HomeMy WebLinkAboutDocumentation_Workshop_Tab 03_9/29/2025Agenda Item #3.
Workshop
STAFF MEMO
Meeting:Workshop - Sep 29 2025
Staff Contact:Jeremy Allen, Village Manager Department:Manager
TITLE
Discuss 1 Main Street/Paradise Park
SUMMARY:
This item was requested by the Village Council at the September 11, 2025, meeting for further
discussion and consideration.
The Village of Tequesta is exploring the opportunity to acquire 1 Main Street/Paradise Park, a key
property within the Tequesta Village Center, consisting of three vacant parcels:
Parcel No. 60-43-40-30-47-002-0000
Parcel No. 60-43-40-30-47-001-0000
Parcel No. 60-43-40-30-47-003-0000
These properties have remained vacant since the early 2000s. The Village previously held an
approved lease agreement dating back to 2009, utilizing the space as public parkland. In 2021, the
properties were listed for sale, ending the Village's rights to the site. Theproperties were
subsequently sold in 2023 to the current owner, FP Tequesta Property Owner, LLC.
Appraisal History
In June 2021, the Village of Tequesta obtained an appraisal valuing the properties at
$5,285,000 (see attached VOT Appraisal 2021), while the then-owner sought $6,000,000.
The Village recently requested an appraisal that was received in August (see attached 2025
Appraisal.pdf, prepared by Parrish & Edwards, Inc., effective August 19, 2025) estimates the
individual "As Is" values as follows:
o Lot 1 (51,780 sq ft, vacant sod, southwest quadrant): $3,310,000
o Lot 2 (43,050 sq ft, vacant paved, northwest quadrant): $2,320,000
o Lot 3 (44,287 sq ft, vacant sod, southeast quadrant): $2,830,000
The combined (bulk) value in the 2025 appraisal is $8,460,000. All lots are zoned MU (Mixed
Use) with ahighestand best use as mixed use. Theappraisal notes extraordinary
assumptions, including no environmental contamination, reliance on property appraiser site
sizes (no surveys provided), and easements restricting development (e.g., parking easements
on Lots 1 and 2, access easement on Lot 3). Flood zone is "X" (minimal risk), and
market/exposure time is estimated at 6 to 12 months.
The current owner is willing to sell the properties to the Village for $8,460,000; however, the owner
has stated that it is negotiable.
Proposed Financing
To fund the acquisition, the Village Council is proposing a General Obligation Bond not to exceed
$8,460,000 or the agreed-upon value of purchase plus cost, subject to voter approval via a
referendum on the March 2026 ballot. The bond validation process will adhere to the timeline outlined
Page 37 of 275
Agenda Item #3.
in the attached "General Obligation Bond Validation" document, ensuring full compliance with legal
and procedural requirements.
Interim Lease Agreement
In exchange for holding the property until voters decide via the referendum, the Village would lease
the properties from the owner for 1 year at a cost of $125,000 to cover the owner's taxes and
insurance. Half of the lease proceeds ($62,500) would be applied toward the purchase price if the
acquisition proceeds. Details of the lease agreement are still being finalized between the Village and
the seller (see attached Property Lease).
Parking Covenants and Considerations
Staff has consulted with adjacent property owners at 250 Tequesta Drive and 1 Main Street regarding
existing parking agreements (see attached Memo Outline Parking Agreements):
250 Tequesta Drive requires 21 parking spaces on Lot 1 upon development of the parcels.
1 Main Street relies on a shared parking arrangement with the parcels (specifically Lot 2) to
comply with parking codes, requiring a minimum of 40 spaces depending on uses. These
covenants must be maintained by the owner of the three parcels and could impact future
development or park use.
Additional Attachments and Resources
Draft Information Packet
Description and Examples
2015 Layout
Referendum Language (limited to 75 words)
Bond Value Calculator
Parkland Purchase Policy
Aerial images of Paradise Park Parcels
Appraisal
Estimated Tax Impact (Assumptions: $9 Million Bond, 30-Year Term at 5.5% Interest Rate*)
Taxable ValueEstimated Millage RateEstimated Annual Tax
$1,500,0000.2936$440
$1,000,0000.2936$294
$650,0000.2936$191
*Estimates only; actual rates may vary based on market conditions and final bond terms.
This summary provides an overview for Council discussion. No action is required at this meeting
unless directed.
This document and any attachments may be reproduced upon request in an alternative format by
completing our Accessibility Feedback Form, sending an e-mail to the Village Clerk or calling 561-
768-0443.
BUDGET INFORMATION:
BUDGET AMOUNT NA AMOUNT AVAILABLE NA EXPENDITURE AMOUNT: NA
FUNDING SOURCES: NA IS THIS A PIGGYBACK:
Yes N/A
DID YOU OBTAIN 3 QUOTES?
Yes N/A
Page 38 of 275
Agenda Item #3.
COMMENTS/EXPLANATION ON SELECTION NA
ATTACHMENTS:
draft package
Parking Memo
VOT 2025 appraisal
Developer Provided 2025 Appraisal
2021 Appraisal
Validation Timeline-Tequesta 2025 2026
Page 39 of 275
Agenda Item #3.
The Village of Tequesta is considering a transformative shared-use park project, funded by a
bond of up to $9,000,000 to purchase land This
bond will be considered by a referendum. This initiative aims to create a vibrant, accessible, and
sustainable public space that fosters recreation, environmental stewardship, and community
A Welcoming Gathering Space: Imagine a beautifully designed amphitheater or
pavilion at the heart of the park, perfect for concerts, community events, and family
gatherings. This versatile venue will bring residents together for cultural and recreational
experiences.
Expansive Green Spaces: Picture open lawns and serene landscapes where families can
picnic, children can play, and individuals can relax in nature. These green spaces will
promote environmental preservation and provide a peaceful retreat for all.
Thoughtful Amenities: The park will include essential public facilities like convenient
parking, restrooms, and well-maintained pathways to ensure accessibility and comfort for
everyone, from young families to seniors.
Limited Private Uses with Public Oversight
selected private amenities, such as a small caf, restaurant, or recreational rentals, may be
Supportive Infrastructure: Infrastructure, including lighting, seating, and sustainable
landscaping, will create a safe and inviting environment for day-to-night use, supporting
a variety of activities year-round.
A Commitment to Transparency: Every dollar spent will be accounted for with clear,
public expenditure reporting, ensuring trust and accountability as we bring this vision to
life.
This park could
ŷźƭ ķƚĭǒƒĻƓƷ ƒğǤ ĬĻ ƩĻƦƩƚķǒĭĻķ ǒƦƚƓ ƩĻƨǒĻƭƷ źƓ ğƓ ğƌƷĻƩƓğƷźǝĻ ŅƚƩƒğƷ ĬǤ ĭƚƓƷğĭƷźƓŭ ƷŷĻ źƌƌğŭĻ
ΏАЏБΏЉЍЍЉ ƚƩ ĬǤ ĭƚƒƦƌĻƷźƓŭ ƚǒƩ ğĭĭĻƭƭźĬźƌźƷǤ ŅƚƩƒʹ ŷƷƷƦƭʹΉΉĬźƷ͵ƌǤΉЌƒƓŅĻ
Ѝ
Page 40 of 275
Agenda Item #3.
Page 41 of 275
1
Peacock Park/Glass and Vine-Coconut Grove
Agenda Item #3.
Page 42 of 275
2
Downtown Abacoa
Agenda Item #3.
Page 43 of 275
3
The Edison & Adderley Amphitheater (Tallahassee)
Agenda Item #3.
Page 44 of 275
4
Downtown Winter Garden (splash pad adjacent to dining area/green space)
Agenda Item #3.
Page 45 of 275
5
Co Lab Kitchen Stuart
Agenda Item #3.
Page 46 of 275
6
Kiosks in Parks
Agenda Item #3.
Page 47 of 275
Shake Shack’s First Location is a Food Stand in Madison Square
7
Park (NYC)
Agenda Item #3.
Page 48 of 275
8
Peddlers Pavilion-Rosemary Beach
Agenda Item #3.
Page 49 of 275
9
Water Park-National Landing-Arlington, Virginia
Agenda Item #3.
Page 50 of 275
10
Outdoor Beer Gardens/Outdoor Seating
Agenda Item #3.
Page 51 of 275
11
Open Air Dining Concepts
Agenda Item #3.
Page 52 of 275
12
Multi-Use Amphitheater
Agenda Item #3.
Page 53 of 275
13
Farmers Markets
Agenda Item #3.
Page 54 of 275
Agenda Item #3.
źƌƌğŭĻ ƚŅ ĻƨǒĻƭƷğ DĻƓĻƩğƌ hĬƌźŭğƷźƚƓ .ƚƓķ wĻŅĻƩĻƓķǒƒ
Shall the Village of Tequesta issue bonds up to $9,000,000, repaid within 30 years,
with interest not exceeding the legal maximum, funded by ad valorem taxes, to
acquire, develop, and improve shared-use park space, including an amphitheater or
pavilion, open green spaces, public accessory uses like parking and restrooms,
limited private accessory uses under public oversight, and infrastructure, to
promote recreation, environmental preservation, and well-being, with transparent
expenditure reporting?
ŷźƭ ķƚĭǒƒĻƓƷ ƒğǤ ĬĻ ƩĻƦƩƚķǒĭĻķ ǒƦƚƓ ƩĻƨǒĻƭƷ źƓ ğƓ ğƌƷĻƩƓğƷźǝĻ ŅƚƩƒğƷ ĬǤ ĭƚƓƷğĭƷźƓŭ ƷŷĻ źƌƌğŭĻ
ΏАЏБΏЉЍЍЉ ƚƩ ĬǤ ĭƚƒƦƌĻƷźƓŭ ƚǒƩ ğĭĭĻƭƭźĬźƌźƷǤ ŅƚƩƒʹ ŷƷƷƦƭʹΉΉĬźƷ͵ƌǤΉЌƒƓŅĻ
Ѝ
Page 55 of 275
Agenda Item #3.
The Calculator below allows you, as a resident, to insert your value into the space to calculate what the
estimated increase in taxes would be if determined that the Village of Tequesta should own 1 Main
Street/Paradise Park.
Based on 0-year amortization at an estimated 5.5%
Based on 9 Million Dollar Bond
Property Values can be located at https://gis.pbcgov.org/papagis/#
%2-111-111/11
1/3:47%3:4/71
-Prior to 2021, the Village of Tequesta leased these properties to utilize as park space dating
back to 2009.
o In 2021, the properties were up for Sale, and the Village no longer had rights to the
property.
Property Sold in 2023
This document may be reproduced upon request in an alternative format by contacting the Village
Clerk’s Office at 561-768-0440 or by completing our accessibility form: https://bit.ly/3mnfeU4
Page 56 of 275
Agenda Item #3.
TO: Jeremy Allen, Village Manager
FROM: Jay Hubsch, Community Development Director
DATE: 08/26/2025
SUBJECT: Parking Constraints at One Main Street
One Main Street Property – Parking Encumbrances and Considerations
The One Main Street property has a complex development history, including multiple parking
encumbrances benefitting adjacent properties. One key encumbrance involves the Tequesta
Corporate Center at 250 Tequesta Drive (Wells Fargo).Under a recorded parking easement
agreement, the owner of the vacant One Main Street parcels must provide 21 parking spaces
for Tequesta Corporate Center. These spaces are to be located along the westernmost portion
of the site in accordance with the site plan attached to the easement.
In 2023, the owner of the existing building at 1 Main Street (Parcel 4) sold the remaining three
undeveloped parcels to the current owner. The purchase contract included a covenant to
maintain compliance with Village parking regulations. Specifically, it states that the buyer “will
not make any submittals to any applicable governmental authorities that would result in Parcel
4 not being in compliance with applicable zoning codes and laws, including, but not limited to,
compliance with the parking requirements of the Village of Tequesta”.
Parcel 4’s existing building does not have sufficient on-site parking to meet current Village
code. It provides:
25 on-site spaces on Parcel 4;
12 additional spaces through an off-site parking agreement with the building
immediately to the east (former Bank of America site);
The balance of required spaces must be provided on the three undeveloped One Main
Street parcels.
While the exact number of code-required spaces for Parcel 4’s current uses has not yet been
confirmed, a conservative estimate isthat at least 40 additional spaces are needed on the
three undeveloped parcels to serve Parcel 4.
Page 57 of 275
Agenda Item #3.
Future Development and Shared Parking Opportunities
If the three undeveloped parcels are developed in the future (e.g., for residential, office, or
commercial use), there may be opportunities to implement shared parking strategies. For
example, daytime office uses could share spaces with residential uses that have peak demand
overnight, reducing the total number of exclusive spaces required.
Conversely, if the Village were to acquire the parcels for park or recreational use, the ability to
share parking would be more limited, since park facilities are typically utilized throughout the
day. In that scenario, the Village would need to provide or maintain approximately 40 parking
spaces exclusively for the businesses within Parcel 4 to maintain compliance with Village code
and the contractual obligations. These spaces would be in addition to the 21 spaces required
under the recorded easement for Tequesta Corporate Center. In total, the Village could be
responsible for providing at least 61 parking spaces on the three parcels if they are acquired.
Page 2 of 2
Page 58 of 275
Agenda Item #3.
AN APPRAISAL REPORT
OF
THREE VACANT PROPERTIES
LOCATED ON THE EAST AND WEST
SIDES OF MAIN STREET BETWEEN
TEQUESTA DRIVE AND BRIDGE ROAD,
IN THE VILLAGE OF TEQUESTA,
PALM BEACH COUNTY, FLORIDA 33469
PREPARED FOR
THE VILLAGE OF TEQUESTA
C/O MR. JAY HUBSCH
COMMUNITY DEVELOPMENT DIRECTOR
345 TEQUESTA DRIVE
TEQUESTA, FLORIDA 33469
AS OF
AUGUST 19, 2025
PREPARED BY
PARRISH & EDWARDS, INC.
EIN 59-2550770
BRIAN G. EDWARDS, MAI
STATE CERTIFIED GENERAL REAL ESTATE APPRAISER #RZ1303
Page 59 of 275
Agenda Item #3.
PARRISH & EDWARDS, INC.
3450 Northlake Blvd., #285 Î Northlake Corporate Park PH: (561) 622-9992
Palm Beach Gardens, FL 33403
September 3, 2025
Village of Tequesta
c/o Mr. Jay Hubsch
Community Development Director
345 Tequesta Drive
Tequesta, Florida 33469
RE: P&E File No. JS25-071
Dear Mr. Hubsch:
In accordance with your request, we have made an inspection, analysis, and an
appraisal report of the following:
Lot #TypeAddressCity
1Vacant, SodXXX Main StreetTequestaFL 33469
2Vacant, PavedXXX Main StreetTequestaFL 33469
3Vacant, SodXXX Main StreetTequestaFL 33469
As a result of our investigation and analysis of the information outlined in the report,
we hereby submit that our opiniValues of the three Subject
Properties, as of August 19, 2025 are as follows:
Value
Lot #Conclusions
1$3,310,000
2$2,30,000
3$2,830,000
JS25-071 PARRISH & EDWARDS, INC.
Page 60 of 275
Agenda Item #3.
Page 2
As a result of our investigation and analysis of the information outlined in the report,
we hereby submit that our opinion of the overall or combined (bulk) value of the Subject
Properties, as of August 19, 2025 is as follows:
$8,460,000
This report is intended to comply with Federal reporting standard
s and the standards
and reporting requirements of the Uniform Standards of Professional Practice
(USPAP) adopted by the Appraisal Standards Board of the Appraisal Foundation.
The appraiser has the ability to properly identify the problem to be addressed, the
knowledge and experience to complete the assignment competently; and has
recognition of, and compliance with, laws and regulations that apply to the appraiser
or to the assignment.
This appraisal assignment was not made, nor was the appraisal rendered on the basis
of a requested minimum valuation, a specific valuation, or an amount which would
result in approval of a loan.
A description of the property being appraised, together with an explanation of the report
type and valuation procedures utilized, is contained within the body of this report. This
letter is made a part of and subject to the Limiting Conditions as set forth in the report
herein.
Sincerely,
Brian G. Edwards, MAI
State Certified General Real Estate Appraiser #RZ1303
Joseph N. Stair
State Certified General Real Estate Appraiser #RZ2952
JS25-071 PARRISH & EDWARDS, INC.
Page 61 of 275
Agenda Item #3.
EXTRAORDINARY ASSUMPTIONS /
SPECIAL LIMITING CONDITIONS
1.The Subject Properties consist of three parcels. No surveys were available. For
purpose of this report, we have utilized the site sizes for the Subject Properties
dimensions taken from aerial images from Google Earth Pro, the sizes stated in
the Palm Beach County Property Appr
a current survey become available and it be determined that the Subject
Properties differ significantly in size than this information, we reserve the right
to amend our appraisal accordingly.
2.The Subject Properties have not been inspected for environmental
contamination, such as underground storage tanks, drums of unknown
contents, evidence of waste disposal such as sludge, paints chemical residues,
oil spillage, asbestos, etc. No environmental contamination is known to exist by
the appraiser. No environmental surveys for the Subject Sites were provided to
the appraiser. Our value estimates contained herein assume clean sites. If such
contaminants were found to be present, the values stated herein would be
subject to review and modification.
3.At the request of the client, individual values for each of the Subject Properties
will be provided. An overall value for the three sites together was also requested
and will be provided. The Subject Properties currently do not have street
addresses. For the purpose of this report the Subject Properties will be known
as Lot #1, Lot #2, and Lot #3 of the Tequesta Village Center. There are a total
of four parcels located around the Main Street traffic calming circle as part of
the Tequesta Village Center. Lot #4 of the Tequesta Village Center is not part
of our appraisal assignment. A more detailed description of the Subject
Properties will be located in the property description section of this report.
4.Lot 1, located at the southwest quadrant of Main Street and the centrally located
Main Street traffic circle is encumbered by a parking easement that allows the
adjacent property to the west (250 Tequesta Drive) the use of an area to
accommodate 21 parking spaces on Lot 1. Based on a sketch located within the
parking easement document and the size of a typical parking space, we have
estimated that the west 20 feet of Lot 1 would be needed to satisfy the parking
requirement as set forth in the easement. The parking easement would have
approximate dimensions of
(8.7% of the total site area). This parking easement would restrict development
on this site. A copy of the easement is contained in the addenda of this report.
JS25-071 PARRISH & EDWARDS, INC.
Page 62 of 275
Agenda Item #3.
5.Lot 2 is located on the northwest quadrant of Main Street and the centrally
located traffic circle on Main Street. The site is leveled, cleared and has been
asphalt paved with on-site drainage in place. The parcel contains 43,050 square
feet. The site is encumbered by a parking easement which dedicates at least
40 parking spaces to the adjacent property to the east (1 Main Street) depending
on the uses and parking requirements for this parcel. The location of the
easement within the site is not designated. Although this would allow for some
flexibility on where those spaces would be provided, this parking easement
would restrict development on this site and encumber approximately 30% to
40% of the site. A copy of the easement is contained in the addenda of this
report.
6.Lot 3 is located on the southeast quadrant of Main Street and the centrally
located traffic circle on Main Street. The site is leveled, cleared and sod covered.
The parcel contains 44,287 square feet. The site is encumbered by an access
easement which is located along the east boundary of the site. The easement
dedicates a 24-foot wide portion of the site that runs the length of the eastern
boundary or approximately 200 feet. The access easement contains
approximately 4,800 square feet (10.8% of the site). This access easement
would restrict development on this site. A copy of the easement is contained in
the addenda of this report.
JS25-071 PARRISH & EDWARDS, INC.
Page 63 of 275
Agenda Item #3.
7.Over the past four years, there has been continued uncertainty in economic
conditions as a result of the Coronavirus (COVID-19) which led to higher
inflation, and the effects of the pandemic on the real estate market have yet to
be determined. As of the effective date of this appraisal, the number of
confirmed cases has dropped significantly since its high in early 2021. However,
there is still uncertainty with future market conditions because of new variants
in the COVID Virus and because only 70% of the population is fully vaccinated.
If cases begin to rise again, this could slow or reverse the economic recovery
and could impact businesses again which would have a significant negative
effect on the real estate market. While the number of cases has dropped
significantly, the pandemic has had and continues to have a significant effect
on supply chains, which has resulted in a significant increase in inflation. In an
attempt to slow down the effects of inflation, the Federal Reserve began raising
the Federal Funds rate in March 2022, and after 11 separate rate hikes in the
range of 0.25% to 0.75%, the rate rose to a high of approximately 5.5% in July
2023 which was a 23-year high. This has had a direct effect on mortgage
interest rates, which is affecting some segments of the real estate market with
longer marketing times and fewer sale transactions. Only recently (September
2024) did the Federal Reserve lower the rate by 0.5% as a result of a slowing
in economic conditions and a decline in inflationary factors which was the first
rate cut since March of 2020. Additional rate cuts of 0.25% were made on
November 7, 2024 and December 18, 2024. As of the effective date of this
report, limited data was available to determine the direct and indirect effect of
the pandemic on the real estate market, but the economy has been affected by
the higher interest rate environment, and now there is additional uncertainty with
the trade tariffs. The intended user of this report should be
aware that aseconomic data becomes available over the coming months, the
value containedwithin this report could be affected.
The Extraordinary Assumptions / Special Limiting Conditions listed above could
affect our assignment results.
JS25-071 PARRISH & EDWARDS, INC.
Page 64 of 275
Agenda Item #3.
CERTIFICATION
We hereby certify that to the best of our knowledge and belief:
1.The statements of fact contained in this report are true and correct.
2.The reported analyses, opinions, and conclusions are limited only by the
reported assumptions and limiting conditions, and are our personal,
impartial, and unbiased professional analyses, opinions, and
conclusions.
3.We have no present or prospective interest in the property that is the
Subject of this report, and we have no personal interest or bias with
respect to the parties involved.
4.I have no bias with respect to the property that is the subject of this report
or to the parties involved with this assignment.
5.Our engagement in this assignment was not contingent upon developing
or reporting predetermined results.
6.Our 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.
7.The reported analyses, opinions, and conclusions were developed and
this review report has been prepared, in conformity with the requirements
of the Code of Ethics & Standards of Professional Appraisal Practice of
the Appraisal Institute, which include the Uniform Standards of
Professional Appraisal Practice.
8.The use of this report is subject to the requirements of the Appraisal
Institute relating to review by its duly authorized representatives.
9.Brian G. Edwards and Joseph N. Stair have made an inspection of the
properties that are the subject of this report.
10.No one provided significant professional assistance other than the
person(s) signing this report.
JS25-071 PARRISH & EDWARDS, INC.
Page 65 of 275
Agenda Item #3.
CERTIFICATION (CONT'D)
11.The Appraisal Institute conducts a program of continuing education for
designated members who meet the minimum standards of this program
and are awarded periodic educational certification. As of the date of this
report, I, Brian G. Edwards have completed the requirements under the
continuing education program of the Appraisal Institute.
12.Our analyses, opinions, or conclusions that were developed in this report
have been prepared in conformity with the requirements of the State of
Florida for the State Certified Appraisers.
13.The use of this report is subject to the requirements of the State of Florida
relating to review by the Real Estate Appraisal Subcommittee of the
Florida Real Estate Commission.
14.I, Brian G. Edwards, 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
15.I, Joseph N. Stair, 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
Brian G. Edwards, MAI
State Certified General Real Estate Appraiser #RZ1303
Joseph N. Stair
State Certified General Real Estate Appraiser #RZ2952
JS25-071 PARRISH & EDWARDS, INC.
Page 66 of 275
Agenda Item #3.
SUMMARY OF SALIENT FACTS
LOCATION:
Lot 1 XXX Main StreetTequestaFL 33469
Lot 2
XXX Main StreetTequestaFL 33469
Lot 3
XXX Main StreetTequestaFL 33469
OWNER OF RECORD: FP Tequesta Property Owner, LLC
DESCRIPTION:
Site
Lot #TypeAddressSizeZoningLand Use
1Vacant, SodXXX Main Street51,780MUMU
2Vacant, PavedXXX Main Street43,050MUMU
3Vacant, SodXXX Main Street44,287MUMU
FLOOD ZONE: "X" as indicated by Community Map Panel
#12099C0179G, dated December 20, 2024
CENSUS TRACT: 1.02
HIGHEST AND BEST
USE (AS VACANT): Mixed Use
FINAL VALUE INDICATIONS:
Value
Property #Conclusions
1$3,310,000
2$2,320,000
3$2,830,000
Overall (Bulk) Value: $8,460,000
JS25-071 PARRISH & EDWARDS, INC.
Page 67 of 275
Agenda Item #3.
DATE OF INSPECTION: August 19, 2025
EFFECTIVE DATE OF VALUE: August 19, 2025
MARKET/EXPOSURE TIME: 6 to 12 Months
APPRAISERS: Parrish & Edwards, Inc.
Brian G. Edwards, MAI
Joseph N. Stair
JS25-071 PARRISH & EDWARDS, INC.
Page 68 of 275
Agenda Item #3.
1
SUBJECT LOT #1 - LOOKING NORTH FROM BRIDGE ROAD
ST FROM WEST BOUNDARY
JS25-071 PARRISH & EDWARDS, INC.
Page 69 of 275
Agenda Item #3.
2
SUBJECT L
UTH FROM TEQUESTA DRIVE
JS25-071 PARRISH & EDWARDS, INC.
Page 70 of 275
Agenda Item #3.
3
SUBJECT LOBRIDGE ROAD
JS25-071 PARRISH & EDWARDS, INC.
Page 71 of 275
Agenda Item #3.
4
MAIN STREET LOOKING NORTH
TEQUESTA DRIVE LOOKING WEST
JS25-071 PARRISH & EDWARDS, INC.
Page 72 of 275
Agenda Item #3.
5
LOCATION MAP
JS25-071 PARRISH & EDWARDS, INC.
Page 73 of 275
Agenda Item #3.
6
APPRAISAL REPORT
This is an appraisal report which is intended to comply with the reporting
requirements set forth under Standard Rule 2-2 of the Uniform Standards of
Professional Appraisal Practice. As such, it presents summary discussions of the
data, reasoning and analysis that were used in the appraisal process to develop the
ng documentation concerning the data,
reasoning and analysis is summarized in this report and/or retained in the
ned in this report is specific to the
needs of the client and for the intended use stated within this report. The appraiser
is not responsible for the unauthorized use of this report.
PARCEL REFERENCE: P&E File #JS25-071
CLIENT
:Village of Tequesta
c/o Mr. Jay Hubsch
Community Development Director
345 Tequesta Drive
Tequesta, Florida 33469
APPRAISERS: Brian G. Edwards, MAI
State Certified General
Real Estate Appraiser #RZ1303
Joseph N. Stair
State Certified General
Real Estate Appraiser #RZ2952
Parrish & Edwards, Inc.
3450 Northlake Boulevard, Ste. 285
Palm Beach Gardens, Florida 33403
SUBJECT PROPERTY
OWNER: FP Tequesta Property Owner LLC
REAL ESTATE APPRAISED: Property Locations:
Lot #AddressCity
1XXX Main StreetTequestaFL 33469
2XXX Main StreetTequestaFL 33469
3XXX Main StreetTequestaFL 33469
JS25-071 PARRISH & EDWARDS, INC.
Page 74 of 275
Agenda Item #3.
7
LEGAL DESCRIPTIONS:
Legal
#AddressDescriptionTax Folio #
60-43-40-30-47-001-0000
1XXX Main Street
Tequesta Village Center Parcel 1
60-43-40-30-47-002-0000
2XXX Main Street
Tequesta Village Center Parcel 2
60-43-40-30-47-003-0000
3XXX Main Street
Tequesta Village Center Parcel 3
Source: Palm Beach County Proper
PURPOSE OF THE
APPRAISAL: The purpose of the appraisal is to provide an
the Fee Simple Estate in the Subject Properties
as of August 19, 2025 as well as an overall or bulk
value.
INTENDED USE AND USER: The intended use of this appraisal is to provide an
opinion of the market values of the Subject
Properties to assist the client in the decision-
making process with regard to the potential
purchase of the properties. The intended user of
this report is the Village of Tequesta c/o Mr. Jay
Hubsch, Tequesta Community Director. The
client has not advised us of any intended
subsequent user of this report. This report should
not be relied upon by anyone other than the
intended user and for any use other than the use
stated above.
INTEREST APPRAISED: The property rights appraised are the
unencumbered Fee Simple Estate of the Subject
Property.
Fee Simple: Absolute ownership unencumbered
by any other interest or estate, subject only to the
limitations imposed by the governmental powers
of taxation, eminent domain, police power, and
escheat.
Source: The dictionary of Real Estate Appraisal,
Appraisal Institute.
JS25-071 PARRISH & EDWARDS, INC.
Page 75 of 275
Agenda Item #3.
8
ESTIMATED EXPOSURE /
MARKETING TIME: Per the Appraisal Institute, Exposure Time relates
to the time preceding the appraisal date that the
Subject hypothetically would have been offered
on the market prior to a hypothetical sale on the
effective date of the appraisal. Marketing Time is
the time required to sell the property after the
appraisal date.
In estimating the marketing period for the Subject
Property, discussions were held with local real
estate professionals including brokers and
area. Based on discussions with brokers and
other professionals in the market, a
marketing/exposure time for the Subject Property
of 6 to 12 months is considered reasonable,
assuming marketing by an experienced broker at
a reasonable price.
FIVE YEAR SALES HISTORY: A search of the Public Records of Palm Beach
County indicated the Subject Properties sold in
2023. Lot 1 sold on March 31, 2023 for
$1,200,000. The seller was Main Street Village,
Inc. Lots 2 and 3 sold together on March 31, 2023
for $2,300,000. The seller for Lots 2 and 3 was
J.M.Z Tequesta Properties. This sale will be
discussed in more detail in the Sales Comparison
knowledge the Subject Properties are not
currently listed for sale or under contract.
PropertyFive Year
Lot #AddressCitySales History
3/23 - $ 1,200,000
1XXX Main StreetTequesta
3/23 - $ 2,300,000*
2XXX Main StreetTequesta
3/23 - $ 2,300,000*
3XXX Main StreetTequesta
*Lot 2 and 3 sold together for a total of $2,300,000 in March 2023.
DATE OF INSPECTION: August 19, 2025
EFFECTIVE DATE OF APPRAISAL: August 19, 2025
JS25-071 PARRISH & EDWARDS, INC.
Page 76 of 275
Agenda Item #3.
9
DEFINITION OF MARKET VALUE
The regulatory required market value definition is:
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 consummation of a sale as of a specified date and passing
of title from seller to buyer under conditions whereby:
1.Buyer and seller are typically motivated;
2.Both parties are well informed or well advised and each acting in what
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 the normal consideration for the property sold
unaffected by special or creative financing or sales concessions
granted by anyone associated with the sale.
Source:
*Uniform Standards of Professional Appraisal Practice, Page I-7
*Federal Reserve System, 12 CFR Parts 208 and 225, Sec. 225.62
*Office of the Comptroller of the Currency, 12 CFR Part 34, Sec. 34.42
*FDIC, 12 CFR Part 323, Sec. 323.2
*Office of Thrift Supervision, 12 CFR Part 564, Sec. 564.2
*NCUA, 12 CFR Part 722, Sec. 722.2
*RTC, 12 CFR Part 1608, Sec. 1608.2
*FIRREA, Title XI
JS25-071 PARRISH & EDWARDS, INC.
Page 77 of 275
Agenda Item #3.
10
SCOPE OF APPRAISAL
Per the Appraisal Institute, an appraisal report is intended to comply with the
reporting requirements set forth under Standards Rule 2-2 of the Uniform Standards
of Professional Appraisal Practice. As such, it presents summary discussions of the
data, reasoning, and analysis that were used in the appraisal process to develop
the appraiser's opinion of value. Supporting documentation concerning the data,
reasoning, and analysis is summarized in this report and/or retained in the
appraiser's file. The depth of discussion contained in this report is specific to the
needs of the client and for the intended use stated within this report. The appraiser
is not responsible for the unauthorized use of this report.
This report will provide an opinion of the individual market values of the Subject
Properties and an overall value and will be in a summary format, with more detailed
data maintained in our files. This report will contain a chart summarizing the
applicable sales.
In preparing this report, the appraiser personally inspected the Subject Properties.
If possible, all sales data was verified with an interested party such as the buyer,
seller, property manager, real estate agent, or closing attorney. The search for data
was concentrated primarily in the Subject's immediate area but if limited sales data
was available the search was expanded to other areas of Palm Beach County.
Our opinion of the Market Value will be derived by considering the three standard
approaches to value that are summarized as follows:
COST APPROACH - A set of procedures through which a value indication is derived
for the fee simple estate by estimating the cost new as of the effective date of the
appraisal to construct a reproduction of (or replacement for) the existing structure,
including an entrepreneurial incentive; deducting depreciation from the total cost;
and adding the estimated land value. The contributory value of any site
improvements that have not already been considered in the total cost can be added
on a depreciated-cost basis. Adjustments may then be made to the indicated value
of the fee simple estate in the subject property to reflect the value of the property
rights being appraised.
SALES COMPARISON APPROACH - The process of deriving a value indication
for the subject property by comparing sales of similar properties to the property
being appraised, identifying appropriate units of comparison, and making
adjustments to the sale prices (or unit prices, as appropriate) of the comparable
properties based on relevant, market-derived elements of comparison. The sales
comparison approach may be used to value improved properties, vacant land, or
land being considered as though vacant when an adequate supply of comparable
sales is available.
JS25-071 PARRISH & EDWARDS, INC.
Page 78 of 275
Agenda Item #3.
11
INCOME CAPITALIZATION APPROACH - Specific appraisal techniques applied
to develop a value indication for a property based on its earning capability and
calculated by the capitalization of property income.
The Sales Comparison Approach is the only approach considered applicable in
valuing vacant land similar to the Subject Properties.
Our analysis is based upon a physical inspection of the Subject Sites and
information provided by the owner, the client, agents, and public records. In
completing this assignment, the appraiser has engaged in original research of sales
and general trends in the market. Data has been gathered from various sources,
including public records, area brokers, appraisers, property owners, and published
sources. Additionally, we have used original research performed in the preparation
of other appraisals by this office, which is considered appropriate for the Subject
Property. The product of this research and analysis is the valuation conclusion
contained herein.
JS25-071 PARRISH & EDWARDS, INC.
Page 79 of 275
Agenda Item #3.
12
PALM BEACH COUNTY SUMMARY
The Subject Property is located in Palm Beach County, Florida.
Physical Characteristics
Palm Beach County is located along the southeast "Gold Coast" of Florida and is
the second-largest county in the state and ninth in the nation east of the Mississippi
River with a land area of 2,578 square miles, of which roughly 20% is within Lake
Okeechobee and other wetland areas.
The county is rectangular-shaped and is bounded on the east by the Atlantic Ocean,
on the west by Glades and Hendry Counties, on the south by Broward County, and
on the north by Martin County. The geographic center of the county is +/-67 miles
north of Miami and +/- 171 miles southeast of Orlando. Elevation averages 15'
above sea-level. Natural habitat, moving from east to west, includes coastal beach
dune ecosystems, pine flatlands, and freshwater wetland areas.
The county's renewable resources include 45 miles of coastline and an average
year-round temperature of 75 degrees. Average temperature ranges from a low of
67 degrees to a high of 83 degrees. Winter temperatures are moderated by the Gulf
Stream warm water current less than two miles offshore. These conditions have
proven favorable for tourism, agriculture, and population in-migration.
JS25-071 PARRISH & EDWARDS, INC.
Page 80 of 275
Agenda Item #3.
13
Education
th
The School District of Palm Beach County ranks as the 10
largest in the nation and
fifth largest district in the State of Florida. The District had over 190,000 PreK
th
through 12 grade students at FYE 2024. There are 235 public schools including
elementary schools, middle schools, high schools, ESE, alternative and charter
schools available across the county. There are programs offered through two Virtual
Schools and adult education sites. There are also a variety of private schools
serving the Palm Beach County from preschool through 12th grade.
Palm Beach County has several colleges / universities / technical institutes. Palm
Beach State College offers 4 year degrees and has five campuses having an
estimated total enrollment of approximately 49,000 full and part-time students.
Florida Atlantic University (FAU) is a 4-year college with six campuses with over
72% of students enrolled at the main campus in Boca Raton. FAU is a part of the
state university system with approximately 30,000 students. Other higher-learning
institutions include Lynn University with approximately 3,500 students and Palm
Beach Atlantic University with approximately 3,800 students. Other schools have
campuses located in Palm Beach County including Everglades University,
Northwood University, South University, Keiser University, Nova Southeastern
University and Barry University.
Transportation
Roads in the county essentially run east-west and north-south, forming a grid
system over the eastern one-third of the county. Roadways that extend beyond the
county's borders include State Road 80, State Road 710, Interstate 95, and Florida's
Turnpike.
State Road 80 connects coastal Palm Beach County with the Glades and the west
coast of Florida. This roadway was widened to four lanes from West Palm Beach to
Belle Glade several years ago.
State Road 710 (Beeline Highway) runs from the West Palm Beach area of Palm
Beach County and travels northwest into Martin County.
Interstate 95 is an interstate highway running from Florida to Maine. It serves as the
main north/south artery in the county, transporting over 245,000 cars per day
through Palm Beach County.
Florida's Turnpike is a toll road running from Wildwood to Miami. It serves a mix of
tourist and local traffic. The Turnpike is generally parallel and to the west of
Interstate 95. Several exits and all of the rest stops have recently undergone
renovation.
JS25-071 PARRISH & EDWARDS, INC.
Page 81 of 275
Agenda Item #3.
14
Palm-Tran is a county wide bus system serving all of the county and runs seven
days a week.
Rail transport is via two carriers: Florida East Coast Railway and CSX
Transportation. Both lines are primarily freight oriented with limited passenger
service via Amtrak. The Tri-Rail commuter rail system services Dade, Broward, and
Palm Beach counties for commuter travel between Miami and West Palm Beach.
Brightline is a high speed rail system recently implemented between Miami and
Orlando.
There are five public, general aviation airports in Palm Beach County and eight
private airfields which serve local commercial/executive needs. The largest, Palm
Beach International Airport is centrally located southwest of the city of West Palm
Beach and eighteen airlines currently serve destinations in the continental United
States and direct international flights to the Caribbean and Canada.
The Palm Beach International Airport had total passengers of 8,403,519 for the
twelve month period ending December 2024 which increased 8.2% from the total
passengers from the previous twelve month period. The largest passenger carriers
were Jet Blue, Delta, American Airlines and United. Other larger carriers included
Southwest, Frontier, Spirit, Allegiant, Avelo, and Air Canada.
The Port of Palm Beach is located due west of the Lake Worth inlet in Riviera Beach.
The Port of Palm Beach is the fourth busiest container port of
th
ports, and is the 18 busiest container port in the United States. The Port handles
a variety of incoming and outgoing cargo including agricultural products, general
cargo, oil and cement, and cruise line passengers. The Port of Palm Beach and its
tenants combine to become one of the largest employers in Palm Beach County
with many exports supporting the Caribbean. A Foreign Trade Zone has been in
operation since 1987.
Economic Drivers
Population growth through in-migration is one of the primary economic drivers in the
county. The county's year round population was 1,320,124 in 2010. Projected
population estimates are expected to continue to increase. The estimated
population for Palm Beach County in April 2024 was 1,545,905. The medium
projected estimate for 2030 is expected to be 1,643,399. The following page
provides a breakdown of population estimates by municipality.
JS25-071 PARRISH & EDWARDS, INC.
Page 82 of 275
Agenda Item #3.
15
April 1, 2024April 1, 2023
AreaPopulation EstimatePopulation Estimate
tğƌƒ.Ļğĭŷ/ƚǒƓƷǤ 1,545,9051,532,718
Atlantis2,1352,147
BelleGlade17,46817,286
BocaRaton100,560100,491
BoyntonBeach82,39382,208
BrinyBreezes498500
CloudLake137140
DelrayBeach68,09667,213
GlenRidge214215
Golf287281
Greenacres45,43945,476
GulfStream956959
Haverhill2,1882,193
HighlandBeach4,2874,303
Hypoluxo2,6722,687
JunoBeach3,8713,883
Jupiter61,21561,333
JupiterInletColony412400
LakeClarkeShores3,5453,556
LakePark9,0149,025
LakeWorthBeach43,47243,432
Lantana12,23912,244
LoxahatcheeGroves3,3743,373
Manalapan416420
MangoniaPark2,5112,369
NorthPalmBeach13,10113,145
OceanRidge1,8101,830
Pahokee5,6665,607
PalmBeach9,2129,207
PalmBeachGardens62,46961,517
PalmBeachShores1,2831,309
PalmSprings27,31227,167
RivieraBeach39,39038,795
RoyalPalmBeach40,43040,299
SouthBay4,9844,958
SouthPalmBeach1,4651,469
Tequesta6,0936,179
Wellington61,79461,788
Westlake6,4194,694
WestPalmBeach125,401122,157
UNINCORPORATED671,677666,463
Sources: 2024, 2023 US Census and Office of Economic and Demographic Research
JS25-071 PARRISH & EDWARDS, INC.
Page 83 of 275
Agenda Item #3.
16
Construction
The demand trends for office space in Palm Beach County remain divided between
the North and South County submarkets. North County has shown consistent
positive absorption over the past decade, with 2024 closing with 120,000 square
feet of absorption, primarily from the West Palm Beach CBD and Palm Beach
Gardens. On the other hand, South County has experienced mixed results over the
past ten years, principally a result of an influx of large block second generation
spaces, with some years ending in positive absorption and others in negative. In
2024, South County closed the year with negative absorption of 143,000 square
feet, mainly due to large blocks of available office space in North Boca. Properties
under construction in 2024 total 813,100 square feet with 664,000 square feet in
North County and 149,100 in South County. Source: CBRE - OFFICE Q4 2024
vacancy rate ended Q1 2025 at 6.6%. Only
kets recorded vacancy increases over
the past year. With 1.1 million square feet of construction completions over the past
12 months still unoccupied, the Jupiter subm
to 22.8% by the close of Q1 2025. Meanwhile, Boca Raton rose to 9.3%. A total of
776,692 square feet was under construction at the end of Q1 2025, unchanged from
the previous quarter. This marked just the second quarter without a construction
start in three years and the first without a project delivery in 10 quarters. The
expected lease-up and occupancy, coupled with a muted pipeline and the lack of
construction starts point to vacancy rates trending downward in 2025. First quarter
new leasing activity totaled 208,877 square feet, up 29.4% quarter-over-quarter. Q1
2025 marked the first quarter with net occupancy losses in two years. Palm Beach
was $13.30 per square foot, down 9.8%
(year-over-year). Source: Cushman & Wakefield Industrial 1Q 2025
The West Palm Beach Metro Area for multi-family development over the past year
ending the 4Q 2024 showed approximately 3,900 units delivered. The average
rental rate increased to $2,475. Source: Marcus & Millichap | WEST PALM BEACH
Multifamily Q4 2024
The 2024 single family residential building permit activity reflects the highest
numbers in Westlake, West Palm Beach, Palm Beach Gardens, Boca Raton, Delray
Beach and unincorporated areas of the county. Multi-family building activity is
concentrated in West Palm Beach, Delray Beach, Royal Palm Beach, Pahokee, and
unincorporated areas of the county. For 2024, there were 2,629 building permits for
single family units and 1,373 building permits for multiple family dwelling units, with
he building permit value decreased 15%
from the previous year. Other new public and private construction projects in all
sectors are ongoing in the county. For 1Q 2025, there are 560 building permits for
single family units and 638 building permits for multiple family dwelling units. Source:
Palm Beach County Planning & Zoning.
JS25-071 PARRISH & EDWARDS, INC.
Page 84 of 275
Agenda Item #3.
17
Health Care
Health care is one of Florida's fastest growing service sectors, employing over
500,000 of the state's service workers and generating almost $1.3 billion dollars in
payrolls. Approximately 35,000 health care practitioners and workers are employed
in Palm Beach County.
Palm Beach County has several acute-care hospitals including the regional
Veterans Administration Medical Center. Included are two trauma centers - one at
Delray Medical Center in Delray Beach, and the other at St. Mary's Medical Center
in West Palm Beach.
There are numerous nursing homes available in Palm Beach County. In addition,
there are Urgent Care Centers, Hospices, Public Health Clinics, Treatment Centers,
and Adult Living Facilities to serve the needs of the growing population.
Tourism
travelers. The county visitor industry employs more than 50,000 people and
contributes more than $2.6 billion annually to the economy. A record 9.5 million
visitors came to the Palm Beaches in 2023, according to numbers released by
tourism officials. From January to June 2024, The Palm Beaches welcomed 5.19
million visitors, a 1.7% increase compared to the first half of 2023. International
visitation grew to an all-time high of 488,100 visitors, an 11.9% increase compared
to the first half of 2023. Visitor spending reached an all-time high of $4.05 billion, a
2.4% increase compared to the first half of 2023, contributing to the economic vitality
of the region.
The Palm Beach submarket has experienced minimal growth in Q1 2024 following
decreased RevPAR in 2023. Twelve-month RevPAR for May declined 5.7% through
March 2024, ADR was down 1%, and occupancy was down 4.3%. There were 350
rooms under construction within the year 2024. Over 1,000 rooms currently in the
final planning stages are set to open in 2025 or 2026. The supply surge has led to
a reduction in the occupancy rate, and rooms opened in 2024 are expected to limit
further gains in occupancy. In Q1 2024, group occupancy in luxury and upper-
upscale hotels declined slightly to 0.2%, while transient occupancy declined to 2.8%.
Group ADR grew 9.8%, while transient ADR was flat at 0%. Palm Beach County by
the numbers: Occupancy: 67.1%, ADR: $252.10, RevPAR: $169.24, Rooms:
19,533 | Last 12 Months | Source: CoStar Group. Notably, Palm Beach County
hotels saw a 17% surge in RevPAR in
onth came in at around $239, while ADR
was up just over 7%, to $313, according to data from CoStar 1Q 2025.
JS25-071 PARRISH & EDWARDS, INC.
Page 85 of 275
Agenda Item #3.
18
Agriculture
Commercial agricultural production is one of
industries and employer. Two major crops in Palm Beach County are sugar and
citrus. Agricultural production is expected to remain a vital segment of the Palm
Beach County economy however coastal farmland acreage is gradually declining as
urbanization spreads westward.
In addition, Palm Beach County's Equestri
premier locations for polo, jumpers, and dressage. Additionally, there is an extensive
private recreational horse population.
Employment
An analysis of workforce and demographic characteristics, including commuting
patterns of Palm Beach County was conducted to provide economic data on the
population and labor force living or working in the county. A detailed examination of
commuting patterns for Palm Beach County shows that the county has a net inflow
of 24,303 workers with approximately 32.0% of workers who reside in Palm Beach
County employed outside the county. Palm Beach County was ranked 61 of 67 for
the highest outflow rankings among Florida counties. Of the 173,031 Palm Beach
County workers employed outside the county, the top destination counties are
Broward County (76,116 workers) and Miami-Dade County (31,281 workers). Of the
197,334 Palm Beach County workers living outside the county, the top origin
counties are Broward County (70,988 workers), Miami-Dade County (29,394
workers), and St. Lucie County (16,348 workers). Source: Florida Department of
Economic Opportunity
Unemployment was 3.9% as of June 2025 up from 3.6% in June 2024 with a labor
force of 779,860 in June 2025 down from 778,144 in June 2024.
JS25-071 PARRISH & EDWARDS, INC.
Page 86 of 275
Agenda Item #3.
19
JS25-071 PARRISH & EDWARDS, INC.
Page 87 of 275
Agenda Item #3.
20
Residential
Over the past several years, the real estate market had been trending upward with
sales prices and rental rates increasing and vacancy rates declining. However,
certain market segments appear to have stabilized or softened as a result of higher
interest rates, and there continues to be uncertainty in the economy as a result of
covid variants, inflation pressures, higher interest rates, supply chain shortages, and
additional uncertainty with the new trade tariffs. The long term effects on the Palm
Beach County market have yet to be determined.
JS25-071 PARRISH & EDWARDS, INC.
Page 88 of 275
Agenda Item #3.
21
AREA MAP
JS25-071 PARRISH & EDWARDS, INC.
Page 89 of 275
Agenda Item #3.
22
AREA/NEIGHBORHOOD ANALYSIS
The Subject Properties are located along the east and west side of Main Street,
approximately 350 feet west of US Highway 1 between Tequesta Drive and Bridge
Road, Tequesta, Palm Beach County, Florida.
The Town of Jupiter and the Village of Tequesta to the north represent the
northeastern extreme municipality limits of Palm Beach County, with Martin County
located approximately 2 ½ miles north of Indiantown Road.
The Subject Property is located within the corporate limits of the Village of Tequesta.
The Village of Tequesta a 2024 estimated population of 6,093 according to the Palm
Beach County profile. The Town of Jupiter has a 2024 estimated population of
61,215 according to the Palm Beach County profile. The City of Palm Beach
Gardens has a 2024 estimated population of 62,469 according to the Palm Beach
County profile. Population growth has been steadily increasing for the area during
the past decade, with long-term growth expected to cont
location and access to amenities. However, with the limited supply of vacant land in
the immediate area, growth will likely be at a slower pace. One of the major features
of the Subject area is the large Loxahatchee River frontage, which separates the
Town of Jupiter and the Village of Tequesta. This river is widely used for recreational
boating as well as providing expensive residential waterfront properties. The
northwestern portion of the river was recently designated as a natural scenic
river/aquatic preserve. The river flows into the Intracoastal Waterway and the
Atlantic Ocean at the Jupiter Inlet.
The major east/west roads consist of Indiantown Road and Donald Ross Road.
Indiantown Road (State Road 706) extends from Ocean Boulevard to several miles
west of I-95, providing main access to the large Jupiter Farms area. Interchanges
for I-95 and the Florida Turnpike are located on Indiantown Road. Donald Ross
Road is a four-lane divided road which also provides I-95 access. Major north/south
arteries of transportation in the area include I-95, Military Trail, Alternate A1A, and
U.S. Highway One. North/south roadways include Alternate A1A (Old Dixie
Highway) and U.S. Highway One. Local roadways include County Line Road,
Tequesta Drive, Riverside Drive, Country Club Drive, and Seabrook Road. County
Line Road is a two lane connector roadway which runs from U.S. Highway #1 on
the east and follows the Martin/Palm Beach County Line to the west, providing
access for the residential areas in this area. Tequesta Drive is a connector roadway
linking the commercial area to the east with residential areas to the west. Riverside
Drive follows the Loxahatchee River and is primarily residential in nature.
The Jupiter/Tequesta area has all the community conveniences found in most
municipalities of Palm Beach County including houses of worship, schools,
hospitals/medical, municipal, retail, recreation, and more.
JS25-071 PARRISH & EDWARDS, INC.
Page 90 of 275
Agenda Item #3.
23
Office Use: Professional office uses are primarily located along Indiantown Road,
U.S. Highway One and Military Trail. Buildings are primarily one to three-story multi-
tenant buildings with many having been built within the past 15 to 40 years and
many of these buildings are condominiums. There are also a few office buildings in
excess of three-stories but most are one to three-stories.
Retail Use: Significant commercial uses are located along Indiantown Road, Donald
Ross Road, Alternate A1A and Military Trail and consist of anchored shopping
centers with numerous out-parcels and free-standing retail buildings, restaurants
and banks.
Industrial Use: Older industrial uses are located between Center Street and
Indiantown Road just west of Old Dixie Highway. The uses within this area consist
of auto service or light industrial uses dominated by local businesses that service
the surrounding residential population base. The typical buildings are older and
consist of a combination of small owner user facilities or multi-tenant buildings with
small bays. Some industrial uses are also located on some of the side streets off of
Indiantown Road.
Residential Area Sales
JS25-071 PARRISH & EDWARDS, INC.
Page 91 of 275
Agenda Item #3.
24
Some of the larger developments currently planned, under construction, or recently
completed nearby are as follows:
a medical office building (31,700 SF),
fast food outlet (4,008 SF), restaurant (4,500 SF), retail (1,725 SF), and 351
residential apartment units.
Jupiter Innovation (aka Jupiter Medical and Technology Pa
50,000 square-foot building for medical office and business office; and a two-story
parking garage, on 15.9± acres.
JS25-071 PARRISH & EDWARDS, INC.
Page 92 of 275
Agenda Item #3.
25
Jupiter Medical Center - Major expansion to add a five-story 135,016 square
foot addition and construct a five-level parking garage on the east side of the existing
hospital building, on 27.3± acres.
anned three story office building with underground
parking and a two story restaurant with outdoor dining, a tiki bar and a private dock
on 4.6 acres.
office building with three floors of
underbuilding parking, restaurant with outdoor seating, three (3) residential
accessory units, and a marina, on 2.95 acres.
dential units, bioscience/high tech
(150,000 SF), restaurant (5,000 SF), and drugstore (14,750 SF).
The Love Street project - a Planned Unit Development (PUD) for a
commercial development that includes retail (40,512 SF), a restaurant (17,051 SF),
fast food outlet (1,000 SF), a club/catering hall (25,311 SF), office space, and
vacation rental. The 4 acre site is located on the northwest corner of A1A and Love
Street with frontage along the south side of the Jupiter Inlet.
Water Pointe - A 35 multi-family residential units on 4.2 acres located on the
west side of U.S. Highway 1, approximately 850 feet north of the intersection of U.S.
1 and Ocean Way. Under Construction.
Caretta - Northwest corner of US Highway One and Donald Ross Road,
Jupiter. This project will have 95 condominiums in four buildings plus some
commercial first floor space. The project does not have waterfrontage but will have
beach access.
River Plaza - A five story, 50,575 square foot office building with 41,063
square feet of business office, 7,000 square feet of medical, 6,151 square feet of
restaurant space with 788 square feet of outdoor seating, 3,361 square feet of
limited ancillary retail and a 130,740 square foot parking garage, modify an existing
four story, 32,070 square foot office building to add an open air pavilion, on 4.8+/-
acres.
CONCLUSION
In summary, the immediate neighborhood can be characterized as being an
established area with favorable demographics that are above average for the
County.
JS25-071 PARRISH & EDWARDS, INC.
Page 93 of 275
Agenda Item #3.
26
JS25-071 PARRISH & EDWARDS, INC.
Page 94 of 275
Agenda Item #3.
27
AERIAL P
AERIAL PHOTO - LOTS 1, 2, & 3
JS25-071 PARRISH & EDWARDS, INC.
Page 95 of 275
Agenda Item #3.
28
SITE DATA
Size and Shape:
The Subject Properties consist of three irregular shaped parcels.
SiteApprox.
Lot #
TypeAddressSizeDimensions
1Vacant LandXXX Main Street 51,780Irregular
2Vacant LandXXX Main Street 43,050Irregular
3Vacant LandXXX Main Street 44,287Irregular
Location and Accessibility:
The Subject Properties are located around a traffic circle on the east and west sides
of Main Street between Tequesta Drive and Bridge Road in the Village of Tequesta.
The individual lots do not have street addresses. Lot 1 is located at the southwest
quadrant of Main Street and the Main Street traffic circle; Lot 2 is located at the
northwest quadrant of Main Street and the Main Street traffic circle; Lot 3 is located
at the southeast quadrant of Main Street and the Main Street traffic circle. Main
Street is a secondary road that runs between Tequesta Drive and Bridge Road.
Tequesta Drive and Bridge Road run east/west from US Highway 1 providing access
to the Subject neighborhood. US Highway 1 is a primary north/south road that runs
through Palm Beach County. Access to the individual lots are available from Main
Street and several access easements.
Topography and Drainage:
The Subject sites appear level and are at or near road grade. Lot 1 and 3 are cleared
and have a sod covering. Lot 2 is asphalt paved with drainage catch basins in place.
Additional drainage is located along the surrounding roadways.
JS25-071 PARRISH & EDWARDS, INC.
Page 96 of 275
Agenda Item #3.
29
Easements and Encroachments:
Surveys of the Subject Properties were not available at the time of this report. We
are aware of multiple access and parking easements that encumber the Subject
Properties. The descriptions of these easements are as follows:
Lot 1, located at the southwest quadrant of Main Street and the centrally located
Main Street traffic circle is encumbered by a parking easement that allows the
adjacent property to the west (250 Tequesta Drive) the use of an area to
accommodate 21 parking spaces on Lot 1. Based on a sketch located within the
parking easement document and the size of a typical parking space, we have
estimated that the west 20 feet of Lot 1 would be needed to satisfy the parking
requirement as set forth in the easement. The parking easement would have
nd contain a total of 4,500 square feet
(8.7% of the total site area). This parking easement would restrict development on
this site.
Lot 2 is located on the northwest quadrant of Main Street and the centrally located
traffic circle on Main Street. The site is leveled, cleared and has been asphalt paved
with on-site drainage in place. The parcel contains 43,050 square feet. The site is
encumbered by a parking easement which dedicates at least 40 parking spaces to
the adjacent property to the east (1 Main Street) depending on the uses and parking
requirements for this parcel. The location of the easement within the site is not
designated. Although this would allow for some flexibility on where those spaces
would be provided, this parking easement would restrict development on this site
and encumber approximately 30% to 40% of the site.
Lot 3 is located on the southeast quadrant of Main Street and the centrally located
traffic circle on Main Street. The site is leveled, cleared and sod covered. The parcel
contains 44,287 square feet. The site is encumbered by an access easement which
is located along the east boundary of the site. The easement dedicates a 24-foot
wide portion of the site that runs the length of the eastern boundary or approximately
200 feet. The access easement contains approximately 4,800 square feet (10.8%
of the site). The access easement contains approximately 4,800 square feet (10.8%
of the site) and provides access to the adjacent property to the east. This access
easement would restrict development on this site.
There were no other apparent easements or encroachments noted that would
adversely affect the development of the sites. However, current surveys would be
recommended to verify the existence of any other potential adverse easements or
encroachments.
JS25-071 PARRISH & EDWARDS, INC.
Page 97 of 275
Agenda Item #3.
30
Environmental Issues:
No adverse environmental conditions were noted, however, this is the domain of
environmental experts, and the appraiser is not responsible for unapparent
subsurface conditions. No environmental report was provided, and this appraisal
assumes clean sites
Utilities:
The Subject Properties have public water and sewer service available. Electrical
service is provided by Florida Power & Light and various private contractors provide
communication services. All other municipal services are also available to the sites,
including police and fire protection, by the Village of Tequesta.
Census Tract:
The Subject Properties are located in Census Tract 1.02. The 2024 estimated
population for this tract is 3,268. The 2024 estimated Median Family Income for this
tract is $131,835. The total housing units are 2,443 with 1,179 units being owner
occupied and 339 being renter occupied. Median housing age is 34 years.
Flood Zone:
The Subject Properties are located in Flood Zone "X", as indicated by Community
Map Panel #12099C0179G, dated December 20, 2024. This flood zone
classification would not typically require flood insurance.
JS25-071 PARRISH & EDWARDS, INC.
Page 98 of 275
Agenda Item #3.
31
Zoning/Land Use:
SiteLandUse
TypeAddressSizeZoningDesignation
Lot #
1VacantXXX Main Street51,780MUMU
2VacantXXX Main Street43,050MUMU
3VacantXXX Main Street44,287MUMU
The Mixed Use (MU) zoning district purpose and intent is to establish a village center
which creates a vital, diverse core for the principles which utilize mixed-use
development concepts and which permit a combination of usually separated uses
within a unified development district area. The MU zoning district allows for a variety
of uses including both commercial and residential uses. The district restricts building
heights to four stories with
district, residential use shall make up no less than 20% of the project and no more
than 80%. The Subject Properties could also be developed under the Live Local Act,
but would still be restricted to 18 units per acre although the height restriction of four
stories could be increased to 11 stories. This option could require a work force
housing component.
Concurrency:
In 1985, the Florida Legislature enacted the Local Government Comprehensive
Planning and Land Development Regional Act (Chapter 163, Part II, Florida
Statutes), commonly referred to as the "Growth Management Act". Pursuant to
Section 163.3177 (10) (h), F.S., "it is the intent of the Legislature that public facilities
and services needed to support development shall be available concurrent with the
impacts of such development." From this statement, the term, the term
"concurrency" was derived, and is commonly used to refer to the above legislation
and its requirements. The basis of the concurrency concept is Rule 9J-5.0055 of the
Florida Administrative Code.
In 2011 the "Community Planning Act" was passed as HB 7207. This legislation
significantly limits the role of state agencies and giving greater autonomy to local
municipalities in regards to concurrency issues. It revises or removes some of the
key hurdles for many development projects, including demonstrated "need" and
state-mandated concurrency for transportation, schools, and parks and recreation
facilities. The Act also incorporates substantial changes to Chapter 380 that should
result in fewer projects being required to go through the Development of Regional
Impact (DRI) process.
JS25-071 PARRISH & EDWARDS, INC.
Page 99 of 275
Agenda Item #3.
32
Municipalities are encouraged to continue to follow professional guidelines on
concurrency issues to ensure that facilities and services needed to support
development are available concurrent with the impacts of such development. Many
of the basic requirements and features of the current law will remain, but the
changes will provide opportunities for existing, pending and new development
projects and will allow local governments more flexibility and control at the local
level.
We have assumed concurrency will not restrict developing the Subject Properties to
their Highest and Best Uses.
Real Estate Taxes:
The Subject Properties are assessed for 2024 taxes under the following property
control numbers:
Assessor's Assessor's2024
Lot #AddressTax Folio #Market ValueTaxable ValueTaxesTax
60-43-40-30-47-001-0000
1XXX Main St$1,233,041$1,233,041$23,870Pd
60-43-40-30-47-002-0000
2XXX Main St$1,102,530$1,102,530$23,016Pd
60-43-40-30-47-003-0000
3XXX Main St$1,054,651$1,054,651$20,416Pd
Per Palm Beach County Public Records, the 2024 taxes have been paid. According
to the Public Records of Palm Beach County, there are delinquent taxes noted.
Based on our final value conclusions and even considering the assessments are
often 15% to 25% below the recent sale pric
assessments and taxes appear low and an increase in the assessments and taxes
is possible. It should be noted there is a 10% cap on annual increases in the taxable
value as long as ownership does not change.
JS25-071 PARRISH & EDWARDS, INC.
Page 100 of 275
Agenda Item #3.
33
PROPERTY DESCRIPTION
Lot 1
Lot 1 is located at the southwest quadrant of Main Street and the centrally located
traffic circle on Main Street. The site is leveled, cleared and sod covered. The site
has approximately 205 feet of frontage along the north side of Bridge Road and 160
feet of frontage along the west side of Main Street. The parcel contains 51,780
square feet. The site is encumbered by a parking easement which is located along
the west boundary of the site. The easement dedicates an area for 21 parking
spaces for the use of the adjacent parcel to the west (250 Tequesta Drive). We have
estimated dimensions for tcontaining approximately
4,500 square feet (8.7% of the site). This parking easement would restrict
development on this site.
Lot 2
Lot 2 is located at the northwest quadrant of Main Street and the centrally located
traffic circle on Main Street. The site is leveled, cleared and has been asphalt paved
with on-site drainage in place. The site has approximately 290 feet of frontage along
the south side of Tequesta Drive and 130 feet of frontage along the west side of
Main Street. The parcel contains 43,050 square feet. The site is encumbered by a
parking easement which dedicates at least 40 parking spaces for the use of 1 Main
Street depending on the uses and parking requirements for 1 Main Street. The
location of the easement within the site is not designated, but will likely encumber
approximately 30% to 40% of the site.
Lot 3
Lot 3 is located at the southeast quadrant of Main Street and the centrally located
traffic circle on Main Street. The site is leveled, cleared and sod covered. The site
has approximately 200 feet of frontage along the north side of Bridge Road and 140
feet of frontage along the east side of Main Street. The parcel contains 44,287
square feet. The site is encumbered by an access easement which is located along
the east boundary of the site and is paved. The easement dedicates a 24 foot wide
portion of the site that runs the length of the eastern boundary or approximately 200
feet. The access easement contains approximately 4,800 square feet
JS25-071 PARRISH & EDWARDS, INC.
Page 101 of 275
Agenda Item #3.
34
HIGHEST AND BEST USE
Highest and Best Use is defined by the Appraisal Institute in the publication Real
Estate Appraisal Terminology as follows (abbreviated):
Highest and Best Use - That reasonable and probable use that will
support the present value as the effective date of the appraisal.
Alternatively, that use, from among the reasonable, probable, and
legal alternative uses, bound to be physically possible, appropriately
supported, financially feasible, and which, results in the highest land
value.
A proper analysis of the Highest and Best Use of a site is to examine each segment
of the definition.
AS VACANT
Reasonable and Probable/Legally Permissible
The first segment of the definition calls for the use to be reasonable and probable,
and legally permissible. The Subject Properties are located around a traffic circle on
the east and west sides of Main Street between Tequesta Drive and Bridge Road in
the Village of Tequesta. The Subject Proper
underlying land use desizoning permits a variety of
commercial and residential uses. Based on the Subject Properties existing zoning
and land use, a mixed use (commercial / multi-family) would be reasonable,
probable, and legally permissible.
Physically Possible
The next segment calls for the use to be physically possible. The Subject Properties
consist of a 51,780 square foot parcel, 43,050 square foot parcel, and a 44,287
square foot parcel. The sites have adequate width/frontage and depth making
development possible for a variety of uses. The properties are encumbered by
parking and access easements that we have previously discussed. Due to the
existence of the parking and access easements, the site
impacted but still could be developed.
JS25-071 PARRISH & EDWARDS, INC.
Page 102 of 275
Agenda Item #3.
35
Financially Feasible and Appropriately Supported
The final segments of the Highest and Best Use definition call for the use to be
appropriately supported and financially feasible. Generally speaking, new
construction is financially feasible if the value upon completion is at least equal to
the cost to construct.
Given the existing development trends
developing the site with a mixed use project at this time would likely be appropriately
supported and financially feasible, but the financial feasibility for any new
development would have to be evaluated on a case by case basis considering the
specifics of the proposed development and the cost of construction. There is limited
developable land in the immediate area creating a demand for these type properties.
Conclusion As Vacant
Taking into consideration all of the above-mentioned factors, which include location
of the Subject sites, size of the sites, and general supply and demand within the
market area, the highest and best use for the Subject sites, as vacant, is to develop
the sites with a mixed-use project.
JS25-071 PARRISH & EDWARDS, INC.
Page 103 of 275
Agenda Item #3.
36
VALUATION METHODS
In estimating the market value of the Subject Property, three Approaches to Value -
Cost, Sales Comparison, and Income - were considered but as discussed in the
Scope of the Appraisal only the Sales Comparison Approach was considered to be
relevant. The applicable approaches are defined as follows:
SALES COMPARISON APPROACH - The process of deriving a value indication
for the subject property by comparing sales of similar properties to the property
being appraised, identifying appropriate units of comparison, and making
adjustments to the sale prices (or unit prices, as appropriate) of the comparable
properties based on relevant, market-derived elements of comparison. The sales
comparison approach may be used to value improved properties, vacant land, or
land being considered as though vacant when an adequate supply of comparable
sales is available.
(FROM: Real Estate Appraisal Terminology, The Appraisal Institute)
JS25-071 PARRISH & EDWARDS, INC.
Page 104 of 275
Agenda Item #3.
37
SALES COMPARISON APPROACH TO VALUE
To estimate the market value of the Subject Property via the Sales Comparison
Approach, a sales search was conducted to locate and analyze sales data and
compare it to the Subject Properties via appropriate units of comparison. These
sales were analyzed on a price per square foot of site area for the Subject
Properties.
The Sales Comparison Approach is based upon the principle of substitution, which
states that a prudent purchaser would pay no more for a property than the cost of
acquiring a substitute property on the open market. Substitution may assume
purchase of an existing property, with equal utility, or of acquiring an investment
which will produce an income stream of similar size with similar risk, as the Subject
Properties.
An analysis of the market is made in an effort to find reliable units of comparison to
the Subject Properties. Adjustments are made to the sales to account for physical
or economic differences as compared to the Subject Properties. An adjusted sales
price indication is derived from each comparable sale analyzed. These are then
weighted according to their relative comparability and then applied to each Subject
Property to indicate individual values.
JS25-071 PARRISH & EDWARDS, INC.
Page 105 of 275
Agenda Item #3.
38
VACANT LAND SALE #1
JS25-071 PARRISH & EDWARDS, INC.
Page 106 of 275
Agenda Item #3.
39
SALE #2
JS25-071 PARRISH & EDWARDS, INC.
Page 107 of 275
Agenda Item #3.
40
SALE #3
JS25-071 PARRISH & EDWARDS, INC.
Page 108 of 275
Agenda Item #3.
41
SALE #4
JS25-071 PARRISH & EDWARDS, INC.
Page 109 of 275
Agenda Item #3.
42
SALES COMPARISON ANALYSIS
JS25-071 PARRISH & EDWARDS, INC.
Page 110 of 275
Agenda Item #3.
VACANT LAND SALES CHART
DATE
SITE SIZE
OR BK/PGSALESPRICE
(SF)
SALE VerificationLOCATIONPRICE/ SFZONING / LAND USECOMMENTS
Anirregularshapedsiteconsistingofsevencontiguousparcels
Mar-252419-2605 N. Federal Highway$15,000,000190,841SF$78.60GC
1
with600feetoffrontagealongtheeastsideofFederalHighway.
Delray BeachACGeneral Commercial
4.38
Thesiteisclearedandleveled.Propertywaspreviouslypurchased
General Commercial
35629/1481
bytheadjacentpropertyownertothesouthforexpansionoftheir
Delray Beach
autosalesbusinessbutinsteadofdevelopingit,theydecidedtolist
25-071
thepropertyforsale.Noapprovalsattimeofpurchase.Buyer
12 Units per acre
intendedondevelopingatownhomeprojectonthesitebuthas
sincerelistedthesiteatanaskingpriceof$24,000,000.Asiteplan
andrenderingsfora46luxurytownhomedevelopmenthavebeen
completed.
Arectangularshapedparcelconsistingoffourcontiguouslots.The
Jan-251306-1320 Lucerne Avenue$1,675,00030,540SF$54.85MU-E
2
siteislocatedonthenortheastcornerofLucerneAvenueandN.D
Lake Worth BeachACMixed Use East
0.70
Street.Thereisapproximately230feetoffrontagealongthenorth
35499/605Mixed Use East
sideofLucerneAvenueand135feetoffrontagealongtheeastside
Lake Worth
ofN.DStreet.Thesiteislevelandpartiallyclearedwithseveral
25-071
maturetreesonsite.Noapprovalsinplaceattimeofsale.The
30 Units per acre
propertywaspurchasedbytheLakeWorthBeachCRAforfuture
development.
An"L"shapessitewithapproximately185'offrontagealongthe
Dec-2413953 US Highway 1$13,260,000204,732SF$64.77RM-2
3
westsideofUSHwy1and230'alongthesouthsideofDonaldRoss
Juno BeachEffectiveACResidential Multi-Family
4.70
Road.Thesitewaspreviouslyimprovedwithabranchbankthat
35438/780(Effective)General Commercial
wasgivennovalue.PropertywaspurchasedbyPulteHomesandis
$12,960,000Juno Beach
plannedforthedevelopmentof40luxurytownhomestobeknown
25-071Recorded
asTheDunesatJuno.Buyerpurchased.38acresofroadright-of-
12 Units per acre
wayfromthetownofJupiterforapproximately$300,000which
resultsintheeffectivesalepriceandsitesize.Noapprovalsinplace
attimeofsalewiththedevelopertakingthepropertythrough
rezoningandapprovals.Basedonapprovalsthesitehasan
approximate density of 8.51 units per acre.
ThispropertyisavacantparcellocatedonthewestsideofFederal
Aug-23
43103 N. Federal Highway$6,360,00098,446SF$64.60IPUD
HighwayinBoyntonBeach.Developersplantobuild25two-story
Boynton BeachACIPUD Infill Planned Unit Development
2.26
luxurytownhouse/villaunits(11.06units/acre)withpricesstartingat
34544/822Boynton Beach
$1.95million.TheprojectwillbeknownasVenturaVillas.This
complexwillhavesixbuildings,aclubroomandpool,andafitness
24-09720 Units per acre
center.Thesitewasvacantandclearedatthetimeofsale.Selling
brokerindicatedthiswasanarm'slengthsale.Sellerheldpaperat
marketrateswithnoaffectonthesaleprice.Propertyhad
entitlementsfor18unitsattimeofsale,butthebuyersreceived
approvals to develop 25 villas (Ventura Villas).
TheSubjectPropertiesconsistofthreeirregularshapedparcelsthat
Mar-23$1,200,00051,780SF$23.17MU
SubjectLot #1 - 60-43-40-30-47-001-0000
arelocatedalongMainStreetaroundacentrallylocatedtraffic
34220/479Mixed Use
circle.MainStreetislocatedapproximately350'westofUSHwy1
betweenTequestaDriveandBridgeRoad.Lot1islocatedinthe
southwestquadrant;Lot2inthenorthwestquadrant;andLot3in
Mar-23$2,300,00043,050SFMixed Use
Lot #2 - 60-43-40-30-47-002-0000
thesoutheastquadrant.InadditiontotheSubjectProperties
34220/382(Lots 2 & 3)Tequesta
havingfrontagealongMainStreet,thepropertieshavefrontage
Lot #3 - 60-43-40-30-47-003-000044,287SF
alongBridgeRoad(Lots1&3)andTequestaDrive(Lot2).The
18 Units per acre
SubjectPropertiesarevacantwithLots1&3beingclearedand
87,337SF$26.33
leveledwithasodcoveringwhileLot2hasbeenasphaltpavedwith
drainageandapproximately53linedparkingspaces.Allofthe
SubjectPropertiesareencumberedbyaccessorparking
* The above sales did have conditions or restrictions associated with the sales which will be discussed in this report.
easements.
JS25-071 Land Sales Chart
Page 111 of 275
Agenda Item #3.
43
SALES COMPARISON SUMMARY AND CONCLUSION
Lot 1
Lot 1 is located at the southwest quadrant of Main Street and the centrally located
traffic circle on Main Street. The site is leveled, cleared and sod covered. The site
has approximately 205 feet of frontage along the north side of Bridge Road and 160
feet of frontage along the west side of Main Street. The parcel contains 51,780
square feet. The site is encumbered by a parking easement which is located along
the west boundary of the site. The easement dedicates an area for 21 parking
spaces for the use of the adjacent parcel to the west (250 Tequesta Drive). We have
estimated dimensions for tcontaining approximately
4,500 square feet (8.7% of the site). This parking easement would restrict
dev
elopment on this site.
Lot 2
Lot 2 is located at the northwest quadrant of Main Street and the centrally located
traffic circle on Main Street. The site is leveled, cleared and has been asphalt paved
with on-site drainage in place. The site has approximately 290 feet of frontage along
the south side of Tequesta Drive and 130 feet of frontage along the west side of
Main Street. The parcel contains 43,050 square feet. The site is encumbered by a
parking easement which dedicates at least 40 parking spaces for the use of 1 Main
Street depending on the uses and parking requirements for 1 Main Street. The
location of the easement within the site is not designated, but will likely encumber
approximately 30% to 40% of the site.
Lot 3
Lot 3 is located at the southeast quadrant of Main Street and the centrally located
traffic circle on Main Street. The site is leveled, cleared and sod covered. The site
has approximately 200 feet of frontage along the north side of Bridge Road and 140
feet of frontage along the east side of Main Street. The parcel contains 44,287
square feet. The site is encumbered by an access easement which is located along
the east boundary of the site and is paved. The easement dedicates a 24 foot wide
portion of the site that runs the length of the eastern boundary or approximately 200
feet. The access easement contains approximately 4,800 square feet (10.8% of the
site) and provides access to the adjacent property to the east. This access
easement would restrict development on this site.
JS25-071 PARRISH & EDWARDS, INC.
Page 112 of 275
Agenda Item #3.
$74.67$63.07$61.53$61.05$65.08
PhysicalOverallPrice /
Zoning /
LAND SALES ADJUSTMENT GRID (Lot 1)
Date AdjLocation /
0%0%$78.60-5%0%5%0%-5%-5%0%0%$54.8520%0%0%0%-5%15%0%0%$64.77-5%0%5%0%-5%-5%0%5%$67.835%0%-10%0%-5%-10%
Mean
Price
$65.70
1$78.602$54.853$64.774$64.60
SALE #SFFinancingof Sale$/SFAccessSizeApprovalsUtilitiesCharacteristicsIndicationSF
JS25-071 Sales Grid
Page 113 of 275
Agenda Item #3.
44
LAND SALES (CONT'D)
A sales search was conducted to locate and analyze sales data and compare it to
the Subject Properties via appropriate units of comparison. The selected sales were
analyzed on a price per square foot of site area basis which is the most commonly
used unit of comparison for similar type properties and best interpreted the available
data. The differences between the sales and Subject Properties will be discussed
and adjustments will be made for these differences. The analysis appears below.
Financing / Conditions of Sale
All of the comparable sales selected were cash to the seller or institutional financing
transactions. Financing concessions were not reported to have impacted the
purchase price of the comparable sales; therefore, no financing adjustments were
made. All of the comparables were
conditions of sale. No adjustments were required.
Date of Sale / Market Conditions
This adjustment is generally required when a significant increase or decrease in
value due to changing market conditions has occurred during the time period of
comparable sale dates to the prevailing market conditions affecting the Subject's
date of valuation. The Comparables range in date of sale from August 2023 to March
2025. All of the Comparables were considered similar in Market Conditions with the
exception of Comparable #4 which closed in August 2023 and was the oldest sale.
Comparable #4 was considered inferior in market conditions and was adjusted
upward for the difference. No other adjustments were considered necessary.
Location/Exposure
The Subject Properties are located along the east and west sides of Main Street
within the Village of Tequesta. Comparables #1 and #3 are located in Delray Beach
and Juno Beach, respectively. Considering the surrounding demographics, quality
of the surrounding development, and exposure, these comparables are considered
superior with downward adjustments made for the difference. Comparables #2 and
#4 are located in Lake Worth Beach and Boynton Beach respectively. The
surrounding demographics are inferior as compared with the Subject with upward
adjustments made for the difference.
JS25-071 PARRISH & EDWARDS, INC.
Page 114 of 275
Agenda Item #3.
5
$62.88$54.8$51.81$50.88$55.10
PhysicalOverallPrice /
Zoning /
LAND SALES ADJUSTMENT GRID (Lot 2)
Date AdjLocation /
0%0%$78.60-5%0%5%0%-20%-20%0%0%$54.8520%0%0%0%-20%0%0%0%$64.77-5%0%5%0%-20%-20%0%5%$67.835%0%-10%0%-20%-25%
Mean
5
Price
$65.70
1$78.602$54.83$64.774$64.60
SALE #SFFinancingof Sale$/SFAccessSizeApprovalsUtilitiesCharacteristicsIndicationSF
JS25-071 Sales Grid
Page 115 of 275
Agenda Item #3.
45
LAND SALES (CONT'D)
Size
The Subject Properties range in size from 43,050 square feet to 51,780 square feet.
The Comparables ranged in size from 30,540 square feet to 190,481 square feet.
Typically, smaller sites sell for more on a per square foot basis than larger sites
based upon the economies of scale concept, all other factors being equal.
Conversely, a larger site would sell for less on a price per square foot basis than a
smaller site. However, a pairing of the sales did not support the need for a size
adjustment within the size range being considered since for residential or multi-
family projects spreading the approval and site development costs over more units
is often more advantageous, and no adjustments were made.
Zoning/Land Use/Approvals
The Subject Properties are a land use designation of
MU, Mixed Use that would allow for mixed use - commercial/residential development
up to 18 units per acre. Comparable #1 has a General Commercial zoning
designation in place at time of sale with the buyer taking the property through the
rezoning process to develop 46 townhome units (10.50 units per acre). The General
Commercial zoning designation and the lower density were considered inferior with
an upward adjustment made for the difference. Comparable #2 had a similar mixed
use zoning designation. It allows for a higher density up to 30 units per acre, but the
FAR is only 1.5. Overall, no adjustment was considered necessary. Comparable #3
has a Residential Medium Density zoning designation allowing for up to 12 units per
acre. The zoning density is considered inferior with an upward adjustment made for
the difference. Comparable #4 had an Infill Planned Unit Development zoning with
in place approvals for the development of 18 townhome units but the zoning and
land use designation would allow up to 20 units per acre. The in place approvals
were considered superior as compared with the Subject with a downward
adjustment made for the difference.
Utilities
The Subject Properties have water and sewer available. All of the Comparables had
water and sewer available and are considered similar.
JS25-071 PARRISH & EDWARDS, INC.
Page 116 of 275
Agenda Item #3.
$74.67$63.07$61.53$61.05$65.08
PhysicalOverallPrice /
Zoning /
LAND SALES ADJUSTMENT GRID (Lot 3)
Date AdjLocation /
0%0%$78.60-5%0%5%0%-5%-5%0%0%$54.8520%0%0%0%-5%15%0%0%$64.77-5%0%5%0%-5%-5%0%5%$67.835%0%-10%0%-5%-10%
Mean
Price
$65.70
1$78.602$54.853$64.774$64.60
SALE #SFFinancingof Sale$/SFAccessSizeApprovalsUtilitiesCharacteristicsIndicationSF
JS25-071 Sales Grid
Page 117 of 275
Agenda Item #3.
46
LAND SALES (CONT'D)
Physical Characteristics
The Subject Properties #1 and #3 are vacant and cleared sites with sod covering.
Comparable #2 is currently utilized as a parking lot and is asphalt paved with 53
lined parking spaces and on site drainage catch basins. As previously discussed,
all three of the parcels are encumbered by parking or access easements (See
Easements and Encroachments located on Page 29). Lot #1 is encumbered by a
parking easement while none of the comparables were. All of the comparable sales
were considered superior. Downward adjustments were made to all the comparable
sales for superior physical characteristics. Comparable #2 is heavily impacted by a
parking easement. All of the comparable sales were considered superior in this
regard with larger downward adjustments made for the difference. Lot #3 is
encumbered by a 24-foot access easement. All of the comparable sales were
considered superior since they were not encumbered like the Subject. Downward
adjustments were made to all the comparable sale for this difference,
but consideration was given to the fact that the easement areas still would have
some benefit to the owner since these areas could be used for density calculations
and to potentially meet set back requirements.
CONCLUSION
Lot #1: After adjustments, the Comparables ranged on a price per square foot basis
from $61.05 to $74.67 per square foot with a mean of $65.08 per square foot and a
median of $62.30 per square foot. Giving weight to all of the Comparables and
considering the mean and the median, a conclusion of $64.00 per square foot is
considered reasonable and supportable. Therefore, our opinion of the fee simple
market value of Subject Property #1, as of August 19, 2025, is as follows:
51,780 SF x $64.00 SF = $3,313,920 / $3,310,000 Rounded
Lot #2: After adjustments, the Comparables ranged on a price per square foot basis
from $50.88 to $62.88 per square foot with a mean of $55.10 per square foot and a
median of $53.33 per square foot. Giving weight to all of the Comparables and
considering the mean and the median, a conclusion of $54.00 per square foot is
considered reasonable and supportable. Therefore, our opinion of the fee simple
market value of Subject Property #2, as of August 19, 2025, is as follows:
43,050 SF x $54.00 SF = $2,324,700 / $2,320,000 Rounded
Lot #3: After adjustments, the Comparables ranged on a price per square foot basis
from $61.05 to $74.67 per square foot with a mean of $65.08 per square foot and a
median of $62.30 per square foot. Giving weight to all of the Comparables
Comparables and considering the mean and the median, a conclusion of $64.00 per
square foot is considered reasonable and supportable. Therefore, our opinion of the
fee simple market value of Subject Property #3, as of August 19, 2025, is as follows:
44,287 SF x $64.00 SF = $2,834,368 / $2,830,000 Rounded
JS25-071 PARRISH & EDWARDS, INC.
Page 118 of 275
Agenda Item #3.
47
SUBJECT PROPERTIES VALUATION AS A WHOLE
The Subject Properties combined total 139,177 square feet or 3.195-acres. Lot #1
and Lot #2 are contiguous parcel. Lot #3 is adjacent to Lot #1 but is located along
the east side of Main Street which runs north/south between Tequesta Drive to the
north and Bridge Road to the south. Considering the proximity of the lots to each
other and their current access, the sites could be developed with a single project.
Any development would need to address the access and parking easements that
we have previously discussed as well as Main Street which would bi-sect the
development. The combined site may be more cost effective to develop and may
provide some opportunity to relocate some of the easements to different areas, but
there would still be legal issues to address if the easements are to be relocated and
would require approvals from the adjacent owners that the easements are in favor
of. Any benefit to developing, a larger site and the possibility of relocating the
easements would be offset by the legal issues and uncertainty with relocating these
easements. Therefore, our opinion of the fee simple market value (bulk) of the
combined Subject Properties (Lots #1, #2, and #3), is as follows:
Lot #1 - $3,310,000
Lot #2 - $2,320,000
Lot #3 - $2,830,000
$8,460,000
JS25-071 PARRISH & EDWARDS, INC.
Page 119 of 275
Agenda Item #3.
48
ADDENDA
JS25-071 PARRISH & EDWARDS, INC.
Page 120 of 275
Agenda Item #3.
Page 121 of 275
Agenda Item #3.
Page 122 of 275
Agenda Item #3.
Page 123 of 275
Agenda Item #3.
Page 124 of 275
Agenda Item #3.
Page 125 of 275
Agenda Item #3.
Page 126 of 275
Agenda Item #3.
Page 127 of 275
Agenda Item #3.
Page 128 of 275
Agenda Item #3.
Page 129 of 275
Agenda Item #3.
Page 130 of 275
Agenda Item #3.
Page 131 of 275
Agenda Item #3.
Page 132 of 275
Agenda Item #3.
Page 133 of 275
Agenda Item #3.
Page 134 of 275
Agenda Item #3.
Page 135 of 275
Agenda Item #3.
Page 136 of 275
Agenda Item #3.
Page 137 of 275
Agenda Item #3.
Page 138 of 275
Agenda Item #3.
Page 139 of 275
Agenda Item #3.
Page 140 of 275
Agenda Item #3.
Page 141 of 275
Agenda Item #3.
Page 142 of 275
Agenda Item #3.
Page 143 of 275
Agenda Item #3.
{Ļĭ͵АБЊБЉ͵a
ƒźǣĻķǒƭĻķźƭƷƩźĭƷ͵
(a)Purpose.ThepurposeandintentoftheMUmixedusedistrictistoestablishavillagecenterwhichcreatesa
vital,diversecorefortheprincipleswhichutilizemixedusedevelopmentconceptsandwhichpermita
combinationofusuallyseparateduseswithinaunifieddevelopmentdistrictarea.Naturalfeaturesshouldbe
enhancedandenvironmentalconditionscarefullyassessed.Commercialusesareintendedtobelimitedto
specialtysmallscaleretailsalesandservices,businessservicesandprofessionalservicesprimarilydesigned
toserveresidentialneighborhoodsofthevillage.Orientationtoandcompatibilitywithneighborhoodstobe
servedareessential.Residentialusesareintendedtoencouragetheaccomplishmentofamorecomplete
residentiallivingenvironmentthroughtheapplicationofimaginativeapproachestodevelopmentwhich
establishneighborhoodidentityandcommunityfocus.Itisfurtherthepurposeandintentofthisareato
providelandsforarangeofresidentialusesfromlowerdensitysinglefamilytohigherdensityresidential
uses.Trafficcirculationshouldnotonlyaccommodatevehiculartraffic,butprovidefortheefficient
movementofpedestrianandbicycletraffic.
(b)Applicabilityofdevelopmentregulationstomixedusedevelopment.Althoughmixedusedevelopment
producedincompliancewiththeprovisionsandrequirementsofthissectionandotherregulationsasset
forthanddetailedinthischaptermaydepartfromthestrictapplicationofpropertydevelopmentregulations
expressedinthischapter,suchdevelopmentsaretobeincompliancewiththevillagecomprehensive
developmentplanandplattedofrecordinaccordancewiththeproceduresforapprovalofsubdivisionplats
inchapter66.Themixedusedevelopmentprovisionssetforthinthissectionshallbeutilizedinthereview
ofallfuturedevelopmentproposalsforthespecialplanningareaasidentifiedinPolicy1.12.1ofthefuture
mprehensive
landuseelement,asdesignatedonthefuturelandusemapcontainedinthevillageco
developmentplanandasidentifiedonthevillagecomprehensivezoningmapasdistrictMU.
(c)Conflictswithotherregulations.Whereconflictsexistbetweenthemixedusedistrictspecialregulationsin
thissectionandgeneralzoning,subdivisionandotherapplicableordinanceprovisions,thespecial
regulationsinthissectionshallapply.Whereconflictsexistbetweenthemixedusedistrictspecial
regulationsinthissectionandanoverlaydistrictregulations,theoverlayregulationssupersedethemixed
usezoningdistrictspecialregulations.
(d)Generalrequirementsandspecialregulations.Thefollowinggeneralrequirementsandspecialregulations
shallapplytoplannedmixedusedevelopmentwithinthemixedusedistrict:
(1)Location.Aplannedmixedusedevelopmentispermittedonlyinthespecialplanningdistrictidentified
byPolicy1.12.1ofthefuturelanduseelement,asdesignatedonthefuturelandusemapcontained
withinthevillagecomprehensivedevelopmentplanandasidentifiedonthevillagecomprehensive
zoningmapasdistrictMU.
(2)Configurationofsite.Anytractoflandforwhichaplannedmixedusedevelopmentapplicationismade
shallcontainsufficientwidth,depth,andfrontageonapubliclydedicatedarterialormajorstreetor
appropriateaccesstheretotoadequatelyaccommodateitsproposeduseanddesign.
cludedforpurposeofdevelopmentwithinaplannedmixedusedevelopment
(3)Unityoftitle.Alllandin
shallbeunderunityoftitleofthepetitionerforsuchzoningdesignation,whetherthatpetitionerbean
individual,partnershiporcorporation,oragroupofindividuals,partnershipsorcorporations.The
petitionershallpresentfirmevidenceoftheunityoftitleoftheentireareawithintheproposed
plannedmixedusedevelopmentandshallstateagreementthat,ifheproceedswiththeproposed
development,hewill:
a.Dosoinaccordwiththeofficiallyapprovedsiteplanofthedevelopment,andsuchother
conditionsormodificationsasmaybeattachedtotheapproval.
#±¤ ³¤£ŸʆʂʆʉʂʊʅʇʅʆŸʉʆŸʇʆƠ%34ơ
(Supp.No.39,Update1)
Page1of7
Page 144 of 275
Agenda Item #3.
b.Provideagreements,covenants,contracts,deedrestrictionsorsuretiesacceptabletothevillage
forcompletionoftheundertakinginaccordancewiththeapprovedsiteplanaswellasforthe
continuingoperationandmaintenanceofsuchareas,functions,andfacilitiesasarenottobe
provided,operatedormaintainedatgeneralpublicexpense.
c.Bindhisdevelopmentsuccessorsintitletoanycommitmentsmadeundersubsections(d)(3)a.
andb.ofthissection.
(4)Density.Forthepurposeofthissection,ifdwellingunitsaretobedevelopedaspartofaproposed
dinthemixed
developmentwithinthemixedusedistrict,thetotalnumberofdwellingunitspermitte
usedistrictshallbecomputedonthebasisof18dwellingunitspergrossacreforallresidentialuses,
withthefollowingexceptions:ACLFsshallbecomputedonthebasisof18dwellingunitspergross
acre;andrehabilitationfacilitiesshallbecomputedonthebasisofeightdwellingunitspergrossacre.
(5)Buildingheight.Themaximumbuildingheightallowedshallbefourstoriesor50feetaboveaverage
finishgrade.
(6)Mixofuses.NewdevelopmentandredevelopmentintheMUZoningDistrictshallcomplywiththe
urelanduseelementoftheVillageofTequestaComprehensive
requirementsofTableFLU1ofthefut
Planbyintegratingamixofusessuchthatresidentialusesshallcomprisenolessthan20percentand
nomorethan80percentofthedevelopmentorredevelopment.Thevillagecouncilmayrelaxthis
requirementonacasebycasebasiswhenthedevelopmentorredevelopmentprojectparcel(s)are
toosmalltocomply,orwhenothercircumstancesnecessitatetheneedtoprovideasolelycommercial
orresidentialdevelopmentproject.
(e)Siteplanreview.InadherencetoPolicy1.12.1ofthevillagecomprehensivedevelopmentplanfutureland
useelement,allproposeddevelopmentplansforthemixedusedistrictshallbesubjecttoreviewand
approvalbythevillagecouncil.
(f)Urbandesignprinciples.Thefollowingurbandesignprinciplesshallbeconsideredasguidelinesinall
developmentproposalsofthemixedusedistrict:
(1)Thatmixedusepromoteseconomicandsocialwellbeing.
(2)Thatstreetsservetheneedsofthepedestrianandtheautomobile.
(3)Thatproposedsquaresandplazasprovidecollectiveidentityandaplaceforsocialactivityand
recreation.
(4)Thatpublicbuildings,facilities,andspacesaresymbolsofthecommunityandconveyidentityand
pridethroughtheirarchitecturalclarityandcivicfunctions.
(5)Thatcarefullyplacedbuildingsdelineateanddefinepublicspacesandlotsandblocks.
(6)Thatstreetsaredesignedandactasamenitiestothedevelopmentandasqualitypublicspace.
(g)Urbandesignobjectives.Thefollowingurbandesignobjectivesshallbeconsideredasguidelinesinall
developmentproposalsofthemixedusedistrict:
(1)Tobringmanyoftheactivitiesofdailyliving,includingdwelling,shoppingandotheractivities,within
walkingdistance.
(2)Toreducethenumberandlengthofautomobiletripstorelievetrafficcongestion.
(3)Toprovideinternalvehicularcirculationtorelievetrafficimpactonarterialroads.
(4)Toprovidedefinedpublicspacesandstreetsthatallowthecitizenstoobserveandwatchoverthe
collectivesecurity.
(5)Toprovidesitesforcivicbuildings.
#±¤ ³¤£ŸʆʂʆʉʂʊʅʇʅʆŸʉʆŸʇʆƠ%34ơ
(Supp.No.39,Update1)
Page2of7
Page 145 of 275
Agenda Item #3.
(6)Toprovideflexibilityforthedevelopmentstrategiesthatevolveovertime.
(h)Permitteduses.Permittedusesinthemixedusedistrictareasfollows,exceptasregulatedbytheTequesta
DriveOverlay,theU.S.Highway1Overlay,andtheVillageCenterOverlay:
(1)Singlefamilydwellings.
(2)Twofamilydwellings.
(3)Multiplefamilydwellings.
(4)Smallscaleretailsalesandservice,excludingretailpackageliquors.Amaximum5,000squarefeetof
grossleasableareaisallowedforeachtenantareaorindividuallyownedunit.
tenantarea
(5)Businessservices.Amaximum5,000squarefeetofgrossleasableareaisallowedforeach
orindividuallyownedunit.
(6)Healthcarefacilityormedicalordentaloffice;professionaloffice;professionalservices.Amaximum
5,000squarefeetofgrossleasableareaisallowedforeachtenantareaorindividuallyownedunit.
(7)Personalservices.Amaximum5,000squarefeetofgrossleasableareaisallowedforeachtenantarea
orindividuallyownedunit.
(8)Bakeries.Amaximum5,000squarefeetofgrossleasableareaisallowedforeachtenantareaor
individuallyownedunit.
(9)Recreation/openspace.
(10)Restaurants(includingcarryoutandspecialty),Amaximum5,000squarefeetofgrossleasableareais
allowedforeachtenantareaorindividuallyownedunit.
(11)Placesofassembly(1,500squarefeetorless),subjecttothefollowingconditions:
a.Allpresentationsandeventsshallbeconductedentirelywithinabuilding.
b.Allowedaccessoryusesare:preschoolandschoolfacilities;assemblyhalls,sanctuariesorsimilar
centersorfellowshiphalls;administrativeofficesrelatedtothe
meetingrooms;community
facility;giftshopsformerchandiserelatedtothefacility;playgroundsandathleticfields;and
rectoryorsimilarresidenceforfacilityofficialsoronsitecaretakers,limitedtoonedwellingunit.
(i)Specialexceptionuses.Specialexceptionusesinthemixedusedistrictareasfollows,exceptasregulatedby
theTequestaDriveOverlay,theU.S.Highway1Overlay,andtheVillageCenterOverlay:
(1)Reserved.
(2)Publicbuildingsandfacilities.
(3)Reserved.
(4)Placesofassembly(1,515squarefeetormore),subjecttothefollowingconditions:
beconductedentirelywithinabuilding.
a.Allpresentationsandeventsshall
b.Allowedaccessoryusesare:preschoolandschoolfacilities;assemblyhalls,sanctuariesorsimilar
meetingrooms;communitycentersorfellowshiphalls;administrativeofficesrelatedtothe
facility;giftshopsformerchandiserelatedtothefacility;playgroundsandathleticfields;and
rectoryorsimilarresidenceforfacilityofficialsoronsitecaretakers,limitedtoonedwellingunit.
(5)Schools.
(6)Bedandbreakfast.
(7)Hotel.
#±¤ ³¤£ŸʆʂʆʉʂʊʅʇʅʆŸʉʆŸʇʆƠ%34ơ
(Supp.No.39,Update1)
Page3of7
Page 146 of 275
Agenda Item #3.
(8)Adultcongregatelivingfacility(ACLF)subjecttotheprovisionsofsection78177(d)(4).
(9)Gasolineservicestation(onlyfrontingonU.S.Highway1).
(10)Reserved.
(11)Railwaystation.
(12)Plannedresidentialdevelopment(PRD)(subjecttotheprovisionsofarticleVIIofthischapter).
(13)Plannedcommercialdevelopment(PCD)(subjecttotheprovisionsofarticleVIIIofthischapter).
(14)Permittedusesundersubsections(h)(4),(5),(6),(7),(8)and(10)ofthissectioninexcessof5,000
squarefeet(includinglargescaleretailsalesandservice)whichareinconformitywiththeintentand
integrityofthedistrict.
(15)Restaurants,fastfood,subjecttothefollowingconditions:
a.Eachdriveupwindowstackinglanemustbeclearlydesignedandmarkedsoasnottoconflictor
interferewithothervehicleorpedestriantrafficutilizingthesite.
b.Abypasstrafficlaneshallbeprovidedifaonewaytrafficflowpatternisutilizedintheparkinglot
design.
c.Allrestaurants,fastfood,shallberestrictedtoU.S.Highway1frontage.
d.Aminimum15footlandscapebuffershallbeprovidedatallpublicroadrightsofway,inaddition
thischapter.
totherequirementssetforthinarticleIX,division4of
(16)Rehabilitationfacilities,subjecttothefollowingconditions:
a.Rehabilitationfacilitiesshallbeprohibitedfrombeinglocatedwithinaonehalfmileradiusof
anotherrehabilitationfacility.
b.Ninetypercentofthedwellingunitsshallhaveaminimumof575squarefeet.Theremainingten
percentofthedwellingunitsmayhaveaminimumof500squarefeet.
c.Amaximumof45percentofthedwellingunitsshallbepermittedtohavetwobedrooms.Inno
caseshalladwellingunithavemorethantwobedrooms.Twobedroomdwellingunitsshallhave
aminimumof750squarefeet.
d.Occupantloadforindividualsreceivingtreatmentshallnotexceedthenumberofbedrooms.
Bedroomsandstudiodwellingunitsshallbeforsingleoccupancyonly.Overalldensityfora
rehabilitationfacilityshallnotexceedeightdwellingunitspergrossacre.
e.Dwellingunitsshallbeconfiguredasfollows:
ifprovided,shallhaveaonecombinationbedroom/livingarea/kitchen,anda
1.Studiounits,
privatebathroom.
2.Onebedroomunits,ifprovided,shallhaveoneprivatebedroom,oneprivatebathroom,
privatelivingareasandaprivatekitchen.
3.Twobedroomunits,ifprovided,shallhavetwoprivatebedrooms,twoprivatebathrooms,
commonlivingareasandacommonkitchen.
f.Dwellingunitsshallnothaveseparateindividualmailingaddresses.Rather,therehabilitation
facilityshallmaintainonemasteraddresswhichallresidentsshallresideunderduringtheirstay
attherehabilitationfacility.
#±¤ ³¤£ŸʆʂʆʉʂʊʅʇʅʆŸʉʆŸʇʆƠ%34ơ
(Supp.No.39,Update1)
Page4of7
Page 147 of 275
Agenda Item #3.
g.Rehabilitationfacilitiesmustbeequippedwithacontrolledspace,effectivelyscreenedfrom
publicview,forarrivalsanddeparturesofpatients.Thisspaceshallbelargeenoughto
accommodateanambulancefortransportingpatientsinandoutofthefacility.
h.Rehabilitationfacilitiesshallbesurroundedonallsidesbyafenceorwalllocatedasclosetothe
propertylinesasispractical.Thefenceorwallshallbeaminimumofsixfeetinheightbutmay
beashighastenfeet,measuredfromfinishedgrade,inordertoensureprivacyforboth
rehabilitationfacilitypatientsandforvillageresidents.Thefenceorwallshallbeconstructedin
suchamannerastocomplementandaccentuatetheprincipalstructuresoftherehabilitation
facility.Boththeinteriorandexteriorsidesofthefenceorwallshallbelandscapedinaccordance
withtheprinciplessetforthatsection2284oftheVillageCodeofOrdinances.Ifafence,wallor
hedgeislocatedonacornerlotoradoublefrontagelot,avehicularandpedestrianvisibility
triangleofasizeanddimensionwhichcomplieswithcurrenttrafficengineeringstandardsofthe
AmericanAssociationofStateHighwayandTransportationOfficials(AASHTO)andthecounty
shallbeprovidedinbothdirectionsfromtheintersectionpointofthepropertylines.
i.Therehabilitationfacilityshallincludeabackupgeneratorsystem.Thesystemshallbesizedfor
thebuildingoccupancyloadandhaveafuelsourcesufficienttooperatethefacilityfora
ofsevendays.
minimum
j.Therehabilitationfacilityshallbyseparateagreementguaranteepaymenttotheprimaryfire
rescueproviderforpatientambulancetransportservice.
k.Inconjunctionwiththeapplicationforspecialexceptionuse,therehabilitationfacilityshall
submitasecurityplanthatincludespatientoffsitevisits.Thesecurityplanshallbeapprovedby
thevillagecouncilwithinputfromthechiefofpolice.
l.Reserved.
m.Inconjunctionwiththeapplicationforspecialexceptionuse,thevillagemay,atitsdiscretion,
secureanimpactanalysisstudy,performedbyanindependententity,detailingtheproposed
rehabilitationfacility'sprojectedcommunitywideimpacts.Thisstudy,ifprepared,shall
specificallyaddresstherehabilitationfacility'spotentialeconomicimpacttothevillage,the
creationandcontinuationofjobs,thepotentialimpactonlawenforcementandcriminalactivity,
andthepotentialimpactonthevillage'semergencymedicalresources.Inaddition,thestudy
rehabilitationfacility'simpactonthequalityoflifeforneighboring
shouldaddresstheproposed
propertiesandthevillageasawhole.
n.Inconjunctionwiththeapplicationforabusinesstaxreceiptandtheannualrenewalthereof,a
rehabilitationfacilityshallsubmittothevillage,intheformofaswornaffidavitbythe
rehabilitationfacility'slegalrepresentativewhoisauthorizedtodoso,writtendocumentation
thattherehabilitationfacilityisincompliancewithallrequirementsofthissectionaswellasthe
definitionalrequirementsofsection784.Shouldtherehabilitationfacility'sbusinesstaxreceipt
mayseektoimposeallpenaltiesallowedby
beissuedbaseduponafalseaffidavit,thevillage
law,pursuanttochapter70,articleIIofthevillagecodeofordinances.
o.Shouldtherehabilitationfacilityatanytimeviolateanyoftherequirementsofthissectionorany
ofthedefinitionalrequirementsofsection784,thevillagemayobtainreliefthroughthecode
enforcementspecialmagistrateprocesspursuanttochapter2,articleIVofthevillagecodeof
ordinances.Forpurposesofthecodeenforcementspecialmagistrateprocess,eachdaythatthe
rehabilitationfacilityisfoundtobeinviolationshallbeconsideredaseparateoffense.Inaddition
thecodeenforcementspecialmagistrateprocess,thevillagemayseekanyandallrelief
to
availabletoitbylaworinequity,including,butnotlimitedtoinjunctiverelief,recoveryofmoney
damages,orboth.
#±¤ ³¤£ŸʆʂʆʉʂʊʅʇʅʆŸʉʆŸʇʆƠ%34ơ
(Supp.No.39,Update1)
Page5of7
Page 148 of 275
Agenda Item #3.
(Supp.(m)(l)(k)(j)
(3)(2)(1)thecouncilforth Property(11)(10)(9)(8)(7)(6)(5)(4)(3)(2)(1)Prohibited use(PMUD)Planned(2)(1)Accessory(17)
No.
regulations
district
39,
in
method Drainage b.a.Right minimumstreetto705,The Parking permittedAnyKennelsAutomobileFleaFullPawnshop.MotorMotel.CarwashWarehouses.Wholesale.official.clubhouses,PrivateAnyShopping
Update
may
this
meetreview
mixed
development
minimum
service
otheraccessory
uses.
markets,
and
uses.
except
MinorMajor
2.1.of
subsection.
frontage
modify
vehicle
garages,
requirements.
or
utilized
a
1)
way
(that
may
use
of
and
center.
processAccessory
required
portion
use
The
use,
veterinary
OneTwofuel
streets repair
utility
street
street
for
width.
development
indoor
include
standardsthe
number
or
dealer.is
use
following
special
areas
station/gasoline
within
the
swimming
not
way
way standards.
structure
property
ofis
However,
customarily
buildings,
establishments,
(collector):
(collector):
parking
and
developmentrequired
The
uses
an
the
or
street:
street:
of
aoffices.
On
exception
of
the
combinationaccessory
outdoor.
rights
the
are
minimumuses
required
allowed
required
street
not
MU
review
pools,
requirements.
development
Property
property
complied
as
42
50
gazebos,
for
are
50
of
specificallyincidental
part
district.
feet.
feet.
and
all
service
use
way.
feet.
prohibited
parkinguse).spas
in
or
process
parking
width
including
permitted,
of
the
of
re
offor
development
may
and
with
the
Raised
and
Alternateon
development
accessory
mixed
station
street
Page
of
standards,
to
for
be
or required.
review
any
spaces
street
hot
in
rights
a
in
garages
by
included
a
curbthe
permitted
6
other
the
special
proposed
parkingtubs,use
of
reasonable(not
and
drainage
development
and
7
to
use.
of
and
mixed
standardsdistrict
Use
at
besimilar
frontingcabanas
way
and
offof
approval
exception,
in
its
gutter
shall
provided
lotsof
use.
the
street
project,
body
within
discretion,use
systemsare
the
implication
use
be
or
total
U.S.
and
for
drainagedistrict:
as
planned
shops.
parcels
allowedprocess
of
spaces.
deemed
the
the
follows:
shall
and
only
saunas,
Highway
calculationsthe
shall
MU
provided
mixed
accessory
mixed
thosebe
of
systems
permitted
Whenmixed
by
within
be
district
appropriate
determinedless
greenhouses,
the
1).
approved
use
#±¤ ³¤£Ÿ
spaces
use
than
using
use
forthe
village,
the
shall
district
uses
is
district.
meeting
in
as
spirit
development
mixed
three
ʆʂʆʉ
that
on
this
be
follows:
within
by
at
from
the
street
ʂʊ
shall
tennis
the
and
the
the
lie
section
acres.
use
ʅʇ
village
the
section
within
preferred
the
building
discretion
ʅʆŸʉʆŸʇʆ
intent
be
district.
parking
courts,
Page 149 of 275
as
mixed
as
the
set
of
78
a
Ơ%34ơ
Agenda Item #3.
ofthevillagecouncilduringthesiteplanreviewprocessforaproposedplannedmixeduse
development(PMUD).
(4)Scheduleofsiteregulations.SiteregulationsintheMUdistrictareasfollows:
a.Minimumlotsize3,200squarefeet
b.Minimumlotwidth40feet
c.Maximumlotcoverage:
Residential62%
Commercial:
Forasingleminimumsizedlot60%
Fortwoormorelotsorparcelsinexcessoftheminimumsizedlotunder70%
unityoftitle
d.Minimumfrontyardsetback:
Residential10feet
Commercial0feet
e.Minimumsideyardsetback:
Residential:
Ononeside0feet
Onremainingside7feet
Commercial:
Onbothsideswherecommercialabutscommercial0feet
Wherecommercialabutsresidential7feet
f.Minimumrearyardsetback:
Residential10feet
Commercial:
Wherecommercialabutscommercial0feet
Wherecommercialabutsresidential10feet
g.MinimumlivingarearequirementsNotapplicable
h.Minimumlandscaped/openspace:
Residential25%
Commercial25%
(5)Landscapingrequirements.OffstreetparkingfacilitiesandallpropertieswithintheMUdistrictshallbe
landscapedinaccordancewitharticleIX,division4ofthischapter.
(6)Signs.Allwall,freestanding,monument,ceilingmountedwalkway,projectidentification,composite,
changeableletterandsimilarsignsand/orsignageshallbeinkeepingwiththepurposeandintentof
themixedusedistrictandshallbesubjecttoreviewandapprovalbythevillage.Sections78731,78
733,78734,78735,78736,78737,and78738shallapplywithintheMUmixedusedistrict.
(Ord.No.1414,§1,1092014;Ord.No.1116,§1,10312016;Ord.No.119,§2,3142019;Ord.No.0321,§5,
3112021;Ord.No.0124,§3,10162024)
#±¤ ³¤£ŸʆʂʆʉʂʊʅʇʅʆŸʉʆŸʇʆƠ%34ơ
(Supp.No.39,Update1)
Page7of7
Page 150 of 275
Agenda Item #3.
5.The Appraiser may not divulge t4.Neither all, nor any part of, the cont3.Possession of this report or any c2.Unless otherwise stated, the value 1.This is an appraisal report, which
is
subpoena.for ethics enforcement or by a courbe required by the Appraisal Institute orother than the client or his designee, as specified in writing, except as mayanalytical findings,
or conclusions, or designations.communications to the Appraisal Edwards, Inc.; nor may any reference be made in such publicmedia without written consent and approval of an officer of
Parrish &the public through advertising, public relaits entirety.an officer of the appraisal firm of Parrishthe party to whom it is addressed, orused for any purpose by any person or
coclient, the fee being for the analytical services only. The report may not bephysical report(s) remain the property right of publication, nor conditions.conditions and, consequently,
will vary with future changes in suchSPECIFIED. Values of real estateour opinion of the Market Value ofnot responsible for unauthorized use if this report.client and for the intended
use stated withidepth of discussion contained insummarized in this report and/or retadocumentation concerning the data, reasoning and analyses isappraisal process to develop the appraidiscussions
of the data, reasoning and of Professional Appraisal Practicerequirements set forth under Standard Ru
ASSUMPTIONS AND LIMITING CONDITIONS
may it be used for other
this report is specific to the needs of the
ents of this report shall be conveyed to the value defined AS OF THE DATE
opy thereof does not carry with it the
appearing in this a
intended to comply
he material content
are affected by national and local
copied without the written consent of
. As such, it presents summary
t of law or body with the power of
give a copy of the report to anyone
Institute or the MAI/SRA/SRPA
of the Appraiser for the use of the
as they may request in confidence
ined in the appraiser’s file. The
ser’s opinion of value. Supporting
& Edwards, Inc., and then only in
tions efforts, news sales, or other
analyses that were used in the
rporation other t
le 2-2 of the
n this report. The appraiser is
than its intended use. The
ppraisal represents
Uniform Standards
with the reporting
s of the report,
han the client or
Page 151 of 275
Agenda Item #3.
ASSUMPTIONS AND LIMITING CONDITIONS (CONT'D)
6.Analyses, opinions, and conclusions were developed, and this report has
been prepared, in conformity with the requirements of the Code of
Professional Ethics and Standards of Professional Practice of the
Appraisal Institute.
7.This appraisal is to be used only in its entirety and no part is to be used
without the whole report. All conclusions and opinions concerning the
analysis which are set forth were prepared by the Appraiser(s) whose
signature(s) appear on the appraisal report, unless indicated as Review
Appraiser. No change of any item in the report shall be made by anyone
other than the Appraiser, and the Appraiser and the firm shall have no
responsibility if any such unauthorized change is made.
8.No responsibility is assumed for matters legal in character or nature, nor
matters of survey, nor of any architectural, structural, mechanical, or
engineering nature. No opinion is rendered as to the title which is
presumed to be good and merchantable. The property is appraised as if
free and clear, 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, his designee, or public records. We are not liable
for such information or the work of possible subcontractors. The
comparable data relied upon in this report has been confirmed with one or
more parties familiar with the transaction or from affidavit. All are
considered appropriate for inclusion to the best of our factual judgment
and knowledge.
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 engage in post-appraisal consultation with
client or third parties, except under separate and special arrangement and
at an additional fee.
Page 152 of 275
Agenda Item #3.
16.This appraisal expresses our opini15.The market value estimated and the cost used are as of the date of the14.No environmental or impact studies,13.The distribution of the total valuation
of this report between land and12.It is assumed that there are no11.The sketches and maps in this report ASSUMPTIONS AND LIMITING CONDITIONS (CONT'D)
rendered and not for the time svalue or conclusion. The fee for this appraisal was in no way contingent upon the reporting of a predeterminedand price of the dollar as of testimate of
value. All dollar amounts are based on the purchasing powerhim.analysis of previous study or analvalues, estimates, or conclusions upon any subsequent such study oralter, amend, revise,
or rescind any ofservices or in the report. The Apprairequested or made unless otherwise highest and best use analysis study, or feasibility study has beeninvalid if so used.conjunction
with any otherseparate valuations for land and buiimprovements applies only was provided.which might be required to discover tAppraiser assumes no responsibility for property, subsoil,
or structures whicthe property in other than actual stany, are included for the same purpose and are not intended to representvisualizing the property and are not necessarily to scale.
Various photos, if
appraisal, no matterunder the existing program
he date of the value estimate.
pent on the physical report.
hidden or unapparent conditions of the
atus, as of the date of the photos.
ysis, subsequently becoming known to
h made it more or le
special market studies or analyses,
on and employment to make this
hese facts. No topographical survey
appraisal or study is for the service
ser reserves the unlimited right to
are included to assist the reader in
the statements, findings, opinions,
such conditions or
lding must not be used in the
specified in an
how similar, and are
of utilization. The
ss valuable. The
the engineering
agreement for
Page 153 of 275
Agenda Item #3.
ASSUMPTIONS AND LIMITING CONDITIONS (CONT'D)
17.The value estimate in this appraisal report is gross without consideration
given to any encumbrance, restriction, or questions 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, national origin of the
present owners, or occupants of the properties in the vicinity of the
property appraised.
18.In this appraisal assignment, the existence of potentially hazardous
material used in the construction or maintenance of the building, such as
the presence of urea formaldehyde foam insulation, and/or the existence
of toxic waste, which may or may not be present on the property, has not
been considered. The Appraiser is not qualified to detect such
substances. We urge the client to retain an expert in this field, if desired.
Unless otherwise stated in this report, the existence of hazardous
substances, including without limitation asbestos, polychlorinated
biphenyls, petroleum leakage, or agricultural chemicals, which may or may
not be present on the property, or other environmental conditions, were
not called to the attention of nor did the Appraiser become aware of such
during the Appraiser's inspection. The Appraiser has no knowledge of the
existence of such materials on or in the property unless otherwise stated.
The Appraiser, however, is not qualified to test such substances or
conditions. The presence of such substances such as asbestos, urea
formaldehyde foam insulation, or other hazardous substances or
environmental conditions may affect the value of the property. The value
estimate is predicated on the assumption that there is no such condition
on or in the property or in such proximity thereto that it would cause a loss
in value. No responsibility is assumed for any such conditions, nor for any
expertise or engineering knowledge required to discover them. The client
is urged to retain an expert in the field of environmental impacts upon real
estate, if so desired.
Page 154 of 275
Agenda Item #3.
ASSUMPTIONS AND LIMITING CONDITIONS (CONT'D)
19.The Americans with Disabilities Act (ADA) became effective January 26,
1992. The appraiser has not made a specific compliance survey and
analysis of this property to determine whether or not it is in conformity with
the various detailed requirements of the ADA. It is possible that a
compliance survey of the property together with a detailed analysis of the
requirements of the ADA could reveal that the property is not in
compliance with one or more of the requirements of the act. If so, this fact
could have a negative effect upon the value of the property. Since the
appraiser has no direct evidence relating to this issue, possible
noncompliance with the requirements of ADA was not considered in
estimating the value of the property.
20.ACCEPTANCE OF, AND/OR USE OF, THIS APPRAISAL REPORT
CONSTITUTES ACCEPTANCE OF THE PRECEDING CONDITIONS.
Page 155 of 275
Agenda Item #3.
QUALIFICATIONS
STATE CERTIFIED GENERAL REAL ESTATE APPRAISER #RZ1303
PERSONAL
Born in Rome, GA. Resident of Palm Beach County, Florida for over 40 years.
EDUCATION
University of Florida - 1980-1985
B.S. Degree in Chemical Engineering
University of Texas at Austin - 1987-1989
Administration (MBA) with a concentration in real estate.
PROFESSIONAL AFFILIATIONS
Member - The Appraisal Institute, MAI Member No. 10,815 (1995)
PROFESSIONAL SERVICE
Served as a Special Master to oversee Tax Appeals for Palm Beach County.
Qualified as an Expert Witness in Palm Beach County Circuit Court.
GEOGRAPHIC LOCATIONS FOR ASSIGNMENTS COMPLETED
Florida Virginia Pennsylvania
Wisconsin Texas Connecticut
WORK EXPERIENCE
Parrish & Edwards, Inc. - Partner, January, 1997 to Present
Commercial Appraiser, August 1989 to January, 1997
Golf Investment Advisors, Inc. - Principal, October 1998 to June 2001
Bailey Controls Company, Houston, TX - Acting District Service Manager 1986-1987
Service Engineer 1985-1986
TYPES OF PROPERTY APPRAISED
Adult Congregate Living Facilities (ACLF) Office Buildings
Apartment Complexes Permanent Easements
Community Shopping Centers Residential Projects
Distribution Warehouses Restaurants
Golf Courses R/W Acquisitions
Hotels/Motels Service Stations
Manufacturing Plants Single Family Residences
Marina Special Purpose Properties
Mini-Storage Facilities Vacant Acreage: Commercial & Residential
Multi-Family Up to 4 Units Vacant Lots
Neighborhood Shopping Centers Wetlands
TYPES OF VALUATION/CONSULTATION SERVICES PERFORMED
Appraisals Leasehold & Lease Fee Valuations
Condemnations Market Studies
Feasibility Reproduction/Replacement Cost Estimates
Highest & Best Use Studies
Page 156 of 275
Agenda Item #3.
PROFESSIONAL COURSES / SEMINARS (MOST RECENT)
FL Appraisal Laws and Regulations, December 2023
FL National USPAP, December 2023
ical Markets and Cycles, December 2023
The Income Approach: An Overview, December 2023
The Sales Comparison Approach, December 2023
Appraisal of Owner Occupied Commercial Properties, January 2021
Appraising Small Apartment Buildings, January 2021
Online Business Practices and Ethics, January 2021
The Cost Approach, January 2021
Commercial Land Valuation, January 2021
Intro to Expert Witness Testimony, December 2020
Uniform Appraisal Standards-Federal Land Acquisitions (Yellow Book), Dec., 2020
Commercial Land Valuation, November 2020
Online Business Practices and Ethics, February 2020
FL National USPAP, February 2020
Real Estate for Sales Associate, January 2020
Managing Appraiser Liability, December 2019
The Income Approach: An Overview, November 2019
The Cost Approach, November 2019
Florida Appraisal Law, June 2018
FL National USPAP, June 2018
Appraisal of Owner Occupied Commercial Properties, December 2017
Appraising Small Apartment Properties, December 2017
Appraisal of Land Subject to Ground Leases, January 2017
FL National USPAP, October 2015
Appraisal Law and Regulations, September 2015
Appraisal of self Storage Facilities, May 2015
Essential Elements/Disclosures/Disclaimers, May 2015
Appraisal of Assisted Living Facilities, May 2015
Online Business Practices and Ethics, May 2015
Online Analyzing Operating Expense, January, 2014
The Cost Approach, January, 2014
The Dirty Dozen, January 2014
Appraisal Application of Regression Analysis, October, 2013
FL Appraisal Laws and Regulations, September 2013
FL National USPAP, September 2013
Using your HP12C Financial Calculator, October 2012
Florida Appraisal Laws and Rules October 2012
FL National USPAP, January 2012
Appraisal/Analysis Income Properties, December 2011
Ad Valorem Tax Consultation, December 2010
Appraisal/Analysis Office Buildings for Mtg. Underwriting, December 2010
FL National USPAP, November 2010
Florida Appraisal Laws and Regulations February 2010
Feasibility, Market Value, Investment Timing: Option Value January 2010
Cost Approach January 2010
Florida Supervisor/Trainee Roles and Relationships January 2010
Income Capitalization January 2010
Online Analyzing Operating Expenses January 2010
Page 157 of 275
Agenda Item #3.
QUALIFICATIONS OF APPRAISER
Joseph N. Stair
State Certified General Real Estate Appraiser #RZ2952
Personal
Born in Chicago, Illinois; Resident of Palm Beach County, Florida
since January 1989.
Education
Eastern Illinois University – 1983-1987, Bachelor of Arts Degree
Work Experience
1995-1998 - Owned and Operated - Putter Around III (Golf Club Sales and
Manufacturing)
March 1999 to Present - Commercial Appraiser with the appraisal firm of
Parrish & Edwards, Inc.
Types of Property Appraised
Medical Condos Car Washes
Hotels Feasibility Study
MotelsRestaurants
Daycare Facilities Golf Courses
Office Warehouse Schools
Multi-Tenant Office Buildings Community Centers
Commercial Retail Marinas
Vacant Commercial Land Automobile Dealership
Vacant Residential Land Office/Warehouse Condos
Vacant Civic Land Vacant Agricultural Land
Single Family Residential Gas Stations
Special Purpose Properties Auto Service Stations
Mini Storage Facilities Multi Tenant Residential
Mobile Home Parks
Page 158 of 275
Agenda Item #3.
Professional Courses/Seminars (recent)
National USPAP Update, 2018
Florida Appraisal Law, 2018
The Income Approach: 2018
The Sales Comparison Approach, 2018
Florida Appraisal Law, 2016
FL National USPAP, 2016
The Income Approach: Case Studies for Commercial Appraisals, 2016
National USPAP
Florida Appraisal Law
AB3-Lic. General Appraisal Course
AB2-Lic. Res. Appraisal Course 2
Business Appraisal
AB1-Lic. Res. Appraisal Course 1
Goldcoast Professional School
Page 159 of 275
Agenda Item #3.
Page 160 of 275
Agenda Item #3.
Page 161 of 275
Agenda Item #3.
Page 162 of 275
Agenda Item #3.
Page 163 of 275
Agenda Item #3.
Page 164 of 275
Agenda Item #3.
Page 165 of 275
Agenda Item #3.
Page 166 of 275
Agenda Item #3.
Page 167 of 275
Agenda Item #3.
Page 168 of 275
Agenda Item #3.
Page 169 of 275
Agenda Item #3.
Page 170 of 275
Agenda Item #3.
Page 171 of 275
Agenda Item #3.
Page 172 of 275
Agenda Item #3.
Page 173 of 275
Agenda Item #3.
Page 174 of 275
Agenda Item #3.
Page 175 of 275
Agenda Item #3.
Page 176 of 275
Agenda Item #3.
Page 177 of 275
Agenda Item #3.
Page 178 of 275
Agenda Item #3.
Page 179 of 275
Agenda Item #3.
Page 180 of 275
Agenda Item #3.
Page 181 of 275
Agenda Item #3.
Page 182 of 275
Agenda Item #3.
Page 183 of 275
Agenda Item #3.
Page 184 of 275
Agenda Item #3.
Page 185 of 275
Agenda Item #3.
Page 186 of 275
Agenda Item #3.
Page 187 of 275
Agenda Item #3.
Page 188 of 275
Agenda Item #3.
Page 189 of 275
Agenda Item #3.
Page 190 of 275
Agenda Item #3.
Page 191 of 275
Agenda Item #3.
Page 192 of 275
Agenda Item #3.
Page 193 of 275
Agenda Item #3.
Page 194 of 275
Agenda Item #3.
Page 195 of 275
Agenda Item #3.
Page 196 of 275
Agenda Item #3.
Page 197 of 275
Agenda Item #3.
Page 198 of 275
Agenda Item #3.
Page 199 of 275
Agenda Item #3.
Page 200 of 275
Agenda Item #3.
Page 201 of 275
Agenda Item #3.
Page 202 of 275
Agenda Item #3.
Page 203 of 275
Agenda Item #3.
Page 204 of 275
Agenda Item #3.
Page 205 of 275
Agenda Item #3.
Page 206 of 275
Agenda Item #3.
Page 207 of 275
Agenda Item #3.
Page 208 of 275
Agenda Item #3.
Page 209 of 275
Agenda Item #3.
Page 210 of 275
Agenda Item #3.
Page 211 of 275
Agenda Item #3.
Page 212 of 275
Agenda Item #3.
Page 213 of 275
Agenda Item #3.
Page 214 of 275
Agenda Item #3.
Page 215 of 275
Agenda Item #3.
Page 216 of 275
Agenda Item #3.
Page 217 of 275
Agenda Item #3.
Page 218 of 275
Agenda Item #3.
Page 219 of 275
Agenda Item #3.
Page 220 of 275
Agenda Item #3.
Page 221 of 275
Agenda Item #3.
Page 222 of 275
Agenda Item #3.
Page 223 of 275
Agenda Item #3.
Page 224 of 275
Agenda Item #3.
Page 225 of 275
Agenda Item #3.
Page 226 of 275
Agenda Item #3.
Page 227 of 275
Agenda Item #3.
Page 228 of 275
Agenda Item #3.
Page 229 of 275
Agenda Item #3.
Page 230 of 275
Agenda Item #3.
Page 231 of 275
Agenda Item #3.
Page 232 of 275
Agenda Item #3.
Page 233 of 275
Agenda Item #3.
Page 234 of 275
Agenda Item #3.
Page 235 of 275
Agenda Item #3.
Page 236 of 275
Agenda Item #3.
Page 237 of 275
Agenda Item #3.
Page 238 of 275
Agenda Item #3.
Page 239 of 275
Agenda Item #3.
Page 240 of 275
Agenda Item #3.
Page 241 of 275
Agenda Item #3.
Page 242 of 275
Agenda Item #3.
Page 243 of 275
Agenda Item #3.
Page 244 of 275
Agenda Item #3.
Page 245 of 275
Agenda Item #3.
Page 246 of 275
Agenda Item #3.
Page 247 of 275
Agenda Item #3.
Page 248 of 275
Agenda Item #3.
Page 249 of 275
Agenda Item #3.
Page 250 of 275
Agenda Item #3.
Page 251 of 275
Agenda Item #3.
Page 252 of 275
Agenda Item #3.
Page 253 of 275
Agenda Item #3.
Page 254 of 275
Agenda Item #3.
Page 255 of 275
Agenda Item #3.
Page 256 of 275
Agenda Item #3.
Page 257 of 275
Agenda Item #3.
Page 258 of 275
Agenda Item #3.
Page 259 of 275
Agenda Item #3.
Page 260 of 275
Agenda Item #3.
Page 261 of 275
Agenda Item #3.
Page 262 of 275
Agenda Item #3.
Page 263 of 275
Agenda Item #3.
Page 264 of 275
Agenda Item #3.
Page 265 of 275
Agenda Item #3.
Page 266 of 275
Agenda Item #3.
Page 267 of 275
Agenda Item #3.
Page 268 of 275
Agenda Item #3.
Page 269 of 275
Agenda Item #3.
Page 270 of 275
Agenda Item #3.
Page 271 of 275
Agenda Item #3.
Page 272 of 275