Loading...
HomeMy Public PortalAbout11-13-2020 Agenda with back-upO N O N W. N h 41 �A JJ • H Fl O In 4.) rd x rd J, r= ri 0 0 v�iHwhQ LT 0 0 }H H I �l O H � w x W o p ON WO W cV �Nw w�0 z W W W � r� > O r� x Z U H u z x 0 H O h a a r14 zD w w U C7 rii G4 Cl) H��aa w 0 a u x H H N U r. .H W v r-I r--i 44 O N rn a� r� W H H I O N O N I 4J O J, N 5 N rl rd rd O 4d N `o s U? bl M Fr U C O O O JJ M JJ •• 0 0 0 0 0) w (d rdO) ..o ..o -W Ol •• Ol •• JJ O (d rl 41) Ol Ol rd O r-♦ O (d JJ (d JJ r I N N N H rd (d N O N rl H O N - O N ri N r-I N rl N N O N O N H � H N O N O 00 N N 1` U N >+ � H Ol • ,-i H ` U M � � r r� Q h w Id 9 rd rd ft h hF:4 O Pi' H N M di In lO r� 00 Ol a� �i`� O (d v `r4 r Q � pq U 00 a� 00 �Ln rd 44 r1 O p k U U) ri H -H 4J ri U E a 00 U JJ O N M -r( W rd h rd ww(n 00 O I 4a H l o M 44 JJ O il 0 O �-I O m (d i 44 O td m (d J, M44 -ri U rd -ri H N O Q 04 (� F:� w L7 U x •,� '� JJ P4 rl N M 0 Q) 4 �4 H U rl U1 rX4 •rl �4 4-) (d O U] G' 0 4-j N O O r-I PQ 0 O U U t > M (-M O M F: , Q (d tJl t31 r I . ri (d • ri U JJ _ O0 00 .. 00 O O 00 (d r I �i J-) JJ O 41 M M a) 1 �1 r-I (d (d (d JJ (d 00 00 M �Ow OO � �1�x HJ,J,OD N N r-I N (d (d J>1 3 U O O N A-)O J N N O N H H (d ro -H O �j N N N O�-4 rd H p�-4 3 . O O ri �4 N O "1 .0 � M N N N (d Pi Q O M Ul H r-♦ 00 N O U N N 0 Q) 1 U 0.i JJ 4J >, �4 N N 'D r-j -H r--♦ rd ;j 4 H N �4 �- O (d N N �4 U -H J� N N U M W 0 w t w rd 0a (d -r-I J, -o U (d N z Q 17 G4 X FC r-I rd (d O r-I rA U JJ r I O p., i U N �D �D �:) r 4 P' H (d A U U 4J M 3 U 4-) . OH H N M 'd m w 9 r-I Q4 pq Q w 9 x w OQ�>iUO O o x z w N W co 3 Ul O x 0 x H W v H H O pQ H P4 W N E-A P4 W OU w W 04 H FC Ei W b� D PQ v x w OOAH 0mU�iz� o �x wz124 M HEiowH H z Q A Q O 0 0 z z �� v >iW�awa vrd o v ) 9zz�W FC HQ�D D H z w W O H G4 z p U O 4 1:4 W �-+ v� U v -11 b1 � v Pa U Q O W O OW � COo O N w P� FC E-i 4-4 v . H W U > 00 � P� Q Pi rH H M O0 H 0 O w rd 0 � O9 _ Ei wH w� o u awgQ H ° H C7ww �Qavi r= x a H O N }j O U O � rN-I EPi PDQ x EHi U) U Cwll Exi � N O N �4 O W w J-) O (d '>q F4 9 O \ O fx O O N N O P- N p Pi O O Pq X Ln �n N W _ a N N U L m • D O M� W p o U O O >1 Pa Q W Ei r-I C N O I z o Q z N U O> W Pa -� _� Ga O H Q W U FC Ei �o h f Q U O O FC w L7 � 5�l Ei W U UU � Hpq 3� G4 a) O O .1 pO O ,� 4-4 O P4 W> H � v Ei Ei W W w U) O W W Pa z O (d -ri Pa 04 H �4 71 z H H S w z� P4 Q G4 w� ar-i P' Exi P4 CW7 a PQ FC o a O F H z U Q H FC PQ U Q w H H 0 w E-A P; Ei PQ O X wO Z c °aPQMz MINUTES OF THE REGULAR MEETING AND PUBLIC HEARING BEING HELD BY THE TOWN COMMISSION, OF THE TOWN OF GULF STREAM ON FRIDAY, OCTOBER 9, 2020 AT 9:00 A.M., IN THE WILLIAM F. KOCH, JR. COMMISSION CHAMBERS OF THE TOWN HALL, 100 SEA ROAD, GULF STREAM, FLORIDA. I. Call to Order Mayor Morgan called the meeting to order at 9:00 A.M. II. Pledge of Allegiance Mayor Morgan led the Pledge of Allegiance. III. Roll Call Present and Participating: Scott W. Morgan Mayor Thomas W. Stanley Vice Mayor (via conference call) Joan Orthwein Commissioner Donna S. White Commissioner Also Present & Participating: Absent w/Notice: IV. Minutes Gregory Dunham Edward Nazzaro Edward Allen Rita Taylor Paul A. Lyons, Jr. Town Manager Asst. Town Attorney Police Chief Town Clerk Commissioner A. Regular Meeting of September 11, 2020 B. Budget Hearing of September 11, 2020 C. Final Budget Hearing of September 22, 2020 Commissioner Orthwein made a motion to approve the minutes of the regular meeting on September 11, 2020, the budget hearing on September 11, 2020 and the final budget hearing on September 22. The motion was seconded by Commissioner White with all voting AYE at roll call. V. Additions, withdrawals, deferrals, arrangement of agenda items Item X. A. Undergrounding Project Conduit Installation was withdrawn and replaced by Urban Design Kilday Comprehensive Plan Use. VI. Announcements A. Regular Meetings and Public Hearings 1. November 13, 2020 at 9:00 A.M. 2. December 11, 2020 at 9:00 A.M. 3. January 8, 2021 at 9:00 A.M. 4. February 12, 2021 at 9:00 A.M. 5. March 12, 2021 at 9:00 A.M. VII. Communication from the Public (3 min. maximum) Mr. Bob Burns, Town of Gulf Stream resident, stated the contractors on the AlA water main were doing an outstanding job. He added they are very cooperative, don't leave trash laying around and he Minutes of Town Commission Regular Meeting & Public Hearing Held October 9, 2020 @ 9:00 A.M. wanted to commend them on the work they are doing. Mr. Burns then asked if the sewer work and re -paving of the roads in the Core was going to all be done at the same time and wanted to know the status on those things. Mayor Morgan answered that when the sewers were done, the roads would be done at the same time. Mayor also gave credit to Town Manager Dunham stating that he was in contact with the contractors daily regarding the AlA project. VIII. Public Hearing. A. Applications for Development Approval 1. Little Club-100 Little Club Road a. Declaration of Ex-Parte Communications Vice Mayor Stanley recused himself stating he had a voting conflict. Mayor Morgan stated that he had met with Ros Curtis. b. Administer Oaths Mr. Ros Curtis, Mr. Rob Lehner and Mr. Joe Gomes were sworn in by Town Clerk Taylor. c. An application submitted by Attorney Thomas Murphy, Jr. and Architect Keith Spina as Agents for the owners of property located at 100 Little Club Road, Gulf Stream, Florida, which is legally described in metes and bounds in Section 3, Township 46 South, Range 43 East. (1) VARIANCE to permit the extension of the west side of the existing building to the west property line, a distance of approximately 10' further into the required side setback. (2) LEVEL 3 ARCHITECTURAL/SITE PLAN REVIEW to permit the renovation of the existing kitchen and the 745 sq. ft. addition on the west side of the kitchen, an employee area to house employee lockers, restrooms/changing rooms, and a small lounge. Mr. Ros Curtis, President of The Little Club, stated his role as president was to ensure that the club is doing all they can to enhance the experience for their members and to provide great working conditions for their staff. He added the club lacked a staff break room, a place for them to eat meals and adequate staff restrooms. To do this, Mr. Curtis stated they would need the Commission's approval to fully enclose a partially enclosed area on the western side of the kitchen. He then turned the presentation over to Mr. Joe Gomes, representing SpinaORourke & Partners. Mr. Gomes showed pictures of the existing area and then the current plan. He explained that they had taken a lot of time to hide as much of the equipment as possible by creating wells on the roof and they would be screening any remaining equipment. Mr. Gomes explained that all water would be captured within 2 Minutes of Town Commission Regular Meeting & Public Hearing Held October 9, 2020 @ 9:00 A.M. their site so as not to run onto the neighboring property. Mayor Morgan referred to a letter received from a resident of Las Casitas and asked who would own and maintain the wall. Mr. Curtis stated that Las Casitas owned the wall, it was on their property and they would maintain their wall. He added that The Little Club would be building a new western wall that would be adjacent to the existing wall but on their property. Mayor Morgan asked why the air conditioning units had been moved to which Mr. Gomes answered that they were currently on the ground and unsightly so they were moving them to the roof area where they could screen them and they would be easier to maintain. Mr. Gomes stated there would be a gap between the two walls. Mayor Morgan stated there had also been a question about ventilation and wanted to know where that was being located and what was being done to make it less sightly. Mr. Gomes explained there were three hoods, one being a dishwasher hood and the other two for cooking. He stated they were screening them and moving them to the northern and western portion of the addition. Mayor Morgan stated he had been to the site and the improvements made sense to him. Commissioner White asked if there needed to be any repairs or painting done in between the two walls how was that going to be handled. Mr. Gomes stated it was a block wall that wouldn't need any maintenance and they planned on, with the permission of the neighbors, putting an aluminum cap between the two walls to get rid of any leaves and debris falling and to reduce maintenance. Mrs. Cuppy Kraft stated she was glad to know they would be capping the gap between the walls as she was worried about rats and things nesting between the two walls. Mayor Morgan asked Mrs. Kraft if they had addressed her concerns to which she answered in the affirmative. Commissioner Orthwein made a motion to approve a variance from the provisions in Section 66-260 to permit the extension of the west side of the building to the west property line, approximately 10' further into the required side setback. The motion was seconded by Commissioner White with all voting AYE at roll call. Commissioner Orthwein made a motion to approve a Level III Architectural/Site Plan to permit the renovation of the existing kitchen and the 745 sq. ft. addition on the west side of the kitchen, and employee area to house employee lockers, restrooms/changing rooms and a small lounge. The motion was seconded by Commissioner White with all voting AYE at roll call. Mrs. Kraft then stated that they appreciated everything that Town Clerk Taylor, Town Manager Dunham, and Mr. Ros Curtis had done to accommodate them. IX. Reports. A. Town Manager 1. Utility Undergrounding 3 Minutes of Town Commission Regular Meeting & Public Hearing Held October 9, 2020 @ 9:00 A.M. Town Manager Dunham stated that he received an e-mail from Jeanine McEnroe at Comcast stating that letters would be going out on 10/9/2020 to their existing customers letting them know they needed to make an appointment. He added the Town was still working through issues with AT&T. 2. Update-AlA Water Main Project Town Manager Dunham stated they are on schedule for completion the last week of October. He added they had begun work in the Core and reminded everyone that they would be taking that in sections beginning at Old School and Polo. Mayor Morgan asked what would happen in regards to paving AlA when they were finished with the work to which Town Manager Dunham stated they would be re -paving the southbound lane with a new lift of asphalt and then restore all the damage they had done in the right of way. B. Architectural Review & Planning Board 1. Meeting Dates a. October 22, 2020 at 8:30 A.M. b. November 19, 2020 at 8:30 A.M. c. December 17, 2020 at 8:30 A.M. d. January 28, 2021 at 8:30 A.M. e. February 25, 2021 at 8:30 A.M. Mayor Morgan called attention to the dates for the ARPB meetings. C. Finance Director 1. Financial Report for September 2020 Town Manager Dunham stated the report represented the end of the fiscal year. D. Water Usage as of September 2020 Town Manager Dunham stated there was nothing unusual. E. Police Chief 1. Activity for August 2020 Chief Allen asked that the report be accepted as submitted. He added they had been interviewing a police officer who had been with the Florida Highway Patrol for 25 years and they were in the background check process of his application and if all went well he should be on the Gulf Stream Police Force within two weeks. Mayor Morgan accepted all reports as submitted. X. Items for Commission Action A. Urban Design Kilday Comprehensive Plan Town Manager Dunham stated that the Department of Economic Opportunity (DEO)had sent out an edict to towns and municipalities requiring that the coastal management element be updated in the plan. He added it would be required to include the development and redevelopment, principles, strategies, and engineering solutions that reduce the flood risk in coastal areas which result from high tide 51 Minutes of Town Commission Regular Meeting & Public Hearing Held October 9, 2020 @ 9:00 A.M. events, storm surge, flash floods and stormwater runoff. It also encouraged the use of best practices development and redevelopment principles, strategies, engineering solutions that would result in removal of coastal real property from flood zone designations, identify site development techniques in best practices that may reduce losses due to flooding and claims made under flood insurance policies, he said. Town Manager Dunham went on to say the plan needed to be consistent with, or more stringent than, the flood resistant construction requirements in the Florida Building Code and applicable floodplain management regulations, and encourage local governments to participate in the National Flood Insurance Program. Town Manager Dunham stated that the Town already had a comprehensive plan that had a coastal management element in it but is going to be required to update it to meet the policy upgrades. He stated they needed to get authority from the Commission to engage Urban Design Kilday since they are the company who created the plan for the Town and are familiar with the plan. Town Manager Dunham stated that it shouldn't exceed $12,000 and added it would go to the ARPB first, then the Commission for first reading and then on to the State for their review and then back to the town for second reading. Commission Orthwein made a motion to engage Urban Design Kilday to update the Comprehensive Plan. Commissioner White seconded the motion with all voting AYE at roll call. B. Items by Mayor & Commissioners Commissioner Orthwein wanted to know about the new construction that was going up on Old School Road and asked if the demolition was going to happen before the season to which Town Manager Dunham stated they had better get it done. Commissioner Orthwein clarified her question by saying she was concerned about the seawall, which couldn't be done during season. She was also concerned about neighboring properties with different size seawalls. Town Clerk Taylor stated that the neighbors all received notices before the plans were approved and the architects are constantly reminded when the season begins. Mayor Morgan stated he would like to raise the expenditure authorization limit from $10,000 to $15,000 for the Town Manager. He suggested it be raised to $15,000 to help expedite projects, especially since the Town is in the middle of a CIP project. Commissioner White agreed stating things are more expensive now and it seemed logical to raise the limit. Commissioner Orthwein made a motion to increase the authorized limit for expenditures from $10,000 to $15,000 for the Town Manager. Vice Mayor Stanley seconded the motion with all voting AYE at roll call. Mayor Morgan started a discussion regarding Little Club Road and wanted the Commissioners to be thinking about the Town taking it over and making it a public road instead of private. He added that 5 Minutes of Town Commission Regular Meeting & Public Hearing Held October 9, 2020 @ 9:00 A.M. it is owned by multiple entities and he thought it would be better maintained if it were owned by the Town. Commissioner Orthwein was worried that it may encourage additional requests for other private roads to become the Town's responsibility. Vice Mayor Stanley stated that it was the only private road that had a private club and two multi- family housing developments, so it was a little burdensome as a private road than other private roads in town. Mayor Morgan asked everyone to give it some thought, and he would bring it up again at the next meeting. He then said congratulations were in order for Vice Mayor Stanley's wife, Kirsten, for winning the Boca Ballroom Dance Battle for the George Snow Scholarship Fund and added how exciting it was to watch. XI. Adjournment. Mayor Morgan adjourned the meeting at 10:01 A.M. Renee Basel Assistant Town Clerk 1.1 INTER -OFFICE MEMORANDUM TOWN OF GULF STREAM, FLORIDA OFFICE OF THE TOWN MANAGER GREGORY L. DUNHAM DATE: November 6, 2020 TO: Mayor Morgan and Town Commissioners RE: Application for Abandonment of Banyan Rd. right-of-way at 588 Banyan Rd Earlier this year, the owners of 588 Banyan Road, James and Nadia Davis, sent an application to the Town for the abandonment of the portion of Banyan Road that is surrounded on three sides by their property. The Town Commission informally adopted a procedure at the June 12, 2020 Commission meeting utilized by the Town of Palm Beach whereby a portion of the fee associated with an abandonment application includes a "privilege fee" that is detennined by computing the total land value of the petitioned site. If the Town abandons this portion of the road, indicated on the enclosed survey, it would become part of the Davis' property at 588 Banyan Road, increasing the property by 2,500 square feet, providing relief from setbacks along the northeast corner of the lot, and allowing an additional 500 square foot home (from 8,220 currently permitted to 8,720) according to the Town's floor area ratio ordinance. One of the reasons the lot is larger and why the road protrudes into the property is that the original lot at the end of Banyan Road was combined with the southern 50 feet of the lot directly north of the property. However, the addition of 2,500 square feet will not make the lot large enough to subdivide in the future based on the Town's current minimum size for lots in the Core district. After a visit to the property, I do not believe abandoning the road would have any adverse impact to the Town or the ability of emergency vehicles to navigate Banyan Road. Included in the materials for this item are 1 — the Davis' Application submitted by Blaine Dickenson, Esq.; 2 — a survey conducted by the Town; 3 — a letter signed by James and Nadia Davis offering to pay a privilege fee of $200,000 as part of the abandonment; and 4 — an appraisal of the property by Robert B. Banting of Anderson & Carr, Inc. placing the value at $525,000. LAW OFFICES DICKENSON LAW, P.A. Dickenson, Murphy, Rex and Sloan A PARTNERSHIP OF PROFESSIONAL CORPORATIONS DICKENSON REX AND SLOAN, P.A. DICKENSON LAW, P.A. T. N. MURPHY, JR. P.A. LAW OFFICE OF ROBERT H. REX, P.C. BARBARA A. SLOAN, P.A DAVID B. DICKENSON I T.N. MURPHY, JR. ROBERT H. REX 2 BARBARA S. SLOAN 3 BLAINE C. DICKENSON I CERTIFIED IN REAL ESTATE BY THE FLORIDA BAR BOARD OF CERTIFICATION 2 MEMBER FLORIDA AND TEXAS BARS 3 MEMBER FLORIDA AND NORTH CAROLINA BARS May 27, 2020 Rita Taylor Town of Gulfstream 100 Sea Road Gulf Stream, FL 33483 Sent via email to: rtaylor@gulf-stream.orQ 250 N.W. 4' Diagonal Boca Raton, Florida 33432 Hill Country Cralleria 2600 Hill Country Blvd., Suite R-275 Austin, Texas 78738 Florida Telephone: (561) 391-1900 Florida Fax: (561)391-1933 Texan Telephone: (512) 329-2870 Texas Toll Free: (877) 224-3199 Email: dbd@dmrslaw.aom mm@dmtslaw.com rhC"mrslaw.com bas(omrslaw.com bcd@dmrstaw.com wwwAmrslaw.com Re: Application for Abandonment of Banyan Road right-of-way at James R. Davis, Jr. Residence/588 Banyan Road Dear Ms. Taylor: Attached please find an application to the Town of Gulfstream for the abandonment of a portion of the Banyan Road right-of-way that intrudes into my client's property. The portion we are requesting to be abandoned is an unnecessary portion of Banyan Road and serves only my client's property. There remains more than enough room form emergency vehicles to operate and serve the adjacent lots. Essentially, no one ever uses the subject portion of the road right-of-way. My client has no current plans to build a new house at this time. However, he may do so in the future. Our main concern and the reason for this application is the awkwardness of the road right-of-way extending into my client's property and the attendant safety and trespassing concerns. Please feel free to contact me with any questions or concerns, or if you need any additional information. r Dickenson, Esq. asy TOWN OF GULFSTREAM PLANNING AND ZONING DEPARTMENT APPLICATION FOR ABANDONMENT OF RIGHT-OF-WAY Project Name: Davis Residence Description of Right of way: See Exhibit "A" attached hereto APPLICANT INFORMATION: APPLICANT Name: James R. Davis, Jr. Address: 588 Banyan Road, Delray Beach, FL 33483 Telephone: 561-573 -8273 AGENT Name: Blaine C. Dickenson, Esq. Address: 250 NW 4`h Diagonal, Boca Raton, FL 33432 Telephone: 561-391-1900 Fax: 561-391-1933 PROPERTY INFORMATION: Email: bed@dmrslaw.corn Legal Description of the Area to be Abandoned: Beginning at the Southeast comer of Lot 2, Polo Cove, according to the plat thereof, as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida; thence North 50.0 feet along the East property line of said Lot 2; thence East 50.0 feet to the West line of Lot 2A; thence South along the West line of Lot 2A for 50.0 feet; thence West along the North line of Lot 1 for 50.0 feet to the Point of Beginning. Existing Condition of Right-of-way (i.e. improved/unimproved is it being utilized for access): Asphalt roadway used for access to 588 Banyan Road, Delray Beach, FL 33483 only. Intended Use of the Right-of-way: The area to be abandoned is adjacent to Applicant's property on three sides and intrudes into Applicant's lot. It will be used as a driveway into Applicants property. OMrNER'S CONSENT 1, James R. Davis, Jr. as Trustee of the James R. Davis, Jr. Revocable Trust dated December 14, 2017, the fee simple owner of the following described property: Lot 1 and the South 50 feet of Lots 2 and 2A, Polo Cove, according to the Plat thereof, as recorded in Plat Book 24, Paee 73 of the Public Records of Palm Beach County, Florida. hereby petition to the Town of Gulf Stream for the abandonment of right-of-way for abandonment of right-of-way herein described and understand that in the event this abandonment request is granted, I shall receive and be responsible for, property obtained pursuant to the abandonment Davis Residence I certify that I have examined the application and that all statements and diagrams submitted are true and accurate to the best of my knowledge. i consent to inspection and photographing of the subject property by the Planning and Zoning Department Staff for purposes of consideration of this application and/or presentation to the approving bo)Ci' Further, I understand that this application, attachment and fees become part of the O I Records of the Town of Gulfstream, Florida, and are not returnable. James R. Dav, Jr., Individually, and as Trustee of the James R. Davis, Jr. Revocable Trust dated December 14, 2017 STATE OF FLORIDA COUNTY OF PALM BEACH Swo and subscribed before me by means o physical presence or n online notarization, thi day of AMAy- ___2020 by James R. Davis, Jr., Indivi ally, and as Trustee of the James R. Davis, Jr, Revocable Trust dated December 14, 2017,vAo is personally known to me or who has produced as identificatyon. ..r KATHY S. FERRUGGIA 'IfMY COMMISSION # OGD16144 FAM Juty 27, 2020 My Commission Expires: a i ju'� ab w I, James R Davis, Jr. as Trustee of the James R. Davis, Jr. Revocable Trust dated December 14, 2017, the fee simple owner of the following described property: Lot 1 and the South 50 feet of Lots 2 and 2A, Polo Cove, according to the Plat thereof, as recorded In Plat Book 24, Poe 1 of the Public Records of Palm Beach County, Florida. hereby affirm that Blaine C. Dickenson, Esq is hereby designated to act as agent on my behalf to accomplish the above. I certify that I have examined the application and that all the statements and diagrams submitted are true and accurate to the best of my knowledge. Further, I understand that this application, attachments and fees become part of the Official Records the Town of Gulfstream, Florida and are not returnable. James R. Davis, Jr., Individually, and as Trustee of the James R. Davis, Jr. Revocable Trust dated December 14, 2017 STATE OF FLORiDA COUNTY OF PALM BEACH Sworn W and subscribed before me by means of S.0/11ysical presence or o online notarization, thise day of MA.LE 2020 by James R. Davis, Jr., Indivi ally, and as Trustee of the James R Davis, Jr. evocable Trust dated December 14, 2017,41io is personally known to me or who has produced as identificauon� — ---- '`'"a KATHY S. FERRUGGfA taSY COMMISSION # GG016144 ' EXPIRES July 27, 2020 —.-SEAL My Commission Expires: a�-.�fl(21o010 Before me, the undersigned authority personally appeared, James R. Davis, Jr, who being by me first duly sworn, deposes and says: 1. That the accompanying property owner list is, the best of my knowledge, a complete and accurate list of all property owners' names, mailing address and legal descriptions of all property lying within five hundred feet (500') of the subject property as recorded on the Iatest official County tax rolls. 2. That the subject property is legally described as follows: Beginning at the Southeast comer of Lot 2, Polo Cove, according to the plat thereof, as recorded in Plat Book 24, Page 7�, Public Records of Palm Beach County, Florida; thence North 50.0 feet along the East property line of said Lot 2; thence East 50.0 feet to the West line of Lot 2A; thence South along the West line of Lot 2A for 50.0 feet; thence West along the North line of Lot 1 for 50.0 feet to the Point of Beginning. James R. Da . r., Individually, and as Trustee of the James R. Davis, Jr. Revocable Trust dated December 14, 2017 STATE OF FLORIDA COUNTY OF PALM BEACH SwNaY nd sub 'bed before me by means of la physical presence or ❑ online notarization, of 2020 by James R. Davis, Jr., Indivij�Nally, and as Trustee of the lames R. Davis, Jr. evocable Trust dated December 14, 2017,�}�O is personally known to me or who has produced __. as identification. KATHY S. FERRUGGIA MY COMMISSION S GG016144 • S& IRES July 27. 202o My Commission Expires: t ..s I Z. , LAW OFFICES DICKENSON LAW, P.A. Dickenson, Murphy, Rex and Sloan A PARTNERSHIP OF PROFESSIONAL CORPORATIONS DICKENSON REX AND SLOAN, P.A. DICKENSON LAW, P.A. T. N. MURPHY, JR. P.A. LAW OFFICE OF ROBERT H. REX, P.C. BARBARA A. SLOAN, P.A DAVID B. DICKENSON I T.N. MURPHY, JR. ROBERT H. REX 2 BARBARA S. SLOAN 3 BLAINE C. DICKENSON I CERTIFIED IN REAL ESTATE BY THE FLORIDA BAR BOARD OF CERTIFICATION 2 MEMBER FLORIDA AND TEXAS BARS 3 MEMBER FLORIDA AND NORTH CAROLINA BARS TITLE CERTIFICATE 250 N.W. 411 Diagonal Boca Raton, Florida 33432 Hill Country Oalleria 2600 Hill Country Blvd., Suite R-175 Austin, Texas 78738 Florida Telephone: (561) 39I-1900 Florida Fax: (56)) 391-1933 Texas Telephone: (512) 329-2870 Texas Toll Free: (877) 224-3199 Email: dbd@dmmiaw.com tom@dmrslaw.com rhr@dmrslaw.com bas@dmrslaw.com bcd@dmrslaw.com www.dmrslaw.com Re: 588 Banyan Road, Delray Beach, FL 33483/Banyan Road right-of-way The undersigned has reviewed the Chain of Title and the Public Records through May 13, 2020 and finds that the following described property is presently vested in Town of Gulf Stream subject to the rights of the public as per Plat dedication by Plat recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. (the "Property"): Parcel Description: Beginning at the Southeast corner of Lot 2, Polo Cove, according to the plat thereof, as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida; thence North 50.0 feet along the East property line of said Lot 2; thence East 50.0 feet to the West line of Lot 2A; thence South along the West line of Lot 2A for 50.0 feet; thence West along the North line of Lot 1 for 50.0 feet to the Point of Beginning. As of the date of the Title Report May 13, 2020, the Property was encumbered by the following mortgage (if applicable): None The Property is further encumbered by the following exceptions to title: 1. All matters contained on the Plat of Polo Cove, as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 2. Master Declaration of Covenants and Restrictions containing Easements recorded in O.R. Book 6795, Page 667, as affected by Short Form Declaration of Covenants and Restrictions recorded in O.R. Book 7329, Page 1703, Public Records of Palm Beach County, Florida. 3. Easement Deed in favor of Gulf Stream Homeowners Improvement Association, Inc. for underground utility lines, pipes, wires and other works necessary to provide underground sewage collection and transmission facilities, and for operation, repair, replacement and maintenance of same, recorded in 0. R. Book 6727, Page 55, Public Records of Palm Beach County, Florida. 4. Agreement with the Town of Gulf Stream in regard to the construction of an entry fence/wall within the right of way of Banyan Road recorded in O.R. Book 5946, Page 1633, Public Records of Palm Beach County, Florida. This Certificate of Title is prepared and provided to the Town of Gulfstream, Department of Planning and Zoning for the purpose of abandoning right-of-way on Banyan Road and for no other purpose whatsoever. The Town of Gulfstream and the Department of Planning & Zoning shall be entitled to rely upon the Certificate of Title the purpose of abandoning right-of-way for this Property. Dickenson, Esq. SKETCH AND DESCRIPTION BEGINNING AT THE SOUTHEAST CORNER OF LOT 2 OF "POLO COVE" ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 24, PAGE 73 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA, THENCE NORTH 50.0 FEET ALONG THE EAST PROPERTY LINE OF SAID LOT 2; THENCE EAST 50.0 FEET TO THE WEST LINE OF LOT 2A; THENCE SOUTH ALONG THE WEST LINE OF 2A FOR 50.0 FEET; THENCE WEST ALONG THE NORTH LINE OF LOT I FOR 50.0 FEET TO' THE POINT OF BEGINNING. THE NORTH 50' BANYAN ROAD '6 S OF LOT 2 `� N 90'00'00" E 50.00' � `$ THE SOUTH 50' ' t OFLOT2 Z � � 110.00' 1090' Ij-- P.o.e. S 90*00*O ' W 50.00' THE SOUTHEAST CORNER OF LOT 2 1 LOT 1 8 R � ` NOTE: THIS IS NOT A SKETCH OF SURVEY, IT IS ONLY THE GRAPHIC REPRESENTATION OF THE DESCRIPTION DEPICTED HERON. PROPERTY ADDRESS: 588 BANYAN ROAD, DELRAY BEACH, FL. 33483 PREPARED FOR: JAMES R. DAVIS JOB # 2"2256 DATED: 511412020 ALL COUNTY SURVEYORS P SURVEYO RS LICENSE NO. OFFICE: (954)177-4 _ ^ FAX: (954) fi77-270 54M SOUTH UNIVERSITY DRIVE DAVE, FLORIDA 33328 Slfl-TE 216 Stamm, JULK) S. PITA PROFESSIONAL SURVEYOR AND MAPPER NO. L.S. 67M STATE OF FLORIDA u M r O Q mmop w nn O mrlQzgro zv<zi.TiO omm OmpN R m3Cim < m tl■ p 11 ry p■ N■ tl tl tl p II tl p■■■ ry p 4 R■■ R Y O U■ p Y U U tl■ R 11 p p m i 11 4 11 a tl 4 $ y y R1 D C nO0o11�jo��roOO DCOj� �m�70p yr0c00 OyZOOX_1L�n 'ymnTAO c�InTI mp1 = Q A01 ZN-DDC C N ym2 1, RHIn Dr-I+n a Cz�ZmyfOn tOrlw<yri Z�z ggp Zjz? rr D $m SPA r OwC)oo ' W'Mr.r. ZXOm004-10 00 Z-Di pDAwx2oxI �1 rim Ynyp D T80 inx AZ2 , Zy'{ oo � <m ,�W x '� m M s�%.i no 2 A n 2 r z z r' 8D Dr -1m r��mrm O C C O mm2 �[) z Om '" �mDIMM< A s o CiN p �z 7K O v m p A 8 O N m w a p T emi Z D_ MITRACOASTAL WATERWAY a 180.00'(P&M) ii A p 7 C O 1.r CONC SEAWALL 13p.0 1. 5' U E. ! -' 50.0' a — — - V r .. 'b 4•aF 5 GE TOR '0 m m N Oy N /liU..- < z j4iiJ ss;'a/ D `I,m Ssr f rn" :' F{1 a.z o r R+a l Mid Z p`'Z ,� 1R11 (pis g fiilp I}It �4Mr ..� !1)1111( ! .i�ljlzo j.,Yyityf i„�1� n m m <O rR p,r BANYAN ROAD IT iU 26'ASPNALTROADWAY 30 PM (TOTAL) m O C z 0 S Ti. c ] a l{.-• { 4 rr D it OA 'DC fif O O byym C SCLF , P=ptqtim w n91nn 18000(P&M) -frro olcr§ zno 0 oz "021, t)o m pPA . . . . �gggg alb 0n y mm7 POLO COVEZ� p= Ju X n m5> O m O Z Z T N b yDD-.I-0 Z IA�r Amy BOO lmM OpO Q�POm ND m O f�_r,_riLYacti_ C, M Ks% Z n z �c m zt� < "pmz C mz 1n`a M A D laze 'UO tpa {-11 �h w n.y p rn 0q6 b D � �xq zA� 9i�m^i _C TzGin CL lall� �Qqn tpS01. Pr„ Sgz r� mpD 75Y'R 7�0 m S �/A y goo'7x Mo r r 0 m2 b, N i p Oaf a O Z Pon H SY f7�n m w �( m �Z2Z2m pasta CCzo of gp y0 qg 0 Z Z 3 2 1�iii D fl1 �ji ; ♦ -1 7� o< 85,0�� p wwa�tl N g� „gyp z_ g pp gg D A D4 C NIC S0 of F `•T �inm �+I n m y xp�'_$ Z r�9 tQ�iu-1%=�Qp m �°ilz y rm o�p'S D w D rA w oc'A i O x aZ O'9g »� a 2� c� 5� w " PROPERTY OWNERS' LIST 570 BANYAN RD Michael J. Woodward and Kathleen Woodward as Trustees of the Michael Woodward & Kathleen Woodward, HW Living Trust Dated January 4, 2013 67 Sleepy Hollow Drive Newtown Square, PA 19073 The South 75 feet of Lot 3 and the North 50 feet of Lot 2 and the North 55 feet of Lot 2-A, POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 560 BANYAN RD Criah H. Deery as Trustee of the Craig H. Deery 2011 Revocable Trust UA dated September 7, 2011 560 Banyan Road Delray Beach, FL 33483 Lot 4 and the North 25 feet of Lot 3, POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 544 BANYAN RD Ramon V. Nicholl and Sheree Nicholl 544 Banyan Road Delray Beach, FL 33483 Lot 6, POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 532 BANYAN RD Craig A. Nalen and Katherine A. Nalen 532 Banyan Road Delray Beach, FL 33483 Lot 7, POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 520 BANYAN RD James E. Walton and Ellen C. Walton 520 Banyan Road Delray Beach, FL 33483 Lot 8, POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 3424 POLO DR Joseph J. McCool and Pennel B. McCool 3424 Polo Dive Delray Beach, FL 33483 Lot 9, POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 3400 POLO DR Michelle F. Clark and Kevin C. Clark 3400 Polo Dive Delray Beach, FL 33483 Lot 10 and the North 50 feet of Lot 11, of POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 3300 POLO DR David Given and Cameron Carr Given 3300 Polo Dive Delray Beach, FL 33483 Lot 11 Less the North 50 feet thereof and ALL of Lot 12, of POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 3250 POLO DR Kevin Clark and Michelle Clark 3250 Polo Dive Delray Beach, FL 33483 All of Lot 13 and Lot 14, less the South 50 feet of Lot 14, of POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 3232 POLO DR William A. Douglass 3232 Polo Dive Delray Beach, FL 33483 Lot 15 and the South 50 feet of Lot 14, of POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 525 PALM WAY Grace V. Dragas, Helen E. Dragas and Jennifer Dragas Stedfast as Trustees of THE 2018 GRACE V. GRAGAS TRUST U/A/D AUGUST 28, 2019 4538 Bonney Rd. Suite A Virginia Beach, VA 23462 3874 Lots 16 and Lot 17, of POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 531 PALM WAY Martha L. Walker f/k/a Martha L. Connelly, as Trustee of the Martha L. Connelly Revocable Trust dated June 19, 1992 531 Palm Way Delray Beach, FL 33483 Lot 18, of POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 543 PALM WAY Percy James Orthwein and Joan K. Orthwein 543 Palm Way Delray Beach, FL 33483 Lot 19, of POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 555 PALM WAY Kristin Alexandre 555 Palm Way Delray Beach, FL 33483 Lot 20, POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 566 PALM WAY Brian P. Coulter and Jennifer Coulter 566 Palm Way Delray Beach, FL 33483 The North 50 feet of Lot 21 and all of Lot 22, POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 578 PALM WAY Jesse Ryan Howard and Bridgit Virginia Nolan 578 Palm Way Delray Beach, FL 33483 Lot 23, POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. 582 PALM WAY John C. Arscott and Cherie N. Arscott, co -Trustees of the John and Cherie Arscott Joint Revocable Trust dated August 31, 2015 582 Palm Way Delray Beach, FL 33483 Lot 23-A and 24, POLO COVE, according to the plat thereof as recorded in Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. SKETCH OF DESCRIPTION FOR THE ABANDONMENT OF A PORTION OF BANYAN ROAD LOT 3 P.B. 24, PG. 73 Z ao 110, z O a� m I 0 O LOT 2 0 P.B. 24, PG. 73 o S 84°34'17" E w 50.00' M 3 0 Point of Bec nr ig o o M `- SW Corner ," o o of Banyon Road o 110.00, Z C. S 84°34'17" E 50.00,CO 170' N 84"3_ 4 W p 10' 00 0 PORTION OF BANYAN ROAD TO BE ABANDONED 0 Cn LOT 1 P.B. 24, PG. 73 170' POLO COVE INLET Sheet 2 of 2 I1 LOT 5 P.H. 24, PG. 73 LOT 2A P.B. 24 PG. 73 0 40 Scale 1" = 40' ui V W Z LEGAL DESCRIPTION Sheet 1 of 2 FOR THE ABANDONMENT OF A PORTION OF LEGAL DESCRIPTION: A PORTION OF BANYAN ROAD AS PLATTED IN THE PLAT OF POLO COVE, ACCORDING TO THE PLAT THEREOF RECORDED IN PLAT BOOK 24, PAGE 73 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA. SAID PORTION OF BANYAN ROAD DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF LOT 1 IN THE PLAT OF POLO COVE; THENCE SOUTH 84034'17" EAST ALONG THE NORTH LINE OF SAID LOT 1, A DISTANCE OF 110.00 FEET TO THE SOUTHWEST CORNER OF BANYAN ROAD AND THE POINT OF BEGINNING; THENCE NORTH 05°25'43" EAST ALONG THE WEST LINE OF BANYAN ROAD, A DISTANCE OF 50.00 FEET; THENCE SOUTH 84034'17" EAST, A DISTANCE OF 50.00 FEET TO A POINT ON THE EAST LINE OF BANYAN ROAD; THENCE SOUTH 05-25-43" WEST ALONG THE EAST LINE OF BANYAN ROAD, A DISTANCE OF 50.00 FEET TO THE SOUTHEAST CORNER OF BANYAN ROAD, AND ALSO A POINT ON THE NORTH LINE OF LOT 1; THENCE NORTH 84°34'17" WEST ALONG THE NORTH LINE OF LOT 1, A DISTANCE OF 50.00 FEET TO THE POINT OF BEGINNING. CONTAINING 2,500 SQUARE FEET, MORE OR LESS. NOTES: 1. THIS SKETCH OF THE LEGAL DESCRIPTION DOES NOT REPRESENT A BOUNDARY SURVEY. 2. THE BASIS OF BEARINGS OF THIS SKETCH OF THE LEGAL DESCRIPTION IS NORTH 05°25'43" EAST ALONG THE WEST LINE OF THE PLAT OF POLO COVE. 3. THE PLAT OF POLO COVE, RECORDED IN PLAT BOOK 24, PAGE 73 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA WAS USED IN PREPARATION OF THIS SKETCH AND LEGAL DESCRIPTION. 4. THE PURPOSE OF THIS SKETCH AND LEGAL DESCRIPTION IS TO ABANDON A PORTION OF BANYAN ROAD AS RECORDED IN PLAT BOOK 24, PAGE 73 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA. SURVEYOR'S CERTIFICATION: I HEREBY CERTIFY THAT THE SKETCH AND LEGAL DESCRIPTION WERE PREPARED UNDER MY RESPONSIBLE CHARGE AND MEETS THE STANDARDS OF PRACTICE AS SET FORTH BY THE FLORIDA BOARD OF PROFESSIONAL LAND SURVEYORS AND MAPPERS IN CHAPTER 5J-17, FLORIDA ADMINISTRATIVE CODE, AND THAT IT IS TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE AND BELIEF. SURVEY MAP AND REPORT, OR THE COPIES THEREOF, ARE NOT VALID WITHOUT THE SIGNATURE AND RAISED SEAL OF A FLO DA LICENSED URVEYOR AND MAPPER. • -%%%" p 4y 191,41V, osaooael. ANTHONY BIANCHIN PROFESSIONAL SURVEYOR & MAPPER a 8 No. L87106 m �_ FLORIDA REGISTRATION NO. LS7108 = b n �' •' STATE o s .OF o Q� I �� •eab6o 6��A - p9)II&ciml 8A PREPARED FOR: TOWN OF GULF STREAM, FLORIDA SITE LOCATION: 588 BANYAN ROAD GULF STREAM, PALM BEACH COUNTY, FLORIDA November 3, 2020 Mr. Edward (Trey) C. Nazzaro Assistant Town Attorney Town of Gulf Stream 100 Sea Road Gulf Stream, FL 33483 Re: Potential Right -of -Way Abandonment at 588 Banyan Road Dear Mr. Nazzaro: We would like to begin by thanking the town commission and staff for taking the time and making the effort to engage regarding our application for the potential abandonment of a portion of the Banyan Road right-of-way (the "parcel") that intrudes into our property at 588 Banyan Road. Our goal remains to work constructively with the Town of Gulf Stream to hopefully find a reasonable and mutually agreeable solution for this unique situation that results in a `win -win'. The spirit of this correspondence is to share our updated perspective on this matter ahead of the November 13th hearing in order to make that session as productive and efficient as possible. As stated in the initial application, our primary concern and reason for the application is to resolve awkwardness associated with the road right-of-way extending into our property, including any attendant safety and trespassing concerns. We have no current plans to build a new house so any theoretical benefit in set -backs or buildable square footage is option value, at best, to us. By operation of law, when a right-of-way is typically abandoned, an undivided one half -interest belongs to and is often conveyed for de minimis (zero) consideration to each adjacent property owner (in this unique case, we are the sole adjacent property owner). As practical matters, 1) we require continued perpetual use of the parcel for entry/exit into our property; 2) the parcel is effectively worthless to anyone else (or the "next best buyer"), including the Town of Gulf Stream; and 3) we are ostensibly the sole "willing buyer in a competitive and open market". Nevertheless; we offered in our initial letter to the town to pay something meaningful but nominal for the parcel (under $100k) as a good faith gesture to create a `win -win'. At the June 2020 hearing, we agreed to the concept of paying a "privilege fee", which Mr. Nazzaro concurrently verbally estimated to be approximately $66,000, based upon a calculation utilizing the Palm Beach County Appraiser's value of our primary residence property at 588 Banyan Road'. Since that time, however, the town has received an appraisal of the parcel for $525,000 which — in this unique case — we believe is deeply flawed in both theory and practical reality. Needless to say, we are not willing to pay $525,000 for an unbuildable, non -waterfront, "stub" parcel which serves no other purpose than continued right-of- way into our own existing property. In the absence of a workable solution with us, the parcel reverts to a de minimis value and the Town forgoes meaningful potential proceeds that cost it nothing. ' In a subsequent phone conversation with Mr. Nazzaro on October 28, 2020, he informed me that the $66,000 estimate was erroneously based on 500 square feet. Using the parcel's actual 2,500 square footage at the same $/sq ft, the parcel's value would be 5x the verbalized estimate, or $330,000, utilizing the Palm Beach County Appraised $/sq ft from our main property at 588 Banyan Road (triple point lot with Intracoastal & basin waterfront, buildable, includes a house and doesn't double as right-of-way). 1 Unique Aspects of this Situation To begin, we believe that it's important to note the unique aspects of this specific situation that make it non precedent -setting and also render a standard appraisal of "market value" to be non-sensical (typically based on the property's highest and best use for a willing buyer in a competitive and open market). These factors include: • A single adjacent property owner surrounds the parcel. A single party utilizes the parcel. o The appraisal references that "the subject property, due to its size and width, has little if any development potential or use to anyone other than the adjacent owners....." However, there is only one adjacent owner, us! o In many ways, this small parcel within a larger property is akin to a minority interest, for which standard discounts are routinely applied in the business world of 20-30%. • Regardless of who owns the parcel, it will still be required by the property owner for continued access (rendering it entirely worthless to anyone else); the subject parcel has served for decades as sole entry into the 588 Banyan Road residence. o Notwithstanding the myriad of other limitations to the parcel, why would anyone else want to buy this parcel given the ongoing requirement for use by 588 Banyan Rd. property for entry / exit? • The parcel is non -buildable and non -waterfront, with a cove -only view; meanwhile, the adjacent surrounding property (588 Banyan Road) is a triple point lot with a mix of both intracoastal and cove waterfront. Use of the "horseshoe" to impute value of the "hole" — without any reasonable corresponding adjustments — significantly overstates parcel value. • A situation where neither the town nor any adjacent property lose anything by this (in fact, receives funds it otherwise wouldn't have and potentially benefits from other non -financial administrative and legal aspects) and there is no other willing buyer because the 588 Banyan Road property both surrounds it and requires it for entry/exit. There is no competitive and open market. o If there truly were competition to set a market value — such as a public auction — we'd speculate that "the most probable price at which a property should bring in a competitive and open market under all conditions requisite to a fair sale...." (p. 15 of appraisal) would most likely be S1.00, given that it's worthless to the next best buyer! o This is non precedent -setting. This is not beachfront property nor is it a corridor utilized by multiple home owners for public purpose. In this case, abandonment would not result in detriment to the provision of access to adjacent properties or the general area. This is closer to abandonment of a "horseshoe hole" than a usable piece of land. • The parcel contains two beautiful Banyan trees that benefit the 588 Banyan Road property and the Town of Gulf Stream. These trees cost approximately $3,000 annually to be pruned and preserved, which cost we currently bear despite not owning the parcel. Views on Appraisal and Value For the reasons above, as a practical matter, there is effectively one willing buyer and therefore no competitive and open market for this parcel. Accordingly, the market value standard underpinning the appraisal is interesting in theory but not grounded in the reality of these specific circumstances. We don't believe appraisers are set-up to accurately value something with one willing buver. much ON less one willing buyer who continues to require continued use of the parcel for access to the 588 Banyan Road residence. That said, if one were to establish a starting point for an appraisal, it wouldn't be anywhere close to $525,000. Per Exhibit A, it would be either (1) the best comparable property (see line item "B") — whieh, per Exhibit B, is the sole Gulf Stream property in the comparable set and which is directly across the basin from the parcel; or (2) the Palm Beach County Appraised value for 588 Banyan Road (see line item "C"), or approximately $330,000-$350,000. However, based upon the unique circumstances described above, we strongly believe that there should be a meaningful discount applied given that this parcel is non -waterfront, non -buildable, requires continued use for exit/entry by the owner of 588 Banyan Road, and has one viable potential buyer who surrounds the property (therefore no competitive market for the parcel). To apply even the Palm Beach County appraised $ / sq ft for 588 Banyan Road would seem inappropriate (applying triple point lot intracoastal waterfront, buildable property that doesn't double as a right-of-way for someone else to drive through and can be bought & sold through a competitive process for this particular parcel). Notably, page 35 of the appraisal states: "However, its narrow configuration makes it more or less useless for anything other than a roadway, parking lot, alley, driveway, utility or railroad spur track. It could not readily be developed as a stand-alone parcel. This parcel has little, if any, development potential to anyone other than the adjoining property owner. This type of property is almost exclusively purchased privately by the adjacent land owner for assemblage and never sold in the open market. Depending on the entities involved, the value of this type of property is sometimes discounted for size and width, configuration and lack of development potential. In more and more cases, however, the selling parties demand full value with no discount based on an across the fence value." [italics added.for emphasis] Indeed, discounts are sometimes provided based on unique circumstances, with not all cases (just "more and more", whatever that means?) involving the sellers demanding (note, demanding vs. transacting) full value with no discount. We strongly believe this to be the case in this unique situation if one were to theoretically value the parcel as if there was an available competitive market with multiple potential buyers (which there are not, for reasons described above). Per Exhibit A, we believe that applying appropriate discounts generates a parcel value of $100,0004150,000 at best. Anderson Carr Appraisal We have endeavored to take a balanced, conservative and "common sense" approach herein. We do not wish to spend a lot of time finding fault with a flawed and theoretical Anderson Carr appraisal that we'd submit doesn't pass the basic "sniff test" in output. However, we would like to go on record stating that we believe the appraisal is highly problematic in a number of ways, including: (i) the "across the fence methodology" utilized in this particular case (as opposed to other methodologies such as a "comparable sales approach".....a growing number of appraisers support an appraisal process that favors evaluating corridors by utilizing market -based data of sales and rentals of linear corridor properties. This approach is 3 similar to the procedures used by the utility industry in evaluating corridors when they sell or rent rights -of -way to each other), (ii) the failure to discount the valuation based on important limiting factors to this specific parcel (page 52 absurdly indicates that "the subject property is 2,500 square feet of land but an across the fence valuation is based on the values of nearby properties of differing sizes in the adjoining development. Accordingly, no adjustment for size is being applied; page 53 erroneously states that "neither the subject nor the comparables appear [to] be impacted by their shape in such a manner as to limit their development"; finally, the appraisal fails to account for the fact that the parcel is not waterfront.... the Anderson Carr appraisal method would value this parcel to be the exact same as if it were moved over 10 feet to the east against the seawall/basin as it would in the "hole" of our driveway?), and (iii) the equal weighing of comps (vs. overweighing of the best "other comparable" in 3400 Polo Drive) by use of a mean, while failing to even include the adjoining 588 Banyan Road square footage "most relevant comparable"! Proposed Solution We are willing to pay $200,000.00 for abandonment of the parcel. We believe this represents a significant premium to the more typical "abandonment" legal process ($0), to the likely outcome in an auction scenario ($1), to the originally verbalized estimate at the June hearing ($66k), and to the midpoint of our analysis of theoretical appraised value incorporating appropriate discounts ($100- 150k). We believe the Town of Gulf Stream would benefit greatly from these funds at this time, in addition to any non -financial benefits regarding safety and trespassing concerns. Otherwise, we would be happy to maintain the status quo. Thank you for your time and attention regarding this matter. Please feel free to contact us with any questions or concerns, or if you need additional information. Res ectfully, J.R. Davis Nadia Davis 4 EXHIBIT A 3 c C C � 7 3 O O N_ N_ M 0 0 n v m Ln Ln in o T m N d O 0 0 g � o go 0 Ln m m;LL m0 �A °J 'S co g as o c - , � iE y ANDEPSON CARP Comparable Sales Location Map muldliaplilly IV Country Club Golt EXHIBIT B Br;ny Br en? t--t; ;AIA, Subject Gulf Stream Dunes Road High Point OE) Delray Beach it 10 Kijgs Point C, -('A 4 3 2 land elch i4) Goiniv Allarih,. UnivvIATY Nwurt C,A !�,,j A Boca Raton 5 Boca Del Mar Boca Pointe v 6 pAIA,- Dee!fie!d .ers P;irk Beach S1. 588 Banyan Road A&C Job No.: 2200365.000 50 N 00 I C Obi, a c I Co o c o o Q V h a� O inoOo O O O ono_ O o O Z 6 ios Is s 40-t N t� � O 00�O cs �O O a, � M O C 00 V� O t�1 M N N O M o0 1n in O N O O O O O O N O r •-" td O rA a+ b > > O a d A A b A C N 0 O �. O O A, p e� co O w N O SOD O � co Wjh r- Id- cn _ M ►oA Lr' L.J �r YJ a f Cl, rn N "My o Oen cO en O a 00 00 00 ON O 4QL ¢ z ti o o C6 0 g ro m 00 00 V) ANDERSO>N CARP SALE NO.1 - 3400 Polo Road, Gulf Stream, FL 33483 AC File No.: 2200365 ID: 911547 OR Book/Page: 29770/1319 Type: Land Sale Status: Sale Sub -Type: Single Family Lot Date: April 9, 2018 Grantor: The Joan W. Leslie Trust Grantee: Michelle F. Clark & Kevin C. Clark Legal: Lot 10 and the North 50 feet of Lot 11, Polo Cove, Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. Folio No.: 20-43-46-03-02-000-0100 Location: West side of Polo Drive, east of the Intracoastal Waterway and west of North Ocean Boulevard, Gulf Stream. Zoning: RSC- C - Residential Single Family -Gulf Stream Core District by Gulf Stream Land Use: Single Family Utilities: Municipal water and sewer, electricity, and telephone 588 Banyan Road A&C Job No.: 2200365.000 38 ANDERSON CARP Site Size: Square Feet: 24,825 Acres: 0.570 Shape: Rectangular Street Frontage (,FQ: 155 Topography/Blevation: Level, near road grade Use: Use at Time of Sale: Vacant Residential Intended Use: Single Family Highest and Best Use: Single Family Home Verification: Source: Kevin Clark, Bob Banting Relationshiv: Buyer Conditions of Sale: Arm's-length Verified Bv: Z. Rossetti Date: July 29, 2020 Sales History: No transactions in the previous five years Sales Price: $3,450,000 Price/SF Land: $138.97 Price/Acre: $6,052,632 Financing: Cash to seller Comments: This is the sale of a single family waterfront lot in Gulf Stream. The property is situated on the east side of the Intracoastal Waterway within a Polo Cove. The site has approximately 150 feet of waterfrontage however, there is very limited direct Intracoastal views due to the site's interior location within the cove. At the time of sale, the property was improved with a single family home containing approximately 4,931 square feet which was demolished after closing. The property was purchased based on the land value. 588 Banyan Road A&C Job No 2200365.000 39 ANDEPSON CARP APPRAISAL OF A PROSPECTIVE RIGHT-OF-WAY ABANDONMENT LOCATED AT 588 BANYAN ROAD GULF STREAM, FLORIDA 33483 FOR EDWARD (TREY) C. NAZZARO, ASSISTANT TOWN ATTORNEY TOWN OF GULF STREAM BY ROBERT B. BANTING, MAI, SRA CERT GEN RZ4 WITH ANDERSON & CARR, INC. 521 SOUTH OLIVE AVENUE WEST PALM BEACH, FLORIDA 33401 DATE OF INSPECTION: JULY 22, 2020 DATE OF REPORT: JULY 30, 2020 DATE OF VALUE: JULY 22, 2020 FILE NO.: 2200365.000 CLIENT REFERENCE: 588 BANYAN ROAD ANDEPSON CARP APPRAISERS •REALTORS•CONSULTANTS •DEVELOPERS July 30, 2020 Mr. Edward (Trey) C. Nazzaro Assistant Town Attorney Town of Gulf Stream 100 Sea Road Gulf Stream, FL 33483 Dear Mr. Nazzaro: Pursuant to your request, we have personally appraised the real property being a prospective right-of-way abandonment located on Banyan Road. The proposed abandonment includes a 50-foot-wide by 50-foot-deep right- of-way containing approximately 2,500 square feet of land. The subject property is located within the Polo Cove subdivision at the dead-end of Banyan Road between the Intracoastal Waterway and North Ocean Boulevard. The property address is 588 Banyan Road, Gulf Stream, FL, 33483. The purpose of this appraisal is to estimate the market value of the fee simple estate of the subject property as of July 22, 2020. The intended use of the report is to assist the client and intended user in estimating current market value of a proposed right-of-way abandonment using an across the fence methodology. 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. The subject property, due to its size and width, has little if any development potential or use to anyone other than the adjacent owners or as part of an assemblage for development. Properties of this type rarely sell, and when they do sell, are not typically exposed on the open market. They are almost exclusively purchased privately by adjacent landowners for assemblage into their property. Prices vary widely but are typically based on the unit values of the adjoining land. In more and more cases, the selling entities are not discounting prices because of size, width, or lack of stand-alone development potential. We have utilized "across the fence" appraisal methodology which is a land valuation method often used in the appraisal of corridors. The across the fence method is used to develop a value opinion based on comparison to abutting land. The price or value of land adjacent to the corridor (i.e., across the fence) is considered for the valuation. (The Dictionary of Real Estate Appraisal, 5th ed., Chicago: Appraisal Institute, 2015). ESTABLISHED 1947 - ANDERSON & CARR INC • 521 S OLIVE AVE., W. PALM BEACH, FL 33401 • 561.833.1661 • ANDERSONCARR.COM ANDEPSON CARP Edward (Trey) C. Nazzaro Page 2 July 30, 2020 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 direct, or indirect, effect, if any, this event may have on the national economy, the local economy or the market in which the subject property is located. The stock market has already responded negatively. However, the real estate market is much slower to react and there is no measurable evidence available at this time to make an adjustment for this very recent situation. 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 July 22, 2020 was: MARKET VALUE: $525,000 The following presents our analysis and conclusions in a narrative appraisal report. This letter must remain attached to the report, which contains 55 pages plus related exhibits, in order for the value opinion set forth to be considered valid. Your attention is directed to the Assumptions and Limiting Conditions contained within this report. Respectfully submitted, ANDERSON & CARR, INC. Robert B. Banting, MAI, SRA Cert Gen RZ4 588 Banyan Road ANDEPSON CARP TABLE OF CONTENTS Page No. Summary Of Important Facts And Conclusions............................................................................................... 1 Certification....................................................................................................................................................... 3 GeneralConditions............................................................................................................................................ 4 Area/Location Maps..........................................................................................................................................7 PlatMap/Survey................................................................................................................................................. 8 AerialPhotographs.......................................................................................................................................... 10 Subject Property Photos (Taken July 22, 2020).............................................................................................. 11 PurposeAnd Date Of Value........................................................................................................................... 14 PropertyAppraised.......................................................................................................................................... 14 LegalDescription.............................................................................................................................................14 Disclosure Of Competency.............................................................................................................................. 14 IntendedUse And User................................................................................................................................... 15 Definitions....................................................................................................................................................... 15 PropertyRights Appraised..............................................................................................................................16 TypicalBuyer Profile....................................................................................................................................... 16 ScopeOf Assignment....................................................................................................................................... 17 PalmBeach County Summary ......................................................................................................................... 19 Conclusion.................................................................................................................................................... 27 Town of Gulf Stream Summary ....................................................................................................................... 28 PropertyData................................................................................................................................................... 30 TaxpayerOf Record..................................................................................................................................... 29 Palm Beach County Property Control Number(S)..................................................................................... 29 AssessedValue And Taxes For 2019........................................................................................................... 29 CensusTract................................................................................................................................................. 29 FloodZone Designation.............................................................................................................................. 30 ZoningAnd Future Land Use..................................................................................................................... 32 Concurrency................................................................................................................................................. 32 Utilities......................................................................................................................................................... 33 SubjectProperty Sales History .................................................................................................................... 32 SiteAnalysis................................................................................................................................................. 33 HighestAnd Best Use..................................................................................................................................... 35 ExposureAnd Marketing Time....................................................................................................................... 36 SalesComparison Approach........................................................................................................................... 37 SalesSummary And Discussion................................................................................................................... 52 Conclusion.................................................................................................................................................... 55 Qualifications for Robert B. Banting, MAI, SRA, Cert Gen RZ4 Addendum: Survey & Plat Map anyan Road A&C Job No. 22007W 000 ANDEPSON CARP SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS Client: Edward (Trey) C. Nazzaro, Assistant Town Attorney Town of Gulf Stream Intended User: Town of Gulf Stream Intended Use: Estimate Current Market Value of a Proposed Right- of-way Abandonment Using an Across the Fence Methodology Taxpayer of Record: N/A Property Rights Appraised: Fee Simple Estate Extraordinary Assumptions: None Hypothetical Conditions: None Unusual Market Externality: Covid-19 Pandemic Location: Site is located within the Polo Cove subdivision at the dead-end of Banyan Road between the Intracoastal Waterway and North Ocean Boulevard. The property address is 588 Banyan Road, Gulf Stream, FL, 33483. Site/Land Area: The subject site contains 2,500 square feet or 0.06 acres. Improvements: The subject is used as a private road and is asphalt paved. Zoning: RS-C: Residential Single Family -Gulf Stream Core District by Gulf Stream Land Use Plan: SF- Single Family by Gulf Stream Flood Zone & Map Reference: Zone AE, Community Panel Number 12099C0981F, effective date of October 5, 2017 Census Tract: 0054.11 Current Use: Right-of-way Highest and Best Use: Assemblage with adjoining property 588 Banyan Road A&C Job No.: 2200365.000 1 ANDEPSCNd CARP 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: $525,000 MARKET VALUE: Date of Inspection: Date of Report: Date of Value: Appraiser. $525,000 July 22, 2020 July 30, 2020 July 22, 2020 Robert B. Banting, MAI, SRA Cert Gen RZ4 588 Banyan Road A&C Job No.: 2200365.000 ANDERSON CAPP 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. Robert B. Banting, MAI, SRA has made a personal 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. Robert B. Banting, MAI, SRA Cert Gen RZ4 588 Banyan Road A&C Job No.: 2200365.000 ANDERSON CARP 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. 588 Banyan Road A&C Job No 2200365.000 ANDEPSON CARP 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. 588 Banyan Road A&C Job No 2200365.000 ANDEPSON CARP 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, Edward (Trey) C. Nazzaro, Town of Gulf Stream. 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 direct, or indirect, effect, if any, this event may have on the national economy, the local economy or the market in which the subject property is located. The stock market has already responded negatively. However, the real estate market is much slower to react and there is no measurable evidence at this time to make an adjustment for this very recent situation. The reader is cautioned, and reminded that the conclusions presented in this appraisal report apply only as of the effective date(s) indicated. The appraiser makes no representation as to the effect on the subject property of this event, or any event, subsequent to the effective date of the appraisal. 22. 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. 588 Banyan Road A&C Job No 2200365.000 ANXPSCN`I CARP AREVLOCATION MAPS Briny fi>eezes m Golf atn) Hunters Run Gulf St n Country Club SUBJECT Dunes Road int Delray Beach in " Gulf Stream School SUBJECT Joseph s scopalChurcn Walmart Supereenter Q SE 3611, Ave SE 36th Ave OJohnny Mangos Garden Center AC Delray Seacrest Fihe S 50 S F;,r ar Soccer Complex and.. & Flam-ofm Rol'ruom 0 QGulf Stream Golf Club P Yoga Q Gunther Volvo 588 Banyan Road A&C Job No.: 2200365.000 7 ANDEPSON CARP PLAT MAP 588 Banyan Road A&C Job No.: 2200365.000 8 ANDEPSON CARP SURVEY Right -Of -Way Abandonment NORTH 54) orLOT2A "ORTti5a orLOT 2 10 00-(P&M) CORNER s. *ATER 'R loowpw) 61 rl HO tp %OID_ CORNER 1 4 Cj SOUTH 50 cot kwWt OFLOT2 SOUTH 50to OF IOT 2A I 2A IL WAL& IT, i :15 440 J I(Ar GKA%u DRIVY 9%AV NC 500-00'(P&fVfi WA�01 09 I cowl okc FiR& - VvAdx (L I a. Wk- 4AC > 0 Q X4, fro. G LAM 4 — co": LOT I 0 LL CC'14� is r. As—WAI 1 170 DO-(P&Mj 588 Banyan Road A&C Job No.: 2200365.000 ANDERSON CARP AERIAL PHOTOGRAPHS 588 Banyan Road A&C Job No.: 2200365.000 10 ANDEPSON CARP SUBJECT PROPERTY PHOTOS (TAKEN JULY 22, 2020) Subject from Banyan Road West side of Subject looking north 588 Banyan Road A&C Job No.: 2200365.000 11 ANDEPSCNd CARP South side of Subject looking east East side of Subject looking south 588 Banyan Road A&C Job No.: 2200365.000 12 ANDERSQN CARP Banyan Road, looking north Banyan Road, looking south 588 Banyan Road A&C Job No.: 2200365.000 13 ANDEPSON CARP 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 July 22, 2020. PROPERTY APPRAISED The subject property consists of 0.06 acres located within the Polo Cove subdivision at the dead-end of Banyan Road between the Intracoastal Waterway and North Ocean Boulevard. The property address is 588 Banyan Road, Gulf Stream, FL, 33483. The subject is zoned RS-C by Gulf Stream. LEGAL DESCRIPTION The legal description for the subject property was not provided by the client. A 50' x 50' parcel of existing right of way adjacent to Lot 1 and the South 50 feet of Lots 2 and 2A, Plat of Polo Cove. 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. 588 Banyan Road A&C Job No.: 2200365.000 14 ANDEPSON CARP INTENDED USE AND USER The intended use of this report is to assist the client and intended user in estimating current market value of a proposed right-of-way abandonment using an across the fence methodology. The intended user of the report is the Town of Gulf Stream. 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 Mr. Edward (Trey) C. Nazzaro Assistant Town Attorney Town of Gulf Stream 100 Sea Road Gulf Stream, FL 33483 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). Across The Fence Method A land valuation method often used in the appraisal of corridors. The across the fence method is used to develop a value opinion based on comparison to abutting land. The price or value of land adjacent to the corridor (i.e., across the fence) is considered for the valuation. Other considerations include corridor factor and usage factor adjustments (The Dictionary of Real Estate Appraisal, 6th ed., Chicago: Appraisal Institute, 2015). 588 Banyan Road A&C Job No.: 2200365.000 15 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). Subject to a utility and drainage easement over the entire right-of-way to be abandoned. TYPICAL BUYER PROFILE The typical purchaser of the subject would be either a developer who would develop the site for lease or resale or an owner/user that would develop the site for his own use. The comparables utilized in the sales comparison approach to value reflect these trends. 588 Banyan Road A&C Job No.: 2200365.000 16 ANQERSON CARP 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. Across the fence appraisal methodology which is a land valuation method often used in the appraisal of corridors. The across the fence method is used to develop a value opinion based on comparison to abutting land. The price or value of land adjacent to the corridor (i.e., across the fence) is considered for the valuation. The across the fence methodology is also often used to value other small parcels of land with little utility and/or no development potential on stand-alone basis. The subject property, due to its configuration, has little if any development potential or use to anyone other than the adjacent owners or as part of an assemblage for development. Properties of this type rarely sell, and when they do sell, are not typically exposed on the open market. They are almost exclusively purchased privately by adjacent landowners for assemblage into their property. Prices vary widely but are typically based on the unit values of the adjoining land. In more and more cases, the selling entities are not discounting prices because of size, configuration, or lack of stand- alone development potential. 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 exterior of the subject property and the comparables. 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. 588 Banyan Road A&C Job No.: 2200365.000 17 ANDERSON CARP PALM BEACH COUNTY SUMMARY wn „� M A R T I N So" St Lucke C.a91 _. Na0e4. G L A D E S :Y.•.lilaatill.•.at1•.\�•.aJ.a.•.•.aiaaa a. "a la. a.�;Jla•sa ia•• L a k e " i :i0keecbobee i CanalPoint i y Pah ke �aYY Barb Grdans a eke Pak pa gn h Palm Beece t �V..al PaYn - .Mrr 1 P.Yn --- I Rac�aaah BeKh Q t I a n t I C ,:` `lakn r; aBek (lade Beam O c e a `r�nB•y �� -�— ae+ L"t Worth: n � sP,Ptlm, . F L R 1 0 A t P A L M B E A C H OI +_ i • • `Ye,ian f Anh.t i h .Hal. Losshatehee National i tA9d 1. Rerag. beach K1" N(lfsboro _ Bpgo0;&.r Cann! • i r E e m e . Yeoe We . ... .. .... ................ ...... .....: ',II.II R ! •! i .! �bca Raon Pe .ntl .. Big Cypress YnNaa, Ra aifa, §pt0 -`�-.: BE81�T - B.rh ClrN 80 s]6 Pompa o Beach Fighlsnos ....... ... Eaerelado. Wddirre Managemer it Area Wrpae° °C•eoasd Creek C O L L I E R Florida State mk�co� ea B R 0 VV A R D IIor11, L `Po span. Reach Betionel Resm. Reseraefl°n pry... c....w !' . e]0 Oakland 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. 588 Banyan Road A&C Job No.: 2200365.000 18 ANDERSON CARP 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 AlA, U.S. Highway 1, Congress Avenue, Military Trail and U.S. 441. A1A 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. Airl2ort 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`h 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. It is home to Bahamas Paradise Cruise Line offering two-day cruises to Grand Bahama Island. The Intracoastal Waterway represents one of Palm Beach County's most identifiable marine destinations. Roughly 43 miles of waterway serve as a regional connector between 23 of the county's municipalities. 588 Banyan Road A&C Job No.: 2200365.000 19 ANDEPSON CARP 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 has been dramatically affected by the recent pandemic that has 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 in January 2020 was 3.6%, however, with the closing of retail stores, restaurants and hotels, unemployment has skyrocketed to 14.1%, a twelve month change up 11%. Palm Beach County has greatly benefited from Florida's lack of a state income tax. The region has always been popular with wealthy individuals from across the country and the world, but over the past five years has seen an even greater influx of wealthy individuals active in the financial services industry living in high tax states, 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. 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 is the largest sector 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 and a $3.5 billion dollar budget for the 2019- 2020 school year. Palm Beach County employment by industry is shown in the following table. The forecast is very uncertain due to the unknown effects of the COVID-19 pandemic. PALM BEACH EMPLOYMENT BY INDUSTRY IN THOUSANDS CUnent LFVet NAICS industry Jobs L9 Manufacturing t? C.4 Trade. Transportation and Utilises ec 1.0 Retail Trade 60 1.2 Financial Activities 38 1.2 Government 67 0.7 Natural Resources. Mining and Construction 35 1.2 Education and Health Sennoes 104 1.0 Professional and Business Services 103 1.3 Information 9 0.8 Leisure and Hosphality 78 1.3 Other Services 28 1.3 Total Employment 541 L0 Palm E3r'ach Industrial 12 Month Chan Lle 10 Year Change S Year Forecast Market u3 Market US Market US 21.200A 0.79% -1 -30% 3 CC% 4.24% -24.66% -23-00% -0.92% -1.521E 5.@O% E.42% -24.21% -23 33-A -0.F29i -1-85% 5-52% E.23% -12.69% -12.331% 0.74% -0.061A 3.13% 3.12% 3.14% 1.77% 0.22% 0.11% 0.56% C.43% -11.15% -13 57% 3.51% 1.34% 3.59% 3.2896 -1.78% 0.06% 2.58% 1.92% 1.3096 121% -11.01% -10.37% 2.08% 1.32% 3.19% 2.98% -12.60% -8.00% 0.16% -0a" 2-01% t.£w% -14.40% -1 3 BP% 1.47% 0.89% 3.56% -17.25% -16.67% 0.11% -0-82-A 3.79% 3.44% 45:d9% -14-07% 0.71% -0.07% 3-88% 3."% Sou•oe: Oxt)�d Eomomics LO - Location Q.ot ent 588 Banyan Road A&C Job No 2200365.000 20 ANDEPSON CARP Commercial Real Estate Industrial Leasing- Weakened demand led to mild upward pressure before the onset of the coronavirus pandemic. New supply mirrored weakening demand conditions. Rent -Palm Beach industrial rents are close to $12.10 per SF, a third above the national average. Industrial space dispersion across the metro translates to a wide rent range from $9/SF to $16/SF. Construction- Construction continues but has slowed down, which will likely cause future deliveries and groundbreakings to be delayed. There is currently 1.2 million SF under construction, close to the national average. Sales- The current uncertain environment suggests that transaction activity is likely to slow, as uncertainty heavily weighs on investors and lenders. Prices are at $140/SF. Overview 12 Me Deliveries in SF 12 Me Met Absorption in SF Vacancy Rate 12 Me Rent Growth 381 K (13.3 K) With an average submarket size that is six times smaller than in neighboring Miami and Fort Lauderdale. Palm Beach County, is Florida's largest county by area, and industrial properties are widely dispersed across the metro. Most industrial space is off of 1-95, and the most significant nodes containing clusters of warehouses over 75.0D0 SF are near Palm Beach Gardens and just north of Boca Raton_ Palm Beach industrial demand is primarily driven by the local economy, though some demand comes from trade activity at the Port of Palm Beach Vacancieswere on the rise for several quarters before the coronavirus pandemic onset. Though the crisis is having a limited operational impact on the metro's industrial market so far, the weakening economic outlook will weigh down demand and looks set to push vacancies up and rents down by the end of the year. 3.9% 3.6% Deal volume for the year before the onset of the crisis was robust. Activity in the first quarter of this year was among the strongest over the past few years, even though transaction volume declined significantly since March. But despite the strong deal momentum, the economic fallout will likely cause prices to drop for the first time in more than a decade. We are continuously updating our market analytics on CoStar.com to reflect the fallout from the onset of the coronavirus pandemic. You may run alternative economic scenarios by navigating to the Market Anatytics tab and selecting the Data Export menu- On the right-hand side of the page, you may choose from several scenarios before you download data. If you want to get more information on the assumptions Made under each situation. please navigate to the top of the Data Export pageand select Documentation, and U.S. Economic Scenario Descriptions. KEY INDICATORS Current dlartx RBA vao incy Rate aaerket Rent AYallatNBty Rate Net A11100CIl ae9Ywl" a.F Co WNW Logistcs 4t, 138, 177 4.1':: S1t.55 7ii': 5.764 0 1,036,0a3 Specializec industria'. 11,307.765 2.3% 310.95 7.S% 0 0 0 Flex 11,723,05@ 4.4% 315.30 7.57:i. ,.24 st 0 1.96.650 Market 64,161.618 3.9% $12.13 7.6% (24,577) 6 1.234.733 Anit"TmftM 12 liorlth 'll � AY Peak whin T► iign when Vacancy Chaeae {Y Olrr) 0 1". 5.4% 4.9% 1 t.0% 200904 2.5:•e 21017 04 Net Absorption SF '12 7 - 596 970 695 t67 2.215A47 200503 _. _ _ _ .-. _. 2009 03 D.w e,es SF 3SI K 759,526 9052S2 1,797,201 200004 9,05o 2073 G2 Rent Growih 3-0`.rr 2.2% _A% 8.4::. 2OD1 01 r13•. 20D9 G4 Sales Vat:::me S332 M St 63.2M NA S429.810 201003 S35 51.4 201007 588 Banyan Road A&C Job No 2200365.000 21 ANDERSCNd CARP Office Leasing- Before the onset of the coronavirus pandemic vacancies had steadily declined over the past decade. It is too early to evaluate the impact on office employment as both state and federal government have implemented support measures to businesses through the pandemic. Rent -The demand outlook remains uncertain as the full impact of the coronavirus pandemic is undetermined at this point. A weakening economic outlook will likely translate to significantly lower rent growth over the next few quarters. Construction- Construction has slowed and the disruption of the global supply chain will complicate the sourcing of building materials. The construction pipeline is at 1.3 million SF, the highest over the past decade. Sales- As with the rest of the country, the pandemic has disrupted financing and added uncertainty when pricing transactions that are currently in the pipeline. Overview 12 Mo Deliveries in SF 217 K 12 Mo Net Absorption in SF Vacancy Rate 12 Mo Rent Growth (389 K) The coronavirus pandemic has had a significant operational impact on Palm Beach's office market. Construction has slowed down and the vast majority of companies have transitioned their employees to work from home. The majority of the county's office employment sector is operational remotely, while those that have to work with public offices and the court system are at a standstill. as public offices will remain closed in the foreseeable future. It is too early to evaluate the impact on office employment, as both the state and federal government implemented measures to support, especially small and medium-sized, businesses in the area. Both the national and the Palm Beach metro office employment growth decelerated before the onset of the coronavirus 10.0% 5.0% pandemic. Any further weakness in office employment growth is likely to impact demand for space, especially new deliveries. as well as rent growth. We are continuously updating our market analytics on CoStar.com to reflect the fallout from the onset of the coronavirus pandemic. You may run alternative economic scenarios by navigating to the Market Analytics tab and selecting the Data Export menu_ On the right-hand side of the page, you may choose from several scenarios before you download data. If you want to get more information on the assumptions made under each situation. please navigate to the top of the Data Export page. and select Documentation, and U.S. Economic Scenario Descriptions. KEY INDICATORS CVfrent Quarter R9A Vacancy Rate NaMet Rent AVanablaty Kate No' S DGINWISS SF Wider constilicbm 4 & 5 Star 13,630,6dd 13.4% $44.38 18.8% 7,1g5 0 873.757 3Star 25,147,988 9.0% 533.57 11.9% 0 410,436 1 & 2 Star 14.681,143 8.9% 522.38 10.8% 64 53[ 0 0 Market 56.6n.797 10.00A W-25 13.3% t62.925j 0 1,264.193 AnrAW Trends 12 Men'Ir1 Hlathr" Ferecaat Peso vam Trough when Average AVeralp Vacancy Charge. (YOY) D 7% 11.6% 10.2% 1; 2% 2D10 03 6. MOD 02 Net Abso-ptic^ SF M 545 593 463 3' 3 2, t82,727 2004 04 . ' : 0--: 2.08 0: De veries SF 217 K 76D S30 743 626 2,15 0.37S 2008 04 d5.949 2012 02 Rent Growth 5 0% 2.4% 2.1 % 6.Q% 2D 16 03 -7 t.,. 2009 04 Sales Vd-,ne S070 M $f-D6.1 M NSA S 1.48 201502 S 10' AM 20DO 04 588 Banyan Road A&C Job No 2200365.000 22 ANDEPSON CARP Retail Leasing- At the onset of the pandemic, vacancies were close to the lowest point over the past decade, however, the retail sector's outlook is uncertain. As the market reopens, the affluent seasonal residents who remained in the area may help mitigate the demand fallout caused by the pandemic. Rent -Rental rates are currently at $28/SF, close to a third above the national average. The coastal submarket has the highest retail asking rents at more than double the metro average. Construction- Construction activity has slowed significantly as the sourcing of building matrials became more complicated and expensive. There is close to 680,000 SF under construction. Sales -The current uncertain environment across the globe suggests that transaction activity is likely to slow, as uncertainty weighs heavily on investors and lenders. Overview Palm seoct, R�cail 12 Me Deliveries in SF 12 Mo Met Absorption in SF 441 K 80.2 K Vacancies were stable and close to 4.5_% before the onset of the coronavirus pandemic. A reasonably low level of deliveries over the past decade, coupled with strong demand, sent the vacancy rate on a downward trajectory for the better part of the past 10 years. The metro's major retail drivers include favorable demographics, median household incomes that are close to the U.S average, and a large number of retirees, many of which spend part of the year in the area. While Palm Beach is less reFiant on tourist activity, when compared to neighboring Miami and Fort Lauderdale_ the onset of the coronavirus pandemic in March had a profound and immediate negative impact on the metro's retail sector. All retail outlets. except grocery stores and other pharmacies, were ordered to close overnight, leading to significant toss of business activity. Construction has been very measured over the decade before the onset of the coronavirus pandemic, and the KEY INDICATORS Curren[ ouarter RBA vaommy Re" Ma s 9 566,0S7 3.M4 Power Center 3.526.642 5.8% Ns;hborhoo_ Canoe, 30.131,041 6A% St-- Center 5,020.751 6.M, Genera Reta 30.220.131 3.5% ,X-sr 800 087 0.7 % Market 7S.647,319 47% A"uW Trends 1211ovith INat{fllaw Avarego Vacancy Charge(YCY} D.J% 5.8:4 Net Absomto.r SF 80.2 K 538.883 Del. verges SF 441 K 725,386 Rent Growth 42% 1.8:1�1 Sales Vofwne $712 M S627.5M Vacancy Rate 12 Me Rent Growth 4.7% 4.2% prelease rate for properties in the works is close to 95%. Sales activity over the past few quarters was healthy, prolonging a multi -year stretch of good investment conditions_ The outlook for the market remains uncertain as social distancing measures have not only caused an immediate loss of business but will weigh heavily on demand for the rest of the year.. Costar is continuously updating market ana"cs to reflect the fallout from the onset of the coronavirus pandemic_ You may run alternative economic scenarios by navigating to the Market Analytics tab and selecting the Data Export menu. On the right-hand side of the page, you may choose from several scenarios before you download data. If you want to get more information on the assumptions made under each situation, please navigate to the top of the Data Export page, and select Documentation, and U.S_ Economic Scenario Descriptions. Mallet meat AVeRAW"Rate Mat Aboolil l n sr D&U rlse SF under conallructlon S32.89 3.64: (10.475) 1 0 $30.47 8.9% (13.5m l 0 0 320.71 8.4% (422521 0 243.220 525.87 5.6% (30.821 ) 0 0 328.la 4.5% 215,52D 222,8W 288,261 535.80 2.5% D 0 148.857 S28.25 5.9% 118.472 MAN t:M.w Forecast Mat Wlln Tro"n Wh n AVR 99 5.5% 8.7% 2010 01 3.4 % 20D8 01 364.591 1,499.808 2007 01 ;928.843) 20D9 Q3 882..838 2,537,314 20D8 04 188.573 201201 2.2% 0.1 % 2D 17 01 -5 P% 2009 Q3 N?A S 1.ae 201503 5/36.3M 2009 Q3 588 Banyan Road A&C Job No.: 2200365.000 23 ANDEPSON CARP Multi -Family Vacanirp The metro has benefited from substantial population gains over the past decade, however, economic uncertainty over the medium term looks set to dampen the apartment outlook. Rent- Asking rents have been on the decline since the onset of the pandemic wiping out most of the rent gains over the past year. Rent declines are weighing more heavily on high -end apartments, as the metro has seen substantial supply gains in the category over the past few years. Construction- The onset of the pandemic slowed construction and may lead to project delays and a slowdown in groundbreakings over the next few months as owners, lenders and developers come to grips with the changing economic landscape. Sales- Palm Beach apartment prices rose by close to 60% over the five years prior to the onset of the coronavirus pandemic. The outlook, however, has changed as the current environment suggests that transaction activity is likely to slow. Overview 12 Mo. Delivered Units 12 Mo. Absorption Units Vacancy Rate 12 Mo. Asking Rent Growth 13295 415 The onset of the coronavirus pandemic is having an immediate and significant impact on the Palm Beach apartment market. Over the short term. construction has slowedcausing future detiveries andgroundbreakings to be delayed. The disruption to the global supply chain is causing construction material prices to rise. Some proposed projects could be canceled, depending on how firm financing arrangements are and how deteriorating demand conditions are impacting a projects viability. Rent growth is the most significant casualty since the onset of the pandemic_ Asking rents have declined, wiping out the year -over -year rent growth. Meaningful rent declines are expected by the end of the year. Areas with higher construction activity will fair worse than markets with lower rent -to -income ratios and more moderate construction activity_ The focus has now shifted to collecting rents. Vacancies have not moved significantly since the onset of the pandemic. as the crisis is impacting the entire 8.0% 0.1 % market. Landlords are working with tenants that have been adversely affected by providing rent discounts, waiving late tees and working out longer -term payment plans. Vacancies are set to rise by the end of the year, primarily because of the new supply coming to market. Apartment lease -up periods are expected to rise, as people opt to renew rather than upgrade or move amid a period of economic uncertainty. We are continuously updating our market anatytics on CoStar_com to reflect the fallout from the onset of the coronavirus pandemic. You may run alternative economic scenarios by navigating to the Market Analytics tab and selecting the Data Export menu- On the right-hand side of the page, you may choose from several scenarios before you download data. If you want to get more infomlation on the assumptions made under each situation, please navigate to the top of the Data Export page, and select Documentation, and U.S. Economic Scenario Descriptions. ceirrant ouartw unb vacaacy Rate As"ing want Effwtiw rtww Unlbtlon ci wv ed units u er a", its 4 & 3 Sta• 25.261 10.0% 31,859 $1.829 81 0 3.64t 3 81ar 26.435 7.0% st,49a 31.487 7 0 1.0_11� 1& 2 Stw 12.302 B.S% 31,142 St.135 i 0 0 Maket 66.999 8.9% $1.633 $1.613 67 6 4,676 Anulual Trends 112 Meath M lowal AVWZU&Vacancy JLV t Pei! Waan Troi When Change (YOY) 1 2'. 7.€% 9.5% 10.0 % 200201 5.2 % 201403 Absorpto knits 415 1. 1 11 1. 18.9 3.570 201603 - _ , 2006 03 De; verec Units 12?5 1.277 1.501 3.2r8 201702 0 201104 Dernol shed Un is a 67 so 39e 201601 0 2020 02 Asking Rent Growth iYOY; D 1% 2.4% 0.0A2. 8.8% 200603 -3 3. 2008 04 Effective Rent C*Owth {YOY1 0 7% 2.4`: 0.6% 8.71". 200603 -3 :`: 2006 04 sales Va M S553. I NA 3 t.96 201602 S61 am 200901, 6p, 588 Banyan Road A&C Job No.: 2200365.000 24 ANDERSON CARP Residential Real Estate f FPalmBeach Summery Strtiatics Closed Sales Paid in Cash Median Sale Price Average Sate Price Dollar Volume htedtan Percent of Original List Price Received Median Time to Contract Median Time to Sale New Pending Sales New Listings Pending Inventory Inventory (Active Listings) f4onths Supply, of Inventory soommuldift Closed Sates Paid in Cash Median Sale Price Average Sale Price Dollar Volume Median Percent of Original List Price Received Median Time to Conliact Median Time to Sale New Pending Sates Ww Listings Pending Inventory Inventoty, (Active Listings) Months Supply at Inventory FloridaRealtors May 2020 May 201 , 991 1,870 47.0% 315 62849.8%. $365,000 $364,900 OA% $655,752 $S91,775 10.8% $649.9 Million $1-1 Billion •413% 95.0% 94.6% 0.4% 37 Days 52 Days -28.8% 84 Days 97 Days -13.4% 1,698 1,913 •11.2% 1,931 2,139 .9.7% 2.619 3,155 •17.0% 5.850 1,184 -18.6% 4.3 5.1 -15.7% I ii it wRealtors May 2020 May 2019 59 7 1,453 318 840 $2001000 S185.000 $343.898 $283,898 $205.3 Million $412.5 Minion 92.5% 93.6% 52 Days 56 Days 94 Days 98 Days 1,104 1,390 1,716 1,600 1,762 2,317 6,109 6,131 5.9 5.5 PemeM Change yen -lira -Tar -58.9% -62.1% 21.1% -50.2% -1.2% -7.1% -4.1% • 20.0% 7.3% .24.0% -0.4% 7.3% 588 Banyan Road A&C Job No.: 2200365.000 25 ANDERSCNJ CARP Econom err..• �-.-aa..:ar«.a PALM BEACH EMPLOYMENT BY INDUSTRY IN THOUSANDS CAAnWKLevel 12 Morin Cnanye 10 Ye Chanlib 5 Year Forsaast HA1Cs trrdustty jot. LO Market us "an-t Us M11M.t Us Manufar-uring 17 CA - I a . 7 194 -21-20% 0.794E -1 .30% 3.55014 4.2496 Trade. TrarmporLation and Utilities a8 1.0 -24 f�3% -23.90% -:..625i -1 52% 5.8096 5.42906 Retail Trade 00 1.2 -24.2'% -23.33% -0.9296 -1 85% 5.52% e.23% Financial Activities 38 1.2 —.N +"k -' 2.33% 0.749A -3 O59E 3. 13906 3.1296 Government 67 0.7 3 149E 1.77% 0.22% 0.11% 0.58% 0.409A Natural Resources, Mining and Construction 35 1.2 -1 1. 159E -13.57% 3.51-A 1.34% 3.59DA 3.281A Education and Health Services 104 1.0 -1.78% 0.06% 2.5e% 1.92% 1.3096 1.21% Professional and Business Services 103 1.3 -11.61% -10.37% 2.08% 1.329A 3.1996 2.98% Information 9 C.E -12.509E -e.009i O. te% -7 CEaE 2.019A 1.94% Leisure and FPospnahty 78 1.3 -14.499E -' 3 e9% ".47% 0.89% 3.55% 3.5396 Otfler Services 28 1.3 .7.259E -' a e7% 0. 11% -O e2% 3.79% 3.4496 Total Employment 541 1.0 -15.49% -14-07% 0.71% -0-07% 3-5874 3.46% SOurce: O eb d Eoono — LO = Location O.:otent YEAR OVER YEAR JOB GROWTH Forecast 1 Solo i 10 5!0 0% -5 -10% -15% ,r i 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Pslm Beam a United Slates Sour— Oxford Eeonornies 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. A slow but steady rebound in the market continued into the beginning of 2020. This changed in mid -March 2020 with the closing of schools, retail stores and all non -essential businesses due to the COVID-19 pandemic. With all of the closures and a stay safe at home recommended by the CDC, unemployment rates increased all over the United States and the world. Though long-term outlooks are uncertain due to the coronavirus pandemic, 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. There continues to be an influx from the northeast as the early intensity of the pandemic hit the NYC metro and many are moving to the area to escape months of quarantine. 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. 588 Banyan Road A&C Job No.: 2200365.000 26 ANDEPSON CARP TOWN OF GULF STREAM SUMMARY Bring SF 23rC Ave Gul Stream Bethesda Hospital East ��a Park Teia o tt t � i Subn ject �I culff m f+' Seacrest Scrub Natural Area ulf Stream SE 36th Ave G Gulf Stream Golf Club ,ce Gram Z -D George Bush 6Nd z The Town of Gulf Stream is a small residential community located in the southern portion of Palm Beach County, between Boynton Beach and Delray Beach. Except for the Place Au Soleil subdivision which is situated on the west side of the Intracoastal Waterway, the town is separated from the mainland by the Intracoastal Waterway and bordered by the Atlantic Ocean to the east. Gulf Stream is characterized by single family homes with well maintained landscaping and extensive outdoor recreational opportunities. A few small scale apartments and condominiums are scattered along the beachfront. Gulf Stream is known for world famous polo, exclusive golf courses, and small town atmosphere Most of the prominent buildings are of the Mediterranean Revival style architecture popularized by Addison Mizner, who designed the clubhouse at the Gulf Stream Golf Club. The Town of Gulf Stream is considered to be almost entirely built out. The town consists of a total of 521 acres of residential, public and preserved lands. Within the town, there are approximately 35 acres of vacant land with only about 3 acres of developable land left. There are no properties zoned for commercial or industrial uses. Gulf Stream has a population of approximately 1,000 residents as of 2018. The town has a council manager form of government and a Police Department. 588 Banyan Road A&C Job No.: 2200365.000 27 n:leItz* :t�l, !� ( � Access to Gulf Stream from the mainland is via George Bush Boulevard to the south and Woolbright Road to the north. The only north/south artery is Ocean Boulevard or AlA. The subject's general neighborhood area is Polo Cove. Polo Cove is an exclusive and quiet area composed of 18 single family homes (17 waterfront homes). Single family home values range from the upper $2 million to mid $5 million range. The Gulf Stream real estate market has experienced upward value trends at varying rates over the past few years and has experienced an increasing number of potential buyers looking at property in Gulf Stream. This trend should continue for the foreseeable future as more high net worth households relocate from high state and local tax areas. 588 Banyan Road A&C Job No.: 2200365.000 28 ANDEPSON CARP PROPERTY DATA Taxpayer of Record N/A Palm Beach County Property Control Number(s) N/A Assessed Value and Taxes for 2019 Because the subject is right of way owned by the Town of Gulf Stream it does not currently have an assessed value or taxes. A change in ownership could result in a change in assessed value and taxes. Census Tract The subject property is located in census tract 0054.11. Census Tract Mal? SE 2?Th P, SI-28ThCt sco Rd WQWW Gaz 3 iAve -%' 29Th Ave is Th Avc K Palmer Rd 'Id rn 4ve 0 SE31MAve W&.j�id.Ck RI in 01-54, Chu" Ra Rd E Subject 'fit CS 0" di'd L, 6uMs!ream Or 0083.01 00".91 gal Gr 588 Banyan Road A&C Job No.: 2200365.000 29 ANDEPSCNd CARP Flood Zone Designation The subject property is located on the National Flood Insurance Program Map on Community Panel Number 12099C0981F, effective date of October 5, 2017. The subject appears to lie in an area designated as Zone AE. Flood Zone AE is part of a special flood hazard area subject to 1% annual chance of flood. Zone AE is a special flood hazard area with a base flood zone elevation determined (water -surface elevation of the 1% annual chance flood). Flood Map National Flood Hazard Layer FIRMette u rI:MA 0 250 500 1000 1.500 2.000 L_u,uw 588 Banyan Road Legend Vt- er" neea eAarlee RFE) SPECIAL FLOOD Wlm an a 0". arra r ao a.� .r a HAZARD AREAS Rtgufror, toe.Af 0 2•, Amuai Cnanea fiopa XYaea, leas o! 1•. anmW fllaKa tbpa arm avaY(a Mpin Xgt loan OM Yot u birr tllarNRC .wf r resa man ene wean mIN a. !Wart CpnaAlma SA-1 6 CMnftfban NYUG _. AM aNn RMKeO FNaa Rak aue ra OTHER AREAS Of Lem- Sn Nam" FLOOD HAZARD Arse aaX Fl RNF aae m la+ee. f X Arta r Nmmul flppa NaYN Efhcure LOAIR, OTHER AREAS 4<a r Yrpemmna.ea fbop Xawo GENERAL ' _ firnnr. CvAut, or Slam Sewer STROCfURES I r r l l r r lexe. One a nxrwr�. Crou Sx+»m wnp Se Annear puncx E, a er $ rtxe Ele .lw, Tramtct — 9au Tboo flt.ar:an lMr iafE� llnbt o! SIUDY ���. An Xa•ctror &wMu, .._ Contai t.arbtct aafafxre OTHER FFATIIIIES i XWroAraonc featu.a dpaei DaU A.varHe No DlElur DaU ArsWre MAP PANELS Unmapped ® TXe pn arapNrep M rM mp b sn approtinYY Prone fedearea q me ran ura apes not reprexnt m aumarsturx pmptny Iprunr: Lpa mad fawprrea elm iEMAa aratrafm b iM we ei tiyYl epee maps p M1 b Mr ern b 0efarMa peace. 1M pafen+ap plrp+n compaef w+m iEMA'a pwemsp uerpcy awbuas TNf euiarp lnAXnaean bauNaa Wtaea, from lM errlrloaUlM NfHL ba0 amen Oda q eFA1A Ma my Ace apoaea m ] Ice 2020 al Z. is pM rra noes nr rfatl ttwrea a amawpmeras aWaaerwm ro Upa are era ema. ma xrHL aee artefrn. aawmalrpn mq w,Ra w paamr suparxaea q rre. eau err arse. TeU map rm+Ee b War n me xe a mre r the rrawrrE mp arurrenLL ao rwl poHr. pafenup Nnaaer,, rloOA eperf Ybeb aEem. awe Ar. map raven are. eammueap axraaen, fRmr prRr wmeer. err i1RM erteabe a.t< Nap aYEef rw rmmappea am unwnaemaw re.a r�nor x axe ra .eSaYrry parpoeea. A&C Job No 2275 65.000 30 M- ,I 1:*71,011M4 1Nf' Zoning and Future Land Use The subject property's use is dictated by the Gulf Stream Zoning Code and Comprehensive Plan. The Gulf Stream zoning and future land use maps indicate the subject property has a zoning designation of RS-C: Residential Single Family- Gulf Stream Core District with an underlying land use designation of SF- Single Family. Permitted uses under this zoning category generally include, but are not limited to; residential uses. Zoning Map s _— --•---- Subject ,�µ•.�;1 ___ OR on i El ." + OR ZI I i` 'M.,_ • • sL.l It i RM I 7777 IVr 4 I [Or 5 j „r01r6 l l �— ..porn... L Fyn t I -'—GULF 5!"QEA.+I OCfAN rQACrS � , RM .n ... i l+,.....I� 'i 11�.- I � bus A�nnrr,srser< 3�j ;'� 588 Banyan Road A&C Job No.: 2200365.000 31 ANDERSON CARP 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. 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. Because the subject is a right of way and has been for many years, a sales history for the subject is unavailable. To the appraisers' knowledge the subject property is not currently listed for sale or subject to a current purchase agreement. 588 Banyan Road A&C Job No.: 2200365.000 32 ANDEPS©N CARP 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 within the Polo Cove subdivision at the dead-end of Banyan Road between the Intracoastal Waterway and North Ocean Boulevard. The property address is 588 Banyan Road, Gulf Stream, FL, 33483. Size and Shave We have relied on the site size for the property from the survey provided by the client. The site is a square shaped parcel of land having roughly 50 feet on Banyan Road. The subject site area is approximately 2,500 square feet or 0.057 acres. Topography and Drainage The site is level and near road grade. Drainage appears to be adequate for its current use. Access Access is via Banyan Road Easements or Encroachments The sketch 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 on -site 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 subject's land appears to be composed of typical loose South Florida sand. 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. 588 Banyan Road A&C Job No 2200365.000 33 ANDEPSON CARP Adjoining Parcels In an "across the fence" valuation, the concept is that the usefulness or potential for an otherwise useless parcel of land (generally very thin alley, road, or canal strips of land) like the subject is derived from the highest and best use of the adjoining parcel with the potential derived from inclusion or assemblage with this adjoining parcel. The highest and best use of the underlying land is based as if it were available for development in the open market. The highest and best use of the adjoining underlying land is for residential development, in keeping with neighborhood market trends. Therefore, the subject's potential and value is derived from sales/values of similar lands in the area. 588 Banyan Road A& -Job No 2200365.000 34 ANDERSON CARP 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. The subject is vacant land, therefore only the first two steps apply. The subject site contains roughly 0.057 acres and could physically support a number of uses. These physically possible uses must be legal, reasonable, probable, and a logical continuation of surrounding uses within the subject property's neighborhood. The subject is currently zoned RS-C: Residential Single Family- Gulf Stream Core District for Single Family use. The surrounding area has been developed mainly with single family residential uses in the past. The subject site is zoned for RS-C: Residential Single Family- Gulf Stream Core District use. However, its narrow configuration makes it more or less useless for anything other than a roadway, parking lot, alley, driveway, utility, or railroad spur track. It could not readily be developed as a stand-alone parcel. This parcel has little, if any, development potential to anyone other than the adjoining property owner. This type of property is almost exclusively purchased privately by the adjacent land owner for assemblage and almost never sold in the open market. Depending on the entities involved, the value of this type of property is sometimes discounted for size and width, configuration, and lack of development potential. In more and more cases, however, the selling parties demand full value with no discount based on an across the fence value. The highest and best use of the subject property is for assemblage with the adjoining property. This would result in the most utility, development potential and highest value. It should be noted that an "across the fence" value ignores the highest and best use of the property on a stand-alone basis (which would include a discount for configuration and utility). The highest and best use of the subject property is for residential development in keeping with current market trends. 588 Banyan Road A&C Job No 2200365.000 35 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). Credit markets have constricted over the past couple of years but are now showing signs of easing and financing for commercial and residential properties appears to be more readily available at this time. Most properties offered for sale have been exposed on the market for six to twelve months or longer. The MLS reported the historical marketing times (exposure time) for 24 vacant land properties from Highland Beach to Manalapan from January 1, 2017 through July 22, 2020. The marketing time ranged from roughly 0 days to 1,266 days, with an average of 281 days. We believe if appropriately priced and marketed, the subject would sell in the middle portion of the time frame range exhibited by the MLS data. 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 six to twelve months. Looking forward, we feel this would be a reasonable estimate for marketing time as well. 588 Banyan Road A&C Job No 2200365.000 36 ANDEPSON CARP 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. 588 Banyan Road A&C Job No 2200365.000 37 ANDEPSON CARP SALE NO. 1 - 3400 Polo Road, Gulf Stream, FL 33483 AC File No.: 2200365 ID: 911547 OR Book/Page: 29770/1319 Type: Land Sale Status: Sale Sub -Type: Single Family Lot Date: April 9, 2018 Grantor: The Joan W. Leslie Trust Grantee: Michelle F. Clark & Kevin C. Clark Legal: Lot 10 and the North 50 feet of Lot 11, Polo Cove, Plat Book 24, Page 73, Public Records of Palm Beach County, Florida. Folio No.: 20-43-46-03-02-000-0100 Location: West side of Polo Drive, east of the Intracoastal Waterway and west of North Ocean Boulevard, Gulf Stream. Zoning: RSC- C - Residential Single Family -Gulf Stream Core District by Gulf Stream Land Use: Single Family Utilities: Municipal water and sewer, electricity, and telephone 588 Banyan Road A&C Job No.: 2200365.000 38 ANDEPSON CARP Site Size: Square Feet: 24,825 Acres: 0.570 Shape: Rectangular Street Frontage (Ft j 155 Topography/Elevation: Level, near road grade Use: Use at Time of Sale: Vacant Residential Intended Use: Single Family Highest and Best Use: Single Family Home Verification: Source: Kevin Clark, Bob Banting Relationship: Buyer Conditions of Sale: Arm's-length Verified %: Z. Rossetti Date: July 29, 2020 Sales History: No transactions in the previous five years Sales Price: $3,450,000 Price/SF Land: $138.97 Price/Acre: $6,052,632 Financing: Cash to seller Comments: This is the sale of a single family waterfront lot in Gulf Stream. The property is situated on the east side of the Intracoastal Waterway within a Polo Cove. The site has approximately 150 feet of waterfrontage however, there is very limited direct Intracoastal views due to the site's interior location within the cove. At the time of sale, the property was improved with a single family home containing approximately 4,931 square feet which was demolished after closing. The property was purchased based on the land value. 588 Banyan Road A&C Job No.: 2200365.000 39 ANDEPSON CARP SALE NO.2 - 4320 Intracoastal Drive, Highland Beach, FL 33487 AC File No.: 2200365 ID: 911548 OR Book/Page: 29773/1369 Type: Land Sale Status: Sale Sub -Type: Single Family Lot Date: April 10, 2018 Grantor: Joseph P. Campi Trust Grantee: Second Stage Investments, LLC Legal: Lot 15, Block 4, Bel Lido, Plat Book 25, Page 97, Palm Beach County, Florida. Folio No.: 24-43-47-04-02-004-0150 Location: West side of Intracoastal Drive on the east side of the Intracoastal Waterway, west of South Ocean Boulevard, Highland Beach. Zoning: RS - Residential Single Family by Highland Beach Land Use: Single Family Utilities: Municipal water and sewer, electricity, and telephone 588 Banyan Road A&C Job No.: 2200365.000 40 ANDEPSON CARP Site Size: Square Feet: 13,072 Acres: 0.300 Shape: Rectangular Street Frontage (,Ft.L 105 Topography/Elevation: Level, near road grade Use: Use at Time of Sale: Vacant Residential Lot Intended Use: Single Family Hijzhest and Best Use: Single Family Home Verification: Source: Lauren Lispi Relationship: Buyer's Agent Conditions of Sale: Arm's-length Verified By: Z. Rossetti Date: July 29, 2020 Sales History: No transactions in the previous five years Sales Price: $2,800,000 Price/SF Land: $214.20 Price/Acre: $9,333,333 Financing: Cash to seller Comments: This is the sale of a single family waterfront lot in Highland Beach. The property is situated on the east side of the Intracoastal Waterway within the Bel Lido Isle subdivision. The site has approximately 107 feet of direct frontage on the east side of Intracoastal Waterway. At the time of sale, the property was improved with a single family home containing approximately 3,538 square feet which was demolished after closing. The property was purchased based on the land value. The buyer is a local investor that flips single family lots in high end neighborhoods. At the time of this sale write up, the property was listed for sale on the MLS with an asking price of $2,999,000, or $229.42/SF land. The property has been listed on the MLS for 307 days with the original asking price of $3,500,000 ($267.75/SF land). 588 Banyan Road A&C Job No.: 2200365.000 41 ANDEPSON CARP SALE NO.3 - 4202 Intracoastal Drive, Highland Beach, FL 33487 AC File No.: 2200365 ID: 911549 OR Book/Page: 30270/0735 Type: Land Sale Status: Sale Sub -Type: Single Family Lot Date: November 20, 2018 Grantor: JMW Florida Properties III, LLC Grantee: Non Sibi, LLC Legal: Lot 26, Block 4, Bel Lido, Plat Book 25, Page 97, Palm Beach County, Florida. Folio No.: 24-43-47-04-02-004-0260 Location: West side of Intracoastal Drive on the east side of the Intracoastal Waterway, west of South Ocean Boulevard, Highland Beach. Zoning: RS - Residential Single Family by Highland Beach Land Use: Single Family Utilities: Municipal water and sewer, electricity, and telephone 588 Banyan Road A&C Job No.: 2200365.000 42 ANDEPSON CARP Site Size: Square Feet: 11,308 Acres: 0.260 Shape: Triangular Street Frontage Ft.L 42 Topo rg_aphy/Elevation: Level, near road grade Use: Use at Time of Sale: Vacant Residential Lot Intended Use: Single Family Highest and Best Use: Single Family Home Verification: Source: Candace Friis Relationship: Listing Agent Conditions of Sale: Arm's-length Verified By: Z. Rossetti Date: July 29, 2020 Sales History: Sales Price: Price/SF Land: Price/Acre: Financing: Comments: Previously sold for $1,825,000 in May-2014 recorded in County OR Book 26780 Page 0556 $2,500,000 $221.08 $9,615,385 Cash to seller This is the sale of a single family waterfront lot in Highland Beach. The property is a point lot situated on the east side of the Intracoastal Waterway within the Bel Lido Isle subdivision. The site has approximately 170 feet of direct frontage on the east side of Intracoastal Waterway. The buyer owns the adjacent property and purchased this property so they can build an addition to their house and have more yard space. 588 Banyan Road A&C Job No 2200365.000 43 ANDERSON CAPP SALE NO.4 - 4205 Intracoastal Drive, Highland Beach, FL 33487 AC File No.: 2200365 ID: 911550 OR Book/Page: 30657/0270 Type: Land Sale Status: Sale Sub -Type: Single Family Lot Date: June 3, 2019 Grantor: Second Stage Investments, LLC Grantee: Eric Bernier Gestion Legal: Lot 28, Block 4, Be] Lido, Plat Book 25, Page 97, Palm Beach County, Florida. Folio No.: 24-43-47-04-02-004-0280 Location: East side of Intracoastal Drive, north of Be] Lido Drive and west of South Ocean Boulevard, Highland Beach. Zoning: RS - Residential Single Family by Highland Beach Land Use: Single Family Utilities: Municipal water and sewer, electricity, and telephone 588 Banyan Road A&C Job No 2200365.000 44 ANDERSON PARR Site Size: Square Feet: 11,495 Acres: 0.264 Shape: Triangular Street Frontage Ft.): 70 Topography/Elevation: Level, near road grade Use: Use at Time of Sale: Vacant Residential Lot Intended Use: Single Family Highest and Best Use: Single Family Home Verification: Source: Lauren J Lispi Relationship: Listing Agent Conditions of Sale: Arm's-length Verified By: Z. Rossetti Date: July 29, 2020 Sales History: Sales Price: Price/SF Land: Price/Acre: Financing: Comments: Previously sold for $1,550,000 in December 2015 recorded in County OR Book 27976 Page 0088 $1,850,000 $160.94 $7,007,576 Cash to seller This is the sale of a single family waterfront lot in Highland Beach. The property is situated within a cove on the east side of the Intracoastal Waterway in the Bel Lido Isle subdivision. The site has approximately 160 feet of water frontage however, does not have any direct views of Intracoastal Waterway. The buyer purchased this property and plans to build a custom luxury home for themselves. 588 Banyan Road A&C Job No 2200365.000 45 ANDEPSON CARP SALE NO.5 - 1099 Spanish River Road, Boca Raton, FL 33432 AC File No.: 2200365 ID: 911551 OR Book/Page: 31006/1577 Type: Land Sale Status: Sale Sub -Type: Single Family Lot Date: October 30, 2019 Grantor: Aubrey Derek Besser Grantee: 1099 North Land Holdings, Inc. Legal: South 100 feet of the North 125.7 feet of Lot 5, Block 5, Spanish River Land Company Subdivision, Unit One, Plat Book 16, Page 90, Palm Beach County, Florida. Folio No.: 06-43-47-29-05-005-0051 Location: West side of Spanish River Road on the east side of the Intracoastal Waterway, just south of East Camino Real, Boca Raton. Zoning: R1A - Single Family by Boca Raton Land Use: Single Family Utilities: Municipal water and sewer, electricity, and telephone 588 Banyan Road A&C Job No.: 2200365.000 46 ANDERSON CARP Site Size: Square Feet: 17,001 Acres: 0.390 Shape: Rectangular Street Frontage (Ft.): 100 Topography/Elevation: Level, near road grade Use: Use at Time of Sale: Vacant Residential Intended Use: Single Family Highest and Best Use: Single Family Home Verification: Source: Jeff Norman Relationship: Buyer Conditions of Sale: Arm's-length Verified Bv: Z. Rossetti Date: July 30, 2020 Sales History: No transactions in the previous five years Sales Price: $3,000,000 Price/SF Land: $176.46 Price/Acre: $7,692,308 Financing: Cash to seller Comments: This is the sale of a single family waterfront lot in Boca Raton. The lot has approximately 100 feet of direct frontage on the east side of the Intracoastal Waterway. The buyer is a local developer who has purchased a number of lots in the area to build and sell custom luxury homes. At the time of this write up, the property is listed for sale on the MLS with an asking price of $9,950,000 (RX-10626307). According to the listing, the site will be developed with a single family luxury home containing 7,000 SF of living area to be delivered 2021. 588 Banyan Road A&C Job No.: 2200365.000 47 ANDERSON CARP SALE NO.6 - 415 East Alexander Palm Road, Boca Raton, FL 33432 AC File No.: 2200365 ID: 911552 OR Book/Page: 31070/0446 Type: Land Sale Status: Sale Sub -Type: Single Family Lot Date: December 2, 2019 Grantor: George & Donna Zoley Grantee: G. Robert Sheetz Legal: Long Legal, see deed. A portion of Lot 52, Block 1 of Royal Palm Yacht and Country Club Subdivision Folio No.: 06-43-47-29-10-001-0521 Location: West side of E. Alexander Palm Road, west of the Intracoastal Waterway and east of Federal Highway within the Royal Palm Yacht & Country Club, Boca Raton. Zoning: R1A - Single Family by Boca Raton Land Use: Single Family Utilities: Municipal water and sewer, electricity, and telephone 588 Banyan Road A&C Job No.: 2200365.000 48 ANDEPSON CARP Site Size: Sguare Feet: 22,878 Acres: 0.525 Shape: Rectangular Street Frontage (FQ: 117 Topography/Elevation: Level, near road grade Use: Use at Time of Sale: Vacant Residential Lot Intended Use: Single Family Highest and Best Use: Single Family Home Verification: Source: David Roberts Relationship: Listing Agent Conditions of Sale: Arm's-length Verified Bv: Z. Rossetti Date: July 30, 2020 Sales History: Sales Price: Price/SF Land: Price/Acre: Financing: Comments: Previously sold for $3,225,000 in April 2014, recorded in County OR Book 26727 Page 0446 $4,500,000 $196.70 $8,571,429 Cash to seller This is the sale of a waterfront single family lot located in the Royal Palm Yacht & Country Club. The lot has approximately 87 feet of waterfrontage on an interior canal with no direct Intracoastal Waterway view. The buyer is a local developer who has purchased a number of vacant lots within the Royal Palm Yacht & Country Club to develop luxury single family homes for sale. This property was listed for sale on the MLS with an asking price of $4,875,000 ($213.09/SF land) and sold after 6 days on the market. 588 Banyan Road A&C Job No 2200365.000 49 ANDEPSON CARP Comparable Sales Location Map if iutai I api n iy to Country Club '< -� Golf m I-Sut Dunes Road C- S High Point C. U) C Kings Point+ t� L e CL 3CL pr m elk 79a z Florl Allan at Q1 Univei n nCt Boca Raton a 9. v vj 4 ruff St.: -i c r Boca Del Mar _ Boca Pointe 6 Deer ers Park © Bez T R SR' 10th st 588 Banyan Road A&C Job No.: 2200365.000 50 Q z O w 0 U � 00 � •-- G �.^ �G 7 O O O O O O U O O O O O C CIO 0q, 64 b9 64 64 Ef3 b4 ro v� CA N 00 Irl D r-+ O O 00 [� M O M M N N O M 00 W) V. l- O N O N O c U'U ,t'cz > -o O N N N O a O O O a o coo W m ro w N NMr CN O O x en MM O r4 0 N O O Z - OM O MM O M - M O O x 00 00 p, o, C) - ro -- N i. M r• kn U �c V O ANDEPSON CARP 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 land. The sale price per square foot of land correlates well among the comparable sales and is commonly used by buyers in this type of analysis. Property 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. Financinp- 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. Market Conditions The sales occurred over the period from April 9, 2018 to December 2, 2019. The market has shown improving market conditions over this time period. Due to the uncertainty of the current pandemic, we have not adjusted the sales for the first 6 months of 2020. Any gains during the first part of the year have likely been offset by the current market slowdown. There is not yet any hard market evidence of a change in values, however, we believe that the market has slowed down and may be heading towards a decline in values if there is not a quick resolution of the pandemic. Sales 1, 2, 3, 4 and 5 required upward adjustments at a rate of 0.5% per month. Sale 6 does not require any adjustment for market conditions. Location The subject property is located adjacent to 588 Banyan Road in Gulf Stream. This is a waterfront property with desirable and expansive Intracoastal views. All of the sales have similar waterfront locations. Sale 6 is located in a community (Royal Palm Yacht & Country Club) with very strong demand therefore a downward adjustment for location was necessary. Sales 1, 2, 3, 4 and 5 required no adjustment. Size The subject property is 2,500 square feet of land but an across the fence valuation is based on the values of nearby properties of differing sizes in the adjoining development. Accordingly, no adjustment for size is being applied. 588 Banyan Road A&C Job No.: 2200365.000 52 ANDEPSON CARP Site Conditions Properties of all different shapes can typically be developed. Some properties, however, allow for a more efficient development of the site providing for the maximum development intensity. Neither the subject nor the comparables appear be impacted by their shape in such a manner as to limit their development. Another factor considered here is the existence of any physically detrimental site conditions such as contamination or muck. Neither the subject nor any of the comparables were known to suffer from any detrimental site conditions. The subject is situated on a point lot with broad views of the Intracoastal Waterway. Sales 2, 3 and 5 have similar views when compared to the subject therefore, no adjustments were made. Sales 1, 4 and 6 are situated on a lagoon/cove/interior canal and has limited views of the waterway, therefore upward adjustments are necessary. ZoninglLand Use The subject property has a zoning designation of RS-C: Residential Single Family- Gulf Stream Core District by Gulf Stream with an underlying future land use of Single Family by Gulf Stream. Though they may vary by municipality, all of the comparables have similar single family residential oriented designations that allow for similar uses as the subject. No adjustment is warranted. 588 Banyan Road A&C Job No.: 2200365.000 53 c 0 cq o 0 C 69 N 69 � f!i V3 f/3 �I G< E= N U< Q t N C r1 C M 7 C C O . � a u En p„ t S � U ¢ � ss O M ss ss v3 ss vs O Zr•O rn O o;. or- V; O: ON 00 00 7 p per, T1 IO a ttl C ^ O O N N O `D O --i O C j y V� r- O\ O N 00 O 7 Ic 't O r Q _ y cCR}} �l 00 69 N 69 N 69 o - vS Io •�• 69 1 �' 69 Z 'p 00 V N O M 7 r N N r l .9 _ RS O G� .fl � � � � •� o Q o 0 0 b � � �, ` a b co con- CD ON by O o�0 O OD ON Ow c'n C'J 7 x 7 x v .`i W W 00 L1 Q` D\ Ln R ANDEPSON CARP 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 land. 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 $138.97 to $221.08 per square foot of land area. The preceding quantitative comparison chart shows the value range for the subject property after adjustment based on a price per square foot of land area to be from $179.11 to $235.62 with a mean of $212.45. 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 land area for the subject property of $210 as of July 22, 2020. Total value is calculated as follows: 2,500 Square Feet @ $210 per Square Foot = $525,000 Rounded To: MARKET VALUE VIA SALES COMPARISON APPROACH: $525,000 588 Banyan Road A&C Job No 2200365.000 55 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 Amusement Parks Condominiums Mobile Home Parks Auto Dealerships Shopping Centers Department Stores Industrial Buildings Service Stations Vacant Lots - Acreage Leasehold Interests Apartment Buildings Hotels - Motels Office Buildings Special Purpose Buildings Residential Projects Financial Institutions "I am currently certified under the continuing education program of the Appraisal Institute." Churches Marinas Residences - All Types Restaurants Golf Courses Easements Appraiser Licenses RICK SCOTT, GOVERNOR JONATHAN ZACHEM, SECRETARY dDpr STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REAL ESTATE APPRAISAL BD THE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THE PROVISIONS OF CHAPTER 475, FLORIDA STATUTES BANTING, ROBERT B 521 S OLIVE AVE WEST PALM BEACH FL 33401 LICENSE NUMBER: RZ4 EXPIRATION DATE: NOVEMBER 30, 2020 Always verify licenses online at MyFloridaLicense.com a a �T Do not alter this document in any form. +1+rk�t T This is your license. It is unlawful for anyone other than the licensee to use this document. ADDENDUM Survey �o Y � ReORiH 50' NORTH 50 OF LOT 2A 10.00'(P&M) r*CO CORNER RNER OT 1OT 2 n r E.tS w VAIa a LIM, • T, "a ! rV r. WATER WA NO I ' 100.00'(P�M) real. � E13 ftp i o COF" A cow.cFt IN WA`LR ; ! h !G. ♦ C.F 17... ! I t fo !!7 1V?.l1 inif SOUTH 50 WJ" YkAls . E cotum"t Tt •n �, n, tiRAYEi Of LOT 9 SOUTH SO . +a a. e�e • E _.. n tw . v OF 1 OT W n t ♦e ClIsc CACA1"ta se bFif'�1F hAY 04 rr 500.00'(PBMiw�ck. , c0wc j AC $ � T}frltR COWMCA i } ♦1 ! i NALA wu« V v Y F�►vTEF 0 CL V' N xt ti f �� C _1T; _ � Ir e C LOT t 1 1 c't Lb rem VA TRIP y o � � � . � __� .=::T•`x+m • Cti s....=a�x,.-...arau�.=z.�-tcs+'--.iw+.+++wwsrwr � 7- � f"`.+°:KT• 17000'(PALM) Fccf;Fr, C; FPlEh Gf*"N v WATLk i :1 E., nr WArf m Plat Map SkNYAN R 0 A 0 2 4 C �I r i I 5 , 6 7 e 9 9 � � I 19ru a an r cm..y� t0 a > no +4 g N w 1 V 12 1 I N L + _ -_ e� LAKEVFEW OafvE (PriVale) io J ` v 1s 1 I v J !zi co O I Q 2* 14 b o JL4 a F Q i S f L CFi f t 28 15 -T Co �` � 4 C• � R.,p r � Bv4k htl� 1f�1-T � f I r22 I k 6 j 3fy`j 20 19 16 17 16 +.. t1. 7 1 � 1•i1'M ° 21 PA L M WAY ti ` LU w w IMM 06 Cl) F- IL LLJ N LL W LL CD N / W � M L W Q � Z LL J od O m= Q Cn z a U O FM (n H Z w Z O U U- O w J m Q cV W ch , c) Q N O a t o =3 Q H U W N 0 O U jL 4. U) � U) V m t cn r1 /D O N W a) 0) _0 m 1 d O a) a' N 0) 70 m O a 0) _0 m O 0) _0 m U) L LM O 2 C cu (Q E O O N O N L Qi O U L u N O E2 N O O O U M N N -C E CD > O d) O Z L fl N U N Ef3 � E (D c O m >, O O — cv L o N Z O E a)0 � O O 00 N _0 E v, N C N O o) O O 0 _ cu > U O C U "p i N C O O LL >% L � U O _ 3 N O N N O O N ON 0 LL L a+ L N O E ca a c a� } �41 0 LL L :u E L o D �O O N ' Q O a) > Q C "0 O Q M= Q L 0 N - Q T E C a) O i O O O N �_ > 4-1 U) a) E -� 2 0 U) cv O o 0 0 0 0 O o Cl 0 0 0 0 0 0 0 0 o O o 0 0 0 o O o 0 00 00 r 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 Cl O O O O Cl O O O O O O O O O O O O O kn tO 69 69 6A 69 69 6A V9 69 69 69 69 69 69 69 69 69 69 69 6n 69 69 69 69 69 6A 69 69 'o O W 00 C � In 7 N N LL, 69 6n 10 w N 7 U 2 0 0 0 0 0 0 0 0 o O 00 0 0 0 0 0 0 o O o o 0 0 0 0 0 0 0 00 r 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 N O O O O O O O O O O O M O O O O O O O O O O O O O O O O O M r 69 69 TA (A EA 69 09 (Inb°3 69 r1 IA 69 GI) 6n 'AEa9 'AfA b9 69 'A 6n 69 69 69 69 69 M n C 1 b ON big LL x 9 N N lC N c c d IL O O O O O O O O O O O O N V N 'T O C O O O O O O O Cl O O O N O O O O O O O O O O O O M r O O O O O O O O O O O Cl O O N r O O O O O O O O O O O 00 O r O O O O O O O O O O O O O O 00 '6 69 6A 69 69 69 b9 69 69 69 69 69 00 ^ �O 69 69 69 69 69 fA 'A69 69 fA 69 69 'A 6n Vn C o , Coc LL - .o 'I oo C 7 O d r O O O O O O O O O O O O O O O O O N h O O N N O O O O O O O O O Cl O Cl O O O O O M O O O O, r M O m O N O O O O O O O O O O O O O O O M 4 �6 O wn O r 16 r �O C� O �O 'p 69 69 65 (oi 69 69 65 69 69 69 69 69 64 69 6n ON O N r C O r N N M r O 65 M r Cl� C1 .� 7 vi vi M N vi 0, ao r v� M oo .i LL L W' N 69 69 N IO r- ,-., 69 fA O ?� 65 69 69 6A 7 r o0 vi M 00 O1 kn O O O O O O O O O O O O O O O Cl O O M r oo O O O O O O O O O O O O O O O O O O R O O O N -n 7 a1 N O W) 0 O CD Cl O O O ClO O O O O O Cl O O ClO � M N r 7 7 V OG O O 000 69 69 69 69 69 611 69 69 69 69 69 b9 69 69 69 69 69 69 R? r- oc vi v o a, r 6A oo e LL N 69 OC r oo R h M 69 N N N N N N 69 v jp 69 69 69 69 in �p 69 :A C d cw [] C bD `v U > y m m U Z- 3 0D m z cls c o w u v' 1-0 � � C fb U b p ro'� ro F, m � � p� � aS � v � p � �i •v O � is Gp v .0 i3 O Q _F > a 7 ° �° E c °a ¢ D. o o E U Q h v h po o b .5 N ° ° ° v Q u ti ro ro ro ro >, ro ro > C ro ti ro � o b o o 0 Q U U U U co U Q A a a U a Q U Q Q Q a �3 ¢ u a U x [- CD co a c 7 LL 10 O 0 N 7 <qi S O a C LL x m F U) d 10 N T C C d a n n a C 7 LL a C 7 O V O N a c O a C 7 LL SN i O O a C 7 LL l0 c C N 0 C O o 0 0 0 0 o C o O C O 0 0 0 00 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o rn 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o v 69 6s 69 69 6s cA 69 69 6n 603 6s 69 69 6s us 6s �o N bs 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 C C O O O C O O C Cl C C O O O Cl 65 69 61 69 un 69 6s us uq 69 6n 6s 6s 6s us 6s O O O O O O O O O C O O O O O O O O O O O O O O O O N O O O O O O O C C O O O O O O DO O C C O 69 6s 69 69 69 6s 6s 69 6A 69 �c 69 6s 69 6R 69 N o, V 69 O O O O O O C O O O O O M N N O 69 69 69 6A 69 6s 69 69 EA 6s 601) 00 69 10 N O N 6s V iA iA 6s M a, V o0 O : 0o O O O O O O O O O O O r C o0 -,I- o`. M It C O C O O O O O O �o C> 00 o0 69 N 69 69 bs bV v O N 00 r D\ V3 t 0 0 0 0 0 0 0 O O N O O O O O M O O O 69 69 M 69 6A 69 h O O O N O O O O O O O O 6s (A 69 O 'ch In 60s C W M 69 C O O C N 7 O O O O D o0 bs bs bs v3 o I� m N O � C N M 65 6� O r O O O O O O O O O O O n O C O O N •--. � N 69 613 b9 69 r 69 �O 6s 69 u u C etl L G U ¢ 7 F o O `n A ¢ cx tl F M F M M c 0 x F cFd C: Q v' U v' p U K 0. p cd .7 W 'O �° 2� iC U. U td W u. V J9 cC M LE v 04 N rUii Fa C 7 O o O C O o O 0 O 0 O 0 O 0 C 0 O 0 O 0 O O O o C C O o O 0 O 0 C 0 O o O C O o O 0 O 0 O 0 d 01 m O V'i O N 6n O O �O O O 69 Vi O M 00 Vl O O N -+ EA C O V1 N 69 O C r- M 6n C O O O l- 6n O C O O O O O O O r- M69 O O 6n O O 69 O O O, N 69 O O O N N 69 O O -,t 6A C O O a� �c 69 O O M 6n O h 69 O W) t- 69 O O O O 69 O O O O b9 O O O 00 O O 00 M 69 N O O O C O O O O O O O O O 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 V O O O O O O d C (Q v'1 O ... N b9 O O vi D 6n O O .-• 69 �n CD 00 �/1 b9 C C bn O �n N Fig O ul M 69 C o0 V1 O 7 l� [� N b9 O O, vi M M 69 O O 69 CDCDa,O O .- b9 O O CT N 69 O CD N N 49 O V O O O O, 'O E CD O M 69 O V' 69 O v'1 [- N_ 69 ; N h V 'V v1 -tT CD O O 0o 6n O O oD M O C O O O O O O C O O O O O O O O O C O O O C O O O O O O O O O O O C O C O O O O O O O O O N O y 7 m v') O W � C O O vi O O kn -+ 69 Wn O M 00 t O O N -- 69 O O N 69 O C M 6n O O O O oq O C C O O 69 O O O O M b9 O C ^- bn O O ^-� Ff3 O O O O, 6N9 O O O N 6N9 O O V 69 O O O O,--�-- VO4 O O cn 6A O 69 O [- N 69 O O O O O O O C os O O O 0o .� 69 O C o0 69 N 6A W L 'f+ V / �✓ A\ M L ai 4—•-• O O v O C ds cD O O bn O O 69 O O us O O � O O O O O O 'o N O C M M O O bq O O bs O O ve O O bn O O vs O C bn O O bon O C A O O IA 0` DD � 4�9 C� o0 � 6�9 O C 6n O O ds W U O o v a 's In v3 (p = a o O o O 7 o C h M r M IO o O r IO M M m M �O o O 0 O 0 O 0 O 6 cv oo o M 0 M m M �O 3 O O '+ � Gi C l6 L O in u 00 M O Vl 69 1-; N .--• 69 vi N r M O O 6n M 00 6A M 00 69 �O 69 O V N 69 �O ^ N b9 M M 6R M M Y. --� N 69 M M bf3 M M O V� v V9 oo O 69 !F O N O, N � 6A M M 69 �O ^' 6n ^�' W L V O O �-. V C C M cn M M M M O O M M M M M M �O lG O O O O O O O O �O --� N DO 10 Iq IO Iq M M 'O 1D C O C d 4) C1 W M O V1 In 00 M 69 O h n el) 69 V1 N .-. 69 67 N l� M 69 O O .--• 69 o0 O N 6n 00 O M 6H M M 00 v1 6 9 O O O Vi N 69 M M o0 C M 6n M ^' M ^' �O V N 69 M o0 •-• 69 M 69 O l� k(1 69 00 ,-• .-., O_ 69 IO .- V 609 I�O •-• V 69 M 00 69 �D M 69 L V O O O O O O C O O O O O O O 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 64 O 69 O 61i O 613 C 6n N N O O, O IO C V> O 69 O 6H O 69 O 69 O 69 C 6A O 6A O 69 O 69 o0 V1 Do Vt O 69 O 69 3 O N N m M 7 69 a 69 (i 69 69 69 Q O K d o C > Qi to v a O i, O~.. 7 Q 7 7 E T x f- p F OO 0. O m C A v y O' r- [i �', V U J w o C 0.� v .`ems v u. o N V O 0. 0% O . G v vS o O� (b 0.� V� V W v o ,�_, g. r/) O ,� v o= y > C ' G ro Ln > y U ctl v O U� C ` v K G C v > v ce .. > ❑ O O ti t o o a rn u at Q1 0 o O 0 0 O 0 0 O 0 0 0 O 0 0 0 O 0 0 0 O 0 0 0 O 0 0 0 O 0 o 0 O 0 O 0 O Cl o 0 O O 0 0 Cl 0 0 0 O 0 0 0 O 0 0 00 O 0 0 O o 0 o O O O knv tn o o 7 0 0 o M O 0 00 O O 0 O o 0 0 h 0 0 0 00 0 0 0 O, 0 0 0 O 0 0 0 O O 0 0 O o 0 0 O 'p 7 m aD O r vl 69 O t- v1 69 O 10 vl O �O h O N 01 O M 69 O M 69 O oo N O Ni Yi O N 69 n N 69 r O 6s N 69 O CDo0 O 10 'O W 00 W rr M O� --� M �_ 7 O � r 69 O vn 6) 00 m 69 t1 N T 6ii M 7 On W) H3 O O O m O N W) 69 O 0 N 99 e" N Co N 69 69 69 Ea9 69 69 69 Vi 69 69 69 69 41 O O O O O O O O O O O O O O O O O O CD O O O CD O O O O O O O O O O O �D M �n O O O O oO --� G �c O r ^� kn M 00 00 O O O O O't O o O O O t` W)'Ir N m N Ci C 10 '� 00 --� N O r tn 69 O r h 69 O �O h O �D kn O N 01 O m 64 O M �•••� 69 O 00 N O N_ 69 O N_ 69 N N 69 r � O h 69 N O O O �D 69 �--� 00 �D 69 �"� O� R .N V1 �--� 69 N m D\ M 69 O In r 69 �O 69 O< In en 69 I � 00 69 V? , 69 Cl W) 69 M t` r N W)69 O D\ It 6s (0 O, 69 i69 69 69 69 69 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 O O O O O O O O O O O O O O O to O O h O O 01 O O O O O O O O O O O C1 O O O O O O O O O O O O O O O a+ d 'O O ao N O O vl O O h O O to O O � O O N T O O M O O M O O 00 02 O O N � O O N O �n N iA O r 10,h O O O N 6q O O O O O V; 00 %A W m 00 v M .-• M c+l 7 O O h r O O to 69 V'1 �--� 00 M Do �n N O1 M O cl h 69 O O O O O O N �n O O O N m 69 69 69 69 69 69 69 69 N Fi3 69 69 69 69 b H9 69 69 69 6o3 69 69 M 69 69 6r9 O O O 69 O O O 69 O O O 69 O O O 69 O O O 69 O O O 69 O O O 69 O O C 69 O O O 69 O O O 69 O O C fH O O O O O 69 0 69 O 69 O 69 O O 00 r-I M O m O O O 69 N C� = 00 O, '": M -,t m Oo M vp N W w O O 69 O C �O O M 7 o0 r h M M 7 O, 6s 00 r us ~ En M 69 N N 6A O 69 OO N cq lO N i cl N 69 O� O� O O O O O O O O O O O O O O w O O 0 IO IO O O O IO IO N tq to z N N O 'V; M O O O oD O r [� �O kn N D1 N Iq W) ID IIR O O O M M O lO lD 10 to 64 kn 69 6� 69 69 69 69 h 6v In N 6v ^ 6v9 O O h Nl N r �"� r N 69 C1 M en to N �c 69 N 69 M O, 69 �O 69 v't m d`9 D\ 7 N 69 D\ ^ 69 10 'V 69 69 69 by 6`9 69 69 � 69 O, O, O O O O O O O O O O O O O O O O O M O O M O O �O O O O O O O O O O O O O �O lD 0 �O M to V1 N w O O O 0 O 10 O M 10 CO o v 69 v 69 M 69 m 69 o fA 69 f9 00 69 69 to W� o 69 v t+169 �D fA 6" m 69 r 65 C; 69 N69 69 'O N3 m66 O O O 69 O O O 69 O O O 69 O O O 69 O O Cl 69 O O O 69 O O O 69 O O 0 69 O O C 69 O O O 69 O O O 69 O O O O O O O 69 O O O 69 O O O 69 O O O 69 O O O IO M m O N M W W) OR It M O O O 69 N O� o0 M O\ V' M M Oo M N w O O O 69 O O Cl � O O M O O O 69 y V Qq 69 cc M 6fi 69 Nos 69 01) Cl O 69 0w0 N 699 N 69 69 Q X U W 0. O 0to co co ti 0 W o o olu C7 yr. ai wy Q y w i v Cy7 v _ `Sl fC ¢ y rF C a wa y fA x a rn to U n O ?m 'd x 7J 7 V w N c Cj m -- G c6i tg C F� W 0n C a�i U w U c7 _ a U U U O S O L C O C L L 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 0 0 0 0 0 0 0 0 0 o O o O O o 0 0 0 0 0 0 0 o O o 0 o O O o o O o C O O O O C O O O O o O O o C O o O cn 10 O �O �o vi O O tl- O, O In m �C C C O 0 O O O O O O O O O O O O O O O O O O ^ N O N N O o w tl- M 69 It N �o O O O •o O h C n O C n C o O C h C n C C o C N O h o0 C cl� Gr C� of C lD OO C C m M 7 h M C, O M vi t- O N N O 00 M 7 O O 00 C` O , n :t O 'D t-. N C, t` M N Vi 69 69 69 6R o0 69 N Vi C' Vi (A 69 O w d' 69 'T M_ Vp .. w O V 69 Ln 69 Vi 69 Vi 6A 69 69 69 69 69 �o6�A 6n 69 a\ 69 V3 69 � cl 69 r Vi wq N 69 Co N O O -It Cl N N ^ O O V O O C� O O 00 C, O O O O O O N O N t- O O h o Oo t- O O O C\ O o 't O O �D h n N tl O tl 1. O OP t- lD t,� o C� O h M d O O O h N M O N O ^ C O N O O O 00 N O C, O a\ T O m 't N_ O O M M O t` m N O O O (M 00 O O �D t` t` C'IT CDCD, It D, O M �D t` t` O W) M V O vi n M rl C\ ' O< N cl� IR n �D h C lq� (::tr7 C V C;, O �D C N � �D O Cn v) 00 00 13� C M R M M w a, M w 69 'D _ N N 00 ul N -,t b w to m N M ^_ t 10 W) � b N 10 69 69 Vi 69 69 l� ~ 69 M 69 69 69 69 w h O Vi O N O O M 69 69 65 69 'L 69 V3 ^ 69 69 Vi 69 V'1 to h m 69 69 69 ..•� 69 N 69 69 69 69 69 69 6H O O O O O O O O O O O O o O O O Cl 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 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 M �D O 10 10 v1 C O t- C\ O V'1 M �D CD O ♦+ O O O O O O O O O O O O O O C�O O CD•-•� N O N N O O w t- M 69 It �D O O O 41 C h C h C C nC o C C n C n C C C o N O ^ Vl o0 C N Cy cl� of C � o0 C C 0% m V to M O, O M W) t` O N N O 00 h t^ O O o0 O O W)v O 'D t` N Q` t` M 'AVi 'A be N Vi 00 69 N Vi -,t69 6nV) ,-. C\ 00 7 69 t MW)00 O 7 69 v1 69 69 Vi 69 69 6n Vi V3 69 69 �C W) W)_ M 69 69 Vi N N 69 m Vi Vi 69 69 Vi 69 V3 O O 10 O o0 0o m O O �D O O ^ O O N O O O O O m N oo O+ R O N o 00 M O O V O N C` O O O O o v? O O M 7 �n o0 M O M N ID O C m tn t` �c O 00 O w O O O N O O w 6 69 ) �o �D m N 69 t- C� C\ O &n ,� 69 69 M N N N t- 69 t- M 00 C\ t- 't N 00 h 7 69 N Vi C O M M cl � N r- M zO [� Vi N 69 3 69 �o O M V3 N IT O h Vn 00 C� M 69 69 69 69 69 69 69 69 .Ni 7 6n It69 69 M M �D 69 69 69 69 69 69 69 Q � o O w t- 'D r O O M M 10 O �D t- C, 00 ^ M D\ 00 O 7 t- O 00 00 00 C\ 00 00 M \D I: G W, O 'o N O ^ 00 'D O t- O M M N R Q, O W) t` 0^ 0 O O M m kn t- W)N to OD M Ln O O O O Q` r M V3 DO 00 7 'D CDN l- N o0 V N M zr N M c'M �c N r- h n Vi 69 C D\ `D N 69 ^ C IA 69 64 69 69 p� 69 69 69 69 N O+ N N 69 NtK 00 69 W) Vi 69 t6 69 69 6A Vi zl� 69 69 69 N 69 66 69 M •` 69 69 69 Vi l0 O o O �D O �D �D �D cll �D O M O M ID M O W) O O �O t` M O t` O O O o0 O M oO N C M C ♦„ h l� O V'1 �D 00 �D O O O M O O t- 00 �D t- Vn h O et V3 v1 �D r- 00 h N M N N [� �D N �T h O N O� l� M H V'� ID 69 t< oD N l� N �O ar ^ 'r1 N Vi 69 69 6A 69 V3 „y V3 N 69 Vi 69 69 l� O� h V1 O fA 6A .�-i N Vi T 69 Vi 69 C Vi Vi ^os Vi V3 69 6R 69 M et 69 69 69 69 64 69 m � O t` O ^ O O O m N oo a` W) �o 'o V O N O m M O h r D\ O C�O C�O �/? C�V'� M O M N nC� ID N O C� C O O W) h �D C\ 00 O M O O O O O _ t- N �D O �D ,t w)O N �D O ^ O N O Q\ 00 69 69 Cl�D N 69 t` O N O IA--� 69 GI)m N �o t- Vi t- m 0o C, t- It N oo vn 7 Vi W) �c M N 69 C Oo O M V •--� C1 O lD �D V; l� M N t- 69 N 69 69 Vi 10 14D M 69 ^ N 7 O W)v'i oO Q\ m t ^_ V Oi O 69 69 69 V3 69 69 V3 69 N 7 69 ,t Vi 69 M N �D V Vi 69 69 69 Vf 69 69 Q � DO rTi 4. p a s o o A R a L1 ❑ y p ar �y A a o G C .� c x s - a U A =° 'G o o° X .0 A E-+ cd `� LG� G' W OD ¢ c% O k, o PG 0. '7 �ry �❑ a> O 3 .° •o ° •c " o 'G. aUi P. a�i ai ¢ •= a�i $ s y v y❑ °D 0 o m K p o U w w h p i3 a F- U a w 3 x �� a� pa oo O a :j O m U k w x O' A w {`A T _ O O O O O O O O O O O O O o O 0 O 0 O 0 O 0 O 0 O 0 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 O O O O O O d m a O In " O O O O CD O O O O O O O O O� In 00 O n O O O C O O O O O O O O r et = O O O O O ;- w"+ M 't r N W)O 'O O O h C O O O O O O O O It 'D r O O O O O O O O O O O O O O O W) r h M_ O O Or � M cl V1 10 O O O O (n 119 N N9 O N3 O_ 69 N 69 69 m 69 69 M 69 r 69 M 69 en M 7 D\ ^� 00 69 N 69 �o 69 69 O� 69 r 69 .; 69 CD N 69 69 N 69 oo 69 O+ 69 h vs 69 %n 69 r N M 69 --� N M 69 ,-. G9 00 69 M N 69 Oi V9 O N O V9 N 10 O O O M O oo �D r O O M N O\ r� �n V N O\ O O O O M M VY cn r M N O O O O N O O+ O\ r R �. i 00 O N 69 �D O1 69 T 69 N 1D N .-.. _ 69 O O nN 69 M N �O M 69 V7 N 69 r V'1 N M 59 er �O 69 O O O M 69 O O O m M yq w kn N M M r _ 69 -It rn �D r 69 r Itoo 0 69 ;; Cl v� 69 '� r N �_ 69 'P V'1 O 69 O O nof t-- 69 O O O 69 O� 69 O O Vi � �D r N 69 O N 69 O O lD 00 69 't r r 4 69 N r C, 69 w It lq t 69 In O, - r N M 69 r M 7 N O h 69 N M C m O_ 69 M M M w 69 r M N N 69 r oo M M_ 69 V N O O h ^" 65 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 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 a O vl NN O O O N 69 O O O O_ 6A O CD O O_ 69 O O O N_ 69 CD O 69 a, h M 69 O CD 69 O O W) M 69 CD O �n r- 69 O O O M 69 O O O m M O r 7 -Ita0 O' 6A O .-. 69 O O N 69 �n b 69 r M 69 '� �D 01 -+ 69 O O r 1.9 O O 69 O O O N 6R O O 69 N 69 O CD a0 �. 69 O � 69 O O 69 O CD 69 O Vi 69 In r N M 69 r h -4 N M M_ �D - �D O O� W 69 10 M Cr M N EA vi �D O 01 69 O O O O V � 't Q, O O r O� O\ �t N O O r r. �nmO In O O O O r �O O "D to IJD N M I-D -ItO r O O O O1 r O O O O �O � O O O\ N 7 M N 0o O O M [� r r 00 N = C? O T r U 6q ClM 69 In r 69 -It C, N 69 r M r 69 O IAM �n N 69 00 -e N 69 w N 7 N 69 O W) O (A69 O 69 CD A r O N M r r: N W" 69 � cn 69 w O\ O, 69 O N 00 69 O 69 O 69 O M h ffi O 69 O 69 ON r h't N 69 O O 69 In N N A r N 69 .; h h 69. O 69 Q\ r � 69 O 00 � r 69 N r In 69 d• �O 69 r 7 r N l 69 vi 69 Q 69 7 D N_ t � O o0 O M O� O1 � r O 0o N O O M M �D 01 N V1 V1 M 00 h O M M U 69 W) be 69 69 6H 69 � R ~ V A O �D O M O O 00 O 10 O O M 't O I-O O O (n O� N M O N N N N C, w N y 69 OO O M 6r9 C D N O D 6H 69 69 69 69 r M M O O r �O �D h O 00 00 h N O M M O O M ID N n M 00 'lc� M ^! r v O 7 C M D M O N O vp vi 'o N O O, (71 00 00 r D r N 69 00 69 M 0o 69 M N O D , W) M W1 69 M --� �D N D N N N D N sf . �n O 00 69 69 69 69 69 69 bv9 [� N 69 69 V 69 69 69 N 69 NfIA 69 6� c9 6 �D lO V1 M h O M m O O �D O 10 Vl r 00 'D Vl M 'AD 'D N Oo r O M �D M cn O O ID O lD N M O �D O, N 00 O an �D M O O O M �D g N 7 00 en Vl r N - r N 00 n 69 00 v) ID D 00 69 M N O �n r 00 69 7 �D N O o0 O r It r (71 O^ 00 M h o0 69 69 uq 69 69 69 N O� 69 h� 6Q5 6n 69 69 69 NV3 69 69 69 9 G 7 O, O C N -. F� �--. 't N (= O r r -i N W)w h O O O O O M M O "D �n;- lD N M "D 7 r O O O O C, r O O O O O O O O � N -It M N OO O O r o0 r r 00 N 00 O n t6 Q N 69 O 69 r N 69 r4 N 69 r M r 69 O 69 �n M N 69 00 N N 69 w N 7 N 69 O O 69 O 69 O 6R 7 N W O NV M r 69 N V'1 Q, m M 69 00 � O+ 69 O N 00 69 O 69 O 69 O M �n 69 O f!i O 69 N O 7 N 69 O O 69 h N N 69 r N Vi h V1 69 C 69 00 V3 O 00 r 69 N r M 69 �D 69 r r N b V'1 6/3 A 0. A a c a R W rJ A a a m i0 3 04 A a m c m' G U > � O O o A m •C a�D U O a O o w O E c:d O W a G R a a, O X m u d y U ti ul V ti y a6+ Y R a"i V) y L ti - GO W C A .NU. a. 'C t+ a cz co N U rnox coo a o a s u w > a bA U 7 7 U A U � C C Cl O O O O C O O O O O 0 0 0 0 0 0 0 0 0 o O o 0 m o o vi o 0 o v, v o v vi o 0 rn 'p o O o r � In 69 In 69 o O v N v h o 0o c M �n V) ds v3 m 69 6A M � b9 �D 00 O N O C h C o o C O N N d V O O N 'n r oo Q, N O O W N o0 VA M 00 r 00 r C _ uo H°3 M r 00 [� N �O IO 20 65 69 bn O 7 [!3 In b 00 00 l�0 69 (A i 69 60) V o O O O O C O O Cl O O O O O O O O O C O O O O O O O O O O O N O O O O rn V 7 -It O O V' Nr to tn O O 6A O r 6A b9 O N V1 00 M to O, OC 'p 6A 69 N 69 'O 00 m 69 H10 O M O O 7 O r O r oc N O V O O O O O O m C m 1t In v) _ 69 V3 69 69 N � vN'1 69 N 00 o Or m_ 69 •-+ M N 00 00 a69 b%3 69 6Go9 VM9 VM9 c, M V O M V O 7 N M M C� G1 Om0 N C V C bA bs 69 V boq 69 �C Fig r (A oo M M 2 69 m Q. T kn 00 In 00 `-' 69 6Fien en v O O O O r r M oo O 7 V m m N O N O O, O� .. Qj 00 69 v 69 65 sr s M M W) M o V IO in In kn 'a ~ 69 69 In V3 69 m 69 6i i O M o C 7 C -- of C (71 N i7 C 7 O O N O O h O n b b 0 o C C n o Ic C Io r r 69 7 6/j 6A 65 N N In 7 M vq M 7 D? OD en 00 V 64 6f3 H4 m Q m on c U yidcw° % t w t Q�j y W 6 G o b R Bs o ° o ro d e c, m R1 J = U > • F d @ O t,U_, � � a a r0 T O N O N E .: Cl) AE, O o low O 4) O E cB C O a O U- L 4- y.► cu �� C 0 O 0 C 0 O 0 C 0 O 0 O 0 O 0 O 0 C 0 C 0 O 0 C 0 O 0 O 0 C 0 C 0 O o C c O o d CI 'p m O C O O h O O C C O O O O O W) M 69 O O O Vi M 69 O C O vi ff3 O C O vi 69 O 69 O ClO O .-� F� 69 Cl O I- 69 O O O Ic (9 O O O 10 69 O O O r Ic M O O 'n N V ID C CDO C O M 69 O --� 69 C O O 69 O O 10 00 r- 10 ri C, Or V EA C Cla0 O Vi 69 d' n 7 69 O _• N O O O O to O N C� l- 0� 4) V O O O CD ClO O CDO O O Cl �o C It �o O It O O O O O O �O 00 Q0 CD O a0 V 00 C 69 Cl C,h �n M O 00^-' t� ` � In O V1 O M 69 M .• 69 69 fag 69 I� 69 69 69 69 �D M M 69 N 69 10 69 ID Io 10 69 .- 69 7 b9 a 69 O O O O O C O O O O C O C O O O O O O O O O O O C O O O O O O O C C O O Cl O C C O> 'a m69 O O O O h 69 O O O C N 69 Cl C C V1 M Cl O O In M V9 O O O v'i 69 CD C O in 69 C 69 C O O ,-• I� 69 O Cl O .-• l� 69 O O O Io 69 Cl C O 10 69 O O O 1- �O ry^ � O C:,O h N V 69 C = O M O O - 69 O O O Ic 69 O C l- 10 69 M h uq O 69 � It 69 C O O O C, O O--� O M M O O Cl O C O O O C--i O M C N V M enC)[, Q, O V C 00 O M . O 69 C 69 C 69 O V9 rn a, v1 VN9 m C, n 61) O C, n 69 O 69 C O,. n 69 O 69 O 69 M 00 .• 69 D` 7 h N 69 69 7 "Y O C` V1 69 ^• 69 c 10 N In O O O O �o �D C O O O O M 7 10 I O V O O N W? oo V N C` [l- 00 N C1 A!69 Cl O Oro C o�C. 69 O 69 O -- 69 Io IO 6N9 C C, 69 O 69 O Io 69 O O C O M M O ..i O VN' 69 00 V9 �c O O O Vim' 69 69 I -- O O O O C O O O 'o 'o C O O O O O C �o C,M C,C:,C j m O 6oc9 O 69 O 69 O 69 69 69 69 O In 69 O �n 69 O C h O C— In 69 `D-- fn 69 C O n 6N 9 oo 69 Cl C 'n 69 G` -It N \1 69 -IT69 �_ N 00 M fff O O O O O O CD.� C M M Cl O O O O O O O C O Cl a' M O O o0 M O 69 O 69 O 69 O 69 M O, M C, O o` O 69 C C` O 69 O 64 e+i--� 00 C .---� 69 O 69 d' V V'1 \D 16 VN9 6N9 ^' 69 ^; 69 V9 6 69 69 V Q N a C N 7 N H ci o ca � ° h v °J 5 E F o u It u E° b O U N r F. 3 L F 3 w 3 o w O N O N r/ c o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o O O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 m o vi o o vi o o c vi o 0 0 0 0 0 0 o c o 00 0 0 0 O) r o 0 0 0 0 o O Oo N o O C O C N o O o O O 'h C O o O C O o O r r o V 0 O 0 O ^_ m ^ b9 6A 69 69 6A -It (In 6A 69 6A r O eO fH T b9 69 6A d9 6A 6A 69 6A 7Er9 c 1A M O N ,D p, O O O O 00 O N O O h R N O O 'c O 6A vv ^ 69 r b9 .m. 6A 6A ^' 6A N 69 N 6A 00 6A ^ b9 O r �D 6A O O It N N O� 00 Kl r 6A .. ' WI) 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 c o 0 0 0 0 0 0 0 0 0 0 0 o vi o o vi o 0 o vi o 0 0 0 0 o c o 0 0 00 0 0 0 r y p 0 O 0 O o O v� O v-r O o o 00 N O o C o O N O o O o C W) C o 0 C 0 C 0 r t O 7 O 0 O 0 o b9 N 69 CI p� Vi o0 M O l� N 6A 6A ^ •• 6A H3 r O o0 �O 6A 69 6A b9 6A 69 6A 6A 6A 10 M m 6-9 � v1 �p O O O C 10 C C C O M O V O C O O r 7 M r O O O O oo O O O O O C n C M O C O O M 00 o r Cl O N r O v O O 6A 00 10 m sA 'C b9 C o 69 6A 6A c I's N 69 6A 6A `D rn 6A r ."i I m e 609 b9 1A 6A Q v 'p O N 'D 10 O p' M O O r M M O 7 N O ^- M lD O 00 1p C, M O O ^ V O N r 00 m c O V ^ Vl M m 00 00 O V1 00 ID t' m 69 6A 6A 69 6NA M 6IA M n oc D ID 10 O '.0 Z M M V� r lD O O M O C 1p 1p 1p O IC! Ip M M O C� r kn y p, h 7 'p o0 69 69 b9 6A 6A 6A 6A M 6A d9 V1 M r en Is � 69 6A 6A 69 69 M V� rl v� O O O r O O O O o M C C O O O r 7 M M r CD O O O O oo O O OQD� O O O O O O O O M OC V � V� Ih Cl M 'p O = O O O O C r Cl CD�n C N r O v C 10 O 6A 00 Ip M 6A �• 6A O O 6A ios 6A �D p 6A N 6A 6A 6A 10 p 6F3 r v D M 7 M V1 rll b9 6A 69 N t+1 Vl " ri 69 6A V 6A \0 n n n V b9 69 66 v 6A Q a c L `�° w oa � n C7 F 0D a`"i m 3 v . ro n Wu V c °��' 3 Con G E o m o a o G • � w a c � 5> � opLl a to ° a. m � a. .a c oA ci a 6n a�i c7 c° w m 3 a •Y w N c °? o � � a�i a a3i u u roIt 3 '�' U a = F°. W A r7- a' F, z z O N O N M L 0 0 v, v, 0 0 - IC I 6r9 6r9 00 69 00 69 N N b9 69 T V Q O O O O N Cl Cl 0 Eln IA609 Is bM9 L C O +� 3 `7 Q 7 c.i a � o bos 60R sos M69 6�9 rq (n O N O O O V09 6M9 609 � 609 O o 0 0 0 0 0 o c o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 0 0 O O C 0 69 6%3 69 fA In O 69 M 65 69 Cl 00 69 N 69 69 Cl O Cl o C O O O O C O O O O O O O O O O C O O o O O O O O C O O O 69 69 65 69 69 69 69 69 69 69 6A N O m > b K ro 3 v W > G t 2 u U 0 0 ° zy ° a ° a h> ° W c>i w ° > v u > i c °° c Cc) Ln OQ a. a. o. a a¢ U U U O N O N Ch L 0 0 Cl 0 0 IC O 01 v O o a a c o 0 0 o r= 0 0 0c 00 00 o C� O O O O O M M O C, M M 69 69 69 69 1A .-• 7 10 lO 69 ..• O,. M N 10 Net �c eq e4 Cl N N D a R bo� 69 (A 00 00 VN9 un 69 O O O O O O O O O O C O R T O O O O O O O O O O O O 7 R ID 69 69 69 65 65 65 69 69 6°3 69 69 V/ 65 65 a, ro o c s F v a a° > > U U d > U y U U p � td �J V to C] •� U � U V)V� O 5 A Cc) O fl o. E. e z U a F z C) N O N C7 L C Q E 0 y 46 cn cv V � D 0 E U- C 0 x 0 C cn F— N (6 U) >, C C N d y c o 0 0 � o 00 00 m � � � v3 vj 0 CD O O O O O O O O O O v3 O 00 00 o kn sin 66 0 0 0 o 4-S o 00 o0 o v� uvs 66 0 0 0 0 0 0 0 0 0 0 00 o oc o o0 o 00ke) In m O O O M Cl 69 O� 69 1 69 1 3 r V Q R y � 5 d � c d � E�- O < O c O I 69 f O O O 69 nFLA. Gulf Stream Police Department Activity Report From 10/1/2020 Through 10/31/2020 Activi1y Count ALARMS 16 ASSIST OTHER DEPARTMENT 8 BURGLARY AUTO 1 DEATH INVESTIGATION 1 DIRECTED PATROL 138 DISPATCH ERROR 1 IDENIITY THEFT / FRAUD 1 POLICE SERVICE 12 SUSPICIOUS INCIDENT 5 SUSPICIOUS VEHICLE 2 THEFT (GRAND) MOTOR VEHICLE 2 THEFT (PETIT) I TOWN ORDINANCE VIOLATION 44 TRAFFIC COMPLAINT 8 TRAFFIC CONTACTS 82 tCam` ` Y Gulf Stream Police Department, K �`a' Activity Report From 10/1/2019 Through 10/31/2019 Activity Count ALARMS 5 ANIMAL COMPLAINT 1 ASSIST OTHER DEPARTMENT 11 DIRECTED PATROL 140 POLICE SERVICE 8 SUSPICIOUS INCIDENT 1 SUSPICIOUS PERSON 2 TOWN ORDINANCE VIOLATION 31 TRAFFIC COMPLAINT 6 TRAFFIC CONTACTS 131 N 0 N O z O D J O W Of : p � W Q (o � a 2 LL Z W Q w J W U) C7 � Z U) LL O p z W J p W W 0 O p W W 00 ~m} z W �0U w Q O W CO U) = LL LL z Opw F-O Z Q O Q �ryQ� z0� 0-0 O p U) ry � O a- Q ate. LL w O W J OWz F- W U z z W Llj LLLL pwU' O� w_j W OLL <L Q Z ~ Opzz m= z>cno p F- w O � � > > Q D�z� � a- o� J O Q (n Q p o z W p W G� W o O CL N X O W J p J Q LL W cy) m LL N Ln 0) 00 L U co cY) LO Q L00 p w ry � o p 0 Z N W L W W X pp w 2 U) W z > O O z LL w O 0- >- U) Q Z p U Z_ O w TI- p v w J W > Q m z W J F- ' w UWLU Q CO a0 j CD 2 W J 1 p U) UL Q p U p Li F-w z O U Q (� p W Z W W F— U) U Z Z U)W O O z 0- 0 LL Q w W U) LL J LL O z 0 ry O 0-1 Z O U) 2 O U W Z O U) 2 O U W Z O U) O U Palm Beach County Association of Chiefs of Police Leadership excellence for Palm Beach County law enforcement since 1961 July 5, 2020 Palm Beach County Law Enforcement Agencies, Enclosed is your agencies copy of the Combined Operational Assistance and Voluntary Cooperation Mutual Aid Agreement that requires signature. It is scheduled to be reviewed and must be signed and submitted by January 2021 by each of the subscribed Law Enforcement Agencies. There are no changes in the Agreement. Please refer to the page in the agreement that specifies the signatures that are required. This agreement will replace the existing Agreement and shall take effect upon execution and approval by the listed officials and shall continue through January 31, 2025. The signed agreement should be sent to: North Palm Beach Police Department ATTN: Police Captain Angela Dallesandro 560 US Highway 1 North Palm Beach, FL 33408 Sin y, k Jenkins Past -President at Vjz P.O Box 1316 0 West Palm Beach, Florida • 33407 0 Phone: (772) 485-2289 PALM BEACH COUNTY LAW ENFORCEMENT AGENCIES COMBINED OPERATIONAL ASSISTANCE AND VOLUNTARY COOPERATION MUTUAL AID AGREEMENT WITNESSETH WHEREAS, the subscribing Law Enforcement Agencies as listed in Attachment 1, which is incorporated by reference, are so located in relation to each other that it is to the advantage of each to receive and extend mutual aid in the form of law enforcement services and resources to adequately respond to: (1) Intensive situations, including, but not limited to, emergencies as defined under Section 252.34, Florida Statutes, and (2) Continuing, multi -jurisdictional law enforcement problems, so as to protect the public peace and safety, and preserve the lives and property of the people; and, WHEREAS, the subscribing Law Enforcement Agencies have the authority under Section 23.1225, Florida Statutes, et. seq., The Florida Mutual Aid Act, to enter into a combined mutual aid agreement for law enforcement service which: (1) Permits voluntary cooperation and assistance of a routine law enforcement nature across jurisdictional lines, and; (2) Provides for rendering of assistance in a law enforcement emergency as defined in Section 252.34. NOW, THEREFORE, THE AGENCIES AGREE AS FOLLOWS: SECTION 1: PROVISIONS FOR OPERATIONAL ASSISTANCE The subscribed Law Enforcement Agencies hereby approve and enter into this Agreement whereby each of the agencies so represented may request and render law enforcement assistance to the other to include, but not necessarily be limited to, dealing with civil disturbances, large protest demonstrations, aircraft disasters, fires, natural or man-made disasters, sporting events, concerts, public school graduations, parades, escapes from detention facilities, and incidents requiring utilization of specialized unit s. SECTION II: PROVISIONS FOR VOLUNTARY COOPERATION Each of the subscribed Law Enforcement Agencies hereby approve and enter into this Agreement whereby each of the agencies may request and/or voluntarily render routine law enforcement assistance to the other, to include, but not necessarily be limited to, investigating homicides, sex offenses, robberies, assaults, burglaries, larcenies, gambling, motor vehicle thefts, controlled substance violations, pursuant to Chapter 893, Florida Statutes, DUI violations, backup services during patrol activities, School Police Officers enforcing laws within 1000 feet of a school or School Board property, inter -agency task forces and/orjoint investigations, and coverage for overtime details. SECTION III: PROCEDURE FOR REQUESTING ASSISTANCE In the event that an agency that is a party to this Agreement is in need of assistance as set forth above, such agency shall notify the agency or agencies from whom such assistance is required. The Agency Head or his/her authorized designee whose assistance is sought shall evaluate the situation and his/her available resources and will respond in a manner he/she deems appropriate. The Agency Head in whose jurisdiction assistance is being rendered may determine who is authorized to lend assistance in his/her jurisdiction, for how long such assistance is authorized and for what purpose such authority is granted. This authority may be granted either verbally or in writing as the particular situation dictates. School District Police Officers are hereby authorized to enforce laws in an area within 1000 feet of a school or school board property and within 1000 feet of any school sponsored event including, but not necessarily limited to, public school graduations, proms, dances and project graduations. Should a sworn law enforcement officer(s) be in another subscribed agency's jurisdiction and violation of Florida Statutes occurs, which is a crime of violence, in the presence of said officer, he/she shall be empowered to exercise authority as a law enforcement officer as if the officer was in his/her own jurisdiction. Should enforcement action be taken, said officer shall notify the agency having normal jurisdiction and upon the latter's arrival, turn the situation over to them and offer any assistance requested including, but not limited to, a follow-up written report documenting the event and the actions taken. This provision so prescribed in this paragraph is not intended to grant general authority to conduct investigations, serve warrants and/or subpoenas or to respond without request to emergencies already being addressed by the agency of normal jurisdiction, but is intended to address critical, life -threatening or public safety situations, prevent bodily injury to citizens, and/or secure apprehension of violent criminals whom the law enforcement officer may encounter. In any jurisdiction where the Sheriff of Palm Beach County has primary law enforcement responsibilities, the following shall apply: When a sworn law enforcement officer of a subscribing law enforcement agency has established probable cause to arrest an 2 individual(s) as a result of an investigation regarding any Forcible Felony, as defined in Section 776.08, Florida Statutes, or any act of Domestic Violence as defined in Section 741.28, Florida Statutes, that occurred within the jurisdiction of the arresting officer, he/she is authorized to make this arrest in any jurisdiction where the Sheriff has primary law enforcement responsibilities upon exigent circumstances and provided said offense occurred within the previous seventy-two (72) hours. Prior to any officer making any such arrest pursuant to this paragraph, the officer shall notify the Palm Beach County Sheriffs Office Commanding Officer in charge of the district in which the action will be taken. This paragraph does not include the authority to make non-consensual or forcible entries into private dwellings, residences, living spaces or business spaces which are not open to the public, i.e., authority derived pursuant to this paragraph may be exercised only when in places open to the public or private places into which the arresting officer has entered with the consent of an occupant entitled to give consent. In all other jurisdictions within the Palm Beach County, the following shall apply: Sworn law enforcement officers of subscribing law enforcement agencies are hereby authorized to exercise the power to make arrests in any subscribing agency's jurisdiction of persons identified as a result of investigations regarding any offense constituting a felony or any act of Domestic Violence as defined in Section 741.28, Florida Statutes, that occurred within the jurisdiction of the arresting officer. However, this paragraph does not include authority to make non-consensual or forcible entries into private dwellings, residences, living spaces or business spaces which are not open to the public, i.e., authority derived pursuant to this paragraph may be exercised only when in places open to the public or private places into which the arresting officer has entered with the consent of an occupant entitled to give consent. Prior to any officer taking enforcement action pursuant to this paragraph, the officer shall notify the Commanding Officer in charge of the jurisdiction in which the action will be taken, unless exigent circumstances prevent such prior notification, in which case notification shall be made as soon after the action as practicable. The Agency Head's decision in these matters shall be final. SECTION IV: COMMAND AND SUPERVISORY RESPONSIBILITY The personnel and equipment that are assigned by the assisting agency head shall be under the immediate command of a supervising officer designated by the assisting agency head. Such supervising officer shall be under the direct supervision and command of the agency head or his/her designee of the agency requesting assistance. CONFLICTS: Whenever a Law Enforcement Officer is rendering assistance pursuant to this Agreement, the Law Enforcement Officer shall abide by and be subject to the rules and regulations, personnel policies, general orders and standard operating procedures of his/her own employer. If any such rule, regulation, personnel policy, general order or standard operating procedure is contradicted, contravened or otherwise, in conflict with a direct order of a superior officer of the requesting agency, then such rule, regulation, policy, general order or procedure shall control and shall supersede the direct order. HANDLING COMPLAINTS: Whenever there is cause to believe that a complaint has arisen as a result of a cooperative effort as it may pertain to this Agreement, the Agency Head or his/her designee of the requesting agency shall be responsible for the documentation of said complaint to ascertain at a minimum: 1. The identity of the complainant. 2. An address where the complaining agency can be contacted. 3. The specific allegation. 4. The identity of the employees accused without regard to agency affiliation. If it is determined that the accused is an employee of the assisting agency, the above information with all pertinent documentation gathered during the receipt and processing of the complaint shall be forwarded without delay to the Agency Head or his/her designee of the assisting agency for administrative review. The requesting agency may conduct a review of the complaint to determine if any factual basis for the complaint exists and/or whether any of the employees of the requesting agency violated any of their agency's policies or procedures. SECTION V: LIABILITY Each agency engaging in any mutual cooperation and assistance, pursuant to this Agreement, agrees to assume responsibility for the acts, omissions, or conduct of such agency's employees while engaged in rendering such aid pursuant to this Agreement, subject to the provisions of Section 768.28, Florida Statutes, where applicable. SECTION VI: POWERS, PRIVILEGES, IMMUNITIES AND COSTS A. Employees of each participating Law Enforcement Agency, when actually engaging in mutual cooperation and assistance outside of their jurisdictional limits, but inside the State of Florida, under the terms of this Agreement, shall, pursuant to the provisions of Section 23.127(1), Florida Statutes, have the same powers, duties, rights, privileges and immunities as if the employee was performing duties inside the employee's political subdivision in which normally employed. B. Each agency agrees to furnish necessary personnel, equipment, resources and facilities and to render services to each other agency to the Agreement as set forth above; provided however, that no agency shall be required to deplete 4 unreasonably its own personnel, equipment, resources, facilities, and services in furnishing such mutual aid. C. Communication with personnel from outside agencies will be accomplished with a shared radio frequency. Should the agency furnishing aid not have the capability to communicate on a shared radio frequency, then the requesting agency will either provide radios to the personnel of the agency furnishing aid or pair personnel from the agency furnishing aid with personnel from agencies that have the capability to communicate on a shared radio frequency. D. A political subdivision that furnishes equipment pursuant to this part must bear the cost of loss or damage to that equipment and must pay any expense incurred in the operation and maintenance of that equipment. E. The agency furnishing aid pursuant to this section shall compensate its employees during the time such aid is rendered and shall defray the actual travel and maintenance expenses of its employees while they are rendering such aid, including any amounts paid or due for compensation due to personal injury or death while such employees are engaged in rendering such assistance. F. The privileges and immunities from liability, exemption from laws, ordinances and rules, and all pension, insurance, relief, disability, workers' compensation, salary, death and other benefits that apply to the activity of an employee of an agency when performing the employee's duties within the territorial limits of the employee's agency apply to the employee to the same degree, manner, and extent while engaged in the performance of the employee's duties extraterritorially under the provisions of this Mutual Aid Agreement. The provisions of this section shall apply with equal effect to paid, volunteer, auxiliary, and reserve employees. G. Nothing herein shall prevent the requesting agency from requesting supplemental appropriations from the governing authority having budgeting jurisdiction to reimburse the assisting agency for any actual costs or expenses incurred by the assisting agency performing hereunder. H. Nothing in this Agreement is intended or is to be construed as any transfer or contracting away of the powers or functions of one party hereto to the other. SECTION VII: EFFECTIVE DATE. This Agreement shall take effect upon execution and approval by the hereinafter named officials and shall continue in full force and effect until January 31, 2025. On or about September 30, 2024, a committee will be established by the Palm Beach County Association of Chiefs of Police, Inc., to review this Agreement and revise, if necessary. Under no circumstances may this Agreement be renewed, amended, or extended except in writing. SECTION VIII: CANCELLATION Any agency may cancel their participation in this Agreement upon delivery of written notice to the other agencies. Cancellation will be at the direction of any subscribing agency. IN WITNESS WHEREOF, the agencies hereto cause these presents to be signed on the date specified. C1 ATTEST: CITY OF ATLANTIS: Michael LaCoursiere, Mayor (date) Robert G. Mangold, Chief of Police (date) Brian Moree, City Manager (date) (date) CITY OF BOCA RATON: Scott Singer Mayor (date) Michele Miuccio, Chief of Police (date) Leif Ahnell, City Manager (date) (date) CITY OF BOYNTON BEACH: Steven B. Grant, Mayor (date) Michael G Gregory, Chief of Police (date) Lori LaVerriere, City Manager (date) (date) CITY OF DELRAY BEACH: Shelly Petrolia, Mayor (date) Javaro Sims, Chief of Police (date) George Gretsas, City Manager (date) (date) FLORIDA ATLANTIC UNIVERSITY: John Kelly, President (date) Sean Brammer, Chief of Police (date) (date) (date) 7 TOWN OF GULFSTREAM: Scott Morgan, Mayor (date) Edward Allen, Chief of Police (date) Gregory Dunham, Town Manager (date) (date) TOWN OF HIGHLAND BEACH: Douglas Hillman, Mayor (date) Craig Hartmann, Chief of Police (date) Marshall Labadie, Town Manager (date) (date) TOWN OF HYPOLUXO: Michael Brown, Mayor (date) Sean M. Scheller, Chief of Police (date) Dixie Gualtieri, Deputy Clerk (date) TOWN OF JUNO BEACH: Jason Haselkorn, Mayor (date) Brian J. Smith, Chief of Police Joseph F. Lo Bello, Town Manager (date) TOWN OF JUPITER: Todd R. Woodraska, Mayor (date) Daniel J. Kerr, Chief of Police Matt Benoit, Town Manager (date) (date) (date) (date) (date) (date) 8 TOWN OF JUPITER INLET COLONY: Dr. Daniel J. Comerford III, Mayor (date) John Pruitt, Chief of Police (date) Kevin Lucas, Town Administrator (date) TOWN OF LAKE CLARKE SHORES: (date) Valentin Rodriguez Jr., Mayor (date) William W. Smith, III, Chief of Police (date) Daniel Clark, Town Administrator (date) TOWN OF LANTANA: (date) David J. Stewart, Mayor (date) Sean M. Scheller, Chief of Police (date) Deborah Manzo, Town Manager (date) (date) TOWN OF MANALAPAN: Keith Waters, Mayor (date) Carmen Mattox, Chief of Police (date) Linda A. Stumpf, Town Manager (date) (date) VILLAGE OF NORTH PALM BEACH: Susan Bickel, Mayor (date) Richard E. Jenkins, Chief of Police (date) Andrew Lukasik, Village Manager (date) (date) I TOWN OF OCEAN RIDGE: Kristine de Haseth, Mayor (date) Hal Hutchins, Chief of Police (date) Tracey Stevens, Town Manager (date) (date) TOWN OF PALM BEACH: Gail L. Coniglio, Mayor (date) Nicholas Caristo, Chief of Police (date) Kirk Blouin, Town Manager (date) PALM BEACH COUNTY SHERIFF'S OFFICE: (date) Ric L. Bradshaw, Sheriff (date) (date) (date) THE SCHOOL BOARD OF PALM BEACH COUNTY, FLORIDA: Frank A Barbieri Jr., Chairman (date) Frank J Kitzerow Jr., Chief of School Police (date) Donald Fennoy, Superintendent (date) (date) CITY OF PALM BEACH GARDENS: Mark Marciano, Mayor (date) Clinton Shannon , Chief of Police Ronal Ferris, City Manager (date) (date) (date) TOWN OF PALM BEACH SHORES: Alan Fier, Mayor (date) Steven Langevin Administrative Sergeant Ghffief ef Psl+6e (date) Evyonne Browning, Town Clerk (date) (date) VILLAGE OF PALM SPRINGS: Beverly Smith, Mayor (date) Thomas Ceccarelli, Chief of Police (date) Richard Reade, Village Manager (date) (date) CITY OF RIVIERA BEACH: Ronnie Felder, Mayor (date) Spencer Rozier, Chief of Police (date) Johathan Evans, City Manager (date) (date) TOWN OF SOUTH PALM BEACH: Bernice Fischer, Mayor (date) Mark Garrison, Chief of Police (date) Robert Kellogg, Town Manager (date) (date) STATE ATTORNEY FOR THE FIFTEENTH JUDICIAL CIRCUIT IN AN FOR PALM BEACH COUNTY: (date) Greg Kridos, State Attorney (date) Fifteenth Judicial Circuit.ln and For Palm Beach County, Florida (date) 11 (date) VILLAGE OF TEQUESTA: Abby Brennan, Mayor (date) Jeremy Allen, Village Manager (date) CITY OF WEST PALM BEACH: Keith James, Mayor (date) Faye Johnson, City Administrator (date) Gustavo Medina, Chief of Police (date) (date) Thomas Ceccarelli, Chief of Police (date) (date) 12 Attachment / Atlantis Police Department Boca Raton Police Department Boynton Beach Police Department Delray Beach Police Department Florida Atlantic University Gulfstream Police Department Highland Beach Police Dept. Hypoluxo-Town of Juno Beach Police Department Jupiter Police Department Jupiter Inlet Colony Police Department Lake Clarke Shores Police Department Lantana Police Department Manalapan Police Department North Palm Beach Police Department Ocean Ridge Police Department Palm Beach Police Department Palm Beach County Sheriff's Office Palm Beach County School District Police Department Palm Beach Gardens Police Department Palm Beach Shores Police Department Palm Springs Police Department Riviera Beach Police Department South Palm Beach Police Department State Attorney, Fifteenth Judicial Circuit for Palm Beach County Tequesta Police Department West Palm Beach Police Department 13 INTER -OFFICE MEMORANDUM TOWN OF GULF STREAM, FLORIDA OFFICE OF THE TOWN MANAGER GREGORY L. DUNHAM DATE: 11 /6/2020 TO: Mayor Morgan and Town Commissioners RE: Recommendation for bid award for Double Detector Check Valve On October 12, 2020, the Town issued an Invitation to Bid to replace an aging and leaking weighted check valve from inside a concrete underground vault at the northwestern corner of Place Au Soleil with a required Double Detector Check Valve assembly. The Invitation to Bid was publicly advertised on the Town's website and on DemandStar, an online procurement website, with three sealed bids received by the Town in response. These bids were publicly opened on November 6, 2020. The bids are as follows: • Southern Pipeline, Inc. $38,750.00 • Buckeye Plumbing LLC $41,832.00 • Florida Flow Control, Inc. $51,765.38 Under the invitation to bid process, the contract is awarded to the lowest responsive, responsible bidder. Based on the foregoing, I recommend the Town award the bid for the Double Detector Check Valve assembly to Southern Pipeline, Inc., located in Lake Worth. RECOMMENDATION: Motion to award the Invitation to Bid for the Double Detector Check Valve assembly to Southern Pipeline, Inc for $38,750.