defaulting shall have tan ( ' days from deliverynotice duringthe default, , however,that as to a failureclose, the cure periodshall only be t ' ( )business the delivery of notice. Both parfles agree that N an extensionIs requestedas a result e u such extension shall not be unreasonablywithheld I t In no event shall the Closing er 31, 2021. if the default has not been cured within the aforesaid period, non-defoulting Party mayexercise the remedies described . Survival. The provisions of this section shall survive the termination this Agreement. 13. NOTICES. II notices 1 In this Agreement must be In writing and shall be consideredl'vered when receivedmail, return receiptr personal de live ry to the following addresses: If to Seller Christian Macovlak Oyer-Macovlak Insurance 531 East Ocean Boynton Beach,FL 33435 With a copy to: Harvey E. Oyerill h n,LLP 525 Okeechobee I . Suite 1 West Palm Beach,FL 33401 If to Purchaser: Thuy Shutt,Executive Director Boynton Beach Community veld t Agency IM E.Ocean Avenue, h Floor Boynton ,FL 615"aza PURCHASEWs Initials: SELLEWs InItialse, ��. r Purchase nd Sale Agreement Page 12 of 1 With a copy : Kenneth Longman a1 r, PA 360 S.Rosemary Avenue Suite West Palm Beach,Fl.33401 JA BINDING-.,M.OBLIGATION/ASSIGNMENT.� _ The terms andconditions of this Agreement hereby made bindingon, and shall Inure to the benefitso and permitted assigns of the Parties hereto. SELLER may not asswn Its Interest In is Agreement without the prior written consent of PURCHASEki ll not be unreasonably h . PURCHASER II have the right to assign this Agreement to the City of Boynton Beach (the "City") without the prior consent of SEU.ER andthe PURCHASER shall be releasedfrom any further It 1 liabilities r this Agreement. The PURCHASER may not assign this Agreement to any other party withoutprior written approval of SELLER, which shall not unreasonably ith I . If PURCHASER has been dissolved as an entity while this Agreement and/or the attached Lease AgreementIn effect,the to of section ),FlorWa Statutes,js it may be amendedtime i ,shall 15. BROKER _FEES._ The SELLER and PURCHASER hereby gets that they have not dealt with a l estate broker In connection with the tranrAcdon contemplatedi nt and are not liable r a sales commission.SELLER and PURCHASERr t I Indemnify, defend i each r from and againstn all claims, s. damages, costs or expenses (Including, u limitation, attorneys ) of any kind arisingu or resulting from any agreement,arrangement or understanding alleged to have been made with any broker or finder claiming through the Indemnifying party In connectbn with this Agreement. The provisionsthis Section shall survive Closingr termination of this Agreement. 16. I TLC IAL For purposes of thisAgreement, pollutant ("Poll ") shall mean anv hazardous or toxic substance, material, or waste of anykind or any contaminant, pollutant, petroleum, petroleum productor petroleum by-products defined or regulated environmental laws. Disposal ("Disposal") shall mean the release, , handlIng, discharge, or disposal of such Pollutants.Environmental lam(uEnvilronmental ")shall mean any applicable federal, state, or local laws, statutes, ordinances, les, regulations or other governmental restftlonL 16.L1 As a material Inducement to PURCHASER entering Into this Agreement, SELLER hereby warrants and represents the following,asappIl . ( SELLER and occupants obtained n In full compliance with anyand all permits regardings I I on thePropertV or contiguousowned by SELLER,to the best of SELLER'S knowledge. ainorms PURCHASEFrs Initials- SEU.Effs In tl Purchase and Sale t Page 13 of 7 (2) SELLER is not awarenor does It have any notice of any past,present orfuture e , iti itis or practices which may give rise to any liability r form a basisr any claim, demand, cost or action relatingi of anyPollutant on the SELLERnor does it have any notice of any past,presentorfuture n , conditions, i t practices an configuousproperlythati iv rise to any liability r forma basis for any claim, n r action relating to the Disposal o any PollutantaffectingtheSELLER'S property. ( ) There inocivil, criminal or administrative action, sult, claim, demand, investigation or notice of violation pending or, knowledge, threatened ais or the Property relatinganyway to the Disposal of Pollutantsonthe Pro perty, y portionth or an any contiguousn . . PUBUC REMRDS. PURCHASER is a publicsubject r 119, Florida Statutes. The SELLER Ls hereby notified that thel y bw, pursuant Chapter t in and discloseupon requestIt records deemed publicunder the statute Including this Agreement and some or all of the documentsconsummate the transaction set forth herein.To the extent that any litigation s I Instituted by SEUJM, either directly or as a thirdprevent or prohlbt Purchaser from disdosingr providing documents Involvingthis Agreement orthe transactiont in the Agreementu to a public u r Chapter 119,SELLER agrees that PURCHASERaye r: defendthe claim up to and Including final judgment or ' Interplead the challenged documentsInto the court. In either event, reasonable attorneye fees and costk rll and appellate. 18. LAISPII W. - I. This Agreement and any amendment hereto,may be executed in any number of counterparts, shall be deemed to be an orghal and all of which shall, together, constitute one andthe same Instrument. The section and paragraph headings herein contained are for the purposesWentlication only and shalln I construing this AgreeReference to a Sectionshall be deemed to be a referencethe entire ion, unless i . No modification or amendment of this Agreement shall be of anyr effect unlessin writing executedy the Parties. This Agreement forth the entire agra n n the Parties relatingthe n all subject a r herein and supersedes all prior and contemporaneoustions, understandings written or orat between the Parties. This Agreement shall be interpreted to accordance with the laws of the State of Florida. The Parties hereby agree that jurisdiction ny litigation brought arising out of thisAgreement shall be In the Fifteenth Judicial Circuit, In and r Palm BeachCounty, Florida, or, should any cause of action be limited to federal jurisdiction only,In the Uniteds District Courtforthe Southerni I ri . 1 r herein time which n esu i ie shall an ®calendar days. Any timer for in this PURCHASM ' I : , _. Purchase and Sale Agreement Pop 24 of 7 Agreement which endson a Saturday,Sunday or legal holiday shall extend t ® . an the next full sine . Ti n In performance IIobligations r this Agreement. . . Waiver. Neither the Il Insist upon a strict performance of any of the terms, provisions, covenants, agreements andconditions hereof, nor the acceptance of any Item by a party withknowkWge of a breachof this Agreement by the other party In the performance of their respective o l i run r,shall be deemed a waiver of otherany rights or remedies that a party may have or a waiver of anysubsequent c r defaultIn such provisions, covenants, agreements or conditions. This shall survive to rmination of th Is Agreementthe Closing. 114, tonn . The Parties to thisAgreement, through counsel, have participatedin the negotiationn tion hereof. Neither this Agreement nor any amendmenthereto shall be more strictly construedit any of the Parties. As used In this or any amendmenth lin II Include the feminine, singular shall Inducle the plural, and the plural shall Include the singular,as the context may require. Provisions of this Agreement that expressly provide that they survive Closing shall not merge Into the Deed. jkbilit ., If any provision of this Agreement or the applicationthereof shall, for any reason and to anye Invalid or ,neither the remainder of this Agreement r the applicationi t persons,entitiesr circumstances shall be affected thereby, butInstead shall be enforcedmaximum nt permitted by law.The provisions of this Sections all apply to anyt i t. 18.6 rt _._Provisions. Handwritten provisions Inserted In this Agreement and initialed shall control al printedprovisions in conflict .7 MIverofJupildiii. an Inducemeritto PURCHASER agreeingenter Into this Agreement PURCHASER and SELLER hereby waive trial by jury In any actionr proceedingu r party against to other party pertainingr whatsoever arising out of or In anyway wrinectedwiththis Agreement. 61torneys Do mad C Should it be necessary to bringan action enforce any of the provisions of this e a Ie attornew fees and costs,Including those at the appellatelevel,shall a the prevailingunlessotherwise provided In this Agreementn j limitation of sovereign Immunity as providedhi Section 768.2B, Florida Statutes. 119 lindillL Autor c represents andarra the other that each person executingt behalf of the PURCHASERn E has of t I .. �. Initials Purchase I t Pop 15 of 17 full right andI authority to executethis Agreement andi a for whom r an whose behalf he or she is signing h respect to all provisions containedIn this Agreement. rn . This Agreement may not be recorded in the Public Palm u ,Florida without the.prior approval of both parties. Survival. The covenants, warranties, re presentations, Indemnities n undertakings C and PURCHASER that specifically surviveaoslngset forth In this Agreement shall survive the Closing. 16,12 'SEILLERs Attomeye Fees and Cosb.SELLER acknowledges ands that SELLER shall be responsiblefor Its own attorneW fees and ag costs, If any,Incurred by SELLER in connection with the ion contemplated by this Agreement. 18.13 jMMMkMjMMUajgL NothingIn this Agreement shall be deemed to affect the rights, prtvleges, and sovereign Immunities of the PURCHASER, Including those set forth in Section Florida Statutes. 19. REPRESENTA-nONS, MVENANTS AND WARRAN-nES_ F PURCHASER. To Induce SELLER to enter Into this Agreement, PURCHASER makes the followingrepresentations,all of which, to the best of its knowledge, II material respects andotherwise vl i this n (r) are now true, and (IQ shall be true as of the date of the Closing, (III) Il survive the Closing. 19.1 i Iii In o Ing;. PURCHASER was validly created under all r _ in good standing under II- applicable s of the Effective this Agreement, andill be in good standingunder all applicable state laws a of the Closing . 1 Ion n i nRC AS and the consummation by PURCHASERof the transaction n l by this Agreement are withinPURCHASERS. lawful capacity and all requisite action has been taken to make this Agreement valid and bindingon PURCHASERIn Ith its terms.7he person executing PURCHASERthis Agreement on behalf of s been duly authorizedon behalf of and bind PURCHASER,andthis Agreement representsI in i obligation Of PURCHASER. -I . -Is .and V& All faults. VBCIFICALLY SET FORTH HEREIN. IT IS UNDERSTOOD AND AGREED THAT PURCHASER IS KIRCHASING THE PROPERTY IN AN AS4S. , AND WITH WARRANTIES SET FORTH HEREIN, SELM MAKES NO REPRESENTATIONS OR WARRANTIES AS TO THE CONSITION OF THE PROPERTY OR THE PROPERTY'S NTNESS FOR PURCHASERIS HfMDED USE. PURCHASER SHOULD RELAY ON ITS OWN INVESTIGATIONS AND DiSPECTIONS DURING THE FEASIBUITY PERIOD. aiamws I Purcluse and Salet Page 16 of 17 1, _ - r Insurance --I . a1n on East Faj-,,adeall of rr1` Bulldipg. PURCHASER andn' l t the existingint ll sign on t of the531 East OcianAvenue building l r over 60 years,is one of the is business Images In the Cifty of Boynton Beach, possesses historic and cultural 1 , and is one of the last remainingrepresentations of the Citys historic maln street. such, PURCHASER agrees to uie Its bestI Il sign eitherI r to be relocated and utilized elsewhere In the vicinitythat the cost of the preservation and relocationefforts do not exceed a maximumof Twenty Thousandll . I the event that PURCHASER Is unable to preserve or relocate the wall sign as provided herein, PURCHASER II provide notice ,who shall sixty within which to relocate the sign at Its own n r contribute all additional funding r$20,0W to the CRA for the CRA to relocatethe sign. les adcnowledge and agree that the possibility ists that the sign could be 4amaged or destroyed duringI tl n. However, PURCHASER shall use Its best efforts, as provided herein, to preserve the wall sign ensureand that It remains visible li . IN WITNESSF, the Parties have executed i date. PURCHASEWsIII r Purchase and Sale Agreement Page 17 of 17 : COMMUNITYBOYNTON BEACH P REDEVEILOPMENT AGENCY { Printed n S.Grant -1plovinted Name: Title: IrTitle: _41r.�� r � WITNESS: WITNESS: �. , PrivNa : Printed Name: r r� ESCROAP �GENT r9� �` .�. n al ' Printed Nanne. tk;,� x PURCHASEFVs I iti Is: SELLEWs I i ® i 4 PURCHASE AND SALE AGREEMENT This Purchase and Sale Agreement (hereinafter "Agreement") is made and entered into as of the Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, of the Florida Statutes (hereinafter "PURCHASER") and 508 E BBB, LLC (hereinafter "SELLER"). In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree as follows: 1. PURCHASE AND SALE/PROPERTY. SELLER agrees to sell and convey to PURCHASER and PURCHASER agrees to purchase and acquire from SELLER,. on the terms and conditions hereinafter set forth, the Properties located at 508 E. Boynton Beach Boulevard, City of Boynton Beach, in Palm Beach County, Florida (the "Properties") and more particularly described as follows: Lots 6 and 7, Block 1, ORIGINAL TOWN OF BOYNTON, according to the Plat thereof as recorded in the Plat Book 1, Page 23, Public Records of Palm Beach County, Florida. 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be Nine Hundred Fifteen Thousand and 00/100 Dollars ($915,000.00), payable in cash, by wire transfer of United States Dollars at the Closing. 3. DEPOSIT. 3.1. Earnest Money Deposit. Within five (5) Business Days after the execution of the Purchase Agreement by both parties, PURCHASER shall deliver to Lewis, Longman & Walker, PA ("Escrow Agent") a deposit in the amount of One Hundred Thousand and 00/100 Dollars ($100,000.00)the "Deposit"). 3.2. ApplicationZDisbursement of Deposit. The Deposit shall be applied and disbursed as follows: Providing this Agreement is not terminated by either party pursuant to the terms set forth herein, Fifty Thousand Dollars ($50,000.00) shall be released to SELLER sixty (60) days from the expiration of the Feasibility Period (hereinafter defined). The remaining Deposit shall be delivered to SELLER at Closing and the PURCHASER shall receive credit for the full Deposit ($100,000.00) against the Purchase Price. If this Agreement is terminated during the Feasibility Period (hereinafter defined) for any reason, the Deposit shall be immediately refunded to the PURCHASER. If this Agreement is terminated due to a default, pursuant to Section 12, the /' I PURCHASER's Initials: �- `7i 00704498-1 SELLER's Initials: Purchase and Sale Agreement Page 2 of 15 Deposit shall be delivered to (or retained by, as applicable) the non-defaulting Party, and the non-defaulting Party shall have such additional rights, if any, as are provided in Section 12. 3.3. Escrow Agent. PURCHASER and SELLER authorize Escrow Agent to receive, deposit and hold funds in escrow and, subject to clearance, disburse them upon proper authorization and in accordance with Florida law and the terms of this Agreement. The parties agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to PURCHASER and SELLER, unless the misdelivery is due to Escrow Agent's willful breach of this Agreement or gross negligence. If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable attorney's fees and costs to be paid from the escrowed funds which are charged and awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so long as Escrow Agent consents to arbitrate. 4. EFFECTIVE DATE. The date of this Agreement (the "Effective Date") shall be the date when the last one of the SELLER and PURCHASER has signed this Agreement. 5. CLOSING. The purchase and sale transaction contemplated herein shall close on or before November 11, 2021 (the "Closing"), unless extended by other provisions of this Agreement or by written agreement, signed by both parties, extending the Closing. 6. TITLE TO BE CONVEYED. At Closing, SELLER shall convey to PURCHASER, by Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined), valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions except only the following (collectively, the "Permitted Exceptions"): (a) general real estate taxes and special assessments for the year of Closing and subsequent years not yet due and payable; (b) covenants, conditions, easements, dedications, rights-of-way and matters of record included on the Title Commitment or shown on the Survey (defined in Section 7), to which PURCHASER fails to object, or which PURCHASER agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof. 7. FEASIBILITY PERIOD. The PURCHASER, and its designees shall have twenty (20) days from the Effective Date of this Agreement ("Feasibility Period"), at PURCHASER's expense, to make inquiries to determine if the Property is suitable for its intended use and to enter upon the Property, at any time and from time to time with reasonable notice to SELLER and so long as said investigations do not result in a business interruption, to perform any and all physical tests, inspections, valuation appraisals and investigations of the Property, including but not limited to Phase I and Phase II investigations, which PURCHASER may deem necessary. During this Feasibility Period, PURCHASER may elect, in PURCHASER's sole and absolute discretion, to terminate this contract and receive back all deposits hereunder. If PURCHASER elects to PURCHASER's Initials: SELLER's Initials: 00704498-1 a_ Purchase and Sale Agreement Page 3 of 15 terminate this Agreement in accordance with this Section, PURCHASER shall: (i) leave the Property in substantially the condition existing on the Effective Date, subject to such disturbance as was reasonably necessary or convenient in the testing and investigation of the Property; (ii) to the extent practicable, shall repair and restore any damage caused to the Property by PURCHASER's testing and investigation; and (iii) release to SELLER, at no cost, all reports and other work generated as a result of the PURCHASER's testing and investigation. PURCHASER hereby agrees to indemnify and hold SELLER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to PURCHASER (including, without limitation, any construction liens resulting therefrom) or for damage to persons or property (subject to the limitation on practicability provided above) arising out of PURCHASER's investigation of the Property. However, PURCHASER's indemnification obligations shall not exceed its statutory limits as provided within Section 768.28, Florida Statutes, and PURCHASER does not waive its sovereign immunity rights. SELLER hereby agrees to indemnify and hold PURCHASER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to SELLER or for damage to persons or property (subject to the limitation on practicability provided above) arising out of PURCHASER's investigation of the Property. SELLERS' obligations under this Section shall survive the termination, expiration or Closing of this Agreement. 7.1. Title Review. Within twenty (20) days of the Effective Date, PURCHASER shall obtain, at the PURCHASER's expense, from a Title Company chosen by PURCHASER (hereinafter "Title Company"), a Title Commitment covering the Property and proposing to insure PURCHASER in the amount of the Purchase Price subject only to the Permitted Exceptions, together with complete and legible copies of all instruments identified as conditions or exceptions in Schedule B of the Title Commitment. Any and all assessments, outstanding utility charges, liens and other matters not constituting Permitted Exceptions shall be paid by Seller prior to or at closing from Seller's proceeds. PURCHASER shall examine the Title Commitment and deliver written notice to SELLER no later than thirty (30) days after the Effective Date notifying SELLER of any objections PURCHASER has to the condition of title (hereinafter "Title Objections"). If PURCHASER fails to deliver the Title Objections to SELLER within the aforesaid review period, title shall be deemed accepted subject to the conditions set forth in the Title Commitment. If PURCHASER timely delivers the Title Objections, then SELLER shall have thirty (30) days to diligently and in good faith undertake all necessary activities to cure and remove the Title Objections (hereinafter "Cure Period"). In the event that SELLER is unable to cure and remove, or cause to be cured and removed, the Title Objections within the Cure Period, to the satisfaction of PURCHASER, then PURCHASER, in PURCHASER's sole and absolute discretion, shall have the option of (i) extending the Cure Period and the Closing for one additional thirty (30) day period, or (ii) accepting the title as it then is but using such portion of the Purchase Price as may be necessary to pay and satisfy any mortgages, outstanding utility charges, delinquent property taxes and/or code enforcement and PURCHASER's Initials: S)64r-- SELLER's Initials. T-77 00704498-1 Purchase and Sale Agreement Page 4 of 15 contractors' liens or other recorded claims of lien upon the property, or (iii) canceling and terminating this Agreement, in which case, the Deposit shall be returned to PURCHASER and the Parties shall have no further obligations or liability hereunder, except for those expressly provided herein to survive termination of this Agreement. Prior to the Closing, PURCHASER shall have the right to cause the Title Company to issue an updated Title Commitment ("Title Update") covering the Property. If any Title Update contains any conditions which did not appear in the Title Commitment, and such items render title unmarketable, PURCHASER shall have the right to object to such new or different conditions in writing prior to Closing. All rights and objections of the Parties with respect to objections arising from the Title Update shall be the same as objections to items appearing in the Title Commitment, subject to the provisions of this Section. 7.2. Survey Review. PURCHASER, at PURCHASER's expense, shall obtain a current boundary survey (the "Survey") of the Property, indicating the number of acres comprising the Property to the nearest 1/100th of an acre. If the Survey discloses encroachments on the Property or that improvements located thereon encroach on setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement, or applicable governmental regulations, the same shall constitute a title defect and shall be governed by the provisions of Section 7.1 concerning title objections. 7.3. SELLER Deliveries. SELLER shall deliver to PURCHASER the following documents and instruments within ten (10) days of the Effective Date of this Agreement, except as specifically indicated: 7.3.1. Copies of any reports or studies (including engineering, environmental, soil borings, and other physical inspection reports), in SELLER's possession or control with respect to the physical condition or operation of the Property, if any. 7.3.2. Copies of all licenses, variances, waivers, permits (including but not limited to all surface water management permits, wetland resource permits, consumptive use permits and environmental resource permits), authorizations, and approvals required by law or by any governmental or private authority having jurisdiction over the Property, or any portion thereof (the "Governmental Approvals"), which are material to the use or operation of the Property, if any. 7.3.3. Prior to the Closing Date, SELLER shall execute and deliver to PURCHASER any and all documents and instruments required by PURCHASER, in PURCHASER's sole and absolute discretion, which: (i) effectuate the transfer to PURCHASER of those Governmental Approvals, or portions thereof which are applicable to the Property, that PURCHASER desires to have assigned to it, and/or (ii) cause the Property to be withdrawn from PURCHASER's Initials: SELLER's Initials: 00704498-1 Purchase and Sale Agreement Page 5 of 15 any Governmental Approvals. No later than thirty (30) days prior to the Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the Governmental Approvals (including, but not limited to, any and all portions of the surface water management system, mitigation areas or other items which do not comply with the Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at the time of Closing, any unrecorded instruments affecting the title to the Property, including, but not limited to any conveyances, easements, licenses or leases. 8. CONDITIONS TO CLOSING. PURCHASER shall not be obligated to close on the purchase of the Property unless each of the following conditions (collectively, the "Conditions to Closing") are either fulfilled or waived by PURCHASER in writing: 8.1. Representations and Warranties. All of the representations and warranties of SELLER contained in this Agreement shall be true and correct as of Closing. 8.2. Condition of Property. The physical condition of the Property shall be the same on the date of Closing as on the Effective Date, reasonable wear and tear excepted. 8.3. Pending Proceedings. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever, pending or threatened, which has not been disclosed, prior to closing, and accepted by PURCHASER. 8.4. Compliance with Laws and Regulations. The Property shall be in compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of Closing. 8.5. Occupancy. The property shall be conveyed to the PURCHASER at time of closing unoccupied. 9. CLOSING DOCUMENTS. The PURCHASER shall prepare, or cause to be prepared, the Closing Documents set forth in this Section, except for documents prepared by the SELLER'S Title Company. At Closing, SELLER shall execute and deliver, or cause to be executed and delivered to PURCHASER the following documents and instruments: 9.1. Deed. A Warranty Deed (the "Deed") conveying to PURCHASER valid, good, marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances and other conditions of title other than the Permitted Exceptions. 9.2. Seller's Affidavits. SELLER shall furnish to PURCHASER an owner's affidavit attesting that, to the best of its knowledge, no individual or entity has any claim against the Property under the applicable construction lien law; and that there are no parties in PURCHASER's Initials: SELLER's Initials: 00704496-1 Purchase and Sale Agreement Page 6 of 15 possession of the Property other than SELLER. SELLER shall also furnish to PURCHASER a non- foreign affidavit with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced above, the same shall be deemed an uncured title objection. 9.3. Closing Statement. A closing statement setting forth the Purchase Price, the Deposit, all credits, adjustments and prorations between PURCHASER and SELLER, all costs and expenses to be paid at Closing, and the net proceeds due SELLER, which PURCHASER shall also execute and deliver at Closing. 9.4. Corrective Documents. Documentation required to clear title to the Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions. 9.5. Additional Documents. Such other documents as PURCHASER or the Title Company may reasonably request that SELLER execute and deliver, and any other documents required by this Agreement or reasonably necessary in order to close this transaction and effectuate the terms of this Agreement. 10. PRORATIONS CLOSING COSTS AND CLOSING PROCEDURES. 10.1. Prorations. Assessments, rents, interest, insurance and other expenses of the Property shall be prorated through the day before Closing. PURCHASER shall have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may be required by prorations to be made through the day prior to Closing. Advance rent and security deposits, if any, will be credited to PURCHASER. Taxes shall be prorated based upon the current year's tax with due allowance made for maximum allowable discount. 10.2. Ad Valorem Taxes. PURCHASER and SELLER shall comply with Section 196.295, Florida Statutes, with respect to the payment of prorated ad valorem taxes for the year of closing into escrow with the Palm Beach County Tax Collector's Office. In the event that, following the Closing, the actual amount of assessed real property tax on the Property for the current year is higher than any estimate of such tax used for purposes of the Closing, the parties shall re-prorate any amounts paid or credited based on such estimate as if paid in November. This shall survive the Closing. 10.3. Special Assessment Liens. Certified, confirmed and ratified special assessment liens imposed by public bodies as of Closing are to be paid by SELLER. Pending liens as of Closing shall be assumed by PURCHASER. If the improvement has been substantially completed as of the Effective Date, any pending lien shall be considered certified, confirmed or ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or assessment for the improvement by the public body. PURCHASER's lnitials:.5/J/X— SELLER's Initials: 00704498-1 Purchase and Sale Agreement Page 7 of 15 10.4. Closin _Costs. PURCHASER shall be responsible for recording the deed and half of all general closing expenses (settlement fee, courier fees, overnight package, etc.). SELLER is responsible for documentary stamps on the deed and half of all general closing expenses and their own legal fees. All other costs of closing shall be borne by PURCHASER. 10.5. Closing Procedure. PURCHASER shall fund the Purchase Price subject to the credits, offsets and prorations set forth herein. SELLER and PURCHASER (as applicable) shall execute and deliver to Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i) disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marked-up" Title Commitment to PURCHASER, and promptly thereafter, record the Deed and other recordable Closing Documents in the appropriate public records. 10.6. Existing Mortgages and Other Liens. At Closing, SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments applicable to and encumbering the Property. 11. REPRESENTATIONS COVENANTS AND WARRANTIES. To induce PURCHASER to enter into this Agreement, SELLER makes the following representations, all of which, to the best of its knowledge, in all material respects and except as otherwise provided in this Agreement (i) are now true, and (ii) shall be true as of the date of the Closing unless SELLER receives information to the contrary, and (iii) shall survive the Closing. In that event, PURCHASER shall be provided immediate notice as to the change to the following representations: 11.1. At all times from the Effective Date until prior to Closing, SELLER shall keep the Property (whether before or after the date of Closing) free and clear of any mechanic's or materialmen's liens for work or materials furnished to or contracted for, by or on behalf of SELLER prior to the Closing, and SELLER shall indemnify, defend and hold PURCHASER harmless from and against all expense and liability in connection therewith (including, without limitation, court costs and reasonable attorney's fees). 11.2. SELLER has no actual knowledge nor has SELLER received any notice of any litigation, claim, action or proceeding, actual or threatened, against SELLER or the Property by any organization, person, individual or governmental agency which would affect (as to any threatened litigation, claim, action or proceeding, in a materially adverse fashion) the use, occupancy or value of the Property or any part thereof or which would otherwise relate to the Property. 11.3. SELLER has full power and authority to enter into this Agreement and to assume and perform its obligations hereunder in this Agreement. SELLER does not and will not conflict with or result in the breach of any condition or provision, or constitute a default under, or result in the creation or imposition of any lien, charge, or encumbrance upon any of the Property PURCHASER's Initials: SELLER's Initials: 00704498-1 Purchase and Sale Agreement Page 8 of 15 or assets of the SELLER by reason of the terms of any contract, mortgage, lien, lease, agreement, indenture, instrument or judgment to which the SELLER is a party of which is or purports to be binding upon the SELLER or which affects the SELLER; no action by any federal, state or municipal or other governmental department, commission, board, bureau or instrumentality is necessary to make this Agreement a valid instrument binding upon the SELLER in accordance with its terms. 11.4. SELLER represents that SELLER will not, between the date of this Agreement and the Closing, without PURCHASER'S prior written consent, which consent shall not be unreasonably withheld or delayed, except in the ordinary course of business, create any encumbrances on the Property. For purposes of this provision the term "encumbrances" shall mean any liens, claims, options, or other encumbrances, encroachments, rights-of-way, leases, easements, covenants, conditions or restrictions. Additionally, SELLER represents that SELLER will not, between the date of this Agreement, and the Closing take any action to terminate or materially, amend or alter any existing leases presently in existence, without the prior consent of PURCHASER,which consent shall not be unreasonably withheld or delayed. 11.5. SELLER represents that there are no parties other than SELLER in possession of the Property or any portion of the Property as a lessee. 11.6. SELLER shall not list or offer the Property for sale or solicit or negotiate offers to purchase the Property while this Agreement is in effect. SELLER shall use its best efforts to maintain the Property in its present condition so as to ensure that it shall remain substantially in the same condition from the conclusion of the Feasibility Period to the Closing Date. 11.7. SELLER has no actual knowledge nor has SELLER received any notice of any litigation, claim, action or proceeding, actual or threatened, against SELLER or the Property by any organization, person, individual or governmental agency which would affect (as to any threatened litigation, claim, action or proceeding, in a materially adverse fashion) the use, occupancy or value of the Property or any part thereof or which would otherwise relate to the Property. 11.8. SELLER represents that it has no actual knowledge nor has it received any notice that the Property has been, is presently or is contemplated to be utilized as a reservoir of hazardous material. As used herein, the term "Hazardous Material" shall mean any substance, water or material which has been determined by any state, federal or local government authority to be capable of posing a risk of injury to health, safety and property, including, but not limited to, all of those materials, wastes and substances designated as hazardous or toxic by the U.S. Environmental Protection Agency, the U.S. Department of Labor, the U.S. Department of Transportation, and/or any other state or local governmental agency now or hereafter authorized to regulate materials and substances in the environment (collectively "Governmental Authority(ies)"). PURCHASER's Initials: 5&- SELLER's Initials: 0070981 Purchase and Sale Agreement Page 9of15 11.9. SELLER represents to PURCHASER that the Property is not subject to any deed restrictions or declaration of restrictions running with the Property which would affect the use of the Property except those constituting Permitted Exceptions as defined above. 11.10. Between the date of this Agreement and the date of closing, SELLER will not file any application for a change of the present zoning classification of the Property. 11.11. Authority. The execution and delivery of this Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER in accordance with its terms. The person executing this Agreement on behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this Agreement represents a valid and binding obligation of SELLER. 11.12. Title. SELLER is and will be on the Closing Date, the owner of valid, good, marketable and insurable fee simple title to the Property, free and clear of all liens, encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances of record which will be discharged at Closing). 11.13. Additional Warranties and Representations of SELLER. As a material inducement to PURCHASER entering into this Agreement, SELLER, to the best of SELLER'S information and belief, hereby represents and warrants the following: 11.13.1. There are no pending applications, permits, petitions, contracts, approvals, or other proceedings with any governmental or quasi-governmental authority, including but not limited to, PURCHASER, municipalities, counties, districts, utilities, and/or federal or state agencies, concerning the use or operation of, or title to the Property or any portion thereof and SELLER has not granted or is not obligated to grant any interest in the Property to any of the foregoing entities. 11.13.2. There are no facts believed by SELLER to be material to the use, condition and operation of the Property in the manner that it has been used or operated, which it has not disclosed to PURCHASER herein, including but not limited to unrecorded instruments or defects in the condition of the Property which will impair the use or operation of the Property in any manner. 11.13.3. To the best of SELLER'S knowledge, the Property and the use and operation thereof are in compliance with all applicable county and governmental laws, ordinances, regulations, licenses, permits and authorizations, including, without limitation, applicable zoning and environmental laws and regulations. PURCHASER's Initials: 06--, SELLER's Initials: OD704498-1 Purchase and Sale Agreement Page 10 of 15 12. DEFAULT. 12.1. PURCHASER's Default. In the event that this transaction fails to close due to a wrongful refusal to close or default on the part of PURCHASER, subject to the provisions of Paragraph 12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow Agent to SELLER as agreed liquidated damages and, thereafter, neither PURCHASER nor SELLER shall have any further obligation or liabilities under this Agreement, except for those expressly provided to survive the termination of this Agreement; provided, however, that PURCHASER shall also be responsible for the removal of any liens asserted against the Property by persons claiming by, through or under PURCHASER, but not otherwise. PURCHASER and SELLER acknowledge that if PURCHASER defaults, SELLER will suffer damages in an amount which cannot be ascertained with reasonable certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent most closely approximates the amount necessary to compensate SELLER. PURCHASER and SELLER agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture provision. 12.2. Seller's Default. In the event that SELLER shall fail to fully and timely perform any of its obligations or covenants hereunder or if any of SELLER'S representations are untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement, PURCHASER may, at its option: (1) declare SELLER in default under this Agreement by notice delivered to SELLER, in which event PURCHASER may terminate this Agreement and demand that the Deposit be returned, including all interest thereon if any, in accordance with Section 3 and neither Party shall have any further rights hereunder, or (2) seek specific performance of this Agreement, without waiving any action for damages. 12.3. Notice of Default. Prior to declaring a default and exercising the remedies described herein, the non-defaulting Party shall issue a notice of default to the defaulting Party describing the event or condition of default in sufficient detail to enable a reasonable person to determine the action necessary to cure the default. The defaulting Party shall have fifteen (15) days from delivery of the notice during which to cure the default, provided, however, that as to a failure to close, the cure period shall only be three (3) business days from the delivery of notice. Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld. If the default has not been cured within the aforesaid period,the non-defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions of this section shall survive the termination of this Agreement. 13. NOTICES. All notices required in this Agreement must be in writing and shall be considered delivered when received by certified mail, return receipt requested, or personal delivery to the following addresses: PURCHASER's Initials 5&r— SELLER's Initials: 00704498-1 Purchase and Sale Agreement Page 11 of 15 If to Seller: Bradley Miller 508 E BBB, LLC 508 E. Boynton Beach Boulevard Boynton Beach, FL 33435 With a copy to: Alan J. Ciklin, Esq. CIKLIN LUBITZ Northbridge Tower I, 20th Floor 515 N. Flagler Drive West Palm Beach, FL 33401 If to Purchaser: Michael Simon, Executive Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue, 4th Floor Boynton Beach, FL 33435 With a copy to: Kenneth Dodge Lewis, Longman &Walker, PA 515 North Flagler Drive Suite 1500 West Palm Beach, FL 33401 14. BINDING OBLIGATIONZASSIGNMENT. The terms and conditions of this Agreement are hereby made binding on, and shall inure to the benefit of the successors and permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement without the prior written consent of PURCHASER, which shall not be unreasonably withheld. PURCHASER shall have the right to assign this Agreement to the City of Boynton Beach (the "City") without the prior consent of SELLER and the PURCHASER shall be released from any further obligations and liabilities under this Agreement. The PURCHASER may not assign this Agreement to any other party without the prior written approval of SELLER, which shall not unreasonably withheld. If PURCHASER has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are in effect, the provisions of section 163.357(1), Florida Statutes, (as it may be amended from time to time), shall apply. 15. BROKER FEES. The SELLER and PURCHASER hereby state that they have not dealt with a real estate broker in connection with the transaction contemplated by this Agreement and are not liable for a sales commission. SELLER shall indemnify, defend and hold harmless the PURCHASER from and against any and all claims, losses, damages, costs or expenses (including, without limitation, attorney's fees) of any kind or character arising out of or resulting from any agreement, arrangement or understanding alleged to have been made by SELLER on its behalf PURCHASER's Initials SELLER's Initials: 00704498-1 Purchase and Sale Agreement Page 12 of 15 with any broker or finder in connection with this Agreement. The provisions of this Section shall survive Closing or termination of this Agreement. 16. ENVIRONMENTAL CONDITIONS. 16.1. For purposes of this Agreement, pollutant ("Pollutant") shall mean any hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant, petroleum, petroleum product or petroleum by-product as defined or regulated by environmental laws. Disposal ("Disposal") shall mean the release, storage, use, handling, discharge, or disposal of such Pollutants. Environmental laws ("Environmental Laws") shall mean any applicable federal, state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions. 16.1.1 As a material inducement to PURCHASER entering into this Agreement, SELLER hereby warrants and represents the following, as applicable: (1) That SELLER and occupants of the Property have obtained and are in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or contiguous property owned by SELLER, to the best of SELLER'S knowledge. (2) SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the Property. SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices on contiguous property that is owned by SELLER which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant affecting the SELLER'S property. (3) There is no civil, criminal or administrative action, suit, claim, demand, investigation or notice of violation pending or, to the best of that entity's knowledge, threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the Property, any portion thereof, or on any contiguous property owned by SELLER. 17. PUBLIC RECORDS. PURCHASER is a public agency subject to Chapter 119, Florida Statutes. The SELLER is hereby notified that the PURCHASER is required by law, pursuant to Chapter 119, to maintain and disclose upon request all records deemed public under the statute including this Agreement and some or all of the documents necessary to consummate the transaction set forth herein. To the extent that any litigation should be instituted by SELLER, either directly or as a third party, to prevent or prohibit PURCHASER from disclosing or providing documents involving this Agreement or the transaction set forth in the Agreement pursuant to a public records request submitted under Chapter 119, SELLER agrees that PURCHASER may either: 1) defend the claim up to and including final judgment, or 2) interplead the challenged PURCHASER's Initial 00704498-1 SELLER's Initials• Purchase and Sale Agreement Page 13 of 15 documents into the court. In either event, SELLER agrees to pay PURCHASER'S reasonable attorneys'fees and costs, both trial and appellate. 18. MISCELLANEOUS. 18.1. General. This Agreement, and any amendment hereto, may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall, together, constitute one and the same instrument. The section and paragraph headings herein contained are for the purposes of identification only and shall not be considered in construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire Section, unless otherwise specified. No modification or amendment of this Agreement shall be of any force or effect unless in writing executed by the Parties. This Agreement sets forth the entire agreement between the Parties relating to the Property and all subject matter herein and supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the Parties. This Agreement shall be interpreted in accordance with the laws of the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising out of this Agreement shall be in the Fifteenth Judicial Circuit, in and for Palm Beach County, Florida, or, should any cause of action be limited to federal jurisdiction only, in the United States District Court for the Southern District of Florida. 18.2. Computation of Time. Any reference herein to time periods which are not measured in business days and which are less than six (6) days, shall exclude Saturdays, Sundays and legal holidays in the computation thereof. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. on the next full business day. Time is of the essence in the performance of all obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the calculation thereof. 18.3. Waiver. Neither the failure of a party to insist upon a strict performance of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance of any item by a party with knowledge of a breach of this Agreement by the other party in the performance of their respective obligations hereunder, shall be deemed a waiver of any rights or remedies that a party may have or a waiver of any subsequent breach or default in any of such terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination of this Agreement and the Closing. 18.4. Construction of Agreement. The Parties to this Agreement, through counsel, have participated freely in the negotiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the Parties. As used in this Agreement, or any amendment hereto, the masculine shall include the feminine, the singular shall include the plural, and the plural shall include the singular, as the context may require. Provisions of this Agreement that expressly provide that they survive the PURCHASER's Initials: MZ/-- 00704498-1 SELLER's Initial Purchase and Sale Agreement Page 14 of 15 Closing shall not merge into the Deed. 18.5. Severability. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The provisions of this Section shall apply to any amendment of this Agreement. 18.6. Handwritten Provisions. Handwritten provisions inserted in this Agreement and initialed by PURCHASER and SELLER shall control all printed provisions in conflict therewith. 18.7. Waiver of Jury Trial. As an inducement to PURCHASER agreeing to enter into this Agreement, PURCHASER and SELLER hereby waive trial by jury in any action or proceeding brought by either party against the other party pertaining to any matter whatsoever arising out of or in any way connected with this Agreement. 18.8. Attorneys Fees and Costs. Should it be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable attorneys' fees and costs, including those at the appellate level, shall be awarded to the prevailing party. 18.9. Binding Authority. Each party hereby represents and warrants to the other that each person executing this Agreement on behalf of the PURCHASER and SELLER has full right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 18.10. Recording. This Agreement may not be recorded in the Public Records of Palm Beach County, Florida without the prior approval of both parties. 18.11. Survival. The covenants, warranties, representations, indemnities and undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and recording of the SELLER'S Property Deed and PURCHASER's possession of the Property. 18.12. SELLER Attorneys' Fees and Costs. SELLER acknowledges and agrees that SELLER shall be responsible for its own attorneys' fees and all costs, if any, incurred by SELLER in connection with the transaction contemplated by this Agreement. 4r— PURCHASER's Initials. SELLER's Initials: 007044e8-1 Purchase and Sale Agreement Page 15 of 15 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective date. PURCHASER: SELLER: BOYNTON BEACH COMMUNITY REDEVELOP ENT EN w ma Printed Name: Steven B. Grant Printed Name: L' Title: Chair Title: Date: , zo t Date: 7 WW1 ,MESS: 1 WITNESS: 79 x AfPrinted Name: ,° Printed Name: � ' Ap�ro r� Lewis, Longma & alker, P.A. Printed Na e: _[ clk 4A r Date: PURCHASER's Initials: 5eb— SELLER's Initials: 00704498-1 APPRAISAL REPORT (APPRAISER FILE: 20-1928) r; vv S i REDEVELOPMENT SITE THE BOARDWALK 209 N FEDERAL HWY BOYNTON BEACH, FLORIDA FOR BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY BOYNTON BEACH, FL AS OF OCTOBER 26, 2020 AUCAMP, DELLENBACKT APPRAISERS&CONSULTANTS AUCAMP y APPRAISERS&CONSULTANTS November 12, 2020 Mr. Michael Simon Director Boynton Beach Community Redevelopment Agency 100 E Ocean Ave Boynton Beach, FL 33435 RE: Appraisal of Real Property The Boardwalk 209 N Federal Hwy Boynton Beach, Florida 33435 (Appraiser File: 20-1928) Dear Mr. Simon: As you requested, we made the necessary investigation and analysis to form an opinion of value for the above referenced real property. This report is an appraisal of the property. To assist Boynton Beach CRA in business-related decisions regarding this property, this appraisal provides an estimate of market value for the fee simple interest in the subject real property in its "as is" condition. This report is written in APPRAISAL REPORT format. No other party may use or rely on this report for any purpose. This appraisal assignment and report have been prepared in accordance with requirements of the Uniform Standards of Professional Appraisal Practice (USPAP) developed by the Appraisal Standards Board of the Appraisal Foundation, with the appraisal requirements of Title XI of the Federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), with the Interagency Appraisal and Evaluation Guidelines of 2010, with the Appraisal Institute's Code of Professional Ethics and Standards of Professional Appraisal Practice, and with requirements of the State of Florida for state-certified general real estate appraisers. The subject is located along the northwest corner of N Federal Hwy and NE 1 st Ave within the municipality of Boynton Beach, Palm Beach County, Florida. The site consists of 14,336 square feet (SF), or 0.33 acres. In 1945, the subject was improved with a structure that has since been converted to a retail building containing 1,034 SF. The subject's quality of materials is rated as average; the improvements have been maintained in average condition. The subject is currently 100% occupied by a single tenant who operates an ice cream shop. The lease commenced on April 3, 2015, and the term of the lease is 5 years with 3% annual escalations. There is a one, five-year option to extend the lease, and the tenant is currently in the option period. However, the lease is not relevant for the subject valuation since a substitute premises clause allows the landlord to relocate the tenant to an alternative space nearby. Therefore, the fee simple interest is the relevant interest. lgoo NW CORPORATE BOULEVARD, SUITE 215E, BOCA RATON, FLORIDA 33431 561-998-9326, FAX 561-241-4759 Mr. Michael Simon November 12, 2020 The gross rent from the current operation is $31,523 annually, or $30.49/SF. After deductions for operating expenses, the net operating income is around $15,000, or $14.50/SF. When capitalizing this income stream at a 6.5%, the result is a value of$230,000. Our estimate of land value is around $60/SF, or $860,000. The subject's land value has exceeded the value as improved. The existing improvements are only useful on an interim basis until the property can be redeveloped. The subject does not appear to be listed for sale on the open market, nor is it reported to be encumbered by a purchase and sale agreement. On Friday, March 13, 2020, President Trump declared a National Emergency concerning the Novel Coronavirus Disease (COVID-19). The World Health Organization declared the outbreak of this virus to be a pandemic. Global financial conditions have been significantly affected. We have completed this appraisal report as this situation is unfolding, and the effects on the economy and the real estate markets have yet to be fully understood. We have incorporated this feature using the best available information as of the date of this report. A further discussion regarding this unfolding event is found near the beginning of the Market section and before the SWOT analysis. After careful and thorough investigation and analysis, we estimate market value for the fee simple interest in the subject real property in its "as is" condition, subject to assumptions and contingent and limiting conditions as well as any extraordinary assumptions and hypothetical conditions, as explained in this report, as of October 26, 2020, is: EIGHT HUNDRED SIXTY THOUSAND DOLLARS ($860,000) Every attempt has been made to distinguish between tangible real property, tangible personal property, such as furniture, fixtures and equipment, and intangible property, such as assets and business value. This appraisal is limited to valuation of the tangible real property ("real property"). Aucamp Dellenback & Whitney has not performed services concerning this property during the past three years. Thank you for this opportunity to assist in meeting your appraisal needs. Respectfully submitted, AUCAMP, DELLENBACK&WHITNEY Jonthan Whitney, MAI State-certified General Real Estate Appraiser RZ2943 jon(o-)-adw-appraisers.com AUCAMP, ELLEN C ITNEY 3 File#20-1928 TABLE OF CONTENTS TABLE OF CONTENTS PART 1: INTRODUCTION 1 TITLE PAGE 1 LETTER OF TRANSMITTAL 2 TABLE OF CONTENTS 4 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS 5 LOCATION MAP 7 SUBJECT PHOTOGRAPHS 8 SCOPE OF WORK 14 PART 2: DESCRIPTIONS, ANALYSES, AND VALUE CONCLUSIONS 16 MUNICIPALITY 16 NEIGHBORHOOD 18 MARKET 22 SUBJECT PROPERTY 27 HIGHEST AND BEST USE 36 VALUATION PROCESS 37 SALES COMPARISON APPROACH 38 RECONCILIATION AND FINAL VALUE CONCLUSIONS 53 NORMAL MARKETING PERIOD AND REASONABLE EXPOSURE TIME 54 PART 3: ADDENDUM 55 CERTIFICATION 55 CONTINGENTAND LIMITING CONDITIONS 57 HYPOTHETICAL CONDITIONS AND EXTRAORDINARY ASSUMPTIONS 60 DEFINITIONS 61 AREA DESCRIPTION AND ANALYSIS 65 APPRAISER QUALIFICATIONS AND LICENSE 71 AUCAMP, DELLENBACKI NEI' File#20-1928 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS REPORT TYPE Appraisal Report PROPERTY TYPE Redevelopment Site LOCATION 209 N Federal Hwy, Boynton Beach, Florida 33435 REPORT DATE November 12, 2020 VALUATION DATE October 26, 2020 INTENDED USER Boynton Beach CRA INTENDED USE To assist in business-related decisions regarding this property SITE 14,336 SF or 0.33 acres IMPROVEMENTS Retail building constructed in 1945 and containing 1,034 SF OCCUPANCY 100% by a tenant ZONING Central Business District (CBD) by the City of Boynton Beach CENSUS TRACT 61.00 FLOOD ZONE X & AE, flood insurance is typically required in Zone AE HIGHEST AND BEST USE As Vacant: Immediate development of an urban residential-focused mixed-use project in conjunction with surrounding parcels. As Improved: Interim use of existing improvements until the property can be assembled and redeveloped with an urban residential-focused mixed- use project. NORMAL MARKETING PERIOD Twelve months or less REASONABLE EXPOSURE TIME Twelve months or less ASSIGNMENT OVERVIEW The sales comparison approach provides the most useful indication of market value. AUCAMP, DELLENBACKI NEI' 5 File#20-1928 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS VALUE INDICATIONS Cost N/A N/A N/A Sales Comparison $860,000 $832 $60 Income Capitalization N/A N/A N/A Market Value Conclusion $860,000 $832 $60 AUCAMP, DELLENBACKI NEI' File#20-1928 LOCATION MAP LOCATION MAP Lake Placid. _ Port St Lucile !10 Okeechobee Stuart N s 5 Clvckheard Ridge 4i;I,[s l•= _P ec.�_i1r.gat , klabbt Sound r9K Indiarrown harlotte - 7a Ir �� o 1l<0,1Jmabdr° I�s ' Jupiter arl�ntte Park m :rm` e Pe ld beach "Melon Hz�en Gardens fis cis Pah�okee `as••. - ,�ao': Riviera Beach `. La Bee ED LlCTwi Stu Yn y t Palm Bleach Alva Royal North Bort M ers Belle Glade SUBJECT 7B, Fort myers Lehigh Acres -44 ke`Warth Cape Corms; Artm R, E®ynt Beach }i C ; San Carlos Park. Delray' Beach Sanibel A10 las Irnirrokabae Bunn rt s tSaca Platen 3Pnngs , rhf,,,S .k:. Deerfield Beach Cs�ral 5�rrings,� Tamarac Porhpana Beach Lauderdale Lakes i sa, .,R ' '` az' Plantation` Naples .. , - ... - Fort L uderdaIe T Big cp,tt,'_r.v..m,,v R 914,1 n .r-tCooperCity DaA k.,ea Dania E e t� �,:. 25- Holl wood ' any r'r�'r Hallandale Beads Marco' �' Miraet�an 7 C,,P ,^1.,G— North.Miami Beach �Q, (eqr I Carol C1Py Ta"tai"i Tail g rI �•�� Hialeah 7Y .�r•�d � 3 . Miami lar .tra4 �e2.a° Iamiami Tmil ,. ` CoraI Gahbes �a Kendall (a:7a Cutler.Ridge Lt&q,,W,i„ On .621 .._ kisevtr 1'�Wc1�„I Homestead n U'ti !tet, olmd f.:�rNs. r _.etc, r F,a.•�r 2,A'a, I Ui i g•_ .?rr.,r=rbsYj9are .� b.,�.e Key Largo AUCAMP, DELLEN ACK&WHITNEY 7 File#20-1928 SUBJECT PHOTOGRAPHS SUBJECT PHOTOGRAPHS r r R :'a v'�>n rtut rrs t tr>F t",t i II lt,N,I"II'j A f� '� 7 i I � iI��` Y�, L �➢ t �S`� l '�{' �r - - > �•j> �„ t (III �, t {! 1 Bird's eye view of subject (outlined) facing subject's south elevation r tI t t Facing subject from sidewalk along N Federal Hwy (south and east elevations shown) File#20-1928 SUBJECT PHOTOGRAPHS r. 7} f su l0 i41 ii. �l 4 gg 4 �A 1 T East and north elevations shown ! a� e� � � s 1 i r i 14If ��r ii �4 Facing north along N Federal Hwy with subject on the left AUCAMP, DELLENBACKI NEI' 9 File#20-1928 SUBJECT PHOTOGRAPHS r}� �p i !�1}tl4jr i l R k { i.r s��2§ — � Sp Facing west along NE 1St Ave with subject on the right f ! i 3 I res ; I 1 1 i Z s n Retail area AUCAMP, DELLEN ACK&WHITNEY 10 File#20-1928 SUBJECT PHOTOGRAPHS w" ", ,wllslii Sf ik f � f € �4 a �t I� Storage area � a _- \ rh emu - € Preparation area AUCAMP, DELLENBACKITNEI' 11 File#20-1928 SUBJECT PHOTOGRAPHS j , t ' t Rear patio (west elevation shown) t;) a r z w , r„ _ w r Exterior seating area AUCAMP, DELLEN ACK&WHITNEY 12 File#20-1928 SUBJECT PHOTOGRAPHS } �1)�) i1t I�flll{S{}1S�) felt tts 4�jtf, _ is�p fitii�r niltll)tt�Cl��lt�trytl}ji}{�9 Sti�ii�1S}} r}i� 1+lit'�1 - liii�l it �� i��lil}+i`•'i<<yl Ql lf7t�'11��lSstG l � � (��it°11��1Si ��i 1c i `t� } � t 4ilt Restroom AUCAMP, DELLENBACKITNEI' 13 File#20-1928 SCOPE OF WORK SCOPE OF WORK Appraisal Purpose: To estimate market value in "as is" condition Interest Appraised: Fee simple interest Client: Boynton Beach Community Redevelopment Agency Intended User: Boynton Beach CRA. No other party may use or rely on this report for any purpose. Intended Use: To assist in business-related decisions regarding this property Report Format: Appraisal Report Inspection Date: October 26, 2020 Effective Date: October 26, 2020 Report Date: November 12, 2020 Competency Rule: We had the knowledge and experience necessary to complete this assignment competently at the time of its acceptance. Definitions: Shown in the addendum of this report Hypothetical None Conditions: Extraordinary None Assumptions: Valuation Approaches: The sales comparison approach provides an estimate of market value based on an analysis of comparable property sales. Appraisers: Jonathan Whitney inspected the readily accessible areas of the subject site and improvements, performed the research and analysis, and wrote this report. Other: Prudent and competent management is assumed AUCAMP, DELLENBACKI NEI' 1 File#20-1928 SCOPE OF WORK Subject Property Name: The Boardwalk Address: 209 N Federal Hwy, Boynton Beach, Florida 33435 Location: The subject is located along the northwest corner of N Federal Hwy and NE 1 st Ave within the municipality of Boynton Beach, Palm Beach County, Florida Legal Description: The East Half of Lot 12, Lot 13 and Lot 14, Less the East 10 Feet Thereof, Block 1 Original Town of Boynton Beach, According to the Plat Thereof, Recorded in Plat Book 1, Page 23, of the Public Records of Palm Beach County, Florida (source: survey). Current Owner: 209 N FEDERAL LLC (source: Palm Beach County Property Appraiser records). A title search was not performed as part of this assignment as that is outside the scope of work. Ownership History: The subject has not sold during the prior three years. No arm's length transactions have occurred in the three years prior to the valuation date (effective date). The subject does not appear to be listed for sale on the open market, nor is it reportedly encumbered by a purchase and sale agreement. Items Received: The following items were provided by the client: • Lease, dated April 3, 2015 • Survey, dated February 4, 2014, by O'Brien, Suiter & O'Brien, Inc. Interviews: We interviewed Mike Ross, a representative of the property owner, regarding the subject property. Market Data Sources: CoStar Realty (subscription service), LoopNet.com (subscription service), Multiple Listing Service (subscription service), PwC Real Estate Investor Survey (subscription service), published reports from national brokerage firms, RealQuest (subscription service), Site-To-Do-Business (subscription service), Floodmaps.com (subscription service), RealtyRates.com (subscription service), Marshall Valuation Service (subscription service), local county property appraiser's records (public records), Circuit Court recordings (public records), and appraisal files Types of Data: Land and improved sales and listings Geographic Area: Primary: Boynton Beach; secondary: Palm Beach County; tertiary: South Florida Verification: Sales were verified by a party to each transaction, unless otherwise noted AUCAMP, DELLENBACKITNEI' 15 File#20-1928 PART 2: DESCRIPTIONS, ANALYSES, AND VALUE CONCLUSIONS The subject's municipality is described in the following pages. The Addendum contains an Area Description and Analysis of the state, South Florida, and Palm Beach County. MUNICIPALITY The City of Boynton Beach is located in southeastern Palm Beach County along the coastline of the Atlantic Ocean. The City was originally founded in the early 1900s and experienced tremendous growth between the 1950s and the 1980s. The city is nearly built-out with only infill sites remaining for development; redevelopment of some older properties has occurred during the past 10 years. Boynton Beach currently has roughly 65,000 residents. The City Limits encompass roughly 16.4 square miles, and the city is the third largest in Palm Beach County behind West Palm Beach and Boca Raton. The automobile is the primary mode of transportation in the city. The city has a grid-like pattern to its roads. Major north-south roadways are Federal Hwy, 1-95 and Congress Ave. Major east- west roadways are Woolbright Rd, Boynton Beach Blvd and Gateway Blvd. Each of these east- west roads intersect with 1-95. Transportation linkages are good. The most intensive uses within the city are permitted in the downtown area near the corner of Federal Hwy and Boynton Beach Blvd (AKA 2nd Ave). This downtown area has historically been a small low-rise area with limited commercial uses; new development has primarily consisted of a couple of residentially-focused high-rise buildings. The Congress Ave corridor, located west of 1-95, is a major retail corridor in the region, anchored by the enclosed Boynton Beach Mall and open-air Renaissance Center. Substantial new commercial and residential development has occurred over the past 15 years in this area, consisting of low- to mid-rise office, retail and residential buildings. Boynton Beach has close proximity to a few high-end communities, such as Gulf Stream and Ocean Ridge. Primary employment centers in the region consist of Boca Raton to the south and West Palm Beach to the north. However, pockets of employment centers are located throughout the South Florida region. For instance, a large light industrial park, Quantum Corporate Park, is located in northern Boynton Beach near Gateway Blvd and 1-95. Adequate recreational and institutional uses are located in the city or nearby. Several beaches are open to the public north and south of Boynton Beach Blvd. The 401-room Bethesda Memorial Hospital serves the Boynton Beach community. The long-term sustainability of Boynton Beach is aided by continued long-term in-migration to the region and proximity to employment centers and recreational amenities. AUCAMP, DELLENBACKITNEI' 16 File#20-1928 MUNICIPALITY MUNICIPALITIES MAP r. manaiapn NIVf PUX xi I ! ! F, li � w SUBJECT .7,sC0itdh:Beach Ocean Rd e u r . k �> Briny Breezes r Golf i rhsr°' t t , . ! i r v '� a iia Cie m � W _I ! a � H4 L L Delray Beach A s � a I f 'z s V R AUCAMP, DELLENBACKITNEI' 17 File#20-1928 NEIGHBORHOOD NEIGHBORHOOD The subject neighborhood is the downtown area of Boynton Beach. This downtown area is the greater area surrounding the intersection of Boynton Beach Blvd and Federal Hwy. The neighborhood is in the revitalization stage of a typical neighborhood life cycle. The primary mode of transportation throughout the neighborhood is the automobile. Boynton Beach Blvd is a four-lane, traffic artery with an interchange with 1-95. Seacrest Blvd is a collector roadway in the eastern part of the neighborhood. Federal Hwy is the primary north-south thoroughfare. Local streets connect with Boynton Beach Blvd and Federal Hwy. Overall, the roadway network is good. Most of this neighborhood corridor was developed with single-family homes in the 1940s and 1950s. Some of these buildings have been converted to commercial use by single occupants. Lots are relatively small and most conducive to use by small buildings. The eastern end of the neighborhood was initially developed with some small, low-intensity commercial buildings. The City and the CRA (Community Redevelopment Agency) has been actively encouraging a more intensive downtown over the years. The downtown had a relatively low profile until three major redevelopment projects were completed during recent years. • Marina Village along E Ocean Ave was completed in 2006 with up to 14 floors of several hundred residential condominium units above 20,000 SF of first floor retail space. • The Promenade along N Federal Hwy was completed in 2009 with 14 floors of 323 residential condominium units above 19,000 SF of first floor retail space. The loan note on the unsold inventory of approximately 250 units was sold to a prominent South Florida developer, The Related Group. This buyer subsequently took title in a "friendly foreclosure" and changed the name to Casa Costa. • 500 Ocean is a major new project that completed construction in 2018 with 341 residential units and 20,000 SF of commercial space at the southwest corner of Federal Hwy and E Ocean Ave. Boynton Beach's former City Hall is currently being redeveloped into Boynton Beach Town Square. This 16-acre site along the south side of Boynton Beach Blvd will consist of a large new municipal and cultural complex. A couple of relatively large vacant parcels in the downtown are available for development. A couple of larger scale developments on underimproved or vacant sites have been approved by local developers, but have yet to break ground. The following chart shows the demographics for rings surrounding the subject, as well as the demographics for the city, the county and the state. Compared to the county, the immediate area surrounding the subject (one-mile ring) has a lower median household income, a lower median home value, and a lower percentage of owner occupied units. The chart indicates significant projected annual population growth in the immediate area over the next five years. The one-mile radius to the subject has 13,810 residents, which is a rather dense area for largely suburban Palm Beach County. AUCAMP, DELLENBACKITNEI' 18 File#20-1928 NEIGHBORHOOD DEMOGRAPHICS AROUND SUBJECT Source:ESRI,2020 figures u Population 13,810 81,780 187,439 77,123 1,471,269 21,587,015 Projected Ann. Rate ('20- '25) 2.23% 1.43% 1.22% 1.27% 1.08% 1.33% Median HH Income $49,500 $54,428 $56,846 $54,233 $63,026 $56,362 Households (HH) 5,666 35,214 80,593 32,834 599,076 8,438,100 Average HH Size 2.43 2.29 2.31 2.32 2.42 2.52 Median Age 43.3 44.5 47.3 44.2 45.9 42.5 Owner Occupied Units 42.9% 48.8% 55.4% 53.2% 59.1% 54.3% Median Home Value $247,533 $230,163 $255,200 $234,128 $303,461 $237,555 AUCAMP, DELLENBACKITNEI' 19 File#20-1928 NEIGHBORHOOD AREA MAP QJ ' SUBJECT Va8— ernRoad,81 d 1n= i ti 6A`fig_.. 1'_, 4r` IIt t•': e W A'JtN ""o 7, Rd r- ,r>r) File#20-1928 NEIGHBORHOOD NEIGHBORHOOD MAP � � Marina Village Town Square� SUBJECT � �y �r 500 Ocean »' t ° t ME tm AUCAMP, DELLEN ACK&WHITNEY 21 File#20-1928 MARKET MARKET Overview This market section was developed as a result of multiple discussions with market participants, reviewing published reports as well as analyzing trends involving construction prices, sales, rent rates, and occupancies. The South Florida real estate market, consisting of the industrial, commercial and residential markets in Palm Beach County, Broward County and Miami-Dade County, has been quite volatile during the past decade. Nearly all sectors have been experiencing expansion and appreciation in recent years. However, year-over-year price gains experienced over the past few years have slowed as of late, generally speaking. Until recently, the Gross Domestic Product (GDP) for the United States had been on a slow year-over-year percentage increase for several years. Unemployment had been on a slow, steady decline in recent years and was reported to be hovering around 4.0% before recently jumping upward. Interest rates had been and continue to be at historic lows. Positive economic evidence led the Federal Reserve to increase the federal funds rate throughout 2018. However, midway through 2019, as a result of various trade wars and global political uncertainty, the Federal Reserve actually began to cut the rate. In early 2020, the Federal Reserve further cut the rate in response to mounting global economic uncertainty related to COVID-19. COVI D-19: The unfolding COVID-19 pandemic is currently impacting global real estate markets. Starting in March 2020, various local, state and federal authorities have ordered the closure of non- essential businesses, including most retail stores (but not grocery stores). Most office workers are asked or ordered to work from home. Some areas, including South Florida, have government imposed "stay-at-home" orders outside of fulfilling essential and critical tasks. As a result, most market participants report a pause on executing most new lease and sale transactions. Some market participants are expected a coming surge in retail defaults due to the closures. Most under construction development is still occurring, though developers are considering halting projects which have yet to commence. However, some businesses are greatly benefitting from the quick change of consumer habits. The market has seen a surge of new e-commerce activity, causing a need for new warehouse space in dense areas. Some businesses which provide select critical needs, services, and products have experienced increased demand. And, some market participants report the low interest rate environment is very desirable for getting new deals accomplished for less affected businesses. The fundamentals of the real estate markets were quite strong prior to the disruption from COVID-19 and the associated governmental imposed restrictions. Overall, whether the effects of this unfolding pandemic in the real estate markets is short term or long term remains to be fully understood at this point in time. We are likely to see every real estate sector affected, but not all similar fashion. Again, this is an unfolding event with imperfect data available at this time. This appraisal report captures the currently available data and the market's initial response to this situation. AUCAMP, DELLENBACKITNEI' 22 File#20-1928 MARKET Residential Market Data collected by Reinhold P. Wolff Economic Research, Inc. (Reinhold Wolff) show an increasing trend in the number of housing starts in South Florida in recent years. The housing starts in 2019 are substantially less than the starts from the peak of the previous development cycle. SOUTH FLORIDA BUILDING PERMITS Source:Reinhold P.Wolff Economic Research Palm Beach County Multiple-Family 4,578 4,653 3,911 905 592 165 258 692 2,314 2,554 3,213 1,984 3,557 1,959 1,991 2,341 Single-Family 10,128 9,535 4,426 2,033 1,202 1,102 1,248 1,810 2,181 2,756 4,049 3,737 3,780 2,792 2,969 3,062 Total 14,706 14,188 8,337 2,938 1,794 1,267 1,506 2,502 4,495 5,310 7,262 5,721 7,337 4,751 4,960 5,403 Broward County Multiple-Family 4,359 2,919 3,567 2,141 1,242 637 228 1,016 1,828 2,835 1,828 2,119 2,585 2,862 2,610 3,394 Single-Family 4,742 3,451 3,119 17771104 604 981 1399 1064 1333 1714 1687 1946 1658 1613 1771 Total 9,101 6,370 6,686 3,918 2,346 1,241 1,209 2,415 2,892 4,168 3,542 3,806 4,531 4,520 4,223 5,165 Miami-Dade County Multiple-Family 11,940 15,684 10,180 4,240 2,865 585 1,367 1,684 3,160 8,087 11,361 13,649 10,777 7,460 7,843 9,633 Single-Family 9,043 11,528 6,356 31691 1,161 565 930 973 1,904 2,092 2,482 2,772 2,955 22,271 2,422 22,435 Total 20,983 27,212 16,536 7,931 4,026 1,150 2,297 2,657 5,064 10,179 13,843 16,421 13,732 9,731 10,265 12,068 South Florida Multiple-Family 20,877 23,256 17,658 7,286 4,699 1,387 1,853 3,392 7,302 13,476 16,402 17,752 16,919 12,281 12,444 15,368 Single-Family 23,913 24,514 13,901 7,501 3,467 2,271 3,159 4,182 5,149 6,181 8,245 8,196 8,681 6,721 7,004 7,268 Total 44,790 47,770 31,559 14,787 8,166 3,658 5,012 7,574 12,451 19,657 24,647 25,948 25,600 19,002 19,448 22,636 The most recent South Florida New Condo Project Rankings chart from CraneSpotters.com indicates that about 50,000 units in over 450 projects have been announced, proposed, under construction, or completed during this current expansion cycle (starting 2011) in the South Florida market. Roughly 75% of these projects have been in Miami-Dade County. Roughly 20% have been in Broward County. Roughly 10% have been in Palm Beach County. Over 50% of these units are in the pre-development stages or construction stages, while about 50% have been either delivered or are currently under construction. During recent years, the residential condominium market for relatively larger projects located within urban core areas (namely Miami) has exhibited signs of market correction; this is evident in several condominium projects being cancelled or developers converting projects to a "for rent" product. Notably, the condominium market for relatively smaller condominium projects in boutique markets or underserved markets is not exhibiting these signs and some smaller condominium projects continue to be financially feasible. In terms of home prices, data provided by the Case-Shiller Home Price Index for South Florida shows home prices have been increasing in recent years. Overall prices in South Florida are roughly 85% above the low point in 2011. The latest report available indicates about a 3.8% increase year-over-year in the index for South Florida. AUCAMP, DELLENBACKI NEI' 23 File#20-1928 MARKET Rental Apartment Market To quantify recent trends within the local apartment market, we utilized CoStar Comps to research sales of properties located within Broward County and Palm Beach; the results of this search are shown in the following chart. This chart groups sales by year and displays the number of transactions (#), sales volume, mean and median price levels, as well as median DOM. BROWARD COUNTY AND PALM BEACH COUNTY MULTIFAMILY SALES Source:Compiled from Costar Realty • a 2006 200 $1,104,228,600 $117,471 - $126,900 - 90 31 2007 98 $587,466,096 $111,010 -6% $85,714 -32% 181 24 2008 99 $359,483,553 $68,512 -38% $81,000 -5% 133 31 2009 165 $314,281,770 $32,284 -53% $35,416 -56% 156 47 2010 127 $685,963,449 $105,908 228% $45,000 27% 102 66 2011 156 $732,716,244 $104,376 -1% $54,688 22% 143 71 2012 229 $1,092,615,334 $91,755 -12% $68,182 25% 92 78 2013 218 $923,433,612 $98,409 7% $66,667 -2% 112 124 2014 271 $1,351,468,289 $112,767 15% $82,337 24% 130 140 2015 321 $2,334,836,193 $146,297 30% $90,488 10% 132 158 2016 309 $2,670,162,009 $126,304 -14% $100,000 11% 134 160 2017 345 $2,286,526,485 $192,244 52% $100,000 0% 120 118 2018 507 $3,360,199,791 $173,523 -10% $111,000 11% 126 131 2019 516 $3,419,848,308 $182,689 5% $126,266 14% 119 141 Listings 168 $314,528,760 $202,772 - $163,025 - 104 167 DOM=days-on-market and DOM#=number of DOM sales. During recent years, the sales volume has increased, and mean and median prices are showing increases. Recently, median Days-on-Market (DOM) have been less than five months. The most recent PwC Real Estate Investor Survey was published in Q3 2020;this report includes findings for investment grade properties within the Southeast Region Apartment Market which are summarized in the following bullets: • Overall Cap Rate range: 4.00% to 6.50% with an average of 5.00%. • Marketing Periods: One to eight months with an average of about four months. • Year 1 Market Rent Change: Estimate of YOY increases of 0.00% to 2.50% with an average of 1.15%. AUCAMP, DELLENBACKI NEI' 2 File#20-1928 MARKET The following chart provides rental rate as well as vacancy information within Palm Beach County as well as the Boynton Beach submarket (subject's submarket) as reported by the Q3 2020 Reinhold Wolff survey. The data indicate the vacancy rate within the subject's submarket is slightly higher and the rental rates are lower in comparison with the county as a whole; this report is summarized in the following chart: RENTAL APARTMENT MARKET Source:Reinhold Wolff Research(Q3 2020) Boynton Beach 3.6% 1 820 $1,500 $1.83 2 1,133 $1,733 $1.53 3 1,362 $2,084 $1.53 Palm Beach County 3.5% Efficiency 588 $1,724 $2.93 1 817 $1,671 $2.05 2 1,139 $1,908 $1.68 3 1,406 $2,346 $1.67 `Monthly rental rates. New local projects have the following rents: • 500 Ocean: This newer 341-unit project at 500 Ocean Ave, Boynton Beach, has rents ranging between $1.60 and $1.77/SF, and an average asking rent of$1,680, or $1.67/SF per month. • One Boynton: This newer 494-unit project at 1351 S Federal Hwy, Boynton Beach, has rents ranging between $1.32 and $1.92/SF, and an average asking rent of$1,976, or $1.53/SF per month. • RiverWalk: This proposed 328-unit project at 1620 S Federal Hwy, Boynton Beach along the waterfront has proforma rents ranging between $2.47 to $3.15/SF, and an average rent of$2,592, or $2.66/SF per month. AUCAMP, DELLENBACKITNEI' 25 File#20-1928 MARKET Strengths, Weaknesses, Opportunities, and Threats (SWOT) Strengths for the subject include aspects of its location and interim income. • Location: The subject has good visibility and frontage along an arterial road. The subject is located in a developing urban area experiencing revitalization and increases in resident population, which bodes well for property values as well as market interest in residential apartment rental units. The subject site involves close proximity to the ocean and public beaches. • Interim Income: The subject has some interim income utilizing its current improvements until the property can be assembled and redeveloped. Weaknesses for the subject include aspects of its location and building features. • Location: The subject's surrounding area has lower than typical median household incomes and median homes values. Over recent years, the subject's local area has experienced less redevelopment than its other adjacent communities. Opportunities for the subject include external factors such as market forces ■ Market Forces: Favorable market forces are apparent in the local residential rental market currently, which bode well for property prices and-or rents to outpace inflation. Finally, threats for the subject include external factors such as market forces. ■ Market forces: The residential market exhibits some risk as new product becomes available placing some downward pressure on rents or prices. However, the demand for units in South Florida is anticipated to outpace supply over the five years based on expected population growth. And, the real estate markets have not yet had time to fully react to the economic uncertainty related to the ongoing coronavirus pandemic Conclusion Overall, the subject has good desirability in the South Florida market. File#20-1928 SUBJECT PROPERTY SUBJECT PROPERTY This section addresses physical characteristics of the site and improvements plus other factors, such as zoning and taxes. Analysis and conclusions for these features are included at the end of this section. Site Features Adjacent Uses: North: Retail East: Vacant commercial, across N Federal Hwy West: Parking lot South: Religious facility, across NE 1St Ave Size: 14,336 SF or 0.33 acres (source: Palm Beach County Property Appraiser) Shape: Relatively square Frontage: Along the west side of N Federal Hwy, a four-lane, divided, public road (AADT: 23,000), as well as along the north side of NE 1 st Ave , a two-lane, undivided, public road Dimensions: 127' along N Federal Hwy, by 116' depth Corner: Unsignalized corner Topography: Generally flat and slightly above street grade Soils: Generally sandy, typical of the area. We assume the site has no adverse conditions. Hazards: An environmental site assessment report was not provided. We are not aware of any environmental hazards affecting the subject; we assume the site has no adverse environmental conditions. Utilities: Public water and sewer service as well as electricity and communication services Easements: The survey lists typical drainage and utility easements along the perimeter. We are not aware of any easements that present unusual or adverse development conditions for the subject. Encroachments: The survey does not list any encroachments. We are not aware of any encroachments that involve the subject. Census: 61.00 (source: United States Census Bureau) Flood Zone: X & AE, Community-Panel: 12099C0793F, dated October 5, 2017; flood insurance is typically required in zone AE (source: FEMA) AUCAMP, DELLENBACKITNEI' 27 File#20-1928 SUBJECT PROPERTY Zoning: Central Business District (CBD) by the City of Boynton Beach; a provision exists for the property owner to easily secure a zoning change to Mixed Use Core (MU-C) which permits multifamily uses consistent with its below underlying land use (80 units per acre, and up to 100 units per acre). The permitted uses include retail, multifamily, office, hotel, and civic uses at a maximum FAR of 4.0. The subject is located in a federally-designated Opportunity Zone. Various tax benefits and incentives exist for private investment in properties located in these zones. Since this is a very new program, any effect on market prices has yet to be fully understood. Future Land Use: Designated Mixed-Use High (MXH), which permits 150' in height and 80 residential units per acre with 25% bonus for workforce housing Taxes: The County's Property Appraiser establishes assessments annually. The millage rate is the amount paid to each taxing body for every $1,000 of assessed value. Millage rates applied to properties in this neighborhood are for the state, county, city, and special districts. In addition, property owners are obligated to pay non-ad valorem taxes. Based on a Florida State Statute, the increase in assessments for non- homesteaded property (such as commercial property) cannot exceed 10% per year. As a result, the current market values (per the County's Property Appraiser) for some properties exceed current assessments. Taxes are based on assessments and are not subject to a 10% annual cap. However, after a sale transaction, assessments are reset to the County's market value. The subject is registered as a store use by the County. The millage rate during 2020 is 21.3977. The subject's 2020 assessed value is less than the market value conclusion in this report. Taxes are now due. SUBJECT TAXES 08-43-45-28-03-001-0121 Land $358,375 $317,520 Improvements $72,290 $68,794 Market Value $430,665 $386,314 Assessment $398,750 $9,223 $362,500 $8,307 AUCAMP, DELLENBACKITNEI' 28 File#20-1928 SUBJECT PROPERTY Site Improvements Vehicular Access: Vehicular access along eastbound and westbound NE 1St Ave Paving: Gravel drive and parking area Parking: Approximately 9 unlined spaces for a ratio of 8.70 spaces per 1,000 SF of building area. Curbing: Concrete curbs along walkway perimeter Walkways: Concrete and wood Drainage: Positive drainage away from improvements Landscaping: Grass, shrubs, and trees Irrigation: Underground system Lighting: Building- and pole-mounted Street Right-of-Way: Asphalt paving, concrete sidewalks, concrete curbing, storm water catchment basins, overhead lighting, and landscaped, curbed median. There is no median break on N Federal Hwy benefitting the subject property. AUCAMP, DELLENBACKI NEI' 29 File#20-1928 SUBJECT PROPERTY Building Improvements In 1945, the subject was improved with a structure which was subsequently converted to a retail building containing 1,034 SF gross. The source for the building's size is the survey, verified for reasonableness with other sources. Building Shell and Exterior Features: Structure: Concrete masonry unit walls and steel joist roof system (assumed) Foundation: Monolithic slab or spread footings (assumed) Walls: Painted stucco with decorative moldings and bandings Story Height: One floor with an average story height of 11' Roof: Built-up composition over lightweight concrete and metal deck (assumed) Doors: Fixed glass in aluminum frames as well as fiberglass/metal doors Windows: Fixed glass in aluminum frames Access: Primary entry along south elevation Other: Covered entry Other: Metal-supported vinyl awnings along select elevations Interior Features: Flooring: Vinyl plank Walls: Painted drywall Trim/Baseboards: Wood Doors: Hollow core and solid core wood Ceilings: Painted drywall Clear height: Average ceiling height of 9' Lighting: Incandescent and fluorescent Restrooms: Two-fixture restrooms Fire Protection: Smoke alarms AUCAMP, DELLENBACKI NEY 30 File#20-1928 SUBJECT PROPERTY Plumbing: Typical commercial kitchen plumbing; the kitchen equipment, cooler and a freezer are considered personal property HVAC: Package unit Electrical: Assumed adequate; the property is served by a single meter Analysis and Conclusions: The site plan consists of parking to the south of a single building on the northern portion of the site. The subject has an above average parking ratio for similar properties in the area. The property's floor-area-to-site-area ratio (FAR) is 0.07, which is a lower than typical ratio for similar properties in the area. Overall, the site improvements have good utility and do not display any significant functional obsolescence. The building improvements have a relatively simple architectural design and have average appeal in the local market. The improvements are configured for a single occupant. The floor plan consists of an open retail area, a restroom, as well as rear preparation and storage areas. The interior build-out is rather minimal and consists of generally average to good quality materials. The floor plan appears to have average to good functional utility. At inspection, we did not observe any significant deferred maintenance. Repairs and maintenance appear to be performed and contracted as appropriate, and capital improvements appear to be performed on a regular, scheduled basis. Overall, the subject's quality of materials is rated as average and the improvements have been maintained in average condition. The subject does not suffer from a prominent type of functional obsolescence. The property suffers from external obsolescence, as land prices have placed downward pressure on the value of the building improvements. The following chart shows our life expectancy estimations for the subject property. The total useful life estimation is based on the guidelines provided via Marshall Valuation Service (MVS). The subject corresponds with Average Type in MVS. The remaining economic life is estimated to be less than five years. SUBJECT LIFE EXPECTANCY o _ MVS Building Category Retail store MVS Building Class C MVS Building Type Average Year Built 1974 Actual Age 46 Effective Age 30 Total Useful Life 45 Remaining Useful Life 15 AUCAMP, DELLENBACKITNEI' 31 File#20-1928 SUBJECT PROPERTY ZONING MAP jiHIRD UT y n �( �� Ly xd =J ri - f' NV1� i�T H nA' E N iV TV AVE J, N SUBJECT Cza pCA , f. - E§aCEAN AVE t T7 � , .J, M. C1 Office Professional C2 Neighborhood Commercial C3 Community Commercial C4 General Commercial CBD Central Buisness District PCD Planned Commercial Development M1 Light Industrial PID Planned Industrial Development SMU Suburban Mixed Use,20 du/ac MU-1 Mixed Use 1,20 du/ac MU-2 Mixed Use 2,40 dulac MU-3 Mixed Use 3,50 dulac MU-4 Mixed Use 4,60 du/ac MU-C Mixed Use Core,80 du/ac REC Recreation e PU Public Usage J,sv, 9 AUCAMP, DELLEN ACK&WHITNEY 32 File#20-1928 SUBJECT PROPERTY FUTURE LAND USE MAP II� EBI SUBJECT R r, r t., I f l —07 s Future Land Use Classification FLU—Desc3 -- LOW DENSITY RESIDENTIAL(LDR):7.5 D U iAcre ------------ J MEDIUM DENSITY RESIDENTIAL(M'.EDR)111 D.2iAcre HIGH DENSITY RESIDENTIAL(HDR);15 d U./Acee SPECIAL HIGH DENSITY RESIDENTIAL(SHDR);20 D.UJ.)Acre F OFFICE COMMERCIAL(OC) LOCAL RETAIL COMMERCIAL(LRC) GENERAL COMMERCIAL(IGC) INDUSTRIAL(I) j RECREATIONAL(R) PUBLIC 8.PRIVATE GOVERN MEN TAL)INSTITUTIONAL(PPGI) MIXED USE LOW(MXL),20 D.UJAe.re MIXED USE MEDIUM(M XM}50...D.UJ JAcee MIXED USE HIGH(MXH):BD D.U./Acre DEVELOPMENT OF REGIONAL IMPACT(DRI) CONSERVATION ICON.). CONSERVATION OVERLAY(CiO) AUCAMP, DELLENBACKI NEI' 33 File#20-1928 SUBJECT PROPERTY AERIAL PARCEL MAP Subject is outlined in red E Iva tf(,,i'1 �, 44 r t } t d'Pt s 4 � 11 4, ` r4E:,lb )Ave i a z t b 1^ 1 t tr All � r r c tt� t,, r 'r "t ' i�Sr�i 1 r �S� ' tt ( AUCAMP, DELLEN ACK&WHITNEY 34 File#20-1928 SUBJECT PROPERTY SURVEY AL 7AJACSM SURVEY Ta r-- =1.1 oma E xc I T-- y MAA OF BOLtl DARY SURVEY li i a•R,neA�,swjrr l oaB F i±nK. AUCAMP, DELLENBACKI NEI' 35 File#20-1928 HIGHEST AND BEST USE HIGHEST AND BEST USE The concept of highest and best use has the following definition. The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible, and that results in the highest value. Appraisal Institute, The Dictionary of Real Estate Appraisal, Fifth Edition (2010), p. 93. The highest and best use concept takes into account contribution of a specific use to the community and community development goals as well as benefits of that use to individual property owners. An additional aspect is the use determined from this analysis represents an opinion, not a fact to be found. The concept of highest and best use represents the premise upon which value is based. The highest and best use must meet four tests or criteria. Legally permissible: What uses are permitted or have reasonable probability of being permitted by zoning and deed restrictions on the site in question? Physically possible: What uses are possible based upon the site's physical constraints such as size, shape, area, terrain, soil conditions, topography, and access to utilities? Financially feasible: Which possible and permissible uses will produce a net return to the owner of the site? Maximally productive: Among the feasible uses, which one is most probable and will produce the highest net return and highest present worth? Analysis of highest and best use for a property typically involves analyzing the site as though it were vacant and available for development, as well as analyzing the site as improved and proposed to be improved. In the subject's case, this analysis focuses on highest and best use as vacant and as improved. Based on its physical attributes, the subject site is well suited for a variety of uses. Concerning legally permissible uses, the subject site is zoned for intensive mixed-use improvements. For financial feasibility, several new residential-focused projects are in various forms of the development cycle in comparable locations in the South Florida market, indicating financial feasibility. A high-level estimate of construction costs, rental income and operating expenses support that a residential-focused mixed-use project is financially feasible and maximally productive for the area. Most similar properties to the subject are assembled with surrounding uses to maximize the development potential afforded in the zoning code. The highest and best use as vacant is for immediate development of an urban residential-focused mixed-use project, involving assemblage with adjacent uses in order to maximize the development potential. The subject site has been improved with a retail use which does not maximize the development potential of the site. And, when capitalizing the current income stream, the value is substantially less than land prices for similar sites, which are +/- $60/SF. Thus, the subject land value has exceeded the value as improved. Therefore, the existing improvements do not contribute to overall property value and are useful only on an interim basis. The highest and best use as improved is for interim use of the existing improvements until the property can be assembled and redeveloped with an urban residential-focused mixed-use project. The most probable purchaser of the subject is an owner user or developer, based on sales of similar property. AUCAMP, DELLENBACKITNEI' 36 File#20-1928 VALUATION PROCESS VALUATION PROCESS The previous sections contain identification and analysis of the area including the neighborhood and local market as well as data and analysis of the subject site as a basis for determining the highest and best use of the property. Estimating market value for property under its highest and best use typically involves analysis of three separate approaches: cost approach, sales comparison approach, and income capitalization approach. The cost approach is based on the principle of substitution that states an informed purchaser will not pay more for a property than the cost of reproducing a property with identical improvements having the same utility. This approach consists of estimating value for the site as vacant, adding direct and indirect costs of construction, deducting an estimate of accrued depreciation, and adding an appropriate entrepreneurial profit. The cost approach is not relevant for estimating market value because numerous assumptions are necessary for estimating obsolescence, thereby reducing its credibility, and because a most probable purchaser would place no weight on valuation in the cost approach. The sales comparison approach is also based upon the principle of substitution whereby similar properties within competitive markets will realize similar prices. An informed purchaser would not pay more for the subject property than the cost to acquire another property with the same amenities and utility. Market data are available for estimating market value in this approach. The income capitalization approach is based on the principle of anticipation whereby an investor expects benefits to be derived in the future. In evaluating future benefits, an informed purchaser will analyze income as well as how change affects income-producing characteristics of the property. This approach consists of analyzing a property's income and deducting appropriate expenses as well as evaluating appropriate capitalization methods. The existing improvements are an under-improvement of the site and it would be inappropriate to capitalize this income stream in perpetuity. And, land is not typically leased in this market. This approach is not typical or necessary in order to provide credible assignment results for similar property. The final step in the valuation process is reconciliation of the value indications into a single final value by analyzing the appropriateness, accuracy and quantity of evidence in the sales comparison approach. AUCAMP, DELLENBACKITNEI' 37 File#20-1928 SALES COMPARISON APPROACH SALES COMPARISON APPROACH The sales comparison approach is a method for estimating the subject's value by analyzing sales of similar properties. The underlying theory is that a prudent buyer would not buy one property at a price any higher than the cost to acquire a comparable, competitive property. This approach provides a reliable indication of market value when properties are bought and sold regularly. A search of the local area for recent transactions of similar properties provided a sufficient number of useful sales, contracts, and listings (comparables). These comparables are summarized within the following chart, are displayed on a following map, and are described in the subsequent detailed descriptions. The comparables are analyzed on the basis of the most relevant unit of comparison which, in this case, is price per SF of land. The comparables have an unadjusted price range of$53.24 to $64.74/SF of land. Comparable listings were also considered in this analysis. SUMMARY OF COMPARABLES The Boardwalk,209 N Federal Hwy,Boynton Beach,Florida(20-1928) ADW Property ID 12109 12119 10767 12177 12118 9643 Property Name The East Boynton Gracey Site Downtown Site Weiss Chapel Fmr Church Site Boardwalk Site Site Address 209 N Federal 401 E Boynton 219 W Boynton 126 W Boynton 202 E Boynton 115 N Federal Hwy Beach Blvd Beach Blvd Beach Blvd Beach Blvd Hwy City Boynton Beach Boynton Beach Boynton Beach Boynton Beach Boynton Beach Boynton Beach Sale: Sale Price N/A $917,000 $400,000 $750,000 $835,000 $3,000,000 Sale Status In-Contract Closed Closed Closed Closed Marketing Period N/A 0 months 0 months 5 months 0 months Date of Sale N/A Dec-19 Mar-19 Dec-18 May-18 Price/SF Bldg N/A $169.94 $375.59 $868.06 $278.33 $219.56 Price/SF of Land N/A $54.94 $53.24 $55.31 $64.74 $53.39 Property. Property Type Land Land Land Land Land/ Retail Land Site Size Acres 0.33 0.38 0.17 0.31 0.30 1.29 Site Size SF 14,336 16,692 7,513 13,560 12,898 56,192 Zoning CBD C-3 C-2 C-2 C-3 CBD Land Use MU High MU High MU Low MU Med MU Med MU High Height Limit 150' 150' 45' 75' 75' 150' Density Limit/Acre 80 80 20 50 50 80 Surface Old Retail Old Retail Old SFR Old Retail Old Retail Old Church Bldg SF 1,034 5,396 1,065 864 3,000 13,664 FAR 0.07 0.32 0.14 0.06 0.23 0.24 Approvals None None None None None None AUCAMP, DELLENBACKITNEI' 33 File#20-1928 SALES COMPARISON APPROACH MAP OF COMPARABLE PROPERTIES V,10 f-,L,11111 Iia«6'.j J,W" r3,j n DP k B acI1 -f0USL,+fir ;h ,j I Land Sale No. 1. nr (Ji 1 `r & Boyntor Beach [' BCp 7 1 each ii,,rarp At vll , Land Sale N Lead Bele No.4 ®., Lr�dl nle No. 5 � Boynton Ocean Llt�r'nc,Mary AUCAMP, DELLEN ACK&WHITNEY 39 File#20-1928 SALES COMPARISON APPROACH COMPARABLE 1 ffl rs t :;~\blit+{r i 9 1 � r r General Data Property Name: East Boynton Site Property Type: Land Address: 401 E Boynton Beach Blvd, Boynton Beach, Florida 33435 County: Palm Beach Parcel ID: 08-43-45-21-18-000-0060, etc. Legal Description: ARDEN PARK ADD LT 6/LESS S 17.6 FT SR 804/, etc. Site Data Site Size: 0.38 acres or 16,692 SF Zoning: C-3 Land Use Plan: Local Retail Commercial Surface: Old bldgs Site Plan Approval: No Approvals: None Utilities: In-place Site Comments: Site consists of three adjacent parcels with frontage and visibility along E Boynton Beach Blvd. Sale Data Sale Status: In-Contract Price: $917,000 Price/SF of Land: $54.94 Grantor: POWER LIFTS LLC Grantee: Confidential Property Rights: Fee Simple AUCAMP, DELLENBACKITNEI' 40 File#20-1928 SALES COMPARISON APPROACH Marketing Period: N/A Prior Transactions: None in the prior three years Verification Source: Confidential contract, Jonathan Whitney, November 2020 (20-1928) Sale Remarks: Purchase price was determined by an appraisal. Some interim income exists from the current tenants. However, the property is expected to be assembled and redeveloped. The current improvements consist of two small retail stores totaling 5,396 SF. Provision in city's code for change in land use allowing up to 80 units per acre and CRA's zoning recommendation is 80 units per acre and maximum height of 150'. AUCAMP, DELLENBACKITNEI' 41 File#20-1928 SALES COMPARISON APPROACH COMPARABLE 2 'Y wtk � I e w e I z �4 t: rt General Data Property Name: Gracey Site Property Type: Land Address: 219 W Boynton Beach Blvd, Boynton Beach, Florida 33435 County: Palm Beach Parcel ID: 08-43-45-21-07-001-1120 Legal Description: BOYNTON HILLS LT 112 & E 25 FT OF LT 113/LESS S 10 FT SR 804/ BILK A Site Data Site Size: 0.17 acres or 7,513 SF Zoning: C2 Land Use Plan: LRC Surface: Old SFR Site Plan Approval: No Approvals: None Utilities: To site Site Comments: Located in developing downtown Boynton Beach Sale Data Sale Status: Closed Price: $400,000 Price/SF of Land: $53.24 Sale Date: December 2019 O.R. Book-Page: 31124-01508 Grantor: MOLINA FAMILY TRUST Grantee: GRACEY PROPERTIES LLC Property Rights: Fee simple AUCAMP, DELLENBACKI NEI' 42 File#20-1928 SALES COMPARISON APPROACH Financing: Cash Marketing Period: 0 months Prior Transactions: None in previous three years Verification Source: Confidential, Jonathan Whitney, February 2020 (20-0062) Sale Remarks: Not listed on the open market, but believed to be a market-driven transaction. Site improved with an older singe-family home containing 1,065 SF built in 1945. Property will be rented in the interim and likely assembled and redeveloped in the longer term. Provision in city's code for change in land use allowing up to 20 units per acre and CRA's zoning recommendation is MU-1 for 20 units per acre and maximum height of 45'. Buyer has since assembled some surrounding sites and has the entire assemblage containing 1.06 acres listed at$41/SF land. AUCAMP, DELLENBACKITNEI' 43 File#20-1928 SALES COMPARISON APPROACH COMPARABLE 3 t Sf 1 � � t r�.p M 1 0 General Data Property Name: Downtown Site Property Type: Land Address: 126 W Boynton Beach Blvd, Boynton Beach, Florida 33435 County: Palm Beach Parcel ID: 08-43-45-28-10-004-0050 Legal Description: BOYNTON HEIGHTS ADD REV PLAT LOTS 5 TO 8 INC/LESS NLY 10 FT SR 804/BILK 4 Site Data Site Size: 0.31 acres or 13,560 SF Zoning: C-2 Land Use Plan: LRC Surface: Old Bldg Site Plan Approval: No Approvals: None Utilities: To site Site Comments: Located in developing downtown Boynton Beach. Sale Data Sale Status: Closed Price: $750,000 Price/SF of Land: $55.31 Sale Date: March 2019 O.R. Book-Page: 30470-1140 Grantor: BEERCADE LLC Grantee: JWS INVESTMENTS LLC AUCAMP, DELLENBACKI NEI' 44 File#20-1928 SALES COMPARISON APPROACH Property Rights: Fee simple Financing: 86% LTV via private lender Marketing Period: 0 months Prior Transactions: Sold for$380,000 in July 2017 Verification Source: Public Records &CoStar, Jonathan Whitney, July 2019 (20-1928) Sale Remarks: Not listed on the open market. Unable to confirm the sale with a party to the transaction, but all appearances point to an arm's length transaction. Retail building built in 1970 containing 864 SF does not significantly contribute to value but may be used in the interim until property is redeveloped (which is its highest and best use). Provision in city's code for change in land use allowing up to 50 units per acre and CRA's zoning recommendation is MU-2 or MU-3 for 40 to 50 units per acre and maximum height of 75'. AUCAMP, DELLENBACKITNEI' 45 File#20-1928 SALES COMPARISON APPROACH COMPARABLE 4 n General Data Property Name: Weiss Chapel Site Property Type: Land Address: 202 E Boynton Beach Blvd, Boynton Beach, Florida 33435 County: Palm Beach Parcel ID: 08-43-45-28-03-003-0091 Site Data Site Size: 0.30 acres or 12,898 SF Zoning: C3 Site Comments: This is adjacent to the new Town Square Sale Data Sale Status: Closed Price: $835,000 Price/SF of Land: $64.74 Sale Date: December 2018 O.R. Book-Page: 30337/00731 Grantor: Gloria Weiss Realty LLC Grantee: 202 E Boynton Bch Blvd LLC Property Rights: Fee simple Financing: None recorded Marketing Period: 5 months Prior Transactions: None in the prior three years Verification Source: Gloria Weiss, Rep of Seller, 561-483-9835, Zach Weygandt, February 2019 (19-0203) AUCAMP, DELLENBACKI NEI' 46 File#20-1928 SALES COMPARISON APPROACH Sale Remarks: Seller was an owner user funeral home that vacated at sale. Seller believes her contract was flipped to the recorded buyer for an additional price above $835,000, but this could not be confirmed. Seller believed improvements (approx. 3,000 SF)were going to be used, but modified for a medical-related use. Was under contract for seven months. While zoned C3, property could be rezoned for mixed-uses per the CRA's recommendation of a land use of MU medium (40 units per acre), and a zoning district of MU-2 or MU-3 for 40 to 50 units per acre and height of 75'. Highest and best use is interim use with the existing improvements until the property can be assembled and redevelopment. AUCAMP, DELLENBACKITNEI' 47 File#20-1928 SALES COMPARISON APPROACH COMPARABLE 5 i rtr i t t`�''tiatiti4ss r tt}rrkiso lslrit��S�R General Data Property Name: Fmr Congregational United Church Site Property Type: Land Address: 115 N Federal Hwy, Boynton Beach, Florida 33435 County: Palm Beach Parcel ID: 08-43-45-28-03-006-0010; 08-43-45-28-03-001-0100 Legal Description: Lots 1 -7, Block 6, Original Town of Boynton Site Data Site Size: 1.29 acres or 56,192 SF Zoning: CBD Land Use Plan: MXH Surface: Old church Approvals: None Utilities: To site Site Comments: Two parcels separated by a public road one with frontage along N Federal Hwy Sale Data Sale Status: Closed Price: $3,000,000 Price/SF of Land: $53.39 Sale Date: May 2018 O.R. Book-Page: 29857/00580 Grantor: Boynton Beach Congregational United Church of Christ Grantee: Boynton Beach Community Redevelopment Agency AUCAMP, DELLENBACKI NEI' 48 File#20-1928 SALES COMPARISON APPROACH Property Rights: Fee simple Financing: N/A Marketing Period: 0 months Prior Transactions: None in the prior three years Verification Source: Confidential, Jonathan Whitney, February 2019 (19-0203) Sale Remarks: Market-driven price paid for property, though it was an off-market transaction. Former religious facility containing 13,664 SF built in 1953 that that will be used as a library while the City's municipal project, Town Square, is being redeveloped nearby. Price per SF of building is $220/SF. Long-term plans are for redevelopment; land use permits 80 units per acre and CRA's zoning recommendation is MU-Core for 80 units per acre (up to 100 units with workforce housing) and maximum height of 150'. AUCAMP, DELLENBACKITNEI' 49 File#20-1928 SALES COMPARISON APPROACH Adjustments are appropriate and necessary based on differences in elements of comparison. The following elements of comparison are characteristics of properties and sale transactions causing variations in prices. The first five elements of comparison are considered transactional adjustments; each of the transactional adjustments is made prior to making further adjustments. The remaining five elements of comparison are referred to as property adjustments and their total net adjustment is applied at the end. 1. Real property rights conveyed 2. Financing terms 3. Conditions of sale 4. Expenditures immediately after purchase 5. Market conditions 6. Location 7. Physical characteristics 8. Economic characteristics 9. Use 10. Non-realty components of sale The comparables are adjusted quantitatively. The percentage adjustment indicates the degree of the appropriate adjustment based on our knowledge of the local market, discussions with market participants and reviewing data. A chart on a following page shows comparison of the comparables with the subject, and contains adjustments as explained in the following items. 1. Real Property Rights Conveyed. No differences are noted. 2. Financing Terms. No differences are noted. 3. Conditions of Sale. No differences are noted. 4. Expenditures Immediately After Purchase. No differences are noted. 5. Market Conditions. Market prices and rental rates have been increasing during the past couple of years, as discussed in the Market section. The most dated comparable is adjusted upward 5% to account for improving market conditions. However, no other upward adjustments are made as a result of uncertainty related to COVID-19. 6. Location. Consideration is given to the following factors: net operating incomes, rents, land prices, visibility, traffic counts, and neighborhood demographics, such as household income and home prices. This feature also incorporates the zoning and development potential. Several of the sales have slightly inferior locations and-or development potential than the subject. Several sales are adjusted upward between 5% and 15%. 7. Physical Characteristics. Differences in prices are evident for a couple of considerations. Site Size: Typically, prices per square foot have an inverse relationship to site size. As site size increases, price per square foot generally decreases, based in part on economies of scale. Comparable 5 is adjusted upward 10%. AUCAMP, DELLENBACKI NEI' 50 File#20-1928 SALES COMPARISON APPROACH Surface: All of the comparables have the same highest and best use of interim use with existing improvements until redevelopment, likely involving assemblage with surrounding uses. Now, we are adjusting the comparables to the subject in its "as is" condition, which involves an older, smaller leased building which does not significantly contribute to value (the land value estimate in the highest and best use indicates land value is between $55 and $60/SF for the subject). The subject has an older building which is useful on an interim basis, similar to several of the comparables sales. Two sales involve much larger buildings on their respective sites and can produce more income until the properties can be redeveloped. No adjustment will be applied under this adjustment since we are electing to adjust under economic characteristics for this feature. 8. Economic Characteristics. As mentioned above, some differences were noted for surface and associated interim income and-or owner utility until redevelopment. • Comparable 1 has an older building in fair condition which also does not significantly contribute to value. However, since the building is larger than the subject, more income will be realized than the subject over the interim period. In order to recognize this feature, this comparable is adjusted downward 5%. • Comparable 4 has an older building in relatively good condition and this building slightly contributes to value. And, since the building is larger than the subject, more income will be realized than the subject over the interim period. In order to recognize this feature, this comparable is adjusted downward 10%. • Comparable 5 has an older building in relatively fair condition which also does not significantly contribute to value. However, since the building is larger than the subject, more owner utility will be realized than the subject over the interim period. In order to recognize this feature, this comparable is adjusted downward 5%. 9. Use. Some differences are noted, but these differences were accounted for in the economic adjustment. 10. Non-realty Components of Sale. No differences are noted. The comparables have an adjusted price range of$54.94 to $61.50/SF land with a mean of $59.47/SF of land. Most of the adjustments are relatively minor. Rounding the mean to $60/SF of land appears to be a reasonable value conclusion. We also search the market for comparable listings with similar criteria as the comparable sales. Discussion with brokers for these listing as well as other market participants confirmed the reasonableness of this value conclusion for the subject and the market expectations. The subject has 14,336 SF, so this value conclusion computes to $860,000. When applying this value to the size of the building, it represents $831/SF of building. The subject's FAR (Floor Area Ratio) is 0.07 and the sale with the most similar FAR is Comparable 3 at 0.06, which has a price per building of$868/SF of building. Thus, our value appears reasonable on a price per square foot of building basis. Therefore, we conclude the value of the subject in "as is" condition, via the sales comparison approach, is $860,000. AUCAMP, DELLENBACKITNEI' 51 File#20-1928 SALES COMPARISON APPROACH ADJUSTMENTS TO COMPARABLES The Boardwalk,209 N Federal Hwy,Boynton Beach,Florida(20-1928) Property The East Boynton Gracey Site Downtown Weiss Chapel Fmr Church Boardwalk Site Site Site Site Surface Old Retail Old Retail Old SFR Old Retail Old Retail Old Church Bldg Size 1,034 5,396 1,065 864 3,000 13,664 Site Size Acres 0.33 0.38 0.17 0.31 0.30 1.29 Site Size(SF) 14,336 16,692 7,513 13,560 12,898 56,192 Land Use MU High MU High MU Low MU Med MU Med MU High Height Limit 150' 150' 45' 75' 75' 150' Density Limit/Acre 80 80 20 50 50 80 Sale Status In-Contract Closed Closed Closed Closed Sale Date N/A Dec-19 Mar-19 Dec-18 May-18 Unadjusted Price/SF N/A $54.94 $53.24 $55.31 $64.74 $53.39 Transactional Ad!s Market Conditions SIMILAR SIMILAR SIMILAR SIMILAR INFERIOR Adjustment 0% 0% 0% 0% 5% Adjusted Price/SF $55 $53 $55 $65 $56 Property Adls: Location/ Frontage INFERIOR INFERIOR INFERIOR INFERIOR SIMILAR Adjustment 5% 15% 10% 5% 0% Size SIMILAR SIMILAR SIMILAR SIMILAR LARGER Adjustment 0% 0% 0% 0% 10% Surface/ Economics SUPERIOR SIMILAR SIMILAR SUPERIOR SUPERIOR Adjustment -5% 0% 0% -10% -5% Net Adjustment 0% 15% 10% -5% 5% Adjusted Price/SF $54.94 $61.23 $60.84 $61.50 $58.86 Gross Adjustment 10% 15% 10% 15% 20% AUCAMP, DELLENBACKITNEI' 5 File#20-1928 RECONCILIATION AND FINAL VALUE CONCLUSIONS RECONCILIATION AND FINAL VALUE CONCLUSIONS The approaches provided the following value estimations for the subject property. VALUE INDICATIONS Cost N/A N/A N/A Sales Comparison $860,000 $832 $60 Income Capitalization N/A N/A N/A Market Value Conclusion $860,000 $832 $60 The quality of market data in these approaches is good, and the methods of analysis are appropriate and reasonable. The sales comparison approach includes sale prices above and below the subject's value on a per square foot basis as well as above and below the subject's value on an absolute basis. The sales data are good and the value is well supported. The sales comparison approach provides nearby sales, and all have the same highest and best use as the subject, which is interim use of the existing improvements until the property can be redeveloped. After careful and thorough investigation and analysis, we estimate market value for the fee simple interest in the subject real property in its "as is" condition, subject to assumptions and contingent and limiting conditions as well as any extraordinary assumptions and hypothetical conditions, as explained in this report, as of October 26, 2020, is: EIGHT HUNDRED SIXTY THOUSAND DOLLARS ($860,000) AUCAMP, DELLENBACKITNEI' 53 File#20-1928 NORMAL MARKETING PERIOD AND REASONABLE EXPOSURE TIME NORMAL MARKETING PERIOD AND REASONABLE EXPOSURE TIME Normal marketing period is the most probable amount of time necessary to expose a property, in its entirety, to the open market in order to achieve a sale. Implicit in this definition are the following characteristics. 1. The property will be actively exposed and aggressively marketed to potential purchasers through marketing channels commonly used by sellers of similar type properties. 2. The property will be offered at a price reflecting the most probable markup over market value used by sellers of similar type properties. 3. A sale will be consummated under the terms and conditions of the definition of market value. The Market section has a chart showing median DOMs for similar sales in South Florida have been 12 months or less. Marketing times for one of the comparable sales in the sales comparison approach was less than 12 months; the marketing periods for the remaining sales were not available. Most current listings with marketing periods exceeding 12 months have listing prices much higher than market prices. Market participants report relatively good demand for similar properties and report marketing periods are currently less than 12 months for similar properties. We conclude a reasonable marketing time for sale of the subject property in its "as is" condition and at a price similar to the estimate of market value is 12 months or less. Exposure time is the amount of time likely to have been experienced for sale of the subject property on the valuation date. We estimate a reasonable exposure time is 12 months or less based on the same market data. AUCAMP, DELLENBACKI NEI' 5 File#20-1928 PART 3: ADDENDUM CERTIFICATION I certify that, to the best of my knowledge and belief: ■ The statements of fact contained in this report are true and correct. ■ The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. ■ 1 have no present or prospective interest in the property that is the subject of this report, and I have no personal interest with respect to the parties involved. ■ 1 have no bias with respect to any property that is the subject of this report or to the parties involved with this assignment. ■ My engagement in this assignment was not contingent upon developing or reporting predetermined results, a specific valuation, or the approval of a loan. ■ My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. ■ 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 Standards of Professional Appraisal Practice of the Appraisal Institute. ■ The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. ■ The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the State of Florida. ■ The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. ■ Jonathan Whitney made a personal, visual inspection of the readily accessible areas of the property that is the subject of this appraisal. ■ No one else provided significant real property appraisal or appraisal consulting assistance to the person signing this certification. ■ As of the date of this report, I have completed the continuing education program of the State of Florida. AUCAMP, DELLENBACKI NEI' 55 File#20-1928 CERTIFICATION ■ As of the date of this report, Jonathan Whitney has completed the continuing education program of the Appraisal Institute. ■ The undersigned has not provided services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period preceding acceptance of this assignment. November 12, 2020 Jon, 'han Whitney, MAI State-certified General Real Estate Appraiser RZ2943 File#20-1928 CONTINGENT AND LIMITING CONDITIONS CONTINGENT AND LIMITING CONDITIONS This appraisal is subject to the following contingent and limiting conditions: 1. The legal description and maps are assumed to be correct. 2. No responsibility is assumed for matters which are legal in character, nor is any opinion rendered as to title, which is assumed to be good and marketable. Any existing liens or encumbrances have been disregarded, and the property is appraised as free and clear. This appraisal is made, assuming that all public improvements of any kind affecting the property appraised are fully paid for, unless otherwise specifically set forth in the property description. 3. No survey has been made of the property on behalf of the appraisers and no responsibility is assumed in connection with such matters. The sketches contained in this report are for illustrative purposes only and are included to assist the reader to better visualize the property. The information furnished by others is believed to be reliable and no responsibility is assumed for its accuracy. 4. In this report, the distribution of the total valuation between land and improvements applies only under the existing program of utilization. The separate valuations for land and improvements must not be used in conjunction with any other appraisal and are invalid if so used. 5. Possession of this report, or a copy thereof, does not carry with it the right of publication, nor may it be used for any purpose by any but the recipient without written consent of the appraiser. 6. The contract for appraisal, consultation, or analytical service is fulfilled and total fee is payable upon completion of the report. The appraisers will not be required to give testimony in court or hearing because of having made the appraisal in full or in part, nor engage in post- appraisal consultation with the client or third parties, except under separate and special arrangement and at additional fee. 7. The appraisers may not divulge material contents of the report, analytical findings or conclusions or give a copy of the report to anyone other than the client or his designee as specified in writing, except as may be required by the Appraisal Institute as it may request in confidence for ethics enforcement or by a court of law of body with the power of subpoena. 8. Liability of Aucamp, Dellenback & Whitney is restricted to the client. Aucamp, Dellenback & Whitney has no accountability or liability to any third party. 9. It is assumed there are no hidden or unapparent conditions of the property, subsoil or structures which make it more or less valuable. The appraiser assumes no responsibility for such conditions or engineering which might be required to cover these facts. No topographical survey was provided. 10. No environmental impact study, special market study or analysis, highest and best use analysis or feasibility study has been requested or made unless otherwise specified in an agreement for services or in the report. The appraiser reserves the unlimited right to alter, amend, revise or rescind any of the statements, findings, opinions, values, estimates or AUCAMP, DELLENBACKI NEI' 57 File#20-1928 CONTINGENT AND LIMITING CONDITIONS conclusions upon any subsequent such study or analysis or previous study or analysis subsequently becoming known to him. 11. The market value estimated and the cost used are as of the date of the estimate of value. All dollar amounts are based on the purchasing power and price of the dollar as of the date of the value estimate. 12. This appraisal expresses our opinion and employment to make this appraisal was in no way contingent upon reporting a predetermined value or conclusion. The fee for this appraisal or study is for the service rendered and not for time spent on the physical report. 13. The value estimated in this appraisal report is gross without consideration given to any encumbrance, restriction, or question of title unless specifically defined. The estimate of value in the appraisal report is not based in whole or in part upon race, color or national origin of the present owners or occupants of properties in the vicinity of the property appraised. 14. Responsible ownership and competent property management are assumed. 15. It is assumed that there is full compliance with all applicable federal, state and local environmental regulations and laws, unless noncompliance is stated, defined and considered in the appraisal report. 16. It is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless a non-conformity has been stated, defined and considered in the appraisal report. 17. It is assumed that all required licenses, certificates of occupancy and consents or other legislative or administrative authority from any local, state or national government or private entity or organization have been or can be obtained or renewed for any use on which the value estimate contained in this report is based. 18. It is assumed that the utilization of the land and improvements is within the boundaries of the property lines, that the property described in that there is no encroachment or trespass unless noted in the report. 19. Authentic copies of this report are signed in ink. 20. Unless otherwise stated in this report, the existence of hazardous substances, including without limitation asbestos, polychlorinated biphenyls, petroleum leakage, or agricultural chemicals, which may or may not be present on the property, or other environmental conditions, were not called to the attention of nor did the appraiser become aware of such during the appraiser's inspection. The appraiser has no knowledge of the existence of such materials on or in the property unless otherwise stated. The appraiser, however, is not qualified to test such substances or conditions. If the presence of such substances, such as asbestos, urea formaldehyde foam insulation, or other hazardous substances or environmental conditions may affect the value of the property, the value estimated is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value. No responsibility is assumed for any such conditions, nor for any expertise or engineering knowledge required to discover them. AUCAMP, DELLENBACKITNEI' 58 File#20-1928 CONTINGENT AND LIMITING CONDITIONS 21. The Americans with Disabilities Act (ADA) became effective January 26, 1992. The appraisers have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property, together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon value of the property. Since the appraisers have no direct evidence relating to this issue, possible noncompliance with the requirements of ADA in estimating the value of the property has not been considered. 22. The report may contain estimates of prospective value for the subject property. Forecasts and prospective values are based upon current market conditions and trends. Aucamp, Dellenback & Whitney cannot be held responsible for unforeseeable events that alter market conditions prior to the prospective dates. 23. Acceptance and/or use of this appraisal report constitutes acceptance of the preceding conditions. AUCAMP, DELLENBACKI NEI' 59 File#20-1928 HYPOTHETICAL CONDITIONS AND EXTRAORDINARY ASSUMPTIONS HYPOTHETICAL CONDITIONS AND EXTRAORDINARY ASSUMPTIONS Hypothetical Conditions This appraisal is subject to the following hypothetical conditions: None Extraordinary Assumptions The following extraordinary assumption is important for supporting the value conclusion(s) in this report, and value conclusion(s) may be significantly affected without this extraordinary assumption. This appraisal is subject to the following extraordinary assumptions: None AUCAMP, DELLENBACKI NEI' 60 File#20-1928 DEFINITIONS DEFINITIONS Market Value The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby. • buyer and seller are typically motivated; • both parties are well informed or well advised, and acting in what they consider their own best interests; • a reasonable time is allowed for exposure in the open market; • payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and • the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. (Source: Interagency Appraisal and Evaluation Guidelines, Federal Register, Volume 75, No. 237, December 10, 2010) Bulk Value The value of multiple units, subdivided plots, or properties in a portfolio as though sold together in a single transaction. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 27) Market Rent The most probable rent that a property should bring in a competitive and open market reflecting the conditions and restrictions of a specified lease agreement, including the rental adjustment and revaluation, permitted uses, use restrictions, expense obligations, term, concessions, renewal and purchase options, and tenant improvements (TI). (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 140) Prospective Opinion of Value A value opinion effective as of a specified future date. The term does not define a type of value. Instead, it identifies a value opinion as being effective at some specific future date. An opinion of value as of a prospective date is frequently sought in connection with projects that are proposed, under construction, or under conversion to a new use, or those that have not yet achieved sellout or a stabilized level of long-term occupancy. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 180) Retrospective Value Opinion A value opinion effective as of a specified historical date. The term retrospective does not define a type of value. Instead, it identifies a value opinion as being effective at some specific prior date. Value as of a historical date is frequently sought in connection with property tax appeals, damage models, lease renegotiation, deficiency judgments, estate tax, and condemnation. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 201) AUCAMP, DELLENBACKITNEI' 61 File#20-1928 DEFINITIONS Investment Value The value of a property interest to a particular investor or class of investors based on the investor's specific requirements. Investment value may be different from market value because it depends on a set of investment criteria that are not necessarily typical of the market. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 121) Liquidation Value The most probable price that a specified interest in real property should bring under the following conditions: 1. Consummation of a sale within a short time period. 2. The property is subjected to market conditions prevailing as of the date of valuation. 3. Both the buyer and seller are acting prudently and knowledgeably. 4. The seller is under extreme compulsion to sell. 5. The buyer is typically motivated. 6. Both parties are acting in what they consider to be their best interests. 7. A normal marketing effort is not possible due to the brief exposure time. 8. Payment will be made in cash in U.S. dollars (or the local currency) or in terms of financial arrangements comparable thereto. 9. The price represents the normal consideration for the property sold, unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 132) Insurable Value A type of value for insurance purposes. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 119) Replacement Cost The estimated cost to construct, at current prices as of a specific date, a substitute for a building or other improvements, using modern materials and current standards, design and layout. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 197) Limited-Market Property A property(or property right) that has relatively few potential buyers. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 13 1) Special-Purpose Property A property with a unique physical design, special construction materials, or a layout that particularly adapts its utility to the use for which it was built; also called a special-design property. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 217) AUCAMP, DELLENBACKITNEI' 62 File#20-1928 DEFINITIONS Fee Simple Estate Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 90) Leased Fee Interest The ownership interest held by the lessor, which includes the right to receive the contract rent specified in the lease plus the reversionary right when the lease expires. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 128) Leasehold Interest The right held by the lessee to use and occupy real estate for a stated term and under the conditions specified in the lease. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 128) Real Property The interests, benefits, and rights inherent in the ownership of real estate. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 188) Personal Property Identifiable tangible objects that are considered by the general public as being "personal"—for example, furnishings, artwork, antiques, gems and jewelry, collectibles, machinery and equipment; all tangible property that is not classified as real estate.. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, pages 170) Intended Use The use or uses of an appraiser's reported appraisal or appraisal review assignment opinions and conclusions, as identified by the appraiser based on communication with the client at the time of the assignment. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 119) Intended User The client and any other party as identified, by name or type, as users of the appraisal or appraisal review report by the appraiser on the basis of communication with the client at the time of the assignment. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, pages 119) Hypothetical Condition A condition, directly related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date of the assignment results, but is used for the purpose of analysis. Hypothetical conditions are contrary to known facts about physical, legal, or economic characteristics of the subject property; or about conditions external to the property, such as market conditions or trends; or about the integrity of data used in an analysis. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 113) AUCAMP, DELLENBACKITNEI' 63 File#20-1928 DEFINITIONS Extraordinary Assumption An assumption, directly related to a specific assignment, as of the effective date of the assignment results, which, if found to be false, could alter the appraiser's opinions or conclusions. Extraordinary assumptions presume as fact otherwise uncertain information about physical, legal, or economic characteristics of the subject property; or about conditions external to the property such as market conditions or trends; or about the integrity of data used in an analysis. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 73) Prudent and Competent Management An owner, operator, or management company that maintains and uses real estate in a manner consistent with the manner in which typical buyers of similar properties would consider appropriate as measured by actual practices in the competitive market. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 180) Arm's Length Transaction A transaction between unrelated parties who are each acting in his or her own best interest. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 13) Surplus Land Land that is not currently needed to support the existing use but cannot be separated from the property and sold off for another use. Surplus land does not have an independent highest and best use and may or may not contribute to the improved parcel. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 227) Excess Land Land that is not needed to serve or support the existing use. The highest and best use of the excess land may or may not be the same as the highest and best use of the improved parcel. Excess land has the potential to be sold separately and is valued separately. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 80) Entrepreneurial Incentive The amount an entrepreneur expects to receive for his or her contribution to a project. Entrepreneurial incentive may be distinguished from entrepreneurial profit(often called developer's profit) in that it is the expectation of future profit as opposed to the profit actually earned on a development or improvements. The amount of entrepreneurial incentive required for a project represents the economic reward sufficient to motivate an entrepreneur to accept the risk of the project and to invest the time and money necessary in seeing the project through to completion. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, Sixth Edition, Chicago, 2015, page 76) AUCAMP, DELLENBACKITNEI' 6 File#20-1928 AREA DESCRIPTION AND ANALYSIS AREA DESCRIPTION AND ANALYSIS FLORIDA Florida is a major U.S. state as seen in population and employment figures. As of 2018, Florida's estimated population was 20,878,686 according to the ESRI. Among the 50 states, Florida is ranked as the fourth most populous state. Florida is forecasted to have an annual growth rate of 1.41% over the next five years. The majority of job growth in the next ten years likely will come in the service industry led by new jobs in business services, health care, and government employment. Manufacturing will continue to be a relatively reduced part of the state's economy. Florida's geography, climate, and location are important reasons for its population and economic growth. Florida's coastline with 1,197 miles along the Atlantic Ocean and Gulf of Mexico is the longest of any state, except Alaska. Temperature variations are mild, and the southern part of the state has a subtropical climate. Florida is strategically located for access to the Caribbean Islands as well as to South and Central America. SOUTH FLORIDA South Florida is the tri-county region consisting of Miami-Dade, Broward, and Palm Beach. The metropolitan area stretches from Miami to West Palm Beach, a distance of about 65 miles, and extends 15 to 20 miles west from the Atlantic Ocean. The three counties are the state's three most populous with an estimated population of 6,076,113, as of 2018, and comprised almost one-third of the state's population. The South Florida region experienced explosive growth starting in the 1950s when air- conditioned homes made round year living more comfortable. Moving forward, the tri-county region is forecasted to grow at a much slower pace than the past 70 years. Per ESRI, the average growth rate is projected to be between 1.05% and 1.25% during the next five years. Population growth has largely been migration from northern U.S. states and Canada as well as South American countries and Caribbean Islands. Economic growth in South Florida is centered on services and retail trade for tourists, seasonal residents, permanent residents and retirees. Real estate construction has been a strong economic contributor over the past 50 years. South Florida is also known as a major export/ import center for trade with South America and as an attractive location for some clean, high- tech industries. Within this region, a primary trend has been northward movement of population from Miami- Dade County into Broward County, and from Broward County into Palm Beach County. This trend accelerated with the dislocation of residents due to Hurricane Andrew in 1992. The movement continues today as residents seek less traffic congestion in comparison to Miami- Dade County. AUCAMP, DELLENBACKITNEI' 65 File#20-1928 AREA DESCRIPTION AND ANALYSIS PALM BEACH COUNTY Palm Beach County is located along Florida's southeast coast on the Atlantic Ocean to the east and Lake Okeechobee to the west. The county is located about 15 miles north of Fort Lauderdale, 40 miles north of Miami, 175 miles south of Orlando, and 270 miles south of Jacksonville. Palm Beach County, with approximately 1,974 square miles of land area, is one of the largest counties in the United States and is the third largest of Florida's 67 counties. Elevation changes range from 0-20 feet with the average elevation at 15 feet above sea level. The terrain is generally sandy and flat with some gently sloping coastal ridges. The county's subtropical climate has an average temperature of 75 degrees Fahrenheit. Winters are mild because of the proximity to the warm Gulf Stream currents of the Atlantic Ocean. Prevailing winds are from the east. Average annual rainfall is 62 inches. Palm Beach County contains 39 incorporated municipalities mostly located east of Florida's Turnpike. County government, mainly located within West Palm Beach, handles the unincorporated areas. Population growth has put constant pressure on government planning and services. Land Use Pattern Palm Beach County has a well-established area of urban development as well as a major nature reserve area and productive agricultural area. The urban corridor stretches along the eastern portion of the county while nature reserve and agricultural areas are located in the middle and western portions of the county. Several small coastal communities in Palm Beach County were initially developed in the early 1900s. These small cities and towns were separated from each other with agricultural land or vacant land. By about the 1980s, the land was developed and the coastal area become one continuous developed urban /suburban corridor. This corridor now represents continuous development from the municipalities of Boca Raton to Tequesta. Most undeveloped land is located to the west of this eastern urban / suburban corridor. Several eastern coastal downtown areas developed between the 1920s and the 1960s, including Boca Raton, Delray Beach, Boynton Beach, Lake Worth, and West Palm Beach, are now experiencing redevelopment and gentrification. The nature reserve area consists of a north-south corridor to the west of the urban corridor. This area consists of the large Loxahatchee National Wildlife Refuge in the south and central portion and several other natural areas in the north portion: Dupuis Reserve State Park, J.W. Corbett Wildlife Management Area, West Palm Beach Catchment Area, and Jonathan Dickinson State Park. The agricultural reserve area in southeast Palm Beach County produces vegetables and ornamental plants while the agricultural area in western Palm Beach County is active in sugarcane production. Belle Glade, Pahokee, and South Bay are the three communities within the western agricultural area. AUCAMP, DELLENBACKITNEI' 66 File#20-1928 AREA DESCRIPTION AND ANALYSIS Population Per ESRI, the county has an estimated population of 1,444,799 representing about 7% of the state's population. Population growth from 2018 to 2023 is projected at 1.24%, which is slightly less than the state's projected growth rate at 1.41%. The county's comparatively lower future growth rate reflects the county's advanced stage of development and diminishing supply of land available for development. Economy Palm Beach County has an employment base comprised mostly of several sectors: Trade, Transportation and Utilities; Professional and Business Services; Education and Health Services; and Leisure and Hospitality. These sectors are geared toward the seasonal and retiree segments that have been large part of the county's population. Per the Palm Beach County Business Development Board, Palm Beach County's labor force consists of over 700,000 people. The county's unemployment rate is 3.6% as of the end of 2017, which is less than the State of Florida at 3.7% and United States at 3.9%. Furthermore, the county's employment growth from December 2015 to July 2018 has been 1.9% annually. Housin The Palm Beach County Business Development Board indicates Palm Beach County has a total of 683,543 housing units with a homeowner vacancy rate of 2.4% and a rental vacancy rate of 9.74%. Per ESRI, the median home price in Palm Beach County in 2018 is $265,386, which is higher than the state median home price at $212,954. Services The county has good medical care facilities consisting of 34 hospitals and 1,992 physician offices. A recent trend in local health care is construction of satellite facilities with outpatient services. The School District of Palm Beach County is the 10th largest public school district in the United States. The District reports an annual enrollment of 193,000 students and 22,340 employees. Numerous private schools are also available. Overcrowding is present in some areas. Prominent academic colleges in the county consist of Florida Atlantic University in Boca Raton, Palm Beach State College with four branch campuses, Palm Beach Atlantic University in West Palm Beach, and Lynn University in Boca Raton. The county has many vocational, technical, and charter schools. Public water and sewer utilities are provided throughout the county by either incorporated municipalities, special districts, or by the county. Telephone service is provided by BellSouth and other telecommunication vendors. Standard electric service is generally available from Florida Power and Light. Natural gas is provided by main or delivered as liquefied petroleum gas by Peoples Gas System. Transportation in Palm Beach County consists of Palm Beach International Airport (PBIA), Palm Beach Park Airport, Palm Beach County Glades Airport, North County Airport, Boca Raton Airport, Palm Tran, Port of Palm Beach and Tri-Rail. PBIA is conveniently located to serve the air trade area of Palm Beach County and the four surrounding counties. The 600,000 square foot airport accommodates 28 aircraft gates with expansion potential for 24 gates. The airport reports a passenger count of 6.5 million in the past year (mid-2017 to mid-2018), which is an AUCAMP, DELLENBACKITNEI' 67 File#20-1928 AREA DESCRIPTION AND ANALYSIS increase of 2.7% year-over-year. The Boca Raton Airport, the Palm Beach Park Airport and the North County Airport are general aviation airports serving private and corporate airplanes. Palm Tran is a public bus service in Palm Beach County. Palm Tran has been in service since 1971, runs seven days a week serving more than 3,200 bus stops with 150 buses in Palm Beach County. It has a ridership of over 10 million passengers a year. Tri-Rail is also a means of public transportation in Palm Beach County. Formed in 1987, this light-rail system extends roughly 72 miles and runs parallel to Interstate 95 from West Palm Beach to Miami serving 18 stations. Ridership exceeded 4.2 million passengers in 2016. Brightline is a recently constructed privately-held high-speed rail service serving Miami, Fort Lauderdale and West Palm Beach. Future expansion involves service to Orlando and other Florida cities. Port of Palm Beach is one of the busiest container ports in Florida with over 2,500,000 tons of cargo shipped annually. The port also services over 500,000 cruise passengers. Trends Palm Beach County has well established urban and agricultural areas. Economic soundness is supported with a higher than average income, expanding employment centers, a wide range of commercial and public services and facilities, and many recreational opportunities. The county is poised for further growth. Future trends show modest population growth and a favorable outlook for Palm Beach County's economy. Population trends indicate further migration to the county will continue, and jobs will continue to increase and fuel economic growth in the county. Problems typically associated with growth will continue to challenge Palm Beach County. The major challenges are schools, transportation and utilities to meet the needs of a growing population. AUCAMP, DELLENBACKITNEI' 68 File#20-1928 AREA DESCRIPTION AND ANALYSIS Area in Squar-e-Miles:: 2,578 Population weo Lake Okeechobee(miles) 1;9'74 2016 ACS Annerzan Community Surveyj 1,44;x,=81'0 Average Max.Temp.: 83(f) 2010 Census 1,320,134 Average Low Temp.. 67(f) Average Temp.: 75(f) Population Projections Average Annual Percipitation: 82(iin.) 2020 1,465,944 Time Zone:: Eastern 2030 1,6191,0,94 2040 1,735,114 Meeting Facilities Reso,rts(HotelstLoclging FacflMes, 200 ResortsfHotelswith Meeting Space 50 Total Roons 17�0100 Convention Center Total Meeting Space 14,15flD0 Total Space(s,-f..) 35'O'no Medical(2016) Hospitals 34 Physicians'Offices, 1.,9,92 Dentists'Offices 756 Sex &Age f2016 Asst Financial 12017) Male 699.414 Banks, 55 Female 745,396 Branch Banking Offices 455 Under 5 74,578 Deposits(mIllions) $50,628 5-14 years 155.270 15-19 years 81.177 Labor Force X2016 3vg-) 20-34 years 251,216 Labor Force 715,513 35-44 years 164,543 Employment 676,285 45-59 years 291,552 unemployment Rate 4.8096 60-74 years 254,547 75+years '1711,927 Total Nonaghcultural Employment(thousands) 6081 Median age 44.7 Goods Produ&7g 53-5 Construction 34-3 Housing(201GACS) Manufacturing 119.It, Total housing units 683,543 Sen,ice Providing 554-6 Occupied housing units 536,446 Wholesale Trade 23-4 Vacant housing units 147,0,97 Retail Trade 79-7 Homeowner vacancy rate 2.4 Trans.,Warehousing&utilities. 123 Rental vacancy rate 97 Information 10-9 Average household size 2.65 Financial Act,vitL-9 39-8 Finance and Insurance 237 Economic (2016 ACS) Professionaland Busibess Services 110-0 County Average VVage 12016',k $51,843 Pro.,Scientific&Tech.Services 46-3 Median Family Income $70,930 Mngt..of Companies&Enterprises, 11-0 Per Capita Income $35,732 Adminustrative and Waste Services 52-7 Mediian Earnings,For Male Education and Health Services 96.9 Full Time.Year-Round Workers $45,116 Leisure and Hospitality 86-2 Median Earnings For Femake Accommadalibn&Food Services, 68-0 FuIl-Time,Year-Round Workers $39,032 Other Serviicess 327 Education(2016 ACS) S-.—.7�, Foi�Dep.,tMYF— -,Opp�MW4,US C--F--A—e— E nroUrn ent(K.-12) 209,950 C.—Ity Sur-y 201 R M—grpNc EaM�;1-ft—-e—ry 20 s7,Fd— Education attainment-25 years+ 1,054:130 Dep..t:---C.Wdl- Y 0 J.-20"7,P..2—b C—ty C--— and'lzltzri Eure %Bachelors degree OF Nigher 35.3% Business Development S card of Pa#,m Beach County,Inc. maw.lacib.org AUCAMP, DELLENBACK&WHITNEY 69 File#20-1928 AREA DESCRIPTION AND ANALYSIS ,nnti — :r, JAN F[a KA ' APR fAA JU UL. 7�aO SEP OCT w3v DEC ! 6 2.t 6i@.a.B2 �r�. 5 A0 0a",77 €�2 L,57- ,X�s ,0n 4,5E3 X33'12 20TO 60,476 700502 099237 694,01 1696,424 1 6942E'D 701864 NSA',21 703926 ir0Fa0561a'14no— 010,7 721'1.297 724446 17282,35 72605S 726,823 1 729,A397 r2a. d7 1 72S,124 726-927 422,244 1721ml 7 LLL Source:Laval Area UareY'pI srrr7ena;5t tisS's ,r'IotIda oepartment of ftonornicpfiponunAy t' a e� 5^ fro" Po 11 ,ettPV FEE MAR &PR k141tiN JUN, -ISL ALG SEP OCT 7NOVC EO�2C,15• 52 t 50 d..7 5.'i 5.2 5.6 a.5 5..2' 4,9 Cs C,iC. ^.9 d 5 d 5 d..'e. 4,2 =_'.9 5,2' ®.1 5 Yi 1 t 47 d.7 4.2 39 1d ,.3 4� a.E 3.3 gL Source:.L'onA Area UnetxtplaVrnant 5137.i5tics,Florida uepartrrm-Ent=af Economic Opportuni; Pailam Mach untyp�State and.tJaslim Ltrm§mpinysenartw R,atTMampariara17' Irk 5.0 4 ,'_' �:. ;. .n�` �_r. �� r qhs •. :. A513.....`' 4.3 4.6 33.` 4J0 4.1"; APPRAISER QUALIFICATIONS AND LICENSE APPRAISER QUALIFICATIONS AND LICENSE QUALIFICATIONS OF JONATHAN D. WHITNEY, MAI State-certified General Real Estate Appraiser, RZ 2943 JONATHAN D. WHITNEY, MAI ,= Aucamp, Dellenback & Whitney u 1900 NW Corporate Blvd, Suite 215E Boca Raton, FL 33431 � ion(a-)adw-appraisers.com 561-609-2884 Professional Experience Aucamp, Dellenback & Whitney, Boca Raton, FL, 2003 - Present Real Estate Appraisers & Consultants • Principal, 2016 - Present • Commercial Real Estate Appraiser, 2003 - Present Jonathan Whitney is approaching 20 years of valuing commercial real estate in the South Florida market. He heads the team of six commercial real estate appraisers for independent Aucamp, Dellenback & Whitney (ADW), and values all major real property types: industrial, office, retail, and multifamily. Valuation assignments also include vacant development sites, residential subdivisions /condominiums, mixed-use buildings, and special-purpose properties. His partner, David Aucamp, SRA, heads the residential side of their firm with a separate team of seven residential appraisers. ADW's primary service area includes the tri-county South Florida region (Miami-Dade County, Broward County, and Palm Beach County). Clients mostly include lenders, but also include investors, property owners, developers, brokers, attorneys, CPAs, and associations. Real estate appraisal and consulting assignments involve estimating market value and-or market rent, and providing expert witness testimony. Valuation assignments range between relatively straight forward assignments to multiple-phased projects with complex cash flow considerations. Education Master in Arts in Business, University of Florida, 2000 Bachelor of Science in Economics, University of Florida, 1999 Boca Raton Community High School, 1995 AUCAMP, DELLENBACKITNEI' 71 File#20-1928 APPRAISER QUALIFICATIONS AND LICENSE Activities and Affiliations Florida State-certified General Real Estate Appraiser, RZ 2943, 2006 - Present Florida State-registered Associate Appraiser, RI 11475, 2003 - 2006 Appraisal Institute • Board of Directors, South Florida Chapter, 2018 - Present • Designated Member (MAI), 2013 - Present • Associate Member, 2004 - 2013 Planning and Zoning Board, City of Boca Raton • Member, 2019 - present Zoning Board of Adjustment, City of Boca Raton • Vice Chair, 2017 - 2018 • Member, 2013 - 2018 Urban Land Institute (ULI) • Associate Member, 2019 - Present Commercial Real Estate Development Association (NAIOP) • Member, 2019 - Present Boca Raton Federation of Homeowners • Executive Board Member, 2018 - 2019 Boca Raton Chamber of Commerce Member • Member (ADW), 1990s - Present • Leadership Boca, Class of 2016 National Association of Divorce Professionals (NADP) Member • Member, 2017 - 2019 Boca Raton Downtown Rotary Club Member • Member, 2016 - Present • Mayors Ball Committee Member, 2016 - Present Spanish River Church • Elder, Spanish River Church, 2017 - Present • Member/Various Leadership Roles, 2011 - Present AUCAMP, DELLENBACKI NEI' 72 File#20-1928 APPRAISER QUALIFICATIONS AND LICENSE Recent Appraisal Institute Courses (sampling of recent courses) USPAP (Uniform Standards of Professional Appraisal Practice) Update, 2018 Florida State Law for Real Estate Appraisers, 2018 Business Practice & Ethics, 2018 Appraising Automobile Dealership, 2018 Supervisory Appraiser/Trainee Appraiser Course, 2018 Technology Tips for Real Estate Appraisers, 2018 Advanced Applications, 2009 Advanced Income Capitalization, 2009 Advanced Sales Comparison and Cost Approaches, 2008 Report Writing and Valuation Analysis, 2008 Office Building Valuation: A Contemporary Perspective, 2007 RICK.SCOTT,GOVERNOR JONATHAN ZACHEM,SECRETARY = � b' pr STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PRQFESSIONAL REGULATION FLORIDA REALE 1ATEAPPRAISAL BD THE CERTIFIED GENERAL APF R I ,E9 H REIN 15 CI`R 1FIED UNDER THE PROVI51 NS OF,CHAPTE,k,'475,FLOW' A'STATUTES 61, WH i ` ` "C 4, `Hip► JD UP AS FAU BLVD' LFCEItit�aE NU' 13`ER 19�� EXPIRATI€ N`C}ATE. li1AEI'BR 30,22D Always verify licenses online at ivlyFloridaticense.cam Atsx, Do not after this document in any form. This is your license.It is unlawful for anyone other than the licensee to rase this document. AUCAMP, DELLENBACKITNEI' 73 File#20-1928 CONFIRMATORY GROUNDWATER SAMPLING REPORT OF CRA PROPERTY VICINITY OF 115 NORTH FEDERAL HIGHWAY BOYNTON BEACH, PALM BEACH COUNTY, FL 33435 PCN #:s 08-43-45-28-03-006-0010, 08-43-45-28-03-001-0080 AND 08-43-45-28-03-001-0100 FOR BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY 710 NORTH FEDERAL HIGHWAY BOYNTON BEACH, FL 33435 PREPARED BY NUTTING ENVIRONMENTAL OF FLORIDA, INC. 1310 NEPTUNE DRIVE BOYNTON BEACH, FL 33426 SEPTEMBER 16, 2021 Contamination Assessments p FLt3mik2A, INa. MoMtoring wefis Y0o k aur fire'Ir IA f A ofd Evaluation `Environmental Property Assessments Contamination Assessments ^Remediation Monitoring Wells ~|AQ/Muld Evaluation rmurr/wG ENVIRONMENTAL OF FLORIDA, INC, September 1G. 2O21 Boynton Beach Community Redevelopment Agency 71ONorth Federal Highway Boynton Beach, FL33436 Attn: Ms. Theresa Utterbaok Re: Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach, Palm Beach County, FL33436 PCN#s: 08-43-46-28-03-006-0010. 08-43-46-28-03-001-0080 and 08-43-45-28-03-001-0100 NEF#: GQG7.13 Dear Ms. Utterbaok: NUTTING ENVIRONMENTAL OF FLORIDA, INC. (NEF) has performed a Confirmatory Groundwater Sampling Report at the above referenced project in general accordance with the scope and limitations of ASTM Practice E-1903 and in accordance with your authorization, received June 8, 2021. This report completes NEF'o services at the project as set forth inNEF'oproposal. The purpose of this project is to develop additional information regarding elevated levels of dieldrin and arsenic in groundwater located at the subject site, as identified in, as identified in NEF's Limited Soil and Groundwater Assessment Report dated January 1G. 2O2O. Please see this report for further details regarding NEF's methodology. For further information regarding our company's qualifications, please contact the undersigned atyour convenience. 1310Nep*uime Drive ° Boynton Beach,F|orida 33426 ° 561-732'7300 Bruwa/d954'782'72VO ^ St.Lucie 772-4O8')V5V ~ K4iami'Dade505'557']V83 ~ Fax 561-737-9975 Toll free:1-877'MUTT|NG(688'8404) ' wpu,w^nef.cc ' inhu@ne[cc Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach,Palm Beach County, FL 33435 N EF#6967.13 August 2021 TABLE OF CONTENTS 1.0 INTRODUCTION........................................................................................................................................2 1.1 Purpose and Scope..................................................................................................................................................2 1.2 Special Terms and Conditions..................................................................................................................................2 1.3 Limitations and Exceptions of Assessment..............................................................................................................2 1.4 Limiting Conditions and Methodology Used............................................................................................................3 2.0 SUMMARY OF SITE INFORMATION ..........................................................................................................5 2.1 Site Description.......................................................................................................................................................5 2.2 Prior Environmental Assessments........................................................................................................................5 3.0 SCOPE OF WORK......................................................................................................................................6 3.1 Monitor Well Installation and Groundwater Sampling Activities.............................................................................6 4.0 RESULTS..........................................................................................................................................................7 4.1 Groundwater Assessment Results...........................................................................................................................7 5.0 CONCLUSIONS AND RECOMMENDATIONS...............................................................................................8 5.1 Summary of Groundwater Assessment Information............................................................................................8 5.2 Conclusions and Recommendations.....................................................................................................................9 APPENDICES........................................................................................................................................................ 10 AppendixA-Tables and Figures.................................................................................................................................11 Appendix B—Benzo(a)pyrene Conversion Tables..........................................................................................................1 Appendix C—FDEP Groundwater Sampling Logs...........................................................................................................2 Appendix D-Laboratory Analytical Results and Chain of Custody Form.......................................................................3 Nur 1—ENVIRONMENTAL F FLOR—A,INC. Your Project Is Ocr Commitment. Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach,Palm Beach County, FL 33435 N EF#6967.13 August 2021 1.0 INTRODUCTION 1.1 Purpose and Scope The purpose of this project is to develop additional information regarding elevated levels of dieldrin and arsenic in groundwater located at the subject site, as identified in, as identified in NEF's Limited Soil and Groundwater Assessment Report dated January 16, 2020. 1.2 Special Terms and Conditions Independent examination of the facts developed for the subject site is the principal component of a due diligent environmental assessment effort. NEF has made a diligent effort to obtain and verify as many facts pertinent to an environmental evaluation of the subject site as possible, given time and physical constraints.A rigorous effort has been made to identify recognized environmental conditions on the subject site, but because of limitations within the data used to evaluate the property and limitations inherent in the quantitative tests performed, it is not possible to guarantee that the site is completely free of recognized environmental conditions. Our client for this Confirmatory Groundwater Sampling investigation was: Boynton Beach Community Redevelopment Agency 710 North Federal Highway Boynton Beach, FL 33435 Attn: Ms. Theresa Utterback The contents of this report are for the exclusive use of the clients and their authorized representatives. Information conveyed in this report should not be used or relied upon by other parties without the written consent of NUTTING ENVIRONMENTAL OF FLORIDA, INC. 1.3 Limitations and Exceptions of Assessment The Confirmatory Groundwater Sampling Report was conducted in general accordance with the scope of work described above and in substantive accordance with the scope and limitations of ASTM Practice E-1903 of the above referenced site, the property. The work conducted by NEF is limited to the services authorized by the client, and no other services beyond those explicitly stated should be inferred or implied. A recommendation that further assessment activities are not warranted or mandatory at the subject site in no way constitutes an assurance by NEF that recognized environmental conditions are not present at the subject site, but reflects NEF's opinion, based upon the evidence encountered, that there was a low likelihood that recognized environmental conditions are present on the property at the time of the evaluation. Subsurface conditions can vary significantly between test locations for a variety of reasons including potential latent, undisclosed conditions. The client is at liberty to request additional tests in an effort to reduce this potential variability. Future use and changes to the property were not considered in this scope of work unless specifically stated to the contrary in our proposal. It is possible that documented and/or latent soil and groundwater quality conditions and underground structures (e.g. septic tanks, oil water separators, etc.), may play a significant role in permitting for and physical implementation of future property use. NEF would be pleased to provide additional consulting services upon receipt of specific written request and following receipt of details for the proposed land use and/or modifications. Nur 1—ENVIRONMENTAL F FLOR—A,INC. Your Project Is Ocr Commitment. Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach,Palm Beach County, FL 33435 N EF#6967.13 August 2021 The client should be aware that the information contained in this report is being held in confidence. NEF has no obligation under Florida law to report to regulatory agencies the presence of limited contamination detected during the performance of environmental site assessments. However,the client or owner of the property may have such a reporting obligation. A legal opinion relative to these responsibilities should be obtained by the client or owner. NEF warrants that the services performed by NEF were conducted in a manner consistent with the normal level of care and skill ordinarily exercised by members of this profession in Florida at the time and under the conditions in which the services were performed. No other warranties, expressed or implied, are made. 1.4 Limiting Conditions and Methodology Used It is understood that an environmental assessment generates information upon which to form an opinion regarding site conditions and does not lead to full knowledge of property conditions. There can be no assurance nor does NEF offer any assurance that property conditions do not exist or could not exist in the future which were undetected at the time of the assessment and could lead to liability in connection with the property. In conducting the investigation, NEF analyzed records and site conditions in accordance with industry accepted Environmental Site Assessment practice. We cannot predict what actions, if any, a given regulatory agency may presently take or what standards and practices may apply to the property in the future nor do we accept liability for the consequences of such changes should they occur. The findings of this investigation are based upon conditions identified at the time of our study and may not necessarily represent concealed conditions or conditions which may develop subsequent to our study. All field testing performed as a part of the scope of work of this investigation was conducted in general accordance with Florida Department of Environmental Protection (FDEP) Standard Operating Procedures (SOP) for Field Activities (DEP-SOP-001/01). The client provided NEF with a site diagram defining the boundaries of the subject property. Resurveying or confirmation of the actual legal boundaries of the subject property was not included as a part of this investigation. NEF will not be held responsible for inaccuracies in site boundary information provided by the client. Certain sections of the report may contain information derived from regulatory agency databases and files, historical information resources, laboratories and interviews with persons familiar with the subject property. NEF cannot be held responsible forthe accuracy or completeness of the information from these sources.Therefore, NEF assumes no liability for any loss resulting from errors or omissions arising from the use of inaccurate or incomplete information or misrepresentations or omissions made by others. Field headspace testing, performed with a Photo Ionization Detector (PID) or Flame Ionization Detector (FID), is frequently used to screen soil samples for the presence of certain Volatile Organic Compounds (VOCs) present in gasoline, diesel fuel, and some solvents. Field headspace testing is conducted by NEF in accordance with procedures outlined in Chapter 62-770 Florida Administrative Code (FAC) for the presence of detectable concentrations of VOCs. An in-line condensable carbon filter is used to obtain filtered readings to correct for the presence of naturally occurring VOCs when using a FID. Net VOC readings are calculated by subtracting the filtered reading from the unfiltered reading for each sample. Although valuable in estimating the degree of impact from certain types of contaminants, many petroleum and non-petroleum contaminants cannot be detected with this method; therefore, the results of the field headspace testing should not be used to construe that the subject property is free of environmental contamination. Laboratory results are expressed in this report in parts per million (ppm, mg/L or mg/Kg) or parts per billion (ppb, ug/L or ug/kg). Field headspace screening results are expressed in parts per million (ppm). Sampling depths are expressed in feet below land surface (BLS). Test data presented in this report pertains to the actual soil and groundwater samples recovered at the subject site. Substantial variation in soil and groundwater quality can occur between test locations. NEF has attempted to exercise Nur 1—ENVIRONMENTAL F FLORroa,INC. Your Project Is Ocr Commitment. Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach,Palm Beach County, FL 33435 N EF#6967.13 August 2021 due care in the selection of test locations and test parameters to provide the basis for the opinions expressed in this report. Nur 1—ENVIRONMENTAL F FLOR—A,INC. Your Project Is Ocr Commitment. Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach,Palm Beach County, FL 33435 N EF#6967.13 August 2021 2.0 SUMMARY OF SITE INFORMATION 2.1 Site Description The subject site consisted of three parcels totaling approximately 1.58 acres (approximately 68,893 square foot). Northeast 1St Avenue was noted to transect the subject site (east-west direction), separating the property in a North Parcel and a South Parcel. The North and South Parcels of the subject site are currently developed with asphalt paved parking lots. 2.2 Prior Environmental Assessments The client provided NEF with a Phase I Environmental Site Assessment (ESA) Report performed several properties in the vicinity of the subject site, dated July 3, 2019. The Phase I ESA identified the potential for contamination encroachment onto the subject site from an existing service station located at 217 North Federal Highway and a former service station located at 101 North Federal Highway. Based on the findings of the Phase I ESA, Limited Soil and Groundwater Assessment activities were performed on the subject site to develop information regarding soil and groundwater quality which may have been impacted as a result of contamination encroachment from the offsite service station and former service station located to the north and the south of the subject site. A Limited Soil and Groundwater Assessment Report was performed on the subject site dated January 16, 2020, performed by NEF, concluded the following: "The soil assessment activities performed as part of this Limited Soil and Groundwater Assessment Report did not identify the presence of petroleum impacted soil and/or groundwater near the northeast and southeast corner of the subject site. However, laboratory analytical results of the groundwater samples collected as part of this investigation reported an elevated concentration of dieldrin in groundwater samples collected northeast of the subject site (at the GP-4 location) and arsenic along the southern property boundary of the subject site (at the GP-5 location). In the absence of the presence of other petroleum contaminants of concern the reported arsenic and dieldrin concentrations do not appear to be associated with a release of petroleum products from the adjacent existing and former service stations. Furthermore, a Phase 1 ESA performed by NEF on the subject site dated April 10, 2018, did not revealed evidence of historical uses that could be considered a source for the elevated arsenic and dieldrin concentrations in groundwater, identified in the Limited Soil and Groundwater Assessment Report. However, given as the reported dieldrin and arsenic concentrations exceed their respective GCTLs, it is NEF's opinion that it would be prudent to perform additional assessment in an attempt to confirm the reported contaminant concentrations." Nur 1—ENVIRONMENTAL F FLORroa,INC. Your Project Is Ocr Commitment. Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach,Palm Beach County, FL 33435 N EF#6967.13 August 2021 3.0 SCOPE OF WORK The assessment activities performed as part of this Confirmatory Groundwater Sampling Report, consisted of the installation and sampling of two temporary shallow water table monitoring wells to facilitate the collection of groundwater samples for laboratory analysis to confirm the previous contamination identified in groundwater at the subject site. 3.1 Monitor Well Installation and Groundwater Sampling Activities On July 27, 2021, NEF personnel installed two temporary shallow water table monitoring wells (designated as GP-4 and GP-5) on the subject site. Monitoring well GP-4 was installed at the former SB-4/GP-4 sample location and monitoring well GP-5 was installed at the former SB-5/GP-5 sample location as identified in NEF's Limited Soil and Groundwater Assessment Report, dated January 16, 2020 The monitoring wells were installed to a depth of approximately fourteen feet BLS through direct push technology using 1.5-inch diameter pre-packed ten foot long wells screens (0.010 inch slot,ASTM Thread)which was installed to bracket the water table (from approximately four and a half to fourteen and a half feet BLS), with a four and half foot PVC riser to the surface. Please see the attached figures for the specific groundwater sample locations. Specifically, NEF personnel collected groundwater samples for laboratory analysis as identified in the following table: Groundwater Soil Boring Laboratory Analysis" Area of Concern Sample ID Location GP-4 S134 Organochlorine Pesticides Location of previously identified elevated concentrations of Dieldrin GP-5 S13-8 Arsenic Location of previously identified elevated concentrations of Arsenic laboratory analytical methods: Organochlorine Pesticides per EPA Method 8081,and Arsenic per EPA Method 6020. Following the sampling event, the groundwater samples were delivered on ice to Pace Analytical, a state certified laboratory for laboratory analysis by two different laboratories within the Pace network of laboratories (Ormond Beach and Mt. Juliet). Chain of custody records were maintained to control the transfer of the groundwater samples. FDEP groundwater sampling logs and chain of custody records are attached. NEF was notified by Pace Analytical that the laboratory exceeded the hold time for the groundwater sample collected from GP-4 to complete the analysis for organochlorine pesticides. As such, Pace Analytical re-mobilized to the subject site on August 16, 2021 to collect an additional groundwater sample from the GP-4 for laboratory analysis for organochlorine pesticides. Nur 1—ENVIRONMENTAL F FLORroa,INC. Your Project Is Ocr Commitment. Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach,Palm Beach County, FL 33435 N EF#6967.13 August 2021 4.0 RESULTS 4.1 Groundwater Assessment Results Laboratory analytical results of the groundwater samples collected from GP-4 and GP-5 as part of this investigation are summarized below: • Organochlorine Pesticides Laboratory analytical results of the groundwater samples collected from GP-4 on July 26, 2021 and August 16, 2021 were reported below the laboratory method detection limits and/or the Groundwater Cleanup Target Levels (GCTL), as listed in Chapter 62-777, Florida Administrative Code (FAC) for all parameters tested with the exception of dieldrin in the groundwater sample collected on July 26, 2021, which reported dieldrin at an estimated concentration (reported between the Method Detection Limit and the Practical Quantitation Limit) of 0.0072 lag/L, which is slightly above the GCTL for dieldrin of 0.002 lag/L. • Arsenic Laboratory analytical results of the groundwater samples collected from GP-5 reported arsenic at a concentration of 8.11 lag/L and 6.5 lag/L, respectively, which is below the GCTL for arsenic of 10 lag/L. The laboratory analytical data for organochlorine pesticides and arsenic collected as part of this investigation and the prior assessment activities are summarized in the attached Table 1. Copies of the laboratory report and chain of custody form are attached. Nur 1—ENVIRONMENTAL F FLOR—A,INC. Your Project Is Ocr Commitment. Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach,Palm Beach County, FL 33435 N EF#6967.13 August 2021 5.0 CONCLUSIONS AND RECOMMENDATIONS The assessment activities performed as part of this Confirmatory Groundwater Sampling Report, consisted of the the installation and sampling of two temporary shallow water table monitoring wells for laboratory analysis for specific contaminants of concern to develop additional information regarding elevated levels of dieldrin and arsenic in groundwater located at the subject site, as identified in, as identified in NEF's Limited Soil and Groundwater Assessment Report dated January 16, 2020. 5.1 Summary of Groundwater Assessment Information Laboratory analytical results of groundwater samples collected as part of NEF's Limited Soil and Groundwater Assessment Report dated January 16, 2020 were reported at or below the laboratory method detection limits and/or the applicable Groundwater Cleanup Target Levels (GCTLs), as listed in Chapter 62-777, Florida Administrative Code, for all parameters tested with the exception of dieldrin in groundwater samples collected from GP-4 and arsenic in groundwater samples collected from GP-5. In an attempt to develop additional information regarding the elevated contaminant concentrations reported in groundwater samples collect at the GP-4 and GP-5 groundwater sample locations, NEF installed two conventional shallow water table monitoring wells (designated as GP-4 and GP-5) at the original groundwater sample locations to facilitate the collection of confirmatory groundwater samples to attempt to confirm the reported dieldrin and arsenic concentrations. Laboratory analytical results of the groundwater samples collected from GP-4 and GP-5 as part of NEF's Limited Soil and Groundwater Assessment Report dated January 16, 2020 were this investigation are summarized below: • Organochlorine Pesticides Dieldrin was reported at a concentration of 0.022 lag/L in groundwater samples collected from GP-4 on December 23, 2019, which is above the Groundwater Cleanup Target Level (GCTL) for dieldrin of 0.002 lag/L, as listed in Chapter 62- 777, Florida Administrative Code (FAC). Laboratory analytical results of the groundwater samples collected from GP-4 on July 26, 2021 and August 16, 2021 were reported below the laboratory method detection limits and/or the Groundwater Cleanup Target Levels (GCTL), as listed in Chapter 62-777, Florida Administrative Code (FAC) for all parameters tested with the exception of dieldrin in the groundwater sample collected on July 26, 2021, which reported dieldrin at an estimated concentration (reported between the Method Detection Limit(MDL) of 0.0050 lag/L and the Practical Quantitation Limit (PQL) of 0.0099 lag/L) of 0.0072 lag/L, which is slightly above the GCTL for dieldrin of 0.002 lag/L. However, in accordance with Chapter 62-780, FAC, when the Cleanup Target Level is lower than the PQL, the PQL becomes the alternative Cleanup Target Level, as long as it is the best achievable detection limit. Given the reported PQL of 0.0099 lag/L meets the Target PQL for dieldrin(in FDEP Analytical Methods Guidance document)of 0.1 lag/L,the concentration of dieldrin meets the alternative Cleanup Target Level. • Arsenic Arsenic was reported at a concentration of 64.1 lag/L in groundwater samples collected from GP-5 on December 23, 2019, which is above the Groundwater Cleanup Target Level (GCTL) for arsenic of 10 lag/L, as listed in Chapter 62- 777, Florida Administrative Code (FAC). Laboratory analytical results of the groundwater samples collected from GP-5 on July 26, 2021 reported arsenic at a concentration of 8.11 lag/L and 6.5 lag/L, respectively, which is below the GCTL for arsenic of 10 lag/L. As such, based Nur 1—ENVIRONMENTAL F FLOR—A,INC. Your Project Is Ocr Commitment. Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach,Palm Beach County, FL 33435 N EF#6967.13 August 2021 on the results of the confirmatory groundwater sampling activities, the elevated arsenic concentration reported in the groundwater samples collected on December 23, 2019, as part of the original scope of work could not be confirmed. 5.2 Conclusions and Recommendations The groundwater assessment activities performed as part of this Confirmatory Groundwater Sampling Report were intended to develop additional information regarding the reported arsenic and dieldrin concentrations reported in groundwater samples collected from GP-4 and GP-4, collected as part of assessment activities documented in NEF's Limited Soil and Groundwater Assessment Report dated January 16, 2020. Laboratory analytical results collected as part of this investigation did not confirm the elevated arsenic concentration in groundwater at the TP-5 groundwater sample location. Although dieldrin was detected in one out of the two of the confirmatory groundwater samples collected, the dieldrin concentration was reported as an estimated concentration as the concentration was reported below the Practical Quantitation Limit and as such would be considered to meet the (alternative) Groundwater Cleanup Target Level for dieldrin. Given the above and that prior Phase I Environmental Site Assessments did not reveal evidence of historical uses that could be considered a source for the elevated dieldrin concentration in groundwater, it is NEF's opinion that additional contaminant related soil and/or groundwater investigation at these test locations is not mandatory at this time. NEF appreciates this opportunity to be of service. Should you have any further questions or concerns, please do not hesitate to contact the undersigned at your convenience. Sincerely, NUTTING ENVIRONMENTAL OF FLORIDA, INC. /t,'e Borkowski R4 hard G. foss;, P.E. ect Manager President A ane i ce President Filename: Boynton Beach CRA, 115 N Federal Highway, Boynton Beach, Confirmatory GW Sampling, Sept 2021 Nur 1—ENVIRONMENTAL F FLOR—A,INC. Your Project Is Ocr Commitment. Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach,Palm Beach County, FL 33435 N EF#6967.13 August 2021 APPENDICES Nur 1—ENVIRONMENTAL F FLOR—A,INC. Your Project Is Ocr Commitment. Confirmatory Groundwater Sampling Report CRA Properties Vicinity of 115 North Federal Highway Boynton Beach,Palm Beach County, FL 33435 N EF#6967.13 August 2021 Appendix A - Tables and Figures Nur 1—ENVIRONMENTAL F FLOR—A,INC. Your Project Is Ocr Commitment. 5 � tkt� ��t�5��t � ;I �� + t }ti ��i•- Iq��\lI ��i� J i, .s _ � � ��t *r S i � I f GP-4 i I t - Sr W 0' 30' 60' Approximate Scale 1"= 30' NUTTING ENVIRONMENTAL CRA Properties Proposed OF FLORIDA, INC. Vic of 115 North Federal Highway Soil Boring FJG.I. Boynton Beach, Palm Beach County, FL Location Ma " r°1s � ° N E F #: 6967.13 p t1 1,r it i Ir r S l r, II 4 i 0' 30' 60' Approximate Scale 1"= 30' NUTTING ENVIRONMENTAL CRA Properties Proposed OF FLORIDA, INC. Vic of 115 North Federal Highway Soil Boring FJG.I. Boynton Beach, Palm Beach County, FL Location Ma " r°1s � ° . N E F #: 6967.13 p t ssL �1r 6 - �� 7 r� k- r N7� i S13-1 V' -- - r ixt , F t ' S13-4 (s z i� �7 • SB-8 "� i i \ 3 t3 lop � 2 0' 40' 80' Approximate Scale 1"= 40' CRA Properties NUTTING ENVIRONMENTAL CRA OF FLORIDA, INC. 508 East Boynton Beach Boulevard Soil Boring FJG.I. Boynton Beach, Palm Beach County, FL Location Ma " r°1s � ° . N E F #: 6967.13 p k C)\ o Q Q - z z Q d o 0 0 6 d a a o _ / / / / 0 \ 2 9 d $ 3 S 2 3 z z § k g g g g R Jo 0 0 0 / \ . � LU CL CD ± ± Cl) G \ CL LLI x o 2 2 2 2 0 2 § R o $ q 7 $ R R / q / \ 0 E E CD E \ j \ ! 0 6 6 6 6ch & E e C / � 2 � LLE ƒ e \ 2 ' g § o ) \ § ■ r / k k k k z z \ I ) ) u 0 0 0 0 ] { ■ o 2 & z a 2 C4 - \ \ Nt R R \ 2 � OL < R = d \ \ CD % 0 0 0 0 \ \. o o < « 2 ) \ > k - / g / \ J p o \ r Q 2 \ f ch co w c 2 / } I \ L § j o \ / / \ / / \ \ d \ / / \ / / / \ 2 n C-4 ! / R / R R + ) { { / / § r o 2 7 a e G a § % o / r r CL ) k \ 07 J J J J \ E f ) .§ LO co 0o E J § § o a .. - m E / „ © o < z = Appendix C - FDEP Groundwater Sampling Logs Nuri—ENVIRONMENTAL F FSO —,INO. Your Project Is Ocr Commitment. DEP Form FD 9000-24: GROUNDWATER SAMPLING LOG SITE SITE NAME: 115 N Federal Hw LOCATION: 115 N Federal Hwy, Boynton Beach, FL,33435 WELL NO: GP-4 SAMPLE ID: GP-4 DATE: July 26,2021 PURGING DATA WELL TUBING WELL SCREEN INTERVAL I STATIC DEPTH PURGE PUMP TYPE DIAMETER(inches):1.5 DIAMETER(inches): 114 DEPTH:4.40 feet to 14.401!!t TO WATER(feet): IP . OR BAILER: P WELL VOLUME PURGE: I WELL VOLUME (TOTAL WELL DEPTH - STATIC DEPTH TO WATER) X WELL CAPACITY (only fill out if applicable) (14.40 feet- 5.44 feet) X 0.09 gallons/foot = 0,81 gallons EQUIPMENT VOLUME PURGE: 1 EQUIPMENT VOL.=PUMP VOLUME+(TUBING CAPACITY X TUBING LENGTH)+FLOW CELL VOLUME (only fill out if applicable) gallons+ gallons/foot X feet)+ gallons = gallons INITIAL PUMP OR TUBING FINAL PUMP OR TUBINGPURGING PURGING TOTALVOLUME DEPTH IN WELL(feet): 7.00 DEPTH IN WELL(feet): 7.00 INITIATED AT: 10:10 ENDED AT: 10:30 PURGED(gallons): 5.0 GUMUL. DEPTH COND, DISSOLVED VOLUME VOLUME PURGE TO pH TEMP. (circle units) OXYGEN TURBIDITY COLOR ODOR TIME PURGED PURGED RATE WATER (standard (gallons) units (OC) itmh� I /L r (LATUS) (describe) (describe) (gallons) (gpm) (feet) ) r .Is/ %aeration 10:22 10:22 3.0 510 US 5.57 7.58 27.97 420 2.21 5,78 Clear None 10:24 0.5 3.5 0,25 5.57 7.08 27.96 423 1.84 5.13 Clear None 10:26 0.5 4.0 0,25 5.57 6.97 27.95 45 1.75 4.87 clear None 10:28 0.5 4.5 0.25 5,57 1 6.80 27.94 1 427 1,73 3.78 Clear 10,30 0,5 5.0 0.25 5.57 1 6,65 27.94 425 1,59 3.30 Cloar None WELL CAPACITY(Gallons Per Foot): 0.75"=0,02; 1"=0.04; 1.25"=0.06; 2"=0.16; 3"=0.37; 4"=0,65; 5"=1.02; 6"=1.47; 12"=5.88 TUBING INSIDE DIA.CAPACITY .006; 1/2"=0.010; 5/8"=0.016 PURGING EQUIPMENT CODES: B Bailer; BP=Bladder Pump; ESP=Electric Submersible Pump; PP=Peristaltic Pump; 0=Other(Specify) SAMPLING DATA SAMPLED BY(PRINT)I AFFILIATION: SAMPL,ER(S)SIGNATURE(S): NO SAMPLI SAMPLING Tony Ruiz/NEF INITIATED AT: 10:31 ENDED AT: 10:33 PUMP OR TUBING TUBING FIELD-FILTERED: Y (N) FILTER SIZE: _larn DEPTH IN WELL(feet): 7,00 MATERIAL CODE: HOPE Filtration Equipment Type: FIELD DECONTAMINATIOW PUMP (Y) N TUBING Y (N)(replaced) DUPLICATE: (Y) N SAMPLE CONTAINER SPECIFICATION SAMPLE PRESERVATION(including wet ice) INTENDED SAMPLING SAMPLE PUMP METHOD CODE (mL per VOLUME USED ADDED VOL--- FINALANALYSIS AND/OR EQUIPMENT FLOW RATE -1 SAMPLE 9 MATERIAL I PRESERVATIVE TOTAL r minute) ID CODE CONTAINERS CODE IN mt_�H GP-4 2I A��'L Ice Dieldrin/80811 APP 4000ml- REMARKS: MATERIAL CODES: AG=Amber Glass; CG=Clear Glass; HDPE=High Density Polyethylene; LOPE=Low Density Polyethylene; PP=Polypropylene; S=Silicone; T=Tenon; 0=Other(Specify) SAMPLING EQUIPMENT CODES: APP=After(Through)Peristaltic Pump; B=Bailer; BP=Bladder Pump; ESP=Electric Submersible Pump; RFPP=Reverse Flow Peristaltic Pump; SM=Straw Method(Tubing Gravity Drain); 0=Other(Specify) NOTES: 1. The above do not constitute all of the information required by Chapter 62-160,F.A.C. 2. STABILIZATION CRITERIA FOR RANGE OF VARIATION OF LAST THREE CONSECUTIVE READINGS(SEE FS 2212,SECTION 3) pH:+0.2 units Temperature:+0.2 OC Specific Conductance: +5% Dissolved Oxygen:all readings<20%saturation(see Table FS 2200-2); optionally,t 0,2 mg/L or+ 10%(whichever is greater) Turbidity;all readings<20 NTU;optionally±5 NTU or+ 10%(whichever is greater) 62-160,800 F.A.C. Revision Date: January 2017 DEP Form FD 9000-24: GROUNDWATER SAMPLING LOG SITE SITE NAME: 115 N Federal Hwy LOCATION: 115 N Federal H,w.,Boynton Beach,FL,33435 WELL NO: GP-5 SAMPLE ID; GP-5 DATE: July 26,2021 PURGING DATA STATIC DEPTH PURGE PUMP TYPE WELL SCREEN INTERVAL WELL j TUBING DIAMETER(inches): 1.5 1 DIAMETER(inches): 1/4 DEPTH:4.72 feet to 14.72 feet TO WATER(fee I ):5.73 OR BAILER: PP WELL VOLUME PURGE: I WELL VOLUME (TOTAL WELL DEPTH - STATIC DEPTH TO WATER) X WELL CAPACITY (only fit[out if applicable) (14.72 feet- 5.7 EQUIPMENT VOLUME PURGE: I EQUIPMENT VOL.=PUMP VOLUME+(TUBING CAPACITY X TUBING LENGTH)+FLOW CELL VOLUME (only fill out if applicable) gallons+ gallons/foot X feet)+ gallons = gallons INITIAL PUMP OR TUBING FINAL PUMP OR TUBING PURGING PURGING TOTAL VOLUME DEPTH IN WELL(feel): 7.00 DEPTH IN WELL(feet): 7.00 INITIATED AT: 11:01 ENDEDAT: 11:19 PURGED(gallons): 4.5 CUMUL. DEPTH COND. DISSOLVED VOLUME VOLUME PURGE TO pH TEMP. (circle units) OXYGEN TURBIDITY COLOR ODOR TIME PURGED PURGED RATE WATER (standard (1)C) pmh (circle units) (NTUs) (describe) (describe) (gallons) units) '0&or (gallons) (gpm) (feet) or,pSlco I uh 0 uration 11:13 3.0 510 6.25 5.90 5.41 29.70 430 1.32 2.67 Clear None 11:15 0.5 3,6 0.25 5.90 5.42 29.139 430 1.28 2.89 Clear None 11:17 0.5 4.0 0.25 5.90 5.42 29,67 43p 1.23 3.35 Clear None 11:19 0.5 4.5 0,25 5.90 5.43 29.68 430 1.21 3.71 1 Clear None WELL CAPACITY(Gallons Per Foot): 0.75"=0.02; 1"=0.04; 1.25"=0.06; 2"=0.16; 3"=0.37; 4"=0.65; 5"=1.02; 6"=1.47; 12"=5.E18 TUBING INSIDE DIA.CAPACITY(Galfft.)._ 118"=0.0006; 3/16"=0.0014; 1/4"=0.0026; 5/16"=0,004; 318"=0.006; 112"=0.010; 518"=0.016 PURGING EQUIPMENT CODES; B=Bailer; BP=Bladder Pump; ESP=Electric Submersible Pump; PIP=Peristaltic Pump; 0=Other(Specify) SAMPLING DATA SAMPLED BY(PRINT)/AFFILIATION: SAMPLER(S)SIGNATURE(S): SAMPLING SAMPLING Tony Ruiz1 NEE Jim INITIATED AT: 11:20 ENDED AT: 11:23 PUMP OR TUBING TUBING FIELD-FILTERED: Y (N) FILTER SIZE: -pm DEPTH IN WELL(feet): 7.00 MATERIAL CODE: HOPE Filtration EquipmentType: ............ . FIELD DECONTAMINATION: PUMP (Y) N TUBING Y (N)(replaced) DUPLICATE: (Y) N SAMPLE CONTAINER SPECIFICATION SAMPLE PRESERVATION(including wet ice) INTENDED SAMPLING SAMPLE PUMP SAMPLE IPCONTAINERS PRESERVATIVE TOTAL VOL FINAL ANALYSIS AND/OR EQUIPMENT FLOW RATE ID CODE CODE USED ADDED IN FIELD mLH MATERIAL VOLUME METHOD CODE (mL per minute) ( ) p (3P-5 2 HDPE 250nnL HNO3 0 Arsenic/6020 APP 500rnL REMARKS: MATERIAL CODES: AG=Amber Glass; CG=Cl[ear Glass; HDPE=High Density Polyethylene; LDPE=Low Density Polyethylene; PIP=Polypropylene; S=Silicone; T=Teflon; 0=Other(Specify) SAMPLING EQUIPMENT CODES: APP=After(Through)Peristaltic Pump; B=Bailer; BP=Bladder Pump; ESP=Electric Submersible Pump; RFPP=Reverse Flow Peristaltic Pump; SM=Straw Method(Tubing Gravity Drain); 0=Other(Specify) NOTES: 1. The above do not constitute all of the information required by Chapter 62-160,F.A.C. 2. STABILIZATION CRITERIA FOR RANGE OF VARIATION OF LAST THREE CONSECUTIVE READINGS(SEE FS 2212,SECTION 3) pH:+0.2 units Temperature:+0.2 OC Specific Conductance: +5% Dissolved Oxygen:all readings<20%saturation(see Table FS 2200-2); optionally,+0.2 mg1L or+10%(whichever is greater) Turbidity:all readings<20 NTLI;optionally±5 NTU or+ 10%(whichever is greater) 62-160.800 F.A.C. Revision Date: January 2017 UIUMIUWdLUI OdIIIIJ1111 LUy Iwcl U.'cu is aCeAnalytlCal' Document No.: Issuing Authority: Florida Laboratory F-FL-C-021 rev.00 Pace Florida Quality Office Form FD 9000-24 GROUNDWATER SAMPLING LOG SITE NAME: I �, 1 1i.�•. «1'CA /SOLATION: 1 � !�► F��'"e� c�� I�v��"/t � `l'� WELL NO: (7 Li SAMPLE ID: DATE: PURGING DATA WELL �� TUBING WELL SCREEN INTERVAL STATIC DEPTH PURGE PUMP TYPE DIAMETER(inches): DIAMETER(inches): DEPTH: Meet to IS S feet TO WATER(feet): I OR BAILER: �f WELL VOLUME PURGE: 1 WELL VOLUME_ (TOTAL WELL DEPTH - STATIC DEPTH TO WATER) X WELL CAPACITY (only fill out if applicable) ( � L - ��• � feet- 5, S feet <-%X �< gallons/foot = '� ' gallons EQUIPMENT VOLUME PURGE: 1 EQUIPMENT VOL.=PUMP VOLUME+(TUBING CAPACITY X TUBING LENGTH)+FLOW CELL VOLUME (only fill out if applicable) = gallons+( gallons/foot X feet)+ gallons = gallons INITIAL PUMP OR TUBING S FINAL PUMP OR TUBING ( C PURGING L / PURGING f Ll 143 TOTAL VOLUME DEPTH IN WELL(feet): �' l DEPTH IN WELL(feet): is > INITIATED AT: 1 SSd ENDED AT: r PURGED(gallons): 1, C' CUMUL. DEPTH COND. DISSOLVED VOLUME VOLUME PURGE TO PH TEMP. (circle units) OXYGEN TURBIDITY COLOR ODOR TIME PURGED (standard o µ (circle units) PURGED RATE WATER units) ( C) mhos/cm m !L or (NTUs) (describe) (describe) (gallons) (gallons) (gPm) (feet) or µS/cm %saturation G L c3,Z HI , 61 S 21 P Le tl I-7 D. 1Z �- r �► f , �� ► Z d zea S, �� S" Z _ 10 v 6. )S '7 c WELL CAPACITY(Gallons Per Foot): 0.75"=0.02; 1"=0.04; 1.25"=0.06; 2"=0.16; 3"=0.37; 4"=0.65; 5"=1.02; 6"=1.47; 12"=5.88 TUBING INSIDE DIA.CAPACITY Gal./Ft. : 1/8"=0.0006; 3/16"=0.0014 1/4"=0.0026; 5/16"=0.004 3/8"=0.006 112"=0.010 5/8"=0.016 PURGING EQUIPMENT CODES: B=Bailer; BP=Bladder Pump; ESP=Electric Submersible Pump; PP=Peristaltic Pump; O=Other(Specify) SAMPLING DATA SAMPLED BY(PRINT)/AFFILIATION: SAMPLER(S)SIGNATURE(S): SAMPLING SAMPLING /1 INITIATED AT: ,LI S ENDED AT: t� 'I j PUMP OR TUBING TUBINGry t7Cl S FIELD-FILTERED: Y FILTER SIZE: µm DEPTH IN WELL(feet): MATERIAL CODE: r Filtration Equipment T e: FIELD DECONTAMINATION: PUMP Y TUBING YN(rePlace� DUPLICATE: Y N SAMPLE CONTAINER SPECIFICATION SAMPLE PRESERVATION INTENDED SAMPLING SAMPLE PUMP SAMPLE # MATERIAL PRESERVATIVE TOTAL VOL FINAL ANALYSIS AND/OR EQUIPMENT FLOW RATE ID CODE CONTAINERS CODE VOLUME USED ADDED IN FIELD mL H METHOD CODE (mL per minute) i0c)(3-L REMARKS: MATERIAL CODES: AG=Amber Glass; CG=Clear Glass; PE=Polyethylene; PP=Polypropylene; S=Silicone; T=Teflon; O=Other(Specify) SAMPLING EQUIPMENT CODES: APP=After Peristaltic Pump; B=Bailer; BP=Bladder Pump; ESP=Electric Submersible Pump; RFPP=Reverse Flow Peristaltic Pump; SM=Straw Method(Tubing Gravity Drain); O=Other(Specify) NOTES: 1. The above do not constitute all of the information required by Chapter 62-160, F.A.C. 2. STABILIZATION CRITERIA FOR RANGE OF VARIATION OF LAST THREE CONSECUTIVE READINGS(SEE FS 2212 SECTION) pH:+0.2 units Temperature:+0.2°C Specific Conductance: ±5% Dissolved Oxygen:all readings<20%saturation(see Table FS 2200-2); optionally, +0.2 mg/L or+10%(whichever is greater) Turbidity:all readings<20 NTU;optionally±5 NTU or+ 10%(whichever is greater) Page 127 of 200 Book Number: Page 14 of 16 Appendix D - Laboratory Analytical Results and Chain of Custody Form Nuri—ENVIRONMENTAL F FSO —,INO. Your Project Is Ocr Commitment. Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I August 23, 2021 Jan Beernink Nutting Environmental of Florida, Inc. 1310 Neptune Drive Boynton Beach, FL 33426 RE: Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 Dear Jan Beernink: Enclosed are the analytical results for sample(s) received by the laboratory on July 27, 2021. The results relate only to the samples included in this report. Results reported herein conform to the applicable TNI/NELAC Standards and the laboratory's Quality Manual,where applicable, unless otherwise noted in the body of the report. The test results provided in this final report were generated by each of the following laboratories within the Pace Network: • Pace National-Mt. Juliet • Pace Analytical Services-Ormond Beach Revision 1 -This report replaces the 08/05/2021 report.Arsenic for GP-5 has been aanlzyed by a secondary lab for confirmation. If you have any questions concerning this report, please feel free to contact me. Sincerely, Christina Raschke christina.raschke@pacelabs.com (954)582-4300 Project Manager Enclosures cc: Katie Bonkowski, Nutting Environmental of Florida, Inc. ,AC � REPORT OF LABORATORY ANALYSIS I; This report shall not be reproduced,except in full, �e without the written consent of Pace Analytical Services,LLC. Page 1 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I CERTIFICATIONS Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 Pace Analytical Services Ormond Beach 8 East Tower Circle, Ormond Beach, FL 32174 Montana Certification#:Cert 0074 Alaska DEC-CS/UST/LUST Nebraska Certification: NE-OS-28-14 Alabama Certification#:41320 New Hampshire Certification#:2958 Colorado Certification: FL NELAC Reciprocity New Jersey Certification#: FL022 Connecticut Certification#: PH-0216 New York Certification#: 11608 Delaware Certification: FL NELAC Reciprocity North Carolina Environmental Certificate#:667 Florida Certification#: E83079 North Carolina Certification#: 12710 Georgia Certification#:955 North Dakota Certification#: R-216 Guam Certification: FL NELAC Reciprocity Ohio DEP 87780 Hawaii Certification: FL NELAC Reciprocity Oklahoma Certification#: D9947 Illinois Certification#:200068 Pennsylvania Certification#:68-00547 Indiana Certification: FL NELAC Reciprocity Puerto Rico Certification#: FL01264 Kansas Certification#: E-10383 South Carolina Certification:#96042001 Kentucky Certification#:90050 Tennessee Certification#:TN02974 Louisiana Certification#: FL NELAC Reciprocity Texas Certification: FL NELAC Reciprocity Louisiana Environmental Certificate#:05007 US Virgin Islands Certification: FL NELAC Reciprocity Maine Certification#: FLO1264 Virginia Environmental Certification#:460165 Maryland Certification:#346 West Virginia Certification#:9962C Michigan Certification#:9911 Wisconsin Certification#:399079670 Mississippi Certification: FL NELAC Reciprocity Wyoming(EPA Region 8): FL NELAC Reciprocity Missouri Certification#:236 Pace Analytical Services National 12065 Lebanon Road, Mt.Juliet,TN 37122 Mississippi Certification#:TN00003 Alabama Certification#:40660 Missouri Certification#: 340 Alaska Certification 17-026 Montana Certification#:CERT0086 Arizona Certification#:AZ0612 Nebraska Certification#: NE-OS-15-05 Arkansas Certification#:88-0469 Nevada Certification#:TN-03-2002-34 California Certification#:2932 New Hampshire Certification#: 2975 Canada Certification#: 1461.01 New Jersey Certification#:TNO02 Colorado Certification#:TN00003 New Mexico DW Certification Connecticut Certification#: PH-0197 New York Certification#: 11742 DOD Certification:#1461.01 North Carolina Aquatic Toxicity Certification#:41 EPA#TN00003 North Carolina Drinking Water Certification#:21704 Florida Certification#: E87487 North Carolina Environmental Certificate#: 375 Georgia DW Certification#:923 North Dakota Certification#: R-140 Georgia Certification: NELAP Ohio VAP Certification#: CL0069 Idaho Certification#:TN00003 Oklahoma Certification#:9915 Illinois Certification#:200008 Oregon Certification#:TN200002 Indiana Certification#: C-TN-01 Pennsylvania Certification#:68-02979 Iowa Certification#: 364 Rhode Island Certification#: LA000356 Kansas Certification#: E-10277 South Carolina Certification#:84004 Kentucky UST Certification#: 16 South Dakota Certification Kentucky Certification#:90010 Tennessee DW/Chem/Micro Certification#: 2006 Louisiana Certification#:A130792 Texas Mold Certification#: LAB0152 Louisiana DW Certification#: LA180010 Texas Certification#:T 104704245-17-14 Maine Certification#:TN0002 USDA Soil Permit#: P330-15-00234 Maryland Certification#: 324 Utah Certification#:TN00003 Massachusetts Certification#: M-TNO03 Virginia Certification#:VT2006 Michigan Certification#:9958 Vermont Dept.of Health: ID#VT-2006 Minnesota Certification#:047-999-395 Virginia Certification#:460132 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, without the written consent of Pace Analytical Services,LLC. Page 2 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I CERTIFICATIONS Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 Pace Analytical Services National Washington Certification#:C847 A2LA-ISO 17025 Certification#: 1461.01 West Virginia Certification#:233 A2LA-ISO 17025 Certification#: 1461.02 Wisconsin Certification#:998093910 Al HA-LAP/LLC EMLAP Certification#:100789 Wyoming UST Certification#:via A21LA 2926.01 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, without the written consent of Pace Analytical Services,LLC. Page 3 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I SAMPLE SUMMARY Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 Lab ID Sample ID Matrix Date Collected Date Received 35650753001 GP-4 Water 07/26/2110:31 07/27/2114:02 35650753002 GP-5 Water 07/26/2111:20 07/27/2114:02 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, without the written consent of Pace Analytical Services,LLC. Page 4 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I SAMPLE ANALYTE COUNT Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 Analytes Lab ID Sample ID Method Analysts Reported Laboratory 35650753001 GP-4 EPA 8081 BLM 22 PASI-O 35650753002 GP-5 EPA 6020 JPD 1 PAN EPA 6020 LEC 1 PASI-O PAN=Pace National-Mt.Juliet PASI-O=Pace Analytical Services-Ormond Beach REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, without the written consent of Pace Analytical Services,LLC. Page 5 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I SUMMARY OF DETECTION Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 Lab Sample ID Client Sample ID Method Parameters Result Units Report Limit Analyzed Qualifiers 35650753001 GP-4 EPA 8081 Dieldrin 0.0072 I ug/L 0.0099 07/29/21 19:48 1 p 35650753002 GP-5 EPA 6020 Arsenic 8.11 ug/L 2.00 08/19/21 17:52 EPA 6020 Arsenic 6.5 ug/L 1.0 07/30/21 15:55 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, without the written consent of Pace Analytical Services,LLC. Page 6 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I ANALYTICAL RESULTS Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 Sample: GP-4 Lab ID: 35650753001 Collected: 07/26/21 10:31 Received: 07/27/21 14:02 Matrix: Water Parameters Results Units PQL MDL DF Prepared Analyzed CAS No. Qual 8081 GCS Pesticides Analytical Method: EPA 8081 Preparation Method: EPA 3510 Pace Analytical Services-Ormond Beach Aldrin 0.0040 U ug/L 0.0099 0.0040 1 07/29/21 09:33 07/29/21 19:48 309-00-2 1P alpha-BHC 0.0021 U ug/L 0.0099 0.0021 1 07/29/21 09:33 07/29/21 19:48 319-84-6 1P beta-BHC 0.020 U ug/L 0.030 0.020 1 07/29/21 09:33 07/29/21 19:48 319-85-7 1P delta-BHC 0.0048 U ug/L 0.0099 0.0048 1 07/29/2109:33 07/29/21 19:48 319-86-8 1p gamma-BHC(Lindane) 0.0022 U ug/L 0.0099 0.0022 1 07/29/21 09:33 07/29/21 19:48 58-89-9 1p Chlordane(Technical) 0.24 U ug/L 0.50 0.24 1 07/29/21 09:33 07/29/21 19:48 57-74-9 1P 4,4'-DDD 0.0027 U ug/L 0.0099 0.0027 1 07/29/21 09:33 07/29/21 19:48 72-54-8 1 P, J(CU) 4,4'-DDE 0.0050 U ug/L 0.0099 0.0050 1 07/29/21 09:33 07/29/21 19:48 72-55-9 1P 4,4'-DDT 0.0050 U ug/L 0.0099 0.0050 1 07/29/21 09:33 07/29/21 19:48 50-29-3 1P Dieldrin 0.0072 1 ug/L 0.0099 0.0020 1 07/29/21 09:33 07/29/21 19:48 60-57-1 1P Endosulfan 1 0.0050 U ug/L 0.0099 0.0050 1 07/29/21 09:33 07/29/21 19:48 959-98-8 1P Endosulfan 11 0.0040 U ug/L 0.0099 0.0040 1 07/29/21 09:33 07/29/21 19:48 33213-65-9 1p Endosulfan sulfate 0.0061 U ug/L 0.099 0.0061 1 07/29/21 09:33 07/29/21 19:48 1031-07-8 1p Endrin 0.0043 U ug/L 0.0099 0.0043 1 07/29/21 09:33 07/29/21 19:48 72-20-8 1P Endrin aldehyde 0.0036 U ug/L 0.099 0.0036 1 07/29/21 09:33 07/29/21 19:48 7421-93-4 1p Endrin ketone 0.0050 U ug/L 0.0099 0.0050 1 07/29/21 09:33 07/29/21 19:48 53494-70-5 1p Heptachlor 0.0061 U ug/L 0.0099 0.0061 1 07/29/21 09:33 07/29/21 19:48 76-44-8 1P Heptachlor epoxide 0.016 U ug/L 0.020 0.016 1 07/29/21 09:33 07/29/21 19:48 1024-57-3 1P Methoxychlor 0.0042 U ug/L 0.0099 0.0042 1 07/29/21 09:33 07/29/21 19:48 72-43-5 1P Toxaphene 0.25 U ug/L 0.50 0.25 1 07/29/2109:33 07/29/21 19:48 8001-35-2 1p Surrogates Tetrachloro-m-xylene(S) 71 % 27-124 1 07/29/21 09:33 07/29/21 19:48 877-09-8 Decachlorobiphenyl(S) 44 % 10-132 1 07/29/21 09:33 07/29/21 19:48 2051-24-3 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 04:16 PM without the written consent of Pace Analytical Services,LLC. Page 7 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I ANALYTICAL RESULTS Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 Sample: GP-5 Lab ID: 35650753002 Collected: 07/26/21 11:20 Received: 07/27/21 14:02 Matrix: Water Parameters Results Units PQL MDL DF Prepared Analyzed CAS No. Qual Metals(ICPMS)6020 Analytical Method: EPA 6020 Preparation Method:3015 Pace National-Mt.Juliet Arsenic 8.11 ug/L 2.00 0.180 1 08/19/2101:07 08/19/21 17:52 7440-38-2 6020 MET ICPMS Analytical Method: EPA 6020 Preparation Method: EPA 3010 Pace Analytical Services-Ormond Beach Arsenic 6.5 ug/L 1.0 0.50 1 07/30/2102:03 07/30/21 15:55 7440-38-2 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 04:16 PM without the written consent of Pace Analytical Services,LLC. Page 8 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I QUALITY CONTROL DATA Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 QC Batch: 1725251 Analysis Method: EPA 6020 QC Batch Method: 3015 Analysis Description: Metals(ICPMS)6020 Laboratory: Pace National-Mt.Juliet Associated Lab Samples: 35650753002 METHOD BLANK: R3694133-1 Matrix: Water Associated Lab Samples: 35650753002 Blank Reporting Parameter Units Result Limit MDL Analyzed Qualifiers Arsenic ug/L 0.180 U 2.00 0.180 08/19/21 15:56 LABORATORY CONTROL SAMPLE: R3694133-2 Spike LCS LCS % Rec Parameter Units Conc. Result % Rec Limits Qualifiers Arsenic ug/L 50.0 46.8 93.6 80.0-120 MATRIX SPIKE&MATRIX SPIKE DUPLICATE: R3694133-4 R3694133-5 MS MSD L1390894-04 Spike Spike MS MSD MS MSD % Rec Max Parameter Units Result Conc. Conc. Result Result % Rec % Rec Limits RPD RPD Qual Arsenic ug/L 0.264 50.0 50.0 48.8 50.3 97.0 100 75.0-125 3.04 20 Results presented on this page are in the units indicated by the"Units"column except where an alternate unit is presented to the right of the result. REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 04:16 PM without the written consent of Pace Analytical Services,LLC. Page 9 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I QUALITY CONTROL DATA Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 QC Batch: 749743 Analysis Method: EPA 6020 QC Batch Method: EPA 3010 Analysis Description: 6020 MET Laboratory: Pace Analytical Services-Ormond Beach Associated Lab Samples: 35650753002 METHOD BLANK: 4093320 Matrix: Water Associated Lab Samples: 35650753002 Blank Reporting Parameter Units Result Limit MDL Analyzed Qualifiers Arsenic ug/L 0.50 U 1.0 0.50 08/01/21 15:22 LABORATORY CONTROL SAMPLE: 4093321 Spike LCS LCS % Rec Parameter Units Conc. Result % Rec Limits Qualifiers Arsenic ug/L 50 50.8 102 80-120 MATRIX SPIKE&MATRIX SPIKE DUPLICATE: 4093322 4093323 MS MSD 35650585001 Spike Spike MS MSD MS MSD % Rec Max Parameter Units Result Conc. Conc. Result Result % Rec % Rec Limits RPD RPD Qual Arsenic ug/L 2.5 50 50 46.1 46.2 87 87 75-125 0 20 Results presented on this page are in the units indicated by the"Units"column except where an alternate unit is presented to the right of the result. REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 04:16 PM without the written consent of Pace Analytical Services,LLC. Page 10 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I QUALITY CONTROL DATA Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 QC Batch: 749444 Analysis Method: EPA 8081 QC Batch Method: EPA 3510 Analysis Description: 8081 GCS Pesticides Laboratory: Pace Analytical Services-Ormond Beach Associated Lab Samples: 35650753001 METHOD BLANK: 4091419 Matrix: Water Associated Lab Samples: 35650753001 Blank Reporting Parameter Units Result Limit MDL Analyzed Qualifiers 4,4'-DDD ug/L 0.0027 U 0.010 0.0027 07/29/21 18:02 J(CU) 4,4'-DDE ug/L 0.0050 U 0.010 0.0050 07/29/21 18:02 4,4'-DDT ug/L 0.0051 U 0.010 0.0051 07/29/21 18:02 Aldrin ug/L 0.0040 U 0.010 0.0040 07/29/21 18:02 alpha-BHC ug/L 0.0021 U 0.010 0.0021 07/29/21 18:02 beta-BHC ug/L 0.020 U 0.030 0.020 07/29/21 18:02 Chlordane(Technical) ug/L 0.25 U 0.50 0.25 07/29/21 18:02 delta-BHC ug/L 0.0048 U 0.010 0.0048 07/29/21 18:02 Dieldrin ug/L 0.0020 U 0.010 0.0020 07/29/21 18:02 Endosulfan I ug/L 0.0051 U 0.010 0.0051 07/29/21 18:02 Endosulfan 11 ug/L 0.0040 U 0.010 0.0040 07/29/21 18:02 Endosulfan sulfate ug/L 0.0062 U 0.10 0.0062 07/29/21 18:02 Endrin ug/L 0.0043 U 0.010 0.0043 07/29/21 18:02 Endrin aldehyde ug/L 0.0036 U 0.10 0.0036 07/29/21 18:02 Endrin ketone ug/L 0.0050 U 0.010 0.0050 07/29/21 18:02 gamma-BHC(Lindane) ug/L 0.0022 U 0.010 0.0022 07/29/21 18:02 Heptachlor ug/L 0.0062 U 0.010 0.0062 07/29/21 18:02 Heptachlor epoxide ug/L 0.016 U 0.020 0.016 07/29/21 18:02 Methoxychlor ug/L 0.0042 U 0.010 0.0042 07/29/21 18:02 Toxaphene ug/L 0.25 U 0.50 0.25 07/29/21 18:02 Decachlorobiphenyl(S) % 96 10-132 07/29/21 18:02 Tetrachloro-m-xylene(S) % 68 27-124 07/29/21 18:02 LABORATORY CONTROL SAMPLE&LCSD: 4091420 4091608 Spike LCS LCSD LCS LCSD % Rec Max Parameter Units Conc. Result Result % Rec % Rec Limits RPD RPD Qualifiers 4,4'-DDD ug/L 0.5 0.63 0.64 127 129 67-133 2 40 J(CU) 4,4'-DDE ug/L 0.5 0.54 0.55 107 110 59-125 2 40 4,4'-DDT ug/L 0.5 0.43 0.43 86 85 54-132 1 40 Aldrin ug/L 0.5 0.39 0.41 77 81 25-116 5 40 alpha-BHC ug/L 0.5 0.46 0.46 91 91 53-126 0 40 beta-BHC ug/L 0.5 0.49 0.50 98 99 62-130 1 40 delta-BHC ug/L 0.5 0.50 0.51 100 101 35-122 2 40 Dieldrin ug/L 0.5 0.53 0.54 106 108 66-128 2 40 EndosulfanI ug/L 0.5 0.52 0.53 104 105 67-125 1 40 Endosulfan 11 ug/L 0.5 0.54 0.55 108 110 67-131 2 40 Endosulfan sulfate ug/L 0.5 0.55 0.55 109 111 62-127 1 40 Endrin ug/L 0.5 0.51 0.52 103 105 66-130 2 40 Endrin aldehyde ug/L 0.5 0.54 0.55 108 109 61-124 1 40 Results presented on this page are in the units indicated by the"Units"column except where an alternate unit is presented to the right of the result. REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 04:16 PM without the written consent of Pace Analytical Services,LLC. Page 11 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I QUALITY CONTROL DATA Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 LABORATORY CONTROL SAMPLE&LCSD: 4091420 4091608 Spike LCS LCSD LCS LCSD % Rec Max Parameter Units Conc. Result Result % Rec % Rec Limits RPD RPD Qualifiers Endrin ketone ug/L 0.5 0.56 0.56 111 113 65-132 2 40 gamma-BHC(Lindane) ug/L 0.5 0.48 0.48 95 96 58-127 1 40 Heptachlor ug/L 0.5 0.41 0.42 82 85 35-123 3 40 Heptachlor epoxide ug/L 0.5 0.51 0.51 101 103 62-125 2 40 Methoxychlor ug/L 0.5 0.45 0.45 90 90 59-135 0 40 Decachlorobiphenyl(S) % 87 78 10-132 Tetrachloro-m-xylene(S) % 69 71 27-124 Results presented on this page are in the units indicated by the"Units"column except where an alternate unit is presented to the right of the result. REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 04:16 PM without the written consent of Pace Analytical Services,LLC. Page 12 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I QUALIFIERS Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 DEFINITIONS DF-Dilution Factor, if reported,represents the factor applied to the reported data due to dilution of the sample aliquot. ND-Not Detected at or above adjusted reporting limit. TNTC-Too Numerous To Count MDL-Adjusted Method Detection Limit. PQL-Practical Quantitation Limit. RL-Reporting Limit-The lowest concentration value that meets project requirements for quantitative data with known precision and bias for a specific analyte in a specific matrix. S-Surrogate 1,2-Diphenylhydrazine decomposes to and cannot be separated from Azobenzene using Method 8270.The result for each analyte is a combined concentration. Consistent with EPA guidelines, unrounded data are displayed and have been used to calculate%recovery and RPD values. LCS(D)-Laboratory Control Sample(Duplicate) MS(D)-Matrix Spike(Duplicate) DUP-Sample Duplicate RPD-Relative Percent Difference NC-Not Calculable. SG-Silica Gel-Clean-Up U-Indicates the compound was analyzed for, but not detected. N-Nitrosodiphenylamine decomposes and cannot be separated from Diphenylamine using Method 8270. The result reported for each analyte is a combined concentration. Pace Analytical is TNI accredited.Contact your Pace PM for the current list of accredited analytes. TNI-The NELAC Institute. BATCH QUALIFIERS Batch: 749444 [M5] A matrix spike/matrix spike duplicate was not performed for this batch due to insufficient sample volume. ANALYTE QUALIFIERS I The reported value is between the laboratory method detection limit and the laboratory practical quantitation limit. U Compound was analyzed for but not detected. 1P A matrix spike/matrix spike duplicate was not performed for this batch due to insufficient sample volume. J(CU) The continuing calibration for this compound is above method acceptance limits.Analyte presence is not detected in associated samples. Results unaffected by high bias. REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 04:16 PM without the written consent of Pace Analytical Services,LLC. Page 13 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I QUALITY CONTROL DATA CROSS REFERENCE TABLE Project: 115 N. Federal Hwy-Revised Report Pace Project No.: 35650753 Analytical Lab ID Sample ID QC Batch Method QC Batch Analytical Method Batch 35650753001 GP-4 EPA 3510 749444 EPA 8081 749643 35650753002 GP-5 3015 1725251 EPA 6020 1725251 35650753002 GP-5 EPA 3010 749743 EPA 6020 749752 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 04:16 PM without the written consent of Pace Analytical Services,LLC. 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' a N ch �t E m m - '� a nz U)cn€ ag 15 17 ..,..,w e.., ,. •„• ocusr ient n - ung a dr�r�y ' F-FL C-007 rev.13 Pace Florida OddalKy Office PrOjet Date and Initials oferson: PM: CTR Due Date: 08/02/21 P Project Mal1aC Examining contents:_ - CLIENT: 36-NUTTEN label: C,ile Deliver: Thermometer Used: Date: I-2.7 ti Time: _ Initials: State of Origin: ❑ For WV projects,all containers verified to 56°C Cooler#1 Temp.,C (Visual) '0- (Correction Factor) 7- v (Actual) ❑ Samples on ice,cooling process has begun Cooler#2 Temp.-C-1 �(Visual) (Correction Factor) - Z (Actual) ❑ Samples on ice,cooling process has begun Cooler#3 Temp.°C (Visual) (Correction Factor) (Actual) ❑ Samples on ice,cooling process has begun Cooler#4 Temp.°C (Visual) (Correction Factor) (Actual) ❑ Samples on ice,cooling process has begun Cooler#5 Temp.*C (Visual) (Correction Factor) (Actual) p Samples on ice,cooling process has begun Cooler#6 Temp.°C (Visual) (Correction Factor)_(Actual)(Actual) ❑ Samples on ice,cooling process has begun Courier: ❑ Fed Ex ❑ UPS ❑USPS ❑ Client ;2 Commercial ❑ Pace ❑Other Shipping Method: ❑First Overnight ❑ Priority Overnight ❑ Standard Overnight ❑ Ground ❑International Priority ❑ Other Billing: ❑Recipient ❑ Sender ❑ Third Party ❑ Credit Card ❑ Unknown Tracking# Custody Seal on Cooler/Box Present: ds LINO Seals intact: es ❑No Ice: Wt t Blue Dry None Packing Material: ❑Bubble Wrap - Bubble Bags ❑NoneQ Other Samples shorted to lab(If Yes,complete) Shorted Date: ( Shorted Time: Qty: Comments: Chain of Custody Present Ves ❑No ❑N/A Chain of Custody Filled Out f fes ❑No ❑NIA Relinquished Signature&Sampler Name COC Yes ❑No ❑N/A Samples Arrived within Hold Time 'Yes ❑No ❑N/A Rush TAT requested on COC ❑Yes f3lNo ❑N/A Sufficient Volume Yes ❑No ❑N/A Correct:Containers Used r/Yes es ❑No ❑WA Containers Intact Yes ❑No ❑N/A Samplo Labels match COC{sample ft?s&ctatetlirrEe sof ocrllttaon} Yes ❑No ❑N/A All containers needing acidltiase prosera+ativn have been the ed, Preservation Information es ❑No ❑N/A Preservative: Alt Containers needing preservation are found to be in �" compliance with EPA recommendation: Lot :Trace#: _`(tis ❑No ❑N/A Date: Trate: Uceptions:VOA,Co4form,TOC,O&G,Carbo rues Initials: Headspace in VOA Vials?(-6mm): EEEE]Yes ❑No NIA Trip Blank Present: ❑No ❑ /A Client Notification/Resolution: Person Contacted: DatelTime: Comments/Resolution(use back for additional comments): Project Manager Review: Date: Page 16 of 17 ocument Name: Document Revised: Sample Condition Upon Receipt Form May 30,2018 „v ocumant No.: ssuirtg Authority: F-FL-C-007 r— VA Pace Florida Quality Office Project# PM CTR Due Date: 08/02/21 Date and Initials of person: Project Manager; CLIENT: 36—NUTTEN Examining contents: Label: _ Client: Deliver: pH- Thermometer Used: V Dater Time: t'V —Initials State of Agip" [] For WV qqiects,all containers verified to s6°C r' ^mm— t Cooler#1 Temp.°C (Visktal) (Correction Factor) �} (Actual) I/f Samples on ice,cooling process has begun -71 Cooler#2 Temp.°C J (Visual) (Correotltaat Factor) (ACtktal) /❑' Samples on ice,cooling process has begun Cooler#3 Temp.°C (Visual) (Correction Factor) (Actual ❑ Samples on ice,cooling process has begun Cooler 94 Temp.°C (Visual) (Correction Factor) (Actual) ❑ Samples on ice,cooling process has begun Cooler#5 Temp.°C (Visual) (Correction Factor) (Actual) ❑ Samples on ice,cooling process has begun Cooler#6 Temp.°C (Visual) (Correction Factor) (Actual) ❑ Samples on ice,cooling process has begun Courier: ❑ Fed Ex ❑ UPS ❑USPS Client ❑ Commercial ❑ Pace ❑Other Shipping Method: ❑ First Overnight ❑ Priority Overnight ❑ Standard Overnight ❑ Ground ❑ International Priority ❑ Other_ Billing: ❑Recipient ❑ Sender ❑ Third Party ❑ Credit Card ❑ Unknown Tracking# Custody Seal on Cooler/Box Present: ❑Yes No Seals intact: ❑ Yes ❑No Ice. WX Blue Dry None Packing Material: ❑Bubble Wrap ❑Bubble Bags ❑None ❑Other Samples shorted to lab(If Yes,complete) Shorted Date: Shorted Time: Qty: Comments: Chain of Custody Present []Yes ❑No ❑N/A Chain of Custody Filled Out ❑Yes ❑No ❑N/A Relinquished Signature&Sampler Name COC ❑Yes ❑No ❑N/A Samples Arrived within Hold Time ❑Yes ❑No ❑N/A Rush TAT requested on COC ❑Yes ❑No ❑N/A Sufficient Volume ❑Yes ❑No ❑N/A Correct Containers Used dYes ❑No 1:1 N/A Containers Intact []Yes ❑No ❑N/A Sample Labels match COC(sample IDs&date/time of collection) ❑Yes ❑No El N/A All containers needing acid/base preservation have been preservation Information: checked. ❑Yes ❑No ❑N/A Pruservative: All Containers needing preservation are found to be in Lot#!Trace#; compliance with EPA recommendation: ❑Yes ❑No ❑N/A Date: Tttnet Exceptions:VOA,Coliform,TOC,O&G,Carbamates Initials Headspace in VOA Vials?(>6mm): ❑Yes ❑No ❑N/A Trip Blank Present: []Yes ❑No ❑N/A Client Notification/Resolution: Person Contacted: Date/Time: Comments/Resolution(use back for additional comments): Project Manager Review: Date: Page 17 of 17 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I August 23, 2021 Jan Beernink Nutting Environmental of Florida, Inc. 1310 Neptune Drive Boynton Beach, FL 33426 RE: Project: 115 N. Federal Hwy Pace Project No.: 35655959 Dear Jan Beernink: Enclosed are the analytical results for sample(s) received by the laboratory on August 16, 2021. The results relate only to the samples included in this report. Results reported herein conform to the applicable TNI/NELAC Standards and the laboratory's Quality Manual,where applicable, unless otherwise noted in the body of the report. The test results provided in this final report were generated by each of the following laboratories within the Pace Network: • Pace National-Mt. Juliet • Pace Analytical Services-Ormond Beach If you have any questions concerning this report, please feel free to contact me. Sincerely, Christina Raschke christina.raschke@pacelabs.com (954)582-4300 Project Manager Enclosures cc: Katie Bonkowski, Nutting Environmental of Florida, Inc. ,AC � REPORT OF LABORATORY ANALYSIS I; This report shall not be reproduced,except in full, �e without the written consent of Pace Analytical Services,LLC. Page 1 of 16 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I CERTIFICATIONS Project: 115 N. Federal Hwy Pace Project No.: 35655959 Pace Analytical Services Ormond Beach 8 East Tower Circle, Ormond Beach, FL 32174 Montana Certification#:Cert 0074 Alaska DEC-CS/UST/LUST Nebraska Certification: NE-OS-28-14 Alabama Certification#:41320 New Hampshire Certification#:2958 Colorado Certification: FL NELAC Reciprocity New Jersey Certification#: FL022 Connecticut Certification#: PH-0216 New York Certification#: 11608 Delaware Certification: FL NELAC Reciprocity North Carolina Environmental Certificate#:667 Florida Certification#: E83079 North Carolina Certification#: 12710 Georgia Certification#:955 North Dakota Certification#: R-216 Guam Certification: FL NELAC Reciprocity Ohio DEP 87780 Hawaii Certification: FL NELAC Reciprocity Oklahoma Certification#: D9947 Illinois Certification#:200068 Pennsylvania Certification#:68-00547 Indiana Certification: FL NELAC Reciprocity Puerto Rico Certification#: FL01264 Kansas Certification#: E-10383 South Carolina Certification:#96042001 Kentucky Certification#:90050 Tennessee Certification#:TN02974 Louisiana Certification#: FL NELAC Reciprocity Texas Certification: FL NELAC Reciprocity Louisiana Environmental Certificate#:05007 US Virgin Islands Certification: FL NELAC Reciprocity Maine Certification#: FLO1264 Virginia Environmental Certification#:460165 Maryland Certification:#346 West Virginia Certification#:9962C Michigan Certification#:9911 Wisconsin Certification#:399079670 Mississippi Certification: FL NELAC Reciprocity Wyoming(EPA Region 8): FL NELAC Reciprocity Missouri Certification#:236 Pace Analytical Services National 12065 Lebanon Road, Mt.Juliet,TN 37122 Mississippi Certification#:TN00003 Alabama Certification#:40660 Missouri Certification#: 340 Alaska Certification 17-026 Montana Certification#:CERT0086 Arizona Certification#:AZ0612 Nebraska Certification#: NE-OS-15-05 Arkansas Certification#:88-0469 Nevada Certification#:TN-03-2002-34 California Certification#:2932 New Hampshire Certification#: 2975 Canada Certification#: 1461.01 New Jersey Certification#:TNO02 Colorado Certification#:TN00003 New Mexico DW Certification Connecticut Certification#: PH-0197 New York Certification#: 11742 DOD Certification:#1461.01 North Carolina Aquatic Toxicity Certification#:41 EPA#TN00003 North Carolina Drinking Water Certification#:21704 Florida Certification#: E87487 North Carolina Environmental Certificate#: 375 Georgia DW Certification#:923 North Dakota Certification#: R-140 Georgia Certification: NELAP Ohio VAP Certification#: CL0069 Idaho Certification#:TN00003 Oklahoma Certification#:9915 Illinois Certification#:200008 Oregon Certification#:TN200002 Indiana Certification#: C-TN-01 Pennsylvania Certification#:68-02979 Iowa Certification#: 364 Rhode Island Certification#: LA000356 Kansas Certification#: E-10277 South Carolina Certification#:84004 Kentucky UST Certification#: 16 South Dakota Certification Kentucky Certification#:90010 Tennessee DW/Chem/Micro Certification#: 2006 Louisiana Certification#:A130792 Texas Mold Certification#: LAB0152 Louisiana DW Certification#: LA180010 Texas Certification#:T 104704245-17-14 Maine Certification#:TN0002 USDA Soil Permit#: P330-15-00234 Maryland Certification#: 324 Utah Certification#:TN00003 Massachusetts Certification#: M-TNO03 Virginia Certification#:VT2006 Michigan Certification#:9958 Vermont Dept.of Health: ID#VT-2006 Minnesota Certification#:047-999-395 Virginia Certification#:460132 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, without the written consent of Pace Analytical Services,LLC. Page 2 of 16 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I CERTIFICATIONS Project: 115 N. Federal Hwy Pace Project No.: 35655959 Pace Analytical Services National Washington Certification#:C847 A2LA-ISO 17025 Certification#: 1461.01 West Virginia Certification#:233 A2LA-ISO 17025 Certification#: 1461.02 Wisconsin Certification#:998093910 Al HA-LAP/LLC EMLAP Certification#:100789 Wyoming UST Certification#:via A21LA 2926.01 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, without the written consent of Pace Analytical Services,LLC. Page 3 of 16 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I SAMPLE SUMMARY Project: 115 N. Federal Hwy Pace Project No.: 35655959 Lab ID Sample ID Matrix Date Collected Date Received 35655959001 GP-4 Water 08/16/2114:45 08/16/2116:05 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, without the written consent of Pace Analytical Services,LLC. Page 4 of 16 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I SAMPLE ANALYTE COUNT Project: 115 N. Federal Hwy Pace Project No.: 35655959 Analytes Lab ID Sample ID Method Analysts Reported Laboratory 35655959001 GP-4 EPA 8081 AMM 23 PAN PAN=Pace National-Mt.Juliet PASI-O=Pace Analytical Services-Ormond Beach REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, without the written consent of Pace Analytical Services,LLC. Page 5 of 16 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I SUMMARY OF DETECTION Project: 115 N. Federal Hwy Pace Project No.: 35655959 Lab Sample ID Client Sample ID Method Parameters Result Units Report Limit Analyzed Qualifiers 35655959001 GP-4 Field pH 5.48 Std. Units 08/16/21 14:45 Field Temperature 29.6 deg C 08/16/21 14:45 Field Specific Conductance 492 umhos/cm 08/16/21 14:45 Oxygen, Dissolved 0.14 mg/L 08/16/21 14:45 Turbidity 5.41 NTU 08/16/2114:45 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, without the written consent of Pace Analytical Services,LLC. Page 6 of 16 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I ANALYTICAL RESULTS Project: 115 N. Federal Hwy Pace Project No.: 35655959 Sample: GP-4 Lab ID: 35655959001 Collected: 08/16/21 14:45 Received: 08/16/21 16:05 Matrix: Water Parameters Results Units PQL MDL DF Prepared Analyzed CAS No. Qual Field Data Analytical Method: Pace Analytical Services-Ormond Beach Field pH 5.48 Std. Units 1 08/16/21 14:45 Field Temperature 29.6 deg C 1 08/16/21 14:45 Field Specific Conductance 492 umhos/cm 1 08/16/21 14:45 Oxygen, Dissolved 0.14 mg/L 1 08/16/21 14:45 7782-44-7 Turbidity 5.41 NTU 1 08/16/2114:45 Pesticides(GC)8081 Analytical Method: EPA 8081 Preparation Method:3510C Pace National-Mt.Juliet Aldrin 0.0198 U ug/L 0.0500 0.0198 1 08/20/21 08:46 08/23/21 13:09 309-00-2 alpha-BHC 0.0172 U ug/L 0.0500 0.0172 1 08/20/21 08:46 08/23/21 13:09 319-84-6 beta-BHC 0.0208 U ug/L 0.0500 0.0208 1 08/20/21 08:46 08/23/21 13:09 319-85-7 delta-BHC 0.0150 U ug/L 0.0500 0.0150 1 08/20/21 08:46 08/23/21 13:09 319-86-8 gamma-BHC(Lindane) 0.0209 U ug/L 0.0500 0.0209 1 08/20/21 08:46 08/23/21 13:09 58-89-9 Chlordane(Technical) 0.0198 U ug/L 5.00 0.0198 1 08/20/21 08:46 08/23/21 13:09 57-74-9 4,4'-DDD 0.0177 U ug/L 0.0500 0.0177 1 08/20/21 08:46 08/23/21 13:09 72-54-8 4,4'-DDE 0.0154 U ug/L 0.0500 0.0154 1 08/20/21 08:46 08/23/21 13:09 72-55-9 4,4'-DDT 0.0198 U ug/L 0.0500 0.0198 1 08/20/21 08:46 08/23/21 13:09 50-29-3 Dieldrin 0.0162 U ug/L 0.0500 0.0162 1 08/20/21 08:46 08/23/21 13:09 60-57-1 Endosulfan 1 0.0160 U ug/L 0.0500 0.0160 1 08/20/21 08:46 08/23/21 13:09 959-98-8 Endosulfan 11 0.0164 U ug/L 0.0500 0.0164 1 08/20/21 08:46 08/23/21 13:09 33213-65-9 Endosulfan sulfate 0.0217 U ug/L 0.0500 0.0217 1 08/20/21 08:46 08/23/21 13:09 1031-07-8 Endrin 0.0161 U ug/L 0.0500 0.0161 1 08/20/2108:46 08/23/21 13:09 72-20-8 Endrin aldehyde 0.0237 U ug/L 0.0500 0.0237 1 08/20/21 08:46 08/23/21 13:09 7421-93-4 Endrin ketone 0.0219 U ug/L 0.0500 0.0219 1 08/20/21 08:46 08/23/21 13:09 53494-70-5 Hexachlorobenzene 0.0176 U ug/L 0.0500 0.0176 1 08/20/21 08:46 08/23/21 13:09 118-74-1 Heptachlor 0.0148 U ug/L 0.0500 0.0148 1 08/20/21 08:46 08/23/21 13:09 76-44-8 Heptachlor epoxide 0.0183 U ug/L 0.0500 0.0183 1 08/20/21 08:46 08/23/21 13:09 1024-57-3 Methoxychlor 0.0193 U ug/L 0.0500 0.0193 1 08/20/21 08:46 08/23/21 13:09 72-43-5 Toxaphene 0.168 U ug/L 0.500 0.168 1 08/20/21 08:46 08/23/21 13:09 8001-35-2 Surrogates Decachlorobiphenyl(S) 14.7 % 10.0-128 1 08/20/21 08:46 08/23/21 13:09 2051-24-3 Tetrachloro-m-xylene(S) 53.0 % 10.0-127 1 08/20/21 08:46 08/23/21 13:09 877-09-8 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 09:05 PM without the written consent of Pace Analytical Services,LLC. Page 7 of 16 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I QUALITY CONTROL DATA Project: 115 N. Federal Hwy Pace Project No.: 35655959 QC Batch: 1726079 Analysis Method: EPA 8081 QC Batch Method: 3510C Analysis Description: Pesticides(GC)8081 Laboratory: Pace National-Mt.Juliet Associated Lab Samples: 35655959001 METHOD BLANK: R3695334-1 Matrix: Water Associated Lab Samples: 35655959001 Blank Reporting Parameter Units Result Limit MDL Analyzed Qualifiers Aldrin ug/L 0.0198 U 0.0500 0.0198 08/23/21 10:34 alpha-BHC ug/L 0.0172 U 0.0500 0.0172 08/23/21 10:34 beta-BHC ug/L 0.0208 U 0.0500 0.0208 08/23/21 10:34 delta-BHC ug/L 0.0150 U 0.0500 0.0150 08/23/21 10:34 gamma-BHC(Lindane) ug/L 0.0209 U 0.0500 0.0209 08/23/21 10:34 4,4'-DDD ug/L 0.0177 U 0.0500 0.0177 08/23/21 10:34 4,4'-DDE ug/L 0.0154 U 0.0500 0.0154 08/23/21 10:34 4,4'-DDT ug/L 0.0198 U 0.0500 0.0198 08/23/21 10:34 Dieldrin ug/L 0.0162 U 0.0500 0.0162 08/23/21 10:34 Endosulfan I ug/L 0.0160 U 0.0500 0.0160 08/23/21 10:34 Endosulfan 11 ug/L 0.0164 U 0.0500 0.0164 08/23/21 10:34 Endosulfan sulfate ug/L 0.0217 U 0.0500 0.0217 08/23/21 10:34 Endrin ug/L 0.0161 U 0.0500 0.0161 08/23/21 10:34 Endrin aldehyde ug/L 0.0237 U 0.0500 0.0237 08/23/21 10:34 Endrin ketone ug/L 0.0219 U 0.0500 0.0219 08/23/21 10:34 Heptachlor ug/L 0.0148 U 0.0500 0.0148 08/23/21 10:34 Heptachlor epoxide ug/L 0.0183 U 0.0500 0.0183 08/23/21 10:34 Hexachlorobenzene ug/L 0.0176 U 0.0500 0.0176 08/23/21 10:34 Methoxychlor ug/L 0.0193 U 0.0500 0.0193 08/23/21 10:34 Chlordane(Technical) ug/L 0.0198 U 5.00 0.0198 08/23/21 10:34 Toxaphene ug/L 0.168 U 0.500 0.168 08/23/21 10:34 Decachlorobiphenyl(S) % 70.8 10.0-128 08/23/21 10:34 Tetrachloro-m-xylene(S) % 127 10.0-127 08/23/21 10:34 METHOD BLANK: R3695334-2 Matrix: Water Associated Lab Samples: 35655959001 Blank Reporting Parameter Units Result Limit MDL Analyzed Qualifiers Aldrin ug/L 0.0198 U 0.0500 0.0198 08/23/21 10:34 alpha-BHC ug/L 0.0172 U 0.0500 0.0172 08/23/21 10:34 beta-BHC ug/L 0.0208 U 0.0500 0.0208 08/23/21 10:34 delta-BHC ug/L 0.0150 U 0.0500 0.0150 08/23/21 10:34 gamma-BHC(Lindane) ug/L 0.0209 U 0.0500 0.0209 08/23/21 10:34 4,4'-DDD ug/L 0.0177 U 0.0500 0.0177 08/23/21 10:34 4,4'-DDE ug/L 0.0154 U 0.0500 0.0154 08/23/21 10:34 4,4'-DDT ug/L 0.0198 U 0.0500 0.0198 08/23/21 10:34 Dieldrin ug/L 0.0162 U 0.0500 0.0162 08/23/21 10:34 Endosulfan I ug/L 0.0160 U 0.0500 0.0160 08/23/21 10:34 Results presented on this page are in the units indicated by the"Units"column except where an alternate unit is presented to the right of the result. REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 09:05 PM without the written consent of Pace Analytical Services,LLC. Page 8 of 16 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I QUALITY CONTROL DATA Project: 115 N. Federal Hwy Pace Project No.: 35655959 METHOD BLANK: R3695334-2 Matrix: Water Associated Lab Samples: 35655959001 Blank Reporting Parameter Units Result Limit MDL Analyzed Qualifiers Endosulfan II ug/L 0.0164 U 0.0500 0.0164 08/23/21 10:34 Endosulfan sulfate ug/L 0.0217 U 0.0500 0.0217 08/23/21 10:34 Endrin ug/L 0.0161 U 0.0500 0.0161 08/23/21 10:34 Endrin aldehyde ug/L 0.0237 U 0.0500 0.0237 08/23/21 10:34 Endrin ketone ug/L 0.0219 U 0.0500 0.0219 08/23/21 10:34 Heptachlor ug/L 0.0148 U 0.0500 0.0148 08/23/21 10:34 Heptachlor epoxide ug/L 0.0183 U 0.0500 0.0183 08/23/21 10:34 Hexachlorobenzene ug/L 0.0176 U 0.0500 0.0176 08/23/21 10:34 Methoxychlor ug/L 0.0193 U 0.0500 0.0193 08/23/21 10:34 Chlordane(Technical) ug/L 0.0198 U 5.00 0.0198 08/23/21 10:34 Toxaphene ug/L 0.168 U 0.500 0.168 08/23/21 10:34 Decachlorobiphenyl(S) % 36.7 10.0-128 08/23/21 10:34 Tetrachloro-m-xylene(S) % 79.7 10.0-127 08/23/21 10:34 LABORATORY CONTROL SAMPLE: R3695334-3 Spike LCS LCS % Rec Parameter Units Conc. Result % Rec Limits Qualifiers Aldrin ug/L 1.00 0.838 83.8 22.0-124 alpha-BHC ug/L 1.00 1.04 104 54.0-130 beta-BHC ug/L 1.00 1.12 112 53.0-136 delta-BHC ug/L 1.00 1.15 115 54.0-133 gamma-BHC(Lindane) ug/L 1.00 1.11 111 55.0-129 4,4'-DDD ug/L 1.00 0.959 95.9 56.0-140 4,4'-DDE ug/L 1.00 0.886 88.6 52.0-128 4,4'-DDT ug/L 1.00 0.997 99.7 50.0-141 Dieldrin ug/L 1.00 0.962 96.2 59.0-133 Endosulfan I ug/L 1.00 0.967 96.7 57.0-131 Endosulfan 11 ug/L 1.00 0.979 97.9 58.0-133 Endosulfan sulfate ug/L 1.00 0.909 90.9 58.0-133 P9 Endrin ug/L 1.00 0.986 98.6 57.0-134 Endrin aldehyde ug/L 1.00 0.874 87.4 53.0-129 Endrin ketone ug/L 1.00 1.00 100 60.0-145 Heptachlor ug/L 1.00 0.972 97.2 27.0-132 Heptachlor epoxide ug/L 1.00 0.996 99.6 57.0-130 Hexachlorobenzene ug/L 1.00 0.889 88.9 30.0-114 Methoxychlor ug/L 1.00 0.911 91.1 54.0-155 P9 Decachlorobiphenyl(S) % 39.0 10.0-128 Tetrachloro-m-xylene(S) % 83.1 10.0-127 Results presented on this page are in the units indicated by the"Units"column except where an alternate unit is presented to the right of the result. REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 09:05 PM without the written consent of Pace Analytical Services,LLC. Page 9 of 16 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I QUALITY CONTROL DATA Project: 115 N. Federal Hwy Pace Project No.: 35655959 MATRIX SPIKE&MATRIX SPIKE DUPLICATE: R3695334-6 R3695334-7 MS MSD 35655959001 Spike Spike MS MSD MS MSD % Rec Max Parameter Units Result Conc. Conc. Result Result % Rec % Rec Limits RPD RPD Clual Aldrin ug/L ND 1.00 1.00 0.436 0.361 43.6 36.1 10.0-141 18.8 40 P9 alpha-BHC ug/L ND 1.00 1.00 0.527 0.503 52.7 50.3 10.0-145 4.66 40 P9 beta-BHC ug/L ND 1.00 1.00 0.531 0.551 53.1 55.1 14.0-146 3.70 35 P9 delta-BHC ug/L ND 1.00 1.00 0.550 0.541 55.0 54.1 17.0-143 1.65 38 P9 gamma-BHC(Lindane) ug/L ND 1.00 1.00 0.529 0.523 52.9 52.3 14.0-141 1.14 40 P9 4,4'-DDD ug/L ND 1.00 1.00 0.451 0.321 45.1 32.1 10.0-160 33.7 38 P9 4,4'-DDE ug/L ND 1.00 1.00 0.376 0.262 37.6 26.2 10.0-159 35.7 35 J(R1), P9 4,4'-DDT ug/L ND 1.00 1.00 0.395 0.263 39.5 26.3 10.0-160 40.1 38 J(R1), P9 Dieldrin ug/L ND 1.00 1.00 0.455 0.360 45.5 36.0 10.0-158 23.3 38 P9 Endosulfan I ug/L ND 1.00 1.00 0.448 0.372 44.8 37.2 10.0-153 18.5 36 P9 Endosulfan II ug/L ND 1.00 1.00 0.446 0.347 44.6 34.7 10.0-159 25.0 39 P9 Endosulfan sulfate ug/L ND 1.00 1.00 0.387 0.401 38.7 40.1 23.0-147 3.55 35 P9 Endrin ug/L ND 1.00 1.00 0.465 0.353 46.5 35.3 10.0-160 27.4 39 P9 Endrin aldehyde ug/L ND 1.00 1.00 0.384 0.343 38.4 34.3 10.0-148 11.3 38 P9 Endrin ketone ug/L ND 1.00 1.00 0.498 0.331 49.8 33.1 10.0-160 40.3 40 J(R1), P9 Heptachlor ug/L ND 1.00 1.00 0.518 0.421 51.8 42.1 16.0-136 20.7 40 P9 Heptachlor epoxide ug/L ND 1.00 1.00 0.485 0.389 48.5 38.9 10.0-160 22.0 36 P9 Hexachlorobenzene ug/L ND 1.00 1.00 0.704 0.623 70.4 62.3 10.0-130 12.2 40 Methoxychlor ug/L ND 1.00 1.00 0.494 0.296 49.4 29.6 10.0-160 50.1 34 J(R1), P9 Decachlorobiphenyl(S) % 22.7 20.4 10.0-128 Tetrachloro-m-xylene(S) % 50.6 45.1 10.0-127 Results presented on this page are in the units indicated by the"Units"column except where an alternate unit is presented to the right of the result. REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 09:05 PM without the written consent of Pace Analytical Services,LLC. Page 10 of 16 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I QUALIFIERS Project: 115 N. Federal Hwy Pace Project No.: 35655959 DEFINITIONS DF-Dilution Factor, if reported,represents the factor applied to the reported data due to dilution of the sample aliquot. ND-Not Detected at or above adjusted reporting limit. TNTC-Too Numerous To Count MDL-Adjusted Method Detection Limit. PQL-Practical Quantitation Limit. RL-Reporting Limit-The lowest concentration value that meets project requirements for quantitative data with known precision and bias for a specific analyte in a specific matrix. S-Surrogate 1,2-Diphenylhydrazine decomposes to and cannot be separated from Azobenzene using Method 8270.The result for each analyte is a combined concentration. Consistent with EPA guidelines, unrounded data are displayed and have been used to calculate%recovery and RPD values. LCS(D)-Laboratory Control Sample(Duplicate) MS(D)-Matrix Spike(Duplicate) DUP-Sample Duplicate RPD-Relative Percent Difference NC-Not Calculable. SG-Silica Gel-Clean-Up U-Indicates the compound was analyzed for, but not detected. N-Nitrosodiphenylamine decomposes and cannot be separated from Diphenylamine using Method 8270. The result reported for each analyte is a combined concentration. Pace Analytical is TNI accredited.Contact your Pace PM for the current list of accredited analytes. TNI-The NELAC Institute. ANALYTE QUALIFIERS U Compound was analyzed for but not detected. J(R1) Estimated Value. RPD value was outside control limits. P9 RPD between the primary and confirmatory analysis exceeded 40%. REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 09:05 PM without the written consent of Pace Analytical Services,LLC. Page 11 of 16 Pace Analytical Services,LLC auceA�# t 3610 Park Central Blvd N { alyficaff Pompano Beach,FL 33064 www.pacelabs.com (954)582-4300 I QUALITY CONTROL DATA CROSS REFERENCE TABLE Project: 115 N. Federal Hwy Pace Project No.: 35655959 Analytical Lab ID Sample ID QC Batch Method QC Batch Analytical Method Batch 35655959001 GP-4 35655959001 GP-4 3510C 1726079 EPA 8081 1726079 REPORT OF LABORATORY ANALYSIS This report shall not be reproduced,except in full, Date:08/23/2021 09:05 PM without the written consent of Pace Analytical Services,LLC. Page 12 of 16 a60 d 0 41z wCL x. ci N u 55 q3 +73 i-I u� as a a'U xw 43 W ik F t p. rd a) r > �± a o m c u a a v a c vs ca E �w v E — o v nu� o m1 � �s u r a h u u a 6 ]v u E m o o o E a.J m �M41� umm w a n a c c ..,4 O 652 cl± # G U .. M 10 z h F- u "v9 '4.7 U F: 4 5 (p _ rd Eb en Sa H P7 C R7 2.y +b G7 z + b ?x €41 M O3 W 0-A °H ill u w 41 iP41 43 W 'mo AS5'v {1r Sf5 A+Rf3' 2$ o 1 'o, !'! i C C 53 Cf 4 {'.1 V5 4k Pi C q3 tti z' m d t z Trr Lr) m D m �, QD �q zf '. J. co q)M .. a vi �. '- {. to S3 y o i 3 E n �4,� h. LL ^E _ to L C Sv i S% ro '� 2 o kq Ql E • �, co o u iz h fl1 0 R5 R5 a e c7 o ra o ' a f] E Et9 A v e+ E roF d w ca z h z z c^", c m 0 a 'a ° d z w z az �cFE- u aD E ra E E E �� Lj cr 4. O �5 at a �. �., 'C �cc E > oO > ov a > a F! x.+ V u Q Q d lL u d > N c cc v wA VN E 3- p .. -' C fl 4J Cl 7••--. O � Q� O 'r'aL +u E " u Zaj ~ Q epi. .a tl3 cti 6i E E E cc LL Uo 1 iss et. k-- - o Lz } a j � c c � 41 c v m n E � Cn a 1 C/, a vOi p o E E tf z C @ a s u o u ID O V U dcr E o o '� a v E _ a ° 13o -46 u a w u° v a w u° u in u^ g u u c° UIUMIUWdLUI OdIIIIJ1111 LUy Iwcl U.'cu is aCeAnalytlCal' Document No.: Issuing Authority: Florida Laboratory F-FL-C-021 rev.00 Pace Florida Quality Office Form FD 9000-24 GROUNDWATER SAMPLING LOG SITE NAME: I �, 1 1i.�•. «1'CA /SOLATION: 1 � !�► F��'"e� c�� I�v��"/t � `l'� WELL NO: (7 Li SAMPLE ID: DATE: PURGING DATA WELL �� TUBING WELL SCREEN INTERVAL STATIC DEPTH PURGE PUMP TYPE DIAMETER(inches): DIAMETER(inches): DEPTH: Meet to IS S feet TO WATER(feet): I OR BAILER: �f WELL VOLUME PURGE: 1 WELL VOLUME_ (TOTAL WELL DEPTH - STATIC DEPTH TO WATER) X WELL CAPACITY (only fill out if applicable) ( � L - ��• � feet- 5, S feet <-%X �< gallons/foot = '� ' gallons EQUIPMENT VOLUME PURGE: 1 EQUIPMENT VOL.=PUMP VOLUME+(TUBING CAPACITY X TUBING LENGTH)+FLOW CELL VOLUME (only fill out if applicable) = gallons+( gallons/foot X feet)+ gallons = gallons INITIAL PUMP OR TUBING S FINAL PUMP OR TUBING ( C PURGING L / PURGING f Ll 143 TOTAL VOLUME DEPTH IN WELL(feet): �' l DEPTH IN WELL(feet): is > INITIATED AT: 1 SSd ENDED AT: r PURGED(gallons): 1, C' CUMUL. DEPTH COND. DISSOLVED VOLUME VOLUME PURGE TO PH TEMP. (circle units) OXYGEN TURBIDITY COLOR ODOR TIME PURGED (standard o µ (circle units) PURGED RATE WATER units) ( C) mhos/cm m !L or (NTUs) (describe) (describe) (gallons) (gallons) (gPm) (feet) or µS/cm %saturation G L c3,Z HI , 61 S 21 P Le tl I-7 D. 1Z �- r �► f , �� ► Z d zea S, �� S" Z _ 10 v 6. )S '7 c WELL CAPACITY(Gallons Per Foot): 0.75"=0.02; 1"=0.04; 1.25"=0.06; 2"=0.16; 3"=0.37; 4"=0.65; 5"=1.02; 6"=1.47; 12"=5.88 TUBING INSIDE DIA.CAPACITY Gal./Ft. : 1/8"=0.0006; 3/16"=0.0014 1/4"=0.0026; 5/16"=0.004 3/8"=0.006 112"=0.010 5/8"=0.016 PURGING EQUIPMENT CODES: B=Bailer; BP=Bladder Pump; ESP=Electric Submersible Pump; PP=Peristaltic Pump; O=Other(Specify) SAMPLING DATA SAMPLED BY(PRINT)/AFFILIATION: SAMPLER(S)SIGNATURE(S): SAMPLING SAMPLING /1 INITIATED AT: ,LI S ENDED AT: t� 'I j PUMP OR TUBING TUBINGry t7Cl S FIELD-FILTERED: Y FILTER SIZE: µm DEPTH IN WELL(feet): MATERIAL CODE: r Filtration Equipment T e: FIELD DECONTAMINATION: PUMP Y TUBING YN(rePlace� DUPLICATE: Y N SAMPLE CONTAINER SPECIFICATION SAMPLE PRESERVATION INTENDED SAMPLING SAMPLE PUMP SAMPLE # MATERIAL PRESERVATIVE TOTAL VOL FINAL ANALYSIS AND/OR EQUIPMENT FLOW RATE ID CODE CONTAINERS CODE VOLUME USED ADDED IN FIELD mL H METHOD CODE (mL per minute) i0c)(3-L REMARKS: MATERIAL CODES: AG=Amber Glass; CG=Clear Glass; PE=Polyethylene; PP=Polypropylene; S=Silicone; T=Teflon; O=Other(Specify) SAMPLING EQUIPMENT CODES: APP=After Peristaltic Pump; B=Bailer; BP=Bladder Pump; ESP=Electric Submersible Pump; RFPP=Reverse Flow Peristaltic Pump; SM=Straw Method(Tubing Gravity Drain); O=Other(Specify) NOTES: 1. The above do not constitute all of the information required by Chapter 62-160, F.A.C. 2. STABILIZATION CRITERIA FOR RANGE OF VARIATION OF LAST THREE CONSECUTIVE READINGS(SEE FS 2212 SECTION) pH:+0.2 units Temperature:+0.2°C Specific Conductance: ±5% Dissolved Oxygen:all readings<20%saturation(see Table FS 2200-2); optionally, +0.2 mg/L or+10%(whichever is greater) Turbidity:all readings<20 NTU;optionally±5 NTU or+ 10%(whichever is greater) Page 127 of 200 Book Number: Page 14 of 16 ^l o q F FF f 7, S ° O ° t• F Oq 0 0 9, fy d 1 z cell w a c v - ae z o a c moi+ C n g - ✓`J 6 V;Y �+ •'' U �Zz 0 E 8 ami Z � V CeJ 1 a � ✓ r o ci E a W d c S m ro N a 7ry I Q O O O O ff' 20 •� 3 312 r V N V _ N m 0 1.5 � /] -�' aJ v a; e•n� ems`� � � ;,�)1 �.l °. E .c c � a ° � °1 a' �e w N r a v o w x W O C V C Z c y V CY 0 O E U N UI L O . ro EO y d .cc L r � N� a { E E 'c `m L° ~ ami o 0 c w N H U U U V v U tl O F� 2R S 2 2 2 cn (n U)�. Fes- F� H H . O O O G z Page 15 of 16 Document Nami�.— Document Ravise& Sample Condition Upon Receipt Form May 30,2018 Document No,: Issuing Author4: F-P I — -- Pace Florida Quality Office Wn:Q�# : 3W6�5- 59W9��-- Project# PM--, CTR I)Ue 08/20/21 Date and Initials of person: Project Manager: CLIENT: 36—NUTTEN Examining contents: Client: Deliver: pH- Thermometer Used Date: Time: C) State of O For vermedm56°n Cooler wnTamp.'-_ _.'wva:> __ -_- ^��mao �°^m*/*""n/n.nvmm�pmoussoasu euu"_= + `c�nemmn�mom� q � I~� Cooler#2Temo.'o_______<vipuwU ________(unnecunpFactor)_kvmumV LJ Samples nnice,cooling process has begun Cooler#oTemn.^n_______(msww; _______nu,,ectmnFactor)________(Amux0 [] Samples ooire,cooling process has begun Cooler#4Tomp.^c______(v/mua; _______(co,r,ou|ooFactor)________(AowmV [] Samples onice,cooling process o*nunuun Cooler wsTomp.^C_______<v/svaV ______]oo,muuooFactor)________<AvmoU [JSamples"nice,cooling process has begun Cooler#aTemp.^o________<mv"uV _(Correction Factor)_(Actual) [] Samples unice,cooling»mcru*has begun Courier: [] Fed Ex L] UPS 1-J USPS [] Client Ll Commeroi Peco E]Other Shipping Method: uFirst Overnight oPriority Overnight oStandard Overnight EJ Ground oInternational Priority ED Other Billing: El Recipient osonom, oThird Party oCredit Card ounknown rmowon# Custody Seal on CoolorIlBox Present: L]Yes )lf'N. Seals intact: L1 Yes []No Ice: yet Blue Dry None Packing Material: ElBubble Wrap /B ubble Bags ENone E Other Samples shorted to lab(if Yes,complete) Shorted Date: Shorted Time: Qty: Com Chain of Custody Present 13 No ONIA Chain of Custody Filled Out oy<s 0 No ON/A Relinquished Signature&Sampler Name COC es El No ON/A Samples Arrived within Hold Time �es,El No EINIA Rush TAT requested on COO 4fl'Ye, C3 No LIN/A Sufficient Volume 2 1es 11 No 11N/A Correct Containers Used 211-els 0 No ON/A Sample Labels match COO(sample IDs&dateltime of collection) I 1=1 No ON/A All containers needing acid/base preservation have been Preservation Information: checked. []Yes 0 No XIA Preservative: All Containers needing preservation are found to be in 1-11 Lot#/Trace#- E ceplions:VOA,Coliform,TOC,C&G,Carbarnates Initials: Client Notification/Resolution: Person Contacted: Date/Time: Comments/n=ovmuvn(xv°back for additional cummoms): Project Manager Review: omua: Page 1sm1s 0000000 000m v o m ar m a m omo m v o o m ko m y m 0 T Y 06 l0 N N T Y V1 N Ol Ln c0 c0 C C 8 W l0 r W l0 r Y O to O N Y O to O N V N N M V N N M O Ln LnGl Gl C C 7 7 l0 W 7 00 V1 W ati ati H 1p M N N H ti N 7 7 w W a) N T c o m a o cl o a m OJ O lD lD lD O OJ O d' N N T N N O) N.. T N O).N. T >, . w o •U O a-i N � O O H H W C Q N m ko M N. N.w 00 T N. ON m O O t0 •L n .-I to 0 O �..LL:C. i Vl of t0 O M w:..P::O: Y O N Ol tA. 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N (n rn y - N IM m Im 0 V y r Q 00 .1t 0 N 0 0 0 0 O O Lam} W LL 0 O L O LL ch ch 00 N Q 63 Q"> O CY aL i w 22chL :E E VN U- aw 0) o ,� p 0 pp p 06 cQU W o m Y o aL L L CO CU E E 0 'LC? � Im � oLo y Eo o E tC `�° E `�° d 0 i 0 tnUO t 0 cC 7 Q p M 0 p m Q w p y 0 PURCHASE AND DEVELOPMENT AGREEMENT This Purchase and Development Agreement (hereinafter "Agreement") is made and entered into as of the Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY,a public agency created pursuant to Chapter 163,Part III,of the Florida Statutes,with a business address of 100 East Ocean Avenue,4th Floor,Boynton Beach,Florida 33435,(hereinafter"SELLER")and BB QOZ,LLC,a Florida Limited Liability Company with a business address of 613 NW 3rd Ave.,Ste 104,Fort Lauderdale,Florida 33311 (hereinafter "PURCHASER." SELLER & PURCHASER may be referred to herein individually as "Party" and collectively as the"Parties." In consideration of the mutual covenants and agreements herein set forth, the receipt and sufficiency of which is hereby acknowledged,the Parties hereto agree as follows: 1. PURCHASE AND SALE/PROPERTY. SELLER agrees to sell and convey to PURCHASER and PURCHASER agrees to purchase and acquire from SELLER, on the terms and conditions hereinafter set forth, the real property legally described in Exhibit "A" attached hereto (hereinafter the "Property"),which is hereby incorporated herein. The Parties intend that the purchase and sale and ensuing redevelopment of the Property will be effectuated in order to reduce slum and blight and to enable the construction of a mixed-use, transit-oriented development containing a mixed-income workforce housing rental apartment building with a minimum of 236 rental units available to various affordability ranges as set forth in the Tax Increment Revenue Financing Agreement attached here to as Exhibit"B" ("TIRFA") a minimum of 16,800 square feet of commercial space (e.g. restaurant, retail, and office), and 150 public parking spaces in addition to parking for the Project's residential and commercial tenants and providing public pedestrian connectivity within the Property, consistent with the proposal submitted by PURCHASER (the "Proposal") in response to the Request for Proposals and Developer Qualifications for the 115 N.Federal Highway Infill Mixed-Use Redevelopment Project ("RFP")issued by the CRA on July 23,2021,incorporated herein by this reference(the"Project"). The Project may be revised by PURCHASER from time to time pursuant to the terms of the TIRFA. 2. PURCHASE PRICE AND PAYMENT. The Purchase Price for the Property shall be ONE HUNDRED AND 00/100 DOLLARS($100.00)to be paid in full at Closing. SELLER has complied 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 2 of 20 with Section 163.380,Florida Statutes,in proceeding with the sale of the Property to PURCHASER. 3. DEPOSITS. A Deposit in the amount of[TEN THOUSAND AND 00/100 DOLLARS ($10,000.00)](the"Deposit")shall be deposited Lewis,Longman&Walker,P.A.("Escrow Agent") within five (5) business days of the Effective Date. The Deposit shall be nonrefundable to PURCHASER after the expiration of the Feasibility Period,unless otherwise provided herein and shall be credited against PURCHASER'S costs at closing. 4. EFFECTIVE DATE. The date of this Agreement(the "Effective Date") shall be the date when the last one of the Parties has signed this Agreement. 5. Intentionally Deleted 6. CLOSING DATE. The purchase and sale transaction contemplated herein shall close within thirty-six(36) months after PURCHASER's receipt of the Land Use Approvals unless extended by other provisions of this Agreement or by written agreement,signed by both parties. Notwithstanding the foregoing,the PURCHASER shall have the right to extend the Closing Date by up to 4 e e ,7 }.4pc_-ie4q-4-twelve(12) months subject to the prior written approval of SELLER, which written approval shall not be unreasonably withheld, condition or delayed provided that PURCHASER is exercising good faith and due diligence to achieve the Closing and further provided that PURCHASER delivers notice of its election to exercise such extension at least thirty (30) days prior to the then-Closing Date. Unless earlier terminated pursuant to the terms of this Agreement,this Agreement shall automatically terminate should PURCHASER fail to close pursuant to this Section. 7. TITLE TO BE CONVEYED. At Closing,SELLER shall convey to PURCHASER,by Special Warranty Deed complying with the requirements of the Title Commitment(hereinafter defined), valid,good,marketable and insurable title in fee simple to the Property,free and clear of any and all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions except only the following(collectively,the"Permitted Exceptions"):(a)general real estate taxes and special assessments for the year of Closing and subsequent years not yet due and payable; (b)covenants,conditions,easements,dedications,rights-of-way and matters of record included on the Title Commitment or shown on the Survey(defined in Section 8.3),to which PURCHASER fails to object, or which PURCHASER agrees to accept. SELLER acknowledges that PURCHASER may,after Closing,pursue a unity of title with respect to the Project and/or certain parcel splits with respect to the Project. SELLER shall reasonably cooperate with PURCHASER, at no cost to SELLER, in order to coordinate and accommodate PURCHASER's pre-closing and post-closing work in connection with the foregoing sentence. 8. INVESTIGATION OF THE PROPERTY. For a period until sixty (60) days from the Effective Date ("Feasibility Period"), PURCHASER and PURCHASER'S agents, employees, designees, contractors, surveyors, engineers, architects, attorneys and other consultants 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 3 of 20 (collectively, "Agents"),shall have the right,at PURCHASER'S expense,to make inquiries of,and meet with members of Governmental Authorities regarding the Property and to enter upon the Property,at any time and from time to time with reasonable notice to SELLER and so long as said investigations do not result in a business interruption, to perform any and all physical tests, inspections,and investigations of the Property, including but not limited to Phase I and Phase II environmental investigations, which PURCHASER may deem necessary. During the Feasibility Period, PURCHASER may elect, in PURCHASER'S sole and absolute discretion,to terminate this Agreement,in which event the Deposit shall be promptly refunded to PURCHASER.If PURCHASER elects to terminate this Agreement in accordance with this Section, PURCHASER shall: (i) shall repair and restore any damage caused to the Property by PURCHASER'S testing and investigation; and (ii) release to SELLER,at no cost,all non-proprietary and non-confidential reports and other work generated as a result of the PURCHASER'S testing and investigation. PURCHASER hereby agrees to indemnify and hold SELLER harmless from and against all claims, losses, expenses, demands and liabilities,including,but not limited to,reasonable attorney's fees,for nonpayment for services rendered to PURCHASER (including, without limitation, any construction liens resulting therefrom) or for damage to persons or property arising out of PURCHASER'S investigation of the Property; provided, however, the foregoing indemnification obligations of PURCHASER shall not apply to (i) any damages arising from the negligence or misconduct of SELLER, its agents,employees or representatives,or(ii)any conditions or defects existing on, in or under the Property or arising out of the mere discovery of such conditions or defects on, in, under or within the Property. PURCHASER'S obligations under this Section shall survive Closing and the termination of this Agreement for a period of one(1)year. 8.1 SELLER's Documents. SELLER shall deliver to PURCHASER the following documents and instruments within ten (10) days of the Effective Date of this Agreement: any existing title policies, surveys, appraisals, copies of any reports or studies (including environmental, engineering, surveys, soil borings and other physical reports) in SELLER'S possession or control with respect to the physical condition of the Property,copies of all permits, authorizations and approvals issued by Governmental Authorities for the Property and any correspondence which discloses claims, allegations or adverse information regarding the Property or SELLER with respect to the Property,and any other documents reasonably requested by PURCHASER. 8.2 Title Review. Within thirty (30) days of the Effective Date, SELLER's counsel, as closing agent for the transaction contemplated herein (the "Closing Agent") shall obtain, at the SELLER'S expense, from Old Republic National Title Insurance Company (hereinafter"Title Company"),a Title Commitment coveringthe Propertyand proposingto insure PURCHASER in the amount of the Purchase Price subject only to the Permitted Exceptions, together with complete and legible copies of all instruments identified as conditions or exceptions in Schedule B of the Title Commitment. PURCHASER shall examine the Title Commitment and deliver written notice to SELLER no later than twenty(20)days after receipt of the Title Commitment notifying SELLER of any objections PURCHASER has to the condition of title 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 4 of 20 (hereinafter"PURCHASER'S Title Objections"). If PURCHASER fails to deliver PURCHASER'S Title Objections to SELLER within the aforesaid review period,title shall be deemed accepted subject to the conditions set forth in the Title Commitment. If PURCHASER timely delivers the PURCHASER'S Title Objections, then SELLER shall have thirty (30) days to cure and remove the PURCHASER'S Title Objections(hereinafter"Cure Period"). In the event that SELLER is unable or unwilling to cure and remove, or cause to be cured and removed, the PURCHASER'S Title Objections within the Cure Period to the satisfaction of PURCHASER, then PURCHASER, in PURCHASER'S sole and absolute discretion,shall have the option of(i)extending the Cure Period for one additional thirty(30) day period at no cost to PURCHASER, or(ii) accepting the Title to the Property as of the time of Closing or(iii)canceling and terminating this Agreement,in which case, the Deposit shall be returned to PURCHASER and the Parties shall have no further obligations or liability hereunder, except for those expressly provided herein to survive termination of this Agreement. Notwithstanding anything to the contrary in this Agreement, SELLER shall be obligated, at Closing, to cause the Title Company to remove (by waiver or endorsement) the following (collectively, the "Required Cure Items"), whether or not PURCHASER objects to such items in PURCHASER's Title Objections:any(a)mortgage or deed of trust granted by SELLER affecting the Property; (b) mechanic's lien with respect to work contracted for by SELLER at the Property; (c) liens securing the payment of taxes and assessments; and (d)other liens encumbering the Property(including judgments,federal,state and municipal tax liens). Prior to the Closing, PURCHASER shall have the right to cause the Title Company to issue one updated Title Commitment ("Title Update") covering the Property. If any Title Update contains any conditions which did not appear in the Title Commitment,and such items have an adverse effect on the Property or the Project, in PURCHASER's sole and absolute discretion,PURCHASER shall have the right to object to such new or different conditions in writing prior to Closing. All rights and objections of the Parties with respect to objections arising from the Title Update shall be the same as objections to items appearing in the Title Commitment, subject to the provisions of this Section. 8.3 Survey Review. PURCHASER, at PURCHASER'S expense, may obtain a current boundary survey(the"Survey")of the Property. If the Survey discloses any matters that are unacceptable to PURCHASER, in PURCHASER's sole and absolute discretion,the same shall constitute a title defect and shall be governed by the provisions of Section 8.2 concerning title objections. 9. CONDITIONS TO CLOSING. PURCHASER shall not be obligated to close on the purchase of the Property unless each of the following conditions(collectively,the"Conditions to Closing")are either fulfilled or waived by PURCHASER in writing: 9.1 Marketable Title. SELLER delivering marketable title to the Property subject only to those title exceptions acceptable to the PURCHASER,all as more specifically set 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 5 of 20 forth herein. 9.2 Representations and Warranties. All of the representations and warranties of SELLER contained in this Agreement shall be true and correct as of Closing. 9.3 Pending Proceedings. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever involving the Property or the SELLER, pending or threatened,which has not been disclosed, prior to closing, and accepted by PURCHASER. 9.4 Compliance with Laws and Regulations. The Property shall be in compliance with all applicable federal,state and local laws,ordinances,rules,regulations,codes, requirements,licenses,permits and authorizations as of the date of Closing. 9.5 Land Use Approvals. PURCHASER obtaining all required site plan, zoning and platting/replatting approvals from the City of Boynton Beach necessary to procure building permits to construct the Project on the Property(the"Land Use Approvals").SELLER authorizes the Buyer to apply for and obtain the necessary Land Use Approvals and agrees to cooperate in any such applications and the approval process and to execute without delay any and all required documentation necessary to make application for Land Use Approvals for the Project. 9.6 Occupancy. The Property shall be conveyed to PURCHASER at Closing subject only to the Leases(hereinafter defined). 9.7 Estoppels.SELLER shall have delivered an estoppel certificate from each of the tenants under the Leases,dated not more than thirty(30)days prior to the Closing Date, in the form attached hereto as Schedule 9.7,which shall be delivered to PURCHASER at least five (5)days prior to the Closing Date. 9.8 Service Contracts. At Closing, SELLER shall terminate all service and management contracts relating to the Property at SELLER's sole cost and expense, unless PURCHASER elects to assume any of such contracts,in PURCHASER's sole and absolute discretion. 9.9 Permits and Code Violations. SELLER shall have closed out all open or expired permits and cured any code violations applicable to the Property prior to the Closing Date.For the avoidance of doubt,any legal,non-conforming use approved by the City of Boynton Beach shall not be deemed to be code violation. If any condition precedent set forth in the foregoing Section 9 hereof is not satisfied as of the Closing Date (or within the time frame specifically set forth in such clause), and PURCHASER elects,in PURCHASER's sole and absolute discretion,not to waive such condition precedent,then PURCHASER shall have the right to terminate this Agreement by written notice to SELLER, in 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 6 of 20 which event the Deposit shall be returned to PURCHASER and this Agreement shall be null and void and neither party shall have any further rights or obligations under this Agreement except those which expressly survive termination. 10. CLOSING DOCUMENTS. The SELLER shall prepare, or cause to be prepared, the Closing Documents set forth in this Section, except for documents prepared by the Title Company. At Closing,SELLER shall execute and deliver,or cause to be executed and delivered to PURCHASER the following documents and instruments: 10.1 Deed and Authorizing Resolutions. SELLER shall furnish a Special Warranty Deed (the "Deed") conveying to PURCHASER valid, good, marketable and insurable fee simple title to the Property free and clear of all liens,encumbrances and other conditions of title other than the Permitted Exceptions, together with such resolutions or other applicable authorizing documents evidencing approval of the transaction by the SELLER's governing body as the Closing Agent and the Title Company may require. The deed shall meet the requirements of Section XXX herein. 10.2 SELLER's Affidavits. SELLER shall furnish to Title Company and the PURCHASER an owner's affidavit acceptable to the Title Company attesting that,to the best of its knowledge, no individual or entity has any claim against the Property under the applicable construction lien law, that the SELLER will not record or enter into documents affecting the Property after the last effective date on the Title Commitment,and that there are no parties in possession of the Property other than SELLER. SELLER shall also furnish to PURCHASER a non- foreign affidavit with respect to the Property.In the event SELLER is unable to deliver its affidavits referenced above,the same shall be deemed an uncured Title Objection. 10.3 Closing Statement. A closing statement setting forth the Purchase Price, all credits,adjustments and prorations between PURCHASER and SELLER,all costs and expenses to be paid at Closing,and the net proceeds due SELLER,which PURCHASER and SELLER shall also execute and deliver at Closing. 10.4 Corrective Documents. Documentation required to clear title to the Property of all liens,encumbrances and exceptions,if any,other than Permitted Exceptions. 10.5 Assignment of Leases. An Assignment and Assumption of Leases,Security Deposits and Service Contracts in the form attached hereto as Exhibit [_]. 10.6 Bring-Down Certificate. A "bring-down" certificate executed by SELLER recertifying SELLER's representations and warranties set forth in this Agreement as of the Closing Date,in the form attached hereto as Schedule 10.6. 10.7 Leases and Service Contracts. Originals, or, if unavailable, copies, of the 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 7 of 20 Leases (together with all tenant files, tenant ledgers and records) and assigned and assumed Service Contracts then in effect at the Property. 10.8 Miscellaneous.Any keys,access cards,combinations and pass codes to any locks and security systems on the Property over which SELLER has control shall be left by SELLER at the Property upon Closing. All correspondence and documents in SELLER's possession or control relating to the Leases and the operation of the Property shall be left by SELLER at the Property upon Closing; 10.9 Additional Documents. Such other documents as PURCHASER or the Title Company may reasonably request that SELLER execute and deliver, and any other documents required by this Agreement or reasonably necessary in order to close this transaction and effectuate the terms of this Agreement. 11. PRORATIONS,CLOSING COSTS AND CLOSING PROCEDURES. 11.1 Prorations. Taxes and assessments, if any, for the Property shall be prorated as of the day before Closing. Cash at Closing shall be increased or decreased as may be required by prorations to be made through the day prior to Closing. Taxes shall be prorated based upon the current year's tax with due allowance made for maximum allowable discount. If Closing occurs at a date when the current year's millage is not fixed and current year's assessment is available, taxes will be prorated based upon such assessment and prior year's millage. If current year's assessment is not available,then taxes will be prorated on prior year's tax. A tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax bill which discloses an actual difference in the amount of the taxes estimated at Closing that exceeds$1,000.00. 11.2 Proration of Rents. The rent payable by tenants under the Leases shall be prorated as of the day before Closing; provided,however,that rent and all other sums which are due and payable to SELLER by any tenant but uncollected as of the Closing (collectively, the "Delinquent Amounts") shall not be adjusted. At Closing, SELLER shall deliver to PURCHASER a schedule of all such Delinquent Amounts. 11.3 Proration of Utilities. Water,electric,and all other utility and fuel charges shall be prorated as of the day before Closing (to the extent possible, utility prorations will be handled by meter readings on the day immediately preceding the Closing Date). 11.4 Prepaid Rents and Security Deposits. At Closing, SELLER shall credit to PURCHASER the amount of any unapplied security deposits or prepaid rents under the Leases. 11.5 Closing Costs. SELLER shall pay for the documentary stamps on the Deed, 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 8 of 20 the cost of the Owner's Policy of Title Insurance,the cost of satisfying any liens which SELLER is obligated to satisfy, the cost of recording the Deed and any cost associated with curing title. PURCHASER shall pay for all endorsements to the Owner's Policy of Title Insurance (including, without limitation, premiums for any loan policy or endorsements thereto required by PURCHASER's lender, if any), and the cost of any documentary stamp or intangible tax in connection with PURCHASER's financing. Each party shall be responsible for their respective attorneys'fees. 11.6 Closing Procedure. PURCHASER shall fund the Purchase Price subject to the credits,offsets and prorations set forth herein. SELLER and PURCHASER(as applicable)shall execute and deliver to the Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i) disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marked-up"Title Commitment to PURCHASER, and promptly thereafter, record the Deed and other recordable Closing Documents in the appropriate public records. 11.7 Existing Mortgages and Other Liens. At Closing, SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments applicable to and encumbering the Property. 12. REPRESENTATIONS, COVENANTS AND WARRANTIES. SELLER hereby represents, covenants and warrants to PURCHASER, as of the Effective Date and as of the Closing Date, as follows: 12.1 Authority. The execution and delivery of this Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER in accordance with its terms.The person executing this Agreement on behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER,and this Agreement represents a valid and binding obligation of SELLER. 12.2 Title. SELLER is and will be on the Closing Date,the owner of valid,good, marketable and insurable fee simple title to the Property, free and clear of all liens, encumbrances and restrictions of any kind,except the Permitted Exceptions(and encumbrances of record which will be discharged at Closing). 12.3 Litigation. There are no actions, suits, proceedings or investigations pending or threatened against SELLER or the Property affecting any portion of the Property, including but not limited to condemnation actions. 12.4 Parties in Possession. Except for the Tenants listed on the rent roll attached hereto as Exhibit[_],there are no parties other than SELLER in possession or with a right to possession of any portion of the Property. 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 9 of 20 12.5 Acts Affecting Property. Except as required by law or as necessary to address Tenant needs,from and after the Effective Date,SELLER will refrain from(a)performing any grading, excavation, construction, or making any other change or improvement upon or about the Property; (b)creating or incurring,or suffering to exist,any mortgage,lien, pledge,or other encumbrances in any way affecting the Property other than the Permitted Exceptions (including the mortgages,liens,pledges,and other encumbrances existing on the Effective Date) and (c)committing any waste or nuisance upon the Property. 12.6 Leases. SELLER has delivered to PURCHASER true, correct and complete copies of all the Leases.To SELLER's knowledge:(i)each Lease is in full force and effect;(ii)neither landlord nor tenant are in default under the Leases and no event has occurred or failed to occur which,with the passage of time or giving of notice or both,would constitute a default under any such Lease; (iii) no tenant has paid any rent for more than one month in advance and (iv) no tenant is entitled to any free rent,abatement of rent or similar concession. 12.7 Violations.The Property is not in violation of any building, fire or health code or any other statute, law, ordinance or code applicable to the Property.There are no: (i) existing or pending improvement liens affecting the Property;(ii)existing,pending or threatened zoning,building or other moratoria,downzoning petitions,proceedings,restrictive allocations or similar matters that could have a material adverse effect on the use and value of the Property. 12.8 Employees. There are no employees of SELLER employed in connection with the Property whom PURCHASER would be obligated to retain or compensate after the Closing Date. 13. DEFAULT. 13.1 PURCHASER'S Default. In the event that this transaction fails to close due to a wrongful refusal to close or a material default on the part of PURCHASER, SELLER shall be entitled to retain the Deposit, and neither PURCHASER nor SELLER shall have any further obligation or liabilities under this Agreement,except for those expressly provided to survive the termination of this Agreement;provided,however,that PURCHASER shall also be responsible for the removal of any liens asserted against the Property by persons claiming by,through or under PURCHASER. 13.2 SELLER'S Default. In the event that SELLER fails to fully and timely perform any of its obligations and covenants hereunder or if SELLER is in breach of any representations herein or is otherwise default under this Agreement, which default has not been cured as provided for herein, PURCHASER may, at its option (i) declare SELLER in default under this Agreement in which event PURCHASER may terminate this Agreement,receive back its Deposit, 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 10 of 20 and thereafter neither party shall have any further rights hereunder, (ii) seek specific performance of this Agreement;or(iii)waive SELLER's default and proceed to Closing. 13.3 Notice of Default. Prior to declaring a default and exercising the remedies described herein,the non-defaulting Party shall issue a notice of default to the defaulting Party describing the event or condition of default in sufficient detail to enable a reasonable person to determine the action necessary to cure the default. The defaulting Party shall have thirty (30) days from delivery of the notice during which to cure the default, provided,however,that as to a failure to close,the cure period shall only be three(3)business days from the delivery of notice. If the default has not been cured within the aforesaid period, the non-defaulting Party may exercise the remedies described herein. 14. NOTICES. All notices required in this Agreement must be in writing and shall be considered delivered when received by certified mail, return receipt requested, or personal delivery to the following addresses: If to SELLER: Boynton Beach Community Redevelopment Agency Attention: Thuy Shutt,Executive Director 100 E.Ocean Avenue,4th Floor Boynton Beach,FL 33435 With a copy to: Kenneth Dodge,Esquire Lewis,Longman&Walker,P.A. 360 S.Rosemary Ave,Suite 1100 West Palm Beach,Florida 33401 If to PURCHASER: BB QOZ,LLC Attention:Jeff Burns&Nicholas Rojo 613 NW 3rd Ave.,Ste.104 Fort Lauderdale, Florida 33311 With a copy to: Kapp Morrison LLP Attention:Lance M.Aker,Esq. 7900 Glades Road,Ste 550 Boca Raton,Florida 33434 15. BINDING OBLIGATION/ASSIGNMENT. The terms and conditions of this Agreement are hereby made binding on, and shall inure to the benefit of, the successors and permitted 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 11 of 20 assigns of the Parties hereto. SELLER may not assign its interest in this Agreement without the prior written consent of PURCHASER, in PURCHASER's sole and absolute discretion. It is understood, however,that SELLER may assign its interest to the City of Boynton Beach without the prior written consent of PURCHASER,provided that the City of Boynton Beach acknowledges in the document assigning this Agreement that it shall be obligated to close the transaction contemplated herein and comply with apply with all Sections of this Agreement as if such assignee were the original party to this Agreement. This Agreement may be assigned,without the prior written consent of SELLER,by PURCHASER to an entity that is managed by PURCHASER's key principals, Jeff Burns and Nicholas Rojo, and thereafter PURCHASER'S assignee shall be obligated to close the transaction contemplated herein and comply with apply with all Sections of this Agreement as if such assignee were the original party to this Agreement. Any assignment by PURCHASER to an unrelated party shall be subject to the written approval of SELLER. 16. RISK OF LOSS. In the event the condition of the Property,or any part thereof, is materially altered by an act of God or other natural force beyond the control of SELLER, PURCHASER may elect, as its sole option,to terminate this Agreement and receive a refund of the Deposit and the parties shall have no further obligations under this agreement, except as specifically provided herein, or PURCHASER may accept the Property without any reduction in the value of the Property. In the event of the institution of any proceedings by any Governmental Authority which shall relate to the proposed taking of any portion of the Property by eminent domain prior to Closing,or in the event of the taking of any portion of the Property by eminent domain prior to Closing, SELLER shall promptly notify PURCHASER and PURCHASER shall thereafter have the right and option to terminate this Agreement by giving SELLER written notice of PURCHASER's election to terminate within fifteen(15)days after receipt by PURCHASER of the notice from SELLER. SELLER hereby agrees to furnish PURCHASER with written notice of a proposed condemnation within two(2)business days after SELLER's receipt of such notification. Should PURCHASER terminate this Agreement, the Deposit shall immediately be returned to PURCHASER and thereafter the Parties shall be released from their respective obligations and liabilities hereunder. Should PURCHASER elect not to terminate,the parties hereto shall proceed to Closing and SELLER shall assign all of its right,title and interest in all awards in connection with such taking to PURCHASER. 17. BROKER FEES. The Parties hereby confirm that neither of them has dealt with any broker in connection with the transaction contemplated by this Agreement. Each Party shall indemnify,defend and hold harmless the other Party from and against any and all claims,losses, damages, costs or expenses (including, without limitation, attorney's fees) of any kind or character arising out of or resulting from any agreement,arrangement or understanding alleged to have been made by either Party or on its behalf with any broker or finder in connection with this Agreement. Notwithstanding the foregoing, SELLER'S indemnification obligations shall not exceed the statutory limits provided within Section 768.28,Florida Statutes,and SELLER does not otherwise waive its sovereign immunity rights.The provisions of this Section shall survive Closing or termination of this Agreement. 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 12 of 20 18. ENVIRONMENTAL CONDITIONS. To the best of SELLER'S knowledge,the Property and the use and operation thereof are in compliance with all applicable county and governmental laws, ordinances, regulations, licenses, permits and authorizations, including,without limitation, applicable zoning and environmental laws and regulations. 19r+„r+eRall„9ek4Q4L PURCHASER shall assume the rights and make best efforts to perform all obligations of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY described in Section 21 of the Purchase and Sale Agreement between the SELLER and 500 Ocean Properties,LLC,attached hereto as Exhibit f 1. 20. LEASES/RELOCATION. 20.1. At Closing, the following leases shall be assigned in their entirety to PURCHASER(the"Leases"): • Freddie Brinley-517%E.Ocean Avenue,Apt.5 • Harvey E. Oyer,Jr., Inc. d/b/a Oyer Macoviak and Associates - 511 E. Ocean Avenue • Cafe Barista,Inc.d/b/a Hurricane Alley-527,529&531 E.Ocean Avenue • Florida Technical Consultants,LLC-533 E.Ocean Avenue,Suites 2&3 • Kala Marketing Group and Reinaldo Schiavinato-533 E.Ocean Avenue,Suite 5 20.2.PURCHASER acknowledges that a current tenant of the Property is Hurricane Alley("HA Tenant").PURCHASER shall use reasonable efforts to relocate HA Tenant to the Project and shall use reasonable efforts to work with HA Tenant to phase construction activities of the Project in order to minimize (in the exercise of commercial ,reasonableness) the timeframe Commented[STI]:Need to define commerelal between demolition of the HA Tenant's current premises and construction and delivery of HA �teasonabteness ------------------------------------------------------------------------------------------ Tenant's new premises within the Project. 21. DEVELOPMENT TIMELINE. The following events must occur and be documented in writing and provided to the SELLER upon completion of each action (collectively the "Project Milestones").At all times after the Effective Date,SELLER shall cooperate with PURCHASER using good faith and due diligence to facilitate and expedite PURCHASER's satisfaction of the Project Milestones,which include,without limitation,the Land Use Approvals. 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 13 of 20 21.1 Submission of application to the City for site plan approval within one hundred eighty(180)days from the Effective Date. 21.2 PURCHASER shall diligently and continuously pursuing site plan approval and all other required Land Use Approvals until the same are issued. - commented[sr2]:weed better language for deadline for Land Use approval.Or else there will be approximately 4.5 21.3 Approval of the construction loan in an amount sufficient to develop the j cyears ompletion. no date for i completion.Will need following: Project on or before Closing. PURCHASER shall provide SELLER verifiable documentation 1.Deadline for site plan approval necessary to evidence that financing has been obtained for construction of the Project, 2.Deadline for building permit application within ten (10) days of receipt of such approval by the PURCHASER and no later than 3.Deadline for permit issuance { 4_Deadline_fot_completion of construction Closing. PURCHASER shall provide SELLER with updates on the process of obtaining financing for the Project, together with reasonable documentation, upon SELLER's request therefor. 21.4 Intentionally deleted. 21.5 Commencement of Construction within two (42)years of the Closing Date pursuant to the terms of this Agreement.Notwithstanding anything to the contrary herein, PURCHASER may extend the deadline for Construction Commencement by one (1) period of twelve (12) months, subject to receipt of written approval from SELLER, which approval shall not be unreasonably withheld, conditioned or delayed provided PURCHASER is using good faith efforts and due diligence to achieve Construction Commencement. "Construction Commencement" means the date when both of the following have occurred: PURCHASER has provided adequate proof of a financial closing, and PURCHASER has actually begun construction activities, including demolition, site clearing, excavation, utility relocation consistent with the City Code and all applicable permits +a eg,a , such that construction activities will continue on a consistent basis to complete construction of the Project. For purposes of this Section, a "financial closing" means the date on which all financial agreements and loan documents for the financing of the Project through completion have been executed and all required conditions contained in such financial agreements and loan documents have been satisfied,as determined by the Lender and PURCHASER. 21.6 Completion of Construction within thirty-six(36)months of Commencement of Construction;provided,however,Developer shall have the right to extend the deadline for receipt of the temporary certificate of occupancy for one (1) period of twelve (12) months subject to receipt of written approval from the CRA,which approval shall not be unreasonably withheld, condition or delayed by provided Developer is using good faith efforts and due diligence to obtain the temporary certificate of occupancy.After receipt of a temporary certificate of occupancy, Developer shall use good faith efforts and due diligence to obtain a final certificate of occupancy in an expeditious manner. 22. Intentionally Deleted. 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 14 of 20 22.1 Reverter Clause.The Special Warranty Deed shall contain a reverter clause (the"Reverter Clause")that shall run with the Property from the Closing Date until Construction Commencement,at which point the Reverter Clause shall automatically terminate.SELLER shall have the right to exercise its right of reverter if Commencement of,Construction does not occur ;Commented[ST3] 41 ii<�< u1< 1< ,cu 'icr as to how pursuant to the timeline set forth in Section 21.5 hereof. In the event the SELLER exercises its 1 long should reverter remain in effect(commencement or n)_ right of reverter, SELLER shall pay to PURCHASER: (i) the Purchase Price of the property as set completion of constructio forth in Section 2 of this Agreement; and (ii) the amount of all out-of-pocket predevelopment and development costs incurred by Buyer in connection with the Project, which shall be evidenced by bank statements, invoices and other documentation reasonably requested by SELLER, to the extent that the costs associated with those improvements have not been recaptured by the PURCHASER.To carry out the terms of this Section, PURCHASER shall execute a reverter agreement in the form set forth on Exhibit"B." 23. MISCELLANEOUS. 23.1 General. This Agreement, and any amendment hereto, may be executed in any number of counterparts,each of which shall be deemed to be an original and all of which shall, together, constitute one and the same instrument. The section and paragraph headings herein contained are for the purposes of identification only and shall not be considered in construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire Section, unless otherwise specified. No modification or amendment of this Agreement shall be of any force or effect unless in writing executed by Parties. This Agreement sets forth the entire agreement between the Parties relating to the Property and all subject matter herein and supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral,between the Parties. This Agreement shall be interpreted in accordance with the laws of the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising out of this Agreement shall be in the Fifteenth Judicial Circuit in and for Palm Beach County,Florida,or,should any cause of action be limited to federal jurisdiction only,in the United States District Court for the Southern District Court of Florida. 23.2 Computation of Time. Any reference herein to time periods which are not measured in business days and which are less than six(6)days,shall exclude Saturdays,Sundays and legal holidays in the computation thereof. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. on the next full business day. Time is of the essence in the performance of all obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the calculation thereof. 23.3 Waiver. Neither the failure of a party to insist upon strict performance of any of the terms, provisions,covenants,agreements and conditions hereof, nor the acceptance of any item by a party with knowledge of a breach of this Agreement by the other party in the 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 15 of 20 performance of their respective obligations hereunder,shall be deemed a waiver of any rights or remedies that a party may have or a waiver of any subsequent breach or default in any of such terms, provisions, covenants, agreements or conditions. This Section shall survive termination of this Agreement and the Closing. 23.4 Construction of Agreement. The Parties to this Agreement, through counsel, have participated freely in the negotiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the Parties. As used in this Agreement,or any amendment hereto,the masculine shall include the feminine, the singular shall include the plural,and the plural shall include the singular,as the context may require. Provisions of this Agreement that expressly provide that they survive the Closing shall not merge into the Deed. 23.5 Severability. If any provision of this Agreement or the application thereof shall,for any reason and to any extent,be invalid or unenforceable,neither the remainder of this Agreement nor the application of the provision to other persons,entities or circumstances shall be affected thereby,but instead shall be enforced to the maximum extent permitted by law.The provisions of this Section shall apply to any amendment of this Agreement. 23.6 Handwritten Provisions. Handwritten provisions inserted in this Agreement and initialed by SELLER and PURCHASER shall control all printed provisions in conflict therewith. 23.7 Waiver of Jury Trial. As an inducement to PURCHASER agreeing to enter into this Agreement,PURCHASER and SELLER hereby waive trial byjury in any action or proceeding brought by either party against the other party pertaining to any matter whatsoever arising out of or in any way connected with this Agreement. 23.8 Attorneys Fees and Costs. Should it be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable attorneys'fees and costs, including those at the appellate level,shall be awarded to the prevailing party.However,SELLER's obligation under this section shall not exceed the statutory limits provided within Section 768.28, Florida Statutes,and nothing in this Agreement shall be deemed a waiver of SELLER's sovereign immunity rights. 23.9 Binding Authority. Each party hereby represents and warrants to the other that each person executing this Agreement on behalf of the PURCHASER and SELLER has full right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 23.10 No Recording. This Agreement shall not be recorded in the Public Records of Palm Beach County,Florida without the prior approval of both parties. 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 16 of 20 23.11 Survival. The covenants, warranties, representations, indemnities and undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and recording of the Deed and PURCHASER'S possession of the Property. 23.12 PURCHASER Attorneys' Fees and Costs. PURCHASER acknowledges and agrees that PURCHASER shall be responsible for its own attorneys' fees and all costs, if any, incurred by PURCHASER in connection with the transaction contemplated by this Agreement. 23.13 Operation of Property. From and after the Effective Date: (i) SELLER shall own, operate, manage and maintain the Property in its ordinary course of business consistent with past practices and shall not sell,further pledge,or otherwise transfer or dispose of all or any part of any Property; (ii)SELLER shall maintain in full force and effect property insurance on the Property in amounts currently maintained by SELLER;and(iii)SELLER shall not enter into any new Leases or amend same that would remain in effect beyond Closing without PURCHASER's prior written consent. Additionally, SELLER shall, from and after the Effective Date, deliver to PURCHASER promptly after receipt thereof copies of(i)all written notices to SELLER from tenants, (ii) all written notices to tenants from SELLER, (iii) any notice of violation issued by any governmental authority with respect to SELLER or the Property, (iv) any notice relating to any claim of litigation or threatened litigation with respect to SELLER or the Property,(v)notice of the commencement or threat of any condemnation, eminent domain or similar proceedings with respect to or affecting the Property. 23.14 Force Majeure. Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent and for so long as such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party (Events of Force Maiur_I including but not limited to fire,floods, embargoes,war,acts of war (whether war be declared or not), acts of terrorism, pandemics, insurrections, riots, civil commotions,strikes,lockouts or other labor disturbances,acts of God or acts,omissions or delays in acting by any governmental authority,or the other Party. Events of Force Majeure shall extend the period for the performance of the obligations for a period equal to the period(s)of any such delay(s). All terms contained herein are subject to Force Majeure.PURCHASER shall notify SELLER within 90 days of the onset of the Event of Force Maiure if PURCHASER intends to invoke this Section of the Agreement; otherwise, PURCHASER's rights under this Section shall be deemed waived for that Event of Force Maiure. 23.15 Public Records. SELLER is a public agency subject to Chapter 119, Florida Statutes. The PURCHASER shall comply with Florida's Public Records Law. Specifically, the PURCHASER shall: a. Keep and maintain public records that ordinarily and necessarily would be required by the SELLER in connection with this Agreement; 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 17 of 20 b. Provide the public with access to such public records on the same terms and conditions that the SELLER would provide the records and at a cost that does not exceed that provided in Chapter 119,Fla.Stat.,or as otherwise provided by law; C. Ensure that public records that are exempt or that are confidential and exempt from public record requirements are not disclosed except as authorized by law;and d. Meet all requirements for retaining and providing public records and transfer to the SELLER, at no cost,all public records in possession of the PURCHASER upon termination of the contract and destroy any duplicate public records that are exempt or confidential and exempt.All records stored electronically must be provided to the SELLER in a format that is compatible with the information technology systems of the SELLER. IF PURCHASER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO PURCHASER'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (561)737-3256; 100 East Ocean Avenue, 4th Floor, Boynton Beach, Florida 33435;or SHUTTT@bbfl.us. SELLER shall, upon request, provide guidance to PURCHASER as to the public records keeping and reporting duties that are imposed upon PURCHASER as provided above and shall take all steps reasonably required to assist PURCHASER in not violating them. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective date. PURCHASER: SELLER: BB QOZ,LLC BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Printed Name: Printed Name:Steven B.Grant Title: Title:Chair Date: Date: 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 18 of 20 WITNESS: WITNESS: Printed Name: Printed Name: Approved as to form and legal sufficiency: CRA Attorney The remainder of this page was intentionally left blank. 01603622-8 PURCHASER'S Initials: SELLER'S Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 19 of 20 EXHIBIT"A" LEGAL DESCRIPTION PROPERTY: 7 parcels further detailed below: Parcel 1: Physical Address: 508 E.Boynton Beach Blvd,Boynton Beach,FL Parcel 4: 08434528030010060 Parcel 2: Physical Address: NE 41h St.,Boynton Beach,FL Parcel 4: 08434528030010080 Parcel 3: Physical Address: NE 1s'Ave.,Boynton Beach,FL Parcel 4: 08434528030010100 Parcel 4: Physical Address: 115 N.Federal Hwy.,Boynton Beach,FL Parcel 4: 08434528030060010 Parcel 5: Physical Address: 511 E.Ocean Ave.,Boynton Beach,FL Parcel 4: 08434528030060100 Parcel 6: Physical Address: 515 E.Ocean Ave.,Boynton Beach,FL Parcel 4: 08434528030060111 Parcel 7: Physical Address: 529 E.Ocean Ave.,Boynton Beach,FL Parcel 4: 08434528030060120 01603622-8 PURCHASER'S Initials: SELLER'S Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 20 of 20 EXHIBIT B REVERTER AGREEMENT This REVERTER AGREEMENT is dated as of this day of 2022, by and between the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (the "SELLER") and BB QOZ,LLC(the"PURCHASER"). RECITALS A. The SELLER has conveyed to the PURCHASER that certain real estate described on Exhibit"A"attached hereto(the"Property")pursuant to a Deed of even date herewith between the SELLER and PURCHASER. B. The PURCHASER has agreed to construct the Project on the Property, and other requirements in accordance with the guidelines and criteria set forth on in the Purchase and Development Agreement. C. The Deed shall provide that if the PURCHASER does not commence construction of the Project as set forth in this Agreement,then the Property shall revert to the SELLER. NOW THEREFORE,in consideration of the transfer of the Property to the PURCHASER and other consideration,the receipt and sufficiency of which are acknowledged,the parties agree as follows: 1. PURCHASER agrees at its sole cost and expense to commence the construction of the Project in accordance with the terms of the Purchase and Development Agreement attached hereto by no later than the time period set forth in Section 21.5 of the Purchase and Development Agreement of even date herewith (the"Construction Commencement Date"). 2. In the event Construction Commencement does not commence by the Construction Commencement Date (unless extended pursuant to the terms of the Purchase and Development Agreement),or PURCHASER has not provided adequate proof of a financial closing by Formatted:Highlight such date,the Property shall revert to and thereafter become fee simple real estate owned by the Formatted:Highlight SELLER. Within 30 days of the written request of the SELLER,the PURCHASER will provide a quit claim deed to the Property in form and substance acceptable to the SELLER evidencing the reconveyance of the Property, delivery of which is contingent upon payment by SELLER to PURCHASER of the amounts specified in Section 22.1 of the Purchase and Development Agreement. 3. In the event PURCHASER enters into any construction loan financed with a 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 21 of 20 commercial bank or similar lender intended to fund the construction and development of the Improvements, the SELLER agrees not to unreasonably withhold consent to enter into a Subordination Agreement in form and substance satisfactory to such lender. Upon the Construction Commencement Date, the SELLER agrees to promptly issue a recordable letter acknowledging the release of the reverter rights described herein. This Agreement shall be binding upon the parties hereto and shall be binding upon and inure to the benefit of their successors and assigns. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Florida. This Agreement may only be modified or amended by a written agreement signed by authorized representatives of the parties hereto. WITNESS the following signatures as of the year and date first above written. PURCHASER: SELLER: BB QOZ,LLC BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Printed Name: Printed Name:Steven B.Grant Title: Title:Chair Date: Date: 01603622-8 PURCHASER's Initials: SELLER's Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 22 of 20 EXHIBIT C CONCEPTUAL DESIGN PLANS 01603622-8 PURCHASER'S Initials: SELLER'S Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 23 of 20 SCHEDULE 9.7 FORM OF TENANT ESTOPPEL TENANT ESTOPPEL CERTIFICATE 12022 BB QOZ,LLC 613 NW 3RDAVE.,STE 104 Fort Lauderdale,FL 33311 [LENDER INFO TO BE PROVIDED] [ ] [ ] Re: Lease dated by and between ("Landlord"), and , as tenant (the "Original Lease"), demising [Insert description of leased premises] (the"Premises")at the building known as and located at Florida(the"Property") To whom it may concern: The following statements are made with the knowledge that you and your successors and assigns, prospective PURCHASERS, including without limitation BB QOZ, LLC, a Florida limited liability company ("PURCHASER"), successor owners of the Property and present and future lenders secured by mortgages encumbering the Property or any interest therein may rely on them. The undersigned("Tenant"),as tenant under the Lease(hereafter defined),hereby certifies to you as follows: 1. The Original Lease and all amendments thereto are as follows: (collectively referred to as the "Lease"). The Lease is in full force and effect and constitutes the entire agreement between Landlord and Tenant with respect to the use and occupancy of the Premises and there are no other agreements which are binding upon Landlord in connection with the use and occupancy of the Premises. 2. Tenant has accepted possession of the Premises and all construction obligations of Landlord are complete. 3. The commencement and expiration dates of the term of the Lease are and respectively. There are no options to renew or terminate the lease except for 01603622-8 PURCHASER's Initials: SELLER'S Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 24 of 20 4. The rent commencement date is 5. The current monthly fixed base rent and other regular monthly recurring charges for the Premises are as follows: $ and have been paid through 6. The current monthly additional rent (which includes payments for Tenant's proportionate share of taxes,insurance,operating expenses and any other charges due under the Lease)are as follows:$ ,and have been paid through 7. All insurance required of Tenant under the Lease has been provided by Tenant,and all premiums have been paid. 8. The Guarantor under the Lease is and the guaranty is in full force and effect. 9. Neither Tenant nor any guarantor of Tenant's obligations under the Lease is the subject of any bankruptcy or other voluntary or involuntary proceeding,in or out of court,for the adjustment of debtor/creditor relationships. 10. The amount of the security deposit delivered under the Lease is$ and said security deposit is in the form of cash. 11. Neither Tenant,nor to Tenant's knowledge,Landlord,is in default in the Lease, nor,to Tenant's knowledge,is there now any fact or condition which,with the passage of time or the giving of notice or both, would constitute a default by either party under the Lease and no current defenses or claims exist preventing the payment of rent by Tenant. 12. Tenant has not assigned,transferred or otherwise encumbered its interest under the Lease, or subleased or licensed any portion of the Premises, except as follows: 13. Tenant's address for all notices or communications under the Lease is 14. The person signing this letter on behalf of Tenant is a duly authorized representative of Tenant. 15. This estoppel shall be binding upon Tenant and its principals, and its successors and assigns. 16. Tenant agrees that upon notice from Landlord it will make future payments to PURCHASER. 01603622-8 PURCHASER's Initials: SELLER'S Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 25 of 20 17. Facsimile or electronically transmitted signatures shall be deemed for all purposes to be originals. The undersigned individual hereby certifies that he or she is duly authorized to sign,acknowledge and deliver this estoppel on behalf of Tenant. [INSERT TENANT NAME] a By: Name: Title: 01603622-8 PURCHASER'S Initials: SELLER'S Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 26 of 20 ANNEX 1 To Tenant Estoppel 01603622-8 PURCHASER'S Initials: SELLER'S Initials: 016036224 259374v8 PURCHASE AND DEVELOPMENT AGREEMENT Page 27 of 20 SCHEDULE 10.6 FORM OF BRING-DOWN CERTIFICATE BRING-DOWN CERTIFICATE CERTIFICATE AS TO REPRESENTATIONS,WARRANTIES AND COVENANTS The undersigned [ ] (the "Seller"), hereby certifies to [ ] (the "Purchaser"),its successors and assigns,that all of the representations,warranties and covenants made by Seller in Section[___]of that certain Purchase and Development Agreement having an Effective Date of[ ],between Seller and Purchaser,as same may have been amended or assigned through the date hereof(the"Contract"),are true and correct in all material respects and not in default as of the date hereof. IN WITNESS WHEREOF,Seller has caused this Certificate to be signed and delivered as of the day of [ ] By: Name: Title: 01603622-8 PURCHASER'S Initials: SELLER'S Initials: 016036224 259374v8 TAX INCREMENT REVENUE FUNDING AGREEMENT This Tax Increment Revenue Funding Agreement(hereinafter"Agreement")entered into as of the day of ,2022,by and between: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163,Part III of the Florida Statutes,(hereinafter the"CRA"),with a business address of 100 East Ocean Avenue,4th floor,Boynton Beach,Florida 33435, and BB QOZ, LLC, a Florida limited liability company, with a business address of 613 NW 3'd Ave., Suite 104, Fort Lauderdale, Florida 33311, and its successors or assigns (hereinafter, the "Developer";the Developer and the CRA are collectively referred to herein as the"Parties"). RECITALS WHEREAS,Developer submitted a proposal,a copy of which is attached here to as Exhibit "A," (the "Proposal") in response to the Request for Proposals and Developer Qualifications for the 115 N.Federal Highway Infill Mixed-Use Redevelopment Project("RFP")issued by the CRA on July 23,2021,incorporated herein by reference,which proposal was accepted by the CRA Board on November 30,2021;and WHEREAS, the CRA has determined that the Project, as defined herein, furthers the Boynton Beach Community Redevelopment Plan;and WHEREAS, Developer has the knowledge, ability, skill, and resources to effectuate the construction and development of the Project;and WHEREAS, the CRA has determined that a public-private partnership in which the CRA provides Tax Increment Revenue Funding for the Project will further the goals and objectives of the Boynton Beach Community Redevelopment Plan; NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein,the sufficiency of which both Parties hereby acknowledge,the Parties agree as follows: Section 1. Incorporation. The recitals above and all other information above are hereby incorporated herein as if fully set forth. 01605004-8 1 259073v8 Section 2. Definitions. As used in this Agreement, the following terms shall have the following meanings, which shall apply to words in both the singular and plural forms of such words: 2.1 Area Median Income ("AMI") shall mean the Palm Be@G, C;euRt„ re-, 1"-,4;-- e elep ent ep+1^City of Boynton Beach Area Median Income,as set forth and published each year by the City of Boynton Beach, unless required-as deteF,-^ined by the Lender to mean Palm Beach County Area Median Income,as set forth and published each year by the Department of Housing and Urban Development. If the Lender does not make a determination,the Developer shall use the City of Boynton Beach Area Median Income, provided that; (a) the City publishes AMI levels on a regular(annual)basis,(b)the AMI levels are made readily available to the general public and (c) the City utilizes the same calculation methodology as does the Department of Housing&Urban Development. 2.2 'Base Year"for determining Tax Increment Revenue from the Project shall be the year prior to Commencement of Construction(hereinafter defined). 2.3 "City"means the City of Boynton Beach,Florida. 2.4 "Commencement of Construction" or "Construction Commencement" means the date when both of the following have occurred:PURCHASER has provided adequate proof of a Financial Closing, and PURCHASER has actually begun construction activities, including demolition, site clearing, excavation, utility relocation consistent with theCity Code and all applicable permits, such that construction activities will continue on a consistent basis to complete construction of the Project. actual , nstF, r+„n_aGti„i+es ^Giudm 2.5 "Completion of Construction" shall mean the date for which the Project is substantially complete and the Temporary Certificate of Occupancy has been issued by the appropriate governing authority. 2.6 "Effective Date" shall mean the date the last party to this Agreement executes this Agreement. 2.7 "Financial Closing"The date on which all agreements and loan documents for the financing of the Project have been executed and all required conditions contained in such agreements and loan documents have been satisfied,as determined by Lender and Developer. 01605004-8 2 259073v8 2.8 "Land Use Approvals"shall mean all required site plan,zoning,platting/replatting approvals from the City of Boynton Beach necessary to procure building permits to construct the Project on the Property. 2.9 "Lender"shall mean the lender selected by the Developer to provide a mortgage loan that is secured by all or any part of the Project. 2.10 "Property"means the property subject to this Agreement upon which the Project shall be developed as more particularly described in Exhibit"B;'hereto. 2.11 "Tax Increment Revenue" means the amount deposited in the Redevelopment Trust Fund for the Boynton Beach Community Redevelopment Area pursuant to Florida Statutes, Section 163.387,which is attributable to the Project. Section 3. Developer's Obligations and Covenants. 3.1 Construction of the Project. Developer shall the construct a mixed-use, transit- oriented development containing a mixed-income workforce housing rental apartment building with restaurant,retail space,and office space, including public parking that incorporates public pedestrian connectivity,consistent with the Proposal(hereinafterthe"Project").The Project will include the Required Elements set forth below and be built consistent in all material respects with the Conceptual Site Plan attached hereto as Exhibit"C." The Conceptual Site Plan may be revised by Developer from time to time without the consent of the CRA,provided,however,that any change to the Conceptual Site Plan that would result in a change to any of the Required Elements(hereinafter defined),except an increase in units or nonresidential or residential square footage, shall require the approval of the CRA, which approval shall not be unreasonably withheld,conditioned or delayed. 3.2 Development Timeline. The following events must be completed as set forth herein and evidence of same shall be provided to the CRA upon completion of each event (collectively the "Project Milestones"). At all times after the Effective Date, the CRA shall cooperate with Developer using good faith and due diligence to facilitate and expedite Developer's satisfaction of the Project Milestones, which include, without limitation, the Land Use Approvals. 3.2.1. Submission of application to the City for site plan approval within one hundred eighty(180)days from the Effective Date. Commented[STI]:Need deadlines for site plan approvals, 1 pet-intt application,petmtt issuance(LU approvals) ---- ---- --- --- --- --- 3.2.2 Developer shall diligently and continuously pursue site plan approval and all other required Land Use Approvals until the same are issued. 01605004-8 3 259073v8 3.2.3 Developer shall provide the CRA verifiable documentation necessary to evidence that financing has been obtained for construction of the Project within ten(10) days of receipt of such approval by the Developer and no later than the Closing Date (as defined in the Purchase and Sale Agreement attached hereto as Exhibit "XX" (the "Purchase Agreement")).Developer shall provide the CRA with updates on the process of obtaining financing for the Project,together with reasonable documentation, upon the CRA's request therefor. 3.2.4 Intentionally deleted. 3.2.5 Construction Commencement within two (m�2)years after the Closing Date, as may be extended pursuant to the terms of this Agreement. Notwithstanding anything to the contrary herein, Developer may extend the deadline for Construction Commencement by one (1) period of twelve (12) months, subject to receipt of written approval from the CRA,which approval shall not be unreasonably withheld,conditioned or delayed provided Developer is using good faith efforts and due diligence to achieve Commencement of Construction. 3.2.6 Completion of Construction within thirty-six(36)months of Commencement of Construction;provided,however,Developer shall have the right to extend the deadline for receipt of the temporary certificate of occupancy for one (1) period of twelve (12) months subject to receipt of written approval from the CRA,which approval shall not be unreasonably withheld,condition or delayed by provided Developer is using good faith efforts and due diligence to obtain the temporary certificate of occupancy.After receipt of a temporary certificate of occupancy, Developer shall use good faith efforts and due diligence to obtain a final certificate of occupancy in an expeditious manner. 3.3 Required Project Elements.The Project must include all of the following elements (the"Required Elements"). 3.3.1 A rental apartment building including a minimum of 236 rental units subject to the following requirements. 3.3.1.1 The units shall be rented in accordance with the following ratio (regardless of how many units are constructed) (the "Affordability Requirements"): • Tier One: 3.8%of the total rental units to tenants that earn up to 80%of the AM I; • Tier Two:22.6%of the total rental units to tenants that earn up to 100%of the AMI; • Tier Three: 23.6%of the total rental units to tenants that earn up to 120%of the AMI; 01605004-8 4 259073v8 • Tier Four:the remaining total rental units shall be unrestricted. • Tier One,Tier Two,and Tier Three units shall be the Restricted Units. If necessary,and if consented to by Developer in Developer's sole and absolute discretion,the total rental units and Affordability Requirements may be adjusted as may be required in order to meet the minimum code requirements of the City of Boynton Beach's Workforce Housing Program,provided that at no time shall the sum of Tier One,Tier Two and Tier Three units be less than 50%of the total rental units. • The units shall be built consistent with the Table attached hereto as Exhibit"MI Commented[KR2]:Per March Meeting,add specific provision that the tiers will include a variety of types(so that Developer cannot,for example,use only one-bedroom units 3.3.1.2 On the date of the Financial Closing,the Developer will record a to meet the tiering requirements). Restrictive Covenant containing the Affordability Requirements,which shall remain in effect for a period of 15 years following Completion of Construction (the "Initial Affordability Term"). Notwithstanding the forgoing, 10% of the Restricted Units (in the same tier proportion as set forth in Section 3.3.1.1 hereof) shall remain in effect far an additional 10 years f^"e^^^R� expirationthe lRitial Aff a s +,,, rr in perpetuity. The Restrictive Covenant shall be in a form approved by the CRA and Lender. 3.3.2 A minimum of 16,800 square feet of commercial space (e.g. restaurant, retail and office); 3.3.3 A minimum of 150 public parking spaces which shall remain open to the public in perpetuity,subject to a Lease Agreement to be executed between the Parties,A� substantiallysimilar to the Lease A, eeme t attaG ed hereto r,Exhibit"92 (the"CRA Spaces"), in the form of a lease acceptable to the City of Boynton Beach and the CRA, reflecting a zero dollar lease payment in perpetuity, plus a pro rata share of acceptable operation and maintenance costs.The CRA Spaces shall be in addition to the amount of parking spaces needed for the residential and commercial components of the Project. Although the CRA Spaces are separate from the parking spaces that are designated for the residential and commercial uses, the CRA Spaces shall be included in the calculation of determining the total number of parking spaces required for compliance of the residential and commercial uses with the minimum code requirements of the City of Boynton Beach. Section 4. Public Benefits.Developer shall comply with the following Requirements. 4.1.Job Fairs,and Apprenticeship. Prior to and during the construction of the Project, Developer shall: • Host two(2)job fairs between Commencement of Construction and Completion of Construction,at a venue within the City of Boynton Beach; 01605004-8 5 259073v8 • Use commercially reasonable efforts to participate in job fairs within 15 miles of the City when notified of such job fairs by CareerSource Palm Beach County or such other entity as the CRA may designate from time to time. • Include requirements in all contracts with contractors that the contractors use 4@44commercially reasonable efforts to participate in an apprenticeship program;and • Provide documentation evidencing satisfaction of these requirements upon request by the CRA and as part of the Annual Performance Report. 4.2. Green Building. Developer will achieve a minimum National Green Building Standards(NGBS)Bronze certification for the residential building. Evidence of the NBGS Bronze certification shall be submitted to the CRA within twelve (12) months following Completion of Construction.Developer will analyze the feasibility of using the chilled water services offered by the District Energy Sr -Facility located in the Town Square complexQ 4.3 Green Wall.Developer shall use commercially reasonably efforts to incorporate a green wall into the wall of the parking garage associated with the Project consistent with City code. 4.4 Electric Vehicle Charging Stations.Developer shall install a minimum of two(2) electric vehicle charging stations,which must be Level 2 or higher,in the CRA Spaces,and in addition,Developer shall install conduit to allow the CRA to fund and install additional electric vehicle charging stations in the CRA Spaces. Section 5. Certification Requirements. 5.1 Annual Performance Report. Commencing upon the Effective Date, Developer shall annually provide the CRA with an Annual Performance Report for the Project certifying Developer's compliance with the requirements of this Agreement and the Purchase and Development Agreement and, as applicable upon Completion of Construction, evidencing that Developer has paid all property taxes for the Property for the preceding year.Such report must be submitted to the CRA no later than the last day of April for the preceding year in a form substantially in accordance with the form attached hereto as Exhibit"E."[Note:Exhibit needs to be attached] Further,Developer shall,at any time requested by the CRA,appear before the CRA Board and provide any information requested regarding the Project. 5.2 The following are conditions precedent to the CRA's annual disbursal of Tax Increment Revenue pursuant to this Agreement: 01605004-8 6 259073v8 5.2.1 Developer must have timely provided its Annual Performance Report, providing evidence of compliance with the requirements of this Agreement and evidencing that Developer has paid all property taxes for the preceding year;and 5.2.2 A finding by the CRA Board that the Annual Performance Report submitted by Developer is consistent with the requirements of this Agreement,which finding shall not be unreasonably withheld,conditioned or delayed;and 5.2.3 The CRA has actually received Tax Increment Revenues from the Project on the Property subsequent to the Base Year and the Completion of Construction;and 5.2.4 Developer is not in material default beyond any applicable notice and cure period under any terms or provisions of this Agreement. Developer shall not be entitled to any Tax Increment Revenue paymentsfor such calendar year if the Developer has failed to meet its obligations under this Agreement or is otherwise in material default beyond any applicable notice and cure period under the terms of this Agreement and has failed to sufficiently cure the default as provided for herein after appropriate notice of such default has been given.There is no obligation by the CRA to disburse the Tax Increment Revenue during any period of default by the Developer, provided that,once a default is cured, Developer shall receive its Tax Increment Revenue for the remainder of the TIR Term,provided Developer is not in default under this Agreement. Section 6. Tax Increment Revenue. 6.1 Formula and Term. 6.1.1 The CRA hereby agrees to pledge and assign to Developer pursuant to the terms of this Agreement,an annual amount which equals oAQ 4u44F- ninety five percent( 50%)of the Tax Increment Revenue,for a fifteen (15)year term r not to exceed a total of five million dollars($5,000,000.00),w" "ever Gem esf;rq7, ',Commented tsr31 ;5'ull---<7--z -�---r--,. commencing on the last day of the yearthat all of the following conditions are met ("TIR Term"): A. The Project has been completed as evidenced by the last Certificate of Occupancy or its equivalent having been issued; B. All elements of the Project have been placed on the Tax Roll; C. The CRA has received Tax Increment Revenue from the Project; D. The Annual Performance Report is received and found to be sufficient by the CRA,which finding shall not be unreasonably withheld, conditioned or delayed;and 01605004-8 7 259073v8 E. Developer is not in default under this Agreement. Provided the above conditions precedent are satisfied,the CRA shall disburse the Tax Increment Revenue to the Developer as soon as practicable after the CRA receives the Tax Increment Revenue. 6.2 No Prior Pledge of Tax Increment Revenues. The CRA warrants and represents that the Tax Increment Revenue are not the subject of any prior pledge by the CRA and agrees that such revenues shall not be assigned, pledged, hypothecated or secured by the CRA for the period covered by term of this Agreement. 6.3 Form of Payment. Payment of the Tax Increment Revenue shall be in the form of a CRA check made payable to the Developer. No payment made under this Agreement shall be conclusive evidence of the performance of this Agreement by Developer,either wholly or in part, and no payment shall be construed to relieve Developer of obligations under this Agreement or to be an acceptance of faulty or incomplete rendition of Developer's obligations under this Agreement. Section 7. Notice and Contact. Any notice or other document required or allowed to be given pursuant to this Agreement shall be in writing and shall be delivered personally, or by recognized overnight courier or sent by certified mail,postage prepaid,return receipt requested. The use of electronic communication is not considered as providing proper notice pursuant to this Agreement. If to CRA,such notice shall be addressed to: Boynton Beach Community Redevelopment Agency Attention: Thuy Shutt,Executive Director 100 E.Ocean Avenue,4th Floor Boynton Beach,FL 33435 With a copy to: Tara W.Duhy,Esq. Lewis,Longman&Walker,P.A. 360 S.Rosemary Ave Suite 1100 West Palm Beach,Florida 33401 If to Developer,such notice shall be addressed to: BB QOZ,LLC 01605004-8 8 259073v8 Attention:Jeff Burns&Nicholas Rojo 613 NW 3rd Ave.,Ste.104 Fort Lauderdale, Florida 33311 With a copy to: Lance M.Aker,Esq. Kapp Morrison LLP 7900 Glades Road,Ste 550 Boca Raton,Florida 33434 Section 8. Default. The failure of Developer to comply with the provisions set forth in this Agreement shall constitute a default and breach of this Agreement. If Developer fails to cure the default within thirty (30) days of notice from the CRA, the CRA may withhold payment of Tax Increment Revenue to Developer due for such calendar year; provided, however, if such default takes longerthan thirty(30)days to cure,such cure period shall be extended until the Developer cures such default provided that the Developer is using good faith efforts to effectuate such cure in a diligent manner. A default under this Agreement shall not terminate this Agreement, but payments of the Tax Increment Revenue to Developer shall not re-commence until such default is cured. Section 9. Termination. This Agreement shall automatically terminate: 1) upon the last disbursement of Tax Increment Revenue due to Developer pursuant to the terms of this Agreement;2)upon the expiration of the 15-yearTIR Term,or 3)if Developerfails to Commence Construction of the Project as required herein. Section 10. Miscellaneous Provisions. 10.1 Waiver. The CRA shall not be responsible for any property damages or personal injury sustained by Developer from any cause whatsoever related to the development of the Project,whether such damage or injury occurs before, during, or after the construction of the Project or the term of this Agreement, except if caused by the gross negligence or willful misconduct of the CRA. Except as set forth in the foregoing sentence, Developer hereby forever waives,discharges,and releases the CRA, its agents,and its employees,to the fullest extent the law allows,from any liability for any damage or injury sustained by Developer. 10.2 Indemnification. Developer shall indemnify,save,and hold harmless the CRA, its agents,and its employees from any liability,claim,demand,suit, loss,cost, expense or damage which may be asserted, claimed, or recovered against or from the CRA, its agents, or its employees, by reason of any property or other damages or personal injury, including death, sustained by any person whomsoever,which damage is incidental to,occurs as a result of,arises out of, or is otherwise related to the negligent or wrongful conduct or the faulty equipment (including equipment installation and removal)of Developer. Nothing in this Agreement shall be 01605004-8 9 259073v8 deemed to affect the rights, privileges, and sovereign immunities of the CRA as set forth in Section 768.28, Florida Statutes.This paragraph shall not be construed to require Developer to indemnify the CRA for its own negligence,or intentional acts of the CRA,its agents or employees. Each party assumes the risk of personal injury and property damage attributable to the acts or omissions of that party and its officers,employees and agents. 10.3 Assignment. This Agreement may only be assigned in its entirety. Prior to i Commented[ST4] I I r,\,7LI t ii i.c�d I3 <_rd i Completion of Construction,this Agreement may only be assigned by Developer to an entity that j 1 Board direction from April 2021(see minutes). Board wants is managed by Developer's key principals,Jeff Burns and Nicholas Rojo, or Lender pursuant to 1 to be able to review to assess if developer still needs TIF Developer's loan documents with Lender,and provided that any assignee hereto shall specifically reimbursement prior to future assignments after project completion. assume all of the obligations of the Developer under this Agreement. After Completion of `- ------------------------------------------------------------------------------------------------ Construction,provided Developer is not in default under this Agreement,this Agreement may be assigned by Developer to any third party that purchases the Project without the requirement of consent, provided that the Developer delivers written notice to the CRA at least thirty(30)days prior to the assignment and the assignee shall specifically assume all of the obligations of the Developer under this Agreement. 10.4 Successors and Assigns.The CRA and Developer each binds itself and its partners, successors, executors, administrators and assigns to the other party and to the partners, successors,executors,administrators and assigns of such other party,in respect to all covenants of this Agreement.Nothing herein shall be construed as creating any personal liability on the part of any officer or agent of the CRA or the Developer,nor shall it be construed as giving any rights or benefits hereunder to anyone other than the CRA and the Developer. 10.5 No Discrimination. Developer shall not discriminate against any person on the basis of race,color,religion,ancestry,national origin,age,sex,marital status,sexual orientation or disability for any reason in its hiring or contracting practices associated with this Agreement. 10.6 No Partnership,Etc. Developer agrees nothing contained in this Agreement shall be deemed or construed as creating a partnership,joint venture,or employee relationship. It is specifically understood that Developer is an independent contractor and that no employer/employee or principal/agent is or shall be created nor shall exist by reason of this Agreement or the performance under this Agreement. 10.7 Public Records: The CRA is a public agency subject to Chapter 119, Florida Statutes. Developer shall comply with Florida's Public Records Law. Specifically,the Developer shall: a. Keep and maintain public records required by the CRA to perform the public services provided for in this Agreement; b. Upon request from the CRA's custodian of public records,provide the CRA with a copy of the requested records or allow the records to be inspected or 01605004-8 10 259073v8 copied within a reasonable time at a cost that does not exceed the cost provided in this chapter or as otherwise provided by law. C. Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and following completion of the contract if Developer does not transfer the records to the CRA. d. Upon completion of the contract,transfer,at no cost,to the CRA all public records in possession of Developer or keep and maintain public records required by the CRA to perform the service.If Developer transfers all public records to the public agency upon completion of the contract, Developer shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements.If Developer keeps and maintains public records upon completion of the contract, Developer shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the CRA,upon request from the CRA's custodian of public records, in a format that is compatible with the information technology systems of the CRA. IF DEVELOPER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO DEVELOPER'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (561)737-3256; 100 East Ocean Avenue, 4th Floor, Boynton Beach, Florida 33435;or sHUTTT bbfLus. 10.8 Entire Agreement. This Agreement represents the entire and sole agreement and understanding between the Parties concerning the subject matter expressed herein. No terms herein may be altered,except in writing and then only if signed by all the parties hereto. All prior and contemporaneous agreements, understandings, communications, conditions or representations,of any kind or nature,oral or written,concerning the subject matter expressed herein,are merged into this Agreement and the terms of this Agreement supersede all such other agreements. No extraneous information may be used to alter the terms of this Agreement. 10.9 Counterparts and Transmission. To facilitate execution,this Agreement may be executed in as many counterparts as may be convenient or required, each of which shall be deemed an original,but all of which together shall constitute one and the same instrument. The executed signature page(s)from each original may be joined together and attached to one such original and it shall constitute one and the same instrument. In addition,said counterparts may be transmitted electronically(i.e.,via facsimile or.pdf format document sent via electronic mail), which transmitted document shall be deemed an original document for all purposes hereunder. 10.10 Agreement Deemed to be Drafted Jointly. This Agreement shall be deemed to be drafted jointly and shall not be construed more or less favorably towards any of the parties by virtue of the fact that one party or its attorney drafted all or any part thereof. 01601004-8 11 259073v8 10.11 Governing Law, Jurisdiction, and Venue. The terms and provisions of this Agreement shall be governed by,and construed and enforced in accordance with,the laws of the State of Florida and the United States of America, without regard to conflict of law principles. Venue and jurisdiction shall be Palm Beach County,Florida,for all purposes,to which the Parties expressly agree and submit. 10.12 Independent Advice. The Parties declare that the terms of this Agreement have been read and are fully understood. The Parties understandthat this is a binding legal document, and each Party is advised to seek independent legal advice in connection with the matters referenced herein. 10.13 Severability. If any part of this Agreement is found invalid or unenforceable by any court,such invalidity or unenforceability shall not affect the other parts of the Agreement if the rights and obligations of the Parties contained herein are not materially prejudiced and if the intentions of the Parties can continue to be achieved. To that end,this Agreement is declared severable. 10.14 Voluntary Waiver of Provisions. The CRA may,in its sole and absolute discretion, waive any requirement of Developer contained in this Agreement. 10.15 Compliance with Laws. In its performance under this Agreement,Developer shall comply with all applicable federal and state laws and regulations and all applicable Palm Beach County,City of Boynton Beach,and CRA ordinances and regulations enacted as of the Effective Date. 10.16 Survival. The provisions of this Agreement regarding public records, indemnity, parking,and waiver shall survive the expiration or termination of this Agreement and remain in full force and effect. 10.17 Subordination. The CRA shall administratively amend this Agreement (without requirement of CRA board approval)as may be reasonably required by the Lender,provided that such amendment pertains solely to non-material terms of this Agreement and is for the purpose of complying with Lender requirements in order to effectuate Financial Closing. If any required amendment by the Lender would have a material effect on the terms and conditions set forth in this Agreement,then such amendment shall require CRA board approval,not to be unreasonably withheld,conditioned or delayed. 10.18 Force Majeure.Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent and for so long as such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, including but not limited to fire,floods,embargoes,war, acts of war(whether war be declared or not), acts of terrorism, pandemics, insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances,acts of God or acts,omissions or delays in acting by any governmental authority, or the other Party. Events of Force Majeure shall extend the period for the 01605004-8 12 259073v8 performance of the obligations for a period equal to the period(s)of any such delay(s). All terms contained herein shall be subject to Force Majeure. 10.19 Computation of Time — Any referenced herein to time periods which are not measured in Business Days and that are less than six(6) days shall include Saturdays,Sundays, and legal holidays in the computation thereof.Any period provided for in this Agreement which ends on a Saturday,Sunday,or legal holiday shall extent to 5 p.m.on the next full Business Day. Time is of the essence in the performance of all obligations under this Agreement.Time periods commencing with the Effective Date shall not include the Effective Date in the computation thereof. For purposes of this Agreement, Business Days shall mean Monday through Friday but shall exclude state and federal holidays. 01605004-8 13 259073v8 IN WITNESS OF THE FOREGOING,the parties have set their hands and seals the day and year first above written. Signature Blocks and Exhibits to be inserted 01605004-8 14 259073v8 PARKING LEASE AGREEMENT THIS PARKING LEASE AGREEMENT(this"Lease"),is made and entered into this day of , 2022, by and between BB QOZ, LLC, a Florida limited liability company, ("Landlord'), and The Boynton Beach Community Redevelopment Agency,JBBCRAt a public agency created pursuant to Chapter 163,Part III of the Florida Statutes("Tenant"). WITNESSETH: WHEREAS the Landlord has a contract to purchase property generally located at: (i) 508 E. Commented[NLI]:City Comments: Boynton Beach Boulevard, Boynton Beach, Florida 33435; (ii) NE 4t1i Street, Boynton Beach, Florida 1.whereas Clauses: 33435;(iii)NE I"Avenue,Boynton Beach,Florida 33435;(iv)115 N.Federal Highway,Boynton Beach, a.There should be a clear distinction(definition) Florida 33435; (v) 511 E. Ocean Avenue, Boynton Beach, Florida 33435; (vi) 515 E. Ocean Avenue, between CRA required public parking and the parking Boynton Beach,Florida 33435;and(vii)529 E.Ocean Avenue,Boynton Beach,Florida 33435,all of which required by code for the commercial uses. are located within the corporate limits of the City of Boynton Beach,as more particularly described by the 2.Create a definitions section and list all definitions in oneplace for ease of reading and understanding. There are legal description attached hereto as Exhibit A(collectively the"Property");and multiple definitions that seem similar and confusing. For instance,Parking should be broken into(Public Parking, WHEREAS,the Landlord intends to construct a mixed-use project consisting of a mixed-income Commercial Parking,and Residential Parking). This will workforce rental development on the Property to be comprised of a minimum of 236 rental units, a make it less confusing as to what parking is in question in minimum of 16,800 square feet of commercial space(e.g.restaurant,retail and office space),and a parking any given section. garage consisting of approximately X43-573 parking spaces,with a minimum 150 dedicated public parking spaces(the"Project")above what is required by the City Code for commercial and;and, Commented[TT2]:573 parking spaces in RFP. 150 ']IERE�%S,Tenanthas Jl)m ided Jl)operty,v dtied at approximately"5 51 n)ill ion in ey harlle1'0) dedicated public parking spaces above the required for mixed used development -.__ ._ - thc dcdlrated palkin� t,nd �- -, Formatted:Font:Bold WHEREAS,the Landlord and the Tenant,have entered into a Tax Increment Revenue Funding Commented[NL3]:General comment:because the Agreement(ethe)YA 1`eements i wherein the Tenant is providing certain economic development incentives parking is being provided in exchange for land,all to develop the Project;and termination provisions at Landlord's option mustbe deleted. [Note to be disew",Od w4h eoLlnsel� upon the sLinset of the GRA, thLi Lease will 04heF R00440-ube WHEREAS,the Tenant recognizes the positive impact that the Project will bring to the City of Boynton Beach including the provision of additional parking facilities;and WHEREAS,the Landlord and Tenant desire to enter this Lease in order for the Parking Garage to not only serve the Project but to provide 150 parking spaces bey0fd kGhzt a 1N!Girvd by�the tpItlLEriate ('L)y g 1111IL-muhcrity jo) tlse by i-a the general public lo) of the dm,ntw,n fns 0+l- l $K+iL&Fr-ti-ej4 in fw-lh rauce of I'cumit s 2016 t;onni tlti v Redev elcltnl�°nt Plan,as set forth below;and WHEREAS,the Tenant,as the -3I3C RA has determined and hereby finds that this Lease promotes economic development in the C R. _r I v_and,as such,is in the best interests of the �"e it(313C'(t_,and d v i-;rlak€ I l!i,rthe)s the 2016];o nton Beach Cenlmimity Reden elLpnlent Plan. 01619970 #8285004 v27 6/16/2020 12:52 PM DOCPROPERTY"DocID" 25942lv3 NOW, THEREFORE, in consideration of the promises and mutual agreements set forth herein, the sufficient of which is acknowledged by both parties, the Landlord and Tenant covenant and agree as follows: 1. Use. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Commented[KR4]:Given the large number of definitions following described parking spaces (the"Parking Spaces') to be utilized exclusively by Tenant for the and their dispersal throughout the document,it would be Permitted Use(as defined in Section 12 below): much cleaner to have a definitions section here. The one hundred fifty(150)parking spaces shall be located within the parking structure to be constructed to be constructed at NE 4"'Street,Bovnton Beach,Florida 33435 and NE 1" Avenue, Bovnton Beach, Florida 33435 (the "Parking Garage")P„rkin�- k4e-o.�,. --m�.i- ter. - in the locations designated as"Parking Spaces"on Exhibit B attached hereto and made a part hereof,which locations may be changed by Landlord from time to time,but may not be changed more than three times without the prior written consent of the Tenant. Landlord shall provide notice to Tenant at least 14 days prior to the Parking Spaces being relocated, and Landlord shall bear the cost, if any, of relocating the Parking Spaces, including any costs associated with moving parking meters, electric vehicle chargers, or other similar items. Landlord shall not move Tenant inanymanner that will reduceTenants ability to use parking meters, provide electric vehicle chargers, or other similar items. rtAt no time shall the total Parking Spaces be less than one hundred fifty (150),-.,and Landlord shall make every effort to keep the Parking Spaces generally contiguous,and in no case shall the Parking Spaces be located such that less than 50 are located together 'n the'. struelafe_le,be-co _��:�_�ns"trtm,ete -atNIP �,- Po ,-:a and 1s i4-4.-....zt., Q--- Q__ t, _�J,, z z b "Pj.= Z". At no time shall the Parking Spaces be located on anv level higher than level 3 of the Parking Garage. Tenant and the general public shall be entitled to use the Parking Spaces 24 hours a day, 7 days a week, every day of the year (the "Business Hours").Tenant and the general public shall also have the right to utilize on a non-exclusive basis, together with any other users of the Parking Garage, restroom facilities(if anv)of the Parking Garage,as well as the common areas located only on the floors of the Parking Garage where the Parking Spaces are Ilocated� for their intended Commented[KR5]:Will there be storage space in the purposes consistent with the Permitted Use so long as such use shall not unreasonably garage for equipment used as part of the operation of the interfere with the use of such areas by Landlord or other users of the Parking Garage.The parking meters and/or for security? use by Tenant and the general public of the Parking Spaces shall be subject to the terms and conditions of this Lease. 2. Tenn;Construction of Parking Garage. (a) The term of this Lease(the"Term")shall be twenty-five(4} 25)years, with three(3)automatic 25-year extensions unless earlier terminated by Tenant pursuant to written notice Landlord at least 4 weeks prior to termination.-The Term shallcommence on the date that Landlord and Tenant mutuallyaagree in writing that Tenant (and the public) may begin Occupying the Parking Spaces,which date shall not occur before construction of the Parking Garage has been substantially completed as defined below f the Parking Garage the"Lease Commencement Date" and shall end4re on the date that is ninety-nine (99) years therefrom, subject to extension as set forth in subsection(b),below. Subject to the extensions of time authorized herein and any Force Majeure event(s), the Lease Commencement Date shall occur on or before thirty-six (36) months from the Construction Commencement Date(as defined below). 01619970? 2 259421v3 (b) The Parking Garage shall be constructed by the Landlord in accordance with the permitted set of pians for which a building permit is issued by the appropriate governing authority,which pians shall be based upon the Parking Garage Floor Pian attached hereto as Exhibit B and the Base Building Improvements outlined on Exhibit C attached hereto. In the event of any conflict between this Lease (including Exhibit B and Exhibit C)and the permitted set of pians,the permitted set of pians shall govern and control.Landlord shall provide notice to Tenant of anv significant chances to the Parking Garage Floor Plan or Base Building Improvements from what is depicted in Exhibits B and C. (c) The term"substantially completed"shall mean and refer to the date a temporary certificate of occupancy(or its equivalent)has been issued by the appropriate governing authority for the Parking Garage. (d) The"Effective Date"of this Lease is the date after it has been fully executed by Landlord and Tenant.Subject to the extensions of time authorized herein and any Force Majeure event(s), the"Construction Commencement Date"is the date that a notice of commencement has been filed with the appropriate governing authority allowing work to begin pursuant to a building permit(s)to construct the Commented[NL6]:Discuss:CRA/City may terminate at Parking Garage.Notwithstanding the foregoing,in the event the Parking Garage Chas not been substantially their option and developer shall repay$5.51 million.Or completed-within thirty-six(36)months of the Construction Commencement Date,subject to extension due delete this section entirely. to Force Majeure(as defined below) or delays caused by Tenant, then this Lease shall teRgikiate and be Commented[NL7]:City comment— a.Can this section title be change to Operating ' _liabilities _ _affi and _lhe _ Expense so it is less confusing? all Obligations --- --- -- b.There needs to be limitations on management fees,either a cap or clearly defined process on how 3. Base Rent. Commencing on the Lease Commencement Date 4he"Bent established and agreed upon. )—and continuing during the Term,Tenant shall pay to Landlord base rent("Base Rent"}-a-,,,.�,-4*Ir c.Please clarify what insurance is included in the all the p_)O!_tt_1_t_01' 50.00_ i - -as sil-alledCAM&OPEX costs? Why would CRA need additional liability insurance if insurance is covered under CAM/OPEX costs d.Clarify what is meant by security as part of CAM/OPEX? Is that person patrolling onsite or cameras or both?The CRA will want to have access to cameras in the garage. If not CRA will want their wd ham ag� tpl ty lea+= Wit+ i Lf$ . -FH k fsel b +N own security cameras. a a if any nt due fir-am Tenant shall> F-a - thirty(4m day,, e.Reword"tenantsholl pay one hundred percent r-�.�y'.�ry �.�t�.an:T,� �-a� after the Elue 4therate (100%)of the costs and expenses solely and directly gate, _ related to the parking provided to parking spaces, including,but not limited to,parking meters or - systems,signage and safety monitoring". %411 iennbuFse Landloi:d fOF all inSiiffieient funds,bank,oF Fetumed eheek,fees,plus an adrniniHsivp, 11�,P, c� Five l i a a a� 961IRFS, nrr1 1r` , l k +fir 4'Li+ Commented[NL8]:City comment-Section 4 identifies that the Tenant will be required to pay as"Additional � L¢�` �t "lltkTt Rent"Discussions with the Landlord are warranted to more clearly define what exactly constitute 4. Additional Rent. Unless otherwise expressly provided,all monetary obligations of Tenant management fees(should not include salary,benefits to Landlord under this Lease,of any type or nature,other than Base Rent,shall be denominated as additional or bonuses paid to officers or employees of the rent and include applicable sales tax(unless exempt)("Additional Rent"). In addition to Base Rent,as set Landlord)and what constitute administrative and forth in Section 3,above,commencing in the 20th vear of this Lease.Tenant shall be obligated to pay,as professional costs. These terms are too broad and Additional Rent, Tenant's Percentage Share(as defined in Section 5,below)of Operating Expenses (as could be used in a variety of ways by the Landlord to hereinafter defined),plus applicable sales tax (unless exempt), in an amount not to exceed fifty dollars support operations unrelated to the maintenance and ($50.00) per space per year, which amount shall be reduced in proportion to any days during which the operation of the parking garage. Parking Spaces may not be used by Tenant for reasons not caused by Tenant.For the purposes of this Lease, "Operating Expenses"shall mean all reasonable actual costs and expenses solely and directly attributed to Formatted:Highlight and incurred by Landlord in owning,maintaining, insuring and repairing the Parking Garage,including, without ]imitation, all common areas thereof after the Lease Commencement Date, which costs and Commented[KR9]:Landlord should guarantee it will Commented insurance on parking garage. 01619970-2 3 259421v3 expenses shall include,but shall not be limited to,security,parking systems,cleaning,utilities,maintenance and repairs of all elements of the Parking Garage, pest control, fire safety systems, all insurance costs incurred by Landlord with respect to insurance policies maintained by Landlord with respect to the Parking Garage, management fees, license fees, maintenance, repair and operational supplies, the costs of fabricating,installing and maintaining signage,landscaping,administrative and professional costs incurred by Landlord in connection with its ownership of the Parking Garage, permitted capital expenditures, industry standard repair and replacement reserves in connection with any of the foregoing items and ad valorem and non-ad valorem real estate taxes,assessments and fees attributable to or otherwise applicable to the Parking Garage. Operating Expenses do not include salary, benefits, or bonuses of Landlord's employees or officers:or other expenses not directly related to the operation of the Parking Garage.In the event any surcharge or regulatory fee is at any time imposed by any governmental authority for parking spaces within the Parking Garage,Tenant shall pay Tenant's Percentage Share(as defined below)of such surcharge or regulatory fee to Landlord as Additional Rent, payable as set forth in this Section 4. Notwithstanding the foregoing, Tenant shall pay one hundred percent(100%)of the costs and expenses solely and directly related to the parking provided to Parking Spaces,including,but not limited to,parking meters or system,signage and safety monitoring. 5. Pavment of Additional Rent: Tenant's Percentage Share. Additional Rent(together with, — Commented[NL10]:City comments: applicable sales tax unless exempt) shall be due and payable Payment shall be made R ��,��on a ni t tl iLbasi_s on or_before_the fii_st_f 1"Aday_of each calendar month throILL±Lowthe duration of the Term- Should the Tenant dispute the actual Operating without notice or-,demand.:.,.rr r=d e d etrand made pavable to Landlord at the address provided in Expenses,the Tenant still has to pay the Additional Section E-_whichan__ay Chang e_from_time to time.at the sianle tirae,pittee,and Jn the sianle n1anner as Basic Rent until the dispute is resolved.However,the lease Re4.If anv payment due from Tenant shall remain overdue thirtv(30)dans after the due date,the payment does not provide a method of dispute resolution and it due plus administrative charges shall bear interest at the rate of ten percent(10%)per annum. If an check heck should specifically identify how the dispute is to be given to Landlord for any payment is dishonored for any reason whatsoever not attributable to Landlord, resolved otherwise the dispute can continue in addition to all other remedies available to Landlord,upon demand,Tenant will reimburse Landlord for indefinitely to the detriment of the Tenant. all insufficient funds, bank, or returned check fees, phis an administrative fee of Five Hundred Dollars ($500.00). The term"Rent'when used in this Lease shall include Base Rent and all forms of Additional The percentage share of operating should beset upon final approval of site plan of provided parking. Rent. For the purposes of this Lease, Tenant's Percentage Share shall be deemed to be a fraction, the numerator of which is the number of Parking Spaces(150 parking spaces),and the denominator of which shall be the total number of parking spaces within the Parking Garage(estimated to be -573_-parking spaces)Landlord anticipates that Tenant's Percentage Share shall be approximately X26.17%,as may be adjusted based on the total number of parking spaces within the Parking Garage pursuant to the building permit for the Parking Garage.At least cry fifteen(15)days prior to the Tenant's payment of the Additional Rent,Landlord shall reasonably estimate the Operating Expenses and provide the Tenant with notice of Tenant's estimated Percentage Share and,after each year of the Term,Landlord shall provide Tenant with a reasonably detailed statement of the actual Operating Expenses for the prior year and Tenant's actual Percentage Share. An adjustment shall be made between Landlord and Tenant with payment to or repayment by Landlord,as the case may require,to the end that the Landlord shall receive the entire amount actually owed by Tenant for Tenant's Percentage Share of the Operating Expenses for the prior year.Tenant shall receive a credit for any overpayments for the year on the next payment of the Additional Rent.Any payment adjustment owed by Tenant to Landlord will be due with the next payment of the Additional Rent. Tenant waives and releases any and all objections or claims relating to the actual Operating Expenses for any calendar year unless,within five(5)days after Landlord provides Tenant with the notice of the actual Operating Expenses,Tenant provides Landlord notice that it disputes the actual Operating Expenses. If Tenant disputes the actual Operating Expenses,Tenant shall continue to pay the Additional Rent in question to Landlord in the amount provided in the Operating Expenses(if a reoccurring expense)pending resolution of the dispute. 6. Notice. Any notice under the terms of this Lease shall be in writing and shall be deemed to be duly given only if delivered personally or mailed by registered mail in a postage-paid envelope or via 01619970? 4 259421v3 express courier or other nationally recognized overnight delivery service and sent to the address(es)as set forth below: If to Landlord: BB QOZ,LLC c/o Affiliated Development 613 NW 3"Ave.,#104 Ft.Lauderdale,Florida 33311 Attention:Jeffrey Burns With a copy to: Kapp Morrison LLP 7900 Glades Rd., Suite 550 Boca Raton,Florida 33435 Attention:Lance Aker If to Tenant: Boynton Beach Community Redevelopment Agency Attn: CRA Director [Address for notice purposes] Boynton Beach,Florida 33460 With a copy to: City of Boynton Beach,Florida Attn: City Manager [Address for notice purposes] Boynton Beach,Florida 33460 The address of either party may be changed upon giving at least fifteen(15)days'advance written notice of that change to the other party. 7. Landlord Rights. Landlord shall have the right to block off any or all of the Parking Garage,including the Parking Spaces,for purposes of repair or maintenance of €the Parking Spaces. At no time will Landlord block of any Parking Spaces for more than ten(10)days without the prior written consent of Tenant.Except emergency circumstances,Landlord shall use commerciallyasonable Onc,--s to-provide Tenant with not less than three (3)days' advance notice of the foregoing if Tenant's or the general public's access to the Parking Spaces will be prevented. Landlord shall have the unrestricted, exclusive right to utilize all designated parking spaces located within the Parking Garage other than the Parking Spaces ("Landlord's Parking Areas'). Tenant shall have no right to park within or utilize any portion of Landlord's Parking Areas.Landlord or its agents shall have the right to immediately remove,or cause to be removed,any car or vehicle of Tenant that may be parked in Landlord's Parking Areas,without any liability and without any advance notice to Tenant.Notwithstanding anything to the contrary set forth herein, Tenant hereby acknowledges and agrees that Landlord and its agents, employees, contractors, tenants,and licensees(collectively,the"Landlord Parties"), shall retain and have the unrestricted right to reasonably utilize those portions of the Parking Garage located around,adjacent to and surrounding the Parking Spaces, including without limitation,drive isles, ramping,pedestrian and handicap accessibility areas,back of house areas,stairwells,elevators and all other areas outside of the individual parking stalls for the Parking Spaces(collectively,the"Access Areas")for the purpose of vehicular and pedestrian ingress and egress to and from Landlord's Parking Areas so long as such use does not prevent access to the Parking Spaces. The Access Areas shall not include any area of the Parking Spaces. Tenant acknowledges and agrees that the foregoing right of the Landlord and Landlord Parties to reasonably utilize the Access Areas shall be irrevocable and remain in full force and effect throughout the duration of the Term(as the same may be extended)and Tenant shall have no right to claim constructive eviction or any other legal feu+edy-, 01619970? 5 259421v3 or otliei:,Aise offset or abate oa„F by virtue of the Landlord's reasonable utilization of the Access Areas,notwithstanding the fact that such Access Areas may be located in close proximity to the Parking Spaces. Except as provided herein,Landlord and Landlord Parties shall have no right to park within the Parking Spaces or otherwise use the Parking Spaces unless payment of the parking fees are made at the same rate as the general public utilizing the Tenant's Parking Spaces. Commented[KR11]:Discuss—if this is free,not appropriate for landlord to use in ordinary course of landlord 8. Landlord Covenants and Obli atg ions. Landlord covenants that: (a)prior to the Lease business. Commencement Date, it will have fee title in the land of which the Project and Parking Garage will be Commented[NL12]:City comment-Section 8 substantially completed;and(b)upon performing all of its obligations hereunder,Tenant and general public identifies the Landlord's obligations.Generally,the shall have access to the Parking Spaces and Access Areas lease requires the Landlord to maintain the garage in a "manner comparable to other similar parking ..9 for the Term(including any extension thereof)of(this Lease,subject,nevertheless,to the garages in Palm Beach County,Florida.The standard is terms and conditions of this Lease. nebulous at best and should be more clearly defined. Except as specifically required herein of the Tenant with regards to the Parking Spaces,Landlord Commented[NL13]:City comment-Section 8 also shall operate, manage,equip, light,repair and maintain the Parking Garage,Parking Spaces and Access provides that if the Tenant notifies the Landlord that Areas and all facilities and fixtures,including without limitation roof,walls,ramps,electrical installations, repairs(if caused by the Tenant) are required the elevators, fire and related alarms, lighting, landscaping, and doors in working condition and repair Landlord will make the repairs and charge the Tenant. necessary for their intended purposes in a manner comparable to other similar parking garages in Palm The Lease does not provided for a time certain when Beach County,Florida,the cost of which maintenance,repairs and replacements shall be included in the the Landlord will in fact make the repairs the lease Operating Expenses.The foregoing shall also include the Landlord providing janitorial services,waste and should have a time certain. recycling removal,and pest control services throughout the Parking Garage,which service costs shall be included in the Operating Expenses.If a repair is needed within the Parking Garage,Tenant shall notify the Commented[NL14]:City comment:Section 8 also Landlord in writing of the need for the repair.If Landlord is required to snake repairs proximately caused includes language that the Tenant will not install any by the Tenant or Tenant's agents, employees, contractors, licensees or invitees, then Landlord shall equipment which will exceed or overload the capacity complete such repairs and the cost of such repairs shall be borne by Tenant.Tenant shall pay Landlord for of any Landlord utility facilities.No mention of electric the actual,reasonable,and verifiable cost of such repairs within thirty(30)days of receipt of Landlord's charging stations which most certainly should be notification of the amount due,which written notice of the amount due shall be accompanied by reasonably considered. supporting invoices. Installation of charging stations to be at Tenant cost. Landlord may, in its sole and absolute discretion,restrict the size, location,nature or use of the Access Areas as those Access Areas exist at the Lease Commencement Date. Commented[NL15]:Landlord to provide prior notice of epair and cost estimate. Landlord shall be responsible for paying all utilities at the Parking Garage as of the Lease �`----------------------------- Commencement Date including without limitation water,sewer,stormwater,gas,solid waste and electricity for the Parking Garage,to the extent such utilities serve the Parking Garage,with Tenant paying to Landlord Tenant's Percentage Share of the utilities as Additional Rentl when due. Tenant shall be responsible for — Commented[KR16]:For discussion. paying all utilities exclusively necessary or separately metered for the Parking Spaces and management of the same(e.g.,Tenant shall be responsible to install and pay for any electrical charges for parking meters it installs for the Parking Spaces).Tenant agrees that it shall not install any equipment which will exceed or overload the capacity of any Landlord utility facilities and that if any equipment installed by Tenant shall require additional utility facilities,the same shall be installed at Tenant's expense in accordance with plans and specifications to be approved in writing by Landlord in its sole and absolute discretion. 4.l 0. Landlord's Liability.All Tenant's personal property placed or moved in the Parking Garage shall be at the Tenant's risk or the owner's risk thereof. Landlord shall not be liable for any damage to Tenant's personal property,or any other person's personal property,including,but not limited to,lost or stolen items,occurring in,on or at the Parking Garage,including the Parking Spaces,or any part thereof, except to the extent caused by the Landlord's willful intent or grossly negligent acts or omissions. 01619970? 6 259421v3 4-4-11. Insurance. Tenant shall,at its cost, procure and maintain and keep in force at all times thereafter during the Term the following insurance with respect to the Parking Spaces: (a)Commercial General Liability Insurance with contractual liability coverage for the Parking Spaces a single limit of $1,000,000 per occurrence; (b)Workmen's Compensation and Employer's Liability Insurance in the amounts required by the laws of the State of Florida;(c)automobile liability insurance covering any owned, non-owned,leased,rented or borrowed vehicles of Tenant with limits no less than$1,000,000 combined single limit for property damage and bodily injury; and (d)such other insurance as Landlord or any mortgagee may reasonably require and which is permitted by law. Prior to the Lease Commencement Date, Tenant shall deliver to Landlord copies of the aforementioned policies. Landlord shall maintain for the Tenn of this Lease(and any extension thereof)such insurance as is reasonably necessary and consistent with the insurance coverage provided by the owners of similar parking garages in Palm Beach County, Florida, to provide coverage for the Landlord' operation and management of the Parking Garage and obligations as stated herein. --L1 2. Events of Default. Each of the following shall be an"Event of Default"under this Lease: (a)Tenant fails to make any payment of Rent when due;(b)Tenant fails to cure Tenant's breach of any provision of this Lease,other than the obligation to pay Rent,within thirty(30)days after notice thereof to Tenant;(c)Tenant becomes bankrupt or insolvent or makes an assignment for the benefit of creditors or takes the benefit of any insolvency act,or if any debtor proceedings be taken by or against Tenant which is not otherwise dismissed within thirty(30)days of its filing; (d)Tenant transfers or assigns this Lease or subleases any of the Parking Spaces in violation of this Lease;(e)Tenant violates any of the Rules set forth in Section 2,28,as the same may be amended or modified from time to time,and thereafter fails to cure such Formatted:Highlight violation within thirty (30)days after receipt Landlord's notice thereof, or(f)Tenant uses the Parking Spaces and/or the Parking Garage for any reason other than the Permitted Use(as defined in Section 13, Formatted:Highlight below)and Tenant fails to cease such use within thirty (30) days receipt of Landlord's notice thereof. Notwithstanding anything to the contrary,in the event any Event of Default necessitates emergency action as reasonably determined by Landlord,then the foregoing 30-day time period shall not apply and Landlord shall have the option(but not the obligation)to immediately cure such Event of Default. Each of the following shall be an"Event of Default"under this Lease: (a)Landlord fails to observe or perform any term, covenant, or condition of this Lease on the Landlord's part to be observed or performed,and the Landlord fails to remedy the same within thirty(30)days after notice from Tenant. If the Tenant's or Landlord's Event the Default is of such a nature that it cannot be reasonably cured within the foregoing thirty(30)day period,the defaulting party shall be entitled to a reasonable period of time under the circumstances in which to cure said default,provided that the defaulting party diligently commences such cure within the foregoing 30-day period and thereafter diligendl proceeds with the curing of the default. 13. Remedies. Upon an Event of Default by Tenant which is not timely cured within the timeframes set forth above,in addition to all remedies provided by law,Landlord may: (a) Aeeeleraie and declare the Rent fey the reiffiainder of the Terni"Ine-l- A—— fenthy,4h due and iininediately payable by o^ .Rzar.ie be oa.2, mcg �i� b o b 01619970? 7 259421v3 p)� �Landlord may,but shall have no obligation to,perform the obligations of Tenant, and if Landlord,in doing so,snakes any expenditures or incurs any obligation for the payment of money, including reasonable attorneys' fees,the reasonable verifiable out-of-pocket sums so paid or obligations incurred shall be paid by Tenant to Landlord within thirty(30)days of rendition of a bill or statement to Tenant therefor together with reasonable supporting documentation). ¢d-i _Cure such Event of Default,and if Tenant,in doing so,makes any expenditures or incurs any obligation for the payment of money, including reasonable attorneys' fees, the reasonable verifiable out-of-pocket sums so paid or obligations incurred shall be paid by Landlord to Tenant within thirty(30)days of rendition of a bill or statement to Landlord therefor(together with reasonable supporting documentation). Notwithstanding anything to the contrary set forth above,all rights and remedies of Landlord and Tenant under this Lease shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease or now or hereafter existing at law or in equity. 3-14. Permitted Use. Tenant may use the Parking Spaces only for the parking of cars, motorcycles and other ordinary passenger vehicles (including pick-up trucks, vans and sport utility vehicles)by members of the general public,Tenant, and the City of Boynton Beach and Tenant may charge the general public for said parking(the"Permitted Use").The City of Boynton Beach's and Tenant's use of the Parking Spaces to store or deploy vehicles in and from the Parking Garage during hurricanes,weather events,and other emergencies shall be considered part of the Permitted Use.In no event shall Tenant cause or permit the City of Boynton Beach to park any vehicles owned or maintained by the City of Boynton Beach within the Parking Garage which are used in connection with the City of Boynton Beach's transportation or storage of any Hazardous Materials(as defined below). In no event shall Tenant use or promote the use of the Parking Spaces for any use or purpose other than the Permitted Use. Along with the use of the Parking Spaces,subject to the terms and conditions of this Lease and the reasonable rules and regulations promulgated by Landlord, Landlord hereby grants Tenants and its agents, employees, contractors,guests, tenants,licensees,invitees, and customers(collectively, the"Tenant Parties"), at no cost or expense to any of the foregoing parties,the non-exclusive right to utilize the Access Areas.Landlord acknowledges and agrees that the foregoing right of the Tenant and Tenant Parties to reasonably utilize the Access Areas shall remain in full force and effect throughout the duration of the Term(as the same may be extended). Tenant represents and warrants to Landlord that throughout the duration of the Term of this Lease,Tenant shall: (i)use its commercially reasonable efforts and good faith to monitor and control the Parking Spaces to ensure that the Parking Spaces are being utilized solely for the Permitted Use; (ii)not interfere with or diminish the use of the Parking Garage by the Landlord or any Landlord Parties or others properly utilizing the Parking Garage; (iii)take commercially reasonable measures to prohibit littering, loitering, any unauthorized signage/postings, loud music, unauthorized sale of goods, unauthorized disposing of food or garbage,and unauthorized storage of any vehicle or personal property(other than may be approved by Landlord in writing) within the Parking Spaces or Access Areas; and (iv)adopt and implement enforcement measures in furtherance of the foregoing,consistent with the terms and conditions of this Lease;provided that,the Tenant shall not have and shall not be required to have any person on site to comply with the foregoing.For the purposes of this Section 14,"Hazardous Materials"shall mean any Formatted:Highlight petroleum, petroleum products, petroleum-derived substances, radioactive materials, hazardous wastes, polychlorinated biphenyls, lead based paint, radon,urea formaldehyde, mold, asbestos or any materials containing asbestos,and any materials or substances regulated or defined as or included in the definition of "hazardous substances," "hazardous materials,""hazardous constituents,""toxic substances,""pollutants," "contaminants" or any similar denomination intended to classify or regulate substances by reason of toxicity, carcinogenicity, ignitability, corrosivity or reactivity under any applicable legal requirements relating pto the injury to, or the pollution or protection of human health and safety or the"environment' 01619970? 8 259421v3 (which term shall mean any surface or subsurface physical medium or natural resource,including,air,land, soil,surface waters,ground waters,stream and river sediments,and biota). 415. Liens. The interest of Landlord in the Parking Spaces and the Parking Garage shall not be subject in any way to any liens for any work, materials, improvements or alterations to the extent such work, materials, improvements or alterations are furnished or made by or on behalf of Tenant. This exculpation is made with express reference to Section 713.10,Florida Statutes. If any lien is filed against the Parking Spaces or the Parking Garage for work,materials,improvements or alterations claimed to have been furnished to,or made by Tenant,Tenant shall cause such lien to be discharged of record or properly transferred to a bond under Section 713.24,Florida Statutes,within ten(10)days after notice to Tenant. The foregoing shall not apply to work,materials, improvements or alterations required to be furnished, made by,or on behalf of the Tenant by the Landlord under the terns of this Lease. -1 Subordination. Tenant agrees to reasonably negotiate and execute a subordination,non- disturbance and attornment agreement with Landlord's first mortgage lender within ten (10) days of Landlord's written request of the same. The CRA Director is authorized to execute such agreement in consultation with the Tenant's attorney. Prior to the Lease Commencement Date, the Tenant agrees to review any request of the Landlord's first mortgage lender to alter a provision herein and,in consultation with the Tenant's attorney,the CRA Director shall agree to alter such provision if the alteration does not have a direct material adverse affect on the Tenant. _ _ _ {Commented[NL17]:Discuss public parking [.quirement is to be superior. 17. Assignment/Sublet. Tenant shall not assign this Lease or license or sublet all or any portion -------- --------- ----- -------- -------- --------- of the Parking Spaces without the prior written consent of Landlord, which consent tea r *' will not unreasonably be withheld.Notwithstanding the foregoing,subject to the terms and conditions of this Lease,Tenant shall have the right,without Landlord's prior written consent,to sell individual daily,weekly,or monthly parking passes to the general public for the use of the Parking Spaces for use consistent with the Permitted Use set forth in this Lease (each a "Parking Pass"). Each Parking Pass and all rights of the parties thereunder shall be subject to and subordinate to this Lease. Upon request from Landlord,Tenant shall promptly provide a list of any and all holders of any Parking Pass and the effective period of such Parking Pass.Prior to substantial completion of the Parking Garage,this Lease may be assigned,with the prior written consent of Tenant which consent will not be unreasonably withheldo�*� e� � ��^�'*�^ ^^��^�^rT� a^�� by Landlord to an entity that is managed by Landlord's key principals,Jeff Burns and Nicholas Rojo.After substantial completion of the Parking Garage, Landlord shall have the right to assign or sublease this Agreement to any third party without the consent of Tenant. Tenant may assign this Lease at any time to the City of Boynton Beach without Landlord's prior written consent.Landlord expressly permits Tenant to enEaae another entity to manage the Tenant's parking operations (including metering, electric vehicle charging, and other management related to improvements to Parking Spaces)and nothing in this Section shall be construed to mean otherwise. 44-.-18'. Alterations. (a) By Landlord. Landlord may modify, alter or change the Parking Garage in any manner or in any fashion as deemed advisable by Landlord, in its sole discretion; provided such modification,alterations or change does not materially and adversely impact the Tenant's access to and/or use of the Parking Spaces or non-exclusive use of the Access Areas. Landlord may place parking identification signs or such other signage as deemed advisable by Landlord, in its sole discretion. All alterations by Landlord must comply with applicable law,Florida Building Code and the City of Boynton Beach Code of Ordinances(including its Land Development Regulations). 01619970? 9 259421v3 (b) By Tenant.Tenant shall not make any improvements,modifications or alterations to the Parking Spaces or the Parking Garage,whether temporary or permanent,without the prior written consent of Landlord,which consent not be unreasonably withheld.Notwithstanding the foregoing,subject to the express terms and conditions set forth below,Tenant shall,at Tenant's sole cost and expense,install certain removable fixtures,such as parking meters,electronic vehicle charging stations,safety monitoring equipment,and signage within the Parking Spaces as deemed reasonably necessary for Tenant's operation of the Parking Spaces or other signage in the Access Areas in compliance with applicable law and approved by Landlord in writing,which approval shall not be unreasonably delayed (the "Permitted Alterations"). Landlord may withhold its approval to any Permitted Alterations in the event that Landlord reasonably determines that the proposed Permitted Alteration: (i)may impede or otherwise impair Landlord's operation of the Parking Garage or diminish the value of the Parking Garage;(ii)may not be easily removed or may otherwise cause damage or defacement to the Parking Garage upon installation, operation, or removal; (iii)may substantially, increase Landlord's liability or insurance premiums for the Parking Garage;(iv)is otherwise inconsistent with the standards for other similarly situated or comparable parking garages in Palm Beach County, Florida;(v)includes a structural alteration;(vi)includes an exterior change outside the Parking Spaces and Access Areas or change to the exterior of the Parking Garage(except for exterior signage indicating public parking at the Parking Garage in compliance with applicable law and approved by Landlord in writing, which approval shall not be unreasonably withheld or delayed);or(vii)is not in compliance with applicable law.Prior to Tenant's commencement of the installation of any Permitted Alterations,Tenant shall provide Landlord with: (i)pians, specifications, and proposed renderings of the Permitted Alterations; and (ii)Tenant's proposed contractor to be engaged in connection with the installation of the Permitted Alterations. Tenant's plans, specifications, renderings, and proposed contractor shall be subject to Landlord's prior review and approval consistent with the foregoing.All improvements,modifications or alterations by or on behalf of Tenant (including Permitted Alterations) shall be fully coordinated with Landlord and all such improvements,modifications or alterations shall be done in a good and workmanlike manner,lien free,and in accordance with applicable law. Any damage to any part of the Project that occurs as a result of any improvements,modifications or alterations by or on behalf of Tenant shall be promptly repaired by Tenant to the reasonable satisfaction of Landlord. In all events,prior to the commencement of the installation of any Permitted Alterations or other permitted improvements,modifications,or alterations by or on behalf of Tenant,Tenant's contractor shall provide Landlord with a copy of its insurance policy which shall meet the criteria set forth inSection-310,above,and which shall name Landlord and Landlord's Formatted:Highlight mortgagee as additional insureds and shall be evidenced by endorsement. Tenant,at Tenant's option,shall have the right to remove any and all Permitted Alterations or other permitted alterations,modifications,or improvements made by or on behalf of Tenant and replace same with similar quality, purpose and functionality.Notwithstanding the foregoing,at the time that any Tenant's Event of Default exists(after the expiration of all applicable cure periods),Tenant shall not be permitted to remove any such Permitted Alterations or other permitted alterations,modifications or improvements unless Landlord requires removal thereof:however,at the time that any Landlord's Event of Default exists or both Tenant's and Landlord's Event of Default exists (after the expiration of all applicable cure periods).Tenant shall have the richt to remove any such Permitted Alterations or other permitted alterations,modifications or improvements.In the event Tenant is entitled or required to remove such Permitted Alterations or other alterations, modifications or improvements,then prior to the expiration or earlier termination of the Term(or as may be extended),Tenant,at Tenant's sole cost and expense,shall remove,or cause to be removed,each of the Permitted Alterations or other alterations, improvements or modifications, and repair, or cause to be repaired, all damage resulting therefrom with reasonable wear and tear excepted. Tenant shall cause all Permitted Alterations,as applicable,to be separately metered at Tenant's sole cost and expense,and Tenant shall pay directly to the utility provider all amounts due and payable in connection with the use and installation of such Permitted Alterations,including,without limitation,usage fees,tap-in fees,and meter installation costs. All alterations by Tenant must comply with Florida Building Code and the City of Boynton Beach Code of Ordinances(including its Land Development Regulations). 01619970? 10 259421v3 44-19. Holdover Rent. k3 las m l ll��b ctaaa s r z fo. t1 lay-nt>z�tl f i� F 1r.-n-sdditiez+,-Tenant shall be liable to Landlord for all damages in the event Tenant holds over beyond the expiration of the Tenn that Landlord may suffer by reason of any holding over by Tenant. 4-4,20. Waiver of Jury THE PARTIES HERETO WAIVE TRIAL BY JURY IN CONNECTION WITH PROCEEDINGS OR COUNTERCLAIMS BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER IN CONNECTION WITH OR ARISING FROM THIS LEASE. 2& I. Broker. The parties each represent and warrant to the other that no real estate broker, salesman,finder or agent was involved in the procurement or negotiation of this Lease. trg party all reasonable Ruariieys'fees and 2 ys,tuieh pFevai ling pai:iy Jn the JnterpFe�ati aii id ght by the preva4ifig party her-ebaidef:.saeli casts shall be a,.,71,.ss'of<.h,.cb.,.r l;c;,mac,....i ,.,.,7 22. Rules and Regulations. Tenant shall at all times abide by any rules and regulations ("Rules")for use of the Parking Garage,including the Parking Spaces,that Landlord or Landlord's garage operator reasonably establishes from time to time,and otherwise agrees to use the Parking Garage and the Parking Spaces in a safe and lawful manner that does not interfere with or diminish the Parking Garage by Landlord's other tenants.Landlord reserves the right to adopt,modify and enforce the Rules governing the use of the Parking Garage,including the Parking Spaces,from time to time including any key-card,sticker or other identification or entrance system;provided that,such adoption,modification,and enforcement does not materially and adversely affect Tenant's and the general public's access to the Parking Spaces and Access Areas or materially increase Tenant's Percentage Share unless such modification is required by an applicable law.If the Rules are reasonably posted at the Parking Garage,Landlord may refuse to permit any person who violates such Rules to park in the Parking Garage,including the Parking Spaces,and any violation of the Rules shall subject the car to removal from the Parking Garage and the Parking Spaces.If Tenant violates any of the Rules and such violation continues for or is not cured within five (5) days following notice from Landlord then,in addition to all other rights and remedies available to Landlord at law, in equity,and under this Lease, Landlord shall have the right to remove from the Parking Garage, including the Parking Spaces,any vehicles hereunder which shall have been involved or shall have been owned or driven by parties involved in causing such violation,without liability for any damages caused to such vehicle in connection with such removal. Commented[NL18]:City Comment: 23. Casualty's and Condemnation. If, during the Term (as the same may be extended), the Landlord is only obligated to commence the repair or Parking Garage or any portion thereof, including, but not limited to, the Parking Spaces, shall be restoration of the garage AFTER and only to the extent condemned, taken by eminent domain, materially damaged or destroyed by fire or other casualty, then it receives insurance proceeds.There is no mention of �na' - Tenant shall have the option to terminate this Agreement upon written notice to Landlord an abatement of rent during the period of time the whereupon this Lease shall immediately terminate and be deemed of no further force and effect and garage is under repair. Landlord and Tenant shall be released of all obligations and liabilities arising after such termination(except for such obligations and liabilities expressly identified herein as surviving the termination of this Lease); \r Commented[NL19]:City Comment provided that,if this Lease is terminated under this provision,all Rent paid in advance by Tenant applicable This section needs to be modified as landlord should not to the period of the Term after the termination of the Lease shall be refunded upon a pro-rata basis based have the right to terminate lease without having to on the date of termination. In the event'Trial��-a Tenant does not exercise the foregoing termination option, purchase back the parking lease rights. 01619970? 11 259421v3 then Landlord shall forthwith commence to restore the Parking Garage,including the Parking Spaces,to working condition;provided,however,Landlord shall only be obligated to restore the Parking Garage to the extent that Landlord actually receives insurance proceeds or condemnation awards sufficient to enable such restoration.If Landlord:(i)fails to restore the Parking Garage within two(2)years after the occurrence Commented[KR20]:This paragraph requires discussion— of such casualty; and(ii)Tenant's access to and use of the Parking Spaces is materially and adversely the public parking obligation will survive the length of the impacted,then Tenant shall have the right to terminate this Lease upon thirty(30)days'notice to Landlord; lease,and if the garage does not last that long,the Tenant provided�thatl r`z Lir .^is F ""'mated tui'der Ft L pFavan, ealvaneeappwill need to be compensated in some way,or Landlord will — = — based need to provide the parking elsewhere. o Fke aaF��F�.ii.raF.'r Commented[KR21]:For discussion:options in case of garage destruction: 4y smeb party 4y` g 1)Retum parcel to Tenant,at a cost determined by in proportion to value provided(5.51M)and use achieved 4estt etiaii.If any portion of the Parking Garage(including any fixtures,equipment and personal property (number of years). therein)or any Parking Space is damaged or destroyed due to any act or omission of Tenant,Tenant shall 2)Provide 150 spaces within Tenant jurisdiction be solely responsible for all costs and expenses of restoration,repair and replacement of any damaged or 3)Payment to Tenant in proportion to loss of public use as destroyed property,and shall pay such costs and expenses upon demand. a result of garage destruction. 24. Bindin Effect.ffect.This Lease is binding on the parties and their heirs,legal representatives, successors and permitted assigns,subject to the]imitations set forth herein. 25. Recitals. The Recitals at the beginning of this Lease are incorporated herein as true and correct statements and binding on the parties. 26. 4e-Recording.s'e�1~ This Lease++or a memorandum thereof or similar document may be recorded in the public records of Palm Beach County,Floridan and any a4effipt to do ..matt effect Ylialseever and ffifty be SheeeSliars'or assili S.. 27. Sales Tax Exemption. Notwithstanding anything to the contrary set forth in this Lease,so long as Tenant obtains and provides a true,correct,and complete copy of a sales tax exemption certificate, issued by the Florida Department of Revenue to Landlord contemporaneously with Tenant's execution and delivery of this Lease,Tenant shall be exempted from paying sales tax under this Lease. Tenant shall,not later than thirty(30)days before the end of each calendar year throughout the Term provide to Landlord an updated sales tax exemption certificate from the Florida Department of Revenue to establish Tenant's exemption from sales tax for the upcoming year. In the event that,at any time during the Tenn,Tenant no longer holds a valid sales tax exemption certificate from the Florida Department of Revenue or it is determined by the Florida Department of Revenue that sales tax is otherwise due on the amounts payable by Tenant under this Lease for any reason whatsoever,then Tenant shall be liable for all sales taxes due under this Lease and shall promptly remit same to Landlord. Tenant may,upon written notice to Landlord, request that Landlord contest any such taxes, assessments and other charges that Tenant reasonably determines,in its good faith judgment,are not appropriate or applicable Landlord may elect,but shall not be obligated,to accept any request by Tenant to contest such taxes,assessments and/or other charges.In the event Landlord elects to accept Tenant's request,Tenant shall reimburse Landlord for all actual costs and expenses incurred by Landlord in connection with contesting such taxes, assessments and/or other charges on Tenant's behalf(including, without limitation, reasonable attorneys' fees) within thirty(30) days of Landlord's written demand therefor. Notwithstanding any pending tax or assessment contest Tenant shall be obligated to pay,when and as due under this Lease,all taxes,assessments or other charges so contested.Tenant's obligation to pay any taxes,assessments and/or other charges under this Lease shall not be contingent upon the resolution of any such tax contest. Landlord shall provide the Tenant with a credit for all taxes,assessments and other charges which are awarded to Landlord in such tax contest to the extent applicable to Tenant's Percentage Share. 01619970? 12 259421v3 28. Entire Agreement and Severability. This Lease contains the entire agreement between the parties hereto regarding the Parking Garage and all previous negotiations leading thereto,and it may be modified only by an agreement in writing signed by Landlord and Tenant.This Lease shall be governed by and construed in accordance with the internal laws of the State of Florida. Venue for any action arising out of,or in any way connected with this Lease shall be Palm Beach County,Florida. If any term or provision of this Lease or application thereof to any person or circumstance shall,to any extent,be found by a court of competent jurisdiction to be invalid or unenforceable,the remainder of this Lease,or the application of such tern or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby and each tern or provision of this Lease shall be valid and enforceable to the fullest extent permitted by law. This Lease may be executed in any number of counterparts, each of which shall be deemed an original,but all of which together shall constitute one instrument. 29. Force Majeure.If by reason of Force Majeure,it is impossible for the Landlord or Tenant in whole or in part,despite commercially reasonable efforts,to cavy out any of its obligations contained herein(except for the payment of monies or Rent),the Landlord or Tenant shall not be deemed in breach of its obligations during the continuance of such Force Majeure event.Such Force Majeure event does not affect any obligations of the Landlord or Tenant other than the tuning of performance of such obligations. The term "Force Majeure" as used herein means any of the following events or conditions or any combination thereof: acts of God, acts of the public enemy, riot, insurrection, war, act of terrorism, pestilence,archaeological excavations required by law,unavailability of materials,epidemics(including, without limitation, cases of illness or condition, communicable or non-communicable, caused by bioterrorism, pandemic influenza, or novel and highly infectious viruses, agents or biological toxins), epidemics,pandemics(such as COVID-19 and variations thereof),disease,quarantine restrictions,freight embargoes, fire or other casualty, lightning, hurricanes, earthquakes, tornadoes, floods, abnormal and highly unusual inclement weather(as indicated by the records of the local weather bureau for a five-year period preceding the Effective Date),strikes or labor disturbances,restoration in connection with any of the foregoing or any other cause beyond the reasonable control of the party performing the obligation in question, including, without limitation, such causes as may arise from the act of the other party to this Lease;or acts,or failure to act,of any governmental authority. 30. Radon.Radon is a naturally occurring radioactive gas that,when it has accumulated in a building in sufficient quantities,may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from Palm Beach County's public health unit. 31. Non-Discrimination.The parties agree that no person shall,on the grounds of race,color, sex,age,national origin,disability,religion,ancestry,marital status,sexual orientation,or gender identity or expression,be excluded from the benefits of,or be subjected to any form of discrimination under any activity carried out by the performance of this Lease. 32. Construction.No party shall be considered the author of this Lease since the parties hereto have participated in extensive negotiations and drafting and redrafting of this document to arrive at a final agreement. Thus,the terms of this Lease shall not be strictly construed against one party as opposed to the other party based upon who drafted it. 33. Exhibits.Exhibits attached hereto and referenced herein shall be deemed to be incorporated into this Lease by reference. 01619970? 13 259421v3 34. Public Entity Crimes. As provided in section 287.133,Florida Statutes,by entering into this Lease or performing any of its obligations and tasks in furtherance hereof,Landlord certifies that,to its knowledge,it,its affiliates,suppliers,subcontractors and consultants who will perform hereunder,have not been placed on the convicted vendor list maintained by the State of Florida Department of Management Services within the thirty-six(36)months immediately preceding the date hereof.This notice is required by section 287.133(3)(a),Florida Statutes. 35. Palm Beach County Inspector General.Palm Beach County has established the Office of Inspector General in Palm Beach County Code,Section 2-421 -2-440,as may be amended.The Inspector General's authority includes,but is not limited to,the power to review past,present and proposed Tenant contracts,transactions,accounts and records,to require the production of records,and to audit,investigate, monitor,and inspect the activities of the Tenant and its agents in order to ensure compliance with Lease requirements and detect corruption and fraud.Failure to cooperate to the extent required by applicable law with the reasonable requests of the Inspector General or intentionally interfering with or impeding any investigation may result in sanctions or penalties as set forth in the Palm Beach County Code. 36. Exclusion of Third Party Beneficiaries.No provision of this Lease is intended to,or shall be construed to,create any third party beneficiary or to provide any rights to any person or entity not a party to this Lease,including but not limited to any citizens,residents or employees of the Landlord or Tenant. 37. Counterparts.This Lease shall be executed in counterparts,each of which shall be deemed to be an original,and such counterparts will constitute one and the same instrument. 38. Time of Essence.Time is of the essence with respect to the performance of every provision of this Lease in which time of performance is a factor. 39. Compliance.Each of the parties agrees to perform its responsibilities under this Lease in conformance with all applicable laws,regulations and administrative instructions that relate to the parties' performance of this Lease.Landlord shall at all times have the proper business licenses required of the City of Boynton Beach for the operation and leasing of the Parking Garage. Tenant warrants and covenants to Landlord that it shall not perform any act(or refrain from performing any act)within the Parking Garage that would jeopardize,rescind,or invalidate the validity of the applicable business licenses required for the operation and leasing of the Parking Garage. In furtherance of the foregoing,Tenant agrees that it shall promptly cooperate, assist and act in good faith with Landlord in order to facilitate Landlord's obtaining and maintaining all required business licenses requested by Landlord for the operation of the Parking Garage and shall not take any action or inaction to prevent such licenses from being issued,rescinded or revoked. Subject to Tenant's foregoing covenants, Landlord is solely responsible for obtaining all applicable governmental approvals related to the operation of the Parking Garage; provided, however, Tenant shall be responsible to obtain all permits and governmental approvals related to its use of the Parking Spaces and any permitted alterations or improvements undertaken by or on behalf of Tenant(including the Permitted Alterations). 9-4 Joiner.By its Joinder hereto,the Citv hereby acknowledges that upon the dissolution of the Boynton Beach Community Redevelopment Agency,the City shall automatically become the Tenant and shall have all rights and obligations as provided in this Lease as if City were the original Tenant in this Lease,which all Parties hereby expressly acknowledge,submit to,and agree. [SIGNATURES ON FOLLOWING PAGE] 01619970? 14 259421v3 IN WITNESS WHEREOF, the parties have executed this Lease as of this day of 12022. LANDLORD: BB QOZ,LLC, a Florida limited liability company By: Print Name:Jeffrey Burns Its:Manager WITNESSES: WITNESSES: (I) (2) Print Name: Print Name: TENANT: THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY By: By: Witness: Print Name: [Note to counsel:please advise what additional signatures are necessary] Approved for legal sufficiency: Approved for financial sufficiency: By: By: LRAAttorney Financial Services Director 01619970? 15 259421v3 JOINDER PARTY THE CITY OF BOYNTON BEACH B I3 Print: Witness: Approved for legal sufficiency: Approved For financial sufficiency: Bv: Bv: CityAttorney Financial Services Director 01619970-2 259421v3 i EXHIBIT A Property Description The land referred to herein below is situated in the County of Palm Beach,State of Florida,and is described as follows: PARCEL 1—508 E.Boynton Beach Boulevard,Boynton Beach,Florida 33435 (PCN:08434528030010060) PARCEL 2—NE 4'"Street,Boynton Beach,Florida 33435(PCN: 08434528030010080) PARCEL 3—NE V Avenue,Boynton Beach,Florida 33435(PCN: 08434528030010100) PARCEL 4—115 N.Federal Highway,Boynton Beach,Florida 33435(PCN:08434528030060010) PARCEL 5—511 E.Ocean Avenue,Boynton Beach,Florida 33435(PCN:08434528030060100) PARCEL 6—515 E.Ocean Avenue,Boynton Beach,Florida 33435(PCN:08434528030060111) PARCEL 7—529 E.Ocean Avenue,Boynton Beach,Florida 33435(PCN:08434528030060120) 01619970-2 259421v3 EXHIBIT B Commented[KR22]:Need to review prior to execution Parking Garage Floor Plan 01619970-2 259421v3 EXHIBIT C Base Building Improvements The Parking Garage consists of a park-on-grade precast(or post-tension)concrete stand-alone parking structure with elevator,stairwells,and mechanical,electrical,and plumbing engineering as required by applicable laws,codes,and ordinances. 01619970-2 259421v3 EXHIBIT Commented[KR23]:Needed?Incomplete—so fix or delete. Base Rent [Note:to be discussed with client and City Commented[NL24]:$0.00 91619979-2 259421v3 Purchase and Development Agreement and Tax Increment Revenue Financing Agreements Summary of Developer's Proposed Terms - 115 N. Federal Highway • The Proiect o To be Constructed consistent with Conceptual Site Plan, which may be amended without CRA approval except as to the Required Elements o Required Elements ■ Area Median Income ("AMI") shall mean the Palm Beach County Area Median Income, as set forth and published each year by the Department of Housing and Urban Development or the City of Boynton Beach Area Median Income, as set forth and published each year by the City of Boynton Beach, as determined by the Lender. If the Lender does not make a determination, the Developer shall use the City of Boynton Beach Area Median Income, provided that; (a) the City publishes AMI levels on a regular (annual) basis, (b) the AMI levels are made readily available to the general public and (c) the City utilizes the same calculation methodology as does the Department of Housing & Urban Development. ■ Rental Apartment Building including a minimum of 236 rental units subject to the following: The units shall be rented in accordance with the following ratio (regardless of how many units are constructed) • Tier One: 3.8% of the total rental units to tenants that earn up to 80% of the AMI; • Tier Two: 22.6% of the total rental units to tenants that earn up to 100%of the AMI; • Tier Three: 23.6% of the total rental units to tenants that earn up to 120% of the AMI; • Tier Four: the remaining total rental units shall be unrestricted. • Tier One,Tier Two, and Tier Three units shall be the Restricted Units. If necessary, and if consented to by Developer in Developer's sole and absolute discretion, the total rental units and affordability requirements may be adjusted as may be required in order to meet the minimum code requirements of the City of Boynton Beach's Workforce Housing Program, provided that at no time shall the sum of Tier One, Tier Two and Tier Three units be less than 50%of the total rental units, • Affordability Restrictions 0 15 years following Construction Completion (the "Affordability Term"). 0 10% of the Restricted Units (in the same tier proportion as set forth in Section 3.3.1.1 hereof, shall remain in effect for an additional 10 years following the expiration of the Affordability Term. ■ A minimum of 16,800 feet of commercial space (e.g. restaurant, retail, and office) ■ A minimum of 150 public parking spaces which shall remain open to the public in perpetuity, subject to a Lease Agreement to be executed between the Parties, in a form substantially similar to the Lease Agreement attached hereto as Exhibit "D" (the "CRA Spaces"), in addition to the amount of parking spaces needed for the residential and commercial components of the Project.Although the CRA Spaces are separate from the parking spaces that 01616627-1 1 are designated for the residential and commercial uses, the CRA Spaces shall be included in the calculation of determining the total number of parking spaces required for compliance of the residential and commercial uses with the minimum code requirements of the City of Boynton Beach. • Development Timeline—Below is Developer's proposed Project Timeline. o Effective Date is the date the last party to the Agreement executes the Agreement o Application for Site Plan to be submitted within 180 days/6 months of the Effective Date o Land Use Approvals Received - No Deadline in the Agreement for receipt of the Land Use Approvals ■ Developer will "diligently and continuously pursue" site plan approval and all other required Land Use Approvals ■ Land Use Approvals = all required site plan, zoning, platting/replatting approvals from the City of Boynton Beach necessary to procure building permits to construct the Project on the Property. o Closing Date—within 36 months/3 years after receipt of Land Use Approvals ■ Ability to extend for 2 twelve (12) month periods subject to CRA approval which shall not be unreasonably withheld, conditioned or delayed provided Developer is using good faith and due diligence o Evidence of financing for the Project—to be provided within 10 days of receipt but no later than Closing Date o Commencement of Construction —within 36 months/3 years of the Closing Date ■ Ability to extend for 12 months subject to CRA approval which shall not be unreasonably withheld, conditioned or delayed provided Developer is using good faith and due diligence to achieve Commencement of Construction. o Completion of Construction -Temporary Certificate of Occupancy shall be issued within 36 months/3 years of Commencement of Construction ■ Ability to extend for 12 months subject to CRA approval which shall not be unreasonably withheld, conditioned or delayed provided Developer is using good faith and due diligence to obtain temporary certificate of occupancy o Final Certificate of Occupancy— no deadline ■ Developer shall use good faith and due diligence to obtain final certificate of occupancy 01616627-1 2 • Terms of Purchase and Development Agreement o Price - $100.00 o Deposit -$10,000.00 o Conditions to Close— Receipt of Land Use Approvals—defined as site plan, zoning, platting/replatting, and building permits and approvals necessary to construct the Project on the Property. o Closing-to Occur within 36 months/3 years after receipt of Land Use Approvals, with potential extensions as discussed above. o Tenants ■ Purchaser will assume all leases ■ Hurricane Alley- PURCHASER acknowledges that a current tenant of the Property is Hurricane Alley ("HA Tenant"). PURCHASER shall use reasonable efforts to relocate HA Tenant to the Project and shall use reasonable efforts to work with HA Tenant to phase construction activities of the Project in order to minimize (in the exercise of commercial reasonableness) the timeframe between demolition of the HA Tenant's current premises and construction and delivery of HA Tenant's new premises within the Project. o Reverter ■ Property will revert to CRA if Purchaser fails to Commence Construction as provided for in the Agreement—within 36 months/3 years of Closing Date. ■ CRA will pay Purchase Price ($100.00) and the amount of out-of-pocket pre- development and development costs incurred by Buyer— professional services costs o Termination ■ Default By Purchaser prior to Closing—CRA may terminate the Agreement ■ Default by Purchaser after Closing- Reverter o Assignment ■ Purchaser may assign contract to related third party without CRA consent ■ Assignment to unrelated third party requires CRA consent o Miscellaneous Provisions ■ Force Majeure— written to includes pandemics ■ Operation of Property— no new leases, renewals or extensions without Purchaser Approval 01616627-1 3 • Terms of the TIRFA o The Project— requires construction of the Project as set forth above pursuant to the Development Timeline above o Public Benefits— ■ Job Fairs and Apprenticeships- Prior to and during the construction of the Project Developer shall: • Host 2 job fairs within City of Boynton Beach • Include requirements in contracts with contractors that contractors use good faith efforts to participate in an apprenticeship program ■ Green Building—achieve National Green Building Standards Bronze certification o Tax Increment Revenue ■ Amount - 100%of Project related Tax Increment Revenue ■ Term— 15 years o Default by Purchaser ■ Developer is not entitled to payment of Tax Increment Revenue for any period during which it is in default ■ Once a default is cured, Developer is eligible to receive its Tax Increment Revenue for the remaining years of the 15-year term ■ CRA cannot terminate if Developer in default, however, Agreement automatically terminates after 15-year term o Termination—Agreement automatically terminates: ■ Upon last disbursement of Tax Increment Revenue due to Developer ■ Upon expiration of the 15-year term ■ Upon failure to Commence Construction o Assignment ■ The Agreement may only be assigned in its entirety ■ Prior to Completion of Construction • Assignment to a related entity or the Lender-without CRA consent • Assignment to unrelated party—CRA consent ■ After Completion of Construction, provided Developer is not in default • Assignment to any party- without CRA consent but requires 30 days notice o Subordination — The CRA shall administratively amend this Agreement (without requirement of CRA board approval) as may be reasonably required by the Lender, provided that such amendment pertains solely to non-material terms of this Agreement and is for the purpose of complying with Lender requirements in order to effectuate Financial Closing. If any required amendment by the Lender would have a material effect on the terms and conditions set forth in this Agreement, then such amendment shall require CRA board approval, not to be unreasonably withheld, conditioned or delayed. 01616627-1 4 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida July 13, 2021 Mr. Morris, explained in Delray Beach, he competed against 26 other companies and he personally signed a $76 M construction loan and finished an $8.5M parking garage, gave it to the City and they were given a $2.5M piece of land. He and a subsidiary of BlackRock are getting ready to sell that property for $165 million. He did the same thing in Boca at Palmetto Park, and he and his wife signed personally with Deutsche Bank. The project was incredibly successful. He did the same thing in Sarasota. Each one of those projects were mid-block projects. He was not saying they should not acquire the edges. If they got Kim Kelly's property, he would keep it and build around it His point was he had three major projects, but thought they should keep the playing field level. Chris Roberts, 70 Heather Trace Drive, supported issuing the RFP. Chair Grant explained the main reason he wanted the seven acre or larger project is because he did not want to see an apartment rental complex with retail on the bottom. He wants office space, condos and a hotel, not residential. They are missing Class-A office space. Attorney Duhy explained the item before the Board is the LOI. The Board can reject or accept it. If accepted, they will publish notice for 30 days of their intent to dispose and during that time, others can submit additional letter requests or proposals to purchase the property to be brought back to the Board for consideration. The RFP is a document that sets standards the Board established of what they require to be provided by whomever is interested. It is another notice to the public of the Board's intent to develop the property. It has a deadline and during the period of preparing their proposals and submitting prior to the Board's consideration, there is a cone of silence. The LOI would have to be voted on in September. Vote There was a vote in favor of rejecting the LOI from Hyperion. The motion passed 3-2 (Vice Chair Hay and Chair Grant dissenting.) 16E Discussion and Consideration of a Draft RFP/RFQ for the CRA Project Located at 115 N. Federal Highway. (Heard out of Order) Motion Board Member Romelus moved to remove Item 16E from the Table. Board Member Katz seconded the motion. The motion passed unanimously. Chair Grant noted they did not update the timelines for this RFP. Mr. Simon stated the item sat frozen on the table. He suggested pushing everything out a month. Instead of issuing an RFP/RFQ on June 18th, he suggested issuing it July 19th or the 20th. 19 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida July 13, 2021 Board Member Romelus thought this would be the time to incorporate other language to the RFP and asked what is the proper way to request financial viability from respondents. She thought it was a gray area a condition could address. Attorney Duhy explained the issue is a public records issue. There is a way to the information the Board needs, which is done regularly. Board Member Romelus thought to protect the interests of the respondent, the CRA could hire a consultant to vet each candidate. Attorney Duhy explained it may be possible, but she would need to see an example. She thought certain groups, private or public, working for or hired by the CRA, could apply, but she would have to research that process and whether or not the public records would attach to the private company. Board Member Romelus asked if the consultant could say they provided these documents and give a yes or no answer about the respondent's financial liability not that they have to show or issue documents that would then become public record. Attorney Duhy explained if they required a private audit of the respondent's financials and they hire them and they provide the Board with the auditor's response, the auditor's work is not a public record. The public records law attaches when the CRA hires a private corporation to do work for the CRA. There are ways to achieve that end to put the burden on the applicant, but she had a concern it could make those records public, notwithstanding the Board does not want to see them. They may be able to request them from the proposers. Mr. Simon explained staff intended to bring forward the idea, when the RFP was released to have a third-party entity assist in the evaluation process from a sufficient/insufficient response to the Board. In past RFPs, during the RFP preview process, the documents submitted by the respondents are private during the Board's deliberation until a respondent was selected and the RFP process was completed. At that time, all of the respondents' documents become public. During the process, Ms. Nicklien would send a Board view and a public view, which affords some confidentiality for the respondents. Pertinent information according to the public records law may be redacted. Confidential information comes in a sealed package. Mr. Simon feels confident they would obtain a third party for a review as other municipalities have the same process. Board Member Romelus requested including that provision in the RFP. Attorney Duhy spoke about confidentiality and noted there are two different levels. Level 1 is there is certain business data they would not ask for, because the CRA would not want, nor would any business want to give to be a public record. When she was discussing hiring a third party to review those records and make them public, it could be a problem. What Mr. Simon is discussing is when they decide the package of information, which Mr. Simon knows what is needed and which he has seen before, that they do submit, it can be given to a third party and that no one is worried about it becoming a public record in the first place, and they can vet it. She wanted to clarify how to make a distinction about the appropriate documentation to provide to demonstrate financial capability, and there are documents, no one would want to provide, so you would not want to hire an auditor to say give them those records, look at 20 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida July 13, 2021 it and then give an opinion, versus what Mr. Simon said which is this is fine, all agree to provide it, it remains confidential during the process, and you can give it to an auditor to become public. Board Member Romelus thought they could craft an RFP that would have language that would allow respondents to show financial viability, while allowing them to maintain privacy. Chair Grant stated they could ask for a loan commitment letter or guarantee. Mr. Simon explained the information about financial capability is not only centered on the proposer's ability to borrow money or find investor money, a detailed breakdown of the construction and the proposed redevelopment costs is required. It talks about the previous use of funding subsidies and qualified contractors, current audited financial statements, which includes balance sheets, and a three-year statement of past income, which would be in the confidential letter. They would want to receive verification from a third-party lending institution that the respondent has done business with them before or have discussed the project with them and while not guaranteeing a financial commitment, they would provide a more direct connection to the project, developer and the loan. Board Member Romelus favored seeing the former. She wanted the funds and every single cent broken down. Mr. Simon advised it requires a written statement of acquiring the property, what it is for, and the details of the acquisition as well. Attorney Duhy explained an RFP is at the Board's discretion. The process applies in terms of the cone of silence, the time periods, considering them a certain way, and sending required elements. She pointed out that since the GRA is doing everything for the CRA and for the public benefit, the RFPs are written fairly broadly to allow for variety, where there are a lot of variables. Once the CRA set the standards, the Board must apply them, but there as much flexibility as they want in which standards they set. Chair Grant wanted a change in Item 13C regarding parking spaces, that they will provide least 150 parking spaces and not approximately 150 parking spaces. He wanted to include a pre-apprenticeship program with Item K. One problem with the Town Square was the community did not have the skills required to work at the construction site. If the developer is able to create a pre-apprenticeship with a local non-profit, university or college, they can use the value of the program as part of the disposition of the sale of the property. They can use the sale and disposition of property in the CRA for items not contained in the CRA Comprehensive Plan She cautioned these have to be in the public interest and in the CRA District, based on the CRA plan, but there are economic opportunities that could justify the action. He wanted to see enhanced environmental features as part of the project. They are trying to combat climate change and be sustainable. They have their own Green Building Code, but he did not want to see them get the minimum. Board Member Romelus requested the building be connected to the City's Water Chiller Plant. Chair Grant did not know if it was possible, as tunneling under could be an issue. They can let that request be open ended and discussed. Mr. Simon explained items like fiber optics and reclaimed water are discussed during negotiations of the project when the builder is selected as there may be limitations the CRA would not know about. 21 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida July 13, 2021 He thought, as in the past, the list of components to include grows beyond a few things listed in the RFP that a developer can add. Those are items listed for post RFP development designs as well as water and sewer upgrades. Chair Grant wanted workforce housing included and noted with workforce housing, some funding would be provided. When the project is built, the developer will pay taxes and that is what subsidizes the workforce housing component. Mr. Simon explained the CRA would say it is required and the developer can propose the use of TIF funding, but not an amount, as there will be a variation. They may have someone willing to risk a larger range between the market and workforce rate and other developers may not. The CRA always has been open to assistance and incentives, but does not guarantee it up front. If the Board wants workforce housing, it does not have to specify how many units. Chair Grant proposed fund workforce housing through TIF for 10 years, where the CRA is able to enter into a contract for rent control as part of a contract. Mr. Simon asked if they would like to specify the range of area median income as the targeted workforce for the developer to work into the proforma. The maximum is 140%, but 120% is the HUD high. The lower the median income, the higher the subsidy. Chair Grant wanted to keep the range from 80% to 140% and have mixed-income capability in the downtown. Chair Grant commented the CRA got it right with 500 Ocean to use TIF to build out commercial, and the GRA has the ability to enhance commercial spaces. Attorney Duhy noted the CRA already says it has TIF available for funding for said listed items. Board Member Katz had no objections saying TIF would be available for any purpose, but he did not want developers to think they are entitled to TIF for a specific item. Mr. Simon recalled with 500 Ocean, they had to build office space above the retail. That was an item they settled on to justify the TIF. They did not buy the office space, like they are doing with Centennial, it just became part of the formula. They removed residential units to create that space and the TIF offset the rents they would have received from residential units. There was no way, to equate the monetary return they have provided in TIF to the cost in square footage, which is why he preferred it be as open ended as possible with regard to the Board's ability to negotiate how they want to use the TIF. The developer may or may not need it. If the Board leaves it open, the Board may come up with different ways to assist the developer. If the developer is providing the CRA with something the Board wants they would not normally do and the CRA wants to pay for it, that is part of the negotiations. Once they negotiate, the Board may find the developer would provide six things and the Board wants two, the CRA could pay for them, but the Board would not know that until the responses are received, see where the developers have read what was asked, and met with the City to ensure it meets Code. The Board has done a good job vetting what the community and the Board wants. He thought they would receive good responses. Attorney Duhy explained when presented to the Board, the members could ask specific questions and their willingness to accept specific components funded by the CRA during that phase during the process. Mr. Simon pointed out the Board could, during the presentations, ask for the elements the Board wants. They have to provide a checklist of what the CRA wants. Chair Grant 22 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida July 13, 2021 thought they should change the language regarding negotiating with adjacent property owners. Mr. Simon explained they could get approval from the Oyer's, between now and the release they will participate, contingent on certain things, but then the image to the developer will include what the developer would do with it. There is an option of what the CRA can control, and an option with the developer taking a larger piece. Chair Grant wanted to include properties the CRA is in negotiation with. Whatever properties they are negotiating with has to be in public and he wanted that included. Mr. Simon asked if the Board was using the HUD Area Median Income (AMI) or the Boynton Beach AMI and learned they would use the Boynton Beach AMI going forward. Chair Grant commented item 13F Consideration and incorporation of adjacent properties into overall project by providing evidence of site control, contractual commitment and inclusion of CRA properties. Chair Grant wanted to finalize the date. For proposed schedule the RFP/RFQ approval by CRA Board would be today, July 13, 2021, the issue date would be similar to July 23, 2021. The voluntary pre-submission meeting would be August 19, 2021. Question requests for clarification deadline is September 30th and submission deadline of October 19, 2021. They could hear presentations by the CRA Advisory Board in December and learned they could if the Board wanted to seek outside counsel regarding the vetting, they should be given 30 days. Chair Grant requested confirmation three different firms can vet the presentations and they would give examples of what and how they look at financial feasibilities and requirements for these types of proposals. They could provide a ranking in an evaluation and depending on the scope of work, they can provide services to help negotiate a contract. Staff can provide examples of their work from other jurisdictions. December 2nd would be the presentation to the Advisory Board and December 14th to the GRA Board. March 9th is the purchase and sale agreement, they would have a new CRA Board to deal with. There is a fifth Tuesday the CRA Board could have a special meeting on November 30th, which gives an extra meeting in December to discuss the matter. They will present to the CRA Advisory Board on November 4th based on design and on November 301h meeting, the CRA Board will have the financial report. Chair Grant requested a motion to approve the RFP as amended and to ensure financials are provided that can be vetted by an independent auditor, change Item 32C to at least 150, Item K is to include a pre-apprenticeship program, make a requirement of the project workforce housing with Boynton Beach AMI of 80% to 140%, make clear if it is available for inclusion for project, make a clarification to the RFP including properties other than the GRA to identify those that may be under negotiation with the CRA, amend the dates as discussed and include enhanced environmental features. Motion 23 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida July 13, 2021 Board Member Penserga moved to approve. Vice Chair Hay seconded the motion. The motion passed unanimously. 16. H Discussion and Consideration of a Letter of Intent from the Barber Family Companies LLC for CRA-Owned Property Located at 211 E. Ocean Avenue (Heard out of Order) Chair Grant requested a motion to remove Item H from the table. Motion Board Member Katz so moved. Board Member Romelus seconded the motion. The motion passed unanimously. Anthony Barber, 1920 S. Federal Highway, thanked his sister and four-year old son who was with him, for sitting through the proceedings so quietly. He submitted a letter regarding the Magnuson House for a restaurant concept based on a project he is involved in, in West Palm Beach. Troy's BBQ will celebrate 25 years on Sunday. They expanded in Boca, but were unsuccessful. On August 20th, he will expand into West Palm Beach with a restaurant concept as opposed to BBQ, that he wants to bring to Boynton. He has development partners who own 20 restaurants throughout Palm Beach, Dade and Broward Counties and they agreed to partner with him at the Magnuson House for a restaurant that would be called "Magnuson." The restaurant concept would use shipping containers with all outdoors seating and all outdoor cooking apparatus. They would model kitchens and restrooms with shipping containers for a turn. If they started tomorrow, he could open by next July and it would be a self-funded project. He was looking to the CRA for a purchase agreement with the CRA having first right of refusal of any sale, and/or assistance and funding if they cannot come to agreement on the terms of a sale. Chair Grant questioned if Mr. Barber was willing to pay the appraised value. Mr. Barber hoped not. He clarified the CRA has grant programs and opportunities for building, signage, and interior and exterior build outs. He was not looking for the CRA to give him the property. He was looking to enter into discussions with the CRA to come up with an agreement that works for both sides. He thought what could work was the Barber Family Company LLC provides the funding for the redevelopment of the property as long as the purchase of the property was in scale to the redevelopment. The CRA would spend the same amount of money either way. Chair Grant asked about parking and learned he would try to enter into a parking agreement with the City in the long term. In the short term, he would like to use parking for the Schoolhouse Children's Museum and Old High School.(Cultural Center) and from a land use agreement to the west of First Street or Avenue. Chair Grant explained the City has no control over the garages. Mr. Simon explained the Magnuson House was part of the sale to the City at the corner of NE1st and 1St by the fire station. There was a parking lot with 58 spaces. When the Shovel Ready project was approved, 36 or 38 paces were attached to it. The City is not 24 BOYNTO C D m,m,BEACH :: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: July 13, 2021 OLD BUSINESS AGENDAITEM: 16.E. SUBJECT: Discussion and Consideration of a Draft RFP/RFQ for the CRA Project Located at 115 N. Federal Highway SUMMARY: At their meeting held on May 11, 2021, the CRA Board directed staff to finalize a draft Request for Proposal/Request for Qualifications (RFP/RFQ) to bring back to them for final approval. In addition to the standard requirements (e.g. financial capability and experience of the proposers, local hiring, proposal submittal timelines, etc.), elements to consider when formulating the project components and evaluation criteria listed in a for redevelopment of the 115 N. Federal Highway properties include but are not limited to the following (see Attachments I & II): • A mixed-use project providing retail, office, grocery, and residential units (including workforce housing if applicable); • Incorporation of public open spaces, plazas, publicly accessible WiFi, lighting and enhanced green spaces into the design including the preservation or expansion of Dewey Park; • Providing the opportunity and consideration for the CRA to fund the construction of public parking spaces over and above the amount required for the development itself; • Incorporation of multimodal accommodations and amenities into the Project's design; • Consideration of exterior design enhancements of proposed parking structures to ensure compatibility with the surrounding area; • Consideration of incorporating adjacent properties into the overall project; • Consideration of the overall design and positioning of key elements of the proposed project in recognition of the potential for a future commuter rail station on the west side of NE 4th Street; • Incorporation of a reverter clauses associated with CRA owned parcels; • Incorporation of first-right-of refusal clauses associated with CRA owned parcels; • Incorporation of terms for adherence to development timelines and property exchanges; • Experience in completing comparable development projects within markets similar to the project area as the proposing team; • Proposer's financial terms, purchase price, development and operating proforma; • Proposer's financial capacity to complete the proposed project; and, • Proposed plan or program (including monitoring mechanisms and apprenticeship) to use local contractors, sub-contractors, and laborers in the project. Proposed Schedule for RFP/RFQ: • RFP/RFQ approval by CRA Board (subject to legal review): June 8, 2021 • Issue Date of RFP/RFQ: June 18, 2021 • Voluntary Pre-Submission Meeting: July 15, 2021 • Question/Request for Clarification Deadline: September 2, 2021 • Submission deadline: September 21, 2021 • Presentation to the CRA Advisory Board: November 4, 2021 • Presentation of Proposals to the CRA Board: November 9, 2021 • Purchase and Development Agreement: February 8, 2022 BACKGROUND: At their December 8, 2020 meeting, the CRA Board discussed the pros and cons of entertaining one of the Letters of Intent submitted for the acquisition and redevelopment of the CRA owned property located at 115 N. Federal Highway. The CRA Board concluded that the Request for Proposals/Request for Qualification (RFP/RFQ) process would be the best way to solicit proposals while addressing the goals and objectives of the CRA Redevelopment Plan (see Attachment 111). Attachment IV provides a public comment log of comments received by staff regarding the redevelopment of the property. The CRA Board wanted to gather input from the community as to the future redevelopment project and finalized a list of 10 questions to be incorporated into the community survey at their February 9, 2021. On March 3, 2021, the CRA received 507 responses through the Survey Monkey Platform and a detailed report is provided as Attachment V. FISCAL IMPACT: To be determined by the CRA Board. CRA P LAN/P ROJ ECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: 1. Approve the 115 N. Federal Highway Infill Mixed-Use Redevelopment Project RFP/RFQ and its issuance subject to final CRA legal review. 2. Do not approve the 115 N. Federal Highway Infill Mixed-Use Redevelopment Project RFP/RFQ. 3. Alternate determination based on CRA Board discussion and consideration. ATTACHMENTS: Description D Attachment I -Aerial Map of 115 N. Federal Highway Parcels D Attachment II - Draft Request for Proposal/Request for Qualifications D Attachment III -CRA Redevelopment Plan - Downtown District D Attachment IV - Public Comment Log for 115 N. Federal Highway Parcels D Attachment V -03.04.21 Community Input Survey Results f Ott s s_)�v t 14ttls ! t s- - r to id1 k -11L.2 pfa m > m m U 0 E y v ti , kl, )I1 Q f, fam p m ,11 I 1 of� u 01 p fa it ��ty #U m >, 0 -0 _0 _� a o Lu m a°i d fa m° o LL a LL a°i LL E m m 'rf u'n Z O adO M � O V L L-0 O. O T O.fS O O LO N I I In x'12 8 .. m 1) fa fa fa fa nfa o 3 0 C: 2 -°0 3 0 _00 3 0 _00 3 0 -°0 3 t o etiiso s-h)S Q O Q Q O Q Q O Q Q O Q Q O U 1f l�y ksys �»xi iy �� u3 ! E V �j k1V`s x i t t t v ) - tP,i. u,.SPUk 'k ) Slit``•aK tc K v-il a�i�, �'.,,,� IS Rtt t: .: �,s„tksssatt'{irtt4t�=�z�iil�c N ��P�,�S s 1 li�kstl).7 ),�r»>U) 1 t \Itis g � It T4 fel' tl�P' �41M ow CA x q { _ ) r- ■VVf r7 c d EL Des s' q � a i x £•tll�, �1 s c rt I `}ti 81ft §,' ass g i�'• f� lfisl {k4 `�� ,i ��p °� i# -'� � � Ir i BOYNTON ', � . 01 �:8, :m' ' ,B E AC H ,; C; MUNI"rYREDEVELOPtvA,,ENTAGEN�'L.14,Y BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY REQUEST FOR PROPOSALS AND DEVELOPER QUALIFICATIONS 115 N. Federal Highway Infill Mixed-Use Redevelopment Proiect Location: Boynton Beach Community Redevelopment (BBCRA) Owned Properties Issue Date: June 18, 2021 Submittal Deadline: September 21, 2021, no later than 2:00 p.m. The Boynton Beach Community Redevelopment Agency (BBCRA) is issuing this Request for Proposals and Developer Qualifications (RFP/RFQ) for the acquisition and redevelopment of various BBCRA owned parcels located at 115 N. Federal Highway and adjacent parcels, Boynton Beach, Florida, as referenced and identified on Attachment "A" and hereinafter referred to as the "Project Site". The BBCRA will accept sealed proposals at its office located at 100 E. Ocean Avenue, Boynton Beach, FL 33435 ON OR BEFORE September 21, 2021, no later than 2:00 p.m. Eastern Standard Time, as determined by the time stamp or clock at the BBCRA's reception area. Responses to this RFP/RFQ ("Proposals") received after the date and time set forth above will NOT BE ACCEPTED FOR CONSIDERATION. All proposals will be date and time stamped by the BBCRA. Faxed or emailed proposals will not be accepted. The RFP/RFQ documents, including all related attachments, must be obtained from the BBCRA office orwebsite at www.boyntonbeachcra.com. 1. Community and Economic Setting The City of Boynton Beach (City), with a population of 72,000, is the third largest city in Palm Beach County, Florida. It is located approximately 45 miles north of Miami and 15 miles south of West Palm Beach.This puts it in the heart of southeast Florida's rapidly growing tri-county Miami- Dade/Broward/Palm Beach metropolitan area. Boynton Beach has direct access to the Intracoastal Waterway, Interstate 95 (I-95)and the Florida Turnpike. It also has a market of more than 6 million people within a two-hour radius and ready access to three international airports, two major rail lines, as well as the Tri-Rail regional commuter rail system. 01034473-4 101034473-4} Page 1 of 24 i 2. Property Disposal and Proiect Description This RFP/RFQ is being issued for a project known as the-115 N. Federal Highway Infill Mixed-Use Redevelopment Project (the "Project"), and is seeking proposals for the acquisition and redevelopment of a BBCRA-owned property located at the Project Site. The Project Site is approximately 1.87 acres and located within the Downtown District as described in the 2016 BBCRA Community Redevelopment Plan and carries a recommended Future Land Use of Mixed-Use High with a corresponding Zoning designation of Mixed-Use Core. The recommended land use and zoning designations provide for a density of 80 units per acre with a maximum allowable building height of 150ft. Under defined circumstances, allowable density may be increased by twenty-five percent (25%) if a proposed development meets certain requirements under the City of Boynton Beach's Workforce Housing Ordinance. It is the responsibility of each Proposer to review the City of Boynton Beach Land Development Regulations, applicable site plan and design guidelines and limitations. Additionally, the Project Site is located within the designated Transit Oriented Development (TOD) and Transportation Concurrency Exemption Area (TECA) of the City of Boynton Beach. All proposals and Projects must be in conformance with and in furtherance of the 2016 Boynton Beach Community Redevelopment Plan ("BBCRA Plan").The BBCRA Plan may be accessed on the BBCRA website: www.boyntonbeachBBC A.com. 3. Survey and Appraisal. An aerial boundary and parcel map along with a copy of the property survey is included with this RFP-RFQ as Attachments "A" and "B." An appraisal of the subject properties that make up the Project Site was completed on January 27, 2020 and August 16, 2020 and are available in electronic form on the BBCRA's website or upon written request to the BBCRA. Proposers should not rely solely on the information in the appraisal when compiling the financial components of a proposal. The appraised value should be considered with all offers and requests for BBCRA incentives. 4. Palm Beach County Impact Fees: Development of the property will be subject to Palm Beach County Impact Fees. Please contact the Planning, Zoning and Building Administration Division of Palm Beach County for specific information regarding impact fees applicable to the Project, or to download relevant information go to www.discover. be ov.or � zb�administration . S. Incentives for the Proiect. Under Chapter 163, Florida Statutes,the BBCRA is empowered to encourage and incentivize redevelopment within the BBCRA Redevelopment Area consistent with the BBCRA Plan. The BBCRA is committed to meeting the goals and objectives of the BBCRA Plan and will support the Project with policies and potential Tax Increment Revenue(TIR)funding. 01034473-4 101034473-4} Page 2 of 24 i 6. Pre-Proposal Meeting. A voluntary pre-proposal meeting has been scheduled for July 14, 2021 at 3:00 p.m. Eastern Standard Time in City Hall Chambers, located at 100 E. Ocean Avenue. All interested proposers are required to attend the meeting and be prepared to ask questions. Proposer's failure to attend the pre-bid meeting and sign in within 10 minutes of the meeting start time will disqualify a proposer's proposal. 7. Proposer Registration. All entities interested in responding to this RFP/RFQ must register with the BBCRA via email by providing their name, address, telephone number, and an email address to Michael Simon, BBCRA Executive Director, at SimonM@bbflous. Any information concerning addenda, changes, additions, clarifications, notices, and other topics related to this RFP/RFQ will be sent to registered proposers using the registration information provided. 8. Additional Information. After the proposals are received by the BBCRA, the BBCRA may make requests to proposers for clarifications,assurances,orfor other details including, but not limited to,financial and disclosure data relating to the proposal or proposer (including all affiliates, officers, directors, partners and employees). Any inquiries of a general nature applicable to all proposers will be directed to all proposers. Following submission of a bid, the proposer agrees to promptly deliver such further details, information and assurances, including, but not limited to, financial and disclosure data relating to the bid and/or the proposer (including the proposer's affiliates, officers, directors, partners and employees), as requested by the BBCRA. 9. Architectural and Design Considerations. The Project should incorporate quality architectural design and site development standards that enhance the downtown area and adjacent properties. Proposers should review the BBCRA Plan for Project development and design guidance. Proposals will be evaluated on their adherence and incorporation of architectural and design elements presented in the BBCRA Plan and the City of Boynton Beach Land Development Regulations. 10. Required Elements of Proposals. Proposals must contain all of the following documents and information in order to be deemed complete. Proposals not deemed complete may be rejected. a. Provide a general written statement describing the qualifications and background of the proposer. b. Provide a certificate of good standing from the Secretary of State of Florida and the state in which the corporation is headquartered, if not Florida. c. Provide a copy of the commercial lease agreement, if applicable, or proof of property ownership at the location the proposer is currently licensed to do business. If the 01034473-4 101034473-4} Page 3 of 24 i Proposal is submitted by more than one entity, each entity much provide the requested information separately. d. Provide a list of key personnel that will be directly involved in proposed Project's development or management team, along with their professional qualifications and a list of similar projects on which they have actively participated. Provide no less than three and no more than ten related projects for this item. e. Provide a written list of similar mixed-use projects developed by the proposer that were completed within the last three (3) years, including photographs, addresses, dates the projects were completed, and general project description. Provide no less than two and no more than ten projects for this item. If the Proposal is submitted by more than one entity,each entity must provide the information requested separately. f. Provide a detailed description of the proposed Project, with text and graphics. This should include but not limited to a schematic site layout plan; proposed density, intensity, and height; parking locations; a breakdown of the proposed total number of residential units and unit types, including number of bedrooms and bathrooms, and square footage for each unit type and conceptual elevations, as well as the items listed in Paragraph 9, "Architectural and Design Considerations," and Paragraph 10, "Requirements for the Proposed Project," of this RFP/RFQ document. g. Provide a proposed breakdown of all project pre-development costs, construction development costs and post development sales pro forma. The pro forma shall include a section that clearly identifies all of the proposed funding sources to pay for the project and all of the identified costs of the Project including those of property acquisition from the BBCRA. Within the list of funding sources, provide the dollar amount of any proposer equity and investment contributed to the proposed Project. Include a breakdown of any proposed funding assistance being requested of the BBCRA, if applicable, and how those funds will be used when combined with other funding sources. h. If the Project is proposed to use funding subsidies from the BBCRA other qualified entities, proposer must provide a list of those entities and demonstrate experience with obtaining such project-based subsidies for workforce housing by listing projects and the amount and type of subsidy utilized. i. Provide a description of how the proposer will make attempts to utilize local qualified contractors, and sub-contractors as part of the completion of the proposed Project. Documentation of this effort will be required as part of the project monitoring. j. Provide proof of financial capability to complete the proposed Project. Financial capability may be demonstrated by submitting a current (audited, if available) financial statement of the proposing entity which includes a balance sheet, a three- year statement of past income, and a projected one-year income statement for the current fiscal year for the proposer (and its parent entity if proposer is a subsidiary). Tax returns may be substituted for financial statements. 01034473-4 101034473-4} Page 4 of 24 i When possible, the proposer should also submit third party evidence of the ability to secure financing such as a preliminary financing commitment letter or letter of interest from a lending institution or other primary source of investment financing. A firm financing commitment from a lending institution or other source of investment financing may be required prior to the closing of the sale of the Project property, or as otherwise stipulated in negotiated agreements between the successful proposer and the BBCRA. Information regarding any legal or administrative actions, past or pending, that might impact the capacity of the proposer (or its principals or affiliates) to complete the Project must be disclosed. Disclosure of any bankruptcies by any of the above or related entities during the past ten years must be made with the RFP/RFQ. Financial information should be submitted in a separate, sealed envelope or package and marked 'confidential.' Financial information will be accepted only from the Proposer as part of the submission packet and not those submitted directly to the BBCRA by an outside entity or institution. k. A signed written statement of intent to purchase the Project property indicating the proposed purchase price along with a statement of willingness to execute a Purchase and Development Agreement within 90 days of selection if selected. Any Purchase and Development Agreement ("Agreement") will contain performance-based criteria and milestone timelines for items such as, securing debt funding, formal site plan application, commencement of construction, limitations on transferability or assignability of the Agreement without prior approval from the BBCRA, termination provisions for failure to meet the criteria listed and other provisions to adequately define the rights, duties and obligations of the parties. The Agreement may also contain a reverter clause. I. Provide authorization to Perform Credit Check for each proposer or Business entity. The Authorization must be executed by the appropriate officer of proposer entity(see Attachment "E & E.1." Disclosure and Authorization to Perform Credit Check forms). m. A list of all civil and criminal legal actions in which each proposer entity(and its parent entity if it is a subsidiary) is currently a named party or was a named party in the past four (4) years, providing the case number, case description, the state of jurisdiction, and disposition (or status) of each case. Proposer(s) may include any additional relevant information. If there are no legal actions to disclose, provide a written statement attesting to this fact. n. Provide a PowerPoint presentation of the proposal, consisting of no more than 15 slides. o. All other requirements contained in this RFP/RFQ, including all attachments that request a proposal or information from the Proposer. p. An acknowledgement letter attesting that the proposer has read and understands all procedures and requirements of this RFP/RFQ(see Attachment "D"). 01034473-4 101034473-4} Page 5 of 24 i 11. Submittal Package Requirements. a. Location and Deadline. Proposals must be received by the BBCRA at 100 East Ocean Avenue,4t" Floor, Boynton Beach, FL 33435 on or before September 21, 2021, no later than 2:00 p.m. Eastern Standard Time (the Deadline), as determined by the time stamp or clock at the BBCRA's reception area. Proposals received after the date and time set forth above will NOT BE ACCEPTED FOR CONSIDERATION. Proposers may withdraw submitted proposals and resubmit at any time prior to the Deadline. b. Form and Number of Copies. Proposals must be delivered in a sealed box or envelope. Faxed and emailed proposals will not be accepted. In total, one (1) bound original proposal document must be submitted with a title page listing the name of the RFP/RFQ and the submitting proposer along with one (1) unbound but clipped copy of the proposal and one (1) digital copy of the complete proposal in PDF format on a labeled CD/DVD or thumb drive. Proposals shall be clearly marked on the outside of the envelope or delivery box container as follows: Request for Proposals and Developer Qualifications for the 115 N. Federal Highway Infill Mixed-Use Redevelopment Proiect Boynton Beach Community Redevelopment Area City of Boynton Beach, Florida Issue Date: June 18, 2021 Submittal Deadline: September 21, 2021, no later than 2:00 p.m. c. Completeness. All proposals must be complete upon submittal to the BBCRA. d. Signature.The proposal,and any documents submitted with the proposal that require a signature, must be signed by an individual authorized by proposer to legally bind and represent proposer. e. Failure to Meet Submittal Requirements. The failure to meet the Deadline, submit a proposal that complies with the form and number of copies requirements, or submit a complete proposal may result in the proposal being rejected and returned at the sole discretion of the BBCRA. f. Proposal validity. Proposals shall remain valid and binding on proposers for 180 days after the submittal date. 12. RFP/RFQ Documents Provided. The following planning and site documents may be obtained from the BBCRA office or htt s: wwwobo ntonbeachcraocom business-develo ment rf s-rf s-itbs Property survey (provided as Attachment B) Phase I and/or Phase II Environmental Report Property Appraisal 01034473-4 101034473-4} Page 6 of 24 i 2016 Boynton Beach Community Redevelopment Plan In addition, all proposers are encouraged to walk the area surrounding the Project location and it will be assumed that each proposer has performed all necessary inspections on the property. 13. RFP/RFQ Proposal Evaluation and Selection Process. The BBCRA staff shall review each proposal and provide a determination to the BBCRA Board as to whether or not each proposal meets the minimum submission requirements for review, including whether the proposal is complete, and whether it fully complies with the terms and conditions outlined in this RFP/RFQ. A proposer's failure to provide a substantially complete RFP/RFQ response submission may result in the submission not being evaluated. The BBCRA Board or designated staff may request clarification of submitted information from any Proposer. The confidentiality of proprietary information from competing Proposers shall be maintained to the extent permitted by law. In addition to meeting the minimum requirements of this RFP/RFQ as described in Paragraph 10, each proposal will be evaluated based on the ability of the Proposal to incorporate the following design and development criteria, which are listed below: a. Creation of a mixed-use development project providing retail, office, grocery, and residential uses (including workforce housing if applicable); b. Incorporation of public spaces and plazas, publicly accessible WiFi, enhanced green elements into the proposed design including the preservation and enhancement of the City of Boynton's Dewey Park (see Attachment A); c. Providing the opportunity and design consideration for the CRA to fund the construction of approximately one hundred fifty (150) public parking spaces over and above the amount of parking spaces required for the development itself; d. Incorporation of multimodal accommodations and amenities into the Project's design, such as but not limited to shared bicycle, "last mile" vehicle stops such as Uber or Lyft, commuter bus stops and a future commuter rail stop located on the Federal East Coast Railway property on NE 4t" Street (see Attachment A); e. Consideration of exterior design and lighting enhancements of proposed parking garage structures to ensure compatibility with the surrounding area; f. Consideration and incorporation of adjacent properties into the overall project by providing evidence of site control or contractual commitment; g. Providing executed forms verifying that the Proposer has met with City of Boynton Beach Planning and Development Department staff to review the Land Development Regulation requirements applicable to the Project being proposed; h. Experience in completing comparable development projects within markets similar to the project area as the proposing team; i. Proposer's financial terms, purchase price, development and operating proforma; j. Proposer's financial capacity to complete the proposed project; and, 01034473-4 101034473-4} Page 7 of 24 i k. Proposed plan or program (including monitoring mechanisms and apprenticeship) to use local contractors, sub-contractors, and laborers in the Project. After the BBCRA staff reviews the proposals for completeness and evaluates the proposals based on the criteria above, the BBCRA staff will present the results of the review and evaluation process to the CRA Advisory Board and BBCRA Board at a public meeting. The Proposers may be asked to present their Proposals and their PowerPoint slide presentations before the BBCRA Advisory Board and CRA Board at their regular scheduled meetings in the City Commission Chambers at City Hall located at 100 E. Ocean Avenue. The BBCRA Advisory Board acts as a recommendation body to the BBCRA Board. The BBCRA Board will then consider all proposals that meet the minimum submission requirements for review, BBCRA staff review, the BBCRA Advisory Board recommendation, and/or any other relevant data in the selection of the successful Proposer. At the conclusion of the public presentations, a Proposer may be selected by the BBCRA Board. However, the BBCRA Board is under no obligation to select a Proposer regardless of their ranking, and can, at its sole discretion, opt to terminate the RFP/RFQ process or continue the process to a subsequent meeting. The existence of a contractual relationship between a Proposer and the BBCRA is contingent upon successful negotiations between the BBCRA and a selected proposer, and execution of an agreement by both parties. Therefore, upon selection of a successful proposer, the BBCRA and the successful proposer will then enter into negotiations for a Purchase and Development Agreement that will contain terms substantially similar to those contained in the successful proposal and this RFP/RFQ. i. Any Purchase and Development Agreement must be in a form approved by the BBCRA Board and BBCRA legal counsel. ii. If the BBCRA and the successful proposer are not able to agree upon a Purchase and Development Agreement satisfactory to both parties within ninety (90) days of the selection of the successful Proposer, Proposer shall have the right to terminate the negotiations. The BBCRA may terminate negotiations at any time for any reason. iii. If the BBCRA sends an agreed-upon Purchase and Development Agreement, or sends a Purchase and Development Agreement with a communication that informs the proposer that the agreement constitutes the BBCRA's final offer, and Proposer fails to return an executed copy of the provided Purchase and Development Agreement within 30 days of receipt of such agreement from the BBCRA, the negotiations are deemed terminated unless the BBCRA explicitly extends the deadline in writing. 01034473-4 101034473-4} Page 8 of 24 i iv. The BBCRA may withdraw its offer of agreement, including a final offer, at any time prior to acceptance of such agreement. Upon termination of negotiations or withdrawal of offer of agreement, the BBCRA may move forward as it deems appropriate, which may include entering into negotiations with another Proposer, re-advertising the RFP/RFQ, electing to terminate the RFP/RFQ process, or any other action it deems to be in the best interest of the BBCRA. Any transfer of the property from the BBCRA to a proposer for less than market value will be subject to approval of the City of Boynton Beach City Commission. 14. Tentative Schedule. The following tentative schedule is anticipated for actions related to this RFP/RFQ. All dates, times, and locations are subject to change. All changes will be posted to the BBCRA's website at wwwoboyntonbeachcra.com. Issue Date of RFP/RFQ: June 18, 2021 Voluntary Pre-Submission Meeting July 15, 2021 Question/Request for Clarification Deadline: September 2, 2021 Submittal Deadline: September 21, 2021 Presentation to Advisory Board: November 4, 2021 Presentation to BBCRA Board: November 9, 2021 Purchase and Development Agreement: February 8, 2022 (Note: The dates offered above are subject to change — registered interested parties will be notified by email of changes, if any.) 15. Contact and Questions a. Contact Information. All correspondence, questions, and requests for clarifications related to this RFP/RFQ must be directed to the person designated as the procurement officer for this RFP/RFQ: Michael Simon, Executive Director Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue, 4t" Floor Boynton Beach, Florida 33435 Phone: (561) 600-9091 Fax: (561) 737-3258 Email: simonm@bbfl.us b. Form of Contact; Answers in the Form of Addenda. All correspondence, questions, requests must be submitted in writing via email to the person identified above and may be submitted at any time but no later than August 31, 2021. All answers to questions, clarifications, and interpretations will be issued in the form of addenda, 01034473-4 101034473-4} Page 9 of 24 i which become part of this RFP/RFQ. The proposer must acknowledge receipt of each addenda by completing the Addenda Acknowledgement Form and including it with the submitted Proposal (see Attachment "H"). It is the responsibility of all proposers to obtain, review and respond to any and all addenda issued. Oral explanations, information, and instructions shall not be considered binding on the BBCRA. All proposers are encouraged to independently verify the accuracy of any information provided. Neither the BBCRA nor any of its agents or employees shall be responsible for the accuracy of any oral information provided to any proposer, or to any assumptions made by proposer. Written responses to all written questions submitted shall be maintained by the BBCRA in the RFP/RFQ file. c. Limitations on Communications; Cone of Silence; No Lobbying. Proposer or persons acting on proposer's behalf may not contact, between the release of the solicitation and the end of the 72-hour period following the BBCRA posting the notice of intended award (excluding Saturdays, Sundays, and state holidays), any employee, officer, or board member of the BBCRA concerning any aspect of this RFP/RFQ except in writing to the procurement officer or as provided in the RFP/RFP documents. Violation of this provision may be grounds for rejecting a response. Further,during the same time period, proposer or persons acting on proposer's behalf may not contact any BBCRA Advisory Board Member, or any other person working on behalf of the BBCRA on any matter related to this RFP/RFQ. Communication prohibited by this RFP/RFQ, or by any other state, federal, or local law or regulation, may cause an individual or firm to be disqualified immediately from participating in the proposal or selection process. Any violation of this condition may result in rejection and/or disqualification of the proposer's proposal. For purposes of this section, persons acting on proposer's behalf shall include, but not be limited to, the proposer's employees, partners, attorneys, officers, directors, consultants, lobbyists, or any actual or potential subcontractor or consultant of the proposer.This "Cone of Silence/No Lobbying" is in effect from the date of publication of the RFP/RFQ and shall terminate at 1)the time the BBCRA Board selects a proposer, rejects all proposals, or otherwise act which ends the solicitation process; or 2) at the end of the 72-hour period following the BBCRA posting the notice of intended award, excluding Saturdays, Sundays, and state holidays, whichever is later. 16. Disclosure and Disclaimer. Proposer understands and acknowledges that to the extent permitted by law, the BBCRA retains all rights, at its sole and absolute discretion, to: a. Withdraw this RFP/RFQ at anytime; b. Modify the schedule associated with this RFP/RFQ; 01034473-4 101034473-4} Page 10 of 24 i c. Issue addenda to this RFP/RFQ; d. Request additional information, clarifications, or assurances from one or more proposers or prospective proposers; e. Reject any and all proposals; f. Refrain from awarding an agreement as a result of this RFP/RFQ; g. Verify the accuracy of any information provided; h. Accept proposals that deviate from this RFP/RFQ; i. Disqualify or reject proposals that are incomplete, untimely, or unclear; j. Re-advertise this RFP/RFQ and accept new proposals; k. Obtain economic feasibility studies or third party evaluations with regard to any part of any proposal; I. Evaluate the proposals through any process that complies with the BBCRA Procurement Policy, this RFP/RFQ, and applicable Florida Statutes, m. Select the one or more successful proposals or proposers it deems will be in the best interests of the BBCRA, regardless of which proposal appears to offer the best monetary value to the BBCRA; n. Waive any required element or condition found in this RFP/RFQ for all proposals or for a specific proposal; o. Waive any formalities associated with this RFP/RFQ; p. Negotiate agreements, abandon or withdraw from negotiations, approve agreements, and take other similar actions as a result of this RFP/RFQ. Any proposer who submits a proposal in response to this RFP/RFQ fully acknowledges all the provisions of this disclosure and disclaimer and agrees to be bound by the terms hereof. In the event of any differences between this disclosure and disclaimer and the balance of the RFP/RFQ, the provisions of this disclosure and disclaimer shall govern. If proposer fails to fully comply with all requirements of this RFP/RFQ, proposer or proposer's proposal may be disqualified. 17. Protests. The Bid Protest Policy is available upon request. Submittal of a proposal in response to this RFP/RFQ constitutes acceptance of this policy. 18. Non-Discrimination. The selected proposer, on behalf of itself, its successors and its assigns, agrees that no person shall, on the ground of race, color, disability, national origin, religion, age, familial status, sex, or sexual orientation, be subjected to discrimination in any way that is associated with the RFP/RFQ the BBCRA, the proposal, any agreement resulting from this RFP/RFQ or the Project. 19. Permits, Taxes, Licenses and Laws. The successful proposer will be required to pay for and/or obtain, at its own expense, all permits, licenses, fees, and taxes required, and to comply with all federal, state, and local laws, ordinances, rules, and regulations applicable to responding to this RFP/RFQ and carrying out the Project. 01034473-4 101034473-4} Page 11 of 24 i 20. Sensitive and Proprietary Information. The BBCRA will maintain the confidentiality of sensitive and proprietary information to the extent permitted by law. The BBCRA will consider all other information, documentation and other materials submitted in response to this ITB to be of non-confidential and or non-proprietary nature and therefore subject to public disclosure under Chapter 119 of the Florida State Statutes. 21. Public Records. The BBCRA is public agency subject to Chapter 119, Florida Statutes.The successful proposer shall comply with Florida's Public Records Law. Specifically, the successful proposer shall: a. Keep and maintain public records that ordinarily and necessarily would be required by the BBCRA in order to perform the service; b. Provide the public with access to such public records on the same terms and conditions that the BBCRA would provide the records and at a cost that does not exceed that provided in chapter 119, Fla. Stat., or as otherwise provided by law; c. Ensure that public records that are exempt or that are confidential and exempt from public record requirements are not disclosed except as authorized by law; and d. Meet all requirements for retaining public records and transfer to the BBCRA, at no cost, all public records in possession of the Proposer upon termination of the contract and destroy any duplicate public records that are exempt or confidential and exempt. All records stored electronically must be provided to the BBCRA in a format that is compatible with the information technology systems of the BBCRA. IF PROPOSER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO PROPOSER'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS RFP/RFQ, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (561)737-3256; 710 North Federal Highway, Boynton Beach, Florida 33435, SimonM@bbfl.us. 22. Public Entity Crimes Statement. A person or affiliate who has been placed on the convicted vendor list following a conviction for a public entity crime may not submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; may not submit a bid, proposal, or reply on a contract with a public entity for the construction or repair of a public building or public work; may not submit bids, proposals, or replies on leases of real property to a public entity; may not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under a contract with any public entity; and may not transact business with any public entity in excess of the threshold amount provided in s. 287.017 for CATEGORY TWO for a period of 36 months following the date of being placed on the convicted vendor list. In order to qualify for consideration under this RFP/RFQ, proposer must complete and attach Attachment "I" Public Entity Crimes Statement 23. Drug Free Workplace Certification Preference shall be given to proposer(s) with drug free work programs, under the standards described in Section 287.087, Florida Statutes. Whenever two (2) or more proposals that are 01034473-4 101034473-4} Page 12 of 24 i equal with respect to price, quality and service are received by the BBCRA or by any political subdivision for the procurement of commodities or contractual services, a proposal received from a business that certifies that it has implemented a drug-free workplace program shall be given preference in the award process. In order to receive such preference, the proposer shall complete and submit with its proposal the attached certification, Attachment "J" Drug Free Workplace Certification. 24. E-Verify. In any agreement resulting from this RFP/RFQ, the Proposer will be required to warrant,for itself and its subcontractors, compliance with all federal immigration laws and regulations that relate to their employees. Proposer agrees and acknowledges that the BBCRA is a public employer that is subject to the E-verify requirements as set forth in Section 448.095, Florida Statutes, and that the provisions of F.S. Sec. 448.095 will apply to such an agreement. END OF MAIN DOCUMENT PROCEED TO ATTACHMENTS 01034473-4 101034473-4} Page 13 of 24 i List of Attachments: A. Aerial Map/Parcel Map B. Survey C. Proposer Information D. Acknowledgement Letter E. 1. Authorization to Perform a Credit Check (personal) 2. Authorization to Perform a Credit Check (business entity) F. Proposed Project Funding Uses and Sources Information G. Authorization for Release of Information H. Addenda Acknowledgement I. Public Entity Crimes Statement J. Drug Free Workplace Certification K. Certification of Non-Scrutinized Entity L. 01034473-4 101034473-4} Page 14 of 24 i ATTACHMENT "C" PROPOSER(S) INFORMATION Name: Street Address: Mailing Address (if different): City, State, Zip: Telephone No. : Fax No: Email Address of Contact Person: Ownership Status - Is the company currently for sale or involved in any transaction to expand or to be acquired by another business entity? If yes, please explain the impact to the organization and management efforts. Age of Organization — In continuous business since: Leadership - List Corporate Officers, Principals, Partners or owners of your Organization with titles and addresses. If a publicly held company, list Chairman of the Board, CEO, and President: Federal Identification No.: State of Incorporation & Registration No.: If not a corporation, explain your status: 01034473-4 101034473-4} Page 15 of 24 i ATTACHMENT "D" ACKNOWLEDGMENT LETTER PROPOSER(S) SHALL INCORPORATE THIS ACKNOWLEDGEMENT LETTER IN THEIR SUBMITTAL PACKAGE ***************************************************************************** Re: Boynton Beach Community Redevelopment Agency Request for Proposal/Request for Qualifications (RFP/RFQ) dated June 18, 2021 115 N. Federal Highway Infill Mixed-Use Redevelopment Project To Whom It May Concern: The undersigned has read the Boynton Beach BBCRA(BBCRA) Request for Proposal/Request for Qualifications (RFP/RFQ) for the 115 N. Federal Highway Infill Mixed-Use Redevelopment Proiect, dated June 18, 2021. On behalf of proposer identified below and our proposal team, we agree to and accept the terms, specific limitations, and conditions expressed therein. We have read, rely upon, acknowledge and accept the BBCRA's disclosure and disclaimer, which is fully incorporated by reference into this letter, and certify that all of the requirements as described in the RFP/RFQ are met and all required documents are enclosed. We further certify that all information presented in this proposal, and all of the information furnished in support of the proposal, is true and complete to the best of our knowledge and belief, and we are aware of the fact that making false statements or presenting false information that results in an Agreement may be penalized to the maximum extent allowed by law. Sincerely, Name of Proposer Print Name and Title Authorized Signature Date 01034473-4 101034473-4} Page 16 of 24 i ATTACHMENT "E" DISCLOSURE AND AUTHORIZATION TO PERFORM CREDIT CHECK An authorization to Perform Credit Check will need to be completed by each Principal/Owner. For Principal/Owner: (Please use a separate form for each principal/owner) As Principal/Owner of Proposer, I (name) hereby affirm I have read the above disclosure, and consent to and authorize the Boynton Beach Community Redevelopment Agency's ("BBCRA") investigation into my credit worthiness. Such consent and authorization is given with respect to any and all persons who may conduct an investigation of my credit worthiness on behalf of the BBCRA, including independent contractors and credit agencies retained by the BBCRA for such purpose. Any information provided to the BBCRA is a public record subject to the provisions of Ch. 119 F.S., and I may request a copy of any information provided to the BBCRA as part of the BBCRA's investigation into my credit worthiness. I grant such consent and authorization to the BBCRA for the period commencing as of the date of this authorization and terminating at the time a Proposal is selected by the BBCRA Board. I hereby waive any and all claims, past present or future, which I may have against the BBCRA by reason of any credit investigation made pursuant to my consent and authorization herein given to the BBCRA. Proposer Name: Principal/Owner Name: Date of Birth: Current Home Address: Previous Home Address: Email: Phone#: Signature: Date: Print Name: 01034473-4 101034473-4} Page 17 of 24 i ATTACHMENT "E.1." AUTHORIZATION TO PERFORM CREDIT CHECK For Proposer (Business Entity): The Proposer hereby consents to and authorizes the Boynton Beach Community Redevelopment Agency's ("BBCRA") investigation into the credit worthiness of the Proposer. Such consent and authorization is given with respect to any and all persons who may conduct an investigation of the Proposer's credit worthiness on behalf of the BBCRA, including independent contractors and credit agencies retained by the BBCRA for such purpose. Any information provided to the BBCRA is a public record subject to the provisions of Ch. 119 F.S. Proposer grants such consent and authorization to the BBCRA for the period commencing as of the date of this authorization and terminating at the time a Proposal is selected by the BBCRA Board. This Proposer hereby waives any and all claims, past present or future, which the Proposer may have against the BBCRA by reason of any credit investigation made pursuant to Proposer's consent and authorization herein given to the BBCRA. An authorization to Perform Credit Check will need to be completed by each Principal/Owner and by the Business. Proposer (Business) Name (D/B/A if applicable): Current Business Address: Federal Tax ID# State of Incorporation: Phone#: Fax#: Authorized Signature: Date: Print Name: Title: 01034473-4 101034473-4} Page 18 of 24 i ATTACHMENT"F" PROPOSED PROJECT FUNDING USES AND SOURCES INFORMATION Project Uses and Sources Land Costs - Soft Costs - Construction Costs - Carrying Cost/Financing Costs - Marketing and Sales Costs - Permit and Impact Fee Costs - Developer Overhead and Profit - Total Project Cost - Capital Stack Proposer/Developer Equity $ - Outside Capital Investor Equity $ - Mortgage or Financed Amount $ - Amount of CRA contribution requested, if any $ - Other funding as identified $E- - Funding Total $ - 01034473-4 101034473-4} Page 19 of 24 i ATTACHMENT "G" AUTHORIZATION FOR RELEASE OF INFORMATION To whom it may concern: The undersigned hereby authorizes you to release to the Boynton Beach Community Redevelopment Agency(BBCRA)or the City of Boynton Beach any information in your possession regarding the undersigned either of a professional credit or personal nature including the statement of your opinions with regard to the undersigned's professional credit and personal character, or of the proposer identified below. The undersigned also authorizes you to release to the Boynton Beach Community Redevelopment Agency(BBCRA)or the City of Boynton Beach any information in your possession regarding the business identified as "Proposer" below. By: Print Name: STATE OF FLORIDA COUNTY OF PALM BEACH THE FOREGOING INSTRUMENT was acknowledged before me this day of 20_, by who is personally known to me or who has respectively produced as identification and did not take an oath. Notary Public: Print Name: Commission No: (Seal) My Commission Expires: 01034473-4 101034473-4} Page 20 of 24 i ATTACHMENT "H" ADDENDA ACKNOWLEDGEMENT Receipt is hereby acknowledged of the following addenda to the The Boynton Beach Community Redevelopment Agency Request for Proposals and Developer Qualifications 115 N. Federal Highway Infill Mixed-Use Redevelopment Project By entering checking YES or NO in the space provided and indicating date received. No. 1 ❑ Yes ❑ No Date No. 2 ❑ Yes ❑ No Date No. 3 ❑ Yes ❑ No Date No. 4 ❑ Yes ❑ No Date No. 5 ❑ Yes ❑ No Date RFP/RFQ INFORMATION WAS OBTAINED FROM: ❑ BBCRA Website ❑ Newspaper Ad ❑ City Hall ❑ Other, please specify: Authorized Signature Print Name Title Date 01034473-4 101034473-4} Page 21 of 24 i ATTACHMENT"I" PUBLIC ENTITY CRIMES STATEMENT A person or affiliate who has been placed on the convicted vendor list following a conviction for public entity crime may not: submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; submit a bid proposal, or reply on a contract with a public entity for the construction or repair of a public building or public work; submit bids, proposals, or replies on leases of real property to a public entity; be awarded or perform work as a contractor, supplier,subcontractor or consultant under a contract with any public entity;or transact business with any public entity in excess of the threshold amount provided in Section 287.017, Florida Statutes, for CATEGORY TWO for a period of thirty-six (36) months following the date of being placed on the convicted vendor list. As the person authorized to sign the Statement, I certify that Proposer has not been placed on the convicted vendor list within the past 36 months and complies fully with the above requirements. Proposer Name Authorized Signature Print Name Title Date 01034473-4 101034473-4} Page 22 of 24 i ATTACHMENT"J" CERTIFICATION OF DRUG FREE WORKPLACE PROGRAM I certify that , the Proposer responding to this RFP/RFQ maintains a drug-free workplace program, and that the following conditions are met: (1) Proposer publishes a statement notifying employees that the unlawful manufacture, distribution, dispensing, possession, or use of a controlled substance is prohibited in the workplace; and specifying the actions that will be taken against employees for violations of such programs. (2) Proposer informs employees about the dangers of drug abuse in the workplace, the company's policy of maintaining a drug-free workplace, any available drug counseling, rehabilitation, and employee assistance programs, and the penalties that may be imposed upon employees for drug abuse violations. (3) Proposer gives each employee engaged in providing the commodities or contractual services included in this RFP a copy of the statement specified in Subsection (1). (4) In the statement specified in Subsection (1), Proposer notifies the employee that, as a condition of working in the commodities or contractual services covered under this RFP/RFQ, he/she will abide by the terms of the statement; and will notify the employer (Proposer) of any conviction of, or plea of guilty or nolo contendere to any violation of Chapter 893 or any controlled substance law of the United States or any state, for a violation occurring in the workplace no later than five (5) days after such conviction. (5) Proposer imposes a sanction on, or requires the satisfactory participation in a drug abuse assistance or rehabilitation program if such is available in the employee's community by, any employee who is convicted. (6) Proposer makes a good faith effort to continue to maintain a drug-free workplace through implementation of this Section 287.087, Florida Statutes. As the person authorized to sign the statement, I certify that Proposer complies fully with the above requirements. Authorized Signature: Date Name &Title (typed) 01034473-4 101034473-4} Page 23 of 24 i ATTACHMENT"K" CERTIFICATION OF NON-SCRUTINIZED COMPANY , as Proposer, hereby certifies that it is not on the Scrutinized Companies that Boycott Israel List created pursuant to Section 215.4725, Florida Statutes, and is not engaged in a boycott of Israel. If the BBCRA determines that this certification is falsified or contains false statements, or that Proposer is placed Scrutinized Companies that Boycott Israel List or engages in a boycott of Israel after the submittal of the Proposal or the execution of any agreement arising out of this RFP/RFQ, the BBCRA may disqualify the Proposal and/or terminate the agreement. Proposer Name By: Authorized Representative of Proposer Date: STATE OF COUNTY OF SWORN TO and subscribed before me this _ day of , 20 , by . Such person (Notary Public must check applicable box): [ ] is personally known to me [ ] produced their current driver license [ ] produced as identification. (NOTARY PUBLIC SEAL) Notary Public (Printed, Typed or Stamped Name of Notary Public) 01034473-4 101034473-4} Page 24 of 24 Ae - = F NTON EACH community Redevelopment Plan r -'Now - 4M . a ,, tirr f is t � t « 1 f r � t to is d r ,' „ . J7 ,�•� r�r � � .� r i£,' r � r „i it l � � 1r11� � '�Y�i�'�{ t - ,£\ ja�� rrir, �,•t� ��r�,. - � --�,`' � ,(, S ),r,r��{r� s tatlraF�r4,;.r r trk4 a t{k,4�.;SfY�§, =,1�1 t,i` 3 Sr t�,,.. 3 { rt rr ori 1 }�r tlt � }1 r> r. r� t r.r ,S �� ,� A sl �� 3' � � i ✓i' ��1 RTA' 'r'S 5 �r»t s is{; ,,,1,t�s,�t t` t � _.}i rr,t,ir art ,.i�11:,, t`•,S t��l;;ot� t��tt�i ,y1 Sr r,,•.. ,`t#+ �1 r " ' r s1,{� 1MI�� { >{j,14 �'� �� } � � �3 tt � � �� am, > iI J � tlk t � x O'.vRon oll[ Apra- 4 �• , pi t,t ; tt„ > i t � pp Shy 9 �p$ 1 C t6s t { Ir t 80 D o. to D i t",,r,,� r r tn t o d u��' IIIon Planning C ` all . ng Planning Considerations T h Vision The Downtown District has been included in several planning efforts including the Federal Highway Corridor Plan, the Downtown Vision � r and Master Plan, and the original CRA plan adopted in 1984. It has long been the desire a' 'r of the City to reinvigorate the historic center I� of Boynton Beach. Some progress has been _ x made toward this goal with the development of the Casa Costa, Marina Village condominiums, ' and the soon to be completed 500 Ocean ' } mixed-use development. The CRA has invested in the redevelopment of the Boynton Harbor Marina to create a tourism � destination, preserve a working waterfront and support the boating community. The Agency � planned and constructed the Boynton Beach Promenade that extends from Federal Highway to the Intracoastal Waterway; the Promenade also connects to the City's Mangrove Walk Park �, {,}' �,, and the Marina. K � Eel.. The Downtown District is bound to the north by N.E. 7th Avenue, to the south by S.E. 12th Avenue, to the east by Federal Highway and the Intracoastal Waterway, and to the west by the FEC Railway. The District connects via Federal } i l Highway and S.E. 4th Street to the secondary �.' �! fst,` � development node at Woolbright and Federal Highway. Ym Y Figure 40: Downtown District Location Map Downtown Boynton Beach is easily accessed via I-95 and Boynton Beach Boulevard: the distance from I-95 to Federal Highway is less '`► than one mile. The City's beach at Oceanfront Park is only 1.7 miles from I-95 or, for residents of one of the new downtown developments, a quick walk over the Ocean Avenue Bridge. The Tri-Rail Coastal Link commuter rail station is planned for the downtown at N.E. 4th Street between Ocean Avenue and Boynton Beach Boulevard. This led the City to adopt the Downtown Transit Oriented Development District, allowing for a 25% density bonus within '/2 mile of the future station. 82 Ili ain'Jim, Ch—all le"n A second consideration is that the Downtown District is entirely enclosed within the Transportation Unlike Delray Beach or West Palm Beach, Boynton Concurrency Exception Area (TCEA) which, in Beach historically has only had a very small downtown addition to the residential exception area applicable area. It extended from just east of Federal Highway east of 1-95, exempts all development from the Palm to west of Federal Highway at Ocean Avenue. There Beach County traffic concurrency thus allowing have been very few commercial buildings that could denser development. be repurposed into restaurants and stores as Delray Beach has done. Consequently, the first CRA Plan The existence of both of these transportation- adopted in 1984 concentrated on the downtown oriented designations is a factor in considering where area (smaller than proposed in this plan) as a increased height and density will occur within the redevelopment priority. CRA district. The Downtown District's location in the Some of the planning challenges are: center of both the DTODD and the TCEA supports the highest density and height within this district. • Lack of developable parcels — assemblage is required • Property owners have unrealistic expectations of the value of their property � • Not pedestrian friendly No shade trees u- • No public parking areas and little on-street parking �``��<<,_` � • Lack of wayfinding signage • No design theme to create an identity Yp • Limited space on Ocean Avenue to locate retail and restaurant uses Several factors were considered in determining the land use designations for the Downtown District. First, the downtown will be the future site of the station for the planned Tri-Rail Coastal Link commuter service on the FEC Rail line, which will serve the South Florida metropolitan region. To improve land development patterns in advance of station development, the City adopted a Downtown Transit Oriented Development District (DTOD), covering a '/2 mile radius around the station's location. The DTOD district regulations support increased intensity of development through a 25% density bonus. Figure 41: Example of District Planning Challenges 8 84 VIIs on Downtown Boynton Beach will be where people live, work and play in an environment that provides bikeable and walkable access to the beach, restaurants, transit, parks and cultural experiences. There will be areas to gather and socialize. Entrepreneurs will open new restaurants and businesses creating financial benefits to the local economy. Attractive new buildings will provide housing for people of all ages and incomes, and accommodate new shops and restaurants. Streetscape enhancements are recommended for the Federal Highway corridor. The space for these enhancements may be obtained through either right-of-way dedications or public easements. The enhancements should include: • Create a Complete Street design for Federal Highway including the addition of: • On-street parking • Bike lanes • Enhance median with mature tree canopy (at time of planting) and landscape lighting • Marking of major intersections with materials such as pavers, paint, etc. • Create a Pedestrian Zone adjacent to the right-of-ways that is inviting, safe and includes: • Addition of canopy street trees • Minimum 8'wide clear sidewalk • Minimum 8'wide active use area abutting the building • Decorative light poles at both the vehicular and pedestrian scales • Enhanced street furniture, bus shelters, bike racks and receptacles • Active uses along the first floor of development • Canopy trees that provide immediate shading at time of construction • Bus shelters with unique design for the downtown district • Underground overhead utilities • Public art in key locations • Additional pedestrian crossings where needed • A greenway along SE 4th Street and Ocean Avenue connecting Pence Park and the Marina, per the Connectivity Plan • An eco-trail connecting the pedestrian zone to Mangrove Park, per the Connectivity Plan. 85 To attract new [8Sid8OtS and buSiO8SS8S' the area must p[8S8[t 2 unified vision for the future. Th8[8fO[8' it is recommended that the changes to the Future Land Use map be made using the new future land use/ zoning structure 2Sshown: Table 5: Recommended Futuro Land Use (FLU)Classifications within the Downtown District LAND USE DENSITY CORRESPONDING ZONING DENSITY MAX CAP* HEIGHT High Density 15 R-4 I PUD, PUD 15 45' Residential Mixed-Use 50 MU-2 40 65' Medium MU-3 50 75' Mixed-Use High 80 60 100, MU Core 80 150' General nia C-4 Commercial n,/a 45' Industrial n1a M-1 n/a 45' Recreation nJa Recreation Wa 45' Properties located within the TOD may recieve a 25%density bonus MU- High . 80 dulao; (Zoning MU-Core) Commercial uses required to front Federa�Hwy MU- Med . TOD Bonuses (height density) CommerciJal uses required to front Federal H"ry Suitding frontage required on SE 4101 StrL-et Max 4 stories on SE 411, street Figure 42: Cultural District Example Projects S£ a. V f �� 0 o e o i f� �s1 ite � amt I r i;b it i a1,t bob} � a�_ •I+�_ Y�, � r , u� 'a� "D) a'y�`�SAa ta1F1��. rr � WW Aoo I Ilk s14`4S}`1a�i157)fa�11�1 1}t�ttallirl� �IMW' i t Baa i! a a vi ii �i � a �11taj ILI t ro l��FF 14ai�t�� 'i11tVl��sI i b `,> i P El A��wk r �+ rmy,86—%Y axe¢Af.§6(a MmIN than ly Rg wtM�"x,"O.3 1 x ti,:[fes R d q;#.aa srr P#waapit"f w 4 E9 r6;a t 7t nc. �i n,1�o-#,Ns19lgAn€p'�' 111� i III Vd. ��b>E.�rtx a�2CsesFAr�.aa,ri�E4�iI<�I� '� _ 13 �� ` J li II LxI*9TI A)trna t 1 RA �y Figure 43: Recommended Land Use for the Downtown District 87 In O[dS[ to pnDnOOtS an @CdvS and vv@|k@b|S built SOvnDOnOS[d in the OOvvOtOvvO District, the fDUOvvO0 recommendations apply: ^ Active commercial uses shall berequired onthe street frontage ofOcean Ave.Automobile oriented uses, such aogas stations, car washes, and drive-thruo. are prohibited. ^ The build-to line shall accommodate a ten foot oidevva|k, mature shade trees /at inots||\. street lights and street furniture ^ Buildings fronting Federal Highway, Boynton Beach Boulevard and G.E. 4th Street shall have 0O-9O96window tOwall ratio OOthe first floor. ^ Approximately 75% of the lot frontage must be occupied by structure and adjacent to the pedestrian zOOS ^ Buildings fronting Boynton Beach Boulevard or Federal Highway shall have minimum height of 30' ^ Buildings fronting Boynton Beach Boulevard and/or Federal Highway shall be a maximum of 45' in height, any additional height permitted by the zoning districts must be stepped back proportionately to the Ov8[2|| height, 2 nOiOinOunO of 10' deep. ^ Parking shall be located tothe rear orside ofthe proparty. ^ Only when access is not possible from the rear orside shall curb outs be permitted on Boynton beach Blvd O[ Federal Highway. ^ All buildings along Federal Highway must have pedestrian access from the right-of-way/sidewalks. ^ The main pedestrian entry, or front door, must be fronting Federal Highway. ^ Where mixed use development is proposed adjacent residential areas, the residential areas shall be protected through the residential compatibility standards and the use of landscape buffers and/ or walls as appropriate. Staff will review architectural sb/|as and make recommendations regarding Architectural Guidelines that may enhance the character of the District. This process will include public input. At Figure 44: 8E4th St. Example Mixed Use Medium Project NN 88 � rix) ien¢gal," Cfi Ib 7 �, �u1� ,lili,Irl IF S ,l f, y,)11a� rk��511 _-w LC'''d'".L k1 1a r nisi"� �i er�ie�ra,. axyclapravi n l ParaItbl Pairkin f " viir4 GSLycie Pas Md"Ir 1P1€vd l'f�§i4{'i ' Parallc[Parking On slte Parking Pedesl,riapi Zone Parallel Pat#ing iC4l PYkI 4 ' Figure 45: SE 4th St. Design Diagram 89 g � _ r t� N l i 1 �vi ,3 f 6�lt li��+��}�{��lirf ti 4}r I��t�'trts�j��s , sh ros i IAI rt. r rt!7 ££ ,,,a JR ) t!£; t £ r l T' t� }} Y i ®' " Ott'ay h '}y� `� '" ON ...IT y AW t�� { " ra 4" ISA ! `i p {{ w g n a r 1. t s Figure 46: Example of Mixed Use High Project in the Downtown District 90 4� � k,`� { I ! { t u 4. s Be V i{ I g k m y ) ' ry FIs ^I' � � W' Yr ` Adutl ' a I � l A�T ��'� `i�� _ LL�'� Fy`�"}�1+�' est ey •y-lkN {�r2L 4-4 Figure 47: Downtown District Master Plan 91 I i'r Y � r t a fu "t i I ; swom «_ IMP k' 16, 1 i � I q f i _ r s 1 �WI JS�� 7 � lk t i4 � 1 nn l i s, ; } ss�l ��! i �Vti lslSt 1i\ � �� i'r f��il��t t��'t;•3 r��{}��flS SQ��r,�,i'stst'S�J�il�Ait�iSi}s�i��is sls! is Ss 'q rI � s G IUy s� tt��s siy� 7rls lsi li�ttS 4 t(jt f{ (t1 �Jt I�#�1i1 4}i�� 92 2020 CRA COMMENT LOG for 115 N. FEDERAL HWY Date. Method of Comment: Name: 8/25/2020 Email Paul Kirchoff 9/6/2020 Email Kim Kelly 9/6/2020 Email Susan Oyer 9/8/2020 Email Paul Kirchoff 10/13/2020 Email Susan Oyer 11/4/2020 Email Brian Benninghoff 11/10/2020 Email Eleanor Essery 11/10/2020 Email James Kosluk 11/20/2020 Email Mary Chaundy Pan-iela Wohler, dn-,iinistrati °e Assistant City Manager's Office e - Mailing Address: P.O. Box 310 Boynton Beath, Florida 3425 PhysicalAddress: 100 E. Ocean Ave. I Boynton Beach, Florida 3435 kr, 561-742-6015 IJP Wohler,P@bbfl.us boynton-beach.org/ 1111�0 iI c?7';i 011 it E 93 9 13 CITY OF DOYNTON SFACi9 Please be advised that Florida has a goad public records law and all correspondence to n-ie via enIail n-,Iay be subject to disclosure.Under, Florida records law, en-sail addresses are public records.Therefore, your,e-n-iail on-in-mni ation ars your,e-n-iail address n-,iay be subject to public disclosure. From: Paul Kirchhoff<pirch @ bellso th.net> Sent:Tuesday, August 25, 2020 12:20 PM To: Romelus, Christina <Romel sC bbfl. s>; Hay, Woodrow L. <HayW bbfl. s>; Katz,Justin <KatzJr bbfl. s>; 2enser at bbl. s;grar t bbfl. s; Grant, Steven <GrantS bbfl. s> Subject: Development possibility So, let me get this straight... A developer wants to make a bet on downtown that will bring in 500 new residents, bring in millions in property taxes AND get our 3 million back that we horrifically overpaid for the church building, And you are considering scrapping the idea because Hurricane Alley needs parking? I am as big a fan of Hurricane Alley than anyone, but they have street parking and parking next to the tracks. Can't we just carve out a dozen or so spaces for them in the proposed garage and be done with it? HOW LONG will we have to wait to finally get a viable downtown? I am afraid I'll be dead and buried before I see it. I share Steven Grant's desire for a train station, but the "Coastal Link' is a decade or more away. Is there some way you could craft a plan that calls for an option on a piece of the development for that station should that rail project ever come to fruition? The downtown Master plan depicts a train station right across the street from the French restaurant. This is currently used as an FEC railroad spur. The fact that we have a very visible parcel of land in our downtown that is used for stacking railroad ties and track maintenance vehicles is outrageous. Can we perhaps use the 3 million from the sale to buy FEC out for use for parking and/or a future train station? Or use it to buy other land in Boynton that they could use for the spur? We are really not going to have a beautiful downtown unless that goes away. Count me in as strongly SUPPORTING the mixed use development at the site of the old church and parking lot. It is EXACTLY the kind of development that downtown needs. Paul Kirchhoff Downtown resident since 2005 2 "SEPARATOR PAGE" CONTINUE TO NEXT COMMENT B TO aaMBEACK , A America's Gateway to the Gulfstream Please be advised that Florida has a goad public records law and all correspondence to nie via email n-,Iay be subject to disclosure.Un er, Florida records law, en-iail addresses are public records.Therefore, your,e-n-iail on-in-wni ation and our,e-n-iail address n-,iay be subject to public disclosure. From: Kim Kelly<harleycabo@gmail.com> Sent: Sunday, September 6, 2020 1:36 PM To: LaVerriere, Lori <LaVerriereL flus>; Simon, Michael <Sion flus>; Grant, Steven <GrantS flus>; Hay, Woodrow L. < ay fl.us>; Katz,Justin <KatZJr flus>; Penserga,Ty<PenseraT flus>; Romelus, Christina < oelusC@bbfl.us> Subject: 115 N Fed Hwy Please see attached as I would like to add this to the proposal for development at 115 N Fed Hwy Boynton Beach, Florida 33435 to be considered at the Sept 8th Board Meeting Kim Kelly 529 E Ocean Ave Boynton Beach FI 33435 561 364 4008 "! 561 364 4083 office 3 r '>£ = - 1' t1' _ ,\tt+. ri'• i tt t r �-rr> t i,. ,i,,r# r t :,it ;;. r£'' £ t' r k '�>ak k �, �fy -�\ ,i,r i \ j t}J �. { c t, ,,,,f: r sr x 11ij1`•;-.t) } t 3 tst \£s,ia4i1j5tt 1�t� � r q} U �,t t i ftt t t 1i Z .t' t v t , s,lldjs{srts2 1�+ s 1�MH 'along 1 �l sa�vt U �tsii tt i(}slri It'.. ,r„x'i}v {#�� 7, ,t5 '1. as _- f j1t}fists � G � .r ` s t st It try�st r tt}s= Gs Y 'li a ,:,I• - ,tt '`r 1st ,lyjil 1}V1}tt} ,,1 1 f,i,)tr,}�t ,t, Y( 1 .�)1tt�lltrt,}>�d( „It;r.k,i t4+ xt,,,,, l �, 1y q t i,?s, i I S ; t= t z tr\1 s£I ,, t a 11�, � Y , 1r t t ,{I qts t`t tt , sq�,, S 3} ; I, ts? ,il }4:'i�,t '1„ .I {tt}Ay {; } v,.r�(+ z 41\r Y - _ _ }, !t i ::3 711 t :li 1� ra�ay*.. - + It,r it}Sr,• q, ,151 Syr{ t.},j+s� _ ,r t, _ - - - � t 2�}tSl(Sra rt.rlrr,to ,v�ll,t1Ar+ 5.,tt ,its, S Yi? OIL •� ��ria,t„ ��}ja ti at t Uao ri. '� - tS' S - t lite jt t� 7 t r�rsllttS4t tf t* Sao tt Its sty }st tll I +41�tiUl t,s�zj})s1 t{�;+ it{tt,.} ff (lE � r}x fS's�ij�h�y� t r )r t ;t si fit r�9 v tt+ME,`} \ : Vl Ir 1 s r ii) i}l a t , 1 137r 11�t ,vr;S rt t � r Ile i1 `=,1'r jrr: t s l• icy ' SUiil,tt�jl ri tis}sst tt{� j/{` v •-;fry 1�rr,; is....(> t t+11Si,A _--- "SEPARATOR PAGE" CONTINUE TO NEXT COMMENT Nicklien, Bonnie From: Simon, Michael Sent: Tuesday, September 08, 2020 9:39 AM To: Shutt, Thuy; Utterback,Theresa; Nicklien, Bonnie Subject: FW: 115 N Federal Hwy project Attachments: satellite parking pic--edit--marked up--152jpg For our 115 N. Fed. Hwy. Public Comment Attachment, please see the email below and attached image. Michael Sin-,ion,n, FR A-R A, CP3P, EI E3 Executive Director Boynton Beach Con'imiunit I ede °elr:pn—,ient Agency 100 E. Ocean Ave. Boynton Beach, Florida 33435 561-600-9091 lax, 561-737-3258 nn j Sin-,ionM@bbfl.us http://www.boyntonbeachcra.com El 91 BOYN T /SII/�� ,C R America's Gateway to the Gulfstream Please be advised that Florida has a goad public records law and all correspondence to mie via enIail n-,Iay be subject to disclosure.Under, Florida records law, en-,,ail addresses are public records.Therefore, your,e-n-,,ail on-imiuni ation and your,e-niail address n-,iay be subject to public disclosure. From: Susan Oyer<susanoyer@gmail.com> Sent: Sunday, September 6, 2020 5:26 PM To: Grant, Steven<GrantS@bbfl.us>; Penserga, Ty <PensergaT@bbfl.us>; Hay, Woodrow L. <HayW@bbfl.us>; Katz, Justin <KatzJr@bbfl.us>; Romelus, Christina<RomelusC@bbfl.us>; LaVerriere, Lori <LaVerriereL@bbfl.us>; Simon, Michael <SimonM@bbfl.us> Cc: Kim Kelly <kimalley529@ comcast.net>; Kim Kelly <harleycabo@gmail.com> Subject: 115 N Federal Hwy project Dear Mayor,Vice Mayor, Commissioners, City Manager, and CRA Director: 1 I am writing to you all today to encourage you to NOT approve the project for the 115 N Federal Hwy/church property you received in August by Bill Morris and his partners. As a longtime resident of Boynton Beach, and taxpayer, I encourage you to listen to the people and build a project we can all be proud of, that will match the character of our city, and will incorporate its surrounding neighbors. We have an amazing city that sits closer to the Gulftstream than any other city in North America; we have insanely great fishing; we have our share of The Everglades; we have affordable shopping in our all and designer shopping a short drive away in Palm Beach and Boca Raton; we have "location, location, location" being the midpoint between West Palm Beach and Boca Raton; we offer our residents more family-friendly and fun events than any other city in our county; we are one of the oldest cities in the county with a unique history; and so much more. People want to live in our beautiful, historic city that sits next to the water. But we needs art growth! Below you will find not only my criticism of the project that was presented, but also suggestions to improve it and make it acceptable to the residents. Much of this was covered in my facebook posting to most of you in the last week. First, 8 stories--seriously?! I and the other residents of this city have repeatedly told you we do not want buildings taller than 4 stories in our city. I understand the need for nodes, but that doesn't mean I or other residents want the or feel that they are in keeping with the character of our city. The other residents that have repeatedly stood up and fought against unsightly, out of architectural character, non-compatible buildings should not be ignored either. Countless residents speaking to this on Facebook today, Sunday 9/6. Smart development means doing what is right, and a 4 story maximum is what is right. How does 8 stories with a modern look fit into the character of this part of the city? No compatibility with other buildings sitting on the blocks. The architecture doesn't complement existing mid-century or 192o's architecture. What is the plan for incorporating the surrounding buildings into this development so it looks cohesive? Second, parking! According to the study the commission received about 4 years ago, the downtown was about 1,200 spaces UNDER parked. Harry Woodworth's motto, "don't build it if you can't park it" should be at the forefront of all your decisions. The spaces this new project proposes doesn't touch the approximately 152 we are losing. I'm attaching my parking space count from 2 Sunday's ago. Remember, Hurricane Alley has approximately 50 staff(luckily any walk or get a ride to work), Oyer Insurance has approximately 25 employees, the offices at 533 E Ocean has a dozen employees with the 4 businesses, and there are 5 apartments with tenants. The 515-517 where Fashion Shoes used to be is currently being renovated back to its original 6 units with multiple tenants who will need parking for the employees. And all these businesses bring in customers, but none more than Hurricane Alley--easily one of the busiest restaurants in our city. Add on parking needs from Ace Hardware, Boardwalk Ice Cream, and the convenience store on Ocean and Federal during busy times. See the next point for my solution. Third, we need parking &purchased homes, we don't need more apartments. A study released in the last 2 or so years shows that Boynton Beach is over-saturated with apartments. We need homes that people can afford to buy, but realistically, this area would be best served with townhomes at full market value. I hope you saw my facebook post with the picture (attached) describing my ideas. A setback from my family's Ocean Avenue buildings; and compatible architecture with our buildings and Ace Hardware and the other peripheral buildings. My thoughts: build townhomes around the periphery of the project; in the middle, build a 4 story parking garage with amenities for the residents on top: pool, gym, sun deck, extensive plantings like City Palms buildings in WPB; residents and their guests would be able to park on the 4th floor, local businesses could park their employees on the 3rd &extra space on the 4th floor; and that would leave floors 1 & 2 of the parking garage to provide parking for the public. Parking problem solved to a large degree! On the 2 floors above the townhomes, add pocket balconies for trees on the parking garage as in the photo. Plan for living roofs 2 on the townho es as well as roof access for their owners so they can garden/have private gardens. Access to the parking garage can be at the NW and SW corners--facing the railroad tracks. We need more density and these townho es, plus other planned projects (that need to become smarter) will give the needed density. Yes, we need workforce/affordable housing, but not in the area where we can get top prices for luxury living spaces!!!! This idea helps with our needed urban tree canopy needs, makes downtown a unique architectural destination in our county, helps with the urban heat islands that have been created by the last 2 commissions/CRA commissions/Cboards with the concrete canyons being planned for US1/downtown, and would be visually stunning as "living art". Leave the alley behind my family's buildings so customers can still drive in to pick up take away orders from Ki (covi /parade is accommodation); remember 2 of the buildings are front and back access for over 6o years now; and put in a green space buffer for the townho es on this southern end. t Fourth, we need to leave space for the impending train station that is due in the next 20 years. Yes, we need to increase theamount of housing and office buildings in the area, but not at the expense of the station. Plan! Remember, you'll be able to add parking, offices, and more luxury townho es/condos someday on the Bank of America site and the "Villages" site. We really don't ever need more retail under residential, but the "Villages" can handle the needed 2-3 retail spaces (restaurants/convenience store) for the Tri-Coastal Link trains. No building up next to the railroad. Fifth, do not allow this developer to take our public park from us! This park belongs to the public, and should not be controlled by the developer. In any way. Let them adopt the park to pay for the cleaning/maintenance if they really want to help. We have too little greensace in our city; the study from several years ago showed our lack of greenspace is adversely impacting our property values. We need more greensace out of any incoming project. The park belongs to the residents-- not some random developer. Are you not learning anything from the Town Square debacle?! Keep the park in public hands. Park adoption is their option--not concerts or other loud projects that adversely impact those living adjacent. Sixth, the proposed project, at S stories, will involve lots of pounding the foundation. Months of pounding that adversely impacts the businesses for a couple block radius. It will damage my family's buildings, including our building that houses Hurricane ley--it is 95 years old and the oldest commercial building in Boynton Beach. My father's insurance sign on the east side is recognized in our city's historic preservation manuals as an example of historic signage. I can't tell you how many people have told me that my father's sign is their place marker for our city--they know they are in Boynton when they see it! The pounding will damage the Oyer a other surrounding . We don't need S stories and the damage caused by the pounding. Imagine trying to run your business/live in that 5 or so block radius with loud pounding and ground shaking for S+ hours a day formonths: things fall off bookshelves; doors don't fit in their frames anymore; glassware is damaged; you get foundation damage; your building or house gets wall cracks; you can't sleep properly which impacts your health; your pets are scared; and so on. What about sinkholes or saltwater intrusion caused by the foundation pounding for such a tall 3 S- project? Lp 'ad-, L__S,/_, _.j, r,,e,,,.-porJ e j._�s`rJk1,,_) esJ -c,,,.,.,j-vse..., p ... ......... .... .....:..........,.,...............................,...a L! ........... ......... ........ ................................. ................................ ......................................................... reixjtj any and all damage to my family's buildings will be Y, CY - Consider this notice that expected to be repaired by the city, CRA, and the developer back to the pre-construction condition--- I'm sure you are planning for this. I'm assuming there will be provisions for repair to all the local buildings and homes that will beimpacted if such a tall structure is built. 500 Ocean, at its reduced height, caused damage to the Hurricane Alley building from its foundation pounding. 8 stories will cause more damage. Even my reduced height suggestion, with a setback, will cause damage. AVhat plans are in place by the developer to mitigate damage to all the commercial buildings and homes in the area? The damage will possibly extend to Casa Costa and homes to the south west Plus 500 Ocean, Mariner Village, and all the buildings/homes/apartments to the south east. Seventh, and if not damage, definitely TONS of unhappy business owners taking a hit to their business from customers who don't want to endure the ground shaking and noise to visit these businesses. What about the economic impact--on top of/right after a hit by the pandemic? Who is compensating these businesses? Kim Kelly will take the biggest hit--she has back area dining--who wants construction dust in their food and beer? Mitigation???? Thank you, all of you, for taking the time to read this long email and for taking my insights into consideration as you move forward on this project. Suson Oyer 4 �» — t ; 1`S�i�� £ 41t�i��,,``f`��1�j11�4't}t}t��t�,t"�� 1j�t��ttt�r�t�` �'s`�� "' t , at •,Iii ��` _ t 't I` . + t - AIM nt M MY y�f , 3 ( f>sif 4 a E. , - + 1, }+ ty tt s -tys� V1'� c it "SEPARATOR PAGE" CONTINUE TO NEXT COMMENT Nicklien, Bonnie From: Simon Michael Sant Tuesday, September 0l2O2O3:S6PM To: NicNien' Bonnie Subec FW:There's More! Hi Bonnie: The email below can be added to the public comment attachment for the 11Sitem. Michael Simon, FRA-RA, CP3P, LRES Executive Director Boynton Beach CommunityRedeve|opmentAgency 1OOE. Ocean Ave. | Boynton Beach, Florida 33435 �- ��1-��-��1-�UO-�U�1 | �� ' SimonK4@bbf|.ua http://vvvvvv.boyntonbeachcra.com B:OYNTON Aw: i6ZEACK, 'R,A CCJ MUNHY America's Gateway tothe Gulfstream Please be advised that Florida has a broad public records law and all correspondence to mie via en-,Iail n-,Iay be subject to disclosure.Under, Florida records |ovv, email addresses are public records.Therefore, youre-moi| communication and youre-moi| address moy be subject to public disclosure. Fromm:VVoh|er, Pamela Sent:Tuesday, September 8, 20203:18PM To: Simon, Michae| <SimonM@bbf|.uo> Subject: FW:There's More! For your records below z Pan-iela Wohler, dn-,iinistrati °e Assistant City Manager's Office e - Mailing Address: P.O. Box 310 Boynton Beath, Florida 3425 PhysicalAddress: 100 E. Ocean Ave. I Boynton Beach, Florida 3435 kr, 561-742-6015 IJP Wt:rhlerF'@bbfl.us boynton-beach.org/ 1111�0 iI c?7';i 011 it E 93 9 13 CITY OF DOYNTON SFACi9 Please be advised that Florida has a goad public records law and all correspondence to n-ie via enIail n-,Iay be subject to disclosure.Under, Florida records law, en-sail addresses are public records.Therefore, your,e-n-iail on-in-mni ation ars your,e-n-iail address n-,iay be subject to public disclosure. From: Paul Kirchhoff<pirch @ bellso th.net> Sent:Tuesday, September 08, 2020 3:04 PM To: Grant, Steven <GrartSbbf!. s>; Hay, Woodrow L < ayWbbf!. s>; Penserga,Ty<PerseraTbbf!. s>; Romelus, Christina <Rome! sCbbfl. s>; Katz,Justin <KatzJrbbfl. s> Subject:There's More! I see the FEC has decided to deposit even MORE railroad ties in our downtown. IF AT ALL POSSIBLE, please include in the deal with the developers the certainty that this land can be reclaimed for city use, either by lease or sale. We now literally have a DUMP in the heart of our downtown, and it will never be truly developed unless something is done about it. If not possible (FEC may simply refuse to negotiate), this should not disqualify the deal, as the Van Arnem team are excellent developers and it is just the EXACT type of development we are looking for as a city, but please, PLEASE negotiate this because finally being rid of hideous junkyard would be a great asset to the city. Paul Kirchhoff 2 "SEPARATOR PAGE" CONTINUE TO NEXT COMMENT Nicklien, Bonnie From: Simon, Michael Sent: Tuesday, October 13, 2020 11:28 AM To: Nicklien, Bonnie Cc: Shutt,Thuy Subject: FW: parking downtown Attachments: satellite parking pic--edit--marked up--152jpg Hi Bonnie: Will you please keep this for next month's public comment log. Thank you. Michael Sin-,ion,n, ER A-R A, CP3P, EI E3 Executive Director Boynton Beach Con'imiunit I ede °elr:pn—,ient Agency 100 E. Ocean Ave. Boynton Beach, Florida 33435 561-600-9091 61-333-32 ata n : Sin-,ionM@bbfl.us http://www.boyntonbeachcra.com BOYNTo �t BEACH : America's Gateway to the Gulfstream Please be advised that Florida has a goad public records law and all correspondence to mie via enIail n-,Iay be subject to disclosure.Under, Florida records law, en-,,ail addresses are public records.Therefore, your,e-n-,,ail on-imiuni ation ars your,e-niail address n-,iay be subject to public disclosure. From: Susan Oyer<susanoyer@gmail.com> Sent: Tuesday, October 13, 2020 7:45 AM To: Grant, Steven<GrantS@bbfl.us>; Penserga, Ty <PensergaT@bbfl.us>; Hay, Woodrow L. <HayW@bbfl.us>; Katz, Justin <KatzJr@bbfl.us>; Romelus, Christina<RomelusC@bbfl.us>; Simon, Michael <SimonM@bbfl.us>; LaVerriere, Lori <LaVerriereL@bbfl.us> Cc: Kim Kelly <harleycabo@gmail.com> Subject: parking downtown i Dear all: As more discussions happen regarding the 115 N. Federal Hwy area, you will hear more "promises" on parking. The most recent offers up 120 public spaces I believe? I'm attaching the parking count I made about a month or so ago. I've marked up the map so you can see what spaces are where. Depending on how people park along the tracks, you get about 152 spaces in this immediate area. Note we've lost 10 spaces when the city remarked the spaces--I believe I've complained about that in the past. You may want to consider the on street parking being compact cars only like so many cities around the world have done. Then you can get more parking in. Plus, it sets the right tone in our forward- thinking, sustainable city. Let's not reward people for making poor car choices when they buy gas- guzzling, environment destroying massive vehicles that they just don't actually need. Let's reward people for making the right choices for our city, our planet. https:ZZwww.youtube.comZwatch?v=L113htfrgeO As we come into the new paradigm taking hold on the planet, will we be on the right side? Will we be leading? Will we be making the right choices for this increasingly over-populated planet? Feel free to let me know if my math is off. S roto Oyer 2 �» — t ; 1`S�i�� £ 41t�i��,,``f`��1�j11�4't}t}t��t�,t"�� 1j�t��ttt�r�t�` �'s`�� "' t , at •,Iii ��` _ t 't I` . + t - AIM nt M MY y�f , 3 ( f>sif 4 a E. , - + 1, }+ ty tt s -tys� V1'� c it "SEPARATOR PAGE" CONTINUE TO NEXT COMMENT BUCHANAN PAPTNERS November 2, 2020 Michael Simon Executive Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue Boynton Beach, FL 33435 Dear Michael: Thank you again for meeting with us and Davi Camalier on The Boynton Beach project. We look forward to working with you on that. I am writing to you concerning the CRA property at 115 N. Federal Highway, the site across the street from our project. I realize we have not been involved in the process involving that property up to this point. But we have looked at the proposed plan under the current submission for the site, and we feel that what is proposed is not best for that particular neighborhood nor for Boynton Beach in general. We feel Boynton Beach would benefit from a more walkable, pedestrian friendly development—one that would be lower scale, involve a mix of uses and create a focal point and gathering space for residents and visitors alike. The CRA site is perfect for that type of destination project. That block on Federal Highway, where the CRA site is located, already has a number of the types of users we are talking about. We think it would be beneficial to maintain those users and add more in a well-designed, plaza-like setting that creates gathering space, public amenities and easily accessed retail and restaurants. We also believe the CRA site is the best Iocation for a hotel. Being walkable to restaurants and retail, close to the marina and the Inter-Coastal and not far from the beach, the best chance for a good quality hotel would be in a mixed-use development on the CRA site. And lastly, the potential rail stop should be incorporated into the design in a significant way. A rail stop will bring riders, and the station should be integrated into the project in a visible and highly accessible manner. 9841 Washingtonian Boulevard,Suite 300.Gaithersburg,Maryland 20878.P.301.417.0510.F:301.417.1594.www.buchanapa3viers.c0111 i 1 is t Taken all together, the CRA site provides the opportunity to anchor downtown Boynton with a mix of destination uses. With public space and pedestrian walkability this type of development will draw people downtown and provide amenities for the surrounding projects. There are plenty of sites in Boynton Beach for mid and high.-rise residential. However, from what we have seen, this CRA site is the only one where a truly transformative development can take place. W ouldFbtalou about this further, and look forward to working with you. are Brian S. BPrincipal Buchanan cc: Commissioner Christina Romelus, District II Commissioner Woodrow L. Way, District II Commissioner Justin Katz, District Vice Mayor Ty Penserga, District IV Mayor Steven B. Grant, At-Large Davis Camalier BSB/jhc 9841 Washingtonian Boulevard,Suite 300.Gaithersburg,Maryland 20878.P: 301.417.0510.F:301.417.1594.www.buchanapartners.coni #: "SEPARATOR PAGE" CONTINUE TO NEXT COMMENT Nicklien, Bonnie From: Simon Michael Sant Thursday, November 12' 2O2O11:32AM To: NicNien' Bonnie; Shutt, Thuy Subect FW: Downtown development For the back-up to11Sbelow. Michael Simon, FRA-R/, CP3P, LRES Executive Director Boynton Beach CommunityRedeve|opmentAgency 1OOE. Ocean Ave. | Boynton Beach, Florida 33435 ��1-�UO-�U�1 | �� 561-737-3258 ' m�� SimonK4@bbf|.ua http://vvvvvv.boyntonbeachcra.com BOYNTONIA, BEACH CMMUNIff MWEELC AGENCIf America's Gateway tothe Gulfstream Please be advised that Florida has a broad public records law and all correspondence to mie via en-lail n-,Iay be subject to disclosure.Under, Florida records |ovv, email addresses are public records.Therefore, youre-moi| communication and youre-moi| address moy be subject to public disclosure. Fromm:VVoh|er, Pamela Sent:Thursday, November 12, 20209:44AM To: Simon, Michae| <SimonM@bbf|.uo> Subject: FW: Downtown development FYI below z r Pan-iela Wo filer, dn-,iinistrati °e Assistant City Manager's Office e Mailing Address, P.O. Box 310 Boynton Beach, Florida 33425 Physical Address, 100 E. Ocean Ave. I Boynton Beach, Florida 33435 561-742-6015 Wohler'P@bbfl.us U- r:r r� r:rr�- e 6�.r:rr' 13 CiV4EHIM H Please be advised that Florida has a broad public records law and all correspondence to n-ie via en--ail n-,Iay be subject to disclosure.Under, Florida records law, en-,sail addresses are public records.Ther'efor'e, your,e-n-iail on-in-wni ation ars your,e-n-iail address n-,iay be subject to public disclosure. From: Eleanor Essery<eleanoressermailxom> Sent:Tuesday, November 10, 2020 4:34 PM To: Grant, Steven <GrartSbbfl. s>; Penserga,Ty<PerseraTbbfl. s>; Hay, Woodrow L < ay�Wbbfl. s>; Katz, Justin <KatzJrbbfl. s>; Romelus, Christina <RomelsCbbfl. s> Subject: Downtown development I want my vote counted,I do not want to see yet another apartment complex going in the area. WE need hotel accommodations for when family visits. Tourists spend more money while on vacation than people who live here. THE CRA STATES THEY HAVE HAD NO INTEREST FROM ANYONE ON THE LOT BEHIND US EXCEPT FOR THE MIX USE APARTMENTS WHICH IS UNTRUE. A LETTER WAS WRITTEN BY A DEVELOPER JUST RECENTLY AND EMAILED TO ALL LEADERS AND THE CRA STATING THEY WOULD BE INTERESTED IN A HOTEL AND PUBLIC SPACES . THIS NEEDS TO BE ADDRESSED AND NOT SHOVED UNDER THE CARPET!! SPEAK OUT NOW AND LET YOUR VOICES BE HEARD!! THE CURRENT PROPOSAL WAS HIDDEN FROM NEARBY OWNERS AND THE COMMUNITY BY THE DEVELOPER THAT WANTS APARTMENTS SO IT COULD BE SLID THROUGH WITHOUT OPPOSITION AND I KNOW THIS IS TRUE BECAUSE HE TOLD ME!!! MORE SHADE THAN A CLOUDY DAY DURING A TROPICAL STORM!!! EMAIL YOUR LEADERS NOW THE VOTE IS AT 5:30.. We want more options not just the shady ones!!!!! 2 "SEPARATOR PAGE" CONTINUE TO NEXT COMMENT Nicklien, Bonnie From: Simon Michael Sant Thursday, November 12' 2O2O11:32AM To: NicNien' Bonnie; Shutt, Thuy Subect FW: Condos For the back-up to11Sbelow. Michael Simon, FRA-R/, CP3P, LRES Executive Director Boynton Beach CommunityRedeve|opmentAgency 1OOE. Ocean Ave. | Boynton Beach, Florida 33435 � ��1-��-��1-�UO-�U�1 | �� ' m�m SimonK4@bbf|.ua http://vvvvvv.boyntonbeachcra.com BEACKA% RA CO ALA. NRY RREEDERV IN' CY America's Gateway tothe Gulfstream Please be advised that Florida has a broad public records law and all correspondence to mie via en-lail n-,Iay be subject to disclosure.Under, Florida records |ovv, email addresses are public records.Therefore, youre-moi| communication and youre-moi| address moy be subject to public disclosure. Fromm:VVoh|er, Pamela Sent:Thursday, November 12, 20209:42AM To: Simon, Michae| <SimonM@bbf|.uo> Subject: FW: Condos Good Morning Mike, Pan-iela Wohler Adn-,iinistrative Assistant City Manager's Office e Mailing AddressP.O. Box 310 Boynton Beach, Florida 33425 Physical address: 100 F. Ocean Ave. I Boynton Beach, Florida 3435 r, 561-742-6015 IJP Wohler'P@bbfl.us boynton-beach.org/ 1111�0 iI c?7';i 011 it E 93 9 13 CITY OF DOYNTON SFACi9 Please be advised that Florida has a goad public records law and all correspondence to n-ie via enIail n-,Iay be subject to disclosure.Un er, Florida records law, en-,,ail addresses are public records.Therefore, your,e-n-iail on-in-mni a ion ars your,e-n-iail address n-,iay be subject to public disclosure. From:james kosluk<iaesk2 yaoo.co > Sent:Tuesday, November 10, 2020 5:27 PM To: Hay, Woodrow L. < ay fl.us> Subject: Please do not vote for condos Sent from Yahoo Mail for Wad 2 "SEPARATOR PAGE" CONTINUE TO NEXT COMMENT Nicklien, Bonnie From: Simon Michael Sant Thursday, November 12' 2O2O11:33AM To: NicNien' Bonnie; Shutt, Thuy Subect FW: N(] MORE Mix Use Apartments inBoynton Beach For the back-up to11Sbelow. Michael Simon, FRA-R/, CP3P, LRES Executive Director Boynton Beach CommunityRedeve|opmentAgency 1OOE. Ocean Ave. | Boynton Beach, Florida 33435 ��1-�UO-�U�1 | �� 561-737-3258 ' m�� SimonK4@bbf|.ua http://vvvvvv.boyntonbeachcra.com BOYNTONIA, BEACH CMMUNIff MWEELC AGENCY America's Gateway tothe Gulfstream Please be advised that Florida has a broad public records law and all correspondence to mie via en-lail n-,Iay be subject to disclosure.Under, Florida records |ovv, email addresses are public records.Therefore, youre-moi| communication and youre-moi| address moy be subject to public disclosure. Fromm:VVoh|er, Pamela Sent:Thursday, November 12, 202010:04AM To: Simon, Michae| <SimonM@bbf|.uo> Subject: FW: NOMORE Mix Use Apartments inBoynton Beach FYI below z Pan'iela Wohler, dniinistrati °e Assistant City Manager's Office e Flailing address: P.O. Box 310 Boynton Beach, Florida 3425 " Physical address: 100 E. Ocean Ave. I Boynton Beach, Florida 3435 r, 561-742-6015 Ifs Wohler`F'@bbfl.us boynton-beach.org/ 1111�0 iI c?7';i 011 it E 93 9 13 CITY OF DOYNTON SFACi9 Please be advised that Florida has a goad public records law and all correspondence to nie via enIail n-,Iay be subject to disclosure.Un er, Florida records law, en-,iail addresses are public records.Therefore, your,e-n-iail on-in-mni ation and your,e-mail address n-,iay be subject to public disclosure. -----Original Message----- From: Mary Chaundy< chauny yaoo.co > Sent:Tuesday, November 10, 2020 4:12 PM To: Grant, Steven <GrantS flus>; Penserga,Ty<PenseraT flus>; Hay lf.us; Katz,Justin <KatzJrfl.us>; Romelus, Christina < oelusC@bbfl.us> Cc: Mary Chaundy<mchaundy yaoo.co > Subject: NO MORE Mix Use Apartments in Boynton Beach Good Afternoon, Normally, I do not voice an opinion to my city leaders but today I am compelled to act.The City of Boynton Beach does not need any additional Mix Use Apartments in downtown Boynton Beach. A better use for this property off of Ocean Avenue, would be a hotel that would bring tourists into our city to enjoy all that it has to offer. I understand that another developer submitted a letter of interest to build a hotel at that location. Do not allow this letter to be hidden. STOP allowing the CRA to bury this letter so that the shady developer who wants to build the mix use apartments is awarded the bid. We do not need more apartments that will sit vacant in our city! I have been a resident of Boynton Beach for over 20 years and enjoy visiting the local shops and restaurants downtown. We need to attract more tourists to our beautiful city that will support the local businesses downtown to help them thrive. if this letter from this developer gets buried... it will only add additional support to the premise that all government officials are corrupt. Respectfully, Mary Chaundy 8290 Bermuda Sound Way Boynton Beach, FL 33436 Sent from my iPad 2 Public Input Survey for "Future" Redevelopment of BBCRA-Owned Property Q1 Would you like to see a future redevelopment project incorporate a mix of uses, such as (check all that apply): None of the above,'3 RestauranOMMEMEMEM Office Retail Rental, Apartmen t"t{�l� Condominiums 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ANSWER CHOICES RESPONSES None of the above 12.08% 61 Restaurant 78.02% 394 Office 38.61% 195 Retail 69.70% 352 Rental Apartments 15.05% 76 Condominiums 25.74% 130 Total Respondents: 505 1/ 11 Public Input Survey for "Future" Redevelopment of BBCRA-Owned Property Q2 Would you like to see a full-service grocery store or corporate headquarters incorporated into a future redevelopment project? Ansy,,,c.,red: 504 Sk'DDed: 3 Yes No 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ANSWER CHOICES RESPONSES Yes 53.37% 269 No 46.63% 235 TOTAL 504 2111 Public Input Survey for "Future" Redevelopment of BBCRA-Owned Property Q3 Would you like to see a hotel incorporated into a future redevelopment project? #��11�I��IIII91,1,111IIIII,��I�II�I�`�,,1,'�li��llllllllllll�� i��„��4�'�IIIIIII�IIII��IIII �', Yes No MEN= 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ANSWER CHOICES RESPONSES Yes 48.51% 245 No 51.49% 260 TOTAL 505 3/ 11 Public Input Survey for "Future" Redevelopment of BBCRA-Owned Property Q4 Would you like to see residential units built for a variety of income levels incorporated into a future redevelopment project? ,(.,,ed: 50 ed: 0 Yep No 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ANSWER CHOICES RESPONSES Yes 27.61% 140 No 72.39% 367 TOTAL 507 4/ 11 Public Input Survey for "Future" Redevelopment of BBCRA-Owned Property Q5 Would you like to see larger than required public open space(s) incorporated into the design of a future redevelopment project? AnS,,V,,,(.,red: 506 Sk'DDed: Yes �c��ltp��,ll,{I) yl ,,��`1,.,,z,s,��,1 III t1lil�li,��r,t�, ��l�,l ,�tl\11�, �11;� No 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ANSWER CHOICES RESPONSES Yes 79.64% 403 No 20.36% 103 TOTAL 506 5/ 11 Public Input Survey for "Future" Redevelopment of BBCRA-Owned Property Q6 Would you like to see more public parking spaces incorporated into a future redevelopment project? AnS,,V,,,(.,red: 505 Sk'DDed: 2 ��I�{�II � 4�`ll,!,,fI�l I III �l ,l 1,��1 �I{„�IIIIII Yes ll,��I))��,��I,}�Ill�rE�,�$}��\��11�t1 I ;�},\}.��,�l��IIIIIIII 1 r,�� 11I11� t No 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ANSWER CHOICES RESPONSES Yes 80.79% 408 No 19.21% 97 TOTAL 505 6/ 11 Public Input Survey for "Future" Redevelopment of BBCRA-Owned Property Q7 Would you support paying for parking during special events and high traffic times? �� IIIIII��II I� 1I III Yes No 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ANSWER CHOICES RESPONSES Yes 53.27% 269 No 46.73% 236 TOTAL 505 7/ 11 Public Input Survey for "Future" Redevelopment of BBCRA-Owned Property Q8 Would you like to see accommodations for mass transit, rail, or ride sharing amenities (such as bus stops, train, Uber, and bicycle) incorporated into a future redevelopment project?#r��l�� Yes No 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ANSWER CHOICES RESPONSES Yes 71.68% 362 No 28.32% 143 TOTAL 505 8/ 11 Public Input Survey for "Future" Redevelopment of BBCRA-Owned Property Q9 Are you a resident or business owner in Boynton Beach? AnS,,V,j,(.,red: 500 Sk'DDed: 7 Resident ��p��ll,{I) yl ,,,)�`l.,�z,fv��,1 �II�� Ilil�li,,�{r,,t�, ��l�,l ,�{l\�i, IIj+;��,��}{�,� I l��i�i��ll�{.��I�;rEt�,�$t t��11�at1 I, ;��,}.��I�{I��,��>�Ili II �1,�,sa� �s��11�1 Business Owner Both 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ANSWER CHOICES RESPONSES Resident 79.40% 397 Business Owner 4.80% 24 Both 15.80% 79 TOTAL 500 9/ 11 Public Input Survey for "Future" Redevelopment of BBCRA-Owned Property Q10 What is your zip code? ,(.,,ed: 506 ed: Boynton Beach Zip Codes 33435 =275 33426 = 76 33436 = 75 33437 = 39 Outside of Boynton Beach = 38 No Responses = 3 10/ 11 Public Input Survey for "Future" Redevelopment of BBCRA-Owned Property Q11 Please enter your email address if you would like to be added to the BBCRA email subscriber list to receive information about future redevelopment projects, programs, and events. A=iSyaa. e.92 kis:ss:s.:.aa. 215 ANSWER CHOICES RESPONSES Address 0.00% 0 Address 2 0.00% 0 City/Town 0.00% 0 Company 0.00% 0 Country 0.00% 0 Email Address 100.00% 292 Name 0.00% 0 Phone Number 0.00% 0 State/Province 0.00% 0 ZIP/Postal Code 0.00% 0 11 / 11 BOYNTO C D wimBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD M EETING OF: April 13, 2021 OLD BUSINESS AGENDAITEM: 15.F. SUBJECT: Discussions on Tax Increment Revenue Financing Agreements SUMMARY: At their February 9, 2021 meeting, the CRA Board requested that staff provide them with a breakdown of the past and present private development incentivized Tax Increment Revenue Funding Agreements (TIRFAs), formally known as Direct Incentive Funding Agreements (DI FAs) for discussion purposes at a future meeting. In order to assist with the discussion, the Board wanted to know the TIRFA funding year, associated development and developer/owner, reason for the TIRFA, term of the TI RFA, pre and post tax assessed values and the amounts of tax increment revenue generated for both the developer/owner and the CRA. CRA staff has provided the Board with the requested breakdown as Attachment 1. In summary, the Boynton Beach CRA has entered into a total of six (6) TI RFAs from Fiscal Year 2004-2005 through Fiscal Year 2017-2018. Each of the six (6) TI RFA incentivized developments addressed the goals and objectives of the CRA Redevelopment Plan and area of under performing commercial property or underutilized vacant parcels. With the exception of only one TI RFA, all of the intended approved projects have been completed and are receiving a share of the Tax Increment Revenue generated from the increased tax assessed value of the post development property taxes (see Attachments I I-I V). With the exception of only one TIRFA, all have had a revenue sharing term of ten (10) years. As shown in the Attachment, the total combined Pre-Development Property Tax Assessed Values of the five (5) completed projects was $8,382,532.00 and the Post-Development Property Tax Assessed Values of the five (5) completed projects was $248,217,454.00. The overall total tax increment revenue generated from the five projects during the period of the TIRFA below imposing the share formula is $20,156,656.00. As a result of their experience over the past 14 years of TIRFA creation, management, monitoring and closeout, CRA staff has found certain aspects of the agreements should be strongly considered when formulating the terms of these long term and financially impacting contracts such as but not limited to the following items: • Having the Developer clearly state and demonstrate the gap in the financial structure of the proposed project whether that be brought on by environmental, construction, or market factors. • Limiting the term or duration of the TI RFA to coincide with the total dollar amount of the financial gap as identified by the Developer. • Tightening the restrictions limiting the original Developer's ability to transfer or sell ownership of the Project during the term of the TI RFA without compensation being paid to the CRA as repayment of the tax increment revenue share received prior to the transfer or sale. • Tightening the restrictions limiting the original Developer's ability to transfer or sell ownership in the Project during the term of the TI RFA without compensation being paid to the CRA as repayment of the tax increment revenue share received prior to the transfer or sale AND a share in the equity proceeds of the Project at sale or transfer. • Having identified elements or obstacles raised by the Developer to the CRA that may qualify for tax increment sharing. FISCAL IMPACT: To be determined by the CRA Board. CRA P LAN/P ROJ ECT/P ROG RAM: Boynton Beach CRA Community Redevelopment Plan CRA BOARD OPTIONS: The CRA Board does not have a predetermined need for a motion or approval of any sort as a result of this item being presented or discussed. Any action taken or direction given is at the sole discretion of the CRA Board. ATTACHMENTS: Description D Attachment I -Tax Increment Revenue Funding Agreement Spreadsheet D Attachment II -Casa Costa Before and After Photo D Attachment III -Seabourn Cove Before and After Photo D Attachment IV -500 Ocean Before and After Photo Q 3 LL CO ti -O LL' -p N x N F ¢' ¢ d V rp+ N O lD N ti ap+ Ot Ol # � o � aE`+ m N m o N C d 3 Lr cs 4,, a m X a Lr 'n x y c : m m N O o m 3 y O O O O o oc� w e p' c6 m m a w c O m M E u � oc � a a o E u m 3O O O O O 3 O m O O O m : # d N a O m N a` a N a y o oc o 0 o y 0 a x O O OuO O O 9 N> va O O u > va M a N O O O Ol a N : N O a ao O O .-i O W a 3 1 O•'.N m: W W O O N G O. 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N N N N N N a - i-I o o a a V — V m L' E s o m E a E a ^ O v c m m o N `o m o m z m aai a s c a a u s N N O D r Casa Costa Before v, f I f F - - - � k S rlkgrd�I�I � �4F�§k r,tF, CJs is i �iill��aryltfiS��i � S xI - I ti�IstUi 1 ,t`S s t� I � l Casa Costa After m � � Iy 1 r 9 s O - It ' ; P IFI, It m qwpp l$ VII all 14 44 It jq M lip low gyI" F y ( M �*A _ ;• I p i pit Casa Costa Before v, f I f F - - - � k S rlkgrd�I�I � �4F�§k r,tF, CJs is i �iill��aryltfiS��i � S xI - I ti�IstUi 1 ,t`S s t� I � l Casa Costa After m � � Iy 1 r 9 s O - It ' ; P IFI, It m qwpp l$ VII all 14 44 It jq M lip low gyI" F y ( M �*A _ ;• I p i pit 500 Ocean Before r r t ) 7D. t5 � 500 Ocean After �lth ; i - �hw Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2021 Ms. Coppin reviewed the activities planned, which included the Rock the Marina, the Lionfish Derby, Rock the Plaza, Rock the Block and a new Boynton Beach Night Market. The CRA does not host business promotional events in the summer due to rain, so the events are rain or shine. Chair Grant asked if staff could purchase rain insurance. The way the contract is written is the CRA is protected against cancellation. Chair Grant supported the events and requested Rock the Block be held sooner than later. Ms. Coppin commented staff needed more than a month, but may be able to hold it in June. There is a Rock the Plaza scheduled for June 18th or 19th, which they could push outward. Chair Grant wanted to hold it June 25th or the 26th. The Lionfish Derby is in June. Vice Chair Penserga asked about the plan for the night market as there are businesses down the street. Ms. Coppin explained they have identified 53 vendor spaces at the amphitheater and they would invite businesses in and outside of the CRA area. She was working with John Durgan. Mr. Simon confirmed the funding was previously approved and a consensus was needed to start moving forward with these events. Then they would think about Pirates Fest for next year. C. Discussion and Consideration of Responses to a Request for Additional Information from Respondents of the RFP/RFQ for the Cottage District Infill Housing Redevelopment Project This item was heard earlier in the meeting. D. Discussion of Status of Purchase and Development Agreement with Ocean One Boynton, LLC for the Ocean One Project This item was heard earlier in the meeting. E. Discussion and Consideration of Letters of Intent for the CRA-owned Property located at 401-411 E. Boynton Beach Boulevard This item was heard earlier in the meeting. F. Discussions on Tax Increment Revenue Financing Agreements REVISED Mr. Simon explained the Board asked staff and legal about information on existing TIF agreements and Attorney Duhy put together a legal memo of items. Some items were discussed for the 115 and Ocean One items indirectly, but for future agreements, there is a large financial benefit as a result of all the projects done in association with the CRA Board's additional financing. He would like the Board to consider a clear statement of need, and a gap in the financial structure and how they arrived at the number and what is included in the agreement. He suggested when the money is repaid through the term of the agreement, if they reach that repayment or cost amount prior to the end of the term, the document expires so they would not be reimbursing the developer for taxes they are paying beyond the money they were paid. In some instances, the transfer and 20 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2021 sale of the properties needs to be strengthened and greater consideration should be given to include reimbursement to the CRA for the funds they provided up to that point and have the agreement terminate with the sale or transfer, especially if it involves any type of profit or additional value than what was originally established or lost. They do not want to keep paying for an item that was paid for in the sale of the property and then just be transferred to another entity that already paid for the building. Despite what developers say, if they sell a building for way more than they purchased it, they do not need CRA money and the CRA could be paid back. He thought there could be some type of equity benefit to the CRA which could be reused for the project or for a future project. The CRA should consider the particular goals the Board would want to incentivize. Not every project needs additional funding. If the Board can determine during the request for funding if the particular issue or project is an important issue and something that would qualify for the public's assistance, the benefit to the public would be more tax revenue for the City, County and CRA, but if they assist the developer and it has an overarching benefit to the public, it would be better to have some type of intent to let the developer know that a standard, mixed-use projects may not need funding. The Board needs to be diligent with what they are requesting assistance with. Board Member Hay asked when they have property that is developed and they pay a certain percentage and then they try and sell the entire project, if they could they have a policy that would make the remaining TIF payments to the developer null and void. Mr. Simon commented Item Four addressed that scenario. The CRA has wide discretion. Chair Grant asked if there was anything that would prohibit the CRA from making any sort of condition they want under Florida laws and learned the CRA's have wide discretion in the agreement to set forth specific requirements. As to the legal part of the memo, the one-page document can be used when the Board considers the next new project. It is meant to spark major issues that need attention and they could consider them case-by-case. Chair Grant liked the idea of requiring developers receive TIF because then the CRA can dictate what they want in the project. He noted for the Ocean Breeze East project, the funding they will receive this year, was not able to be put into the project, nor could they provide TIF to the Wells Landing project. He liked that they were able to require developers adhere to a CBA. Chair Grant was not worried about developers being profitable. Board Member Romelus noted developers are in the business to make money. She thought it was not a matter of penalizing them, rather if there is a necessity to provide money, the Board do so on their terms. Vice Chair Penserga did not think it was an either/or situation and he agreed the residents should receive community benefits. A developer would profit one way or another, but he questioned if a developer does receive CRA funding if it goes into their pocket or into the project. He supports the bullet points included in the agenda, but he wanted to ensure the money given goes towards finishing the project. He wants to track how the funds are being used. Chair Grant noted developers have not asked for TIF in the last five years. He thought if they want a project, they should give TIF so they have 21 Meeting Minutes Community Redevelopment Agency Board Boynton each, Florida April 13, 2021 ........... more control over what is in the project. They want to put TIF into the 115 N. Federal Highway project. Board Member Katz appreciated the or staff put into the report. He was skeptical when developers say they cannot it the property so they will need TIF or land. The problem is when the tax agreements generate more returns for the property owner or developer than the cost of anything the CRA asks them to do, they are getting money they claim they need to fill a gap, and they are profiting off of it. Then they sell it for $20M to $30M profit. If it was so profitable, why did they need taxpayer dollars or what did the CRA get. Often one cannot see anything different than what they may have built on their own, absent public funds. He thought some of the options were well thought out and the safeguards were good. If they sell for massive profits, they should pay some of it back to some degree. Chair Grant agreed. He noted the CRA gave away the land for Family Dollar, and then sold it sothey did not have to pay the short-term capital gains and the price of the land was their profit. If a developer will take money out of the project, the taxpayer should not pay. Board Member Katz noted the Board rakes people over the coals to get out of repaying $40K for affordable housing, but not from big developments. He thought funds that come back to the CRA should beer ark for a specific use and the CRA recycle the funds. G. Discussion and Consideration of Terms for an RFP/RFQ for the CRA Project Located at 115 N. Federal Highway This item was heard earlier in the meeting. 16. New Business A. Discussion and Consideration of a Purchase and Development Agreement for the Property Located at 508 E. Boynton each Boulevard This item was heard earlier in the meeting. B. Discussion and Consideration of a Purchase and Sale Agreement with Larann Land Investments, LLC for Two Vacant Lots at NE 10th Avenue Motion Vice Chair Penserga moved to approve. Board Member Hay seconded the motion. The motion passed unanimously. C. Discussion and Consideration of a Letter of Intent from Habitat for Humanity of out Palm each County, Inc. for the CRA Owned Property located at 545 NW 11th Avenue 22 ATTACHMENT"F" PROPOSED PROJECT FUNDING USES AND SOURCES INFORMATION Project Uses and Sources $ 8,765,000 Land Costs - $ 2,816,900 Soft Costs - $ 52,274,500 Construction Costs - $ 4,890,996 Carrying Cost/Financing Costs - _..._............. _. .............._........ ........._...._ $ 500,000 Marketing and Sales Costs - $ 2,739,617 Permit and Impact Fee Costs - $ 1,160,411 Developer Overhead and Profit - $ 73,147,424 Total Project Cost - Capital Stack Proposer/Developer Equity $ 18,944,969 - Outside Capital Investor Equity $ 0 - Mortgage or Financed Amount $ 43,888,454 - Amount of BBCRA contribution requested, if any $ 0 - Other funding as identified $ 10,314,000 - Funding Total $ 73,147,424 - Page 24 of 30 E vLL� 3~ m m« a C 9 9 a: W c U C V N a m m N c u; a � o a co 1 g m n N o .0 p M c V a P:fit QST,ey C 0. ti ti ti ti ti � C 4 N C J N Q N Y N O 9.4 4 N C c alw lw 1. 1. 1. a 5 a a ,r LIN Im a. e HI 0. ti ti � 3 = u =u =u = u =u =u =u ✓ u a Q E E s+ E E« E E« E E« E E« E E« E E« E E« a 3 a a a a a a a a t v t v t v t v t v t v t v C n n n n n n 9 v c c H o m � 3 in n ✓ v a 0 � v H m o p s v o E E v o v ° v Q Q E v E t E z „n v E o E ¢-O E m E m E `o ow '° '° o ° v m m � a c a a s v v r`v r vo ° v ° v c c o m m r n v � rc N v v E 91 c � F a c E c E c E m v > u m N T 0 0 0 0 0 .. N N N N N N N IN U o 0 0 0 0 0 0 0 m m c c E E N o"a o m m o s a s °a $ a Y s oz � � ABRAMSON & ASSOCIATES,Inc. Real Estate and Public-Private DevelopmentAdvisory Services MEMORANDUM TO: Thuy Shutt, Executive Director Boynton Beach Community Redevelopment Agency FROM: Barry Abramson SUBJECT: Evaluation of Proposals for 115 N. Federal Site Project DATE: November 22, 2021 This memorandum summarizes our evaluation of the proposals submitted in response to the CRA's RFP for the above-referenced site. The evaluation focuses on the financial effect to the CRA of the proposals. The analysis does not consider the conformance of the proposed projects with planning and zoning requirements such as density and parking sufficiency which are being evaluated by the CRA and City. The evaluation is based on the original proposals submitted October 19, 2021 and subsequent clarifications provided by the proposers considered to be consistent with original proposals. The evaluation only considers proposed alternatives that could be developed on property being offered by the CRA and private property on the RFP block for which the proposer has site control. The key findings of the evaluation are presented in matrix form to facilitate comparison. A brief summary of the financial effect of the alternative proposals is presented in the exhibit on the following page. This is followed by a two-page matrix presenting for each proposal a summary of the use program, the CRA property proposed to be used for the project, the key financial terms and their direct financial effect on the CRA, as well as other non-financial benefits and concerns. Financial effect compares proposed one-time revenues and costs' with annual revenues2 to the CRA which are presented in $20223 for an initial year of stabilized operation', likely to be approximately 2025 or 2026 and for a year ten years after that (i.e. approximately 2035 or 2036). Further changes in financial elements (as well as length of income restrictions on ' One-time revenues and costs are revenues and costs generally occurring at sale or during or shortly following the development period Z Annual revenues are anticipated to be repeated annually,generally increasing over time with market inflation/escalation s$2022 are constant dollars not considering inflation/escalation beyond 2022. (Note that, in the interest of simplicity,the analysis includes in the$2022 estimates some relatively small revenue components which are expressed in future inflated dollars) 4 Stabilized operation is property operation following initial lease-up in which property is operating at full occupancy less reasonable anticipated vacancy and credit loss 113 Chestnut Street/Newton,MA 02465 l tel:(617)965-4545 l fax:(617)965-5431/www.abramsonassoc.com workforce/affordable housing) play out in different ways in later years beyond the TIF district sunset but the annual snapshots of 2025/2026 and 2035/2036 are considered to capture the essential effect to the CRA of the alternative proposals in a readily comprehensible form. A second two-page matrix presents the tax increment analysis, the results of which are incorporated in the first two matrices, also expressed in annual revenues for an initial stabilized year and ten years later, in $2022 unless otherwise noted. Following the matrices are additional comments on the evaluation and proposals supplementing those contained above and in the matrices and the dollar amounts in the matrices should be understood in light of the various assumptions and comments presented in the text and footnotes to exhibits in this transmittal. Proposers One Time Net Annual Net Annual Affordability Net Initial Revenue to CRA Revenue to CRA # units, Cost (2025/2026) (2035/2036) #years $2022 $2022 Affiliated Development- -$13,314,000 $22,000 $22,000 118 units @ The Pierce 60-120%AMI (50%of total) for 15 years from closing E2L Real Estate Solutions- redacted $0 $0 26 units @ Banyan Hub 80-140%AMI (10% of total) for 20 years Hyperion Group - -$12,415,000 -$296,000 -$296,000 13 units @ One Ocean Way (West 100%AMI Block Only) (5% of total) for 20 years Related Urban Development Group - 63 units @ Gallery 80-100%AMI Option 1 (Market -$8,470,000 $576,000 $576,000 (30% of total) Rate/WFH Alternative) for perpetuity Option 2 (Affordable -$6,315,000 $366,000 $531,000 97 units @ Alternative) 40-100%AMI (46%of total) for perpetuity US Construction, Inc. — -$6,667,000 -$282,000 $481,000 (post 46 units @ Promenade at Boynton tax abatement) 60-120%AMI Beach (20% of total) for perpetuity 2 O O N N T Q N N N p p a x N F m O C o Ol N O (0 y n c N N ` O T U N �_E o N c -JT T ZO O J O a) O n 00O N N p T VCL N d O U ¢ N C N p U - O O o O m oD m XO y - _ V3 01 01 01 - a) W y a1 _ N O N a) n p_ p C C O m 00 0�1 KS N ¢ N Ol O. d a) C N N N N Cc V1 E Q RR E 0 ? 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N N coo ON O W M N N N O Ol O O N NO N M N O t) O O O N N OV3 H3 d � ^G LL N MO n H T N O x 9 N �O N M m a N N T LO) O N O N o m O + _ >� > O O O N 7 O d N 7 d m •� _ > Q > N Ol 0 O Q d N r d O lC w d o o_ c m �. II W N LL T o O N a P U - _ LL lBQz0 0 Q LLaE a Q o Ud aA Q3 ao M co ` o r � > o W U) d W E a -0 m m d 'o xS N o d E m �� a U E .o Q.c z � m Q E 0a o 0a 0o c = c LL fn V zz o ° aEL a > O a° > o oQz ° 0o 0o N O o o o_= 0_ o > > a Q 0F QO > ao The tax increment analysis applies consistent assessed value per unit (for residential), per room (for hotel), and per square foot (for commercial) to each proposal. These assumptions were based on conversations with representatives of the PBC property appraisers' office who are actively engaged in valuing multi-family and commercial properties in Palm Beach County and the consultant's analysis based on that input. A major take away from these conversations is that assessments, especially of multi-family properties, are due for a significant increase in 2022 reflecting the dramatic increase in rent and sales prices in the local market over the past year. Notably, while the assumption for assessed value per unit of market rate residential used in the evaluation is substantially higher than what would be indicated by current year assessments, it is more conservative than that indicated by the Palm Beach County appraiser. Where proposals call for the CRA to be directly impacted by parking revenues and operating expenses (the entire garage in the Affiliated and E2L proposals and the 150 public spaces in the Hyperion proposal), the evaluation assumes operation on a break-even basis (i.e. revenues only sufficient to cover operating expenses). This assumption, which is more conservative than that made by those proposers who provided estimates, is based on concern about the unproven demand for paid parking in the local market and the consultant's knowledge of operating expense estimates prepared by parking experts for comparably sized mixed public and private use garages in southeast Florida. This may be a conservative element in the analysis but seems reasonable in advance of a study by a parking consultant engaged by the CRA. The uncertainty of the parking economics is a particular concern with the E2L proposal and also an issue, to a lesser extent, with the Affiliated and Hyperion proposals (as Affiliated at least presents a parking lease for the residential spaces though revenues for other spaces are yet to be de6termined and Hyperion exposes the CRA only to the cost and operating economics of the 159 public spaces). Furthermore, input by the City's financial advisor indicated a higher estimate of bond debt service (cushioning for a potential increase in interest rates) than that assumed in E2L's proposal and that such a financing would very likely require a guaranty by the CRA and City, impacting debt capacity. This would likely be the case if the capital cost of parking proposed by Affiliated (or other capital costs of alternative proposals) were to be bond financed by the CRA. With regard to the net cash flow participation proposed by Related, while this potentially is a lucrative revenue stream, it is highly variable, subject to market fluctuations and project- specific issues. If the CRA were to accept this proposal, it would want to carefully negotiate issues such as limiting non-third party expenses to protect its participation. Proposer qualifications were evaluated by CRA staff. All of the proposers include entities with experience in developing the primary use components. We note that E2L's proposes a master development structure with a sub-developer(Eastwinds) with the expertise and financing capability for the primary private project (residential) and no developer on board for the later phase hotel. Such an arrangement can work but is less than optimal in comparison with the CRA negotiating a deal directly with a developer capable of developing and securing financing for all project components. 7 ASSUMPTIONS AND LIMITING CONDITIONS • Information provided by others for use in this analysis is believed to be reliable, but in no sense is guaranteed. All information concerning physical, market or cost data is from sources deemed reliable. No warranty or representation is made regarding the accuracy thereof, and is subject to errors, omissions, changes in price, rental, or other conditions. • The Consultant assumes no responsibility for legal matters nor for any hidden or unapparent conditions of the property, subsoils, structure or other matters which would materially affect the marketability, developability or value property. • The analysis assumes a continuation of current economic and real estate market conditions, without any substantial improvement or degradation of such economic or market conditions except as otherwise noted in the report. • Any forecasts of the effective demand for space are based upon the best available data concerning the market, but are projected under conditions of uncertainty. • Since any projected mathematical models are based on estimates and assumptions, which are inherently subject to uncertainty and variation depending upon evolving events, The Consultant does not represent them as results that will actually be achieved. • The report and analyses contained therein should not be regarded as constituting an appraisal or estimate of market value. • The analysis was undertaken to assist the client in evaluating and strategizing the potential transaction discussed in the report. It is not based on any other use, nor should it be applied for any other purpose. • Possession of this report or any copy or portion thereof does not carry with it the right of publication nor may the same be used for any other purpose by anyone without the previous written consent of the Consultant and, in any event, only in its entirety. • The Consultant shall not be responsible for any unauthorized excerpting or reference to this report. • The Consultant shall not be required to give testimony or to attend any governmental hearing regarding the subject matter of this report without agreement as to additional compensation and without sufficient notice to allow adequate preparation. g f t ( J 1 y n 1 P t 3,: F a \n i i{n f' • E U O C: +- o N C �3 OE rl rl N r � ' E U *k � � � C N O *k MO J „ (1)> N Ln 4O M (V6 N M Q U to m - O O of M (�6 M E EF � e, y` iiii - •in C rnrn LfIO a) O Ln 'a E E i m p 0ai E r y p0 ca .n m � � s Cr V a >- A-2 a) n3 a) O cr L O U C O +' a) pp in �O Q its u N Q ++ C L ++ a+ O L 41 O C fu U •L O U •C E O `� L C (6 O +� dA `� `-- LL fu C O L t •L o Q ;E Z3 4- E *' N C C O C 41 O 4 , O Q C C U >> O U m- 41 m C N a) (6 (6 >' LL) Ln ate+ _0 � a) CL N y_ E Q ++ ' a+ O M fu Q C , o (C6 a) - U C � O O O E to C m O Q N c C L � i .0 � C O O Q) +1 a) U Q 7 7 .V in U >• Q 41 C a) E ra 0 O m O O " c c Q ra fa v v, t w 41 c a) Q m E U ;x c � > � C: O Q L 'L E x a) o o E D u 41 n c t oI C: >to Q a) Q �_ c o a) — La) w C M O m C +1 Cr �, +, a) LL N sQ O LMUfa E .0 O U O L > + C ++ to o (U6 Q O E m ++ O � (o a) N C a) — 41 Q Q m � VI, w (6 41 CO 41 � m U a) fa vo 41 41 ni N a) w vI M m Q L t Q a) a) n3 t c c a) � t L a) -C 0 c C aci ` • c a aY' v a o o .� m v - N ',an o ' m ._ o D _ t c V a ,c a i O n 3 Y o w E D m o E •� a .� N c 0 0 ao N v E a y V c a p .c c w m m a tio > m n , c v p m2 D c o a m i v t �. t m a 0 m 0 Y o o c 3 ami v v v a 0 c c s Y o Q; a +a+ C a V '>O Y O C� O O O E i ° m o Y LL o LL n a n a 0_ o � � 0 - 0 E .m w V O N C >• 0 Y 7 V i L Y t Q v > A m x 3 3 0 .Q m o a M v o v a t °ca 0 m tia n a o "- v_ o s X Yo c 'n m 0 + 0 c vEi v m ami -o-0 ` c c *� C: o c c :o m o m 0 0 ,o = o v o c m V ,� a ° o f g m n . 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Y2 k_ �, s`Tst.,ri r �;Sllr -1)A��ij\ t,: ')�•� �.-! .-�1, � � - ( � �,� 'P4,S� +l,tS�11`i�� 1„I ;'++ t` ~jb d �j... y vti s tr r •s��(j(( ritisr}tilt itt J r;��,-- _ t� _ � .?� �s �-�- Y �,�� Mutt, �C r' �; �rrs�t r,� (,j r;is, - <�ffP:•,F,�i!lfs,,� } �,,r��aa��i,� rr�1 `r��,�r ++f P.t ��t ti� ; '-��° i rr J s i i ` tS t r r tit E rs 4„'sj4i t ,Pf c� t'11,jt�t sir S �4,jitt�t ryi IlrJr !u S r,i' : j`' t �� 33: ft(h{�tYti i '�is1 rr( } ty� �) t ��at1 HOO �jfllAi&J$i`11��d-man t�1 Rr�.r4�,` ��}digitNi`f },J2�2Y r w,�r��jGS`if�At�. ��{; ra Till j” 1 r COVER LETTER On behalf of Affiliated Development("Affiliated"), I am pleased to present this proposal and qualifications for what will be our company's fourth public-private partnership venture in Palm Beach County within the past three years. Our proposed project,The Pierce, is envisioned to serve as the anchor for the East Boynton Beach district("EBO"),which we believe will be South Florida's next urban hot spot.The Pierce contains an assortment of uses that combine to create continual activity and energy. The Pierce will contain multifamily,office,retail, restaurant and public uses along with a parking garage containing 150 public parking spaces. Affiliated has played a role in helping create some of South Florida's hippest and most dynamic neighborhoods,and we know that these communities are built block-by-block,with vision,collaboration and by enhancing the distinctive characteristics of a community versus changing the unique fabric that sets Boynton Beach apart from other South Florida cities. Our efforts began back in October 2020,and instead of submitting a project to the CRA at that time,we spent considerable effort meeting with residents,adjacent property owners,and business owners in an effort better understand the objectives and desires of the community so that we could put forth a project worthy of this exceptional city and its residents. A prime example of this is that we have finalized an exclusive Letter of Intent with Kim Kelley of Hurricane Alley raw bar and restaurant that incorporates a brand-new flagship restaurant into The Pierce and allows for Kim's local establishment to continue to serve Boynton Beach residents for the foreseeable future. Affiliated is also working with Oyer Macoviak&Associates to finalize an agreement that will relocate their insurance office into The Pierce and prominently displays their 100-year-old "Oyer Insurance"sign in their new space, remaining visible from the corner of Ocean Ave and Federal Hwy. In the spirit of inclusiveness,The Pierce will provide luxury housing opportunities for over 350 Boynton Beach residents at all income levels. Affiliated is South Florida's foremost leader in developing workforce housing, having completed hundreds of workforce housing units,which The Pierce will deliver. It is our belief is that healthy and dynamic environments are created when people from all backgrounds and income levels harmonize to form one community. The Pierce will house waiters,fire fighters,small business owners,government employees,teachers and young professionals starting their careers. These folks will all have disposable incomes,which we believe will have an overwhelmingly positive impact to nearby businesses and generate nearly$9 million in new local spending. Another major consideration that should set our proposal apart from the others is that we are the only proposer to be able to incorporate the"hard corner"Ocean Food Mart property,which after 10 months of negotiation we have an exclusive agreement to purchase. Federal Hwy and Ocean Ave are"Main&Main". Not only does this corner get the most visibility from vehicular and pedestrian passersby, but incorporating this corner presents a critical opportunity to connect all four corners from a continuity standpoint in order to create a cohesive district"EBO". Our project was given The Pierce name in order to pay homage to one of the City's pioneers,Charlie Pierce(aka the Barefoot Mailman),which acknowledges this area's rich history while pioneering a new path forward. Lastly,we have met with the Brightline executives to discuss The Pierce and have made special accommodations to ensure that The Pierce accounts for the eventuality of a model station on the FEC property adjacent to the subject property. Over 79%of our project's overall site area will be accessible by the public,and the overall pedestrian connectivity from the FEC property is one chief component to ensuring suitable pedestrian connectivity. I always make the assertion that development is a "team sport". Impactful projects cannot occur without the collaboration of best-in-class professionals dedicated to their craft. Everyone involved on this project has committed themselves exclusively to our team and we feel honored to be amongst the very best in the business. It is our privilege to be considered for this site and look forward to working with staff, leadership and the community to execute on this monumental project. Sincerely, Jeff Burns Co-Founder&CEO Affiliated Development wy Q J O LL. y LL- > QCC; V O U L C� JL Q `i �I I QUALIFICATION AND BACKGROUND QFDEVELOPER Affiliated Development("Affiliated") is a locally-based development company with offices in Broward and Palm Beach Counties. VVepride ourselves oncreating developments that make asocial impact imthe communities me invest in. Affiliated's core competency is Public-Private-Partnerships("PIPP"), and we've completed over a half billion dollars in PPP transactions over the past 15 years, including over$162 million in PPP development in Palm Beach County within the last 3 years, and built a reputation as one of the most well-respected companies in the industry. Further on in our proposal you will read testimonials from 9 of your peers(elected officials and CRA staff from nearby South Florida cities) attesting to their experience in dealing with our organization on similar projects. This success has resulted from hard work and following through on the commitments we made to our public partners, which make us uniquely qualified to work alongside CRA staff and City leadership to execute our plan. In 2019,Affiliated executed on one of the first Qualified Opportunity Zone("QOZ") investments in the State of Florida,which was in partnership with the Fort Lauderdale CRA and contained workforce housing. Affiliated successfully raised its own QOZ Fund and successfully navigated the complexities of the QOZ program during a time where program regulations were still unpublished. The Pierce(and subject Property)islocated within the QOZboundaries,which makes this experience relevant. In 2020,we had our closing on the$125M Affiliated Housing Impact Fund,which has afforded our organization with the discretionary capital necessary tomeet the financial obligations for our developments, The fund is comprised of local police,fire and general employee pension plans,which creates a unique alignment of interest between our investors and municipal partnerships. AffiUatedclosed ov3different large-scale loans (totaling over$10Umillion)during the global pandemic,atime where many others were struggling toobtain financing. Affiliated(and its principals) have executed onhundreds ufmillions ofdollars infinancing guarantees,and has the ability to obtai n large loans without the need for outside third parties. Our banking relationships span across multiple transactions and are with some of the largest financial institutions in the business. This proposal contains letters and references from a couple of our preferred lenders todemonstrate our ability toobtain financing. It is particularly imperative to note that our financial capabilities,qualifications and experience in public-private partnership development is that of the proposer(Affiliated)and not in the capacity of the proposers' role working for another firm(not the propn»er). Additionally,Affiliated has never sold a property before it was developed. This is especially important in public-private partnership transactions because the proposer was chosen based on the merits of the proposer,not another entity that the proposer sells or transfers its rights to. When dealing with - AffiUatedthe Boynton Beach CRA can rest assured knowing itwill bedealing with the same entity from start tu finish and for years tocome. Lastly, it is our belief that we are uniquely suited to carryout this project due to exclusive qualifications no other proposers possess,such as: (1) having the 101 N.Federal Hwy property,(2)our relationship with Bdght|ine,(3) our LOI with Hurricane Alley, (4)our commitment to finalize a lease with Oyer Macoviak&Associates, (5)discretionary capital, and(G) propose r-s9cdficPPP experience for this product tyl2e. We hope to demonstrate this further in this proposal and qualifications for The Pierce and thank you for your consideration. ere LSi BwrMor ' Co-Founder&CEO Affiliated Development ~ ATTACHMENT"C" PROP0SER(S) |NFONM/QIOPJ Name: Affiliated Development, LLC Street Address: 013NVV3rd Ave Ste 104 Mailing Address (if different\: N/A City, State, Zip: Fort Lauderdale, FL 33311 054-0�3-0733 N/A Email : FaxNo: Ernai| Address ofContact Person: Lexi Ounn. U]unn@Affi|iatedD*ve|opnnenLnnnm Jeff Burns, JBumns@Affi|iatcdDeve|opnoentoomn Ownership Status Is the company currently for sale or involved in any transaction to expand or to be acquired by another business entity? If yes, please explain The impact tmthe organization and management efforts. No Age ofOrganization—|ncontinuous business since: 4 Leadership List Corporate Officers, Principals, Partners or owners of your Organization with titles and addresses. If a publicly held company, list Chairman of the Board, CEO, and President: Jeffrey Burns, Co-Founder& CEO, 804 N Rio Vista Blvd, Fort Lauderdale, FL 33301* Nicholas Rojo, Co-Founder& President, 528 Greenway [}[ North Palm Beach, FL334O8 _ Federal Identification No.' 82-3300420 State nfIncorporation & Registration Nn.: Florida, L1708O227646 |fnot acorporation, explain your status: Page 20of3V w' Q' J L.L w (nL.X...'. m C/) LU 1 State of Florida Department of State I certify from the records of this office that AFFILIATED DEVELOPMENT, LLC is a limited liability company organized under the laws of the State of Florida, filed on November 2, 2017. The document number of this limited liability company is L17000227646. I further certify that said limited liability company has paid all fees due this office through December 31, 2021, that its most recent annual report was filed on March 25, 2021, and that its status is active. Given under my hand and the Great Seal of the State of Florida at Tallahassee, the Capital, this the Seventeenth day of August, 2021 Tracking Number: 2326125453CU To authenticate this certificate,visit the following site,enter this number,and then follow the instructions displayed. tt s://services.sunbiz.or /Filin s/CertificateOfStatus/CertificateAuthentication State of Florida Department of State I certify from the records of this office that BB QOZ, LLC is a limited liability company organized under the laws of the State of Florida, filed on November 13, 2020, effective November 9, 2020. The document number of this limited liability company is L20000360129. I further certify that said limited liability company has paid all fees due this office through December 31, 2021, that its most recent annual report was filed on March 23, 2021, and that its status is active. Given under my hand and the Great Seal of the State of Florida at Tallahassee, the Capital, this the Twenty-eighth day of September, 2021 Tracking Number: 6475308686CU To authenticate this certificate,visit the following site,enter this number,and then follow the instructions displayed. tt s://services.sunbiz.or /Filin s/CertificateOfStatus/CertificateAuthentication U-i Ll- > • co a s E a O O � .L ° -0:F a - c N O n 3O w a `D m o E •� a .Lj N E O n tia c4 a E a y V c a0 .c - a) mm a txov 0- v v n a o a N m m E E 'a > m ,n ,., c a Q m c -i5 v t � �. t m a p m p Y c s m Y b.0 Q; a +a+ C a V '>O Y O G�0 O O O 0 • O E i ° m o Y LL o LL n a n a n u � � 0 o f .m w V O N C >• O Y 7 V i L Y t Q v > N m x 3 3 0 .Q > m o a v p a t C: .� -p C N Ga Q a t N ti- . 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U s"lJ7i`. di 0 M 10 QJ u 0 0 �'„ate � � 0 C 0 � �4J "03 � cn sr dry. f sou -Ln E 0 Z C- 0 ' 0 v a r vw C ' In a � E12 u Co o3 C CL - m x04 as � •" 0 �! ° rn > 0 _ t 0 , r � 8 0 AAFFIL-1ATED LETTER OF INTENT On Behalf of Affiliated Development, we are pleased to extend this Letter of Intent (tris 1W') to lease commercial space in what will be a new development project located at the ~ rte (ss further defined Landlord. BB QOZ, LLC, a %rida limited liability company, is successors or assigns (an affiliated entity of AM t d Development, RFP/RPQ proposer) Tenant: CAFE BARiSTA. INC,, a Florida orpr ration, d/b/a Hurricane Alley Raw Bart Restaurant Site. Lots 6 and7, Block 1, "Subdivision of the Town of Boynton," as further defined in Exhibit ; and sli ancillary ry alleyways & rights of way should they be abandoned by the City of Boynton Beach RFPIRFO., Request for Proposals and Deveioper Qt.ialificafions for 11 lei Federal Highway infill Mixed-Use Redevelopment 'r j ct (RFP # 21-05), Issued July 23, 2021 by the Boynton Beach CRA Projects Landlord is submitting a proposal for the RFP/RFQ RFP/Fthat will be a mixed-use dev loprrient project with ars -story multifamily rental building, retail, restaurant and office spaces, induding a parking garage Building: Approximately 3,000square feet of first floor commercial reta it building located on the Site w'l i approximately 1,500 square fest of mezzanine space, s further defined in the attached building floor plan, which may be adjusted s required d un it the Landlord has received site plan approval from governing jurisdiction Property; Shall mean the Site and Building Use. Bar & Restaurant Base t $7,875 per monti , $94,500 per year Lease Type. lel' Initial Lease "'fern; 15 Years Renewal: One (1) 15-year E terrsron Option Rent In go 4 no/. every twn years, Purchase Option. Within 5 leans from the P ss ssIon Cate lure `Option Term")„ Tenant shall have the option to purchase the Property from Landlord for a 5,5O � capitalization rate, as determined by the calculation as stated herein (the .,Sale Price Calculation"), During the Option Term, Tenant shall notify Landlord in writing of mart electing to exercise the Purchase Option (the, ., ! NW 3rd Ave., Ste 104 r" rt Laked rdal , FL 3331'1 4954)953-6733 ATED b VE . R N "F-lurchase Option N trop"), The Purchases potion Notion shall include (a) the Sale Prion Caicul tion, (b)the intended date of closing (which must fall within the Option Term). and (a.) proof of financing, Salo Prion Calculation shall be determined by adding the look ahead 12 months in Baso Beat, starting with the intended closing date, divided by 5.50%, Sales Tux: Palm Beach County, currently at ' ,0% Possession ate. Upon the date Landlord provides Tarrant written notice the Demised Premises has achieved a TC (temporary certificate of occupancy) from the governing authority, or similar, Landlord will work in good faith with the CRA to take possession of the Site and start construction on the Building ahead of starting construction on the remaining Project so as to minimize the finieframe between demoii hinTenant's current business location and this Possession Date sof the new Building, , Rent Effective Date-, Possession Date Prepaid Rent. 2 Months, which shall be applied to first and Inst month rent Security Deposit. $15,000.00 Design:; T n nt shall work with Landlord dein team to design the Dernised Premises to accomrnodate the Use of the Tenant Cost of the design shall be borne by the Landlord, however, any changes to the design after building. permit issuance shall be borne by Tenant- The final design n mu t be approved by Landlord and shall be in accordance with the Landlord budgets, which will be provided to Tenant Timeframes shall be established by Landlord for Tenant to make design decisions, and parties will work in good faith to ensure a mutually acceptable design will be finalized given within the allotted tirnefr mes., Excess,ive design costs will be borne by Tenant. Landlord Work; Landlord shall deliver tl°o space to a vanilla shell condition, which shall mean that the space will have the follow i'ng: HVAC, concrete slab floor, ready-to-paint walls, electrical outlets, primary lighting (not decorative fixtures), plumbing stub-4n connections, bathroorns equipped with toilets and sinks, grosso trap, cooking ventilation, storefront windows and doors, standard sound proofing, exposed acrd painted ceiling, interior doorR , and any other code-required feature, The cost of Landlord Work shall be borne by the Landlord. Tenant Work, At the time all Landlord work has been completed, `tenant shall be responsible to build-ort any remaining construction (including the ro uir ornent for any ,Additions, pornnitting), Tonarit shall hire Landlord"s general contractor, or another qualified general contractor as approved b Landlord, to complete Tenant Work. Tenant shall be responsible for (but not limited to) the following improvements to the i erni ed Premises: paint, flooring (beyond concrete), file, specialty carpentry and woodwork (bar), decorative light fixtures, millwork, kitchen/bar equipment installation, low voltage, 'furniture installation, audio/visual, decorative fixtures, and all other p.; `4:3 NW 3rd t 104, Fort Lauderdale, r� ,��1 1 �� r � r�7 AAFFILIIATED work not provided by Landlord. Landlord shall provide Tenant with $200,000 allowance for ail Tenant Word:, which shall be drawn based on complete of Tenant 'Wrnr and after Landlord Work. Any Tenant Wort costing over$200,000 shall be the responsibility of the Conant, Building Signage: tenant shall work with Landlord sign company to design exterior Tenant signage, Landlord shall approval the final design for the exterior signage, The cost of the exterior buiIding signage shall be Norrie by the ` on rnt. Informatlow Tenant shall provide Tenant operating history, fin ncial statements and any° other documentation to the Landlord that is reasonably requests. Guaranty. All owners of the Tenant agree to a quaranty. Guaranty shall be lifted at the tirno cumulative rent ,payable to Landlord) exceeds the total amount of tllo Landlord Wort. Confidentiality'. Tenant n;rt ree that all information exchanged during negotiations or once this L l is complete, shall not be disclosed, disseminated, published, released or reproduced to any persien, corporate or individual, other than the officers, directors and legal consultants of the Tenant. Exclusivity-, From the date this L.Ol is fully executed, Tennant agrees to cease communication with any party interested in or participating in the F / F . In the avoidance of doubt, this moans that Tenant (and it's officers, affiliates, employees and consultants) shall not have any communication (written or verbal) relating to the Landlord, this 1-01 or the RFP/RFQ unless such communication n is approved by Landlord. Tenant agrees to publicly support the Project and Landlord in the FP/ F , and shall make all reasonable efforts to assist Landlord on being selected for the RFP/ F and obtaining all municipal approvals Tenant agrees (as business and in. personal capacity) rot to interfere with the RFPRFQ in a manner that could cause harm to the Landlord or rp�ioct, (signature page to foilo !j , Lauderdale, -6733 --"6m 3 �W 3rd Ave.,eve„ Sae �ot FL 3:3 nr ( so)9a AAFFILIATED rYrVL ' C) �x � -q1 Landlord nd Tenant shill work iro good faith to finalize a final lease agreement, consistent with the teras contained herein. Such lease, agreemend shail be finalized Within 90 days after the Landlord achieves site control for all properties necessary t accommodate the Development. This L l nd any blr ration herein shall be non-binding n subject to the execution and delivery of a mutually agreeable lease agreement, which exception to all exclusivity and c nfis errti liar provisions, Tenant Signature. Print Name', 4-1 ............. i itl l ntity Date: U l Landlord Acceptance: Printed P rue:Jett Burns gn tur . itWEntity; Manager, BFB QOZ, LLC Date; 613 NW 3T-d Ave., Ste 104, Fort L ud rrtaleFl-33 311 ( 54)953-6733 October 15, 2021 Mr. Jeff Burns Affiliated Development 613 NW 3 d Avenue, Ste 104 Fort Lauderdale, FL. 33311 RE: Expression of intent to lease approximately 2,600 square feet of office space at The Pierce, Boynton Beach mixed-use project Dear Mr. Burns: This letter is to express to you our intent on reaching an agreement with Affiliated Development to lease office space at your eventual development project,The Pierce. We are in receipt of your draft LOI and will be continuing our discussions with the objective of reaching a deal. As you know, our family has owned our insurance building and operated our business at the property for the past 100 years. With the sale of our building/property, we are now in a position where we need to identify a new home for Oyer Macoviak Insurance as we intend on keeping our business open and remaining in Boynton Beach. When we first met in 2020, we were impressed by your willingness to work with local businesses such as ours to integrate these businesses back into your project. Through Harvey, we are familiar with Affiliated Development and have gained a comfort level in your organization's ability to follow through on your promises. With that in mind, we look forward to continued dialog and wish you the best of luck in competing for the RFP. 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PARTIES AND PROPERTY., p LLC, a Florida limited liability company_ gi p, agrees to bray and � RARAJA'S �L INVESTMENTS, Inc.,a FloridaT_ ration 3 agrees to sell the Properly t. 4 t : dress: 101 . drlr Hwy, ntg ¢ Im Legal Descriptin: Seg 7 s and the folloWnq n6Property-AR 6�121Er cn l Erop,:rty owned by Siler and used t lv min connection with the ownershipron-of the �q t (all collectively referred to as the"PropeV on the teras and conditl rr set forth blurs 11 2. PURCHASE PRICE- °r Deposit held in escrow by: _ p -Morrison LLP _ $ 20�000.00 t ('EsGww Agent') (dmke em subjed to 14 EscrowAgent's address, 7900 Glades Rd., Boca Raton, FL Phone: 5617660011 16 (b)Additional deposit to be gads to Escrow Agent 1 thin u - days days,if left blank)after cornplation of Due Diligence Period or 17 E] Iain days after Effective Date is o ,~ ddttlorrl deposit to be made to Escrow Agent 19 wftin days(3 days,if M blank )after completion of Ones Diligence Period or See Addendum 20 within days after Effective Date 1 dTotal financing(see Paragraph __ 213 All deposits will be credited to the purchase price t closing, 24 Balance to close,.subject to adjustments and pro tions,to be paid i;95�,o{5q.0 25 via wire transfer. 0 For the purposes of this paragraph, 'c rrrpletlonn means the end of the Dire Diligence Period or upon delive4y of x Buyer's written notice f acceptability. 28 .TIME FOR ACCEPTANCE; EFFECTIVE DATE,COMPUTATION OF TIME: Unless this offer is signed by Seller 29 and oyer and an executed copy delivered to all parties on or beforeAddendum this offer 30 will be withdrawn and the deposit, If any,will be returned.The lige fo—ra—weptanceof any counter offer will b 3i 3 days from the date the counter offer is delivered. The-Effective Date'of this Contract is the date an which the 2 last one of the Sell.er and Buyer has signed or Initialed and deli sr d this offer or the final counter offer or 33 - see Addendum . Calendar days will be used when compuflngtime periods,except,time periods of 34 days or less.Time periods of 5 days or less will be computed without including Saturday,Sunday,or national legal 5 holidays.Any time period eroding on a Saturday, Sunday,or national legal holiday will extend until :tag p.m.of the next 36 business day. Time is of the essence In this Contract 7 4. CLOSING DATE AND LOCATION: 38 Closing ate; This transaction will be closed rare _ see Addendum (Closing Dates unless so specifically "ended by other provisionsf this ontr t. Th; Closing Date will prevail over all other time periods 40 in lig l eu f limited to,Financing and Due 131 rr� periods.In thevent insurance underwriting is suspended S Y4arjd err f acknowledge receipt of f thispage,which is page I Wages. CO-5 Rev 9#'r7 r rRealtoW I.w Form implicky 41 on Closing Date and Buyer is unable to obtain property ins uion ce, Buyer may postpone closing up to 5 days after 42 the insurance uride rwrifing suspension is Uteri. 44' 3 (b)Location, Closing will take place inCounty, Florldsa(If left blank,closing will take-Dface in the 44 county wthe here propel is located.) sing may be conducted by mail or electronic means, 45 5�THIRD PARTY FINANCING: 46 BUYER'S OBLIGATIM On or before_.days(6 days if left blank)after Effective Date, Buyer Mil apply for third 47 party financing in an amount not to exceed_%of the purchase price or with a fixed 48 interest rate not to exceed_% per year with an initial variable interest rate not to exceed—%,with points or 49 commitment or loan fees not to exceed0/ _ *of the principal amount, for a term of—years,and amortized W over—years,with additional terms as follows., 5'2 Buyer will timely provide any and all credit,emply ment, financial and other information reasonably required by any 53 lender. BuYer will use good faith and reasonable diligence to(i)obtain Loan Approval within_days(45 days if left 54 blank)ftDm Effective Date(Loan Approval Date),(11)safisfy terms and conditions of the Loan Approval,and(111)close r)a Me loan. Buyer will keep Seller and Broker fully informed about loan Wfication status and authorizes the mortgage 56 broker and lender to disclose all such infOrMation to Seller and Broker, Buyer will notify Seiler immediately upon 57 obldining financing or being rejected by a lender. CANCELLATION: If"er, after using good faith and reasonable 6a diligence,'falls to obtain Loan Approval by Loan Approval Date, Buyer may within days(3 days if left blank) deliver written notice to Seller stating Buyer efther waives this financing contingency or cancels this Contract. so If Buyer does neither,then Sellier may cancel this Contract by delivering written notice to Buyer at any time thereafter. 61 Unless this financing contingency has been waived, this Contract shall remain subject to the satisfaction,by closing,of s2 tho% has conditions of Loan Approval related to tile Property. DEPOSIT(S)(for PurPoses of Paragraph 5 only). If Buyer 63 used good faith and reasonable gence brad not obtain Loan Approval by Loan Approval Date and e,4 thereafter ether party elects to cance,I this Contract as set forth above or the lender falls or refuses to close on or 65 before ft Closing Date without fault on Buyers part, the Deposft(s)shall be retumed to Buyer, whereupon both W parties will be released frorn 8PI further obligations under this Contract, except for obligations stated herein as surviving 67 the termination of this Contract. If neither party ele, is to terminate Ws Con ct as set forth above or Buyer fails to use 0 tra 68 good faith or reasonable diligence as set forth above, Seller will be entitled to retain the DsPosit(s)if the transaction sq does not close. For purposes of this Contract,"Loan Approval'means a statement by the lender setting forth the terms 70 and conditions upon which the lender is willing to make a particular mortgage loan to a particular buyer.Neither a pre- '71 approval letter nor a pre quallfication letter shall be deemed a Loan Approval for purposes of this Contract, 72 6.TrrLE. Seller has the lega Iceacity to and will convey marketabW title to the Property by CX I statutory warranty 73 deed 11 special warranty d other free bort 5�p tto of liens asem ants and xe es for c 74 encurnbranCes of record or known to Sef— iWthe year of closing; covenants, 75 restrictions and public utility easements of record;existing zoning and govemmental regulations; and(list any other 76 matters to which title will be subject) 77 78 pr°r id d 4hare exi.StS at closing no Violation of the foregoing and none of them prevents Buyer's intended use of the 79 Property as_ mixed-use multifa 11 e!t and gra r m 4al spa _I 48vtlS t !�!E in rking T�n M2!!�Oo corn arc p 80 (a)Evidence of Title.The party who pays the premium for the title insurance policy vAll seled the closing agent 81 and pay for the title search and closing services.Seller will,at(check one E!sellees El Buys a 82 within days after Effective Date or at least days before losing e expense and g Date deliver to Buyer(check one see Adden (i)�a btk--insurance commitment by a f=lorid ;fc7ensed title insurer setting forth those MaIters to be discharged by Seller at or before Closing and,upon Buyer recording the deed,an ownees policy in the amount of the purchase price fOr fee simple title subject only to exceptions stated above. if Buyer is paying,for the evidence of title and 86 Seller has an owner's policy,SIter will deliver a COPY to Buyer within 16 days after Effective Date.[– (Ii.)an 87 _J 88 abstract,of title, prepared or brought current by an existing abstract f1m)or cerfiffed as correct by an existing ffnn. However,if such an abstract is not available to Seller, then a prior awner's title policy acceptab le to the proposed 89 insurer as a base for reissuance of coverage may be used.The prior policy win include copies of polio gun all ficy exceptions and an update in a fonnat acceptable to Buyer from the Policy effective date and certified to Buyer or I'Z Buyer L 11 1 and Seller acknowtedge reca�pt of a copy of fts Page,Whim is Page 2 of 8 Pagm 711- cc---; R�""9117 SeriaW:W5774400161-NT3156 CO-017 Fbflda Realbm� �.-'Form 11 Simplicity 91 Buyses closing agent together with copies of all doGuments recited in ft prior policy and in the update. If such 92 an abstract or prior policy is-not available to Sailer then(L)above will b s the evidence of title, 93 (b)Title Examination:Buyer will,v"thin 15 days from receipt of the evidence of title deliver written notice to Seller 9,4 of We defects. Title will be deemed acceptable to Buyer if(1)Buyer falls to deliver proper notice of defects or(2) iseeAddenduni uyer delivers proper written notice and Seller cures the defects within_days from receipt of the notice f.'Curative Period'). Sailer shall use good faith efforts to cure the defects. If the defects are cured within the 97 Curative Period,closing vAll occur on the latter of 10 days of receipt by Buyer of notice of such cud ng or the 98 scheduled Closing Date.Sailer may elect not to cure defects if Seller reasonably believes any defect cannot be 99 cured within the Curative Period. If the defects are not cured vVithin ft Curative Period, Buyer will have 10 days 100 from receipt of notice of Sell ses inatillfty to cure the defects to elect whether to tenninate this Contract or accept 101 ti lle subject to eAsting defects and close the tri nsaction%Mthout reduction in purchase price. 102 (c)Survey, (check applicable provisions below) 10,13 [x]Seller will,within_5 days from Effective Date,deliver to Buyer copies of prior surveys, 104. plans,specifications, Wrid—engin eedng documents, if any,and the following documents relevant to this ;05 transaction., 106 see Addendum 107 prepared for Sailer or in Seller's possession,which show all currently existing structures. In the event this i0a transaction does not dose,all documents provided by Seller will be returned to Seller within 10 days from the 1019 date this Contract is terminated. 110 9 Buyer will,at Ej- Sellees 9 Buyer's expense and within the time period allowed to deliver and examine III title evidence,obtain a current certffied survey of the Property from a registered surveyor. If the survey reveals 112 encroachments an the Property or that the improvements encroach on the lands of another,E] Buyer will 11-3 accept the Property with existing encroachme nts Z such encroachments will constWe atiffe defect to be 114 cured,within the Curative Period, 115 (d)Ingress and Egress: Seller warrants that the Property presently has ingress and egress- 116 7. PROPERTY CONDITION:Seller will deliver the Property to Buyer at the time agreed in its present"as is'condition, 117 ordinary wear and tear excepted,and will maintain the landscaping and grounds in a comparable condition. Seller 118 makes no warranties other than marketability of title. In the event that the condition of the Property has materially 119 changed siris e the expiration of the Due Diligence Period, Buyer may elect to terminate the Contract and receive a 120 refund of any and all deposits paid, plus interest,it applicable,or require Seiler to regi m the Property to the required 121 condition existing as of the end of Due Diligence period,the cost of which is not to exceed (1.5%of 122 the purchase price, if left blank).By accepting the Property"as is', Buyer waives all claims against Seller for any 123 defects in the Property, (Check(a)or(b)) 124 El (a)As Is, Buyer has inspected the Property or waives any right to inspect and accepts the Property in its"as is' 125 condition. 'Wd- --------'7 %ee A &endurn 126 (b)Due Diligence Period, Buyer will,at Buyees expense and within days from Effective Date("Due 127 Diligence Period"), determine whether the Property is suitable,in Buys sole and absolute discretion. During the 128 terrn of this Contract Buyer may conduct any tests, analyses, surveys and investigations Cinspectionsm)which 129 Buyer deems necess"to date ins to Buyees satisfaction the Propertys engineering, architectural, 130 environmental pry pertles,-zoning and zoning restrictions',flood zone designation and restrictions;subdivision 131 regulations;soil and grade, avallablIlly of access to public roads,water,and other utilities; consistency with local, 132 state and regional growth management and comprehensive land use plans; availability of permits,government 133 approvals and licenses',compliance with American with Disabilities Act;absence of asbestos, it and ground '4134 water contamination;and other inspections that Buyer deems appropriate. Buyer will deliver written notice to 135 Seller prior to the expiratim of the Due Diligence Period of Buyees determination of whether or not the,Property 136 is acceptable. Buyers failure to comply with this notice requirement wil I constitute acceptance of the Property in 137 its present"as is'condition.Seller grants to Buyer, its agents, contractors and assigns,the right to enter the 138 Property at any time during the to of this Contract for the purpose of conducting Inspections, upon reasonable 4.39 notice, at a mutually agreed uon fime;provided, however,that Buyer, its agents,contractors and assigns enter 140 the Prop"and conduct Inspections at their own risk. Buyer will indemnify and hold Sailer harmless from 141 losses,damages,costs, claims and expenses of any nature,including attorneys'fees at all levels,and from 142 liability to any person, arising from the conduct of any and all inspections or any work authorized by Buyer. Buyer 143 Will not engage in any activity that could result in a mechanic's lien being filed against the Property Without 144 saileesPrIbr wfiften consent. In the event this transaction does not close, (1)Buyer will repair all damages to the and Seftr acknolMedge Axeipt of a copy of this page,whidi is Page 3 of 8 Page& Buy, f)C 9117 Form SimpNcity 145 Property resulting from the Inspections and return the Property to the condition it was in prier to conduct f the 146 Inspections,and( )Buyer will,atBuyer's expense release to Seller all reports and other work generated as. 14 result of ft Inspections. Should Buyer d Wer timely notice that the Properly is not acceptable, Seller agrees that: 148 Buyees deposit will be immediately returned to Buyer and the Contract terminated. 149 ( t alk-through Inspection. Buyer may,ort thee day prior to closing or any other time nnAually agreeable to the 150 parties„ conduct a final -throu9V inspecUon of the Propel to determine compliance with this paragraph and 151 to ensure that all Property is on the premises, 152 S. OPERATION PROPERTY DURINGPERIOD., Seller will continue operate the Property acrd r�ny r busin ss c nd ed o the Property in the manner operated prior to Contract and will tale no action that world 154 adversely impact the Propel after closing,as to tenants, lenders or business,if any,Any changes,such as renting 155 vacant space,that materially affect the Droperty or Buyer's intended use of the Property will.be pe fitted g only with tss Buyer's consentwithout dry yes consent. 157 �CLOSING PROCEDURE, Unless otherwise agreed or stated herein, closing procedure shall be in accordance with 158 the norms where the Propel is located. 159 ( Possession and Occupancy,Seller will deliver possession and occupancy of the Propel to Buyer at ISO closing,Seller will provide keys°rewrote controls,and any securit-1ss codes necessary to operate all locks, 11 mailbox P „and security systems, t ( a Buyer YAH payBuyer's attorneys,fees,taxes and recording fees on notes, mortgages and financing °rss statements and r rdlrag fees for the deed, Seller vAII pay Sellses attorneys,fees,taxes on the deed and recording fees for documents needed to cum title def ss if Seller Is obligated to discharge any encumbrance t or 16prior to closing and fails to do so„ Buyer may use purchase proceeds to satisfythe encumbrances. 16 ( Documents: Seller will provide the deed;hill of sale; rn chanic„s lieu affidavit-, originals of those assignable 167 service and maintenance contracts that will be assumed by Buyer atter the Closing Date and lefters to each ISO service contractor torn Seller advising each of thein of the sale of the Property and, if applicable,the transfer of its 169 contract, and any assignable warranties or guarantees recelved or held by Seller from any manufacturer, 170 contractor,subcontractor,or material supplier in connection with ther l current piss of the condominium 171 documents,if applicable,assignments of leases, updated rent roll,tenant at, lender estoppels letters(If 172 applicable);tenant subordination, n n-disturb n and attornment agreements(SND required by the Buyer or 173 Dryer's leader,assignments of permits and lice ns -, corrective Instruments;and letters notifying tenants of the 174 change in ownership/rental aqent. If any tenant refuses to execute an estoppels letter, Seller, if requested by the 175 Buyerin writing,will certify that information regarding the tenant's lease is corrects If Seller is an entity, Seller will °yrs deliver a r sOlration of its governing authority authorizing the sale and delivery of the deed and certification by the 177 appropriate party certifying the resoi tion and setting forth facts showing the conveyance conforms to the 178 requirements of local law.Seller will transfer s rit deposits to Buyer, Buyar will provide the closing statement, t mortgages and notes,security agreements, and financing statements. 160 ( Taxes and rorations: Real estate t e-s„ pens n l property es on any tangible,personal prop , bond 181 payments assumed by Buyer, interest„ rents(based on actual collected rents),association dues,insurance 182 premiums acceptable to Buyer,and operating expenses will be prorated through the day before closing... if the 183 amount of taxes for the current year cannot be ascertained, rates for the previous year wilI be used with dire 184 allowance being made for improvements and exemptions.Any tax proration based on an estimate will,at request 185 of either paw, be readjusted upon receipt of caret year's tax bill,this provision will survive closing. is (e) Special AssessmentLions: Certified, confirmed,and ratified Special assessment liens as of the Closing Date 187 will be paid by Seller, If a certified,confirmed, and ratify special assessment is payable in installments, Seller Y411 IN pay all installments dire and payable on or before the Closing Date,with any installment for any period extending 189 beyond the Closing Date,prorated,and Buyer will assume all installments that become due and payable after the 19Closing Date. Ewyer v011 be responsible for all assessments of any kind which become due and owing iffier Closing 191 Date, unless ars improvement is substantially completed as of Closing Date. If an improvement is substantially 192 completed as of the Closing Date bort has not resu t in a lieu before closing,Seller It pay the amount of the last 193 estimate Of the assessment This subsection applies to special assessment liens imposed by a public body and 194 does not apply to condominium association special rise rents. 195 M Foreign Investment in Real Property Tax Act( I p ” )n If Seller is a'foreign parson'as dented by FIRPTA, 19Seller and er agree to comply vVith Secfion 1445 of the internal Revenue Code. Seller and Buyer will asp corr and liver as directed any Instrument,affidavit,or statement reasonably neo ss ry to comply ande r r } a edge apt of a copy of t1is pages which i Page 4 or Popp. Rm W17 €orm Simplicity with the FIRPTA requirements, i l ding dsiiv f their respective federal taxpayer identification numbers or, Social Security mb rrs to the closing agent, If Buyer does not pay sufficient cash at closing to meet the 00 withholding requirement,Seller ill deliver to Buyer at closing the additional cash nemsessari to satisfy the 2DI requirement. 202 10.ESQ .Seller and Buyer authorize Escrow Aged or Closing Agent(collectively' ")to receive, 203 ds sit,and hold funds and other property in escrow and,subject to Collection,disburse them in accordance with the 204 teras of this Contract.The parties agree that Agent will not be liable to any person for misdelivery of escrowed items t 205 Seller or Buyer,armless ft misdelivery is due to AgenfsX I i breach of this Contract or gross negligence. if Agent 206 has doubt as to ant's duties r obligations under this Contract,Agent may, at Agent's option, )hold the escrowed 207 iters until the parties mutually agree to ft disbursement or until a court of competent jurisdiction or arbitrator 208 determines the rights of the parties or b)deposit the escrowed items with the of the court having jurisdiction over 209 the matter and file an action in interpleader. Upon notifying the parties of such ction,Agent will be released frog all 10 liability except for the duty to account for items previously delivered out of escrow. If Agent is s licensed real estate tt broker,Agent will comply with Chapter 475, Floridat tut s. to any wait in which Agent interpleads the escrowed items 212 or is made a party because of acting as Agent hereunder, Agent Will recover reasonable attorney's fess and costs 213 incurred,with these amounts to be paid from and out of the escrowed iterns and charged nd awarded as court costs 214 in for of the prevailing parity, its t ®CURE PERIOD. Prior to any clams for default being made,a party will have an opportunity to arra any alleged 216 default If a party fails to comply with any provision of this Contract,the other party will deliver written notice to the non- 217 cam,plying party specifying the non-compliance.The non-complying party will have days(6 days if left blank)after 21s delivery of such notice to cure the non-compliance. Notice and cure shall not apply to failure to close. 21 ; Buyer or Seller shall not be required to prf .rm any obligation under this Contract or be liable 220 to each other for damages so kang as performance or non-performance of the obligation, or the availability of services, 221 insurance, or required approvals essential to Closing, is disrupted,delayed, caused or prevented by Force Majeure. 2.22 "Force Moeurem,,means:hurricanes,floods, extrame,weather,earthquakes,firs, or other acts of God, unusual 223 transportation delays, or wars, insurrections, or acts of terrorism,which, by exercise of reasonable diligent effort, the 224 non-performing party is unable in whole or in part to prevent or overcome.All firne periods, including Closing Date,will 2.2-5 be extended a reasonable time app to 7 days after the Force Majeure no longer prevents performance under this M2 Contract,provided, however,if such Force Majeure continues to prevent performance under this Contract more ilei, 227 30 days beyond Closing Date,their either party may terminate this Contract by delivering written notice to the rather 228 and the Deposit shall be refunded to Btryer,theretry releasing er and Seller from aft further obligations under fie Contract. 13.RETURN OF DEPOSIT. Unless otherwise specified in the Contract, in the event any condition of this Contract is 230 not met and Buyer has timely,given any required notice regarding the condition having not been met, Buyer's deposit ill be rekirned in accordance i °a applicable Florida Laws and regulations, 232 14.DEFAULT: 233 ) In the event the sale is net closed due to any default of failure on the part at Seller other their failure to make 234 the title marketable after diligent effort, Buyer may elect to receive return rn f Buyersdeposit without thereby 236 waiving any actionford ages resulting from elles breach and may seep to recover such damages or seek las specific performance. If Buyer elects a deposit refund, Seller may be liable to Broker for the full amount of the 237 brokerage se 238 In the event the sale is not closed due to any default or failure on the part of Buyer,Seller may either(t 239 retain all deposit(s)paid or agreed to be paid by Buyer as agreed upon liquidated damages,consideration for the 240 execution of this Contract, and In full settlement of any claims, upon which this Contract will terminate or( )seek 241 specific performance. If Buyer falls to timely place a deposit as repaired by this Contract, Seiler may either t j 242 terminate the Contract and seek the remedy outlined in this subparagraph or(2)proceed with the Contract without 243 waiving any remedy for Buyees default. 244 15, FEES AND COSTS: In any claim or controversy arising out of or relating to this Contract,the 24,15 prevailing party,which for purposes of this provision will include Buyer, Seller and Broker,will be warded reasonable 246 raieys`fees,costs,and expenses. 247 16.NOTICES.All notices will be in writing and may be delivered by,nail,overnight courier, personal delivery,or 248 electronic means.Parties agree to send all notices to addresses specified o the signature page(s).Argy notice, document,or,ileus giver,by or delivered to an attorney or real estate licensee in l ding a transaction broker) 250 repres n lra ,°i party will be as effective ss if given by or delivered to that party. ,Y, y!) and Seller 1 C__acknGvAedge rempt of a copy of this page„which is,sage 5 of s pageso u f 02017 Flaiidarare Form €mpilcit 251 17.DISCLOSURES: 252 (a)Commercial Real Estate Sales Commission Lion Act The Florida Commercial Real Estate Sales 253 Commission Lien Act provides that a broker has a lien upon the ownees net proceeds from the sale of 254 commercial real estate,for any commission eamed by the broker under a brokerage agreement The lien upon the 255 owner's not proceeds is a lisp upon personal propel which afteches e wn es n pro ed grid draw not 256 to th 0 a et r ce s a o attach to any interest in real property.This lien right cannot be waived before the commission is earned, 257 (b) Special Assessment Lions frapossd by Public Body: The PrOPOdY May be subject to, unpaid special 258 BsSeSsrnetit fien(s) imposed by a public body. (A public body includes a Comrnun4 Development District.)Such 25-af liens, If any,shall be paid as set forth In Paragraph 9(e). 260 (c) Radon Gas: Radon is a naturally occurring radioactive gas hat, when It has accumulated in a bu ding n 261 11 1 g 1 sufficient quantities, may present health risks to Persons who are exposed to it mer time. Levels of radon that 262 exceed federal and state guidelines have been found in buildings in Florida.Additional Information regarding radon 263 and radon testing may be obtained from YoLW county public heaith unit, 264 (d) Eng fgy-Efficis ncy Rating Information: Buyer acknowledges receipt of the info tion brochure required by Section 553.996, Florida Statijtas. 266 18.RISK OF LOSS. 287 (a) If,after the Effective Date and before closing,te Property IS damaged by fire or other casualty, Seller will 268 bear the ftk of loss and Buyer may cancel this Contract without liability and the deperit(s)will be r8turned to 269 Buyer.Alternatively, Buyer VAH have the option of purchasing the Propert h ag a d up 270 Seller Will credit the dad Uctible, if any and transfer to Buyer at closing a a t 0 r 6 On purChase price and 271 ny insurance proceeds,or sellees cfaim to any in proceeds payable for the darnage.SGIler will cooperate with and assist Buyer in collecting any 272 such proceed& Seller shall not settle any insurance claim for damage caused by casualty Mthout the consent of 273 the Buyer. 274 W If, after the Effective,Date and before dosing,any part of the ProPerty k n n ndern . nor nd r taking will be pending or threatened, Buyer may cancel this 2175 right of eminent domain, or proceedings for such is ta 0 1 00 Patio u e the 276 Contract Writhout liability and the dap it( will be returned totuyer.Alternatively,Buyer will have the option of AR purchasing what is left of the Property at the agreed Upon Purchase price and Seller will transfer to the Buyer at 278 closing the proceeds of any award, or Selleft clairn to any award payable for the taking, Seller will cooperate 27q with and assist Buyer in collecting any suMh award. 280 19 ASSIGNABILITY;PERSONS BOUND: This Contract may be assigned to a related entity,and otherofte E]is not 281 assignable Z is assignable. If this Contract may be assigned,Buyer shall deliver 282 ttha copy of thG assignment a re m apt o e Seller at least 15 days Prior to Closing. The terms "Buyer,""Seller"and'Broker' g 0 a ves, sora and assigns(if 283 Contract is binding upon Buyerlir rd their , Seeaheirs,personal representaf May he singular or plural. 'This 284 assignment is permitted). 285 20.MISCELLANEOUS: The terms of this Contract constitute the entire agreement between Buyer nd Seller. 286 Modifications of this Contract will not be binding unless in writing, signed and delivered by the party a s referenced in this Contract, Dounte.Tarts and written modifications communicated 287 Signatures,inifials,document, to be bound, 288 electrordeally or on paper will be acceptable for all purposes, including delivery,and will be binding. Handv itten or act prevail over preprinted teans. If any Provision of this Contract 289 typewritten terms insetted in OF attached to this Contr' a 290 is Or becomes invalid or unenforceable, all remaining provisions will continue to be My effective.This Contract will be 291 construed under Florida law and will not be recorded in SnY Public records. 292 21.BROKERS. Neither Seller nor Buyer has used the services of, or for any other reason owes Compensation to,a 293 licensed real estate Broker other than., 294 (a)Bellew Broken 295 (G—Pany Name) (Licensee) Addrwz,Tehons,Fax pap) 296 W4110 is a SirGle a no nt El is a transaction broker 0 has brokerage relationship and wfi ho vWbe compensated by 297 El Saller 0 Bljye,r I both parties pursuaritto 0 a listing agreement[I other(sper4) 298 300 Jb)Buyers Broker. 3DI (Company Nam) (Licensee) �Addmss,Te�aphon-a,Fax,E-tnafl) U and SeHer C--j acknovAedge rec6pt of a Mpy of this page,which Is Flage 6 of a pmps, S."W,88577,A44 m-omln C2017 RaWa RaaPw-641 Form V Sirnplicity 307 who 0 is a single a nt[]is a transaction brokerE]has no brokera e relationship and who will be compensated by 303 Seller's Broker 1i Seller[:1 BuyerEl both parties pursuant to Nan MLS,offer of compensationE]other(spe*) 304 305 (collectively referred to as"Broker")in connection with any act relating to the Property,including but not limited to 306 inquiries, introductions, consultations,and negotiations resulting in this transaction. Seller and Buyer agree to 307 indemnify and hold Broker hess from and against losses,damages,costs and expenses of any kind,including 308 reasonable attorneys'fees.at all levels,and from liability tD any person,arising from(1)compensation claimed which Is we inconsistent With the representation in this Paragraph,(2)enforcement action to colfect a brokerage fee pursuant to 310 Paragraph 10, (3)any duty accepted by Broker at the request of Seiler or Buyer,which is beyond the scope of 311 services regulated by Chapter 475,Florida Statutes, as amended,or(4)recommendations of or services provided and 312 expenses incurred by any t party whom Broker refers, recommends,or retains for or on behalf of Seller or Buyer, 313 22. OPTIONAL CLAUSES., (Check if any of the following clauses are applicable and are attached as an addendum to 314 this Contract): 315 (A)Arbitration (E)Seller Warranty (1)Existing Mortgage 316 (B)Section 1031 Exchange (F)Coastal Construction Control UO(J)Buyer's Attorney Approval 317 (C)Property Inspection and Repair (G)Flood Area Hazard Zone [](K)Seller's Attorney Approval 318 (D)Seller Representations (H)Seiler Financing ther see Addendum 319 23.ADDITIONAL TERMS: 320 321 322 323 324. 325 327 328 329 330 331 332 333 334 335 3W 337 338 339 341 342 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT.IF NOT FULLY UNDERSTOOD,SEEK THE 343 ADVICE OF AN ATTORNEY PRIOR TO SIGNING. BROKER ADVISES BUYER AND SELLER TO VERIFY ALL 344 FACTS AND REPRESENTATIONS THAT ARE IMPORTANT TO THEM AND TO CONSULT AN APPROPRIATE 345 PROFESSIONAL FOR LEGAL ADVICE(FOR EXAMPLE,INTERPRETING CONTRACTS,DETERMINING THE 3" EFFECT OF LAWRANSACTI S ON THE PROPERTY AND TON,STATUS OF TITLE, FOREIGN INVESTOR 347 REPORTINGREQUIREMENTS,ETC.)AND FOR TITION,ENVIRONMENTAL AND OTHER Buyer ��C )and Seller CL Lj acknowledge receipt of a copy of this page,which is Page 7 of 8 Pages. CC-5 RevW17 =17 Florida Pgdtwvv -'Form simplicity 348 ADVICE. BUYER ACKNOWLEDGES THAT BROKER DOES NOT OCCUPY THE PROPERTY THAT ALL 349 REPRESENTATIONS(ORAL,WRI77EN OR OTHERWISE) LL ER 350 REPRESENTATIONS OR PUBLIC RECORDS UNLESS INDICATES L VERIFICATION 351 THE REPRESENTATION. Y TO RELYSOLELY LL , PROFESSIONAL INSPECTORS 352 GOVERNMENTAL AGENCIES FOR VERIFICATIONTHE T CONDITION, SQUARE FOOTAGE 353 FACTS THAT MATERIALLY AFFECT PROPERTY VALUE. 354 Each person signing this Contract on behalf of a party that is a business entity represents and warrants to the other 355 party that such signator has Bill power and authority to enter into and perform this Contract in accordance with its 358 terms and each person executing this Contract and other documents on behalf of such party has been duly authorized 357 to do 4.r a 358 - . Data Ignator of i= yr 359 _ , __ Ta: 9�Ido. p d r l rdflt d Nama Uye'r 3co Title: Manager 5� , ,_ Date ( ignatur of Bayer 362 _ .. .�__ ..._ _.,.,... Tai l No.:363 Ty or Print d Nampo of I yet. ltio° Telephone. 864 Buyer'sAddress for purpose of notion ...- ............... 365 Facsimile 3-6 gna r"e - S eller 7 a Tax ID (Typed y ro . rintod fa °f of liar ro , 868 Titin; Pk " _ Telephone: 5-?-;/ _ Z - -- _.__., (Signature of§'lien 370 �.., Tax lo.: ._.. d or Printed Barrio of Seller) __ 371 Title: , ......... Telephone.-- . 3372 Seller's Address for purpose of notice: 373 Facsimile: i=asilo. - Email, Florida REALTOW makes no representawn as to the legal validity or adequacy of any provision of this form in any specific tr-ar€saction,This standardized form should not be used in complex transactions or with extensive riders or additions.This form is available for use by the entire real estate industry and is not intended to iderifily the user as REALTOW,R 1LTOW,is a registered collective membership mark which may be used only by real estate licensees who are members of file NATIONAL ASSOCIATION OF REALTORS"'and who subscribe to its Code of Ethics_The copyright laves€f united States(17 U.S.Cede)fca tad the unauthorized reproduction.of this form by any means including faosiMUB or GOMPW067ad io€rrts. Buyer f t ;;( and seller f (_— acknowledge receipt of a copy€f this page,which is Page 8 of 8 Pages. CC-5 Rear 9117 Sarlal#: 6?i"TY 161 173ts6 42 17 Florida Reaitorsv .Fo rM ADDENDUM TO CONLYIERCIAL CONTRACT' THIS ADDENDUM TO COMMERCIALCONTRACT (the "Adderichnn") entered iritc,, this (IM/ of 2_10219 (the "Effective Date"), and et -,veen . "JA',S FATV-11LY by (4fie"''Seller")and BBQ0Z,L1,C,aF1orida HmItted liabi[43, company (the "'Buyer"). Seller and Buyer are hereby coilectively refet-red to as the "Pand "" and each., individually, a"Party." WITNESSETH: WHEREAS,simultaneously with the execution of this A.Adendum, Seller and Buyer are enterlDg into that cerfain Commercial Contract,with an effeefive date of 202 t (the"Contract"'. to3 - Lreeme�,nt) fior the sale of that certain reatogether with this Addendurni-, hereinafter collective1v he "A._1___ propeity located in Palm Beach County, Florida, as n-mire particularly described in the Contract and in this Addendurn.- and WHEMC AS, the Paities, are desirous of enterina into this Addendtan to further docurnent thpir a-reement with respect to tlhie sale and purefiase of the Property(as dof Iryetl helow), NOW THEREF'ORE, in consideration of iii premises and mutual, coveriants and premises h,ereinafter corittarned and the sum of Ten and Noll 00 Dollars ($10,00" and other good and valuable coil s;derafion, the -eceipt and sufficiency of which is hereby acknoxvledged, the Parties heret)-y aggree as I Recitals. Thefbreg�aing Recitals are True and correct and are incorporated herein as if repeated at length. Unless the context olhervvise requires, all initial capitalized terms used bm not defitned in tains,Addendum shall Iliave the meaning or meanings given to such terms in the Contract. This Addendum shall be deemerd a earl of but shall rake precedence o-verarid shall supersede any provisions to the contrar:�,,,- contai.-ned in the Contraer. All references in fids Addendum di al be deeixied to refer to, the Contract as fn,odifiied by this Addenchim. unless the coritext otherwise requires. 2, EroRer e With respect to the real prope-ny which is the sub ect of the Cerins of the Agre,ement..Seller represents thattlie legal dcscriptiori,of said real prose Ay and other information regarding such real propeny are, as set, foith on E.-Khib-it "'A-l" attached herein the hereinafter the Notwithstanding arry provision of the Contrac! or this Addendum to the consraiY�, the legal desciiption of the Property is subJect to revision arid update during Buyer's Due Diliggence Period to ensure itsaiccuracy, The Property shall inctude: (a) all rights and appuTtenances thereto-, includin- wig rights, title: and interests of Seiler in and to aciacent streets, alleys or riglits-of-way, deveiopment rights, use rights,miner rights, strips,gores,eascinents, priviieges,tights-of-wa-$r riparian and otter water rights,nghts lo lands underlying any aqjacent streets or roads, if any (such rights and appurtenances, are hcreinarftet collectively referred to ,as thi`g dii I i is and (b) all stnuctures. fixtures and ill-he" improvements afffixed to and/or located tipon the Propeityt if any (uhe preceding items in subparagraph (b) are, hereinafter Collectively referred to PtY�). "Elie Properrv, Appuftenances and It. provern n ., i as the "hnVP2Le1V_C n ets. f any, are hereinafter collectively referred to in the Agreemenftis the"PrOne-f-v " AL 3. Re i�oeO ts. The initiaJ deposit of Twenty, Thousand and 001"100 Dollars ($20,000,00) (tine "Initi d Del and the Additional Deposit(as defined herein)is hereinafter refierred to as the he Deposit shall be deposited with Kapp MotTison LLP("Escrow Agent"') vvithin two basin essdkys after the Effective Date, After the expiration of the Due Diligence Perikr-,d, if'Buyer has not tenninated this Addenduin tct Commercial Ganixact ?a_ge I of 12 I-M7100 Contract, the additional amount of Thirty Thousand and 001100 Dollars ($30,000,00) (the "Additional De O—Sit") shall be deposited with the Escrow Agent, 4. Closin . Notwithstanding any provision in the Contract to the,contrary,the provisions of this Section 4 shall supersede and control with respect to the terms of the Closing, 4.1 l tr,F I l . The closing of the transaction contemplated by the Agreement(the Closing") shall occur thirty (30) days after Buyer obtains the Required A'pprovals (hereinafter defined)(the"Closln" Date"), 4.2 Conditi �-Precedem: ,0 t( cif . The obligation of Buyer to consummate the transaction hereunder shall be subject to the "fulfillment on or before the Closing Date of all of the following conditions, any or all of which may be waived by Buyer in its sole discretion,provided such waiver is in writing: (a) All of the representations and warranties of Seller contained in the Agreement shall be true and correct in all material respects as of the Closing Date; (b) Seller shall have satisfied all Title Objections which Seller elected to cure, if any, and the Required Cure Items(hereinafter defined): (c) Seller shall have delivered to Buyer a Certificate of Compliance from the Florida Department of Revenue as provided for in Section 213.758(4)(a)].a, Florida Statutes; provided, however, actually receiving and delivering the Certificate of Compliance shall not be a requirement or condition precedent to any party's obligation to proceed with Closing pursuant to this Contract, but if the Certificate of Compliance is not obtained, Seller shall fndernni6,Buyer from any and all unpaid sales taxliabilities arising during Seller's period of ownership of the Property; (d) If required by Buyer's lender, Seller shall have delivered, in form and substance reasonably acceptable to Buyer and Buyer's lender,an estoppel certificate and a subordination, non-disturbance and attornment agreement from the tenant at the Property, dated not more than thirty(30)days prior to the Closing Date; Intentionally deleted-, Buyer shall have obtained the Required Approvals; and W Seller shall have performed and observed, in all material respects, all covenants and agreements of the Agreement to be performed and observed by Seller as of the Closing Date, If any condition precedent set forth in the foregoing Section 4.2 is not satisfied as of the Closing Date (or within the time frame specifically set forth in such clause), and Buyer elects, in Buyer's sole and absolute discretion, not to waive such condition precedent, then Buyer shall have the right to either: (i) to urate this Agreement by written notice to Seller, in which event the Deposit shall be right to Buyer and this Agreement shall be null and void and neither party shall have any further rights or obligations under this Agreement except those which expressly sur%,ive,termination; or(ii) extend the Closing Date until such condition precedent is satisfied. 5 'itle Insurance and Costs.N ot%N,ith standing any provision in the Contract to the contrary, the Parties agree to the following which shall supersede Section 6 of the Contract, 5J The Parties acknowledge and agree that Buyer shall pay the fee(s) for the title examination and the Title Commitment and the premium for the Title Policy and Buyer Shall desiiate the title company and the title agent for this transaction (Trill C m- 91 Upon Seller providing Buyer with a prior title policy with respect to the Property, Buyer shall Cause Title Addendum to Commercial Contract Page 2 of 12 17537100 Company to order a title insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as exceptions thereto ("Title Commitment"). Upon the recordation of the deed transferring the Property from Seller to Buyer, an owner's policy of title insurance in the amount of the Purchase Price, subject only to those exceptions set forth herein shall be issued to Buyer by Title Company (the "Title Folic;" , It shall be a condition to (Buyer's obligation to close that such, Title Policy be insurable at regular promulgated Florida rates by the Title Company of an ALTA 0%wicr's Policy of Title Insurance covering the Property, with such additional coverage and endorsements as Buyer may require the cost of which endorsements shall be paid by Buyer),in the full amount of the Purchase Price, including any simultaneous issue which Buyer may request. 5.2 If the Title Commitment reflects that title to the Property is subject to any exceptions that are objectionable to Buyer, in Buyer's sole and absolute discretion (the "Title Qb jpetiops"), then Buyer shall notify Seller in writing of the Title Objections to which Buyer objects at least fifteen (15) days prior to the expiration of the Due Diligence Period (the "Title Notice"). In the event Seller is unable or unwilling to eliminate all of the Title Objections, Seller shall notify-Buyer as to the specific Title Objections which Seller is unable or unwilling to remove in writing at least five (5) days prior to the expiration of the Due Diligence Period (the "Notice Period")(it being the understanding that the failure of the Seller to provide such a notice shall be deemed to be Seller's election not to eliminate or modify any of the Title Objections), and Buyer may either (i)terminate the Agreement by delivering written notice thereof to Seller and Escrow Agent, and in the event of such termination by Buyer, the Deposit shall promptly be returned to Buyer by Escrow Agent without further authorization by Seller as provided herein, or(ii) waive Buyer's objections to such title matters and in such event, such title matters (excluding any Required Cure Items, as defined below) shall be deemed Permitted Exceptions (it being the understanding that the failure of the Buyer to elect either(i)or(ii)shall be deemed to be its election of(ii)). If Buyer fails to deliver notice of the Title Objections within the applicable period required above, then it shall have waived its tight to object to same and shall proceed to Closing as hereinafter provided (subject to the other terms of the Agreement). Notwithstanding anything to the contrary in the Agreement, Seller shall be obligated at or prior to Closing to cause the satisfaction and/or release off- (A)the liens of any financing obtained by Seller which are secured by the Property, (B) monetary liens that arise by through or under Seller, (C) encumbrances voluntarily recorded by Seller or otherwise placed or permitted to be placed by Seller against tile Property on or following the Effective Date to the extent not consented to in writing by Buyer,(D) judgment liens, each caused by Seller, and (E) any other monetary liens that arise by through or under Seller(excluding those described in clauses(A)through (E)above) (with Seller having the right to apply the Purchase Price or a portion thereof for such purpose)(the"Req g'ired Cure'Items"). -' Seller shall have the obligation to satisfj7, release, or cure any such Title Objections which Seller elects to cure (in accordance with the above) and Required Cure Items at any time prior to or concurrently with Closing(as defined below)and with respect to any Title Objections which Seller (provided, if concurrently with Closing, as defined below, Title Company may issue the Owner's Policy with such Required Cure Items and Title Olt ections being satisfied at such time). Notwithstanding the foregoing, Seller shall not be required to commence litigation to cure the Required Cure Items. All costs and fees associated with satisfying, releasing or curing the Title Ob.ections which Seller elects to cure (in accordance with the above) and Required Cure Items shall be borne by the Seller. If Seller is obligated to discharge any Title Objections which Seller elects to cure(in accordance with the above)and Required Cure.Items prior to Closing(as defined below) and fails to, do so and/or does not make arrangement for such to be satisfied concurrently with Closing(as defined below), Buyer shall have the right, but not the obligation,to use Seller's proceeds from the P=hase Price to satisfy any such Title Objections and Seller hereby consents Addend tun to Commercial Contract Page 3 of 12 1753710 0 to such and directs Title Company to do so; if the proceeds frorn the Purchase Price are insufficient to satisfy, such Title Objections or if the Title Objections are not curable solely by the payment of money,without resorting to litigatiorL Buyer may terminate this Agreement in which event Escrow Agent shall promptly refund the Deposit to Buyer together with reimbursement for Buyers out of pocket costs incurred in connection with this transaction up to a maximum a-mount of$10€1,000, During the Due Diligence Period (as hereinafter defined), Buyer shall have the right at Buyer's sole cost and expense, to obtain a survey ("5u ev") of the property prepared by a land surveyor or engineer registered and licensed in the State of Florida. Any encroachment or defect shown on the Survey shall be treated in the same manner as set forth above. 6. At of lnsntction and Marketing of thep yo 6J BUILue itLencL q,Right& (a) Within five (5) business days of the Effective Date and on a continuing basis so long as the Agreement is in effect,'Seller shall deliver to Buyer the materials set forth on Exhibit "B" attached hereto to the extent in Seller's possession and control The Due Diligence Period,5 commence on the Effective Date and expire on that date that is one hundred en days after the Effective late (the 4'Due Iq Period"). During the Due Ili ___Wili—L �D gen cried, in addition to the rights set forth in Section 7(b) of the Contract, Buyer shall have the right to review Seller's Documents and communicate with any tenants of the Property. (b) Approvals. At Buyer's sole cost and expense, Seller hereby authorizes the Buyer to seek, pursue and secure all required site plan, zoning, land.use, financing approvals and CRA approval obtained by any municipalities and/or other authorities having jurisdiction over the Property, as applicable (hereinafter collectively the "Author and each an "Authoritv"), for Buyer's intended use of the Property, which shall include, but not be limited to the construction of a mixed use residential/multifamily rental apartment building which shall include ground floor commercial space and shall have adequate parking for such purposes (hereinafter collectively refer-red to as the "Prpect"), including, without limitation: (1)alleyway abandonment, (ii) utility relocation, i_ (iii) Florida Power&Light utility relocation, , (iv)zoning variances, (v)agency incentives or financing, including without limitation executed agreements with the City of Boynton Beach CRA; and (vi) all other approvals required to construct such Project (items (i) through(vi)above hereinafter referred to as the"ARpLovals"). For the avoidance of doubt, the definition of the term "Approvals"shall include all required site plan, zoning, land use and funding approvals required for the Project (the " "). Buyer shall pursue the Approvals using good faith and due diligence in the exercise of commercial reasonableness at all times during the to of this Agreement. Seiler agrees to cooperate with Buyer in seeking such Approvals and shall execute, without delay,provided they are non-binding and at no cost to Seller any and all documentation required and/or necessary associated with the Approvals,as well as to otherwise assist and cooperate with the Buyer in addressing any requirement in order to secure the Approvals; provided, however, Seller shall not be required to expend any monies in providing such cooperation. The date upon which all appeal periods related to Approvals receivedby Buyer have expired is considered to be the approval date for the applicable approval.,Notwithstanding anything to the contrary herein ' er has not obtained the Required Approvals by that date that is oe hundredeighty 180) ays after the expiration of the Due Diligence Period,and Buyer does not elect to wacl; ncondition precedent of obtaining the Required Approvals., then thereafter either Buyer or Seller shall have the right to terminate this Agreement by written notice to the other party, in which event the Deposit shall be immediately refunded to Addendum to Commercial Contract Page 4 of 12 17537100 Buyer, less the amount of Twenty-Five Thousand and No/100 Dollars ($25,000), which amount shall be paid to Seiler, 6.2 Marketinic of ProvenN. Seller agrees that upon execution of the A9 reement. Seller and its agents shall cease negotiation of the sale/purchase of the Property (or any portion thereof) with any cither existing or prospective buyers of the Property and shall not market the Property(or any portion thereof) for sale at any time during -the term of the Agreement. Additionally, Seller shall not disclose the existence of this Agreement,the terms and conditions of this Agreement,and the existence of the option to terminate the lease of the tenant at the Property(the"Tenant Lease"' ____ .I__ 1 7Seller's Rp:ars qntations and Warranties. Seller hereby makes the following representations and Warranties to Buyer as of theEffective Date,which such representations and warranties shall be deemed to have been made again as of the Closing: (a) Seller has been duly organized and validly exists under the laws of the State of Florida. The Agreement and the consummation of the transactions contemplated hereby have been duly authorized by all necessary parties on the part of Seller and the Agreement constitutes a legal, valid and binding obligation of Seller, enforceable against Seller in accordance with its terms, subject to applicable laws relating to bankruptcy, insolvency, moratorium, as well as other laws affecting creditors' rights and general equitable principles. The execution and delivery of the Agreement and the consummation of the transactions contemplated hereby do not and will not(i)violate or conflict with the organizational documents of Seller; (ii) breach the provisions of, or constitute a default under, any contract, agreement instrument or obligation to which Seller is a party or by which Seller bound; and (iii) require the consent or approval of any other third party or governmenW agency. The party executing the Agreement on behalf of Seller is authorized by the organizational documents of Seller to enter into the Agreement and bind the Seller to the terms hereof. (b) Seller has not received written notice of any action, suit, arbitration, unsatisfied order ort Judgmen," government investigation or proceeding pending or threatened in writing prior to the Effective to against Seller which has not been resolved, or if unresolved, could materially interfere with the consummation of the transaction contemplated by the Agreement or could create any obligation or restriction binding on the Property or the holder of any legal or beneficial interest therein following the Closing Date. There is no tax abatement or reduction proceeding that is pending for the Property. (c) There are no written or verbal leases, license agreements or any other agreements whatsoever regarding occupancy of the Property other than as set forth in Seller's Documents, (d) Except for the Permitted Exceptions and those contracts that will be terininated by Seller at or prior to Closing there are no agreements or other contracts currently in effect that affect the Property to which Seller is a party. (e) Seller has not received any written notice (i) frorn any applicable government authority of any violations of building codes and/or zoning ordinances or other ordinances, regulations, orders, open permits or requirements affecting the Property, existing or pending; (ii) of existing, pending or threatened lawsuits or appeals of prior lawsuits against Seller affecting the Property; or (iii) from any applicable government authority of any existing or pending or threatened condemnation proceedings affecting the Property. There are no open building permits or code violations affecting the Property. (f) Intentionally deleted. (g) Any and all agreements, including, without limitation, management agreements,franchise agreements and service contracts for the Property shall be term inated Addendum to Commercial Contract Page 5 of 12 175371 vI 0 at Closing by Seller,at Seller's sole cost and expense,so that Buyer shall receive ail of the Property free and clear of any such agreements, (h) Seller has no actual knowledge, of any "hazardous materials" (as hereinafter defined)attributable to or affecting the Property. As used in the Agreement, a "hazardous material" means (i) any hazardous, toxic or dangerous waste, substance or material, as defined for purposes of the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, the Resource Conservation and Recovery Act of 1976,as amended,or any other federal,state or local law, ordinance,rule or regulation applicable to the Property and establishing liability.. standards, or requiring action as to discharge, spillage, storage, uncontrolled loss, seepage, filtration, disposal, removal, use, or existence of a hazardous,toxic or dangerous waste, substance or material (collectively, and (ii) any waste, substance or material which, even if not so regulated, is known to pose a hazard to the health and safety of the occupants of the Property or of the property adjacent to the Property - . To Seller's knowledge,no prior use, either by Seller or the prior owners of the Property, has OCCUETed which violates any F-rrvironmental Law. The Property is not subject to any pending or,to Seller's knowledge, threatened investigation, inquiry or remedial obligation under any Environmental Laws, and this representation would continue to be true and correct following disclosure to any applicable governmental authority of all relevant facts, conditions and circumstances pertaining to the Property. There has been no litigation against Seller brought,or to Seller`s knowledge threatened, nor any settlement reached, by or with any parties alleging the presence, disposal, release or threatened release of any hazardous materials from the use, or operation of the Property. 7.2 At Closing, Seller shall deliver to Buyer a certificate, dated as of the date of Closing and executed on behal7of Seller by a duly authorized officer thereof, con fiening that the representations and warranties in section 7.1 are true and correct in all material respects. 7.3 Suniival of Seller's and....-Warranties. The representatiot warranties and indemnities of Seller set forth in&--��—gr-e-einent, u-p—dait-e-'-di-as of the Closing Date in accordance with the terms of flie Agreement, and as set faith in any Closing document delivered by Seiler, shall survive Closing for a period of ninety(90)days after closing. 7.4 C—Ovenants of Seller. From the Effective Date hereof until tire Closing or earlier tennination of the Agreement,except as set forth in the Agreement, Seller shall operate-,insure,and maintain the Property in a manner generally consistent with the manner hi which Seller has operated and maintained the Property prior to the Effective Date. Seller shall not enter into or record any easement, covenant, license, permit, agreement or other instrument against the Property or any portion thereof except as may, be required to enable Seller to perform its obligations under the Agreement or to enable the grayer to obtain the necessary Approvals. Seller shall not cause any action to be taken which would cause any of the representations or warranties made by Seller "I' the Agreement to be false on or as of the Closing Date. Seller shall promptly deliver to Buyer any written notices received pertaining to the Property and any inquiries received from third parties pertaining to the Property. Seller shall promptly notify Buyer in writing of the occurrence of any event or condition which occurs prior to the Closing Date which causes a change in the facts related to the truth of any of the representations or warranties made in the Agreement. 8. Seller Default. Section 14(a)of the Contract,is hereby replaced with the followin& Addendum to Commercial Contract Page 6 of 12 175371vlO (a)In the event the sale is not closed due to any default of failure on the part of Seller other than failure to make the title marketable after diligent effort, Buyer may: (i) elect to terminate this Agreement and receive a return of the Deposit; of (ii) Buyer may seek specific performance. Notwithstanding anything to the contrary herein, if specific perforinance is not available as a remedy because of the actions or inactions of Seller,then Buyer may exercise all remedies available at law or in equity against Seller, including without limitation, suing for damages. 9, BrokeraLe Commissions-With respect to the transaction contemplated by the Agreement. Seller and Buyer each represent that it;aTnot dealt with or engaged on its behalf or for its benefit with any real estate broker. Each Party hereto agrees that if any person or entity makes a claim for brokerage commissions or finder's fees related to the sale of the Property by Seller to Buyer, and such claire is made by, through or on account of any acts or alleged acts of said Party or its representatives, said Party will protect, indemnify, defend. andhold the other Party harmless from and against, any and all loss, liability, cost, damage and expense(including reasonable attorneys' fees) in connection therewith, The provisions of this Section 10 shall survive Closing or any termination of the Agreement. M Mseeflaneous. i—O T C'o n'' detia'lit' Buyer and Seller ann d each of their representatives shall hold i strict confidence the ten-ns and conditions of this Agreement, the existence of the Lease Termination Option (bereinafter defined), all documents, data and inforination obtained with respect to this transaction. the intended development of the Property by Buyer, the PrcjJect and/or the Approvals, whether obtained before or after the execution and delivery of the Agreement, and shall not disclose the same to any other party; provided, however,that it is understood and agreed that Buyer may disclose such data and information to the employees, lenders, consultants, accountants, investors and attorneys of Buyer or as othenvise required by law or by court order or in order to the consummate the transaction contemplated herein and/or obtain the Approvals. The provisions of this Section shall survive the Closing or earlier termination of the Agreement. 10.2 Public Disclosure. Seller and Buyer shall not make any press release or public disclosure of the terms and the conditions of this Agreement,the existence,of the Lease Termination Option,the transaction contemplated in the Agreement or related to the Buyers development plans, without the prior written consent of the Buyer, which may be withheld in its sole and absolute discretion. The provisions of this Section shall survive the Closing or earlier terinination of the Agreement. 10.3 Notices. The addresses and contact infonnation of the Parties for purposes of notice is as follows-, If to Seller: RAJA"S FAMILY INVESTMENTS. INC. PO Box 1140 Boynton Beach, Florida "3426 La—t— .......... Atte:5b#figytjslams, Email: shamsad369@hotmaii.com With a C to- 'I he,Wallace Law Gr ruPL )q4n. Lakes Drive 4200 Bo-,ntoter Beggh Florida 33426 Attri.Steven E..Wall ace, Escj. Addendurn to Commercial contract Page 7 of 12 175371v10 Email. .11acela.w e.00m If to Buyer; BB QOZ,.LLC 613 NW 3rd Ave, Suite 164 Fort Lauderdale EL 33311 . Jeffrey Bums lrnal I! tJ .t;rs3xJ _, ,.. _6.. .._:......... pit, cop),to: Kapp Morrison LLP 7966 Glades load, Suite 550 BocaRatown, FL 33434 Lance M.Aker, Esq. Phone:(561)766-6665 Eaik lakes. 1 or°i ca 10.4 I v Simultaneous with execution of this Agreement,Buyershall eater into a confidential agreement ent with the tenant under the Tenant Lease which shall provide a termination n oaption exercisable unilaterally by Bayer which provides for the term.ination of the Tenant lease (the "Lease Termination Option").. 3 e Lease Termination Option shalt be conditioned upon the sale of the Property to Buyer. 10.5 Intentionally deleted. 16. � � Seller hereby acknowledges and agrees that the purchase of the ProPerty or any portion thereof pursuant to this Agreement may comprise part of(i)an independent like-bind(tax defer d)exchange under Section 1631 of the Internal Revenue Code(a ``1031 Exchange")and/or(ii)a transaction involving investment ent intoe an opportunity Zone ( " Investment"), provided that same will not defy the Closing,cause additional expense to Seller, increase Seller's liabilities or obii atioons or otherwi se modify any of the term scar prorvisicons of this Agreement.Buyer's rights under this AgTeement may be assigned to a qualified intermediary for the purpose of completing a 1031 Exchange. Seller agrees to reasonably cooperate withat no coast to Seller: (i) Buyer's qualified intermediary for the purpose of effectuating or facilitating a 1031 Exchange,provided Haat Seller shall not be required to incur any liability or coasts,or take title to any other property, in connection therewith, and/or(ii)Bayer to enable Buyer's completion of an OZ Investment including, without limitation, to modify this Agreement, structure of the transaction and the closing procedures and deliverables hereunder to allow a 1031 Exch ;e aradlor an C1 Investment ent to comply with applicable law, rules oar re ulatioon pertaining thereto so long as any such modifications do not have ars adverse effect on Seller provided such does not change the material terms of this Agreement(i.e. Closing Date; and Purchase Price). 16,7 Quatte carts. The Contract t and this Addendwn may be execrated in counterparts and may be executed electronically or by ,pdfsignatures, and all such executed counterparts shall constitute the same agreement,and the signature of any Party to any counterpart shall be deemed.a signature to, and niay be appended to, any other counterpart. 16.E a ° o �: a s THE RESPECTIVERTI T AND THEY HEREBYICI WAIVE TRIAL BY JURY ANY ACTION, PROCEEDING ING I COUTNTERCLAIM BROUGHTEITHER THE PARTIES 14ERETO AGAINST THE- OTHER ON ANY MATTERS WHATSOEVERSING OUT OF OR IN ANY WAY CON C I ED WITH THE AGREEMENT,OR FOR FETE ENFORCEMENT OF ANY REMEDY RELATING HERETO LJNDERANY STATUTE, EMERGENCY C Y C1 aE . T HE PROVISIONS OF THIS SECTION SHALL S IRI E THE CLOSING EARLIER TERIMINATION OF THE AGREEMENT. Addendum to Commercial Contract Page 8 of 12 17537100 10.9 Time of the Essence. Time is of the essence with respect to each and every provision of the Agreement. 10,10. "AS IS";Disclaim nerof Warranties. Buyer acknowledges that Seller is conveying 0 the Property to Buyer in "as is" condition. Buyer acknowledges that.except as expressly set forth in this Ag ,reernent and the documents delivered by Seller to Buyer at Closing, Seller has not made any warranties or representations concerning the Property, or any component thereof, including, without limitation,the operation of or the costs or results of the operation thereof the condition of the improvements-, the existence, location, quality or condition of any personal property; the concurrency status of the Property;the zoning or other land use restrictions affecting the Property-, the enforceability of any contract other agreement or right assigned hereunder; the compliance of the Property or any part thereof with any governmental requirement;the use or existence or prior use or existence of any hazardous material on the Property; or the accuracy or completeness of any ,statement or other matter previously disclosed to Buyer. Buyer represents that it is purchasing the Property in its present condition,the Buyer having made or having the opportunity to make during or prior to the Due Diligence Period) its own inspection and examination of the Property and all components thereof. EXCEPT AS SPECIFICALLY PROVIDED FOR HEREfN AND THE DOCUMENTS DELIVERED BY SELLER TO BUYER AT CLOSING, THERE ARE NO EXPRESSED OR IMPLIED WARRANTIES GIVEN TO BUYER fN CONNECTIOlel WITH THE SALE OF THE PROPERTY. SELLER DOES HEREBY DISCLAIM ANY AND ALL WARRANTIES OF MERCHANTABILITY, HABITABILITY AND FITNESS THAT MAY BE DUE FROM.SELLER TO BUYER. NOTWITHSTANDE'qG ANYTHING TO THE CONTRARY SET FORTH HEREfN, 17AIS SECTION SHALL SURVIVE THE CLOSING. I O.11. nRelease. Except as expressly set forth in this Agreement and the documents delivered by Seller to Buyer at Closing, Buyer, on behalf of itself and its heirs. successors and assigns,hereby waives. releases, acquits and forever discharges Seller, its officers, directors,partners, shareholders,employees., agents,representatives and any other person acting on behalf of Seller, and the successor and assigns of any of the preceding, of and from any and all claims, actions, causes of action, demands, rights,damages, costs, expenses or compensation whatsoever,direct or indirect,known or unknown, foreseen or unforeseen, which Buyer or any of its heirs, successors or assigns now has or which may arise in the future on account of or in any way.related to or in connection with any past,present or future physical characteristic or condition of the Property, including,without limitation, any hazardous material in,at, on, Linder or related to the Property, or any violation or potential violation of any governmental requirement applicable thereto. This release shall survive the Closing. [SIGNATURES FOLLOW ON NEXT PAGE] Addendum to Commercial Contract Page 9 of 12 17537100 Ni WITNESS WHEREOF, the Parties hereto have duly executed this Addendum as of 1he date set forth on the first page hereof and the individuals executing this Addendum specificafly acknowledge that they have authority to execute this Addendurn and bind each of the respective Parties. SELLER: RAJA'S FAMILY INVESTMENTS, INC., a Florida corporation Printed ame.,_ Its Date: BUYER: BB QOZ, LLC, a Florida limited liability L;ompany ........... Printed-'�4 me: j'- �'�' ?7t Its., Date: Addend urn to Commercial Contract Page 10 of 12 17637100 Exhibft"A-V Le ki scriptionq area Details of the Property 'of the North 58.25 feet 14 mid all of die East 9 &et of the North 58.25 -feet ed ti lock 6 original townsite of Boynton, Florida Wcording to a peat thereof on file t Book 1, Page 23, Patin Beach County, Fonda public recdand also according tN. &: ttoched sketch of Lot 14 and East 9 feet of Lot 13, Block 6, original townsite of O'ww rax Bo Florida surveyed d prepared by Georgee 13mckway, Engineer, wider date of D r, 1939,and marked on said sketch TractI"; also 4� y IMACT�0. 1q .s All of t � Q gest; tot t a d the t t of Sou t of Lot 13, Block , original t Boynton, l d -, riling t s plat thereof file Plat Book t, Page , MaInm ,-, County, Florida cords, d di t the attached st `` tt t , c , original t t Boynton,Florida, survey rge S, Brockway, Engineer, tinder date of December 1939, and marked on said "Tract ". R CT : West 41 feet of Lot 13 in a theTown Boynton, m a Florid cording t theplat, r file in the office of the Clerk of the Circuit( in and for Palm Beach County, Flofida�T'orded in Mat Book l.,Page 21 LESS AND EXCEPT The East 10 feet of Lot 14 and the feet, less the East 10 feet thereof, of Lot 1 , Block , Original Town of Boynton-, according to the plat thertof as recorded ln Plat Book l at Page 23 of thePublicRecords- f Palm Beach County, Florida;being to Section 28, hip 45 South, Range,43 . rot; d That part of the aforementioned Lt 14, Block 6 of Original of Boynton, which is included in the external area formed by a 1foot radius am tangent to a line s fee t rt f and parallel to the South line of said Lot 14 and tangent to a line 10 feet West of and parallel to the East line of said Lot 14; subject to the existing right- for Occarn wQ all containing 0.028 of an acre, more or l s , Addendian to Conum,ercial Contract Pa-ge I I of t 1 53"if O Exhibit"B" Property Reports 1. Any and all reports regarding the presence of hazardous materials on or about the Property, including, but not limited to environmental reports; 2. Recent property tax assessments and bills; 3. All infori-natio-ri, plans or notices pertaining to the zoning of the Property and development rights in connection with the Property; 4. Copies of any violation notices received from governmental authorities in connection with the Property; 5. A]I documents or contracts evidencing obligations of Seller to be assumed by Buyer; 6. Current insurance policies; T Information on any liens and open permits; 8. Previous,current and proposed building plans and specifications for the Property; 9. Any estoppel certificates as may be required by a lease; 10. All current leases and rent rolls; it. Any and all contracts which may exist between Seller and a third-party entity performing work on the Property; 12. Any report in the possession of Seller including appraisal(s), property condition report(s) and all other studies, notices or information pertaining to the condition or value of the Property; 13, An existing ALTA survey of the Property, 14. A copy of the oN"j-er's policy of title insurance for the Property; IS. Copies of all warranties andgruarantees pertaining to the Improvements; 16. Any other documents or in-formation reasonably requested by Buyer with respect to the transaction contemplated by the Agreement, Addendum to Commercial Contract Page 12 of 12 17537100 • IN1 tff '{C"S4t� '�i X15 Si"��'t,N, , T 61 t xr _i r 3b�i19�j1S t , x Lvl` ?k� ?._»�`, •1°. �.'� �r' k t k� t r i v 'Rf }ra w I,f, tkr OU t '0111al��gi ...� ; f `�f, � T t k MY, fi� 4� �tl I � E. U-i Ll- > 06 4-1 U) I (D • • ;7r 4- p r tt€{s €+ € ( w €)}�l9 s� ss +• � �!h t "�_,� � - ( �'�� i \ �, � 3�I lob� ix � °€ye ,� '� t t � ; i • a1! 1 ti 11k ��.� � � „`r ; € ��`1�t�flc,��t��fij4 �€r�� ,� � t £ r r�`�i� ilt' 41C _ t �fv�..`� 1 Fr � ; � I € s . 4� � Is f a s� r€c �� CD o r U Tl vi 0 `' '4�cr �4 w � Aiti�(€€ 4 • �'is is�s3gi i€ t t �� P st � � � �, � il{t£s`s� y s fD r ;ils t fe 1 to i s'S �s a �ttii�� s} , tisk s� y dv Jss tm€� 4 sO N it t airyi,,, }� M 4 st , ;f r ��t11 t{i astir n ; iS%`7 Y - .}�((;�' +4 ti....Inti �5�fliti et it ��tt�V 1Ess s t 4 , rAl 4�.= An r • N to C +�+ c N C M _ _0 _0 = O 'L O ° ~ Ln c > ULn v Qj N U O+ + U N N O m co 00 E N O �, ++ L of OC c: > CO d vi C: w CL a•d +_' >. U O N C Q N O p L fC •?� O cnU .p L +' V > � +' +, m N +' 0 N 0 N ULU ate, •3 i +' cn •— N M M E M CO o C: ago OAC O .c+ �, Ln L cr N p +' of of L a + N CLO C1A • N fC N = N m ° _ of C: tU O cr u fB U N C) U o (1) 3 � cv N O `i N cB °' N cB +; _0 L N > Q > =3 _0 L -0 O m aN, > C)- C) Q H cn m N N C: m4� � +' N m C: cu — � •U � � a--+ Late—+ .� + O Oate+ X O CO E 4— 2 U N ate-+ m. U +-+ C: Q) fB O 306 -0 p Q c N — L O `— of lfl ++ 2 U •N S fB _v N of ++ 'vf I� N ° (V N 'N fB : UL O � a + ate' cr c ate+ ;0 u mO M : 'cR N •N Q Q ~ L 0 Y j. +�, N O N 0 0 0 N Q _ O N V 4- C: N Q X > N C1A L u ate+ � LU U Q cn ate+ U O cn O U ci CL ° v .� ,Oceu + E =3 C: L Q -0 O � w c " 4- H — N N cn 4�A >i N V ate-+ U > L ++ >, fB N N � >- H Q E H -0 O U D a U N +L+ 'cn cLs Q cB cB �fil y lie .o .mmm m ! ® e® !mm TCEA TRAFFIC I M PACT ANALYSIS BEACH,THE PIERCE BOYNTON FL Prepared by: Kimley-Horn and Associates, Inc. West Palm Beach, Florida Kimley )))Horn October 15,2021 Registry#696 Kimley-Horn and Associates,Inc. 1920 Wekiva Way Christopher W West Palm Beach,Florida 33411 561/845-0665 TEL \`S�nP"ER•"H''% This item has been electronically H e g g e n _ m% signed and sealed by Christopher W. *£, No.58636 5;*= Heggen,P.E.using Digital Signature and date.Printed copies ofthis 1 STATE OF f��` document are not considered signed 2021 1 0 15 FS•.L q,RIpP�'`@� and sealed and the signature must be ////i sNhl1l4`G y\\ verified on any electronic copies. 12:05:32 -04'00' Christopher W. Heggen, P.E. Florida Registration Number 58636 °0�� U�� 0�� _�� '�r � @�� T[8K|Ci0 tAnalysis � ��U m� Contents Table of Introduction............................................................................................................................................ 1 Inventoryand Planning Data ...................................................................................................................3 ProjectTraffic..........................................................................................................................................4 TripGeneration...................................................................................................................................4 TrafficDistribution...............................................................................................................................6 IntersectionAnalysis.............................................................................................................................. 10 PedestrianAccess.................................................................................................................................. 12 EastOcean Avenue............................................................................................................................ 12 SouthFederal Highway...................................................................................................................... 12 Conclusion............................................................................................................................................. 13 Appendix A: Project S|t8D8t8 Appendix B: Turning Movement Counts Appendix C:VU|U08 Development Worksheets and Signal Timing Appendix D: 8«OChnOOutput Worksheets k:\wp b—tpto\bmoko\npn\ohrio\boyntontoeo\2021'10'15the pierce tio.doox P8q8 | i °0�� U�� 0�� _�� '�r � @�� T[8K|Ci0 tAnalysis � �^� /� ��U �� » »��»es Table1: Development Intensities ............................................................................................................1 Table2: Trip Generation..........................................................................................................................5 Table 3: Existing Intersection LOS and Delay.......................................................................................... 10 Table 4:Total Future Intersection LOS and Delay...................................................................................11 Table 5:Total Future Intersection LOS and Delay (Modified Signal Timing) ............................................11 List of Figures Figure:Site Location .............................................................................................................................2 Figure 2: Project T0O1CD|8thhUtiUO----------------------------------'7 Figure 3: Project T[8ff|C |Ot808CtiUOA88|gO08Ot (D8Q8Ot)-----------------------.8 Figure 4: Project T[8ff|C |Ot808CtiUOA88|gO08Ot (D88khUU[VU|U08«)-----------------.9 Traffic Impact Analysis Kimley>Morn Introduction The Pierce is a mixed-use redevelopment project that is proposed to be located within the area bounded by NE 4t"Street on the west, Federal Highway on the east, East Ocean Avenue on the south, and Boynton Beach Boulevard on the north. The overall site includes several existing buildings on site, which are proposed to be demolished and replaced by the redevelopment project. Table 1 summarizes the existing and proposed land uses and intensities. Table 1: Development Intensities � a �a •m Convenience Store 1,792 SF -- High-turnover Sit-Down Restaurant 2,794 SF 7,100 SF General Office 12,477 SF 6,200 SF Commercial Retail 4,104 SF 3,500 SF Multi-Family Residential -- 236 DU The site is within the City of Boynton Beach's Transportation Concurrency Exception Area (TCEA). Figure 1 illustrates the site location. The parcel control numbers for the properties associated with the redevelopment are the following: • 08-43-45-28-03-006-0100 • 08-43-45-28-03-006-0130 • 08-43-45-28-03-006-0111 • 08-43-45-28-03-006-0010 • 08-43-45-28-03-006-0120 Kimley-Horn and Associates, Inc. was retained to prepare a traffic impact study to determine the impacts of the modifications to the approved site plan. Because the site is in the adopted TCEA boundaries, a full evaluation of roadway capacity is not required. However pursuant to Article 12, Chapter K within Palm Beach County's Traffic Performance Standards Ordinance (IPSO), an abbreviated traffic impact study that includes the net traffic generated with the site plan modification,assignment throughout the Test 1 Radius of Development Influence, and projections of future traffic at the site access is required. This document presents the methodology used to satisfy these requirements and the results of the traffic impact study. Additionally, Level of Service (LOS) analyses have been performed at the signalized intersections of Boynton Beach Boulevard & Federal Highway and East Ocean Avenue & Federal Highway. Parcel data summaries are included in Appendix A. k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-15 the pierce tia.docx Page 11 it IPI tit tit Nil JI �tf hf v, itj S , 1 1}+ ff t ff t fi ilf rfs 41 ;l,4,"', f (i ,If.f 1lpi{ f �� r i r f U It R i 'a t t },�trr�%i}`""'4S ' Boynton Beach Blud. ;t/�roan``i t,�sff f fi IVE 1st Ave. 11 Ocean Ave. it r.,t . . J CO CO m },tuff i f&,tv n.f Or r `14 }ft- � S� Serf r Q t LEGEND FIGURE 1 The Pierce Project Site Site Location Trafficways Kimley))) Horn Traffic Impact Analysis Kimley>Morn PlanningInventory and The data used in this analysis was obtained from the Palm Beach County Traffic Division and FDOT Annual Average Daily Traffic.The data included: • Historical growth rate information (FDOTTraffic Online) • Committed development traffic data (from the Palm Beach County TPS database) Turning movement count summary data was obtained from the Palm Beach County Traffic Division at the following signalized intersections: • Boynton Beach Boulevard & Federal Highway • East Ocean Avenue & Federal Highway Turning movement counts are included in Appendix8, and TPS database worksheets are included in Appendix C. k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-15 the pierce tia.docx Page 13 Traffic Impact Analysis Kimley>))Horn Project rel Project traffic used in this analysis is defined as the vehicle trips expected to be generated by the project and the distribution and assignment of that traffic over the study roadway network. Trip Generation The daily and peak hour traffic generation for the approved and proposed site development was based on trip generations rates published by Palm Beach County Traffic Division. The trip generation estimate for the proposed project was developed using standard methodologies and procedures for performing traffic impact studies within Palm Beach County. As such, the trip generation potential for the site was adjusted based on the following: • Projects located within the Transportation Concurrency Exception Area (TCEA) are not subjected to standard traffic concurrency analyses. Nonetheless, the potential trips associated with the project have been included within the estimated driveway volume calculations and for site specific analysis purposes. • Residential projects located within the Coastal Residential Exception Area (east of 1-95) are not subjected to concurrency. Therefore, the trips associated with the residential portion of the proposed project have been discounted to reflect this exemption, as per Chapter I - Section 3 of the County's TPS. Nonetheless, the potential trips associated with the residential portion of the project have been included within the estimated driveway volume calculations. • The traffic volumes associated with the existing buildings on site were calculated and were subtracted from proposed traffic volumes to determine the net change in traffic resulting from site redevelopment. • Pass-by reductions have been applied in accordance with the rates established by Palm Beach County. • Internal capture reductions have been applied in accordance with reductions developed using ITE's Internal Capture Worksheets, which are found in Appendix B. Table 2 summarizes the trip generation calculations. The modified site plan is expected to generate an increase in 1,185 net new external daily trips, an increase of 78 net new external AM peak-hour trips (+21 in,+57 out), and an increase of 76 net new external PM peak-hour trips(+54 in,+22 out)compared to the existing uses. For significance purposes, the site plan modification would a minimal increase in AM peak hour trips (+3 peak hour trips) and a decrease in PM peak hour trips (-9 peak hour trips) with the residential projects being removed from the trip generation comparison due to being within the CREA. k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-15 the pierce tia.docx Page 14 Traffic Impact Analysis Kimley>Morn Table 2: Trip Generation s. Convenience Store 1.792 KSF 26 28 14 14 28 14 14 High Turnover Sit-Down Restaurant 2.794 KSF 313 28 15 13 27 17 10 General Office(>5,000 SF) 12.477 KSF 141 38 33 5 14 2 12 General Commercial(<10,000 SF) 4.104 KSF 516 4 2 2 41 20 21 Subtotal 996 98 64 34 110 53 57 Internal Capture Convenience Store 0 0 0 0 0 0 0 High Turnover Sit-Down Restaurant 133 7 3 4 9 5 4 General Office(>5,000 SF) 65 9 5 4 2 0 2 General Commercial(<10,000 SF) 120 2 1 1 11 6 5 Subtotal 318 18 9 9 22 11 11 Pass-By Capture Convenience Store 61.0/ 16 17 9 8 17 9 8 High Turnover Sit-Down Restaurant 43.0/ 77 9 5 4 8 5 3 General Office(>5,000SF) 10.0/ 8 3 3 0 1 0 1 General Commercial(<10,000 SF) 62.0% 246 1 1 0 19 9 10 Subtotal 347 30 1 18 12 45 1 23 22 Driveway Volumes 678 80 55 25 88 42 46 Net New External Trips 331 50 37 13 43 19 24 General Commercial(<10,000 SF) 3.5 KSF 440 3 2 1 35 17 18 High Turnover Sit-Down Restaurant 7.1 KSF 796 71 39 32 69 43 26 Multifamily Mid-Rise 236 DU 1,284 85 22 63 104 63 41 General Office(>5,000 SF) 6.2 KSF 72 32 28 4 7 1 6 Subtotal 2,592 191 91 100 215 124 91 Internal Capture General Commercial(<10,000 SF) 199 1 1 0 22 12 10 High Turnover Sit-Down Restaurant 242 16 11 5 25 11 14 Multifamily Mid-Rise 198 10 1 9 19 10 9 General Office(>5,000 SF) 47 9 5 4 2 1 1 Subtotal 686 36 18 18 68 34 34 Pass-By Capture General Commercial(<10,000 SF) 62.0% 149 1 1 0 8 3 5 High Turnover Sit-Down Restaurant 43.0/ 238 24 12 12 19 14 5 Multifamily Mid-Rise 0.0/ 0 0 0 0 0 0 0 General Office(>5,000SF) 10.0/ 3 2 2 0 1 0 1 Subtotal 390 27 15 12 28 17 11 Driveway Volumes 1,906 155 73 82 147 90 57 Net New External Trips 1,516 128 58 70 119 73 46 a T>i1;, $ '`i � t ti $: , '} s S ,; �r 'j Proposed Non-Residential-Existing Non-Residential Net New External 99 3 0 3 -9 1 -10 Radius of Development Influence: 1 miles Land Use Daily AM Peak Hour PM Peak Hour Pass By Convenience Stare 14.3'PM trips 15.5 trips/1,000 sf(50%in,50%out) 15.5 trips/1,000 sf(50%in,50%out) 61.0% High Turnover Sit-Down Restaurant 112.18 trips/1,000 sf 9.94 trips/1,000 sf(55%in,45%out) 9.77 trips/1,000 sf(62%in,38%out) 43.0% General Office(>5,000 SF) Ln(T)=0.97'Ln(X)t2.50 Ln(T)=0.94'Ln(X)t26.49(86%in,14%out) 1.15 trips/1,000 sf(16%in,84%out) 10.0% General Commercial(<10,000 SF) 125.61 trips/1,000 sf 0.94 trips/1,000 sf(62%in,38%out) 9.9 trips/1,000 sf(48%in,52%out) 62.0% MulSfamily Mid-Rise 5.44 trips/DU 0.36 trips/DU(26%in,74%out) 0.44 trips/DU(61%in,39%out) 0.0 General Office(>5,000 SF) Ln(T)=0.97'Ln(X)t2.50 Ln(T)=0.94'Ln(X)t26.49(86%in,14%out) 1.15 trips/1,000 sf(16%in,84%out) 10.0% k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-15 the pierce tia.docx Page 15 Traffic Impact Analysis Kimley>Morn Traffic Distribution Traffic distribution is the pairing of trip ends from the subject site with other land uses in the area. These trips were assigned to the surrounding roadways based upon a review of the roadway network proposed to be in place at the time of buildout and its travel time characteristics. The distribution according to cardinal directions is: NORTH - 20 percent SOUTH - 30 percent EAST 10 percent WEST 40 percent The site traffic was assigned to the surrounding roadway network based upon existing travel patterns and the traffic distribution. Figure 2 illustrates this traffic distribution. The AM and PM peak hour trips for the project were then assigned to the surrounding intersections, as shown in Figure 3 (percent assignment) and Figure 4 (peak hour project traffic volumes). k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-15 the pierce tia.docx Page 16 i i r7 JI �A£ £ 145If £ ri i x i I� • W, jtt it £t +z 20% f j £ £ t . £ f £1 '11x41' 7; i 9 } £ NO £iVI+ti£ ££ "I", {�t' i s t�£NN t £ r z } i y�£�p1 { yi"INN" t S �£t� Bo nton Beach Blvd. 40% 40%in 20%in �{ 20% out 40% out 4 NE 11t Ave. 40%in �£ 8 % out S40%in O% out Ocean Ave. 10% i� i p, it, Or � y } i 'lsi/ ;}itu4 1J 30% '£ �£1- 1r ;. LEGEND FIGURE 2 The Pierce Project Site Project Link Distribution or .,o.o"ft*„ Trafficways 30% % Project Traffic KI'mley))) Horn 20%J 40% V t 1 f t„ t i� Boynton Beach Blvd. 1 ,P "' NE st 00 20% 7777-7, 2 Ocean Ave. ir. , , Co T = 10% o 40% 40% sha 10% wo �V o 30%MW , }k 4w, ,y tit 7' 4tR14 t , , ,1 t LEGEND FIGURE 3 The Pierce Project Site Project Traffic Distribution Trafficways /40 Inbound/Outbound Klomley))) Horn a 11 (4) J 0(20) IA lit 7 7 r t lt�fl{��y� z Stl �iti z lM� t„ 4 i� Boynton Beach Blvd. 1 0 NE st N Ar C) 4 00 � 0(10) CD 777 2 Ocean Ave. s 0(5) 23(9) 0(5) h 5(2) o LEGEND FIGURE 4 The Pierce Project Site Project Traffic Volumes Trafficways /40 Inbound/Outbound Klomley))) Horn Traffic Impact Analysis Kimley>Morn AnalysisIntersection Based upon a review of the surrounding transportation network, intersection operational analyses have been conducted to analyze AM and PM peak hour conditions during the existing, background, and future total scenarios at two signalized intersections in the vicinity of the site. The intersections analyzed were the following: • Boynton Beach Boulevard & Federal Highway • East Ocean Avenue & Federal Highway The most recently-published count data was obtained from the Palm Beach County Traffic Division and a peak season conversion factor(PSCF)was applied to the counts. It is also noted that condition#8 of Policy 1.2-u in the Transportation Element of the Palm Beach County Comprehensive Plan, which is the policy tha testablished the Boynton Beach TCEA, requires the following: 8. The City shall annually monitor the intersection of Boynton Beach Boulevard and US-1, and coordinate with FDOTand the County to improve this intersection when necessary, and if feasible. Therefore, this analysis addresses the monitoring requirement for this intersection. An intersection operational analysis was completed using Trafficware's Synchro 10.0 Software and the methodologies outlined in the Highway Capacity Manual, 6t"Edition. The intersection delay and level of service are summarized at the three intersections for the existing and total future total scenarios in Table 3 and Table 4, respectively. As shown in these tables, the intersections operate at an overall level of service of LOS D or better in the AM peak hour during both existing and total conditions with redevelopment of this site. During the PM peak hour, there are LOS E conditions if the signal timing were not adjusted. However, based on changes in traffic volumes on the various intersection approaches, adjustments to the signal timing durations are appropriate. With assumed adjustments to the signal timing, both intersections will operate at an overall LOS D Therefore, the intersections will operate acceptably with the project traffic in the future at project buildout. Table 3: Existing Intersection LOS and Delay 3 Boynton Beach Blvd & Federal Highway D 39.3 sec D 40.6 sec East Ocean Avenue & Federal Highway D 37.8 sec D 47.1 sec k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-15 the pierce tia.docx Page 10 Traffic Impact Analysis Kimley>Morn Table 4: Total Future Intersection LOS and Delay Ina.ME Na Boynton Beach Blvd & Federal Highway D 48.1 sec E 58.6 sec East Ocean Avenue & Federal Highway D 42.7 sec E 56.6 sec Table 5: Total Future Intersection LOS and Delay (Modified Signal Timing) 3 Boynton Beach Blvd & Federal Highway -- -- D 54.2 sec East Ocean Avenue & Federal Highway -- -- D 48.0 sec Signal timing worksheets are included in Appendix C. Synchro output worksheets are included in Appendix D. k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-15 the pierce tia.docx Page 11 Traffic Impact Analysis Kimley>Morn Pedestrian The project will include connections and enhancements to the pedestrian network in the surrounding area, particularly on the tow roadway frontages with the highest pedestrian activity: East Ocean Avenue and South Federal Highway. Below is a summary of the enhancements proposed: East Ocean Avenue The existing sidewalk in the public right-of-way varies in width from 7 feet to approximately 20 feet in the areas where parallel parking spaces are not provided. The conceptual plan includes enhanced pedestrian zones of varying width on the private property that tie directly into the existing sidewalk, creating an enhanced overall pedestrian zone along the East Ocean Avenue side of the property. Moreover, direct connections are provided into an internal plaza/courtyard from the pedestrian zone on East Ocean Avenue. South Federal Highway The entire site frontage along South Federal Highway includes a 10'-wide sidewalk, plus an 8'-wide pedestrian zone on the back of that sideways. Additionally, the majority of the building frontage on this roadway includes a covered arcade facing the public right-of-way,providing protection from the elements for pedestrians. Additionally, sidewalks are proposed along the property frontage on NE 4t" Street and on the south side of NE 11t Avenue. An elevated bridge is proposed from the parking garage over NE 1 It Avenue to provide direct pedestrian access for building residents to access the multi-family component of the site. k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-15 the pierce tia.docx Page 112 Traffic Impact Analysis Kimley>Morn Conclusion This evaluation analyzed the traffic impacts associated with the redevelopment of the site located within the area bounded by NE 4t"Street on the west, Federal Highway on the east, East Ocean Avenue on the south, and Boynton Beach Boulevard on the north. As noted, the site is located within the Boynton Beach TCEA and the County's adopted Coastal Residential Concurrency Exception Area and is not subject to the typical Test 1 and Test 2 analysis requirements of the Palm Beach County ULDC. Project traffic volumes were quantified, however, using trip generation rates and equations published by the Palm Beach County Traffic Division. The analysis indicated that the proposed redevelopment will result in an increase of 78 net new external AM peak hour trips and 76 net new external PM peak hour trips in comparison to the existing buildings on site. The trips were assigned to the adjacent transportation network, and LOS and vehicle delay analyses were performed at the signalized intersections of Federal Highway & Boynton Beach Boulevard and Federal Highway & East Ocean Avenue. The analyses indicated that the intersections will continue to meet adopted LOS standards (LOS D or better) in the future, including considerations for optimized signal timing adjustments based on future changes in traffic volumes. A review of the pedestrian access indicated that direct connectivity to the adjacent pedestrian network will be provided along all project frontages, and enhanced pedestrian features will be provided along the two frontages with the greatest pedestrian activity(East Ocean Avenue and South Federal Highway). k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-15 the pierce tia.docx Page 113 Traffic Impact Analysis Kimley>))Horn Appendix A: Project Site Data k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-13 the pierce tia.docx Property Detail Parcel Control Number: 08-43-45-28-03-006-0130 Location Address: 101 N FEDERAL HWY Owners: RAJAS FAMILY INVESTMENTS INC Mailing Address: PO BOX 1 140,BOYNTON BEACH FL 33425 1 140 Last Sale: NOV-2012 Book/Page#: 25778 /426 Price: $10 Property Use Code: 1100-STORES Zoning: CBD-CBD CENTRAL BUSINESS DISTRICT(08-BOYNTON O BEACH) s Legal Description: TOWN OF BOYNTON LT 13&LT 14 Total SF: 1792 Acres 0.2494 /LESS RD R/W/BLK 6 2021 Values (Preliminary) 2021 Taxes (Preliminary) � a Improvement Value $150,873 Ad Valorem $10,784 y Land Value $380,310 Non Ad Valorem $2,383 Total Tax $13,167 Total Market Value $531,183 2022 Qualifieda Assessed Value $496,912 Exemptions Exemption Amount $0 No Details Found r Taxable Value $496,912 Applicants _ All s clues are as of Jaanuat s=I st each year. No Details Found z ` C Building Footprint(Building 1) (Subarea and Square Footage(Building 1 ) Description Area Sq.Footage CONVENIENCE STORE 1792 z Total Square Footage: 1792 fi= Extra Features z Description Year Built Unit n Paving-Asphalt 1929 1071 Paving-Asphalt 1929 1140 Z Unit may represent the perimeter,square footage,linear footage,total number or other measurement. m w N 00 O W O Structural Details(Building 1 ) I MAP o 0 Description to 1. Year Built 1929 _ I 2. CONVENIENCE FOOD MKT 1792 °s r 1'1 F 1� ( a v SE 1 st Dorothy Jacks,CFA,AAS PALM BEACH COUNTY PROPERTY APPRAISER www.pbcgov.org/PAPA 10/12/2021 Property Detail Parcel Control Number: 08-43-45-28-03-006-0120 Location Address: 529 E OCEAN AVE Owners: 500 OCEAN PROPERTIES LLC Mailing Address: 511 E OCEAN AVE,BOYNTON BEACH FL 33435 4923 Last Sale: .TUN-2011 Book/Page#: 24665 /1688 Price: $10 Property Use Code: 1200-STORE/OFFICE/RESIDENTIAL Zoning: CBD-CBD CENTRAL BUSINESS DISTRICT(08-BOYNTON O BEACH) s Legal Description: TOWN OF BOYNTON LT 12 BLK 6 Total SF: 5644 Acres 0.1431 2021 Values (Preliminary) 2021 Taxes (Preliminary Improvement Value $233,917 Ad Valorem $8,935 0 Land Value $186,990 Non Ad Valorem $5,041 Q Total Tax $13,976 Total Market Value $420,907 n 2022 Qualified Assessed Value $420,907 Exemptions y Exemption Amount $0 No Details Found Z b Taxable Value $420,907 Applicants All salues are as;uf`Januat�r 1st each scar, No Details Found � Building Footprint(Building 1) (Subarea and Square Footage(Building 1) Description Area Sq.Footage to rn RESTAURANT 994 RESTAURANT 1800 r OFFICES 2850 (" Total Square Footage: 5644 Extra Features Z Al 834) 84 (I'I SGYGI 8O t28v.:i .� Description Year Built Unit � Deck 1998 384 zs 25 w e s Unit may represent the perimeter,square footage,linear footage,total number or other measurement. N 0 w 0 0 a 0 Structural Details(Building 1) I MAP o Description 1. Year Built 1922 ' 2. RETAIL MULTI OCCUP 5644 .• �4' G a o r i p 1 , Jn 1F 3u� A 1 l i Dorothy Jacks,CFA,AAS PALM BEACH COUNTY PROPERTY APPRAISER www.pbcgov.org/PAPA 10/12/2021 Property Detail Parcel Control Number: 08-43-45-28-03-006-0100 Location Address: 511E OCEAN AVE Owners: 500 OCEAN PROPERTIES LLC Mailing Address: 511 E OCEAN AVE,BOYNTON BEACH FL 33435 4923 Last Sale: IUN-2011 Book/Page#: 24665 /1688 Price: $10 Property Use Code: 1200-STORE/OFFICE/RESIDENTIAL Zoning: CBD-CBD CENTRAL BUSINESS DISTRICT(08-BOYNTON O BEACH) s TOWN OF BOYNTON LT 10&W 7 FT 8 Legal Description: IN OF LT 11(LESS S 8 FT OCEAN AVE Total SF: 7702 Acres 0.1545 `D R/W)BLK 6 to 2021 Values (Preliminary) 2021 Taxes (Preliminary Improvement Value $302,490 Ad Valorem $10,707 Land Value $201,870 Non Ad Valorem $3,154 rrl Total Tax $13,861 a Total Market Value $504,360 z 2022 Qualified Assessed Value $504,360 Exemptions ti Exemption Amount $0 No Details Found Q Taxable Value $504,360 Applicants b m All�alues are as of,Ianuary I st each fear', No Details Found Building Footprint(Building 1) (Subarea and Square Footage(Building 1) m rn Description Area Sq.Footage r" OFFICES 4190 r g , SUPPORT 504 ti 9- APARTMENT 899 r] APARTMENT 2109 Z Total Square Footage: 7702 e s°Ak ae 57 Extra Features W °g Description Year Built Unit r� No Extra Feature Available 0 w 0 o a 0 o 0 Structural Details(Building 1) I MAP }, Description 1. Year Built 1948 s b o 2. RETAIL MULTI OCCUP 7702 — N E 1 1 A-,,, 1 C i �L r z f,. ii x_- Lr; Dorothy Jacks,CFA,AAS PALM BEACH COUNTY PROPERTY APPRAISER www.pbegov.org/PAPA 10/12/2021 Property Detail Parcel Control Number: 08-43-45-28-03-001-0060 Location Address: 508 E BOYNTON BEACH BLVD Owners: 508 E BBB LLC Mailing Address: 508 E BOYNTON BEACH BLVD,BOYNTON BEACH FL 33435 4141 Last Sale: APR-2012 Book/Page#: 25163 /96 Price: $250,000 Property Use Code: 1700-OFFICE ONE STORY Zoning: CBD-CBD CENTRAL BUSINESS DISTRICT(08-BOYNTON O BEACH) s Legal Description: TOWN OF BOYNTON LTS 6&7 BLK 1 Total SF: 1925 Acres 0.2863 2021 Values (Preliminary) 2021 Taxes (Preliminary Improvement Value $174,270 Ad Valorem $10,318 Land Value $311,775 Non Ad Valorem $895 Total Market Value $486,045 Total Tax $11,213 Assessed Value $486,045 2022 Qualified Exemptions Exemption Amount $0 No Details Found r Applicants r Taxable Value $486,045 A PP n All salues are as;uf'J anuat�r 1st each car, No Details Found � n Building Footprint(Building 1) (Subarea and Square Footage(Building 1) Z w Description Area Sq.Footage OFFICES 1925 Total Square Footage: 1925 �n Extra Features 0 Description Year Built Unit 0 Paving-Asphalt 1958 245477 77 0 Walkway-Concrete 1983 340 0 Unit may represent the perimeter,square footage,linear footage,total number or other measurement. 0 0 Structural Details(Building 1) I MAP Description 1. Year Built 1958 2. OFFICE BLDG L/R 14S 1925i T` n t 1 , 11 i I1 N E 1}t gid , Dorothy Jacks,CFA,AAS PALM BEACH COUNTY PROPERTY APPRAISER www.pbcgov.org/PAPA 10/12/2021 Property Detail Parcel Control Number: 08-43-45-28-03-001-0060 Location Address: 508 E BOYNTON BEACH BLVD Owners: 508 E BBB LLC Mailing Address: 508 E BOYNTON BEACH BLVD,BOYNTON BEACH FL 33435 4141 Last Sale: APR-2012 Book/Page#: 25163 /96 Price: $250,000 Property Use Code: 1700-OFFICE ONE STORY Zoning: CBD-CBD CENTRAL BUSINESS DISTRICT(08-BOYNTON O BEACH) s Legal Description: TOWN OF BOYNTON LTS 6&7 BLK 1 Total SF: 1925 Acres 0.2863 2021 Values (Preliminary) 2021 Taxes (Preliminary Improvement Value $174,270 Ad Valorem $10,318 Land Value $311,775 Non Ad Valorem $895 Total Market Value $486,045 Total Tax $11,213 Assessed Value $486,045 2022 Qualified Exemptions Exemption Amount $0 No Details Found r Applicants r Taxable Value $486,045 A PP n All salues are as;uf'J anuat�r 1st each car, No Details Found � n Building Footprint(Building 1) (Subarea and Square Footage(Building 1) Z w Description Area Sq.Footage OFFICES 1925 Total Square Footage: 1925 �n Extra Features 0 Description Year Built Unit 0 Paving-Asphalt 1958 245477 77 0 Walkway-Concrete 1983 340 0 Unit may represent the perimeter,square footage,linear footage,total number or other measurement. 0 0 Structural Details(Building 1) I MAP Description 1. Year Built 1958 2. OFFICE BLDG L/R 14S 1925i T` n t 1 , 11 i I1 N E 1}t gid , Dorothy Jacks,CFA,AAS PALM BEACH COUNTY PROPERTY APPRAISER www.pbcgov.org/PAPA 10/12/2021 Traffic Impact Analysis Kimley>))Horn Appendix B: Turning Movement Counts k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-13 the pierce tia.docx J p a (O M 00 M V V M O O M r N M O N M O r to (O O_ V M V M M M r O N M (O M M r N M V I- M M O M (O M V (0 In r r N N (O O to M V In O M O M N (O M V In (0 In t O o0 N m V O V V N M In (O O M N N 00 d) N V V V I� M N (O o0 O O Cl) to to r N N (O N n (O V V In M M V N N M N N N N N M M M M M Cl) N M N N H 0 M m (O m M N 00 N N V d) r r _ N V O N r N 00 I- N N d) V Cl) O N V V 00 (0 In r (O r r 00 V N Cl) In 00 00 N to (O d) N to O N V (0 N M V co In N N Cl) N N N Cl) CL H r 00 LO to I- (D Cl) Cl) r 0) 0) 0) N O M 00 N r N O r M m V 00 I- O V M r O to t I- 00 I- 00 t In to r (O O O V o0 N M m r M (O o0 N o0 N r- 0) N 00 N O O N N N V O O V co - 00 co M N N N Cl) Cl) N M O to V o0 00 r J 0) O In r N (O o0 N r N O d) M N V d) V N _ 00 r- N N V (0 In V O I- O m O N N 00 m (0 M 00 In r O O to 0) N V In Cl) (O to N O d) Cl) N N — N N N — M r 00 (O d) V In d) V M (0 N M M N � N M d) Cl) N to 00 M V 0 V 0 tO O O O O O M V O (0 O O ONVnNNrNMo N N 0) N C'4 N M o0 00 m _ m r (Om M O N O r r r- M V r- N N V O M I� 00 00 M N M W Cl) N N M N N M N N N N F N N (O N (O o0 to r O N r to N d) to V O d) to M d) (O 00 d) r 0) Cl) d) O Cl) (O to N to 00 I- O V O 0) N N O O (0 In V I- to W O N N O Cl) O — 00 N In N O � N (D r- N L V N V V N V N N (0 N I� M r 00 J N o0 V M M o0 M N N N N M O M V V m O O N N r (O M m r M (O to r O N m � O 00 V 00 0) (0 I- N — — V d) 0 V N N M V V (0 N In M N N N V N M N W V M (0 M M In N M to N N N M CO O — 00 — O (O — N M M O O O O O O O — O O O — M — N V N O O O N M — O O O W mV Cl) V N 00 (0 VC\l V M I- O O N (ON V r (0 I- V In M O N M O N (0 N N (0 M M (O N M to V (0 (0 In y — M M N Cl) N — M m O o0 (0 N V (0 V m NV N N V In (O r V V O In o0 M d) (O (O M d) m (O N O N 00 d) N O V N O V N � 00 to m M m 00 M O O 00 M N y 00 00 n (O r r N V V J o0 N N 0) I- co r r V O In V Cl) O 0) r Cl) (O (O to Cl) N m co o0 N V In d) co o0 d) N N O to co (O V In N M In N M o0 V V I- M d) M (h V N V O W Cl) N N N N In n In V V M V N M V M V N M m M O r (O to o OO— — r " O O O O O O O N O O O O N Oa— M O M N V O O O O — — Oa— W N CO - O r O _ zr N (I�O (VO Nd) (VO rI� Vo VV Vd) or0 Mr o0 W N o0 V d) (O0 mM M M oN0 NN r V o0 co 00 V o0 N mO0N o0OO (0 N M M MN r m MN N(O (�0 Nd) � mV NM� 0 (0 0 00 M Z (0 (0 n r o (O M n o V V V M V V (0 J 00 O M (O M O o0 r 00 � O o0 00 m N V In N r o0 V V M N In O m V m m N N O r O d) M m Y) O N O t o0 M O m to (0 M N N N to N N N (O M z N M N N M N N — — — N N — N N N m V M M N M O O In O O O O O O O O O O O O O O O O O O O O O N (O N z W Q a a a a Q Q a a Q a a Q 0 a Q o o o o a Q o a Q a Q o a Q o a Q o a Q a Q o a Q 0 a Q L2 a � O O o O o O o "i O � "1 O " 0 � V V "r V V 0 O M 0 V V M V V V M M M M M M M M V M V 9 V V 5: M V .. 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V O V O O V O M V O V V O V O V O M O O O M V 00 N I� V I� M r V I� V M LU O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O N N N N N N N N N N N N N N N N N O O 0 N N N N N N M M M r r r N N N N N N N N O O O V V V U U U U U U a a m m m m m m Wco m m m m m m s= s= s= 2 2 2 2 2 2 2 2 2 m m m m m m E E U U 'x 'x 'x 'x 'x 'x 'x 'x 'x Z a a a a a aO O O O O o Q Q Q Q Q m m m m m m a a a a a a O O O O O o v� v� v� v� v� v� v� v� v� v� v� v� v� v� v� Q Q Q Q Q m m m m m m > > > > > > > > > > > > > > > > > Q Q Q Q Q Q m m `m `m 2 2 H � � W Q 'Q W M M o0 00 00 00 00 00 00 00 W mmmmmm - - N > > > > > > > > > > > > > > > > > > > > > > > > > > QQ Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q m m O O O O O O O O N W C C C C C C C C C C C C C C C C C C C C C C C C C C C C U U U U U U U U (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 (4 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) U U U U U U U U U U U U U U U U U U U U U U U U UU U U Y Y Y Y Y Y Y Y 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o J 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1- 1- 1- 1- 1- 1- o0 00 � O O O I� r In In In In In In r r r r r r r r r In In In In In In N N N N N N N N Q M M M M M M M M M M M M M M M M M M M M M M M O O r r r r r r r r R Z o O o O o O (O (O O O O O O O O O O O O O O O O (O (O (O (O (O (O . r r r r r r r � UI V V V V V V V V V V V V V V V V V V V V V V V V V V M M N N N N N N N N C 0 N 2 Traffic Impact Analysis Kimley>))Horn Appendix C: Volume Development Worksheets and Signal Timing k:\wpb_tpto\brooks\npn\chris\boynton tcea\2021-10-13 the pierce tia.docx VOLUME DEVELOPMENT SHEET Boynton Beach Mixed-Use&Rail OCEAN AVENUE&FEDERAL HIGHWAY EXISTING GEOMETRY Growth Rate= 1.00% Peak Season= 1.05 1.05 Buildout Year= 2026 2026 Years= 8 8 e Northbound Southbound Eastbound Westbound LT Thru RT LT Thru RT LT Thru RT LT Thru RT Existing Volume on 11/13/2018 11 397 198 259 663 29 20 97 19 125 36 110 Peak Season Volume 12 417 208 272 696 30 21 102 20 131 38 116 Traffic Volume Growth 1 35 17 23 58 2 2 8 2 11 3 10 Committed Development 0 55 3 19 115 0 0 0 0 1 0 8 1.0%Traffic Volume Growth 1 35 17 23 58 2 2 8 2 11 3 10 Committed+1.0%Growth 1 90 20 42 173 2 2 8 2 12 3 18 Max(Committed+1.0%or Historic Growth) 1 90 20 42 173 2 2 8 2 12 3 18 Background Traffic Volumes 13 507 228 314 869 32 23 110 22 143 41 134 Project Traffic Inbound Traffic Assignment 30.0% 10.0% Inbound Traffic Volumes 6 2 Outbound Traffic Assignment 40.0% 10.0% 30.0% Outbound Traffic Volumes 23 6 17 Project Traffic 6 0 0 0 0 0 23 6 17 0 2 0 Total Traffic w/o RTOR 19 507 228 314 869 32 46 116 39 143 43 134 RTOR Reduction TOTAL TRAFFIC 19 507 168 314 869 0 46 116 0 143 43 74 e Northbound Southbound Eastbound Westbound LT Thru RT LT Thru RT LT Thru RT LT Thru RT Existing Volume on 11/13/2018 25 563 147 227 525 45 37 70 36 214 96 202 Peak Season Volume 26 591 154 238 551 47 39 74 38 225 101 212 Traffic Volume Growth 2 49 13 20 46 4 3 6 3 19 8 18 Committed Development 0 167 5 18 130 0 0 0 0 5 0 24 1.0%Traffic Volume Growth 2 49 13 20 46 4 3 6 3 19 8 18 Committed+1.0%Growth 2 216 18 38 176 4 3 6 3 24 8 42 Max(Committed+1.0%or Historic Growth) 2 216 18 38 176 4 3 6 3 24 8 42 Background Traffic Volumes 28 807 172 276 727 51 42 80 41 249 109 254 Project Traffic Inbound Traffic Assignment 30.0% 10.0% Inbound Traffic Volumes 16 5 Outbound Traffic Assignment 40.0% 10.0% 30.0% Outbound Traffic Volumes 9 2 7 Project Traffic 16 0 0 0 0 0 9 2 7 0 5 0 Total Traffic w/o RTOR 44 807 172 276 727 51 51 82 48 249 114 254 RTOR Reduction TOTAL TRAFFIC A B C D E F G H I J K L M N 0 Input Data E-W Street:Ocean Ave COUNT DATE:2/12/2019 N-S STREET:S Federal Hwy CURRENT YEAR:2019 10/12/2021 TIME PERIOD:AM ANALYSIS YEAR:2026 GROWTH RATE: 1.51% PSF: 1 SIGNAL ID:46350 Intersection Volume Development Eastbound Westbound Northbound Southbound Left Thru Right' Left Thru Right Left'Thru RightLeft Thru Right Existing Volume 10 19 20 61 19 73 19 350 41+' 226 862 12 Diversions 0% 0% 0% 0% 0% 0% 0% 0% 0%.': 0% 0% 0% Peak Season Volume 10 19 20 : 61 19 73 19 350 41 226 862 12 Committed Developments Type %Complete Villages of East Ocean 0 0 0 0 0 3 0 20 0 9 52 0 Res 0% Alta at Boynton Village 0 0 0 0 0 0 0 1 0 0 6 0 Res 30% Riverwalk Plaza 0 0 0 1 0 0 0 8 3 0 4 0 NR 70% Ocean 95 Exchange Park 0 0 0 0 0 0 0 4 0 r 0 1 0 NR 25% 211 E.Ocean Avenue Restaurant 0 0 0 0 0 1 0 1 0 1 1 0 NR 0% Ocean One 0 0 0 0 0 4 0 26 0 8 59 0 NR 0% Ocean Breeze East 0 0 0 0 0 1 0 1 0 3 5 0 Res 0% Total Committed Developments 0 0 0 1 0 9 0 61 3 21 128 0 Total Committed Residential 0 0 0 0 0 4 0 22 0 12 63 0 Total Committed Non-Residential 0 0 0 1 0 5 0 39 3 9 65 0 Double Count Reduction 0 0 0 0 0 1 0 6 0 2 13 0 Total Discounted Committed 0 0 0 1 0 8 0 55 3 19 115 0 Historical Growth 1 2 2 7 2 8 2 39 5 25 95 1 Comm Dev+1%Growth 1 1 1 5 1 13 1 80 6 35 177 1 Growth Volume Used 1 2 2 7 2 13 + 2 80 6 35 177 1 Total Volume 11 21 22 68 21 86 21 430 47 261 1039 13 Input Data E-W Street:Ocean Ave COUNT DATE:2/12/2019 N-S STREET:S Federal Hwy CURRENT YEAR:2019 10/12/2021 TIME PERIOD:PM ANALYSIS YEAR:2026 GROWTH RATE: 1.51% PSF: 1 SIGNAL ID:46350 Intersection Volume Development Eastbound Westbound Northbound Southbound Left Thou Right' Left Thru Right Left iThru Right; Left Thru Right Existing Volume 18 21 25 '114 51 246 36 i 781 70 243 526 13 Diversions 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% Peak Season Volume 18 21 25 114 51 246 36 '781 70 243 526 13 Committed Developments Type %Complete Villages of East Ocean 0 0 0 0 0 12 0 r 74 0 9 52 0 Res 0% Alta at Boynton Village 0 0 0 0 0 0 0 6 0 0 4 0 Res 30% Riverwalk Plaza 0 0 0 5 0 0 0 14 5 0 16 0 NR 70% Ocean 95 Exchange Park 0 0 0 0 0 0 0 1 0 , 0 4 0 NR 25% 211 E.Ocean Avenue Restaurant 0 0 0 0 0 1 0 1 0 1 1 0 NR 0% Ocean One 0 0 0 0 0 12 0 86 0 'i 9 65 0 NR 0% Ocean Breeze East 0 0 0 0 0 2 0 5 0 1 3 0 Res 0% Total Committed Developments 0 0 0 5 0 27 0 187 5 20 145 0 Total Committed Residential 0 0 0 0 0 14 0 85 0 10 59 0 Total Committed Non-Residential 0 0 0 5 0 13 0 102 5 10 86 0 '1 Double Count Reduction 0 0 0 0 0 3 0 20 0 2 15 0 Total Discounted Committed 0 0 0 5 0 24 0 167 5 18 130 0 Historical Growth 2 2 3 13 6 27 4 86 8 27 58 1 Comm Dev+1%Growth 1 2 2 13 4 42 3 223 10 36 168 1 Growth Volume Used 2 2 3 13 6 42 4 223 10 36 168 1 Total Volume 20 23 28 127 57 288 40 1004 80 279 694 14i VOLUME DEVELOPMENT SHEET Boynton Beach Mixed-Use&Rail BOYNTON BEACH BOULEVARD&FEDERAL HIGHWAY EXISTING GEOMETRY Growth Rate= 1.00% Peak Season= 1.1 1.1 Buildout Year= 2026 2026 Years= 6 6 e Northbound Southbound Eastbound Westbound LT Thru RT LT Thru RT LT Thru RT LT Thru RT Existing Volume on 03/18/2020 142 286 9 17 561 122 116 51 277 29 42 12 Peak Season Volume 156 315 10 19 617 134 128 56 305 32 46 13 Traffic Volume Growth 10 19 1 1 38 8 8 3 19 2 3 1 Committed Development 70 9 0 0 5 28 17 0 36 0 0 0 1.0%Traffic Volume Growth 10 19 1 1 38 8 8 3 19 2 3 1 Committed+1.0%Growth 80 28 1 1 43 36 25 3 55 2 3 1 Max(Committed+1.0%or Historic Growth) 80 28 1 1 43 36 25 3 55 2 3 1 Background Traffic Volumes 236 343 11 20 660 170 153 59 360 34 49 14 Project Traffic Inbound Traffic Assignment 20.0% Inbound Traffic Volumes 4 Outbound Traffic Assignment 40.0% 20.0% Outbound Traffic Volumes 23 11 Project Traffic 23 0 0 0 4 0 11 0 0 0 0 0 Total Traffic w/o RTOR 259 343 11 20 664 170 164 59 360 34 49 14 RTOR Reduction TOTAL TRAFFIC 259 343 0 20 664 110 164 59 300 34 49 0 e Northbound Southbound Eastbound Westbound LT Thru RT LT Thru RT LT Thru RT LT Thru RT Existing Volume on 03/18/2020 383 718 25 21 502 132 222 56 293 12 83 22 Peak Season Volume 421 790 28 23 552 145 244 62 322 13 91 24 Traffic Volume Growth 26 49 2 1 34 9 15 4 20 1 6 1 Committed Development 80 14 0 0 16 29 37 0 102 0 0 0 1.0%Traffic Volume Growth 26 49 2 1 34 9 15 4 20 1 6 1 Committed+1.0%Growth 106 63 2 1 50 38 52 4 122 1 6 1 Max(Committed+1.0%or Historic Growth) 106 63 2 1 50 38 52 4 122 1 6 1 Background Traffic Volumes 527 853 30 24 602 183 296 66 444 14 97 25 Project Traffic Inbound Traffic Assignment 20.0% Inbound Traffic Volumes 11 Outbound Traffic Assignment 40.0% 20.0% Outbound Traffic Volumes 9 4 Project Traffic 9 0 0 0 11 0 4 0 0 0 0 0 Total Traffic w/o RTOR 536 853 30 24 613 183 300 66 444 14 97 25 RTOR Reduction TOTAL TRAFFIC A B C D E F G H I J K L M N 0 Input Data E-W Street:Boynton Beach Blvd COUNT DATE:4/5/2017 Report Created N-S STREET:Federal Hwy CURRENT YEAR:2017 10/12/2021 TIME PERIOD:AM ANALYSIS YEAR:2026 GROWTH RATE:% PSF: 1 SIGNAL ID:46225 Intersection Volume Development Eastbound Westbound Northbound Southbound Left Thru Right Left Thru Right Left Thru Right Left Thru Right Diversions ':0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% Peak Season Volume 0 0 0 0 0 0 0 0 0 0 0 0 Committed Developments Type %Complete Forest Park Elem. 1 0 0 0 0 0 0 1 0 0 1 2 NR 75% Renaissance Commons Com 0 0 0 0 0 0 1 0 0 0 0 0 NR 75% Alta at Boynton Village 9 0 9 0 0 0 2 0 0 0 0 2 Res 0% Riverwalk Plaza 0 0 1 + 0 0 0 3 8 0 0 4 0 NR 70% Ocean 95 Exchange Park 1 0 1 0 0 0 5 0 0 0 0 7 NR 0% 211 E.Ocean Avenue Restaurant 1 0 1 0 0 0 1 0 0 1 0 0 1 NR 0% Ocean One 7 0 26 0 0 0 59 0 0 0 0 17 NR 0% Total Committed Developments 19 0 38 0 0 0 71 9 0 0 5 29 Total Committed Residential 9 0 9 0 0 0 2 0 0 0 0 2 Total Committed Non-Residential 10 0 29 0 0 0 69 9 0 0 5 27 Double Count Reduction 2 0 2 0 0 0 1 0 0 0 0 1 Total Discounted Committed 17 0 36 0 0 0 70 9 0 0 5 28 Historical Growth #VALUEI #### ######### #### '#### #### #####1#### #VALUEI #VALUE1 Comm Dev+1%Growth 0 0 0 0 0 0 0 0 0 0 0 0 Growth Volume Used 0 0 0 0 0 0 i 0 0 0 0 0 0 Total Volume 0 0 0 0 0 0 0 0 0 0 0 0 Input Data E-W Street:Boynton Beach Blvd COUNT DATE:4/5/2017 Report Created N-S STREET:Federal Hwy CURRENT YEAR:2017 10/12/2021 TIME PERIOD:PM ANALYSIS YEAR:2026 GROWTH RATE:% PSF: 1 SIGNAL ID:46225 Intersection Volume Development Eastbound Westbound Northbound Southbound Left Thru Right Left Thru Right Left Thru Right Left Thru Right Diversions ':0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% Peak Season Volume 0 0 0 0 0 0 0 0 0 0 0 0 Committed Developments Type %Complete Forest Park Elem. 1 0 0 0 0 0 0 0 0 0 0 1 NR 75% Renaissance Commons Com 0 0 1 0 0 0 1 0 0 0 0 0 NR 75% Alta at Boynton Village 5 0 5 0 0 0 9 0 0 0 0 9 Res 0% Riverwalk Plaza 0 0 5 0 0 0 5 14 0 0 16 0 NR 70% Ocean 95 Exchange Park 6 0 5 0 0 0 1 0 0 0 0 1 NR 0% 211 E.Ocean Avenue Restaurant 1 0 1 0 0 0 1 0 0 0 0 1 NR 0% Ocean One 25 0 86 0 0 0 65 0 0 0 0 19 NR 0% Total Committed Developments 38 0 103 0 0 0 '- 82 14 0 0 16 31 Total Committed Residential 5 0 5 0 0 0 9 0 0 0 0 9 Total Committed Non-Residential 33 0 98 0 0 0 73 14 0 0 16 22 Double Count Reduction 1 0 1 0 0 0 2 0 0 0 0 2 Total Discounted Committed 37 0 102 0 0 0 80 14 0 0 16 29 Historical Growth 9.63778E+41 0 0 0 0 0 I' 0 0 0 0 0 9.63778E+41 Comm Dev+1%Growth 9.63778E+41 0 0 0 0 0 0 0 0 0 0 9.63778E+41 Growth Volume Used 0 0 0 0 0 0 0 0 0 0 0 0 Total Volume 1 0 0 0 0 0 0 0 0 0 0 1 Page 1 of 5 Palm Beach County Signal Timing Sheet 3/13/2018 46225 : 4090-Boynton Beach Bl and Federal Hwy(Standard File) Phase[1.1.1] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 (NL) (ST) (EL) (WT) (SL) (NT) (WL) (ET) Walk 7 7 7 7 Ped Clearance 1824 20 26 m..m............... Min Green 4 20 4 6 4 20 4 6 5 W3.5 5 5 5 5 m..m..m............ Passage 2 3.5 3 2 2 3.5 2 3 1 1 1 1 1 Maxl 25 45 35 15 10 45 15 35 25 5 25 25 25 Max2 50 50 50 50 50 ..........,.Yellow 4 4 4 4 4 4 4 4 3.5 .5 3.5 3.5 3.5 Red 2 2 2 2.5 2 2 2 2.5 1.5 .5 1.5 Phase Option[1.1.2] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 (NL) (ST) (EL) (WT) (SL) (NT) (WL) (ET) Enable ONPON ON ON ON ON ON ON Auto Entry ON ON Auto Exit ON NonActl .................................... Non Act2 Lock Call ON ON ON ON ON ON ON ON ON Min Recall ON Max Recall ..m..m..m..m..m..m... Ped Recall Dual En ON ON ON ON Sim Ga Enable ON ON ON ON ON ON ON ON ON ON ON ON Rest In Walk Detector,Vehicle Parameters 1-16[5.1] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 (NBLI) (SBTI) (EBLI)(WBT1) (SBL1) (NBT1)(WBL1)(EBT1) Call Phase 1 2 1 3 4 1 5 6 7 8 Switch Phase 8 4 Detector,Vehicle Parameters 17-32[5.1] 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Call Phase Switch Phase Dela Time Detector,Vehicle Parameters 33-48[5.1] 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 ECall Phase Switch Phase ............... Dela Time Detector,Vehicle Parameters 49-64[5.1] 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 �DelayEe Approved By: lgao Date: http://172.25.20.52/StreetWise2WS/TimingSheetPaImBeach.aspx 3/13/2018 Page 2 of 5 Palm Beach County System Timing Sheet 3/13/2018 46225 : 4090-Boynton Beach Bl and Federal Hwy(Standard File) TB Coor,Day Plan[4.4] Day Plan Table 1 1 1 1 2 1 3 1 4 1 5 6 1 7 1 8 1 9 1 10 1 11 1 12 1 13 1 14 1 15 1 16 Hour 1 1 6 9 16 19 22 Minute 30 Action 100 2 1 3 4 100 Day Plan Table 2 1 1 1 2 1 3 1 4 1 5 6 1 7 1 8 1 9 1 10 1 11 1 12 1 13 1 14 1 15 1 16 Hour 9 20 i Minute Action 100 1 100 Day Plan Table 3 1 2 3 4 5 6 1 7 8 9 10 11 12 13 14 15 16 Hour 9 20 m..m..m..m..m..m... Minute Action 100 1 100 Coordination,Pattern 1-16[2.1]/Coordination,Alt Tables+[2.6] Pattern 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Cycle Time 155 155 160 120 155 155 160 120 .---m m, - m.._ m m,-----m m,-- ---i m,-- m,m,m,m.--- m,m,m9 Offset Time 123 125 3 101 96 96 49 1 4 Slit Number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Seq Number 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Ph t Alt Ph Time Alt 1 2 3 4 Coordination,Splits[2.7.1] Split Table 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Time 30 50 35 40 18 62 20 55 Mode NON MAX NON NON NON MAX NON NON NON NON NON NON NON NON NON NON Coord-Ph ON Split Table 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 1 15 16 Time 18 71 26 40 16 73 16 50 Mode NON MAX i NON NON NON MAX NON NON NON NON NON NON NON NON NON NON Co -Ph ON Split Table 3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 �CoordPh 32 60 28 40 19 73 20 48 =..m,m,m,m,m,m,m m,m,m,m,m,m _.m,m,m,m m,m,m,m,m,m,m m,m,m,m,m.m,m m,m,m,m,m,m.m m,m,m,m,m,mm,m,m,m,m,m,m, m,m,m,m.m,m,m,m,m,m,m,m.m,m,m,m,m,m,m,m..m... NON MAX NON NON NON MAX NON NON NON NON NON NON NON NON NON NON ON Split Table 4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 [�� 22 40 23 35 16 46 20 38 .m..m..m..m..m..m.. NON MAX NON NON NON MAX NON NON NON ON NON NON NON NON NON NON ON Split Table 5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 �CoordPh NON MAX NON NON NON MAX NON NON NON NON NON NON NON NON NON NON ON Split Table 6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 �CoordPh ..m..m.,m.,m.,m..m... NON MAX NON NON NON MAX NON ON NON NON NON NON NON NON NON NO ON Approved By: lgao Date: http://172.25.20.52/StreetWise2WS/TimingSheetPaImBeach.aspx 3/13/2018 Page 3 of 5 Palm Beach County Preempt&Overlap Timing Sheet 3/13/2018 46225 : 4090-Boynton Beach Bl and Federal Hwy(Standard File) Preemption Tim es[3.1]/Phases[3.2]/Options[3.3] Preemption Times+[3.4]/Overlaps+[3.5]/Options+[3.6] Channel 1 1 2 3 4 5 6 Preempt 1 2 3 4 5 6 Lock Input ON ON ON ON ON Enable -------------------------- .�.....��.......�� T e RAIL EMERG EMERG EMERG EMERG EMERG Override Flash ON i ON ON ON ON Override Fh'her_ Skip Track Flash Dwell Volt Mon Flash Link Coord in Preem t ..m..m..m..m..m.....m..m..m..m.m. .m..m..m..m..m..m..m..m.. ..m..m..m..m..m..m..m..m... DelaMax2 .m..m..m..m..m..m..m..m.. ..m..m..m..m..m..m..m..m.., Min Duration Return Max/Min MAX MAX MAX MAX MAX MAX m..m..m..m..m..m..m..m..m..m..m....m..m..m,,,m„m, ..m..m..m..m..m..m..m..m.. Min Green Extend Dwell Min Walk Pattem Ped ClearOu ut Mode TS2 TS2 TS2 TS2 TS2 TS2 Track Green Track Over 1 Min Dwell Track Over 2 m..m..m..m..m..m..m..m..m..,m..m..m..m..m..m..m..m..m.. Max Presence Track Over 3 Track RI Track Over 4 ______._____._...m..m..m..m..m..m..m..m...m..m..m..m..m..m..m..m.. Track R2 Track Over 5 Track R3 Track Over 6 Track R4 Track Over 7 , m,m,m,m,m,m m,m. .m..m..m..m, Dwell PI Track Over 8 Dwell P2 Track Over 9 m..m..m..m..m.. .�.....� ..m..m..m..m..m..m..m................................. Dwell P3 Track Over 10 ................-- .m..m..m..m..m..m..m..m....m..m..m..m..m..m..m..m..,_..m..m..m..m..m..m..m................................ . Dwell P4 Track Over 11 Dwell P5 Track Over 12 ...m..m..m..m..m..m..m..m...m..m..m..m..m..m..m..m..0 Dwell P6 Dwell Over 1 Dwell P7 Dwell Over 2 Dwell P8 Dwell Over 3 ! ------------------------------------------------------- Dwell P9 Dwell Over 4 Dwell P10 Dwell Over 5 Dwell PI l Dwell Over 6 Dwell P12 Dwell Over 7 ..m..m..m..m..m. ...m..m..m..m..m..m..m..m...m..m..m..m..m..m..m..m..0 Dwell Pedl Dwell Over 8 ______ ______.,m,m,m,m,m, m..m, ..m..m..m..m. Dwell Ped2 Dwell Over 9 .,______ m..m..m..m..m.. ..m..m..m..m..m.,m..m..m..m..m.,,m,, ...,...,...,...,...,...,...,...,. ..,...,...,...,...,...,...,...,... Dwell Ped3 Dwell Over 10 .....____._ ..,.._ ..m..m..m..m..m.. .m..m..m..m..m..m..m..m..m..m..m..m..m..m..m..m..m..m.. Dwell Ped4 Dwell Over 11 Dwell Peds Dwell Over 12 Dwell Ped6 i i .m..m..m..m..m..m..m..m....m..m..m..m..m..m..m..m..,_..m..m..m..m..m..m..m..m...m..m..m..m..m..m..m..m..m.. Ped Clear Dwell Ped? Yellow ...m..m..m..m..m..m..m..m...m..m..m..m..m..m..m..m..0 Dwell Ped8 Red Exit RI Return Min/Max Exit R2 Dela Inh .......................... m..m..m..m..m..m..m..m..m. Exit R3 Exit Time Exit R4 All Red B4 Overlap Program Parameters[1.5.2.1] Overlap Included Phases Modifer Phases Type Green Yellow Red Overla 1 NORMAL 3 5 1 5 ............... m,m.m,m, m,m,m.m.. m,m,m,m,m m,m.m,m,m m,m,m,m,m.. .m,m,m,m,m m,m,m.m,m m,m,m,m,m.m.m,m,m,m, m,m,m.m,m,m,m,m,m m,m.m,m,m,m,m,m,m m.m, m,m,m,m,m,m,.m, m,m,m,m,m,m,m... Overlap 2 NORMAL 3.5 1.5 ................ Overla 3 NORMAL 3.5 1.5 a..... ,...,. m..m..m.. .m,m.m..m.. Overla 4 I NORMAL _ 3.5 1.5 Overlap 5 NORMAL 3.5 1.5 ..m..m..m..m....m..m..m..m.. .m..m..m..m..m. Overla 6 NORMAL 3.5 1.5 Overla 7 NORMAL 3.5 1.5 .m..m..m..m..m..i Overlap 8 NORMAL 3.5 1.5 ..m.,m.,m.,m...,m.,m.,m.,m.. .m.,m.,m.,m.,m.. Overla 9 NORMAL 3.5 1.5 Overla 10NORMAL 3.5 1.5 .m..m..m..m..m.,m..m..m..m..m.,m..m..m..m..m.....m..m..m..m..m.. Overla 11 NORMAL 3.5 1.5 Overlap 12 NORMAL 3.5 1.5 ..m..m..m..m..- Overla 13 NORMAL 3.5 1.5 .m..m..m..m..m..i Overla 14 NORMAL 3.5 1.5 Overlap 15 NORMAL 3.5 1.5 Overla 16 NORMAL 3.5 1.5 Approved By: lgao Date: http://172.25.20.52/StreetWise2WS/TimingSheetPaImBeach.aspx 3/13/2018 Page 4 of 5 Palm Beach County Alternate Timing Sheet 3/13/2018 46225 : 4090-Boynton Beach Bl and Federal Hwy(Standard File) Alternate Phase Program 1,Interval Times[1.1.6.1] Alternate Phase Program 2,Interval Times[1.1.6.1] M M 'a < XM ID a w H m a 3 x xto Mo v m s n n 3 1_4� 7 25 4 2 1 1 4 2030 4W21 jj 45 4 2 2 2 7 18 20 415 4 2 3 3 4 415 4 2.5 4 4 7 24 6 410 4 2 5 5 4 445 4 2 6 6 7 20 20 4 7 4 = 4 15 4 2 _ 7 8 7 26 6 4 25 4 2.5 8 Alternate Phase Program 3,Interval Times[1.1.6.1] Alternate Phase Program 4,Interval Times[1.1.6.1] CU d a 3 0 I A d H 'S r n Ill y i- — n M U3 L 4 2 33 4 2 1 1 4 2 20 4 2 1 18 20 3.5 45 4 2 2 2 7 18 20 3.5 45 4 2 2 ,mmmmmm m,m,m,m,m, .m.m,m,m,m,m,m,m,m.m,m, m,m,m,m,m.,m,m,m,m,m,m m,m,m, m,m,m..m..m, ..m.._=4 4 15 m,m,m,m.m..,m,m4m,m 2 3 3 4 4 16 4 2 3 mm,m,m,m,m,m m.m,m,m,m, m,m,m.m,m m..m,m,m,m m,m,m,m,m.m m,m,m,m.m..6 2 15 4 2 5 4 4 7 24 6 2 15 4 2.5 4 m. 4 2 10 4 2 5 5 4 2 10 4 2 5 mm m,m,m,.......m, m,m,m m,m,m.m,m,m m,m,m,m,... m,m,m,m,m,m,m.m,m,m,m m,m,m,m,.. .......... 6 7 20 20 35 45 4 2 6 20 20 3.5 45 4 2 6 4 2 15 4 2 7 7 4 2 15 4 2 7 8 7 26 6 3 25 4 26 6 3 25 4 2.5 8 Alternate Phase Program 5,Interval Times[1.1.6.1] 3 9 CU d c 3 a m 'D H - x x a m m n 10 n = n m °�' S 0,, 3 1 2 ..m..m.m,m,m, m,m,m.m.m m,m,m,m,m, .m.m,m,m,m,m,m,m,m.m,m, m,m,m,m,m.,m,m,m,m,m,m m,m,m, ..m..m..m, 3 4 5 6 ..m..m.m,m,m, m,m,m.m.m m,m,m,m,m, .m.m,m,m,m,m,m,m,m.m,m, m,m,m,m,m.,m,m,m,m,m,m m,m,m, 7 8 TB Coor,Day Plan[4.4] Day Plan Table 4 1 1 1 2 1 3 1 4 1 5 1 6 1 7 1 8 1 9 1 10 1 11 1 12 1 13 1 14 1 15 1 16 Hour 1 1 6 9 16 19 22 Minute 30 Action 100 2 1 3 4 100 Day Plan Table 5 1 2 1 3 1 4 1 5 1 6 1 7 1 8 1 9 1 10 1 11 1 12 1 13 1 14 1 15 1 16 Hour 6 9 16 19 22 .m..m..m..m..m..m.,m..m..m..m..m..m.. .m..m..m..m..m..m... .m..m..m..m..m..m..m.. Minute 30 Action 100 12 11 13 14 100 Day Plan Table 6 1 2 1 3 1 4 1 5 1 6 1 7 1 8 1 9 1 10 1 11 1 12 1 13 1 14 1 15 1 16 Hour Minute Action 100 Approved By: lgao Date: http://172.25.20.52/StreetWise2WS/TimingSheetPaImBeach.aspx 3/13/2018 Page 5 of 5 Palm Beach County Special System Timing Sheet 3/13/2018 46225 : 4090-Boynton Beach Bl and Federal Hwy(Standard File) Coordination,Splits[2.7.1] Split Table 7 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Time Mode NON MAX NON NON NON MAX NON NON NON NON NON NON NON NON NON NON .m..m..m..m..m..m..m.. ...m..m..m..m..m..m... Coord-Ph ON Split Table 8 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 �CoordPh .m..m..m..m..m..m.. NON MAX NON NON NON MAX NON NON NON NON NON NON NON NON NON NON ON Split Table 9 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 �Coord-Ph m..m..m..m..m..m..m.....m..m..m..m..m..m....m..m..m..m..m..m..m...m..m..m..m..m..m..m.,m..m..m..m..m..m..m..i m..m..m..m..m..m..m.. NON MAX NON NON NON �� NON NON NON NON NON NON NON NON ON Split Table 10 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 �CoordPh ..m,m m m m m,m m,m m m m m,m, m,m..m NOR- m, m,m m..m m m,m m,m m m m m,m m,m m m m.m,m m,m m m m m.m m,m m m m m,m.,m,m m m m m,m, ..m,m m m m,m,.m,m m m m m,m m,m m.m m m,m m,m m m.m m,m,m,m,m m m.m,m,m,m,m m m m.m, m,m.,. NON MAX NON NON NON MAX NON NON NON NON NON NON NON NON NON ON ON Split Table 11 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 �CoordPh 30 76 20 29 16 90 15 34 NON MAX NON NON NON MAX NON NON NON NON NON NON NON NON NON NON ON Split Table 12 F 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Time F..m,m , , mm m,m, m,m..mmmm, m,mm2..m mm,mm,mmm 85 3930 mmmmmm m.. ... Mode NON I MAX NON NON NON MAX NON NON NON NON NON NON NON NON NON NON Coord-Ph ON Split Table 13 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Time 40 63 25 32 19 84 22 35 .. m,...m,m,m,m, m,m,m..m,m,m,m m,m,m,m,m,m,m m,m,.§mL.m,m m,m,.gm .m.m m,m,.2m .m,...m,m,m,m,m,m,m, ..m,m,m,m,m,m,.m,m,m,m,m,m,m m,m,m,m,m,m,m m,m,m,m,m,m,m,m,m,m,m,m.m,m,m,m,m,m,m,m..m... Mode NON MAX NON NON NON MAX NON NON NON NON NON NON NON NON NON NON Coord-Ph ON Split Table 14 1 2 3 4 5 1 6 1 7 8 9 10 11 12 13 14 15 16 Time 22 40 23 35 1(�I 46 1 20 38 Mode NON MAX i NON NON NON MAX NON NON NON NON NON NON NON NON NON NON Co -Ph ON Split Table 15 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 �CoordPh NON MAX NON NON NON MAX NON NON NON NON NON NON NON NON NON NON ON Split Table 16 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 �CoordPh ..m..m.,m.,m.,m..m... NON MAX NON NON NON MAX NON ON NON NON NON NON NON NON NON NO ON Approved By: lgao Date: http://172.25.20.52/StreetWise2WS/TimingSheetPaImBeach.aspx 3/13/2018 J aagJ J �}U"'LLI ?l' n n n n It W D o D O D D D D Z A O O O O O O O O a �y W J a o O O o o o Q +zn.; m z ae 0. Z '..► N Z FW- t, s U H co d` r ki .., Q J 777, si ti Q W U Li D W N 4' 2 Z c 0 Ll �" O O O O O O p O N n tt tt ttt�t 7 t N f" Y s W � t-- aa ZI O O O O O O O 'LLI 1'S t fit' MIX O O O O O O O O M N N of of Wi. , O O O O O O O O N Z V44 , W � r ,69 S N N N N N In In N N J _ a W Y d C O O O O O O O O LL �: N N N Y N N N W J CC di d W W m EO Z .WC . LLI ag Q LLI O J Y W Q V � O � C Z Q IMI m Q Z J m J m J m J m T' 0 , W _ 3 Z w H m N W w Z W C mUJI w D Z W W W T rw to r� a � W m r a Z 03 LL W W Wgz p a 0 tr 0 d C3 o y LLI tj z 7c p z in Z i ~ ~ J z W w _ z a a o, c c Q a r LLI PA J d', o ' I- o tOJ p p z 5 Z Z Z Z Z Z Z Z Z Z Z W 3 z r r r m W r I N - O ONWOO d W Z z N',,. 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Yellow Time(s) 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 All-Red Time(s) 2.0 2.5 2.5 2.0 2.5 2.5 2.0 2.0 2.0 2.0 Lost Time Adjust(s) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Lost Time(s); 6.0 6.5 6.5 6.0 6.5 6.5 6.0 6.0 6.0 6.0 Lead/Lag Lead Lag Lag Lead Lag Lag Lead Lag Lead Lag Lead-Lag Optimize? Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Recall Mode None None None None None None None Max None Max Act Effct Green(s), 14.7 18.0 18.0 7.8 8.8 8.8 10.7 74.6 7.0 65.7 Actuated g/C Ratio 0.12 0.15 0.15 0.06 0.07 0.07 0.09 0.61 0.06 0.54 v/c Ratio 0.65 0.22 0.69 0.31 0.37 0.06 0.56 0.16II 0.21 0.44 Control Delay 67.1 49.7 16.9 64.7 64.6 0.4 62.6 13.0 62.8 18.9 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Delay 67.1 49.7 16.9 64.7 64.6 0.4 62.6 13.0 62.8 18.9 LOS E D B E E A E B E B! Approach Delay 33.8 55.5 29.1 20.0 Approach LOS C E C B Cycle Length: 155 Actuated Cycle Length: 121.5 Natural Cycle:95 Control Type: Semi Act-Uncoord Maximum v/c Ratio:0.69 Intersection Signal Delay:27.8 Intersection LOS: C Intersection Capacity Utilization 59.0% ICU Level of Service B Analysis Period(min) 15__, Splits and Phases: 1: Federal Highway&Boynton Beach Blvd 01 02 1' f 3 Him v t� .4 05 06 07 0 EXAM 2:03 pm 10/12/2021 Baseline Synchro 11 Report Page 1 Queues EX AM 1: Federal Highway & Boynton Beach Blvd 10/13/2021 ''t Lane Group Flow(vph) 139 61 332 35 50 14 170 353 21 817 v/c Ratio 0.65 0.22 0.69 0.31 0.37 0.06 0.56 0.16II 0.21 0.44 Control Delay 67.1 49.7 16.9 64.7 64.6 0.4 62.6 13.0 62.8 18.9 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Delay 67.1 49.7 16.9 64.7 64.6 0.4 62.6 13.0 62.8 18.9 Queue Length 50th(ft) 109 45 29 28 39 0 68 70 17 2051 Queue Length 95th(ft) 184 90 131 66 84 0 112 114 46 294 Internal Link Dist(ft) 1893 782 570 962 Turn Bay Length(ft) 230 300 190 300 280 Base Capacity(vph) 294 673 759 147 518 547 342 2163 147 1870 Starvation Cap Reductn _0 0 0 0 0 0 0 0 0 0 Spillback Cap Reductn 0 0 0 0 0 0 0 0 0 0 Storage Cap Reductn 0 0 0 0 0 0 0 0 0 0 Reduced v/c Ratio 0.47 0.09 0.44 0.24 0.10 0.03 0.50 0.16II 0.14 0.44 EXAM 2:03 pm 10/12/2021 Baseline Synchro 11 Report Page 2 HCM 6th Signalized Intersection Summary EX AM 1: Federal Highway & Boynton Beach Blvd 10/13/2021 Lane Configurations Traffic Volume(veh/h) 128 56 305 32 46 13 156 315 10 19617 134 Future Volume(veh/h) 128 56 305 32 46 13 156 315 10 19 617 134 Initial Q(Qb),veh 0 0 0 0 0 0 0 0 0 00 0 Ped-Bike Adj(A_pbT) 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Parking Bus,Adj 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Work Zone On Approach No No No No Adj Sat Flow,veh/h/In 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 Adj Flow Rate,veh/h 139 61 332 35 50 14 170 342 11 21 671 146 Peak Hour Factor 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 Percent Heavy Veh, % 2 2 2 2 2 2 2 2 2 2 2 2 Cap,veh/h 165 429 364 45 302 256 224 1908 61 29 1435 3112 Arrive On Green 0.09 0.23 0.23 0.03 0.16 0.16 0.06 0.54 0.54 0.02 0.49 0.49 Sat Flow,veh/h " 1781 1870 1585 1781 1870 1585 3456 3514 113 1781' 2903 631 Grp Volume(v),veh/h 139 61 332 35 50 14 170 173 180 21 410 407 Grp Sat Flow(s),veh/h/In 1781 1870 1585 1781 1870 1585 1728 1777 1850 1781' 1777 1757 Q Serve(g_s),s 10.1 3.4 26.8 2.6 3.0 1.0 6.4 6.5 6.5 1.5 20.0 20.0 Cycle Q Clear(g_c),s 10.1 3.4 26.8 2.6 3.0 1.0 6.4 6.5 6.5' 1.5; 20.0 20,0 Prop In Lane 1.00 1.00 1.00 1.00 1.00 0.06 1.00 0.36 Lane Grp Cap(c),veh/h 165 429 364 45 302 256 224 965 1004 29 878 869 V/C Ratio(X) 0.84 0.14 0.91 0.78 0.17 0.05 0.76 0.18 0.18 0.72 0.47 0.47 Avail Cap(c_a),veh/h 271 619 524 135 477 404 315 965 1004 135; 878 869 HCM Platoon Ratio 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Upstream Filter(I) 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Uniform Delay(d),s/veh 58.7 40.4 49.4 63.7 47.5 46.6 60.5 15.2 15.2 64.4 21.9 21.9 Incr Delay(d2), s/veh 11.6 0.2 15.8 24.7 0.3 0.1 6.6 0.4 0.4 28.51 1.8 18 Initial Q Delay(d3),sNeh 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 °l«ile BackOfQ(50%),veh/In: 51 1.6 12.2 1.5 1.4 0.4 3.0 2.7 2.9 0.9i 8.7 8,7 Unsig. Movement Delay,s/veh LnGrp Delay(d),s/veh 70.3 40.5 65.1 88.4 47.7 46.7 67.1 15.6 15.6 92.9 23.6 23,7 LnGrp LOS E D E F D D EB B F C C Approach Vol,veh/h 532 99 523 838 Approach Delay,s/veh 63.7 62.0 32.4 25.4 Approach LOS E E C C .,;i: 7 a„ ti,�a ay, s 1 t s s ,ss':• jt s, ty a t ''.,'l - s i t. a'. si ,t'"�.-{ i ts t 3 t, a s174 1 sl,asl 1 1, , Phs Duration(G+Y+Rc),s8.1 77.4 9.3 36.7 14.5 71.0 18.2 27.7 Change Period(Y+Rc),s__ 6.0 6.0 6.0 6.5 6.0 6.0 6.06.5 Max Green Setting(Gmax) s 10.0 67.0 10.0 43.5 12.0 65.0 20.0 33.5 Max Q Clear Time(g_c+I1),s 3.5 8.5 4.6 28.8 8.4 22.0 12.1 5.0 Green Ext Time(p-c),s 0.0 2.3 0.0 1.3 0.2 6.3 0.2 0.3 HCM 6th Ctrl Delay 39.3 HCM 6th LOS D EXAM 2:03 pm 10/12/2021 Baseline Synchro 11 Report Page 3 Timings EX AM 2: Ocean Avenue & Federal Highway 10/13/2021 t` '~ �.�> l,,:�+.f5.i��.tc�i�,�..+.ct� �;,:�r.15.w �'�,,,�"i.crS��t,s��.it+.1.� �i),�:r.1.cl�tl.il.il.il.it.il.il.il.il.il.il.il.i1.i11, Lane Configurations Traffic Volume(vph) 21 102 131 38 116 12 417 272 696 Future Volume(vph) 21 102 131 38 116 12 417 272 696 Turn Type Prot NA Prot NA Perm Prot NA Prot NA Protected Phases 7 4 3 8 5 2 1_ 6, Permitted!Phases 8 Detector Phase 7 4 3 8 8 5 2 1 6 Switch Phase Minimum Initial(s) 4.0 6.0 4.0 6.0 6.0 4.0 20.0 4.0 20.0 Minimum Split(s) 11.0 38.0 11.0 39.0 39.0 10.0 33.0 10.0 26.0 Total Split(s) 22.0 40.0 24.0 42.0 42.0 25.0 61.0 30.0 66.0 Total Split(%) 14.2% 25.8% 15.5% 27,1% 27,1% 16,1% 39.4% s 19.4% 42.6% YellowTime(s) 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0_. 4.0 All-Red Time(s) 3.0 3.0 3.0 3.0 3.0 2.0 2.0 2.0 2.0 Lost Time Adjust(s) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Lost Time(s); 7.0 7.0 7.0 7.0 7.0 6.0 6.0 6.0 6.0 Lead/Lag Lead Lag Lead Lag Lag Lead Lag Lead Lag Lead-Lag Optimize? Yes Yes Yes Yes Yes Yes Yes Yes Yes Recall Mode None None None None None None Max None Max Act Effct Green(s) 7.3 14.8 15.0 27.9 27.9 6.6 55.1 24.1 i 80.0 Actuated g/C Ratio 0.05 0.11 0.11 0.21 0.21 0.05 0.41 0.18 0.59 v/c Ratio 0.24 0.66 0.72 0.11 0.30 0.15 0.48 0.94 0.38 Control Delay 69.0 70.6 79.7 47.0 9.6 67.5 28.6 92.6 16.9 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Delay 69.0 70.6 79.7 47.0 9.6 67.5 28.6 92.6 16.9 LOS E E E D A E C F li B ' Approach Delay 70.4 46.8 29.3 37.5 Approach LOS E D C D Cycle Length: 155 Actuated Cycle Length: 135 Natural Cycle: 105 Control Type: Semi Act-Uncoord Maximum v/c Ratio:0.94 Intersection Signal Delay:38.6 Intersection LOS: D Intersection Capacity Utilization 68.8% ICU Level of Service C Analysis Period(min) 15__, Splliitts,�and Phases: 2: Ocean Avenue&Federal Highway �^ t02 fo 3 4= mom 05 • 06 07 08 e EXAM 2:03 pm 10/12/2021 Baseline Synchro 11 Report Page 4 Queues EX AM 2: Ocean Avenue & Federal Highway 10/13/2021 t` '~ �.�> l,,:�+.f5.i��.tc�i�,�..+.ct� �;,:�r.15.w �'�,,,�"i.crS��t,s��.it+.1.� �i),�:r.1.cl�tl.il.il.il.it.il.il.il.il.il.il.il.i1.i11, Lane Group Flow(vph) 23 133 142 41 126 13 679 296 790 v/c Ratio 0.24 0.66 0.72 0.11 0.30 0.15 0.48 0.94 0.38 Control Delay 69.0 70.6 79.7 47.0 9.6 67.5 28.6 92.6 16.9 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Delay 69.0 70.6 79.7 47.0 9.6 67.5 28.6 92.6 16.9 Queue Length 50th(ft) 20 110 122 31 0 11 211 263 168 Queue Length 95th(ft) 52 180 #213 67 56 36 290 #472 298 Internal Link Dist(ft) 918 1812 308 570 Turn Bay Length(ft) 110 250 250 180 150 Base Capacity(vph) 197 449 223 484 504 249 1409 315 2085' Starvation Cap Reductn _0 0 0 0 0 0 0 0 0 Spillback Cap Reductn 0 0 0 0 0 0 0 0 0 Storage Cap Reductn 0 0 0 0 0 0 0 0 0 Reduced v/c Ratio 0.12 0.30 0.64 0.08 0.25 0.05 0.48 0.94 0.38 # 95th percentile volume exceeds capacity,queue maybe longer. Queue shown is maximum after two cycles. EXAM 2:03 pm 10/12/2021 Baseline Synchro 11 Report Page 5 HCM 6th Signalized Intersection Summary EX AM 2: Ocean Avenue & Federal Highway 10/13/2021 Lane Configurations Traffic Volume(veh/h) 21 102 20 131 38 116 12 417 208 272 696 30 Future Volume(veh/h) 21 102 20 131 38 116 12 417 208 272 696 30 Initial Q(Qb),veh 0 0 0 0 0 0 0 0 0 0 0 0 Ped-Bike Adj(A_pbT) 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Parking Bus,Adj 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Work Zone On Approach No No No No Adj Sat Flow,veh/h/In 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 Adj Flow Rate,veh/h 23 111 22 142 41 126 13 453 226 296 757 33 Peak Hour Factor 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 Percent Heavy Veh, % 2 2 2 2 2 2 2 2 2 2 2 2 Cap,veh/h 31 140 28 168 317 269 21 990 490 320 2075 90 Arrive On Green 0.02 0.09 0.09 0.09 0.17 0.17 0.01 0.43 0.43 0.18 0.60 0.60 Sat Flow,veh/h " 1781 1516 300 1781 1870 1585 1781 2302 1140 1781' 3469 151 Grp Volume(v),veh/h 23 0 133 142 41 126 13 349 330 296 388 402 Grp Sat Flow(s),veh/h/In 1781 0 1816 1781 1870 1585 1781 1777 1665 1781' 1777 1843 Q Serve(g_s),s 1.6 0.0 9.2 10.0 2.4 9.2 0.9 17.8 18.0 20.9 14.3 14.4 Cycle Q Clear(g_c),s 1.6 0.0 9.2 10.0 2.4 9.2 0.9 17.8 18.0 20.9' 14.3 14.4 Prop In Lane 1.00 0.17 1.00 1.00 1.00 0.68 1.00 0.08 Lane Grp Cap(c),veh/h 31 0 168 168 317 269 21 764 716 320 1063 1103 V/C Ratio(X) 0.74 0.00 0.79 0.84 0.13 0.47 0.63 0.46 0.46 0.92 0.36 0.36 Avail Cap(c_a),veh/h 209 0 468 237 512 434 265 " 764 716 334 1063 1103 HCM Platoon Ratio 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Upstream Filter(I) 1,00 0.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Uniform Delay(d),s/veh 62.6 0.0 56.9 57.0 45.1 47.9 63.0 25.9 25.9 51.6 13.2 13.2 Incr Delay(d2), s/veh 28.6 0.0 8.1 17.2 0.2 1.3 27.7 2.0 2.1 29.8? 1.0 09 Initial Q Delay(d3),sNeh 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 °l«ile BackOfQ(50%),veh/In' 1.0 0.0 4.6 5.3 1.1 3.7 0.6 8.0 7,6 12.0 5.9 6,2 Unsig. Movement Delay,s/veh LnGrp Delay(d),s/teh 91.1 0.0 65.0 74.2 45.3 49.2 90.6 27.8 28.1 81.4 14.2 14:11 LnGrp LOS F A E E D D FC C F B B Approach Vol,veh/h 156 309 692 1086 Approach Delay,s/veh 68.8 60.2 29.1 32.5 Approach LOS E E C C .,;i: 7 a„ ti,�a ay, s 1 t s s ,ss':• jt s, ty a t ''.,'l - s i t. a'. si ,t'"�.-{ is 7 t, Phs Duration(G+Y+Rc),s29.0 61.0 19.1 18.8 7.5 82.5 9.2 28.7 Change Period(Y+Rc),s 6.0 6.0 7.0 7.0 6.0 6.0 7.0 7.0 Max Green Setting(Gmax) s 24.0 55.0 17.0 33.0 19.0 60.0 15.0 35.0 Max Q Clear Time(g_c+I1),s 22.9 20.0 12.0 11.2 2.9 16.4 3.6 11.2 Green Ext Time(p-c),s 0.;1 4.9 0.1 0.7 0.0 5.9 0.0 0.6 HCM 6th Ctrl Delay 37.8 HCM 6th LOS D EXAM 2:03 pm 10/12/2021 Baseline Synchro 11 Report Page 6 Timings EX PM 1: Federal Highway & Boynton Beach Blvd 10/13/2021 ''t "W, :' „ f ', i„ 6U Lane Configurations Traffic Volume(vph) 244 62 322 13 91 24 421 790 23 552 Future Volume(vph) 244 62 322 13 91 24 421 790 23 552 Turn Type pm+ptNA Perm pm+pt NA Perm Prot NA Prot NA Protected Phases 7 4 3 8 5 2 1_ 6 Permitted!Phases 4 4 8 8 Detector Phase 7 4 4 3 8 8 5 2 1 6 Switch Phase Minimum Initial(s) 4.0 6.0 6.0 4.0 6.0 6.0 4.0 20.0 4.0 20.0 Minimum Split(s) 10.0 39.5 39.5 10.0 37.5 37.5 10.0 33.0 10.0 31.0' Total Split(s) 28.0 48.0 48.0 20.0 40.0 40.0 32.0 73.0 19.0 60.0 Total Split(%) 17.5% 30.0% 30.0% 12:5% 25.0% 25.0% 20.0% 45.6% 11.9% 37.5% Yellow Time(s) 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 All-Red Time(s) 2.0 2.5 2.5 2.0 2.5 2.5 2.0 2.0 2.0 2.0 Lost Time Adjust(s) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Lost Time(s); 6.0 6.5 6.5 6.0 6.5 6.5 6.0 6.0 6.0 6.0 Lead/Lag Lead Lag Lag Lead Lag Lag Lead Lag Lead Lag Lead-Lag Optimize? Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Recall Mode None None None None None None None Max None Max Act Effct Green(s) 40.0 34.5 34.5 19.3 12.5 12.5 22.5 74.4 7.4 54.2 Actuated g/C Ratio 0.30 0.26 0.26 0.14 0.09 0.09 0.17 0.55 0.05 0.40 v/c Ratio 0.66 0.14 0`53 0.07 0.58 0.08 0.80 0.46 0.26 0.54 Control Delay 48.1 42.5 7.6 36.2 72.8 0.5 65.7 20.7 69.9 32.7 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.0 0.0 Total Delay 48.1 42.5 7.6 36.2 72.8 0.5 65.7 21.0 69.9 32.7 LOS D D A D E A E C E C Approach Delay 26.8 55.6 36.2 33.9 Approach LOS C E D C Cycle Length: 160' Actuated Cycle Length: 134.8 Natural Cycle:95 Control Type: Semi Act-Uncoord Maximum v/c Ratio:0.80 Intersection Signal Delay:34.3 Intersection LOS: C Intersection Capacity Utilization 67.5% ICU Level of Service C Analysis Period(min) 15__, Splliitts, and Phases: 1: Federal Highway&Boynton Beach Blvd f.- 03 -404 05 06 07 08 WWWWUM, -1 A&MMUNKSOMMMI 11 EX PM 3:36 pm 10/12/2021 Synchro 11 Report Page 1 Queues EX PM 1: Federal Highway & Boynton Beach Blvd 10/13/2021 ''t ti ,"4 �,jt�i st WILE (,,,� lilt+, iii ++i t�..:' r i!�� t 7: I�4 f I{i lil{'ty „IS f,t 'k,t s }.; f if ��, r r r � ,tfr;i! :,�« rs � , i f �s,'�ir41' I � �r�5 11 � ,,,+'tf'r 5��1�1�1�1�1�1�',� Lane Group Flow(vph) 265 67 350 14 99 26 458 889 25 758 v/c Ratio 0.66 0.14 0`53 0.07 0.58 0.08 0.80 0.46 0.26 0.54 Control Delay 48.1 42.5 7.6 36.2 72.8 0.5 65.7 20.7 69.9 32.7 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.0 0.0 Total Delay 48.1 42.5 7.6 36.2 72.8 0.5 65.7 21.0 69.9 32.7 Queue Length 50th(ft) 194 44 0 9 86 0 203 262 22 2651 Queue Length 95th(ft) 288 95 87 27 150 0 274 355 54 357 Internal Link Dist(ft) 1893 782 570 962 Turn Bay Length(ft) 230 300 190 300 280 Base Capacity(vph) 409 575 731 312 465 533 664 1946 171 1392 Starvation Cap Reductn 0 0 0 0 0 0 0 467 0 0 Spillback Cap Reductn 0 0 0 0 0 0 0 0 0 0 Storage Cap Reductn 0 0 0 0 0 0 0 0 0 0 Reduced v/c Ratio 0.65 0.12 0.48 0.04 0.21 0.05 0.69 0.60 0.15 0.54 EX PM 3:36 pm 10/12/2021 Synchro 11 Report Page 2 HCM 6th Signalized Intersection Summary EX PM 1: Federal Highway & Boynton Beach Blvd 10/13/2021 s,1 ..�qru� Lane Configurations Traffic Volume(veh/h) 244 62 322 13 91 24 421 790 28 23 552 145 Future Volume(veh/h) 244 62 322 13 91 24 421 790 28 23 552 145 Initial Q(Qb),veh 0 0 0 0 0 0 0 0 0 0 0 0 Ped-Bike Adj(A_pbT) 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Parking Bus,Adj 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Work Zone On Approach No No No No Adj Sat Flow,veh/h/In 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 Adj Flow Rate,veh/h 265 67 350 14 99 26 458 859 30 25 600 158 Peak Hour Factor 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 Percent Heavy Veh, % 2 2 2 2 2 2 2 2 2 2 2 2 Cap,veh/h 385 449 380 180 200 170 527 1905 67 32 1140 300 Arrive On Green 0.15 0.24 0.24 0.01 0.11 0.11 0.15 0.54 0.54 0.02 0.41 0.41 Sat Flow,veh/h " 1781 1870 1585 1781 1870 1585 3456 3503 122 1781' 2784 732 Grp Volume(v),veh/h 265 67 350 14 99 26 458 436 453 25 382 376 Grp Sat Flow(s),veh/h/In 1781 1870 1585 1781 1870 1585 1728 1777 1848 1781' 1777 1739 Q Serve(g_s),s 16.9 3.7 28.4 0.9 6.6 2.0 17.1 19.5 19.5 1.8 21.4 21.4 Cycle Q Clear(g_c),s 16.9 3.7 28.4 0.9 6.6 2.0 17.1 19.5 19.5'1 1.8? 21.4 21.4 Prop In Lane 1.00 1.00 1.00 1.00 1.00 0.07 1.00 0.42 Lane Grp Cap(c),veh/h 385 449 380 180 200 170 527 966 1005'1 32 728 712 V/C Ratio(X) 0.69 0.15 0.92 0.08 0.49 0.15 0.87 0.45 0.45 0.77 0.53 0.53 Avail Cap(c_a),veh/h 424 589 499 348 475 403 681 966 1005'1 176 728 712 HCM Platoon Ratio 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Upstream Filter(I) 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Uniform Delay(d),s/veh 41.9 39.5 48.9 51.5 55.5 53.4 54.6 18.2 18.2 64.4 29.3 29.3 Incr Delay(d2), s/veh 4.1 0.2 18.9 0.2 1.9 0.4 9.5 1.5 1.5 31.1 2.7 28 Initial Q Delay(d3),sNeh 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 °l«ile BackOfQ(50%),veh/In: 7.9 1�.8 13.2 0.4 3.2 0.8 8.1 8.4 8.7 1.1 9.7 9,5 Unsig. Movement Delay,s/veh LnGrp Delay(d),s/teh 46.0 39.6 67.8 51.7 57.4 53.8 64.1 19.7 19.6 95.51 32.0 32:1 LnGrp LOS D D E D E D EB B F C C Approach Vol,veh/h 682 139 1347 783 Approach Delay,s/veh 56.6 56.1 34.8 34.1 Approach LOS E E C C .,;i: 7 ri„ ti,�l=`iY�'z `1 tst iii':•. jt s, f4 i�t ''.,'l - f i t. i�'� si ,t'i.-{ i ,f 7 t, Phs Duration(G+Y+Rc),s 8.4 77.7 7.6 38.1 26.1 60.0 25.1 20.6 Change Period(Y+Rc),s 6.0 6.0 6.0 6.5 6.0 6.0 6.0 6.5 Max Green Setting(Gmax) s 13.0 67.0 14.0 41.5 26.0 54.0 22.0 33.5 Max Q Clear Time(g_c+I1),s 3.8 21.5 2.9 30.4 19.1 23.4 18.9 8.6 Green Ext Time(p-c),s 0.0 5.9 0.0 1.3 1.0 5.4 0.2 0.6 HCM 6th Ctrl Delay 40.6 HCM 6th LOS D EX PM 3:36 pm 10/12/2021 Synchro 11 Report Page 3 Timings EX PM 2: Ocean Avenue & Federal Highway 10/13/2021 t` '~ 06 ` ' �' E1: 1Pts, Lane Configurations Traffic Volume(vph) 39 74 225 101 212 26 591 238 551 Future Volume(vph) 39 74 225 101 212 26 591 238 551 Turn Type pm+ptNA pm+pt NA Perm Prot NA Prot " NA Protected Phases 7 4 3 8 5 2 1_ 6, Permitted!Phases 4 8 8 Detector Phase 7 4 3 8 8 5 2 1 6 Switch Phase Minimum Initial(s) 4.0 6.0 4.0 6.0 6.0 4.0 20.0 4.0 20.0 Minimum Split(s) 11.0 38.0 11.0 39.0 39.0 10.0 33.0 10.0 26.0 Total Split(s) 21.0 40.0 21.0 40.0 40.0 24.0 72.0 27.0 75.0 Total Split(%) 13.1% 25.0% 13,1% 25:0% 25.0% 1+5.0% 45.0% s 16.9% 46.9% YellowTime(s) 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0_. 4.0 All-Red Time(s) 3.0 3.0 3.0 3.0 3.0 2.0 2.0 2.0 2.0 Lost Time Adjust(s) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Lost Time(s); 7.0 7.0 7.0 7.0 7.0 6.0 6.0 6.0 6.0 Lead/Lag Lead Lag Lead Lag Lag Lead Lag Lead Lag Lead-Lag Optimize? Yes Yes Yes Yes Yes Yes Yes Yes Yes Recall Mode None None None None None None Max None Max Act Effct Green(s) 21.8 13.8 33.6 22.5 22.5 7.7 66.0 21.0 84.3 Actuated g/C Ratio 0.15 0.10 0.24 0.16 0.16 0.05 0.47 0.15 0.60 v/c Ratio 0.19 0.65 0.88 0.37 0.52 0.29 0.50 0.98 0.31 Control Delay 42.9 69.6 78.9 58.6 10.8 72.3 26.8 110.7 15.8 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Delay 42.9 69.6 78.9 58.6 10.8 72.3 26.8 110.7 15.8 LOS D E E E B E C F li B ' Approach Delay 62.8 48.3 28.3 42.8 Approach LOS E D C D Cycle Length: 160' Actuated Cycle Length: 140.9 Natural Cycle:95 Control Type: Semi Act-Uncoord Maximum v/c Ratio:0.98 Intersection Signal Delay:40.5 Intersection LOS: D Intersection Capacity Utilization 69.4% ICU Level of Service C Analysis Period(min) 15__, Splits and Phases: 2: Ocean Avenue&Federal Highway 2 403 I_ 4_ o5 i 06 07 08 EX PM 3:36 pm 10/12/2021 Synchro 11 Report Page 4 Queues EX PM 2: Ocean Avenue & Federal Highway 10/13/2021 t` '~ 06 ` �' E1: 1Pts, Lane Group Flow(vph) 42 121 245 110 230 28 809 259 650 v/c Ratio 0.19 0.65 0.88 0.37 0.52 0.29 0.50 0.98 0.31 Control Delay 42.9 69.6 78.9 58.6 10.8 72.3 26.8 110.7 15.8 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Delay 42.9 69.6 78.9 58.6 10.8 72.3 26.8 110.7 15.8 Queue Length 50th(ft) 30 95 1`98 93 0 25 257 240 159 Queue Length 95th(ft) 63 164 #348 159 79 60 341 #444 228 Internal Link Dist(ft) 918 1812 308 570 Turn Bay Length(ft) 110 250 250 180 150 Base Capacity(vph) 301 425 278 436 547 226 1620 263 2095'1 Starvation Cap Reductn _0 0 0 0 0 0 0 0 0 Spillback Cap Reductn 0 0 0 0 0 0 0 0 0 Storage Cap Reductn 0 0 0 0 0 0 0 0 0 Reduced v/c Ratio 0.14 0.28 0.88 0.25 0.42 0.12 0.50 0.98 0.31 # 95th percentile volume exceeds capacity,queue maybe longer. Queue shown is maximum after two cycles. EX PM 3:36 pm 10/12/2021 Synchro 11 Report Page 5 HCM 6th Signalized Intersection Summary EX PM 2: Ocean Avenue & Federal Highway 10/13/2021 s,1 ..�qru� Lane Configurations Traffic Volume(veh/h) 39 74 38 225 101 212 26 591 154 238? 551 47 Future Volume(veh/h) 39 74 38 225 101 212 26 591 154 238 551 47 Initial Q(Qb),veh 0 0 0 0 0 0 0 0 0 0 0 0 Ped-Bike Adj(A_pbT) 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Parking Bus,Adj 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Work Zone On Approach No No No No Adj Sat Flow,veh/h/In 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 Adj Flow Rate,veh/h 42 80 41 245 110 230 28 642 167 259 599 51 Peak Hour Factor 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 Percent Heavy Veh, % 2 2 2 2 2 2 2 2 2 2 2 2 Cap,veh/h 199 108 55 262 306 260 36 1317 342 267 1995 170 Arrive On Green 0.03 0.09 0.09 0.10 0.16 0.16 0.02 0.47 0.47 0.15 0.60 0.60 Sat Flow,veh/h " 1781 1166 597 1781 1870 1585 1781 2791 725 1781' 3315 282 Grp Volume(v),veh/h 42 0 121 245 110 230 28 408 401 259 321 329 Grp Sat Flow(s),veh/h/In 1781 0 1763 1781 1870 1585 1781 1777 1740 1781' 1777 1820 Q Serve(g_s),s 3.0 0.0 9.4 14.0 7.3 19.9 2.2 22.1 22.1 20.2 12.3 12.3 Cycle Q Ciear(g_c),s 3.0 0.0 9.4 14.0 7.3 19.9 2.2 22.1 ii 22.1 20.2 12.3 12.3 Prop In Lane 1.00 0.34 1.00 1.00 1.00 0.42 1.00 0.15 Lane Grp Cap(c),veh/h 199 0 163 262 306 260 36 838 821 267 1069 1095 V/C Ratio(X) 0.21 0.00 0.74 0.93 0.36 0.89 0.79 0.49 0.49 0.97 0.30 0.30 Avail Cap(c_a),veh/h 326 0 416 262 441 374 229 838 821 267 1069 1095 HCM Platoon Ratio 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Upstream Filter(I) 1,00 0.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Uniform Delay(d),s/veh 55.3 0.0 61.9 53.8 52.0 57.2 68.3 25.4 25.4 59.1 13.5 13.6 Incr Delay(d2), s/veh 0.5 0.0 6.5 38.3 0.7 16.3 30.5 2.0 2.1 46.3 0.7 0.7 Initial Q Delay(d3),sNeh 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 °l«ile BackOfQ(50%),veh/In' 1.4 0.0 4.5 47 3.5 9.1 1.3 9.8 9.7 12.6 5.1 53 Unsig. Movement Delay,s/veh LnGrp Delay(d),s/teh 55.9 0.068.4 92.0 52.7 73.5 98.8 27.4 27.5 105.5 143 14:3 LnGrp LOS E A E F D EFC C F B B Approach Vol,veh/h 163 585 837 909 Approach Delay,s/veh 65.2 77.4 29.8 40.2 Approach LOS E E C D .,;i: 7 ri„ ti,�l=`iY�'z `1 tst iii':•. jt s, f4 i�t ''.,'l - f i t. i�'� si ,t'i.-{ i ,f 7 t, Phs Duration(G+Y+Rc),s27.0 72.0 21.0 19.9 8.8 90.2 11.0 29.9 Change Period(Y+Rc),s 6.0 6.0 7.0 7.0 6.0 6.0 7.0 7.0 Max Green Setting(Gmax) s 21.0 66.0 14.0 33.0 18.0 69.0 14.0 33.0 Max Q Clear Time(g_c+I1),s 22.2 24.1 16.0 11.4 4.2 14.3 5.0 21.9 Green Ext Time(p-c),s 0.0 6.2 0.0 X0.6 0.0 46 0.0 1.0 HCM 6th Ctrl Delay 47.1 HCM 6th LOS D EX PM 3:36 pm 10/12/2021 Synchro 11 Report Page 6 Timings FY AM 1: Federal Highway & Boynton Beach Blvd 10/15/2021 ''t "W, :' „ f ', i„ 6U Lane Configurations Traffic Volume(vph) 164 59 360 34 49 14 259 343 20 664 Future Volume(vph) 164 59 360 34 49 14 259 343 20 664 Turn Type pm+ptNA Perm pm+pt NA Perm Prot NA Prot NA Protected Phases 7 4 3 8 5 2 1_ 6 Permitted!Phases 4 4 8 8 Detector Phase 7 4 4 3 8 8 5 2 1 6 Switch Phase Minimum Initial(s) 4.0 6.0 6.0 4.0 6.0 6.0 4.0 20.0 4.0 20.0 Minimum Split(s) 10.0 39.5 39.5 10.0 37.5 37.5 10.0 33.0 10.0 31.0' Total Split(s) 26.0 50.0 50.0 16.0 40.0 40.0 18.0 73.0 16.0 71.0 Total Split(%) 16.8% 32.3% 32.3% 103% 25.8% 25.8% 11.6% 47.1% ' 10.3% 45.8%! Yellow Time(s) 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 All-Red Time(s) 2.0 2.5 2.5 2.0 2.5 2.5 2.0 2.0 2.0 2.0 Lost Time Adjust(s) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Lost Time(s); 6.0 6.5 6.5 6.0 6.5 6.5 6.0 6.0 6.0 6.0 Lead/Lag Lead Lag Lag Lead Lag Lag Lead Lag Lead Lag Lead-Lag Optimize? Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Recall Mode None None None None None None None Max None Max Act Effct Green(s) 29.4 18.1 18.1 16.2 9.8 9.8 12.1 75.6 7.1 65.51 Actuated g/C Ratio 0.24 0.14 0.14 0.13 0.08 0.08 0.10 0.60 0.06 0.52 v/c Ratio 0.57 0.24 0.78 0.19 0.37 0.06 0.85 10.18 0.22 0.50 Control Delay 47.1 50.1 22.8 38.3 63.6 0.4 80.1 14.1 64.8 21.4 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Delay 47.1 50.1 22.8 38.3 63.6 0.4 80.1 14.1 64.8 21.4 LOS D D C D E A F B E C Approach Delay 32.4 45.7 42.0 22.4 Approach LOS C D D C Cycle Length: 155 Actuated Cycle Length: 125.1 Natural Cycle:95 Control Type: Semi Act-Uncoord Maximum v/c Ratio:0.85 Intersection Signal Delay:31.8 Intersection LOS: C Intersection Capacity Utilization 64.8% ICU Level of Service C Analysis Period(min) 15__, Splits and Phases: 1: Federal Highway&Boynton Beach Blvd 01 02 1' f 3 Himv t� 05 06 07 0s FY AM 3:38 pm 10/12/2021 Synchro 11 Report Page 1 Queues FY AM 1: Federal Highway & Boynton Beach Blvd 10/15/2021 ''t 4 :' „ f ', i„ 6U Lane Group Flow(vph) 178 64 391 37 53 15 282 385 22 907 v/c Ratio 0.57 0.24 0.78 0.19 0.37 0.06 0.85 10.18 0.22 0.50 Control Delay 47.1 50.1 22.8 38.3 63.6 0.4 80.1 14.1 64.8 21.4 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Delay 47.1 50.1 22.8 38.3 63.6 0.4 80.1 14.1 64.8 21.4 Queue Length 50th(ft) 122 47 55 23 43 0 120 80 18 245 Queue Length 95th(ft) 189 92 177 51 88 0 #223 135 49 360 Internal Link Dist(ft) 1893 782 570 962 Turn Bay Length(ft) 230 300 190 300 280 Base Capacity(vph) 356 652 761 235 502 535 331 2130 142 1807! Starvation Cap Reductn _0 0 0 0 0 0 0 0 0 0 Spillback Cap Reductn 0 0 0 0 0 0 0 0 0 0 Storage Cap Reductn 0 0 0 0 0 0 0 0 0 0 Reduced v/c Ratio 0.50 0.10 0`51 0.16 0.11 0.03 0.85 10.18 0.15 0.50 # 95th percentile volume exceeds capacity,queue maybe longer. Queue shown is maximum after two cycles. FY AM 3:38 pm 10/12/2021 Synchro 11 Report Page 2 HCM 6th Signalized Intersection Summary FY AM 1: Federal Highway & Boynton Beach Blvd 10/15/2021 s,1qu ..�r� Lane Configurations Traffic Volume(veh/h) 164 59 360 34 49 14 259 343 11 20 664 170 Future Volume(veh/h) 164 59 360 34 49 14 259 343 11 20 664 170 Initial Q(Qb),veh 0 0 0 0 0 0 0 0 0 0 0 0 Ped-Bike Adj(A_pbT) 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Parking Bus,Adj 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Work Zone On Approach No No No No Adj Sat Flow,veh/h/In 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 Adj Flow Rate,veh/h 178 64 391 37 53 15 282 373 12 22 722 185 Peak Hour Factor 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 Percent Heavy Veh, % 2 2 2 2 2 2 2 2 2 2 2 2 Cap,veh/h 443 492 417 274 362 306 291 1844 59 29' 1279 328 Arrive On Green 0.09 0.26 0.26 0.02 0.19 0.19 0.08 0.52 0.52 0.02 0.46 0.46 Sat Flow,veh/h " 1781 1870 1585 1781 1870 1585 3456 3514 113 1781' 2801 717 Grp Volume(v),veh/h 178 64 391 37 53 15 282 188 197 22 458 449 Grp Sat Flow(s),veh/h/In 1781 1870 1585 1781 1870 1585 1728 1777 1850 1781' 1777 1741 Q Serve(g_s),s 11.0 3.7 34.3 2.4 3.3 1.1 11.6 8.0 8.0 1.8 26.8 26.9 Cycle Q Clear(g_c),s 11.0 3.7 34.3 2.4 3.3 1.1 11.6 8.0 8.0 1.8i 26.8 26.9 Prop In Lane 1.00 1.00 1.00 1.00 1.00 0.06 1.00 0.41 Lane Grp Cap(c),veh/h 443 492 417 274 362 306 291 932 971 29 812 795 V/C Ratio(X) 0.40 0.13 0.94 0.14 0.15 0.05 0.97 0.20 0.20 0.76 0.56 0.56 Avail Cap(c_a),veh/h 527 572 485 357 440 373 291 932 971 125; 812 795 HCM Platoon Ratio 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Upstream Filter(I) 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Uniform Delay(d),s/veh 38.8 40.0 51.3 44.6 47.7 46.7 65.0 18.0 18.0 69.7 28.3 28.3 Incr Delay(d2), s/veh 0.6 0.1 24.3 0.2 0.2 0.1 43.8 0.5 0.5'I 32.1 2.8 2.9 Initial Q Delay(d3),sNeh 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 °l«ile BackOfQ(50%),veh/In' 5.0 1,8 16.4 1.1 1.6 0.4 6.9 3.5 3.6 1.1 12.1 11;9 Unsig. Movement Delay,s/veh LnGrp Delay(d),s/teh 39.4 40.1 75.6 44.8 47.8 46.8 108.7 18.5 18.4 101.8 31.1 31:2 LnGrp LOS D D E D D D FB B F C C Approach Vol,veh/h 633 105 667 929 Approach Delay,s/veh 61.8 46.6 56.6 32.8 Approach LOS E D E C .,;i: 7 ri„ ti,�l=`iY�'z `1 tst iii':•. jt s, f4 i�t ''.,'l - f i t. i�'� si ,t'i.-{ i ,f 7 t, Phs Duration(G+Y+Rc),s83 80.7 9.4 43.9 18.0 71.0 19.3 34.0 Change Period(Y+Rc),s__ 6.0 6.0 6.0 6.5 6.0 6.0 6.0 6.5 Max Green Setting(Gmax) s 10.0 67.0 10.0 43.5 12.0 65.0 20.0 33.5 Max Q Clear Time(g_c+I1),s 3.8 10.0 4.4 36.3 13.6 28.9 13.0 5.3 Green Ext Time(p-c),s 0.0 2.5 0.0 1.1 0.0 71 0.3 0.3 HCM 6th Ctrl Delay 48.1 HCM 6th LOS D FY AM 3:38 pm 10/12/2021 Synchro 11 Report Page 3 Timings FY AM 2: Ocean Avenue & Federal Highway 10/15/2021 t` '~ ;i ` ' �' E1: 1Pts, Lane Configurations Traffic Volume(vph) 46 116 143 43 134 19 507 314 869 Future Volume(vph) 46 116 143 43 134 19 507 314 869 Turn Type pm+ptNA pm+pt NA Perm Prot NA Prot " NA Protected Phases 7 4 3 8 5 2 1_ 6, Permitted!Phases 4 8 8 Detector Phase 7 4 3 8 8 5 2 1 6 Switch Phase Minimum Initial(s) 4.0 6.0 4.0 6.0 6.0 4.0 20.0 4.0 20.0 Minimum Split(s) 11.0 38.0 11.0 39.0 39.0 10.0 33.0 10.0 26.0 Total Split(s) 22.0 40.0 24.0 42.0 42.0 25.0 61.0 30.0 66.0 Total Split(%) 14.2% 25.8% 15.5% 27,1% 27,1% 16,1% 39.4% s 19.4% 42.6% YellowTime(s) 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0_. 4.0 All-Red Time(s) 3.0 3.0 3.0 3.0 3.0 2.0 2.0 2.0 2.0 Lost Time Adjust(s) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Lost Time(s); 7.0 7.0 7.0 7.0 7.0 6.0 6.0 6.0 6.0 Lead/Lag Lead Lag Lead Lag Lag Lead Lag Lead Lag Lead-Lag Optimize? Yes Yes Yes Yes Yes Yes Yes Yes Yes Recall Mode None None None None None None Max None Max Act Effct Green(s) 25.6 17.3 38.0 26.1 26.1 7.1 55.2 24.1 i 77.1 Actuated g/C Ratio 0.19 0.13 0.28 0.19 0.19 0.05 0.40 0.18 0.56 v/c Ratio 0.18 0.71 0`53 0.13 0.35 0.23 0.57 1.10 0.49' Control Delay 37.4 71.1 45.0 48.7 9.5 70.3 32.4 131.2 21.4 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 Total Delay 37.4 71.1 45.0 48.7 9.5 70.3 32.4 131.2 21.8 LOS D E D D A E C F li C Approach Delay 63.4 30.6 33.4 50.1 Approach LOS E C C D Cycle Length: 155 Actuated Cycle Length: 136.9 Natural Cycle: 105 Control Type: Semi Act-Uncoord Maximum v/c Ratio: 1.10 Intersection Signal Delay:43.6 Intersection LOS: D Intersection Capacity Utilization 76.8% ICU Level of Service D Analysis Period(min) 15__, Splliitts, and Phases: 2: Ocean Avenue&Federal Highway �^ t02 fo 3 -004 4= mom 05 • 06 07 08 e FY AM 3:38 pm 10/12/2021 Synchro 11 Report Page 4 Queues FY AM 2: Ocean Avenue & Federal Highway 10/15/2021 t` '~ 06 ` ' �' E1: 1Pts, Lane Group Flow(vph) 50 168 155 47 146 21 799 341 980 v/c Ratio 0.18 0.71 0`53 0.13 0.35 0.23 0.57 1.10 0.49' Control Delay 37.4 71.1 45.0 48.7 9.5 70.3 32.4 131.2 21.4 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 Total Delay 37.4 71.1 45.0 48.7 9.5 70.3 32.4 131.2 21.8 Queue Length 50th(ft) 33 138 109 36 0 18 271 -345 293 Queue Length 95th(ft) 66 221 169 75 59 49 375 #591 421 Internal Link Dist(ft) 918 1812 308 570 Turn Bay Length(ft) 110 250 250 180 150 Base Capacity(vph) 365 440 317 477 514 246 1390 311 1984 Starvation Cap Reductn 0 0 0 0 0 0 0 0 464 Spillback Cap Reductn 0 0 0 0 0 0 0 0 0 Storage Cap Reductn 0 0 0 0 0 0 0 0 0 Reduced v/c Ratio 0.14 0.38 0.49 0.10 0.28 0.09 0.57 1.10 0.64 Volume exceeds capacity,queue is theoretically infinite. Queue shown is maximum after two cycles. # 95th percentile volume exceeds capacity,queue maybe longer. Queue shown is maximum after two cycles. FY AM 3:38 pm 10/12/2021 Synchro 11 Report Page 5 HCM 6th Signalized Intersection Summary FY AM 2: Ocean Avenue & Federal Highway 10/15/2021 s,1 ..�qru� Lane Configurations Traffic Volume(veh/h) 46 116 39 143 43 134 19 507 228 314 869 32 Future Volume(veh/h) 46 116 39 143 43 134 19 507 228 314 869 32 Initial Q(Qb),veh 0 0 0 0 0 0 0 0 0 0 0 0 Ped-Bike Adj(A_pbT) 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Parking Bus,Adj 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Work Zone On Approach No No No No Adj Sat Flow,veh/h/In 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 Adj Flow Rate,veh/h 50 126 42 155 47 146 21 551 248 341 945 35 Peak Hour Factor 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 Percent Heavy Veh, % 2 2 2 2 2 2 2 2 2 2 2 2 Cap,veh/h 250 152 51 242 318 270 29 994 446 324' 2036 75 Arrive On Green 0.03 0.11 0.11 0.09 0.17 0.17 0.02 0.42 0.42 0.18 0.58 0.58 Sat Flow,veh/h " 1781 1342 447 1781 1870 1585 1781 2384 1070 1781' 3494 129 Grp Volume(v),veh/h 50 0 168 155 47 146 21 410 389 341 481 499 Grp Sat Flow(s),veh/h/In 1781 0 1790 1781 1870 1585 1781 1777 1678 1781' 1777 1847 Q Serve(g_s),s 3.2 0.0 12.1 9.8 2.8 11.1 1.5 23.1 23.2 24.0 20.4 20.4 Cycle Q Ciear(g_c),s 3.2 0.0 12.1 9.8 2.8 11.1 1.5 23.1 i 23.2 24.0+ 20.4 20.4 Prop In Lane 1.00 0.25 1.00 1.00 1.00 0.64 1.00 0.07 Lane Grp Cap(c),veh/h 250 0 203 242 318 270 29 741 ii 700 324 1038 1076 V/C Ratio(X) 0.20 0.00 0.83 0.64 0.15 0.54 0.72 0.55 0.56 1.05 0.46 0.46 Avail Cap(c_a),veh/h 392 0 448 310 496 421 257 741 ii 700 324 1038 1076 HCM Platoon Ratio 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Upstream Filter(I) 1,00 0.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Uniform Delay(d),s/veh 49.4 0.0 57.2 44.9 46.6 50.0 64.6 29.1 29.2 53.9 15.7 15.7 Incr Delay(d2), s/veh 0.4 0.0 8.4 2.8 0.2 1.7 28.6 3.0 3.2 64.3 1.8 1.4 Initial Q Delay(d3),sNeh 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 °l«ile BackOfQ(50%),veh/In' 1.5 0.0 6.0 4,6 1.3 4,5 0.9 10.5 10.0 ' 16.5 8.6 8,9 Unsig. Movement Delay,s/veh LnGrp Delay(d),s/veh 49.8 0.065.6 47.7 46.8 51.7 93.2 32.1 32.3 118.2 17.2 17,2 LnGrp LOS D A E D D D FCC F B B Approach Vol,veh/h 218 348 820 1321 Approach Delay,s/veh 61.9 49.3 33.8 43.3 Approach LOS E D C D .,;i: 7 ri„ ti,�l=`iY�'z `1 tst iii':•. jt s, f4 i�t ''.,'l - f i t. i�'� si ,t'i.-{ i ,f 7 t, Phs Duration(G+Y+Rc),s30.0 61.0 18.9 21.9 8.1 82.9 11.5 29.4 Change Period(Y+Rc),s 6.0 6.0 7.0 7.0 6.0 6.0 7.0 7.0_, Max Green Setting(Gmax) s 24.0 55.0 17.0 33.0 19.0 60.0 15.0 35.0 Max Q Clear Time(g_c+I1),s 26.0 25.2 11.8 14.1 3.5 22.4 5.2 13.1 Green Ext Time(p-c),s 0.0 5.9 0.2 0.8 0.0 7,8 0.0 0.7 HCM 6th Ctrl Delay 42.7 HCM 6th LOS D FY AM 3:38 pm 10/12/2021 Synchro 11 Report Page 6 Timings FY PM 1: Federal Highway & Boynton Beach Blvd 10/15/2021 ''t "W, :' „ f ', i„ 6U Lane Configurations Traffic Volume(vph) 300 66 444 14 97 25 536 853 24 613 Future Volume(vph) 300 66 444 14 97 25 536 853 24 613 Turn Type pm+ptNA Perm pm+pt NA Perm Prot NA Prot NA Protected Phases 7 4 3 8 5 2 1_ 6 Permitted!Phases 4 4 8 8 Detector Phase 7 4 4 3 8 8 5 2 1 6 Switch Phase Minimum Initial(s) 4.0 6.0 6.0 4.0 6.0 6.0 4.0 20.0 4.0 20.0 Minimum Split(s) 10.0 39.5 39.5 10.0 37.5 37.5 10.0 33.0 10.0 31.0' Total Split(s) 28.0 48.0 48.0 20.0 40.0 40.0 32.0 73.0 19.0 60.0 Total Split(%) 17.5% 30.0% 30.0% 12:5% 25.0% 25.0% 20.0% 45.6% 11.9% 37.5% Yellow Time(s) 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 All-Red Time(s) 2.0 2.5 2.5 2.0 2.5 2.5 2.0 2.0 2.0 2.0 Lost Time Adjust(s) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Lost Time(s); 6.0 6.5 6.5 6.0 6.5 6.5 6.0 6.0 6.0 6.0 Lead/Lag Lead Lag Lag Lead Lag Lag Lead Lag Lead Lag Lead-Lag Optimize? Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Recall Mode None None None None None None None Max None Max Act Effct Green(s) 41.6 35.9 35.9 20.1 13.2 13.2 26.0 77.4 7.5 54.0' Actuated g/C Ratio 0.30 0.26 0.26 0.14 0.09 0.09 0.19 0.55 0.05 0.39 v/c Ratio 0.82 0.15 0.65 0.07 0.60 0.09 0.91 0.49 0.27 ! 0.65 Control Delay 59.9 43.1 9.9 36.5 74.9 0.5 75.4 21.7 71.1 37.0 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 Total Delay 59.9 43.1 9.9 36.5 74.9 0.5 75.4 22.1 71.1 37.0 LOS E D A D E A E C E D! Approach Delay 31.1 57.4 42.2 38.0 Approach LOS C E D D Cycle Length: 160' Actuated Cycle Length: 139.6 Natural Cycle:95 Control Type: Semi Act-Uncoord Maximum v/c Ratio:0.91 Intersection Signal Delay:39.0 Intersection LOS: D Intersection Capacity Utilization 76.8% ICU Level of Service D Analysis Period(min) 15__, Splits and Phases: 1: Federal Highway&Boynton Beach Blvd .- 03 -404 05 06 07 08 WWWWUM, -1 A&MMUNKSOMMMI 11 FY PM 3:38 pm 10/12/2021 Synchro 11 Report Page 1 Queues FY PM 1: Federal Highway & Boynton Beach Blvd 10/15/2021 ''t 4 :' „ f ', i„ 6U Lane Group Flow(vph) 326 72 483 15 105 27 583 960 26 865 v/c Ratio 0.82 0.15 0.65 0.07 0.60 0.09 0.91 0.49 0.27 ! 0.65 Control Delay 59.9 43.1 9.9 36.5 74.9 0.5 75.4 21.7 71.1 37.0 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 Total Delay 59.9 43.1 9.9 36.5 74.9 0.5 75.4 22.1 71.1 37.0 Queue Length 50th(ft) 256 48 17 10 93 0 270 294 23 326: Queue Length 95th(ft) #373 101 135 28 157 0 #397 396 57 422 Internal Link Dist(ft) 1893 782 570 962 Turn Bay Length(ft) 230 300 190 300 280 Base Capacity(vph) 399 554 791 307 447 519 639 1953 165 1337! Starvation Cap Reductn _0 0 0 0 0 0 0 472 _ 0 0 Spillback Cap Reductn 0 0 0 0 0 0 0 0 0 0 Storage Cap Reductn 0 0 0 0 0 0 0 0 0 0 Reduced v/c Ratio 0.82 0.13 0.61 0.05 0.23 0.05 0.91 0.65 0.16 0.65 # 95th percentile volume exceeds capacity,queue maybe longer. Queue shown is maximum after two cycles. FY PM 3:38 pm 10/12/2021 Synchro 11 Report Page 2 HCM 6th Signalized Intersection Summary FY PM 1: Federal Highway & Boynton Beach Blvd 10/15/2021 'a r Ort i;r ,v?iii, rl i, r174 rl r, i{ >,t;;,,, i ;,. t i,, !( f,'„ ,kr a t}:{t t,;;`, sG s ;a ,St •,i ,s,{ ..,4iu� Lane Configurations Traffic Volume(veh/h) 300 66 444 14 97 25 536 853 30 24" 613 183 Future Volume(veh/h) 300 66 444 14 97 25 536 853 30 24 613 183 Initial Q(Qb),veh 0 0 0 0 0 0 0 0 0 0 0 0 Ped-Bike Adj(A_pbT) 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Parking Bus,Adj 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Work Zone On Approach No No No No Adj Sat Flow,veh/h/In 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 Adj Flow Rate,veh/h 326 72 483 15 105 27 583 927 33 26 666 199 Peak Hour Factor 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 Percent Heavy Veh, % 2 2 2 2 2 2 2 2 2 2 2 2 Cap,veh/h 431 525 445 194 270 229 608 1829 65 33 985 294 Arrive On Green 0.15 0.28 0.28 0.01 0.14 0.14 0.18 0.52 0.52 0.02 0.37 0.37 Sat Flow,veh/h " 1781 1870 1585 1781 1870 1585 3456 3500 125 1781' 2697 805 Grp Volume(v),veh/h 326 72 483 15 105 27 583 471 489 26 439 426 Grp Sat Flow(s),veh/h/In 1781 1870 1585 1781 1870 1585 1728 1777 1848 1781' 1777 1725 Q Serve(g_s),s 22.0 4.3 41.5 1.1 7.5 2.2 24.7 25.4 25.4 2.1 30.8 30.8 Cycle Q Clear(g_c),s 22.0 4.3 41.5 1.1 7.5 2.2 24.7 25.4 25.4 2.1 30.8 30.8 Prop In Lane 1.00 1.00 1.00 1.00 1.00 0.07 1.00 0.47 Lane Grp Cap(c),veh/h 431 525 445 194 270 229 608 929 966 33! 649 630 V/C Ratio(X) 0.76 0.14 1.09 0.08 0.39 0.12 0.96 0.51 0.51 0.79 0.68 0.68 Avail Cap(c_a),veh/h 431 525 445 341 424 359 608 929 966 157! 649 630 HCM Platoon Ratio 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Upstream Filter(I) 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Uniform Delay(d),s/veh 44.3 39.8 53.2 53.0 57.3 55.1 60.4 22.9 22.9 72.3 39.5 39.6 Incr Delay(d2), s/veh 7.5 0.1 67.7 0.2 0.9 0.2 26.6 2.0 1.9 32.9 5.6 57 Initial Q Delay(d3),sNeh 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 °l«ile BackOfQ(50%),veh/In: 11.1 2.0 24.8 0.5 X 3.7 0.9 13.1 11.2 11,6 1.3 14.5 14:11 Unsig. Movement Delay,s/veh LnGrp Delay(d),s/veh 51.8 39.9 120.9 53.2 58.3 55.3 87.0 24.9 24.8 105.1 45.1 45:3 LnGrp LOS D D F D E EFC C F D D Approach Vol,veh/h 881 147 1543 891 Approach Delay,s/veh 88.7 57.2 48.3 47.0 Approach LOS F E D D .,;i: 7 ri„ A,�l=`it'''r `1 tst ,r+':• jt r, f{ lit -,'l - f i t. li'. si ,t'i.-{ i ,r 7ti 3 t, ,i li r174 1 rl,.;.rl 1 1, t, Phs Duration(G+Y+Rc),s8.7 83.3 7.8 48.0 32.0 60.0 28.0 27.8 Change Period(Y+Rc),s__ 6.0 6.0 6.0 6.5 6.0 6.0 6.0 6.5 Max Green Setting(Gmax) s 13.0 67.0 14.0 41.5 26.0 54.0 22.0 33.5 Max Q Clear Time(g_c+I1),s 4.1 27.4 3.1 43.5 26.7 32.8 24.0 9.5 Green Ext Time(p-c),s 0.0 7.6 0.0 0.0 0.0 5.8 0.0 0.6 HCM 6th Ctrl Delay 58.6 HCM 6th LOS E FY PM 3:38 pm 10/12/2021 Synchro 11 Report Page 3 Timings FY PM 2: Ocean Avenue & Federal Highway 10/15/2021 t` '~ 06 ` ' �' E1: 1Pts, Lane Configurations Traffic Volume(vph) 51 82 249 114 254 44 807 276 727 ' Future Volume(vph) 51 82 249 114 254 44 807 276 727 Turn Type pm+ptNA pm+pt NA Perm Prot NA Prot " NA Protected Phases 7 4 3 8 5 2 1_ 6, Permitted!Phases 4 8 8 Detector Phase 7 4 3 8 8 5 2 1 6 Switch Phase Minimum Initial(s) 4.0 6.0 4.0 6.0 6.0 4.0 20.0 4.0 20.0 Minimum Split(s) 11.0 38.0 11.0 39.0 39.0 10.0 33.0 10.0 26.0 Total Split(s) 21.0 40.0 21.0 40.0 40.0 24.0 72.0 27.0 75.0 Total Split(%) 13.1% 25.0% 13,1% 25:0% 25.0% 1+5.0% 45.0% s 16.9% 46.9% YellowTime(s) 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0_. 4.0 All-Red Time(s) 3.0 3.0 3.0 3.0 3.0 2.0 2.0 2.0 2.0 Lost Time Adjust(s) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Lost Time(s); 7.0 7.0 7.0 7.0 7.0 6.0 6.0 6.0 6.0 Lead/Lag Lead Lag Lead Lag Lag Lead Lag Lead Lag Lead-Lag Optimize? Yes Yes Yes Yes Yes Yes Yes Yes Yes Recall Mode None None None None None None Max None Max Act Effct Green(s) 24.2 15.4 34.4 23.3 23.3 9.2 66.1 21.0 80.3' Actuated g/C Ratio 0.17 0.11 0.24 0.16 0.16 0.06 0.46 0.15 0.56 v/c Ratio 0.22 0.69 0.99 0.41 0.56 0.42 0.66 1.15 0.43' Control Delay 43.0 70.9 101.9 59.6 10.7 75.6 32.0 155.2 20.1 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 Total Delay 43.0 70.9 101.9 59.6 10.7 75.6 32.0 155.2 20.4 LOS D E F E B E C F li C Approach Delay 63.0 56.5 33.9 55.7 Approach LOS E E C E Cycle Length: 160' Actuated Cycle Length: 142.5 Natural Cycle: 115 Control Type: Semi Act-Uncoord Maximum v/c Ratio: 1.15 Intersection Signal Delay:48.6 Intersection LOS: D Intersection Capacity Utilization 85.8% ICU Level of Service E Analysis Period(min) 15__, Splits and Phases: 2: Ocean Avenue&Federal Highway 2 403 I_ 4_ o5 i 06 07 08 FY PM 3:38 pm 10/12/2021 Synchro 11 Report Page 4 Queues FY PM 2: Ocean Avenue & Federal Highway 10/15/2021 t` '~ 06 ` ' �' E1: 1Pts, Lane Group Flow(vph) 55 141 271 124 276 48 1064 300 845 v/c Ratio 0.22 0.69 0.99 0.41 0.56 0.42 0.66 1.15 0.43' Control Delay 43.0 70.9 101.9 59.6 10.7 75.6 32.0 155.2 20.1 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 Total Delay 43.0 70.9 101.9 59.6 10.7 75.6 32.0 155.2 20.4 Queue Length 50th(ft) 39 113 222 107 0 44 388 -326 236 Queue Length 95th(ft) 77 187 #337 178 85 90 505 #546 336 Internal Link Dist(ft) 918 1812 308 570 Turn Bay Length(ft) 110 250 250 180 150 Base Capacity(vph) 310 420 273 431 578 223 1608 261 i 1977 Starvation Cap Reductn 0 0 0 0 0 0 0 0 565 Spillback Cap Reductn 0 0 0 0 0 0 0 0 0 Storage Cap Reductn 0 0 0 0 0 0 0 0 0 Reduced v/c Ratio 0.18 0.34 0.99 0.29 0.48 0.22 0.66 1.15 0.60 Volume exceeds capacity,queue is theoretically infinite. Queue shown is maximum after two cycles. # 95th percentile volume exceeds capacity,queue maybe longer. Queue shown is maximum after two cycles. FY PM 3:38 pm 10/12/2021 Synchro 11 Report Page 5 HCM 6th Signalized Intersection Summary FY PM 2: Ocean Avenue & Federal Highway 10/15/2021 s,1 ..�qru� Lane Configurations Traffic Volume(veh/h) 51 82 48 249 114 254 44 807 172 276: 727 51 Future Volume(veh/h) 51 82 48 249 114 254 44 807 172 276 727 51 Initial Q(Qb),veh 0 0 0 0 0 0 0 0 0 0 0 0 Ped-Bike Adj(A_pbT) 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Parking Bus,Adj 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Work Zone On Approach No No No No Adj Sat Flow,veh/h/In 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 Adj Flow Rate,veh/h 55 89 52 271 124 276 48 877 187 300 790 55 Peak Hour Factor 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 Percent Heavy Veh, % 2 2 2 2 2 2 2 2 2 2 2 2 Cap,veh/h 243 145 85 288 356 302 62 1316 281 256' 1889 131 Arrive On Green 0.04 0.13 0.13 0.10 0.19 0.19 0.03 0.45 0.45 0.14 0.56 0.56 Sat Flow,veh/h " 1781 1107 647 1781 1870 1585 1781 2914 621 1781' 3370 235 Grp Volume(v),veh/h 55 0 141 271 124 276 48 535 529 300 416 429 Grp Sat Flow(s),veh/h/In 1781 0 1754 1781 1870 1585 1781 1777 1759 1781' 1777 1828 Q Serve(g_s),s 3.9 0.0 11.1 14.0 8.4 24.9 3.9 34.5 34.5 21.0 19.7 19.7 Cycle Q Clear(g_c),s 3.9 0.0 11.1 14.0 8.4 24.9 3.9 34.5 34.5 i 21.0' 19.7 19.7 Prop In Lane 1.00 0.37 1.00 1.00 1.00 0.35 1.00 0.13 Lane Grp Cap(c),veh/h 243 0 229 288 356 302 62 803 794 256 996 1025 V/C Ratio(X) 0.23 0.00 0.61 0.94 0.35 0.91 0.77 0.67 0.67 1.17 0.42 0.42 Avail Cap(c_a),veh/h 349 0 396 288 422 358 219 803 794 256 996 1025 HCM Platoon Ratio 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Upstream Filter(I) 1,00 0.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Uniform Delay(d),s/veh 52.3 0.0 60.0 54.3 51.3 58.0 69.9 31.4 31.4 62.6 18.4 18.4 Incr Delay(d2), s/veh 0.5 0.0 2.7 37.2 0.6 24.8 17.9 4.3 4.4 110.8? 1.3 13 Initial Q Delay(d3),sNeh 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 °l«ile BackOfQ(50%),veh/In: 1.8 0.0 5.1 6.3 4,0 12.1 2.1 15.8 15.6 17.4 8.5 8,7 Unsig. Movement Delay,s/veh LnGrp Delay(d),s/veh 52.8 0.062.7 91.5 51.9 82.8 87.8 35.8 35.8 173.3 19.7 19:7 LnGrp LOS D A E F D FFD D F B B Approach Vol,veh/h 196 671 1112 1145 Approach Delay,s/veh 59.9 80.6 38.0 60.0 Approach LOS E F D E .,;i: 7 ri„ ti,�l=`iY�'z `1 tst iii':•. jt s, f4 i�t ''.,'l - f i t. i�'� si ,t'i.-{ i ,f 7 t, Phs Duration(G+Y+Rc),s27.0 72.0 21.0 26.1 11.1 87.9 12.3 34.8 Change Period(Y+Rc),s 6.0 6.0 7.0 7.0 6.0 6.0 7.0 7.0 Max Green Setting(Gmax) s 21.0 66.0 14.0 33.0 18.0 69.0 14.0 33.0 Max Q Clear Time(g_c+I1),s 23.0 36.5 16.0 13.1 5.9 21.7 5.9 26.9 Green Ext Time(p-c),s 0.0 8.4 0.0 0.7 0.1 6.5 0.1 0.9 HCM 6th Ctrl Delay 56.6 HCM 6th LOS E FY PM 3:38 pm 10/12/2021 Synchro 11 Report Page 6 Timings FY PM OPT 1: Federal Highway & Boynton Beach Blvd 10/15/2021 ''t "W, :' „ f ', i„ 6U Lane Configurations Traffic Volume(vph) 300 66 444 14 97 25 536 853 24 613 Future Volume(vph) 300 66 444 14 97 25 536 853 24 613 Turn Type pm+ptNA Perm pm+pt NA Perm Prot NA Prot NA Protected Phases 7 4 3 8 5 2 1_ 6 Permitted!Phases 4 4 8 8 Detector Phase 7 4 4 3 8 8 5 2 1 6 Switch Phase Minimum Initial(s) 4.0 6.0 6.0 4.0 6.0 6.0 4.0 20.0 4.0 20.0 Minimum Split(s) 10.0 39.5 39.5 10.0 37.5 37.5 10.0 33.0 10.0 31.0' Total Split(s) 28.0 55.6 55.6 10.0 37.6 37.6 40.0 82.4 12.0 54.4 Total Split(%) 17.5% 34.8% 34.8% 63% 23.5% 23.5% 25.0% 51.5% 7.5% 34.0°ln'! Yellow Time(s) 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 All-Red Time(s) 2.0 2.5 2.5 2.0 2.5 2.5 2.0 2.0 2.0 2.0 Lost Time Adjust(s) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Lost Time(s); 6.0 6.5 6.5 6.0 6.5 6.5 6.0 6.0 6.0 6.0 Lead/Lag Lead Lag Lag Lead Lag Lag Lead Lag Lead Lag Lead-Lag Optimize? Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Recall Mode None None None None None None None Max None Max Act Effct Green(s) 41.4 37.1 37.1 17.6 13.1 13.1 27.7 77.4 5.9 50.51 Actuated g/C Ratio 0.30 0.27 0.27 0.13 0.10 0.10 0.20 0.56 0.04 0.37 v/c Ratio 0.81 0.14 0.63 0.08 0.59 0.09 0.84 0.48 0.34 0.68 Control Delay 58.7 41.8 9.0 38.0 74.7 0.5 65.4 20.3 79.8 40.2 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.0 0.0 Total Delay 58.7 41.8 9.0 38.0 74.7 0.5 65.4 20.8 79.8 40.2 LOS E D A D E A E C E D! Approach Delay 30.1 57.3 37.6 41.3 Approach LOS C E D D Cycle Length: 160' Actuated Cycle Length: 137.7 Natural Cycle:95 Control Type: Semi Act-Uncoord Maximum v/c Ratio:0.84 Intersection Signal Delay:37.5 Intersection LOS: D Intersection Capacity Utilization 76.8% ICU Level of Service D Analysis Period(min) 15__, Splits and Phases: 1: Federal Highway&Boynton Beach Blvd 01 t . I 05 T 06 07 03 FY PM OPT 5:22 pm 10/13/2021 Synchro 11 Report Page 1 Queues FY PM OPT 1: Federal Highway & Boynton Beach Blvd 10/15/2021 ''t 4 :' „ f ', i„ 6U Lane Group Flow(vph) 326 72 483 15 105 27 583 960 26 865 v/c Ratio 0.81 0.14 0.63 0.08 0.59 0.09 0.84 0.48 0.34 0.68 Control Delay 58.7 41.8 9.0 38.0 74.7 0.5 65.4 20.3 79.8 40.2 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.0 0.0 Total Delay 58.7 41.8 9.0 38.0 74.7 0.5 65.4 20.8 79.8 40.2 Queue Length 50th(ft) 262 49 13 10 95 0 270 287 24 338 Queue Length 95th(ft) #387 99 125 28 159 0 338 373 58 463 Internal Link Dist(ft) 1893 782 570 962 Turn Bay Length(ft) 230 300 190 300 280 Base Capacity(vph) 405 667 864 182 422 501 851 1980 77 1268? Starvation Cap Reductn 0 0 0 0 0 0 0 545 0 0 Spillback Cap Reductn 0 0 0 0 0 0 0 0 0 0 Storage Cap Reductn 0 0 0 0 0 0 0 0 0 0 Reduced v/c Ratio 0.80 0.11 0`56 0.08 0.25 0.05 0.69 0.67 0.34 0.68 # 95th percentile volume exceeds capacity,queue maybe longer. Queue shown is maximum after two cycles. FY PM OPT 5:22 pm 10/13/2021 Synchro 11 Report Page 2 HCM 6th Signalized Intersection Summary FY PM OPT 1: Federal Highway & Boynton Beach Blvd 10/15/2021 s,1 ..�qru� Lane Configurations Traffic Volume(veh/h) 300 66 444 14 97 25 536 853 30 24" 613 183 Future Volume(veh/h) 300 66 444 14 97 25 536 853 30 24 613 183 Initial Q(Qb),veh 0 0 0 0 0 0 0 0 0 0 0 0 Ped-Bike Adj(A_pbT) 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Parking Bus,Adj 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Work Zone On Approach No No No No Adj Sat Flow,veh/h/In 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 Adj Flow Rate,veh/h 326 72 483 15 105 27 583 927 33 26 666 199 Peak Hour Factor 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 Percent Heavy Veh, % 2 2 2 2 2 2 2 2 2 2 2 2 Cap,veh/h 472 589 499 226 345 292 645 1735 62 33 883 264 Arrive On Green 0.14 0.31 0.31 0.01 0.18 0.18 0.19 0.50 0.50 0.02 0.33 0.33 Sat Flow,veh/h " 1781 1870 1585 1781 1870 1585 3456 3500 125 1781' 2697 805 Grp Volume(v),veh/h 326 72 483 15 105 27 583 471 489 26 439 426 Grp Sat Flow(s),veh/h/In 1781 1870 1585 1781 1870 1585 1728 1777 1848 1781' 1777 1725 Q Serve(g_s),s 22.0 4.2 46.3 1.1 7.5 2.2 25.5 28.0 28.0 2.2 34.0 34.0 Cycle Q Clear(g_c),s 22.0 4.2 46.3 1.1 7.5 2.2 25.5 28.0 28.0 2.2 34.0 34.0 Prop In Lane 1.00 1.00 1.00 1.00 1.00 0.07 1.00 0.47 Lane Grp Cap(c),veh/h 472 589 499 226 345 292 645 881 i 916 33! 582 565 V/C Ratio(X) 0.69 0.12 0.97 0.07 0.30 0.09 0.90 0.53 0.53 0.79 0.75 0.75 Avail Cap(c_a),veh/h 472 596 505 250 377 320 762 881 i 916 69 582 565 HCM Platoon Ratio 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Upstream Filter(I) 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Uniform Delay(d),s/veh 41.8 37.6 52.1 50.2 54.3 52.2 61.4 26.7 26.7 75.4 46.3 46.3 Incr Delay(d2), s/veh 4.3 0.1 31.8 0.1 0.5 0.1 12.8 2.3 2.2 32.9 8.8 9.0 Initial Q Delay(d3),sNeh 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 °l«ile BackOfQ(50%),veh/In: 10.7 2.0 22.8 0.5 3.6 0.9 12.4 12.5 13.0 1.3 16.5 16:1 Unsig. Movement Delay,s/veh LnGrp Delay(d),s/teh 46.1 37.7 83.8 50.3 54.8 52.3 74.2 29.0 28.9 108.2' 55.1 55;4 LnGrp LOS D D F D D D EC C F E E Approach Vol,veh/h 881 147 1543 891 Approach Delay,s/veh 66.1 53.9 46.1 56.8 Approach LOS E D D E .,;i: 7 ri„ ti,�l=`iY�'z `1 tst iii':•. jt s, f4 i�t ''.,'l - f i t. i�'� si ,t'i.-{ i ,f 7 t, Phs Duration(G+Y+Rc),s8.9 82.4 7.9 55.0 34.8 56.5 28.0 34.9 Change Period(Y+Rc),s__ 6.0 6.0 6.0 6.5 6.0 6.0 6.0 6.5 Max Green Setting(Gmax) s 6.0 76.4 4.0 49.1 34.0 48.4 22.0 31.1 i Max Q Clear Time(g_c+I1),s 4.2 30.0 3.1 48.3 27.5 36.0 24.0 9.5 Green Ext Time(p-c),s 0.0 7.7 0.0 X0.2 1.3 4,5 0.0 0.6 HCM 6th Ctrl Delay 54.2 HCM 6th LOS D FY PM OPT 5:22 pm 10/13/2021 Synchro 11 Report Page 3 Timings FY PM OPT 2: Ocean Avenue & Federal Highway 10/15/2021 t` '~ 06 ` ' �' E1: 1Pts, Lane Configurations Traffic Volume(vph) 51 82 249 114 254 44 807 276 727 ' Future Volume(vph) 51 82 249 114 254 44 807 276 727 Turn Type pm+ptNA pm+pt NA Perm Prot NA Prot " NA Protected Phases 7 4 3 8 5 2 1_ 6, Permitted!Phases 4 8 8 Detector Phase 7 4 3 8 8 5 2 1 6 Switch Phase Minimum Initial(s) 4.0 6.0 4.0 6.0 6.0 4.0 20.0 4.0 20.0 Minimum Split(s) 11.0 38.0 11.0 39.0 39.0 10.0 33.0 10.0 26.0 Total Split(s) 11.0 38.0 22.0 49.0 49.0 15.0 62.0 38.0 85.0 Total Split(%) 6.9% 23.8% 13.8% 30,6% 30.6% 9.4% 38.8% 23.8% 53,1% YellowTime(s) 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 All-Red Time(s) 3.0 3.0 3.0 3.0 3.0 2.0 2.0 2.0 2.0 Lost Time Adjust(s) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Total Lost Time(s); 7.0 7.0 7.0 7.0 7.0 6.0 6.0 6.0 6.0 Lead/Lag Lead Lag Lead Lag Lag Lead Lag Lead Lag Lead-Lag Optimize? Yes Yes Yes Yes Yes Yes Yes Yes Yes Recall Mode None None None None None None Max None Max Act Effct Green(s) 19.5 15.5 37.6 29.0 29.0 8.1 57.4 28.0 80.0 Actuated g/C Ratio 0.14 0.11 0.26 0.20 0.20 0.06 0.40 0.20 0.56 v/c Ratio 0.29 0.68 0.92 0.33 0.51 0.48 0.76 0.86 0.43' Control Delay 48.1 71.5 82.9 52.5 8.7 82.9 41.3 78.9 19.7 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 Total Delay 48.1 71.5 82.9 52.5 8.7 82.9 41.3 78.9 20.1 LOS D E F D A F D E C Approach Delay 64.9 46.8 43.1 35.5 Approach LOS E D D D Cycle Length: 160' Actuated Cycle Length: 142.1 Natural Cycle: 115 Control Type: Semi Act-Uncoord Maximum v/c Ratio:0.92 Intersection Signal Delay:42.5 Intersection LOS: D Intersection Capacity Utilization 85.8% ICU Level of Service E Analysis Period(min) 15__, Splits and Phases: 2: Ocean Avenue&Federal Highway ^ t02 1�Q3 l � 05 ■ 06, 02 03 INIVIVIRS-1 Rim FY PM OPT 5:22 pm 10/13/2021 Synchro 11 Report Page 4 Queues FY PM OPT 2: Ocean Avenue & Federal Highway 10/15/2021 t` '~ 06 ` �' E1: 1Pts, Lane Group Flow(vph) 55 141 271 124 276 48 1064 300 845 v/c Ratio 0.29 0.68 0.92 0.33 0.51 0.48 0.76 0.86 0.43' Control Delay 48.1 71.5 82.9 52.5 8.7 82.9 41.3 78.9 19.7 Queue Delay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 Total Delay 48.1 71.5 82.9 52.5 8.7 82.9 41.3 78.9 20.1 Queue Length 50th(ft) 40 115 224 103 0 44 447 272 240 Queue Length 95th(ft) 77 190 #390 167 78 94 585 #425 322 Internal Link Dist(ft) 918 1812 308 570 Turn Bay Length(ft) 110 250 250 180 150 Base Capacity(vph) 187 397 295 552 663 112 1403 399 1976 Starvation Cap Reductn 0 0 0 0 0 0 0 0 598 Spillback Cap Reductn 0 0 0 0 0 0 0 0 0 Storage Cap Reductn 0 0 0 0 0 0 0 0 0 Reduced v/c Ratio 0.29 0.36 0.92 0.22 0.42 0.43 0.76 0.75 0.61 # 95th percentile volume exceeds capacity,queue maybe longer. Queue shown is maximum after two cycles. FY PM OPT 5:22 pm 10/13/2021 Synchro 11 Report Page 5 HCM 6th Signalized Intersection Summary FY PM OPT 2: Ocean Avenue & Federal Highway 10/15/2021 s,1qu ..�r� Lane Configurations Traffic Volume(veh/h) 51 82 48 249 114 254 44 807 172 276: 727 51 Future Volume(veh/h) 51 82 48 249 114 254 44 807 172 276 727 51 Initial Q(Qb),veh 0 0 0 0 0 0 0 0 0 0 0 0 Ped-Bike Adj(A_pbT) 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Parking Bus,Adj 1,00 1,00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Work Zone On Approach No No No No Adj Sat Flow,veh/h/In 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 1870 Adj Flow Rate,veh/h 55 89 52 271 124 276 48 877 187 300 790 55 Peak Hour Factor 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 Percent Heavy Veh, % 2 2 2 2 2 2 2 2 2 2 2 2 Cap,veh/h 216 129 75 289 364 308 62 1196 255 326: 1883 131 Arrive On Green 0.03 0.12 0.12 0.11 0.19 0.19 0.03 0.41 0.41 0.18 0.56 0.56 Sat Flow,veh/h " 1781 1107 647 1781 1870 1585 1781 2914 621 1781' 3370 235 Grp Volume(v),veh/h 55 0 141 271 124 276 48 535 529 300 416 429 Grp Sat Flow(s),veh/h/In 1781 0 1754 1781 1870 1585 1781 1777 1759 1781' 1777 1828 Q Serve(g_s),s 3.9 0.0 10.9 15.0 8.1 24.0 3.8 35.9 35.9 23.4 19.1 19.1 Cycle Q Ciear(g_c),s 3.9 0.0 10.9 15.0 8.1 24.0 3.8 35.9 35.9 23.4 19.1 19.1 Prop In Lane 1.00 0.37 1.00 1.00 1.00 0.35 1.00 0.13 Lane Grp Cap(c),veh/h 216 0 205 289 364 308 62 729 721 326 993 1021 V/C Ratio(X) 0.25 0.00 0.69 0.94 0.34 0.90 0.77 0.73 0.73 0.92 0.42 0.42 Avail Cap(c_a),veh/h 216 0 384 289 555 471 113 729 721 403 993 1021 HCM Platoon Ratio 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Upstream Filter(I) 1,00 0.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Uniform Delay(d),s/veh 53.3 0.0 60.0 52.1 49.1 55.6 67.7 35.2 35.2 56.7 18.0 18.0 Incr Delay(d2), s/veh 0.6 0.0 4.1 36.6 0.6 13.6 18.3 6.4 6.5' 23.1 1.3 1.3 Initial Q Delay(d3),sNeh 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 °l«ile BackOfQ(50%),veh/In' 1.8 0.0 5.1 5.4 3.9 10.8 2.0 16.8 16.7 12.6 8.2 8,5 Unsig. Movement Delay,s/veh LnGrp Delay(d),s/veh 54.0 0.064.1 88.7 49.7 69.2 86.0 41.6 41.7 79.8' 19.3 19:3 LnGrp LOS D A E F D EFD D E B B Approach Vol,veh/h 196 671 1112 1145 Approach Delay,s/veh 61.2 73.5 43.6 35.1 Approach LOS E E D D .,;i: 7 ri„ ti,�l=`iY�'z `1 tst iii':•. jt s, f4 i�t ''.,'l - f i t. i�'� si ,t'i.-{ i ,f 7 t, Phs Duration(G+Y+Rc),s31.9 64.0 22.0 23.5 10.9 85.0 11.0 34.5 Change Period(Y+Rc),s 6.0 6.0 7.0 7.0 6.0 6.0 7.0 7.0 Max Green Setting(Gmax) s 32.0 56.0 15.0 31.0 9.0 79.0 4.0 42.0 Max Q Clear Time(g_c+I1),s 25.4 37.9 17.0 12.9 5.8 21.1 5.9 26.0 Green Ext Time(p-c),s 0.5 7.0 0.0 0.7 0.0 6.6 0.0 1.5 HCM 6th Ctrl Delay 48.0 HCM 6th LOS D FY PM OPT 5:22 pm 10/13/2021 Synchro 11 Report Page 6 U-i Ll- > 0 .QL C/) 4-1 0' • Q a-J , N L N N N C : , 0 O — N a.., N ca N U O U •� NO +-+ O • �' 3 M M • l o U o O X0 O J 00 ' 'E l0 U Oa N U 1 rl O m cn .U M N (3) � m ClA � c L O • 'ca _0O O O 4-J N — ca O ca }, O O U U M = N Q N 4- a.:, N ate'' U N U •O �O O � `1 Q }' -0 O iU N .N — U cn � `(3j 4., 4-3 (J O N Q o N rO L X -0 : :EN C N cv N a.., ca cerin O +N., 0 .v 0 �A W -0 O N N c�6 _� U N i Ot�: U ca Q Uc6 Q L ro ro m •ro � O W kb��ad: M }, }, •N u U • � r 6w) �z ,lS 3 h x ll 4 +Sns' 1 w �e ink rt , t: \ �7r tiV� ti 7 •iF �� _ tt n+jt}� _ r f t t r - t r Y ggg c 12 c� int Z r 0._ Ip uj LU r Ir i co uj y m i LMU1 } I Y QA3lnO'a NV3)0 • LL Co CD CD M CL 0 • CD o t i ♦ ue - a x f �j S}� A EL3 j ry CO }u { • C { art ♦♦♦ d5 tixyn16 =,q 0 00 E 3nN3AV IS 3N, • • r� k1 xA €t1' � u. 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(A CL Vi CtG w D w �' fD w g == %- LL V) (U w w Q3 " w fQ — m X m F— w Vs L } • w I. c Ln O u > `Ct�q 'in u Qt q � — 4--0 F3 V7 0 w C o Fes- + - Q u LU 4-0 10 Lo UO cr Vf �' D CL tJ rV7 — + w Q7 D CO Vf C L V7 Qj CUate+ p M «�!' tD w A E C3 w � w C s V) U as tt! = a tCI m 4,,0 m > = m tv Vi f9 � a w a 0 CO 41 Q '� m o m = �' _ 0 E w Z,4-J a Q w , un -i > Q 7 V) E M as "` «_ W 4 M � �, w vLn CC' 75 awo ami u 4 � w - v _. w E u u E Q u 0- [2 ..- m �o u " w w o ° > m w M ° 0 m c w 2 ami' brIghtfine, October 1 , 2021 Mr,Jeff Burns I Affiliated Development 613 NW 3,d Avenue, Ste 104 Fort Lauderdale, FL. 33311 RE: The Pierce, Boynton Beach mixed-use project incorporating workforce housing along the FEC and adjacent to FEC-owned land Mr. Burns: I am writing this letter to thank you for taking the time to meet with us at Brightline to show us your development plans for the site in Boynton Beach, adjacent to our property on SUE W" street. Should your bid be selected by the city of Boynton Beach, we would be pleased to work with you and your organization to ensure continuity between your project and any eventual plans along the Brightline/FECR corridor. As discussed,there is an unavoidable link between public transportation and workforce housing, which you've been advocating for in Miami, Broward and Palm Beach counties. We are familiar with Affiliated Development's capabilities and as Boynton Beach stakeholders, we look forward to ongoing dialog as you pursue your plans. Sincerely, �m Ben Porritt Senior Vice president Corporate Affairs Brightline Trains 161 NW 6TH STREET I SUITE 900 1 MIAMI, FL srtl t f �I µ. - �S a„ r S � r .r f� t+ 1 3 I I ! l IV VA 'eI J 14 - t 7 tt 6 1(t yg t +ltt �i�ss11 �`'i;li kt} - ? 3�s r 3 131 a MY ��j�r�r,t;i` sr } �p }q}tr tit t W s s 4y ({x Ma at „c i �.............. � - rs, sr ? . }\\�' ' r i�rjSS3\\t ��s?�s`'•- y 1 sI � (��)S ��s� � � -_ s��l r r. i k �, ,.: • • as a m • N A Cr q a AllIh r €i S 6 41 y ws « 0 k a A tiP Q ° a A A E yy 1 4tl yp (A �l aM Q) s Qj /1 W r w�rc d ar wrow 11 R v I Jif �s �rrt t ��, ,r r V r z d was s r �r{fit 1r ii r r3r(r } ! — rk?ttj s r ' i� r - z r�,�r s r}f>< ;— srl 1 sr.+'� sr, 1 i� t rtrr(t{ ;y, �``ri�rmnnrss}rlr r r#� � � ( yri(�yrl r 1r {l r L a � 1 4 Nil „�trisrti f; �r i(� 4ir ti 7 r r4 sr {Ss rs r i iris (( � "'_t , rs t I�— irM1 1 r r f > ` gttltt�Ss,<, ilk, �r; i 1l >> ,�env ,�G� tttir.>z R11a' 0 M U C f6 a) - f6 d O + °-a C C L �ti - S Q0ubio - UC , U C: O , •� 0 7 s -a +' C 3 ++ O '- O a) 0 +� ul C O Q +' s Q L - C a) 'n (6 m L L a) +1a) VI s L N s v 0 U U ++ N E = c6 a) •�' ago > c °' a) +' 0 �n 4- w 3 Q L 0 U L aci 3 axi o u a") � c � z � a) � a) ° a) c -a 'o a) a) -a s c s a) nz 0 M a) L -a -a °� C *' N E .0 Z N Q N 4s L 4 O to N 'a a) �n a) s 0 O as, O U s-+ Q � S C a) C Q s s L VI 4, >mW aM•-. 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Required Sustainable Development Standards(Table 2-1). 1.Required Sustainable Development Standards Outdoor Lighting Utilization of warm while LED lighting for parking lots,pathway lighting,accent lighting and exterior building lighting. Butterfly Attracting The landscape plan is designed to utilize a minimum of 5%butterfly attracting shrubs and Landscape Material trees in,the planting scheme,with a minimum of three(3)different spades of plant material. Provision of Level 2 charging station capable of servicing two(2)parking spaces for every Electric Charging Stations fifty(50)dwelling units,or fraction thereof,in residential developments and one,(1)per I every fifty thousand(50.000)square feet of non-residential development, [�White Roof It Required for all products utilizing flat surfaces,roof must be white. lord19-027,passed 9-5-19;Am.Ord.19-028,passed g-5-19) Sec.3. Sustainable Development Options and Points(Table 3-1). _1.Energy. The use of any combination of the following strategies for areas of the non- roof impervious site(including road,parking lots,driveways,sidewalks and courtyards). Provision of shade within parking1pedestrian areas from open structures, such as pergolas,covered walks,parking lot sunshades.etc,,with a Solar Heat Island Reduction Reflective Index(SRI)of 29,as demonstrated by the manufacturer or the architect of engineer of record. . Use of only paving materials with a Solar Reflectance Index(SRI)of 29, as demonstrated by the manufacturer or the architect or engineer of record. . Use of only canopy trees within,and along the perimeter of parking lots, following the regulations in the Landscape Code for"Large Landscape islands." 25%of the non-roof impervious site 2 50%of the noes-root impervious site 4 75%of the non-roof impervious site 6 Efficient Cooling All air conditioners are Energy Star qualified,Minimum SEER M 2 Efficient Water Heating At least 75%of hot water on premises is heated via Energy Star Certified 2 water heaters or solar water heaters. Use roofing materials that have a Solar Reflective Index(SRI) 75 for low- Cool Roof sloped roofs(a2:112)or 25 for steep-sloped roofs(�2,12)for a minimum of 2 75%of the Mof surface, Lifilization of white or cool light colors for the body of buildings to reflect rather Building Color than absorb heat and reduce cool i ng costs.Accent and trim colors are not 2 limited to those choices. Shade Structures for Where provisions of shade structures are not required per code:Structures Buildings such as awnings,screens,louversor other architedural devices shall cover 4 a minimum of 50%of glazed openings, Where provisions of shade structures are not required per code:Structures such as awnings,screens,louvers,or other architectural devices shall cover 6 a minimum of 75%of glazed openings. The primary building is constructed with skylights that provide at least 10%of Skylights the light necessary for daily use on the story on which the skylights are 1 located. 4 A portion of the energy used by the primary building is 15%minimum 8 Renewable Energy generated using solar panels,wind turbines,or other 30%minimum 12 renewable source located onsite, 45%minimum Solar Heated Pool install solar water heating rather than gas or electric. 2 Lighting Provide energy efficient lighting such as LED lighting for building interiors for 100%of proposed lighting, 1 I Energy Star Appliances All appliance within a building are 100%Energy Star, 2 Insulation Provide increased insulation to achieve a minimum R-19 in walls and R-3B in 2 the ceiling. .................................. 2.Recycle and Waste Reduction. Recycle Content in Infrash-ucture For all now roadways,parking lots,sidewalks,and curbs. 2 A minimum of 50%of the building materials used are to be green Building Material materials,recycled,locally-produced materials,or sustainably- 2 harvested wood. Recycle StationlDumpster Area Recycle chute(s)in mixed use districts and dumpsl8r,which Include a 1 recycle station, 1 Water Conservation and Management Utilization of reuse water for Irrigation(if adjacent to site), 2 ReLfSe Water Utilization of reuse water for irrigation(if requested and approved by the Utilities 4 Cepartment to be brought to the site). The development includes rain gardens designed with native plants material installed in a sand/soil matrix soil bed with a mulch cover layer- Rain Gardens(Bio-swale Commercial:consisting of a minimum of 1,000 square feet, 3 or talo-retention System) Mulfi-farrilly or Mixed Use with less than fifty(50)units.consisting of a minimum of 2 five hundred(500)square feet, Multi-family or Mixed Use with more than fifty(50)units consisting of a minimum 3 of one thousand(1,000)square feet. Rain Water Reuse At least 75%of rain water from the roofs of structures is captured and recycled for 4 landscape Irrigation, Permeable Parking Permeable surfacing materials are used for some or all of 25%minimum 4 Surface's surface parking areas. 50%,minimum 6 751ra minimum 8 Permeable Sidewalk Permeable or acceptable natural surfacing materials are used for all sidewalks. 3 Surfaces Vault System utilize a vault system for stormwater management to maximize u5abie open space 4 on urban sites, 4.Urban Nature At least 50%of the total surface.ce area of the principal build Ing's root is a green Green Roof roof constructed in accordance with ASTM green building standards- 6 At least 75%of the total surface area of the principal building's roof is a green 8 roof constructed in accordance with ASTM green building standards. Provide a minimum of three hundred(300)square feet of an irrigated vegetated wall,which is Visible frorn right-of-Way OF private arrionifies, 9 Provide a minimum of six hundred(600)feet of an irrigated vegetated wall, Green Wall which is visible from right-of-way or private amenities. 4 Provide an entire facade(over 600 square feat)of an irrigated vegetated wall, 6 which is visible from right-of-way or private amenities. Public pedestrian and/or bicycle access to natural elements is provided by a bike of pedestrian path or trail that is at least 1/4 mile long and does not intrude 1 Nature Path or Trail on or unduly harm existing natural features. Public pedestrian andlor bmycla access to natural elements is provided by a 2 bike or pedestrian path or trail that is at least Y mile long and does not intrude on or unduly harm existing natural features. At least 50%of the total surface area of the top of the parking structure is a green roof or green wall. 4 Parking Structure.Green At least 75%of the total surface area of the top of the parking structure is a 6 green roof or green wall. The total surface area of the top of the parking structure is a green roof or green wall. —----------------- Provide canopy trees in an amount that exceeds the minimum number of 2 required trees by 10%. Provide canopy trees in an amount that exceeds the minimum number of 3 Tree Canopy required trees by 15%. Provide canopy trees in an amount that exceeds the minimum number of 4 required trees by 20%- Provide canopy trees in an amount that exceeds the minimum number of 5 required trees by 25%. Within residential or mixed use projects,the dedicabon of permanent and viable Community Garden growing space and related facilities(such as greenhouses)at a minimum of ten 3 (10)square feet per unit,and including the provision of fencing,watering system,soil,and secured facilities garden tools/equipment, Using only native or Florida Friendly plant species,restore pre-development Habitat Restoration native habitat on the pro*t site in an area equal to or greater than 10%of the 4 development footprint,working with a landscape architect to ensure that restored areas feature waterwise,native and drought tolerant plants, Provision of usable common open space in excess of code requirements by up Minimum Open Space to 20W The designed space shall not have any dimension less than seventy- 4 five(75)feet. 5.Transportation. Parking Structure At least 75%of th e devel opm ent's total n umber of requi red off-street 2 parking spaces is contained in a parking deck or garage. Electric Charging Stations Provide two(2)over the required number of electrrc car charging stations. 2 Provide(our(4)over the required number of electric car charging Matlions- 4 . Indooror self-contained bicycle storage lockers equal to a minimum of Facilities for Bicycle 3%of the vehicle parking spaces required with the non-residential 2 Commuters development 4 Shower and dressing area for he employeas,in addition to the above, 6.Other Sustainable Develapment Opportunities The development includes other green features that conserve energy, Other promote a healthy landscape,support public health and safety,or Up to 6 increase susta-mability-points to be awarded at the discretion of the 71 Development Director. (Oru7e-02rpassed s-5-19�Am.Ord.1a-0zopassed e5-1o) Total Sustainable points = 5O+ points • ®_ � � r N' u. g, 7' a 0cax tt '�)`ml tis tSl1t � &., i r 1 ii tl pp i �i l� )1!1 itrjl�ypl'rRal i Vt'yr� Z5 NIT Ld AW "� "4 i 1 1 si i its, fi} 'd LIr it" I'd IIt �1, ii�Z s iit�i� �4I I'll4)Y�i�_ IN "i �� k t * �irSj hl�i. i �--=N� } "1 `� r i# �7 �s ll) i �P � �4�# �r �.' is OA19 NV900 d' uu Q' J LL w LL. 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ATTACHMENT"F" PROPOSED PROJECT FUNDING USES AND SOURCES INFORMATION Project Uses and Sources $ 8,765,000 Land Costs - $ 2,816,900 Soft Costs - $ 52,274,500 Construction Costs - $ 4,890,996 Carrying Cost/Financing Costs - _._..... _..... _. ........... $ 500,000 Marketing and Sales Costs - 4ost 2,739,617 Permit and Impact Fee Costs 1,160,411 Developer Overhead and Profit 73,147,424Total Project Capital Stack Proposer/Developer Equity $ 18,944,969 - Outside Capital Investor Equity $ 0 - Mortgage or Financed Amount $ 43,888,454 - Amount of BBCRA contribution requested, if any $ 0 - Other funding as identified $ 10,314,000 - Funding Total $ 73,147,424 - Page 24 of 30 • • o +! fa c E L a� a� r� a� • o U C - U 'L 1 C U E d (6 Vf M w O w w -1 1, O O O O O Coco ri 0 0 0 0 0 0 0 r-I w w M w Vf 1l r-1 O N O O O O O O Vf O Vf l0 O O O O O 01 O Vf OR, It It O l0 O : C. 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The Developer seeks gap funding from the Boynton Beach Community Redevelopment Agency ("CRA"). The Developer and CRA are collectively referred to as the"Parties",or individually as a"Party'. The purpose of this funding commitment("Commitment") is to set forth the general understanding between the Parties regarding the proposed Project as set forth herein. By resolution, the CRA Board authorize CRA staff to prepare a Tax Increment Revenue Agreement ("Agreement") incorporating the following terms and conditions. These terms and conditions will serve as an outline of the proposed Agreement for approval by the Parties. DEVELOPER: BB QOZ, LLC, a Florida limited liability company and/or any approved successor or assign thereof. CRA: Boynton Beach Community Redevelopment Agency,a public body corporate and politic of the State of Florida pursuant to Part III,Chapter 163, Florida Statutes. DETERMINATION: The CRA determines that the Project is consistent with and furthers the goals and objectives of the Boynton Beach Community Redevelopment Plan by eliminating slum and blight, creation of workforce & affordable housing, creation of public parking structures, improving public roadways and infrastructure,and fostering redevelopment. CRA BOARD: The CRA Board consists of 5 members who also serve as the Mayor and City Commission for the City of Boynton Beach. PROPERTY: 8 parcels of land (to be combined via unit of title) situated within the Downtown District of the CRA as more specifically described in the attached ExhibitA. PROJECT: The Buyer is purchasing the Property for purposes of developing a mixed- use project containing a mixed-income workforce housing rental apartment building,restaurant and retail space,office space,and a parking garage containing private and public parking. The Project will be a transportation- oriented development and provide public pedestrian connectivity within the Property. See Project site plan and renderings attached as Exhibit B,which require all necessary Approvals and may be revised in order to obtain same. Notwithstanding the foregoing,any material change(or series of changes)to the Project as depicted in the Commitment representing a greater than 10% change to the gross floor area, or greater than 25% change to the total number of dwelling units shall require approval by the CRA Board. AGREEMENT: The Tax Increment Revenue Agreement to be entered into by and between the Parties, detailing terms contained in this Commitment including any exhibits and any amendments. APPROVALS: All required site plan, zoning and land use approvals necessary by the applicable Governmental Authority to construct the Project on the Property. 1 LENDER: The first mortgage lender to be selected by Developer to provide financing for developing and operating the Project, which may be secured by a first priority mortgage,security interest,pledge,lien or other encumbrances. The CRA shall reasonably tailor the terms of the Agreement in order to meet the requirements of the Lender. FINANCIAL CLOSING: The date on which all Project financing agreements have been signed and all required conditions contained in such agreements have been satisfied. TIF REIMBURSEMENT: Commencing on the Financial Closing date until the sunset date of the CRA ("TIF Term"),the CRA shall provide an amount equivalent to 95%of the tax increment revenues attributable to the Project ("TIRAP") and collected by the CRA,in the form of an annual reimbursement,within 30 days of receipt of the TIRAP("TIF Reimbursement Payments"). In order to qualify for the TIF Reimbursement, the Developer shall be obligated to pay full property taxes each year as required by Florida law and provide a payment receipt to the CRA. Should construction of the Project fail to be completed pursuant to the terms of the Agreement, the CRA shall have no obligation to make TIF Reimbursement Payments. AMI: Area Median Income("AMI")shall mean the Palm Beach County Area Median Income as set forth each year by the Department of Housing and Urban Development ("HUD"), or pursuant to another government monitoring authority agreed to amongst the Parties. MIXED-INCOME HOUSING REQUIREMENT: The Developer agrees to rent the units in accordance with the following:Tier One: ^-3.8%of the total dwelling units to tenants that earn up to 80%of the AMI;Tier Two: ^-22.6%of the total dwelling units to tenants that earn up to 100%of the AMI;Tier Three: ^-23.6%of the total dwelling units to tenants that earn up to 120%of the AMI;Tier Four:the remaining total dwelling units shall be unrestricted. In any such case, the Mixed-Income Housing Requirements shall be adjusted as necessary in order to meet the minimum code requirements of the City of Boynton Beach's Workforce Housing Program. RESTRICTIVE COVENANT: At Financial Closing, the Developer will record a Restrictive Covenant containing the Mixed-Income Housing Requirements,which shall remain in effect for a period of 15 years following Financial Closing ("Term"). The Restrictive Covenant form shall be attached to the Agreement and approved by the Lender. COMPLIANCE: Developer shall ensure that the Workforce Housing Units are occupied by eligible households at the time of initial occupancy during the Term of the Restrictive Covenant FORCE MAJEURE: Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent and for so long as such failure or delay is caused by or results from causes beyond the reasonable control of the affected Parry,including but not limited to fire, 2 floods,embargoes,war,acts of war(whether war be declared or not),acts of terrorism, pandemics,insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances,acts of God or acts,omissions or delays in acting by any governmental authority,or the other Party. Events of Force Majeure shall extend the period for the performance of the obligations for a period equal to the period(s) of any such delay(s). SUBORDINATION: All the terms and provisions of the Agreement shall be subordinate to the Lender and the rights granted to Lender in connection with the loan secured by a first mortgage, including all subsequent agreements required by any funding parry. Without requiring CRA approval,and subject to any statutory provisions related to the use of public funds, the CRA agrees to tailor any provisions necessary in any of its documents in order to meet the commercially reasonable requirements of the Lender. MAINTENANCE/REPAIRS: During the construction of the Project,the Developer shall at its own expense keep the Project and Property in good and clean order and condition,and in compliance with all applicable statutes, codes,regulations, and ordinances. All construction will be done in accordance with applicable Approvals, building codes,and to the permitted set of plans and specifications. Upon the construction completion date, Developer, its successors and assigns,at its own expense, shall have a continuing obligation to maintain the Project and Property in good repair and in a commercially reasonable manner as may be required by the City Code of Ordinances. TAX PAYMENTS: Developer shall be obligated to pay all ad valorem property taxes due upon the Property and the Project as required by Florida law. INSURANCE: The Developer shall purchase and maintain, at Developer's own expense, insurance in forms and from companies reasonably satisfactory to the Lender. AUTHORITY TO EXECUTE: The CRA Director is granted authority to execute the Agreement consistent with the terms and conditions of this Commitment and approved for legal sufficiency by the CRA General Counsel,who serves the CRA Board. The Parties will use good faith efforts to finalize the Agreement in accordance with the terms set forth herein no later than 60 days following the approval of this Commitment by the CRA Board. This Commitment and the Agreement shall be made and construed in accordance with the laws of the State of Florida. This Commitmentsupersedes any prior commitments and agreements,oral or written,to and with CRA and Developer or any affiliate thereof,with respect to the subject matter contained herein. This Commitment may be executed in one or more counterparts,each of which shall constitute an original and together shall constitute one agreement. No unauthorized transfers of this Commitment shall be permissible without written approval from the other Party,unless such transfer is managed by Developer. The Commission authorizes the CRA General Counsel to finalize the Agreement in consultation with the CRA Director incorporating all terms and conditions set forth herein. The parties acknowledge that the undersigned have the legal authority to execute this Commitment and to bind the entities named herein. (SIGNATURE PAGE TO FOLLOW) 3 AGREED TO AND ACCEPTED: DEVELOPER: BB QOZ,LLC A Florida limited liability 5-omPany ell By' ;.. m e� ey Burns,Manager tom' Date: f CRA: Boynton Beach CRA By _ Steven B.Grant,Board Chair Date: 4 EXHIBIT"A" PROPERTY LEGAL DESCRIPTION m 5 ca m > > 7 O V L) 61 m CP) $ Li Q,0 o LL W W LEI Z v C> I,d3'Lll T [�jJ O u7 Z. 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ASS.ADVISORS,LLIC FQr the Firm �r Gabnel Atva`az Managrrg Partner 01h BankUnited Commercial Real Estate 7765 NW 148th Street Miami Lakes, FL 33016 October 15, 2021 RE: Affiliated Development TO WHOM IT MAY CONCERN: It is my pleasure to provide you with this banking reference on our valued client Affiliated Development with whom we have had a banking relationship since 2020. The relationship currently includes aggregate financing in the range of$80,000,000. All loans and accounts have been handled in a satisfactory manner and are in good standing. Our experience with Affiliated Development has been positive and we aspire to continue supporting them in their efforts to continue developing mixed-use multi-family projects in South Florida. Please let me know if you have any questions or if I can provide any additional information to assist you in your evaluation of Affiliated Development. Sincerely, Patricia Lubian Senior Vice President Commercial Real Estate T) 786.313.1145 C) 786.427.4875 E) plubianp_bankunited.com City National Bank B,ci FINANCIAL GROUP October 12, 2021 Nicholas Rojo Affiliated Development 613 NW 3rd Ave Ste 104 Fort Lauderdale, FL 33311 Re: The Pierce: A 2.5-acre parcel of land located in downtown Boynton Beach, FL with proposed improvements comprised of approximately 236-unit multi-family residential building and approximately 16,800 square feet of commercial and public use space(the"Project") Gentlemen, City National Bank of Florida ("Bank") is pleased to provide you with the following indication of interest which discusses the basic terms currently being contemplated for the proposed extension of credit to the below-referenced Borrower. The following is not o commitment to lend,but rather on expression of interest on behalf of the Bank.A formal commitment to lend may only be issued after the Bonk has completed its full underwriting, including its customary due diligence processes, and approval by the appropriate approving authority. As such, the terms and conditions outlined herein ore subject to change in whole or in port. We have financed other similar projects with your organization, have evaluated your (borrower and principals)financial capabilities,and look forward to working together on another successful development project. BORROWER: BB QOZ, LLC The final ownership and structure of the borrowing entity, including its respective principals and investors, shall be subject to review and approval by Bank and its legal counsel. GUARANTOR: Mr. Nicholas Rojo and Mr.Jeff Burns ("Guarantors") shall, on a joint and several basis, guaranty completion of the Project, and guaranty payment of all interest. PO Brix 025620 Miami, FL 33102-5620 citynational'.ccm Member FDIC I Equal Housing Lender AMOUNT/ FACILITY TYPE: The contemplated Construction Loan Amount shall be subject to a maximum of 60% LTC or 60% LTV based on an "as complete and stabilized" appraisal, whichever is less. PURPOSE: To provide senior secured financing for the development of the Project. INTEREST RATE: 1 month LIBOR plus TBD Rate,floating. MATURITY/TERM: Thirty-six (36) months ("Initial Term") with two additional one (1)year extensions, conditioned upon the following and the 'Extension Option' criteria: CONFIDENTIALITY. This Indication of Interest is confidential and proprietary in nature between the Bonk and the Borrower and the contents thereof,shall not be shored,distributed or disseminated in any form to any third party(including to any other potentiol lenders) without the express written consent of the Bonk. Borrower may shore this Term Sheet with its legal and financial advisors, but only on the strict condition that such advisors shall keep this Term Sheet confidential os required above. Thank you in advance and we look forward to the opportunity to build a long-term, mutually beneficial, relationship. Sincerely, ao gma 4t David Albright Senior Vice President City National Bank of Florida Page 2 of 2 TREZCAPITAL October 13,2021 To whom It may concern- This letter is to confirm that the principals of Affiliated Development("Affiliated"),Nick Rojo and Jeff'Burns, are current clients of Trez Capital 1.ap together with its successors and assigns, "Trez"). Through the course of our relationship,Trez has extended over$75,000,000 in credit to finance mixed- sc projects developed ley Affiliated. On a personal level I have known flick Rojo and Jcff Binns for several years and believe they arc capable developers with the ability and financial wherewithal to continue to successfully execute on projects. We value our relationship with Affiliated and look forward to participating in future financings,including the proposed fierce project. Very truly )urs, r:.-mss "zR `.i i < <tdj)tI n c r.plfh • • lb N L m • E 7i Q V • Cr � OL C v a .� .� Q J t i �••� V i fa +.+ O OLa. ca ca v v 11,641 i •N O O i LMUV U-i Ll- > 4-1 4-1 4-1 F • 4-0 buO 4J +,, Jm ++ CLW Q w o Q L u • ' C 40- CL C W 1 c w E N au — U a a , 0 t • � a - 4 © Q N < V)1 CC 'Cts -a ca� m N C t�J GL m E " d Q tU .G 0 C -0CL .�. c i i Q � t3 t'tS cr. C Q ir► -J a CL 0 CC)an 40 0 Rs L •� i a� r ui Ci ori w M tU uCL c7 a ccs N CL Ln tn AA m LA, 0 ° CL C , c cca �. U W co 4-0i � tti O (1) Dzi C -n Cts -04- ++ M Z; QJ DC7 -C0 o " , .:© ! ... C:c CL CO m u $- LMU 5 0 0 0 o � w � © its .�. L�- IWWO s - -C t�Cs QJ ' F— h F tats-0 F- v AAFFILIATED c=\= — DEVELOPMENT October 5,2021 Boynton Beach Community Redevelopment Agency ATTN: Ms.Thuy Shutt,Director 100 East Ocean Avenue,4th Floor Boynton Beach,FL 33435 RE: Letter of Intent to purchase the Property and enter into a Purchase and Development Agreement,as further defined below Ms.Shutt: We are pleased to present the following Letter of Intent('101")to outline certain basic terms,duties and obligations under which Affiliated Development proposes to purchase and develop the Property (hereinafter defined). The Terms and Conditions are as follows: 1. PROPERTY: 7 parcels further detailed below: a. Parcell: i. Physical Address: 508 E.Boynton Beach Blvd,Boynton Beach,FL ii. Parcel#: 08434528030010060 b. Parcel 2: i. Physical Address: NE 4th St.,Boynton Beach,Fl, ii. Parcel#: 08434528030010080 c. Parcel 3: i. Physical Address: NE 19t Ave.,Boynton Beach,FL ii. Parcel#: 08434528030010100 d. Parcel 4: i. Physical Address: 115 N.Federal Hwy.,Boynton Beach,FL ii. Parcel#: 08434528030060010 e. Parcel 5: i. Physical Address: 511 E.Ocean Ave.,Boynton Beach,FL ii. Parcel#: 08434528030060100 f. Parcel 6: i. Physical Address: 515 E.Ocean Ave.,Boynton Beach,FL ii. Parcel#: 08434528030060111 g. Parcel 7: i. Physical Address: 529 E.Ocean Ave.,Boynton Beach,FL ii. Parcel#: 08434528030060120 2. SELLER: Boynton Beach CRA. It is understood that Parcel 1,Parcel 5,Parcel 6 and Parcel 7(the"To Be Owned Parcels")are currently owned by separate parties not associated with this LOI,but that the Seller has these parcels under contract,as further demonstrated in Exhibit A to this LOL Seller shall close on the To Be Owned Parcels ahead of Closing on the Property contemplated in this LOI. 3. BUYER: BB QOZ,LLC,or permitted transferee Buyer,, Seller ED _ 1 1_..._ ...�_ 1te=\_\VDEVEL0PMENT 4. MOLE PRICE. $5,SlS,000 subject to customary adjustments,fee simple interest free from all liens,encumbrances and judgments, . PRD ECT: The Buyer is purchasing the Property for purposes of developing a mixed-use project containing amixed-income workforce housing rental apartment building,restaurant and retail space,office space,and a parking garage containing private and public parking. The Project will be a transportation-oriented development and provide public pedestrian connectivity within the Property. 6. PURCHASE&DE YS P 1 l T�aE I l: Within 9 days following the execution of this 1,01,Buyer and Seller will execute a Purchase&Development Agreement(the"Agreement") consistent with the terms and conditions contained herein. The Agreement shall be executed simultaneously with the Parking Lease Agreement and Parking Garage Purchase Sale Agreement(as contemplated herein), 7. DLIE D1L1 E CE; The Agreement will contain usual and customary representations, warranties,covenants and other agreements on behalf of Seller. As part of the Request for Proposals and Developer Qualifications for 115 N.Federal Highway Infill Mixed-Use Redevelopment PrDlect(the" Pj Q"),Seller has provided Buyer with Due Diligence Materials(as defined hereunder), In the instance that certain Due Diligence Materials have been omitted by Seller;and certain true Diligence Materials are necessary in carder to carry out the Project as planned,Buyer shall have a period of 60 days from the effective date of the Agreement (the"Due Diligence Period")to conduct any remaining inspections and examinations of the Property as Buyer requires anal as omitted during the RFP/ Q process, At any time prior to expiration of the Due Diligence Period,Buyer shall be entitled to terminate the Agreement in Buyer's sale and absolute discretion,In the event of such termination,Escrow Agent shall immediately return the Escrow Deposit to Buyer, & R E BILI ENCE MA'T'ERIALS: From and after mutual execution and delivery of this LDI, Seller,at its coast and expense,shall procure and deliver to Buyer all existing material documents in its possession relating to the Property,including,without limitation:(i)any and all reports regarding the presence of Hazardous Materials on or about the Property including environmental reports;(ii)recent property tax assessments and bills,(iii)all documents or contracts evidencing obligation of Seller to be assumed by Buyer;(iv)current insurance policies;(v)information on liens and opera permits,(vi)previous,current and proposed building plans&specifications,(vii) any estoppel certificates as may be required y a lease,(viii)all current leases and rent rolls,(ix)any and all contracts that may exist between Seller and a third party entity performing work on the Property,( )any report in the possession of Seller including appraisal(s),property condition report(s),and all other studies,notices or information pertaining to the condition or value of the Property,(xi)any other documents or information the parties deem relevant and necessary in the Agreement. Seller shall grant Buyer the right to enter the Property to conduct its due diligence. Buyer will indemnify,defend and hold Seller harmless from and against any damage suffered as a result of any such clue diligence activities and shall restore the Property to substantially the same condition as found, 9. IURVEY: Seller shall provide Buyer with a copy of any existing ALTA survey, Buyer shall be responsible for updating or procuring a new survey. 1R APPf3.OVA : Within 4 months following the effective date of the Agreement,Buyer(as Buyer's sole expense)shall apply for all required Approvals from the applicable authorities necessary to construct the Project on the Property,including but not limited to Land Use Buyer — Seller _.................... . AFFILIATED //Act--\\: — D EVE LO PM E N T Approvals and Gap Funding Approvals. Land Use Approvals shall be any necessary land use entitlements necessary to construct the Project on the Property,including but not limited to: formal site plan approval,alleyway abandonment,utility relocation,rezoning or comprehensive plan amendments,all variances,waivers and other ancillary approvals required to obtain all land use approvals necessary to obtain a building permit to construct the Project on the Property. Gap Funding Approvals shall be all city,county or government agency incentives or gap financing necessary to fund the Project. Seller authorizes the Buyer to apply for and obtain the necessary Approvals and agrees to cooperate in any such applications and approval process and to execute without delay any and all required documentation necessary to make application for Approvals,as well as to assist and otherwise cooperate with the Buyer in addressing requirements in order to secure the Approvals. 11. ESCROW DEPOSITS: Within 5 business days following the execution of the Agreement, Buyer shall deposit in escrow the sum of $50,000 to Kapp Morrison LLP(the"Escrow Agent"),which shall be credited towards the Purchase Price at Closing. Escrow Deposit shall be nonrefundable upon the expiration of any appeal period for Project Approvals. 12. TITLE INSURANCE: Buyer shall procure a title report or commitment("Title Report")for the Property from Fidelity National Title Insurance Company(the"Title Company')together with copies of all underlying documents of record referenced therein. Seller shall provide prior owners policy if in possession of same. Seller shall work the Title Company to complete any paperwork necessary to complete a unity of title,unifying all Property,which shall be completed by the Title Company prior to or after Closing. 13. CLOSING, Closing of the Property shall occur within 90 days after Buyer obtains Approvals. 14. COSTS: Buyer shall pay for the cost of the owner's policy premium,search and exam fees, and deed recording fees. Seller shall pay the costs of any and all transfer or documentary taxes and/or fees and escrow fees. Seller is responsible for any brokerage or sales commissions due relating to the sale of the Property. 15. GARAGE: Buyer shall,subject to final Approvals,construct a parking garage containing approximately 573 spaces within the Project,150 of which will be dedicated as public parking. 16. GARAGE SALE:: Buyer and Seller(and/or the City of Boynton Beach)shall enter into a separate purchase and sale agreement setting forth the terms in which the Buyer shall construct and sell the parking garage to the Seller(and/or City of Boynton Beach). The terms and conditions of the Garage Sale shall be found in Exhibit ,Parking Garage LOI. 17. GARAGE LEASE: Buyer and Seller shall enter into a separate lease agreement setting forth the terms in which the Buyer shall lease back approximately 326 parking spaces from Seller. The terms and conditions of the Garage Lease shall be found in Exhibit C,Parking Lease LOL 18. TRANSFERS: Buyer shall be permitted to transfer or assign this L01 or the Agreement to another affiliated entity of Buyer,provided that such entity is managed by Buyer principals Jeff Burns and Nicholas Rojo. Any other such transfer or assignment shall only be permitted if approved in writing by the Seller. 3 Buyers `ter_ Seller®. _ FFILIATED DICE VE L 0 P M E N T 19. REVERTER: Subject to Force Majeure,in the event; (a)Buyer has failed to secure a debt funding commitment for the Project and(b)commenced construction activities on the Property within 36 months following the Closing,the Property shall revert to and transfer over to the CRA in an amount equal to the Purchase Price plus out of pocket predevelopment costs incurred by Buyer. In the event of a reconveyance,all plans,permits and approvals shall immediately transfer over to the CRA. The Buyer is authorized to extend any such reconveyance by a period of up to 180 days provided that the Buyer can provide CRA with reasonable evidence that the Buyer is actively pursuing construction of the Project 20. JOB-FAIRS&APPRENTICESHIP: Buyer will require its general contractor to 2 job fairs targeting residents and businesses located within the City of Boynton Beach.The job fairs will be held at a venue within the City of Boynton Beach and marketed within sixty(60)days from the date the subcontractor participating in the job fair is set to mobilize on the Project. Furthermore,Buyer will require its general contractor to utilize best efforts to participate in an apprenticeship program targeting City-registered MWBE minority and woman owned small businesses that want to gain large-project experience. 21. PERMANENT JOBS: Buyer will include language in its leases with all Project retail, restaurant and office leases that requires that tenant to utilize best efforts to hire full-time equivalent or part-time jobs to residents located within the CRA and/or City of Boynton Beach. 22. TERMINATION: Either Party may terminate the Agreement in the event of a default by the other Party,subject to standard cure rights by the defaulting Party,as more further outlined in the Agreement In the event of a termination in accordance with any of the provisions the Agreement,neither Party shall have any further rights or obligations to the other,unless otherwise specified in the Agreement 23. FQR_CE MAJEURE: Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent and for so long as such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, including but not limited to fire,floods,embargoes,war,acts of war(whether war be declared or not),acts of terrorism,pandemics,insurrections,riots,civil commotions, strikes,lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority,or the other Party. Events of Force Majeure shall extend the period for the performance of the obligations for a period equal to the period(s)of any such delay(s). 24. AUTHORITY: Both Parties represent that the execution and delivery of the LOI and Agreement and the consummation of the transactions contemplated hereby do not and will not(i)violate or conflict with the organizational documents of Buyer or Seller; (ii)breach the provisions of,or constitute a default under,any contract,agreement,instrument or obligation to which Buyer or Seller is a party or by which Buyer or Seller bound;and (iii) require the consent or approval of any other third party. The Parties executing the Agreement are authorized by their respective organizational documents to enter into the Agreement and bind each Party to the terms hereof. 4 Buyer Seller AFFILIATED __ % DEVELOPMENT This LOI shall be executed simultaneously with Exhibit B,Parking Lease LOI,and Exhibit C,Parking Garage LOT. It is understood by both Parties that this LOI is non-binding and is simply an indication of the current terms and conditions under which the Buyer is willing to go forward with purchasing said Property. Notwithstanding the foregoing,at the time the Buyer is selected by Seller pursuant to the RFP/RFQ the Parties may negotiate and revise this LOI,and any exhibits,as necessary in order to reach agreed upon Terms. Parties agree to work in good faith to finalize and execute the Agreement under the same terms and conditions contained within the final executed LOT. This LOT may be executed in one or more counterparts,each of which shall be deemed an original,but all of which will be deemed one instrument. Parties may execute this LOT and transmit same by facsimile or email, and in such event,agree that acceptance by facsimile or by email shall be treated in the same fashion as an original signature. The Effective Date of this LOT shall be on the later of the dates as executed by both Parties below. By signing below Parties agree to the terms and conditions contained herein. AGREED TO AND ACCEPTED: AGREED TO AND ACCEPTED: BUYER:BB QOZ,LLC, SELLER:Boynton Beach CRA DATE: , 1 DATE: BY: At BY: _. __... NAME: efF .ir NAME: Steven B.Grant TITLE:Manager TITLE:Mayor and Chair t� r 5 Buyer Seller, ____ - ,�f 3, 1 1 to tf R r r,� 9 n 1� 1 Iti W 7 S, CD X54 • EXHIBIT"A" 2 PURCHASE AND SALE AGREEMENT Is Purchase and Sale Agreement(hereinafter' )Is made and enteredInto as of the Effecdve Date (hereliviter defined),bV and between BOYNTON BEACH COMMUNrTY REDEVELOPMENT AGENCY, a public agencya r 24 Part Ill, of the Faida Ste s (hereinafter " ) and 500 Oman Properties, LLC (hereinafter `S "). In consideration of the mutual covenants and agreements herein set forth,the Parties hereto agree as fol L RUMM _ . SEUER asnees to sell and convey to PURCHASER a s to purchasend "wre from sEwn, on e terrm and condkJorts, heralrwfter set forth, the Properties Palm Beach County, ( ) pid rnore partkularIVdescribed as Lot 30 and the West 7 feet 8 Inchm of Lot 12, Less the South a feet (Ocean , Block 4 TOWN OF BOYNTON, according to the plat,thereof,as recorded in Plat Back1,Page 2% of the PuWlc records of Palm Beach County, And Lot It I=the Vftst 7 feet 8 Inches,Less the South a finet( n Avenue , N OF BOYNTON,according to the plat thereof,as recorded in Plat Book 3,Page 23,of the Public Records County,of PaIrn Beach Floriala. And Lot 12. Block S. ORIGINAL TOWN OF BOYNTON, according to the thereof,plat reawded In Plat Book 1, PagePublic Records of Palm.1108ch County,Flodda. 535, and 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paidrth Property shall be Three M111on SIK Hundred Thousand Dollars ( in cash, by wire transferof UnIted5tates Dollars at the omms PURCHASEWs InNals- SELLWs Initials: ` , Purchase and Sale Agree ment Pop 2 of 17 . DEPOILT .1 Earnest Mofty-Ceamit, Within five( Business Days after the execution of the Agreement by both perUM PURCHASER doll delver to Lawls, Longmanr, P ( w ) of deposit in the mount of Fifty ThousandDollars( (the qnNal Deposle). Providing this Agreement Is not otherwisein a terms herein, PURCHASHER shall deliver to Dam Agent an additional deposit In the amount of C)ne Hundred Fifty ThousandDollars ($ on or before OdWwr a; ML The Initial Deposit and additional deposk are hereafter . .2 nol n I be applied and disbursed as s: Providing this Agreement Is not terminatedr party pursuant to ft terms set forth herein, My Thousand shell be released to SUM within 10 days of tM expiration of the Feasibility (hereinafter defined).). remaining Depoidt shall be delivered to SELLER at and the PURCHASERall recelve a credit forthe Deposit apinst the PurchasePrice, If is Agreement Is terminated durfte Feasibility Period for any reason, the Depask she ll be Immediately refunded . If this Agreement Is terminatedt, pursuant to Sedion IX the Deposit shall be delivered to(or retained by,as applicable)t clefoulting Party, and the non-clefoutingParty shall hm such additional lofft, N any, as are provided In Section 12. 33 Agent. PURCHASER audwrike Emrow Ament to receive,deposit ain—eicrowand,subject ,dWxnse themu r authorbAon and In accordance with FbrWa low and the terms of this:Agreement. The parties agree that Escrow Agent Will not be Roble to any person for nidsciallvery of ascv&-ed Rams to PURCHASER and SELLEP, unlessI ryIsd s wilful breach of this Agreementorgrossneogence. If Escrow Alent Interpleads"subject r the escrow, Escrow Agent I pay the filing fees and cam from the deposit and will recover reasonable aftmWs to be paid from the esawwad funds which isre chaMed and a d as court costs in favor of the prevailing party. All dalms againstAgent will be arbitrated, so long as Ewow Agent consentsto arbRmte. t KMOVE The date of this Agreement(the OMectiveDatel shall be the date when the last one of the SELLEIR and PURCHASER has signed this Agreement. S. 90ING, The Purchase and sale transaction contemplated herein shall dose on or before December 17,2D21( e`CbsInSJ,unless extended bVwdtten agreernent,signed by parties,both extondinS the Closing. However,in no event whetwever shall the Closingr later than December 31,2ML C t Closln& SELLER shell n PURCHASER, by 4a wamw PURCHASEWs i Is: SE R's lnitkls: • `r Purchase ant Page 3 of 1 ' Special Warranty Deadmp with the requirements of the Tide Commitment(he rehafter defined).valid,good,marketable and I&urable Me In fee simple to the PropertV,free and dear of any and all Dons,encumbrances, n ,restrk:tIons and other conditions except only the fol ;(collectively, pts :(a)general real estate taxes and special assessments for the year of Closing and subsequent years not yet due and payable;(b) covenants, conditions, easements,dedications, rights-of-way and matters of record Included on the 7M@ Commitment or shown on the Survey(defined In Section 7) whkh PURCHASER falls to object, or which PU pursuant to Secthn 7.1 and Section 7.2 hereof. 7. FEASIBILM PERIOD. The PURCHASER and Its designees shall have from thit Elfective, Date until November a 2121 ( ), at PUROMSEWsex ns, to make hquIrles which PURCHASER m necessary to determine If the Property Is sultable for Its Intended use and to enter upon the Property, at any time and from time to time with SELLER and so Ions; as N Inveftstlons do not result in a business to perform any and all l testi, inspections, tion and investigations._ the Property, I t not limited to Phasa I and Phase 11 Investkations. During this Feasibilitymay alect, In PURCHASERs sale and abs*lute discretion, to terndriate this Agreement and receive back the Deposk provided that PURCHASER Provides SEUAR with written notice of PURCHASERs dedslon to terminatethe Agreement prior to 5:00prn Eastern time the last day of the FeaslbllkV PURCHASER fail to provide with written termination notice prior to 5.,ODpm Eastern time n the final day.of the Feasibility Period, PURCHASER wa d Its ablilty to terminate tha Agreement pursuant to this Paragraph, the Deposk shall become non-refundable to PURCHASER(except M the event of a material default by SELLER),and the A proceed to Closing upon ft terms and conditionsnt i` d hereTn. If PURCHASER elects to terminate this Agreement in accordance this Section, (I) leave the Property in substentiallyr the condition existing on the Move Date, subject to such disturbance as was reasonably necessarV or convwnie nt for the wsft and Irivestisation,of the Property;(II)to the extent practleable,shall repair and restore any damage catmed to ft Property by PUR 's tesft and tion; a (afl release to SEUEk at no cost all reports and other work product generateda result of the PURCHASERs testing and Investigation. PURCHASER hereby agrees to Indemnify and hold SEJJER harmless from and against all claims, losses, expenses;demands and liabilities, Including but not limited to,attorneys fees,for npay r servicesfor rendered to PURCHASER (Inducling, without limitation, any construction therefrom) or for damage to persons or pro (subject the limitatlion on practlimbility provided ) arising of PURCHASEWs Investigation of the Property. However, PURCHASERs Indemnification obliptions shall not excel its stetu" limits of sovereignImmunity provided within Section 7611.211,Florkis Statutes,and PURCHASER does not walve Its sovereign Immunity rights. SELLERS' obi Ions under this Sections ll survive the termInatJoin,expiry orClosing of this Agreement. 7.1 Mg B&view. lhln twenty( of the Effective Date, PURCHASER shall obtain, at the PURCHASM expense, from a Title Company chosen by PURCHASER oiswm4 PURCHASEWs In Is: . SELLER's Initials. .V. r , Purchase and Sale Agreement Page 4 of 17 therelneftir Company"), a Title Commitmentcovering and proposing to Insure PURCHASER in the amount of the Purchase Price subjectonly to the Permitted together with complete and lagible,copies of all Instruments Identifiedas conditions or exceptions in Schedule B of the Title CommftmnLand all assesswents, outstanding charges,utOlLy _ _ ns and other matters not constituting Permitted Exceptions and that n be cur*4 with the payment of money shag be paid by SOM prior to or at closing from 's proceeds. PURCHASER shah examine the Me Commitment and deliver written rKmm to SELLER no later than thirty(M days after the Effective Doe notifft SELLER of any objections PURCHASER has to the arAltion of t (hereinafter Or&Objectlansl. if PURCHASER falls to deliver the Tide Objecfts to SELLER within the aforesaid review period,thle shag be deemed accepted subject to the conditions set forth in the Tide Commitment. If PURCHASER timely delivers the Tide Objecthns,then SELLER shag have twenty` either cure and remove the Title Objection(s) or provide notice to PURCHASER that SEM will not cure such title objection(herelnefter mCure Pe&d"). In ft event that SELLER Is unable or unwilling remove,and or cause to be cured and removed,the Title Objettions within the Cure Period, then PURCHASER, in PURCHASEWs sole and absolute discration, shag have option of( accepting the e as R then Is and proceedingins with no reduction In the Purchses Prim and all such Title Objections that SELLER declines to cures II Permitted Exceptions,or(It)cance Ing and ternrilneting this Agreement,in which case,the Deposits I be returned to PURCHASER and the Parties shall have no further obligations or MbMtVhereunder, ompt r those expressly provided herein to survke termination of this AgreemerwL Should PURCHASER elect to accept the title as It then Is and proceed to Closing, SELLER11 still be required to pay off all _ , outstanding utility chargel, liens, and payable, of the Closing. in no event sWI SELLER he requiredlitigation to cure any tide or survey defect,enawchment,or encumbrance. Prior to the e e the Title Company to issue an updated Title Commitment ( a Ud Property. If any Tftb Update containso that r the effectivet mit nt a , causedwere or skrwed to occur by SBJLER and which appear in the Tide Commitment, and such items render unmarketable, S^ shall jet to such rtew or different conditions In writing prior to Closing. AN egift,and objections of the Parties with respect to objectJons arising the Title Update shat be the serne as objections to items appearingIn the Me Commitment,subjedw the provbbm of Oft Section. 7.2. vat. P 's expense, shall obtain a current su ( rvey') of the PropartV, Inclicating the number of acres comprising the Property to the nearest 1/1=h of an am.. If the Survey discloses encroachments on the Property or tint Improvements lotated thereon encroach on setback Ines, easements, lands of others or violate any resuictlons, covenants of this Agreement,or applicable governmental regulations, the sarne shall constitute a thle defect and shall be gmmed by the provisions 7.1 concerning Title Objections. However,In no event shall SELLER be required to commence litigation to aim any title or survey defect, msmmw PURCHASEWs In ls: { S s Initials! Purchase and Sale Agreement Page 5 of 17 encroachme nt,orencumbrance. 7.3 SELLER Delive ies. SELLER shall deliver to PURCHASER l n and Inamments within three (3) bushmss days of the Effoctive Date of this Agreement, except as specifically indicated: 7M Copies of leases for all commercial and residential tenants occupying_ the Property. 7.3.2 Copies of any reports or s (including engineeift environmentaL soll borings, and other physical I ), In SELLERs possession or control h respectto the physical condition or operationof the Property,Wafty. 7.3.3 Copies of all licenses, variances, waivers, permits (Including, not limited all surface wager management permits,wetland m use Permits n environmental resource permits), authorWons, and approvals required law or by any governmental or private authority havIngJurisdiction over the Property,or any portion thereof(the w6overnmentalApprovals"),which are material to the or operation of the Property and In Se' 's poswwAbk Ifany. MA At Cleft SELLER shall execute and deliver to PURCHASER and all documentss Instruments required by PURCHASER,In PU ER's sob and absolute discretion, :(q effectuate the trander to PURCHASERthose Governmental Approvals, or portions thersof which are applicable to the Property, that PURCHASER desires to have asskned to It, and/or (1) cause the Property to be withdrawn from any Governmental Approysts. SEWER will not be mquired to incur expenses to provide such documents and Instruments. No later than twenty(20) days prier to the Closing Date, SELLER shall remedy, restore, and rectify any and all violations Governmental Approvals (including, but not limited , any and all portions of the surface water management , mlt tion areas,or other items whichdo not comply with the Governmental Approvals or applicable ),If a SELLER wan-ants that there will not be, at the time of Ckxfn& any unrecorded Instruments affectift the title to the Property, in3 but not limited to anyve n s, easements, licenses or lesses. L CONDITIONS 10 C_ ...... NG. PURCHASER shall not be obligated to close on the purchase of the Property unless each the following nditia (collectively,the `Condit' ns to I ) are either full'Illed or walved by PURCHASER In writing: B.I. RM - n o s a ;nt s, All of the representations and warranties.of SELLER contained In this Agreementshall be true and correct as of Closing. 8.2. C qj%djV2a_2LpMg2dy, The physical condidon of the Property shall b PU ER's Initials: .' SELLEWs InItla :' f'" Purchase and Sols, nt Page 6 of 17 materially the sarne on the date of Closings on the Effective Date, reasonable war and tear . . At there shall be no litigation, dalm, action, or adfdnWMWe agency or other governmental proceeding, any kind whatsomr, whether In 4 or threatened, that would affect the Pro which has not been disclosed,prior to ClosIMn acceptad by PURCHASER. M. n and flggghfios. The Property shall be in cornplience with all applicable fiederaL swe and local laws, ordinance4 rules, regulations, codes,requirements,licanses,permits and autharizatlarys as of thadate of Closing. Property q be conveyed to the PURCHASER at time of Closing subject only to the existing lems referred to In Section 7.3.1 above. After the Elfactive Date of this AgreernentSellershal be permitted to mnewexbtln# s affectingthe Property provided that all such renewal leasm provide the landlord a ninety ( ) rw of termination, do not exceed a term of one year from the date of renewals and that any terms whatsoever that differ from the current leas other than ft new lease expiration date are subject to apprwal n by PURCHASER. . C e PURCHASER shall prepare, or cause to be prepared, the Closing Documentst forth In this Section, except for documents prepared by the PUR 's TItle Company. At CksirqL SELLER shall exwft and deliver, or cause to be executed and delmrad to PURCHASER the fodocuments and i (colledholy, Voting Documents'): 9.1. � A Spedal Warranty Deed (the "Deed ) conveying to PURCHASER valid,good, marketable and Insurable fee simple tide to the Property free and door of all lens, encumbrances and other conclitlions of tide otherthan the Parmhod Exceptions. .2 StWo Afffftlts, SELLER shall fumbh to PU RCK45ER and"Mier Company a customary is afficlavit attesting that,tat knowledge,no Individual or entItV has any clalm against Property under the applicable ction lien w; and that there are no parties In possession of the Property other then SELLER. SaM shall also fumish to PURCHASER a non-foreIgn affidavit with respect to the Property.In the event SELLER Is unable tddellverhs affidavits referenceda ,the sarneshall be dethiedanu d tMe oblection. .3. dosing mens setting forth the Purchase Price, the Deposit, all credIts6 adjustmentsprations between PURCHASER and SELLER,ali costs and expenses to be paid at CkwJqL and the net proceeds due SELLER,which PURCHASER shall executealso and deliver at .A. Ggrm;1LwSgWMV& Downtantation required to dear title to the ms PURCHASER'S In ` SELLEWs Intttals' • Purdmize and Sale Agreement Page 7 of 17 Property of all liens,encumbrancesand exceptions,9 any,otharthan Permitted . 9.& &dd&WMLPMLM2ii&L Sudi other documents as PURCHASER or the Me Company may reasonably request that SELLER meoute and delver,and any other documents required by this Agreement or reasonably necessaty In order to dose this transaction a effectuatatheterms; this Agreement. 10L EBQ Lmrations. Ameswrwrits, renti6 Interesk Insurance and other experims of the Property shad be prorated through the day before Closing. PURCHASER shell have the option of takingr exisdrM policiesInsurance, IF assumable,In which event premiums shall be prorated. Cash at Closingshad be increased or decreasedrequired to be e through the day prior to Closing. a nt and secuiltv deposits,if any,w11 be andked to PURCHASER. es shag be prorated based upon the current is tax with due allowance madir maximum allowaWe dbmnt. 10.2 Ad a m IMSS. PURCHASER and I comply with Section F respect to the payment of prorated ad valorem year of dcWng Into escrow with the Pakn Beach Counity Tax Colkaor's Office. in the event that following e Closing,the actual amount of assessed real property tax on the Property for the current yeark higherthana estimate used for purposes of the Cbsin&the parties shag nts paid occrecifted bwedans estknaute as IF paid M November.This II survive the Closing. .1 S & a Certified, confirmed and ratified spedal assessment ns Imposed by public bodies and payable as of Closingare to be paid by SELLER. Pending lions as of Closingshell be assumedPURCHASER. If the Improvement has been substantially completed as of the Effectiveany pendinglien shad be considered certified, confirmed or ratified and SELLER shall, at Closing, be chariied an amount equal to the lost estimate or assessmentforthe Improvement by the pubk .4. ged3L2W& PURCHASER shall be responsiblerdin ,all neral closing expenses (settlement r fees, overnight package, Or-), all title Wurance expenses, ry sumps on the deed, and any expenses associated PUR ER's finandng, Each will pay their respect"aftorneVs fees. Otherthen SELLER paying Its own attorneys f&K PURCHASERand SELLER agre# t transaction contemplated by this Agreement shell be"net"'to the SELLER with PURCHASERli all com assodated with the transaction otherthan SELLEresattorney's fees. 2CL5 In u__. PURCHASER shall fund the Purchase Prke subject to credits,the and pmrstions set forth herein. SELLER and PURCHASER(as PURCHASER( applicable)shall @xocute and deliver to Closing Agent the ClosingDocuments. The Closing Agent shall, at 61SWIMS PURCHASER'S In Is: SELLEWs inittals ' ' Purchase and Sale Agree ment Page 8 of 17 Closing: (1) disburse the sale p • O deliver the ClosTngn nd a Mmarked-upO'fte Commitment to PURCHASER,and promptly thereafter, record the Deed and er recordable Closing Documents in the appropriate public records. r ns, At ClosIng,SELLER shall o l% or cause to be obtained, satisfaction or releaseall mortgages, liens and Judgments appikable to and encumbering the Pro IL P - 'fl_ S _COVENANTS_..m ._.WARRAFMES OF SELLER. To in duce PURCHASER enter Into this Agreermnt, SELLER makes the following ,all of to the best of Its knowledge,In all material respects and except as othterwise provicled In Is Agreement(I)are now truk a (q)shall be true as of the date of the Closing unWss SELLER receives Information to the contrary, and ( ) shall survive e Closing. In that eveM PURCHASER all be provided Immediateas to the change to the folWrq rere n : 11.1 At all times m the Effective Date until priorto Closing, shall keep the Property(whether fo r ft date of C free and clear of any mechmWs or mate rislmen's he nsfor work or materials furnished to or contractedfor,byor on behaffof SELLER Prim to the 0asing,and SELLER sMIIi en nda hold PURCHASER harmless from and against all expense and liabliftyin connection therewlth(butuding, court costs and reasons ble attornoWs } 11.2 SELLER has no actual knowledge nor has SELLER received any notim of any ftigatkw4 claim,acthn or proceeding,aMalarthmftned,apinstSeMor the Propertyby any organization,person,Inl r rnme ntela ncy which would affect( anythreatenod Iftigatton,claim,action or proceeding,Ina materially adverse fashion)the useocwpncyorvalue oFthe PropertyoranV part thereof orwhfchwoulclotherwiserelatatothe Property. 11.3 SELLER has ll powera authority r Into this Agreement and to mums and parkwrn Its obl4ptions hereunder In this Agreement. SELLER does rot and will not conflict with or result In the breach of any n or provislom or constituto a defaultunde r,or result In the aeationor Imposition of any lion,charge,or n cobra upon" the Property or assetsoftheS sof anywnbnM rnongw,I , agreement, Indenture, Instrument or judgment which the SELLER Is a party of whkh Is or purports to upon the SELLER or which,effects S ®no action by any federal,state or munidpal or other govemmental agency department. m ion, board, bureau or Instrumentality is necesseryto make this Agra enlientaval Instrument upon the SELLER In accordance with terms.Its 31.4 SELLER represents t SELLERwIll not,between the Effectivethis ree ent and the Closing,withoutPu 's priorwritten consentwhich consentshall not be unreasonably withheld or delayed, except In the ordinary course of business, s any mwiw PU s I Is" SELLEWs 111 Purchase and Sale Agreement Page 9 of 17 encumbrances on the Property. For purposes of this provislan the torm "encumbrancee she I mean any liens,dalms,options, or odw r encumbrinces,enowchments6 rights-cf-way,lanes, easements, covenants, conditions or restrictiorm Except for renewing existing s In accordlence with Sectlon&Shereof,SEUJM represenisthetSEUERwill not betweenthe Effective D*teof thIsAgreement and the Owing,take any action to terminateIly,amend oralto r presentlyany exisftleases , ut e priorconsentof PURCHASERwhichconsent shag not be unreasonablVwlthheld ordelayed ILS SWER representsere we no parties otherthanS In possession of ft Property or any pofflon of Ow Property as a lessee otherthan dwse disclosed by section '.3.L 6 SEM shag use Its best efforts to maintain the Property In Its present condition so as to a that'It shall remain substantially in the some condition from the the Feasibilty Perlodto the Closinit,Date. 7 IMMMONALLYD . 1LB SEUER represents that It has no actual knowledge nor has It received any notice that tM ProissrLy has boon,is prawntly or k contemplatedad as e rar&rwcTr of Mate 1. As used heroK the term"Hazardous Mate rblu shall mean any substance, water or material which has been determined by any state, federal or local gmternment authority to be capable of podng a risk of injury to health, and properily, Including, not limited to,all of those materials,wastesandsubstances desknated as hazardous .o is by e U.S.Environmental , U.S. Labor,the U.S. ,{ of Transportation, and/or arq other state or local governmental agency now or hereafter autitorized to reguWm mattrials and substances in ft orAftriment (collectively %overnmentalAnthaftlesM. 9 SELLER represents to PURCHASER Property Is not subject to any deed re strittlons or doclaration of re ns running the Property use of the PropertV exceptthose constituting Permitted do deft da . =10 Between the Effective Date of this Agreement and the d , of closir4g, SEU.ER will not file any application r a ftnge of the present zoning classification of the Property. iLU &09 7he execution and delivery of this Agreement by SEUER and the consummatlon by SELLER of the transaction contemplated by this Agreement are whin SMWS capacity and all requisbe action has been taken to make this Agreement valid and blndInS on SEMER In attordence with its to s.7M person executing this Agreement on behalf of SEUER has been duly authorized to act on behalf of and to bind SELLER,and this Agreement representsa valid and binding obligation of SELLER. magna PU R's InitI96- SE 's Initials° Purchase and Sale Agreement Page 10 of 17 IL12 J&k. SELLER Is and will be on the Closing Daft,the.owner of valld,ll;ood, marketable and Insurable fee simple title to the Property, free and dear of all lens, encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances of necard which will be dWmrpd at Closing). ILL13 Additional Warrantles and Re;jrasentatlons of SEU.ER. As a materbi Inducement to PURCHASER enteft Into this Agreernen4 SELLEk to the best of SMIEWS Informationand belief,hereby represerbandwarrantsthe followl rog: M13.1 Them are no perWlng applicst Permits,petitions, contrac% approvals, or other proceedings with any governmental or quesi-govemmental authority, Including but not limited to, PURCHASER, munidpolitles, counW% districts, utilities, and/or federal or stem agencies,concoming the use or operation of, or title to the Propeft or any pardon thereof and SELM has riot Wanted or Is not obligated to gmnt any loterea in the Propertyto any of the foregoing entities. =112 IMre are rw facts belleved by SELLER to be material to the use, condition and operation of the Property In the mannerthat I hasbeen used oroperated,which it has not disclosed to PURCHASER hereirk Including but not limited to unnumded instruments or defects in the condition of the Prop"which will Impairthe use or operation of the Property in any manner. 11.13.9 The Property and the use and operation thereof are In compliance with all applicable countV and governmental laws,ordinances,regulations,licenses,permits and authorizations, tniL without Urnitation, applicable zoning and anWrorunental laws and regulations. 12 Ou"LL. 11L P-9BQl&jRrjj2jfwL in the event that this;transuction fallsto class due to a wrongful refusal to close or default on the part of PUROIASER,subjectto the provisionsof Paragraph 17.3 below, the Depask actually then being hold by the Escrow Agent shall be paid by Emm Agent to SELLER as agreed liquidated damages aAd,thereafter,neither PURCHASER nor SELLER shall have any turdwrigotion or liabilities under this Agreement exceptfortimme expressiV provided to survive the termination of this AgmemerM provicled, however, that PURCHASER shall also be responsible for the, removal of any lens awertod spinatthe Property by persons claiming b% through or under PURCHASER, but nototherwise. PURCHASER and SELLER acknowledge that 6 PURCHRSER clefoults, SELLER will wffer clansalies in an amount which cannot be ascertained with reasonable certainar on the Effective Date and that the amount of the Deposit beft hold by Estrow Agent most closely approximates the amount necessary to compensate SELLER. PURCHASER and SELLER agree, that this Is a bona Me liquWated da provIslon and not a pens W or forfeiture provision. omen" PURCHASEWS Initials: saws Inft 'V"77�ZL Purchase and Sale Agreement Page U of 17 2 Seller's Default., In the event that SELLER shag fail to fully and timely perform any of its 0 i tions or covenants hereunder or Wany of SELLERS represenbdens are untrue or Inacrursta, then, notwithstanding anything to the contraryin In this Agreemen% PURCHASER , at opt n: (1)declare SELLER In default under this Agreement by notice delivered to SELLER, In which event PURCHASER MAreemwt and demand that the Deposit be mtun*4Including all Interest thereon 9 any, In aoxwonce with S#cdon 3 and neither Party shad have any further rights hereunder, or (2) seek spuft performance ofthis Agreementwithout waiving any action fords s. 12.3. figft f g&116 Prbr to declarIng a default and a in remedles described herein, the non-defoulting Party shell Issue a notice of default to the defaulting Party describIrW the event or condition of default In suffident dotal to enable,, a reasonablen to determine the action necessary to cum the defaulL The defaulting Party shell have tan( )days from delivery of the notice during which the defoult.provided, hmmmr,that as to a falturere period shall only be t (3)business days from the delivery of notice. Both parties agme, that if an extension Is requested as a result of a default,such extension shall not be unreasonably withheld provided that In no event shall the Closing r 31, 2121.If the ddmlt has not been cured within the oforessid period,the non-debultIng,Pa rty may exercise the rernedles described above. 4,. S5!ugv1vaL The provisions of this n shall s the termination of this Agreement. NOTICES.13. � AN notices required In this me+nt must be In wrfflng and be considered d when received by cartiftedp, return receipt requested, or personal delivery to the following addresses-, If to Selbr Christian Macovisk Oyer-Macovisk Insurance SU East Ocean Avenue Boynton Beach,FL 33435 With a copy to. Harvey E.Oyerill Shutts& Bowen,LLP Sulte 1 o, Blvd, st Palm Beach,FL 33401 If to Purchaser: Thuy Shutt,Executive Director Boynton Beach Communitylop ntA e E.Chman Avenue,Alth Floor Boynton Beach,FL MOS assnaw PU 's IIt lsa SELLEWs InR b ;- r Purchase and Sale nt Page 12 of 1 WithKenneth Docip Lawls,Longman al r, P S.Rosemary Avenue Suite West Palm Beach,FL 33401 BINDINGOBUGA11ON/ASSIGNMENT. The term and coriftons of this Agreement am hereby rne& binding on, and shall Inure benefit of the succassors and permitted s of the Parties s . SELLER may not n ft Interest in this Agreement priorwMout the written consent of PUROASER,which all na be unreasoneW withheld, PURCHASER l have the right to assign thill Ag.mement to the City of Boynton Beach 'City") without e prior consent of SELLER and the PURCHASERshall be released f any further obligations and lkbllfts under this Agreement. The PURCHASER not a . n this Agreement to any other party without thep ` n , prioval of SELM, which shall not unreasonably wilthheld. If PURCHASER n dissolved as an antky while this Agreement andlor the attached Lem Agmernent are In effect,the provklonsof s :Q,FlorWa Statutes,(as It may be amended from time time),shimill apply. BROKER__....-FEM The SELLER and PURCHASER hereby state dM they have not dealt wIth a real estate broker In n n men and are not liable for a _ les commbsion.SELLER and PURCHASERre lly Indemnify, defiand and hold harmless each other from anclegaInstanV and all clailms, loms, damages, costs or expenses (including, without 111mlUtion, attorneys fees) of any kind arbIng out of or resuldft from any agreemerg,arrangement or understerwhii alleged to have been made with y broker or finder claiming through the Indernnifft party in connection with this Agreement. The proftiom of this Section shall survIve Closing or torminattlon of this Agreement. la L For purposes of this Agreement, polutent("Pollutant") shall mean any hazandcus or Uak substance, materiaL or waste of any kind or any contaminant, pollutant, petroleum, petroleum product or petroleum by-product, as defined or regulated environmental laws. Disposal ("Disposal") it mean the a storage, use, handflng, discharge,or disposal of such Pollutants.Environmental laws(*Environmental taws")shall mean any appillcable federal, state, or local laws, statutes, ordinances, s, regulations r goviernmental s lona. Li As a materialIn nt to PURCHASER Into this Agreement, SELLER hereby warrants and represents ft fol i applicable: (1) That SELLER and occupants of the Property obtalnecland are in full compliance with any and all permits rege rding the Dbposal of Pollutants on the Property or contigum property owned by SELIM,to the best of SE R'S knowledge. aim ens PURCMASERs I is° SMIWs In b: Purchase and Sale Agreement Page 13 of 17 (2) SELLER is not aware nor does it h notice of any post,present or future events,conditions, actIvItles or practices which may give rise any flablifty or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the Property. SELLER is t aware nor doesit have any notice of any post,press nt orfuture events, conditio-ris,activities or practices on ous pcopertythat is owned bVSELLER wh Ich may give rke to any liability or form a basis for any claim,demand,am or action relatingI of any Pollutantaffeding.theSELLER'S property. (8) There is no clvk crImInal or adnflnistrative action, suit, claim, demand,,Investilliation or notice of vMdbn pending or,to the best of that entitys knowle threatened agai t SELLER or the Property relating In anyway to the Disposal of Pollutants on the Property, portion thereof,oronany contiguous propertyawnedby 17. PUBLIC It R . PURCHASER is a public agency subject to Chapter 229, Florida Statutes. The SELLER Is hereby notified that the PURCHASER u y low, pursuant to Chapter U9,to maintain aupon request all records deemed publicu statute Including is Agreement and some or all of the documents necessary to consummate transaction t forth herein.To the extent that any litiption should be Instituted elthierd or as a third party,trip ntor prohibitPurchaser fromd or providling documentsInvolvingthis Agreementorthe transaction setfoirthIn the Agreement pursuanttoa public records requestsubmittedunderChWerM,SELLS asireas thatPU either: 1) defend the dakn up to and Including final judgment, or 2) Interplead the challenged documents Into the rt. In either event, SEM agrees PURCHASERs reasonable feesandcaM bothtrial ancl appellate. Ia 1. I This Agreement,and any amendment hereto,may be executed In any number of counterparts,each of which shall an original and all of which shat together, coratitute one and the same Instrument. n and paragraph aings herein contained are for the purposm of identification aniv and shall not be considered In construlng this Agreement. Reference to a Secdon shall he deemeda reference to the entire Section, unless ativerwisespecified. No modification or amendment is Agreement shall be of any force or effiact unless in writing executed by the Parties. This Agrearrent sets forth entire agreement between the Parties relating to the Property and all subject matter herein and supersedes all prior and contemporaneous negotiations, understandhp understandand e , written or oral, between the Parties. This Agreement shall be Interpreted in accordance with the laws of the State of Florida. The Parties hereby agree that Judeftlon of any k1gatlon brought arisIng out of this Agreement shall be In the Fifteenth Judicial Circuft,In and r Palm Beach County, Florida, or, should any cause of actk>n be limited to federal ju n only,In the United States District Courtforthe Southern District of Florida. don of TimV Any reference herein to time periods which are not measured In businessdays shall mean calendar days. Any time period providled for In this ams PURCHASERs In Is• s In Purchase and Sale Affeement Page 14 of 17 Agres me nt which ends on a _toSunday or legal holiday shall extend to 5.00 p.m.on the next fuH business day. Time Is of the 9ssence In the performaromof all obligations under this Agreement. & r, Neither the failure of a party to Insist upon a sWct performance of any of the terms, provisions, covenants6 agreementsand conditions hereof, nor the acceptance of any Item by a party with knowledge of a breach of this Agreement by the other party In the performance of their respective obligations r,shah be deemed a waiverof otherany rights or remedies that a party may have or a waiver of any subsequent brea or default In any of such e n ,agreements or canciftris. 7hIs paragraph shall survive termineWn of this Agreement andClosing. M. n of A&MgmsaL The Parties to this Agreement through counsel, have partkfpsted freely In the negotiation and preparation hereof. Neither this Agreement any amendment hereto shall be m against any of the Parties. As used In this AreemeM or any amendment hereto,the mascullneshall Include the ferninhe, the singular shall Iplural, and the plural shall Include the singular,as the context may require. Provisions of this Agreemente that they survive the Closing shall not merge,Into the Deed. S. . If any provision of this Agreement or the application thereof shot for anV reason and to any extent,be Invalld or unenforceable, r the remainclar of this Agreement nor theapplication of the provision to other persons,entities orcircumstances shall be affected thereby,but Instead shall be enforced extent permIttied by provisionslow.7he of this Section shall apply to any amendmentof this Agreement. M6 Handwritten_,.Provisions. n provisions Inserted In this Agreement and initialed R and SELLER shall control all printed provisions in confkt JL&7 MhmE of June Idli. an Inducement to PURCHASER agreeing to enter Into is Agreement, PURCHASER and hereby jury In any action or p u ht by either party against the other party pertainIngto any matter whatsoever wising out of or In any way connected with this Agreement. 140evs JEp W&=. Should It be necessary to bring an action to enforce any of the provislansof this Agreement,reasonable r 'fees and cam,lncWng those at theappellate level,shall be awardedto the prevallhil party unlessotherwiseprovidedIn this Agreement and subject to the limitation of sovereign Immunity as provided wMin Section Florlde Sfttutes. i ina -_t _arty hereby represents and warrants to the other that each person oxeckMng this Agreement on behalf of the PURCHASER and SELLER has on."ina PURCHASErNInitials-, Purchase and Sale Agree ment Pop 15 of 17 h right and lawful authority to execute this Agreerrient and to bind and obipte the party for whom or on whose behalf he or she Is signing with respect to all provisions containedIn this Agreement. This Agreement may not be recorded M the Public Records of Palm a ,Florida:without t approvW of both parties. connants, warranties, representations, Indemnities and undertakkV of SEU.ER and PURCHASER that giedlIcally surilve Clwft as set forth in this Agreement,shall survive the C6zing, 5 's AttorneW Foos and Costs.SELLER acknowledges and a es that SEILM shall be responsible for its own fees and al costs, if any,Incurred by SELLER in connection with the transaction contemplaiedAgree rnent. 1&13 JM2i u ILV.NothIrS In this Agreement shall be deemed tn affect the right% Privileges, and sovereign # s of the PURCHASER, in t forth In Section e Statutes. 11 REPRESENTATIONS COVEIVAN73 AND WARRANTIESF-'PURCHASER._ To Induce SELLER to enter Into this AffreeMent, PURCHASER ices the following representations,all of which, to the best of Its k e,In all maerial respects and except as othemde Provlcled in this Agreement(i)are now true,and(IQ shall be true as of the date of the Closing a (IM II survive the Closing. • ,., ._ftd and In GoW Standind;,. PURCHASER was valkily created under all applicablestate la s, Is In under all-applicable statia laws as of Mective Daft of this AgreameM and ti 91 be in good standingunder all appikable state laws as of the Closing . 2 The execution and delivery of this Agreement by PURCHASER and the tion by PURCHASER of the transaction mpla d by this Asreement are within PURCHASERS lewfu# capacky and all requitka action has been taken to make this Agmement Valid and binding on PURCHASER In accordance,with its tarms.The person executing this Agreement on behalf of PURCHASER n authorized to act on behalf of and to bind PURCHASER, d this Agreernentrepresentsa,valid and binding oblIgation obligationof PURCHASER, 211 a e -Is -ffigL ZMCIFICALLY SET FORTH HINCEIN, IT IS MWELTMD AND AGREEDT PURCHASER IS PURCHASING THE PROPEItTV •Y AIL FAULTS CON N. OTHER THAN THE =LW"S REMESENTA77ONS AND WARRANTIES SET FORTH RMUM, SELLER MAKES NO ONS O WARRANTIES AS TO THE CONSITION OF THE PROFERTY OR THE PROPEItry,S PURCHASER'SMESS FOR USEL PURCHASM SHOULD RELAY ON ITS OWN INVEMGATIONS AND INSPECTIONS DLqMG THE FEASIBILITY PMUOD. DIMM" PURCHASERs,Initials: SELLEWs Initlais: . Purduse and Sale Agreement Page 16 of 17 2L Qjqrjnsuranqe and Real Esta.ate IR kJAM PURCHASER and SELLER ockn4wled se and asme thet the existing painted wall sign on the east fagade of the WNS1East&4'an Avenue building has existed for over 60 years,Is one of the Icank business Images In the CJtV of Boynton Beach, possesses histork and cuturil v6a, and Is one of the lost remaining representations of the Ckys historic main street. As su4 PUR04ASER agrees to uie its best efforts to preserve the painted wall sign either In sku or to be relocated and utilized elsewhere In the vidnity pmwlded that ft cost of the preservation and relocation efforts do not exceed a nwimum of Twenty Thousand Dollars($2%WOAM. in the event 0M PURCHASER Is unable to preserve or relocate the wall sign as provided herein, PURCK45ER shall p notice,of sale to SMIER,who shall have (60 sbdy days within which to relocate the sign at its own expense and/or contribute oil mkIltional funding over$MOW to the CRA for the CRA to relccM the sign. Both parties adenowledge and agree t:hat the possiblity exists that the sign could be-damaged or destroyed during an attempted relocation. However, PURMASER shag use Its bestefforts, as provided herein, to preserve the wall sign and ensure that It remains wisible to the pubk date. IN WITNESS WHEREOF, s have executed this Agreement as of the Effective Amn" PURCHASERs Initials: SELLER's Initials: Purchase and Sale nt Page of 17 BOYNWN BEACH COMMUNITY P AGENCYPADEVELOPMENT Printed Name: Steven B.Gram Printed Name. '" air Date _ r� _�•.� WITNESS: WITNESS: Printed Name, r ESRC? GENi,. IJe�aw{w6 ~�8l Weld PJa►.�s..•_.��.��,.�ue• Printed Nome: f , Date: � t PURCHASE AND SALE AGREEMENT This Purchase and Sale Agreement (hereinafter "Agreement") is made and enteredinto s oft the Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY REDEVELOPMENT E CY, a public agency created ursua t to Chapter 163, Part III, oft e Florida Statutes (her inn er"PURCHASER,"') and 508 E BBB, LLC(hereinafter"SELLER"'). In consideration of the mutualcovenants and agreements herein set forth, the Parties hereto are as follows: 1. PURCHASE AND_,5 L / SELLER agrees t ll and convey to PURCHASER and PURCHASER agrees to purchase and acquire from SELLER, on the terms a conditions herei a er set forth, the Properties located at 508 E. Boynton Beach Boulevard, City of BoyntonBeach, in Palm Beach County, Florida (t "Properties")an ore particularly described as follows: Lots 6 and 7, Block 1, ORIGINAL TOWN OF BOYNTON, according to the Plat thereof as recorded in the Plat Book 1, Poge 23, Public Records of Palma County, Florida. 2. PURCHASE PRICE Y T. The Purchase Price to be paid for the Property shall be Nine Hundred Fifteen Thousand a /100 Dollars ($915,000.00), ays I in cash, y wire transfer of United States Dollars at the Closing. 3. DEPOSIT. . arnest Money Deposit. Within five (5) Business Days after the execution f the Purchase Agreement by both parties, PURCHASER shall liver to Lewis, Longman Walker, PA ("Escrow Agent") a deposit in the amount of One Hundred Thousand an00/100 Dollars ($100,000.00)the "'Deposit"). 3.2. ApplicationZD!sbursement of Deposit. The Deposit shall be applied n disbursed s follows: Providing this Agreement is not terminated by either party pursuant to the terms set fort herein, Fifty Thousand ollars ($50,000.00) shall be released to SELLER sixty ( ) days from the expiration of the Feasibility Period (hereinafter defined). The remaining sits ail be delivered to SELLER at Closing and the PURCHASER shall receive credit for the full Deposit ($100,000.00) against a Purchase Price. If this Agreement is terminated dsari h Feasibility Period (hereinafter eine ) for any reason, the Deposit shall be immediately reun e to the PURCHASER. If this Agreement is terminated e to a default, pursuant to Section 12, the PURCHASER' Initials: > SELL 's Initials: Purchase and Sale Agreement Page 2 of 15 Deposit shall be delivered to (or retained by, as applicable) the non-defaulting Party, and the non-defaulting Party shall have such additional rights, if any,as are provided in Section 12. 3.3. Escrow Aent. PURCHASER and SELLER authorize Escrow Agent to receive, deposit and hold funds in escrow and, subject to clearance, disburse them upon proper authorization and in accordance with Florida law and the terms of this Agreement. The parties agree that Escrow Agent.will not be liable to any person for misdelivery of escrowed items to PURCHASER and SELLER, unless the misdelivery is due to Escrow Agent's willful breach of this Agreement or gross negligence. If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable attorney's fees and costs to be paid from the escrowed funds which are charged and awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so long as Escrow Agent consents to arbitrate. 4. EFFECTIVE DATE. The date of this Agreement (the "Effective Date") shall be the date when the last one of the SELLER and PURCHASER has signed this Agreement. 5. CLOSING. The purchase and sale transaction contemplated herein shall close on or before November 11, 2021 (the "Closing"), unless extended by other provisions of this Agreement or by written agreement,signed by both parties,extending the Closing. 6. TITLE TO BE CONVEYED. At Closing, SELLER shall convey to PURCHASER, by Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined),valid,good, marketable and insurable title in fee simple to the Property,free and clear of any and all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions except only the following (collectively, the "Permitted Exceptions"): (a) general real estate taxes and special assessments for the year of Closing and subsequent years not yet due and payable; (b) covenants, conditions, easements, dedications, rights-of-way and matters of record included on the Title Commitment or shown on the Survey (defined in Section 7), to which PURCHASER fails to object, or which PURCHASER agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof. 7. FEASIBILITY PERIOD. The PURCHASER, and its designees shall have twenty (20) days from the Effective Date of this Agreement ("Feasibility Period"), at PURCHASER's expense, to make inquiries to determine if the Property is suitable for its intended use and to enter upon the Property, at any time and from time to time with reasonable notice to SELLER and so long as said investigations do not result in a business interruption, to perform any and all physical tests, inspections, valuation appraisals and investigations of the Property, including but not limited to Phase I and Phase II investigations, which PURCHASER may deem necessary. During this Feasibility Period, PURCHASER may elect, in PURCHASER's sole and absolute discretion, to terminate this contract and receive back all deposits hereunder. If PURCHASER elects to PURCHASER's Initials �� SELLER's Initials omoaasa-i Purchase and Sale Agreement Page 3 of 15 terminate this Agreement in accordance with this Section, PURCHASER shall: (1) leave the Property in substantially the condition existing on the Effective Date, subject to such disturbance as was reasonably necessary or convenient inthe testing and investigation ofthe Property; (ii) tote extent practicable, shall repair and restore any damage caused to the Property by ASE 's testing and investigation; and (Iii) release to SELLER, at no cost, all reports and they or generated as a result of the PURCHASER's testing and investigation. PURCHASER hereby agrees to indemnify and of SELLER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to PURCHASER (including, without limitation, any construction liens resulting therefrom) or for damage to persons or property (subject to the limitation on practicability provided above) arising out of PURCHASER's investigation ofthe Property. However, PURCHASE R's indemnification obligations shall not exceed its statutory limits as provided within Section 768.28, Florida Statutes, and PURCHASER does not waive its sovereign immunity rights. SELLER hereby agrees to indemnify and of PURCHASER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorneys fees, for nonpayment for services rendered to SELLER or for damage to persons or property (subject tote limitation on practicability provided above) arising out of PURCHASER's investigation of the Property, SELLERS' obligations under this Section shall survive the termination, expiration or Closing oft is Agreement. 7Aa Title Review. Within twenty (20) days of the Effective Date, PURCHASER shall obtain, at the PURCHASER's expense, from a Title Company chosen by PURCHASER (hereinafter "Title Company,"), a Title Commitment covering the Property and proposing to insure PURCHASER in the amount of the Purchase Price subject only to the Permitted Exceptions,together with complete and legible copies of all instruments identified as conditions or exceptions in Schedule B ofthe Title Commitment. Any and all assessments, outstanding utility charges, liens and other matters not constituting Permitted Exceptions shall be paid by Seller prior to or at closing from Seller's proceeds. PURCHASER shall examine the Title Commitment and deliver written notice to SELLER no later than thirty (30) days after the Effective Date notifying SELLER of any objections PURCHASER has tot condition of title (hereinafter "Title Objections"). if PURCHASER falls to deliver the Title Objections to SELLER within the aforesaid review period,titles all be deemed accepted subject to the conditions set forth in the Title Commitment. If PURCHASER timely delivers the Title Objections,then SELLER shall have thirty (30) days to diligently and in good faith undertake all necessary activities to cure and remove the Title Objections (hereinafter "Cure Period"). In the event that SELLER is unable to cure and remove, or cause to be cured and removed, the Title Objections within the Cure Period, to the satisfaction of PURCHASER, then PURCHASER, in PURCHASER's sole and absolute discretion, shall have the option of (i) extending the Cure Period and the Closing for one additional thirty (30) day period, or (11) accepting the title as it then is but using such portion of the Purchase Price as may be necessary to pay and satisfy any mortgages, outstanding utility charges, delinquent property taxes and/or code enforcement and "ef 7 PUJ RCHASE R's Initials: T---7 LL 's Initials: 0070"98-1 Purchase and Sale Agreement Page 4 of 15 contractors' liens or other recorded claims of lien upon the property, or (iii) canceling and terminating this Agreement, in which case, the Deposit shall be returned to PURCHASER and the Parties shall have no further obligations or liability hereunder, except for those expressly provided herein to survive termination of this Agreement. Prior to the Closing, PURCHASER shall have the right to cause the Title Company to issue an updated Title Commitment ("Title Update") covering the Property. If any Title Update contains any conditions which did not appear in the Title Commitment, and such items render title unmarketable, PURCHASER shall have the right to object to such new or different conditions in writing prior to Closing. All rights and objections of the Parties with respect to objections arising from the Title Update shall be the same as objections to items appearing in the Title Commitment,subject to the provisions of this Section. 7.2, Survey Review. PURCHASER, at PURCHASER's expense, shall obtain a current boundary survey (the "Survey") of the Property, indicating the number of acres comprising the Property to the nearest 1/100th of an acre. If the Survey discloses encroachments on the Property or that improvements located thereon encroach on setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement, or applicable governmental regulations, the same shall constitute a title defect and shall be governed by the provisions of Section 7.1 concerning title objections. 7.3. SELLER Deliveries. SELLER shall deliver to PURCHASER the following documents and instruments within ten (10)days of the Effective Date of this Agreement,except as specifically indicated: 7.3.1. Copies of any reports or studies (including engineering, environmental, soil borings, and other physical inspection reports), in SELLER's possession or control with respect to the physical condition or operation of the Property,if any. 7.3.2. Copies of all licenses, variances, waivers, permits (including but not limited to all surface water management permits, wetland resource permits, consumptive use permits and environmental resource permits), authorizations, and approvals required by law or by any governmental or private authority having jurisdiction over the Property, or any portion thereof(the "Governmental Approvals"), which are material to the use or operation of the Property, if any. 7.3.3. Prior to the Closing Date, SELLER shall execute and deliver to PURCHASER any and all documents and instruments required by PURCHASER, in PURCHASER's sole and absolute discretion, which: (i) effectuate the transfer to PURCHASER of those Governmental Approvals, or portions thereof which are applicable to the- Property, that PURCHASER desires to have assigned to it, and/or (ii) cause the Property to be withdrawn from PURCHASER's Initials SELLER's Initials:dm OD7O"98-1 -^"..... � Purchase and Sale Agreement Page 5 of 15 any Governmental Approvals. No later than thirty (30) days prior to the Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the Governmental Approvals (including, but not limited to, any and all portions of the surface water management system, mitigation areas or other items which do not comply with the Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at the time of Closing, any unrecorded instruments affecting the title to the Property, including, but not limited to any conveyances, easements, licenses or leases. 8. CONDITIONS TO CLOSING. PURCHASER shall not be obligated to close on the purchase of the Property unless each of the following conditions (collectively, the "Conditions to Closing") are either fulfilled or waived by PURCHASER in writing: 8.1. Representations and Warranties. All of the representations and warranties of SELLER contained in this Agreement shall be true and correct as of Closing. 8.2. Condition of Praperty. The physical condition of the Property shall be the same on the date of Closing as on the Effective Date, reasonable wear and tear excepted. 8.3. PendingProceedings. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever, pending or threatened,which has not been disclosed, prior to closing, and accepted by PURCHASER. 8.4. Compliance with Laws and Regulations. The Property shall be in compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of Closing. 8.5. Occupancy. The property shall be conveyed to the PURCHASER at time of closing unoccupied. 9. CLOSING DOCUMENTS. The PURCHASER shall prepare, or cause to be prepared, the Closing Documents set forth in this Section, except for documents prepared by the SELLER'S Title Company. At Closing, SELLER shall execute and deliver, or cause to be executed and delivered to PURCHASER the following documents and instruments: 9.1. Deed. A Warranty Deed (the "Deed") conveying to PURCHASER valid, good, marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances and other conditions of title other than the Permitted Exceptions. 9.2. Seller's Affidavits. SELLER shall furnish to PURCHASER an owner's affidavit attesting that, to the best of its knowledge, no individual or entity has any claim against the Property under the applicable construction lien law; and that there are no parties in PURCHASER's Initials noxwA� . SELLER's Initials UD7D4498-1 " Purchase and Sale Agreement Page 6 of 3.5 possession of the Property other than SELLER. SELLER shall also furnish to PURCHASER a non- foreign affidavit with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced above,the same shall be deemed an uncured title objection. 9.3. Closing Statement. A closing statement setting forth the Purchase Price, the Deposit, all credits, adjustments and prorations between PURCHASER and SELLER, all costs and expenses to be paid at Closing, and the net proceeds due SELLER, which PURCHASER shall also execute and deliver at Closing. 9.4. Corrective Documents. Documentation required to clear title to the Property of all liens,encumbrances and exceptions, if any,other than Permitted Exceptions. 9.5. Additional Documents. Such other documents as PURCHASER or the Title Company may reasonably request that SELLER execute and deliver, and any other documents required by this Agreement or reasonably necessary in order to close this transaction and effectuate the terms of this Agreement. 10. PRORATIONS CLOSING COSTS AND CLOSING PROCEDURES. 10.1. Prorations. Assessments, rents, interest, insurance and other expenses of the Property shall be prorated through the day before Closing. PURCHASER shall have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may be required by prorations to be made through the day prior to Closing. Advance rent and security deposits, if any,will be credited to PURCHASER. Taxes shall be prorated based upon the current year's tax with due allowance made for maximum allowable discount. 10.2. Ad Valorem Taxes. PURCHASER and SELLER shall comply with Section 196.295, Florida Statutes, with respect to the payment of prorated ad valorem taxes for the year of closing into escrow with the Palm Beach County Tax Collector's Office. In the event that, following the Closing, the actual amount of assessed real property tax on the Property for the current year is higher than any estimate of such tax used for purposes of the Closing, the parties shall re-prorate any amounts paid or credited based on such estimate as if paid in November. This shall survive the Closing. 10.3. Special Assessment Liens. Certified, confirmed and ratified special assessment liens imposed by public bodies as of Closing are to be paid by SELLER. Pending liens as of Closing shall be assumed by PURCHASER. If the improvement has been substantially completed as of the Effective Date, any pending lien shall be considered certified, confirmed or ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or assessment for the improvement by the public body. PURCHASER's Initials: - SELLER's Initials: . 00704496-1 Y Purchase and Sale Agreement Page 7 of 15 10.4. Closing Costs. PURCHASER shall be responsible for recording the deed and half of all general closing expenses (settlement fee, courier fees, overnight package, etc.). SELLER is responsible for documentary stamps on the deed and half of all general closing expenses and their own legal fees. All other costs of closing shall be borne by PURCHASER. 10.5. Closing Procedure. PURCHASER shall fund the Purchase Price subject to the credits, offsets and prorations set forth herein. SELLER and PURCHASER (as applicable)shall execute and deliver to Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i) disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marked-up"Title Commitment to PURCHASER, and promptly thereafter, record the Deed and other recordable Closing Documents in the appropriate public records. 10.6. Existing,Mort a es and Other Liens. At Closing, SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments applicable to and encumbering the Property. 11, REPRESENTATIONS COVENANTS AND WARRANTIES. To induce PURCHASER to enter into this Agreement, SELLER makes the following representations, all of which,to the best of its knowledge, in all material respects and except as otherwise provided in this Agreement (i) are now true, and (ii) shall be true as of the date of the Closing unless SELLER receives information to the contrary, and (iii) shall survive the Closing. In that event, PURCHASER shall be provided immediate notice as to the change to the following representations: 11.1. At all times from the Effective Date until prior to Closing,SELLER shall keep the Property (whether before or after the date of Closing) free and clear of any mechanic's or materialmen's liens for work or materials furnished to or contracted for, by or on behalf of SELLER prior to the Closing, and SELLER shall indemnify, defend and hold PURCHASER harmless from and against all expense and liability in connection therewith (including, without limitation, court costs and reasonable attorney's fees). 11.2. SELLER has no actual knowledge nor has SELLER received any notice of any litigation, claim, action or proceeding, actual or threatened, against SELLER or the Property by any organization, person, individual or governmental agency which would affect(as to any threatened litigation, claim, action or proceeding, in a materially adverse fashion)the use,occupancy or value of the Property or any part thereof or which would otherwise relate to the Property. 11.3. SELLER has full power and authority to enter into this Agreement and to assume and perform its obligations hereunder in this Agreement. SELLER does not and will not conflict with or result in the breach of any condition or provision, or constitute a default under, or result in the creation or imposition of any lien, charge, or encumbrance upon any of the Property PURCHASER's Initials: 4� „ SELLER's Initials: ' OD704498-1 - '° Purchase and Sale Agreement Page 8 of 15 or assets of the SELLER by reason of the terms of any contract, mortgage, lien, lease, agreement, indenture, instrument or judgment to which the SELLER is a party of which is or purports to be binding upon the SELLER or which affects the SELLER; no action by any federal, state or municipal or other governmental department, commission, board, bureau or instrumentality is necessary to make this Agreement a valid instrument binding upon the SELLER in accordance with its terms. 11.4. SELLER represents that SELLER will not, between the date of this Agreement and the Closing, without PURCHASER'S prior written consent, which consent shall not be unreasonably withheld or delayed, except in the ordinary course of business, create any encumbrances on the Property. For purposes of this provision the term "encumbrances" shall mean any liens, claims, options, or other encumbrances, encroachments, rights-of-way, leases, easements, covenants, conditions or restrictions. Additionally, SELLER represents that SELLER will not, between the date of this Agreement, and the Closing take any action to terminate or materially, amend or alter any existing leases presently in existence, without the prior consent of PURCHASER,which consent shall not be unreasonably withheld or delayed. 11.5. SELLER represents that there are no parties other than SELLER in possession of the Property or any portion of the Property as a lessee. 11.6. SELLER shall not list or offer the Property for sale or solicit or negotiate offers to purchase the Property while this Agreement is in effect. SELLER shall use its best efforts to maintain the Property in its present condition so as to ensure that it shall remain substantially in the same condition from the conclusion of the Feasibility Period to the Closing Date. 11.7. SELLER has no actual knowledge nor has SELLER received any notice of any litigation, claim, action or proceeding, actual or threatened, against SELLER or the Property by any organization, person, individual or governmental agency which would affect (as to any threatened litigation, claim, action or proceeding, in a materially adverse fashion) the use, occupancy or value of the Property or any part thereof or which would otherwise relate to the Property. 11.8. SELLER represents that it has no actual knowledge nor has it received any notice that the Property has been, is presently or is contemplated to be utilized as a reservoir of hazardous material. As used herein,the term "Hazardous Material" shall mean any substance, water or material which has been determined by any state, federal or local government authority to be capable of posing a risk of injury to health, safety and property, including, but not limited to, all of those materials,wastes and substances designated as hazardous or toxic by the U.S. Environmental Protection Agency, the U.S. Department of Labor, the U.S. Department of Transportation, and/or any other state or local governmental agency now or hereafter authorized to regulate materials and substances in the environment (collectively "Governmental Authority(ies)"). PURCHASER's Initials SELLER's Initials: . N, DD7D4498-1 a„, Purchase and Sale Agreement Page 9of15 11.9. SELLER represents to PURCHASER that the Property is not subject to any deed restrictions or declaration of restrictions running with the Property which would affect the use of the Property except those constituting Permitted Exceptions as defined above. 11.10. Between the date of this Agreement and the date of closing, SELLER will not file any application for a change of the present zoning classification of the Property. 11.11. Authority. The execution and delivery of this Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER in accordance with its terms. The person executing this Agreement on behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this Agreement represents a valid and binding obligation of SELLER. 11.12. Title. SELLER is and will be on the Closing Date, the owner of valid, good, marketable and insurable fee simple title to the Property, free and clear of all liens, encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances of record which will be discharged at Closing). 11.13. Additional Warranties and Re resentations of SELLER. As a material inducement to PURCHASER entering into this Agreement, SELLER, to the best of SELLER'S information and belief,hereby represents and warrants the following: 11.13.1. There are no pending applications, permits, petitions, contracts, approvals, or other proceedings with any governmental or quasi-governmental authority, including but not limited to, PURCHASER, municipalities, counties, districts, utilities, and/or federal or state agencies, concerning the use or operation of, or title to the Property or any portion thereof and SELLER has not granted or is not obligated to grant any interest in the Property to any of the foregoing entities. 11.13.2. There are no facts believed by SELLER to be material to the use, condition and operation of the Property in the manner that it has been used or operated, which it has not disclosed to PURCHASER herein, including but not limited to unrecorded instruments or defects in the condition of the Property which will impair the use or operation of the Property in any manner. 11.13.3. To the best of SELLER'S knowledge,the Property and the use and operation thereof are in compliance with all applicable county and governmental laws, ordinances, regulations, licenses, permits and authorizations, including, without limitation, applicable zoning and environmental laws and regulations. PURCHASER's Initials: 69704498-1 SELLER's Initials: Purchase and Sale Agreement Page 10 of 15 12. DEFAULT. 12.1. PURCHASER's Default. In the event that this transaction fails to close due to a wrongful refusal to close or default on the part of PURCHASER, subject to the provisions of Paragraph 12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow Agent to SELLER as agreed liquidated damages and, thereafter, neither PURCHASER nor SELLER shall have any further obligation or liabilities under this Agreement, except for those expressly provided to survive the termination of this Agreement; provided, however, that PURCHASER shall also be responsible for the removal of any liens asserted against the Property by persons claiming by, through or under PURCHASER, but not otherwise. PURCHASER and SELLER acknowledge that if PURCHASER defaults, SELLER will suffer damages in an amount which cannot be ascertained with reasonable certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent most closely approximates the amount necessary to compensate SELLER. PURCHASER and SELLER agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture provision. 12.2. Seller's Default. In the event that SELLER shall fail to fully and timely perform any of its obligations or covenants hereunder or if any of SELLER'S representations are untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement, PURCHASER may, at its option: (1) declare SELLER in default under this Agreement by notice delivered to SELLER, in which event PURCHASER may terminate this Agreement and demand that the Deposit be returned, including all interest thereon if any, in accordance with Section 3 and neither Party shall have any further rights hereunder, or (2) seek specific performance of this Agreement,without waiving any action for damages. 12.3. Notice of Default. Prior to declaring a default and exercising the remedies described herein, the non-defaulting Party shall issue a notice of default to the defaulting Party describing the event or condition of default in sufficient detail to enable a reasonable person to determine the action necessary to cure the default. The defaulting Party shall have fifteen (15) days from delivery of the notice during which to cure the default, provided, however, that as to a failure to close,the cure period shall only be three (3) business days from the delivery of notice. Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld. If the default has not been cured within the aforesaid period,the non-defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions of this section shall survive the termination of this Agreement. 13. NOTICES. All notices required in this Agreement must be in writing and shall be considered delivered when received by certified mail, return receipt requested, or personal delivery to the following addresses: PURCHASER's Initials SELLER's Initials:' 0070449&1 Purchase and Sale Agreement Page 11 of 15 If to Seller: Bradley Miller 508 E , LC 508 E. Boynton each Boulevard Boynton Beach, FL 33435 With a copy to: Alan J. Ci lin, Esq. CIKLIN LUBITZ Northbridge Tower 1, 20th Floor 515 N. Fla ler Drive West Palm Beach, FL 33401 If to Purchaser: Michael Simon, Executive Director Boynton Beach Community Redevelopment Agency 100 E.Ocean Avenue, 4th Floor Boynton each, FL 33435 With a copy to: Kenneth Dodge Lewis, Longman &Walker, PA 515 North Fla ler Drive Suite 1500 West Palm each, FL 33401 14. BINDING OBLIQ ATIOWA55IGN M ENT. The terms and conditions of this Agreement are hereby made binding on, and shall inure to the benefit of the successors and permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement without the prior written consent of PURCHASER, is shall not be unreasonably withheld. PURCHASER shall have the right to assign this Agreement to the City of Boynton Beach (the "City") without the prior consent of SELLER and the PURCHASER shall be released from any further obligations and liabilities under this Agreement. The PURCHASER may not assign this Agreement to any other party without the prior written approval of SELLER, which shall not unreasonably withheld. If PURCHASER has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are in effect,the provisions of section 163.357(1), Florida Statutes, (as it may be amended from time to time), shall apply. 15. BROKER FEES, The SELLER and PURCHASER hereby state that they have not dealt with a real estate broker in connection with the transaction contemplated by this Agreement and are not liable for a sales commission. SELLER shall indemnify, defend and hold harmless the PURCHASER from and against any and all claims, losses, damages, costs or expenses (including, without limitation, attorney's fees) of any kind or character arising out of or resulting from any agreement, arrangement or understanding alleged to have been made by SELLER on its behalf PURCHASER's Initials;e� SELLER's Initials: 77�, e, M704498-1 Purchase and Sale Agreement Page 12 of 15 with any broker or finder in connection with this Agreement. The provisions of this Section shall survive Closing or termination of this Agreement. 16. ENVIRONMENTAL CONDITIONS. 16.1. For purposes of this Agreement, pollutant ("Pollutant") shall mean any hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant, petroleum, petroleum product or petroleum by-product as defined or regulated by environmental laws. Disposal ("Disposal") shall mean the release, storage, use, handling, discharge,or disposal of such Pollutants. Environmental laws ("Environmental Laws") shall mean any applicable federal, state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions. 16.1.1 As a material inducement to PURCHASER entering into this Agreement, SELLER hereby warrants and represents the following,as applicable: (1) That SELLER and occupants of the Property have obtained and are in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or contiguous property owned by SELLER,to the best of SELLER'S knowledge. (2) SELLER is not aware nor does it have any notice of any past, present or future events,-conditions, activities or practices which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the Property. SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices on contiguous property that is owned by SELLER which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant affecting the SELLER'S property. (3) There is no civil, criminal or administrative action, suit, claim, demand, investigation or notice of violation pending or, to the best of that entity's knowledge, threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the Property, any portion thereof,or on any contiguous property owned by SELLER. 17. PUBLIC RECORDS. PURCHASER is a public agency subject to Chapter 119, Florida Statutes. The SELLER is hereby notified that the PURCHASER is required by law, pursuant to Chapter 119, to maintain and disclose upon request all records deemed public under the statute including this Agreement and some or all of the documents necessary to consummate the transaction set forth herein. To the extent that any litigation should be instituted by SELLER, either directly or as a third party, to prevent or prohibit PURCHASER from disclosing or providing documents involving this Agreement or the transaction set forth in the Agreement pursuant to a public records request submitted under Chapter 119, SELLER agrees that PURCHASER may either: 1) defend the claim up to and including final judgment, or 2) interplead the challenged PURCHASER's Initials SELLER's Initials., Purchase and Sale Agreement Page 13 of 15 documents into the court. In either event, SELLER agrees to pay PURCHASER's reasonable attorneys'fees and costs, both trial and appellate. 18. MISCELLANEOUS._ 18.1. General. This Agreement, and any amendment hereto, may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall, together, constitute one and the same instrument. The section and paragraph headings herein contained are for the purposes of identification only and shall not be considered in construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire Section, unless otherwise specified. No modification or amendment of this Agreement shall be of any force or effect unless in writing executed by the Parties. This Agreement sets forth the entire agreement between the Parties relating to the Property and all subject matter herein and supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the Parties. This Agreement shall be interpreted in accordance with the laws of the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising out of this Agreement shall be in the Fifteenth Judicial Circuit, in and for Palm Beach County, Florida, or, should any cause of action be limited to federal jurisdiction only, in the United States District Court for the Southern District of Florida. 18.2. Computation of Time. Any reference herein to time periods which are not measured in business days and which are less than six (6) days, shall exclude Saturdays, Sundays and legal holidays in the computation thereof. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. on the next full business day. Time is of the essence in the performance of all obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the calculation thereof. 18.3. Waiver. Neither the failure of a party to insist upon a strict performance of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance of any item by a party with knowledge of a breach of this Agreement by the other party in the performance of their respective obligations hereunder, shall be deemed a waiver of any rights or remedies that a party may have or a waiver of any subsequent breach or default in any of such terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination of this Agreement and the Closing. 18.4. Construction of Agreement. The Parties to this Agreement, through counsel, have participated freely in the negotiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the Parties. As used in this Agreement, or any amendment hereto, the masculine shall include the feminine, the singular shall include the plural, and the plural shall include the singular, as the context may require. Provisions of this Agreement that expressly provide that they survive the PURCHASER's Initials ��_.., SELLER's Initials''",. " 0070449B-1 LO Purchase and Sale Agreement Page 14 of 15 Closing shall not merge into the heed. 18.5. Severability. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law.The provisions of this Section shall apply to any amendment of this Agreement. 18.6. Handwritten Provisions. Handwritten provisions inserted in this Agreement and initialed by PURCHASER and SELLER shall control all printed provisions in conflict therewith. 18.7. Waiver of Jury Trial. As an inducement to PURCHASER agreeing to enter into this Agreement, PURCHASER and SELLER hereby waive trial by jury in any action or proceeding brought by either party against the other party pertaining to any matter whatsoever arising out of or in any way connected with this Agreement. 18.8. Attorneys_Fees and Costs. Should it be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable attorneys' fees and costs, including those at the appellate level,shall be awarded to the prevailing party. 18.9. Binding; Authority. Each party hereby represents and warrants to the other that each person executing this Agreement on behalf of the PURCHASER and SELLER has full right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 18.10. Recording. This Agreement may not be recorded in the Public Records of Palm Beach County, Florida without the prior approval of both parties. 18.11. Survival. The covenants, warranties, representations, indemnities and undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and recording of the SELLER'S Property Deed and PURCHASER's possession of the Property. 18.12. SELLER Attorneys' Feesand Costs. SELLER acknowledges and agrees that SELLER shall be responsible for its own attorneys'fees and all costs, if any, incurred by SELLER in connection with the transaction contemplated by this Agreement. PURCHASER's Initialsi, SELLER's Initials: 00704498-1 ,µ f Purchase and Sale Agreement Page 15 of 15 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective date. PURCHASER: SELLER: BOYNTON BEACH COMMUNITY REDEVELOP ENT EN Y w.k Printed Name: Steven B. Grant Printed Name: $` e A ` I Title: Chair Title: Date: , z�� Date: �. p WIIESS: WITNESS: .1 " / — .. ..,n4,j t Printed Name €',,, ,:,,' `� � r°` i r Printed Name: f Approved As To Form: Lewis, Longman Walker, P.A. , ` ! Printed Nage: I � i - Date: , , r PURCHASER's Initials:(-P, SELLER's Initials: EXHIBIT"B" 1 AFFILIATED n,. -DEVELOPMENT October 5,2021 Boynton Beach Community Redevelopment Agency ATTN: Ms.Thuy Shutt,Director 100 East Ocean Avenue,4*h Floor Boynton Beach,FL 33435 COPY TO: City of Boynton Beach ATTN: Ms.Lori LaVerriere 100 East Ocean Avenue,4th Floor Boynton Beach,FL 33435 RE: Letter Of Intent to purchase the Project Parking Garage and enter into a Purchase and Sale Agreement,as further defined below Ms.Shutt&Ms.LaVerriere: We are pleased to present the following Letter of Intent("LOI") to outline certain basic terms under which Seller agrees to construct and sell the Project Parking Garage to Buyer,and Buyer proposes to purchase the Project Parking Garage from Seller(hereinafter defined). The Tex ms and Conditions are as follows: 1. PROPERTY: Two parcels that will be combined and parceled separate from the Project. a. Parcel 2: i. Physical Address: NE 4*h St.,Boynton Beach,FL ii. Parcel#: 08434528030010080 b. Parcel 3: i. Physical Address: NE 1st Ave.,Boynton Beach,FL ii. Parcel#: 08434528030010100 2. PARKING GARAGE: A stand-alone parking garage structure containing approximately 573 parking spaces located on the Property and containing approximately ISO parking spaces dedicated to the public,approximately 326 spaces for apartment tenants,and approximately 247 parking spaces for commercial tenants. Parking Garage shall be consistent with the attached parking plans shown in Exhibit A,which may be modified in order to obtain Approvals. 3. P O ECT: The Tenant is constructing a mixed-use project containing a mixed-income workforce housing rental apartment building,restaurant and retail space,office space,and the Parking Garage,per the preliminary site plan shown in Exhibit B,which shall be adjusted as may be necessary in order to finalize land use approvals. 4. BASE BUILDING IMPROVEMENTS: Seller shall construct the Parking Garage pursuant to Approvals. Parking Garage shall be a concrete structure with sloped parking on the ramps to connect each floor of parking. The bottom floors will be used for public parking and parking for the Project's commercial tenants,while the upper floors will be used exclusively by the Project's apartment tenants. 5. ER: BB QOZ,LLC,or another entity managed by Affiliated Development principals,Jeff Burns and Nick Rojo,as approved by Seller. 1 Buyer- Seller ._ / AFFILIATED /A,=\-\-- — DEVELOPMENT 6. BUYER: Boynton Beach CRA and/or City of Boynton Beach. 7. PURCHASE PRICE: $10,314,000 subject to customary adjustments,fee simple interest free from all liens,encumbrances and judgments. 8. PURCHASE&SALE AGREEMENT: Within 90 days following the execution of this LOI,Buyer and Seller will execute a Purchase&Sale Agreement consistent with the terms and conditions contained herein. 9. CLOSING MATERIALS: Upon completion of the Base Building Improvements,as evidenced by a temporary certificate of occupancy,Seller shall deliver to Buyer all existing material documents in its possession relating to the Property,including,without limitation:(i)any and all reports regarding the presence of Hazardous Materials on or about the Property including environmental reports;(ii)Base Building Improvements plans and specifications; (iii)as-built survey;(iv)existing insurance policies; (v)information on liens and open permits,(vi)any and all contracts that may exist between Seller and a third party entity performing work on the Parking Garage for which Buyer shall assume.Seller shall grant Buyer the right to enter the Property to inspect the Base Building Improvements. 10. SURVEY: Seller shall provide Buyer with an as-built survey. 11. APPROVALS: Sale shall be subject to all required Approvals from the applicable authorities necessary to construct the Parking Garage on the Property,including but not limited to Land Use Approvals and a Master Building Permit. 12. ESCRflW DEPOSITS: Within 5 business days following the execution of the Purchase and Sale Agreement,Buyer shall deposit in escrow the sum of $100,000 to Kapp Morrison LLP (the"Escrow Agent"),which shall be credited towards the Purchase Price at Closing. Escrow Deposit shall be nonrefundable at the time the Seller obtains all necessary Approvals on the Parking Garage. 13. TITLE INSURANCE: Buyer shall procure a title report or commitment("Title Report")for the Property from Fidelity National Title Insurance Company(the"Title Company")together with copies of all underlying documents of record referenced therein. Seller shall provide prior owners policy if in possession of same. The Seller shall parcel the Property in order to be owned separate from ownership in the Project. 14. CLOSING: Closing of the Property shall occur within 15 days following the date Seller notified Buyer in writing(along with supporting documentation)that a temporary certificate of occupancy has been issued for the Parking Garage, 15. COSTS: Buyer shall pay for the cost of the owner's policy premium,search and exam fees, and deed recording fees. Seller shall pay the costs of any and all transfer or documentary taxes and/or fees and escrow fees. Parties acknowledge there are no brokerage or sales commissions due relating to the sale of the Property. 16. GARAGE LEASE: Parties acknowledge that the sale is contingent upon the Parties entering into a separate parking lease agreement,which will be executed simultaneously with the Purchase and Sale Agreement. The Buyer and Seller should also agree to separate terms and conditions by which Buyer agrees to rent parking spaces for Seller's restaurant,retail and office tenants. Buyer,,,, Seller AFFILIATED_ //At,=\r-\--_ DEmVEL0PMENT 17. FORCE MA}EURE: Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent and for so long as such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, including but not limited to fire,floods,embargoes,war,acts of war(whether war be declared or not),acts of terrorism,pandemics,insurrections,riots,civil commotions,strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority,or the other Party. Events of Force Majeure shall extend the period for the performance of the obligations for a period equal to the period(s)of any such delay(s). 18. AUTHORITY: Both Parties represent that the execution and delivery of the LOI and Agreement and the consummation of the transactions contemplated hereby do not and will not(i)violate or conflict with the organizational documents of Buyer or Seller; (ii)breach the provisions of,or constitute a default under,any contract,agreement,instrument or obligation to which Buyer or Seller is a party or by which Buyer or Seller bound;and(iii) require the consent or approval of any other third party. The Parties executing the Agreement are authorized by their respective organizational documents to enter into the Agreement and bind each Party to the terms hereof. It is understood by both Parties that this LOI is non-binding and is simply an indication of the current terms and conditions under which the Buyer is willing to go forward with purchasing said Property. Notwithstanding the foregoing,at the time the Buyer is selected by Seller pursuant to the RFP/RFQ the Parties may negotiate and revise this LOI,and any exhibits,as necessary in order to reach agreed upon Terms. Parties agree to work in good faith to finalize and execute the Purchase and Sale Agreement under the same terms and conditions contained within the final executed LOI. This LOI may be executed in one or more counterparts,each of which shall be deemed an original,but all of which will be deemed one instrument. Parties may execute this LOI and transmit same by facsimile or email,and in such event,agree that acceptance by facsimile or by email shall be treated in the same fashion as an original signature. The Effective Date of this LOI shall be on the later of the dates as executed by both Parties below. (SIGNATURE PAGE TO FOLLOW) Buyer,?f f r Seller AFFILIATED DEVELOPMENT By signing below Parties agree to the terms and conditions contained herein. AGREED TO AND ACCEPTED: AGREED TO AND ACCEPTED: BUYER:BB QOZ,LLC, SELLER:Boynton Beach CRA DATE ,__, 1 _.. DATE: BY: a. BY: NAME:J � NAME: Steven B.Grant �4j TITLE:Manager TITLE:Mayor and Chair Q Buyer_.4,. . Seller_...... EXHIBIT"A" PARKING PLAINS 1 m m d � O o ..a m m t p N -- - --------- -- - co n b gg��jj 1 � _ 5 L^ { 111 n e I z , 0vm bl .nL+..ara e��.wo aac s.,�m.,ro.oE ff...or Tis.w.moar:„iomzvoe.,c vu+z x,o srmnvmxz won.wm mz nmo,a.�o woe axm eornw,�u.. ME.�.az�.z wz..oowo,wz..oe.�,i.m o.„c iwi wo,owm um cwmm wz riawn swizz �} n 9 f' MSA ARCHTECTs INC. AAO- L�OMSA THE PIERCE E AFFILIATED DVLOPME ARCHITECTSNTN m v%, " LOCATED AT. e BOYNTON BEACH, FLORIDA ` ARCHITECTURE&PLANNING y '��) , mE.��-� aoe��o..W��o��m�s�P�a Eo��„moo=m.,mm.��✓�^E��e�r,�E,�e«..��"a�wo.�A�,�,�E wg��.TME,�wR�.. I � EXHIBIT"B" PRELIMINARY SITE PLANS 2 I OCEAN BOULEVARD Al M t „yf3tt3 ' , r m ' fill Tt ) \ i ,, t i* fn @ — + r t ' t a tt �{3i 1�r1'1if S m u t1S1l0 +3� t Or } - r, f }: NE 1ST AVENUE fi iT 15 rn t " 3rOw ^ I. _ �z _ � 9, 7 C X D E y) m L r v Al mid 3 f z f G 3 + f Izx M,WN& w v u U � o ;tt Sn, 4 r 1444 FY 1 i ' 4+ 4 I _ ql�w S bS t 5 a13kti3s tS1\tSs:< ?ssse p ' �c� 6� 39t4?9ii`I I zs% a r � > PR A S:j._. p ,kC�, - nlif MSA , y g MSA Awcwnec s,INC. P THE PIERCE AFFILIATED"DEVELOPMENT UPMENT l9ARCHITECTS11 BOWNTON BEACH, FLORIDA � I AR HITECTURE&PLANNING EXHIBIT"C" 2 AFFILIATED . D E V E L 0 P M E N T October 5,2021 Boynton Beach Community Redevelopment Agency ATTN. Ms.Thuy Shutt,Director 100 East Ocean Avenue,4h Floor Boynton Beach,FL 33435 COPY TO: City of Boynton Beach ATTN: Ms.Lori LaVerriere 100 East Ocean Avenue,4u'Floor Boynton Beach,FL 33435 RE: Letter Of Intent to enter into a Lease Agreement,as further defined below Ms.Shutt&Ms.LaVerriere: We are pleased to present the following Letter of Intent("LOI")to outline certain basic terms under which Affiliated Development proposes to lease parking spaces in a Parking Garage(hereinafter defined). The Terms and Conditions areas follows: 1. PARKING GARAGE. A stand-alone parking garage structure containing approximately 573 parking spaces,as constructed by Tenant(or Tenant's affiliate)as part of the Project,as further defined herein,and located at the intersection of NE 1�l Avenue(to the south)and NE 4*h Street(to the west)in Boynton Beach,Florida. The Parking Garage will contain approximately 150 parking spaces dedicated to the public. Z. O ECT: The Tenant is constructing a mixed-use project containing a mixed-income workforce housing rental apartment building,restaurant and retail space,office space,and the Parking Garage,per the preliminary site plan shown in ExibitA,which shall be adjusted as may be necessary in order to finalize land use approvals. 3. LANDLO Boynton Beach CRA and/or the City of Boynton Beach. 4. TENANT: BB QOZ,LLC,or another entity managed by Affiliated Development principals,Jeff Burns and Nick Rojo. 5. AGREEMENT: Within 90 days following the execution of this LOI,Landlord and Tenant will execute a lease agreement(the"Agreement")consistent with the terms and conditions contained herein. 6. SUBTENANTS: Tenant shall be permitted to enter into sublease agreements with residents of the Project's apartment building. Subtenants shall have the ability to access the Demised Premises provided Subtenants adhere to the Rules and Regulations contained in the Agreement. 7. BASE BUILDING IMPROVEMENTS: Concrete structure with sloped parking on the ramps to connect each floor of parking. The bottom floors will be used for public parking and parking for the Project's commercial tenants,while the upper floors will be used exclusively for Tenant's Permitted Use and separated by a metal lift/swing gate in order to provide Subtenants secure access to the Demised Premises. 1 Buyer;___ Seller, / AFFILIATED A=\--\-, DEVELOPMENT 8. DEMISED PREMISES:Landlord hereby agrees to lease to Tenant,and Tenant hereby agrees to lease from Landlord approximately 326 parking spaces on the top floors of the Parking Garage,as more further defined in Exhibit B. 9. PERMITTED USE:Tenant,and it's Subtenants,may use the Demised Premises and Parking Garage for purposes of providing permanent resident and temporary guest parking for Subtenants'passenger vehicles and consistent with the Rules and Regulations. 10. TERM: 50 years with one 50-year option. 11. BASE RENT: $191500 per month. 12. BASE RENT INCREASES: 1.5%per year. 13. ADDITIONAL RENT: Tenant's pro rata share of garage operating expenses including(but not limited to):security,elevator systems,cleaning,utilities,maintenance and repairs,pest control,fire safety systems,insurance,supplies,landscaping,and signage. Notwithstanding the foregoing,Additional Rent shall be in an amount not to exceed 7%of Base Rent. Additional Rent shall exclude any costs and expense solely and directly unrelated to Tenant Use. 14. POSSESSION DATE: Tenant,and Subtenants,shall have the ability to access the Parking Garage and Demised Premises for their Permitted Use anytime after a temporary certificate of occupancy is issued for the Parking Garage, 15. RENT COMMENCEMENT DATE: The date on which the Tenant receives a certificate of occupancy allowing all residential units and ancillary common areas within the Project's residential apartment building to be occupied by Subtenants,or earlier at the election of the Tenant,provided a Possession Date has been achieved. 16. RULES AND REGULATIONS: Tenant,and Subtenants,shall agree to use the Parking Garage and Demised Premises in a safe and lawful manner,which shall be in accordance with rules and regulations that mutually agreeable to the Parties in the Agreement. 17. INSURANCE:, Tenant shall,at its cost,procure and maintain and keep in force at all times General Liability Insurance with limits agreed to amongst the Parties. 18. EQRCE MA EURE: Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent and for so long as such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, including but not limited to fire,floods,embargoes,war,acts of war(whether war be declared or not),acts of terrorism,pandemics,insurrections,riots,civil commotions, strikes,lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority,or the other Parry. Events of Force Majeure shall extend the period for the performance of the obligations for a period equal to the period(s)of any such delay(s). 19. MANAGEMENT: Management of the Parking Garage shall be by an independent third party management company agreed to amongst the Parties. Buyer C"' Seller UATED DEVELOPMENT 20. AUTHORITY: Both Parties represent that the execution and delivery of the LOI and Agreement and the consummation of the transactions contemplated hereby do not and will not(i)violate or conflict with the organizational documents of Landlord or Tenant; (ii) breach the provisions of,or constitute a default under,any contract,agreement,instrument or obligation to which Landlord or Tenant is a party or by which Landlord and Tenant bound;and(iii)require the consent or approval of any other third party. The Parties executing the Agreement are authorized by their respective organizational documents to enter into the Agreement and bind each Party to the terms hereof, It is understood by both Parties that this LOI is non-binding and is simply an indication of the current terms and conditions under which the Tenant is willing to go forward with leasing the Demised Premises. Notwithstanding the foregoing,at the time the Tenant is selected by Boynton Beach CRA pursuant to the RFP/RFQ,the Parties may negotiate and revise this LOI,and any exhibits,as necessary in order to reach agreed upon Terms. Parties agree to work in good faith to finalize and execute the Agreement under the same terms and conditions contained herein. This LOI may be executed in one or more counterparts,each of which shall be deemed an original,but all of which will be deemed one instrument. Parties may execute this LOI and transmit same by facsimile or email, and in such event,agree that acceptance by facsimile or by email shall be treated in the same fashion as an original signature. The Effective Date of this LOI shall be on the later of the dates as executed by both Parties below. (SIGNATURE PACE TO FOLLOW) 3 Buyer_~ F Seller_......_.-_._.... ....._.. AFFILIATED D E V E L O P M E N T By signing below Parties agree to the terms and conditions contained herein. AGREED TO AND ACCEPTED: AGREED TO AND ACCEPTED: TENANT:BB QOZ,LLC, LANDLORD:Boynton Beach CRA and/or City of Boynton Beach DATE: ` 1 ,' DATE: BY: L... 1 BY: __ ............ ....-.n..._.....,.._..v.._..�.._........... ...__._._... NAM7E:11 Burr s NAME: Steven B.Grant TITLE:Manager TITLE:Mayor and Chair r 4 Buyers. ._.. EXHIBIT"A" PRELIMINARY SITE PLANS 2 ,tV'1 am ry — — � 11411 1 OCEAN BOULEVARD 1 �3f YO CID u I 1 Siiy �, , (�r� 31;5� m fi,r} DST{��t { sy fit jt' t t, m n i rw a NE 1ST AVENUE � `tom NF cXi O0D �i �' \ m { 1 a V4'm �� ,I 411 th„ t ctrl;' s w;. # tttti s.,. I aTMeA .ic y� y y # J"ga tA ! el �L A t, � F� 1. _ �`•� ,4, 4A, I i as i'm u i# .� § �U! {} 7't, ,tss { t( }u �( w t iur, cI St `stfr� �, o l ® C" " - , -sE m Ia ,'" MSA MSA AR IIECTs INC THE PIERCE a maa�mw. PS FM�^ rc AFFILIATED DEVELOPMENT ARCHITECTS ®w`Flaa s5ad! LOCATED AT: c a Haase: DOYNTON BEACH,FLORIDA ARCHITECTURE&PLANNING �µ®�waw _. j EXHIBIT"B" PARKING PLANS 1 O m - m �A � � I __. � .,a•.;: � G ! >',,. a Y a e o ...a .. M r. LS z c. cn , m �i b ucxmm�emww moa nmuwr.m ra can rc TM..wairrcrs moxiawa,�sews.xo armrrno ^�'"E nm�a+exuwo .�E soar ni,oma.s mnxu.m�nff T PIERCE ~g' MSA ARCNITECIS IAC IZ �� THE PIERCE --.-n=--_ D �) S/ , AAC000695 FORg' N n rob A gn m sPARCHITECTS AFFILIATED DEVELOPMENT LOCATED Ar u BOYNTON BEACH, FLORIDA ARCHITECTURE&PLANNING - - ,� -- U-i O JV O 4-1 _0 C) I Z dik ATTACHMENT"D.1" DISCLOSURE AND AUTHORIZATION TO PERFORM CREDIT CHECK An authorization to Perform Credit Check will need to be completed by each Principal/Owner. For PrincipalOOwner: Please use a separate form for each princiaal/owner} As Principal/Owner of Proposer, I Nicholas Rojo (name) hereby affirm I have read the above disclosure, and consent to and authorize the Boynton Beach Community Redevelopment Agency's ("BBCRA") investigation into my credit worthiness. Such consent and authorization are given with respect to any and all persons who may conduct an investigation of my credit worthiness on behalf of the BBCRA, including independent contractors and credit agencies retained by the BBCRA for such purpose. Any information provided to the BBCRA is a public record subject to the provisions of Ch. 119 F.S., and I may request a copy of any information provided to the BBCRA as part of the BBCRA's investigation into my credit worthiness. I grant such consent and authorization to the BBCRA for the period commencing as of the date of this authorization and terminating at the time a Proposal is selected by the BBCRA Board. I hereby waive any and all claims, past present or future, which I may have against the BBCRA by reason of any credit investigation made pursuant to my consent and authorization herein given to the BBCRA. Proposer Name: Affiliated Development Principal/Owner Name: Nicholas Rojo Date of Birth: 06/17/1982 Current Home Address: 528 Greenway Drive North Palm Beach, FL 33408 Previous Home Address: 307 Wildermere Rd West Palm Beach, FL 33401 Email:—NRojo@AffiliatedDevelopment.com phone #: 561-644-0853 Signature: Date: Print Name: Nicholas ojo —'/'PA.;4' I Page 21 of 30 ATTACHMENT"D.1" DISCLOSURE AND AUTHORIZATION TO PERFORM CREDIT CHECK An authorization to Perform Credit Check will need to be completed by each Principal/Owner. For Principal/Owner: LPlease use a separate form for each principal/owner) As Principal/Owner of Proposer, I Jeffrey R. Burns (name) hereby affirm I have read the above disclosure, and consent to and authorize the Boynton Beach Community Redevelopment Agency's ("BBCRA") investigation into my credit worthiness. Such consent and authorization are given with respect to any and all persons who may conduct an investigation of my credit worthiness on behalf of the BBCRA, including independent contractors and credit agencies retained by the BBCRA for such purpose. Any information provided to the BBCRA is a public record subject to the provisions of Ch. 119 F.S., and I may request a copy of any information provided to the BBCRA as part of the BBCRA's investigation into my credit worthiness. I grant such consent and authorization to the BBCRA for the period commencing as of the date of this authorization and terminating at the time a Proposal is selected by the BBCRA Board. I hereby waive any and all claims, past present or future, which I may have against the BBCRA by reason of any credit investigation made pursuant to my consent and authorization herein given to the BBCRA. Proposer Name: Affiliated Development Principal/Owner Name: Jeffrey R. Burns Date of Birth: 04/13/1982 Current Home Address: 804 N Rio Vista Blvd Fort Lauderdale, FL 33301 Previous Home Address: 720 Ponce de Leon Dr Fort Lauderdale, FL 33316 Email: JBurns@Affiliated Development.comPhone#: 954-798-6030 Signature: --Date:,t 0 ffer # - Print Name: Jey urns Page 21 of 30 ATTACHMENT"D.2." AUTHORIZATION TO PERFORM CREDIT CHECK For Proposer(Business Entit The Proposer hereby consents to and authorizes the Boynton Beach Community Redevelopment Agency's ("BBCRA") investigation into the credit worthiness of the Proposer. Such consent and authorization are given with respect to any and all persons who may conduct an investigation of the proposer's credit worthiness on behalf of the BBCRA, including independent contractors and credit agencies retained by the BBCRA for such purpose. Any information provided to the BBCRA is a public record subject to the provisions of Ch. 119 F.S. Proposer grants such consent and authorization to the BBCRA for the period commencing as of the date of this authorization and terminating at the time a proposal is selected by the BBCRA Board. This proposer hereby waives any and all claims, past present or future, which the proposer may have against the BBCRA by reason of any credit investigation made pursuant to proposer's consent and authorization herein given to the BBCRA. An authorization to Perform Credit Check will need to be completed by each Principal/Owner and by the Business. Proposer (Business) Name (D/B/A if applicable): Affiliated Development (Developer: BB QOZ, LLC) Current Business Address: 613 NW 3rd Ave, Suite 104 Fort Lauderdale, FL 33311 Federal Tax ID# 82-3300420 (86-1545855) State of Incorporation:_ Florida Phone #: 954-953-6733 Fax#:,- Authorized Signature: Date: I b m Print Name: Jeffrey R. PuTitle: Manager Page 22 of 30 ATTACHMENT"G" AUTHORIZATION FOR RELEASE OF INFORMATION To whom it may concern: The undersigned hereby authorizes you to release to the Boynton Beach Community Redevelopment Agency(BBCRA)or the City of Boynton Beach any information in your possession regarding the undersigned either of a professional credit or personal nature including the statement of your opinions with regard to the undersigned's professional credit and personal character, or of the proposer identified below. The undersigned also authorizes you to release to the Boynton Beach Community Redevelopment Agency(BBCRA)or the City of Boynton Beach any information in your possession regarding the business identified as "Proposer" below. YY By: Print Na� Jeffrey R. Burns STATE OF FLORIDA COUNTY OF PAW-_SZXM� THE OREGGING INSTRUMENT was cknowledged before me this day of a a, 20�, by _ ., ,,, o who is personally known„to me or who has respectively produced as identification and did not take an t Notary Public: f Print Name: k "� Commission No: (Se I) , MICHELLE A RICE �pWY pU® M Commission Expires: ___ `.State of Florida-Notary Public Y P , wp Commission # GG 159518 MY Commission Expires November 13, 2021 Page 25 of 30 ATTACHMENT"G" AUTHORIZATION FOR RELEASE OF INFORMATION To whom it may concern: The undersigned hereby authorizes you to release to the Boynton Beach Community Redevelopment Agency(BBCRA)or the City of Boynton Beach any information in your possession regarding the undersigned either of a professional credit or personal nature including the statement of your opinions with regard to the undersigned's professional credit and personal character, or of the proposer identified below. The undersigned also authorizes you to release to the Boynton Beach Community Redevelopment Agency(BBCRA)or the City of Boynton Beach an °LafoWation in your possessi l regarding the business identified as "Proposer" below. . "^ �v By: _ Print Name: Nic as Rojo STATE OF FLORIDA COUNTY OF PALWS ASH THE FOREGOING INSTRUMENT was acknowledged before me this day of 20-211 by .- who is personally, known to me or who has respectively pro ced as identification and did not take an oath. .. Notary Public: Print Name: - MICHELLE A RICE Commission No: (Seal) state of Florida-Notary Public Commission # GG 159518 My Commission Expires: My Commission Expires November 13, 2021 Page 25 of 30 U-i Ll- > DEVELOPMENT October 15, 2021 Boynton Beach Community Redevelopment Agency ATTN: Ms.Thuy Shutt, Director 100 East Ocean Avenue,4th Floor Boynton Beach, FL 33435 RE: Written Statement on legal action involving the Proposer Ms. Shutt: I am writing this letter to inform you that Affiliated Development, BB QOZ, LLC,or any related entities or subsidiaries thereof,have not been named in any current or past civil or criminal legal actions. Sincerely w,w 4 Nicholas Rt Manager, BB QOZ, LLC n - Lu 4-j 4-j m 4-j U) tu ;;' ",. D E V E LO P M E N T October 15,2021 Boynton Beach Community Redevelopment Agency ATTN: Ms.Thuy Shutt, Director 100 East Ocean Avenue,41h Floor Boynton Beach, FL 33435 RE: Written Statement on outstanding financial obligations of Proposer Ms.Shutt: I am writing this letter to inform you that Affiliated Development, BB QOZ, LLC,or any related entities or subsidiaries thereof,are not in arrears on any taxes or financial obligations to the Boynton Beach CRA,the City of Boynton Beach or any other municipal or state entities. 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N }' ca N (n U f6 O i U N N a� N J N �O > Q O O U N •N m x N m ateJ p m cn l0 D E U > L'7 ca a� o a �_ �_ �_ a �►r�' "' +., a-J — Q m 0_ 70 ) an O 2 0 ° � o o � � a O O ca +N-+ O >: N Q v Q Q Q U H 4-j Q U O 4-+ M ca H n - Lu E 0 U- U- C: I 0 co 0 4-j F Ah dh b9-- II I JLL ATTACHMENT"E" CITY OF BOYNTON BEACH PLANNING AND DEVELOPMENT DEPARTMENT FORM Proposer(s): Affiliated Development has met with the City's Planning&Development Department to review the development that will be proposed within the 115 N. Federal Highway Block consisting of the following addresses and Property Control Number(s): Attachment"A" Property Addresses(check all applicable) Property Control Numbers IX BBCRA-owned Parcels 508 E. Boynton Beach Boulevard 08434528030010060 NE 11t Avenue 08434528030010100 NE 4t'Street 08434528030010080 115 N. Federal Highway 08434528030060010 ❑ #1 510 E. Boynton Beach Boulevard (Ace) 08434528030010030 ❑ #2 217 N. Federal Highway(S&F Properties) 08434528030010010 ❑ #3 209 N. Federal Highway(Camalier) 08434528030010121 X #4 101 N. Federal Highway(Rajas Family Investments, Inc.) 08434528030060130 X #5 500 Ocean Properties, LLC(Oyer) 511 E. Ocean Avenue 08434528030060100 515 E.Ocean Avenue 08434528030060111 529 E.Ocean Avenue 08434528030060120 General Summary of Proposed Mixed Use Development (check all applicable): K Approximate Gross Area of Non-residential/Commercial Uses 16,800 s.f. �J Approximate Total Number Market Rate Residential Units 118 Z Total#Rental Units 118 ❑ Total#For Sale/Condo Units. �I Approximate Total Number of Workforce Housing Units 118 ❑ Total#Rental Units 118 ❑ Total#For Sale/Condo Units_ ❑ Other Uses Approximate Overall Height 86 feet Approximate Number of Stories 8 Approximate Total Parking Spaces(including additional Public Parking Spaces) 601 Pre-development/Entitlement Applications(check all applicable): 0 Future Land Use Amendment ❑ Rezoning ❑ Conditional Use for 2 Site Plan Approval ❑ Replat rt - .� Other c � ,�c -/c c � � �Ie -7 �a 145 GCT 141: s City of Boynton Beirc Planning& Development Dept. 4 Staff Name/Signature: Date: /0 — Page 23 of 30 U-i Ll- > C: a) E cr 0 U1 ) dh b9-- • • } n ZA 1- .. 0 i i i CL i ��`�� Vi},� �s ,+ '�}• �1y~r tr,�t��. � �� Ytllil� �!��;�iS�j}�� } ,f'nr � � i� � ,i��,,t�a,�i. ��i�. s rt i r g } r} Ti i< 2 } s ,e a i } i iKi i�`�t t r i ( f ATTACHMENT"H" ADDENDA ACKNOWLEDGEMENT Receipt is hereby acknowledged of the following addenda to the The Boynton Beach Community Redevelopment Agency Request for Proposals and Developer Qualifications 115 N. Federal Highway Infill Mixed-Use Redevelopment Project By entering checking YES or NO in the space provided and indicating date received. No. 1 ® Yes ❑ No Date 08/27/2021 No. 2 ❑ Yes ❑ No Date No. 3 ❑ Yes ❑ No Date No. 4❑ Yes ❑ No Date No. 5 ❑ Yes ❑ No Date RFP/RFQ INFORMATION WAS OBTAINED FROM: ❑ BBCRA Website ❑ Newspaper Ad ❑ City Hall ® Other, please specify: E-mail Authorised 5i nature Jeffrey Burns Print Name Manager Title 08/27/2021 Date Page 26 of 30 ATTACHMENT"H" ADDENDA ACKNOWLEDGEMENT Receipt is hereby acknowledged of the following addenda to the The Boynton Beach Community Redevelopment Agency Request for Proposals and Developer Qualifications 115 N. Federal Highway Infill Mixed-Use Redevelopment Project By entering checking YES or NO in the space provided and indicating date received. No. 1 ❑ Yes ® No Date No. 2 ® Yes ❑ No Date 09/24/2021 No. 3 ❑ Yes ❑ No Date No. 4❑ Yes ❑ No Date No. 5 ❑ Yes ❑ No Date RFP/RFQ INFORMATION WAS OBTAINED FROM: ❑ BBCRA Website ❑ Newspaper Ad ❑ City Hall ® Other, please specify: E-Mail Authorized Si 'name,,:. �a Jeffrey Burns Print Name Manager Title 09/24/2021 Date Page 26 of 30 ATTACHMENT"H" ADDENDA ACKNOWLEDGEMENT Receipt is hereby acknowledged of the following addenda to the The Boynton Beach Community Redevelopment Agency Request for Proposals and Developer Qualifications 115 N. Federal Highway Infill Mixed-Use Redevelopment Project By entering checking YES or NO in the space provided and indicating date received. No. 1❑ Yes ❑ No Date No. 2 ❑ Yes ❑ No Date No. 3® Yes ❑ No Date 10/04/2021 No. 4❑ Yes ❑ No Date No. 5❑ Yes ❑ No Date RFP/RFQ INFORMATION WAS OBTAINED FROM: BBCRA Website `x Q Newspaper Ad ❑ City Hall ® Other, please specify: E-mail Autho ed ignature Jeffrey Burns Print Name Manager Title 10/05/2021 Date Page 26 of 30 ATTACHMENT"I" PUBLIC ENTITY CRIMES STATEMENT A person or affiliate who has been placed on the convicted vendor list following a conviction for public entity crime may not: Submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; submit a bid proposal, or reply on a contract with a public entity for the construction or repair of a public building or public work; submit bids, proposals, or replies on leases of real property to a public entity; be awarded or perform work as a contractor, supplier,subcontractor or consultant under a contract with any public entity;or transact business with any public entity in excess of the threshold amount provided in Section 287.017, Florida Statutes, for CATEGORY TWO for a period of thirty-six (36) months following the date of being placed on the convicted vendor list. As the person authorized to sign the Statement, I certify that proposer has not been placed on the convicted vendor list within the past 36 months and complies fully with the above requirements. Affiliated Development Proposer Name � Authrizei ature Jeffrey Burns Print Name Manager Title Date Page 27 of 30 ATTACHMENT"J" CERTIFICATION OF DRUG FREE WORKPLACE PROGRAM I certify that Affiliated Development , the proposer responding to this RFP/RFQ, maintains a drug-free workplace program, and that the following conditions are met: (1) Proposer publishes a statement notifying employees that the unlawful manufacture, distribution, dispensing, possession, or use of a controlled substance is prohibited in the workplace; and specifying the actions that will be taken against employees for violations of such programs. (2) Proposer informs employees about the dangers of drug abuse in the workplace, the company's policy of maintaining a drug-free workplace, any available drug counseling, rehabilitation, and employee assistance programs, and the penalties that may be imposed upon employees for drug abuse violations. (3) Proposer gives each employee engaged in providing the commodities or contractual services included in this RFP a copy of the statement specified in Subsection (1). (4) In the statement specified in Subsection (1), proposer notifies the employee that, as a condition of working in the commodities or contractual services covered under this RFP/RFQ, he/she will abide by the terms of the statement; and will notify the employer (proposer) of any conviction of, or plea of guilty or nolo contendere to any violation of Chapter 893 or any controlled substance law of the United States or any state, for a violation occurring in the workplace no later than five (5) days after such conviction. (5) Proposer imposes a sanction on, or requires the satisfactory participation in a drug abuse assistance or rehabilitation program if such is available in the employee's community by, any employee who is convicted. (6) Proposer makes a good faith effort to continue to maintain a drug-free workplace through implementation of this Section 287.087, Florida Statutes. As the person authorized to sign the statement, I certify that proposer complies fully with the above requirements. Authorized Signature:g � Date Name &Title (typed) Jeffrey Burns/ Manager Page 28 of 30 ATTACHMENT"K" CERTIFICATION OF NON-SCRUTINIZED COMPANY Affiliated Development , as proposer, hereby certifies that it is not on the Scrutinized Companies that Boycott Israel List created pursuant to Section 215.4725, Florida Statutes, and is not engaged in a boycott of Israel. If the BBCRA determines that this certification is falsified or contains false statements, or that proposer is placed Scrutinized Companies that Boycott Israel List or engages in a boycott of Israel after the submittal of the proposal or the execution of any Agreement arising out of this RFP/RFa the BBCRA may disqualify the Proposal and/or terminate the Agreement. Affiliated Development Proposer Name By: Autf�briz-erpresentative of Proposer E�. Date: r STATE OF COUNTY OF SWORN TO and subcr'bed before me this day of N 20 ' b y nj V1qS--7' Such person (Notary Public must check applicable box): Kis pesonally known to me [ ] produced their current driver license [ ] produced as identification. (NOTARY PUBLIC SEAL) Notary Public (Printed, Typed or Stamped Name of Notary Public) { P�YwUe% MICHELLE A RICE State of Florida-Notary Public Commission # GG 159516 -,;rEo F°pr My Commission Expires ' %++ November 13, 2021 Page 29 of 30 U-i Ll- > C: a) E 0') 0 0 C: _Ile FL dh bF9"_-7- Im --qqq ATTACHMENT"L" ACKNOWLEDGMENT LETTER PROPOSER(S) SHALL INCORPORATE THIS ACKNOWLEDGEMENT LETTER IN THEIR SUBMITTAL PACKAGE Re: Boynton Beach Community Redevelopment Agency Request for Proposal/Request for Qualifications (RFP/RFQ) dated July 23, 2021 115 N. Federal Highway Infill Mixed-Use Redevelopment Project To Whom It May Concern: The undersigned has read the Boynton Beach BBCRA(BBCRA) Request for Proposal/Request for Qualifications (RFP/RFQ) for the 115 N. Federal Highway Infill Mixed-Use Redevelopment Project,dated July 23,2021. On behalf of proposer identified below and our proposal team, we agree to and accept the terms, specific limitations, and conditions expressed therein. We have read, rely upon, acknowledge and accept the BBCRA's disclosure and disclaimer, which is fully incorporated by reference into this letter, and certify that all of the requirements as described in the RFP/RFQ are met and all required documents are enclosed. We further certify that all information presented in this proposal, and all of the information furnished in support of the proposal, is true and complete to the best of our knowledge and belief, and we are aware of the fact that making false statements or presenting false information that results in an Agreement may be penalized to the maximum extent allowed by law. Sincerely, Affiliated Development Name of Proposer Jeffrey R. Burns, Manager o Print Name and Title Authori ed ig ture "- , Date Page 30 of 30 BOYNTO C D m'suBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 OLD BUSINESS AGENDAITEM: 13.D. SUBJECT: Discussion and Consideration of the CRA-owned Property located at 401-407 E. Boynton Beach Boulevard SUMMARY: On February 26, 2021, the property located at 401 E. Boynton Beach Boulevard was purchased along with the adjacent properties (407 & 411) (see Attachment 1). There were originally two one- story buildings located onsite: 401 E. Boynton Beach Boulevard (2,078 sq. ft.) and 411 E. Boynton Beach Boulevard (3,687 sq. ft.). The property was purchased for future development of the entire block. In July 2021, the building located at 411 E. Boynton Beach Boulevard was demolished due to its condition, high cost of repairs, and lack of adequate parking. In March 2021, pursuant to the direction of the CRA Board, CRA Staff began lease negotiations with Tim Collins for a retail fish market in the building located at 401 E. Boynton Beach Boulevard. On October 13, 2021, CRA staff was able to obtain a $75,000 grant from the Solid Waste Authority for the construction of a new parking lot for 401 E. Boynton Beach Boulevard (see Attachment 11)which would help with the costs of renovation to activate the remaining building. After a year of lease negotiations, the CRA Board and Mr. Collins terminated lease negotiations due to the high cost of renovation to bring the building into code compliance for only a temporary period of use (approx. $100,000 -see Attachments I I I and IV). Due to the high cost of renovating the existing building to meet code and the challenges associated with renting the building on a temporary basis, staff is requesting Board direction on the property at 401 E. Boynton Beach Blvd. For the purpose of discussion, attached is a cost estimate performed by the City in August 2021 when the City was interested in the site for other civic or cultural related uses (see Attachment V). FISCAL IMPACT: To be determined by the CRA Board. CRA P LAN/P ROJ ECT/PROGRAM: 2016 Boynton Beach CRA Community Redevelopment Plan CRA BOARD OPTIONS: 1. Direct staff to proceed with construction of a new parking lot at 401 E. Boynton Beach Boulevard. 2. Authorize staff to seek approval from Solid Waste Authority to reallocate the $75,000 grant to the demolition of 401 E. Boynton Beach Boulevard and other eligible demolition activities within the CRA area and authorize the Chair to execute the amendment to the I LA subject to final approval by legal counsel. 3. Alternative direction to staff by the Board upon further discussion ATTACHMENTS: Description D Attachment I - Location Map D Attachment II - Parking Lot Layout D Attachment III - Fish Market Renovations Cost Estimate D Attachment IV - March 9, 2022 CRA Board Agenda Item D Attachment V -City's Cost Estimate �F , ,R 41 Rt rt ' 5r ;' �(r \ (( ji �� }} M 1�i 'p rl v4 r yY W C� 5iliu, £ fi �� W tp �)I Z U 13, 311 , `}' [� Z r r "i 5. R m�I ilk, y , i i {{ f S 1, s�11s, r lr� J N � l£�v kti£V`; al 4 ! Qi r c v }} �i;,2 dxi OL Iq yF - y 0 °N 4 as �v Boynton Beach Fish Depot Location Projected opening costs: Initial costs Rent: $7,500 1St, Last&Security(unsure of the Tax& Insurance amounts) Architect Balance: $3,200 Permitting: $1500-$2000(unsure of cost) Deposits for subs: 50% Balance Due on Completion Parking Lot$27,500 $27,500 Electric$ 6,500 $6,500 HVAC$4,500 $4,500 Plumbing: $3500 $3,500 Flooring: $3,200 $3,200 Signage: $3,000 $3,000(depending on city code design approval) Minor interior Construction $1,500 $1,500 Needed to get started: $62,400 Balance: $49,700 Total $112,100 Equipment Lease closing costs: 1St& Last month's payment$3,003.33 Sales taxes: $5,950 Based on $85,000 Equipment Lease/Purchase Package Estimate from Delray Food Service Inventory: Seafood: $6,500 Dry Items/spices/mixes$2,500 Packaging: $500 Soda/Water/Drinks$350 BOYNTO C D wimBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD M EETING OF: March 9, 2022 OLD BUSINESS AGENDAITEM: 16.D. SUBJECT: Approval of Termination of Potential Lease Agreement with C Life C Food, Inc. for the CRA- owned Property located at 401-407 E. Boynton Beach Boulevard SUMMARY: On January 11, 2022, Mr. Collins verbally withdrew his Letter of I ntent to lease the CRA property located at 401 E. Boynton Beach Blvd. as a fish market. On January 28, 2022, Lewis Longman & Walker, CRA legal counsel, sent Mr. Collins the attached letter confirming his verbal withdrawal of his Letter of I ntent (Attachment 1). As of this date C RA staff has not had any further correspondence with Mr. Collins. FISCAL IMPACT: N/A CRA P LAN/P ROJ ECT/P ROG RAM: 2016 Boynton Beach CRA Community Redevelopment Plan CRA BOARD OPTIONS: 1. Terminate all negotiations with Mr. Collins regarding the property located at 401 E. Boynton Beach Boulevard. 2. Provide CRA staff with alternative direction. ATTACHMENTS: Description Attachment I - Letter confirming verbal termination AttorneyuatLavv LLEWIS Um+\�vvrn L�N�� .coLW I WALKER Reply To: West Palm Beach January 28, 2O2J Tim Collins 193QNE5th Street Deerfield Beach, FL33441 Re: 4O1E. Boynton Beach Boulevard; Termination mfNegotiations Dear Mr. Collins: On behalf ofthe Boynton Beach Community Redevelopment Agency /"BBCRA"\, please accept this correspondence an formal acceptance of your January 11, 2022, verbal withdrawal of your Letter of Intent for the above referenced property. 88CRA staff will be recommending termination ofthese negotiations at its March 9, 2822, Board meeting. Please let me know should you have any questions regarding the above. Sincerely, � �� o= v Kenneth Dodge, Esquire KVVD/j|b cc.: Thuy Shutt, Executive Director, BB[RA vzwoom^ /ACxsowvuuc ST.PETERSBURG TALLAHASSEE rxxxpx WEST PALM BEACH z4sRiverside Ave. zonSecond Ave.South szsSouth Calhoun St. ao1West Platt St. ssoSouth Rosemary Ave. Suite S10 Suite 501-S Suite 930 Suite 364 Suite 1100 Jacksonville,Florida 32202 St. Petersburg,Florida 33701 r^noxauee'Florida 32301 Tampa,Florida 33606 West Palm Beach,Florida az*uz T:904.353.6410 T:727.24S.0820 T:850.222S702 T:813.775.2331 T:S61.640.0820 F:9043S3.7619 p:rzrzyo4osr F:850.224.9242 F:561.640.8202 �ee11h,,�mgs D�fferenfly` OLD ABC RENTAL BUILDING 401 EAST BOYNTON BEACH BLVD SCOPE AND COST ESTIMATE: SCOPE: The following work will need to be performed at this location. • Demo the interior non bearing walls with the exception of the bathroom walls. $5,700.00 • Frame perimeter wall with 1 %" 25ga metal studs, hang and finish drywall with a knock down finish. $15,800.00 • Install new HVAC system with new air handler, condenser, and exposed metal duct work $14,000.00 • Electrical, Install new LED lights, outlets along walls, power to new A/C units,and garage door opener.$9,600.00 • Flooring, Install new Water proof vinyl flooring$8,700.00 • Repair existing garage door and install electric garage door opener$2,700.00 • Exterior masonry block work, stucco and paint to close off rear area of building$9,700.00 • Front doors to be replaced with hollow metal doorjamb and doors$3,200.00 • Windows, replace jealousy windows with new double hung windows or block in $1,100.00 • Roof, Reseal roof with siliconized fluid applied roofing materials$4,800.00 • Paint exterior walls$7,200.00 • Asphalt/Curbing/Signage/Striping$75,300.00 Total Cost Estimate: 1691000.00 New Parking of Proposal City Of Boynton Beach Public Works Carl Frumenti Project: Fish Depot 401 E. Boynton Beach Blvd. Boynton Beach, FL 33435 ATILANTICSOUTHERN PA L.G A Rich Atzert Account Manager Your Pavement Contractor Company Info Contact Person ATLANTICSOUTHERN PAVINCr AND 5EALCOASENG Rich Atzert Atlantic Southern Paving and Sealcoating Account Manager 6301 West Sunrise Blvd Rich( atlanticsouthem —v qg.corn Sunrise, Florida 33313 Cell: 954-299-6114 Office 954-581-5805 P: 954-581-5805 F: 954-581-0465 htt,l,,,,�://www.atlanticsouthem;:,,,avi'n,,.com About Us We Solve Problems and Make Complicated Simple! We understand that as a manager, owner or investor of properties all over the United States, you need a partner to develop a strategic plan that will preserve your investment for the long term for the least amount of money. Atlantic Southern Paving & Sealcoating provides pavement design, maintenance & construction services to the residential, commercial, recreational and industrial markets throughout the United States. Please find the enclosed proposal and do not hesitate to call us with any questions. Watch a Video About Us: CLICK HERE FDOT Certified Contractor Page:2 OUTHERN Proposal: Fish Depot T I EAKOATNG PAYING AND SEAtCOAiING Site Work 1. Item 53-Remove asphalt 237.7 SY @$20.00 per SY $4,754.00 2. Item 23-remove unsuitable material 393 CY @$30.00 Per CY $11,790.00 3. Item 24- Import suitable fill 307.5 CY @$27.00 CY $8,302.50 4. Item 31 -6"limerock 487.3 SY @$15.00 per SY $7,309.50 Total Price: $32,156.00 Asphalt 1. Item 40- 1"asphalt 31.6 tons @$175.00 per ton $5,530.00 2. Item 41 - .5"asphalt 15.8 tons @$95.00 per ton $1,501.00 Total Price: $7,031.00 Concrete 1. Item 86- D Curb 540 LF @$39.00 per LF $21,060.00 2. Item 87- F Curb 27 LF @$47.00 per LF $1,269.00 3. Item 92-6"concrete 322 SF @$12.50 per SF $4,025.00 Total Price: $26,354.00 Proposal: Fish Depot I sALCOAT 1� PAVING AMC7 iEdLC0A76NG Striping and Signage 1. Item 73-handicap symbol 2 @$100.00 each $200.00 2. Item 58-6"white lines 356 LF @$.75 per LF $534.00 3. item 80-single post and two signs 1 @$250.00 each $250.00 4. Item 79-single post sign 1 @$175.00 each $175.00 5. Item 66-24"white lines 60 LF @$5.00 per LF $300.00 6. Item 67-Arrows 5 @$200.00 each $1,000.00 Total Price:$2,459.00 Survey and Testing 1. Item 108-Testing 12 @$25.00 each $300.00 2. Item 108-Survey 280 @$25.00 each $7,000.00 Total Price: $7,300.00 Page 4 HERN Proposal: Fish Depot TDSEALC ONG PAYfN&AND SEALCOATING SP-1 pl, I� t U _JI�, „j RY31 Notes: Price Breakdown: Fish Depot I LAMATlz PAutN6 AND SEAiCOA7ING Please find the following breakdown of all services we have provided in this proposal. This proposal originated on August 18, 2021. Item Description Cost 1. Site Work $32,156.00 2. Asphalt $7,031.00 3. Concrete $26,354-00 4. Striping and Signage $2,459.00 5. Survey and Testing $7,300.00 Total: $75,300.00 Authorization to Proceed & Contract The above prices,specifications and conditions are hereby accepted. You are authorized to do the work as specified. Payment will be made as outlined. When signed,this document becomes a contract. MOE We understand that if any additional work is required different than what is stated in this proposallcontract, it must be in a new contract or added to this contract. Please see all attachments for special conditions that may pertain to aspects of this project. This proposal is good for a period of up to 30 days from the date of the proposal. THERN Proposal: Fish Depot DSIAL OATING PAYING SIALCOATING HG Payment Terms We agree to pay the total sum or balance in full upon completion of this project. No deposit required. Date: Carl Frumenti I Project Manager Rich Atzert I Account Manager City Of Boynton Beach Public Works Atlantic Southern Paving and Sealcoating 222 NE 9th Ave 6301 West Sunrise Blvd Boynton Beach, FL 33435 Sunrise, Florida 33313 frumentic@bbfl.us E: Rich@atlanticsouthempaving.com C 561-512-4408 C: 954-299-6114 0:561-512-4408 P: 954-581-5805 F: 954-581-0465 hftp://www.atlantiGsouthern m`�com BOYNTO C D wimBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 NEW BUSINESS AGENDAITEM: 14.A. SUBJECT: Discussion and Consideration of the Terms of the Homebuyer Assistance Program SUMMARY: This item is being brought before the CRA Board for discussion and direction on the terms of the CRA's Homebuyers Assistance Program (HAP)which was established in Fiscal Year 2005-2006 and continued through Fiscal Year 2009-2010. BACKGROUND OF PROGRAM In early 2006, CRA Staff drafted and presented to the CRA Board the Homebuyer Assistance Program (HAP) that would work in tandem with the City's State Housing Initiative Partnership (SHIP) program. The CRA funds were to provide gap funding between the mortgage amount and the City's SHIP funds. Combining the two funding sources, the CRA and City, would help to close the gap between what a family could afford and the price of housing. The CRA Board also reviewed and approved a shared equity return policy on the CRA investment. The CRA's share of the equity is proportionate to the amount of CRA funds invested in the home. The funds would then be reinvested into additional affordable housing units. The CRA's policy was adopted based on the City's shared equity policy. All CRA funds would be due at the time of sale. Consistently through the discussion of establishing the HAP program, the CRA Board emphasized the importance of protecting the funds for future use. Attachments I, 11 & I I I outline the CRA Boards approval of the general terms of the HAP grant outlined below: • HAP would work in tandem with the City's SHIP program, a down payment assistance program. The CRA funds would provide gap funding between the mortgage amount and the SHI P funds. • HAP was designed to assist people of low to moderate income who were short of money, $5K up to $50K, to buy a home within the CRA area. • If a homeowner sold to a non-income qualified buyer, they would have to pay back the money plus interest on the money from the time they received it. • If a homeowner sold to an income qualified buyer, the funds would stay with the property to close the affordability gap. • If a homeowner leased the house, the mortgage would become due and payable with interest. • CRA funding would not exceed 40% of the purchase price and the maximum amount of funding would be $50K. • Equity Sharing was approved. The program would have lower equity during the first five years and increase as the homeowner remained in the home. Based upon previous CRA Board direction, the terms of the HAP loans vary. Therefore, each grant should be reviewed on a case by case basis due to the changes in the program throughout its lifetime (Attachment IV). GRANT PROGRAM INFORMATION Since the inception of the program a total of 35 grants were awarded totaling $1,694,672.31 in funding. Here is a breakdown of the status of the grants as of April 2022 (Attachment V): • 15 are active = $700,872.31 outstanding funding • 12 foreclosed = -$595,000.00 • 6 short sales = -$275,500 ($24,500 recouped) • 1 forgiven by CRA Board = -$50,000 • 1 grant repaid = $48,800 A total of $920,500.00 in funding has been lost due to foreclosure/short sales/forgiveness. All foreclosures/short sales (except for one — Andre Robinson) have occurred in the development known as The Preserve. Originally, The Preserve was a townhome ownership community which converted to rentals due to the change in demand of the real estate market. The Preserve also had several issues with Chinese drywall. This prompted owners at The Preserve to allow their properties to foreclose/short sale. GRANT WAIVERS The CRA Board has made significant changes to the terms and conditions of two HAP Recipients'Agreements as follows: LaSendra Hoggins-Wilson—Attachment VI • 2017 - The CRA Board allowed the owner to rent the property, waived the equity share and capped the loan repayment to no more than $47K (the original loan amount) upon sale of the property. • 2018 -Approved subordination of CRA Mortgage to allowfor refinancing of the property. • 2020 - Waived repayment of the loan if the property was sold to an income qualified buyer and would require repayment of the loan in a reduced amount of $15K if the property was sold to a non-income qualified buyer. • 2022 -Waived CRA right of first refusal and allowed sale to an income qualified buyer. Ian and Tosi Rigby-Attachment VI I • 2020 - Waiver of fifty percent (50%) equity share upon sale of the home and no interest charged on the loan if the property was sold to an income qualified buyer • 2022 - Forgave the loan in full ($50K) including interest ($26K) Other than unfortunate situation at The Preserve, the CRA has been consistent in enforcing the terms of the HAP Agreements and funds been collected back to be used for future affordable housing initiatives if the original grant recipients/homeowners did not fulfill the terms of the agreement. Due to the recent waivers of the HAP requirements as stated above, CRA Staff is requesting Board direction on the remaining fifteen (15) grants with a total value of $700,872.31. On April 12, 2022, the CRA Board tabled the agenda item to allow new Board members Angela Cruz and Tom Turkin time to review the supportive documents. FISCAL IMPACT: To be determined by the Board CRA P LAN/P ROJ ECT/P ROG RAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: To be determined by the CRA Board ATTACHMENTS: Description D Attachment I -2.14.06 M inutes &Agenda Item Est. HAP D Attachment II -3.14.06 M inutes &Agenda Item Est. HAP D Attachment III -5.9.06 Minutes &Agenda Item Est. HAP D Attachment IV - Loan Term by Fiscal Year D Attachment V -Grant Tracking D Attachment VI - Hoggins HAP Amendments -CRAAgenda Cover D Attachment VII - Rigby HAP Amendments -CRAAgenda Cover& M inutes BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM ,4sy r i� BOY TON BEACH Requested CRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meeting Dates Turned Meeting Dates CRA Office into CRA Office ❑ January 10,2006 December 27,2005(Noon.) ❑ July 11,2006 June 27,2006(Noon) 0 February 14,2006 January 31,2006(Noon) ❑ August 8,2006 July 25,2006(Noon) ❑ March 14,2006 February 28,2006(Noon) ❑ September 12,2006 August 29,2006(Noon) ❑ April 11,2006 March 28,2006(Noon) ❑ October 10,2006 September 26,2006(Noon) ❑ May 9,2006 April 25,2006(Noon) ❑ November 14,2006 October 31,2006(Noon) ❑ June 13,2006 May 25,2006(Noon) ❑' December 12,2006 November 28,2006(Noon) NATURE OF ❑ Consent Agenda ❑ Old Business ❑ Legal AGENDA ITEM ❑ Director's Report New Business ❑ Future Agenda Items ❑ Other Item DATE: February 1, 2006 SUBJECT SUMMARY PARAGRAPH: The CRA Board recently approved the issuance of a second bond in part to assist with the development of affordable housing initiatives. One of the proposed projects was a "buy down" voucher to be used to help low and moderate income families purchase homes. Staff has drafted the Homebuyer Assistance Program that will work in tandem with the City's SHIP program. The CRA funds will provide gap funding between the mortgage amount and the SHIP funds. By combining the two funding sources, the CRA and City, will help to close the gap between what a family can afford and the price of housing. RECOMMENDATION: Approve the Homebuyers Assistance Program. Fund the program up to $1,000,000 for fiscal year 2005/2006. FISCAL IMPACT/SOURCE OF FUNDS: $1,000,000 from Bond #2 proceeds. ALTERNATIVES: Do not approve the Program. CRA STAFF: Vivian L. Brooks CRA Planning Director T:\PROGRAMS&GRANTS\HAP-Home Buyer Assistance\2.14.06 HAP Agenda Cover.doc Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 properly zoned as commercial. Quintus Greene, Development Director, declared the Heart of Boynton Plan called for single family in that area. He questioned why the Board was talking about commercial there. The Board responded there was commercial zoning in place and the City had never rezoned the property in concert with the Heart of Boynton Plan. The answer was to declare a zoning moratorium, stop commercial development, and rewrite the zoning. He felt the Board had to allow Mr. Parker to build a commercial development, which he had a right to do, or pay him the fair value for a commercial piece of property. What would be done with the property later was a separate issue. Mr. Parker declared his understanding the $380K would be net and the CRA would take care of closing costs and demolishing the existing properties. Mr. Barretta amended his motion to state a "net amount of $380K." Mr. Myott agreed to the change. The motion passed 5-1, Ms. Horenburger dissenting. Chair Heavilin noted they had passed the 9:30 p.m. time certain adjournment and asked the Board what it wished to do. Motion Ms. Horenburger moved to extend the adjournment to 10:00 p.m. at the latest. Mr. Barretta seconded the motion that passed 6-0. B. Consideration of a Redevelopment Proposal from the Heart of Boynton Self- Assembly Group for Phase I of the HOB Plan (heard earlier) C. Consideration of a CRA Homeownership Assistance Program Vivian Brooks, CRA Planning Director, declared the CRA Board recently approved the issuance of a second bond, in part to assist with the development of affordable housing initiatives. One of the proposed projects was a "buy down"voucher to be used to help low and moderate income families purchase homes. Staff drafted the Homebuyer Assistance Program that would work in tandem with the City's SHIP program, a down payment assistance program. The CRA funds would provide gap funding between the mortgage amount and the State Housing Initiative Partnership (SHIP) funds. By combining the two funding sources, the CRA and City would help to close the gap between what a family could afford and the price of housing. The gap between wages and the cost of housing was well known. The program was designed to assist people of low to moderate income who were short of money, $5K up to $50K, to buy a home. In looking at some examples today, staff found three people working for the City who were trying to build houses on City land in the Heart of Boynton that could not afford to do it, even though the land was free. This program would allow those people to build affordable houses. The program document had been reviewed and approved by legal counsel. 22 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Ms. Horenburger said a feasibility infrastructure study was being done for the HOB area and nothing should be built there until that study was completed and reviewed. Ms. Brooks stated this was single- family infill on the west side of Seacrest Boulevard, in the single-family area. Mr. Barretta asked the CRA Finance Director, Robert Reardon, if he had assisted in the creation of the document. Mr. Reardon responded he had not, but the money was available in the bond proceeds to cover it. Mr. Barretta expressed a desire for someone with financial expertise to review the program. Mr. Myott asked if this issue would be brought up for discussion on February 22. Ms. Brooks responded it was a project discussed as a part of Bond #2. She was simply implementing the program. The concept was not new. Mr. Myott asked if they could mention police, teachers, and firefighters and other classifications. Ms. Brooks said it was open to anyone of low to moderate income purchasing a home within the CRA area. Mr. Myott asked if there were limitations on the sale of homes. Ms. Brooks indicated this was set by SHIP guidelines. If a homeowner sold to a non-income qualified buyer, they would have to pay back the money plus interest on the money from the time they received it. Also, they would have to pay the City back for the land that had been given to them. There was some concern about how this program would be monitored for compliance. Ms. Brooks responded if the homeowner leased their home out and bought another one and moved into it, they could only Homestead one property. It could be monitored through the Internet periodically. Chair Heavilin thought that a lot of people who could not afford housing now would still not be able to afford it, even with this program. The program would probably benefit a handful of people at best. Chair Heavilin added it might have been helpful for the Board to look at the SHIP guidelines, since much of this program was predicated on it. She confirmed with Ms. Brooks that City and CRA funding would not exceed 40% of the purchase price and the maximum amount of funding would be $50K. Mr. DeMarco felt parcels of land in the HOB should not be sold until the big picture there was assessed. Once the CRA sold or leased any parcel, they might find they had tied up a section that could disrupt something else they might want to do in the area. David Zimet, Boynton Beach Faith-Based Community Development Corporation, 2191 North Seacrest, Boynton Beach, commended the introduction of this additional layer of financing. The three persons mentioned were clients of his organization. Mr. Zimet's organization was working with 12 people in all who had been income-certified, but could not find a home they could afford. They were still faced with a first mortgage and the gap between what they could afford and the amount of mortgage they could support. They were hard working people with no credit issues, assets to the community, who needed this kind of help. He did not believe the situation was only for City or CRA-owned property, but it was for private property also. Two weeks ago, a standard Cherry Hills lot sold for over $70K. That was in an area where a year ago people refused to build on lots that were offered to them. People could no longer live where they used to be able to live because they could not afford to. He hoped the CRA assistance package would go forward. 23 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 The Board was not opposed to the program in concept, but wanted further details. Ms. Bright will bring it back to the next meeting with the necessary backup. Mr. Horenburger commented Boynton Beach had plenty of affordable housing, but no decent low-income housing. X. Comments by Board Attorney Attorney Spillias spoke of the Direct Incentive Agreement with Boynton Associates, Ltd. for the Ocean Breeze project that was approved by the Board subject to some language revisions being made between the developer and the attorneys. It came back to the Board last month and there were still open issues, one dealing with the definition of "developer" and the other with the procedures for assignment of the contract. They had worked those issues out and the contract was ready to be executed. Since the Board's original motion was for approval and subject only to the language being worked out between the attorneys, Attorney Spillias did not believe it had to come back to the Board. The Board had already basically approved it except for the language on the assignment issue. The attorney received a formal request from Mr. Finkelstein for this Board to approve the assignment of the contract to an affiliate, Tradewinds Development, LLC, which had been represented to him as being an affiliate under the definition of the contract. The Board could: 1) approve this in concept and have him bring back the actual assignment document for review and formal approval or, 2) approve it today, subject to the approval of the Executive Director and Attorney of the language and confirmation of the affiliation between Boynton Associates and Tradewinds Development. Motion Mr. Barretta moved the Board approve option two as outlined by the Attorney. Mr. Norem seconded the motion. Attorney Spillias stated that would be presupposed by both Boynton Associates and the CRA signing the original contract. Mr. Myott asked if there were any value in having Mr. Finkelstein comment on that. Mr. Spillias indicated he had already done the corporate records check with the Department of State to confirm the relationship between the two corporations. Mr. Myott asked Mr. Finkelstein if he would work within that structure and he responded affirmatively. Larry Finkelstein came to the podium, saying Attorney Dukes' letter to him asked for a formal letter, which he provided. Obviously there would be a formal assignment agreement and he did not have any problem with review of their internal assignment agreement. Attorney Spillias stated they had to make sure the assignment agreement conformed to the assignment requirement as drafted, and Mr. Finkelstein concurred. The motion passed unanimously. 24 BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM ,4sy r i� BOY TON BEACH Requested CRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meeting Dates Turned into CRA Office Meeting Dates CRA Office ❑ January 10,2006 December 27,2005(Noon.) ❑ July 11,2006 June 27,2006(Noon) ❑ February 14,2006 January 31,2006(Noon) ❑ August 8,2006 July 25,2006(Noon) 0 March 14,2006 February 28,2006(Noon) ❑ September 12,2006 August 29,2006(Noon) ❑ April 11,2006 March 28,2006(Noon) ❑ October 10,2006 September 26,2006(Noon) ❑ May 9,2006 April 25,2006(Noon) ❑ November 14,2006 October 31,2006(Noon) ❑ June 13,2006 May 25,2006(Noon) ❑ December 12,2006 November 28,2006(Noon) NATURE OF ❑ Consent Agenda ❑ Old Business Legal AGENDA ITEM ❑ Director's Report ❑ New Business ❑ Future Agenda Items ❑ Other Item DATE: April 6, 2022 SUBJECT SUMMARY PARAGRAPH: I was asked by the Board to give my opinion of the HOMEBUYERS ASSISTANCE PROGRAM, which is attached for your inspection. I will be glad to explain my concerns, and Vivian will also contribute to the discussion. RECOMMENDATION: Allow staff to discuss concerns and solutions so the program can go forward. FISCAL IMPACT/FUNDING SOURCE: Funds already budgeted for this program from proceeds of Bond #2 ALTERNATIVES: Do not approve CRA STAFF: T:\PROGRAMS&GRANTS\HAP-Home Buyer Assistance\3.14.06 HAP Agenda Cover.doc Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida March 14, 2006 Chair Heavilin asked about the applicant's request not to require burial of the overhead utilities if Yachtsman's Cove did not do so, but Ms. Horenburger believed the Board should request the staff-initiated condition. The motion passed 6-0 (Mr. Barretta recusing). V11. Old Business A. HomebuDiscussion Robert Reardon, Interim Assistant Director, Finance Director, and Operations Supervisor, spoke in response to a request initiated by Mr. Barretta for CRA staff to analyze the financial aspects of the Homebuyers; Assistance Program. Mr. Reardon included a detailed analysis in the agenda packet including a letter to the Board, the original guidelines, and the revised guidelines. He was satisfied Ms. Brooks had addressed all of his concerns in the proposed amended guidelines. The program provides gap financing. Three specific examples were mentioned where one person needed $11K to close the deal, another $30K, and another only $2K for closing costs. Not every applicant would ask for or need the full $50K. The program is meant to work in tandem with the City's SHIP program. A discussion ensued about the particulars of the Homebuyers Assistance Program amended guidelines. The majority of the discussion centered on the issue of shared equity. The program recipients would be monitored through the Tax Assessor's office to determine whether they filed for Homestead Exemption the year following purchase. If they did not do this, the mortgage would become due and payable with interest. If a person leased the house out, the mortgage would become due and payable with interest. If they sold to a non-income qualified buyer without advising the CRA, the CRA would get back 50% of the loan, depending on the sliding scale if the Board decided to go with a shared equity formula. If a property were resold to an income-qualified buyer, the funds would stay with the property to close the affordability gap. Rather than lose the affordable unit, it would stay affordable to the next family in that income range. None of the funds accrue to the seller. A shared equity formula would allow for some appreciation that would go to the first homebuyer. The City's program does not currently include equity sharing. This would have to be analyzed to determine how long a person would have to hold the property to achieve a certain amount of equity. Tax benefits and control of cost of living are two benefits that 10 Meeting Minutes Community Redevelopment Agency Boynton each, Florida March 14, 2006 accrue to the homebuyer regardless of whether they share in the equity or not. Many felt there should definitely be some amount of equity sharing. Ms. Brooks will come back to the Board with a formula. The consensus was that a sliding scale would be appropriate. The Board differed in its views of shared equity. Some felt the CRA needed to recapture as much of its funds as possible in order to continue providing affordable housing. Others felt the homebuyer should have an opportunity for some equity over time. The Board agreed the City and CRA programs should mirror each other. The length of time a homebuyer would have to occupy the house before any shared equity formula would begin and the amount of any sharing were issues. Ms. Octavia Sherrod, the City's Community Improvement Director, and Habitat for Humanity's President, Joe Santorella, were of the opinion low-income buyers tended to stay in their houses longer than the 4-6 years mentioned by Chair Heavilin. Of 64 Habitat for Humanity homes built in Palm Beach County over 15 years, only one buyer had subsequently sold the house. Ms. Sherrod made the point that participation was key. Low and very low-income buyers did not have a choice, but moderate and upper income homebuyers did. Ms. Sherrod wanted to work closely with Ms. Brooks to bring something back before the Board with the teeth the Board wanted, without sacrificing participation in the program. The City was thinking of including a shared equity component in its program, partly predicated on a fear the SHIP funding source might not be available for any length of time. A factor to be considered was that homebuyers were putting money into maintaining their properties on a daily basis, helping to increase the property's value. Motion Mr. Norern moved to approve the amended CRA Homebuyer Assistance Program guidelines as presented with no shared equity program. Mr. Barretta seconded the motion. Joe Santorella,, President of Habitat for Humanity, explained the homeowner shares with Habitat 1/30 per year of appreciation over the purchase price. However, for the first three years, their deed of conveyance declares the homeowner is not entitled to any appreciation. Typically, Habitat's mortgages run for 30 years and Habitat keeps a first-right-of-refusal option to buy the home back from the homeowner. The motion passed 6-1, Mr. Myatt dissenting. Motion Ms. Horenburger moved to direct staff to work with the City on the issue of shared equity, as part of the guidelines for the CRA Homebuyer Assistance Program, and come 11 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida March 14. 2006 back to the Board with a proposal. Vice Chair Tillman seconded the motion that passed 7-0. Ms. Brooks will bring shared equity scenarios to the Board at its next meeting. B. Update Ada-five Re-Use of the Old Ni h School Presented b Core O'Gorman Ms. Bright declared the Board had allocated the money in the budget to start the RFP process for the adaptive re-use of the Old High School. They contracted with Corey O'Gorman, who presented a Town Square concept to the City Commission in 2005. She invited Mr. O'Gorman to bring the Board up to date on the status of this project. Corey O'Gorman explained the process called for 1) community input, and 2) solicitation. A series of open house sessions were scheduled for March 16, 17, and 18 in the Library Program Room. The open house had been extensively advertised. The participants in the open houses would be shown a possible layout for adaptive re-use along with slides of the existing building and other buildings to generate questions and ideas. The participants would be asked to respond to a series of statements. Ms. Horenburger inquired whether the questions would include the possible cost to the taxpayers, and Mr. O'Gorman responded affirmatively. Mr. O'Gorman will present the findings from the open houses to the Board at its meeting on April 11. Chair Heavilin asked if the solicitation would include funding sources, and Mr. O'Gorman responded affirmatively. C. Marina Parking Easement Agreement Ms. Bright reported the Board approved an agreement at its December 15, 2005 meeting to purchase the Two Georges Marina from DSS Properties. The documents before the Board were a Marina Easement Grant and a letter from City Manager Bressner declaring this was a non-conforming site. The easement is necessary for the Two Georges Restaurant, which will remain in ownership of DSS Properties, to meet its parking requirements for the City. It is an easement for the north side only of the Casa Loma driveway. The south side remains under CRA control for drop-off for the marina slips. The north side will belong to DSS Properties for parking. Ms. Bright clarified the parking was now all for Two Georges. The agreement was such that during the daytime hours there would be signage on the side by the slips so people who wanted to drop off their dive gear would be able to do so. Ultimately, the CRA will own parking spaces in the parkinggarage when Marina Village is completed. The south side will revert to public parking after 6:00 p.m. The north side had to remain as an easement, which would also be sign-identified, for Two Georges Restaurant. 12 BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM ,4sy r i� BOY TON BEACH Requested CRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meeting Dates Turned into CRA Office Meeting Dates CRA Office ❑ January 10,2006 December 27,2005(Noon.) ❑ July 11,2006 June 27,2006(Noon) [:1 February 14,2006 January 31,2006(Noon) ❑ August 8,2006 July 25,2006(Noon) ❑ March 14,2006 February 28,2006(Noon) ❑ September 12,2006 August 29,2006(Noon) ❑ April 11,2006 March 28,2006(Noon) ❑ October 10,2006 September 26,2006(Noon) 0 May 9,2006 April 25,2006(Noon) ❑ November 14,2006 October 31,2006(Noon) ❑ June 13,2006 May 25,2006(Noon) ❑ December 12,2006 November 28,2006(Noon) NATURE OF ❑ Consent Agenda Old Business ❑ Legal AGENDA ITEM ❑ Director's Report ❑ New Business ❑ Future Agenda Items ❑ Other Item DATE: April 28, 2006 SUBJECT SUMMARY PARAGRAPH: At the February 2006, CRA Board meeting the Board approved the Homebuyers Assistance Program with direction to come back to the Board with a shared equity formula recommendation for CRA funds. A shared equity policy will return on the CRA investment. These funds can then be reinvested into additional affordable housing units. Community Improvement Department is implementing a shared equity policy (see attached) for their Down Payment Assistance Program. CRA staff recommends adopting the City's policy. The CRA's share of the equity will be proportionate to the amount of CRA funds invested in the home. As with the City's program, all CRA funds are due at the time of sale. Example: Original home price: $225,000 City SHIP funds $ 50,000 (71%) CRA Funds $ 20,000 (29%) Mortgage $155,000 New Sales Price @ yr 5 : $275,000 Equity $50,000 20% Equity to Seller $ 10,000 Percent of Equity to City $28,400 Percent of Equity to CRA $ 11,600 RECOMMENDATION: Approve the proposed shared equity formula. FISCAL IMPACT/FUNDING SOURCE: This proposal will provide a return on the CRA's investment. T:\PROGRAMS&GRANTS\HAP-Home Buyer Assistance\5.9.06 HAP Agenda Cover.doc BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM ,4sy r i� BOY TON BEACH ALTERNATIVES: Do not approve the shared equity formula. CRA STAFF: Vivian L. Brooks CRA Planning Director T:\PROGRAMS&GRANTS\HAP-Home Buyer Assistance\5.9.06 HAP Agenda Cover.doc Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida May 9, 2006 sf for the 10 and 20 du/acre areas, and 100,000 sf for the 30 and 40 du/acre) and very long absorption timeframes because there is not a strong market for retail. Dr. Delaney advised using a two-story minimum profile on MLK would act as a better gateway because it needs greater density to hold the street. The retail market was reviewed to determine what type of retail would be appropriate. Fifty thousand square feet of retail would take four to eight years to absorb on MLK at 10/20 du/acre. There is not a strong market for new retail but neighborhood retail makes sense. The CRA must participate as an agency to get development to take place. The CRA should assemble the land and discount it back to the developer so the community can be redeveloped back to the community and it will take a lot of money besides what has already been spent. Dr. Delaney explained some portions of the CRA may not require as much assistance as other areas of the CRA. There are TIF generators and TIF absorbers. There was not enough data to analyze infrastructure, although she did speak with the Utilities Department. Ideally there will be a 20 to 40 year generator, so the CRA would make strategic investments to act as catalysts to generate good development occurring around the downtown areas. There was discussion among the board members that the CRA received the tools and now is the time to take action. It was further discussed this was a major first step to put together something the entire community can embrace. Both sides of the community would need to give and take, and partnerships need to be put together. This is a great opportunity for Boynton Beach to shine. It was noted infrastructure needs to fit in and what type of infrastructure is needed will influence development. As the CRA moves forward, it was recommended a focus group from the community needs to step forward. The focus group would need to consistently and earnestly come before the CRA and indicate what they want to happen which would be forwarded to the City Commission. All parties would need to be on the same page and there are measures that can be undertaken that will make the job a realization. Chair Tillman thanked the Treasure Coast and Metrostudy for their presentation. B. Consideration of Amending the Homebuyers Assistance Program to include a Shared Equity Component Ms. Brooks reported the board approved the Homebuyers Assistance Program for prospective homebuyers within the CRA area, which provides gap financing. She explained the board had made inquiry about equity sharing. Ms. Brooks reported she met with Octavia Sherrod, Community Improvement Director, and developed a proposal where individuals could share in equity. The program would have lower equity during the first five years and increase as the homeowner remained in the home. In some instances, depending on the income of the family, the public subsidy could be quite high, up to $125,000. This would permit wealth building, assist with neighborhood sustainability and encourage longer-term home ownership. It would also protect against the homeowner receiving large windfalls upon sale. Ms. Brooks recommended approval. She explained the last bond that was passed contained a line item of $3M for the program. There is $1 M designated as a pilot program. The program already approved allows for up to $50,000 in assistance. The amount of the difference between the housing prices in the CRA area and the recipient's income, constitutes the gap that needs to be filled. Up to $75,000 has not been enough to close that gap, and these individuals qualify for a market mortgage. 9 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida May 9, 2006 Mr. Reardon explained the bond taken out has an 18-month sunset. If the funds are not expended, they must be returned to debt service or to another project. A marketing program will be prepared for the CRA program. Motion A motion was made by Vice Chair Norem to approve the program. Mr. Myott seconded the motion that unanimously passed. C. Discussion and Recommendations for Approval - Direct Incentive Funding Agreement Ms. Bright reviewed the item and explained she was looking for additional comments and direction from the board. The important issue is the incentive now is not guaranteed and each project must stand-alone and receive board approval. The Direct Incentive Program was separated into the affordable housing incentive and the public annuities program. The scoring portion was removed to allow for board flexibility to determine projects being more or less desirable, depending upon the area in the districts. The program also eliminates the developer being forced to back into the program to secure the incentive. The reporting requirement in the previous incentive package was not pro forma and the agreement would require greater accountability from the developer as it moves forward with the project. The TIF flexibility is changed by not capping it at 45%, and allows the board more flexibility. Affordable housing developers were given the option of either developing units within their projects, or donating monies to the community land trust. Attorney Spillias clarified the numbers in the draft were put in place for discussion purposes only and would be adjusted as the CRA's policies are promulgated. The board expressed the documents can establish some standards and could be reviewed on a case-by-case basis. The board liked the flexibility of the agreement and it was suggested having standards and guidelines in place would avoid the appearance of unfairness. Motion Vice Chair Norem moved to authorize staff to finalize the document to be brought back to the board next month. Ms. Horenburger seconded the motion that unanimously passed. D. Parking Discussion Mr. Myott declared a Conflict of Interest and filed Form 8B, which is attached to the original minutes on file at the Office of the City Clerk. Ms. Brooks indicated staff was directed to review parking concepts used with different projects. Staff is looking for direction in identifying an area for public parking containing about 400 spaces. Parking construction costs, exclusive of land, would be about $35,000. The board discussed taking a broad approach on the issue and suggested determining how many spaces are actually needed in the corridor area. The parking plan needs to be a broad comprehensive plan, which may need an authority. It was recommended looking at the cost and what revenues would be yielded by building the spaces. It was noted the possibility of a $2 fee on rental cars passed the legislature last week with indications being the Governor will sign the bill into law. The Regional Transportation Authority (RTA) board was looking at a local 10 Loan Terms by Fiscal Year • FY 2009-2010: Borrower shall occupy the residence for the term of the first mortgage. If the residence is leased and no longer occupied by the recipient of CRA funds, any and all CRA grant funds given at the time of purchase shall become due and payable in full. Families that receive assistance shall submit proof of residency to the City and CRA annually by the anniversary of the closing date. The accepted form of proof is a utility bill showing the program recipients name and address. Failure to comply will result in the CRA funds becoming due and payable. • FY 2008-2009: Borrower shall occupy the Property as his/her principal residence and, in the event the Property is leased, sub-leased or otherwise devised or assigned to any person or entity during the term of this Loan, then the principal shall become due and payable in full together with interest at four percent (4%) per annum calculated from the time of purchase of the Property. • FY 2009-2010: Upon the sale of the Property at any time during the duration of the first mortgage term, Borrower shall repay the principle amount of this Loan in full to Lender at the time of closing. • FY 2008-2009: Upon the sale of the Property, within the first five (5) years of ownership, Borrower shall pay eighty percent (80%) of the equity in the property (as determined by a fair market value appraisal) to Lender. During years six (6) through twenty (20) of ownership, Borrower shall pay fifty percent (50%) of the equity in the Property to Lender. During years twenty-one (21) through thirty (30), Borrower shall pay fifteen percent (15%) of the equity in the Property to Lender. • In the event of a voluntary sale or foreclosure, Borrower shall provide notice of same to Lender who shall have the right of first refusal to purchase the Property from the Borrower for the fair market value of the Property as determined by a current certified appraisal. Lender shall have forty-five (45) days from the date of receipt of intent to sell with a copy of the proposed contract to determine whether to exercise its right to purchase hereunder by sending written notice to the Borrower (it being understood that Lender's purchase price shall be the lesser of that set forth in said appraisal or proposed contract). Such notice shall reserve thirty (30) additional days for Lender to complete all necessary preparations and close. • FY 2009-2010: Borrower elects to refinance the Property, Borrower shall repay the entire principal balance in full to Lender. • FY 2008-2009: Borrower elects to refinance the Property, Borrower shall repay the entire principal balance in full to Lender, together with interest at four (4%) per annum calculated from the time of purchase of the Property. • Borrower shall perform, comply with and abide by each and every agreement, stipulation, condition and covenant of the Note, the Mortgage and the Homebuyer Assistance Program Agreement executed by Borrower simultaneously herein. • The Note is pre-payable in whole or in part at any time without penalty. v v = o E v - o v 0 OD - y0 c _ 3 w O W W K W N v A O U Q > O T O T p p V w p p p w p p p p p V n c o w a o N 0 O v N 0 0 N O N O O O O N O N N O o o ON =� -Q .�W V m V V V V V V V V y V m N 0 (p O O K K C O K K O K O K K K K O K Z O O Q v o o O O N 0 0 N O N O O O O N O Q N N O u O r m Q w x rc m V m z ,. v v v v v v v v v v v v v v v v v v v v v v v 3 3 E O O o 0 0 0 3 3 0 0 3 0 0 0 0 0 0 0 0 0 0 0 3 0 0 0 3 3 0 0 0 v v v v F o'o 0 2- i, v v � v v a s a v v v v ON r v v v v d ~ ~ ~ 7 7 V N v 7 m v F uo Q o N v r v o o v v v v n rory r v r v r v r v oN Q Q Q vi v vi v '^ `" u a a v v Q r u v v v u u N v vi v = v v N v ,f v ,�_. r v r v u c nmu umr a v o rz r w w v r v r u z r z r z r z v w w w r w r v v z z z uvi uvi 3 z o z m $ ., F N F w F v v N F a o m v z z z z F z F N v o Z z z 1 W t V L z Z v v W m v o a m om0 o N °� n m m N N z z z Z " in z w m w z � a z zz �o v � � m � v w o o o o o o o o o o o o o o o o o o o o o o o o o om .� o o o m m o m m m m m m m m m m m m m o o o o o m m o o 0 o o o m m e m m m m m m m m m m m m m c c c m m m m c c c w c c c d n m m N m m m m m m m v m m m m m vl m m m m o m vl w m o v .� N ry ti N N N N N N ry ry N N N ry N rv � ry N N N N N N rv � ti ry N L J a +n+n +n+n +n+n+n+n +n +n+n+n +n +n +n +n +n+n+n+n +n +n+n+n+n+n +n+n +n+n+n v o o o o o o o o o o o o o o o o o o 'y o 0 0 0 0 0 � ti ti ti ti ti ti 0 0 E c o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o 0 o o o o o o o o o o o o o o o o o o '0 c c c c c c c c c c c c c c 0 0 0 0 c 0 o o O o o 0 o 0 o O o o 0 o o I O o o 0 0 m o o v o I 0 0 o v o o� �0 0 0 a a a a a a s c ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti C 0 0 mo E 0 o o o o o o o o o o o y o o o o o o o o o o o o o o o o o o o o o o o 0 o o c o c o c o c o c o D O N c c o c o 0 0 o m o 0 0 0 0 o vi o 0 o y a a of c +n +n +n +n +n+n+n +n +n +n+n+n 'c v E v v ¢ S z V � O O O O o o o o O o o o O O O O o o o o O 0 0 0 0 0 O 0 0 0 p 0 O O O O o o o o O o o o O O O O o o o o O 0 0 0 0 0 O m o o o _ o O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O E O O O O O O O O O O O O O O O O O O O O O O O O O O O N O O O > O O O O O O O O O O O O O O O O O O O O O O O O O O O O O ¢ n O O T O O O O O O O O O O O O O O O O O O O O O O N vt O O cL C � C � � N N 4 C ¢ 3 `0 0 3 a v E z p Y T c v O C _ o E y Y N '� m- vo T m F m m m Y d O m m c O m - 0 O V Q z C E r > _ O m m `v v O Yy uc0i Y (7 rG m oo O a1' p Z _° r o .� r 3 '° w o 3 v - m v T on m � '� Y a ¢ cv rc E v p o Y r m o x r = a _ o rc Y Z p Y m Jv - Z d J W J V V v m W Y Q -O � Nv E J 0 v 0 o o o o n n n o 0 o o o o ^ o 0 0 0 0 o o o o w w w w o o o o o o m o o o o o o o o o o o o 0 o o o N N o N v v v a v m .� vii �o m m m m a oma- m 2 1 m w m o N N N ry N ry ry ry m om m O O v T n v `o E r ° o o � � m V O Y > 3 ow > 03 0 o o v v v v 0 0'o'o cD cD cD v v „ v v v v v v „ Z Z z z z z o ry m N 0 o o o 0 o o o 0 0 o O ry o I ti ti ti ti o O o O w o o o m r. v. 0 0 d 0 n d N m v. 0 o o o O O o0 O o o 0 o o 0 o o m o o o '^ N V Vf Vf Vf � y N C N O C 01 � ° a 0 o m o m 0 o o o m o 0 0 0 0 O OO O N O O O O O 0 o o o m N 0 0 0 0 0 W O O N 00 O ul O 00 m I� W o o N O v1 v1 O 00O Vf Vhf Vf Vf V N m N N a m m IR ti 0 3 v 3 � r w r N � W � V > W II D CC O [0 � N Z N1 II OK 1 LL N 11 V 0 Z F Z N w m a K O N Z w� O O O O V II Q > V Z Q MMMF FK O K Q O F V Q v v v O N O O O m a .n ai E v v v v v v o u ra ra ra ra ra ra3 3 3 3 O O O O 0 v v v v 0 O O O O O O L L L L O O O ; E 4i$ _. MMM � y G mamBEAC CRA BOARD MEETING OF: November 14, 2017 NEW BUSINESS AGENDA ITEM: XIV.A. SUBJECT: Discussion and Consideration of Changes to the Terms and Conditions for the Homebuyer's Assistance Program Agreement between Lasendra Hoggins Wilson and the CRA SUMMARY: In 2007 the CRA was providing financial assistance (Homebuyer's Assistance Program, HAP) to first time homebuyers in order to provide a sufficient supply of housing for working families since housing prices were extraordinarily high and many families were priced out of the housing market. On March 13, 2007 the CRA Board approved HAP in the amount of $47,000 to Lasendra Noggins (March 13, 2007 Minutes - Attachment 1). Attachment I I is a copy of the HAP Agreement which Ms. Noggins entered into for the purchase of her home located at 508 NW 12th Avenue, Boynton Beach, FL (see Attachment 111). Along with entering into a HAP Agreement, Lasendra Hoggins also executed a Mortgage Deed for GAP Mortgage Assistance which is recorded on the property to ensure the conditions of the HAP Agreement are met and if the property is sold, the CRA may collect all or part of the monetary assistance provided to the first time homebuyer(Recorded Mortgage -Attachment IV). On October 10, 2017, Ms. Noggins requested the CRA Board review the terms of the HAP Agreement and consider waivers and/or changes to the agreement (Attachment V - October 10, 2017 Minutes) in order for her to relocate her family to a more desirable, family oriented neighborhood. Ms. Noggins stated that crime has progressively increased and it is no longer a safe environment to raise her three children. Per the October 10, 2017 CRA Board Meeting CRA Staff ordered an appraisal on the property (Attachment VI) and met with Ms. Noggins on October 25, 2017 to discuss the limitations according to the HAP agreement. Below is a breakdown of the key terms of the agreement: • Grantee must occupy the property as a full time resident. • Grantee may not obtain a line of credit, equity loan, etc. that secures the property without written consent by the CRA. • Grantee may not lease the property. • Grantee must sell the property to an income qualified buyer whose income does not exceed 120% of median household income for Palm Beach County. • If Grantee does any of the above, the full sum of the grant plus 4% interest annum from the date of the agreement shall be due and payable. • Grantee must pay 80% of the equity to the CRA if the property is sold within the first 5 years of ownership. • Grantee must pay 50% of the equity to the CRA if the property is sold within years 6-20 of ownership. • Grantee must pay 15% of the equity to the CRA if the property is sold within years 21-30 of ownership. FISCAL IMPACT: To be determined. CRA P LAN/P ROJ ECT/PROGRAM: 2016 CRA Redevelopment Plan CRAAB RECOMMENDATION: N/A CRA BOARD OPTIONS: 1. Discuss and consider options presented by Homebuyer Assistance Program (HAP) recipient, Lasendra Hoggins. 2. Do not discuss and consider options presented by Homebuyer Assistance Program (HAP) recipient, Lasendra Hoggins. 3. Alternate options as determined by the CRA Board. ATTACHMENTS: Description D Attachment I - March 13, 2007 Minutes D Attachment II - HAP Agreement D Attachment III - Location Map D Attachment IV - Mortgage D Attachment V -October 10, 2017 Minutes D Attachment VI -Appraisal Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida November 14, 2017 restaurant and the developer was constantly overcoming hurdles. Mr. Simon explained the upstairs of the building could not be used, even for storage, and the developer received another round of comments. He advised the architectural firm was responding to the City. Chair Grant noted there was some time went by with no communication. He thought if the developer did not answer the City's comments timely, they should use the reverter clause. Motion Board Member McCray also wanted to table the item and so moved. He announced he would like to receive a copy of the comments. The motion unanimously passed. XIV. New Business A. Discussion and Consideration of Changes to the Terms and Conditions for the Homebuyer's Assistance Program Agreement between Lasendra Hoggins Wilson and the CRA Board Member McCray announced he would make comments after the item was discussed. Lasendra Wilson, 508 NW 12th Avenue, explained she met with CRA staff and they crafted options for the Board to consider. One option was to allow her to rent the home because even if she considered selling the house, she did not know how long it would take to find a buyer. If rented, Ms. Wilson and her family go somewhere else and be safe. Another option is to speak with the CDC to see if they were interested in renting the home or purchasing the home. The last option is to sell the house, and the CRA waive the equity that would have to be returned. Board Member McCray asked how much equity was owed and learned the house appraised at $177,000. Ms. Williams owed the bank $65,000 leaving about $112,000 equity in the home. Chair Grant noted the CRA was entitled to 50% of the equity; however, Ms. Wilson would also have to pay back the amount of down payment assistance the CRA gave her, which was $47,000. Mr. Simon explained the document terms do not discuss payback of the amount of assistance that was provided to Mr. Wilson; only the equity. The program changed each year in philosophies and the amount of subsidies given increased and decreased and the terms and conditions of the grant were adjusted. In this case, there was a concern of limiting equity as part of an artificial benefit by providing assistance. The document tried to protect equity. If the Board wanted to remove the subsidy given by the CRA in addition to what she owed the bank, the CRA would split a different amount. Chair Grant thought the CRA should not recapture more money from the equity than the $47,000 subsidy given by the CRA. He noted Ms. Wilson would still be responsible for the mortgage and maintenance and was fine with Ms. Wilson using the property as an income producing property. 20 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida November 14, 2017 Board Member McCray explained he had Incident Reports from the Police in the vicinity of the Cherry Hills Mini Mart, the old grey building which is a two-story structure noting there were numerous police calls to locations surrounding Ms. Wilson's property. He thought it was difficult for anyone to live under these kinds of conditions and she wants to move her family somewhere else that is safer. Chair Grant proposed Ms. Wilson rent the property and change the contract to recapture equity up to $47,000 because if she sells the house for $80,000 and the CRA required $47,000, the CRA would receive more than 50% of the equity. Ms. Wilson advised the Board's proposal as stated by Chair Grant was acceptable. Mr. Simon asked if there was a time limit to lease until sold noting in year 2021, the amount of equity payback is reduced to 15%. Attorney Duhy advised she will add a sentence to the contract that in no instance shall the CRA collect more than 47% in equity return. Brian Fitzpatrick, 409 NE 1St Street, commended Ms. Wilson for surviving at the location as there is crime all around her. He had previously written emails to the City Commission about 504 NW 12th Avenue. It is vacant and a drug haven and he sought to have the home demolished. He was glad the Board was assisting her, and noted there are already two drug houses in that area. His concern was someone could rent the house as a third drug house as certain people look for people to set up shop. He proposed the home be used for the Neighborhood Officer Program. Chair Grant commented if used as a drug house, it was subject to forfeiture and the landlord would not allow it. She would monitor the property. Mr. Simon explained the Neighborhood Officer Program location was contemplated to be located in the Ocean Breeze East site. Mr. Fitzpatrick commented Ocean Breeze East is years away and more police are needed in Cherry Hill to combat drug activities. Board Member McCray advised it was not that more police were needed, they do not need drugs in Cherry Hill. Board Member Romelus thought it was a conundrum to take one family out of the predicament and put another one in. She thought other alternatives were needed. Mr. Fitzpatrick thought it would be a hard property to market. Board Member Romelus requested confirmation Mr. Fitzpatrick favored the CRA purchase Ms. Wilson's property and thought the CRA should ask the City to start the nuisance abatement on the other property. Motion Attorney Duhy explained a motion to approve amending the contract to allow rental on the property and to cap the equity the CRA receives under any scenario to no more than $47K property on the sale of the property. Board Member Romelus so moved. Board Member McCray seconded the motion that unanimously passed. 21 B'QYNTO, � 11 wsssm .i, CRA BOARD MEETING OF: December 12, 2017 OLD BUSINESS AGENDAITEM: 13.13. SUBJECT: Discussion and Consideration of Changes to the Terms and Conditions for the Homebuyer Assistance Program Agreement between Lasendra Hoggins Wilson and the CRA SUMMARY: On October 10, 2017, as part of the Public Comments portion of the agenda, Ms. Noggins requested the CRA Board review to the terms of her Homebuyer Assistance Program (HAP) Agreement and consider waivers and/or changes to the agreement in order for her to relocate her family to a more desirable, family oriented neighborhood (see Attachment I - October 10, 2017 minutes) . On November 14, 2017, CRA staff presented the existing terms of Ms. Noggins' HAP Agreement to the CRA Board (see Attachment 11 - November 14, 2017 minutes). The CRA Board agreed to amend the agreement to allow the option of renting the property and capping the equity the CRA receives from the property at $47,000 should the property be sold to a income qualified buyer (a family whose income does not exceed 120% of median household income for Palm Beach County) in the future. The Amended and Restated HAP Boynton Beach Community Redevelopment Agency Homebuyer Assistance Program Agreement with Ms. Noggins is attached for Board review and approval (see Attachment 111). FISCAL IMPACT: N/A CRA PLAN/PROJ ECT/PROGRAM: 2016 CRA Redevelopment Plan CRAAB RECOMMENDATION: N/A CRA BOARD OPTIONS: 1. Approve the Amended and Restated Boynton Beach Community Redevelopment Agency Home buyerAssistance Program Agreement. 2. Do not approve the Amended and Restated Boynton Beach Community Redevelopment Agency Homebuyer Assistance Program Agreement. 3. Alternate options as determined by the CRA Board. ATTACHMENTS: Description D Attachment I -October 10, 2017 Minutes D Attachment II - November 14, 2017 Minutes D Attachment III -Amended and Restated Boynton Beach CRA Homebuyer Assistance Program Agreement with Lasendra Hoggins l Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida December 12, 2017 Board Member McCray asked if these funds could also assist Casa Costa. Staff agreed to discuss the program with him. Motion Board Member Romelus moved to approve the remainder of the Consent Agenda. Board Member McCray seconded the motion that unanimously passed. 12. Public Hearing None. 13. Old Business A. Financial Report Period Ending November 30, 2017 Vicki Hill, Finance Director, announced the CRA is right on budget with their financials. The accounting should be complete for the fiscal year and an audit brought to the Board some time in February. B. Discussion and Consideration of Changes to the Terms and Conditions for the Homebuyer Assistance Program Agreement between Lasendra Hoggins Wilson and the CRA Mr. Simon explained on October 10th, Ms. Noggins Wilson discussed her home and the restrictions on resale or leasing under the Housing Assistance Program (HAP) grant. A follow up discussion took place at the November 14th CRA meeting and the Board moved to amend the existing agreement to allow her the option to rent and still cap the equity at $47,000 should the property be sold. The Board allowed the stipulation to transfer or rent the property to another income eligible individual or family. The attachment was a legally prepared amendment to the agreement and a motion was needed. Board Member McCray commented since Ms. Noggins Wilson appeared, there was another homicide and he inquired if the Board would apprise individuals what type of area the home would be and learned it was up to Ms. Noggins Wilson to disclose the information. Board Member Romelus took issue with the item because it is a situation where another family will knowingly or unknowingly move into the situation Ms. Wilson was leaving and it was troubling. Board Member Casello advised he was not present at the second meeting. He thought it was a slippery slope and all the HAP recipients should have the same benefit as this owner. 7 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida December 12, 2017 Ms. Hoggins Wilson could turn the property into a rental property and when she first appeared, his heart went out to her. He commented money was an issue. Ms. Hoggins Wilson will be in charge of the building and he asked what experience she had in being a landlord and there are other homes in the area that are known drug houses. He thought the Board had not solved any of the issues that plaque the neighborhood and wanted a report from the Chief how to address the matter. He thought the Board should have taken a harder stance. There are three officers in the Heart of Boynton and he favored using the house as the station for the Neighborhood Police Office Proaram. Lashendra Hoggins Wilson agreed her moving out of the neighborhood does not solve the problem and the area needs a lot more than just her standing before the Board. She did raise the concern of having another family move into the home and it was addressed in a private meeting. It would have to be something with a prior meeting, a last minute thing or someone with no small children. She would not apprise prospective renters of the shootings, but there were other options on the table that they still have to review. The first step was to get her and her family to safety. She acknowledged there was another homicide four homes away from�� her. As far as experience being a landlord, she had certifications from the Urban League of West Palm and Broward County. Her concern is if she does not rent out the home, she is the one who is stuck trying to manage a mortgage and a rental property. She was not pushing the issue. She just wanted to know the option is there so she can get her game plan together. Ms. Noggins Wilson was not aware of any other HAP recipient that verbally expressed a concern about their neighborhood except her and she put it in writing to the Board. If there are other families that want to follow suit, they should speak up. She was very concerned about getting out of the neighborhood and adhering to the guidelines. She agreed the City and the Police Department have to get involved. Board Member Casello was concerned she would financially be unable to manage two homes and asked what could be done to help abate the problem in the area. He contended a police presence or a plan is necessary. Chair Grant suggested knocking on doors and asking residents what they want. Board Member Casello commented he would not knock on doors in Cherry Hill, but would attend a special meeting to gather neighborhood input. Chair Grant thanked Ms. Hoggins Wilson for coming forward and having a plan. He thought the issue was more of a business decision to give her more opportunities to have ownership of her home. The same courtesy will extend to others. Board Member Romelus thanked Ms. Hoggins Wilson for coming forward and advised she did not want to see the situation repeated. 8 i Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida December 12, 2017 Motion Board Member Romelus moved to approve. Board Member McCray commented the Board is supposed to ask questions. He applauded Board Member Casello for asking questions. As Commissioner for District 11, he advised the Board is aware of the problems in the Cherry Hill area and the Police Department addressed the issue. There is a Cherry Hill he did not know about. There is also a Minister's Coalition in Boynton Beach who is also working to address the problem. When they need to dialogue with the Police Chief, they do. Ms. Hoggins Wilson thanked the Board and requested if there is a meeting, they let her know and she will spread the word. Brian Fitzpatrick, 409 NE 1St Street, thanked Board Member Casello for his comments. He noted Board Member Casello was not present at the last meeting and advised Cherry Hill was desperate for a full-time police presence and the issue has been ongoing for 10 years. One little Cherry Hill Operation is meaningless unless followed up with a consistent effort behind it to stop the drugs. He noted many of the individuals previously arrested were back at the MLK Quick Stop, Cherry Hill Mini- Market, Rainbow City Groceries or the Quick Mart. He thought the Board was opening a can of worms by changing the contract, but agreed allowing the woman to move to a safe haven was appropriate. He thought the matter should have been addressed years ago. He suggested the home be used for a police substation and the area needs a police presence. Board Member McCray explained at one time there was a police substation in Cherry Hill with Palm Beach County Housing Authority and it was almost useless Board Member McCray seconded the motion that unanimously passed. C. Consideration of the Facility Rules and Regulations for the Historic Woman's Club of Boynton Beach Located at 1010 S. Federal Highway Thuy Shutt, Assistant CRA Director, explained on November 14th, the Board approved renaming the Boynton Woman's Club to the Historic Woman's Club of Boynton Beach and staff established rental rates. Three non-profits historically used the facility for meetings and their annual fundraisers. Staff had intended to present the Board with a standard rental agreement, but since staff had to do more work on it for the three non- profits that use the building and the different terms of the rental agreement, it was better to present four or five of the agreements at the next meeting to prevent confusion with the various drafts. Staff was working with the Board Attorney. The cover page updated Attachment 2, which was the draft rules and regulations for the facility. The drafts have to 9 BOYNTON 'CR- .t, CRA BOARD M EETING OF: February 13, 2018 OLD BUSINESS AGENDAITEM: 13.C. SUBJECT: Discussion and Consideration of Subordination of the CRA Homebuyer Assistance Program Mortgage between Lasendra Hoggins Wilson and the CRA SUMMARY: On October 10, 2017, as part of the Public Comments portion of the agenda, Ms. Noggins requested the CRA Board to review the terms of her Homebuyer Assistance Program (HAP) Agreement and consider waivers and/or changes to the agreement in order for her to relocate her family to a more desirable, family oriented neighborhood (Attachment 1) . On November 14, 2017, CRA staff presented the existing terms of Ms. Noggins' HAP Agreement to the CRA Board (Attachment 11). The CRA Board agreed to amend the agreement to allow the option of renting the property and capping the equity the CRA receives from the property at $47,000 should the property be sold to an income qualified buyer (a family whose income does not exceed 120% of median household income for Palm Beach County) in the future. An Amended and Restated HAP Boynton Beach Community Redevelopment Agency Homebuyer Assistance Program Agreement was approved and executed by the CRA Board and Ms. Noggins on December 12, 2017 (Attachment 111). Meeting minutes of the December 12, 2017 Board meeting are also attached (Attachment IV). Ms. Noggins is requesting the CRA Board approve subordination of its mortgage in order for her to refinance the property. The refinancing will allow her to make necessary improvements such as flooring, landscaping and general repairs in order to rent the property. CRA P LAN/P ROJ ECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: 1. Approve the subordination of the CRA HAP Mortgage for the refinancing of the property, direct staff to work with CRA legal counsel on the subordination documents, and authorize Chair Grant to execute the documents on the Board's behalf. 2. Do not approve the subordination of the CRA HAP Mortgage for the refinancing of the property for improvements. 3. Alternate options as determined by the CRA Board. ATTACHMENTS: Description D Attachment I -October 10, 2017 Minutes D Attachment II - November 14, 2017 M inutes D Attachment III -Amended and Restated Boynton Beach CRA Homebuyer Assistance Program Agreement with Lasendra Hoggins D Attachment IV - December 12, 2017 Minutes Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida February 13, 2018 C. Discussion and Consideration of Subordination of the CRA Homebuyer Assistance Program Mortgage between Lasendra Hoggins Wilson and the CRA Mr. Simon explained the item pertains to the grant agreement and promissory note and mortgage that the CRA Board will provide for a re-subordination, in the event Ms. Wilson refinances for a lower interest rate or other acceptable term. She was requesting approval to resubordinate only at this time. This would allow the new loan to stand in front of the CRA's grant and the Bank to have re-subordination approval prior to closing. If a signature is needed, Ms. Wilson agreed to provide the documents for signature. Board Member Casello asked how many other properties participated in the Homebuyer's Assistance Program (HAP). Mr. Simon responded in three to four years, there were 35 to 40 HAP recipients and some foreclosed due to the downturn in the market. He explained a small percentage of the recipients experienced foreclosure or returned to the CRA because there were issues such as those that surfaced regarding the Preserve. He advised the CRA no longer offers the program. Motion Board Member Romelus moved to approve. Board Member McCray seconded the motion that unanimously passed. D. Consideration of Pathways to Prosperity's Grant Application for the Boynton Beach CRA Non-Profit Organization Grant Program Thuy Shutt, Assistant CRA Director, explained on September 27th, the Board approved starting the program for the new fiscal year, specifically for economic and business development categories which support non-profits with projects and programs that create jobs in the CRA in furtherance of the CRA plan. The Notice of Funding was published both in print and digital formats. Flyers were created in three different languages and two pre-submission workshops were held: one in October and the other in November. Three non-profit organizations attended and staff reached out to other organizations in the CRA District. The three non-profits have programs and/or business locations within the CRA District. On December 1 st, Pathway to Prosperity (P2P) submitted for their Circles of the Palm Beach program. The application was included in the meeting materials and gave details of the application and the program, which was a more holistic approach to address poverty via financial literacy, education and training, increased educational skills, job training, and homeownership. Several results were indicated in their application where there were participants wanting to own their own businesses and some of those participants already had home-based businesses. The application indicated they would like to create a full-time Incubator Coordinator position with the grant funding. P2P sought 45%of the requested funds for the Coordinator's salary, which is about$25K. The request is within the 10% allotted for the program and the maximum allowed was $32K. Two funding evaluation committee meetings were held on December 19, 2017, and January 16, 2018, which included a presentation from the applicant to the Committee. The 6 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida February 13, 2018 Board Member Romelus asked if the Board recently issue an RFP for MLK. Mr. Simon explained not since the failed response from NuRock. Board Member McCray pointed out one person wanted a pool hall on MLK Jr. Boulevard, and cautioned if one is opened, the Board was inviting problems. Vice Chair Katz agreed the focus of the discussion should be about commercial or retail, not very specific businesses. The area has to walk before it runs and the CRA cannot dictate what businesses will locate to the area. Board Member McCray suggested sticking with a mixed-use RFP and bring it back to the Board. Information will be presented at the March meeting regarding the MLK corridor to fine tune points in the RFP for the April CRA Advisory Board Meeting. Board Member Romelus requested including language in the RFP indicating there will be a community partnership and working with local business to incorporate them into what is newly constructed. She wanted to ensure the CRA encourages prosperity and growth along MLK and allowing for businesses currently there to be viable. Mr. Simon indicated there was a request from Ms. Hoggins to revisit item XIII C for comments from her. Lashendra Hoggins Wilson, 508 NW 12th Avenue, explained she was not present for the approval of the item earlier in the meeting, but she wanted clarification on what was approved. It was explained the subordination was approved so she now had the ability to refinance. She asked if the approval was for remodeling or cash out to pay down debt because there are specifics in the contract. Chair Grant explained the Board did not have any specifics regarding the subordination. The CRAs position will be behind the new loan that could be used for whatever funds she could get from the equity she had. Ms. Wilson explained there was an offer regarding the possibility of a write off or buy out of the CRA contract. She was unsure it was still under discussion. Chair Grant explained if Ms. Wilson wanted to make an offer, the Board would listen. She was still speaking with the lender and they questioned what the amount was. Chair Grant recalled the CRA was entitled to 50% of the equity, up to $47,000. He asked if the Board was willing to accept a sum less than $47,000 so she could own her home free and clear with one mortgage instead of two. Ms. Wilson was certain the bank would not give her the $47,000. Chair Grant explained the Board would review any reasonable offer.. 15. CRA Advisory Board A. Approval of CRA Advisory Board Meeting Minutes - January 4, 2018 B. Pending Assignments 1. None C. Reports on Pending Assignments 1. None 19 BOYNTON 'CR- .t, CRA BOARD MEETING OF: March 13, 2018 OLD BUSINESS AGENDAITEM: 13.C. SUBJECT: Discussion and Consideration of Payoff of CRA Homebuyer Assistance Program Mortgage between Lasendra Hoggins Wilson and the CRA SUMMARY: On October 10, 2017, as part of the Public Comments portion of the agenda, Ms. Noggins requested the CRA Board to review the terms of her Homebuyer Assistance Program (HAP) Agreement and consider waivers and/or changes to the agreement in order for her to relocate her family to a more desirable, family oriented neighborhood (Attachment 1) . On November 14, 2017, CRA staff presented the existing terms of Ms. Hoggins's HAP Agreement to the CRA Board (Attachment 11). The CRA Board agreed to amend the agreement to allow the option of renting the property and capping the equity the CRA receives from the property at $47,000 should the property be sold to an income qualified buyer (a family whose income does not exceed 120% of median household income for Palm Beach County) in the future. An Amended and Restated HAP Boynton Beach Community Redevelopment Agency Homebuyer Assistance Program Agreement was approved and executed by the CRA Board and Ms. Noggins on December 12, 2017 (Attachment 111). Meeting minutes of the December 12, 2017 Board meeting are also attached (Attachment IV). On February 13, 2018, the CRA Board approved the subordination of its mortgage in order for Ms. Noggins to refinance the property. The refinancing will allow the necessary improvements such as flooring, landscaping and general repairs in order to rent the property. At the February 13, 2018, CRA Board meeting Ms. Noggins made a request to the CRA Board if they would be agreeable to accepting a reduced amount to payoff of the CRA HAP mortgage. The CRA Board advised her to come back with a reasonable offer(see Attachment V). As a result of the refinancing breakdown from the lender, Ms. Noggins is offering the CRA $5,000 as the financial consideration to satisfy and release the existing $47,000 HAP Mortgage (see Attachment V I). FISCAL IMPACT: To be determined by the Board CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: 1. Approve the payoff of the CRA HAP Mortgage in the amount of$5,000. 2. Do not approve the payoff of the CRA HAP Mortgage in the amount of $5,000. 3. Alternate options and or payoff offers as determined by the CRA Board. ATTACHMENTS: Description D Attachment I -October 10, 2017 Minutes D Attachment II - November 14, 2017 M inutes D Attachment III - Excuted Amended and Restated HAP Agreement D Attachment IV - December 12, 2017 Minutes D Attachment V - February 13, 2018 Minutes D Attachment VI - Request from Lasendra Hoggins Meeting Minutes Community Redevelopment Agency Board Boynton each, Florida March 13, 2018 Board Member McCray moved to approve an extension by the first meeting in May, Board Member Casello seconded the motion that unanimously passed. C. Discussion and Consideration of Payoff of CRA Homebuyer Assistance Program Mortgage between Lasendra Hoggins Wilson and the CRA Mr. Simon explained at the February 13th CRA meeting, the Board supported a request to subordinate a CRA second mortgage of $47,000 which equated to the initial amount given through the Housing Assistance Program (HAP). At the end of the meeting, Ms. Hoggins Wilson approached the Board with a request to negotiate a reduction in the amount of the CRA second mortgage to an amount to be brought back to the CRA. The request does not change the Board's original motion of subordination of a refinance. Lesendra Hoggins Wilson, 508 NW 12th Avenue, wanted to discuss an option suggested by her bank, which she presented to the Board via email. She also included a copy of the 1003 application showing the amount she would get back, what would be paid off in the refinance and what she would have available. Ms. Hoggins Wilson explained her refinance included everything and she would get back $8,000 of which she offered to give the CRA $5,000. The total amount to get out was between $10,000 and $12,000. She advised she received a letter from the Florida's Hardest Hit program indicating as of April 1 st, she will have a third lien for $3,500 after the program conducted a title search. She would receive no funds from a refinance, but she wanted to still move forward. Ms. Hoggins Wilson explained the Hardest Hit program assists the homeowner when their pay decreases by 10%, a homeowner loses their job or has their hours reduced, by paying the mortgage for a specific period of time and the homeowner does not have to make the payments. The program also imposes a silent lien on the property which is forgiven after so many years. This occurred in 2007 or 2003. So far she was been forgiven $7,000 or $8,000. She spoke to them earlier in the day requesting an actual payoff amount and she should have something by Friday. Board Member McCray requested confirmation Ms. Hoggins Wilson would clear $8,000. Ms. Hoggins Wilson responded if all went though and they waited until April 1St regarding the third lien of $3,500 because the loan is forgiven each year on March 31st, therefore she could only close on or after April 1st, otherwise she would owe them $7,000. He asked about the Board accepting $4,000 and Ms. Hoggins Wilson receiving $4,000. She did not know if the opportunity would come again. She explained even though the documents show the obligation is a silent second, they are still counting the $23,500 as debt going against her loan to value. It would not matter if she paid the CRA off or not, they would still count the amount as debt. She explained if she has something in writing stating she was going to pay the CRA debt off, she would be relieved of$23,500. It does not change how much money she would receive, it only allows her to pay the loan back to the bank. 9 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida March 13, 2018 Board Member Casello recalled the home was not Ms. Hoggins Wilson's primary residence and she was improving the home to rent. Ms. Hoggins Wilson responded the goal was to refinance the property, get money out to improve the home, which would total about $8,000; however, being that was not what she would receive, she will have to wait longer to put the house on the market. Board Member Casello summarized the HAP program gave her$47,000 six years ago, they approved allowing her to refinance and at the last meeting approved Ms. Hoggins Wilson renting the property if desired. Ms. Hoggins Wilson agreed. She was now before the Board offering $5,000 on the $23,500, which is left. Ms. Hoggins Wilson explained she signed on the house in 2005. Prior to that, the CRA HAP program forgave the loan at 10% each year depending on the loan amount and after 10 years, it was paid. The year she signed for her home, because it took two years to build, she signed a different contract, and the home was no longer paid off in 10 years. She was forgiven in tiers and she is at the 50% tier because she was in the home for 10 years. Mr. Simon explained there is no forgiving the $47,000. The Board negotiated an amendment at the last meeting to allow Ms. Hoggins Wilson to rent the building and the Board would accept no more than the $47,000 if she sold the property. The 50% split was a split on the equity earned after the $47,000 and her first mortgage would be paid. She owes the CRA $47,000. She is offering $5,000. Over the course of the HAP, there were various iterations of the grant. Some offered a 10-year reduction per year. Others had a 30-year reduction in tiers. Some grants stayed full to the end and some reduced over 20 years at every five or 10 year block. The amount in question was $47,000. Ms. Hoggins Wilson agreed. Board Member McCray requested confirmation Ms. Hoggins Wilson was requesting to move from the location due to crime in the area. She still wants to offer something. He thought the Board should be lenient and forgive the loan. Mr. Simon clarified for Vice Chair Katz if the Board agrees to the request, the payoff to the CRA at closing of her refinance would be $5,000 and the Board would have to execute a satisfaction, which would resolve her relationship with the CRA. Vice Chair Katz noted the Board already made several accommodations to the original agreement. If the Board was going to reduce the amount to $5,000, they may as well reduce it to zero. The CRA sympathized with the situation, but when the item was heard, there was concern it would set a precedent. He thought by reducing the loan by $42,000 after they amended the agreement to allow her to vacate the property and use it for income, they would wind up giving everything away that recipients ask for. Board Member Romelus inquired when the amount would be paid off and about the protocol to do so. Mr. Simon explained if she sold the property the next day for her first mortgage amount of$64,000 and the $47,000, totaling just over$100,000, the CRA would receive the $47,000 and the first mortgage would be paid off. Any amount over that 10 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida March 13, 2018 would go to Ms. Hoggins. She asked if the funds would be recouped only at the time of sale. Chair Grant noted section 6 specified she could sell to another income-qualified buyer. The grants or share in the equity can never exceed $47,000. He did not think the Board was double dipping requesting the $47,000. Ms. Hoggins Wilson clarified those provisions applied if she sold the home. The contract was written so people would stay in the neighborhood and be able to afford houses in the Heart of Boynton. If she sold the house, the CRA would get a portion of the sale up to $47,000. Chair Grant commented if she refinances the house, the CRA is entitled to 4% interest plus the full $47,000. The new amendment specified the monies would be due if she sold or refinanced the home. Vice Chair Katz asked if it was her intention to rent the house and learned it was. Chair Grant noted the amendment language indicated it would apply if she refinanced or sold the home. Chair Grant was fine with refinancing and the Board receiving 50% of the equity. Ms. Hoggins Wilson commented the refinance subordination was already agreed on. She was offering to be bought out of the contract. At the point in time when the suggestion was made, she did not know what it meant as she appeared for a different reason. Now that she has all her documents and she knows what she could offer, she was told to come up with a figure, which was what she was presenting. She cannot move forward unless $23,500 is paid and she has not refinanced the home. Any refinance would be subordinated, but the home would be considered paid off. She was attempting to refinance the property with conditions and the bank performed an appraisal as did the CRA. Further lengthy dialogue ensued about Ms. Hoggins Wilson's options and the contract wording. Mr. Simon explained the offer to the Board of $5,000 is unacceptable. If her offer was accepted and if they were negotiating a higher number that was agreed on, until they vote, there is a negotiation stalemate. She asked if the Board would counter her offer. Chair Grant said 50% of equity not to exceed $47,000 was the counter offer. Board Member Romelus asked what the equity in the home was. The house appraised at $177,000. The first mortgage is $64,916. There was $113,000 in equity and the only other encumbrance was only if she had a refinance cash out, which would not affect what was before the Board. Fifty-six thousand dollars would be 50% of the equity and the amount the Board would take was still $47,000. Board Member Romelus commented Ms. Hoggins Wilson was asking if the Board was willing to accept an amount below $47,000, if the Board was willing to entertain the discussion, which Board Member Romelus commented she was. 11 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida March 13, 2018 Motion Board Member Romelus would be comfortable with $15,000 for the $47,000 they gave since the new contract changed the forgiveness rate. Board Member Casello wanted to see the official appraisal before he voted. The appraisal was attached to the agenda from the prior meeting. Board Member Casello asked if the Board could table the item until they come up with a percentage. Vice Chair Katz agreed. Motion Board Member Casello moved to table the item for further discussion. Vice Chair Katz seconded the motion that passed 3-2 (Board Members Romelus and McCray dissenting.) The item was tabled to the next meeting. The members will receive all the information from Mr. Simon at their one—on-one meetings regarding the amendment, original contract, the appraisal, and how to help. Board Member Romelus agreed the information should be discussed at their individual meetings as she had no information and wants to move forward. C. Project Update 211 E. Ocean Avenue At the last meeting, the Board considered, due to a lack of activity, issuing a Notice of Default and Demand Letter to have the deed for the property returned to the CRA under the terms of the reverter agreement. The letter was issued, however, 30 days has not passed so no action needs to be taken at this time. There will be a special meeting held March 20th and the Board could take further action to effectuate the clause then. As a result of the letter, Tom Carney contacted Attorney Duhy and Attorney Ken Dodge and Mr. Simon to explain their feelings they are not in breach of agreement. They explained they cannot change course on behalf of the Board and in order to stop the reverter process, they would have to appear. They are present at the meeting and they had advised they were prosecuting their application with due diligence. Tom Carney, 15 SE 5th Avenue in Delray Beach, Attorney for Florida Shovel Ready Project, was present due to the letter regarding the reverter clause for 211 E. Ocean property. He thought there was a lot of confusion as they have been proceeding diligently and already have $400,000 invested in the project. Steve Labov from Shovel Ready will explain the process. Steven Hankin, Counsel in New Jersey and the proposed operator of the restaurant, Tim Gagliano, owner of Osteria Salina in Delray, were present. Steve Labov, CEO of Shovel Ready Managing Member, 630 N. 3rd Street, Philadelphia also having an office in Delray Beach, explained he believes they have been diligently proceeding with the project. They submitted a building permit in accordance with their agreement. Subsequently, questions came back, which they answered. New questions were raised which were also answered. Between each of those questions, additions were 12 BOYNTON 'CR- .t, CRA BOARD MEETING OF: April 10, 2018 OLD BUSINESS AGENDAITEM: 13.A. SUBJECT: Discussion and Consideration of Payoff of CRA Homebuyer Assistance Program Mortgage between Lasendra Hoggins Wilson and the CRA SUMMARY: On October 10, 2017, as part of the Public Comments portion of the agenda, Ms. Noggins requested the CRA Board to review the terms of her Homebuyer Assistance Program (HAP) Agreement and consider waivers and/or changes to the agreement in order for her to relocate her family to a more desirable, family oriented neighborhood (Attachment 1). On November 14, 2017, CRA staff presented the existing terms of Ms. Hoggins's HAP Agreement to the CRA Board (Attachment 11). The CRA Board agreed to amend the agreement to allow the option of renting the property and capping the equity the CRA receives from the property at $47,000 should the property be sold to an income qualified buyer (a family whose income does not exceed 120% of median household income for Palm Beach County) in the future. An Amended and Restated HAP Boynton Beach Community Redevelopment Agency Homebuyer Assistance Program Agreement was approved and executed by the CRA Board and Ms. Noggins on December 12, 2017 (Attachment 111). Meeting minutes of the December 12, 2017 Board meeting are also attached (Attachment IV). On February 13, 2018, the CRA Board approved the subordination of its mortgage in order for Ms. Noggins to refinance the property. The refinancing will allow the necessary improvements such as flooring, landscaping, and general repairs in order to rent the property. Additionally, Ms. Noggins made a request to the CRA Board if they would be agreeable to accepting a reduced amount to payoff the CRA HAP mortgage. The CRA Board advised her to come back with a reasonable offer (see Attachment V). Based on the refinancing breakdown from the lender, Ms. Noggins is offering the CRA $5,000 as the financial consideration to satisfy and release the existing $47,000 HAP silent Second Mortgage (see Attachment VI). FISCAL IMPACT: To be determined by the Board CRA P LAN/P ROJ ECT/P ROG RAM: 2016 Boynton Beach Community Redevelopment Plan CRAAB RECOMMENDATION: N/A CRA BOARD OPTIONS: To be determined based on discussion and consideration by the CRA Board. ATTACHMENTS: Description D Attachment I -October 10, 2017 Minutes D Attachment II - November 14, 2017 M inutes D Attachment III - Excuted Amended and Restated HAP Agreement D Attachment IV - December 12, 2017 Minutes D Attachment V - February 13, 2018 Minutes D Attachment VI - Request from Lasendra Hoggins Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 10, 2018 Board Member McCray congratulated the CRA Staff on the CRA Annual Report, it was a job well done, colorful, eye catching, and good for distribution. 10. Consent Agenda A. Financial Report Period Ending March 31, 2018 B. Monthly Purchase Orders C. Approval of CRA Board Special Meeting Minutes - March 13, 2018 11. Pulled Consent Agenda Items None. Motion Board Member Katz moved to approve. Board Member McCray seconded the motion that unanimously passed. 12. Public Hearing 13. Old Business A. Discussion and Consideration of Payoff of CRA Homebuyer Assistance Program Mortgage between Lasendra Hoggins Wilson and the CRA (Tabled 3113/18) Motion Board Member Casello moved to remove from the table. Board Member McCray seconded the motion that unanimously passed. Board Member McCray asked what the CRA was legally bound to regarding this item. He wanted to know where the item was headed as the owner appeared before the Board several times Kathryn Rossmell, Board Counsel, responded that presently the CRA agreed to subordinate its interest in her property to a refinancing and the CRA agreed to allow her to refinance. The question is whether the CRA wants to reduce the amount she owes, but there is no legal obligation to do so. If Ms. Hoggins Wilson refinances, per her contract, she would owe $47,000 and possibly some interest. The requirement for Ms. Hoggins Wilson to repay the CRA was already in the agreement. Attorney Rossmell pointed out since Ms. Hoggins Wilson was in the home for a number of years, and depending on whether she sells to an income qualified buyer or a non-income qualified 4 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 10, 2018 buyer, the amount may be reduced depending on the circumstances as there are stipulations for individuals living in the home for a certain amount of time, the amount decreases. Board Member McCray asked if the CRA would have any input regarding any new owner or if the CRA would rely on what Ms. Noggins Wilson is doing. Attorney Rossmell responded the CRA can evaluate the income and criteria of the potential buyer pursuant to the grant. Staff could only conduct an evaluation of whether the buyer was qualified to keep the grant. The grant would remain in place. The offer to the CRA was $5,000 in lieu of the $47,000. Ms. Lasendra Hoggins Wilson, 508 NW 12th Avenue hoped all received her information and gained a better understanding of her offer. She still had the same offer, but at the last meeting, the Board made suggestions and she wanted to know what their thoughts were. Board Member Casello was upset about her definition of a grant she felt like it was a loan, contending it could be waived. Board Member Casello explained every grant has stipulations as it is taxpayer money and pointed out her request was to forgive up to $42,000. Board Member Casello felt the CRA should not be in a position to forgive the grant since it was taxpayer dollars. The Board agreed Ms. Noggins Wilson could refinance or rent the property. He suggested when she obtained funds from the refinance, she invest it back into the property to improve its future value and recoup all the funds. Ms. Hoggins Wilson explained she was referring to how the grant was originally written as the grants were forgiven after a certain amount of time and the recipient was allowed to be released from the contract. She understood grants have stipulations, but the one she has will always involve the CRA whether she walks away from the property or stays. Either way, it is a loss for both parties. She was trying to do the right thing by asking permission to return the property with no strings attached. If the CRA does not agree to it, the CRA is still a part of the property. At one point, she was concerned it would set a precedent, but people have already walked away and short sold. The CRA did not get out of the deal what was put into it and she did not think her request was unreasonable. Board Member McCray asked how long the grant was for and learned it was for 30 years. Ms. Hoggins Wilson has lived in the home for 11 years. He commented when the Board accepted short sales, it opened a window. He did not want to open another window. Chair Grant had reviewed the amendment and if Ms. Hoggins Wilson sold between year 6 and 20, the CRA gets 50% of equity if she sold to a family that exceeded the medium household income. He explained the Board would not know what they will do it they take the $5,000 buyout, and she could sell it to someone who is not a qualified buyer and make a windfall. Ms. Hoggins Wilson inquired if the Board was genuinely concerned about who moves into the neighborhood and what they do. It would be great if she would find a buyer, but 5 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 10, 2018 she did not think she would with the activities that are occurring in the neighborhood and that was why she did not attempt to sell the home. When she was speaking to various organizations, the home could be used by individuals or families to get situated or for displaced families that do not have anything right now. It appeared to her the CRA wanted to have a part in it, and if so, why make the offer if the CRA would not entertain it. Chair Grant asked what the CRA would get if she sold to an income qualified buyer, noting clause six only says if she sells to a non-income qualified buyer. Attorney Rossmell explained generally income qualified is below the median income and the section was out of sync. Chair Grant commented the CRA defines an income-qualified buyer as a family whose income exceeds 120% of median household income. If Ms. Hoggins Wilson sells to a non-income qualified buyer, they are not subject to any repayment on the grant. Attorney Rossmell agreed and commented it may be a scrivener's error. Section 5A, defined a non-income qualified buyer whose income exceeds 120% or refinances, the full sum is due back. There was ambiguity in the amendment. Based on the rest of the contract, it appeared Section 6 contained a scriverner's error. The only logical way to read it, was it should be if income is less than 120%. It would have to be corrected. Section 5A was that ruling paragraph that governed the sale to a non-income qualified buyer or a refinance. A refinance indicates the full sum of the grant plus 4% interest is due. During the refinance, Chair Grant asked if the Board could accept something less than the amount owed plus the 4%. Attorney Rossmell explained the Board could take any sum less than as the language acts as a cap. Vice Chair Romelus thought a decision should be made and any precedent should be unanimous for Ms. Hoggins Wilson and other grant recipient. Ms. Hoggins Wilson wants to refinance the property, get money from the equity, improve the home and rent it. The Board is okay with that, and the Board was not asking for a stipulation if she chooses to refinance the home and rent it. Her concern was displacing one family for another in a bad situation. If that was still the stipulation on the table, she was willing to leave it at that. Motion Vice Chair Romelus so moved that Ms. Hoggins Wilson could refinance the property and move on and the Board would not assess any stipulations on her refinance or rental of the property. If Ms. Noggins Wilson sells the home, the agreement stands as originally stated. If the Board could not take a lesser amount, it will remain per the contract in an amount up to $47,000 at the time she sells. Board Member McCray seconded the motion. Ms. Noggins Wilson explained that was the original case and that was already in place. She was present because she was offered the opportunity to have a buy-out. When she went to the bank, they had the same ideas as the Board. Even with a refinance, when the bank looks at it, the debt still stands, and she cannot refinance. Either way she owes the $47,000 as it states in the addendum. Board Member Romelus asked if a letter could 6 Meeting Minutes Community Redevelopment Agency Board Boynton each, Florida April 10, 2018 be written explaining Ms. Hoggins Wilson does not owe anything if she refinances and the debt only applied if she sells the property. Attorney Rossmell responded they could and explained the Board could amend the agreement. Ms. Noggins Wilson will take it to the Bank. Attorney Rossmell summarized per the current agreement, if Ms. Noggins Wilson refinanced $47,000 comes to the CRA. Per the motion, if the motion passed, the agreement will be changed to result in the refinance repayment being taken off the table, and she would only owe money if the property is sold. The motion would clarify the definition of qualified and non-qualified income. That unanimously passed. B. Consideration of Addendum to Purchase and Sale Agreement for 211 E. Ocean Avenue, a/k/a Magnuson House Motion Vice Chair Romelus moved to approve. Board Member McCray seconded the motion that unanimously passed. D. Consideration of Boynton Village, LLC Compliance Audit This item was previously tabled. D. Consideration of Parameters for an RFP/RFQ for Redevelopment for CRA Owned Parcels within the MILK, Jr Boulevard Corridor Chair Grant noted there were multiple comments from CRA Advisory Board on this item. Board Member Katz favored moving forward with the RFP/RFQ based on comments from the community. He favored mixed uses although not exclusively. If someone wants to have just commercial, he was fine, but he wanted to cast the net at setting an investment value with a combination of land and money as there is $1.2 million available and leaving it as an open campus. He had no intention of building something for a defined purpose when the market does not support it at this time at this location. He wants a broad RFP to see what comes back The Board did not have to accept all ideas, but a narrow focus would turn off potential investors. Board Member McCray agreed. Chair Grant wanted an opportunity to have equity for the community and the only way to do so is through ownership. The original RFP discussion was for a design build and the CRA could ask for a maximum build price and have the ultimate say who owns the property. In the past, the CRA has not done well. He referenced the Little House that has no tenant and the Magnuson House that does not have a permit approved. Chair Grant commented this is a historically black community. The taxpayers in the HOB were paying 7 BOYNTO C D wimBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD M EETING OF: September 8, 2020 OLD BUSINESS AGENDAITEM: 14.C. SUBJECT: Discussion and Consideration of Relief Options for Grant Payoff Requirement in CRA Home buyer Assistance Program Mortgage between Lasendra Hoggins Wilson and the CRA SUMMARY: On February 13, 2018, the CRA Board approved the subordination of its Homebuyer's Assistance Program (HAP) mortgage in order for Ms. Noggins to refinance her property located at 508 NW 12th Street, Boynton Beach, FL 33435 (Attachment 1). The refinancing provided funding for the necessary improvements such as flooring, landscaping, and general repairs in order to rent the property. On April 10, 2018 the CRA Board agreed to a Second Amendment to the HAP Agreement (Attachment II & III). The Second Amendment (Attachment IV) outlines the provisions of the grant if the property was sold to a qualified/non-qualified buyer. It also allowed Ms. Noggins to refinance the property without repayment of the original grant in the amount of $47,000. However, the CRA Board did not agree to Ms. Noggins' request for a reduction of the original grant amount from $47,000 to $5,000. Ms. Noggins refinanced the property on July 15, 2019 in which the CRA subordinated to the first mortgage (Attachment V). Ms. Noggins is requesting that the CRA Board consider the following: • reduction of the original grant payoff amount of$47,000 • reduction of the original grant payoff amount based on the number of years of occupancy The request being made by Ms. Noggins did not include any specific amounts or supportive documents (Attachment VI). FISCAL IMPACT: To be determined by the Board CRA P LAN/P ROJ ECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: To be determined based on discussion and consideration by the CRA Board. ATTACHMENTS: Description D Attachment I - February 13, 2018 Minutes D Attachment II - March 8, 2018 M inutes D Attachment III -April 10, 2018 Minutes D Attachment IV -Second Amendment to HAP Agreement D Attachment V -Subordination Agreement- Hoggins D Attachment VI - Request for Reduction in Grant Payoff- Hoggins Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida September 8, 2020 Board Member Hay moved to approve. Vice Chair Penserga seconded the motion. The motion was clarified as amended for the NOP and the $25K. The motion unanimously passed. B. Consideration of Resolution No. R20-04 Adopting the CRA Budget for Fiscal Year 2020-2021 Ms. Hill explained this was the Resolution to adopt the budget for FY 20/21. Chair Grant requested a motion to adopt as stated. Motion Board Member Hay so moved. Board Member Romelus seconded the motion. The motion unanimously passed. C. Discussion and Consideration of Relief Options for Grant Payoff Requirement in CRA Homebuyer Assistance Program Mortgage between Lasendra Hoggins Wilson and the CRA. Mr. Simon explained the recipient requested the item be moved forward. She had appeared in February 2018 and CRA agreed to subordinate the HAP mortgage so Ms. Hoggins Wilson could refinance the home. The refinancing was to provide improvements to rent the property, which the Board also allowed her to do without penalty under the terms of the grant. On April 10, 2018, the Board approved a second amendment to the HAP Agreement with if the property was sold to a qualified or non- qualified buyer and to refinance the property. There was no agreement to reduce the grant from $47K to $51K. The property was refinanced in July 2019, and the CRA subordinated to the first mortgage. She requested the Board consider the original grant payoff amount and offered a formula reduction based on how long she owned the property. She was trying to sell the property and if sold any debt outstanding would be paid off. Ms. Hoggins Wilson, 508 NW 12th Avenue, appreciated the Board's help and commented she was not able to refinance the full amount, as the bank would not allow the $47K to be given and it was added back into the debt. She has another child going off to college and no longer needed the home. It was difficult to sell the property. If she pays back the $47K, she would not have anything with which to purchase a new home. She asked if there were any options. Chair Grant felt with the first-time income qualified buyer, he would take no money and wish them well building home equity and wealth. If selling to someone looking to rent out the property, he did not think the Board approve it. He thought 10 years was a third of the outstanding amount. He hoped the home would be sold to a first-time homebuyer. Ms. Noggins Wilson explained when she approached the Board the last time, the 13 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida September 8, 2020 repayment amendment was removed and if sold to another income qualified, she did not have to pay it back. She favored selling to an income qualified family. Chair Grant asked about the second part, if she could not find an income qualified buyer. Board Member Romelus asked why the clause was removed. Attorney Duhy commented it was not removed, it was clarified. The terms were as they are. It was written differently, as Ms. Noggins and the Board had a different interpretation. The Board could amend it. Motion Board Member Romelus moved to amend the contract to include the clause. Board Member Hay seconded the motion. There would be no repayment if sold to a qualified low-income buyer. The motion unanimously passed. Mr. Simon inquired if Ms. Noggins sold to a non-income qualified buyer, if she would pay back the $30K. Ms. Noggins countered with a $15K repayment. There were no objections. Motion Board Member Hay moved to accept Ms. Hoggins terms. Board Member Romelus seconded the motion for discussion. She asked if the amendments were permissible with the program, if they could continue the program. Attorney Duhy explained the program is no longer offered. She thought there was no limit on what the home could be sold for and the amendments were legal. The motion unanimously passed. D. Consideration of the Second Amendment to Fund the Increasing the Quality of Life Program of Habitat for Humanity International (d/b/a Habitat for Humanity of South Palm Beach County Ms. Shutt presented the item. Habitat for Humanity was to complete the items in the grant agreement for the above program for completing three new single-family homes: one detached, one duplex and a villa. They completed three neighborhood revitalization program and conducted homeowner and educational workshops. They are asking for 120 days for the last unit at 110 NW 6t" Avenue. The duplex was completed and they are awaiting the Certificate of Occupancy. The difficulty was getting the volunteers to complete the home amid the pandemic. Habitat requested to have the unit completed and CO date moved from October 15, 2020 to February 15, 2021, taking the holidays into consideration. Staff agreed and the draft amendment was attached. The Habitat for Humanity representative was present. Motion Board Member Hay moved to extend the deadline. Vice Chair Penserga seconded the motion. The motion unanimously passed. 14 BOYNTO K. COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: January 6, 2020 NEW BUSINESS AGENDAITEM: 15.A. SUBJECT: Consideration of Terms of the CRA's Homebuyer Assistance Program between Ian and Tosi Rigby and the CRA SUMMARY: On December 16, 2019 the CRA received a letter from past grant recipients of the Homebuyer Assistant Program (HAP), Ian and Tosi Rigby(Attachment 1). The CRA Board approved the Rigby's HAP application and purchase assistance grant in the amount of $50,000 on December 9, 2008, to be used for the purchase of a new home located at 717 NE 2nd Street (see Attachment 11). The Rigbys have owned the home for approximately eleven (11)years and are forced to relocate from the area due to family circumstances outside of their control. Under the terms of the HAP Agreement and Promissory Note (Attachments I11, IV &V) the following conditions apply if they were to sell the property: • Upon the sale of the Property, during years six(6)through twenty(20)of ownership, Borrower shall pay fifty percent (50%)of the equity in the Property to Lender. During years twenty-one (21)through thirty(30), Borrower shall pay fifteen percent (15%) of the equity in the Property to Lender. • In the event that the Grantee(s) sells the property to a non-income qualified buyer (a family whose income exceeds 120% of median household income for Palm Beach County), leases the property, refinances the property or does not reside in the property as their full- time residence, the full sum of the Grant plus four percent (4%) annual interest from the date of this agreement shall be due and payable. The Rigbys accept the term of repayment in full of the CRA's original grant amount and are requesting that the CRA Board waive the fifty percent (50%) equity share upon the sale of house as well the interest charge of four percent (4%)as described above. CRA staff supports the request to waive the fifty percent (50%) share of equity, however, staff is less eager to release the four percentage (4%) interest fee if not sold to an eligible buyer. The purpose of the repayment term was to maintain a cycle of affordability for at least 20 years. If the house could be sold to an income eligible buyer, the four percent (4%) interest charge would not apply. CRA staff is more than willing to assist the Rigbys to conduct the income eligibility verification of qualified, mortgage approved buyers in order to save the four percent (4%) interest charge on the grant. FISCAL IMPACT: To be determined by the Board CRA PLAN/PROJ ECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRAAB RECOMMENDATION: N/A CRA BOARD OPTIONS: Option 1: Approve the request made by Ian and Rigby to accept repayment of the CRA's HAP grant amount and the waiver of the fifty percent (50%) equity share upon the sale of house and the interest charge of four percent (4%) if the house is sold to a non-income eligible buyer. Option 2: Approve the request made by Ian and Rigby to accept repayment of the CRA's HAP grant amount and the waiver of the fifty percent (50%) equity share upon the sale of house as well as the interest charge of four percent (4%) if the house is sold to an income eligible buyer. Option 3: Do not approve the request made by Ian and Rigby to accept repayment of the CRA's HAP grant amount and the waiver of the fifty percent (50%) equity share upon the sale of house and the interest charge of four percent (4%) if the house is sold to a non-income eligible buyer. Option 4: Other terms and options as determined by the CRA Board. ATTACHMENTS: Description D Attachment I - Letter D Attachment II - Property Aerial Map D Attachment III - Minutes 12/9/08 Approving Ridgy HAP D Attachment IV - HAP Grant Agreement D Attachment V - HAP Promissory Note Ian &Tosi Rigby 717 NW 2"d St. Boynton Beach, FI 33435 561-460-1541 December 16, 2019 Dear Boynton Beach CRA & Board: I am writing to request that you please waive the penalty of 50% of the equity on our property and 4% interest annum on the $50,000 grant we received in May of 2009. We are willing and understand that we must repay the $50,000 grant upon the sale of our home and our main objective would be to sell to another qualified buyer. We have resided in our home for nearly 11 years and have truly enjoyed it. We regret that current circumstances with my father needing to now reside with us and relocate from the Bahamas makes us compelled to sell our home. My father is a paraplegic and has suffered a double amputation. Unfortunately, our home is not handicap nor easily wheelchair accessible and all 3 bedrooms are on the second floor. We also have 2 children and my father would need as much of his own space as we can possibly provide in a bigger home. It wasn't until his health took a turn for the worst that I realized as his only daughter it is best that he moves here with me in the U.S. My father would have better healthcare and opportunities that do not exist in the Bahamas for someone with his condition. I addition to our ordeal, hurricane Dorian has significantly impacted our finances by having to support our families in the Bahamas and the ones that are also displaced here. We are at your mercy and are heavily depending on as much funds as possible from our home's equity upon the sale to put down on another home. Considering our predicament, we would need our mortgage payments to be as affordable as we have been accustomed to for over 10 years. Please consider waiving the penalties due to these unusual, life changing circumstances. We have always maintained constant employment and have never been delinquent on our mortgage or any loan for that matter. We also wish to be remembered with good characters as appreciative grant recipients of the CRA. Appreciatively, ;4�A — -- Tosi Rigby Ian Rigby Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida January 6, 2020 what he was doing. Board Member Penserga agreed with Board Member McCray and commented he favored the extension. Vice Chair Katz explained it was important the developer be aware of the Board's perspective. Mr. Camalier explained there will be a new owner if the buyer takes advantage of the opportunity zone. They sent 1,300 marketing packages to every large developer they could find. The rents in Boynton Beach are not anywhere near surrounding cities. He thought the site should be attractive, but if building a new building, it cost the same amount of money in Boynton as it does elsewhere. He noted 500 Ocean had some internal issues and rents were reduced. It was a problem because 500 Ocean was the only comparable in the downtown. He thought all should work together and he committed to being more transparent. Board Member Romelus agreed. Vote The motion unanimously passed. Attorney Duhy clarified the amendments were to the TIF, Purchase and Development Agreement and all deadlines will remain the same. Mr. Simon requested a motion to allow the Chair to sign once the amendment is approved by legal and counsel for the developer rather than having to bring it back to the next meeting. Motion Board Member Romelus so moved. Board Member McCray seconded the motion. The motion unanimously passed. 15. New Business A. Consideration of Terms of the CRA's Homebuyer Assistance Program between Ian and Tosi Rigby and the CRA Mr. Simon explained the individuals were first time homebuyers purchasing the property at 717 NE 6th Street, who received down payment assistance from the CRA in 2008. They have been in the home for 11 years and want to relocate. Under the existing agreement, they are required during the first six to 20 years of ownership, the buyer shall pay 50% of the equity to the CRA and years 21 to 30, the buyer would pay 15%. If the owner sells the property to a non-income qualified buyer, they would be responsible to pay some of the grant plus 4% interest from the date of the agreement. The Rigby's will pay back the $50K to the CRA and they are requesting the Board waive the 50% of their equity share on the sale of the home back to the CRA and the 4% interest charge on the amount of the grant. 13 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida January 6, 2020 Chair Grant supported waiving the equity because they are paying back the loan. They desire to sell to a qualified buyer and he would support waiving the 4% interest on the loan. Board Member McCray also supported the request. Motion Board Member McCray so moved to waive the 50% and 4% interest, and they will try to sell to a qualified buyer. Board Member Romelus seconded the motion. The motion unanimously passed. Board Member Romelus inquired who built the homes and learned it was the Delray Beach and Boynton Beach Faith Based Community Redevelopment Agency, and the City, through the Development Department. The CRA offered the down payment assistance, and anyone who could provide the house at a certain price and had an income eligible buyer would get the assistance. This was also done in the preserve and scattered infill housing, and a little bit like Ocean Breeze West, except in the latter, the CRA invested in the site infrastructure instead of individual closings. The homes could be modified to be handicapped accessible. B. Consideration of an Interlocal Agreement between the Boynton Beach CRA and Solid Waste Authority of Palm Beach County Ms. Shutt explained this item was through the Blighted Property Program through the Solid Waste Authority. This is the fourth year receiving the grant. The CRA increased the grant award through the years. This is for site work and demolition for two properties the CRA will be addressing. The CRA is one of six entities awarded out of 14 who have applied through the County. The agreement is similar to what the Board approved last year, except for the properties and the grant amount. Staff and Legal Counsel reviewed the documents and sent them back with some changes. The direction is for the Board to approve the draft interlocal agreement and authorize the Board Chair to sign on final Legal review since they may not be able to wait until the February meeting. The grant is dispersed in two parts: upon signing the agreement and then again on the last activity. Chair Grant questioned if the temporary Library would be demolished. Mr. Simon explained when the application was submitted to the Solid Waste Authority, the intent was to issue a Request for Proposal. This would be an incentive for the agency using grant funds to pay for the demolition, that they would have to pay for otherwise. It is providing a cleaner site for the developer, which would expedite the process. Chair Grant commented there was nothing there and nothing there for years; it was a building that has been used and could be used. The Board does not know how much it would cost to fix it or tear it down. Mr. Simon asked if the intent was to RFP the building or occupy it. Chair Grant thought the City had needs that the building could accommodate. He queried if the building had to be demolished if the Board accepted the grant. Ms. Shutt explained this was specifically for the building. Before staff submitted the grant, they asked City staff about converting the property and what the cost would be to convert the building. 14 BOYNTO C D wimBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD M EETING OF: March 9, 2022 NEW BUSINESS AGENDAITEM: 17.C. SUBJECT: Consideration of Modifications to the Terms of the Homebuyer Assistance Program Grant Agreement between Ian and Tosi Rigby and the CRA SUMMARY: On December 9, 2008, the CRA Board approved Ian and Tosi Rigby's HAP application and purchase assistance grant in the amount of $50,000 to be used for the purchase of a new home located at 717 NW 2nd Street (Attachments I & 11). The Rigbys have owned the home for approximately thirteen (13)years. On January 6, 2020, the CRA Board approved the sale of the Rigby residence and waived the Promissory Note requirement of fifty percent (50%) equity share and four percent (4%) interest payment to the CRA if the Rigbys tried to sell the property to an income qualified buyer (see Attachment 111). However, the Rigbys never sold the property. On February 28, 2022, the CRA received a letter from the Rigbys requesting the CRA Board consider a waiver and/or change to the Promissory Note in order to refinance the home without repayment of the entire principal balance and interest and allow them to utilize a small portion of the equity to pay debts, bills, and other financial obligations (see Attachment IV). On March 2, 2022, the CRA received the loan estimate from M&T Bank that outlines the terms of the refinance (see Attachment V). Under the terms of Promissory Note (see Attachment VI) the following conditions apply if they were to refinance the property: • Borrower elects to refinance the Property, Borrower shall repay the entire principal balance in full to Lender, together with interest at four percent (4%) per annum calculated from the time of purchase of the Property. If the CRA approves the refinance, as requested, the CRA will be required to execute a subordination agreement. Under the terms of the CRA's Subordination Policy (Attachment VI 1) the following conditions apply: • The CRA does not support the owner using equity for any items other than the house itself. If the purpose of the new loan is home repair or reasonable improvements, the need must be substantiated by an inspection of the property by a CRA staff member and a contract for the proposed repairs must be furnished by the homeowner. • The CRA will not subordinate its mortgage for owners attempting to obtain a line of credit or consolidate debt, as this would enable them to increase their debt for purposes other than home improvement. If the owner wants to refinance the first mortgage at a lower rate and/or for a shorter loan term, the CRA may subordinate if: 1. Additional money isn't being borrowed (unless its purpose is for home repair or reasonable improvements). 2. The resulting housing cost (P I T I) does not exceed the housing cost (P I T I) calculation of the original loan. 3. The new loan is for a fixed rate. FISCAL IMPACT: To be determined by the Board CRA P LAN/P ROJ ECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRAAB RECOMMENDATION: N/A CRA BOARD OPTIONS: To be determined by the CRA Board ATTACHMENTS: Description D Attachment I - HAP Grant Agreement D Attachment II - Property Aerial Map D Attachment III -January 6, 2020 Agenda Item & Minutes - Rigby Request to Sell D Attachment IV - February 28, 2022 Rigbys Letter Requesting Approval of Refinancing Terms D Attachment V - Rigby Good Faith Estimate D Attachment VI - HAP Promissory Note D Attachment VII -CRA Subordination Policy Meeting Minutes CRA Board Boynton Beach. Florida March 9, 2022 Ms. Shutt presented the item for infill housing. The request was to transfer the land to Habitat for Humanity. This was the property they acquired at the last auction. This is the property down the street from the property they previously gave Habitat. Motion Board Member Penserga moved to approve. Vice Chair Hay seconded the motion. The motion passed unanimously. C. Consideration of Modifications to the Terms of the Homebuyer Assistance Program Grant Agreement between Ian and Tosi Rigby and the CRA Mr. Tack commented the Board had previously approved this award to the above for $50K for a new home at 717 NW 2nd Street. They have been in the home for 13 years. On January 6, 2020, they approved a sale and waived a promissory note if they would try to sell property to an income qualified buyer. On February 28t", the CRA received a letter for the CRA to consider a waiver or change to the promissory note to allow them to refinance the home without repayment of the entire principal balance and interest and use a small portion of the equity to pay debts, bills and outstanding obligations. Under the note, there were conditions that apply if they want to refinance the property. If they refinance, they have to repay the entire principal balance in full to the lender with 4% interest per annum calculated from the time of purchase of the property and if the GRA approved the refinance, the CRA will have to execute a subordination agreement. Under the terms of the subordination policy, the CRA does not support the owner using the equity for anything other than the house. If the purpose of the loan is home improvements or maintenance of the property, the property has to be inspected by a CRA staff member and a contract for the proposed repairs must be provided by the homeowner. The CRA will not subordinate its mortgage for owners attempting to attain a line of credit or consolidate debt as this will enable them to increase their debt for purposes other than home improvement. If the owner wants to refinance the first mortgage for a lower rate or shorter term, they can do so under certain conditions which he read. The individual has to own the home for 30 years. This is a legacy thing. Chair Grant requested the Board remove the second lien on the property so they can do what they like. Motion Vice Chair Hay so moved. Board Member Romelus seconded the motion. The motion passed unanimously. The Board forgave the principal and did not collect on the interest. D. Discussion and Consideration of a Consent and Funding Agreement between the CRA, the City of Boynton Beach, TD BANK, N.A., and Centennial Management Corp.ANelis Landing Apartments, LLC for the MLK Jr. Boulevard Corridor Mixed Use Project 29 BOYNTO C D m'suBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 NEW BUSINESS AGENDAITEM: 14.13. SUBJECT: Discussion and Consideration of the Purchase of 1213 NW 4th Street, the Cherry Hill Mart SUMMARY: The property located at 1213 NW 4th Street, known as the Cherry Hill Mart, was listed for sale by the owner at the end of January 2022 in the amount of $400,000 (see Attachments I and 11). As part of the CRA Advisory Board's (CRAAB) monthly assignment, CRA Staff presented the property to CRAAB at their February 3, 2022 meeting. CRAAB motioned that the property should be pursued as a land banking opportunity(see Attachment 111). The CRAAB's decision was presented to the CRA Board at their March 9, 2022 meeting. The CRA Board directed staff to have an appraisal done on the property, determine if funds were available to purchase the property and discuss with CRA legal the current lease on the premises (see Attachment IV). On April 12, 2022, the CRA received the appraisal on the property which indicates a current market value of$310,000 (see Attachment V). CRA Staff is bringing this item back before the CRA Board to discuss whether or not the CRA Board would like to pursue purchasing the property. FISCAL IMPACT: To be determined by the CRA Board. CRA P LAN/P ROJ ECT/P ROG RAM: 2016 Boynton Beach Community Redevelopment Plan CRAAB RECOMMENDATION: Pursue the property as a land banking opportunity. CRA BOARD OPTIONS: To be determined by the CRA Board. ATTACHMENTS: Description D Attachment I - Location Map D Attachment II - M LS Property Listing D Attachment III - February 3, 2022 CRAAB Minutes D Attachment IV - March 9, 2022 CRA Board Minutes D Attachment V -Appraisal k, '��YNt fY -s �l4t t pp®ysaFa aSN >r F� a a� int if � h t t• 4 >t t r i a r 4 ,! t 4 f y� Vl i1 d 4 9 f ra C G76 [ >Z � N� 1128122,2:10 PM flexmis Comm/industry Customer Report 1213 NW 4th Street,Boynton Beach,FL 33435 List Price:$400,000 List RX- Status: Active Original List 400,000 Number: 10770608 Property Desc: Convenience Food Price: Area: 4330 Mkt List Price: 400,000 Geo Area: PB12 Parcel ID: 08434521140003960 Waterfront: No County: Palm Beach Multiple Ofrs Yes Zoning: R2 For Sale: Yes Acptd: For Lease: No Subdivision: CHERRY HILLS " Property Desc:Convenience Food Mkt Legal Desc CHERRY HILLS LTS 396&397(LESS N ELY CORNER FOR RD RIW) Virtual Tour.0ck to View Vo,.ua="Ibur Year Built: 1959 RE Taxes:5,003.67 Miles to Expressway: Built Desc:Resale Tax Year:2021 Miles to Beach: Tot Bldg SgFt: 1,452 SgFt Source:Tax Rolls Type:Retail Total Units: 1 #of Stories: 1 Acres:0.11 Baths-#Toilets: 1 #of Meters: %Air Conditioned:100 Ann Assoc/Condo Dues: Directions:Site is located on the southwest comer of NW 4th Street and NW 12th Avenue in Boynton Beach,Florida Avail Docs:None Possession:At Closing Avail Info:None Roof.Flat Tile Cooling:Central Sale Includes:Building and Land Flooring:Concrete;Vinyl Floor Type of Building:Free Standing;Income;Retail Lease:None Tenant Pays:Common Area Maint.;Electric;Sewer;Water Heating:Central Terms Considered:Cash;Conventional Location: Utilities:Electric;Public Water Land Income: Use: Retail Fire Protect:Smoke Detector Days On Market:10 Sold Price: Sold Price Sgft: Terms of Sale: Sold Date: Public Remarks:GREAT INVESTMENT OPPORTUNITY!Very busy convenience store surrounded by residential neighborhood.The business has been operating for 63 years and has established a clientele.Open 7 days a week from 7 A.M.to 11 P.M.Property is fenced in on the south and west side of the building.Replaced roof in 2020.Business and inventory not included in sale.PLEASE DO NOT DISTURB THE TENANT. Melvin Michael Wimbush Atlantic Florida Properties Inc 4455 Military Trail,#100 Jupiter,FL 33458 561-222-9247 License#:584728 1/28/22,2:10 PM flexmis { t � 4 _ s t t, i 11 t nt Iii I t�r - a tii�tt�3 N - t��- S }U 1 � t tx�,t J' 4u e b�A 1 r � mw- mommonow a a a, i s �tfi4S':- ` ta'ttiaa, u 1/28122,2:10 PM flexmis w s OF f f, � u G Yt�s 7 t Information is deemed to be reliable,but is not guaranteed.©2022 MLS and 1"BS.Prepared by Melvin Michael Wimbush on Friday,January 28,2022 2:10 PM.The information on this sheet has been made available by the MLS and may not be the listing of the provider. Meeting Minutes Community Redevelopment Agency Advisory Board Page 2 February 3, 2022 anyone from the City to write it up and get an Engineering report. The issue in Boynton Beach is the same as Surfside. Ms. Shutt introduced and welcomed their new Assistant Director, Timothy Tack, who is a professional Engineer. He has worked in the Redevelopment field over ten years and in government over 15 years. He also worked at the Delray Beach CRA. 7. Consent A. Approval of CRA Advisory Board Meeting Minutes -November 4, 2021 MOTION Motion made by Ms. Cobb, seconded by Mr. Josemond, to approve the November 4, 2021 Minutes. In a voice vote, the motion passed unanimously. (7-0) 8. Assignments A. Pending Assignments 1. Review of Commercial Properties within the CRA Area Thuy Shutt, CRA Executive Director, explained the assignment was for this Board to look at five available properties and put them into three categories; presumed now as a land banking opportunity, presumed future date, or if it does not fit in the CRA mission. Direction was given not to consider the costs, only the property, and have discussion. The results of this meeting will be forwarded to the CRA Board at the March 9, 2021 meeting for consideration. Ms. Shutt reported that the property located at 1213 NW 4th Street is a convenience store and a non- conforming use in the R-2 Zoning District. The property is being offered at$400,000. It is under chronic nuisance review, which is a property where the owner or person responsible fails to make corrective actions, resulting in the life, quality, safety, and health of the community. There should be some pattern for repeated calls for services. This is one of those properties in which the CRA feels is a mission to eliminate slum and blight, as there are blighted conditions. There is a property owner and a tenant, so the property owner may not be the cause of this, it might be activities going on and failure to run best management practice on the site to prevent these types of uses or it could be external causes causing the nuisances to come about. Chair Gordon commented that the property almost has a 20-year lease. Ms. Skovron mentioned zoning. She did not feel the CRA District, as a community, would benefit from a store because it is in the back. Ms. Shutt stated the property will have to be rezoned because it is a non-conforming use, which means it is Commercial in a Residential Land Use. The R-2 is the Zoning District, so it is Residential Duplex, which is what would be allowed. Staff would be looking to the CRA Board for direction if they were to Meeting Minutes Community Redevelopment Agency Advisory Board Page 3 February 3, 2022 purchase the property under the right condition and at the right price; they would probably look at redevelopment to single-family or duplex, or Residential Use. Ms. Grcevic questioned how long the Business License has been in effect without interruption. Ms. Shutt replied probably since it was created or built; there has been continuous use. Ms. Grcevic asked how they could take something from someone who has a lease until 2040 and the license has never been interrupted. Ms. Shutt indicated that would be coordinated as they are doing their due diligence. The CRA staff would not recommend the Board purchase the property with the tenant; they would have to inherit a lot of issues. Chair Gordon questioned if the CRA can buy the tenant out. Ms. Shutt commented that they have not had that discussion with the owner. As they do their due diligence, they can see what their options are and it is up to the property owner to deal with the contractual obligation with the tenant,it is not something the CRA would be able to do. They can always negotiate with the CRA and the CRA Board Attorney, but this would meet the CRA mission in terms of eliminating slum and blight if the site were to be redeveloped. Ms. Grcevic asked if anyone is keeping an eye on the Business Tax to make sure they are not falling behind. Ms. Shutt stated it is monitored by the City Code, as well as Police and Fire since there is a pattern. Ms. Kelley questioned if there are liens on the property. Ms. Shutt thought as part of the chronic nuisance, there may be some liens. The Code allows the City to identify certain things it can mitigate as blighted conditions and then they enter an agreement through the Special Magistrate, who has the authority to enforce it, and the City has the authority to clean up whatever is needed and charge the property owner. Liens can be worked out or pursued on the property if things do not get corrected timely. Mr. Josemond asked if the CRA should get involved since this is business/entrepreneur related. Ms. Shutt understood several businesses have been coming in and apparently the bad elements take over. Chair Gordon questioned if the City acquired the property if any investor/entrepreneur can come in the future and build. Ms. Shutt advised the CRA could explore possibilities of what to do with the building, but it is non- conforming and does not meet setback and parking standards, so it is limited in what can be done with the Meeting Minutes Community Redevelopment Agency Advisory Board Page 4 February 3, 2022 structure and use. Normal maintenance and repairs can continue, but it cannot expand; it needs to meet Code if there are a lot of substantial improvements. The property should be Residential. Ms. Cobb commented if there is a property in the area that needs CRA assistance, this is the property. Vice Chair Cruz stated the property is not safe and it is creating issues for the City; something should be done about it. Chair Gordon thought they should pursue now as a land banking opportunity if they can get it without the tenants. Ms. Shutt stated they can make sure when they speak to the Attorney that he looks into and verifies that if they do pursue the property, it is under the condition they are not going to be dealing with the tenants. MOTION Motion was made by Ms. Cobb, seconded by Ms. Cruz, that the property located at 1213 NW 4th Street be pursued as a land banking opportunity. In a voice vote, the motion passed unanimously. (7-0) Ms. Shutt advised the property located at 2821 South Federal Highway is currently a hotel with 140 units that is being offered at$9.1 million. Many improvements need to be done, interior as well as exterior, and it is on 2.89 acres. This meets the CRA mission for redevelopment and the elimination of slum and blight. This property is a chronic nuisance. Ms. Skovron questioned if there is a height restriction. Ms. Shutt stated there was conversation about converting this to multi-family, but it would require Planning and Zoning changes because it is zoned for Commercial. Ms. Grcevic asked if there has been any interest in purchasing and redeveloping the property. Ms. Shutt indicated they have had discussions with some contractor purchasers and the valuation is that it would be cost prohibitive to buy the property for $9.1 million and then demolish it. They could submit Building permits and update the structure, which would probably be the best and quickest scenario to turn it over and start collecting revenue. They have heard some people would like to keep the property, but they have to look at the price versus what has to be put into it. Since the asking price is so high, there could be something recommended to the CRA Board should the property be sold to a new owner. A recommendation could also be to the Board to allocate funding to work with the new owner to make sure the property can be redeveloped in the right way and assistance in kind, or they can try to connect them with any available resources. They hate to offer anything if they do not know who the owner is. Ms. Skovron mentioned tax income. Meeting Minutes CRA Board Boynton Beach. Florida March 9, 2022 one knows or likes what is going on and no one can comment. What they think the city needs is far from what the residents think is needed. He thought not involving the public was a little disgraceful. The few times the public does show up, the Board votes against them and everything is political. He had to wait 10 minutes at an intersection to get here. Board Member Romelus stated for the record she did not interfere with Mr. Mignoli's comments. She attended virtually and there was interference while Mr. Mignoli was speaking, but it was not from here. No one else coming forward, public comment was closed. 11. GRA Advisory Board A. CRA Advisory Board Meeting Minutes - November 4, 2021 B. CRA Advisory Board Meeting Minutes - February 3, 2022 C. Pending Assignments Ms. Shutt advised the CRA Advisory Board met on February 3rd and was asked to weigh in on several available properties through the market or property representatives. She commented out of the five properties, there were two properties the CRA Advisory Board recommended pursuing which was the 2821 S. Federal Highway property by Homing Inn that is for sale, which can be considered a blighted property. The second property is 1213 NW 4t" Street, which is the Cherry Hill Mart. The CRA Advisory Board recommended pursing the property to land bank. The price is $400K. Chair Grant thought they should speak to the listing agent, get an appraisal, see if they have the funds and see if they want to discuss pursuing it at the next meeting. Vicki Hill, Finance Director, stated funds are tight now but funds were coming soon. They have $400K, but they have payments for the Oyer property that must be completed. Ms. Shutt noted they can look at it because they no longer have the project on 1St Street. There are obligations for the 217 N Seacrest property for $1.4M and debt service. They would love to pursue the Cherry Hill Mart, but there is a lease. She wanted the Board to direct staff to work with their attorney because there is 18 years left on the operators lease. There was consensus to proceed to pursue the property. D. Reports on Pending Assignments 1. Review of Commercial Properties within the CRA Area 12. Consent Agenda A. Approval of CRA Special Board Meeting Minutes - November 30, 2021 4 ANDERSON CA CP APPRAISAL OF A 1,443 SQUARE FOOT COMMERCIAL BUILDING LOCATED AT 1213 NORTHWEST 4TH STREET BOYNTON BEACH,FLORIDA 33435 FOR THERESA UTTERBACK,DEVELOPMENT SERVICES SPECIALIST BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY BY ROBERT B.BANTING,MAI, SRA CERT GEN RZ4 AND BEAU M.ARNOLD CERT GEN RZ2937 WITH ANDERSON&CARR,INC. 521 SOUTH OLIVE AVENUE WEST PALM BEACH,FLORIDA 33401 DATE OF INSPECTION: MARCH 30,2022 DATE OF REPORT: APRIL 11,2022 CURRENT DATE OF VALUE: MARCH 30,2022 A&C JOB NO.: 2220140.000 CLIENT REFERENCE: 1213 NORTHWEST 4TH STREET/CHERRY HILL MINI MARKET --A! - - ANDEPSON CAPP APPRAISERS RLAI..:iOCep;•(;;C:.'N UIIJAN S°(JI`V L,t rPERS April 11, 2022 Theresa Utterback Development Services Specialist Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue,4"Floor Boynton Beach, FL 33435 Dear Ms. Utterback: Pursuant to your request, we have personally appraised the real property being a 1,443 square foot commercial building located on a 4,967 square foot site. The building is single-story CBS construction and was completed in 1952. It is currently tenant occupied by a convenience store operator. Upon the appraisers' on-site inspection the building appeared adequately maintained and in average condition. The subject property is located at the southwest corner of Northwest 4th Street and Northwest 12th Avenue, within the municipal limits of the City of Boynton Beach. The property address is 1213 Northwest 4th Street,Boynton Beach, FL, 33435. The convenience store includes a small kitchen area with commercial hood at the north end of the building and numerous beverage coolers as would typically be found in a convenience store such as this. The subject has a corner location which provides adequate on-site parking with 7 striped and bumpered spaces, including one handicapped space that are located on the east and north sides of the building. We note that the subject's current use as a convenience store is not in line with the current zoning as a permitted use. The subject appears to have been grandfathered in and is considered a legal non-conforming use. The use can carry on indefinitely. However, should the use stop for 6 months or more or the business license lapse for a similar period the grandfathered status is lost and the convenience store will no longer be allowed. Also, should the property be destroyed,it would have to be rebuilt to current zoning standards,which precludes commercial uses. The purpose of this appraisal is to estimate the market value of the fee simple estate of the subject property as of March 30, 2022. The intended use of the report is to assist the client and intended user in establishing a purchase or selling price. The intended user of this appraisal report is Boynton Beach Community Redevelopment Agency. This report has been prepared for no other purpose and for use by no other person or entity than for use by the client for the purpose stated herein. Any other use of this appraisal is considered a misuse and thus the appraisers will not be held responsible for any outcome associated with use by another entity or for another purpose. We note that the subject property is currently encumbered by a lease that was signed in July 2021. The initial term is for 4 years with three 5 year auto-renewal periods for a potential total term of 19 years. We have valued the underlying fee simple estate and have not analyzed the impact on value the lease could have or what it might cost to buy out this lease. ESTABLISHED 1947 ANDERSON&CARER INC. • 521 S OLIVE AVE.,W.PALM BEACH,FL 33401 • 561.333.1661 • ANDERSQNCARR.0©M AN EPSON CAPP Theresa Utterback Page 2 April 11, 2022 We have utilized the sales comparison approach to value, the most common method used for valuing properties such as the subject property. The global outbreak of a "novel coronavirus" known as COVID-19 was officially declared a pandemic by the World Health Organization (WHO). It is currently unknown what the final effect this event may have on the national economy, the local economy or the market in which the subject property is located. The stock market responded negatively at first but has recovered. The real estate market is much slower to react and different segments of the market appear to have been affected in different ways. For example, retail store sales and the lodging industries appear to have been adversely affected while the local industrial and residential markets seem to have been mostly unaffected and are experiencing unprecedented growth at this time. We have attempted to take this into consideration in this report. The reader is cautioned that the conclusions presented in this appraisal report apply only as of the effective date(s)indicated. As a result of our analysis,we have developed an opinion that the market value of the fee simple estate (as defined in the report), subject to the definitions, certifications, and limiting conditions set forth in the attached report, as of March 30, 2022 was: CURRENT MARKET VALUE (AS-IS): $310,000 The following presents our analysis and conclusions in a narrative appraisal report. This letter must remain attached to the report,which contains 60 pages plus related exhibits,in order for the value opinion set forth to be considered valid. Your attention is directed to the General Limiting Conditions contained within this report. Respectfully submitted, ANDERSON& CARR, INC. Robert B.Banting, MAI, SRA Cert Gen RZ4 Beau M.Arnold Cert Gen RZ2937 RBBBMA:cmp 1213 Northwest 4th Street/Cherry Hill Mini Market A&C Job No.: 2220140.000 AN EPSON CAPP TABLE OF CONTENTS Page No. Summary of Important Facts and Conclusions......................................................................................................1 Certification..............................................................................................................................................................3 GeneralLimiting Conditions...................................................................................................................................4 Extraordinary Assumptions.....................................................................................................................................6 HypotheticalConditions..........................................................................................................................................6 Area/Location Maps.................................................................................................................................................7 AerialPhotographs...................................................................................................................................................8 Subject Property Photos (Taken March 30, 2022)...............................................................................................10 Purposeand Date of Value ...................................................................................................................................17 PropertyAppraised................................................................................................................................................17 LegalDescription ...................................................................................................................................................17 Disclosureof Competency.....................................................................................................................................17 IntendedUse and User..........................................................................................................................................17 Client........................................................................................................................................................................17 Definitions...............................................................................................................................................................18 Personal Property, Furniture, Fixtures and Equipment......................................................................................18 PropertyRights Appraised....................................................................................................................................18 TypicalBuyer Profile..............................................................................................................................................18 Scopeof Assignment..............................................................................................................................................18 Palm Beach Metro Area Summary.......................................................................................................................21 Conclusion...........................................................................................................................................................29 NeighborhoodSummary........................................................................................................................................30 PropertyData..........................................................................................................................................................32 TaxpayerOf Record...........................................................................................................................................32 Palm Beach County Property Control Number(S)..........................................................................................32 Assessed Value and Taxes for 2021 ..................................................................................................................32 CensusTract........................................................................................................................................................33 FloodZone Designation....................................................................................................................................34 Zoningand Future Land Use............................................................................................................................35 Concurrency........................................................................................................................................................35 Utilities................................................................................................................................................................35 SubjectProperty Sales History..........................................................................................................................36 SiteAnalysis........................................................................................................................................................36 SiteImprovement Analysis................................................................................................................................37 Building Improvement Analysis........................................................................................................................37 Building Area Calculations/Floor Plan...........................................................................................................38 HighestAnd Best Use............................................................................................................................................40 ExposureAnd Marketing Time.............................................................................................................................41 SalesComparison Approach.................................................................................................................................42 Sales Summary and Discussion..........................................................................................................................57 Conclusion...........................................................................................................................................................60 Qualifications for Robert B. Banting, MAI, SRA, Cert Gen RZ4 Qualifications for Beau M.Arnold, Cert Gen RZ2937 Addendum: 1213 Northwest 4th Street/Cherry Hill Mini Market A&C Job No.: 2220140.000 ANDERSON CA CP SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS Client: Theresa Utterback, Development Services Specialist Boynton Beach Community Redevelopment Agency Intended User Boynton Beach Community Redevelopment Agency Intended Use: Acquisition by a public agency Taxpayer of Record: Alberta Bell Living Trust Property Rights Appraised: Fee simple estate Extraordinary Assumptions: None Hypothetical Conditions: None Unusual Market Externality: Covid-19 Pandemic Project Location: Site is located at the southwest corner of Northwest 4th Street and Northwest 12th Avenue, within the municipal limits of the City of Boynton Beach. Site/Land Area: The subject site contains 4,967 square feet or 0.11 acres. Improvements: Year Built: 1959 Condition: Average Building Size: 1,443 square feet FAR: 0.29 Zoning: R2 Duplex(10 DU/Acre)by Boynton Beach Land Use Plan: MEDR - Medium Density Residential by Boynton Beach Flood Zone&Map Reference: Zone X (unshaded), Community Panel Number 12099C0787F, effective date of October 5, 2017 Census Tract: 0061.00 Current Use: Convenience store Highest and Best Use: Commercial 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 1 ANDERSON CA CP Exposure Time: 6 to 12 months Marketing Time: 6 to 12 months Estimated Property Values: Value via Cost Approach: N/A Value via Income Capitalization Approach: N/A Value via Sales Comparison Approach: $310,000 CURRENT MARKET VALUE (AS-IS): $310,000 Date of Inspection: March 30, 2022 Date of Report: April 11, 2022 Date of Value: March 30, 2022 Appraisers: Robert B.Banting, MAI,SRA Cert Gen RZ4 Beau M.Arnold Cert Gen RZ2937 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 2 ANDERSON CA CP CERTIFICATION I certify that,to the best of my knowledge and belief: The statements of fact contained in this report are true and correct. The reported analyses, opinions, and conclusions are limited only by the reported general limiting conditions, and are my personal,impartial, and unbiased professional analyses,opinions,conclusions, and recommendations. I have performed no services, as an appraiser or in any other capacity,regarding the property that is the subject of this report within the three year period immediately preceding acceptance of this assignment. I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest with respect to the parties involved. I have no bias with respect to any property that is the subject of this report or to the parties involved with this assignment. My engagement in this assignment was not contingent upon developing or reporting predetermined results. This appraisal assignment was not based on a requested minimum valuation, a specific valuation,or the approval of a loan. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 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 & Standards of Professional Appraisal Practice of the Appraisal Institute,which include the Uniform Standards of Professional Appraisal Practice. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. Beau M. Arnold and Robert B. Banting, MAI, SRA have made a personal interior and exterior inspection of the property that is the subject of this report. As of the date of this report, Robert B. Banting, MAI, SRA has completed the continuing education program of the Appraisal Institute. No one provided significant real property appraisal or appraisal consulting assistance to the person signing this certification. klbll a�— Robert B. Banting,MAS SRA Beau M.Arnold Cert Gen RZ4 Cert Gen RZ2937 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 3 ANDERSON CA CP GENERAL LIMITING CONDITIONS 1. Unless otherwise stated, the value appearing in this appraisal represents our opinion of the market value or the value defined as of the date specified. Values of real estate are affected by national and local economic conditions and consequently will vary with future changes in such conditions. 2. Possession of this report or any copy thereof does not carry with it the right of publication nor may it be used for other than its intended use. The physical report(s) remains the property of the appraiser for the use of the client. The fee being charged is for the analytical services only. The report may not be copied or used for any purpose by any person or corporation other than the client or the party to whom it is addressed, without the written consent of an officer of the appraisal firm of Anderson & Carr, Inc. and then only in its entirety. 3. Neither all nor any part of the contents of this report shall be conveyed to the public through advertising, public relations efforts, news, sales or other media without written consent and approval of an officer of Anderson & Carr, Inc. nor may any reference be made in such public communication to the Appraisal Institute or the MAI, SRA or SRPA designations. 4. The appraiser may not divulge the material contents of the report, analytical findings or conclusions, or give a copy of the report to anyone other than the client or his designee, as specified in writing except as may be required by the Appraisal Institute, as they may request in confidence for ethics enforcement or by a court of law or body with the power of subpoena. 5. Liability of Anderson & Carr, Inc. and its employees is limited to the fee collected for the appraisal. There is no accountability or liability to any third party. 6. It is assumed that there are no hidden or unapparent conditions of the property, sub-soil, or structures which make it more or less valuable. The appraiser assumes no responsibility for such conditions or the engineering which might be required to discover these facts. 7. This appraisal is to be used only in its entirety. All conclusions and opinions concerning the analysis which are set forth in the report were prepared by the appraisers whose signatures appear on the appraisal report. No change of any item in the report shall be made by anyone other than the appraiser and the appraiser and firm shall have no responsibility if any such unauthorized change is made. 8. No responsibility is assumed for the legal description provided or other matters legal in character or nature, or matters of survey, nor of any architectural, structural, mechanical, or engineering in nature. No opinion is rendered as to the title which is presumed to be good and merchantable. The property is valued as if free and clear of any and all liens and encumbrances and under responsible ownership and competent property management unless otherwise stated in particular parts of the report. 9. No responsibility is assumed for accuracy of information furnished by or from others, the clients, their designee, or public records. We are not liable for such information or the work of subcontractors. The comparable data relied upon in this report has been confirmed with one or more parties familiar with the transaction or from affidavit when possible. All are considered appropriate for inclusion to the best of our knowledge and belief. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 4 ANDERSON CA CP 10. The contract for appraisal, consultation or analytical service is fulfilled and the total fee payable upon completion of the report. The appraiser or those assisting the preparation of the report will not be asked or required to give testimony in court or hearing because of having made the appraisal in full or in part; nor engaged in post-appraisal consultation with client or third parties, except under separate and special arrangement and at an additional fee. 11. The sketches and maps in this report are included to assist the reader and are not necessarily to scale. Various photos, if any, are included for the same purpose and are not intended to represent the property in other than actual status as of the date of the photos. 12. Unless otherwise stated in this report, the appraisers have no reason to believe that there may be hazardous materials stored and used at the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea-formaldehyde foam insulation or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value. No responsibility is assumed for any such conditions or for any expertise or engineering knowledge required to discover them. The client is urged to retain an expert in this field,if desired. 13. If applicable, the distribution of the total valuation of this report between land and improvements applies only under the existing program of utilization. The separate valuations for land and building must not be used in conjunction with any other appraisal, no matter how similar and are invalid if so used. 14. No environmental or impact studies, special market studies or analysis,highest and best use analysis study or feasibility study has been requested or made unless otherwise specified in an agreement for services or in the report. Anderson & Carr, Inc. reserves the unlimited right to alter, amend, revise or rescind any of the statements, findings, opinions, values, estimates or conclusions upon any previous or subsequent study or analysis becoming known to the appraiser. 15. It is assumed that the property is in full compliance with all applicable federal, state, and local environmental regulations and laws unless the lack of compliance is stated, described, and considered in this appraisal report. 16. The value estimated in this appraisal report is gross without consideration given to any encumbrance, lien, restriction, or question of title, unless specifically defined. The estimate of value in the appraisal report is not based in whole or in part upon the race, color, or national origin of the present owners or occupants of the properties in the vicinity of the property appraised. 17. It is assumed that the property conforms to all applicable zoning, use regulations, and restrictions unless a nonconformity has been identified, described, and considered in this appraisal report. 18. It is assumed that all required licenses, certificates of occupancy, consents, and other legislative or administrative authority from any local, state, or national government or private entity or organization have been or can be obtained or renewed for any use on which the opinion of value contained in this report is based. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 5 ANDERSON CA CP 19. It is assumed that the use of the land and improvements is confined within the boundaries or property lines of the property described and that there is no encroachment or trespass unless noted in the report. 20. This appraisal report has been prepared for the exclusive benefit of the client and intended users, Boynton Beach Community Redevelopment Agency. This report has been prepared for no other purpose and for use by no other person or entity than for use by the client for the purpose stated herein. Any other use of this appraisal is considered a misuse and thus the appraisers will not be held responsible for any outcome associated with use by another entity or for another purpose. 21. The global outbreak of a "novel coronavirus" known as COVID-19 was officially declared a pandemic by the World Health Organization (WHO). It is currently unknown what the final effect this event may have on the national economy, the local economy or the market in which the subject property is located. The stock market responded negatively at first but has recovered. The real estate market is much slower to react and different segments of the market appear to have been affected in different ways. For example, retail store sales and the lodging industries appear to have been adversely affected while the local industrial and residential markets seem to have been mostly unaffected and are experiencing unprecedented growth at this time. We have attempted to take this into consideration in this report. The reader is cautioned that the conclusions presented in this appraisal report apply only as of the effective date(s) indicated. 22. The Americans with Disabilities Act (ADA) became effective January 26, 1992. The appraisers have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property, together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon the value of the property. Since the appraisers have no direct evidence relating to this issue, possible non-compliance with the requirements of the ADA in estimating the value of the property has not been considered. 23. ACCEPTANCE OF, AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES ACCEPTANCE OF THE PRECEDING CONDITIONS. EXTRAORDINARY ASSUMPTIONS No Extraordinary Assumptions were utilized in the preparation of this appraisal. HYPOTHETICAL CONDITIONS No Hypothetical Conditions were utilized in the preparation of this appraisal. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 6 ANDERSON CA CP AREA/LOCATION MAPS M�ydl P lrn i3egCh vvesti Ga[Fr�r ?atm Seaela f LnrahatsYrPe I-evert II i .aur i�ke bde31ing40ra � f- WFC r u PA,sp]Yqe jk 6.Ceenaci'es �j" A113.Yt;5 Subject Property ....... 1213 NNI 41h 51 6eyntnn " Bea<h FL U435 3 Fir CPN Y�` 1c,m Lr ni t� �w}f>•ie,tla Ftfls da F .@�,•Iroy 4eaeh it I� H,hl�nd Re h, s f,a re dl �� I„ � Auea Reton rry=ee N �5 1T of f t��t4 VI Subject Property . .. a .a.,. hI� �� • _. 1213 NW 451 5t S C ,_ .. r A s} r3 t 5 t ` n. I 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 7 ANDERSON CA CP AERIAL PHOTOGRAPHS 'I-A NE 11th A- IIIYYYttt Subject Property X ON S1,11 1213 Northwest 4th Street Cherry Hill Market A&C Job No.: 2220140.000 8 ANDERSON CA CP �t t 4 4 F �Y` a� vli 40A4ii,": s Subject Property ui , Looking south (photo dated 2-9-2020) IN 4 t v µ t i Looking west(photo dated 2-9-2020) 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 9 ANDERSON CA CP SUBJECT PROPERTY PHOTOS (TAKEN MARCH 30,2022) s II ,,•• S � re (� t Subject looking west from Northwest 4"Street l INt IA i n 1 4 ' f si � t 4f I-I Looking south on Northwest 4"Street, subject is on the right 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 10 ANDERSON CA CP Looking west on Northwest 12"Avenue, subject is on the left ikh Subject looking southwest from the intersection of Northwest 12"Avenue and Northwest 4" Street --A! 6- 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 ANDERSON CA CP North side looking south pT R U hof Rear of subject building looking south 1213 Northwest 4th Street Cherry Hill Market A&C Job No.: 2220140.000 12 ANDERSON CA CP ,sm,) RINI,` 1p ji t 15 North side looking west Retail area 1213 Northwest 4th Street Cherry Hill Market A&C Job No.: 2220140.000 13 ANDERSON CA CP t , pt �_ 4 + f Retail area tt � is t� 66,24 „- �E ` - " s .�y �L 1 d+ 3 t �a 'zs J J e t Kitchen area 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 14 ANDERSON CA CP -_`�— r � i r3 a t 4c {y�itr)t: ar Retail area tis rt4 n v x� �F r Walk-in cooler entrance and storage area 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 15 ANDERSON CA CP - + r y �y� ty� ))li yy { ly� +4SSVy}l�ittl 1�Ilr t t 2��r z6y r y,itJis s\rSy�t iyi sy,,i11��1\ViyVt;)�1(i�i s{S'��?�7t}t`;�irtt}r}ii{�'tyiGy'i�i�� y �3}"i - i.� - ��y{lyi - � i y n � Restroom (1 - r � s Sales counter 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 16 ANDERSON CA CP PURPOSE AND DATE OF VALUE The purpose of this appraisal is to estimate the market value,fee simple estate, of the subject property as of March 30, 2022. PROPERTY APPRAISED The subject is a 1,437 square foot commercial building located on a 4,967 square foot site. The building is single-story CBS construction and was completed in 1952. It is currently tenant occupied by a convenience store operator. Upon the appraisers' on-site inspection, the building appeared adequately maintained and in average condition. The subject property is located at the southwest corner of Northwest 4th Street and Northwest 12th Avenue, within the municipal limits of the City of Boynton Beach. The property address is 1213 Northwest 4th Street, Boynton Beach, Florida 33435. LEGAL DESCRIPTION The legal description for the subject property was taken from a survey provided by the property owner, a copy of which is provided in the addendum of this report. Lots 396 and 397, Cherry Hills, a subdivision located in Section 21., Township 45, Range 43, Town of Boynton, according to the plat thereof on file in the office of the Clerk of the Circuit Court of Pais Beach County, in Plat Rook 4, Piga 58 DISCLOSURE OF COMPETENCY Per the Competency Rule contained within the Uniform Standards of Professional Appraisal Practice, the appraisers hereby affirm that they are competent to complete the appraisal assignment for which they have been engaged by the client. INTENDED USE AND USER The intended use of this report is to assist the client and intended user in acquisition by a public agency. The intended user of the report is Boynton Beach Community Redevelopment Agency. This report has been prepared utilizing generally accepted appraisal guidelines, techniques, and methodologies as contained within the Uniform Standard of Professional Practice (USPAP), as promulgated by the Appraisal Foundation. CLIENT Ms. Theresa Utterback Development Services Specialist Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue,4"Floor Boynton Beach, FL 33435 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 17 ANDERSON CA CP DEFINITIONS Market Value 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, knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) Buyer and seller are typically motivated; (2) Both parties are well informed or well advised, and acting in what they consider their own best interests; (3) A reasonable time is allowed for exposure in the open market; (4) Payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) The price represents normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. (Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) and the Interagency Appraisal and Evaluation Guidelines, Federal Register, Volume 75, No. 237, December 10, 2010). PERSONAL PROPERTY,FURNITURE,FIXTURES AND EQUIPMENT This appraised value does not include the personal property, furniture, fixtures, and equipment (FF&E), if any, used in the operation of the intended use of the property. PROPERTY RIGHTS APPRAISED The property rights appraised are those of the fee simple estate. Fee simple estate is defined as absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain,police power, and escheat (The Dictionary of Real Estate Appraisal, 6th ed., Chicago: Appraisal Institute, 2015). TYPICAL BUYER PROFILE We found that buyers of similar properties in this market are most often purchased by owner/users. The sales comparison approach most closely reflects the actions of typical buyers for this type of property. SCOPE OF ASSIGNMENT The traditional appraisal approaches include the cost approach, the sales comparison approach, and the income capitalization approach. We have considered all three approaches in this assignment, and determined the sales comparison approach to be applicable in this assignment. The cost approach is based on the principle of substitution, i.e. a buyer would pay no more for a property than the cost of acquiring a like site and constructing improvements with the same utility. This approach is most applicable when improvements are new and represent the highest and best use of the property and for special purpose properties when no comparisons are available. The older the improvements, however, the less reliable the approach becomes, due to the difficulty in estimating and supporting depreciation for older improvements.The subject was built in 1959 and has average depreciation. --A! - - 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 18 ANDERSON CA CP Depreciation is difficult to isolate and quantify in older buildings and this limits the reliability of the cost approach. The cost approach was not developed because it was not considered necessary for credible assignment results, given the intended use of the appraisal. It is the appraiser's view that a buyer in the case of the subject would not make a purchase decision based on a cost analysis. The appraisers have found that the main method of analysis for properties like the subject property is the sales comparison approach to value. Participants in the market are overwhelmingly owner users and do not make purchase decisions based on an income analysis of the real estate, but rather as it pertains to the suitability of the real estate to the operation of their business. Hence, the appraisers have not utilized an income approach herein. In the process of gathering data for the sales comparison approach to value, we conducted a search of our appraisal files and public information sources such as the Palm Beach County Property Appraiser's public access system and the Palm Beach County Clerk's Office, as well as subscription-based information services such as CoStar.com for comparable sales in the relevant market area. We searched for the most similar sales to the subject property. The sales ultimately selected for further analysis were the best comparable sales we were able to find in this market. We obtained and verified additional information on the comparable properties with a party to the transaction, or a broker or agent of the parties when possible. We inspected the interior and exterior of the subject property. Physical data pertaining to the subject property was obtained from an inspection of the premises and public information sources such as the Palm Beach County Property Appraiser's records. Other data pertaining to the subject property was obtained from the Palm Beach County Clerk's and Tax Collector's offices and local planning and zoning departments. The product of our research and analysis is formulated within this report for analysis of and direct comparison with the subject property being appraised. Additionally, we have used original research performed in preparation of other appraisals by this office, which is considered appropriate for the subject property. We make no warranty as to the authenticity and reliability of representations made by those with whom we verified sales, rental, and other information. We have taken due care in attempting to verify the data utilized in this analysis. We based our analysis and conclusions on overall patterns rather than on specific representations. Per USPAP Standard Rule 2-2 this analysis is an Appraisal Report presented in written format. The analysis and conclusions of this appraisal assignment are presented in a narrative appraisal report. --A! - - 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 19 ANDERSON CA CP CRE HAS BIGGEST-EVER SALES QUARTER More than$19313 in commercial real estate traded hands in Q3 Investors purchased $193 billion in commercial real estate during the third quarter, marking a reported record that surpassed pre-pandemic spending by 19%. Apartment buildings, life-science labs, and industrial spaces to support the e-commerce boom drove the record period, according to data from Real Capital Analytics reported by the Wall Street Journal. The report notes sales of the properties surged so much, they canceled out shrinking office and retail markets and defied dire predictions of the sector's crash. The record period is part of a record year for the sector. The Journal reports sales in the first nine months of the year hit $462 billion, 10 percent more than the same time in 2019 and the highest of the same period from any other year. Investors in commercial real estate previously outpaced pre-pandemic figures in the second quarter, spending $144.7 billion. This marks almost triple the purchases in 2020, but $50 billion less than the most recent purchases. Data and analytics firm Green Street's index for tracking property owned by REITs also showed a surge in activity. According to the Journal, the index is up almost 22 percent from its pandemic nadir and 8 percent from pre-pandemic times. The boom is largely fueled by investors snagging a large number of single properties in a multitude of deals, rather than previous booms featuring plentiful portfolio sales, or sales of entire companies. Green Street data show the hot commercial real estate market is being paced by industrial real estate and the multifamily market. The Journal reports that the industrial market has soared 41 percent in value since before the pandemic,while the multifamily market has seen a 19 percent increase in value. The industrial market hit several records in the last quarter, including an all-time low in vacancy and record highs in net absorption and average asking rents. In addition to new deals, developers in the space are setting records this year.A record 521.4 million square feet of space was under construction in the third quarter and approximately 340 million square feet is slated for delivery this year. However, the surges in activity aren't being felt universally across all parts of the industry. According to Green Street data, the value of shopping malls are down 13 percent during the pandemic, while the values of hotels have dropped 4.2 percent and office buildings have dropped 5.6 percent. Source:The Real Deal,October 27,2021 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 20 ANDERSON CA CP PALM BEACH METRO AREA SUMMARY M A R T 1 N ;a' 1 SY.Lucie Gana! Hobe Sountl Indantownv PmnRvinlrr aik aaarremmaro In lu m..um_u-u-umu-u_m_u m.uam w7uesta . . au, re o m Lake �-ivoa � o uper u4,keeca a 'iu e � zlo Canal PovR v o x T. Phokee a Moore Haven `,t a '-r Nlrr:Beach�Gardens a o � m 141 m � ,86o L 'e Park 98 80,- _ CI N'49n Rl4 'srrar7sland Be n.P�tWPxfmBeacA Palm 11s`=`cal Roya�P I oBech A t ! a r7 t i C Belle Glade o _304' sir' J(// plm Beach Ith ar Q tw G C 8 u im �ISou[hBaY �Weflingfirin P GGGr£ P 9s R--I'D A P.A L M B E A C H Grflen cres Laka Wprlh � lgnlana d. H E N D R Y ' c884 ArthurR.M shall en Loaahatchee B honal h`h Wildowe Refuge (1, I o�rayBeach im Hlttadoro `aa1 m aoa` :Canal y 1�. a eos t� W E u L...r��R�m� u;¢utw puma; Pu'j�m n n a mm,t3.anm w t3.. mat m. . caRatnn Y Perklantl 8-06 ' nA each chieltl 61g L}+pre%%Indian Rete-ti- - 6 Coral Sp n9sQ g8q °Pompano Eesch fthlarrde ' Evergkade%Wddlrre.Ma agzlneW Arca Mgrgateo r,C Creek PI rd State K k urth L derdale C Q L L I E R Mca uk e B R 0 W "F R.D f 1 PgnoReach Indian 1 � a arnr lesf Haltlmma7 Rre%erne lerMwn 1 870nr .,6 dsklend Park Geography Palm Beach County is located along Florida's Southeast coast. It is bordered by Martin County to the north, Hendry and Glades Counties to the west, Broward County to the south and the Atlantic Ocean to the east. The northwestern portion of the county is made up of Lake Okeechobee, the largest freshwater lake in Florida. The county is located approximately 80 miles north of Miami and 260 miles south of Jacksonville. Palm Beach County encompasses approximately 2,203 square miles with roughly 1,974 square miles of land area, 229 square miles of water, and 47 miles of coastline. According to the U.S. Census Bureau's 2015 estimate, Palm Beach County has a population of 1,422,789; an increase of 7.8 percent from the 2010 census statistics of 1,320,134. The vast majority of the county's growth has been a result of in-migration from the northern states as well as from Miami-Dade and Broward Counties to the south. Palm Beach County ranks as the third most populous county in Florida behind Miami-Dade and Broward Counties. The county includes 38 incorporated municipalities; the largest of which is West Palm Beach, the county seat. Boca Raton, located at the south end of the county, is the second largest city and one of the highest income retail trade areas in the United States. Miami-Dade, Broward and Palm Beach Counties are known as the "Gold Coast". This area is approximately 110 miles from north to south,but only 20 miles wide at its widest points. This is the second longest urbanized area in the United States,just behind the New York Metropolitan area. --A! - - 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 21 ANDERSON CA CP Transportation Vehicular Travel Interstate 95 is a major north/south thoroughfare that connects Palm Beach County to the southeastern and northeastern portions of the state, and then continues along the Eastern Seaboard to Maine. Florida's Turnpike also passes through the county and provides connections to Miami-Dade and Broward Counties to the south and Orlando to the north, connecting with I-75 around Leesburg, FL. Other north/south highways include AIA, U.S. Highway 1, Congress Avenue, Military Trail and U.S. 441. AIA connects the coastal communities along the eastern edge of the county while U.S. 441 connects the more western communities such as Wellington and Jupiter Farms. There are numerous local east/west roadways with Southern Boulevard and Blue Heron Boulevard providing access to the most western portions of the county including Belle Glade, as well as Florida's West Coast. Airport Palm Beach International Airport (PBI) is centrally located 2.5 miles from downtown West Palm Beach and adjacent to I-95 providing air service for communities throughout Palm Beach County. PBI opened in 1988 and has expanded over the past 30 years. There are currently fourteen major airlines operating with numerous domestic flights and international flights to the Bahamas and Canada. The airport's growth necessitated a direct access overpass interchange with I-95 which significantly improved ingress and egress for the airport. Palm Beach County is also home to four commercial executive airports. Rail Service and Transit There are two main rail corridors in Palm Beach County, the Florida East Coast railway and CSX railway, partially owned by the Florida Department of Transportation to run the Tri-Rail commuter trains.AmTrak is a passenger train than runs throughout the county connecting passengers to other parts of the country. Brightline, the express intercity high-speed rail system runs service between Miami and West Palm Beach with a single intermediate stop in Ft. Lauderdale. It began service in May 2018, with an extension from West Palm Beach to Orlando via Melbourne planned to open in late 2021. Palm Tran is Palm Beach County's public transportation provider for fixed route passenger bus service. It also operates Palm Tran CONNECTION and provides paratransit services for qualified users. Local municipalities and Tri-rail provide various trolley and shuttle services throughout Palm Beach County. Port of Palm Beach and Intracoastal Waterway The Port of Palm Beach is located in Riviera Beach, FL and is an independent taxing authority district with a five-member Board of Commissioners. It has an annual cargo tonnage of 5.1 and passenger traffic of 550,000. It is the fourth busiest container port of Florida's 14 deepwater ports and 18"in the United States. Unlike most ports in the US, the Port of Palm Beach is an export port,with approximately 80% of its cargo being exported. The majority of the cargo goes to support the island nations of the Caribbean, supplying 60% of everything consumed in The Bahamas. The Intracoastal Waterway represents one of Palm Beach County's most identifiable marine destinations. Roughly 43 miles of waterway serves as a regional connector between 23 of the county's municipalities. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 22 ANDERSON CA CP Economy At 2,000 square miles, Palm Beach County is the largest in area for the State of Florida. The county had experienced favorable demographic and economic conditions over the past five years until March 2020 with the onset of COVID-19.Although job and demographic growth had outpaced the U.S. across the board for the past several years, this area was dramatically impacted by the coronavirus pandemic which caused economic conditions to change rapidly across the world. The county's current population of 1.5 million has grown by close to 15% over the past decade, more than double the rate of the remainder of the country. In early 2020, the county's labor market had grown by 15% over the past five years. The unemployment rate according to the U.S. Bureau of Labor Statistics for November 2021 is 3.5% with an annual change of -0.9%. Palm Beach County has benefited from Florida's lack of a state income tax and post-pandemic has seen an even greater influx of wealthy individuals bring significant parts of their wealth and business to the area. The tax dynamic, combined with a very strong business services infrastructure and a large talent pool, has created more jobs, however, unemployment remains slightly higher to pre-pandemic rates. Palm Beach County's 650,000 strong labor force is service driven, with over 80% of the labor force employed in private service provision. Trade and transportation are the largest sectors with close to 20% of the county's jobs. Palm Beach County's agricultural output ranks the highest in the state nearly doubling that of Miami-Dade. It consists of over 1,400 farms with over $1 billion in sales of crops and a $10 billion economic impact. The largest employer in Palm Beach County is the Palm Beach County School Board, the tenth largest school district in the United States, with close to 23,000 employees, 197,000 students and a $4.1 billion dollar budget for the 2021-2022 school year. Palm Beach County employment by industry is shown in the following table. PALM BEACH EMPLOYMENT BY INDUSTRY IN THOUSANDS CURRENT JOSS CURRENT GROWTH 16 YR HISTORICAL 5 YR FORECAST Irulaas" 9mtis LQ F."w us V.rket us Mk0 us Manutactur ng 20 0.4 2631% 3.52x6. 304% 0.69 3 'i,.n j, '11111 Trade,Transportation and klvlGties, 115 1.1} 339% 251% 1 571N. 0.91% 0.5:8% 0.34% Retail Trade 78 1.2 3.10% 185% 1.28% 0.",% 0_73% 0.33% Fi.nancisIAcivitres X4'6. 1.2 1.38% 1.55% 2.271 1.43% 0.37.ai9.. 0.69% Government E1 0.6 215% 2.47% f i I11.11, 0.G3% 1.64% 0.62% Natural Resouaces Aiming and Conalruction 39 1.1 251% 320% 4.96% 2.49..% 0.91% 0.64% Educabon and Health Se€'vices. las 1,.13,.. 161%% v20A 2.45% 1.684% 1.10116 1 091+1a Prodi onxi and Busirie'.sa Services 119 1.3 1 79% 9.x+24 2.92% 1.94% 0175% 1 177°% Inforrnarion 10..... 0.8 889% 6611. 0.96m% 0574;% 4854,% i28% Leisure and Ii.osppta%, 917... 1.3 13,60% 16.37% 2.30% 1.48% 1 30-^.%.. 1.99% Other Services 34. 1:4 666% 534% 1.71% 0.699% 045% 0.57% Total Employment 439 7.4 4.3595 4,645 244% 1.19% i 0.87% 0.81% While jobs opportunities have returned to Palm Beach County and a growing number of people are moving to the area from other states, unemployment remains an issue as employees post pandemic choose to make career changes or work from home. Some businesses are open shorter hours or closed altogether because of a lack of employees to make operation feasible. The nation's economy continues to be affected by the coronavirus pandemic; however, economic conditions are improving. The diversity of Palm Beach County's workforce with no one industry accounting for more than 20% of the jobs has helped to insulate the market from higher losses. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 23 ANDERSON CA CP Commercial Real Estate Industrial Leasing-Industrial vacancies in Palm Beach Metro are the lowest in South Florida and more than 100 basis points tighter than the National Index rate. Rent- Annual rent growth is 9.5%, the highest it has been in over twenty years. At $13.60/SF rents are about 40% higher than the remainder of the country. Construction-Construction in the metro added about 3 million SF since the start of 2018. Roughly 910,000 SF or 1.4% of inventory is underway and 1.7 million SF delivered over the past 12 months. Sales-Unlike other South Florida industrial markets, Palm Beach's investment activity does not appear to have been negatively impacted by the coronavirus pandemic. The metro set a record for annual transaction volume in both 2020 and 2021 with average pricing at$160/SF. Overview 12 MID deliveries in SF 12 Mo Net Absorption in SF Vacancy Rate 12 hyo Rent Growth Aft 1 ■ 2.3M f 0-7/0 9.60-7/0 0 Industrial vacancies in Palm Beach have Borne dowel under construction. steeply In regent quarters The vacancy rate in Pale While the Influx of new supply is a concern market Beach Is one of the lowest in Florida and Is more than fundamentals have held tap well over the past few too basis points Ilower than the National Index rate At quarters„and strong leasing volume has led to about 2.6%,the vacancy rate is near the record low for impressive net absorption Palm Beach has also fared the market.A slowdown in development In recent years well In teams of rent growth bent eachgrowth has slightly has helped peep the mate rte but with 11-r million activity outperfon-led the nationA average over the past few has returned Irl recent quarters,with 1.r rnlllion F quarters - KEY over the past 12 months and 910,000 SF KEY INDICATOR Net bsrrrarirars,, „ Under Current Quarter RBA Vacancy Rate Market.Rent Avaida6ilntp Rate Deliveries S� F construction Logisbcs ;2.837 8449 3.2% S1311 4 5% 49 417 0 881,412 Specialized rndustlai 11,527,779 11f 512,50 17% 2,996 0 o Flex 11,536 667 % $16,55 30% 3,596 4 26 952 Market 6%90 2.6 $13.69 Skoog 0 908,364 Anneal Trends 12 kunnth Historical A recaveragst Peak When TKough When Vacancy Change(YQY) 1 s":,. 5.2% 3.1% 11.1% 20-0904 2.5% 2017 Q4......... Not Absorption SF 2 3M 663,842. 1,065,979 2,323 160 2021 Q.2 t2 36:,9421 2DO9 Q3 Deliveries SF 1-7M 810,9198 1,270,331 2 137.197 2021 02 29,960 2013 Q4 Rent Growth 9.5% 2.5% 4-7% 9-6% 2021 Q4 42='.I; 2DO9 Q4 Sales Volume W7M.. 8201.8ki rl,�A 36n-sm 2021 04 $35.5bA 201001 --A! — — 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 24 ANDERSON CA CP Office Leasing- The Palm Beach office vacancy rate has compressed over the past few quarters, marking an improvement compared to the quarters immediately following onset of the pandemic. The vacancy rate of 9% is roughly equal to the metro's five-year average. Rent-Office rent growth has rebounded in Palm Beach in recent quarters immediately following the onset of the pandemic. Construction-The office pipeline has slowed considerably in Palm Beach over the past few quarters.Nearly 1.5 million SF was under construction in early 2020,but only about 420,000 SF is currently underway. Sales- Office sales volume has surged over the past few quarters, and the metro smashed its prior record for annual deal volume in 2021. Average same-store pricing has increased in recent quarters, contrary to the national trend of flat price growth. Overview 12 Mo Deliveries in SF 12 Mo Net Absorption in SF Vacancy Rate 12 Mo Reit Growth % . -7 . /0 Office demand has improved in Palm Beach in recent still faces near-term uncertainty due to the pandemic, quarters after weakening due to the coronavirus Palm Beach owners are likely to remain in an pandemic. Net absorption has trended positive in each of advantageous position to push rents over the next few the past four quarters,and the metro's vacancy rate has quarters as long,as recent leasing treads persist. fallen to 0.0%,which is near the market's five-year average of 8%-The metro has landed a handful of After slowing in 2020 arttid the coronavirus pandernic, sizable office expansions in recent quarters headlined by transaction activity has picked up since the start of 2021. NewDay USA and Goldman Sachs,which each signed heals like the January 2021 sale of Philiips Point for major deals at the grand-new 3010 000-SF 3,60 $281.85 million and the May 2,021 sale of the office Rosemary in 2021. component of CrtyPlace West Palm Beach for$178 million have boasted annual sales volume;in Palm Owners are capitalizing on improving market conditions Beach Furthermore,values have appreciated here over and are raising rents again in Palin Beach County_ "ear- the past few quarters,contrary to the national trend of over-year rent growth of 6_0%is far outperforming the relatively fiat pricing since the start of the pandemic. national benchmark of 04%_Although the office sector KEY INDWATORS Cr Mnt RRA V.Winne`"a Morkni: rat Am.iiabwty` W Hot A o ce�r rpO n rk-lf ,Ws Sf � Under �rCdssn 4&5 Star 15.145.(753 12.6% 547.79 17 i5°4 83.507 0 :Z06,906 3 Star 219,335,933 86% S35,92 10,8% 57i, 6j XODD Iko,811f 1&2 Stair 14410, 37 5.M 530,90 61% 4W 0 0 5a,,,881,623 - $37;7$ l8d 1 6% 46.021 400 4111k647 A�nuallrrands it M Av-ram.,. A. q-jg s... Peak l it 1"s ragFa When Vacancy Change I.'YOY) r qy,,.,, 11.2% 84% 15 9%, __.201003.. 6,6% 21000 02 Net SsAxim[wn:SF 1 ar"I 553.027 470.947 2,200,4,92 2004 a4 27,18%) Zoos 01 Defivenes SF _. 6,32K. 62,8.51 450.553 2 6815,1..,.13 2006 Q4 65,949 2012... Q2 Reit ny-ma 6,01% 2 5% 441#1,t 9.1 20080's 2-00004 Sales)/shire 52,38 77 W ?VA $Z38 2021 C4 3,99 Ohl 20090-4 --A! - - 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 25 ANDERSON CA CP Retail Leasing- Retail vacancies have remained relatively flat in Palm Beach; however, leasing activity and net absorption have improved of late and the metro's vacancy rate of 4.3% is only slightly above where it was pre-pandemic. Rent-Retail rent growth is some of the highest in the nation. Rent growth has improved in recent quarters at 4.9% outperforming the National Index of 3%. Construction-Retail development has been elevated in Palm Beach for the past three years. Construction starts slowed in 2020,but picked up again in 2021 There is currently about 420,000 SF under construction. Sales-Retail investment has been steadily increasing in Palm Beach in recent quarters after dropping off in the early months of the coronavirus pandemic. Deal volume has picked back up over the past several quarters with average pricing of roughly$300/SF well above the national average of$230/SF. Overview. 12 Mo Deliveries in SF 12 Mo Net Absorption in SF VacaniDy Rate 12 Mo Rent Growth 1 937 4.3 /0 4.V /0 Palm Beach's retain market was hit hard by the initial only 0.5 gym of the metro's current inventory,some of the effects of the coronavirus pandemic, but the metro has space underway is unleased,so new supply should putt recovered over the past fear quarters Due to some some upward pressure on the metro's vacancy rate raver rnove-outs and the influx of neyw supply,the market's the next few quarters. vacancy=rate rose to about %in mitt-2020. However, leasing activity and net absorption have improved of late, Bent growth has improved lin recent quarters and and the metro's vacancy rate has drifted lower an recent continues to outperform the national benchmark_Annual quarters, growth of 4,9% ranks Palm Beach as one of the strongest major markets in the country)in teres of rent l etafl construction activity has cooled in Patin Beach growth,and the market is performing similarly to other since the onset of the pandemic,and there is about south Florida metros like Mlar i and Fort Lauderdale. 420,000 SF under construction While this represents HEY 04DIC.fi1TOR SF Delreeffkm SF Construction M2N s 9 784,2 e 9 4 3%...:.. $34.27 2.9%,, 18,259 0. 0 po.w Coater 3,543,225 81% S33 48 8,2% 0 0 4,.. Nesghsre3'n�d Center 29 8,3r5,548 6 9% $28,73 7,2'N i 4r 5, 0 159,478 Step Center 5,040,190 4 2axc $27.2.9 3.7%i 792 0. 26.000_____.. Gedie*Retail 30,271,282 2.6% 529.65 3.4-6 +5,00Q 233,070 Career 1,379.377 1-Vi $38.05 5.2 9116 4 0 22,493 Mawket "1054j847 4,3% v 7,567 0 415®047 Anmnd Trands 12 Month NSWWA... A r peak' T n Avef2geVaaaftc'Change i"OY) L ^.J 8 7% 4-2% 8.8% x;016 01. 3.4% _2439+3 01_. Nde,tAbfpmara'>F 037K 5:30.E1BS 551,276 1,522M8 210160 5s�8,7PQ+ 2200003 DeIrvenes SF 5144 714.011 5M,337 2.532,507 2005 04 190,13,04 2412 01 Rem ro.-@h 4.:9% 1,9% 3-8% 6,0% 2.$01701 0 4N 2009 C,2. salmi VQEU-e $1.28 5651 14 4"+1A S1,59 2035 Q0 S11415.TAA 200903 --A! — — 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 26 ANDERSON CA CP Multi-Family Vacanep Apartment demand has surged in Palm Beach in recent quarters, representing an impressive recovery from the effects of the pandemic. Trailing 12-month net absorption of 4,600 units is far above the metro's five-year annual average of 2,500 units. Such strong demand has helped push the market's vacancy rate to 4.0%which is far below the metro's 5-year average. Rent-Rents have skyrocketed over the past few quarters with year-over-year rent growth of 29.7% ranking Palm Beach as one of the top markets in the country. Palm Beach has outperformed the national average for rent growth by a significant margin of late and is also outpacing rent gains in Fort Lauderdale and Miami. Construction-Construction activity has ramped up in a big way over the past few quarters, as developers have looked to capitalize on strong demand and rent growth trends. Roughly 6,400 units are under construction. Sales-Sales volume has surged over the past few quarters and trailing 12-month deal volume of$3.0 billion is by far the record for the metro. Impressively,price growth has accelerated over the past few quarters and year-over-year price appreciation is far outpacing the national benchmark. Overview _.._. _._..__...._._ f 12 Mo,Delivered Units 12 Mo.Absorption Units Vacancy Rate 12 Mo.Asking Rent Growth Y2 4)574 4. _0 291`7`0 The Palm Beach apartment market took a slight hit in the apartments here.Roughly 6,400 units are tender months immediately following the onset of the construction across the metro,or about€3 8%of coronavirus pandemic,but demand and recut growth have inventory.Palm Beach now has one of the largest surged over the past few quarters The metros vacancy construction pipelines in the country as a percent of rate has fallen considerately in recent quarters,boosted inventory.These neve units should cause the markets by record demand for apartments fawners have vacancy,rate to rise and rent growth to moderate as they capitalized on the improving market conditions and have come to market over the next several quarters raised rents at a breakneck pace.Year-over-year rent growthof 293%ranks Palm Beach County as one of the Investors are pouring capital into Palm Beach multifamily tap malar markets in the entire country for rent grow=th, at a record clip and roughly S3 to bullion worth of and nominal asking rents are now roughly$600!rnonth multifamily properties has changed hands over the past higher than where they sat right before the pandern"rc. 12 months.Impressively,pricing has appreciated at a much faster pace than the national benchmark in recent While key indicators are trending in the right direction in quarters,owing to the competitive investment scene and Palm Beach County,the metra is facing a significant the impressive demand and rent growth recovery in Palm supply wave,as developers are mashing to break ground Beach County. on new projects to satiate the strong demand for KEY i'..N'...DIC:ATORS. c.—A Q..ft 17.A gra:_r R.I,�... Askm x F-t et re: "biar°s.. D�fl .d U.wa . tp.dc �� 4 8 S St r 32 812 4 8% 52,672 $2.682 23 0 5,641 3 Sta,... -76.874 3.8ny n2,616 x2,007 2A... d 736.. 1 8 2 Stir 13.580 2.7% S1.400 S1,397 2s d 516- s 2" 4.0% $2,279 'S2�"o 43 o 6,427 Ae...I Tac d. 12 L9ex.Z 1$96RA§II.— F_ P.a wh.. T—gh 1 ea V.—y Ch—g.(Y0Y) 3+:',:, 7.7A' 5.5.X 16.0% 2C10s 01 3.6% 2021 03 ,Ab—pb—Units.... 4,574 1 337 _ 2,798 5.309 202103 177 _ 2006 Q3 C:-iiuered Units....... 2,244 .........1,3138 3,303 .........3,332 2018.113 Q 2011 Q4 D.rnofi.hed Ur,its... 4.. 62 76.. 396 21118 01 C 2020 Q3 A.krng R—t^Gro th iYOY1......... 29_7% 3.6% 6.3% 30,8% 2021.04 -2,9% 2008 03 Effective Rent G—vosth NOY}.... 3081N. 3 6% 6.3% 32-74. 2021 Q4 -2_8� 2005 Q3 SaOes`JN.— $3..113 '5652 1M Nt'A 83.0.13 202104 563-9MA 211117 03 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 27 ANDERSON CA CP Residential Real Estate r w 1 11home mrfiOl Homey S>£2f(,54),-,, m'K.t31"YC �=l4o�wd``i 't£j� reur liPprtr �tb Py , I; i a.q,,p y° £ €6rantr4 refit T"w1houle4condes 200aN :® S 2 655 iDc 0 S 24111"19,6 t, 2 �'�'P�h�P,"6H' �� w a t�'t 4�tB a3��£ £''".d; �'w 1 a a,a*rvP.;r°' sit pp 11 i e 1 1 N,��sr�fi �;; fd,.�r4�S�,��'��ru�,n �.� B E S 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 28 ANDERSON CA CP Economy DEMOGRAPHIC TRENDS Current Level 12 Month Change tQ Year Change 5 Year Forecast Demographic Category Metro us Meh o us Metro us Metro LIS Poputalion 1,5107808 332,610t656 0.91% 0_2% 1.2% 0.6% 1-2% 0.5% Households 572,975 124,212,172 0.9% 0_2% 0-9% 0.7% 1-2% 0-5% Median Household Income $68588 $69,324 5.2% 7.3% 34% 3,2% 23% 3,6% Labor Force 751,220 162,656,500 6.1% 1-3% 1-5% 0.5% D-9% 0-6% Unemployment 4_8% 5.2% 0.2% 5rk.rc 41 53 Source:Oxford Economics POPULATION GROWTH LABOR FORCE GROWTH INCOME GROWTH 'X k Wlxllh '10 Y FA fer 10 ft �2r' ! h I C,,Y C hw�qe, 15'V chwup chaqIF Sotace:Oxford Econom�cs Conclusion Some of the factors that fed Palm Beach County's past growth diminished in 2007 with a decline in the national economy which included reduced home prices and high unemployment. This trend continued until the middle of 2011 when signs of stabilization began to emerge. In the fourth quarter 2011, sales activity began to show signs of recovery and a slow but steady rebound in the market continued through mid-March 2020. Drastic changes happened at this time due to the onset of the Covid-19 pandemic which forced the closing of schools, retail stores, restaurants and all non-essential businesses. As of early 2021, the availability of vaccines accelerated the economic recovery in South Florida and as of mid-2021, the market recovered to pre-pandemic levels. Due to a large influx of population from primarily the Northeast, prices have increased and the residential market is flourishing through the beginning of 2022. The outlook for Palm Beach County as compared to many other areas of the country is considered positive due to the broad employment base and desirability as a winter tourist destination. As population grows, more supporting commercial, industrial, and service development will be required. These factors, combined with a finite quantity of developable land create a positive real estate outlook for the future. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 29 ANDERSON CA CP NEIGHBORHOOD SUMMARY ey, STV'd, ............................ II NW22.n (M f pp h� er jr, p6r 1 NE iz-T%h"Ave y 'bi . ............ !77`1J -h L 171 '1 ?!j f ............ DrS .......... q� Ave N X ............. j 1213 NW 4th st Boynton Beach,FL 33435 L -7 lffmmn' VI I I,qW I 31'� 'Centers 9ln So"Llth 'Centeir f�lE I'l __ I............. th Ave--1' . ........................ M -7' I T-1 ...... ..... lfq, ....................... 1016__ ............ .... ................ ....... . I............ F h 0, .................. e Oce; NW- t V ............. .......... "R on, -—------------- ---------------- - ----------- ................. ............ ............ -------------------- A Plw_::118t:�:: N W ISt-A W E 06 -0 a.nAAVb L It The subject property is located within the boundaries of the Boynton Beach Community Redevelopment Area. The subject property is in a residential neighborhood known as "Cherry Hill"within the boundaries for the Heart of Boynton Beach District of the Boynton Beach Community Redevelopment Plan. The neighborhood is general bounded to the north by the C. Stanley Weaver Canal, 1-95 to the west, N.E. 3rd Avenue to the south and the FEC rail line to the east. The area is within walking distance of the Cultural and Downtown Districts. Boynton Beach Boulevard is a primary east west commercial corridor that extends from US Highway I west to State Road 7. US Highway I to the east, along with 1-95 to the west, serve as the primary north south arterials. The surrounding properties are residential in nature with single and two-family dwellings. Some multi-family housing is found closer to the major roadways such as Seacrest Boulevard and Boynton Beach Boulevard. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 30 ANDERSON CA CP 1 rt,�, Subject Property ` r !�rrh- (} f \ 4 Wyl fi 1 )j 412 �r �� -' �` "`� Heart of Boynton District Boundaries *� fP The Heart of Boynton District is a 380-acre neighborhood developed predominantly with single-family homes. A major arterial road—Seacrest Boulevard—runs through the neighborhood north/south. Martin Luther King, Jr. Boulevard, once lined with locally-owned businesses, runs east/west. There are two public elementary schools in the neighborhood, Poinciana and Galaxy. Both schools are STEM schools (Science, Technology, Engineering and Math). There are a number of parks and special use areas within the neighborhood, such as, Carolyn Sims Community Center, Galaxy Park and Scrub and Sara Sims Park as well as several neighborhood churches. The neighborhood has several parks, two public schools and numerous churches. Unfortunately, it has been the victim of disinvestment over the last 50 years. The two Census blocks of Tract 61 which encompasses this District have the lowest median household income in the city. This neighborhood has historically battled crime; however, with the implementation of the Redevelopment's Master Plan, the neighborhood should benefit and have a positive real estate outlook for the future. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 31 ANDERSON CA CP PROPERTY DATA Taxpayer of Record Alberta Bell Living Trust Palm Beach County Property Control Number(s) 08-43-45-21-14-000-3960 Assessed Value and Taxes for 2021 The following information was taken from the Palm Beach County Property Appraiser's and Tax Collector's web sites. Appraisals Improvements Land Total Value $84,305 $60,498 $144,803 Assessed and Taxable Values Assessed Value Exemption Taxable Value $144,803 $0 $144,803 Taxes Ad Valorem Non Ad Valorem Total Tax $3,073 $1,931 $5,004 A typical informed buyer would recognize the possibility of a reassessment following a sale of the property and the possibility that taxes could change as a result,if the assessed value is substantially different than the true market value. Our value conclusion does not discount for any taxes owed on the property, current or delinquent. The value assumes the property is free and clear and not subject to any prior year's delinquencies or outstanding tax certificates. The appraisers strongly suggest any potential buyer, mortgagee, or other investor in the property fully investigate the tax status of the subject property with the County's Tax Collectors office. --A! - - 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 32 ANDERSON CA CP Census Tract The subject property is located in census tract 0061.00. Census Tract Map Census Demographic Data !uf 'I�'13�l d 4TH 8T BOYL T t,BEkGH E 3.ri435 V' ' ns slateCm,Taoc 4;,4zs-i 99OMI00 Cen u' Sncume Pppulatian Hauser L ,,a,l - 11� � T?54P9 ,� T !I s L Model ate N;i, phi .,.. �a•r+ ,,� o f 1T 1 rm O 'FFI10 Ftet td115-iBD n III_11 7 F ns mond elc1 � T OI at d F 141 135 4 05 01FC.tlT tE fl; ,.. L.lraT3 a,Fail 9.2 0)5 7.12 _af1aIi Tin,P E 4041 G ' { .rr T ; 2VM 1 r 1 hn iYCiETF. I c;114 L1fu (J : •h Pars F JJ�,::O'aOc c Subject Property 1 j( ry mrNI 11T IAA 1.LLt k BI:'J f 6 f'itun Beach .... .r �: f ..`.4Th�.0 fIL LTi tr � NTEl- Aa0 4 do II _ HE G N St iT A. x u z; ✓ N, tt 1SL tl J .e J '.e D ti EO.ea BE is[ d.N,A 111,7 uL� Q6Iae rL u J41IiA— .E IT A, h:. r FT� REcl+tf C1 f ,C;T s Th.., He iz� E3 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 33 ANDERSON CAPP Flood Zone Designation The subject property is located on the National Flood Insurance Program Map on Community Panel Number 12099C0787F, effective date of October 5, 2017. The subject appears to lie in an area designated as Zone X (unshaded). Flood Zone X (unshaded)is determined to be outside the 0.2% annual chance floodplain. Flood Map National Flood HlazardLayer FI M tt ,,, 9 J re t1 Legenct G d 1#l.R'I:YDE"fd 86 1019 eltl.sfx.r1M crl Llw ti. Pf-fid P—EL a yams rt I m �., 0 ff �. KAZARD A,E&S >w ,.y FI.A� 1& 1 Me W%tlY � n I err '.4 1 L- rf� � A—waw AMW r,-a"k—ill, WD MAZA,PD a-. -lt u-ave ,L-,-- A,— -,—R M.1—I H— eH ��4��ir fi Lwx tR.a 6f}aglH Subject Property S. —q,Wm$vwvr GLIM-TURES Sj I Cii #k$arsozr �eky.. n� X 1 ��4 .041, _ ,�.�.,.0 near r x —.-�.� d m rar m lr _ S!`PFM1kSR M1E.SiL1pE- .. .... H6xDrcaLu2HPa` �aYtx•w �1y il}i1 1 �t> R4.1.fI� IdW1L f"�tlFf1 .a4APYi - y LIN$9Y,a1 X64 dv 1144M1a N.G o .5aw&3 moble kh I � Ih lwpv.. Mna asMan Veure— S g t 1'�. ( } IiBpUt Yht.�d 9 IY Rri G os+s x afstl si tlPM1 e1 r11 "d htz In rn Mur 9.� loo u� �u�nmi+tr�rtilam��rm�a F�mr,�rn ams r� 0 ?50. 500 ".:CAIS 1,51]C �.l00 tsann�x�,+,mun rona. a sax'i1.ab:-'.'`* AtaDpaar Mai'a.1e"wv�nva s}.•77ara reifieleo,) Dee,�?O: , 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 34 ANDERSON CA CP Zoning and Future Land Use The subject property's use is dictated by the Boynton Beach Zoning Code and Comprehensive Plan. The Boynton Beach zoning and future land use maps indicate the subject property has a zoning designation of R2 Duplex (10 DU/Acre) with an underlying land use designation of MEDR - Medium Density Residential. The current zoning is in harmony with the future land use designation. Permitted uses under this zoning category generally include, but are not limited to; single and two-family detached dwellings; group homes; government and municipal offices and community gardens. The subject's current use as a convenience store is not in line with the current zoning as a permitted use. The subject appears to have been grandfathered in and is considered a legal non-conforming use. The use can carry on indefinitely. However, should the use stop for 6 months or more or the business license lapse for a similar period the grandfathered status is lost and the convenience store will no longer be allowed.Also, should the property be destroyed,it would have to be rebuilt to current zoning standards,which precludes commercial uses. The appraisers have not independently verified that the subject complies with current site development regulations (setbacks, site coverage, etc.). It has been assumed that by virtue of the subject's on-going use, should there be any areas of non-compliance, a variance has been issued or some other form of special exception has been made. Concurrency The strongest growth control measure ever imposed was passed by the Florida Legislature and became effective on February 1, 1990. This was mandated by Chapter 163, Florida Statutes, otherwise known as the Growth Management Law. One provision of this law is referred to as Concurrency which dramatically limits the ability to develop real property. It is basically the requirement that adequate infrastructure be available to serve new development. Eight types of infrastructure are affected including traffic, potable water, sewer, drainage, solid waste,recreation and open space, mass transit, and fire rescue. In May of 2011, House Bill 7172 amended the Growth Management act in an effort to spur economic growth through streamlining and lessening growth management controls. Transportation concurrency requirements were exempted in dense urban land areas with populations of at least 1,000 people per square mile. Also, within dense urban land areas, the DRI process has been exempted. State review of local comprehensive plans was streamlined and zoning changes are now allowed to be considered concurrently with land use plan amendments. It is the appraisers'understanding that the subject is not subject to any concurrency restrictions. Should the property be altered or redeveloped, the matter of concurrency would need to be revisited at that time. Utilities The following utilities are available to the subject property: municipal water and sewer, electricity, and telephone. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 35 ANDERSON CA CP Subject Property Sales History The appraisers have not been provided with a title abstract on the property appraised nor have they conducted a title search of their own. The Palm Beach County Property Appraiser's records indicate that the subject property last sold on 1/9/2017 for a price of $0. This sale was recorded in Palm Beach County OR Book and Page 28841/1553. The subject property currently has an active listing in the local MLS. It was listed on January 18, 2022 at an asking price of $400,000, which amounts to roughly $278.36 per square foot of building area. The listing agent is Melvin Michael Wimbush with Atlantic Florida Properties,Inc. Site Analysis The following analysis is based upon a personal inspection of the site and Palm Beach County Public Records. Location The subject property is located at the southwest corner of Northwest 4th Street and Northwest 12th Avenue, within the municipal limits of the City of Boynton Beach. The property address is 1213 4" Street, Boynton Beach, Florida 33435. Size and Shape We have relied on the site size for the property from the appraiser's calculations based on information obtained from the Palm Beach County Property Appraiser's online public access system. The site is a roughly rectangular shaped parcel of land having roughly 50 front feet along the south side of Northwest 12th Avenue and roughly 102 front feet along the west side of Northwest 4th Street. The subject site area is approximately 4,967 square feet or 0.11 acres. Topography and Drainage The site is level and near road grade. Drainage appears to be adequate for its current use. No apparent drainage problems were noted during the inspection. However,we have not had the opportunity to visit the site during a time of heavy rainfall. It is assumed that the subject does not suffer from any detrimental drainage problems. Access Vehicle access is via Northwest 12th Avenue to the north and Northwest 4th Street to the east. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 36 ANDERSON CA CP Easements or Encroachments Typical utility easements are believed to exist. The survey that was provided did not delineate the boundaries of any potentially detrimental easements or encroachments. The appraisers did not note any such conditions during our research and property inspection, nor did the property owner disclose any. We have no reason to believe that there are any easements or encroachments on the property that would affect its use in such a way as to have a negative impact on value. Soil/Environmental Conditions We have not been provided with nor have we commissioned a soil or sub-soil condition report. The appraisers have no reason to believe that there may be hazardous materials stored and used at the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea-formaldehyde foam insulation or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value. No responsibility is assumed for any such conditions, or for any expertise or engineering knowledge required to discover them. The client is urged to retain an expert in this field,if desired. Site Improvement Analysis Site improvements include asphalt parking lot, concrete sidewalks and some chain-link fencing. Building Improvement Analysis We have relied upon a personal inspection of the building as well as the Palm Beach County Public Records for the following building description. Year Built: 1959 Building Area: 1,443 square feet Site Area: 4,967 square feet FAR/Lot Coverage: 0.29/29 % Foundations: Concrete slab on grade Basic Construction: Concrete block Exterior Finish Stucco Roof Support/Covering: Flat roof, (the covering was not inspected; however, it is assumed to be typical built-up or membrane type covering in good working condition) Roof covering was reportedly replaced 2020. --A! - - 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 37 ANDERSON CA CP Doors: Glass in metal frame main entrance door and hollow-core metal rear door Windows Fixed glass in metal frames Floors: Commercial grade vinyl Ceiling: Drop acoustic tile Interior walls: Drywall Lighting: Assumed to be adequate Electric service: Assumed adequate for the current and other typical uses Plumbing: Assumed adequate for the current and other typical uses Heating and Cooling: Central HVAC Parking: Parking appears adequate with 7 marked spaces equating to roughly Building Comments/Condition: Property appeared to be in average overall condition. No signs of any significant deferred maintenance were noted during the appraisers' inspection. Building Area Calculations/Floor Plan The appraisers have not measured the building improvements. were requested but were not made available. We have performed our analysis utilizing the following sketch based on measurements taken from the survey provided by the property owner. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 38 ANDERSON CA CP 6-.F* 57.7' 3C k�. 1= AREA CALCULATIONS SUMMARY IBIJILGD4G AREA BREAKDOWN Da rlot[W net sm NMTDfift Bmakdo m suvwfma GBA1 First Tarr 1443.3 1443.3 First Floor 51..4 x ff.,5 433..5 17.,5 x 57.,7 1009.B Net BUILDING Area (rounded) 1443 2 Item; grounded) 1443 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 39 ANDERSON CA CP HIGHEST AND BEST USE The Appraisal Institute defines highest and best use as follows: The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum productivity. Alternatively, the probable use of land or improved property—specific with respect to the user and timing of the use—that is adequately supported and results in the highest present value. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, 6th ed., Chicago: Appraisal Institute, 2015). The analysis of highest and best use normally applies these considerations in a three-step process, involving the analysis of the highest and best use of the site as if vacant, determination of the ideal improvement, and a comparison of the existing improvement with the ideal improvement, in order to estimate the highest and best use as improved. As Vacant The subject site is of sufficient size and configuration that it could physically support numerous uses, limited only by the fact that such uses must be legal, reasonable, probable, and a logical continuation of surrounding uses within the subject property's neighborhood. The subject is zoned R2 Duplex (10 DU/Acre) with a land use designation of MEDR - Medium Density Residential. Any number of single family or duplex uses would be legally possible. It is located in an area that is developed with a variety of uses. In consideration of the site's location, land use classification, zoning and surrounding uses, the highest and best use for the subject, as if vacant, would be development with some type of single family or duplex building in keeping with the zoning,land use, and neighborhood uses. As Improved In the process of researching the subject market, the appraisers have determined that the subject improvements are substantial enough and in good enough condition that they add value to the site and it would not be economically justified to remove them at the present time. In consideration of the subject's location, land use classification, zoning, surrounding uses and type and condition of current improvements, the highest and best use for the subject is the current utilization of the existing improvements. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 40 ANDERSON CA CP EXPOSURE AND MARKETING TIME Exposure time is: 1) The time a property remains on the market; 2) The estimated length of time the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal; 3) A retrospective estimate based on an analysis of past events assuming a competitive and open market. Marketing time is an opinion of the amount of time it might take to sell a real or personal property interest at the concluded market value level during the period immediately after the effective date of an appraisal. Marketing time differs from exposure time, which is always presumed to precede the effective date of an appraisal. Advisory Opinion 7 of the Appraisal Standards Board of The Appraisal Foundation and Statement on Appraisal Standards No. 6, Reasonable Exposure Time in Real Property and Personal Property Market Value Opinions address the determination of reasonable exposure and marketing time. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, 6th ed., Chicago: Appraisal Institute, 2015). Financing for commercial properties appears to be readily available at this time. Most properties offered for sale have been exposed on the market for six to twelve months or longer. The CoStar Group reported the historical marketing times (exposure time) for 97 properties under 5,000 square feet in size they classify as retail in Palm Beach County from January 1, 2020 through March 30, 2022. The marketing time ranged from roughly 0.9 to 134.6 months, with an average of 12.1 months and a median of 6.8. We note that the Costar data can be skewed by many properties that were significantly overpriced by unmotivated sellers and/or were not properly marketed and languished on the market for several years. Looking at those properties that were on the market for less than three years the average falls to 7.9 months, more in line with the median. We believe if appropriately priced and marketed, the subject would sell in the lower portion of the time frame range exhibited by the CoStar data. Properly priced properties sell more quickly. Considering the preceding, as well as sales that have taken place in the local market, and assuming a prudent pricing strategy, we estimate an exposure time of 6 to 12 months. Looking forward, we feel this would be a reasonable estimate for marketing time as well. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 41 ANDERSON CA CP SALES COMPARISON APPROACH The sales comparison approach is the process of deriving a value indication for the subject property by comparing market information for similar properties with the property being appraised, identifying appropriate units of comparison, and making qualitative comparisons with or quantitative adjustments to the sale prices (or unit prices, as appropriate) of the comparable properties based on relevant, market- derived elements of comparison. (Appraisal Institute, The Dictionary of Real Estate Appraisal, 6th ed., Chicago: Appraisal Institute, 2015.) The sales comparison approach requires that the appraiser locate recent sales of similar properties and through an adjustment process arrive at an indication of what these properties would have sold for if they possessed all of the salient characteristics of the subject property. These adjusted sales prices are then correlated into an estimate of the market value of the property via the sales comparison approach to value. A search of the Palm Beach County official records, local multiple listing service records, discussions with local brokers and appraisers and a personal inspection of the subject area produced several sales of similar type properties. The sales used in the analysis were the best comparables that we were able to verify with public records and/or a party to the transaction. The following pages feature a detailed write up of each comparable used in the analysis, a location map and summary of the selected comparable sales data, which is followed by a discussion of the pertinent adjustments and conclusion of value. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 42 ANDERSON CA CP SALE NO. 1 - 435 West Boynton Beach Boulevard, Boynton Beach, FL 33435 AC File No.: 2220140.000 ID: 912622 2 i!i s5 � �rrrtr3r }r i�}irl4 i:'s JAL t.— ifr trr }i4{�£� 11f r�pp 4 1. f a r r . r OR Book/Page: 31507/0852 Type: Retail Sale Status: Sale Sub-Type: Single Tenant (Retail) Date: June 5, 2020 Grantor: Marian Parsons as PR for the Estate of Richard Paul Parsons Grantee: JLG Goodtime Group LLC Legal: The North 50 feet of Lots 130 and 131 and the South 13 feet of Lot 132, Ridgewood Hills, Plat Book 23, Page 250, Palm Beach County, Florida together with the South 75 feet of Lots 130 and 131, Ridgewood Hills, Plat Book 23, Page 250, Palm Beach County, Florida (less the South 10 feet, those parcels conveyed in OR BKPG 2200/1462 and 2163/1967 and parcel 115 on FDOT R/W map section 93200-2550, sheet 6 of 10.) Folio No.: 08-43-45-21-16-000-1300 Location: Northwest corner of West Boynton Beach Boulevard and Northwest 4th Street, roughly 830 feet east of I-95, Boynton Beach Zoning: C2- Neighborhood Commercial by Boynton Beach Utilities: Municipal water and sewer, electricity, and telephone 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 43 ANDERSON CA CP Site Size: Square Feet: 14,530 Acres: 0.334 Shape: Roughly rectangular Street Frontage (Ft.1 130 Improvements: Gross Bldg.SF: 1,935 Year Built: 1966 Stories: 1 No. of Bldizs.: 1 Condition: Average to good Parking: On-site, adequate Air Conditioniniz: Central air Construction: CBS FAR: 0.13 Use: Use at Time of Sale: Seafood market Intended Use: Commercial Highest and Best Use: Commercial Verification: Source: Tony, Costar,public records Relationship: Manager w/Frank'Seafood Market Conditions of Sale: Arm's-length Verified By: B.Arnold Date: April 3,2022 Sales History: No transactions in the previous five years Sales Price: $495,000 Price/SF Building: $255.81 Financing: $390,000 SBA loan provided by BankUnited, N.A. Comments: This is a sale from an estate to the long-time tenant of the premises; Captain Frank's Seafood Market. --A! - - 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 44 ANDERSON CA CP SALE NO. 2 - 544 East Gateway Boulevard, Boynton Beach, FL 33435 AC File No.: 2220140.000 ID: 912629 d dl r �fP(91tt ,�1\�. 9 OR Book/Page: 31630/1372 Type: Retail Sale Status: Sale Sub-Type: Multi-Tenant (Retail) Date: July 31, 2020 Grantor: Oak Street Partner's Properties,LLC Grantee: Chez Elda Partners Properties, LLC Legal: Lots5 and 6, Block 13, Amended Plat of Boynton Ridge, Plat Book 24, Page 28, Palm Beach County, Florida Folio No.: 08-43-45-15-07-013-0050 Location: South side of East Gateway Boulevard, roughly 400 feet west of North Federal Highway, Boynton Beach Zoning: C2- Neighborhood Commercial by Boca Raton Utilities: Municipal water and sewer, electricity, and telephone 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 45 ANDERSON CA CP Site Size: Square Feet: 10,078 Acres: 0.231 Shape: Rectangular Street Frontage (Ft.) 100 Improvements: Gross Bldg.SF: 3,060 Year Built: 1975 Stories: 1 No. of Bldgs.: 1 Condition: Average Parking: On-site, adequate Air Conditioning: Central air Construction: CBS FAR: 0.30 Use: Use at Time of Sale: Retail Intended Use: Retail Highest and Best Use: Retail Verification: Source: John Antoine, Costar,public records Relationship: Buyer Conditions of Sale: Arm's-length Verified By: B.Arnold Date: April 7,2022 Sales History: No transactions in the previous five years Sales Price: $675,000 Price/SF Building: $220.59 Financing: $685,000 provided by Florida's Best Mortgage (This mortgage encumbered an additional property) Comments: This is a 6 unit strip-type retail center that sold to an existing tenant that operates a restaurant on-site; Chez Elda. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 46 ANDERSON CA CP SALE NO. 3 - 4391 10th Avenue North, Palm Springs, FL 33461 AC File No.: 2220140.000 ID: 912621 i��rtl 1 U r stip F t � y� OR Book/Page: 31984/1134 Type: Retail Sale Status: Sale Sub-Type: Multi-Tenant (Retail) Date: December 2, 2020 Grantor: Juan Carlos Cordoba and Yolanda M. Cordoba Grantee: 4391 10th Avenue North LLC Legal: Lots 15 and 16, less the South 15 feet thereof, Grammes Homesites, Plat Book 21, Page 91,Palm Beach County, Florida Folio No.: 70-42-44-24-05-000-0150 Location: North side of 10th Avenue North, roughly 520 feet east of South Military Trail, Palm Springs Zoning: CG- Commercial General by Palm Springs Utilities: Municipal water and sewer, electricity, and telephone 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 47 ANDERSON CA CP Site Size: Square Feet: 11,438 Acres: 0.263 Shape: Rectangular Street Frontage (Ft.) 100 Improvements: Gross Bldg.SF: 2,070 Year Built: 1973 Stories: 1 No. of Bldizs.: 1 Condition: Average Parking: On-site, adequate Air Conditioniniz: Central air Construction: CBS FAR: 0.18 Use: Use at Time of Sale: Commercial Intended Use: Commercial Highest and Best Use: Commercial Verification: Source: James Reed w/The Keyes Company, MLS, Costar,public records Relationship: Listing broker Conditions of Sale: Arm's-length Verified By: B.Arnold Date: April 4,2022 Sales History: No transactions in the previous five years Sales Price: $425,000 Price/SF Building: $205.31 Financing: $318,750 provided by TD Bank Comments: This is an older CBS commercial building that has been used as a cafe restaurant for the past several years. Property was listed in the local MLS on June 11, 2020 with an asking price of $500,000 and was under contract October 13,2020. Buyer is an owner user,but will lease out a portion of the building. --A! - - 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 48 ANDERSON CA CP SALE NO. 4 - 931 Miner Road, Lanatana, FL 33462 AC File No.: 2220140.000 ID: 912623 �g 1 t l 13 f t ti OR Book/Page: 32385/0583 Type: Retail Sale Status: Sale Sub-Type: Single Tenant (Retail) Date: April 8, 2021 Grantor: Idaly Irizarry-Zayas Grantee: Max Bakery and Catering, LLC Legal: Lot 99,Tropical Terrace, Plat Book 22,Page 58, Palm Beach County,Florida Folio No.: 00-43-45-10-07-000-0990 Location: North side of Miner Road, roughly 860 feet west of South Dixie Highway, Lantana Zoning: CN-Neighborhood Commercial by Palm Beach County Utilities: Municipal water and sewer, electricity, and telephone 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 49 ANDERSON CA CP Site Size: Square Feet: 5,502 Acres: 0.126 Shape: Rectangular Street Frontage (Ft.) 50 Improvements: Gross Bldg.SF: 416 Year Built: 1950 Stories: 1 No. of Bldizs.: 1 Condition: Average to below average Parking: On-site, adequate Air Conditioniniz: Wall unit(s) Construction: CBS FAR: 0.08 Use: Use at Time of Sale: Vacant Intended Use: Convenience store Highest and Best Use: Commercial Verification: Source: Herman Chang w/Premier Brokers International via MLS,public records Relationship: Listing broker Conditions of Sale: Arm's-length Verified By: B.Arnold Date: April 4,2021 Sales History: No transactions in the previous five years Sales Price: $105,000 Price/SF Building: $252.40 Financing: $65,000 balloon financing with a two-year term provided by the Gerald Hertz Revocable Trust Comments: This property sold vacant, but was previously operated as a convenience store. As of site visit 4/3/2022 the property was being operated as Max Neighborhood Grocery Store. Property was listed in the local MLS on 12/02/2019 with an asking price of$139,900 and went under contract on 2/26/2021. --A! - - 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 50 ANDERSON CA CP SALE NO. 5 - 701 W. Lantana Road, Lake Worth, FL 33462 AC File No.: 2210613.00 ID: 912420 7,1 rt i� t ,r s i�tt � st set �tt1f}�b:S rr( ttst � Stir 1 4t 6}t — t r ° r t r V} j Y OR Book/Page: 33104/01637 Type: Retail Sale Status: Sale Sub-Type: Single Tenant (Retail) Date: November 29, 2021 Grantor: Karen L. Whetsell Grantee: Midas Jewelry Inc. Legal: Lot 24 (LESS RETURN CURVE AREA AS IN OR2669P341) & Lot 25, Tract 4, Mantyharju, Plat Book 20, Page 86, Palm Beach County, Florida Folio No.: 40-43-44-34-09-004-0240 Location: The Northwest corner of Lantana Road and North 7th Street. Zoning: C1 - Commercial General by City of Lantana Utilities: Municipal water and sewer, electricity, and telephone 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 51 ANDERSON CA CP Site Size: Square Feet: 11,326 Acres: 0.260 Shape: Rectangular Street Frontage (Ft.) 205 Improvements: Gross Bldg.SF: 2,035 Year Built: 1968 Stories: 1 No. of Bldgs.: 1 Condition: Average Parkin: On-site,with 10 spaces Air Conditioning: Central air Construction: CBS FAR: 0.18 Use: Use at Time of Sale: service shop-dry cleaning business Intended Use: as used Highest and Best Use: service shop Verification: Source: Deed,Ahmed Abdeldayem,broker Keller-Williams Realty Relationship: Listing Broker Conditions of Sale: Arm's-length Verified By: R. Saar Date: January 11, 2022 Sales History: No transactions in the previous five years Sales Price: $466,000 Price/SF Building: $228.99 Financing: Cash to seller Comments: 1 story retail commercial structure used as a dry-cleaning establishment. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 52 Comparable Sales Locations Maps go Conservation Society Okeeheelee Pine Air D2 Park C88 2) Acacia Villas Lake Clarke Shores Phipps Ocean Park i Skate Zone Greenacres Fun'lnepot 9 9 Lake Worth (:JDN Lake Worth Corridor John C5 Prince Park Atlantis qtco,,��11, West Boynton analapan Park and Recreation (KA) Center Aberdeen Ocean Inlet Park Boynton Sun Valley Beach Ocean Ridge Gulfstream Park Indian Spring Country Club-Q, 9 Golf 9 Caloosa Park lv\�,'cR,.�,S)htchee Wetlands Map data((,,)2022 Google --A! 6- 12i9Northwest 4th Street/Cherry Hill Market /\&CJob No.: 2220140.000 53 enter Z Intracoastal AM CarMax 03 Boymon Bay Apartments 9 10 Harvey E. IT Nr 18111 Ave z BOVFIIGI,t Oyer Jr. Park Cjr -1701 Ave NW Z NE 17rh Me & Banquet Facility Floor & Decor W Manatee Bay Apartme ML NE 14th Ave OG(,�jjrj Inlo Dr NVJ 14th Ave Dyno ynton Canal U-Haul of 19 I'S Boynton Beach NE 12th Ave rn 114W-121'kjAve NW I Ith Ave NE-1 Ith Ave Mder Rd Marlin 1-taherKing Jr Blvd Sun Dek Bead N VV 9!h Ave NFr 9th Ave NP 90h Ave NW 8th Ave NE 8th Ave Har Zt NW 6th Ave NE 61h A,,o z co Schoolhouse The Inn at ChRdren's MUseum Boynton Beach 9 Coc� Ave NW I sl Ave Waterfront Grille 11TGo gle Vv Ocean Ave E Ocean Ave Map data�02022 --A! 6- 12i9Northwest 4th Street/Cherry Hill Market /\&CJob No.: 2220140.000 54 ANDERSON CA CP 3each Park/ OCEAN ana EAST SOUTH INNS AVE ort South Castes Wholesale RTH �IIA D W A Y BeaPalmch ie View at WNNLantana Lantana ater's Edge LATA A Municipal 9 HEIGHTS E ocean Ave Beach T 0 OCEAN BREEZE t-S;1 G-3 W LANTANA ,-NHEIGHTS WEST LANTANA PINES EAST CENTRAL SEA PINES BOULEVARD Super 8 by Wyndham )Olkjxo RdLantana West Palm Beach L0L1i:'-',1011c 920, Manalapan San Castle C, CD 01 Lofthus z Hypoluxo was $t e Undet X Archaeologicaf Preserve 1 qq,, 01 71 Village Royale On the Green J��e-e Suites by E G ateway&jvr, Map data cc..2022 Google A 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 55 ANDERSON CA CP noa 201 Orishas 2eljgious g W E3 Diamond Ln ,,fongo (.andela F'I� El & Pizzeria ,own Pawn Shop i I P a w t o P i"'i S Lake Wort Broadway dannys db tire service Broadway st Gar -'s i Tirf.� Shop 11 DMV Solutions IP 9atlas Transmission Marilyri Dr Marilyn Dr CMG Jewelry Jewelry store Mr. Clean Laundry El '0 U-Haul 13 9 Neighborhood Dealer Wawa Convenience�;toie I Oth Ave N 9 9 Dollar General MoneyGrarin Pronto The Dollar stom < Auto Repair 1--'alm Beach Preschool Tire Chop Weymoull,SIt (END 9 Blurryfades Barbershop 9 Queen of Pawns Flawn shop Carver St Garver St Fern St Cadque Travel Clinton Blvd E0911 Attleboro Ave Attleboro Ave Flower Patch Flonsi 9AAIIACO Tran srnissions &Total Car Care I k le- Map data(x.",2022 --A! 6- 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 56 ANDERSON CA CP Sale No. 4R Bk Land AreaYear Sale Price/SF Property Address SF Bldg.SF FAR Bate Page Built Price of Bldg. Acres 1 31507 435 west Boynton Beach Boulevard 14,530 1966 1,935 0.13 $495,000 $255.81 Jun-20 0852 Boynton Beach 0.33 2 31630 544 East Gateway Boulevard 10,078 1975 3,060 0.30 $675,000 $220.59 Jul-20 1372 Boynton Beach 0.23 3 31984 4391 10th Avenue North 11,438 1973 2,070 0.18 $425,000 $205.31 Dec-20 1134 Palm Springs 0.26 4 32385 931 Miner Road 5,502 1950 416 0.08 $105,000 $252.40 Apr-21 0583 Lanatana 0.13 5 33104 701 W.Lantana Road 11,326 1968 2,035 0.18 $466,000 $228.99 Nov-21 01637 Lake worth 0.26 Subj. 1213 Northwest 4th Street 4,967 N/A 1959 1,443 0.29 N/A N/A Mar-22 Boynton Beach 0.11 Sales Summary and Discussion In this analysis, we considered differences between the sales and the subject in terms of property rights sold, conditions of sale, financing, market conditions (trend or time adjustment), location, building and lot size, and quality and condition of the improvements. The appraisers based the comparisons on a standardized unit of measure, the sale price per square foot of building. The sale price per square foot of building correlates well among the comparable sales and is commonly used by buyers in this type of analysis. Properly Rights The property rights transferred were believed to be those of the fee simple estate. No differences between the sales and the subject are reflected. Conditions of Sale All sales were reportedly market oriented. No adjustment consideration for conditions of sale was necessary. Financing We considered any indication of favorable financing. All sales were either on a cash basis or had market- oriented financing, therefore, no differences were noted nor were adjustments made. --A! - - 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 57 ANDERSON CA CP Market Conditions The sales occurred over the period from June 5, 2020 to November 29, 2021. The subject property date of value is March 30, 2022. Prior to the beginning of the pandemic in early 2020 property values in the South Florida area were on the rise and this trend has been continuing. While there was a pull-back in transaction volume in mid-2020, pricing trends have not been affected by the pandemic. Based on what we have seen in the subject's local market we believe an appropriate time adjustment would be 0.5% per month, which we have rounded down to the nearest whole month. Location The subject property is located at 1213 Northwest 4th Street in Boynton Beach. This is a neighborhood location with no frontage on a commercial thoroughfare. Comparables 1, 2, 3 and 5 have each received some degree of downward adjustment for superior exposure and/or general neighborhood location. Comparable 4 was found to be similar enough in exposure and general neighborhood location such that no adjustment is warranted Size Generally, larger properties will sell for a somewhat lower price per square foot of building than smaller ones, and vice versa, when all else is equal. The sales in this data set do appear to follow this pattern and some adjustment is warranted. Comparable 4 has been adjusted downward for its smaller size. Quality/Condition/Appeal This consideration takes into account differences in quality of construction, the property's physical condition and overall appeal. The subject property was reportedly built in 1959 and is in average condition. Comparable 1 was found to be superior in overall quality/condition/appeal and warrants downward adjustment. Comparable 4 was found to inferior in overall quality/condition/appeal and warrants upward adjustment. The remaining comparables are similar enough in overall quality/condition/appeal such that no adjustment is warranted. FAR/Lot Coverage/Parking The most significant factors involving lot coverage are the existence of excess land and the availability of on-site parking. Neither the subject nor any of the comparables have excess land and all have adequate on- site parking. No adjustments are warranted. Zoninz/Land Use The subject property has a zoning designation of R2 Duplex (10 DU/Acre) by Boynton Beach with an underlying future land use of MEDR - Medium Density Residential by Boynton Beach. That said the existing commercial use is grandfathered a preexisting legal non-conforming use. Though they may vary by municipality, all of the comparables have commercially oriented designations that allow for similar uses as the subject. No adjustment is warranted. 1213 Northwest 4th Street/Cherry Hill Market A&C Job No.: 2220140.000 58 N N O ti � U o 0 0 0 0 7r-a �n � Py an •� rra o 0 o N o � 0 I� ti ti O ti CJ ON 4�3 � {Y+ ti 01 ti O 01 py bb LLI ti+ R N ANDERSON CA CP Conclusion Considering all of these differences, we developed the preceding quantitative comparison chart listing the sales as they compare to the subject property, based on a price per square foot of building. Not all categories considered are depicted. Those omitted reflect no differences between the sales and the subject property. The unadjusted range of value indicated by the sales is roughly $205.31 to $255.81 per square foot of building area. The preceding quantitative comparison chart shows the value range for the subject property after adjustment based on a price per square foot of building area to be from $209.18 to $226.34 with a mean of $214.92. Considering all of the salient factors discussed previously and prevailing market conditions, the appraisers feel a conclusion in the middle portion of the indicated range is most appropriate. Given the preceding data and discussions, it is concluded that the market reflects a value per square foot of building area for the subject property of$215 as of March 30, 2022. Total value is calculated as follows: 1,443 Square Feet @ $215 per Square Foot = $310,245 Rounded To: MARKET VALUE VIA SALES COMPARISON: $310,000 1213 Northwest 4th Street/Cherry Hill Mini Market A&C Job No.: 2220140.000 60 QUALIFICATIONS OF APPRAISER ROBERT B.BANTING,MAI, SRA PROFESSIONAL DESIGNATIONS-YEAR RECEIVED MAI- Member Appraisal Institute-1984 SRA- Senior Residential Appraiser,Appraisal Institute-1977 SRPA-Senior Real Property Appraiser,Appraisal Institute-1980 State-Certified General Real Estate Appraiser,State of Florida,License No.RZ4-1991 EDUCATION AND SPECIAL TRAINING Licensed Real Estate Broker-#3748-State of Florida Graduate,University of Florida,College of Business Administration,BSBA(Major-Real Estate&Urban Land Studies)1973 Successfully completed and passed the following Society of Real Estate Appraisers(SREA)and American Institute of Real Estate Appraisers(AIREA)courses and/or exams:Note:the SREA&AIREA merged in 1991 to form the Appraisal Institute. SREA R2: Case Study of Single Family Residence SREA 201: Principles of Income Property Appraising SREA: Single Family Residence Demonstration Report SREA: Income Property Demonstration Report AIREA 113: Capitalization Theory and Techniques SREA 101: Introduction to Appraising Real Property AIREA: Case Studies in Real Estate Valuation AIREA: Standards of Professional Practice AIREA: Introduction to Real Estate Investment Analysis AIREA 2-2: Valuation Analysis and Report Writing AIREA: Comprehensive Examination AIREA: Litigation Valuation AIREA: Standards of Professional Practice Part C ATTENDED VARIOUS APPRAISAL SEMINARS AND COURSES,INCLUDING: The Internet and Appraising Golf Course Valuation Discounting Condominiums&Subdivisions Narrative Report Writing Appraising for Condemnation Condemnation:Legal Rules&Appraisal Practices Condominium Appraisal Reviewing Appraisals Analyzing Commercial Lease Clauses Eminent Domain Trials Tax Considerations in Real Estate Testing Reasonableness/Discounted Cash Flow Mortgage Equity Analysis Partnerships&Syndications Hotel and Motel Valuation Advanced Appraisal Techniques Federal Appraisal Requirements Analytic Uses of Computer in the Appraisal Shop Valuation of Leases and Leaseholds Valuation Litigation Mock Trial Residential Construction From The Inside Out Rates,Ratios,and Reasonableness Analyzing Income Producing Properties Development of Major/Large Residential Projects Standards of Professional Practice Regression Analysis In Appraisal Practice Federal Appraisal Requirements Engaged in appraising and consulting assignments including market research,rental studies,feasibility analysis,expert witness testimony,cash flow analysis,settlement conferences,and brokerage covering all types of real estate since 1972. President of Anderson&Carr,Inc.,Realtors and Appraisers,established 1947 Past President Palm Beach County Chapter,Society of Real Estate Appraisers(SREA) Realtor Member of Central Palm Beach County Association of Realtors Special Master for Palm Beach County Property Appraisal Adjustment Board Qualified as an Expert Witness providing testimony in matters of condemnation,property disputes,bankruptcy court, foreclosures,and other issues of real property valuation. Member of Admissions Committee,Appraisal Institute-South Florida Chapter Member of Review and Counseling Committee,Appraisal Institute-South Florida Chapter Approved appraiser for State of Florida,Department of Transportation and Department Natural Resources. Instructor of seminars,sponsored by the West Palm Beach Board of Realtors. Authored articles for The Palm Beach Post and Realtor newsletter. Real Estate Advisory Board Member,University of Florida. TYPES OF PROPERTY APPRAISED-PARTIAL LISTING Air Rights Medical Buildings Apartment Buildings Churches Amusement Parks Department Stores Hotels-Motels Marinas Condominiums Industrial Buildings Office Buildings Residences-All Types Mobile Home Parks Service Stations Special Purpose Buildings Restaurants Auto Dealerships Vacant Lots-Acreage Residential Projects Golf Courses Shopping Centers Leasehold Interests Financial Institutions Easements "I am currently certified under the continuing education program of the Appraisal Institute." QUALIFICATIONS OF APPRAISER BEAU M.ARNOLD GENERAL INFORMATION State-Certified General Real Estate Appraiser RZ2937 State Licensed Real Estate Sales Associate SL3076071 EDUCATION AND SPECIAL TRAINING Graduate, University of Florida, College of Business Administration, BSBA(Majors- Real Estate and Management) 1997 Successfully completed and passed the following courses: UF: Real Estate Analysis UF: Real Estate Valuation Al 20OR: Residential Market Analysis and Highest and Best Use Al 300GR: Real Estate Finance, Statistics, and Valuation Modeling Al I310 Basic Income Capitalization Al I410N: National Uniform Standards of Professional Appraisal Practice Al 520: Highest&Best Use and Market Analysis Engaged in appraising and researching real estate with Anderson and Carr, Inc. since May of 1997. TYPES OF PROPERTY APPRAISED Single Family Homes Condominiums Commercial Land Multi-Family Land Residential Land Industrial Land Agricultural Land Subdivision Land Conservation/Environmentally Sensitive Land Public Land Apartment Buildings Retail Buildings Warehouse Buildings Office Buildings Proposed Construction Gas Stations Net leased Properties Special Purpose Properties Restaurants Shopping Centers Houses of Worship Schools Civic Facilities Mobile Home Parks Marinas Golf Courses Rights-of-Way Easements Leasehold Interests Appraiser Licenses 1E-1 Ran DeSant s,Governor Halsey Beshears,Secretary Florida STATE OF FLORIDA �W DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REAL fSTATEAPPRAISAL BD THE CERTIFIED Gi=NE;RA�aAP�' 1,S'ER HEREIN I ERTIFIED UNDER THE PROVISIONS", CMAI'T�t��'75, FLORIDA STATUTES r BANTU— L 1:S'01,IYE,4V� E 'i PALM 81 ,; P 34f1 r., r UMBER.I4� _ EXPIRATION DATE: NOVEMBER 30,2022 Always verify licenses online at MyFloridaLicense.com rte- Do not alter this document in any form. This is your license. It is unlawful for anyone other than the licensee to use this document. Ron DeSantis,Governor T � Halsey Beshears,Secretary I da db NATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REALZSTATE APPRAISAL BD THE CERTIFIED GENE A,C PPF AJs, uR H fi ill IS RTIFfED UNDER THE, PROVISION,, F itHAIPT-7 R 4 'S, FLt��IrDA'�TATUTES „ r,} .LD r0,Ep1U 'r' gat �' [�,�F#ldR��IILL R' �►«+D, 'M BEACH"', Fl 3�i�5 � h t LICENSE NUMBER R��937 EXPIRATION DATE. NOVEMBER 30,2022 Always verify licenses online at MyFloridaLicense.com Do not alter this document in any form. This is your license. It is unlawful for anyone other than the licensee to use this document. 0 ADDENDUM ANDEPSON CAPP n"„$.k'FC, a'S47: €:° � In s'.,,.a1'� AGREEMENT FOR PROFESSIONAL SERVICES Client hereby engages Anderson &Carr, Inc.to complete an assignment as follows: Client Information Date: March 11, 2022 n __. _ ___-----. __...._.__ Proposal o.:2220140 Name: Theresa Utterback Title: Development Services Specialist Boynton Beach Comm-unity Redevelopment Agency Address: 710 North Federal Highway, City,State,Zip Boyntgn.,Beach4FL 33435 (561)737-3256 Email: ufterbackt@bbfl.us Property Informadgri Property r 1213Northwest 4th Street Boynton Beach, Florida 33435 Property Description: 1,443square footsingle tenant retail building Parcel ID(s) : 0843-45-21-14-000-3960 tnterest Valued I intend6d 4J /Itn'tendod ,ee Interest Valued: Fee Simple Estate Intended User(s): mBoynton Beach Community Redevelopment Agency and/or otherwise specified in writing. Intended Use: Acquisition a ublic c,y... ...M...... _ .._..._.� . Type of Value: Market value Date of Value: Current Appraisal(Report Type Timms Report TNarrative Delivery i 4-5 weeks from authorization Delivery ail P of Report Paper Copies: 0 Fee: $2,800.00 Deposit: $ 0.00 .Approc s: • Sales Cost Inco a DinsurableValue_ _-[--] Review her Scope oEstimate current market value Survey and/or site plan Detailedcurrent rent roll Prior 3 years income and expenses I Needed: El (if Available) Copies of all leases 11 List of any recent major repairs or renovations Prior appraisal reports E3 Copy of current agreement for sale Other: Hypothetical Cond itions/Extraordi nary Assumptions: None RBB: cmp -ESTABLISHED 1947- ANDERSON&CARR INC. m 521 S OUSPE:AVE,K P.Fa9.M BEACH,FL 3340 I • 561.8333661 ANDERsC?I'•CARR.COM �" ANDEPSON CAPP ....................................... Conditions of Report 1. The report may not be used for any purpose by any person or corporation other than the client or the party to whom it is addressed or copied without the written consent of an officer of the firm of Anderson & Carr, Inc. and then only in its entirety. 2. Liability of Anderson&Carr,Inc.,its employees,and any subcontractors is limited to the fee collected forthe assignment. There is no accountability or liability to any third party. 3. No responsibility is assumed for matters legal in character or nature, or matters of survey, nor of any architectural, structural,mechanical or engineering nature.No opinion will be rendered as to the title which is presumed to be good and merchantable. The property will be valued as if free and clear, unless otherwise stated in particular parts of the report. 4. No responsibility is assumed for accuracy of information furnished by or from others,the clients,his designee or public records. We are not liable for such information or the work of subcontractors. 5. The interpretation and enforcement of this Agreement shall be governed by the laws of the state in which the Appraiser's principal place of business is located,exclusive of any choice of law rules. Report Delivery:The base fee covers the cost for electronic delivery of a PDF report unless agreed otherwise. If hard copies are requested by the client, they are available at an additional cost of$25 per copy for form type reports and $50 per report for narrative reports. Proposed Improvements:If the subject property consists of proposed improvements,Client shall provide plans,specifications,or other documentation sufficient to identify the extent and character of the proposed improvements. Properties Under Contract For Sale: If the subject property is currently under contract or listed for sale, Client shall provide a copy of said contract including all addenda. Confidentiality: Anderson & Carr, Inc. shall not provide a copy of the written Report to, or disclose the results of the report prepared in accordance with this Agreement with,any party other than Client,unless Client authorizes,except as stipulated in the Confidentiality Section of the ETHICS RULE of the Uniform Standards of Professional Appraisal Practice(U PAP). Cancellation: Client may cancel this Agreement at any time prior to delivery of the Report upon written notification to the Appraiser. Client shall pay for work completed on assignment prior to receipt of written cancellation notice, unless otherwise agreed upon by Anderson&Carr, Inc. and Client in writing. No it Party Beneficiaries:Nothing in this Agreement shall create a contractual relationship between Anderson&Carr,Inc.or the Client and any third party,or any cause of action in favor of any third party. This Agreement shall not be construed to render any person or entity a third party beneficiary of this Agreement, including, but not limited to,any third parties identified herein. Use Of Employees Or Independent Contractors: Contractor may use employees or independent contractors at Contractor's discretion to complete the assignment,unless otherwise agreed by the parties. Notwithstanding,Contractor shall sign the written Report and take responsibility for the services provided as a result of this Agreement. Testimony At Court Or they Proceedings: Unless otherwise stated in this Agreement, Client agrees that contractor's assignment pursuant to this Agreement shall not include the participation in or preparation for,whether voluntarily or pursuant to subpoena,any oral or written discovery,sworn testimony in ajudicial,arbitration or administrative proceeding,or attendance at any judicial,arbitration,or administrative proceeding relating to this assignment. If additional services are required,such as courtroom testimony,depositions,preparation for depositions,travel time and related expert witness fees,our fees will be billed at our normal hourly rates,which are as follows:$300 per hour for MAI/Principal time,$150 per hour for staff appraisertime,and$85 per hour for researcher time. A retainer fee will be required if additional services are needed. If expert witness testimony is required, client agrees to pay appraiser a minimum fee of$1,000 to be paid in advance of any depositions and payment in full prior to any court testimony. Appraiser Independence:Appraiser cannot agree to provide a value opinion that is contingent on a predetermined amount, or guarantee the outcome of the assignment in advance,or insure that the opinion of value developed as a result of this Assignment will serve to facilitate any specific objective by Client or others in advance any particular cause. Appraiser's opinions will be developed competently and with independence, impartiality and objectivity. Collections: It is further agreed and understood that if any portion of the compensation or costs due to Anderson&Carr, Inc. becomes delinquent,The Client will pay interest thereon at the rate of 12%per annum on said account from the due date until paid, and further agrees to pay all costs of collection thereof, including reasonable attorney's fees, court costs, etc. Payment in U.S.Dollars: Client agrees to pay fee in U.S.currency or by check from a U.S. bank account. Prior Appraisal:Anderson&Carr and/or its agents/appraisers have not previously appraised the subject of this agreementwithin the prior three years. Client Date 3/11/2022 Anderson &Carr, Inc. Date ANDEPSON CAPP APPRAISERS REALTORS 4 COPISULTAN t AGREEMENT FOR PROFESSIONAL SERVICES Public Records The Boynton Beach Community Redevelopment Agency is public agency subject to Chapter 119, Florida Statutes. The Contractor shall comply with Florida's Public Records Law. Specifically,the Contractor shall: 1. Keep and maintain public records that ordinarily and necessarily would be required by the CRA in order to perform the service; 2. Provide the public with access to such public records on the same terms and conditions that the CRA would provide the records and at a cost that does not exceed that provided in chapter 119, Fla.Stat., or as otherwise provided by law; 3. Ensure that public records that are exempt or that are confidential and exempt from public record requirements are not disclosed except as authorized by law; and 4. Meet all requirements for retaining public records and transfer to the CRA, at no cost,all public records in possession of the contractor upon termination of the contract and destroy any duplicate public records that are exempt or confidential and exempt. All records stored electronically must be provided to the CRA in a format that is compatible with the information technology systems of the agency. The failure of Contractor to comply with the provisions set forth in this agreement/contract shall constitute a Default and Breach of this Agreement. If Contractor fails to cure the default within seven (7) days' notice from the CRA,the CRA may terminate the Agreement. Non-Scrutinizing Compan Contractor hereby certifies that it is not on the Scrutinized Companies that Boycott Israel List created pursuant to Section 215.4725, Florida Statutes, and is not engaged in a boycott of Israel. If the CRA determines that this certification is falsified or contains false statements, or that Contractor is placed Scrutinized Companies that Boycott Israel List or engages in a boycott of Israel after the execution of the Agreement,the CRA may terminate the Agreement. E-Verify Contractor warrants for itself and its subcontractors that Contractor and all subcontractors are in compliance with all federal immigration laws and regulations that relate to their employees. The Contractor agrees and acknowledges that the CRA is a public employer that is subject to the E-verify requirements as set forth in Section 448.095, Florida Statutes,and that the provisions of F.S. Sec. 448.095 apply to this Contract. Notwithstanding any other provisions in this Agreement, if the CRA has a good faith belief that Contractor has knowingly hired, recruited or referred an alien who is not duly authorized to work by the immigration laws or the Attorney General of the United States for employment under this contract, the CRA shall terminate the contract. If the CRA that has a good faith belief that a subcontractor knowingly hired,recruited or referred an alien who is not duly authorized to work by the immigration laws or the Attorney General of the United States for employment under this Contract, the CRA shall promptly notify Contractor and order Contractor to immediately terminate the contract with the subcontractor. Contractor shall be liable for any additional costs incurred by the CRA as a result of the termination of a contract based on Contractor's failure to comply with E-verify requirements referenced herein. BOYNTO C D m'suBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 NEW BUSINESS AGENDAITEM: 14.C. SUBJECT: Discussion and Consideration of Request from the USPS to Remain at the CRA-owned Property Located at 217 N. Seacrest Boulevard Post-Closing SUMMARY: On January 13, 2020, the CRA entered into a Purchase and Sale Agreement for the properties located at 209 and 217 N. Seacrest Boulevard (see Attachments 1-111). The two combined properties total approximately 1.29 acres and are currently zoned C-2 (Neighborhood Commercial). The CRA Plan provides a recommendation for the property to be Mixed Use Medium, with 40 du/ac and a height maximum of 65 feet, with potential TOD bonuses under the Workforce Housing Ordinance. The combined parcels could also accommodate approximately 30,000 -40,000 square feet of residential, office, and retail uses. The CRA closed on the 209 N. Seacrest Boulevard Building which currently is leased to the City of Boynton Beach for use by the Police Department. The closing for the 217 N. Seacrest property, which contains the leased USPS Office, is scheduled for February 28, 2023 (see Attachment IV). Under the Purchase and Sale Agreement, the property will be delivered to the CRA unoccupied (see Paragraph 8.5 of Attachment V). On April 11, 2022, CRA staff received a request from Mr. Rick Hancock, Real Estate Specialist for the USPS, to appear before the CRA Board to discuss the USPS's interest in remaining at the current location after the closing until a new long term USPS facility is purchased (see Attachment VI). He also indicated in a meeting with City, CRA staff, and the property owner, Mr. Michael Weiner, the USPS is interested in a retail location in east Boynton Beach. Staff have included Mr. Michael Weiner, the current property owner, on all correspondences as the USPS lease with the property owner will expire on January 31, 2023. The CRA legal counsel indicated that a simple amendment to the Purchase and Sale Agreement could be approved by the Board to allow the USPS to remain or the USPS lease would be considered a holdover lease for 30 days after closing at which time the CRA can negotiate a lease directly with the US PS. Mr. Hancock will be attending the CRA Board meeting virtually on May 10th to discuss the USPS interests and to answer questions from the Board. FISCAL IMPACT: Fiscal Year 2021-2022 Budget, Project Fund, Line Item, 02-58200-401 (Property Purchases), $635,316 for 217 N. Seacrest Boulevard closing Fiscal Year 2022-2023 Budget: Balance of funding ($764,684) to close 217 N. Seacrest Boulevard. CRA P LAN/P ROJ ECT/P ROG RAM: 2016 CRA Redevelopment Plan and 2010 Downtown Vision and Master Plan CRA BOARD OPTIONS: To be determined by the CRA Board. ATTACHMENTS: Description D Attachment I - Location Map D Attachment II -217 N. Seacrest Boulevard Appraisal D Attachment III -209 N. Seacrest Boulevard Appraisal D Attachment IV - Lease Agreement 217 N. Seacrest Boulevard D Attachment V -217 N. Seacrest Boulevard Executed Purchase and Sale Agreement D Attachment VI - US PS's Request to be on May 10th CRA Board Meeting ma est S# £,rS.,_£ A€11, 1r `�£t'�stJ r r�,•.x 4 .,,j � €t,) �` £,��'$ � € `�, t � .9' t � �' ,��. , �£ s,,V£}s �rss s€Us3 - .--. } leap t�it1)r `11N �1 Y)�77 }� ii�h(,r�;\1 rt35 ��'(""�i�€� ! -_ ��' •Q '�tt��{{s £s �tu+��$��?( 1��?�� a s �, �J � � �� s�tt i£s�+ (� t R 5.3�,`�S€5..._, ,(,1 s'° s rr 4-•r, a"`�:,. £, , �. ,t rn f + j 1 £ ls}N £ 'pv, t, t;£ 1,}�ht, _ _ �r, '� � 1. r,. & ,e; ) £ �� {-. „1��1, 5 _ Y. � 1st };,�� •r� (t�i1`'� s� -. Ir} - ,t' r)11,;. 5, �� r jI 1- 2- d ,:� {{ ) t 1. i} �� <� �t '� t - �F � �ll�k?'ss;; '�}'� 7�, qu,._ sGu+•�-��} £n,-,is;;r. _ r �, :_r £££a ,.f.Jr. 1£t£ u,,,, S t�;� �tiri _(£E r, '�•� �`S.c mv.tin�,x,.at:t�.-.?r;,€r,� .n.k.E�: - h 3S0J��`E'� £:. ti ,.zs a:'�i �E}S �'� F �fiC �� `t1rY£�Irt ___ i _ ; J�1)Std }:✓ e��r l £ £ £ 10 Ln ZZ h""; s it'l"R!O £ Ssry£,S�S u.' 1 r u`Smll� � s J (( l A f 1 r € { r lttl�1 s. APPRAISAL REPORT Boynton Beach Post i 217 N Seacrest Blvd, Boynton Beach, FIL 33435 Market Value: $1,600,000 as of July 11, 2019 1� 3 rd' - Property Identification: Report Prepared By: Report Prepared For(Client): 217 N Seacrest Blvd, Boynton Beach, FL Jonathan Whitney, MAI, State-Certified General Michael S.Weiner, Esquire 33435 Real Estate Appraiser RZ2943 Sachs Sax Caplan, P.L. Tax Parcel ID(s): 08-43-45-28-10-004-0090 Aucamp, Dellenback&Whitney Appraisers 6111 Broken Sound Pkwy, Tax Assessment:$957,742 2018 1900 NW Corporate Blvd,215 E Suite 200 Annual Tax Amount: $23,604 2018 Boca Raton, FL 33431 Boca Raton, FL 33487 Delinquent Taxes: No 561-998-9326 Owner: Boynton Boundless, LLC ion@adw-appraisers.com Date of the Report:July 26,2019 (File#: 19-0940E) Purpose: To estimate market value in"as is"condition Interest Appraised: Leased fee interest Client: Michael Weiner Intended User The intended user of this report is Michael Weiner and-or assigns Intended Use: The intended use of the report is to provide information for use in making business decisions. Report Format: Appraisal Report(Form) Inspection Date: July 11,2019 Effective Date: July 11,2019 Report Date: July 26,2019 Competency Rule: We had the knowledge and experience necessary to complete this assignment competently at the time of its acceptance. Hypothetical Conditions: None Extraordinary Assumptions None Valuation Approaches: The sales comparison approach provides an estimate of market value based on an analysis of comparable property sales. Other: Jonathan Whitney inspected the readily accessible areas of the subject site and improvements, performed the research and analysis,and wrote this report. Pagel of 27 Subject Property Name: Boynton Beach Post Office Address: 217 N Seacrest Blvd, Boynton Beach, FL 33435 Location: Within the municipality of Boynton Beach, Palm Beach County, Florida Legal Description: Shown below(Source:Warranty Deed) Current Owner: Boynton Boundless, LLC Ownership History: No arm's length transactions involving the subject have occurred in the prior three years. Items Received: Lease Market Data Sources: Costar Realty(subscription service), LoopNet.com(subscription service), Multiple Listing Service (subscription service), PwC Real Estate Investor Survey(subscription service),published reports from national brokerage firms, RealQuest(subscription service),Site-To-Do-Business(subscription service), Floodmaps.com(subscription service), RealtyRates.com (subscription service), Marshall Valuation Service(subscription service), local county property appraiser's records(public records), Circuit Court recordings(public records),and appraisal files in this office Types of Data: Commercial building and land sales Geographic Area: Primary: Boynton Beach;secondary: Palm Beach County;tertiary: South Florida Verification: Sales were verified by a party to each transaction,unless otherwise noted. Lois 9,11h�I I arw8 E2.itlrick 4,K(WNn jii,tfri;thls AddiIion to Tau"A rad&so a mta 0am0,swca^u4attemg to the Plat hhe"oF. rermrded to 11x1 11w �} 7T. Pminx 64,ger she Pubik tk,teoedA of Pwlm 111c,ch 4 outlra, rin+Yuda. �i:� Lem Pmrliom of LAW desaili ed aa#tso-sA,'jand ouvr,lhroogh nod atNwovii the rnllus%fnk.: 1.44%9 W. to and the weft tin fh1 feet of r 0 12,all Pqi'4ki,k 4,avrordlmg io the reu ttl 8ilaut m$Cha tsiora 41tioghm ac recorded im Plat hook h1s),Po6e 64;'*fEik P-ljw R"ordlw or rAfsrl its;t'eh€`e—ir,,fierkda,.:to Section:18^'Towm Wip 45 sontch.Raaehe.43 h aq,said Imp khan me s1®redi atomg a holitJid frrt rawml aodanal imirallel Io the 1wNt Idme ofaaid Lot 11,Istidiathe korNhrrl,13 feels srm4F teww aw mrrfh 12 ren^a Or the e-ant foal's reee)I r,atd t,a 7m. "1"aak01iw,a 14h: Lcca f3.11,14;M Rlomk 4,r�iwd 8"11114 of 11x49loton Fleglltu.asldutNum t¢the l'oum of Bawxutaaa Ekua eh, F"la-reds aceoralu`mg to ahe Miami ch-veil'eecawrdr4N 4n ftOffaae of the C.ler6 of 114>e C iremal C:a mr1 tin aawdi falr Palm 4teaufi C"oumq,Florhda nu MAI I rs,llk 411,f°a-,p 64,, 'amt.jrr^I Ni 3'emsetasrtB4 nue€16lrrar of Iaahu A'1u PEW kk,,uR,104 t"mV 64 PAfrrr tlhgAelt 0ionti,bk^order. Lori 0,IW,19 8111,Ri,And 4lve murals iS reed of l.xrt 2",'aldata:k.4,ra•w1wld flat of k°har,ioa flog tN, addifl om im the°1`sPrswsw 4 tuarattarn Uctxh,iltiwi41a,meerardlalfr cs 00 PI-M lhemA rreordmd in olwr tffN"r,e o1't1€e Clerk or elle Clretn C':a urr im,emd for Pol4m fteaeh a.oomo,.Flor�ds io 111ai Pool,I t,Nge 61. lxa,karts on of Wind dewrdbed as 4he ruaE Ill feel r54 Loo t'mod Etas A.noi-ib N:r"ltin J" Afs 18,,lo- 21N.31 wind the nart h IN lett of LA 32 All dm sand hihorvk 4,a and t M na part„f zajd m k i etr fu rhesy;ehl r,o trine t2 f€l'1 i4outh of amd pa.110 to 14 mrarlh shoe of€asd Err I'r ANdemdrud to 4ha Sanee of Pt441duta. Pared Mumufxera 0&,43-4A 1$40•41144f190 stlhjeu 6,twr.ex too 24MM mo41 3vgrk�a€sseUanls,es,aualitmam, rewtla^Cwwietms,edbirosrsr4w,ra`FKF'a.l4 tr ua Gaud lsmea€a Plume,air rra ord,i r a mw Page 2 of 27 0 A 0 A p A ® e A The subject neighborhood is the downtown area of Boynton Beach.This downtown area is the greater area surrounding the intersection of Boynton Beach Blvd and Federal Hwy.The neighborhood is in the revitalization stage of a typical neighborhood life cycle. Boynton Beach Blvd is a four-lane,traffic artery with an interchange with 1-95. Seacrest Boulevard is a collector roadway in the eastern part of the neighborhood. Federal Hwy is the primary north-south thoroughfare. Local streets connect with Boynton Beach Boulevard and Federal Hwy. Overall,the roadway network is good. Most of this neighborhood corridor was developed with single-family homes in the 1940s and 1950s. Some of these buildings have been converted to commercial use by single occupants. Lots are relatively small and most conducive to use by small buildings.The eastern end of the neighborhood was initially developed with some small, low-intensity commercial buildings. The City and the CRA(Community Redevelopment Agency)has been actively encouraging a more intensive downtown over the years.The downtown had a relatively low profile until three major redevelopment projects were completed during recent years. Marina Village along E Ocean Avenue was completed in 2006 with up to 14 floors of several hundred residential condominium units above 20,000 SF of first floor retail space. Residential units are being listed around$250,000 to$350,000. The Promenade along N Federal Highway was completed in 2009 with 14 floors of 323 residential condominium units above 19,000 SF of first floor retail space.The loan note on the unsold inventory of approximately 250 units was sold to a prominent South Florida developer,The Related Group.This buyer subsequently took title in a"friendly foreclosure"and changed the name to Casa Costa.These units are being listed around$350,000 and greater. 500 Ocean is a major new project that has recently completed construction with 341 residential units and 20,000 SF of commercial space at the southwest corner of Federal Highway and E Ocean Avenue.The apartments are renting from$1,500 to$2,500 per month. Boynton Beach's former City Hall is currently being redeveloped into Boynton Beach Town Square.This 16-acre site along the south side of Boynton Beach Boulevard will consist of a large new municipal and cultural complex. The local retail market is generally improving.The following chart shows retail sales in South Florida. In recent years,the price per square foot has been slightly fluctuating up or down from year to year. Sales volume for 2015 was the highest in recent years.The median Days-on-Market(DOM)have been less than eight months in recent years. According to Costar, Palm Beach County retail rents have been increasing(year-over-year)and vacancy has been generally decreasing(year-over-year). • Asking rental rates in South Florida have increased by 8.4%from early 2018 to early 2019. • The vacancy rate in South Florida slightly increased from 3.5%to 4.1%from early 2018 to early 2019. The subject is located within the Boynton Beach submarket.The following bullet points relate to the subject's submarket: • Quoted rents in the subject submarket are slightly less than the asking rent for Palm Beach County. • Vacancy in the subject's submarket at 4.3%is slightly more than the average vacancy rate for South Florida. • Some new construction is occurring in this submarket. • Year-over-year trends in the subject's submarket of Boynton Beach include the following: o Asking rental rates within the subject's submarket have increased by 1.4%during the past year. o The vacancy rate decreased 0.73%during the past year. Page 3 of 27 No arm's length transactions involving the subject have occurred in the prior three years.The subject is not listed for sale on the open market and is not encumbered by a purchase and sale agreement. 0 Bldg Size 7,380 SF Source of Bldg Area PAPA Site Size 39,489 SF Property Type Retail Yr. Built 1963 Current Use Post office Rem. Econ. Life 25 years Occupancy owner vs.tenant/% 100%by tenant Quality Average Zoning C2(Neighborhood Commercial) Condition Average Conformance to Zoning No,grandfathered-in Date of Inspection July 11,2019 Property Inspected by Jonathan Whitney FEMA Flood Zone X The subject is located at a signalized intersection and has a parking ratio of 7.6 spaces per 1,000 SF of building,which is a good ratio in the local market. In 1963,the subject was improved with a one-story office building;the existing improvements largely consist of open work areas with higher than typical clear height in the local market.The property is currently 100%occupied by a single tenant (United States Postal Service)utilizing the property as a post office.The lease was executed in June 2002,renewed in January 2013, and then again in February 2018 for an additional five-year term,expiring in January 2023. No renewal options remain.The current annual base rent is$74,929,or$10.15/SF NN.This rate is below market rent for the area. . w As vacant:The subject property is attractive for development of a residentially-focused mixed-use project,possibly in conjunction with surrounding uses, utilizing the available intensity under an easily secured administrative zoning change to MU-2 or MU-3,which would allow for 40 to 50 units per acre plus a height of 75'.These mixed-use projects appear financially feasible in the local market based on recent nearby developments.The highest and best use is for immediate development of a residentially-focused mixed-use project, with possible assemblage with surrounding uses. As improved:The property is improved with an older commercial building that is leased to the United States Postal Service.The land value is estimated to be around$40/SF(or$1,600,000),which is just slightly less than the value as improved under the fee simple ownership($1,750,000). Based on the property's current building features(floor-to-ceiling windows,high clear height,and open layout),good road visibility,and on-site vehicular movement/configuration,an alternative user of the space would be interested in retrofitting the space for another retail use, utilizing the existing building shell.The property is a candidate for a significant capital improvement program to increase its value in the interim until the land surpasses the value as improved and it becomes feasible to redevelop the site with a more intense use.An owner user is the most probable purchaser currently.The highest and best use as improved is for interim use of the existing retail building by a single occupant,involving retrofitting and-or a capital improvement program to increase its value in the short term until land prices surpass the value as improved and the subject is redeveloped with a residentially-focused mixed-use project,with possible assemblage with surrounding uses. The most probable purchaser is an owner user, based on the sales data.Since the property is leased until January 31,2023,an investor may be interested in the income stream until the property can be sold to an owner user. The cost approach is based on the principle of substitution that states an informed purchaser will not pay more for a property than the cost of reproducing a property with identical improvements having the same utility.This approach consists of estimating value for the site as vacant,adding direct and indirect costs of construction,deducting an estimate of accrued depreciation,and adding an appropriate entrepreneurial profit. Based on the subject's age,and the difficultly in determining an appropriate deduction for depreciation,this approach is not useful. The sales comparison approach is also based upon the principle of substitution whereby similar properties within competitive markets will realize similar prices.An informed purchaser would not pay more for the subject property than the cost to acquire another property with the same amenities and utility.Market data are readily available for estimating market value in the sales comparison approach. The income capitalization approach is based on the principle of anticipation whereby an investor expects benefits to be derived in the future. In evaluating future benefits,an informed purchaser will analyze income as well as how change affects income-producing characteristics of the property.This approach consists of analyzing a property's income and deducting appropriate expenses as well as evaluating appropriate capitalization methods.The most probable purchaser is an owner user and rents do not support prices paid by owner users;therefore,this approach is not useful. The final step in the valuation process is reconciliation of the value indications into final values by analyzing the appropriateness, accuracy and quantity of evidence in each approach. Page 4 of 27 The sales comparison approach is a method for estimating the subject's value by analyzing sales of similar property.A search of the immediate area provided a sufficient number of useful sales(comparables).The addenda show a map,summary chart,and photographs of these properties.The unadjusted prices are presented with the most relevant unit of comparison: price per building square foot. The unadjusted sale prices range from$165 to$288/SF of building.After adjustments for market conditions,location,site/parking ratio, building size,year built/condition,the sale prices have an adjusted price range of$223 to$245/SF and have a mean of$236/SF, which is a relatively tight range.Our analysis indicates a reasonable value range is$235 to$240/SF,or$1,735,000 to$1,770,000, say$1,750,000.We conclude the sales comparison approach indicates a value in"as is"condition of the fee simple interest at $1,750,000. Since the property is leased for the next four years(no renewal options remain)and the most probable purchaser is an owner occupant,a discounted cash flow model is necessary.The model in the addendum shows the contract base rent payments, appropriate landlord deductions(insurance and management/administration),and the associated net operating income(cash flows) over the next four years.Additionally,the net sale proceeds in the last year are$1,890,000,which is the value of the simple interest inflated by 3%per year and then reduced by sales commissions of 4%.The cash flows are discounted at a market-driven discount rate of 8.0%annually.The net present value is$1,600,000, rounded.We conclude the value of the subject's leased fee interest in"as is"condition is$1,600,000. As a point of reference,this value computes to an effective overall rate of 4.1%when using the net operating income,which is $65,301. � A � The quality of market data in these approaches is good,and the methods of analysis are appropriate and reasonable.The sales comparison approach includes sale prices above and below the subject's value on a per square foot basis as well as above and below the subject's value on an absolute basis.The sales data are good and the value is well supported. A A A Effective Date of Value Interest Appraised As Is Market Value Jul 11,2019 Leased Fee $1,600,000 � A Reasonable Ex osure Time: 12 months or less Marketing Time O inion: 12 months or less w wV I •�- �- -�eAe The most probable purchaser of the subject is an owner user, based on sales of similar property. However,since the property is leased,an investor would be interested in the income stream until the ro erty can be sold to an owner user. - A �-w None Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale,the buyer and seller each acting prudently and knowledgeably,and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: 1. Buyer and seller are typically motivated; 2. Both parties are well informed or well advised,and acting in what they consider to be their own best interests; 3. A reasonable time is allowed for exposure to the open market; 4. Payment is made in terms of cash in U.S.dollars or in terms of financial arrangements comparable thereto;and 5. The price represents a normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. Source: 12 CFR 34.42(g). w w w w •�- The intended user of this report is Michael Weiner and-or assigns.The intended use is for business decisions. This Appraisal Report conforms to USPAP requirements. Page 5 of 27 A I certify that,to the best of my knowledge and belief: • The statements of fact contained in this report are true and correct. • The reported analyses,opinions and conclusions are limited only by the reported assumptions and limiting conditions and are my personal,impartial,and unbiased professional analyses,opinions,and conclusions. • I have no present or prospective interest in the property that is the subject of this report,and I have no personal interest with respect to the parties involved. • I have no bias with respect to any property that is the subject of this report or to the parties involved with this assignment. • My engagement in this assignment was not contingent upon developing or reporting predetermined results,a specific valuation, or the approval of a loan. • My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client,the amount of the value opinion,the attainment of a stipulated result,or the occurrence of a subsequent event directly related to the intended use of this appraisal. • 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 Standards of Professional Appraisal Practice of the Appraisal Institute. • The reported analyses,opinions,and conclusions were developed,and this report has been prepared,in conformity with the Uniform Standards of Professional Appraisal Practice. • The reported analyses,opinions,and conclusions were developed,and this report has been prepared,in conformity with the requirements of the State of Florida. • The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. • Jonathan Whitney made a personal,visual inspection of the readily accessible areas of the property that is the subject of this appraisal. No one provided significant real property appraisal or appraisal consulting assistance to the person signing this certification. • As of the date of this report,we have completed the continuing education program of the State of Florida. • As of the date of this report,Jonathan Whitney has completed the continuing education program of the Appraisal Institute. • The undersigned has not provided services,as an appraiser or in any other capacity,regarding the property that is the subject of this report within the three-year period preceding acceptance of this assignment. July 26,2019 Jonathan 'Eitney, MAI State-certi ed General Real Estate Appraiser RZ2943 This appraisal is subject to the following contingent and limiting conditions: 1. The legal description and maps are assumed to be correct. 2. No responsibility is assumed for matters which are legal in character, nor is any opinion rendered as to title,which is assumed to be good and marketable.Any existing liens or encumbrances have been disregarded,and the property is appraised as free and clear. This appraisal is made,assuming that all public improvements of any kind affecting the property appraised are fully paid for, unless otherwise specifically set forth in the property description. 3. No survey has been made of the property on behalf of the appraisers and no responsibility is assumed in connection with such matters.The sketches contained in this report are for illustrative purposes only and are included to assist the reader to better visualize the property.The information furnished by others is believed to be reliable and no responsibility is assumed for its accuracy. 4. In this report,the distribution of the total valuation between land and improvements applies only under the existing program of utilization.The separate valuations for land and improvements must not be used in conjunction with any other appraisal and are invalid if so used. 5. Possession of this report,or a copy thereof,does not carry with it the right of publication,nor may it be used for any purpose by any but the recipient without written consent of the appraiser. 6. The contract for appraisal,consultation,or analytical service is fulfilled and total fee is payable upon completion of the report.The appraisers will not be required to give testimony in court or hearing because of having made the appraisal in full or in part, nor engage in post-appraisal consultation with the client or third parties,except under separate and special arrangement and at additional fee. 7. The appraisers may not divulge material contents of the report,analytical findings or conclusions or give a copy of the report to anyone other than the client or his designee as specified in writing,except as may be required by the Appraisal Institute as it may request in confidence for ethics enforcement or by a court of law of body with the power of subpoena. 8. Liability of Aucamp, Dellenback&Whitney is restricted to the client.Aucamp, Dellenback&Whitney has no accountability or liability to any third party. 9. It is assumed there are no hidden or unapparent conditions of the property,subsoil or structures which make it more or less valuable.The appraiser assumes no responsibility for such conditions or engineering which might be required to cover these facts. No topographical survey was provided. 10. No environmental impact study,special market study or analysis, highest and best use analysis or feasibility study has been requested or made unless otherwise specified in an agreement for services or in the report.The appraiser reserves the unlimited right to alter,amend, revise or rescind any of the statements,findings,opinions,values,estimates or conclusions upon any subsequent such study or analysis or previous study or analysis subsequently becoming known to him. 11. The market value estimated and the cost used are as of the date of the estimate of value.All dollar amounts are based on the purchasing power and price of the dollar as of the date of the value estimate. 12. This appraisal expresses our opinion and employment to make this appraisal was in no way contingent upon reporting a predetermined value or conclusion.The fee for this appraisal or study is for the service rendered and not for time spent on the physical report. 13. The value estimated in this appraisal report is gross without consideration given to any encumbrance, restriction,or question of Page 6 of 27 title unless specifically defined.The estimate of value in the appraisal report is not based in whole or in part upon race,color or national origin of the present owners or occupants of properties in the vicinity of the property appraised. 14. Responsible ownership and competent property management are assumed. 15. It is assumed that there is full compliance with all applicable federal,state and local environmental regulations and laws, unless noncompliance is stated,defined and considered in the appraisal report. 16. It is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless a non-conformity has been stated,defined and considered in the appraisal report. 17. It is assumed that all required licenses,certificates of occupancy and consents or other legislative or administrative authority from any local,state or national government or private entity or organization have been or can be obtained or renewed for any use on which the value estimate contained in this report is based. 18. It is assumed that the utilization of the land and improvements is within the boundaries of the property lines,that the property described in that there is no encroachment or trespass unless noted in the report. 19. Authentic copies of this report are signed in ink. 20. Unless otherwise stated in this report,the existence of hazardous substances,including without limitation asbestos, polychlorinated biphenyls, petroleum leakage,or agricultural chemicals,which may or may not be present on the property,or other environmental conditions,were not called to the attention of nor did the appraiser become aware of such during the appraiser's inspection.The appraiser has no knowledge of the existence of such materials on or in the property unless otherwise stated.The appraiser, however,is not qualified to test such substances or conditions. If the presence of such substances,such as asbestos,urea formaldehyde foam insulation,or other hazardous substances or environmental conditions may affect the value of the property,the value estimated is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value. No responsibility is assumed for any such conditions,nor for any expertise or engineering knowledge required to discover them. 21.The Americans with Disabilities Act(ADA)became effective January 26, 1992.The appraisers have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property,together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. If so,this fact could have a negative effect upon value of the property. Since the appraisers have no direct evidence relating to this issue, possible noncompliance with the requirements of ADA in estimating the value of the property has not been considered. 22.The report may contain estimates of prospective value for the subject property. Forecasts and prospective values are based upon current market conditions and trends.Aucamp, Dellenback&Whitney cannot be held responsible for unforeseeable events that alter market conditions prior to the prospective dates. 23. Acceptance and/or use of this appraisal report constitutes acceptance of the preceding conditions. 1)Subject Photographs 2)Plat/Site Map 3)Comparable Photographs 4)Subject and Comparable Location Map(s) 5)Appraiser's Qualifications 6)Copy of Appraiser's and Inspector's State Certification/License Page 7 of 27 SUBJECT PHOTOGRAPHS t�th{rr�tlU, tm��n� fill tstttltt4}�}�i��1�4i��t<4s�Qia3U�1i: - r.i 3f y J t�4� y� � to#` t r tFY 't s•, "� '� � �j}�� a�h�s m �ik4 t t �t,5��yi ��7{,f r�5�ta�d.�)�1 @ � �'��`fl�t q � fl t i x'11 A� fie u,t I s }594 ��'•- � ,� x - � ;�laF��_..S�i�t6°at �j=� t3� (f „�;, ,5 •'"1';�.�t�+yy �rs"n tJ7��.y�1�`j�'�'t�'��„�v},�i�i��S�A } t Facing subject from front parking lot (east and north elevations shown) t mtt1T�» At�, 11,41 n-- 1 i y r �„w P p ?t t � t ks _'^�.,� �..-, ,{nth �, � 6� k...�� 'c� ��\t„'a '� `'• �+,��»�P Facing west along W Boynton Beach Blvd with subject on the left Page 8 of 27 r , 4' x, t` f Facing subject's rear parking lot along W Boynton Beach Blvd dtt�ilSSiVidtS� s ` , ss IN hl Ott �i `�=�iR'Sl{Suitt lift 11a1 ��tt irttip f (� {fn �'p 49 y _ d i „r�, i i F r �� i io- �d iii i r i�- �lrtrx„;�r i'S�t�td�i li d't ii�d£R i t I North and west elevations shown Page 9 of 27 -- il. - � fir 1�t( r11 ,i k i � z t y Subject entrance/lobby Page 10 of 27 SITE MAP (subject is outlined in red) rbc j � i � r � 011 w i� a�r ;•�#��`&F�`#�',�f.N�.� 3��'�� IJ� 4a - r_ �r sib 1_ 7yk P{ �� Its t�y„„�`��jst7��tv4��4��(�E;��\i��Y��ifiu,:f,�r�i,n r,3��,�z1��.��•21��ri}tN"�3�Z�� s�i �1 �`�i� 2}i ll�� Al b i`": r �{��t�y��t ., i2�{�y �a,�r �� 7n Vd�l' m 1"I .f)pl E`iP+.IC.1 P�IG`CI it z;, ��^Kca' 1 �t ttt v ` t i r �I Page 11 of 27 SALES COMPARISON APPROACH SUMMARY OF COMPARABLES Post Office,217 N Seacrest Blvd.,Boynton Beach,Florida(19-0940E) ADW Property # 9606 9715 6335 8530 8472 8984 Property Name Post Office Fm Art Glass Weiss Walgreens Palm Beach Congregationa Memorial Reposition Recovery I United Chapel Church Address 217 N Seacrest 440 SE 5th Ave 202 E Boynton 4998 10th Ave 1110 6th Ave S 115 N Federal Blvd. Beach Blvd N Hwy City Boynton Beach Delray Beach Boynton Beach Greenacres Lake Worth Boynton Beach Sale: Sale Price N/A $2,450,000 $835,000 $2,250,000 $1,500,000 $3,000,000 Sale Status N/A Closed Closed Closed Closed Closed Marketing Period N/A 11 months 5 months 0 months 3 months 0 months Date of Sale N/A Mar-19 Dec-18 Nov-1 8 Jul-18 May-18 Price/SF Bldg N/A $270 $278 $165 $288 $220 Site: Site Size Acres 0.91 0.65 0.30 2.87 0.39 1.29 Site Size SF 39,489 28,377 12,898 125,163 17,001 56,192 Floor Area Ratio 0.19 0.32 0.23 0.11 0.31 0.24 Zoning C2 GC C3 CG MU-E CBD Prkg Ratio/1,000 SF 7.60 2.31 5.67 5.28 4.62 4.03 Buildin : Property Type Retail Retail Retail Retail Office Other Building Size (SF) 7,380 9,090 3,000 13,635 5,200 13,664 Year Built 1963 1963 1952 1999 1975 1953 Condition Average Avg to Good Good Average Good Avg to Good Quality Average Avg to Good Avg to Good Avg to Good Avg to Good Avg to Good Stories One One One One One Two Economics: Occupancy 100% 100% 0% 0% 100% 100% Single/Multiple Single Single Single Single Single Single Occupant Tenant Buyer Future Tenant Future Tenant Buyer Buyer Page 12 of 27 ADJUSTMENTS TO COMPARABLES Post Office,217 N Seacrest Blvd., Boynton Beach, Florida(19-0940E) Sale Status N/A Closed Closed Closed Closed Closed Sale Date N/A Mar-19 Dec-18 Nov-18 Jul-18 May-18 Floor Area Ratio 0.19 0.32 0.23 0.11 0.31 0.24 Parking Ratio 7.60 2.31 5.67 5.28 4.62 4.03 Building Size(SF) 7,380 9,090 3,000 13,635 5,200 13,664 Year Built 1963 1963 1952 1999 1975 1953 Condition Average Avg to Good Good Average Good Avg to Good Quality Average Avg to Good Avg to Good Avg to Good Avg to Good Avg to Good Stories One One One One One Two Unadjusted Price/SF Bldg N/A $270 $278 $165 $288 $220 Transactional Adjs: Market Conditions SIMILAR SIMILAR SIMILAR SIMILAR INFERIOR Adjustment 0% 0% 0% 0% 5% Adjusted Price/SF $270 $278 $165 $288 $231 Property Adjs: Location SUPERIOR SIMILAR INFERIOR INFERIOR SUPERIOR Adjustment -15% 0% 35% 5% -10% Parking Ratio INFERIOR SIMILAR SIMILAR INFERIOR INFERIOR Adjustment 10% 0% 0% 5% 5% Building Size (SF) SIMILAR SMALLER LARGER SIMILAR LARGER Adjustment 0% -10% 5% 0% 5% Year Built/Condition SUPERIOR SUPERIOR SUPERIOR SUPERIOR SIMILAR Adjustment -5% -5% -5% -25% 0% Net Adjustment -10% -15% 35% -15% 0% Adjusted Price/SF N/A $243 $237 $223 $245 $231 Gross Adjustment N/A 30% 15% 45% 35% 25% UNADJUSTED PRICES Yi Range Minimum $165 Range Maximum $288 ADJUSTED PRICE STATISTICS Y• Range Minimum $223 Range Maximum $245 Standard Deviation $9 Mean $236 Page 13 of 27 DICOUNTED CASH FLOW ANALYSIS Post Office,217 N Seacrest Blvd., Boynton Beach, Florida(19-0940E) Subject's Base Contract Rent $74,929 $74,929 $74,929 $74,929 Landlord Expenses Insurance -$7,380 -$7,601 -$7,829 -$8,064 Management/Admin @ 3% -$2,248 -$2,248 -$2,248 -$2,248 Net Operating Income $65,301 $65,080 $64,852 $64,617 Prospective Value (Net Sale Proceeds) $1,890,000 Cash F I ows $65,301 $65,080 $64,852 $1,954,617 Conclusions NPV "As is" $ 1,604,442 Rounded $ 1,600,000 Periods per Year 1 Discount Rate: 8.0% Page 14 of 27 MAP OF COMPARABLES WellingLon (LE, i—Innproved Sale No. 3 I� rpve l Sale No. 4,—' Greeracres 5 Dake Wopfi (' �2) Atlantis Lantana r _ t ltt�I�l e; t Pr �s(u tR"i ire � Boy'ntC91 nw„ Bead _Inipro ed Sale No. 2 Delray Beach Kings, Point ln,iproved Sale No. I Highland Bach mission Bay Boca Raton Page 15 of 27 COMPARABLE 1 � 1}� a z, `� S�SSS+1',t£ n)y l{syt1-jai {4i•�� I}4�i�{,"4��{�t� --_ b �l� .'� -"){ `�P ft4 (� ,s f{£�i`rf1` �"` �(�} s�� {��#X114`1}"tt �t��• �stfi S 5 General Data Property Name: Fmr Art Glass Property Type: Retail, Retail Other Address: 440 SE 5th Ave, Delray Beach, Florida 33483 County: Palm Beach Parcel ID: 12-43-46-21-01-002-0020 Legal Description: OSCEOLA PARK LTS 2 THRU 4 (LESS E 5 FT US HWY 1 R/W) & LT 5 (LESS E 5 FT& RTN CRV US HWY 1 R/W) BLK 2 Site Data Site Size: 0.65 acres or 28,377 SF Floor Area Ratio (FAR): 0.32 Zoning: GC Parking Ratio: 2.3 spaces per 1,000 SF Site Remarks: Located on a corner along Federal Hwy just south of the CBD boundary for downtown Delray Beach Building Data Use/Finish: Retail Size SF: 9,090 Year Built: 1963 Condition: Avg to Good Quality: Avg to Good Stories/Floors: ONe Building Remarks: Extensively renovated in 2002. Financial Data Occupancy at Sale: 100% Single/Multiple Single Occupant(s): Owner Page 16 of 27 Sale Data Sale Status: Closed Price: $2,450,000 Price/SF of Building: $269.53 Sale Date: March 2019 O.R. Book-Page: 30501-0695 Grantor: Shield Investment Group, Inc Grantee: 440 SE 5th Ave, LLC Property Rights: Fee simple Financing: 70% LTV via BB&T Marketing Period: 11 months Listing Price at Sale: $2,700,000 Prior Transactions: None in previous three years Verification Source: Todd Wilson, Listing broker, via MLS, Jonathan Whitney, July 2019 (19- 0940E) Sale Remarks: Believed to have been purchased by an owner user. Property consisted of a large open showroom and some office areas. Floor plan was a bit disjointed. Page 17 of 27 COMPARABLE 2 �}'R? r` , r General Data Property Name: Weiss Memorial Chapel Property Type: Retail, Retail Other Address: 202 E Boynton Beach Blvd, Boynton Beach, Florida 33435 County: Palm Beach Parcel ID: 08-43-45-28-03-003-0091 Site Data Site Size: 0.30 acres or 12,898 SF Floor Area Ratio (FAR): 0.23 Zoning: C3 Parking Ratio: 5.7 spaces per 1,000 SF AADT (Traffic Count): 33,915 Site Remarks: This is adjacent to the new Town Square Building Data Use/Finish: Funeral Home Size SF: 3,000 Year Built: 1952 Condition: Good Quality: Avg to Good Class: C Stories/Floors: One Financial Data Occupancy at Sale: 0% Single/Multiple Single Occupant(s): Future Tenant Page 18 of 27 Sale Data Sale Status: Closed Price: $835,000 Price/SF of Building: $278.33 Sale Date: December 2018 O.R. Book-Page: 30337/00731 Grantor: Gloria Weiss Realty LLC Grantee: 202 E Boynton Bch Blvd LLC Property Rights: Fee simple Financing: None recorded Marketing Period: 5 months Listing Price at Sale: $890,000 Prior Transactions: None in the prior three years Verification Source: Gloria Weiss, Rep of Seller, 561-483-9835, Zach Weygandt, February 2019 (19-0203) Sale Remarks: Seller was an owner user funeral home that vacated at sale. Seller believes her contract was flipped to the recorded buyer for an additional price above $835,000, but this could not be confirmed. Seller believed improvements were going to be used, but modified for a medical-related use. Was under contract for seven months. While zoned C3, property could be rezoned for mixed-uses per the CRA's recommendation of a land use of MU medium (40 units per acre), and a zoning district of MU- 2 or MU-3 for 40 to 50 units per acre and height of 75'. Highest and best use is interim use with the existing improvements until the property can be assembled and redevelopment. Page 19 of 27 COMPARABLE 3 ryry t �l General Data Property Name: Walgreens Reposition Property Type: Retail, Retail Other Address: 4998 10th Ave N, Greenacres, Florida 33463 County: Palm Beach Parcel ID: 18-42-44-24-35-001-0000 Legal Description: HAVERHILL SQUARE PL PAR A K/A COMMERCIAL Site Data Site Size: 2.87 acres or 125,163 SF Floor Area Ratio (FAR): 0.11 Zoning: CG Parking Ratio: 5.3 spaces per 1,000 SF AADT (Traffic Count): 22,000 Site Remarks: Signalized corner at 10th Ave N and S Haverhill Rd Building Data Use/Finish: Retail Size SF: 13,635 Year Built: 1999 Condition: Average Quality: Avg to Good Stories/Floors: One Building Remarks: One drive-thru lane located at south side of the building Financial Data Occupancy at Sale: 0% Single/Multiple Single Occupant(s): Future Tenant Net Operating Income: N/A N/A Overall Capitalization Rate: N/A Page 20 of 27 Sale Data Sale Status: Closed Price: $2,250,000 Price/SF of Building: $165.02 Sale Date: November 2018 O.R. Book-Page: 30257/01583 Grantor: Federated Industries, Inc. Grantee: HAVERHILL ROAD REALTY LLC Property Rights: Leased fee Financing: N/A Marketing Period: 0 months Prior Transactions: Has not sold in previous three years. Verification Source: Trey Morgan, buyer, 704-909-4500, Jonathan Whitney, November 2018 (18-1428) Sale Remarks: A vacant Walgreens was purchased by an investor. This property was not listed on the open market. Walgreens had one year remaining on its lease term (at$260,000 in annual rent) and the seller agreed to have remainder of the lease bought-out at a reported cost (in principal) of $110,000, based on 50% of Walgreens remaining rent. The buyer approached the seller directly without a tenant in tow and believed he could acquire a tenant. This price is reported to be market driven. Tenant was secured during the contract period with Senior Medical Centers, a local/regional medical office user, for 10 years, with $40/SF of LL TI, and a base rent of$299,970, or$22/SF NNN. Page 21 of 27 COMPARABLE 4 t i 1 General Data Property Name: Palm Beach Recovery Property Type: Office, Office Building Address: 1110 6th Ave S, Lake Worth, Florida 33460 County: Palm Beach Parcel ID: 38-43-44-21-15-179-0210 Legal Description: TOWN OF LAKE WORTH LTS 21 THRU 24 BLK 179 Site Data Site Size: 0.39 acres or 17,001 SF Floor Area Ratio (FAR): 0.31 Zoning: MU-E Parking Ratio: 4.6 spaces per 1,000 SF AADT (Traffic Count): 31,163 Site Remarks: Adjacent to railroad tracks Building Data Use/Finish: Office Size SF: 5,200 Year Built: 1975 Condition: Good Quality: Avg to Good Class: C Stories/Floors: One Building Remarks: The property was previously a drug rehab center and some plumbing fixtures are located throughout the building. The property was rebuilt in 2014 and has 12' clear heights. Page 22 of 27 Financial Data Occupancy at Sale: 100% Single/Multiple Single Occupant(s): Buyer Sale Data Sale Status: Closed Price: $1,500,000 Price/SF of Building: $288.46 Sale Date: July 2018 O.R. Book-Page: 29986-716 Grantor: MAC Group Holdings, LLC Grantee: 1110 6th Avenue South, LLC Property Rights: Fee simple Financing: None recorded Marketing Period: 3 months Listing Price at Sale: $1,900,000 Prior Transactions: Sold for$300,000 in December 2015 Verification Source: James Hicks, listing broker, 561-838-9555, Jonathan Whitney, October 2018 (18-1345) Sale Remarks: Buyer owns a chain of nursery schools and plans to occupy the property. It was reported that this property is relisted for sale at an unknown price. Page 23 of 27 COMPARABLE 5 , t i Ih- Ilf�j General Data Property Name: Congregational United Church Property Type: Assembly-Meeting Place, Religious Facility Address: 115 N Federal Hwy, Boynton Beach, Florida 33435 County: Palm Beach Parcel ID: 08-43-45-28-03-006-0010; 08-43-45-28-03-001-0100 Legal Description: Lots 1 -7, Block 6, Original Town of Boynton Site Data Site Size: 1.29 acres or 56,192 SF Floor Area Ratio (FAR): 0.24 Zoning: CBD Parking Ratio: 4.0 spaces per 1,000 SF AADT (Traffic Count): 22,972 Site Remarks: Two parcels separated by a public road one with frontage along N Federal Hwy Building Data Use/Finish: Religious Size SF: 13,664 Year Built: 1953 Condition: Avg to Good Quality: Avg to Good Stories/Floors: Two Building Remarks: Religious facility Financial Data Occupancy at Sale: 100% Single/Multiple Single Occupant(s): Buyer Page 24 of 27 Sale Data Sale Status: Closed Price: $3,000,000 Price/SF of Building: $219.56 Sale Date: May 2018 O.R. Book-Page: 29857/00580 Grantor: Boynton Beach Congregational United Church of Christ Grantee: Boynton Beach Community Redevelopment Agency Property Rights: Fee simple Marketing Period: 0 months Prior Transactions: None in the prior three years Verification Source: Confidential, Zach Weygandt, February 2019 (19-0203) Sale Remarks: Former religious facility that will be used as a library while the downtown Town Square is being redeveloped. Long-term plans are likely for redevelopment; price per SF of land is $53/SF. Market-driven price paid for property, though it was an off-market transaction. Long-term plans are for redevelopment; land use permits 80 units per acre and CRA's zoning recommendation is MU-Core for 80 units per acre and maximum height of 150'. Page 25 of 27 APPRAISER QUALIFICATIONS AND LICENSE JONATHAN D. WHITNEY, MAI Aucamp, Dellenback&Whitney 1900 NW Corporate Blvd, Suite 215E 4' Boca Raton, FL 33431 jon@adw-appraisers.com t ti 561-609-2884 is Professional Experience Aucamp, Dellenback&Whitney, 2003 - Present (16 years) Real Estate Appraisers &Consultants • Principal, 2015 - Present • Commercial Real Estate Appraiser, 2003 - Present 4 Jonathan Whitney is known for his extensive knowledge of the South Florida commercial real estate market. He heads the team of seven commercial real estate appraisers for independent Aucamp, Dellenback& Whitney (ADW), and values all major real property types: industrial, office, retail, and multifamily. Valuation assignments also include vacant development sites, residential subdivisions/condominiums, mixed-use buildings, and special-purpose properties. His partner, David Aucamp, SRA, heads the residential side of their firm with a separate team of seven residential appraisers. ADW's service area includes the tri-county South Florida region (Miami-Dade County, Broward County, and Palm Beach County). Clients mostly include lenders, but also include investors, property owners, developers, brokers, attorneys, CPAs, associations, municipalities, and CRAB. Real estate appraisal and consulting assignments involve estimating market value and-or market rent, and providing expert witness testimony. Valuation assignments range between relatively straight forward assignments to multiple-phased projects with complex cash flow considerations. Notable recent assignments include: • Lion Country Safari, Loxahatchee (650-acre tourist destination) • Okeechobee Business District, West Palm Beach (10-acre urban district proposed by City) • Prospect Place, West Palm Beach (proposed 9.32-acre mixed-use proposed by Time Equities) • 888 Brickell Ave, Miami(proposed 200,000-SF urban office tower by Mezerhane) • 150 & 151 Worth Ave, Palm Beach (150,000-SF"hi-street"retail, anchored by Saks &Neiman) • New River Yacht Club 11, Ft Lauderdale (proposed 349-unit multifamily tower by Related Group) • Gulfstream Point, Hallandale (proposed 297-unit multifamily tower by Florida East Coast Realty) • Atlantic Crossing, Delray Beach ($300 million urban mixed-use project by Edwards& CDS Intl) • North40, Boca Raton (350,000-SF suburban office buildings held by Mainstreet Capital) • TT Portfolio, Broward County(retail and industrial holdings totaling 480,000 SF) • DH Portfolio, Palm Beach County(office and industrial holdings totaling 520,000 SF) Education Master of Arts in Business, University of Florida, 2000 Bachelor of Science in Economics, University of Florida, 1999 Numerous Education Courses, Appraisal Institute, 2003 - Present (partial list on following page) Page 26 of 27 Activities and Affiliations Florida State-certified General Real Estate Appraiser, RZ 2943, 2006 - Present Florida State-registered Trainee Appraiser, RI 11475, 2003 -2006 Appraisal Institute, 2003- present • Board of Directors, South Florida Chapter, 2018 -2020 • Designated Member(MAI), 2013 - Present • Associate Member, 2004- 2013 Zoning Board of Adjustment, City of Boca Raton, 2013 - 2018 • Vice Chair, 2017- 2018 • Member, 2013 - 2018 NAIOP South Florida Chapter, • Member, 2019— Present Urban Land Institute (ULI) • Associate Member, 2019— Present Commercial Real Estate Development Association (NAIOP) • Member, 2019 - Present Boca Raton Federation of Homeowners (parent association for Boca), 2018 - Present • Executive Board Member, 2018 - Present Boca Raton Chamber of Commerce Member(ADW), 1990s- Present • Leadership Boca, Class of 2016 National Association of Divorce Professionals (NADP) Member, 2017 - Present Boca Raton Downtown Rotary Club Member, 2016- Present • Mayor's Ball Committee Member, 2016 - Present Community Captain, Boca Raton Bowl, 2016 - Present Mentor, Eda & Cliff Viner Community Scholars Foundation, 2016- Present Spanish River Church, 2011 - Present • Elder, Spanish River Church, 2017— Present • Member/Various Leadership Roles, 2011 —Present ,Jq RICK SC-oCIW[RNOR JONATHAN 2£t HEM,S[CFCTAFeV p db' pr W�� STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION' FLORIDA REAL ESTATE APPRAISAL BD THE CERTIFIED GERERpt•_ UNDER THE PROVISCQNS QF LHAPTEI{475,FLORIDA STATUTES WHITN{Y,,JC31VA7 HAN p+Ql1GLAS BLVfL--- #3pEa i s S .,,EIGF�kSE NU ERS RZ2493�,; N.ua...' u E#PIRpT30N pgTE:NOVEMBER 30,2020 AI ) v ily 11ti it es[MYt3. t'>n,e., I,f D-Tot,Ile'hl,U.'a t nt m u,yte'n, ® Thl,is ycurlcen It 15urlfu forinymne other thnu the l'ce -to use this d cumeut. Page 27 of 27 APPRAISAL REPORT Boynton icy I Building 209 N t Blvd, Boynton Beach, FIL 33435 Market Value: $1,400,000 as of July 11, 2019 a \ r I e if, 4 { r' Property l dentif l tion: Report Prepared Report Prepared For(Client): 209 N Seacrest Blvd,Boynton Beach,FL Jonathan Whitney,MAI,State-Certified General Michael S.Weiner,Esquire 33435 __ Real Estate Appraiser RZ2943 Sachs Sax Caplan,P.L. Tax Parcel I s 08 43-45-28-10-004-0221 Aucamp,Dellenback&Whitney Appraisers 6111 Broken Sound Pkwy, Tax Assessment:$745,194 2018 1900 NW Corporate Blvd,215 E Suite 200 Annual Tax Amount:$19,009 2018) Boca Raton,FL 33431 Boca Muton,FL 33487 Delinquent Taxes:No 561-998-9326 Owner: Boynton Boundless, LLC _CQkL , Date of the Re ort:Jul 26,2019 (File#:19-09400) IN 6 � Purpose: To estimate market value In"as is"condition Interest Appraised: Fee simple interest Client: Michael Weiner Intended User The intended user of this report is Michael Weiner and-or assigns Intended Use: The intended use of the report is to provide information for use in making business decisions. Report Format: Appraisal Report(Form) Inspection Date: July 11,2019 Effective Date: July 11,2019 Report Date: July 26,2019 Competency Rule: We had the knowledge and experience necessary to complete this assignment competently at the time of its acceptance. Hypothetical Conditions: None Extraordinary Assumptions None Valuation Approaches: The sales comparison approach provides an estimate of market value based on an analysis of comparable property sales. Other° Jonathan Whitney inspected the readily accessible areas of the subject site and improvements, performed the research and analysis,and wrote this report. Page 1 of 25 > - lian; aiiiiin J=,1 IN 1 1111 1 111,1 1,1 11:1 Sub'ect Fera ert Name: Boynton Beach Municipal Building Address: 209 N Seacrest Blvd,Boynton Beach,FL 33435 Location: Within the municipality of Boynton Beach,Palm Beach County,Florida Legal Description: Lots 23,2 ,2 ,26 and 27,and the South 7 feet of Lot 22,Block 4,BOYNTON HEIGHTS,according to the Plat thereof,as recorded in Plat Book 10,Page 64,of the Public Records of Palm Beach County,Florida;LESS the additional right-of-way for Seacrest Boulevard as shown in Road Plat Book ,Page 182,of the Public Records of Palm Beach County,Florida.(Source:Warranty Deed) Current Owner: Boynton Boundless, LLC Ownership History: No arm's length transactions involving the subject have occurred in the prior three years. Items Received: Leases arke Data Sources: Costar Realty(subscription service),LoopNet. m(subscription service),Multiple Listing Service (subscription service),PwC heal Estate Investor Survey(subscription service),published reports from national brokerage firms,RealOuest(subscription service),Site-To-Do-Business(subscription service),Floodmaps. m(subscription service),RealtyRates.com(subscription service),Marshall Valuation Service(subscription service),local county property appraiser's records(public records), Circuit Court recordings(public records),and appraisal files in this office Types of Data: Office and retail building sales Geographic Area: Primary:Boynton Beach;secondary:Palm Beach County;tertiary:South Florida Verification: Sales were verified a ori to each transaction,unless otherwise noted. � s � The subject neighborhood is the downtown area of Boynton Beach.This downtown area is the greater area surrounding the intersection of Boynton Beach Blvd and Federal Hwy.The neighborhood is in the revitalization stage of a typical neighborhood life cycle. Boynton Beach Blvd is a four-lane,traffic artery with an interchange with 1-95.Seacrest Boulevard is a collector roadway in the eastern part of the neighborhood.Federal Hwy is the primary north-south thoroughfare.Local streets connect with Boynton Beach Boulevard and Federal Hwy.Overall,the roadway network is good. Most of this neighborhood corridor was developed with single-family homes in the 1940s and 1950s.Some of these buildings have been converted to commercial use by single occupants.Lots are relatively small and most conducive to use by small buildings.The eastern end of the neighborhood was initially developed wth some small,low-intensity commercial buildings. The City and the CRA(Community Redevelopment Agency)has been actively encouraging a more intensive downtown over the years.The downtown had a relatively low profile until three major redevelopment projects were completed during recent years. • Marine Village along E Ocean Avenue was completed in 2006 with up to 14 floors of several hundred residential condominium units above 20,000 SF of first floor retail space.Residential units are being listed around$250,000 to$350,000. ® The Promenade along N Federal Highway was completed in 2009 with 14 floors of 323 residential condominium units above 19,000 SF of first floor retail space.The loan note on the unsold inventory of approximately 250 units was sold to a prominent South Florida developer,The Related Group.This buyer subsequently took title in a"friendly foreclosure"and changed the name to Casa Costa.These units are being listed around$350,000 and greater. • 500 Ocean is a major new project that has recently completed construction wth 341 residential units and 20,000 SF of commercial space at the southwest corner of Federal Highway and E Ocean Avenue.The apartments are renting from$1,500 to$2,500 per month. Boynton Beach's former City Hail is currently being redeveloped into Boynton Beach Town Square.This 16-acre site along the south side of Boynton Beach Boulevard will consist of a large new municipal and cultural complex. The local offs market is generally improving.The price per square foot shows year-over-year increases,though the sales volume for 2016 was the highest in recent years.The median Days-on-Market(DOM)have been less than eight months for the past four years. According to Costar,Palm Beach County office rents have been increasing(year-over-year)and vacancy has been generally decreasing(year-over-year). • Asking rental rates in Palm Beach County have increased by 1.5%from early 2018 to early 2019,which is less than recent annual increases. • The vacancy rate in Palm Beach County slightly decreased from 10.0%to 9.9%from eady 2018 to early 2019. The subject is located within the Boynton Beach submarket.The following bullet points relate to the subject's submarket: • Quoted rents in the subject submarket are less than the asking rent for Palm Beach County. • Vacancy in the subject's submarket at 8.9%is less than the average vacancy rate for South Florida. • No new construction is occurring in this submarket. • Year-aver-year trends in the subject's submarket of Boynton Beach include the following: o Asking rental rates within the subject's submarket have increased by 3.7%during the past year. o The vacancy rate decreased 1.8%the past year. Page 2 of 25 =Size nsactions involving the subject have occurred in the prior three years.The sub) is not listed for sale on the open ncumbered by a purchase and sale agreement. Bldg 6,961 SF Source of BId Area PADA Site Size 12,569 SF Fro ertT e Office Yr.Built 1961 Current Use Office-retail Rem.Econ.Life 25 years Occupancy(owner vs.tenant/,0/ 100%by tenants Quality Average to Good Zoning C2,i(Neighborfiood Commercial) Condition Good Conformance to Zoning No,grandfathered-in Date of Inspection I July 11,2019 Pro ert Inspected by Jonathan Whitney FEMA Flood Zone X The subject has a parking ratio of 1.9 spaces per 1,000 SF of building,which is insufficient for its use,though average for the local area;additional public parking is located on public streets.In 1961,the subject was improved with a story office building that is currently being used by the City of Boynton Beach(Police and Utility Services)as well as a real estate office,both related to the development across the street from the subject(new municipal complex).The functional utility of the space is below average;the layout is very choppy in areas,and the second floor tenant must travel through the first floor tenants space to reach the stairs.It is best suited for a single occupant as there is multiple interior connection points throughout the space.The subject's roof was significantly repaired in recent years,and 12 years ago,the building underwent a gut renovation;a portion of the second floor was previously used as an apartment,The leases will expire in May and June of 2020,and have renewal options.We estimate renewals are not likely since the new municipal complex will be complete next year,and the subject tenants will vacate.The current annual gross rent is$126,000,or$18.10/SF.This rate is similar to market rent for the area,given the low parking ratio. r As vacant:The subject property is attractive for development of a residentially-focused mixed-use project,possibly in conjunction with surrounding uses,utilizing the available intensity under an easily secured administrative zoning change to U-2 or U-3,which would allow for 40 to 50 units per acre plus a height of 75'.These mixed-use projects appear financially feasible in the local market based on recent nearby developments.The highest and best use is for immediate development of a residentially-focused mixed-use project, with possible assemblage with surrounding uses. As Improved:The property is improved with an older commercial building that is leased to two tenants:the City of Boynton Beach on the first floor and a real estate firm on the second floor.The land value is estimated to be around$35 to$40/SF,which is much less than the value as improved under the fee simple ownership(about$110/SF land).The buildings could not be developed as they exist today,based on inadequate parking.An owner user is the most probable purchaser on the subject based on sale trends.The highest and best use as improved is for use of existing office building by a single occupant.However,based on surrounding uses and the available intensity for development per the zoning code,the subject could be assembled and redeveloped. The most probable purchaser is an owner user,based on the sales data.The subject is only leased for the short term and will become available for an owner user within the year. MINEs The cost approach is based on the principle of substitution that states an informed purchaser will not pay more fora property than the cost of reproducing a property with identical improvements having the same utility.This approach consists of estimating value for the site as vacant,adding direct and Indirect costs of construction,deducting an estimate of accrued depreciation,and adding an appropriate entrepreneurial profit.Based on the subject's age,and the difficultly in determining an appropriate deduction for depreciation,this approach is not useful. The sales comparison approach is also based upon the principle of substitution whereby similar properties within competitive markets will realize similar prices.An informed purchaser would not pay more for the subject property than the cost to acquire another property with the same amenities and utility. The income capitalization approach is based on the principle of anticipation whereby an investor expects benefits to be derived in the future.In evaluating future benefits,an informed purchaser will analyze income as well as how change affects income-producing characteristics of the property.This approach consists of analyzing a property's income and deducting appropriate expenses as well as evaluating appropriate capitalization methods.The most probable purchaser is an owner user and rents do not support prices paid y owner users;therefore,this approach is not useful. The final step in the valuation process is reconciliation of the value Indications into final values by analyzing the appropriateness, accuracy and quantity of evidence in each approach. 'The sales comparison approach is a method for estimating the subject's value by analyzing sales of similar property.A search of the immediate area provided a sufficient number of useful sales(comparables).The addenda show a map,summary chart,and photographs of these properties.The unadjusted prices are presented with the most relevant unit of comparison:price per building square foot. The unadjusted sale prices range from$145 to$27 /SF of building.After adjustments for market conditions,location,parking ratio, FAR,building size,year builtfoondition,and utility,the sale prices have an adjusted price range of$187 to$209/SF and have a mean of$1 /SF.Our analysis indicates a reasonable value is$200/SF,or$1,400,000,rounded.We conclude the sales comparison approach indicates a value in"as is"condition of the fee simple interest is$1,40„000. Page 3 of 25 The quality of market data in these approaches is good,and the methods of analysis are appropriate and reasonable.The sales comparison approach includes sale prices above and below the subject's value on a per square foot basis as well as above and below the subject's va!ue on an absolute basis.The sales data are good and the value is well supported. _ Effective Date of Value _ Interest ApMlsed _ Is Market Value Jul 11,21919 Fee sire Ee $1,400,000 a� Reasonable Ex osure Time:12 months or less ldar etln Time 0 Inion:12 months or less The most robable urchaser of the subject is an owner user,based on sales of similar roe , None 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 conditionswhereby; 1. Buyer and seller are typically motivated; . Both parties are well informed or well advised,and acting in what they consider to be their own best interests; 3. A reasonable time is allowed for exposure to the open market, 4. Payment is made in terms of cash in U.S,dollars or in terms of financial arrangements comparable thereto;and 5. The price represents a normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated th the sale. IN Source:12 CFP 34.42 Ig I The intended user of this report is Michael Weiner and-or assigns.The intended use is for business decisions. This isal e o conforms to SPAP re uirements. v 1 certify that,to the best of my knowledge and belief. ® The statements of fact contained In this report are true and correct. ® The reported analyses,opinions and conclusions are limited only by the reported assumptions and limiting conditions and are my personal,impartial,and unbiased professional analyses,opinions,and conclusions. ® E have no present or prospective interest in the property that is the subject of this report,and I have no personal interest with respect to the parties involved. ® I have no bias with respect to any property that is the subject of this report or to the parties involved with this assignment. • My engagement in this assignment was not contingent upon developing or reporting predetermined results,a specific valuation, or the approval of a loan. ® My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client,the amount of the value opinion,the attainment of a stipulated result,or the occurrence of a subsequent event directly related to the intended use of this appraisal. ® 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 Standards of Professional Appraisal Practice of the Appraisal Institute. ® The reported analyses,opinions,and conclusions were developed,and this report has been prepared,in conformity with the Uniform Standards of Professional Appraisal Practice. • The reported analyses,opinions,and conclusions were developed,and this report has been prepared,in conformity with the requirements of the State of Florida. • The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duty authorized representatives. • Jonathan Whitney made a personal,visual inspection of the readily accessible areas of the property that is the subject of this appraisal.No one provided significant real property appraisal or appraisal consulting assistance to the person signing this certification. ■ As of the date of this report,we have completed the continuing education program of the State of Florida. • As of the date of this report,Jonathan Whitney has completed the continuing education program of the Appraisal Institute. • The undersigned provided services,as an appraiser or in any other capacity,regarding the property that is the subject of this report within the three-year period preceding acceptance of this assignment. it, _ July 26,2019 Jonathan'(unit y,MAJ ate-certified General Peal Estate AEgralser RZ2943 Page 4 of 25 � � s This appraisal is subject to the following contingent and limiting conditions: 1. The legal description and maps are assumed to be correct. 2. No responsibility is assumed for matters which are legal in character,nor is any opinion rendered as to title,which is assumed to be good and marketable.Any existing liens or encumbrances have been disregarded,and the property is appraised as free and clear. This appraisal is made,assuming that all public improvements of any kind affecting the property appraised are fully paid for,unless otherwise specifically set forth in the property description. 3. No survey has been made of the properly on behalf of the appraisers and no responsibility is assumed in connection with such matters.The sketches contained in this report are for illustrative purposes only and are included to assist the reader to better visualize the property.The information furnished by others is believed to be reliable and no responsibility is assumed for its accuracy. 4. In this report,the distribution of the total valuation between land and improvements applies only under the existing program of utilization.The separate valuations for land and improvements must not be used in conjunction with any other appraisal and are invalid if so used. 5. Possession of this report,or a copy thereof,does not carry with it the right of publication,nor may it be used for any purpose by any but the recipient without written consent of the appraiser, 6. The contract for appraisal,consultation,or analytical service is fulfilled and total fee is payable upon completion of the report.The appraisers will not be required to give testimony in court or hearing because of having made the appraisal in full or in part,nor engage In post-appraisal consultation with the client or third parties,except under separate and special arrangement and at additional fee. 7. The appraisers may not divulge material contents of the report,analytical findings or conclusions or give a copy of the report to anyone other than the client or his designee as specified in writing,except as may be required by the Appraisal Institute as it may request in confidence for ethics enforcement or by a court of law of body with the power of subpoena. . Liability of Au p,Dellenback&Whitney Is restricted to the client.Aucam ,Dellenback&Whitney has no accountability or liability to any third party. 9. It is assumed there are no hidden or unapparent conditions of the property,subsoil or structures which make it more or less valuable.The appraiser assumes no responsibility for such conditions or engineering which might required to cover these facts.No topographical survey was provided. 10. No environmental impact study,special market study or analysis,highest and best use analysis or feasibility study has been requested or made unless otherwise specified in an agreement for services or In the report.The appraiser reserves the unlimited right to alter,amend,revise or rescind any of the statements,findings,opinions,values,estimates or conclusions upon any subsequent such study or analysis or previous study or analysis subsequently becoming known to him. 11. The market value estimated and the cost used are as of the date of the estimate of value.All dollar amounts are based on the purchasing power and price of the dollar as of the date of the value estimate. 12. This appraisal expresses our opinion and employment to make this appraisal was in no way contingent upon reporting a predetermined value or conclusion.The fee for this appraisal or study is for the service rendered and not for time spent on the physical report, 1 . The value estimated in this appraisal report is gross Wthout consideration given to any encumbrance,restriction,or question of title unless specifically defined.The estimate of value in the appraisal report is not based in whole or in part upon race,color or national origin of the present owners or occupants of properties in the vicinity of the property appraised. 1 . Responsible ownership and competent property management are assumed. 1 . It is assumed that there is full compliance with all applicable federal,state and local environmental regulations and laws,unless noncompliance is stated,defined and considered in the appraisal report. 16. It is assumed that all applicable zoning and use regulations and restrictions have been complied with,unless a non-conformity has been stated,defined and considered in the appraisal report. 17. It is assumed that all required licenses,certificates of occupancy and consents or other legislative or administrative authority from any local,state or national government or private entity or organization have been or can be obtained or renewed for any use on which the value estimate contained in this report is based. 18. It is assumed that the utilization of the land and improvements is within the boundaries of the property lines,that the property described in that there is no encroachment or trespass unless noted in the report. 19. Authentic copies of this report are signed in ink. 20. Unless otherwise stated in this report,the existence of hazardous substances,including without limitation asbestos, polychlorinated biphenyls,petroleum leakage,or agricultural chemicals,which may or may not be present on the property,or other environmental conditions,were not called to the attention of nor did the appraiser become aware of such during the appraiser's inspection.The appraiser has no know4edge of the existence of such materials on or in the property unless otherwise stated.The appraiser,however,is not qualified to test such substances or conditions.If the presence of such substances,such as asbestos,urea formaldehyde foam insulation,or other hazardous substances or environmental conditions may affect the value of the property,the value estimated is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value°No responsibility is assumed for any such conditions,nor for any expertise or engineering knowledge required to discover them. 21.The Americans with Disabilities Act(ADA)became effective January 26,1992.The appraisers have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA.It is possible that a compliance survey of the property,together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act.If so,this fact could have a negative effect upon value of the property.Since the appraisers have no direct evidence relating to this issue,possible noncompliance with the requirements of ADA in estimating the value of the property has not been considered. 22.The report may contain estimates of prospective value for the subject property.Forecasts and prospective values are based upon current market conditions and trends.Aucamp,Dellenback&Whitney cannot be held responsible for unforeseeable events that alter market conditions prior to the prospective dates. 23. Acceptance and/or use of this appraisal report constitutes acceptance of the preceding conditions. Page 5 of 25 1) Subject Photographs 2) Plat/Site Map 3) Comparable Photographs 4) Subject and Comparable Location a (s) ) Appraiser's Qualifications 6p Copy of raiser's and Inspector's State Certification/License Page 6 of 25 SUBJECT PHOTOGRAPHS r_ tc sr- �- E S } y v g l b Facing north along N Seacrest Blvd (subject's south and east elevations shown) 3 , fi c r h r > i r s r r, M, r ' Facing south along N Seacrest Blvd with subject on the right Page 7 of 25 - � � S� n n - t k Open work area � s vtSJ ' y vq�?g1{�� p� NO t i Conference room Page 8 of 25 4 t Y 4_r { s+ a ttr � tii� s Typical restroom „zY I! r Hallway Page 9 of 25 SITE MAP (subject is outlined in red) It q 3 NLS qtr ntar6�d��rh i'�a6 q i �1. '?W¶l fiI�F'jf 44 +7l� sf ?n'�,�,. }� �Y- iC't t 4 13•��j(k ��Yy, h 14 Y � 3 - tni 1 Page 10 of 25 SALES COMPARISON APPROACH SUMMARY OF COMPARABLES Municipality Bldg,209 N Seacreast Blvd.,Boynton Beach,Florida(19-094017) ADW Property# 9602 9715 i 6335 7881 6438 6453 Property area Municipallity Few Art Glass Weiss Memorial N.M.S. Marine Scones Dixie Bldg Bldg Chapel Holdings Address 209 N Seacreast 440 SE 5th Ave 202 E Boynton 12 S Dixie Hwy 805 N Federal 516 N Dixie Blvd. Beach Blvd Hwy city Boynton Beach Delray Beach Boynton Beach Lake Worth Boynton Beach Lantana Sale: Sale Price N/A $2,450,000 $835,000 $645,000 $360,000 $429,000 Sale Status N/A Closed Closed Closed Closed Closed Marketing Period N/A 11 months 5 months 3 moryths Not available 2 months Date of Sale N/A Mar-1 9 Dec-18 Aug-18 Oct-17 Jun-17 Price/SF Bldg NIA $270 $278 $146 $200 $213 Site: Site Size Acres 0.29 0.65 0.30 0.13 0.12 0.13 Site Size SF 12,569 28,377 12,898 5,601 5,436 5,606 Floor Area Rato 0.65 0.32 0.23 0.80 0.33 0.36 Zoning C2 GC C3 DT C4 C1 Prkg Raflo/1,000 SF 1.90 2.31 5.67 3.36 2.23 2.48 ulldin Property Type Office Retail Retail-Office Office RetaikOffice, Office Building Size(SF) 6,961 9,090 3,000 4,460 1,796 2,018 Year Built 1961 1963 1952 1978 11954 1951 Condition Good Avg to Good Good Good Avg to Good Good Quality Avg to Good Avg to Good Avg to Good Avg to Good Average Avg to Good Stories TWO One One TWO One One Economics.- Occupancy 100% 100% 0% 50% 100% 100% Single/Multiple Multiple Single Single Multiple Single Multiple Occupant Tenants Buyer Future Tenant Buyer Buyer Buyer Page 11 of 25 ADJUSTMENTS TO COMPARABLES Municipality Bldg,209 N Seacreast Bl%d,,Boynton Beach,Florida(19-0940D) MEM FRIP-19PENEMEM MEEMMEMEM Sale Status NIA Closed Closed Closed Closed Closed Sale Date N/A Mar-19 Dec-18 Aug-18 Oct-17 Jun-17 Floor Area Rate 0.55 0.32 0.23 0.80 0.33 0.36 Parking Ratio 1.90 231 5.67 3.36 2.23 2.48 Building Size(SF) 6,961 9,090 3,000 4,460 1,796 2,018 Year Built 1961 1963 1952 1978 1954 1951 Condition Good Avg to Good Good Good Avg to Good Good Quality Avg to Good Avg to Good Avg to Good Avg to Good Average Avg to Good Stories TWO One One TV40 One One Unadjusted Price/SF Bldg NIA $270 $278 $145 i2-0O $213 Transact`analAdA. Market Conditions SIMILAR SIMILAR SIMILAR INFERIOR INFERIOR Adjustment 0% 0% 0% 10% 10% Adjusted Pd /SF $270 $278 $145 $220 $234 Emw-dy-ALY& Location SUPERIOR SIMILAR INFERIOR INFERIOR INFERIOR Adjustment -10% 0% 15% 10% 5% Parking Ratio SK41LAR SUPERIOR SUPERIOR SIMILAR SIMILAR Adjustment 0% -10% -5% 0% 0% FAR SUPERIOR SUPERIOR INFERIOR SUPERIOR SUPERIOR Adjustment -10% -10% 10% -10% -10% Building fto(SF) SIMILAR SMALLER SIMILAR SMALLER SMALLER Adjustment 0% -5% -10% -10% Year u! Condition SIMILAR SIMILAR �SHILAR INFERIOR SIMILAR Adjustment 0% 0% 0% 5% 0% Utility SUPERIOR SUPERIOR INFERIOR SIMILAR SUPERIOR Adjustment -5% -5% 10% 0% -5% Net Adjustment -25% -30% 30% -5% -20% Adjusted Price/SF NIA $202 $195 $188 $209 $187 Gross Adjustment NIA 25% 300/6 40% 45% 40% UNADJUSTED PRICES an Minimum $146 Range Ma)dmum $278 ADJUSTED PRICE STATISTICS Range Minimum $187 Range Ma)dmum $209 Standard DeOafion $10 as $196 Page 12 of 25 MAP OF COMPARABLES sa L*e Wor"'I Lake Wortb. R,1=6 Park- Corridor john sty 'Atlt�= ana i5 Y Aberdeen =fir T iLTYp4: Boo Sun veallev each an Ridge` Oce irrssy}c k. rtaa vel eels ` ). .,; GU `tnem"its r �y � � f Dut s R,,-j a High Point y OECD De.rak3eac t Page 13 of 25 COMPARABLE 1 h, 1� �t General Data Property Name: Fmr Art Glass Property Type: Retail, Retail Other Address: 440 SE 5th Ave, Delray Beach, Florida 33483 County: Palm Beach Parcel I : 12-43-46-21-01-002-0020 Legal Description: OSCEOLA PARKLTS 2 THRU 4(LESS E 5 FT US HWY 1 T 5(LESS E 5 F&RTNV US HVVY 1 RNV) BLK 2 fSite Data Site ize: 0.65 acres or 28,377 SF Floor Area Ratio(FAR): 0.32 Zoning: Parking Ratio: 2.3 spaces per 1,000 SF Site Remarks: Located on a corner along Federal Hwy just south of the CBD boundary for downtown Delray Beach uil in Data Use/Finish: Retail Size F: 9,090 Year Built: 1963 Condition: Avg to Good Quality: Avg to Good Stories/Floors: e Building arks: Extensively renovated in 2002. Financial Data_ --Occupancy at Sale: 100% Single/Multiple Single Occupant(s): Owner Page 14 of 25 Sale Data Sale Status: Closed Price: $2,450,000 Price/SF of Building: $269.53 Sale Date: March 2019 O.R. Book-Page: 30501-0695 Grantor: Shield Investment Group, Inc Grantee: 440 SE 5th Ave, LLC Property Rights: Fee simple Financing: 70% LTV via BUT Marketing Period: 11 months Listing Price at Sale: $2,700,000 Prior Transactions: None in previous three years Verification Source: Todd Wilson, Listing broker, via MLS, Jonathan Whitney, July 2019(19- 0940E) Sale Remarks: Believed to have been purchased by an owner user. Property consisted of a large open showroom and some office areas. Floor plan was a bit disjointed. Page 15 of 25 COMPARABLE 2 h � t } S 1AAY� ti} 1A �` en r � at PropertyWeiss Memorial Chapel Property Type: Retail, Retail Other Address: 202 E Boynton Beach Blvd, Boynton Beach, Florida 33435 County: Palm Beach Parcel ID: 08-43-45-28-03-003-0091 FsiteData Site Size: 0.30 acres or 12,898 SF Floor Area Ratio(FAR): 0.23 Zoning: C3 Parking Ratio: 5.7 spaces per 1,000 F AADT(Traffic Count): 33,915 Site arks: This is adjacent to the new Town Square Building t Use/Finish: Funeral Home Size : 3,000 YearBuilt: 1952 Condition: Good Quality: Avg to Good Class: C Stories/Floors: One Financial Data Occupancy at ale: % Single/Multiple Single Occupant(s): Owner Page 16 of 2 Sale Status: Closed Price: $835,000 Price/SF of Building: $278.33 Sale Date: December 2018 O.R. Book-Page: 30337/00731 Grantor: Gloria Weiss Realty LLC Grantee: 202 E Boynton Bch Blvd LLC Property Rights: Fee simple Financing: one recorded Marketing Period: 5 months Listing Price at Sale: $890,000 Prior Transactions: one in the prior three years Verification Source: Gloria Weiss, Rep of Seller, 561-483-9835, Zack Weygandt, February 2019 (19-0203) Sale Remarks: Seller was an owner user funeral home that vacated at sale. Seller believes her contract was flipped to the recorded buyer for an additional price above$835,000, but this could not be confirmed. Seller believed improvements were going to be used, but modified fora medical-related use. Was under contract for seven months.While zoned C3, property could be rezoned for mixed-uses per the CRA's recommendation of a land use of MU medium(40 units per acre), and a zoning district of MU- 2 or MU-3 for 40 to 50 units per acre and height of 75'. Highest and best use is interim use with the existing improvements until the property can be assembled and redevelopment. Page 17 of 25 COMPARABLE 3 t� g n IGeneral Data Property Name: N.M.S. Holdings, LLC Property Type: Office, Office Building Address: 12 S Dixie , Lake Worth, Florida 33460 County: Palm Beach Parcel : 38-43-44-21-15-017-0090 Legal Description: TOWN OF LAKE WORTHLOTS 10(LESS W23 L 17 ISite Data Site Size: 0.13 acres or 5,601 SF Floor Area Ratio(FAR): 0.80 Zoning: Parking Ratio: 3.4 spaces per 1,000 SF AADT(TrafficCount): 16,400 Site Remarks: Parking located in the rear of the building uil i t Use/Finish: Office Size F: 4,460 YearBuilt: 197 Condition: Good Quality: Avg to Good Class: Stories/Floors: TWO Building Remarks: Two-story office bldg built-out for multiple tenants Iinanci I Data Occupancy at le: 50% Single/Multiple Multiple Occupant(s): Buyer Page 18 of 25 ...Sale Data Sale Status: Closed Price: $645,000 Price/SF of Building: $144.62 Sale Date: August 2018 O.R. Book-Page: 30122-01293 Grantor: HH 12 South Dixie, LLC Grantee: NMS Holdings, LLC Property Rights: Fee simple Financing: N/A Marketing Period: 3 months Listing Price at Sale: $750,000 Prior Transactions: Sold in October 2015 for$565,000 Verification Source: Todd Everett, listing broker, on-site,Andrew Sperling, June 2018(18- 0834) Sale Remarks: 2 tenants were located on the first floor at time of purchase on month-to- month arrangements while the second floor was vacant. Buyer intends to occupy a portion of the space and lease out the remainder to tenants. A Building Analysis Report indicated the roof, electrical system, HVAC, and apparent water intrusion need immediate replacement or modification.A price amount for these renovations was not listed in the report, however the buyer estimated the price to repair these issues is $50,000,which resulted in a lower purchase price as shown. Page 19 of 25 COMPARABLE 4 SW 3= � t General Data Property Name: Marine Scenes Property Type: Retail, Retail Other Address: 805 N Federal Hwy, Boynton Beach, Florida 33435 County: Palm Beach Parcel ID: 08-4345-21-32-001-017 Legal Description: LAKE ADD TO BOYNTONLT 17(LESS ELY17 FT N FED HWY RNV) BILK 1 &20 FT ABND PT OF ALLEYLY JT Site Data Site iz : 0.12 acres or 5,436 SF Floor Area Ratio(FAR): 0.33 Zoning: C4 Parking Ratio: 2.2 spaces per 1,000 SF AADT(Traffic Count): 22,067 Site a rs: Property is located north of downtown Boynton Beach uii in ata Use/Finish: Retail Size 1,796 YearBuilt: 1954 Condition: Avg to Good Quality: Average Class: C Stories/Floors: One Building Remarks: The size shown includes a 340-SF storage garage. inanci I Data Occupancy at ale: 100% Single/Multiple Single Occupant(s): Buyer Page 20 of 25 Sale Data Sale Status: Closed Price: $360,000 Price/SF of Building: $200.45 Sale Date: October 2017 O.R. Book-Page: 29442-0969 Grantor: Miami Aqua Culture, Inc. Grantee: Seaquatic Holdings, LLC Property Rights: Fee simple Financing: $288,000(80% LTV) by Bank of America Marketing Period: Not available Listing Price at Sale: $395,000 Prior Transactions: None in prior three years Verification Source: Confidential rep of seller, Sarah Brand,August 2017(17-0897) Sale Remarks: Buyer planned to occupy the property. Page 21 of 25 77 COMPARABLE 5 t i s 21 t ��a General Data Property Name: Dixie Bldg Property Type: Office, Office Address: 516 N Dixie Hwy, Lantana, Florida 33462 County: Palm Beach Parcel ID: 40-43-44-34-07-003-0010 Legal Description: LAKEVIEW MANORS LTS 1 &2 BLK 3 Site Data Site Size: 0.13 acres or 5,606 SF Floor Area Ratio(FAR): 0.36 Zoning: C1 Parking Ratio: 2.5 spaces per 1,000 SF AADT(Traffic Count): 20,549 Site Remarks: Fenced-in storage yard IBuilding Data Use/Finish: Office Size SF: 2,018 Year Built: 1951 Condition: Good Quality: Avg to Good Class: C Stories/Floors: One Building Remarks: Building was divided into two bays and was updated in recent years. Financial Data Occupancy at Sale: 100% Single/Multiple Multiple Occupant(s): Buyer Page 22 of 25 [Sale Data .... _ _ Sale Status: Closed Price: $429,000 Price/SF of Building: $212.59 Sale Date: June 2017 O.R. Book-Page: 29209-172 Grantor: Dixie Management, LLC Grantee: Cerruti Holdings, LLC Property Rights: Fee simple Financing: 51% LTV via private lender Marketing Period: 2 months Listing Price at Sale: $439,000 Prior Transactions: Sold for$250,000 in May 2016 and$180,000 in December 2015 Verification Source: Daniela Amoroso, listing agent,via MLS, 954-461-4002, Sarah Brand, August 2017(17-0968) Sale Remarks: Buyer planned to occupy the property for office use. APPRAISER QUALIFICATIONS AND LICENSE Page 23 of 25 JONATHAN e WHITNEY,MAI Aucamp, Dellenback&Whitney 1900 NW Corporate Blvd, Suite 215E Boca aton, FL 33431 'on advrr-appraisers.com 561-609-2534 Professional Experience Aucamp, Dellenback&Whitney,2003-Present(16 years) ' Real Estate Appraisers&Consultants ® Principal, 2015-Present • Commercial Real Estate Appraiser, 2003-Present Jonathan Whitney is known for his extensive knowledge of the South Florida commercial real estate market. He heads h team of seven commercial l real estafe aor rais rs for independent Aucamp, Dellenback Whitney(ADW), and values all major real property es: industrial, office, tail, and multifamily.Valuation assignments also include vacant development sites, residential subdivisions 1 condominiums, mixed-use buildings, andspecial-purpose roperties. His partner, David Aucamp, , heads the residential side of their firm with a separate team of seven residential appraisers. ADVVs service area includes the tri-county South Florida region (Miami-Dade ount , Broward County, and Palm each County). Clients mostly include lenders, but also include investors, property owners, developers, brokers, attorneys,CPAs,associations, municipalities, and CRAs. Real estate appraisal and consulting assignments involve estimating market valeand-or market rent, and providing expert witness testimony. luation assignments range between relatively straight rd assignments to multiple-phased projects with complex cash flow considerations. Notable recent assignments include: Lion a a i, Lo a atc ee (650-acre tourist destination) Okeechobee Business District, West Palm Beach(10-acre urban district proposed by City) Prospect l c , West Palm Beach(proposed 9.32-acre mixed-use proposed by Time Equities) 0 888 Brickell Ave, Miami(proposed 200,000-SF urban office tower by e er ane) 1 Worth Ave, Palm Beach(150,000-SF"hi-street"retail, anchored by Saks&Neiman) 0 New River act Club 11, Ft Lauderdale(proposed 349-unit multifamily tower by Related Croup) ® Gulfstream Point, Hallandale(proposed 297-unit multifamily tower by Florida East CoastRealty) Atlantic Crossing, Defray Beach ($300 million urban mixed-use project by Edwards& CDS Intl) North40, Boca Raton(350,000-SF suburban office buildings held by Mainstreet Capital) 0 TT Portfolio, Broward County(retail and industrial holdings totaling 430,000 F) 0 DH Portfolio, Palm Beach County(office and industrial holdings totaling 520,000 SF) Education Master of Arts in Business, University of Florida, 2000 Bachelor of Science in Economics, University of Florida, 1999 Numerous duc tion Courses,Appraisal Institute, 2003-Present(partial list on following page) Activities and Affiliations Florida State-certified General Real Estate Appraiser, RZ 2943, 200 -Present Florida State-registered Trainee Appraiser, R1 11475, 2003-2006 Page 24 of 25 Appraisal Institute,2003-present • Board of Directors, out Florida Chapter, 201 -2020 • Designated Member(MAI), 2013-Present • Associate a er,200 -2013 Zoning Board of Adjustment, City of Boca Raton, 2013-2018 • Vice Chair,2017-2018 • Member,2013-201 NAIOP south Florida Chapter, Member, 201 —Present Urban Land Institute(ULI) Associate Member,2019—Present Commercial Real Estate Development Association( I ) Member, 2019-Present Boca ton Federation of Homeowners (parent ass i tion forBoca), 201 -Present Executive Board Member, 201 -Present Boca RatonChamber of Commerce r(A , 1990s-Present Leadership oca, Class of 2016 National Association of DivorceProfessionals(NADP) Member, 2017-Present Boca Raton Downtown RotaryClub Member, 201 -Present Mayor's Ball Committee Member, 2016-Present Community Captain, Boca Raton Bowl, 2016-Present Mentor, Eda&Cliff Vier Community Scholars Foundation,201 -Present Spanish River Church,2011 -Present • Elder, Spanish River Church, 2017—Present • Member/Various Leadership oles, 2011 —Present ........ c� Sr {a. STATE OF FLORIDA DEPARTMENT OF OUSINr DorE NAL RE UATION THECER'OsW41 _ S44�di SS 'R'� dECs 4�PiCtE62�.t9 W!41TNEY,JONATHAN DOUGLAS { 3MfA.0 82ND 003MITWOATL WONVAUR Sa 7024 !i 0,, .+, 2tA"mo..atk'.ofz .WaMu MaSrn, .At2}5r5r[C.i!,3 t:*ts.E..s^f$:S fS.wlM1rknv. Page 25 of 25 UNITED STATES Exercise of Renewal Option lags T c SEIMaC : Facility Name/Location: BOYNTON BEACH-DOWNTOWN STATION (110960-001) 217 N SEACREST BLVD, BOYNTON BEACH, FL 33435-9998 County Palm Beach Lease: H00000100547 To BOYNTON BOUNDLESS PO LLC Certified Mail# 10 SE 1ST AVE STE C 70142120000252080910 DELRAY BEACH,FL 33444-3693 Issuing Office 1300 EVANS AVENUE, SUITE 200 SAN FRANCISCO, CA 94188-8200 Date of Existing Lease: 06/25/2002 The existing Lease was amended by: Amendment No. 001 accepted by the USPS on 01/31/2013 Pursuant to the Lease covering this facility,the Postal Service hereby exercises its option to renew said Lease as follows: Term: 5 Years From (Date):02/01/2018 To(Date):01/31/2023 Annual Rate: $74,929.00 In all other respects,the said Lease shall remain the same and is hereby confirmed. Remarks Thank you for providing this space to the Postal Service. Date Name of Contradjnq6'Fcer Signature 05/27/2016 Laureen Yarakido Renewalopt 01/2005 56--I -cskfiv S Exercise o Renewal tion �� :s�l� r Option Facility Na &ocaWn: BOYNTON BEACH-DOWNTOWN STATION (110W-001) 217 N SEACREST BLVD, BOYNTON BEACH, FL 33435-9998 County Palm Beach Leas¢: 1-10000010054 7 To BOYNTON BOUNDLE=SS PO LLC ertifled Mail 10 SE 1ST AVE SrE C DELRAY BELCH.FL 33444-369:1 7005182000794197938 Issuing Office F GRIFFIN ROAD NORTH WINDSOR,CT 06006-0300 Date of Existing Lease: 06;2512002 The existing Lease was amended by. Amendment No. 001 accepted by the USPS on 01/3112013 Pur l.lant to the Lease covering this facility, the Postal Service hereby exercises its option to renew said Lease as follows: Terra: b Years From (Date):02101/2013 To(Date):01131/2018 Annual Rate. $70,36C.OG !n all other respects, the said Lease shall remain the same and is hereby confirmed Remarks Name or Oifiner Sgnalr3fe �' i 11iGQ!2? -2 Michael Laverdiere r a Renes 01/30/2013 16;0.2 5512726831 RTPB 9 WEINER PAGE' 02/0-5 1"3 1T1=`D STAB . posyit 57FI?ViC, Lease Amendment Feaeaty?*r0ejloCA'W DOWNTOWN STATION(1109 M01) Amendment No 001 217 N SEACREST SI VO, BOYNTON BEACH, FL33435-9998 Lease:1-100000100547 This refers to the Lease accepted by the United States Postal Service,he(elneffer called the Postal Service, under date nt O 5)2002 ,whereby there is Imed to the PostalService tho above-described facility. WHE=REAS; the Posta Service desires and Landlord is willing to amend the Lease as specified below, NOW THEREFORE.to consideration of the mutual Covenants and agreements heroin set forth, and for other good and vNuabld cons iderafildr.,the sufficiency of whiCh is hereby acknowledged,the parties do hereby agree as folloous, effective, on the date;his document is executed by the Postal Service, With the signing of ftLease Amendment,the Landlord accepts We Postal Service exerbse of the first Renewal Option In all other respects, the Lease sheil remain the same and is hereby confirmed, FaLnra'y 2004 01/30/2013 !G:32 561272b631 RTF!18 Z WETHER PAGE 0.3/05 _ r UNITEDST", 5 Least? Amendment - 1'C)SM.f.SERVE: EXECUTED BY LAN[%1_i7RD this" sly day of �q'n lt0.r t del , CORPORATION THE VALLEY LANCE CORPORATION 3a cuaacutrng This l•aa�AnxnLnlCYrl.Lantlltxd�ttifiaa ttiai i.esgdlord Is ntlt a USP5+;m97bylte�°gXtPrael errlp±oyee{or an immttrl�a!A f'rn,ly mamba! of e1w)-or a buslnrss W7.4niraudn eub6territtally owned or controlled by a LISPS emptayee or wnt m:I ernptayee(or an Immediate family member of 8?her} Name&Title V W41(M GILMAN.I'PESIDENT Nam 3 �OLIVE F GILMAN.TREA5URER Nain,%&Tltto Name d Tale Ndrnn A Titic Name_Z Title I.Andi-rd.Narrr. RO`dN`OW BOU1,0LESS Pry LLC e-metl rnwad:*a ronetaw.c i ,end rddreas 01--i-RAY BEACH.FL Z4i»y, J3add•2G3d Landlord,T9itrhone rnumlutr(s)l (561)zss-2f;66 PAX: �• ['Z�2'�o d 4--- SoaNl Security t+ka or t+ o5vuI Taic Idenlif"ton Na xx=y,2"1 �1 e'-Z"n' ,] Whervu ttic m!Io"d 4 a corf}or4lo#%laagas and leave wrie wm8ri%antered Into must have the C6rgA7rdta Seal afrrxad ar an pwA irerreof Inn slalamont that Ina or uvaW has no sea: 0 vvt,ere the Landlord h a OM"iOn.AvoliG10.el OXWO110n.Ma.Drofft. aMA,M fraternal onder of toeLbiy,tht Lita9®Amendment mull be ar r.ied by documentary ' G-o affimllnp IM a ty of fiuy,gaant,or cage nts,tg ericcute Oe lease Ams r omr ,M to grind Itl cvrpW- Gn, munfclpal corporation.n6r ptofii organw,00,of Internal orde b?Wiety for wNch h®(or shay)pirr:oils to act. The usual erooan p r-.1,irev t e-,tablish stwh puthorltl Is In the form of extracts from Ow artI ,Of In ration,or bylaws.or N minutes of the board v4 directors dully rem ON-IM N the r;usfcod.3e,of weal r es" ,ter the ec porala cwt. Sixh%ratvSiw�s,ti rn t rw�� s U:+Hoyt Gw+lafai low ss r,+rr..slr v;a l a sr4 Gd n'9;n tt :,nae&t rnenUnrGril, Tre nr,srntts ant;t M6,11 f119ps of the offlmrs wha nm aushenrl:vd to won thio l.aa unP s n76tnl tnsrsl--appear m the dovimertt c Any nobto Land+wet ptowded under rNs L Am nl ce under sny(aww repuIsUon rrwst be In wdUng arxl submRted to t.anoford at the address.tpodftd above,or at an r dcv!*that Landlord has olharMaB a directed Mr writing My noce to the Po;lal SoMce pro vr.6er this Leap,Amemd t ry uM&r any few Yor tequl must N In wrtift and su®m fa"COMMOIrvy 0fricor U 5 Pastel Sersi o`at the iddrftx w fled below,oral an nddm&c ihat the Putti ywviyo tsps olherwl &reeled In writing, ACCEPTANC' !•THE PQST"AI.SERVICE Date Mki :aei ldaw:rdieie 'f ar a t t 5 Cerr�tr�;..tn9 C�'tk.ef rxrytrJrc Gf,.orttr;atts`�x" Prrc�r .._ Northeast FSO 6 GRIFFIN'I AD NQRT WINDSOR.CT 6:8UN-MOD hddrw.ss 4t Ctntracl.ny C7irtrrde -- cig..nWe Par ICcsr 21.na WAU "l. Holum lo!lontlose seal-nddressad slnmpad envOopa) 1111111NBill M1011111111 07/16/2002 08:21:27 20020361291 OR BH 13916 PG 0979 Palo Reach loun$y, Florida t!lV1TEdSTt1"ES rocsal ICC Lease Fedllsyhkmariacs:�t DDYWON 13EACH - DOIMMOWN STATION 1110960ro01) PALM BEACH COUNTY 717 N SEACREST BLVD BOYNTON BEACH, FI, 33435,4011 Project; H09364 This LEASE,made and entered Into by and between THE VALLEY LAND CORP hereinafter called the Lessor;and the United Stales Postal Service,herelnallercalled the Postal Service; In considaralign of the mutual promises set forth and:lor other good and valuable consideration,the sufficiency of which is hereby acknpwlodged,the parties covenant and agree-as follows: 1. The i,ossor hereby losses to the Postal Service and-the Postel Ssrvlce lessan from the Lessor the lolrcwlng premises,herelpaller legally dascrlbad in paragraph 9,In oceordance with the farms and conditions described horoln and contained IO the'Gonoral Condlllons to U,S.Postai Survrlce Lease.`Section R,attached haroto and made a part hersol. Upon which Is a one-:tory masonry building and which proparty contains areas,spaces,Improvements, and appurtenances aft follows: AREA $Q.FEET AREA Sia.FEET Not Floor Space 7,20-9 Joint UeefCommon Areas: Platform 61s Parking and Maneuvering 29,G06 Other. Driveway Landscaping 684 Sidewalks. 1,203 Tote)Silo Area; 30M 39,393 P. RENTAL: The Poptal Service will pay the Lessor an annual rental of l s 63,33 0.00 • Fiaty-Three Thousand Three Hundred Thirty and:00/100 Dollars-' payabfe In equal Insittlt ents at the end of each calendar month. Rent for a part of a month will be prorated. Rent checks shall be dlaborsed as follows: payable lo: THE VALLEY f.ANO CORD 220 HOLT/ fait STE.27 WHITE 91y9pSCT VT 05001-2015 unless IfIq pprilroalIng PIllcor Is notified,In writing by Lessor.of any change In payee or address at least sixty(60)days Warp SIM effective lute of Iho change. a. TO HAVE AND TQ HQW the said pramlees wJlh their appurtonanees: FIXED TERM; The term beginning Fob 01, 2003 and ending Jan 31, 2013 for a total of 10 years. .IMTED,"a7"J.LTES BuOK 13316 RAGE' tl9S0 sr svc !.ease 4. RENEWALOPTIONS: The Lease may be renew ed at the option of th7and or the following separate and consecutive terms and at the following RHNLW].L EFFECTIVE EXPXMATZON PER ANNUM OPTION DATE DATE REATAL 1 2/1/2013 1/31/2018 $70,360.00 2 2/1/2016 1/31/2023 $74,924.00 provided that notice is sent, in writing, to the Lessor at lee end of the original lease term and each renewal term. All ot conditions of this Lease will remain the same during any renewal term unless stated otherwise herein. S. TERMINATION: This Lease may not be tezmi.nated during the .Fixed term, except fom cause Dursuant to the general conditions or any riders or addendurais or other attachments made part of this lease. After the fixed term, this Lease may be terminated, parsuank to this paragraph by the Postal Service upon 60 daye Written notice to the Lastor. S. UTiL)TIES,SEFMCES,AND EQUIPMENT:Lessor,as part of the renlsf conslderallon,shall furnish the following "'fides,S9r4+MS and squipmenk des r asssar Qb1foulloras of(3nrwM10ol1Mtons(A 94)nnd1n' for d*ldnitsrmj.) Heating System, Air Conditioning Equipment, Light Fixturas, Sewerage System, 1 Elect:ziral System, Water system. 7. OTHER PROVISIONS:The following addlllonal provfslons,mcdlllcatfons;riders,layouts andlor forms were agreed upon prior to exerautian and made a pact hereof. naintenance Rider - USPS' 1151-1), Reimbursement Tac Rider/9e (T-1), USPS to pay recurring separately metered utility charges. Lessor to have leasB recorded at no expense to USPS. Mortgagee's Agreement and Designation of Emergency Repair Personnel are attached and made a part of :his contract. S. The undersigned has completed the'Representallons and Certlf(caflons;(See Section B). 9. LEGAL DESCRIPTION: Lents 9, 10, 11, 12, 13, 14, 15. 26, excepting Chat portion being talaen for street 91ideningn and bots 17, 1B, 19, 20, 21, and the northerly 113 feet of Lot 22, ertapting that part taken for street widenings of Block. 4, Boynton Heights Subdivisions, according to Che Plat thereof on File in the office of the Clerk of the Circuit in and .or Palm Seaeh County, Florida, recorded in Plat Bonk 10, page 44, situated in FLORIDA BOYNTDM BEACH, PA1.ti1 BEACH COUNTY, i AE, NZ2,Juno 10139I 2 i P0ST21L SERVICE- EXECUTED BY LESSOR this -Rq'Lday of CORPORATION I HE I/ALLEY LAND CORPORATIO14(a Vermont Corporation) Affix Corporate Seal FRANK 19 GILL:W, PRZSI.DEt€r Print Narnz&Tftle SighaFura OLIVE F. GILIIAN, TREASURER r . PtoI Name&Tftfe Signature Print Name&Thla Signature Prinl Name&Title Signature Print Nema&Title Signature Print Name&TlOa Signature 'rint Name&Tide Signawre Print Name&Tide Signature Lessor,Address: THE VALLEY LAND CORP 220 HOLIDAY DR STE 27 ITHITE RIVER JCT VT 05001-2015 Telephone No: (802)295-3358 axpayerID: 03-000'35 ACCEPTANCE BY THE POSTAL SERVICE Date: Oa JODY SLOAN CDnlracilng Officer Signature a C MclIng. Cer ATLANTA FSO QL 4000 DEKALH TECH PKWY 300 ATLANTA GA 30340-2799 Address of Contracting Officer i _FUSE (v2.2•June 1999) 3 i i UIVITEDSTATES Form of Acknowledgment 1�t7 T JI-SER.VICE. for Corporations STATE of r lV COUNTY OF , Pers ally appeared before me,a Notary Public in and for the County and Slate aforesaid, • ,,,_...^, and (Name of authorized offfcer(s)signing lease) who Is/are known to me to be the !_ and lit stu-t r (Titles of ollicer(s)signing lease) of the 1 and (Name of Corpora �,n) to be the same person(s)who executed the foregoing lease,who depose(s)and say that said person(s)know(s)the seal of the said corporation,that the seal affixed to the above instrument is the seal of said corporation,and that it was affixed, and that said person(s)signed this lease by the authority of the said corporation,for the purposes set forth, and as said person(s)own free and voluntary act. jone at in the County and State aforesaid, this day of NOTARIAL SEAL r [' lary Public Y commission expires NOTE: If the corporatlon Is without a seal,that portion of the acknowledgment referring to a seal should be stricken out,and on the blanit line following this statement should be made:*and that the said corporation has no corporate seal.' i C (Nov 97,v2.0.P) ' - i ) 1 U.S. POSTAL SERVICE Facilities Department Form of Acknowledgment for Contracting Officer UNDW STATE OF GEORGIA COUNTY OF DEKALB Personally appeared before me, a Notary Public in and for the County/Parish and State aforesaid, JODY B. SLOAN known to be the Contracting Officer Facilities Service Office, USPS B,Idg 300- Suite 300 4000 DeKalb Technology Parkway Atlanta GA 30340-2799 and to be the same person who executed the foregoing document, who deposes and says that he signed his name thereto, by authority of said Postal Service, for the purposes set forth, and as his own free and voluntary act. Witness my hand and notarial seal, in the County/Parish and State aforesaid, this, r _day of -UA-d- , 2002. NOTARIAL SEAL A n Y<All—6�m Suzanne Willi ms Bistline Notary Public My commission expires June 4, 2004. i t July 1991 1 UNITEDs' rrs General Conditions to ASP'S Lease 1 Fc STAL SERVICE- r SECTION A law or regulalion must be In writing and may be hand delivaied nr mailed, addressed to "Contracting Officer, U.S. Postal Service"at the address A.1 CHOICE OP LAW specified on page 3 of the Lease, or at an address that the Postal Service has otherwise directed In wriling. This Lease shall be governed by federal law. A.4 MORTGAGEE'S AGREEMENT A.2 DEFINITIONS if there is now or will be a mortgage on the property which Is or will be As used in this contract, the following terms have the following recorded prior to the recording of the Lease, the offeror must notify the meanings: contracting officer of the facts concerning such mortgage and,unless In his sole discretion the contracting officer waives the requirement, the a. 'Contracting officer" means the person executing Ws contract aro offeror must furnish a Mortgagee's Agreement,which will consent to this behalf of the Postal Service,and any outer employee who Is a ploperly Lease and shelf provide that, in the event of lareclosura, mortgagee, authorized contracting officer; the term Includes, except as otherwise successors,and assigns shall cause such foreclosures to be subject to provided in the contract„the authorized representative of a contracting the Leas, officer acting wllhin the limits of the authority conferred upon that person. b. "Successluf offeror,''olleror,'`owner", "contractor,"at'Lessor"are A.5 EQUAL OPPORTUNITY Inlerchongnable and refer to the party whose proposal Is accepted by the a. The contractor may not discriminate against employees or applicants Postal Servlce. because of race,color,religion,sex,or national origin. The contractor c. 'Laase" and "agmearaent' are inletchangeablo and refer to Chits will take affirmative action to ensure that applicants are employed,and document,including all riders and attachments lhereto. that employees are treated during employment,without regard to race, calor,religion,sex,or national origin, This action must include,but not A.3 EXECUTION REQUIREMENTS be limited to,employment,upgrading,damollon,or transler, recruitment or recruitment advertising; layoff or termination; rales of pay or other a. All co-owners and all other persons having or to have a legal Interest harms of compensation; and selection for training, including In the property must execute the Lease. if the offeror Is married, the apprenticeship. The contractor agrees to post in conspicuous places, husband or wife of the offeror must also execute the Lease. The offaror avaltable to employees and applicants, notices provided by the most submit adequate evidence of 1111e. contracting officer setting forth the provisions of this clause. b. lithe olleror is a general partnership,each member must sign. b, The contractor must. In all solicitations or advarilsemenls for employees placed by It or on Its behalf,state that all qualified applicants c. If the offeror is a limited partnership,all general partners must sign. will be considered for employment without regard to rare,calor,religion, sex'or national origin, where the offeror Is an administrator or an executor of an estate, ire must be rumished a carlilicate of the clerk of the court or ceriJfred c. The contractor must sand to each union or tvorkars'tepresentaiive -ipy al the court order showing the appointment of the odinfnlstrafor or with which the contractor Itas a collective bargaining agreement or ether executor.together with a cmrtiflad copy of the will of the deceased, If understanding,a notice,provided by the conlracting officer,advising the there is nes 'will, of In the event the will of the deceased does not union or workers'representtailve of the contractor's commitments under specifically authorize the administrator or the executor to enter Into a this clause, and must post copies of the nollea In conspicuous places contract to lease iho proposed quarters,It will generally be necessary to available to employees and applicants. furnish, in addillon to the shrive named Items, a certified copy at the court order aulhoilzing such administrator or executor to enter Into a d, The Contractor must comply with all provlsfons of Executive Order lease with the Postal Service. (EO) 11246 of September 24, 1965, as amended, and of the rules, regulations„and relevant orders of the Secretary of Labor. e. Where the offeror Is a trustee. a certified copy of the instrument a Tile romCtactrr must furnish all Information and reports required b creating the trust must be fumished together with any other evidence p eq y necessary to establish the Iruslee's authority to tease. the Executive order, end by the rules, regulations, and orders of the Secretary,and must permit access to the contractor's books, recotds, 1. Where the offeror Is a corporation, leases and lease agreements and accounts by the Postal Service and the Secrelary for purposes of entered Into must have the corporate seal affixed or in place thereof the Invesitgalton to ascertain compliance w0h U1ese rules, lagulat&ons,and statement that the corporation has no seal. orders. g. Where the offeror Is a corporation, municipal corporation, fraternal L 11 Cho contractor falls to comply vfilh this clause or with any of Ilia order or society, the Lease must be accompanled by documentary said rules, regulations, fir orders, Ihls contract may be canceled, evidence allfrming the authority of the agent,or agents, to execute the terminated, or suspended', in whole or in part, Ito, contracloi may be Lease to bind the municipal corporation, fraternal order or society for d'aclared Ineligible for further contracts fi't acoordatnce with the Executive which he (or they) purports to act. The usual evidence required to order;and other sanctions may be Imposed and remedles Invoked under establish such authority Is in the form of extracts from the articles of the FrXecutiva order,or by title,regulation, or order Of the Secretary,at incorporation, or bylaws, or the minutes of the board of dlraclars duly as othatvrlss provided by lave, certified by the custodian of such records, under the corporate seal. Such resolutions,when required,must contain the essential stipulations g'• The contractor must insert this Clause,Including this patag}raph g,In embodied in the Lease. The names and ofifctal titles of the ol0cers who ail subconiracts or purchase orders undar this cantraci unless exempted are outhorized to sign the Lease must appear In the document. by Secretary of Labor rules, regulations, or orders issued under the Executive order. The contractor muni talie such actlan with respect to h. Notices. Any notice to Lessor provided under this Lease or under any such subcontract or purchase order as the Postal Service may direct any law or regulation must be in writing and may be hand delivered or as a means of enforcing the terms and candlflons of this clause mailed to Lessor at the address specified on page 3 of the Lease, or at (Including sanctions lot noncompliance), provided, hn,vever, ilial if the an address that Lessor has otherwise appropriately directed in writing, contractor becomes Involved in, or is Ihreaienad with, Iltlrgafion as a Any notice to the Postal Service provided under this Lease or under any S (v2.2,June 1999) A-1 - I I' UIVt3'EDSTATES General Conditions to USPS Lease result, the contractor may request the Postal Service to enter into the written notice of the assignment or reassignment, logelher with.a true litigation to protect the interests of The Postal Service. copy of the instrument of assignment,is filed with: h. Disputes under this clause will be governed by the procedures in 41 1.The contracting officer, CFR 66-1.1. 2.The surety or surelles upon any bond;and A.6 FACILITIES NONDISCRIM)NA7110N 3. The office, It any, designated to make payment, and the contracting officer has acknowledged the assignment in writing. a. As used In title clause, the term 'tacitly means stores, shops, resiauranls, cafeterias, restrooms, and any other facility of a public b. Assignment of this contract or any Interest In this contract other than nature in the building In which the space covered by Ihls Lease Is In accordance with the provisions of this clause will be grounds for located, termination of the contract Icer dolaull at the option of the Posted Service. b. The Lessor agrees that he will not discriminale by segregation or c. Nothing conle)ned herein shall be construed so as to prohibit transfer elhenvisa against any person or persons because or race,religion,color, of ownership of the demised premises,provided that:1.such transfer is age,scat or national origin in furnishing,or by refusing to lumish,to such subject to this agreement; and 2. both the original lessor and the person or parsons the use of any facility Including any and all services, successor lessor execute the standard Lease Assignment and privileges,acoornmodatlans,and aclivlsies provided thereby. Assumption form to be provided by the USPS Contracting Officer. c, Ii Is agreed that the Lessor's noncompilance with the provisions of A.10 COMPLIANCE WITH OSHA STANDARDS this clause shall constitute a malarlal broach of this Leese. In tsa event of such noncompliance,the Postal Service may take appropriate action The Lessor must (1) comply with applicable Occupational Safety and to enforce compliance, may terminate this tense,or may pursue such Health Standards, 011e 29 Code of Federal Regulations, Part 1910, other remadias as may be provided by law. In the avant of termination, promulgated pursuant to the authority of the Occupational Safely and the Lessor shall be liable for all excel,casts of the Postal ervlce In Health Act or 1970; (li)comply with any other applicable federal,slate, acquiring substitute space,Including but not limited to the cost of moving or local regulation governing workplace safety to the extent they are not to such space. In conflict with(1);and(II)take all other proper precautions to protect the health and safety of (a) any laborer or mechanic employed by the if. The Lessor agrees to include, or to require the Inclusion of the Lessor In performance of this agreement, (b)Postal Service employees, foregoing provisions of this clause(will'ti's terms`Lissa#'and"Leaso" and (c) the public, The Lessor must Include this clause In all appropriately modtiled) In every agreement or concesslon pursuant to subcontracts hereunder and to require its Inclusion in all subcontracts of which any person other than the Lessor operates or has the right to a lower Ifer, The tern'`Lessor"as used In this clause in any subcontract opereie any faclfity. Thr,Lessor also ogress that II will take sucb'rlclion must be deemed Io refer to the subcontractor. res pact to any such agreement as the Postal Service may direct as I ins of enforcing this clause,Including but not limited to termination A.11 EXAMINATION OF RECORDS re agreement or concession. a. The Postal Service and Its authorized representatives will,until three A7 RESERVED years after Mal payment under this contract, or for any shorter period specified for particular records,have access to and the right to ermine any directly pertinent boalss,docu mranls,papers,or other records of the A.S CONTINGENT FEES contractor Involving transactions related to this contract. a. The contractor warrants that no person or selling agency has been b. The contractor agrees to include In all subcontracts under this employed or retained to saiioii or obtain this contract for a commission, contract a provision to the effect that the Postal Service and its percentage,brokerage,or contingent tea,excapl bona title employees or authorized reprnsentattvas will, until three years after final payment bona fide,established commercial or selling agencies employed by ft under the subcontract,of for any shorlor specified period for particular contractor lot the purpose of oblalning business, records,have access to and the right to examine any directly pertinent b. For breach or violation of this warranty, the Postal Service has the books, documents, papers, or other records of the subcontractor right to annul this contract wllhoul liability or to deduct from the contract Involving transactions related to the subcontract. The terra"subconlract• Price or otherwise raeovar' the full amount of the commission, as used In this clause excludes: percentage,brokerage fee,or contingent lee. 1. Purchase orders-,and c_ Licensed real estate agents or brokers having listings on property for 2. Subcontracts for public utility services at rates established for renl, in accordance with general business practice, and who have not unllorm applicablllty to the general public. obtained such licenses for the sole purpose of effecting[his lease,may be considered as bona ride employees or agencies within the exceplion contained in this clause. A.12 YEAR 2060 WARRANTY(REAL PROPERTY CONTRACTS) The contractor warrants that all building systems required under this ' A.9 ASSIGNMENT OF CLAIMS contract (Including, but not limited to, HVAC, elactrtcal, tighling, alavalor, or security/Warm systems) which contain or are managed, a. If this contract provides for payments aggregating$10,O1)d or more, governed, or regulated In any nlanner• by dale-senslllve computer claims for moneys due or to become due from the Postal Service under hardware or sallware will sutler no lalturo,Irregufailly,or Interruption of II may be assigned to a bank, trust company, or other financing servlce based on failure accurately to process dale data from,Into,and Institution,including any federal lending agency, and may Iherealler be between the twentieth and hvenly-first centur€es, including recognizing furtherrassigned and reassigned to any such institution, Any assignment the year 29110 as a leap year. For breach of this warrunly, the Postai or reassignment must cover all amounts payable and must not be made Service may rerfu ra the contractor to rapair or replace these portions of lc more than one party,except that assignment or reassignment may be any bullding system not performl ng as slated above. made to one party as agent or trustee for Not or more parties fparticipating In financing this contract. No assignment or reassignment The Postal Service may anfoma this clause prior to January l,'2000,if will be recognized as valid and binding upon the Postal Sery€ce Unless a testing of any system before,that date results In a faltura,irregularity,or i (v2.2,June 1999) A-2 fJNt •ED STATES General Conditions to USPS (Lease f�05'T�iL SERVICt inlenuplion of service as described above. Accordingly, systems must 2. The dale payment otherwise would be due, it that date is later, permit user-ptogrammed dale changes sulficlent to Simulate lime until the date of payment. pariods beginning wiUa any future date, irtcludmtp without limitation I Simple interest on claims will be aid at a rale determined in December 31 1099.Nothing in this warranty may be construed to limit P P any riglsls or remedies the Postal Service may olhenvise have under Ilais accordance with the Interest clause, contract with regard to Year 2000 compliance or any olhar defects or I. The ctantroctor must proceed dfililwilly with performance of this failures. contract,pending final resoitillon of any request for relief,claim,appeal, or action arising under the contract,and comply with any dectsfort of the contracting officer. A.13 CLAIMS AND DISPUTES a. This contract IS subject to the Contract Disputes Act of 1976 (41 A.14 AFFIRMATIVE ACTION FOR HANDICAPPED WORKERS U.S.C,bol-613)("the Act"). The following clause Is applicable If this contract provides for payments b. Except as provided In the Act,all disputes arising under or relaling to aggregating 52,500 or more. this contract must be resolved under this clause. a. The contractor may not discriminate against any employee or c "Claim"as used In this clause,means a written demand or written applicant because of physical or mental handicap, In. regard to any assetifon by one of the contracting parties seeldng,as a matter of right, position for which the employee or applicant is qualllled.The contractor the payment of money In a sum certain the adjustment or Interpretation agrees to take affirmative action to employ,advance in employment,and at contract terms or other relief arising under or relating to this conlr=L otherwise treat qualified handicapped individuals without discrimination In Hovmver,a ivd1lan demand orvvittan assertion by Ute contractorseelring all employment practices,such as employment,upgrading,demotion or thta payment of money exceeding 5700,000 Is net a claim under the Act transfer, recruitment, advertising, layoff or termination, rates of pay or unlit confled as required by subparagraph d.2 below. A voucher, rather forms of compensation, and selection for !raining (Including invoice,or other routine request for payment Met is not In dispute when apprenticeship). submitted Is not a claim under the Act. The submission may be b. The contractor agrees to comply with the rules, regulations, and converted IQ a claim udder the Act by complying with the submission and relevant orders of the Secretary eF Labor Issued pursuant to the oerilicaalicn requiramenls Of this clause, if It is disputed either as to r ehabUt orad rs el the a amended. liability of amount or 1,not acted upon In a reasonable Orne. c. In the event of the contractor's noncompliance with this clause, d. action may be taken In accordance wllh the rules and regulations and to a co rat by vise contractor a must 4e made In A claim and the Postal relevant orders of the Secretary of Labor. Isr the contracting officer for a wdttera decision- A claim lay lhr�Postal Servica against the contractor Is subject to a written decision by the d. The contractor agrees to post In conspicuous places, available to :ontracting officer. employees and applicants, notices In a form to be prescribed by the Director,Office of Federal Contract Compliance Programs,provided by 2, For contractor claims exceeding$100,000. the contractor must or through the contracting officer. These notices state the contractor's submit with the claim the foflowing cerliflr afkrn= obligation under the law to take affirmative action to employ and advance "I certify that tftrt elalm Is made In gra©d faith,that the supporting in employment quallned handicapped employees and applicants,and the j data are accurate and complete to the best of my knowledge and rights of applicants and employees. beget,Uaat the amount raquested accurately reflects the contract e. The contractor must notify,each union or workers representative with adjulment for which,the contractor believes the Postai ararvice which It has a collective bargaining agreement or other understanding is liable, and that I am duly euf7irarized to certify the claim on that the contractor Is bound by the terms of section 503 of the Act and Is bahalf of the contractor." committed to taking affirmative action to employ, and advance in 3. The carlificalfon may be axe cuiad by any person duly authorized employment,handicapped individuals. to bind the contractor with raspacito the claire' , f. The conuaclor must Include this clause In every subcontract or a. For contractor claims of $10D,000 or less, the contracting officer purchase order over$2,500 under this contract unless exempted by must,9 requested in writing by the contractor,render a decision wkhin 60 rules,regulations,or orders of the Secretary issued pursuant W section days of the request. For conlraclor-certillerf claims over$101),000, the 503 of the Act,so Its provisions will be binding upon each subcontractor. contracting officer roust, within W days, dealda the claim at nolf� the or vendor. The contractor must take such acllon with respect to any contractor of the dais by which the decision will be made. subcontract or purchase order as the Director of the Office of Federal Contract Compliance Programs may direct to enforce In these 1. The contracting officers decislon is final unless the contractor provisions,including action for noncompliance. appeals or[Iles a suit as provided In the Act A,15 AFFIRMATIVE ACTION FOR DISABLED VETERANS AND g. When a ctatm Is submitted by cr against a erarilraclor,the partles by VETERANS OF THE VIETNAM ERA mutual consent may agree to use an altemative dispute resolution(ADR) process to assist in resolving Me claim. A cadilloallon as described in If this contract provides for payments aggregating 510,000 or more, the d(2)of Utls Clause must he provided for any claim,regardless of dollar following clause Is applicable, amount,before ADR Is used. a. The contractor may not discriminate against any employee or h.. The Postal Service will pay Interest an the amount found due and applicant because that employee or applicant is a disabled veteran or unpaid from: veteran of the Vietnam era, In regard to any position for which Ilse employee or applicant Is qualified. The contractor agrees to take 1. The date the contracting officer receives the claim (properly affirmative action to employ, advance In employment, and clhenvlse certified it required);or treat qualified disabled veterans and veterans of the Vietnam era wilhoul discrimination in all employment practices, such as employment, upgrading, demollon or transfer, recruitment, advertising, layoll or 45 (v2.2,June 1999) A'3 Il I lrrll�-EDsrr,�_ General Conditions to USPS Lease POSTM SERVICE_ termination,rates of pay or other forms a1 compensation,and selection g. The conlracler agrees to comply with she rules, regulations, and far training(Including apprenticeship). relevant orders of the Secretary of Labor Issued pursuant to the Vietnam b. The contractor agrees to list all employment opertings ryhfch exist at Era Veterans Readjustment Assistance Actor 1972,as amended. the time of the execution at this contract and those which occur during h. In the event of the contractors noncompliance vAh this clause, the periomtance of this contract, including those not generated by this action may be taken In accordance with the rules, regulations, and contract and Including those occurring at an establishment of the relevant orders of the Secretary, contractor other than the one where the contract!r being performed,but excluding those of Independently operated corporate affllfales, at an I. The contractor agrees to post in conspicuous places, available to appropriate local office of the state employment service where the employees and applicants, notices In a torr to be prescribed by the opening occurs. Stale and local govammeni agencies holding poslaf Director,Office of Federal Contract Compifance Programs..provided by Service contracts of$10,UDD or more vAl also list their openings with the r through the contracting officer: These.notices state she oontraclor`s o appropriate office of the state employment service. g len under the law to Lake affirmative action to employ and advance In employment quallffed disabled veterans and veterans of the Vietnam a. Listing at employment openings with the employment service system era,and the rights of applicants and employees. will be msde at least concurranily with the use of arty other recruitment The contractormusf ncrlll each union or tvorlters"re rosenlaRiva with source or effort and will involve the normal obligations attaching to the j- Y p placing of a bona fida job order,including the acceptance of referrals of which It has a colieclfva bafgalning agreement or other understanding veterans and non-veterans,The listing of employment openings does not that the contractor Is bound by Ute terms of the Act and Is committed to require the hiring of any particular applicant or hiring from any particular taking allitmalfve scilon to employ, and advance in employment, group of applicants, and nothing herein Is Intended to relieve the qualified disabled veterans and veterans of he Vietnam era. contractor from any other requirements regarding nondiscrimination In employment. k. The contractor roust Include this clause In every subcontract or purchase order at$10,004 or more under this aanfract unless exempted d_ Whenever the contractor becomes contractually bound to the listing by rules,raqulallOns,or orders of the ecrelary Issued pursuant to the Provisions of this clause,it must advise the employment service system Act,so Its:provisions still be binding upon each subcontractor or vendor. In each Slate where It has establishments of the name and location of The conlr=tcrr rust take such taction wrllh respect to any subcontract or each hiring location In the Stale. The contractor may advfse the Stale purchase order as the Dlteclbr of the Office of Fadefol Contract system when It Is no longer bound by this clause. Compliance Programs may direct to enforce In these provisions. Including action for noncom pIlona v, e. Paragraphs b, c, and d above do not apply to openings Ute contractor proposes to 1111 from within Its own organization or under a A.15 GRATUITIES OR GiFTS customary and traditional employer/union hiring anangemenL But this -!uslon does not apply to a particular opening once the contractor a. The Postal Service may terminate this contract for default if, after !as to consider applicants outside its assn organlzallon or notice and a hearing, rho Postal Service Board of Contract Appeals ,.foyer/union arrangements for that opening. determines that the contractor or the contractor's agent or other representative: ,. Oellnitlons 1. All Employment O Openings. This Includes all positions except 1. Offered or gave a gratuity or gift(ars defined 1n 5 CFR 2635) to p P P an officer at employes at the Postal Service;and executive and lop management, those posillans that will be piled from within the contractor's organization,and positions lasting three 2. Intendedby the gratuity f0 obtain a contract or favorable days or less. This also Includes lull-arose employment, temporary treatment under a contract employment of more than three days duration, and gest,lime b. The fights and remedies of the Postal Service provided In this clause employment Under lite most compelling circumstances, an employment opening may not be suitable for listing, including are In addition to any other rights and remedies ptovided by law or under shuallarrs In which the needs of the Postal Service cannot this contract reasonably be otherwise supplied,when Ilsling would be contrary to nallonat security,or when listing would not be In the best interest of A.17 HAZARt1OUSfroXIC CONDITIONS CRUSE the Postal Service. 'Asbestos containing building material, (ACEM) means any material 2. Appropriate Offica of the State Employment Service. This conlalning more than 1%asbestos as delerrnined by using Ute method means the local allice of the federallstale national system of public Specified its 40 CFR Dart 763,Subpart E,Appendix E.'Friable asbestos employment offices will assigned responsibility for serving the area material'means any ACBM that When dry,can he crumbled,pulverized, where the employment opening Is to be filled,Including the District of or reduced to powder by hand Pressure. Columbia,Guam,the Commonwealth of Puerto Rico,and the Virgin The Lessor must identity and disclose the paa,enoa location and Islands. quantity of all ACBM or presumed asbestos containing material(PAGNI) 3. Positions That Will ba Filled From Within the Contractor's Own which Includes all thermal system Insulation,.sprayed on and troweled on Organization. This means employment openings for Which no surfacing materials,and asphalt and vinyl flooring material unless such conslderailon will be given to persons outside the contractor's material has been tested and Identified as non-ACB&C The Lessor organization (including any affiliates, subsidiaries and parent agrees to disclose any Information concerning the presence of lead- companies) and includes any openings which the contractor based paint, radon above 4 pCllL,and kali piping or solder In drinking proposes to fill from regularly established recall lists. water systems In the building,to the Postal Service. 4. Openings the Contractor Proposes to FIII Under a Customary Silas cannot have any contaminated sell or wratar above applicable and Traditional EmplayorlUnlan Hiring Arrangement Employment federal,state or local action levels or undisclosed underground slarage i openings the contractar proposes to lilt from union halls as part of tanks. Unless due to the act or negligence of the Postal Service, It the customary and tradltlonal hlring relationship existing between It coniaminaisd loll,water,underground storage tanks or piping or Inahle and representatives of Its employees, asbestos material or any other hazardoushoxlc materials or substances as deflned by applicable Local, Slate or Federal lase is subsequently (v2.2,June 1999) A-q f i irrI fsrxs General Conditions P� P05TALSER ICE- v Leese identified on the pramises,The Lessor agrees to remove such materials hereby leased(provided such alterations,additions,structures,or signs or substances upon notification by the U. S. Poslaf Service at Lassor's shall not be detrimental to or Inconsistent with the rights granted to other sole cost and expanse In accordance a'rrth EPA andlor Slate guldetires. tenants on the property or In the building in which said premises are Il ACBM Is subsequently found in the building which reasonably should located); which fixtures, additions or siructures so placed In, upon or have been determined, Identified, or knovm to the Lessor,She Lessor attached to the said premises shall be and remain the property of the agrees to conduct at Lessors wale expense, an asbastos sunray Postal Service and may be removed or otherwise disposed of by the pursuant to the standards of the Asbestos kfazaid Emergency Response Postal Service. Prior to expiration or termination of this lease Ilio Postal Act(AHERA),establish an Operations and Maintenance(O&M)pian for Service may remove such alterations and Improvements and restore the asbestos management, and provide the survey report and plan to the premises to as good condlUon as that existing at the time of entering postal Service. It the Lessor 12115 to remove any friable asbestos or upon the some under the lease,reasonable and ordinary wear and fear haxardoushoxlc materlais or subsiances, or complete an AHEAA and damages by the elements or by circumstances over which the asbestos survey and 09M plan, the Postal Service has the right to Postal Service has no control,excepted. It however,at the expiration or accomplish Ina work and deduct the cast plus adminlsiralive costs,from termination of the lease or any renewal or extension thereof,the Postal lulure rent payments or recover these costs from Lessor by other means, Service elects not to remove such alleratlons and/or Improvements,said or may,al Its sola option, cancel this Lease, in addition, the Postal alterations and/or improvements shall become the property at the Lessor Service may proportionally abate the rent for any period the premises,or and any rights or restoration are waived. any pan (hereof, are determined by the Posta) 5ervirs to have been rendered unavallabla to U by reason of such condttlon. A-22 APPLICABLE CODES AND ORDINANCES The remainder of this clause applies if this Lease Is for premises not The Lessor,as part of the rental consideration,agrees to comply with alt previously occupied by the Postal Service. codes and ordlnancos appllcable to the ownership and operation of the building In which the rented space is situated and to obtain ail necessary By execulien of this Lease the Lessor certIllas: permits and related Items at no cost to the Postal Service. 1 the property rind improvemants.are its rat all conlam Ina tion from A.23 DAMAGE OR DESTRUCTION OF PREMISES pelroleum products or any hazardousitaaxic or unhealthy materials or substances, including friable asbestos materials, as defined by It the demised premises or any portion lhereol are damaged or applicable State or Federal taw; destroyed by lire or other casualty,Acts of God, of a public enemy,riot or Insurrection or are otherwise determined by the Postal Service to be associated ssoeiatad piping,Thera are n,ACSM,radon,lead-based paint,or Lead piping or undisclosed underground storage tanks or unlit for use and occupancy,the Postal Service may: solder in drinking water systems,on the property;arid a. terminate this lease as of the dale the premises become unfit for use 3. It has not received, nor Is It aware of, any notification or other and occupancy,or corrimunfcalfon (nary any govommental or regulatory entity b. require the Lessor to repair or rebuild the promises as necessary to concerning any envlronmenlat conditlon, Of violailan or patentlal restore them to tenantable condition to the satisfaction of The Postal violation of arry local, state, or federal environmental statute or Service. For any period the premises,or any part thereof, lira unfit for regulation,existing at or adjacent to the property. use and occupancy, the rent will be abated In p€oporgun to the area determined by are Postal Service to be unienantable. UnfTlnELRs lot use The Lesson hereby Indemnities and holds harmless the Postal Service does not Include onsullablitty arising from such causes as design,slze, and Its officers.,agents,rapresentallves,and employees from all claims, or location of the promises,or lass,damage, actions,causes of ootlon, expense, fees anftr liability resulting from,brought for,or an account of any vlol8tiun of this clause.. C. accomplish all repair necessery for postal occupancy and deduct ail such costs,plus adminlslrallve burden from future tents. A.18 ADVERTISING OF CONTRACT AWARDS A.24 LESSOR OBLIGATIONS Except wllh Ilse conlracl[rip oylcer's prior approval,the confraclor0preas not to rarer in its commercial advertising to the fact that it was awarded a The Lessor's obligations regarding the services Io be provided are further Postal Service contract or to Imply In any manner that the Postal Service defined as folfows endorses Its products, a. If heating system and fuel are furnished - Lessor must furnish treating system together with all fuel required for proper operation of the A 79 RECORDING system during the continuance of the Lease, The system roust be In This agreement or a memorandum hereof, must be recorded at the good working order and,11 maintained by the Lessor,wlt be maintained expense of the Lessor, Such expanso Includes alt lees required for or In accordance with the Mainlonanve Rider attached hereto. Any Incident to recording- It the Lessor lalls to record the Lease,, or a Invesligative or remedlallen asst assootaled with a refea,e of luut from memorandum thereof, the Postal Service may record the Lease or a The system, Including any fuel tanl(, shell be the respon5lb44 of the memorandum thereof, and deduct all costs assocfaled therewith from Lessor, unless than release is cause by the act or naglr'gence of the future rents. Postal Service, b. If heal is furnished • Lessor must maintain a uniform heating Ago SUBLEASE temperature of 85 degrees F, In all enclosed portions or the demised The Postal Service may sublet all or any pad of the promises or assign promises during the continuance of the Lessee this lease but shall not be relieved from any obligation under this lease c. It heating system Is furnished-Lessor roust furnish healing system by reason of any subletting or assignment. In good working order and.If malnlalned by Lessor,will be maintained in acetardarice w)Ua the Maintenance Rlder atfached hereto, Any A 21 ALTERATIONSInvesllgative,oar remadiatlon cost assoctated with ra release of fuel Irom The Postal Service shall have the right to make afleraUens, attach the system, Including any fuel tank, shall be the responsibility of the fixtures and erect additions,structures or signs In or upon the premises ,;5 (v2-2,June 1999) A-5 i � r General Condhions to USPS Lease Lessor, unless the release is cause by the act or negligence of the A.26 RESERVED Postal Service. A.27 DAVIS-BACON ACT d. If Iighllntl llxturas and power are tumishad-Lesser must provide light The lollatving Is applicable If Ibis agreement covers premises of net fixtures in good vaadtng order as wall as pay all recurring electric bids. Interior space In excess of 6,50D square feel and Involves construction e. It light lixtures are furnished-Lessor must provide light fixtures in work over 52,000.00. good working order. a. Minimum Wages I. II elecificily Is furnished- Lesser must pay for all recurring electric I. All mechanics and laborers employed in the contract work[other bills and furnish the electrical system during the continuance of the than maintenance work of a recurring, routine nature necessary to Lease. keep the building or space in condition to be continuously used at an g. II electrical system Is furnished- Lessor must lumsfsh an'electrical established capacity and efficlency for its Intended purpose)must be system kt good working order having a separate electrical meter. paid unconditionally, and not less than once a week, wilhoul deduction or rebate (except lar deductions permitted by the h. if water system and waltz service are furnished - Lessor must Copeland Regulallons(29 CFR Part 3)),the amounts due at the time tumish a wa-ler system in goad working order and pay for all recurring of payment computed at rates not less than the aggregate of the walur bltls during the contincranca of the Lease. basic hourly rates and rates of payments,contributions,or casts for any fringe benefits contained In the wage-determination decisfon of i. II water system Is furnished-Lessor must furnish a wafer system In the Secretary of Labor, attached heralo, regardless of any good working order with separate water molar. contractual relationship alleged to exist between the Lessor, or j if sewerage system and sewerage sarvlce Is furnished - Lessor subcontractor and these laborers and mechanics. A copy of the wa a delerminallon decision must be kept posted b the Lessor at plumbing, as to turn sh o nectio systems including did lines rtdent, relatpT,pIne, the site of the work in a prominent place whre It can easily be seen plumbing, linrss, connections, srrptlo tanks, field lines and related b the welters. devices,as necessary and to pay all charges,fees and other costs for y such system and services during the continuance of the Lease. 2. The Lessor may discharge Its obligation under this clause to k. if satvaragt system Is furnished Lessor agrees to lumish sewerage workers In any classification for which the wage-dolerminalion systems Including all equipment, ptp€ng, plumbing, lines, corinectlans, decision contains: septic lanky, field lines, and related devices,as necessary during the (a) Only a basic houdy rate of pay,by malting payment at not --nllnuance of the Lease. less Than that rale,except as otherwise provided ire the Copeland Future Avaltahility, of public Water andlar Sowerago Servicers Regulallons('29 CFB Part 3),or igardless of Lessrrra responsibility for water andfor sewerage tinder (b) Both a basic hourly rate of pay and fringe-bonsifl payments, aiLS Lease, II public water anrVor sewerage services are not ourrenuy by paying In cash,by Irrevocably contributing to a fund,plan,or avaltabla, but become available in the future, the Lessor agrees to program for,or by assuming an enforceable crnnmilment to bear accomplish connection,maintain,and pay all tees and costs Involved In the cast of,bona fide fringe benefits contemplated by 4D U.S.C. aonnecffnga the building system to the public Water andlor sewerage 276x,or by a combinaUon of these. systems, Allor connection, the f 055 Service agrees to pay recurring charges for water consumption and use of sawerago services, it 3. Contributions made,or costs assumed,on other then a weekly connection of such sarvicas13 optional,the Postal Service will determine basis (but not less often than quarterly) are corsUered as having it the connection is to be made by the Lessor. bean constructively made for a weekly period. When a fringe benefit m. if air•cvndllloning equipment and o araling power are provided - Is expressed In a wage determination in any manner other than as p p P on hourly rale and the Lessor pays a cash equivalent or provides an Lessor must fumish air-cetndflloning equipment together with all power allemative fringe benefit, the Lessor must fumish information with required for proper oparratfon of The equipment during the conllnuance of the lessors payrolls showing how the Lessor determined that the the Lease. The equipment must be in goad woddrig order and, If cost incurred to make the cash payment or to provide the raltemative maintained by the Lessor,v,+lll be maintained In accordance with the fringa benefit is equal to the cost of the wage-delorminatlan fringe Maintenance Rider attached hereto. benefits. When the Lessor provides a fringe benefit dMarant from n. if air-conditioning equipment Is lurnished-Lessor must lumish air that contained In the wage determinalion,the Lessor must show how condilioningi equipment to the demised promises in goad working order the hourly rate was arrived at, In the event of disagreement as to an and,II maintained by Lessor,W10 be maintained In accordance with the equivalent of any IrhtgP benefit, the contracting allicor must submit the question,together with the contracting officers recommendation, Malntenarrce Rider included attached hereto, to the Secretary of Labor for linal determination. o, it air-candilloning Is furnished Lessor must maintain a uniform lemperature of no greater!hart 73 degrees F,in all enclosed portions of tIf the contractor does not maks payments to a Trustee or other third person, the contractor may consider as payment of 1vap0.s the the domised pramises and be responsible for sarvioing of Ihaair costs reasonably enliclpated In providing bone fide fringe benelits, condilicnintg equipment including,but not limited to, thu€eplaoemeni of but only wilh the approval of the Secralary of labor pursuant to a necessary filters and raftlrgarant as required for proper operation of the written request by the Lessor, The Secretary of Labor may require equipment together with power, waler and other services for Its the Lasser to set aside assets In a separate account, to meet Ilse operation. Lessror"s obligations under any unlunded plan or program., A.25 LESSOR'S SUCCESSORS 5. The conlraeling officer will require that any class of laborers or The terms and provisions of this Lease anmechanics not ilsled in the wage-delmminatlan but to be amployedd the conditions herein are under the contract tvlif be classilled in cantormance with The wage- binding on the Lessor, and all heirs, executors, administrators, determination and report tha actlon taken to the Administrator of the successors,and assigns. Wage and Hour Division, Employment Standards Administration, AS (v2.2,June 1999) A-6 i t s fm ,uANTEDSTATES Genera{ Conditions to USPS Lease ;z POSTagt.5'ERVIC U.S. Department of Labor, Washington, D,G. 20210.0001, for on the wage determination foe The classification of world actually approval. The contracting officer will approve an additional performed. cfasslflcallon and v.age rare and fringe benefits therefor only If: 3. If the Bureau of Apprenticeship and Training or Stale agency (a) The work to be performed by the classification requested is recognized by the Bureau(as appropriate)Withdraws approval of an not performed by a classification in the a vage•determinaflon; apprenticeship program, or If the Employment and Training Administration withdraws approval of a trainee program, the (b) The classincallon Is utilized In the area by the construction contractor will no longer be permitted to utilize apprentices or industry;and trainees (as appropriate)at less than the applicable predelennined c} The proposed wage lois, Including any bona tide fringe rate for the work performed until an acceptable program Is approved. ( (a) The bears a reasonable relationship to the wage rates (See 29 CFR 5.16 for special provisions that apply to training plans approved or recognized by the Department of Labor prior to August contained In the wage determination. 20,1975.) S. if the Lessor, the laborers or mecliants to be employedfn the 4. The utilization of apprentices,trainees,and journeyman must be classlllcatlon or their representatives,and the contracting olficer do In conformity with the equal employment opportunity requirements of not agree on the proposed classillcation and waga rale and fringe Executive Order 11246,as amended,and 29 CFR Part 30, benefits therefor, ills contracting officer must submit the question, together with the views of the interested parties and the contracting c. Overtime Compensation oilicer's recommendation, to the Wage and Hour Administrator for linal determination, The Administrator or authorized representative 1. The Lessor may not require or permit any laborer or mechanlc will,wilhin 30 days at recelpt,approve,rnodlly,or disapprove every employed on any work under this contract to work more than 40 proposed additional classification action, or Issue a that hours in any workweek on work subject to the provisions of the dalarminaWn 11 the parties disagree, and so advise the contracting Contract Work Hours and Salety Standards Act(40 U.S.C.327-333), officer or advise that add'lilonal lime is necessary. The finaf unless the laborer or mechanic receives compensation at a rate not approved wage rate(and fringe benallis if appropriate)must be pald' less than one-and-one-half limes the laborer's or mechanic's basic to all workers performing wark In the clBssrdicalifan under the contract rate of pay for all such hours worked in excess of 40 hours. tram the first day work Is performad In the ciassificaflon.The Lessor wlil post a copy of the final determination of the conformance action 2. For violations of subparagraph c.1 above,the Lessor is liable for with the wage-delerminatl®n determination at the site of the walk- liquidated damages, which will be computed for each laborer or (The Department of Labor Information cotlecilon and reporting machnnic at$10 for each day on which the employee was required requirements conlainad In subparagraph a.5 above and In this or permitted to work In violation of subparagraph c.i above. subparagraph a,6 have been approved by The Mice of Management 3, The contracting officer may withhold from the Lessor sums as and Budget under OMB control number 1215-b114G.) may administrratively be determined necessary to sallsry any Apprentices and Trainees Ilablllifes of the Lessor for unpaid wages and liquidated damages pursuant to subparagraph c.2 above. 1, Apprentices may be permitted to work only when d. Payroll and Other Records (a) registered, Indlvldiaally, under a bona flde apprenticeship program registered with a State apprenticeship agency 1= For all laborers and mechanics employed In fYta work cowered by recognized by the Bureau of Apprenitceship and Training, this clause, the lessor must maintain payrolls and rsialed basic . U.S.Department of Labor,or,If no such recognized agency records and preserve there for a period of 111ma years after contract exists In a state, under a program registered with the completion.. The records must contain the name, address, and Bureau of Apprenticeship and Training;or social security number of each employee, the employee's correct classification, rate of pay (including rales of contributions fat, of (b) If not Individually ragislared in the program,ceri sled by the costs assumed to provide, fringe benefits), The daily and weekly Bureau of Apprenitceship and Training or stale agency(as numbar of hours worked,deductions made,and actual wages paid, approprlele) to be eligible for probationary employment as Whanawar the Lessor has obtained approval it=.the Secretary of an apprentice, Trainees may be permitted to work only It Lnhor[a assume a commitment to bear the cost of fringe bane% Individually reglstarad In B program approved by the under subparagraph a.4 above, the Lessor must maintain records Employment and Training Administration,U.S. Department showing the commitment and Its approval, cormmunlcallon of the of Labor. plan or program to the employees allected,and the costs anticipated or incurred under the plan or program, Lessors employing 2. The rallo of apprenilces to jcumeymen or ttralneas to joumuymen apprentices or trainees under approved programs must maintain In any craft classihcallon must not be greater than that permitted for written avldene oaf the regisiration of apprenticeship prograrras and the Lessors entire work force under the registered apprenticeship or cerliffcallran of trainee programs,the raglsiraGran of the apprenilces trainee program.Apprentices and trainees must be paid at least the and trainees, and the ratios and wage rates prascritmd in the , applicable wage rates and fringe benefits specified in the approved ,applicable Programs. (`the Department of Labor inlonnallon apprenlicaship or trainee program for the prarllcular apprentices or Milectlon and record keeping requirements in ltrls subparagraph d.1 trainee's level of progress, expressed as a peruenlape of the have been approved by the Office of Management and Budget under Journeyman hourly rale specified In the applicable wage- ONES control numbers 1215-Ul40 and 1215.0017), delemminal'lon. if the uppranilceship or trainee program does not specify fringe benefits,apprenitcas or trainees must be paid In the 2, The Lessor must submit weakly, for each weak fro which any lull amount of Iringe benefits listed on the waga-datemmnallon for the work Covered by this clause is performed,a copy of all payrolls to the applicable clesslticatlon unless the Administrator of Wage and Hour conlracling officer. The Lessor Is responslble for the submtsslon cal Division determines that o different practice prevails,. Any amployee cop"res rrl payrolls of all subcontraclors. The copy must be listed on s payroll at an apprentice or trainee wage rate not accompanied by a statement signed by the Lessor Indfcaling that Ilia regislered, or perivirnIng work on the job she in excess of the ratio payrolls are correct and complete, that the wage rates contained In permitted under the registered program,must be paid the wage rale therm are not less than those delarmined by the Sacrawry of Labor, 15 (v2.2,June 1494) A-7 LfVf i EIJi 7f.TES General Conditions to USPS Lease laC7 a 11L 50? JC and that the classiffmilons set forth for each laborer or mechanic and the Postal Service, the U.S. Department of Labor, or the conform with the worlt the laborer or mechanic performed, employees or their representailves. Submission of the Weekly Statement of Compliance (see 29 CFP. required tinder Itils agreement sallsfies this requirement. AM BANKRUPTCY As raqulred by lhis clausrr, the Lessor must submit a copy of any In the Quant the Lessor enters Into proceedings relatingto bankruptcy, approval by the Secretary of Labrir. (i he uir Department til Labor whether voluntary or Involuntary,the Lessor will furnish,b certified mail, information collection and raporling requirements; in Ihls rY ry, Y subparagraph d.2 have been approved by the Office of Management written notification of the bankruptcy to the contracting officer responsible and Budget under 01413 control number 1215-8149.) for adminlstar{ng the contract. The notification must be furnished wilhin five days of the initiation of the bankruptcy proceedings. The notification 3. The Lessors records required under this clause must be must include the dale on which the bankruptcy petition was riled, the avallsbte for inspection by authorized represemlattvas of the court In which the petition was filed,and a list of Postal Service contracts contracting officer and the Department of labor. and the Lessor and contracting officers for all Postal Service contracts for which final must permit the represantativa in interview employees during payment has not yet been made. This obligation remains in effect until warking hours on the job, Mal payment under this contract. 4. The Lessor must comply with the Copeland Regulations of the Secretary of Labor(29 CFR Part 3),which are hereby Incorporated in [his contract by reference. e. Withholding of Funds. The contracting officer may withhold from the Lessor under this or any other contract with the Lessor so much of the accrued payments or advances as is considered necessary to pay all laborers and mechanics the.full remount of wages required by this Contract or any other contract subject to the Davls-Bacon prevailing wsna requirements that Is hold by the Lessor. L Subcontracts 1. If the Lessor'or any subcontractor falls to pay any laborer or mechanic employed on the site of the work any of the wages required by Iha contract, the contracting officer may, after writien notice to the lessor, suspend further payments or advances to the lessor until violations have ceased. 2- The lessor agrees to Insert this clause,including this paragraph 1, in all subcontracts hereunder. The term"lessor"as used In this clause In any subcontract, is deemed to refer to the lower- [ter owerIter subcontractor. g. Compliance with Davis-Bacon and Related Acts Requirements. All rulfngs and Inlerprotations of thu Davls-Bacon Act and related acts contained In 29 CFR Parts 1,3, and 5 are hereby Incorporated by reference In this contract- h. ontracth. Certification of FJlgibillty 1. By entering Into this contract, the lessor certllfes that neither it or any person or firm hewing an interest In the lessor is ineligible to be awarded contracts by virtue of secllon 3(a)of the Davis- Bacon Act or 29 CFR 5.12(x)(1). 2. No part of this contract-,vlll be subcontracted lo any person or Firm Ineligible for rantraig award by vinue of section 3(a)of the Davis-Bacon Act or 29 CFR 5.12(a)(1). 3. The penalty for making false statements Is prescribed in the U.S.Criminal Code,18 U.S.C.100E I. Contract Termination and Debarment. A breach or this Davis- Bacon Act clause may be grounds for termination of the contract and debarment as a contractor and subcontractor as provided In 29 CFR 5.12. j. Mputes Concerning Labor Standards. Disputes aftsing out of the labor standards provislons or this contract are not subject to the Ctaims and Disputes clause. They will be resolved In accordance vilth the procedures of the Department of Labor sal forth In 29 CFH Parts 5, B, and 7. Disputes within the manning of frits clause Include disputes belvimn the lessor(or any of ils subcontrac(ors} .5 (v2.2,June 1999) A-u i t -- LJAIITEDS 4TES Representations and Certifications fiOST,K SER VICE- SECT]ON S B.1 TYPE OF BUSINESS ORGANIZATION The offeror,by checking the applicable blocks,represents that it: l a. operates as i� corporation Incorporated under the laws or the Stale of 11.5 U 1 _ _ [Dan individual, ❑a partnership, ❑a joint venture, ❑a non-profit organization,or ❑an educational Institution;and b. Is a ❑small business concern, ❑minority-ownedbuslness, ❑woman-owned business, ❑labor surplus area concern, ❑educational or other non-profit organization,or E7 none of the above entities. c. SMALL BUSINESS CONCERN. A small business concern for the purposes of Postal Service procurement Is a concern, Including Its affiliates,which is Independently owned and operated,is not dominant In the field of operations in which it is submitting an olier,and Is of a size consistent with the standards set forth by SBA in CFR Pail 121,or it no standard has been established, then of a size employing ntal more than 500 employees. (Also see USPS Procurement Manuel,Chapter 10,Section 1.) d. MINORITY"-OWNED BUSINESS. A minodf y-owned business is a concern that is at least 51 percent owned by, and whose management and daily business operations are controlled by,ogle or more members of a socially and economically disadvanlaged minority group,.namely U.S.citizens who are black Arnerlcans,Hispanic Americans,Native Americans,Aslan-Pacific Americans,or Astan-Indlan Americans. ("Native Americans" means American Indians, Eskimos, Aleuts, and native Hawaiians. "Asian-Pacific Americans" means those whose origins are In Japan, Cllina,,, the Philippines, Vietnam, Korea, Samoa, Guam, the U-S. Trust Territories of the pacific islands, the Northern Ma Hanes Islands, Laos, Kampuchea, or Taiwan. "Asian-Indian Americans"means those whose origins are in India,Pakistan,or Bangladesh.) e. WOMAN-OWNED BUSINESS. A woman-owned business is a business which Is at least 51 percent owned, controlled, and operated by a woman or women. Controlled Is defined as exercising the power to make policy decisions. Operated Is defined as actively involved In the day-to-day management. f. LABOR SURPLUS AREA. A geographical area which at the time of award is either a section of concentrated unemployment or 'eremployment,a persistent labor surplus area,or a substantial labor surplus area,as defined in this paragraph. 1. Section of concentrated unemployment or underemployment means appropriate sections of Slates or labor areas so classiflad by the Secretary of Labor. 2. Persistent labor surplus area means an area which is classified by the Department of Labor as an area or substantial and persistent labor surplus(also celled Area of Substantial and Persistent Unemployment)and Is listed as such by that Department in conjunction with Its publication,Area Trends In Employment and Unemployment- 3. nemployment3. Substantial laborsurplus area means an area which is classified by the Department of Labor as an area of substantial labor surplus (also called Area of Substantial Unemployment)and which is listed as such by that Department in conjunction with its publication,Area Tretlds In Employment and Unemploymenf. g. LABOR SURPLUS AREA CONCERN. A firm which will perform or cause to be performed a substantial proportion of a contract In a labor surplus area. h. EDUCATIONAL OR OTHER NON-PROFIT ORGANIZATION. Any corporation,foundation,trust,or other institution operated for scientific or educational purposes, not organized for profit, no part of the net earnings of which inures to the profits of any private shareholder or individual. B.2 PARENT COMPANY AND TAXPAYER IDENTIFICATION NUMBER a. A parent company Is one that owns or controls the baslc business policies of an olferor.To own means to own more than So percent of the voting rights In the offeror. To control means to be aide to formulate, determine, or veto baric business policy decisions of the offeror.A parent company need not own the offoror to control it;It may exercise control through the use of dominani minority voting rights,proxy voting,contractual arrangements,or otherwise, b. Enter the offeror's Taxpayer Identification Number(TIN)In the space provided.The TIN is the offeror's Social Security Number or other Employee Identification Number used on the offero,'s Quarterly Federal Tax Velum,U.S.Treasury Form 941. 011eror's TIN: D_1—D19D7'5 c. []Check this block If the offeror Is owned or controlled by a parent company. i (v2.2,June 1999) B-1 i I - �4 0XITED sa res Representations and Certifications `� Ptah fit,SF1� rClMr d. If the block above Is checked,provide the following information about the parent company: Parent Company's Name: Parent Company's Main Office Address: No.and Street City: Slate:` Zip Code: Parent Company's TIN: e. If the offeror is a member of an affiliated group that files Its federal Income tact return an a consolidated basis(whether or not the offeror is owned or controlled by a parent company, as provided above) provide the name and TIN of the common parent of the affiliated group: Name of Common Parent- Common Parent's TiN: B.3 CERTIFICATE OF INDEPENDENT PRICE DETERMINATION a. By submitting this proposal, the offeror certifies, and in the case of a joint proposal each party to it certifies as to Its own organization,that in connection with this solicitation: 1. The prices proposed have been arrived at Independently,without consultation,communication,or agreement,for the purpose of restricting competition,as to any matter relating to the prices with any other offerar or with any competitor, 2. Unless otherwise required by law, the prices proposed have not been and will not be knowingly disclosed by the offeror before award of a contract, directly or Indirectly to any other offeror or to any competitor,and 3. No attempt has been made or Will tae made by the offeror to induce any other person or firm to submit or not submit a proposal for the purpose of restricting competition. Each person signing this proposal certifies[hal: t. He or she is the person in the offeror's organization responsible for the decision as to the prices being offered herein and that he or she has not participated,and will not participate,in any action contrary to paragraph a above;or 2. He or she is not the person In the offeroes organization responsible for the decision as to the prices being offered but that he or she has been authorized In writing to act as agent for the persons responsible In eerilfying That they have not participated,and will not participate,in any action contrary to paragraph a above,and as their agent does hereby so canify,and he or she has riot participated,and will not participate,In any action contrary to paragraph a above. a. Modification or deletion of any provislran In [his certificate may result in the rejection of the proposal as unacceptable. Any modification or deletion should be accompanied by a signed statement explaining the reasons and describing In detall any disclosure or communication. 8.4 CONTINGENT FEE REPRESENTATION a. The offeror must complet7has fallowing representations: 1. The offeror ❑ has not employed or retained any company or person (other than a full-time bona fide employee working solely for the offeror)to solicit or secure this contract. 2. The offeror ❑ has s has not paid or agreed to pay any company or person (other than a full-time bona fide employee working solely for the offeror)any fee,commission,percentage,or brokerage fee,contingent upon or resulting from the award of . this contract. b. If ellher representation Is in the affirmallve, or upon request of the conlraaling officer, the oflaror must furnish, in duplicate, a completed f=orm 7319,'Conlrerctar's Statement of Contingent or Cather Fees,"and any other informalion requested by the contracting officer.. ft the offeror has previous8y furnNhed a completed Form 7319 to the office tssulrig this solicitation, It may accompany kis proposai with a signed statement-- 1. Indicating when the completed form was previously furnished; 2. Identifying the number of the previous solicitation or contract,if any,in connection with which the form was submitted;and 3. Representing that the statement on the form Is applicable to this proposal. (v2.2,June 1999) B-2 f11ifJT 17ST/17 Representations and Certifications A05 SEf�t�rCE, c_ Licensed real estate agents or brokers having listings on property for rent, in accordance with general business practice, and who have not obtained such licenses for the sole purpose of effecting this lease, may be considered as bona Ifde employees or agencies within the exception contained In this clause. 6.5 CERTIFICATION OF NONSEGREGATED FACILITIES a. By submitting this proposal,the offeror certifies that Il does not and wllf not maintain or provide for its employees any segrerdaled facilities at any of its establishments,and that it does not and will not permit its employees to perform services at any location under Its central where segregated facilities are maintained,The offeror agrees that a breach of this certification is a violation of the Equal Opportunity clause in this contract. b. As used in this cerllfloallon,"segregaled facilities'moans any waiting rooms,wo*areas,rest rooms or wash roams,restaurarils or other eating areas, nine clocles, locker rooms or other storage or dressing areas, parking lots, drinking fountains, recreation or entertainment areas,transportation,or housing laclillles provided for employees that are segregated by explicit directive or are in tact segregatedon the basis of race,color,religion,or national origin, because of habli,local cuslcm,or otherwise. c. The offeror further agrees that (unless it has obtained Identical certifications from proposed subcontractors for specific time pe;lods)it will obtain identical cerllflcations from proposed subcontraclors before awarding subcontracts exceeding$10,000 that ;re not exempt from the provisions of the Equal Opportunity clause;ilii![It will retain these certificatlons In Its files;and that it vont foiward the following notice to these proposed subcontractors (except when they have submitted identical certifications for specific lime periods). NOTICE A cartlllcatlori of nonsegregated facilities mast be submitted before the award of a subcontract exceeding$10,000 that is not exempt from the Equal Opportunity clause.111e certification may be submitted either for each subcontract or for all subcontracts during a period(quarterly,semiannually,or annually). RESERVED B.7 LEASES BETWEEN THE POSTAL SERVICE AND ITS EMPLOYEES, CONTRACT EMPLOYEES, OR BUSINESS ORGANIZATIONS SUBSTANTIALLY OWNED OR CONTROLLED BY POSTAL SERVICE EMPLOYEES OR CONTRACT EMPLOYEES By submitting this proposal,the offaror certifies that the offeror 0 Is, Edis not an employee,a personal service contract employee or a member of the Immediate farnify of a Postal Service employee or personal service contract employee OR a business organization(partnership,corporation,joint venture,etc.).substantially owned or controlled by a Postal Service employee,a personal service contract employee, Or a member of the immediate family of a Postal Service employee or personal service contract employee_ "Irnmediale family"means spouse,rr1nor ohild or children,and other Individuals related to the employee by blood who are residents of the employee's household, (v22.June 1999) 13-3 pi l t UNITED-J-5 TES Maintenance Ricer fit-STI?/-SERVICE- USPS Responsibility (Partial) a 11 the Postal Service is assuming maintenance responsibility for the demised premises for the first time, the Lessor must correct ,It maintenance deficiencies and obtain a written certification from a professional HVAC firm that the heating,ventilating and air conditioning systems have been maintained and are in proper working condition. The Lessor will remain responsible until all deferred maintenance work has been completed to the satisfaction of the Postal Service and Postal Service is In receipt of and accepts the aforementioned written certification. b. The terra "demised premises"as used in this rlder Includes the premises described in the Lease, the improvements and appurtenances to such premises and all equipment and fixtures furnished, or to be furnished, by the Lessor under this Lease. c. The Postal Service is resoonslble for ordinary repairs to, and maintenance of the demised premises except for those repairs that are specifically made the responsibility of the Lessor in this Lease. The responsibility of the Postal Service as stated herein will be fulfilled at such time and in such manner as the postal Service considers necessary to keep the demised premises in proper condition. d. The Lessor Is responsible for: (1)Repairs to all common or Joint use areas, common or Joint use equipment and fixtures that may be Included as part of this Lease. (2)All repairs to structural elements and all parts of the roof system. The term,"structural elements"as used In this clause is limited to the foundation,bearing walls, floors(not Including floor covering),and column supports. The roof system Includes,but Is not limited to, the roof covering,Hashing and insulation,and roof beams,joists, and deck. (9)Repairs resulting from Acts of God,of a public enemy,riot or insurrection. (4)Inspection, prevention and eradication of termites and any other wood eating insects and for repairs of any damage resulting therefrom. (5)Repairs resulting from defects in building construction or installation of equipment, fixtures, or appurtenances furnished by the Lessor. (B)Repairs resulting from fire or other casualties, unless such casualties were caused by the negligence of employees or agents of the Postal Service. (7)Any ordinary repairs by the Postal Service which were made necessary by the failure of any element for which the Lessor is responsible. e. When the neem arises for repairs which are the responsibility of the Lessor, Including any repairs or actions for which the Lessor is responsible under paragraph a. hereof, the Postal Service will (except in emergencies) give the Lessor written notice of the needed repairs and will specify a reasonable deadline for completion of the work. A copy of such notice will be seat by certified or registered mail to the Lessor's mortgagee and assignee of monies due or to become due pursuant to Oils Lease whose names and addresses have been furnished to the Postal Service by the Lessor. If none of these parties f lessor, mortgagee or assignee) proceed with the work with such diligence so as to ensure completion within the time specified in the notice(or any extension thereof granted at the sole discretion of the Postal Service) or actually fails to complete the work within said time, the Postal Service has the right to perform the work, by contract or otherwise, and withhold tate cost of such work (which may include administratfve cost and/or Interest) from payments due under this Lease. In addition, the Postal Service may proportionally abate the rent for any period the damised premises,or any part thereof, are determined by the Postal Service to have been rendered unavailable to it by reason of such condition, Alternatively, the Postal Service may, if the demised premises are determined to be unfit for accupancy,at Its sole discrellon,cannel this Lease without liability. .0 (v2.2,June 1999) 10-1 i I _ _ t Utvrrl DST)3TES Tax Rider FjRU,, F STALSE'PVIC Reimbursement of Paid Taxes/98 BOYNTON BEACH-DOWNTOWN STATION(110960-001) 2171`1 SEACREST BLVD. BOYNTON BEACH, FL 33435-4011 Assessor's Parcel Number. 08 43 45 28 10 004 0170 a. Definillons Ad Valorem means according to the value of the property. Prone Tax Rate is an amount expressed as dollars and cents per$100.00 or per$1,000.00 of assessed value or as mills per S1.00 of assessed value as set by authorities for tax jurisdictions. Real ProDerty Txas,as used in this clause,shall mean those taxes,including ad valorem taxes,special assessments,fees and charges,that are assessed against any or all taxable real property appearing on the assessment roll or list in a taxing authority's jurisdiction and that are identified by a taxing authority for the support of government activities within it's jurisdictlon,whether such activities are general or specific. Real Property Taxes also include administrative charges or fees Imposed by a taxing authority for the support of it's tax assessment and collection activities. b. The lessor agrees to pay all taxes of any kind,Including Real Property Taxes,special assessments, and charges and lees of every kind and nature levied on the Demised Premises. c. The Postal Service will reimburse Lessor for paid Real Property Taxes,as defined above,only under the following terms: 1. Lessor may submit not more than one request for reimbursement in any calendar year,irrespective of the number of taxing authorltles included; and reimbursement will be made not more than one time annually by the Postal Service. 2. No reimbursement will be made for fines,penalties,interest or costs imposed for late payment. 3. Reimbursement will be made only for paid taxes,less the maximum discount allowed by the taxing authority for prompt or early payment,regardless of whether Lessor actually received any such discount. 4. Notwithstanding anything contained in section c.3 above,In the case of a special assessment for which a taxing authority permits or prescribes Installment payments that extend beyond the lease term,reimbursement will be made only for those Installments that are required to be made during the lease term,regardless of whether Lessor pays In full or otherwise adjusts the payment schedule within the lease term. s. Reimbursement will be made only for taxes levied for periods of time within the term of this Lease. s. In order to qualify for reimbursement,the tax bill as issued by the taxing authority must pertain only to the Dernlsed Premises,and to no other real property_ 7. lessor must provide copies of the front and back-of the complete tax bill issued by the taxing authority,along with satisfactory proof of payment. Satisfactoryproof of payment shallbe(1)a receipt for payment shown on the face of the tax bill, (ii)a copy of the front and back of the canceled payment check,. (ill) a statement from a fender verlfying payment of the tax,or(iv)other documentation satisfactory to the Postal Service. a. Incomplete or improper requests for reimbursement will be returned to Lessor without payment. 9, The Postal Service is not required to reimburse paid taxes unless the request for reimbursement Is made within 1 a months after the close of the tax year. d. The Lessor must promptly furnish to the Postal Service copies of all notices that may affect the valuation of the Demised Premises for Real Property Tax purposes or that may affect the levy or assessment of Real Property Taxes thereon. If Lessor does not timely furnish such notices relating to valuation changes or the levy or assessment of taxes or falls to meet any legal prerequisite for appeal and the Postal Service loses the right to contest the validity or the amount of the taxes, then the Postal Service shall be responsible to reimburse Lessor for only 75%of the reimbursable taxes due for the year involved. V2.2,June 1999) T-1 t UIVITEDST TE.s Tax Rider PQST4L SE1?V1 F- Reimbursement of Paid Taxes/98 All notices required under this paragraph must be delivered or mailed,using certifier)mail with a return receipt or other verifled method of delivery,within ten(10)days from the receipt thereof by the Lessor to: COPITRACTING OFFICER, ATLANTA FSO 0000 D21CALB TECH PYWY 300, ATLANTA, GA 30340-2799 or to such other office as the Postal Service may later direct in writing. e. The Postal Service may contest the validity of any valuation for Real Property Tax purposes or of any levy or assessment of any Real Property Taxes by appropriate proceedings either in the name of the Postai Service or of the Lessor or In the names of bolt). Notwithstanding any contest of valuation, levy,assessment, or Property Tax Rate,Lessor rnust pay under protest the Real Property Taxes involved when requested to do so by the Postal Service. The Lessor,upon reasonable notice and request by the Postal Service,must join in any proceedings,must cooperate with the Postal Service,and must execute and fife any documents or pleadings as the Postal Service may require for such proceeding,provided lite Lessor is reasonably satisfied that the facts and data contained therein are accurate. Lessor will not be responsible for the payment of penalties,costs,or legal expenses in connection with any protest or appeal proceedings brought by the Postal Service,and the Postal Service will indemnify and save harmless the Lesser from any such penalties,costs,or expanses. Lessor hereby authorizes the Postal Service as it's agent to represent it's interest In any appeal or protest proceeding authorized under this paragraph. f. Lessor shall promptly notify the Postal Service of any appeal or other action it takes or Initiates to adjust any valuation of the properly,Property Tax Rate,or levy or assessment of Real Property Taxes. The Postal Service is entitled to any and all monies obtained through such actions or any other refunds or remissions of Real Property Taxes paid in any year subsequent to the commencement of the lease. If any such refunded or remitted monies are paid or delivered to Lessor,Lessor frust Immediately forward there to the Postal Service. If Lessor Is Informed ihat he is entitled to a refund or remission of monies paid as Real Property i-axes upon the submission of an application, Lessor will promptly make and file such application,and upon receipt of such refund or remission,Immediately forward it to the Postal Service. The Postal Service reserves the right to offset refund and remission payments not so obtained or forwarded,against rental or other payments due the Lessor. g. The Postal Service is entitled to the benefits of all tax exemptions or abatements authorized by law or regulation that may be available with respect to the Remised Premises. Lessor shall take all necessary steps to obtain such exemptions or abatements. The Postal Service reserves the right to offset against rental or other payments due the Lessor the amount or value of any abatement or exemption that would have been available if Lessor had properly applied for it,and any amount for whlch the Postal Service is not to be responsible under paragraph(b),above, h. Nothing herein contained shall operate to waive or deprive the Postal Service of any rights,privileges or Immunities It enjoys under law. (v2.2,June 1999) T-2 - i UIVITEDSWES Mortgagee's ,agreement (To be executed and attached to lease before it is recorded) Facillty Nam-2/Location BOYP]TON BEACH — DOWNTOWN STATION (110960-001) County:VALl-1 BEACH 217 W SEACP.EST BLVD BOYWON BEACH, FL 33435-4011 Project:H89364 The undersigned, holder(s)of a mortgage in the sum of on the property situated at: 217 14 SEACREST BLVD BOYPITON BEACH, FL 33435-4011 hereby consent(s)to the leasing of said properly to the U.S.Postal Service and agree(s)for itself,its successors, executors, administrators,and assigns that in the event it should become necessary to foreclose said mortgage the mortgagee will cause the sale of said premises to be made subject to said lease. Oaa Company 'ltinass slonalaare of Mort9 9 a eeg Oiflcsr Its 'rift of MorfgEoDa`s 0111091 5treetAddrass City,Stale and ZIP+4 Subscribed and Sworn to before me,notary public,In and for County,State of this day of Notary Public My commission expires —'qT(July 96,v1.12,Py i IJNI E`DS']ATES Designation of Emergency POSTAr 5ERV]CE, Repair Personnel Return completed,signed copy of this form to: Postal Unit: DOP1NT Ino STATION JODY SLOAIJ PROJECT VW%IAGER RE Street Address: 217 N SEACREST BLVD ATLAI-ITA FSO 4000 DEI:AL,B TECH PKWY 300 ATLMITA, GA 30340-2799 City,State,ZIP+4: BOYNTON BEACH FL, 33435-4011 Owner:THE VALLEY LAND CORP 220 HOLIDAY DR STE 27, WHITE RIVER JCT, VT 05001-2015 Contact the following personnel for emergency repairs for those services that are my responslbillty,under the terms of the_lease,when I (or my agent)cannot be reached after a reasonable period of time at Area Code 8 Telephone 802-295-3356 In the event the Postal Service Is unable to contact the designated emergency repair person or such person Is unavailable to perform necessary emergency repairs,the Postal Service Is authorized to arrange for such repairs by repair personnel selected by the Postal Servioe vuth cost thereof to be reimbursed by the lessor. For Vallev Land go- Arnold Moretto Roofinq Roofing/ Structural 220 Bbliday Dr., Suite 27 1499 SW 30th Ave. Emergencies OCheck If Not Applicable White River Jct., VT 05001 Boynton Beach, FL 33425 For Tel- 737-2383 Electrical Emergencies Check if Not Applicable ror Plumbing -_ ,Emergencies check tl Not Applicabie For Heating, Ventilating and Air-Conditioning Emerge cies taebkit Not Applicable For Other Emergencles (VVindr�vrs ears, aChec c.� k If Not Applicable Sign Original. . Signature of Owner or Owner's Agent Date This letter is not Intended to,nor ' does It In any way,Increase my - responsibilities as owner(or agent Name(Typed or Printed) IM wl owner)of the property to the _ I` 0 occupant,the U.S.Postal Service. Street Address City,Slate,ZIP+4 iT VT ober-1991 Postmaster F District F-1 Area { D � � y oC O1 u N o c YrG P. u Y; •"E L]uY U� tlY N �p fi 7 4 G Y DUI D m y D. C C Y DUu jo W h ul mY nx9 .] tl mr3 �cm!iqi D n d9 = aUtOD• 0. n Y H D O uN H '>n• D H � L Y K c o o A ♦y.-1 a .r c r n n a a,c Y D w Nk�suwq m as N K N aU Jl DA a.1 v NSU Y .71 O t d u H "D 4b ryie�ite a !A L o r1 p W 6 Y U y R4� 34{x�@+[ __ �G � ,. Mrlq 'm D D t U�Dti A y d 9 ASx qet E-td ` N r~D AYm fl � WmC dm MU ts Dqq9.^3 .#4 9 f r4 s h m N o.FI W'pD d 7 C E to H m L'mBL m N C Ca .. a EmD Y to 44 E�! 4"tr' yy }e a m D H a D .4 tl?s y CS Eq.aq m O HNgw ns.•DI � a9 U a4 PC pw t plu ry N nm1�m dl uy W �S1 "�RBa m m ~A wx HUC D q 47 U fdFYy P g L m n .b 7 ptl p� N N m~.a] �� `i��uuC 1amfryy1 Cl 4DG [L �ry HHU D o N acpi�U EUQW D Z .IW m O aesa Er ¢ L�} Z 6 Fa Mwi L m tl CIGRDO L 4mw DE K 4p1 Z F DDR Z �a�i .[y eA C C V o VYY ��m� �� auD x`77 qD p A .a N Ctl sfJr7Y6nYL u L^ W F�bC • ¢~ I[�+9j D 9WY� HW SSBU D DD LuW, aauo � n m i i 4 h i PURCHASE AND SALE AGREEMENT This Purchase and Sale Agreement (hereinafter "Agreement") is made and entered into as of the Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, of the Florida Statutes (hereinafter "PURCHASER") and BOYNTON BOUNDLESS PO, LLC (hereinafter "SELLER"). In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree as follows: 1. PURCHASE AND SALEIPROPERTY. SELLER agrees to sell and convey to PURCHASER and PURCHASER agrees to purchase and acquire from SELLER, on the terms and conditions hereinafter set forth, the Properties located in Palm Beach County, Florida (the "Properties") addressed at 217 N. Seaerest Boulevard and more particularly described as follows: SEE ATTACHED EXHIBIT"A" 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be One Million Six Hundred Thousand Dollars ($1,600,000.00), payable in cash, by wire transfer of United States Dollars at the Closing. 3. DEPOSIT. 3.1 Earnest Money Deposit. Within five (5) Business Days after the execution of the Purchase Agreement by both parties, PURCHASER shall deliver to Lewis, Longman & Walker, PA ("Escrow Agent") a deposit in the amount of Two Hundred Thousand Dollars ($200,000.00)(the "Deposit"). 3.2 Application/Disbursement of Deposit. The Deposit shall be applied and disbursed as follows: Providing this Agreement is not terminated by either party pursuant to the terms set forth herein, Fifty Thousand Dollars($100,000.00)shall be released to SELLER sixty(60)days from the Effective Date (hereinafter defined). The remaining Deposit shall be delivered to SELLER at Closing and the PURCHASER shall receive credit for the full Deposit($200,000.00)against the Purchase Price. If this Agreement is terminated during the Feasibility Period (hereinafter defined)for any reason, the Deposit shall be immediately refunded to the PURCHASER. If this Agreement is terminated due to a default, pursuant to Section 12, the Deposit shall be delivered to (or retained by, as PURCHASER's Initials- SELLER's Initi )0, 01225555.1 Purchase and Sale Agreement Page 2of15 applicable) the non-defaulting Party, and the non-defaulting Party shall have such additional rights, |fany, asare provided inSection l2. 3.3 PURCHASER and SELLER authorize Escrow Agent toreceive, deposit and hold funds in escrow and, subject to clearance, disburse them upon proper authorization and in accordance with Florida |avx and the terms of this Agreement. The parties agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to PURCHASER and SELLER, unless the misdelivery is due to Escrow Agent's vvi||fu| breach of this Agreement or gross negligence. |fEscrow Agent interpleads the subject matter ofthe escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable attorney's fees and costs tobepaid from the escrowed funds which are charged and awarded as court costs infavor pfthe prevailing party. All claims against Escrow Agent will bearbitrated, so long as Escrow Agent consents toarbitrate. 4. EFFECTIVE DATE. The effective date ofthis Purchase Agreement shall bethe date when the last one ofthe PURCHASER and SELLER has executed the Agreement. 5. CLOSING. The purchase and sale transaction contemplated herein shall close on or before February 28, 2023 (the "Closing"), unless extended by Paragraph 8.5 below orother provisions of this Agreement or by written agreement, signed by both parties, extending the Closing. 6. TITLE TO BE CONVEYED. At Closing, SELLER shall convey to PURCHASER, by Warranty Deed complying with the requirements of the Title Commitment(hereinafter defined), valid,good, marketable and insurable title|nfee simple tothe Property,free and clear ofany and all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions except only the following (collectively,the "Permitted Exceptions"): (a) general real estate taxes and special assessments for the year of Closing and subsequent years not yet due and payable; (b)covenants, conditions, easements, dedications, rights-of-way and matters of record included on the Title Commitment or shown onthe Survey (defined in Section 7), towhich PURCHASER fails to object, or which PURCHASER agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof. 7. FEASIBILITY PERIOD. The PURCHASER,and its designees shall have thirty(30) days from the Effective [}ate of this Agreement ("Feasibility Period"), at PURCHA5ER,s expense, to make inquiries to determine if the Property is suitable for its intended use and to enter upon the Property, at any time and from time to time with reasonable notice to SELLER and so long as said investigations do not result in a business interruption, to perform any and all physical tests, inspections, valuation appraisals and investigations of the Property, including but not limited to Phase | and Phase !| investigations, which PURCHASER may deem necessary. During this Feasibility Period, PURCHASER may elect, in PURCHASER~s sole and absolute discretion, to PURCHASER'sInitials: ' Initia \~ / Purchase and Sale Agreement Page 3 of 1S terminate this contract and receive back all deposits hereunder. If PURCHASER elects to terminate this Agreement in accordance with this Section, PURCHASER shall: (i) leave the Property in substantially the condition existing on the Effective Date, subject to such disturbance as was reasonably necessary or convenient in the testing and investigation of the Property; (ii)to the extent practicable, shall repair and restore any damage caused to the Property by PURCHASER's testing and investigation; and ('iii) release to SELLER, at no cost, all reports and other work generated as a result of the PURCHASER's testing and investigation. PURCHASER hereby agrees to indemnify and hold SELLER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to PURCHASER (including, without limitation, any construction liens resulting therefrom) or for damage to persons or property (subject to the limitation on practicability provided above) arising out of PURCHASER's investigation of the Property. However, PURCHASER's indemnification obligations shall not exceed its statutory limits as provided within Section 768.28, Florida Statutes, and PURCHASER does not waive its sovereign immunity rights. SELLER hereby agrees to indemnify and hold PURCHASER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to SELLER or for damage to persons or property (subject to the limitation on practicability provided above) arising out of PURCHASER's investigation of the Property. SELLERS' obligations under this Section shall survive the termination,expiration or Closing of this Agreement. 7.1 Title Review. Within twenty (20) days of the Effective Date, PURCHASER shall obtain, at the PURCHASER's expense, from a Title Company chosen by PURCHASER (hereinafter"Title Company"or"Closing Agent"), a Title Commitment covering the Property and proposing to insure PURCHASER in the amount of the Purchase Price subject only to the Permitted Exceptions,together with complete and legible copies of all instruments identified as conditions or exceptions in Schedule B of the Title Commitment. Any and all assessments, outstanding utility charges, liens and other matters not constituting Permitted Exceptions shall be paid by Seller prior to or at closing from Seller's proceeds. PURCHASER shall examine the Title Commitment and deliver written notice to SELLER no later than thirty(30)days after the Effective Date notifying SELLER of any objections PURCHASER has to the condition of title (hereinafter "Title Objections"). If PURCHASER fails to deliver the Title Objections to SELLER within the aforesaid review period,title shall be deemed accepted subject to the conditions set forth in the Title Commitment. If PURCHASER timely delivers the Title Objections, then SELLER shall have thirty (30) days to diligently and in good faith undertake all necessary activities to cure and remove the Title Objections (hereinafter "Cure Period"). In the event that SELLER is unable to cure and remove, or cause to be cured and removed,the Title Objections within the Cure Period, to the satisfaction of PURCHASER, then PURCHASER, in PURCHASER's sole and absolute discretion, shall have the option of (i) extending the Cure Period and the Closing for one additional thirty (30) day period, or (ii) accepting the title as it then is but using such portion of the Purchase Price as may be necessary to pay and satisfy any mortgages, outstanding utility r' PURCHASER's Initials SELLER's Initial� ,A,',� 01225555-1 v Purchase and Sale Agreement Page 4 of 15 charges, delinquent property taxes and/or code enforcement and contractors' liens or other recorded claims of lien upon the property, or (iii) canceling and terminating this Agreement, in which case, the Deposit shall be returned to PURCHASER and the Parties shall have no further obligations or liability hereunder, except for those expressly provided herein to survive termination of this Agreement. Prior to the Closing, PURCHASER shall have the right to cause the Title Company to issue an updated Title Commitment("Title Update")covering the Property. If any Title Update contains any conditions which did not appear in the Title Commitment, provided they are not as a result of the actions of the PURCHASER, and such items render title unmarketable, PURCHASER shall have the right to object to such new or different conditions in writing prior to Closing. All rights and objections of the Parties with respect to objections arising from the Title Update shall be the same as objections to items appearing in the Title Commitment, subject to the provisions of this Section. 7.2. Survey Review. PURCHASER, at PURCHASER's expense, shall obtain a current boundary survey (the "Survey") of the Property, indicating the number of acres comprising the Property to the nearest 1/100th of an acre. If the Survey discloses encroachments on the Property or that improvements located thereon encroach on setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement, or applicable governmental regulations, the same shall constitute a title defect and shall be governed by the provisions of Section 7.1 concerning title objections. 7.3 SELLER Deliveries. SELLER shall deliver to PURCHASER the following documents and instruments within ten (10) days of the Effective Date of this Agreement,except as specifically indicated: 7.3.1 Copies of any reports or studies (including engineering, environmental, soil borings, and other physical inspection reports), in SELLER's possession or control with respect to the physical condition or operation of the Property, if any. 7.3.2 Copies of all licenses,variances,waivers, permits(including but not limited to all surface water management permits, wetland resource permits, consumptive use permits and environmental resource permits, if any), authorizations, and approvals of any governmental or private authority having jurisdiction over the Property, or any portion thereof (the "Governmental Approvals"), which are material to the use or operation of the Property, if any. 7.3.3 Prior to the Closing Date, SELLER shall execute and deliver to PURCHASER any and all documents and instruments required by PURCHASER, in PURCHSER'S reasonable discretion, which: (i) effectuate the transfer to PURCHASER of those Governmental PURCHASER's Initials: SELLER's Initial ,t .� 01225555-1 6 ' ° Purchase and Sale Agreement Page 5 of 15 Approvals, or portions thereof which are applicable to the Property,that PURCHASER desires to have assigned to it, and/or (ii) allow the Property to be withdrawn from any Governmental Approvals. At the time of closing, there shall not be any and all violations of the Governmental Approvals (including, but not limited to, any and all portions of the surface water management system, mitigation areas or other items which do not comply with the Governmental Approvals or applicable rules, if any), that are caused by the actions of PURCHASER. SELLER warrants that there will not be, at the time of Closing, any unrecorded instruments affecting the title to the Property, including, but not limited to any conveyances, easements, licenses or leases. 8. CONDITIONS TO CLOSING. PURCHASER shall not be obligated to close on the purchase of the Property unless each of the following conditions (collectively,the "Conditions to Closing") are either fulfilled or waived by PURCHASER in writing: 8.1. Representations and Warranties. All of the representations and warranties of SELLER contained in this Agreement shall be true and correct in all material respects as of Closing. 8.2. Condition of Property. The physical condition of the Property shall be the same on the date of Closing as on the Effective Date, reasonable wear and tear excepted. 8.3. Pending Proceedings. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever, pending or threatened,which has not been disclosed, prior to closing,and accepted by PURCHASER. 8.4. Compliance with Laws and Reeulations. At the time of closing,there shall not be any and all violations of the Governmental Approvals (including, but not limited to, any and all portions of the surface water management system, mitigation areas or other items which do not comply with the Governmental Approvals or applicable rules, if any), that are caused by the actions of PURCHASER. 8.5. Occupancy. The property shall be conveyed to the PURCHASER at time of closing unoccupied. SELLER shall take all reasonable actions to ensure all tenant agreements have been terminated by the Closing Date. 9. CLOSING DOCUMENTS. The PURCHASER shall prepare, or cause to be prepared, the Closing Documents set forth in this Section, except for documents prepared by the SELLER'S Title Company. At Closing, SELLER shall execute and deliver, or cause to be executed and delivered to PURCHASER the following documents and instruments: 9.1.. Deed. A Warranty Deed (the "Deed") conveying to PURCHASER valid, good, marketable and insurable fee simple title to the Property free and clear of all liens, PURCHASER's Initials SELLER's Initial, 01225555-i Purchase and Sale Agreement Page 6of15 encumbrances and other conditions mftitle other than the Permitted Exceptions. 9.2 SELLER shall furnish toPURCHASER anowner's affidavit attesting that, to the best of its knowledge, no individual or entity has any c|eirn against the Property under the applicable construction lien law; and that there are no parties in possession of the Property other than SELLER. SELLER shall also furnish to PURCHASER a non-foreign affidavit with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced above,the same shall bedeemed anuncured title objection. 9.3. Closina Statement, Aclosing statement setting forth the Purchase Price, the Deposit, all credits, adjustments and pnorat|onsbetvveen PURCHASER and SELLER, all costs and expenses to be paid at Closing, and the net proceeds due SELLER, which PURCHASER shall also execute and deliver atClosing. 9.4. Corrective Documents. Documentation required to clear title to the Property of all liens, encumbrances and exceptions, if any,other than Permitted Exceptions. 9.5. Additional Documents. Such other documents asPURCHASER orthe Title Company may reasonably request that SELLER execute and deliver, and any other documents required by this Agreement or reasonably necessary in order to close this transaction and effectuate the terms ofthis Agreement. 10. PRORATIONS, CLOSING COSTS AND CLOSING PROCEDURES. 10.1. Prorations. Assessments, rents, interest, insurance and other expenses of the Property shall beprorated through the day before Closing. PURCHASER shall have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash atClosing shall beincreased ordecreased asmay berequired bypnoradonstobe made through the day prior to Closing. Advance rent and security deposits, if any,will be credited to PURCHASER. Tames shall be prorated based upon the current year's tax with due allowance made for maximum allowable discount. 10.2 Ad Valorem Taxes. PURCHASER and SELLER shall comply with Section 196.295, Florida Statutes,with respect to the payment of prorated ad valorem taxes for the year of closing into escrow with the Palm Beach County Tax Collector's CIffice. in the event that,following the Closing,the actual amount of assessed real property tax on the Property for the current year is higher than any estimate mfsuch tax used for purposes ofthe Closing,the parties shall re-prorate any amounts paid or credited based on such estimate as if paid in November. This shall survive the Closing. 10.3. Special Assessment Liens. Certified, confirmed and ratified special PUR[HASER's lnitiaWT SELLER,s |niti�� Purchase and Sale Agreement Page 7of15 assessment liens Imposed by public bodies as of Closing are to be paid by SELLER. Pending liens as of Closing shall he assumed by PURCHASER. if the improvement has been substantially completed asofthe Effective Date, any pending lien shall beconsidered certified, confirmed or ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or assessment for the improvement bythe public body. 10.4. Qo Costs. PURCHASER shall baresponsible for recording the deed and half of all general closing expenses(settlement fee,courier fees,overnight package, etc.). SELLER is responsible for documentary stamps on the deed and half of all general closing expenses and their own legal fees. All other costs of closing shall be borne by SELLER. PURCHASER, having chosen the Title Company and Closing Agent, shall be responsible for all costs and expenses of the Title Company and Closing Agent, including but not limited to the title insurance premium. 10.5 Closing Procedure. PURCHASER shall fund the Purchase Price subject to the credits, offsets and pnmrat}nnsset forth herein. SELLER and PURCHASER /as applicable) shall execute and deliver toClosing Agent the Closing Documents. The Closing Agent shall,atClosing: (i) disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marked-up" Title Commitment to PURCHASER, and promptly thereafter, record the Deed and other recordable Closing Documents|nthe appropriate public records. 10.6 Existing,Mortgages and Other Liens. At Closing, SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments applicable toand encumbering the Property. 11. REPRESENTATIONS, COVENANTS AND WARRANTIES. To induce PURCHASER to enter into this Agreement, SELLER makes the following representations, all of which,to the best of its knowledge, in all material respects and except as otherwise provided in this Agreement (i) are now true, and(ii)shall hetrue asufthe date ofthe Closing unless SELLER receives information to the contrary, and (|i|) shall survive the Closing. In that event, PURCHASER shall be provided immediate notice astothe change tothe following representations: 11.1 At all times from the Effective Date until prior to Closing, SELLER shall keep the Property (whether before or after the date of Closing) free and dear of any mechanic's or materialmen's liens for work or materials furnished to or contracted for, by or on behalf of SELLER prior to the Closing, and SELLER shall indemnify, defend and hold PURCHASER harmless from and against all expense and liability in connection therewith AndudinQ, without limitation, court costs and reasonable attorney's fees\. 11.3 SELLER has noactual knowledge nor has SELLER received any notice ofany litigation, claim, action nrproceeding, actual mrthreatened, mgainstSELLERorthePnmpertybyany organization, person, individual or governmental agency which would affect (as to any threatened ' , PURCHASER.sInitials: SELLER's lnitialv4 Purchase and Sale Agreement Page 8nf15 litigation, claim, action or proceeding, in a materially adverse fashion)the use, occupancy or value of the Property or any part thereof or which would otherwise relate to the Property. 11.3 SELLER has full power and authority to enter into this Agreement and to assume and perform its obligations hereunder inthis Agreement. SELLER does not and will not conflict with or result in the breach of any condition or provision, or constitute a default under, or result in the creation or imposition of any lien,charge,or encumbrance upon any of the Property or assets of the SELLER by reason of the terms of any contract, mortgage, lien, lease, agreement, indenture, instrument or judgment to which the SELLER is a party of which is or purports to be binding upon the SELLER or which affects the SELLER; no action by any federal,state or municipal or other governmental department, commission, board, bureau or instrumentality is necessary to make this Agreement a valid instrument binding upon the SELLER In accordance with its terms. 11.4 SELLER represents that SELLER will not, between the date ofthis Agreement and the Closing, without PURCHASER'S prior written consent which consent shall not be unreasonably withheld or delayed, except in the ordinary course of business, create any encumbrances mnthe Property, For purposes ofthis provision the term''enoumnbrances"shall mean any mortgages,liens,claims,options,orother encumbrances,encroachments,MQhts-mf-vxay,leases, easements, covenants, conditions or restrictions. SELLER expressly agrees not to refinance the Property. 11.5 SELLER shall perform all of its obligations under the terms of any existing leases with tenants mnthe Property upuntil Closing Date and/or lease termination. 11.6 SELLER shall not list or offer the Property for sale or solicit or negotiate offers topurchase the Property while this Agreement isineffect. 11.7 SELLER shall use Its best efforts to maintain the Property in its present condition so as to ensure that it shall remain substantially in the same condition from the conclusion ofthe Feasibility Period 10the Closing Date. 12.8 SELLER has noactual knowledge nor has SELLER received any notice ofany litigation, da|rn' action or proceeding, actual or threatened, against SELLER or the Property by any organization, person, individual or governmental agency which xvmu|d affect (as to any threatened litigation, claim, action or proceeding, in a materially adverse fashion) the use, occupancy mrvalue of the Property orany part thereof nrwhich would otherwise relate to the Property. 11.9 SELLER represents that |thas nmactual knowledge nor has |treceived any notice that the Property has been, is presently or is contemplated to be utilized as a reservoir of hazardous material. As used herein, the term "Hazardous Material" shall mean any substance, / PURCHASER.sInitials: Initia 01225555-1 / Y1� Purchase and Sale Agreement Page 9mf15 water or material which has been determined by any state,federal or local government authority to be capable of posing a risk ofinjury tm health, safety and property, including, but not limited to, all of those materials, wastes and substances designated as hazardous or toxic by the U.S. Environmental Protection Agency, the U.S. Department of Labor, the U.S. Department of Transportation, and/or any other state or local governrnental agency now or hereafter authorized to regulate materials and substances in the environment(collectively "Governmental Authorhy(les)"). 11.10 SELLER represents tmPURCHASER that the Property |snot subject toany deed restrictions ordeclaration of restrictions running with the Property which would affect the use mfthe Property except those constituting Permitted Exceptions amdefined above. 11.11 Between the date ofthis Agreement and the date ofclosing, SELLER will not file any application for achange ofthe present zoning classification ofthe Property. 11.12 Ay1hority. The execution and delivery ofthis Agreement bySELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding onSELLER imaccordance with its terms. The person executing this Agreement onbehalf pfSELLER has been duly authorized toact onbehalf ofand tobind SELLER, and this Agreement represents avalid and binding obligation ofSELLER. 11.13 TlLig. SELLER |oand will baonthe Closing Date, the owner ofvalid, good, marketable and insurable fee simple title to the Property, free and clear of all liens, encumbrances and restrictions of any kind,except the Permitted Exceptions (and encumbrances of record which will be discharged at Closing). 11'14 Additional Warranties and Revresentations of SELLER. As a material inducement to PURCHASER entering into this Agreement, SELLER, to the best of SELLER'S information and belief, hereby represents and warrants the following: 11.14.1 There are no pending applications, permits, petitions, contracts, approvals,or other proceedings with any governmental or quasi-governmental authority,including but not limited to, PURCHASER, municipalities, counties, districts, utilities, and/or federal or state agencies, concerning the use or operation of, ortitle tothe Property or any portion thereof and SELLER has not granted or is not obligated to grant any interest in the Property to any of the foregoing entities. 11.14.2 There are no farts believed by SELLER to be material to the use, condition and operation of the Property in the manner that it has been used or operated, which it has not disclosed to PURCHASER herein, including but not limited to unrecorded instruments or � PURCHASER.aInitials: Purchase and Sale Agreement Page 1Oof15 defects in the condition of the Property which will impair the use or operation of the Property in any manner. 11.14.3 Tothe best mfSELLER'S knowledge, the Property and the use and operation thereof are in compliance with all applicable county and governmental laws,ordinances, regulations, licenses, permits and authorizations, including, without limitation, applicable zoning and environmental laws and regulations. � 11.15 : Anything herein to the contrary notwithstanding, the warranties and representations of SELLER shall survive the Closing for a period of one (1) year. This one (1) year period of survival shall apply to any and vvaU warranties and representations of the SELLER made herein, regardless of wherein set forth in this Agreement, such as, byway ofexample,Section 1G. 12. 12.1. In the event that this transaction fails to close due to a wrongful refusal to close or default on the part of PURCHASER, subject to the provisions of Paragraph 12.3below,the Deposit actually then being held bythe Escrow Agent shall bepaid by Escrow Agent toSELLER as agreed liquidated damages and, thereafter, neither PURCHASER nor SELLER shall have any further obligation or liabilities under this Agreement, except for those expressly provided to survive the termination of this Agreement; provided, however, that PURCHASER shall also be responsible for the removal of any liens asserted against the Property by persons claiming by, through or under PURCHASER, but not otherwise. PURCHASER and SELLER acknowledge that if PURCHASER defaults,SELLER will suffer damages in an amount which cannot be ascertained with reasonable certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent most closely approximates the amount necessary to compensate SELLER. PURCHASER and SELLER agree that this |sabona fide liquidated damages provision and not apenalty orforfeiture provision. 12.2. In the event that SELLER shall fail to fully and timely perform any of its obligations or covenants hereunder or if any of SELLER'S representations are untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement, PURCHASER may, at its option: (1) declare SELLER in default under this Agreement bynotice delivered to SELLER, in which event PURCHASER may terminate this Agreement and demand that the Deposit be returned, including all interest thereon if any, in accordance with Section 3 and neither Party shall have any further rights hereunder, or (2) seek specific performance of this Agreement, without waiving any action for damages. 13.3. Notice of Default. Prior todeclaring adefault and exercising the remedies described herein, the non-defaulting Party shall issue a notice ofdefault tPthe defaulting Party PURCHA6ER'o |ni *' SELLER's |ni 01225555-1 - Purchase and Sale Agreement Page 11mf15 describing the event or condition of default in sufficient detail to enable a reasonable person to determine the action necessary tocure the default. The defaulting Party shall have fifteen (15) days from delivery ofthe notice during which tocure the default, provided, however,that asto a failure to close,the cure period shall only be three(3) business days from the delivery of notice. Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld. If the default has not been cured within the aforesaid period,the non-defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions ofthis section shall survive the termination ofthis Agreement. 13. NOTICES. All notices required in this Agreement must be in writing and shall be considered delivered when received by certified mail, return receipt requested, or personal delivery tmthe following addresses: |ftoSeller: Michael S. Weiner Boynton Boundless PO, LLC GG7@Grande Orchid Way Delray Beach, FL33446 |ftoPurchaser: Michael Simon, Executive Director Boynton Beach Community Redevelopment Agency 71DN. Federal Highway Boynton Beach, FL33435 With acopy to: Kenneth Dodge Lewis, Longman &VVa|her, PA 515North F|ag|erDrive Suite 1500 West Palm Beach, FL334O1 14. BINDING OBLIGATIONZASSIGNMENT. The terms and conditions ofthis Agreement are hereby made binding on, and shall inure to the benefit of the successors and permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement without the prior written consent mfPURCHASER, which shall not be unreasonably withheld. PURCHASER shall have the right to assign this Agreement to the City of Boynton Beach (the "City") without the prior consent of SELLER and the PURCHASER shall be released from any further obligations and liabilities under this Agreement. The PURCHASER may not assign this Agreement to any other party without the prior written approval of SELLER,which shall not unreasonably withheld. If PURCHASER has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are in effect, the provisions of section 163.357(l), Florida Statutes' (as it may he . PURCHASEA's |nit) | SEL0ER's |nit|aWs: Purchase and Sale Agreement Page 12of15 amended from time todrne\, shall apply. 15. BROKER FEES. The SELLER and PURCHASER hereby state that they have not dealt with a real estate broker in connection with the transaction contemplated by this Agreement and are not liable for a sales commission. SELLER shall indemnify, defend and hold harmless the PURCHASER from and against any and all claims, losses, damages, costs or expenses (including, without limitation, attorney's fees) of any kind or character arising out of or resulting from any agreement, arrangement orunderstanding alleged to have been made by SELLER on its behalf with any broker orfinder inconnection with this Agreement. The provisions ofthis Section shall survive Closing ortermination ofthis Agreement. 1G. ENVIRONMENTAL CONDITIONS. 16.1. For purposes of this Agreement, pollutant ("Pollutant") shall mean any hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant, petroleum, petroleum product or petroleum by-product as defined or regulated by environmental laws. Disposal ("Disposal") shall mean the release, storage, use, handling, discharge, or disposal of such Pollutants. Environmental laws ("Environmental Laws") shall mean any applicable federal, state,or local laws,statutes, ordinances, rules, regulations or other governmental restrictions. 16.1.I As a material inducement to PURCHASER entering into this Agreement, SELLER hereby warrants and represents the following,as applicable: (1) That SELLER and occupants ofthe Property have obtained and are in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or contiguous property owned bySELLER,tmthe best ofSELLER'S knowledge. (2) SELLER|snot aware nor does ithave any notice ofany past, present or future events, conditions, activities or practices which may give rise to any liability orform a basis for any claim,demand,cost or action relatingto the Disposal of any Pollutant on the Property. SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices on contiguous property that is owned by SELLER which may give rise to any liability orform a basis for any claim,demand,cost or action relatingto the Disposal mfany Pollutant affecting the SELLER'S property. /3\ There is no civil, criminal or administrative motion, suit, claim, demand, investigation or notice of violation pending or, to the best of that entity's knowledge, threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the Property,any portion thereof,oronany contiguous property owned bySELLER. ' PURCHASER,s Initials:, SELLER.s |nN b Purchase and Sale Agreement Page 13of15 17. PUBLIC RECORDS. PURCHASER is public agency subject toChapter 119, Florida Statutes. The SELLER is hereby notified thatthe PURCHASER is required by law,pursuant to Chapter 119, to maintain and disclose upon request all records deemed public under the statute including this Agreement and some or all of the documents necessary to consummate the transaction set forth herein. To the extent that any litigation should be instituted by SELLER, either directly or as a third party,to prevent or prohibit PURCHASER from disclosing or providing documents involving this Agreement or the transaction set forth in the Agreement pursuant to a public records request submitted under Chapter 119, SELLER agrees that PURCHASER may either: 1) defend the claim up toand including final judgment,or 2)interplead the challenged documents into the court. In either event, SELLER agrees to pay PURCHASER'a reasonable attorneys' fees and costs, both trial and appellate. 18' 10.1. General, This Agreement, and any amendment hereto, may beexecuted in any number of counterparts, each of which shall be deemed to be an original and all of which shall, together, constitute one and the same instrument. The section and paragraph headings herein contained are for the purposes of identification only and shall not be considered in construing this Agreement. Reference to a Section shall be deemed to be g reference to the entire Section, unless otherwise specified. No modification or amendment of this Agreement shall bemfany force oreffect unless inwriting executed bythe Parties. This Agreement sets forth the entire agreement between the Parties relating to the Property and all subject matter herein and supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral,between the Parties. This Agreement shall be interpreted in accordance with the laws oYthe State ofFlorida. The Parties hereby agree that jurisdiction ofany litigation brought arising out of this Agreement shall be in the Fifteenth Judicial Circuit, in and for pa|rn Beach County,Florida,or,should any cause of action be limited to federal jurisdiction only,in the United States District Court for the Southern District of Florida. 18.2. Computation of Time. Any reference herein to time periods which any not measured in business days and which are less than six(6) days, shall exclude Saturdays, Sundays and |e0o| holidays in the computation thereof. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend tV5:0D p.m. on the next full business day. Time isofthe essence|nthe performance ofall obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the calculation thereof. 18.3. Waiver. Neither the failure ofaparty tninsist upon astrict performance of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance of any item by a party with knowledge of a breach of this Agreement by the other party in the performance of their respective obligations hereunder, shall be deemed a waiver of any rights or remedies that a party may have or a waiver of any subsequent breach or default in PUR[HASER's Initial SELLER's }nitka,s Purchase and Sale Agreement Page 14of15 any of such terms, provisions,covenants, agreements or conditions. This paragraph shall survive termination ofthis Agreement and the Closing. 18.4. Construction ofAgreement. The Parties to this Agreement, through counsel, have participated freely in the negotiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the Parties. As used in this Agreement,or any amendment hereto,the masculine shall include the feminine, the singular shall include the plural, and the plural shall include the singular, as the context may require. Provisions of this Agreement that expressly provide that they survive the Closing shall not merge into the Deed. 18.5. |fany provision ofthis Agreement orthe application thereof shall,for any reason and to any extent,be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons,entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law.The provisions ofthis Section shall apply toany amendment mfthis Agreement. 18.6 Handwritten Provisions. Handwritten provisions inserted\nthis Agreement and initialed byPURCHASER and SELLER shall control all printed provisions inconflict therewith. 18.7 . Asaninducement toPURCHASER agreeing toenter into this Agreement, PURCHASER and SELLER hereby waive trial by jury in any action or proceeding brought 6veither party against the other party pertaining toany matter whatsoever arising out of or|nany way connected with this Agreement. 18.8. . Should it be necessary to bring an action to enforce any ofthe provisions ofthis Agreement, reasonable attorneys' fees and costs, including those atthe appellate level, shall beawarded tothe prevailing party. 18.9 BindingAuthprit 1. Each party hereby represents and warrants tothe other that each person executing this Agreement on behalf of the PURCHASER and SELLER has full right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 18.10 Recordin . This Agreement may not berecorded inthe Public Records of Palm Beach County, Florida without the prior approval of both parties. 18.11 Survival. The covenants, warranties, representations, indemnities and undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and recording mfthe SELLER'S Property Deed and PURCHASER,spossession ofthe Property subject to Section 11.15. PUM[HASER'sInitials: SELLER's |nitiaJ�� Purchase and Sale Agreement Page 15 of 15 18.12 SELLER Attorneys' Fees and Costs. SELLER acknowledges and agrees that SELLER shall be responsible for its own attorneys' fees and all costs, if any, incurred by SELLER in connection with the transaction contemplated by this Agreement. IN WITNESS WHEREOF,the Parties have executed this Agreement as of the Effective date. PURCHASER: SELLER: BOYNTON BEACH COMMUNITY BOYNTON BOUNDLESS PO, LLC REDS L P T A Ir Printed Name: Steven B. Grant Printed Name Title: Chair Title: $. < V, f R Date: @ bate: l ` WITNESS: ' , WITNESS: Printed Name: tC K1tcY—L4Q\) Printed Name: s f K ECO NT ��__ Lewis, Longman &Walker, P.A. Printed Name: Date: I PURCHASER's Initials: SELLER's Initial � 01225555-1 EXHIBIT A LEGAL DESCRIPTION 217 N. 5eacrest Blvd. Boynton Beach, FL 33435 Parcel Identification Number: 08-43-45-28-10-004-0090 Lots 9, 10, 11 and 12, Block 4, Boynton Heights Addition to Town of Boynton Beach, according to the Plat thereof, recorded in Plat Book 10, Page 64, of the Public Records of Palm Beach County, Florida. Less Portion of Land described as a strip of land over, through and across the following: Lots 9, 10 and 11 and the West 16.01 feet of Lot 12, all in Block 4, according to the revised plat of Boynton Heights, as recorded in Plat Book 10, Page 64, in the Public Records of Palm Beach County, Florida, in Section 28, Township 45 South, Range 43 East, said strip when measured along a line 16.01 feet east of and parallel to the west line of said Lot 12, being the Northerly 12 feet; and less the north 12 feet of the east 8.99 feet of said Lot 12. Together with: Lots 13, 14, 15, 16, Block 4, revised Plat of Boynton Heights, addition to the Town of Boynton Beach, Florida, according to the Plat thereof recorded in the Office of the Clerk of the Circuit Court in and for Palm Beach County, Florida, in Plat Book 10, Page 64. Subject to 3' easement across rear of lots as in Plat Book 10, Page 64, Palm Beach County Records. Together with: Lots 17, 18, 19, 20, 21 and the north 18 feet of Lot 22, Block 4, revised Plat of Boynton Heights, addition to the Town of Boynton Beach, Florida, according to the Plat thereof recorded in the Office of the Clerk of the Circuit Court in and for Palm Beach County, Florida, in Plat Book 10, Page 64. Less portion of land described as the east 10 feet of Lot 17 and less the north 12 feet of Lots 18, 19, 20, 21 and the north 18 feet of Lot 22 all in said Block 4, and that part of said Lots 17 and 18 which is tangent to a line 12 feet south of and parallel to the north line of said Lot 17 as deeded to the State of Florida. From: Hancock Richard A-Greensboro NC To: Shutt.Thuv Cc: Tack.Timothy; Utterback.Theresa; "mweinerC@ssclawfirm.com"; Ken Dodge(kdodgeCa)Ilw-law.com);"Kathryn Rossmell";Curfman,Vicki; Nicklien,Bonnie; Hill,Vicki Subject: RE: [EXTERNAL]RE: Boynton Beach, FL Downtown Station New Space Project Date: Tuesday,April 26,2022 1:39:15 PM Attachments: im2ge001.gng im2ge002.gng im2ge003.gng im2ge004.gng im2ge005.gng im2ge006.gng Hi Thuy, Good afternoon, thank you for taking the time to assist us with our search for a new Post Office location. I look forward to speaking with the Board. Per our discussion I do not have any documentation to present at this time. Please contact me with any questions or if you need additional information. Thank you, Rick Richard Hancock Real Estate Specialist USPS Facilities PO Box 27497 Greensboro, NC 27498-1103 336-665-2848 336-324-7891 (Cell) rich a rd.a.ha ncocULusps..gov From: Shutt,Thuy<ShuttT@bbfl.us> Sent:Tuesday, April 19, 2022 3:41 PM To: Hancock, Richard A-Greensboro, NC<Richard.A.Hancock2@usps.gov> Cc:Tack,Timothy<TackT@bbfl.us>; Utterback,Theresa <UtterbackT@bbfl.us>; 'mweiner@ssclawfirm.com' <mweiner@ssclawfirm.com>; Ken Dodge (kdodge@llw-law.com) <kdodge@llw-law.com>; 'Kathryn Rossmell' <krossmell@llw-law.com>; Curfman, Vicki <CurfmanV@bbfl.us>; Nicklien, Bonnie <NicklienB@bbfl.us>; Hill, Vicki <HiIIV@bbfl.us> Subject: [EXTERNAL] RE: Boynton Beach, FL Downtown Station New Space Project AuIIOIH. This email originated from outside USPS. STOP and CONSIDER before responding, clicking on links, or opening attachments. Good afternoon, Rick, Per our telephone conversation today, we will be scheduling you to speak to the Board at their May 10, 2022 CRA Board meeting. The meeting starts at 5:30 pm (EST).The purpose of the meeting will be an introduction or 'Meet and Greet' with the USPS since the CRA cannot take any action at this time. I am copying Mr. Michael Weiner, the current property owner, and our attorney so they are in the loop. I understand you would like to participate virtually so we will follow up with a link and registration information once the agenda packet is published (around May 4th) If you have any supportive documents you would like for us to upload on the screen for the meeting, please forward those by noon (EST) on April 26, 2022. Vicki Curfman who is cc: on this email will be your contact for the registration link and meeting logistics.Thank you. Respectfully, Thu,, `;haft, AIA, FRA-RA iExecutive Director inti.) E. Ocean Ave. ��o;'1Lo rl Beach, Florida 33435Ae. t-1 `h-x-tT,Cw bb �r http:( www.boyntonbeachcra.com 18 America's Gateway to the Gulfstream : G);r - b S d ,`la � t t'da Ina, a �t�t ai; a>u�% .t"" records t i,.> iU a� ar 1i; c. t"t 1 t�.>p1t r 1i,�r 1t".2 ,..t -:':.2 via e-:'•.ci , u., :.� ui�v,.; i� rte,-, : :c. �".}� .;l..i'�'��t-�Lt i, ,t.�.iC.;�,t�.4..J`li,e! t 1� i,a t��t t t�i;`> u�a�, ei� ci„ c'i,i,t�>`>e; are a>>�..,� .t""., re-ort i,>, r There fore, r't e a..I Ct U u,..,t i; r't e- a,,a �:,:; a,. u . e".:. ,...; 1u „`>t .,..,are. From: Hancock, Richard A-Greensboro, NC<Richard.A.Hancocl<2Lus s. ov> Sent: Monday, April 11, 2022 10:35 AM To: Shutt,Thuy<ShuttT bbfl.us> Cc:Tack,Timothy<Tacl<F @bbfl.us>; Utterback,Theresa <Utterbacl Subject: RE: Boynton Beach, FL Downtown Station New Space Project Ms.Thuy, Good morning, per our discussion I would like to present to the Board a proposal to lease the current Downtown facility.This will allow time for the Postal Service to find a new long term location after they purchase the property. We are proposing a one year lease with a 90 early termination clause at Fair Market rent which would be mutually determined. In addition we would like to propose a potential new construction leased retail facility to be completed on the property you own at 409-411 E. Boynton Beach Blvd. Please let me know when I may discuss the proposals with the Board for their feedback and to answer any questions they may have. Additional information will be provided as the new space project moves forward.Thank you for your time and consideration. Sincerely, Rick Richard Hancock Real Estate Specialist USPS Facilities PO Box 27497 Greensboro, NC 27498-1103 336-665-2848 336-324-7891 (Cell) rich a rd.a.hancocl<2@usps. ov From: Hancock Richard A-Greensboro NC To: Penseraa,Tv Cc: Mack.Andrew;Shutt.Thuv Subject: Re: Boynton Beach,FL USPS New Space Project Date: Monday,April 11,2022 10:21:53 AM Mayor Penserga, Good morning, I hope this email finds you well. I am the Real Estate Specialist tasked with the relocation of the Boynton Beach Downtown Station facility. We have been in contact with Mr. Mack and Ms. Shutt regarding this project and would like to discuss the status and process of the new space project with you at your convenience. I look forward to speaking with you. Thank you, Rick Richard Hancock Real Estate Specialist USPS Facilities PO Box 27497 Greensboro, NC 27498-1103 336-665-2848 336-324-7891 (Cell) rich a rd.a.ha ncock2Lusps..g,ov BOYNTO C D m'm,BEACH :: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 NEW BUSINESS AGENDAITEM: 14.D. SUBJECT: Presentation by Palm Beach County Housing Authority on the Properties within the CRA District SUMMARY: On November 30, 2021, the CRA Board voted unanimously to send a letter to the Palm Beach County Housing Authority (PBCHA) expressing concerns regarding the auction results and requesting that funds from the PBCHA Cherry Hill Residential Lots Auction be dedicated to affordable housing in the Boynton Beach Community Redevelopment Agency (BBC RA)Area (see Attachment 1). At the March 9, 2022 CRA Board meeting, the Board asked CRA staff to invite a representative from the PBCHA to give an update on current PBCHA-owned properties and PBCHA future development plans for those properties within the CRA area. Since the March 9th meeting, staff was able to get the results of the PBCHA Cherry Hill Residential Lots Auction held on February 15, 2022 (see Attachment 11). Staff received a response from Ms. Carol Gilbert-Jones, PBCHA Executive Director, on April 7, 2022, indicating that she would like to be placed on the May 10th CRA Agenda (see Attachment III). FISCAL IMPACT: Not applicable CRA P LAN/P ROJ ECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: No action required at this time unless otherwise determined by the Board ATTACHMENTS: Description Attachment I - BBCRA Letter to PBCHA Requesting Dedication of Auction Funds to Affordable Housing in BBC RAArea D Attachment II -2-15-22 PBCHA Cherry Hill Lots Buyers List D Attachment III - PBCHA Request to be on May 10, 2022 CRA Agenda 100 E.Ocean Avenue,4th Floor ,�r ,7;�,r BOYNTON BEACH, FL 33435 PH: 561-737-3256 BOYNI BEAC � ��, I. ��,,t� � FAX: 561-737-3258 E�t_r �2�312___ �ii�S,,3��11�Si ___S� 1111. I?�1��2Z�ZZZZ2�22?1l.ll�9t�� s�l� ;;;�;;t�3��ll�ftt��f��ff�€�f€�fh# sssss�}}}k sssssssss',�.iiiiii((i�(1(I�I�I�i?}}��21�}}}1��}f�111 ��5?S?`S`SS��SS4111��`��,,.2�}t�lllllltt��l�tl�lttl�rlr, 17t1!?�J(�L11(�t1�11tL.'11t�1?�14L �. << �r,�. February 1, 2022 Paul Dumars,Jr. Chairman, Board of Commissioners The Palm Beach County Housing Authority 3432 West 45th Street West Palm Beach, FL 33407 Dear Mr. Dumars, This letter is written on behalf of the Boynton Beach Community Redevelopment Agency (BBCRA). As you are aware, the Palm Beach County Housing Authority (PBCHA) recently held a public auction and sold multiple lots within the Cherry Hill neighborhood of Boynton Beach. Over the many years PBCHA owned the lots, the BBCRA made repeated offers and requests to have these lots developed as affordable housing.The BBCRA also attempted to purchase many of the lots at the recent auction; however, it was only able to secure one property. The remainder of the properties were sold at a price that will prohibit their use as affordable housing unless significant additional public subsidies are provided. Given the mutual goals of the BBCRA and the PBCHA to provide affordable housing,this letter is to formally request the PBCHA dedicate the funds received from the recent sale of the various Cherry Hill properties to providing affordable housing within the BBCRA Area. The BBCRA would welcome the opportunity to partner with you to provide affordable housing in Boynton Beach, as has long been envisioned by both the BBCRA and the PBCHA. Please direct any questions or opportunities to partner with Thuy Shutt,the Executive Director. Sincerely, even B. Grant, Board Chair odrow Hay, and°Vice Chair usti Christina Ro us, Board Member Ty P From: Andre LaBauve To: Utterback,Theresa Cc: Shutt.Thuv Subject: RE: PBCHA Cherry Hill Lots Auction-2/15/22 Date: Wednesday,April 27,2022 2:25:04 PM Attachments: imaaeOOl.ona imaaeOO2.ona imaaeO03.ona imaaeO04.ona imaaeO05.ona imaaeO06.ona imaaeO07.ona Hi Theresa, Sorry, I didn't realize that we had provided the information last time. See below; 502-508 NW 13th Ave $128,700 Freedom Projects LLC 507-509 NW 12th Ave $133,100 Henderson Metellus, Serge Vilvar and Anonce Nerestant 515 NW 12th Ave $107,800 Henderson Metellus, Serge Vilvar and Anonce Nerestant 532 NW 12th Ave $97,900 TNR Global LLC 534 NW 12th Ave $92,400 TNR Global LLC 536 NW 12th Ave $91,300 TNR Global LLC Best regards, Andre LaBauve, CFO Fisher Auction Company From: Utterback,Theresa <UtterbackT@bbfl.us> Sent: Wednesday,April 27, 2022 2:18 PM To:Andre LaBauve <andre@fisherauction.com> Cc: Shutt,Thuy<ShuttT@bbfl.us> Subject: RE: PBCHA Cherry Hill Lots Auction - 2/15/22 Hi Andre, No worries, I am just requesting what your firm provided us from the Auction in September, see attached. —r- ,t,,:, lJ..erl-:,c x,.sy 1 ,..s 1 Bead 1 l.e .• 1 y e..d .,..s i.l i.. s.. ��t. 1 1 tj:e' ,fi y'1 ..i i�l „x ..l��i�l� '�:� ,.1 .,4._,..., h.h0-gr tt94 Utterback, Theresa From: Fisher Auction <info@fisherauction.com> Sent: Thursday, February 3, 2022 10:13 AM To: Utterback, Theresa Subject: By Order of Palm Beach County Housing Authority 6 Residential Lots 1 Qt; S s ,s+St £££`?�£,s 1 s _rss rss} 4i` aJm 6'' �" t i� £r !i t ., ' } ,�i r, 'V}*ilfl it) '4i Al All 4 ' - �� is Yi s tSu }'>ISS tib1i;;4 S"� t �} r i fl H�"' t £ 4 1 ASK r 3 , iii t n � i tib sa, ;{ } t Vfin £ } 1 Mail a iq stt s� rc 9h�t '" ��' 3�{"j� 4 � �+�r; i 11 £'`�'` �r r, e) 4t £ } c t }#f \s y }`` �p i», r ry � syyIr s+q a, 'ts t �A`a` �;£s rv�# �` £�}}s S�f }i £�,h',; t Vii£ r ''�}t'{4i. - t� 1 ss 1 »}r�it2rr I(it }�•� � all et', ! r { ( ) � �i { £ 4s��stsri\7rt�r �t' rsU szlis£1 }` � s�� `' � tf.5'�£ i £ s;� i £ ££}�s4a �,..1yi psi ij �` '� S££�f t th s A £ trit fs �� f 1 5 �i s. isit ts£tssl i i `£ { \ s,, f i 111111 1. ' � }� �l t � r S� k ,'t �1ss�S1514- st i'"," -: 1w. £t11si�_s Ast� t. �"`•s }�„ s 'ii t� £ ts- 1£ � v�r��„�-,, �2.'�,& ))1) �r tS�f {Ys£_ ��{ily�if j r li,`'-, £1 ,�tf V'}\ � 4 � Is r 2 x' st t �a -y�?•' 1 i +&usi i t s £�t ^t(=� _ _��m �€ti 1 �� t \�F a r� fist��i�v�stt}�t t .r t 111x111 s {s sirs r er tsrsl it£ tI ,�,•: fVt qtr u1i } )� ( 1 i s r a �;, l �4 yd '`'-s .l t £j �y' �., { Vv �t� s i£f ik.si ir�Jj}{�ry�rt' s - Ll £ '•s r - ftci�q'!} �� q 1111r 't a £t£ Y v? s}l�l, .� I� £ �i(SS } 1# � , r1 £t £ a£ Sr t-it t((S £ �}si s ts£ ti'7 e ) �ti k„ �_ f ;,tk?1 l�,li � £ t£} t �n i. ,��c.�i�r,�k�sj�rs£,�sJ'`7�j I-0' s..o,. �ystii y}ii N� ��i112}�'r t71\i }s (rr tr,ti r}37}1r 1f�1�1 Y!{airy;: t (ril, 2 i ".V�".—.._�"wv'M-'...�—'"� TNI r m N, r''r xwismnirei � t hili �i 2�\tl t� ,4 t ss 1 r ;uii t tt'rk1 :� it U t r��i iu y ili slt s� t i rn i r Manage Your Subscription This message was sent to tltterbackT@bbfl.us from info@fisherauction.com Fisher Auction Fisher Auction Company 2112 East Atlantic Boulevard Pompano Beach, Florida 33062 '0 lContact TRY IT FOR FREE 3 i B s tA . vp a iv cj op l t. - Lt5 — €IEn� In Ln To ,t.Y, 6:3 —I m rJ) u9 C -y- G !w t0 t0 C6 9 O N w a O t 9cc ca p p p } — j fi d d �) 1 y s N Yrr , a a z yif 4Z3 u y Z i r ITt G A _ : O •j� O - Sh 4h _ s Al, } „} �}}�s p aYl ( } 1fi� 7i> � tySty't ylaiKr�� 'a S in { .r,k TP B `d wL y4 y h t �f .,5r ( N z r � Hl y a Gita+ 1 -� ;� �;b �t y v �f� icy x lk 21 E U »> + 7 ,M7 � � 1 .p � �� }1{ L r 'ry�rt�S��y y t y}r'� y r _• fit r -o� � � n:5 I R, �� y '��i j�yt} :r f�y�l+} ' r�,ya}++h}y �� as �` � ✓i 7�. '� i „,.....y 41 d a r �w U• — U' li-12 (J Lt Lt Q tJ , O' hl� VIv J 1 w° sn° ✓�v, uy%� d VJ i3 J V , d J W CG7 LL3 cn z 05 Qa fls d9 Q9 4 Q s � � n = r Z r,r Z d,''I 2 oi i4. Z rI i tits eV 41' rs3 _ u� va ur ua r..y s dm , .I - •t ., 3k cv 1 x +y ` IF '14 Y Wo o t � � i R 421 U I ,? _ rrn, ( m pr r p �a -a , e (`!skiff IN .f 'rte From: Carol Jones-Gilbert To: Shutt.Thuv;Tammv McDonald Cc: Tack.Timothy; Utterback,Theresa; Maxine Gavle Subject: Re: Invitation to April 12th CRA Board Meeting Date: Thursday,April 7,2022 11:26:31 AM Attachments: imaae091832.Dno imaae298130.Dno imaae198177.Dno imaae276045.Dno imaae352676.Dno imaae614782.Dno Good morning Thuy, I hope this email finds you safe and well. Please put us down for the May CRA Board meeting. Thank you, Carol Jones-Gilbert Get 9utlook for Android From: Shutt, Thuy <ShuttT@bbfl.us> Sent: Thursday,April 7, 2022, 6:43 AM To: Tammy McDonald<TMcDonald(aepbchafl.org> Cc: Tack Timothy<TackTobbfl.us>; Utterback Theresa<UtterbackTobbfl.us>; Carol Jones- Gilbert<CJones-G ilbert(a,PBCHAFL.org> Subject: RE: Invitation to April 12th CRA Board Meeting Good morning,Tammy, Just wanted to follow up on this invitation. Please let me know if you are able to attend the upcoming April 12, 2022 or May 10, 2022 CRA Board meeting. Thank you. Execlltive Dre r EJovliuoli Beach (CcJiYHYH,xii� F.vuv v e (D rni.e n t 1'..,�-_,,n cr .10 E, Ocean� " ' Ave, Bt3'%i i 31 i Beach, sr I. 33435 )61-600-9098 SW ;� u )V U-1 http.//vvvvvv.boyntonbeachcra.com America's Gateway to the Gulfstream Ne,..v be �,viQe— h Fk rk u,., .: bn u ptxk:�li� rec( r-Q I. ✓✓and a l �„rreQp„n�,en e rn,e vi. e n:il rnlla be� xb,ect „iQ�a�;(we �UnC er F„rk rer„rCIA--Q I.w, ern,,:i .:�,� rv.,.,v.� . re � txk:�lic rer(DrCA- ervr,,rv, , ;txr v T11:,l rnlrnl xi sic a t io n a nu , ;txr e-ir.:i a CIA CIA ry Q Q rnl la, r)w Q i A D �tx:� i< <,i.,�.;,.,txre. From: Shutt,Thuy Sent: Monday, March 28, 2022 11:22 AM To:Tammy McDonald <TMcDonald@pbchafl.org>; Carey Jones <careyjones83_yr6@indeedemail.com> Cc: P. E.Timothy T.Tack (TackT@bbfl.us) <TackT@bbfl.us>; Utterback,Theresa <UtterbackT@bbfl.us> Subject: Invitation to April 12th CRA Board Meeting Good morning, Ladies, I hope this email will find you well. Even though we have had correspondences through Fisher Auction, it has been a long time since the bus tour and our last pre-pandemic meeting and both of our organizations have undergone some changes so it would be beneficial to touch base again. I wanted to follow up on my previous discussion a few months ago with Tammy regarding the PBCHA's future plans and development opportunities in the CRA area. At our last CRA Board March meeting, our Board echoed the same sentiments and have asked staff to invite you to attend our next Board meeting which will take place on April 12, 2022. Please let me know of your availability to meet in person or virtually. Thank you. BOYNTO C D m'suBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 NEW BUSINESS AGENDAITEM: 14.E. SUBJECT: Consideration and Discussion of the Boynton Beach CRA Policy for Processing CRA Board Agenda Items SUMMARY: At the April 12, 2022 Board meeting, the Board requested that the complete board packet be available online one week prior to all Board meetings in conjunction with the agenda publication. I n order to implement this, the CRA Board directed staff and legal counsel to bring back a Policy for Processing CRA Board Agenda Items for Board consideration at its May 10, 2022 meeting. The draft Policy for Processing CRA Board Agenda Items will ensure transparency and allows adequate time for review and coordination with all parties prior to agenda publication (see Attachment 1). It should be noted that the implementation of the Policy for Agenda Item Submission will conflict with the CRA's Policy for Processing Letters of Intent (1-0 1) to Purchase Property since Letters of Intent will be added to the Board's agenda of the next regularly scheduled CRA Board meeting if they are submitted within five days of the regularly scheduled CRA Board meeting (see Attachment 11). Staff is requesting Board authorization to work with legal counsel on the LO Policy changes and bring back recommended revisions for Board consideration at the June 14, 2022 CRA Board meeting. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: 1. Adopt the Policy for the Processing of CRA Board Agenda Items as presented and authorize CRA staff and legal counsel to revise and bring back the Policy for Processing Letters of Intent (LOI) to Purchase Property for Board consideration at the June 14, 2022 CRA Board meeting. 2. Alternative direction by the CRA Board upon further discussion. ATTACHMENTS: Description D Attachment I - Draft Policy for Processing CRA Board Agenda Items D Attachment II - Policy for Processing Letters of Intent(LOI)to Purchase Property B10,�,�,VTON' Boynton Beach Community Redevelopment Agency Policy for Processing CRA Board Agenda Items The Boynton Beach CRA("CRA")will use the process outlined in this Policy for Processing CRA Board Agenda Items ("Policy") to complete the CRA Board Meeting Agenda preparation and review process in a timely and efficient manner. The Policy is designed to ensure a transparent process, furthers the goals and objectives of the 2016 Boynton Beach Community Redevelopment Plan, and is in the best interest of the CRA. CRA Board Agenda Item Processing Policy: Items to be considered by the CRA Board are placed on the CRA Board agenda. Agendas are prepared as required by statute and for use by the CRA Board at its regularly scheduled monthly CRA Board Meetings, CRA Board Workshops, and CRA Board Special Meetings (collectively, "CRA Board Meetings").Items and all supporting documents must be submitted to the CRA no later than 14 calendar days prior to the CRA Board Meeting in order to be added to the agenda so as to ensure enough time for proper review by appropriate staff before the agenda is published. Agenda items may be created upon request of a CRA Board Member,request of CRA staff, or request by a third party. When the CRA receives a request from a third party to include an agenda item for CRA Board consideration, the request must be in writing and include all supporting documentation. Otherwise, the CRA staff may decline to add the item to the agenda. Generally, proposed agenda items deemed appropriate for CRA Board consideration will be placed on the agenda of the next regularly scheduled CRA Board Meeting. However, if the written request and supporting documents are received by the CRA less than 14 calendar days before the requested regularly scheduled CRA Board Meeting,the CRA staff may add the item to the agenda of the next available regularly scheduled CRA Board Meeting. The CRA staff will include the written request and all supporting documents as backup to the agenda item. The CRA is under no obligation to place any item requested by a third party on an agenda, and may decline any request to create or include an agenda item for consideration by the CRA Board. This Policy shall not be read to in any way limit or prohibit the ability to provide public comment under the public comment section of the agenda subject to applicable rules. I. Agenda Item Preparation The agenda shall be supported by an agenda packet, which to the extent practicable, will contain all backup information,exhibits,and attachments necessary or appropriate to allow the CRA Board to consider the item, along with an agenda cover sheet explaining the item, noting any associated cost, and describing any relevant history. If a presentation is part of the agenda item, presentation should be part of the agenda packet and must be received no later than 14 calendar 01643077-1 days before the CRA Board Meeting. The CRA does not guarantee the ability to present presentations that are not part of the published agenda packet. When possible, CRA staff will endeavor to ensure that when consideration of an agreement is on the agenda, all other parties to the proposed agreement are in agreeance with terms before the agreement is placed on the agenda. 11. CRA Board Agenda Publishing The CRA staff will publish the agenda to the CRA website at least seven calendar days prior to the CRA Board Meeting and will email the CRA Board,Executive Director, CRA staff,and other appropriate persons, including requestors or interested parties, with a link to the agenda as soon as it is published. 111. Records Management All original or electronic copies of documents will be maintained by the CRA staff under the supervision of the Executive Director or other designated custodian of public records. 01643077-1 BOYNTO 16iiii B E M �YYa4a�±r'Ari`,A Boynton Beach Community Redevelopment Agency Policy for Processing Letters of Intent to Purchase Property The Boynton Beach CRA ("CRA") will use the process outlined in this Policy for Processing Letters of Intent to Purchase Property ("Policy") to address any Letters of Intent to Purchase Property that the CRA receives that are not the result of a formal request for such letters. The Policy is designed to ensure a fair process for property disposal, furthers the goals and objectives of the 2016 Boynton Beach Community Redevelopment Plan, and acts in the best interest of the CRA. Letter of Intent Policy: When the CRA receives a Letter of Intent to purchase a property owned by the CRA, the CRA staff will add an item to the agenda of the next regularly scheduled CRA Board meeting to discuss the Letter of Intent. However, if the Letter of Intent is received by the CRA less than 5 days before the next regularly scheduled CRA Board meeting, the CRA staff will add the Letter of Intent item to the agenda of the next available regularly scheduled CRA Board meeting. The CRA staff will include the Letter of Intent and all supporting documents as backup to the Letter of Intent agenda item. At the regularly scheduled CRA Board meeting,the CRA Board may consider one of the following options upon receipt of a Letter of Intent to purchase a CRA-owned property: Option I - The CRA Board may accept the Letter of Intent and direct the CRA staff and legal counsel to negotiate the terms and conditions of a Purchase and Development to be presented at a future meeting and direct the CRA staff to issue a thirty(30)day Public Notice to Dispose. If during the Public Notice period, the CRA receives one or more additional Letters of Intent to purchase the same property, the CRA Board will direct the CRA staff and legal counsel to develop a request for proposal document to be presented to the CRA Board for their consideration at the next available meeting. The CRA will then follow its regular procedures for issuing requests for proposals, evaluating responses, and selecting the successful proposal(s); Option II - The CRA Board may determine that it is in the best interest of the CRA to solicit additional offers to purchase the property, the CRA Board will direct the CRA staff and legal counsel to develop a request for proposal document to be presented to the CRA Board for their consideration at the next available meeting. The CRA will then follow its regular procedures for issuing requests for proposals, evaluating responses,and selecting the successful proposal(s); or, Option III -The CRA Board may determine that it is in the best interest of the CRA to reject the terms and conditions of the Letter of Intent and elect not to proceed with any further action. 00849969-1 BOYNTO C D m'm,BEACH :: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 CRA PROJECTS IN PROGRESS AGENDAITEM: 15.A. SUBJECT: CRA Economic & Business Development Grant Program Update SUMMARY: The CRA's reimbursable Economic Development Grants provide 50% of the project costs in matching funding for rent and commercial property improvements. The grant programs continue to further the C RA's mission to activate vacant commercial space, assist businesses, create jobs and develop a vibrant downtown. Grant guidelines and applications can be downloaded from the CRAwebsite www.boyntonbeachcra.com. Below is a status report of the CRA's Economic Development Grant Programs and Business Development activities for FY 2021-2022: FY 2021-2022 Budget $556,600 ". ;Grants Awarded since October 1, 2021 219 023 ;CRA Funding for Economic Impact Study ($25,000) Remaining Fund Balance as of 5/2/22: $312,577 ". List of CRA Board approved Economic Development Program Grantees since October 1, 2021: Business Business Business Funds Total Funds Name Address Type Grant Approved Disbursed Year-to-Date Stevo, Inc. d/b/a C K's to Lockshop & 301 SE 4 Lockshop Property $2,368 $2,368 Security Street Improvement Center Advantage Physical Therapy, 906S. Property LLC d/b/a Federal Medical Improvement $40,000 $0 Apex Highway, Office Rent Network Suite B Reimbursement Physical Therapy#39 Alberta and Octavia Bell 130 E. MLK Commercial Property Commercial Jr. Boulevard Plaza Improvement $25,000 $0 Property 425 NE 4th Street Southern 501 N. Golf Cars, Federal Retail and Property $75,000 $0 1 nc. Highway I ndustrial I mprovement 507 N. Federal Highway Appliance 622 N. King of Federal Retail Pperty $25,000 $6,250 America, Highway I mprovement I nc. H. Longo 500 Insurance Gulfstream Rent Associates, Boulevard, Office Reimbursement $5,784 $2,892 1 nc. d/b/a Unit 201 Extension Allstate Premier 326 W. Medical Boynton Medical Rent Center of Beach Office Reimbursement $5,871 $978.50 Boynton Boulevard Extension Beach, LLC Service First 420 W. Rent Boynton Professional Reimbursement Processing, Beach Office Property $40,000 $0 Inc. Boulevard I mprovement FISCAL IMPACT: FY2021-2022 Budget, Project Fund, Line Item 02-58400-444, $556,600 CRA P LAN/P ROJ ECT/P ROG RAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: No action needed at this time unless otherwise determined by the Board. BOYNTO C D m'suBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 CRA PROJECTS IN PROGRESS AGENDAITEM: 15.13. SUBJECT: Rock the Plaza at One Boynton Recap SUMMARY: EVENT RECAP On April 23, 2022, the CRA hosted Rock the Plaza at the One Boynton property, located at 1351 S. Federal Highway. The free event took place from 5:00 p.m. to 8:00 p.m., and provided a spotlight on the businesses operating out of the commercial spaces located at One Boynton. The event featured live music from the band Paul Anthony & The Reggae Souljahs, family-friendly activities, a Ribbon Cutting Ceremony for ManCave for Men, and the following Boynton Beach Bucks promotions: • $5 off any purchase at Common Grounds Brew& Roastery, Tokio Ramen and Sweetwater • $5 off a purchase of$10 or more at Soulvaki Fast • $15 off at Mancave for Men In an effort to engage the community and obtain demographic information, event patrons were encouraged to complete a short feedback survey. A total of 95 surveys were collected (74 digital and 21 paper). The results from the digital survey responses (Attachment 1) indicated the following: • Are you a Boynton Beach resident? • Yes— 76% • No-24% • Have you dined at One Boynton before this event? If so, please select all the restaurants you have previously visited. • Common Grounds Brew& Roastery—27.3% • Tokio Ramen— 13% • Soulvaki Fast—27.3% • Tsunami Subs —20.8% • Baciami Italiano— 37.7% • Sweetwater—41.6% • How did you hear about the Rock the Plaza event? • Social Media—44% • Email — 6.5% • Poster/Street Sign— 32.5% • Newspaper— 3.9% • Word of Mouth—20.8% MARKETING RECAP Coastal Star - A quarter-page ad was published in the Coastal Star to promote the event. The Coastal Star newspaper serves the eastern community of Hypoluxo Island, South Palm Beach, Manalapan, Ocean Ridge, Briny Breezes, Gulf Stream and coastal Delray which reaches out to that specific demographic (see Exhibit A). Cost: $525 Gateway Gazette -A full-page ad was published in the Gateway Gazette to promote the event. The Gateway Gazette is a community publication that shares comprehensive neighborhood news, related to city government, business and real estate, sports, and events (see Exhibit B). Cost: $452 Neighborhood News - A full-page ad was featured in the Neighborhood News to promote the event. The Neighborhood News publication is a great way to reach out to the western Boynton Beach communities. The publication is mailed to 17,500 homes/clubhouses, with over 10,000 additional subscribers that read the digital edition online and on Facebook (see Exhibit C). Cost: $450 Posters - A promotional poster was created and distributed to various locations throughout Boynton Beach, including City of Boynton Beach facilities and local businesses (see Exhibit D). Cost: $68 Social Media - The Boynton Beach CRA social media platforms were utilized to promote a variety of paid and organic social media marketing initiatives. (see Exhibit E). Cost: $250 Street Signs - Six (6) custom street signs were designed and installed at various locations throughout Boynton Beach to promote the event (see Exhibit F). Cost: $860 Blog - A blog to promote the various aspects of the event was published to the BBCRNs Boynton Beach Insider blog (see Exhibit G). Cost: $0 FISCAL IMPACT: FY 2021 - 2022 Budget, Project Fund, Line Item 02-58500-480 - $12,000 for the event and $2,605 for marketing. CRA P LAN/P ROJ ECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: No action is required from the CRA Board at this time. ATTACHMENTS: Description D Exhibits A-G Exhibit A—Coastal Star Ow } AL M lot'?WN it WN F , � 3 F i F F - F W, , R'A? f 1 r Initerpreter available upon request.. o4ntac.t .oppinME bb ..ups.or Exhibit B—Gateway Gazette I M%L } - LStu+l I'rr�E I6=BACp�Ip�� d com"E.'I'dI PT 3E 7E•El CPA4ek7 A GEY: BOYNTONBEAEHI:RA.EOM Interpreter available upon request. Contact Coppin 9&WIlms or 45611WO-9097 Exhibit C—Neighborhood News r RD r t jjN2 c HRA +'- {:JMMUMTY REDFVELOPMEM'P AGEN'-CY BOYNTONBEAEHERA.Com Interpreter available upon request. Contact t of phiM bfl,.0 or (561)600-9097 Exhibit D—Poster 1 13 i S e I f ! n` t ' 14 'I N lit r ( BOYNT wmmE CH CRA CG�,aaUMT� MFC�°a^;_L,OMEN-d- End.- BOYNTONREAEHERA-COM lniterpreteR available upon request.: Contact:CoppinNlobflms or Exhibit E—Social Media Post details Perlormance for your post Bk�yn%')n Beach CRA r- , 235 it-,e I at.Cme 81,Dyr';Dr,4s back this Saouiday at 5PLI'Don't miss it t 5 nr 0 0 0 0 0 R C HE-TI VE FEEOB-'CX Rock the Plaza at One Boynton 0 135,1 _b p 1 H or 5-I Y��-,nIrah,FL 3'-4-3 0 CNis,.Mercp,dEs and 4 Mends 235 13 Bow,%mwvai?able deta'I's Performance too youir past Boymon Beach CRA —7 ,p- ..-rn,-- 782 3,. fIoi,Be acti B. i�bAck,this SAulday at QCYk ihCl s«l 0IM 14 'Visit Cu-mm"cq,C�I,',w,'Js R,:,&qu,,w SexivuNI,Fath 10, 1 Cletmoul 0 It 2 2 A 26 uli A[ E r C 0 0 0 Bovillon B e�-Id-A-1, Buckst gl Get..r.lik-, Yhen,YOL—t Pt ill h—*fix 782 40 L C I I Exhibit F—Street Signs ull�ll�� APRIL ..2`79 .0, 51.0,ijrM'AL HWYM 13, 51 , ONE BOYNTON r , SUER ----------------- B. N ( i I - - — - -__ ------- -----. 4, APRIL 3RI IINII 11N�JNI 51-BPM NMI ONE BOYNTON 1351 S. FEDERAL HWY. BOYNTUNBEACHERA.com Exhibit G—Blog BOYNT N BEACH POCK THE PLAZA ONE BOYNTO,N p[m wip I "k , RAF A {2 r. ti ktte�'Ltlan��"Izrra �utsnck;r� la;,im9hn'�vsurd.p �Iril �,` liuii,e�tl'�,'s�' toI'�@'. What k 9Liwk the R'kk 1,I11tdlau,ii, 4IhF.l-k"t�119IhAIll Ilk,11"I 'oIInk,Bo%idull tatRok I'11tk""411 -I�trc n.,',kl u11,.,[ureI.t Ye'm'it I li.a91st i'�yntf-m' i aiat»,-a £! "'id" rt¢,i�irril. fats:�/ o�r�tor� �f�ir�siraorr �sa�o / 0 /0 / 1/rock-tf� - Iz -ori - o�r�tor�/ BOYNTO C D m'suBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 CRA PROJECTS IN PROGRESS AGENDAITEM: 15.C. SUBJECT: Social Media& Print Marketing Update SUMMARY: Throughout the month of April, the BBCRA social media platforms were utilized to provide updates about various BBCRA initiatives and projects. Various posts were shared to promote the Rock the Plaza at One Boynton event and the commercial space availability at the Heart of Boynton Village Apartments. As part of the ongoing initiative to promote the goods and services offered by businesses within the BBCRA area, a variety of social media posts were shared to encourage community members and visitors to patronize and support local businesses. The BBCRA also published a variety of print marketing to promote the Rock the Plaza at One Boynton event, as well as the Boynton Harbor Marina. Ads were published in the following publications: The Coastal Star, Coastal Angler, Neighborhood News, and Gateway Gazette. Additionally, the spring issue of the Redevelopment Works newsletter was released to the BBCRA email subscribers and published to the Boynton Beach Insider blog. The newsletter featured a write-up about the Heart of Boynton Village Apartments, announcement of the FY 2020-2021 Financial and Annual Report, as well as business spotlights for Nicholson Muir Meats, Bud's Chicken & Seafood, Hex Moto, Shade Tree Music Studio, Mancave for Men, and Found at Sea Charters. See Attachment I for examples of the social media and print ads that were published in April and Attachment I I for a listing of the Facebook posts that were shared. FISCAL IMPACT: FY 2021-2022 Budget, General Fund line I tem 01-57400-216 -$225 CRA P LAN/P ROJ ECT/P ROG RAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: No action required unless otherwise determined by the CRA Board. ATTACHMENTS: Description D Attachment I -Social Media & Print Marketing Overview D Attachment II - Facebook Posts U w � Q ZDD d 0 Z H W Q 04*6 Q D w 2 J Q U 0 a 0 a � ; a 5 a� li cn Wr ( v 1; �t�Gl s , t s W Q 4 0 i co J L � o , �z f rri W 41 ' r U 6; 1 cn W WED", i 1 ca a a a _ a O o W9 O c U � _ ! g cnO P� ................................................................................................. q LU U, co O C4Tr ' � � W L I 17. tt , w v ftr. n V � u n u, z Oa '1'it - IN I W _ £ a W a 0 LU 1.4 J w aa a � � m S 3 e U) F- O 44 W WFE uj A 16 445 � } 0 0 M N rL J_ 00 CL m: _ L Ll7 cm Lij Do CLL- CL Coln 0 mm 04 CV3 Z r 11114 La— CM � aaaa� I µ a 'tea rt �a s W a z v � o � as z n W- w W co ��E o v m�uZE--o W T SRI �' 0 Zt k cif` WW4 a l( 011 R i � t �a Z Ln a Lu )�* coIlL 1 ff t 1 t rr+`-ei.� CgLu CL L� } Y W � f J C1� W Zca Li ' i L..l.. 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Cne Buynton tomorrow row for 4 0412V2022 Rock the Plaza at Ore ,' 4 1h. �.._ VA 1,3F E , Vie promotion t� Po,n�c�rr is hal- ening this � 04:21002? Plea e be 2CNYISCy jllst the 4'!4 � 04120F2022 Boymon Beach Bu is tk� _32 25 13ackthis 5a,u,da, at Pooh: 14 04.°,9.2022 n a s re a dv totrtnTLo Raman-Ecvnton Beach. FL 4 G-I IJV, 8,y20Z) � Rock the Fla,a at 2M 9 Eo mord s waL.6:tE,is _ 04,16 202'' Jon Tap ButcnCr arid The FAINDar truss Easter SLindsi",! 30" 4} OV15,2022 Interested n orkmg in 2 architecture?Steve Myatt 1� 242 C 04c',30022 Lacking for conimqrcmi .. 111 GfTynt€ E.aartl"' Kf ,tk�M711 ,. 041t2-2022 >t Cao �cLd pr,pineere�oLa 4 Lnc„v have a greentl7umb? t.,,a � 616 11 BOYNTO C D wimBEACK: KA COMMUNITY REDEVELOPMENT A(22"ENCY CRA BOARD MEETING OF: May 10, 2022 CRA PROJECTS IN PROGRESS AGENDAITEM: 15.D. SUBJECT: MLK Jr. Boulevard Corridor Mixed Use Project (dba Heart of Boynton Village Apartments) Update SUMMARY: The MLK Jr. Boulevard Corridor Commercial Redevelopment and Affordable Multi-Family Rental Apartment Project will provide 124 affordable multi-family rental units as well as 8,250 square feet of leasable commercial space (Attachment 1-111). Since the April 12th CRA Board meeting, the following progress has been made (see Attachment I V): East Building The site has been cleared, concrete footers and block has been installed up to grade. The Electrical, Water and Sewer has been trenched and stubbed up for future connection. The site drainage installation is ongoing. West Building The Site has been cleared and the contractor is waiting on existing electrical facilities to be relocated by Florida Power and Light. North Building The site has been cleared. Concrete footers and block are being installed. The construction timeline estimates the Project will be completed in early 2023. Until completion, a monthly project construction updates will be provided to the CRA Board. FISCAL IMPACT: Fiscal Year 2021-2022 Budget; Project Fund Line Item 02-58200-406 - Local Government Match Contribution $625,750 and Commercial/Retail Component $2,025,815 (commercial component); TI RFA $1,630,280 and $433,008.45 Second Development Agreement for the Residential Component. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach CRA Community Redevelopment Plan CRA BOARD OPTIONS: No action required at this time unless otherwise determined by the Board. ATTACHMENTS: Description D Attachment I - M LK Jr Blvd Project Site Plan - North D Attachment II - M LK Jr Blvd Project Site Plan -South D Attachment III - M LK J r. Blvd. M ixed Use Development Project Renderings D Attachment IV -Construction Progress Photos VHOJ �22 m o U S o a _ YWa z� WN •++............ 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( \,#r a 31 I } ?t�� 4�1 � r613t`�� `m f�J l�l {sir 1 iry 6�rr t) t 1t� at AN cA aml AA sur yeta � o r}a� ��t��o, tm-SAW 41r�, ) r r_ y � t�`i - ' ? ,✓th 31a l d 31 t l � UPS- In gg�S . 1 !ts) r s5 It x t u< � ,r i �` ��«: ,t�•. y��J+ {�'�i(4��11tt��,_f��5i s�t t4i}��t �? i ti'ttt� '�f�l�ti'£�,��{��ti± — Y'.U��t�t e "•,: 4 t ,"�{171�r� \�s�� sr��i t sd�t t�4 it ty �,£�t (4�t r�`t��;'P�5(�, lt�i�; r, 1)� � 5p i N s�1t Qt✓ i ?} s Ss � Jt �S sf 1 �t< 7 Jti t) '� x 7jt��t ,�s s' �� i�t Sf?siaJit�t�Iy �yyi 1?,tj1 h' `? c is IF lii t�iY tjJ}�Vrit?4 S ra{ i vt r!a i ii fU(ti 1 ll 111}�1'��=ly}' l.,{t�1'£��1{i'ti� t� t+i(t� y tt�? .SFJ}�'1'�Mum, <s � ii �f't� .– �� 4p r1 ttll ti��tt,t 1 Sy4lt i£tig �` r i { � �St�tz 1 t( 1 i h �tirt i t1 t is 4r h � - �)�:. .`J�:F` ' sic;��t,\�"��`•tt,rr>.,,��, fl,t�.'�ii i'�t'�Jt£}rFI,S`�'F,;',?; tr;��}t��,?,�f�rtr,'\, � ilsu l - +� r{ ti +�i r lr cn it\�\ P s i` } c { s' 4t + t�� IT s+ lIr+r o 4 j i y{`F l-0 kk i 4 3 y , t 1 m L t 66 ,A s n'�jl� - r AN q { 11 r , -q limpF CENTENNIAL MANAGEMENT CORP.7735 NW 146TH STREET, SUITE 306, MIAMI LAKES, FL. 33016 954-980-7507/ ;e.,:._ -0330 Date: 05-10-2022 LETTER OF INTENT TO PURCHASE REAL PROPERTY: Approximately 4.6 Acres located between NE 4th Ave and NE 5th Ave, between Seacrest Blvd and NE 1st Street in Boynton Beach, FL 33435 To Whom it may concern, This shall serve as a letter of intent to purchase the above referenced property. This is not intended or to be construed as creating a contract between the Buyer and the Seller. Only a fully executed agreement for purchase and sale of the property shall serve to bind the parties. This letter of interest is being proposed for an Affordable Elderly Community that we feel would benefit the City of Boynton Beach.As you are aware,we recently completed Ocean Breeze East Apartment and we have start construction of The Heart of Boynton Village, providing a combined 247 units of affordable housing along with new retail space in the immediate neighborhood. 1) Buyer: Centennial Management Corp and L&E Development or assignee 2) Seller: Boynton Beach CRA 3) Price: $2,472,000.00 4) Deposits: $50,000.00 within five(5) business days of execution of purchase Contract 5) Due Diligence: 30 Day Inspection Period and receipt of good and marketable title. 6) Financing: Closing is subject to award of SAIL or 9%Housing Credit funding from Florida Housing Finance Corporation through one of its 2022 Requests for Application.The Contract shall be binding through May 30, 2023 unless Buyer elects to close earlier or cancel the Contract earlier per due diligence or:financing contingency clauses. 7) Contract: Within thirty(30) business days of the Effective Date of this Letter of Intent,Buyer a Seller to consider this agreement void and accept offers from other parties and Seller shall enter into a binding Contract for Purchase and Sale(the"Contract"). Failure to reach an agreement will allow the Seller to consider this agreement void and accept offers from other parties 8) Closing: Closing shall occur within Fifteen(15) days from receipt of Invitation to Credit underwriting from Florida Housing Finance Corporation. 9) Brokers: With respect to this contemplated purchase,neither Buyer nor Seller is working with any broker(s). I 10) Exclusivity: Upon full execution of this Letter of Intent, Seller hereby agrees not to enter into any agreement, binding or otherwise with any other prospective purchaser for the Property.In the event that Buyer and Seller fail to execute a Contract within thirty (30)business days referenced in Paragraph 7 above,Seller shall be free to engage other purchasers and shall have no further obligation to Buyer. 11) Liens: Seller shall deliver evidence of no encumbrances/liens and at least ten(10) days prior to closing. If this Letter of Intent is acceptable; the Contract shall be prepared by the Buyer's attorney. This offer will stay in effect until 5pm on November 30,2022 411110 Buyer: Centennial Management Corp and or assigns By: Elizabeth Roque Date 05-10-2022 Agreement and Accepted this day of May 2022 Seller: Boynton Beach CRA By: 2 APPRAISAL REPORT BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY PROPERTY OWNERSHIP of 4.65 Acres of Land between NE 4th AVENUE & NE 5th AVENUE, east of SEACREST BLVD& NE 1st STREET BOYNTON BEACH,FLORIDA 33435 by Vance Real Estate Service 7481 Northwest Fourth Street Plantation,Florida 33317-2204 for Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue Boynton Beach, FL 33435 March 15, 2022 a , Vance Real Estate Service VA WA March 15,2022 11111 TIM Boynton Beach Community Redevelopment Agency MEM. 100 East Ocean Avenue Boynton Beach, FL 33435 RE: 4.6513 acres of land,between NE 4th Avenue&NE 5`h Avenue,between Seacrest Blvd& NE 1st Street, 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 March 15,2022. The report sets forth our value conclusion,along with data and reasoning supporting our value 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 2020-2022). This report is for exclusive use of the client for possible disposition of the appraised property. 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 market value of the appraised property, subject to definitions, certifications,and limiting conditions set forth in the attached report. TWO MILLION FOUR HUNDRED SEVENTY—TWO THOUSAND DOLLARS $2,472,000 (THIS LETTER MUST REMAINATTACHED TO THE REPORT WITH EIGHTY-EIGHT(88)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 Wa' afrilee— Claudia Vance, MAI State-Certified General Real Estate Appraiser RZ-173 MBA in REAL ESTATE DEVELOPMENT&MANAGEMENT 7481 Northwest 4th Street, Plantation, FL 33317-2204 954/583-2116 7 . aY. ' ., 'I. __ __ ' ilit , OW — _Arc 4 S l.',l AN r . 1 i f '� ��-+€sot. Ts • yV d 4 yy ' a y 4 , c x Z i emo ;. ( 41 4 ..... , .. ,.._._ CO i 14.0141444. + Q Lf, .„ ., . . _ +j _ .....A : _ „. gm- ,y,}�� fig'# ` 4 j.... 4-+ r gam cl w . F � a) • rr'-e--iti .i, _, '� ' Q Y. t ,. • • ...Ili .. . : .-• _-• an t 11P111,' 1 ., . 0 . . 4 11 1! t . / •,fir"" - .4,.,... 9•,s a wetr�.r3't k-4, - ' ,Ur"_-'"1Cra. - OAora§ N •pAIg'is ili il'i... 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'r 1.- mi� ofrt ti ■I . j« Im P”' o 1 - • 010 it j: 4 4.11,„/- 1,11 I , NMI '1.-1, . ___.. _ � ,�\t�� ar � . =.‘4tV ■ —a. �',, -4„• sig ms . -- n ra ' # p III r; ;i. ,s j _ If T� 1 • , i••--1, f .f '�, �. 111511 :11.104 VI,MINI S ..A:,,,,,'-'7,,` C� r. :▪� ..••• L.�� .. . ,...»..a,,.9MrU.....3 w.,....a.,...o..,.- I .„..,.o...,.......»....o.�......ar�,...1„. „�..,.ma,�,.a.».1-1, �.o.....,.o..�.,.= ,-, a.,..»,..»....o.�..»�. ��,.I.v.a,�.o....,��»>.,.. ,..q,..,.,,. '...., • Centennial Management Corp. 7735 NW 146117 Street Miami Lakes, Fl 33014 9.- 7 ` (305) 821-0330 Fax(305)821-0402 December ,-2821 LETTER OF INTENT TO PURCHASE REAL PROPERTY Property: Approximately 4.346 Acres located between NE 4th Ave and NE 5th Ave, between Seacrest Blvd and NE 1St Street in Boynton Beach,FL 33435 To Whom It May Concern: This shall serve as a letter of intent to purchase the above referenced property. This is not intended or to be construed as creating a contract between the Buyer and the Seller. Only a fully executed agreement for purchase and sale of the property shall serve to bind the parties. This letter of interest is being proposed for an Affordable Elderly Community that we feel would benefit the City of Boynton Beach. As you are aware,we recently completed Ocean Breeze East Apartment and we are about to start construction of Wells Landing providing a combined 247 units of affordable housing along with new retail space in the immediate neighborhood. 1) Buyer: Centennial Management Corp or assignee 2) Seller: Boynton Beach CRA 3) Price: $1,893,000.00 4) Deposits: $50,000.00 within five(5)business days of execution of purchase Contract 5) Due Diligence: 30 Day Inspection Period and receipt of good and marketable title. 6) Financing: Closing is subject to award of SAIL,or 9%Housing Credit funding from Florida Housing Finance Corporation through one of its 2022 Requests for Application. The Contract shall be binding through May 30, 2023 unless Buyer elects to close earlier or cancel the Contract earlier per due diligence or financing contingency clauses. 7) Contract: Within thirty(30)business days of the Effective Date of this Letter of Intent,Buyer and Seller shall enter into a binding Contract for Purchase and Sale (the "Contract"). Failure to reach an agreement will allow the Seller to consider this agreement void and accept offers from other parties. 8) Closing: Closing shall occur within Fifteen(15) days from receipt of Invitation to Credit underwriting from Florida Housing Finance Corporation. 9) Brokers: With respect to this contemplated purchase,neither Buyer nor Seller is working with any broker(s). 10)Exclusivity: Upon full execution of this Letter of Intent, Seller hereby agrees not to enter into any agreement,binding or otherwise with any other prospective purchaser for the Property. In the event that Buyer and Seller fail to execute a Contract within thirty(30) business days referenced in Paragraph 7 above, Seller shall be free to engage other purchasers and shall have no further obligation to Buyer. 12/14/2021 1 11)Liens: Seller shall deliver evidence of no encumbrances/liens and at least ten (10)days prior to closing. If this Letter of Intent is acceptable,the Contract shall be prepared by the Buyer's attorney. This offer will stay in effect until 5pm of n ra 21. c= ,7 Sincerely, Buyer: CentenniaS •nagf emLJ o re and/or assigns /fly: Lewezy Agreed and accepted this /V day of December,2021 Seller: Boynton Beach CRA By: 12/14/2021 2 a41 .J. PALM BEACH COUNTY WORKFORCE HOUSING PROGRAM (WHP) FzORlOP Guidelines a. Summary of the Strategy Funding will be available to eligible homebuyers purchasing a workforce housing unit from approved developers in the WHP. WHP funds will assist with first mortgage and gap financing for the eligible workforce-housing unit. Eligible costs include, but are not limited to, closing costs and down payment assistance. b. Maximum Buyer Funding Assistance: The final amount of assistance will be determined by the program requirements, which include, but is not limited to, underwriting criteria, household income and assets. c. Maximum Buyer Asset Limit: $200,000 per household, for any household seeking assistance from Palm Beach County to purchase a WHP unit. d. Buyer Occupancy Requirements: Owner occupied for-sale units for eligible buyers who will make this property their primary residence. Leasing,renting or subletting is not permitted. e. WHP Orientation: Applicants must attend WHP Orientation as the initial step in the WHP process. f. Homebuyer Education: All applicants must attend an 8-hour homebuyer education training through a HUD approved or NeighborWorks approved Housing agency. g. Bank Financing: Applicants are permitted to use the bank / lender of their choice for first mortgage financing. h. Second Mortgage Award Income Groups AMI% Maximum Assistance% Low 60-80% 27% Moderate-1 >80-100% 20% Moderate-2 >100-120% 15% Middle >120-140% 10% *Maximum assistance is a percentage of the Sales Price Second Mortgage/Gap Financing requirements(include but are not limited to): 1. Loan: Funds will be awarded as a deferred payment loan secured by a recorded mortgage and promissory note. 2. Interest Rate: 0% 3. Affordability Period: 15 years (a) If property is sold prior to expiration of the affordability period, the housing unit must be sold to an eligible WHP buyer. (b) If property is sold prior to expiration of the affordability period, the down payment assistance must be repaid in full. (c) If property is sold after expiration of the affordability period, the WHP restrictions are removed. The unit can be sold at market rate, and the buyer is not required to be income eligible. Page 1 Last Updated: December 20, 2021 4. Default/Recapture The loan will be in default if any of the following occurs:sale,transfer,or conveyance of property; conversion to a rental property; loss of homestead exemption status; or failure to occupy the home as primary residence. If any of these occur,the original loan amount will be due and payable. The unit will remain subject to the affordability restrictions for the remainder of the affordability period. 5. Applicants must secure a first mortgage approval by a lender, to be eligible for down payment assistance. Recipient Selection Criteria 1. Applicants will be assisted based on a first-qualified,first-served basis. 2. Annual Report: Homeowners will be required to report annually to the County's Planning, Zoning and Building (PZ&B)Department. 3. Earnest Money Deposit(EMD):When required by the developer,buyers must provide their earnest money deposit to the developer at the time of signing a sales contract. The minimum EMD is determined by the applicant and the developer. j. Underwriting Criteria(include but is not limited to): Actual amount of assistance will be based on debt-to-income ratios. 1. Front-end ratio (housing payment) — between 30% and 35% of monthly household income, including HOA assessments 2. Back-end ratio (overall credit and debt payments)—cannot exceed 48% of the monthly household income k. Frequently Asked Questions 1. Do I automatically receive the maximum funding assistance provided in the income group I qualify for? No. The final amount of assistance will be determined by the program requirements, which include (but not limited to) underwriting criteria, household income and assets. 2. Can I purchase a WHP unit in a higher income group than what my income qualifies me for? Yes, provided you meet all the eligibility and underwriting requirements of the WHP. Please note that if you are seeking down payment assistance, the amount of down payment assistance provided will not exceed the maximum for the group/category you are purchasing a home in. For instance,if your income places you in the Moderate-1 group and you want to purchase a home in the Moderate-2 group, the maximum down payment assistance will not exceed the eligible percentage for the Moderate-2 group. 3. Can I purchase a WHP unit in a lower income group than what my income qualifies me for? This is not preferable, but will be reviewed on a case-by-case basis. 4. Do I need to be a first-time homebuyer to participate in the WHP? No. As a first-time homebuyer you are eligible, but it is not a requirement for the WHP. 5. What if my household income/assets exceed the approved ranges after I purchase the WHP home? The income/asset ranges are only applicable at the time of purchase.If your income/asset changes after you have purchased the home, there is no adverse impact from the County. Page 12 Last Updated: December 20, 2021 6. What if the sales prices of the homes change after I receive my eligibility certificate? The certificate of eligibility is valid for up to 2 years. In order to be guaranteed the sales price listed on the certificate, you will need to enter into a sales contract with the developer/seller. The sales contract will contain the final sales price for the property being purchased. 7. If I own an existing home(mobile home), am I eligible to participate in the workforce housing program? Possibly. Owners of existing homes must ensure that the WHP Developer is willing to sign a contract while owning a home. Homes must be conveyed prior to the closing of the new property. Quit claim deed is not an acceptable means of conveyance of property. Owners of existing homes must be reviewed on a case-by-case basis to determine their eligibility for the WHP. 8. What if I am approved for the WHP and another developer comes into the program,can I purchase a home in that development? Yes. You can purchase a home in any existing or future development, provided you are not under contract to purchase a WHP home already. 9. Is there a ceiling on how much the lender can charge for origination fee? Yes. Lender's origination fee cannot exceed 1.75%of the loan amount. Other WHP Information Attachment 1 —WHP Restrictive Covenant Requirements Attachment 2—WHP Processing Procedures Attachment 3—Current WHP Purchase and Sales Prices Page 13 Last Updated: December 20, 2021 Attachment 3 PALM BEACH COUNTY WORKFORCE HOUSING PROGRAM (WHP) 2021 Purchase and Sales Price Chart i6 4*ORle* Low Moderate -1 Moderate -2 Middle 2021 Income Income Income Income (60% - 80% AMI) (80% - 100% AMI) (100% - 120% AMI) (120% - 140% AMI) Household Range $48,120 - $64,160 $64,160 - $80,200 $80,200 - $96,240 $96,240 - $112,280 Sales Price $168,240 $216,540 $264,660 $312,780 Minimum Buyer 2.5% 3.5% 3.5% 3.5% Contribution % Maximum Subsidy $45,473 $43,308 $39,699 $31,278 Assistance** * This chart is effective July 1, 2021 and may change annually ** Maximum assistance is not guaranteed. The final amount of assistance provided by the County will be determined by the program requirements, which include but not limited to, underwriting criteria, household size and assets. Last Update: July 1, 2021 4311dACH CPURPOSE OF PROGRAM C� 111 _6, 2 To provideCounty the workforce opportunity withinto Palmpurchase Beach an homes at below market prices. Down payment and closing 4LORi94* cost assistance is available for those who qualify. III III II IIII MI ORKFORCE HOUSING PROG Low Moderate -1 Moderate -2 Middle 2021 Income Income Income Income (60% - 80% AMI) (80% - 100% AMI) (100% - 120% AMI) (120% - 140% AMI) Household Range $48,120 - $64,160 $64,160 - $80,200 $80,200 - $96,240 $96,240 - $112,280 Sales Price $168,240 $216,540 $264,660 $312,780 Minimum Buyer 2.5% 3.5% 3.5% 3.5/0 0 Contribution % Maximum Subsidy $45,473 $43,308 $39,699 $31,278 Assistance** * This chart is effective July 1, 2021 and may change annually ** Down payment assistance may be available up to this amount. Workforce Housing Development Locations Merry Place Estates 3700 Georgia Ave., West Palm Beach FL 33405 (561) 655-8530 ext. 1203. Visit housinqcenterpb.com/merryplace/ Windsong Estates -Lake Worth Visit www.liveatwindsongtownhomes.com Interested buyers must take part in a mandatory WHP introductory orientation. Registration link for the orientation - https://survey.pbcgov.com/s3/HED-Registration 04/22/2022 Attachment 2 Ito PALM BEACH COUNTY \® WORKFORCE HOUSING PROGRAM (WHP) °Rio Homebuyer Processing Procedure Step 1: WHP Orientation Interested buyers must take part in a mandatory WHP Introductory Orientation. Confirmation of the Orientation participation must be provided to the developer. Contact person: Tyrone Jacobs Jr (561 233-2066 / tiacobspbcqov.orq) or Verna Jackson (561-233-2064/vjackson(@,,pbcgov.orq) Step 2: Income Certification and Eligibility Determination Interested buyers will present the Department of Housing & Economic Development (HED)with the following: • Palm Beach County Workforce Housing Program (WHP)Application • Form 1003 • Form 1008 • Buyer(s)driver license or state issued identification • Most current 30-day paystubs • Most current 2 months bank statements. • Pre-approval / prequalification for first mortgage (if available). WHP buyers are required to have a 30 year fixed rate first mortgage. The documents provided will be used to determine a household's eligibility for the workforce housing program and any financial assistance the household may be eligible for. Contact persons: Verna Jackson (561-233-2064 / viacksonpbcqov.orq) or Tyrone Jacobs Jr(561 233-2066/tiacobs(c�pbcgov.orq) Step 3: Issuance of WHP Certificate and Assistance Award Letter(if applicable) Based on the income and assets of the buyer, HED will determine if assistance is needed. HED will provide the buyer with a WHP Certification. The WHP Certification will include: • Approved WHP property sales price • Eligible Income Group • Issue/Expiration date of the certification For buyers'qualifying for gap financing assistance(down payment and closing cost),HED will provide a WHP Award Letter which will include: • Approved WHP gap financing • Expiration date of the award letter • Household size • Overview of program requirements and key program terms HED will explain to the buyers the projected move-in timeframe, along with the location of the workforce housing units within the development. The Project Developer will provide the final construction schedule for each unit being constructed. Contact persons: Verna Jackson (561-233-2064 / viackson( pbcgov.orq) or Tyrone Jacobs Jr(561 233-2066/tiacobs(apbcgov.orq) Page I 1 Last Updated: June 10, 2020 Step 4: First Mortgage Pre-Approval/Sales Contract If pre-approval / prequalification was not provided as part of Step 1, within 5 business days of receipt,the lender or buyer will provide the first mortgage approval, along with a signed copy of the Sales Contract. Pre-Approval contact persons: Verna Jackson (561-233-2064 /viackson(cDpbcgov.orq) or Tyrone Jacobs Jr(561 233-2066/tiacobsApbcgov.orq) Step 5: Construction Commencement/Appraisal Once construction of the workforce unit commences,the developer will provide HED and the buyer with the anticipated construction timeframe/schedule. The buyer will provide HED with a copy of the property appraisal once it is ready. Contact persons: Verna Jackson (561-233-2064/viacksonApbcgov.orq) Step 6: Homebuyer Education Applicants must attend an 8-hour homebuyer education training through a HUD approved or NeighborWorks approved Housing agency and present the certificate of completion. The certificate of completion must be submitted to HED within 90 days from construction commencement. Step 7: Closing Notice from Closing Agent Closing Agent will provide HED with a minimum of a 30-day closing notice. The closing notice package should include: • Contact person for the title company • W9 for the title company • Wire Transfer Instructions(on bank's letterhead) • Title commitment (the County requires ALTA 4.1-06/5.1-06, 8.1 and 9.06 endorsements) • Closing protection letter • Final Closing Disclosure • Appraisal (if not already provided) • Survey • Proof of buyer's homeowners insurance HED will provide the title company with the final promissory note and mortgage. Prior to closing on the purchase,the title company must ensure HED has reviewed and approved the final closing/settlement statement. The final closing / settlement statement approved by all parties and the wire transfer request must be submitted to HED 5 days prior to closing. Contact person: Verna Jackson (561-233-2064/VJackson(a�pbcgov.orq) Page 12 Last Updated: June 10, 2020 Attachment 1 �tpPcr►c°c , PALM BEACH COUNTY • • WORKFORCE HOUSING PROGRAM (WHP) '°conte° Restrictive Covenant Requirements Buyers are purchasing a for-sale housing unit pursuant to the Workforce Housing Program (WHP), as outlined in the Palm Beach County Unified Land Development Code(ULDC)Article 5.G.1. • This WHP Unit has an affordability restriction for a period of fifteen(15)years from the date title is transferred. This affordability restriction is in the form of a recorded deed restriction that states: "This property is to be sold to and occupied by an Eligible Household, in accordance with the Declaration of Restrictive Covenants for Workforce Housing recorded in the Public Records of Palm Beach County, Florida, as it may be amended from time to time. Said Covenant requires prior verification and certification by Palm Beach County of the Eligible Household prior to transfer or occupancy of the unit. This restriction shall be in effect for fifteen (15) years from the date title to the Required Workforce Housing Unit is first transferred by Declarant to an Eligible Household. In the event of resale of a Required Workforce Housing Unit by Owner prior to expiration of the Compliance Period, a new fifteen(15)year affordability period shall take effect on the date of resale of the Required Workforce Housing Unit in accordance with this Covenant." • During the fifteen(15)year affordability period,the owner of the WHP unit shall submit an annual report to the Planning Division, on a form provided by Planning Division staff, to demonstrate continued compliance occupancy requirements of with the WHP. The County may conduct site visits at reasonable times,to verify continued compliance with the WHP. • In the event the WHP unit is resold before the end of the fifteen(15)year affordability period, a new fifteen(15)year affordability period shall take effect on the date of resale of the unit. In addition,the unit is required to be sold to a WHP income eligible buyer.The unit must not be sold for a price greater than the WHP price that is determined by the Department of Planning,Zoning and Building prior to such sale. • Should a resale occur within the fifteen (15)year affordability period,the following steps are required: Step 1. The seller must contact the Palm Beach County Planning Division at 561-233- 5300 to determine the WHP unit maximum resale price. The unit resale price cannot exceed the same price category of the unit's previous sale. Step 2. Planning Division staff will add the WHP unit to the listing of available for-sale WHP units on the appropriate County websites, and provide the seller with the resale requirements. Step 3. The seller is encouraged to contact the Department of Housing and Economic Development(HED)at 561-233-3600 and request assistance in identifying WHP income eligible buyers. The seller can refer potential buyers to HED for more information about the WHP and the income qualification process. Step 4. The seller must inform all potential buyers that the unit is a WHP unit, subject to all the requirements for WHP. Step 5. At least 30 days prior to resale the seller shall provide to the Planning, Zoning and Building Department the necessary sales information for review of the proposed resale in order to determine compliance with the WHP. Step 6. Following resale of a WHP unit a new WHP 15-year affordability period will begin on the new purchaser of that WHP unit. The closing agent for the sale(as specified in the sales contract)shall be responsible for recording the new WHP deed restriction with the 15-year affordability restrictions as part of the acquisition and closing process. • Should a WHP unit purchaser reside in the unit beyond the 15-year affordability period, the owner may sell the unit at market price. Page 1 Last Updated: July 01, 2021