Minutes 07-12-22 Minutes of the CRA Board Meeting Held on
Tuesday, July 12, 2022, at 6 P.M.
at City Hall Commission Chambers
100 E. Ocean Avenue, Boynton Beach, Florida
PRESENT:
Ty Penserga, Chair Thuy Shutt, Executive Director
Angela Cruz, Vice Chair Tim Tack, Assistant Director
Woodrow Hay, Board Member Tara Duhy, Board Counsel
Thomas Turkin, Board Member
Aimee Kelley, Board Member
1. Call to Order
Chair Penserga called the meeting to order at 6:01 P.M. He reviewed the rules of
decorum.
2. Invocation
Board Member Hay gave the invocation.
3. Pledge of Allegiance
The members recited the Pledge of Allegiance to the Flag.
4. Roll Call
A quorum was present.
5. Agenda Approval
A. Additions, Deletions, Corrections to the Agenda
Board Member Turkin requested to move Item 14 B to after Public Comments.
B. Adoption of Agenda
Motion
Board Member Kelley moved to approve the agenda as amended. Board Member Hay
seconded the motion. The motion passed unanimously.
6. Legal
None.
Meeting Minutes
CRA Board
Boynton Beach, Florida July 12, 2022
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 Kelley disclosed that she spoke with Neighborhood Renaissance.
Board Member Turkin stated that he spoke with Andrew Maxsey, from Pulte Group, and
Kim Kelly regarding Item 14. He said that he also met with Neighborhood Renaissance
virtually.
Chair Penserga commented that he spoke with almost every applicant on the Cottage
District, Item 13C, but not East to West Development Corporation and Kim Kelley.
Vice Chair Cruz disclosed that she spoke with Neighborhood Renaissance virtually.
Board Member Hay announced that he had no disclosures.
8. Announcements and Awards
A. Boynton Beach Night Market Announcement
Amanda Meyer, Business Promotions and Marketing Coordinator, announced the Night
Market on July 30th at 6 p.m. at the Amphitheater, and the associated activities. She
advised that there will be free parking, and vendor applications will be accepted until July
25 t
Ms. Shutt announced that the last Night Market went very well.
9. Information Only
None.
10. Public Comments
Chair Penserga read the following:
A. 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
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the Board, please go to the podium or unmute your device when prompted, and state
your name and address for the record.
Lord Governor of the Boynton Beach Haunted Pirates Fest and Mermaid Splash said that
he understood the event is being transitioned to the City and wanted the Board to continue
the event. He commented that it draws 80K people over two days and people are looking
to do things on the week of Halloween. He requested that they budget funds for it, as the
last weekend is the best weekend for the show and he needs to time to obtain acts. He
commented that it is a wonderful signature event for the City, and it is good for existing
businesses and it attracts new businesses.
Steven Grant, former Mayor, stated that he previously sent an email about the Florida Bar
Rules of Professional Conduct to the members and noted Rule 4.11 pertaining to special
conflicts that could exist about a former public officer representing someone in front of the
Board. He noted that certain matters occurred over the last six years, but that he can
represent someone if he receives informed consent from the Board. He advised that his
law practice is in the CRA area and several CRA businesses approached him. Mr. Grant
stated that he would provide as much information as he can to apprise the Board of the
details regarding how any information he obtained as Chair of the CRA Board would not
interfere with the CRA or put the CRA at a disadvantage. He noted that the State
Legislature prohibits him from receiving compensation under F.S. 112.3.13 Subsection
14, and the clients that he has, he represents in other matters and he will represent them
here without compensation. He stated that he is waiting for an Opinion Letter from the
State Attorney General, because it does not specifically say, dependent, special district,
but out of an abundance of caution, he will not accept compensation. He asked what was
the best way to go about obtaining the informed consent.
Attorney Duhy responded that she spoke to Mr. Grant about the matter referencing
Florida Statute, Section 112.3.13 (14) and that the CRA Statute does apply the rules.
From a legal perspective, because of Mr. Grant's prior service to the City, it could give
the appearance of impropriety. She offered to contact an outside source, such as the
County and State Ethics Bureau and the Attorney General.
Mr. Grant pointed out that the Legislation describes a governing body or agency and it
only pertains to an elected position; and the CRA Board members are appointed. He
stated that without compensation, there is an element of lobbying, which he was not
accepting. He said that there was agreement to wait for an Opinion and for Attorney Duhy
to conduct further research.
Chair Penserga opened Public Audience.
Ernest Mignoli, asked if people have to give their address at the meetings and complained
about an incorrect meeting time. He stated that the Board discriminates, and benefits
shop owners and not residents, and about crime.
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James Barton, 533 E Ocean, President of Florida Technical Consultants, advised that he
will submit a letter asking for a lease extension, similar to what Hurricane Alley has. He
said that they have an agreement with the new owner to stay in the building until they
take ownership, and they hope to occupy a unit in the new building. He stated that if it is
voted down, they are looking for another place, but if allowed to remain, they will alleviate
liability concerns, as they now have second method for egress.
Chair Penserga closed Public Audience.
Item 14 B Discussion of lease amendment with CRA and Hurricane Alley. (Heard out
of Order)
Ms. Shutt presented the agenda item.
Mr. Grant, on behalf of Hurricane Alley, stated that there was incorrect information in Ms.
Shutt's presentation.
Attorney Duhy recommended Mr. Grant not speak on the client's behalf until the Board
receives an Opinion from the Attorney General or the Commission on Ethics. Mr. Grant
explained that was for a different matter of representation with compensation, but he
announced that his client would speak for herself.
Kim Kelly, from Hurricane Alley, stated that she did not have a one-year extension, she
has had five, five-year renewable leases every five years for 25 years. She detailed the
terms she wanted and stated that her legal counsel will negotiate on her behalf at the
appropriate time.
Attorney Duhy stated that because of Ms. Kelly's agreements will Affiliated Development,
they cannot have a lease that extends beyond the closing date, per the Purchase and
Sale Agreement unless they waive that provision.
After brief discussion, there was agreement to table the item to work out the details.
Motion
Board Member Turkin moved to table Item 14 B. Board Member Kelley seconded the
motion. The motion passed unanimously.
11. Consent Agenda
A. CRA Financial Report Period Ending June 30, 2022
B. Approval of CRA Board Meeting Minutes - May 10, 2022
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C. Approval of Commercial Property Improvement Grant Program in the Amount of
$25,000 for Sole-Perna, Inc. d/b/a Salon South Flow located in Patterson Plaza at
1815 S. Federal Highway Units 3 & 4
D. Approval of Commercial Rent Reimbursement Grant Program in the Amount of
$15,000 to Sole-Perna, Inc. d/b/a Salon Resta located in Patterson Plaza at 1815 S.
Federal Highway, Units 3 & 4
E. Approval of Commercial Property Improvement Grant Program in the Amount of
$50,000 to JWS Investments Restaurant d/b/a Tropical Island Restaurant located at
126 W. Boynton Beach Boulevard
F. Approval of Commercial Rent Reimbursement Grant Program in the Amount of
$21,000 to Tropical Island Restaurant, LLC located at 126 W. Boynton Beach
Boulevard
G. Approval of Commercial Property Improvement Grant Program in the Amount of
$25,000 to Beauty & The Beat, LLC, d/b/a Beauty & The Brow Boutique located in
Sunshine Square at 240 E. Woolbright Road
H. Approval of Commercial Rent Reimbursement Grant Program in the Amount of
$14,391 to Beauty & The Beat, LLC, d/b/a Beauty & The Brow Boutique located in
Sunshine Square at 240 E. Woolbright Road
I. Ratification of the Insurance Broker of Record for Property and Casualty Insurance
Program Contract
12. Pulled Consent Agenda Items
None.
Motion
Board Member Hay moved to approve. Board Member Kelley seconded the motion. The
motion passed unanimously.
13. Old Business
A. Project Update on the Bride of Christ Daycare Center at NE 10th Avenue
Ms. Shutt presented the item and stated that the Church had requested an extension,
which was granted. She stated that staff had informed them they needed zoning approval
and that a report should be given, and that a six-month written update was provided. She
mentioned that a building permit was submitted, but zoning has not received paperwork
for the use approval or the zoning approval.
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Joel Comerford, Attorney on behalf of the Church, stated that he sent a letter on the status
of their progress, and the letter outlined their progress regarding permitting, financing,
contractor selection, and Unity of Title for Lots 26 and 27. He mentioned that the Church
has until January 16th to put boots on the ground.
Ms. Shutt pointed out there is a difference between a site plan approval and a zoning
approval. She said that they would have to go through the public hearings process for
the use approval and it is a separate application that takes a few months to prepare.
Mr. Comerford stated that he believed the engineer was aware.
B. Discussion and Consideration of Amendment to Exhibit A, Marina Rules and
Regulations, of the Dockage Lease Agreement for the Boynton Harbor Marina
Theresa Utterback, Development Services Manager, stated that this item adds a
paragraph about hurricane preparedness for boats to the Marina Slip Lease Agreements.
She said that to-date, there have been no issues and usually boat owners remove their
boats from the Marina in preparation of a major storm. She commented that if someone
does not secure their boat, the dockmaster has to do it, and that takes time and materials.
She said that this item would allow the dockmaster to invoice the owners. She explained
that this language will be included in all lease agreements and current renters will all be
notified of the change as they are currently unaware of the additional provision, if
approved. She commented that there are also provisions in the current lease that state
that the CRA can change rules and regulations when approved by the Board, and she
noted that all boat owners supply the dockmaster with their emergency plans, so the
dockmaster will know who will leave and who will stay. She conveyed that the dockmaster
thought a fee of $500 maximum, per slip, was appropriate and she further noted that six
rental slips will be impacted.
Further brief discussion followed regarding repeat tenants often just signing leases and
they may not be aware of the change, and the actual cost and manner of assessing the
fee, as the cost would not be the same to secure a large diving vessel compared to a
wave runner and that further research was needed.
Brian Smith, Dockmaster, stated that he would contact other municipal marinas to see
what they charge.
Motion
Board Member Kelley moved to table Item 13B. Board Member Turkin seconded the
motion. The motion passed unanimously.
C. Discussion and Consideration of Letters of Intent for the Cottage District Infill
Housing Redevelopment Project
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Ms. Shutt stated that this pertained to For-Sale affordable housing, meaning they will be
single-family detached homes or townhomes, not rental, and that the Letters of Intent
(LOI) included different categories. She said that the CRA has been trying to develop the
site since 2019 and had been in discussion with several developers, and the last RFP
ended in termination of negotiations with Azur. She commented that since then, staff
received five LOI's and the developers were present to introduce their concepts.
Daniel Roseman, East to West Development Corporation, was present virtually and
explained that they are a 501(c)3 corporation. He stated that they have an amended
proposal which provides for a payment of $1.08M for the land and the average home
price is $322K, servicing those earning between 80% - 140% of the AMI. He said that
they believe their proposal is consistent with the CRA Plan and the zoning and the land
use. He mentioned that they partnered with a general contractor and they have been
provided with a site plan and home type. He provided the history of their team, and said
that the range of their homes would be from $285K to $343K, depending on which model
is selected. In response to a question from Chair Penserga regarding the request for
additional support from the CRA beside the land cost being reduced, he advised that they
want to have a partnership, and if there is any support from the CRA, they would leverage
it.
Chair Penserga asked if they have the financial capability for the project.
Mr. Roseman explained that they are working in Ft. Pierce and they have a preliminary
loan from the Florida Community Loan Fund, which is a resource they have access to, as
well as having a venture capitalist the are working with, if not funded by the Florida
Community Loan Fund.
Vice Chair Cruz stated that she asked if they would consider paying full price for the
property, and she learned they would, but the issue is any money they have for the
purchase of the land will affect the purchase price of the home. She commented that they
want to strike a healthy balance and want to keep price points below the County's AMI.
She asked about garages.
Mr. Roseman stated that it would affect cost, and the site plan is already pretty tight.
Board Member Hay asked if they would be comfortable with the reverter clause.
Mr. Roseman responded yes.
(Vice Chair Cruz left the dais at 7:12 p.m.)
Lewis Swezy, of Centennial Management, stated that they have over $60M in
development currently ongoing or completed in the City.
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Elizabeth Roque, of Centennial Management, pointed out that they spoke with people
and ascertained that there is demand for affordable housing and a shortage of affordable
senior housing. She explained that they will build townhomes or single-family homes with
an affordable elderly community component. She stated that they will pay $3M for the
land, and they want to start construction on the single-family townhomes immediately
without funding, which they can fund from their own accounts.
(Vice Chair Cruz returned at 7:15 p.m.)
Board Member Kelley agreed that there is a need for senior housing, but in looking at the
two different plans, there is a lot of parking.
Ms. Roque explained that they made sure that all the townhomes or cottages would be
street lined and owners can walk out onto a sidewalk and garages would be in the back.
She said that the senior community would be on the interior of the community, and the
parking would not face a backyard, it would be buffered.
Chair Penserga requested confirmation that Centennial was offering $3M for the land and
they can begin right away, which Ms. Roque confirmed. He explained that he understood
they would apply for credits.
Mr. Swezy explained that there are two components, and the for-sale townhomes could
be started right away, but the senior housing would be through State approval.
Ms. Roque advised that they would use local contractors as they have with Well's Landing
and Ocean Breeze.
Board Member Hay asked what would happen if they did not receive the 9% tax credits.
Ms. Roque responded that they are confident that they would be very successful, and it
may not happen the first year, but it could happen the second year.
Vice Chair Cruz expressed her concern that it could be a potential issue.
Andrew Maxey, representing Pulte Home Company, stated that they will pay the
appraised value of the land and will build 46 units comprised of single-family homes and
townhomes. He said that in addition to matching the land's appraised value, they will
commit to sell in the two lowest income categories, which was 60% to 100%AMI equating
to $168K and $216K respectively for the price of the homes. He mentioned that they
have several local vendors they use, which he listed. He commented that in terms of
speed, he reviewed images of a project in Delray Beach and within four months, they
started all 20 homes in Carver Square with the CRA there. He said that he was confident
that if they win the bid they can deliver similar results in Boynton Beach.
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Board Member Kelley asked if they promote their projects first to the community where it
is being built, before offering it countywide.
Mr. Maxey replied that before offering it countywide, they target local groups to teach how
to become qualified for a homebuying opportunity first.
Vice Chair Cruz asked if Pulte would consider building more single-family homes versus
the townhomes. Mr. Maxey responded that they are not set on a final number and they
could be flexible for different combinations of product types. She mentioned that she liked
that Pulte was paying full market price for the land and they are providing workforce
single-family and townhomes for purchase. She asked if they were willing to work with
the CRA to market this to Boynton residents first and learned they would.
Mr. Maxey stated that they agree with the reverter clause.
Board Member Hay asked if the price for land acquisition would increase.
Mr. Maxey stated that they were comfortable paying the appraised value and they intend
to pay for the deal in cash and would not need a lender, and they have used local
subcontractors. He indicated that they also anticipated 10 months to get site plan approval
and if they can get it done faster, they will close. He anticipated breaking ground in a
year's time.
Ms. Shutt explained that if the Board authorizes them to begin negotiating, the CRA can
work with them regarding architectural details and then it would come back to the Board.
Terry Murray, Neighborhood Renaissance Executive Director, stated that their approach
was all about vision and they followed the CRA plan. She announced that this is the one
opportunity to redevelop the Cottage District because it will be there forever, and she
explained what the development offers. She reviewed the amenities and highlighted that
the plan has connectivity as it adjoins with adjacent neighborhoods. She advised that they
have the ability and commitment to ensure Boynton Beach residents purchase those
homes.
Ontario Johnson, Neighborhood Renaissance, stated that they will start on day one
working with residents to ensure they become homeowners. He said that they have an
approach to hand holding the residents throughout the process, so that they fully
understand it and have a support system.
Ms. Murray explained that if the Board wants them to raise the purchase price, it will raise
the price of the home and they are about Public Private Partnerships. She said that they
would look for ways to raise revenue and share it with the CRA. She mentioned that at
the time they had to submit their plan, this was what was available for the product and
services they were offering.
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Board Member Hay asked if they could redesign the development.
Ms. Murray stated that they are very receptive to adjusting plans. She explained the
range for the prices of the homes.
Board Member Kelley commented on the business model that they have and liked that
they work with potential homeowners from the beginning to end. She saw in their plans,
that it looked like the homes are identifiable based on what income group they are in.
Ms. Murray said that they have some attached townhomes that are market rate, and the
homes are interspersed, but they can tweak the plan so that no one cannot identify which
homes are in which income category.
Chair Penserga noted that the funding source is not identified.
Ms. Murray stated that the proposal identifies one funding source, which is affordable
housing, as they have an exchange program, and the balance would be from a
construction loan. She advised that they can also bring in another investment partner
and they spoke to the National Community Reinvestment Coalition that has a $6M fund
for Palm Beach County they could use.
Ele Zachariades, from Dunay, Miskel and Blackman, LLP, stated that Miki Kievan, CEO
of Blackonyx Capital will make the presentation.
Mr. Kievan stated that they are a private Equity Real Estate Fund and also manage a
debt and a hedge fund. He said that they proposed two different concepts and they have
a strong team.
Ms. Zachariades explained that the first concept is ninety-nine, 1,500 square-feet cottage
homes with garages, three bedrooms and two and a half baths, all of which are workforce
housing and nearly identical. She said that residents will have a park on NE 4th, as a
public amenity and they are not asking for any CRA contribution or Federal or State
funding. She advised that they want to include a retail component, such has office space
or a grocer to create a sustainable community, and that the second concept was similar.
She stated that Blackonyx was offering $2.55M for the land and it is an all cash deal. She
spoke about loan rates, and construction timelines. She announced that they will have a
local job fair and would like to open it up to City employees first and then Citywide.
Board Member Kelley asked about the average sale price of the units and learned that
they would be offered at .140% AMI and a price of$312K per unit.
Board Member Turkin asked for staff's opinion about the retail component.
Ms. Shutt explained concept three and said that they would need a land use change for
the mixed use, so a rezoning to IPUD would be necessary.
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Board Member Hay asked if Blackonyx had constructed any units in Palm Beach County.
Ms. Zachariades responded that they had.
Mr. Swezy clarified that when Centennial submitted their application, they assumed it was
under the same conditions as Ocean Breeze, they paid the purchase price, and they paid
the funds to the CRA in advance, so it was not subject to tax credits, but regarding senior
component, they cannot start until they get the tax credit.
Board Member Turkin asked if Pulte could change the home exteriors to look more like
cottages.
Mr. Maxey replied that they could.
Vice Chair Cruz asked if they could have more single-family homes. Mr. Maxey agreed
to check with the planners. They may be able to substitute some of the multi-family units
with single-family units. They were open to suggestions from staff.
Chair Penserga opened Public Comments
Ernest Mignoli, 710 NE 7t" Street, Unit 407, asked the Board to consider the long-term
and they need something for average income people. He opined that if comparing a non-
profit company to a for-profit one, the non-profit home will reap a lot of benefits over the
long term, receive taxes and get people into homes. He said that they need diversification
and the homes are needed.
Keturah Joseph, Boynton Beach Faith Based Community Development Corporation,
agreed with Mr. Mignoli's comments and stated that they need affordable housing in that
area She mentioned that there are many $400K and $500K homes, and currently, the
neighborhood is experiencing gentrification. She requested that the Board keep the price
point in mind, and this project was always earmarked for affordable housing and she
thought that 60% to 120% AMI is where the consideration should be.
Mr. Roseman commented that when looking at the proposal and consideration of the
Board, their proposal seems to be most suited to the CRA and County goals. He said that
they cannot compete with larger private development entities, but they need to be
consistent.
Chair Penserga closed Public Comments.
The members deliberated on this item and the consensus was to move forward with Pulte
Homes.
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Motion
Board Member Turkin moved to reject the LOI from Centennial. Board Member Kelley
seconded the motion., The motion passed unanimously.
Motion
Vice Chair Cruz moved to begin negotiations with Pulte Home Company LLC contingent
on changes in the number of single-family homes provided. If negotiations are
unsuccessful, the Board can make a second selection. Board Member Turkin seconded
the motion. The motion passed unanimously.
Attorney Duhy stated that she will bring this back at the next available meeting.
Chair Penserga recessed the meeting for a short break at 8:50 p.m. and reconvened the
meeting at 9:03 p.m.
D. Discussion and Consideration of Purchase and Development Agreement
with the Boynton Beach Faith Based CDC for the Boynton Beach CRA owned
Properties located at 402 and 404 NW 12th Avenue
Ms. Shutt presented this item as contained in the meeting materials and stated that this
parcel was part of the Housing Authority auction. She mentioned that the Board received
two LOI's and selected the Boynton Beach Faith Based Community Development
Corporation, (BBFBCDC). She stated that the Purchase and Development Agreement
was reviewed by Keturah Joseph, Executive Director of the BBFBCDC and needs
approval.
Motion
Board Member Hay moved to approve. Board Member Kelley seconded the motion. The
motion passed unanimously.
E. Consideration of Approval of System Audit Reports and Payments Release to
Seabourn Cove Holdings LLC for the Properties known as Seabourn Cove - Phase I
& Phase II
Vicki Hill, CRA Finance Director, stated that in 2012, the CRA signed a Direct Incentive
Funding Agreement (DIFA) with the above and to receive funding, they needed to meet
conditions. She explained that they have met the conditions and need Board approval to
release the funds.
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Motion
Board Member Hay moved to approve. Board Member Turkin seconded the motion. The
motion passed unanimously.
14. New Business
A. Consideration and Discussion of Fiscal Year 2022-2023 Project Fund Budget
(REVISED)
Ms. Hill explained that the Property Appraiser informed the CRA about the amount of TIF
they would receive. She explained that she reviewed the amount that Seaborn Cove,
Phases 1 and II, would receive and other TIF recipients. She explained the budget
allocation to different projects with the funds. She said that they can reallocate funds now
that Pulte is paying for the land for the Cottage District. Ms. Hill reviewed the line items
and the spoke about the following: the ILA for the Women's Club; the Neighborhood
Police program; the marina seawall; the Economic Development Grants; commercial
exterior improvements; business promotions and events; site work and demolition;
professional development services; legal services; and contingencies. She noted that
there was still $605,545 left to be reallocated.
Ms. Shutt commented that the prior Board asked the CRA Advisory Board (CRAAB) to
review properties on Boynton Beach Boulevard, as they enact the Complete Street model,
so that funds could be allocated for acquisitions or the MLK Corridor or the Post Office
assemblage.
Chair Penserga stated that he wanted to set aside funds for a future grocery store.
Board Member Hay agreed with Chair Penserga's comments and commented that
perhaps staff can guide a potential grocer where to locate.
Vice Chair Cruz asked about staffing and any changes in the staffing budget. Ms. Shutt
replied that they are fully staffed. She allocated a cost of living 6% increase and 5%
increase for staff that would be allocated to Ms. Shutt to distribute to staff.
Board Member Kelley asked about the events line item and asked why they were rolling
over $175K and learned that some of the rollovers were because they did not hold an
event or some were cancelled.
Ms. Coppins explained that the original budget was $765,760 for the overall budget and
most of that was for Pirate Fest. She pointed out that they usually come in underbudget,
but one event for$35K was not held. She agreed to provide a list of events with a side by
side budget. She noted that they have the Night Market event coming up.
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Vice Chair Cruz commented that during budget discussions, they talked about the Pirate
Fest and the current interim City Manager was unaware that the City would be hosting
the event. She understood they will still be supporting CRA Businesses.
Attorney Duhy explained that some of the events are not able to be funded due to a legal
opinion that was issued in 2019. She spoke about what the CRA can and cannot fund.
She characterized the language to be "clear as mud" and in an abundance of caution, it
tied the hands on what the CRA can spend funds on. She stated that it was Legals advice
to the Board to make the event a City-wide and not a CRA event. She explained that they
can ask for an Attorney General's opinion, which is not binding, and a lot of what staff did
was based on the changes in 2019 to transfer the event to the City. She read Section
163.345 and stated that she will send it to the members.
Ms. Shutt explained that in 2019, Mr. Simon, the former CRA Executive Director and then
City Manager, Lori LaVerriere, spoke and started to look into transitioning this event and
other events to the City, but then the pandemic hit and there were no events.
There was discussion regarding the following: business promotion and marketing;
extending an agreement that the CRA had with Standing Ovation; and the price tag for
the events.
Board Member Kelley inquired why it was not discussed in the budget hearings earlier
and noted that the CRA cannot allocate City funds.
Ms. Shutt responded they did bring it up to the CRA AB in November and they had
mentioned it to the prior City Manager. She stated that the CRA Board could have done
more to help the City and partner with the City.
Attorney Duhy recommended not talking about City business at a CRA meeting.
Board Member Turkin asked about the difference between 7.89 mils and 7.85 mils, and
learned it was $400K which could cover the event. He commented that the ball was
dropped and he wanted to speak to the Interim City Manager.
There was discussion regarding the CRA helping the City, and the CRA supporting
businesses instead of spending so much of the funds on Pirate Fest.
Chair Penserga explained that staff will meet with City staff and come back with an
updated number at the next meeting. He commented that he will ask for a line item for a
future grocery store, but staff will have to craft a strategy for it, look at locations and
research grocers.
Ms. Hill stated that she did not recommend earmarking the funds for a grocery store for
a long period of time and clarified that the Board can keep dedicated funds in a line item
for three years. She stated that she would place the funds in a category like acquisitions.
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Chair Penserga stated that he preferred acquisition for grocery store.
Board Member Hay recalled discussing lighting on MLK Boulevard.
Ms. Shutt replied that they are working on the streetscape project, and they could try to
work on activation, but poles are needed.
Mr. Tack explained the process and said that they would have to get power to the poles,
which would require agreements with the utility owner and separate agreements with
those companies, because the City does not own the poles.
Board Member Kelley said that she liked setting aside the funds for a grocery store and
requested this item stay on the radar.
Chair Penserga opened Public Audience.
Ernest Mignoli, 710 NE 7t" Street Unit 407, stated that he did research on Board Members
and especially the City Attorney.
Chair Penserga warned Mr Mignoli to stay on topic.
Mr. Mignoli stated that the reason this Board has issues is because of how they spend
their money. He requested an audit and he verbally attacked Board Member Kelley.
Chair Penserga requested Mr. Mignoli be removed from the Chamber and the Police
escorted him out. He closed Public Audience.
B. Discussion and Consideration of Lease Amendment between Boynton Beach CRA
and Cafe Barista, Inc. d/b/a Hurricane Alley
C. Discussion and Consideration of Purchase of Vacant Lot Located at NW 2nd Street
from Boca Regional Hospital
Ms. Shutt noted that they were looking at other properties on the west side of Boynton
Beach Boulevard, as they become available for redevelopment. She advised that this
property has potential on the corridor and staff sought direction. She said that the
appraisal stated the value was $28K, but since it is not listed for sale, the owner wanted
$40K.
Vice Chair Cruz suggested that the Board be mindful of the market. She thought that
there may be a potential recession and did not think that it was the best time to buy
property, as it could be valued for less in the future.
Board Member Hay stated that he did not think this property was overpriced and they
should move forward with acquisition.
15
Meeting Minutes
CRA Board
Boynton Beach, Florida July 12, 2022
Board Member Turkin thought that it was a good parcel and thought they should wait a
bit or offer a little less. He said that he did not want to pay $40K and he did not think they
should approach the owner, and they should agree on a happy median.
Ms. Shutt explained that both parcels are buildable lots, and the CRA plan has potential
for commercial development and they normally purchase properties along priority areas
or adjacent to CRA owned properties. She explained their process of acquiring land.
(Vice Chair Cruz left the dais at 10:20 p.m.)
Board Member Kelley was not comfortable moving forward with buying this small lot if the
adjacent lot could be purchased by someone else.
(Vice Chair Cruz returned to the dais at 10:23 p.m.)
After brief discussion, there was consensus to move forward with acquiring the parcel for
$28K
Motion
Board Member Turkin moved to offer up to $28K. Board Member Hay seconded the
motion . The motion passed unanimously.
15. CRA Projects in Progress
Chair Penserga asked what items the Board wanted to review. Ms. Shutt stated that staff
could email the information to the members.
Board Member Turkin stated that he drove by the MLK Corridor and was happy with the
progress.
A. CRA Economic & Business Development Grant Program Update
B. Rock the Marina & Lionfish Derby Recap
C. Social Media & Print Marketing Update
D. Social Media Outreach Program 3rd Quarterly Report (April-June 2022)
E. MLK Jr. Boulevard Corridor Mixed Use Project (d/b/a Heart of Boynton Village
Apartments) Update
16. Future Agenda Items
A. Semi-Annual Progress Report- MLK Jr. Boulevard Corridor Mixed Use Project (dba
Heart of Boynton Village Apartments LLC)
16
Meeting Minutes
CRA Board
Boynton Beach, Florida July 12, 2022
B. Semi-Annual Progress Report- MILK Jr. Boulevard Corridor Mixed Use Project (aka
Heart of Boynton Village Shops)
C. Discussion and Consideration of a Draft RFP/RFQ for the CRA-owned Property
located at 401-411 E. Boynton Beach Boulevard
D. Consideration of an Amended Interlocal Agreement between the Boynton Beach
CRA and the City of Boynton Beach to Fund the Boynton Beach Boulevard Complete
Street Project
E. Discussion and Consideration of Purchase and Sale Agreement for 1213 NW 4th
Street, the Cherry Hill Mart
F. CRA Board Discussion and Consideration of Executive Director's Annual
Performance Review for FY 2022-2023
G. Consideration and Discussion of Fiscal Year 2022-2023 Project Fund Budget
H. Discussion and Consideration of Revisions to the Economic Development Grant
Program Guidelines and Applications for FY 2021-2022
I. Discussion and Consideration of the Commercial Rent Grant Program
Reimbursement Extension Guidelines and Applications for FY 2021-2022
17. Adjournment
Board Member Kelley stated that she appreciates how hard staff works when they receive
reports or updates.
Chair Penserga commented that in the future, he will ask the members, early in the
meeting, which items they want to hear.
Ms. Shutt explained that the report for Items 16 A & B will be heard in September.
Motion
Vice Chair Cruz moved to adjourn. Board Member Hay seconded the motion. The motion
passed unanimously. The meeting was adjourned at 10:36 p.m.
Catherine Cherry
Minutes Specialist.
17
The Pierce's Project Elements The Pierce's Original RFP/RFQ Proposal The Pierce's Updated Proposal
October 19, 2021 March 4, 2022
Total Number of MF Units 236 Same
Number of Stories 8 Same
Affordable Units 118 Same
Market Rate Units 118 Same
Income Categories 60-80%% = 9 Units (4%) Same
80-100% = 53 Units (22%)
100-120% = 56 Units (24%)
Maintenance of Affordability 118 units for 15 Years 118 units for 15 Years
11 of units (10%)for additional 10 years
Number of Public Parking Spaces in Addition to 150 Same
Spaces Required for the Development
Total Number of Parking Spaces in Garage 573* (423 for development, 150 public parking) Same
Garage Ownership City/CRA Developer(lease 150 spaces to City/CRA)
Commercial Component 3,500 sf Retail Same
4,500 sf for Hurricane Alley (1,500 sf outdoor dining)
2,600 sf for New Restaurant(1,000 sf outdoor dining)
Finance Gap to be Filled BBCRA
Garage Finance Cost $10.3 Million (Purchase-City bond issuance) $5.5 Million (Upfront land cost, no lease
$12.4 Million (1-50 Yr Lease with option to renew for payments) plus O&M
another 50 Yr)
Operation and Maintenance (O&M) $50/per space ($7,500 annually) Same
Affordable Gap Funding for Affordable Units $7.3 Million (TIF for 18 years until sunset) $6.1 Million (TIF for 15 years)
Total Developer Requested CRA Contribution $17.6 Million (Garage Ownership) plus O&M $11.6 Million plus O&M
$19.4 Million (Garage Leased 150 parking)
Percentage of Project Cost($73 Million) 24.1% (Garage ownership) plus O&M 15.9%
26.6 % (Garage leased 150 parking) plus O&M
*Required parking spaces subject to PZ approval
**Using Developer's$407,126 annual TIF
***Construction cost per parking space$26,000-30,000/parking space ($3.9 to $4.5 Million)
****Developer's Equity $18.9 Million or 25.6% of Project Cost
BOYNTON
BEACH
REQUEST FOR PROPOSAL (RFP)TO PROVIDE EVENT MANAGEMENT SERVICES
CUMMULATIAVE TOTAL SCORES
SUBMISSION DEADLINE JULY 1, 2021 @ 2:00 P.M. - Item 17.(
RESPONDENTS
203 Productions, LLC Standing Ovations,LLC
REVIEWERS
Reviewer 1 (MC) 50 95
Reviewer 2 (MS) 50 95
Reviewer 3 (RR) 31 97
Reviewer 4 (TS) 42 96
Cummulative Total 173 383
RANKING 2 1
REQUEST FOR PROPOSAL(RFP)TO PR+A1:D37OVIDE EVENT MANAGEMENT SERVICES
SUFFICIENCY CHECKLIST-Item 17.0
SUBMISSION DEADLINE JULY 1,2021 @ 2:00 P.M.
�r Respondents
BOYNTONCRA 203 Productions Standing Notes
=RFAC H LLC Ovations,LLC
General Requirements
6/28/21 @ 4:18 6/30/21 at 2:45
Date and Time received 203 Productions submission was not in sealed envelope
p.m. p.m.
2 copies(1 orig,1 copy)&1 digital copy x 203 Productions LLC proposal did not include digital copy
VI.Mandatory Qualification Requirements
A)5-yr Demonstrated knowledge&experience(pref.govt or inst.Communications) V V
B)Demonstrated experience in providing event management services and support for large, V V
multi-day,outdoor festivals and events.
C)Direct or contracted assigned staff with experience and qualifications ✓ V
VII.Submittal Requirements
A)Company Info-Company history and proposed partnerships V V
1.Primary contact '4 ✓
2.Dedicated staff or team members I V
B)Approach to Providing Scope of Services-Project Management Strategy ✓ V
C)Proposed Fee Schedule(Attachment B) 1 V
Boynton Beach Haunted Pirate Fest&Mermaid Splash Services Total(Flat Fee) V V
1.Boynton Beach Haunted Pirate Fest& Mermaid Splash Event Management $107,000 _ $46,500
✓ 203 Productions LLC proposal did not include specific information about events and
D)Summary of Qualifications x related experience
E)Respondent Information and Past Performance(Attachment G&M) ✓ V
F)Litigation History(Attachment H) V V
G)Samples of Work(4 each) V
1.Site Map x V 203 Productions LLC proposal only provided 3 of required 4 Site Maps
2.Emergency Response Plan ✓ V 203 Productions LLC proposal ERP was generic and not specific to the events
V 203 Productions LLC proposal did not provided 4 timelines(3 checklists,1 NFL
3.Timeline Outling All Tasks x
timeline)
3.Production Schedule V V
Attachment C-Respondent's Acknowledgement&Compliance Statement V V
Attachment D-Addenda Acknowledgement V V
Attachment E-Local Business Preference V x
Attachment F-Insurance Requirements V V
Attachment G-Respodents Information&Past Performance ✓ V
Attachment H-Legal History 1 V
Attachment I-Subcontractor List V V 203 Productions LLC did not provide Subcontractors on form
Attachment J-Public Entity Crimes Statement V 1
Attachment K-Certified Drug Free Workplace Program V ✓
Attachment L-Certification of Non-Scrutinized Entity V V
Attachment M-Authorization for Release of Information V V
✓=Provided
X=Did not provide(see notes)
N/A=Was not required to provide
REQUEST FOR PROPOSAL (RFP)to Provide Marketing, Social Media, and Graphic Design Services for the BBCRA 2021 Pirate Fest& Mermaid Splash -
Item 17.D
CUMMULATIAVE TOTAL SCORES
SUBMISSION DEADLINE JULY 1, 2021 @ 2:00 P.M.
BOYNTON
raiLISEACHRESPONDENTS
‘..iv.A Delray's Finest
Sack Lunch
2 TON Signs&Graphics, Griffin Web Design Dellavalle Media SandorMax
LLC Marketing,LLC
REVIEWERS
Reviewer 1 (MC) 55 83 70 65 55 65
Reviewer 2 (MS) 58 90 85 49 54 58
Reviewer 3 (RR) 54 94 94 32 39 46
Reviewer 4(TS) 63 89 86 54 57 65
Cummulative Total 230 356 335 200 205 234
RANKING 4 1 2 6 5 3
A)5-yr Demonstrated knowledge&experience V V V
V V V
(pref.govt or inst.Communications)
B)Demonstrated experience in graphic design- V V V V V V
online,email,social media marketing
C)Direct or contracted assigned staff with V V V V ✓ V
experience and qualifications
VII.Submittal Requirements
A)Company Info-Company history and proposed ✓ V V V V V
partnerships
1.Primary contact V V V V V V
2.Dedicated staff or team members V V I V V V
B)Approach to Providing Scope of Services-Project V V V V V V
Management Strategy
C)Proposed Fee Schedule(Attachment B) V V V V V V
Boynton Beach Haunted Pirate Fest&Mermaid
Splash Services Total(Flat Fee)
1.Graphic Design
$10,000 $15,000 $5,415 $17,288 $16,910 $25,000
2.Social Media Management $26,250 $11,500 $6,750 $18,150 $2,750 $17,000
3.Website Updates $5,500
$5,000 $5,625 $5,105 $3,650 $7,500
4.Creative&Copywriting for BBCRA newsletter,
blogs,website,radio ads,video scipts,and press
releases $5,500 $7,500 $2,830 _ $3,947 $2,755 $20,000
Total Sum of 1-4 $47,250 $39,000 $20,620 $44,490 $26,065 $69,500
Other As Needed Services(Hourly) $125 $75 $85 $90 to$180 $95 $75
D)Summary of Qualifications V V V V V V
E)Professional Reference-3 from past 5 yrs V V V V V V
F)Litigation History(Attachment H) ✓ V V V V V
G)Samples of Work(4 each) V V V
1.Graphic Design-logos,ads,posters,email, V V V V V V
billboard(if available)
2.Copywriting-blog,press release X V V V x ✓
(only 2 provided)
3.Brochures,postcards,posters,etc. V V V X V V
(only 2 provided)
x
4.Social Media-example of post or campaign (only 2 graphics V V V x ✓
provided,no
campaign)
Attachment C-Respondent's Acknowledgement& V V V V ✓ V
Compliance Statement
Attachment D-Addenda Acknowledgement V V V V V ✓
Attachment E-Local Business Preference x x V x x x
N/A
Attachment F-Insurance Requirements N/A N/A N/A N/A (Included COI for N/A
auto)
Attachment G-Respondents Information&Past V V x ✓ V V
Performance
Attachment H-Legal History V V x ✓ V V
Attachment I-Subcontractor List V V V V V V
Attachment J-Public Entity Crimes Statement V V V V V V
Attachment K-Certified Drug Free Workplace V V V V V V
Program
Attachment L-Certification of Non-Scrutinized V V V V V V
Entity
Attachment M-Authorization for Release of V V x ✓ ✓ ✓
Information
✓=Provided
X=Did not provide
N/A=Was not required to provide *=Unable to verify on SunBiz
Original LOI Site Plan Revised Site Plan
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CRA FUNDING SOURCES/USES FY21/22 FY22/23 FY23/24 FY24/25 FY25/26
Tax Increment Revenue 715 801
(increased in future years by 3%) $ 15,801,715 16,275,766 16,764,039 17,266,961 17,784,969
Boynton Harbor Marina Fuel Dock&Slips Revenue $ 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
Fund Balance Surplus $ 100,000
Projected Total Revenue $ 16,901,715 17,275,766 17,764,039 18,266,961 18,784,969
Debt& Operating Expenses
Debt Service Payment-FY 2005-06 Bonds used for
Affordable Housing&E. Boynton Beach Blvd. Extension $ 2,140,528 2,140,528 2,136,830 2,135,817 2,317,425
Agency Operating, Insurances,Administrative&Property
Maintenance Expenses $ 2,844,309 2,929,638 3,017,527 3,108,053 3,201,295
Total Debt&Operating Expenses $ 4,984,837 5,070,166 5,154,357 5,243,870 5,518,720
Boynton Harbor Marina Fuel Dock and Slips Expenses $ 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
Tax Increment Revenue Funding Agreement(TIRFA)
Payments-Contractual Obligations
Wal-Mart(25% Years 6-10) Year 101. $ 17,500 - - -
Seabourn Cove-Phase I (50%- 10 Years) Year 90. $ 437,000 450,110 463,613 - -
Seabourn Cove-Phase II (50%- 10 Years) Year 81. $ 192,000 197,760 203,693 209,804 -
Preserve(75%Yrs 1-5; 25%Yrs 6-10) Year 71. $ 30,000 30,900 31,827 32,782 33,765
500 Ocean(75%Yrs 1-4; 50% Yrs 5-7; 25% Yrs 8-10) Year 30- $ 465,000 478,950 493,319 450,161 463,666
Ocean One - Phase One(75% Yrs 1-7; 50%Yr. 8) 495,176 510,535
Townsquare Funding (until FY 2044-2045) Year 40. $ 3,550,000 3,550,000 3,550,000 3,550,000 3,550,000
Total TIRFA Payment Expenses $ 4,691,500 4,707,720 4,742,452 4,737,922 4,557,966
Remaining Fund Balance for Project Allocation
(Revenue- Debt Service,Operating&TIRFA) $ 6,225,378 $ 6,497,880 $ 6,867,231 $ 7,285,168 $ 7,708,284
ESTIMATE, FINAL NUMBERS GIVEN FROM PROPERTY APPRAISER ON 6/30/2021
BBCRA FISCAL YEAR 2021-2022 PROJECT FUND WORKSHEET Allocation Amount $ 6,225,378
Estimated
FY 20/21 Rollover CRA Board Project Fund Line
CRA Plan District Projects: FY 2021-2022 Balances as of Proposed FY 21/22 Item Allocation Total
6/24/2021 Project Fund (including any
Allocations Rollover as of 8/7/20)
Heart of Boynton MLK Jr. Blvd. Corridor Redevelopment Projects (includes$25k for NOP Office) $ 1,217,881 $ 407,738 $ 1,625,619
Heart of Boynton MLK Jr. Blvd. Corridor(Centennial Project)-Local Government Match $ 625,750 $ - $ 625,750
Heart of Boynton Cottage District Workforce Housing Infill Redevelopment Project $ 73,825 $ 423,000 $ 496,825
Heart of Boynton Redevelopment Assistance for PBC Housing Authority Lots(possible Acquisition) $ 500,000 $ - $ 500,000
Heart of Boynton Sara Sims Amphitheater(Purchase order for$150,000 in FY 20-21) $ - $ - $ -
Acquisition of 508 E. Boynton Beach Blvd.-Closing November 2021 -Balance Due:
Boynton Beach Blvd $823,000 $ 823,000 $ 823,000
BB Boulevard Streetscape Improvement Project
Boynton Beach Blvd (Total needed$1.5 million by FY 23/24) $ 868,580 $ - $ 868,580
Boynton Beach Blvd Acquisition of 217 N.Seacrest Blvd.-Closing Jan.2023-Balance Due: $1,425,000 $ 1,000,000 $ 1,000,000
Federal Highway Historic Woman's Club of BB,ongoing Renovations $ 51,525 $ 198,475 $ 250,000
Pence Park Improvement Project
Federal Highway (recommend reallocation to MLKJr. Blvd Corridor Redevelopment Project**) $ 156,081 $ - $ 156,081
District Wide Property Acquisition $ 77,843 $ 1,122,778 $ 1,200,621
District Wide Neighborhood Officer Program(NOPs)5th year of program $ 524,627 $ 524,627
District Wide Commercial Economic Redevelopment Grants $ 127,781 $ 550,000 $ 677,781
District Wide Business Promotions&Events Assistance Project $ - $ 725,760 $ 725,760
District Wide Business&Marina Marketing Assistance Project $ - $ 75,000 $ 75,000
Residential Grant Program(RGP)(Staff Recommends removing Program and moving
District Wide entire balance of$95k to Pence Park) $ - $ -
District Wide Signage Grant?(If it still exists, move the$25k to Pence Park) $ -
District Wide Site Work, Demolition&Environmental $ 134,446 $ 125,000 $ 259,446
District Wide Professional Development Services(Arch/Eng,Appraisals/Feasibility,etc.) $ 94,195 $ 125,000 $ 219,195
District Wide Development Project Related Legal Services $ 75,658 $ 125,000 $ 200,658
District Wide Contingency(recommend reducing to$150k and move balance to Pence Park) $ 150,000 $ 150,000
$ 6,225,378 $ 10,378,943
ALLOCATION BALANCE REMAINING $ 0
BBCRA: Summary of Tax Increment Revenue(TIR)and Tax Increment Revenue Funding Agreements(TIRFAs)
Pre-Project
Development Amount of TIRFA Funding Property Post-Project Property Property Tax Tax Increment TIF Percentage
Tax Increment
Name Conditions/Deliverables for TIRFA Request Requested TIRFA Term Tax Assessed Tax Assessed Value Increment Value at Revenue to Revenue to CRA Compared to 11
Value Project Completion Developer/Owner Project Budget '
Fiscal Year_ Project Type _
The Project provided affordable access Project Gap Amount or Developer
commercial lease space,ensure public access to Requested Amount is Unspecified
Market Rate Mixed-Use the 111 commercial parking spaces and public in the TIRFA 10 years:Years 1-10 -
Casa Costa 2004-2005 Development access to the delineated public areas for the life of @47.5% $ 119,816.00 $ 89,668,407.00 $ 89,548,591.00 $ 4,552,374.77 $ 5,110,027.63 1 er
the Project
Affordable Homeownership& The Project provided 50 affordable units for Project Gap Amount or Developer
Multi-family Apartments homeownership as attached townhomes,then Requested Amount is Unspecified
10 years:Years 1-
The Preserve 2005-2006 restructured to affordable multi-family rental in the TIRFA 5@75%Years 6- $ 1,025,800.00 $ 11,871,085.00 $ 10,845,285.00 $ 351,225.88 $ 511,200.26 3%
10@25%
The Project is substantially completed in Project Gap Amount or Developer
accordance with the Site Plan;The Project's Requested Amount is Unspecified
completed Improvements are placed on the tax in the T1RFA 10 years:Years Yea
Wal-Mart roll;The Project complies with the commitments 1-5@75%
2009-2010 Retail Supercenter and the terms and provisions of the Agreement; Years 6- $ 3,397,000.00 $ 9,082,113.00 $ 5,685,113.00 $ 319,559.00 $ 322,626.00 4% requesh
for yea
and The CRA has received Project Increment 10@25%
Revenues from such improvements.
The Project was to meet or exceed the National Project Gap Amount or Developer
Association of Home Builders',American National Requested Amount is Unspecified
Market Rate Multi-family Green Building"Gold"Standard.At the in the TIRFA 10 years:Years
Seabourn Cove 2011-2012 completion of the Project,it had achieved the $ 3,120,000.00 $ 73,675,967.00 $ 70,555,967.00 $ 3,107,361.00 $ 3,107,361.00 4%
Apartments 1-10@50%
Phase I "Platinum"Standard
The Project was to meet or exceed the National Project Gap Amount or Developer
Association of Home Builders',American National Requested Amount is Unspecified
Market Rate Multi-family Green Building"Gold"Standard.At the in the TIRFA 10 years:Years
Sea bourn Cove 2011-2012 completion of the Project,It had achieved the $ 195,000.00 $ 25,606,271.00 $ 25,411,271.00 $ 1,156,256.00 $ 1,156,256.00 5%
Apartments
Phase II "Platinum"Standard 1-10@50%
The Project was to meet the National Association Project Gap Amount or Developer 10 years:
of Home Builders',American National Green Requested Amount is Unspecified Years 1-4 @ 75%;
Market Rate Mixed-Use Building"Silver"Standard and providing 6,600sgft in the TIRFA Years 5-7@50%;
500 Ocean 2014-2015Development of Office space Years 8-10@25% $ 3,921,916.00 $ 47,395,724.00 $ 43,473,808.00 $ 828,445.89 $ 276,148.63 2%
The Project was to provide 231 multi-family units; Project Gap Amount or Developer 8 years:Years 1- The pr
8,575 sqft of commercial space;provide fifty(50) Requested Amount is Unspecified 7@75% was di
Ocean One 2017-2018 Market Rate Mixed-Use public parking spaces;obtain Florida Green in the T1RFA Year 8@50% $ - $ - $ - $ - $ - TIRFi
Development Building Standard
The Project was to provide 124 multi-family units Project Gap Amount or Developer 15 years:Years 1- The pro
(9%LIHTC,for 50 yrs);8,250 sqft of commercial Requested Amount is$1,638,280 15@100%;capped in o
MLK Jr.Blvd. Mixed Use Affordable Multi-
2021-2022
- 5% anticipa
Village 2021-2022 family Apartments space($22/sf max commercial lease rate for year In the TIRFA TIF $ 3,563,885.00 $ 30,820,000.00 $ $ 1,638,280.00 $ pa
1-5,43%increase for year 6-10) Sr
Pm-Project
Property Post-Project Property Tax Tax Increment
Tax Assessed Property Increment Value at Revenue to Tax Increment
Value Tax Assessed Value Project Completion Developer/Owner Revenue to CRA
$ 15,343,417.00 $288,119,567.00 $ 245,520,035.00 $ 11,953,502.54 $ 10,483,619.52
C:\Users\shut8\AppDau\LocaFVNicrosoft\Windows\INeiCache\Cmteat.Outlook\8PD9Q222\3-4-22_Sununary of TIR and TIRFA_CRA Board(Attachment XII)-I,