Minutes of the Community Redevelopment Agency Board Meeting Held on Tuesday, April 8, 2025, at 6:30 PM City Hall Chambers, 100 E. Ocean Avenue and Online Present: Chair Rebecca Shelton Tim Tack, Acting Executive Director Vice Chair Woodrow Hay Kathryn Rossmell, Board Counsel Board Member Aimee Kelley Tammy Stanzione, Deputy City Clerk Board Member Thomas Turkin Board Member Angela Cruz 1. Call to Order Chair Shelton called the meeting to order at 6:30 P.M. 2. Invocation The Invocation was given by Board Member Hay. 3. Pledge of Allegiance Board Member Kelley led the Pledge of Allegiance to the Flag. 4. Roll Call Ms. Tammy Stanzione, Deputy City Clerk, called the roll. A quorum was present. 5. Agenda Approval A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda Board Member Turkin requested to move Items 14A and 14D to after announcements and awards. Motion: Board Member Kelley moved to approve the Agenda as amended. Board Member Turkin seconded the motion. The motion passed unanimously. 6. Legal A. Update on Status of House Bill 991 and Senate Bill 1242. Ms. Rossmell stated that she was available for questions. Board Member Hay asked to be updated on when the vote will take place. Ms. Rossmell CRA Board Meeting Boynton Beach, FL April 8, 2025 clarified that it was not set on the agenda yet but she would let the Board know. Board Member Hay asked if Ms. Rossmell had spoken with the city lobbyist. Ms. Rossmell responded that she had not personally spoken with the city lobbyist; however, Chris Lyon, the lobbyist engaged by her firm, had been coordinating with the city's lobbyist, and they were working together on this effort. Board Member Hay thanked her for the clarification. 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 that he spoke with Kim Kelley regarding Item 14A, Jeff Burns regarding Item 14D, and Bonnie Miskell regarding Item 14C. Board Member Kelley also disclosed that she spoke with Kim Kelley on Item 14A, Jeff Burns on Item 14D, and Bonnie Miskell on Item 14C. Board Member Cruz stated that she received emails concerning Items 14D and 14C. Vice Chair Hay disclosed that he also spoke with Jeff Burns and Bonnie Miskell and received several emails regarding Item 14B. Chair Shelton reported that she spoke with Kim Kelley regarding Item 14A, Jeff Burns regarding Item 14D, and Bonnie Miskell regarding Item 14C. 8. Information Only A. Quarterly Progress Report #8 from Pulte Home Company, LLC for the Cottage District Infill Housing Redevelopment Project - January - March 2025 B. Quarterly Progress Report from BB QOZ, LLC for 115 N. Federal Highway Mixed-Use Project (aka The Pierce) - January - March 2025 C. Boynton Beach CRA FY 2023-2024 Financial & Annual Report D. Project Status under the Purchase and Development Agreement with the Boynton Beach Faith Based CDC for the Property located at 402 NW 12th Avenue 9. Announcements and Awards None. 10. Public Comments Mark Karageorge encouraged contacting the Senate to advocate for the 2 CRA Board Meeting Boynton Beach, FL April 8, 2025 CRA's position and noted that the Cottage District project has been in development for a long time and is costly. He urged the Executive Director to continue efforts to secure it. Mack McCray thanked Board Member Turkin for his work on HB 991 and SB 1242 and encouraged him to continue. Susan Oyer spoke about the University of Florida Gators and suggested using the mall location for a potential UF project. Cindy, a resident for 34 years, expressed concern about the Town Square project, stating that if funds are lacking, it should not be built. She opposed the proposed 8-story building, saying it does not fit the character of the City. Gregory Hartmann stated that The Pierce is a great project. Anthony Barber, 229 SW, commented that Mizner Park in Boca Raton was less successful than expected. He stated that while Town Square was not the best deal, it is done, and the CRA needs to move forward with the project. Cindy Falco DiCorrado claimed that previous leadership stole $40 million from the City. Flynn Holland noted that no progress has been made on the Andrews House and requested it be included on the next CRA meeting agenda. Tom Warnke also spoke about the Andrews House, expressing optimism that it could still be saved. Christy [no last name provided], a Boynton Beach resident for 25 years, said that she was happy to see changes in the City but noted that Boynton Beach remains boring. Linda Barton strongly opposed the incentive request by the developer of Item 14C, stating that the project does not make sense for the City and urged the Board not to approve the TIF request. 11. Consent Agenda A. CRA Financial Report Period Ending March 31, 2025 B. Approval of the CRA Board Meeting Minutes for February 11, 2025 C. Approval of the CRA Board Meeting Minutes for March 20, 2025 D. Approval of the Commercial Property Improvement Grant Program in the Amount of $13,667.09 to Home with Help of Florida, Inc. located in Colonial Center at 1220 S. Federal Highway, Unit 1010 E. Approval of the Commercial Business Marketing Grant Program in the amount 3 CRA Board Meeting Boynton Beach, FL April 8, 2025 of $2,500 to Alchemy located in Ocean Plaza at 640 East Ocean Avenue, Suite 18, Boynton Beach, FL 33435 F. Approval oft the Commercial Business Marketing Grant Program in the amount of $2,500 to Bailey's Blendz located in Ocean Palm Plaza at 640 East Ocean Avenue, Unit 16, Boynton Beach, FL 33435 G. Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Dimensional Health Care, located in Casa Costa at 458 North Federal Highway, CU-5, Boynton Beach, FL 33435 H. Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Hip Hip FurRay, located in One Boynton at 1403 South Federal Highway, Boynton Beach, FL 33435 I. Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Property Damage Consultants, located at 125 East Boynton Beach Boulevard, Boynton Beach, FL 33435 Motion: Board Member Turkin moved to approve the Consent Agenda. Board Member Kelley seconded the motion. The motion passed unanimously. Board Member Hay was not present on the dais for the vote. 12. Pulled Consent Agenda tems None. 13. CRA Advisory Board A. Pending Assignments - New Assignments from the CRA Board Assigned at the February 13, 2024 and the January 14, 2025, CRA Monthly Board Meeting B. Reports on Pending Assignments Acting Executive Director Tack stated that there was no quorum at the April 3, 3025 meeting. Board Member Turkin requested an email of who was not present. 14. Old Business A. Discussion and Consideration of Lease Amendment between Boynton Beach CRA and Cafe Barista, Inc. d/bla Hurricane Alley - TABLED ON 03/20/2025 4 CRA Board Meeting Boynton Beach, FL April 8, 2025 Item 14A was heard directly following Item 9. Motion: Board Member Turkin moved to remove the item from the table. Board Member Kelley seconded the motion. The motion passed unanimously. Acting Executive Director Tim Tack, introduced the agenda item. Board Member Kelley asked if there was anything above and beyond what would typically be required with the lease. Mr. Tack responded that it was relatively minimal, estimating the cost at around $1,000 a month or possibly less. He noted that last year an AC unit was replaced but confirmed that there were no outstanding repairs or additional issues at this time. Kim Kelley, Owner of Hurricane Alley, requested to renew the lease for another term at the same rate. Board Member Turkin noted that litigation delayed the project through no fault of Kim Kelley, the CRA, or the City, and without it, Hurricane Alley might already be in a new building. He emphasized that Hurricane Alley has been a staple and anchor for East Boynton Beach, attracting visitors before recent developments, and stated that the City and CRA should support loyal local businesses where possible. Board Member Turkin stated that he was in favor of renewing the lease under the current terms. Board Member Kelley agreed, supporting renewal with no changes to the lease. Vice Chair Hay expressed agreement. Board Member Cruz also stated her support for the renewal as is. Motion: Board Member Turkin moved to renew the lease as requested. Board Member Cruz seconded the motion. The motion passed unanimously. B. Continued Discussion and Consideration of the Purchase of 135 NE 3rd Avenue Mr. Tack introduced the item, noting that the seller had reduced the asking price from $375,000 to $330,000 and agreed to all CRA standard closing conditions. Board Member Kelley thanked Mr. Tack and staff for working with the seller to lower the asking price. 5 CRA Board Meeting Boynton Beach, FL April 8, 2025 Motion: Board Member Kelley moved to approve the purchase of 135 NE 3rd Avenue in the amount of $330,000.00 and have the Purchase and Sale Agreement executed by the Board Chair. Vice Chair Hay seconded the motion. The motion passed unanimously. C. Continued Discussion and Consideration of Tax increment Financing Request from Time Equities Inc. for Phase I and Phase II of the Town Square Project located at 120 SE 1st Avenue and 100 E. Boynton Beach Boulevard Mr. Tack introduced the item, explaining that the Town Square Project is governed by an existing Development Agreement with the City of Boynton Beach. The project includes 898 market-rate rental units, 23,500 square feet of retail space, two parking garages with over 1,000 spaces each, and 473 public parking spaces. Time Equities Inc. (TEI) will make a $2.25 million payment per phase to the City's Workforce Housing Fund in lieu of providing workforce housing. TEI has requested 95% of the tax increment revenue (TIF), up to $35.2 million, split between Phase I and Phase II. Christina Bilenki, on behalf of Bonnie Miskel, introduced herself to the Board. She acknowledged the long history of the Town Square project and clarified misconceptions regarding tax increment financing. She explained that TIF is a tool allowing a portion of city and county tax revenues generated by new development to be directed to the CRA for redevelopment purposes. She emphasized that these funds are not taken from other projects but are only realized after the developer fulfills all obligations and completes the project. Ms. Bilenki highlighted the significant public bénefits, including 473 public parking spaces valued at approximately $26 million, which the developer will construct. She noted that the City will lease these spaces at no cost for 100 years and share in the parking revenue. Board Member Turkin noted that the terms were decided years ago. Ms. Bilenki stated that the City's consultant confirmed a $35.2 million funding gap for the Town Square project, justifying the TIF request. She noted that TIF approval is needed for financing, with Goldman Sachs ready to proceed once approved. Ms. Bilenki highlighted the project's ong-term economic impact, including $80 million in annual local spending and 340 permanent jobs. Ms. Bilenki also outlined additional developer commitments including a $200,000 contribution for relocating the Andrews House, discounted rent for 4,000 square feet of commercial space for local businesses and allowing city events on the parcels until construction begins. She emphasized that these proffers show the developer's commitment to supporting the community. 6 CRA Board Meeting Boynton Beach, FL April 8, 2025 Board Member Turkin reviewed the history of Town Square, calling the $35 million request a bad deal. He stated that he could not agree to the current terms. Mr. Rob Singer, from Time Equities Inc. stated that market conditions had worsened, creating a funding gap. He explained that the TIF request aligns with TEl's commitment to Boynton Beach and would allow the project to move forward sooner. He added that if no gap exists for Phase II, no TIF would be requested. Board Member Cruz expressed frustration with the history of Town Square, citing repeated disappointments and significant financial losses from prior deals. She emphasized that public parking was the only clear benefit and stressed that taxpayer funds should be prioritized for community decisions. Vice Chair Hay agreed with Board Member Cruz, stating that he could not support giving away taxpayer money. Board Member Kelley noted that the developer had engaged with the public and made adjustments based on feedback. She clarified that TIF funds cannot be used for city services and are governed by Florida Statute to stimulate economic growth. Mr. Singer reiterated that TIF would resolve the funding gap, warning that rejecting the request could leave the property undeveloped. Chair Shelton stated that she lives near the project and read emails into the record supporting it. She emphasized the need for due diligence and noted that Mr. Singer was being unfairly judged for past failures unrelated to him. Board Member Turkin stated he was open to tabling the item and willing to negotiate but remained firm on public parking requirements. Chair Shelton added that removing the police presence from downtown would be a mistake and suggested a substation. Mr. Singer clarified that no rezoning had occurred, and that existing zoning was being used. Board Member Kelley acknowledged the high cost but expressed conditional support. She requested commitments for internships, local hiring, open workspace in commercial areas, contributions to the Workforce Housing Fund, and the inclusion of local artwork. Vice Chair Hay stated that the board was trying to secure the best deal but remained cautious due to past experiences. He wanted broader community input, noting that current feedback was not representative of Boynton Beach's 82,000 residents. 7 CRA Board Meeting Boynton Beach, FL April 8, 2025 Board Member Cruz agreed that changes were needed to make the project more acceptable to the community and believed improvements could be made without major delays. Board Member Turkin stressed that changes should have been made two years ago and insisted on finding a compromise, noting that project delays increased costs for TEI. Mr. Singer responded that public benefits had already been agreed upon upfront. Chair Shelton opened public comment. Cindy Falco DiCorrado opposed the project's location, suggesting it be moved to the mall. She criticized the focus on money and suggested TEI could sell the property. Mack McCray urged the board to let the developer proceed and stop blaming past leadership. Christy [no last name provided] supported the project, stating it would benefit local businesses. Mark Karageorge agreed the City should move forward but opposed the $35 million TIF request. Linda Barton believed another buyer would develop the property without such incentives. Anthony Barber encouraged collaboration to find a solution. Alison Sullivan highlighted the impact of blight and urged progress. Barbara Ready criticized the lack of public input and warned against overdevelopment. Lauren Gable stated that height and density were already approved and unchangeable. Flynn Holland argued that the area became blighted due to neglect and questioned TEI's ability to proceed without $35 million. Board Member Kelley welcomed virtual comments. Jake Harrington supported TEl's commitment to developing downtown Boynton. Angela Troyanowski called for clearer commitments on retail components. Susan Geary thanked the board for tabling the item and encouraged community 8 CRA Board Meeting Boynton Beach, FL April 8, 2025 engagement. Chair Shelton closed public comment. Board Member Turkin stated there was no urgency to decide that night and suggested incorporating a grocery store. Mr. Singer warned that altering the master plan could jeopardize the project. Board Member Cruz supported Board Member Turkin's desire to work on this more within his district. Ms. Rossmell further explained about appointing Board Member Turkin as a representative to engage in negotiation. Vice Chair Hay recommended tabling the item and stated he did not want a single representative speaking for him. Motion: Board Member Turkin moved to table the item. Vice Chair Hay seconded the motion. The motion passed unanimously. D. Continued Discussion and Consideration of the Second Amendment to the Purchase and Development Agreement between the CRA and BB QOZ, LLC for the 115 N. Federal Highway Mixed Use Project (The Pierce) Item 14A was heard directly following Item 14D. Mr. Tack introduced the item. Ms. Rossmell explained that the CRA typically requires financial assurances before transferring property, but the developer proposed providing those assurances after closing, with a reversion clause allowing the CRA to reclaim the property if project milestones are not met. Additional protections include the developer covering attorney fees if legal action is needed. She noted this is an unusual process but balances legal and financial concerns. The options are to proceed under the current contract with assurances or accelerate closing with safeguards in place. She added that Mr. Burns and his team were available for questions. Board Member Kelley inquired about the project deadline. Ms. Rossmell responded that there is a closing date deadline, with construction required to begin within 36 months. Board Member Turkin asked about the utility delays. Jeff Burns, Affiliate Development, 9 CRA Board Meeting Boynton Beach, FL April 8, 2025 explained that FPL lines must be placed underground and sewer repairs are needed along North Ocean Boulevard. He stated that it does not make sense to invest in utility work on property they do not yet own. Board Member Turkin asked if this would accelerate Hurricane Alley's relocation. Mr. Burns confirmed that construction on the new location would begin before demolishing the existing business. Vice Chair Hay asked if the utility issue was unforeseen. Mr. Burns confirmed it was. Vice Chair Hay commented that it appeared the developer wanted the CRA to cover the costs. Mr. Burns clarified that they were willing to pay for the utility work. Vice Chair Hay stated that he wanted stronger assurances. Ms. Rossmell noted that a reverter clause in the agreement allows the CRA to reclaim the property if necessary, and the developer would be responsible for attorney fees if the CRA prevails in any legal action. Mr. Burns added that FPL work would proceed quickly after closing. Vice Chair Hay expressed concern, noting past experiences where revert clauses failed to protect the CRA. Mayor Shelton asked why the project had been removed from FPL's schedule. Mr. Burns explained that they could not provide a start date, leading to removal. Ms. Rossmell clarified that any preconstruction work would not be funded by the CRA. Board Member Kelley asked if the 36-month deadline was flexible. Mr. Burns stated that the date is a firm end date designed to account for unforeseen delays. Ms. Rossmell read the exact language from the sales agreement. Board Member Kelley inquired about ongoing updates. Mr. Tack confirmed that quarterly updates would continue once the project begins. Board Member Cruz asked about the project completion date, and Ms. Rossmell responded that it is set for 2032. Board Member Cruz also asked what conditions would trigger the reverter clause, and Ms. Rossmell outlined several scenarios where it could be enforced. Chair Shelton opened public comment. Cindy Falco DiCorrado spoke about a conflict of interest and police and firefighter pensions tied to this project. Mack McCray stated that they have sat on this project too long and wished them luck. No virtual comment. 10 CRA Board Meeting Boynton Beach, FL April 8, 2025 Chair Shelton closed public comment. Motion: Vice Mayor Hay moved to approve the draft second amendment, as presented, subject to legal review. Board Member Turkin seconded the motion. The motion passed unanimously. 15. New Business None. 16. CRA Projects in Progress A. MLK Jr. Boulevard Corridor Mixed-Use Project Update (d/b/a Heart of Boynton Shops) B. CRA Economic & Business Development Grant Program Update C. Social Media & Print Marketing Update D. Boynton Beach Spring Market Recap 17. Future Agenda Items 18. Adjournment There being no further business to discuss, the meeting was adjourned at 9:25 P.M. lammek L Momtaie 5 Tammy Slanzione/CMC Deputy City Clerk 11