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HomeMy WebLinkAbout09-27-2023 CRA Agenda7. RECESS CITY COUNCIL MEETING AND CONVENE AS COMMUNITY _ REDEVELOPMENT AGENCY pgs 8-11 A. Approval of Minutes — June 28, 2023 CRA Meeting pgs 12-1 S B. Consider Resolution No. R-24-01 Adopting the Riverfront Community Redevelopment Agency (CRA) Budget for the Fiscal Year 2023-2024 (Transmittal, R-24-01, Ex. A) A RESOLUTION OF THE CITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY (CRA) ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2023 AND ENDING SEPTEMBER 30, 2024; MAKING FINDINGS; AUTHORIZING AMENDMENT AND TRANSFERS; PROVIDING FOR CONFLICTS; PROVIDING FOR SCRIVENER'S ERRORS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. pgs 16-57 C. Consideration of a Motion Making a Recommendation to the City Council on How to Best Pursue the Redevelopment of the Harbor Lights Property (Transmittal, F.S.163.380, Master Plan Excerpt, RFP) pgs 58- 223 D. Request for Proposal (RFP#23-11) for the Sale and Redevelopment of City - Owned Property and Provision of a Mixed -Use Development Located at 100 Veterans Memorial Highway, Sebastian, Florida Situated in the Community Redevelopment Area (Transmittal, RFP#23-11, Response, Appraisal, Master Plan Excerpt) 8. ADJOURN COMMUNITY REDEVELOPMENT AGENCY MEETING AND RECONVENE AS CITY COUNCIL 9. PUBLIC HEARING A. Final Hearing on Millage for Calendar Year 2023 and FY 2023/2024 Budget ii. Attorney advises Council on Procedure for Millage/Budget Hearing and Reads Titles for Resolutions R-23-xx and R-23-xx iii. Budget Overview (Budget Document Available at https://weblink.cityofsebastian.orgAVebLink/DoeV iew.aspx?id=273286) iv. Mayor Opens Hearing for Public Comment on the Millage and Budget V. Mayor Closes Public Hearing vi. City Council Deliberation and Action: pgs 224-225 a) Adopt Resolution No. R-23-24 Millage Rate for Calendar Year 2023 (Transmittal, R-23-24) My Cy SEBAS AN HOME OF PELICAN ISLAND COMMUNITY REDEVELOPMENT AGENCY 1225 Main Street, Sebastian, FL 32958 The attached June 28, 2023 Community Redevelopment Agency minutes were approved at the September 27, 2023 Community Redevelopment Agency meeting. Chairman Fred Jones ATTEST: Jeanette Williams, City Clerk Regular City Council & CRA Meeting June 28, 2023 Page 2 Grace Reed, Sebastian, thanked Council for making the decision to run for Council which takes time away from their personal lives. During the past few months, she has determined it is a thankless job with little compensation. She said there are some who are quick to ridicule, defame or threaten their next vote but they don't appear willing to run to take on the task of representing the people. She said in November she will make her decision based on what Council has shown her and how they treat the public and interact with their peers. Ron Mather, Sebastian, said now that people are comfortable not wearing masks, he thought if Council Members were not present at the meetings, their vote should not count; it should go back to the way it was. Vice Mayor Nunn advised the voting precedence is based on state law and the City's Charter and ordinances. They could look at it in a future Charter review but it wasn't something they could just change. Mr. Mather said he contacted Waste Management to see who owns the newly distributed carts and was advised that Waste Management does. He asked if there is a hurricane, why would he want to take care of Waste Management's property. He asked who is liable for it blowing around in the street. Mayor Jones advised that was a legal question for Waste Management. 8. Mayor Jones recessed the City Council meeting at 6:09 p.m. and convened the Community Redevelopment Agency meeting. A. Approval of Minutes — September 30, 2022 CRA Meeting B. Aonroval of Minutes — Anril 26. 2023 CRA Meetin$ MOTION by Mr. Dodd and SECOND by Mr. McPartlan to approve the CRA minutes for the September 30, 2022 and April 26, 2023 meetings. Roll call: Vice Chairman Nunn -aye Ms. Dixon - aye Mr. Dodd - aye Mr. McPartlan - aye Chairman Jones - aye Motion carried. 5-0 C. Annrove the Sebastian CRA Sustainable Economic Redevelopment Master Plan 2023 (Transmittal, Plan) The Administrative Services Director advised the consultants who were employed to develop the master plan were present and ready to make a presentation. Regular City Council & CRA Meeting June 28, 2023 Page 3 Laura Smith, Urban Analytics Manager, GAI Consultants, Inc. introduced herself and said some benefits of this update were the identification of items that needed to be taken out of the CRA Trust Fund and placed in the City's budget; an inconsistency in the County's contribution that will benefit the City going forward; and a reminder that the CRA will sunset in 10 more years. Natalie Frazier, Senior Analyst, GAI Consultants, Inc. displayed a PowerPoint presentation outlining the process of updating the plan and some of the findings. (See attached) She said GAI recommends evaluating the projects and programs that will remain active within five years of this update to see if extending the agency is necessary; adopting a formal definition of "old fishing village;" developing a formal style guide to provide design criteria to prevent delays in developing and redeveloping the existing structures; modifying each overlay district to adopt the fishing village and style guide; and prioritizing the opportunity sites identified in the plan. Mr. Dodd asked if they should prioritize the five catalysts sites and go forward. The CRA Manager said two sites are currently out for RFP and she is hopeful that Council will be comfortable with what will be proposed to give the City the economic boost they are looking for. There are grant dollars and plans to expand the Working Waterfront area as well as a design to expand the Riverview Park area recommended by 2018 GAI Mr. Dodd asked if separate action was needed to develop Catalyst Site 5 noting developing parks was the number one priority of a recent citizen's survey. The CRA Manager advised there is funding available to move forward with a design for Harrison Street and the overflow parking area. In the next year there is construction money. Ann Gallop, Sebastian, said she had the opportunity to look through the plan and noted it sounds like it is to be a 15-Minute City which is a global agenda affecting rights and freedom which she hopes Sebastian isn't walking into. Llisa Boisvert said she understood that the City didn't pay for the plan and asked who was the benefactor? She said China has some 15-minutes cities and asked if they wanted their privacy invaded. She asked Council to research this before voting on the plan. She said there will be more litigation if this passes. Louise Kautenburg, Sebastian, commended Ms. Boisvert's suggestion that they should all do more research including her as many have missed the material provided where she would have seen the funding doesn't come from the City; the company drafted the plan at the direction of the City; and the aspirations are in balance with what the community asked for in the public meetings. She explained the County takes taxes from all of properties in the CRA and returns those monies back to the CRA as opposed to being thrown into the big bucket so that a majority of the citizens will benefit from the improvements. Vice Chairman Nunn stated the CRA district was founded in 1995 to help redevelop the riverfront area to provide a better community for the citizens. He said the plan did not Regular City Council & CRA Meeting June 28, 2023 Page 4 include anything about cameras, controlling the citizens or hampering their life --only to make it better for the City on the riverfront. Mr. Dodd said he agreed with the people concerned about being controlled and reminded them that this Council refused to put cameras in school zones although he doesn't want to see people speeding through school zones. There seems to be confusion in what's talked about as a smart city which is a technology smart city with cameras and monitors. He has never seen anything in any city that is stopping people going from one zone to another except maybe in Moscow. He said there is a concept called a walkable city, where you build mixed use commercial and residential in the same area so those that live there can walk and shop where they live. They are not going to see Sebastian turn into a smart city. He didn't think the plan was tied to conspiracy things that the people talked about. He said the plan was paid for by state taxes and theoretically anything that government gives is paid for by the taxpayers. He said he doesn't want to see every move monitored with active cameras which is why he doesn't live in New York. He said that he was in favor of the plan. MOTION by Mr. Dodd and SECOND by Ms. Dixon to approve the Sustainable Economic Redevelopment Master Plan. Mr. McPartlan said he has seen all of the great things completed since the last CRA update and they should look out for growth. He noted that they are being monitored now by carrying cell phones or credits cards with the chips. He said he hoped they go to 2063 and in that short period things could change; he was in agreement with the plan. Roll call: Ms. Dixon - aye Mr. Dodd - aye Mr. McPartlan - aye Chairman Jones - aye Vice Chairman Nunn - aye Motion carried. 5-0 9. Chairman Jones adjourned the Community Redevelopment Agency meeting at 6:46 p.m. _ and reconvened the City Council meeting. 10. CONSENT AGENDA A. Approval of Minutes — June 14, 2023 Regular City Council Meeting 23.107 B. Approve the Ground Lessor Estoppel and Agreement from Sheltair Sebastian, LLC and Authorize the City Manager to Execute the Related Documents (Transmittal, Ex. A) cffycf SE,TuW HOME OF PELICAN ISLAND RIVERFRONT COMMUNITY REDEVELOPMENT AGENCY AGENDA TRANSMITTAL FORM CRA BOARD MEETING: September 27, 2023 AGENDA ITEM TITLE: Consider Resolution No. R-24-01 Adopting the Riverfront Community Redevelopment Agency (CRA) Budget for the Fiscal Year 2023-2024 RECOMMENDATION: CRA Board Approval of Resolution R-24-01 BACKGROUND: In accordance with Florida Statute 189.418(3), a Community Redevelopment Agency (CRA) "shall adopt a budget by resolution each fiscal year". The Recommended Budget for Fiscal Year 2023-2024, beginning October 1, 2023 and ending September 30, 2024, is included as Exhibit "A' to the Resolution for the CRA Board's consideration. The recommended operating expenditures, grants and aids and transfers for capital projects budget for the CRA is $500,215. The total Tax Increment Funding ("TIF") revenue is projected to be $471,765. Capital expenditures include matching funds on a 50% FIND Grant for design and preparation of bid documents for Working Waterfront Improvements. Funding is also being set aside for future matching funds toward construction of those improvements. The CRA budget is also incorporated in the Annual Budget for the City of Sebastian as a Special Revenue Fund, which is also scheduled for final approval at this meeting. ATTACEMENTS: Resolution R-24-01, including Exhibit "A". IF AGENDA ITEM REOUIRES EXPENDITURE OF FUNDS: Total Cost: $500,215 Fund to Be Utilized for Appropriation: Community Redevelopment Agency Fund Administrative Services Departm City Attorney Review: 41 Procurement Division Review, if City Manager Authorization: Date: ghlhod3 CITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY RESOLUTION NO.24-01 A RESOLUTION OF THE CITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY (CRA) ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2023 AND ENDING SEPTEMBER 30, 2024; MAKING FINDINGS; AUTHORIZING AMENDMENTS AND TRANSFERS; PROVIDING FOR CONFLICTS; PROVIDING FOR SCRIVENER'S ERRORS; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Manager of the City of Sebastian has submitted a Budget for the City of Sebastian Community Redevelopment Agency (CRA) for the Fiscal Year beginning October 1, 2023 and ending September 30, 2024; and WHEREAS, the CRA Budget includes estimated expenditures necessary to carry out the functions of the CRA for the Fiscal Year beginning October 1, 2023, and ending September 30, 2024; and WHEREAS, the CRA Budget includes the estimated revenues to be received by the CRA during said period from all sources, including Tax Increment Funding (TIF); and WHEREAS, the CRA has examined and carefully considered the proposed Budget in a duly assembled meeting. NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BOARD OF CITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY: SECTION 1. RECITALS. The Recitals contained above in the Whereas clauses are hereby ratified as being true and correct; are determined to be the legislative findings of the City of Sebastian Community Redevelopment Agency; and made a specific part of this Resolution. SECTION 2. ADOPTION OF BUDGET. The City of Sebastian Community Redevelopment Agency does hereby adopt, confirm and approve the budget attached hereto as Exhibit "A" as the budget for the CRA for the Fiscal Year beginning October 1, 2023 and ending September 30, 2024. SECTION 3. FINDINGS. The governing board of the CRA does hereby find that: (a) The Budget adopted has been prepared in accordance with generally accepted accounting principles; and (b) The estimated revenues to be received by the CRA during the Fiscal Year beginning October 1, 2023, and ending September 30, 2024 from all sources, including tax increment funds, equals the total of appropriations for expenditures and for reserves during said period; and (c) The Budget will regulate expenditures of the CRA and no expenditures or contracts for expenditures shall be made except in pursuance of budgeted appropriations; (d) The Budget is adopted in accordance with Section 189.418, Florida Statutes. SECTION 4. CITY MANAGER AUTHORIZATIONS — AMENDMENTS. In order to effect an orderly year-end closeout of all financial books and records for the CRA, the City of Sebastian City Manager is hereby authorized and directed to increase the corresponding line item appropriations in the Budget to the extent of those purchase orders which shall have been issued prior to September 30, 2023, but shall not have been filled prior to that date, and is authorized and directed to pay all such purchase orders upon receipt of the goods or services therein specified from the funds so appropriated. The City of Sebastian City Manager is hereby further authorized and directed to increase the budget appropriations to the extent of any unexpended balances from state, federal or other grants as of the end of business on September 30, 2023, and to the extent of any unexpended balances, whether or not encumbered, outstanding in projects or programs as of the end of business on September 30, 2023 and all such balances shall be appropriated to the corresponding accounts in the same funds in which they were outstanding as of September 30, 2023; and the City Manager shall be authorized to expend such appropriations for the purposes approved by the CRA in connection with such state, federal or other grants, and projects. The City Manager shall, prior to December 31, 2023, report all such purchase orders, grants and projects to the CRA. Corresponding changes in the anticipated revenue accounts are thereafter hereby authorized. SECTION 5. CITY MANAGER AUTHORIZATIONS — BUDGET TRANSFERS. The City Manager is hereby authorized and directed to maintain and amend the budget so as to reflect the anticipated revenue and the appropriation of, and expenditure of, all grant funds and bond proceeds committed to, or received by the CRA subsequent to September 30, 2023, and prior to October 1, 2024, in accordance with the directions of the CRA as to the appropriation and expenditure of such grants and bond proceeds as and when received. The City Manager shall have the authority to transfer appropriations from one line item to another line item of the budget, so long as the total appropriations shall not be increased thereby. Transactions affecting total appropriations, other than those authorized herein in other sections shall require the prior approval of the CRA. Any such transactions are subject to any restrictive statutes or ordinances, including those authorizing the issuance of any outstanding bonds. SECTION 6. CONFLICTS. All Resolutions or parts of Resolutions in conflict herewith are hereby repealed. SECTION 7. SCRIVENER'S ERRORS. Sections of this resolution may be renumbered or re -lettered and corrections of typographical errors which do not affect the intent may be authorized by the City Manager, or the City Manager's designee, without need of further action of City Council by filing a corrected copy of same with the City Clerk. SECTION 8. SEVERABILITY. If any clause, section, or other part or application of this Resolution shall be held by any court of competent jurisdiction to be unconstitutional or invalid, such unconstitutional or invalid part or application shall be considered as eliminated and so not affecting the validity of the remaining portions or applications remaining in full force and effect. SECTION 9. EFFECTIVE DATE. This Resolution shall become effective October 1, 2023. The foregoing Resolution was moved for adoption by CRA Board member . The motion was seconded by CRA Board member and, upon being put into a vote, the vote was as follows: Fred Jones, Chairman Ed Dodd Bob McPartlan Christopher Nunn Kelly Dixon The CRA Chairman thereupon declared this Resolution duly passed and adopted on this 27 h day of September, 2023. CITY OF SEBASTIAN, FLORIDA ATTEST: Jeanette Williams, City Clerk an Fred Jones, Chairman Approved as to form and legality for the reliance by the City of Sebastian only: Jennifer Cockcroft, City Attorney a,« SRASTL HOME OF PELICAN ISLAND CRA AGENDA TRANSMITTAL Council Meeting Date: September 27, 2023 Agenda Item Title: Consideration of a motion making a recommendation to the City Council on how to best pursue the redevelopment of the Harbor Lights property. Recommendation: Staff requests action from the CRA Board on a recommendation to the City Council on how to best pursue the redevelopment of the Harbor Lights property. Background: The City of Sebastian requested proposals from qualified real estate developers/investors/operators for the purchase and redevelopment of city -owned property located at 1215 Indian River Drive, Sebastian, FL 32958 (former Harbor Lights Motel). Request for Proposal (RFP #23-08) was issued in accordance with the disposal of real property provisions set forth in Section 163.380, Florida Statutes. On Friday, July 21, 2023 at 2:00 PM EST, all proposals were due to be submitted. No proposals were received. Staff believes the potential development of the property may be compromised by its small size (0.51+/- acres) and the regulatory conditions found in the Riverfront Overlay District. However, the site does offer many opportunities as outlined within the CRA Master Plan and due to the availability of existing infrastructure within Indian River Drive. Options to be considered include: 1. Keep the property and offer only a ground lease to any interested developers. 2. Keep the property and develop public space that compliments the CRA and adjacent public space. 3. Sell the property "as is" to highest bidder with no conditions of development. At this time, the CRA Board should make a recommendation to the City Council on further action regarding the redevelopment of this property, in accordance with Florida Statutes Section 163.380 and Section Four of the Sebastian CRA Redevelopment Master Plan. This agenda item will then be considered by the City Council at its regular Council meeting. If Agenda Item Requires Exuenditure of Funds: Budgeted Amount: NA Total Cost: $0.00 Funds to Be Utilized for Appropriation: NA Attachments: 1. Florida Statutes Section 163.380. 2. Sebastian CRA Redevelopment Master Plan 2022-2023; Applicable content of Section Four, pages 52 — 59. 3. RFP 23-08, Sale of Old Harbor Lights Motel Property Administrative Services Department Review-.-I//^-- City Attorney Review: Procurement Division R ' , if applicable:/l� City Manager Authorization: Date: 9/21#6-23 /a Select Year: 2023 r Go The 2023 Florida Statutes Title X( Chanter 163 View Entire COUNTY ORGANIZATION AND INTERGOVERNMENTAL QMl= INTERGOVERNMENTAL RELATIONS PROGRAMS 163.380 Disposal of property in community redevelopment area. --The disposal of property in a community redevelopment area which is acquired by eminent domain is subject to the limitations set forth in s. 73.013. (1) Any county, municipality, or community redevelopment agency may sell, tease, dispose of, or otherwise transfer real property or any interest therein acquired by it for community redevelopment in a community redevelopment area to any private person, or may retain such property for public use, and may enter into contracts with respect thereto for residential, recreational, commercial, industrial, educational, or other uses, in accordance with the community redevelopment plan, subject to such covenants, conditions, and restrictions, including covenants running with the land, as it deems necessary or desirable to assist in preventing the development or spread of future slums or blighted areas or to otherwise carry out the purposes of this part. However, such sale, lease, other transfer, or retention, and any agreement relating thereto, may be made only after the approval of the community redevelopment plan by the governing body. The purchasers or lessees and their successors and assigns shall be obligated to devote such real property only to the uses specified in the community redevelopment plan and may be obligated to comply with such other requirements as the county, municipality, or community redevelopment agency may determine to be in the public interest, including the obligation to begin any improvements on such real property required by the community redevelopment plan within a reasonable time. (2) Such real property or interest shall be sold, leased, otherwise transferred, or retained at a value determined to be in the public interest for uses in accordance with the community redevelopment plan and in accordance with such reasonable disposal procedures as any county, municipality, or community redevelopment agency may prescribe. in determining the value of real property as being in the public interest for uses in accordance with the community redevelopment plan, the county, municipality, or community redevelopment agency shall take into account and give consideration to the long-term benefits to be achieved by the county, municipality, or community redevelopment agency resulting from incurring short-term losses or costs in the disposal of such real property; the uses provided in such plan; the restrictions upon, and the covenants, conditions, and obligations assumed by, the purchaser or lessee or by the county, municipality, or community redevelopment agency retaining the property; and the objectives of such plan for the prevention of the recurrence of slum or blighted areas. In the event the value of such real property being disposed of is for less than the fair value, such disposition shall require the approval of the governing body, which approval may only be given following a duly noticed public hearing. The county, municipality, or community redevelopment agency may provide in any instrument of conveyance to a private purchaser or lessee that such purchaser or lessee is without power to sell, lease, or otherwise transfer the real property without the prior written consent of the county, municipality, or community redevelopment agency until the purchaser or lessee has completed the construction of any or all improvements which he or she has obligated himself or herself to construct thereon. Real property acquired by the county, municipality, or community redevelopment agency which, in accordance with the provisions of the community redevelopment plan, is to be transferred shall be transferred as rapidly as feasible in the public interest, consistent with the carrying out of the provisions of the community redevelopment plan. Any contract for such transfer and the community redevelopment plan, or such part or parts of such contract or plan as the county, municipality, or community redevelopment agency may determine, may be recorded in the land records of the clerk of the circuit court in such manner as to afford actual or constructive notice thereof. (3)(a) Prior to disposition of any real property or interest therein in a community redevelopment area, any county, municipality, or community redevelopment agency shall give public notice of such disposition by publication In a newspaper having a general circulation in the community, at least 30 days prior to the execution of any contract to sell, lease, or otherwise transfer real property and, prior to the delivery of any instrument of conveyance with respect thereto under the provisions of this section, invite proposals from, and make all pertinent information available to, private redevelopers or any persons interested in undertaking to redevelop or rehabilitate a community redevelopment area or any part thereof. Such notice shall identify the area or portion thereof and shall state that proposals must be made by those interested within 30 days after the date of publication of the notice and that such further information as is available may be obtained at such office as is designated in the notice. The county, municipality, or community redevelopment agency shall consider all such redevelopment or rehabilitation proposals and the financial and legal ability of the persons making such proposals to carry them out; and the county, municipality, or community redevelopment agency may negotiate with any persons for proposals for the purchase, lease, or other transfer of any real property acquired by it in the community redevelopment area. The county, municipality, or community redevelopment agency may accept such proposal as it deems to be in the public interest and in furtherance of the purposes of this part. Except in the case of a governing body acting as the agency, as provided in s. 163.357, a notification of intention to accept such proposal must be filed with the governing body not less than 30 days prior to any such acceptance. Thereafter, the county, municipality, or community redevelopment agency may execute such contract in accordance with the provisions of subsection (1) and deliver deeds, leases, and other instruments and take at[ steps necessary to effectuate such contract. (b) Any county, municipality, or community redevelopment agency that, pursuant to the provisions of this section, has disposed of a real property project with a land area in excess of 20 acres may acquire an expanded area that is immediately adjacent to the original project and less than 35 percent of the land area of the original project, by purchase as provided in this chapter, and negotiate a disposition of such expanded area directly with the person who acquired the original project without complying with the disposition procedures established in paragraph (a), provided the county, municipality, or community redevelopment agency adopts a resolution making the following findings: 1. it is in the public interest to expand such real property project to an immediately adjacent area. 2. The expanded area is less than 35 percent of the land area of the original project. 3. The expanded area is entirely within the boundary of the community redevelopment area. (4) Any county, municipality, or community redevelopment agency may temporarily operate and maintain real property acquired by it in a community redevelopment area for or in connection with a community redevelopment plan pending the disposition of the property as authorized in this part, without regard to the provisions of subsection (1), for such uses and purposes as may be deemed desirable, even though not in conformity with the community redevelopment plan. (5) If any conflict exists between the provisions of this section and s. 159.61, the provisions of this section govern and supersede those of s. 159,61. (6) Notwithstanding any provision of this section, if a community redevelopment area is established by the governing body for the redevelopment of property located on a closed military base within the governing body's boundaries, the procedures for disposition -of real property within that community redevelopment area shall be prescribed by the governing body, and compliance with the other provisions of this section shall not be required prior to the disposal of real property. History.—s. 11, ch. 69-305; s. 9, ch. 77-391; s. 13, ch. 84-356; s. 1, ch. 92-162; s. 906, ch. 95-147; s. 1, ch. 96-254; s. 9, ch. 98-314; S. 12, ch. 2006-11. Copyright 01995-2023 The Florida Legislature • Privacv Statement a Contact Us SEBASTIAN CRA MAJOR THEMES Throughout the formation of this 2023 Sebastian CRA Master Plan, as well as during the public input and workshop sessions, five overarching themes were identified. These themes are to be used as a planning framework for the Agency to help enhance the character of the downtown and to embrace opportunities that exist within the CRA. These major themes include., As INFRASTRUCTURE 6 DRAINAGE A Riverfront Drainage Study performed in 2014 identified a list of stormwoter Improvement areas within the Sebastian CRA; these Included drainage improvements to Indian River, "Presidential Street", Coolidge Street, Central Avenue/Davis Street, and the CavCorp parking lot. These stormwater facility Improvements were completed in 2017 through the Installation of baffle boxes at major outfall locations. In addition, the Agency continues plans to address other infrastructure needs relative to septic -to -sewer conversion within the redevelopment area. The stormwater facilities and water/sewer utility Infrastructure may require upgrades within the CRA, especially when anticipating new demand driven by residential, commercial, and mixed -use development. WATERFRONT, PARKS, S PUBLIC SPACES Y The CRA closely identifies with Its waterfront, occupying over 47% of Its total acreage. The Agency has prioritized access and preservation of Its waterfront, as it is vital to the area's economic success. The CRA's community continues to support these preservation efforts, subsequently preserving and enhancing the City's history as a fishing village, contribute to the desired design theme, and make use of the waterfront resource to maximize economic development. Open space enhancement projects along the water and restoring waterfront properties for new uses were contemplated within the 2010 Sebastian CRA Master Plan and have been continued within this 2023 Sebastian CRA Master Plan. In 2018, the consensus of community members and key stakeholders was to focus on river views and access, a waterfront pedestrian experience, and open public spaces. Specifically, the "Working Waterfront' initiative has been a high priority of the City and the Agency to promote economic revitalization along the Indian River coast. Subsequently, these efforts have continued to bring activity and regeneration to the Sebastian shoreline. In addition, enhancing the existing Riverview Park is a prime example of the potential for park revitalization and economic activity in the surrounding vicinity. A Riverview Park Master Plan was completed in 2019 to diversify its current uses and implement best management practices moving forward. The Agency seeks to generate more engagement with its open space by creating connectivity between greenspaces through implementation of a pedestrian pathway system, greenway connectors, and bicycle paths that may provide for future recreation enhancement opportunities. The Agency also seeks to enhance its recreational piers, waterfront boat ramp access, and smaller opportunistic waterfront parks, especially within the Park District. g j ROADS, PARKING, 6 PEDESTRIAN 17�IIIR_ CONNECTIVITY IMPROVEMENTS p The CRA community's desire for road and pedestrian connectivity improvements along U.S. Highway 1 and Indian River Drive were significant observations during the public input sessions. The CRA is prioritizing pedestrian connectivity and accessibility In order to link west Sebastian to the waterfront by creating a more pedestrian- and bicycle -friendly streetscape environment and providing visual linkages between the riverfront and U.S. Highway 1. These improvements may include, but not be limited to, boulevard landscaping including street trees and sidewalks, widened sidewalks and curbed dedicated bicycling space along Indian River Drive, flashing pedestrian crosswalks across U.S. Highway 1 towards the riverfront, and safer crosswalk areas along the railroad tracks near the Sebastian Boulevard Triangle Area. In addition, the Land Development Code was updated under Ordinance No.0-10-05 in an effort to encourage public parking use in high -demand/ low -supply areas. The "payment in lieu of parking" program permits the use of City parking areas adjacent to commercial property to satisfy zoning requirements. The Agency envisions increasing public parking in the CRA, and establishing on -street parking and streetscapes adjacent to recreation areas. PUBLIC SAFETY Another observation from the community during the public input session was the desire to enhance public safety throughout the CRA, ensuring that everyone can live and work in a safe environment. In doing so, the Agency could develop a comprehensive public safety initiative that addresses public safety needs of the community. 1 52 1 2023 Sebastian CRA Sustainable Redevelopment Master Plan ARMFIELD-WAGNER APPRAISAL & RESEARCH, INC. PETER D. ARMFIELD, MAI CERT GEN RZ524 DANIEL A. NELSON, CERT GEN RZ897 August 21, 2023 Lisa Leger Frazier, AICP Community Development Director City of Sebastian 1225 Main Street Sebastian, Florida 32958 Dear Lisa: 1940 10TH AVENUE, P.O. BOX 791 VERO BEACH, FLORIDA 32960 TELEPHONE (772) 562-0532 Appraisal #46839 As requested, we have inspected the 3.63 ± acre parcel comprising the former City of Sebastian Public Works facility at 100 Veterans Memorial Way and the adjacent vacant parcel at 190 Sebastian Boulevard, in Sebastian, Florida. This is for the purpose of providing you with our opinion of the Market Value of the fee simple estate of the real property appraised, "As Is," as of August 11, 2023. This Appraisal Report complies with the reporting requirements set forth under Standards Rule 2-2(a) of the 2022-2023 Uniform Standards of Professional Appraisal Practice (USPAP). The property is physically described in the following Appraisal Report, which explains the analysis of data upon which our opinion of value is based. The opinions expressed in this report and the value conclusion reported below are subject to the limiting conditions and extraordinary assumptions on pages 1 - 4. The subject property consists of a partially improved site located along Sebastian Boulevard with main access via Veterans Memorial Way. The main site area contains the former City of Sebastian Maintenance Compound which is presently vacant. The improvements include three warehouse/office type buildings along with paved parking and drive areas, drainage improvements, walkways, perimeter fencing, utility services, etc. This parcel contains approximately 555 +- feet of frontage along the south side of Sebastian Boulevard westbound and 162.55 +- feet along the west side of Veterans Memorial Way. Additionally, a separate tax parcel at 190 Sebastian Boulevard contains around 100 +- feet of frontage along the north side of Sebastian Boulevard eastbound. Total site size of the subject property is indicated at 157,912 +- square feet, or 3.63 +- acres. The subject overall site has an irregular shape, but with frontage along three roadways. Current zoning is PS, Public Service for the main site area and CG, Commercial General for the small parcel. Reportedly, the subject property has potential for rezoning to either CG, or IN, Industrial, per the information provided. Lisa Leger Frazier, AICP Appraisal #46839 Community Development Director City of Sebastian August 21, 2023 Page Two The subject site contains the three older buildings, along with substantial site improvements. These buildings range in size from 1,764 to 4,000 square feet and were built in 1979, 1992 and 1999. They total 9,322 square feet overall, plus covered work areas. These buildings are not in use and the current condition is rated fair. These improvements have little to no value to the subject overall site, in our opinion, considering their older age and current condition, smaller building sizes and otherfactors, including the subject commercial location. Further, the subject site reportedly has soil contamination and is currently under Petroleum Restoration Program procedures. Our opinion of the Market Value of the fee simple estate of the subject property, "As Is," utilized the Sales Comparison Approach. We considered sales of vacant and partially improved commercial and industrial properties in the subject neighborhood and other areas of Indian River County. Based on the data and analysis as presented in this appraisal report, it is our opinion that the Market Value of the fee simple estate of the real property appraised, "As Is," as of August 11, 2023 is: ONE MILLION DOLLARS ($1,000,000) The above Market Value conclusion has conditions and assumptions that are assumed to be correct, as discussed in the appraisal report. It should be noted that if some or all of these conditions or assumptions are not correct, it could affect our opinion of the subject Market Value, as provided herein. We believe the appraisal report to be complete, but any questions you may have are welcomed. Sincerely, Daniel A. Nelson State -Certified General Real Estate Appraiser RZ897 Peter D. Armfield, MAI State -Certified General Real Estate Appraiser RZ524 TABLE OF CONTENTS LIMITING CONDITIONS AND UNDERLYING ASSUMPTIONS .................... 1 EXTRAORDINARY ASSUMPTIONS ......................................... 2 APPRAISAL SUMMARY .................................................. 5 INTRODUCTORY COMMENTS ............................................ 7 SCOPE OF WORK ...................................................... 8 LEGAL DESCRIPTION .................................................. 11 OWNER OF PROPERTY AND SALES HISTORY ............................. 14 LOCATION MAP ....................................................... 15 PROPERTY PHOTOGRAPHS TAKEN 8/11/23 ............................... 16 INDIAN RIVER COUNTY AREA DATA ...................................... 26 NEIGHBORHOOD...................................................... 44 ZONING.............................................................. 47 CONCURRENCY...................................................... 49 ASSESSMENT AND TAXES .............................................. 49 UTILITIES............................................................ 50 SITE DESCRIPTION.................................................... 51 PLAT MAP............................................................ 52 AERIAL MAP .......................................................... 53 COPY OF SURVEY ..................................................... 54 FLOODZONE ........................................................ 55 CENSUS TRACT ....................................................... 55 SITE IMPROVEMENTS ................................................. 55 TABLE OF CONTENTS (continued) SITE PLAN........................................................... 56 BUILDING IMPROVEMENTS ............................................. 57 BUILDINGS #1 &#2.................................................... 58 BUILDING#3.......................................................... 59 HIGHEST AND BEST USE ............................................... 61 VALUATION PROCESS ................................................. 64 SALES COMPARISON APPROACH ....................................... 65 LAND SALE #1........................................................ 67 AERIAL MAP - SALE #1................................................. 68 LAND SALE#2........................................................ 69 AERIAL MAP - SALE #2................................................. 70 LAND SALE#3........................................................ 71 AERIAL MAP - SALE #3................................................. 72 LAND SALE#4........................................................ 73 AERIAL MAP - SALE #4................................................. 74 LAND SALE#5........................................................ 75 AERIAL MAP - SALE #5................................................. 76 LISTING#6........................................................... 77 AERIAL MAP - LISTING#6............................................... 78 LAND SALES SUMMARY AND ADJUSTMENT GRID .......................... 79 LAND SALES LOCATION MAP ........................................... 80 MARKETING TIME ..................................................... 82 REASONABLE EXPOSURE TIME ......................................... 82 TABLE OF CONTENTS (continued) CERTIFICATION OF APPRAISAL ......................................... 83 QUALIFICATIONS OF THE APPRAISER .................................... 85 APPRAISAL LICENSES ................................................. 88 LIMITING CONDITIONS AND UNDERLYING ASSUMPTIONS 1. The value given in this appraisal report represents the opinion of the signer as to the Value AS OF THE DATE SPECIFIED. Values of real estate are affected by an enormous variety of forces and conditions will vary with future conditions, sometimes sharply within a short time. Responsible ownership and competent management are assumed. 2. No responsibility is assumed for the legal description or for matters including legal or title considerations. Title to the property is assumed to be good and marketable unless otherwise stated. 3. The property is appraised free and clear of any or all liens or encumbrances unless otherwise stated. 4. The information furnished by others is believed to be reliable. No warranty, however, is given for its accuracy. 5. All engineering is assumed to be correct. The plot plans and illustrative material in this report are included only to assist the reader in visualizing the property. 6. It is assumed that there are no hidden or apparent conditions of the property, subsoil, or structures that render it more or less valuable. No responsibility is assumed for such conditions or for arranging for engineering studies that may be required to discover them. 7. It is assumed that there is full compliance with all applicable federal, state, and local environmental regulations and laws unless noncompliance is stated, defined, and considered in the appraisal report. 8. It is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless a nonconformity has been stated, defined, and considered in the appraisal report. 9. It is assumed that all required licenses, certificates of occupancy, consents, or other legislative or administrative authority from any local, state, or national government or private entity or organization have been or can be obtained or renewed for any use on which the value estimate contained in this report is based. 10. It is assumed that the utilization of the land and improvements is within the boundaries of property lines of the property described and that there is no encroachment or trespass unless noted in the report. 11. The distribution, if any, of the total valuation in this report between land and improvements applies only under the stated program of utilization. The separate allocations for land and buildings must not be used in conjunction with any other appraisal and are invalid if so used. 12. Possession of this report, or a copy thereof, does not carry with it the right of publication. It may not be used for any purpose by any person other than the party to whom it is addressed without the written consent of the appraiser, and in any event only with proper written qualification and only in its entirety. 2 LIMITING CONDITIONS AND UNDERLYING ASSUMPTIONS (continued) 13. The appraiser herein by reason of this appraisal is not required to give further consultation, testimony, or be in attendance in court with reference to the property in question unless arrangements have been previously made. 14. Neither all nor any part of the contents of this report especially any conclusions as to value, the identity of the appraiser, or the firm with which the appraiser is connected or any reference to the Appraisal Institute, or the MAI or SRA designations shall be disseminated to the public through advertising, public relations, news, sales, or other media without prior written consent and approval of the appraiser. 15. Unless otherwise stated in this report, the existence of hazardous material, which may or may not be present on the property, was not observed by the appraiser. The appraiser has no knowledge of the existence of such materials on or in the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea -formaldehyde foam insulation, or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value. No responsibility is assumed for any such conditions, or for any expertise or engineering knowledge required to discover them. 16. The Contract for the appraisal of said premises is fulfilled by the signer hereto upon the delivery of this report duly executed. 17. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he makes no guarantees, express or implied, regarding this determination. 18. The Americans with Disabilities Act (ADA) became effective January 26,1992. We have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property, together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the act. If so, this fact could have a negative effect upon the value of the property. Since we have no direct evidence relating to this issue, we did not consider possible noncompliance with the requirements of ADA in estimating the value of the property. 19. The appraisal report has extraordinary assumptions, as discussed on the following pages 3 and 4. The use of these extraordinary assumptions may have affected the assignment results of this appraisal report. EXTRAORDINARY ASSUMPTIONS Extraordinary assumptions are assignment -specific assumptions, as of the effective date, about the subject property being appraised regarding uncertain information used in an analysis. Should such assumptions be found to be false, the appraisers' conclusions or opinions could be altered. This information might include physical, legal, or economic characteristics of the subject property, or conditions external to the property, such as market conditions or trends; or the integrity of the data used in an analysis. 3 EXTRAORDINARY ASSUMPTIONS (continued) 1. Based on evidence from nearby properties and from utilities authorities, the subject property is being appraised as if utilities are available to the property sufficient in capacity to support the Highest and Best Use, at costs that are typical to competing properties. Reportedly, the subject property currently utilizes septic tanks for sewage disposal, but future redevelopment will require county sewer service be extended from the southeast via a new 4 inch sewer force main (approximately 400 linear feet) from Louisiana Avenue and Sebastian Boulevard. The cost of this sewer service may also require a Lift Station and has not been provided, subject to review by the appraisers. 2. It should be noted that the subject property has previously been used by the City of Sebastian as a Public Works office and vehicle/equipment storage facility. The facility is currently closed, but was utilized for maintenance and repair of City vehicles, along with the storage of construction materials. Two aboveground fuel storage tanks and associated dispensers were also utilized. Previously, the facility had been operated with two underground storage tanks (5,000 gallon leaded gasoline and 300 gallon diesel fuel) which were removed in 1991. These UST's had been installed in 1984 and are the subject of the current cleanup activities related to the previous soil contamination. Site clean-up had included the documented removal of 770 cubic yards of soil and a contamination assessment report which was completed in May, 1992. Additional testing included soil borings and monitoring wells being installed. More recently, in December 2022, a shallow groundwater monitoring well was installed. Petroleum Restoration Program procedures have recently been approved with a total cost of around $9,912.53 indicated. It is assumed that all of this information is accurate as provided and retained in our office files. Further, it is assumed that the subject property can continue with the current restoration program and be utilized to its Highest and Best Use. 3. For purposes of this appraisal, we have assumed that the subject overall site contains a total of 157,912 +- square feet, or 3.63 acres. The adjacent Veterans Memorial Way provides access to the subject property and extends between Sebastian Boulevard westbound and Louisiana Avenue. This roadway is indicated to be part of the subject site area, per the Indian River County Property Appraisers records. However, it is not part of the subject property appraised, per the client. Nevertheless, it is assumed that access is and will be available to and from the subject property. 4. Current zoning is PS, Public Service for the main site area and CG, Commercial General for the small parcel. Reportedly, the subject property has potential for rezoning to either CG, Commercial General, or IN, Industrial, per the information provided. It is assumed that the subject property is currently grand -fathered and in compliance with local, state, and federal laws and requirements to allow continued industrial use, along with potential for future commercial and/or industrial development. 4 EXTRAORDINARY ASSUMPTIONS (continued) 5. The subject property has been inspected on August 11, 2023 by Daniel A. Nelson. This inspection included the subject site, site improvements and the three buildings. Based on our analysis, these site improvements and buildings are older and smaller in size and not felt to represent the Highest and Best Use of the subject property, as if vacant, or as improved. The cost of demolition and removal is unknown, but these improvements have potential for some interim value. Their potential value is estimated to be roughly offset by the cost of extending the sewer line, along with the soil contamination. E APPRAISAL SUMMARY Property Type: Addresses: Date of Inspection: Inspected by: Effective Date of Appraisal: Report Preparation Date: Date of Appraisal Report: Property Rights Appraised: Purpose of the Appraisal: Intended Use of the Appraisal: Intended Users of the Appraisal: Appraisal complies with the 2022-2023 Uniform Standards of Professional Appraisal Practice (USPAP): Zoning: CLOP: Highest and Best Use: Site as if Vacant: Property as Improved: Land: Site Area: Frontage: Frontage: Frontage: Depth: Closed Public Works Facility 100 Veterans Memorial Way & 190 Sebastian Boulevard Sebastian, Florida 32958 August 11, 2023 Daniel A. Nelson & Peter D. Armfield, MAI August 11, 2023 August 11 - August 21, 2023 August 21, 2023 Fee Simple Estate Provide our opinion of the Market Value of the subject real property, "As Is." Valuation for asset decision making purposes by the client (City of Sebastian) for possible purchase negotiations. City of Sebastian, c/o Lisa Leger Frazier, AICP, Community Development Director of the City of Sebastian, and/or authorized representatives. Yes, Appraisal Report. PS, Public Service & CG, Commercial General Mixed Use Future development with commercial and/or industrial use, as demand warrants. Potential for interim industrial use with future commercial/industrial development, as demand warrants. (See Report). 157,912 + SF - (3.63 Acres) 555.77 feet (Sebastian Blvd. Westbound) 162.55 feet (Veterans Memorial Way) 100.71 feet (Sebastian Blvd. Eastbound) Irregular APPRAISAL SUMMARY (continued) Building Improvements: Building #1 - Office/Warehouse Building #2 - Service Garage Building #3 - Metal Warehouse Total - Gross Building Area Opinion of Market Value: (Fee Simple Estate - "As Is") 1,764 SF - Built 1979 3,558 SF - Built 1992 4,000 SF - Built 1999 9,322 SF $19000,000 IN INTRODUCTORY COMMENTS PURPOSE OF THE APPRAISAL AND RIGHTS APPRAISED The purpose of this appraisal is to provide our opinion of the Market Value of the fee simple estate of the subject property, "As Is," as of date of our property inspection on August 11, 2023. The appraisal is provided in an Appraisal Report format, per your request. MARKET VALUE DEFINED Market value is the major focus of most real property appraisal assignments. Both economic and legal definitions of market value have been developed and refined. A current economic definition agreed upon by federal financial institutions in the United States of America 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 and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: 1. Buyer and seller are typically motivated. 2. Both parties are well informed or well advised, and acting in what they consider their own best interest. 3. A reasonable time is allowed for exposure in the open market. 4. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and 5. The price represents a 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 Practice of the Appraisal Foundation; and Office of Thrift Supervision Regulation 12 CFR 564.2(f); and the Office of Comptroller of the Currency. DEFINITION OF FEE SIMPLE ESTATE Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat. SOURCE - Taken from The Dictionary of Real Estate Appraisal Fifth Edition, sponsored by the Appraisal Institute, 2010 page 78. N. REAL PROPERTY DEFINED All interests, benefits, and rights inherent in the ownership of physical real estate. Source - Taken from The Dictionary of Real Estate Appraisal Fifth Edition, sponsored by the Appraisal Institute, 2010 page 161. PERSONAL PROPERTY DEFINED Identifiable tangible objects that are considered by the general public to be "personal," for example, furnishings, artwork, antiques, gems and jewelry, collectibles, machinery and equipment; all tangible property that is not classified as real estate. (USPAP, 2002 edition) - Consists of every kind of property that is not real property; movable without damage to itself or the real estate; subdivided into tangible and intangible. (IAAO) Source - Taken from The Dictionary of Real Estate Appraisal Fifth Edition, sponsored by the Appraisal Institute, 2010 page 145-146. Intended Use of the Appraisal: Valuation for asset decision making purposes by the client (City of Sebastian) for possible purchase negotiations. Intended Users of the Appraisal: City of Sebastian, c/o Lisa Leger Frazier, AICP, Community Development Director of the City of Sebastian, and/or authorized representatives. SCOPE OF WORK The Scope of Work is defined as the type and extent of research and analyses in an assignment. Source - Taken from 2020-2021 Uniform Standards of Appraisal Practice (USPAP), prepared by the Appraisal Standards Board (ASB) for The Appraisal Foundation, Effective January 1, 2020, Page 5. The three main points of the Scope of Work are as follows: 1) Identify the problem to be solved. 2) Determine and perform the scope of work necessary to develop credible assignment results. 3) Disclose the scope of work in the report. The appraiser must properly identify the problem to be solved to determine the appropriate scope of work. An appraisal report is provided, as requested by the client. This Appraisal Report complies with the reporting requirements set forth under Standards Rule 2-2(a) of the 2022-2023 Uniform Standards of Professional Appraisal Practice (USPAP). The Appraisal Report is also designed and prepared to be fully compliant with FIRREA and its intended use by the client. The Appraisal Report format provided and contained in this report is specific to the needs of the client and the intended use of the appraisal. The scope of work included making an inspection of the subject property appraised by both Daniel A. Nelson and Peter D. Armfield on August 11, 2023. We inspected the subject site, site improvements and three buildings. The subject buildings have been measured, cross checked with information provided, along with the Indian River County Property Appraisers records. Property photographs have been taken and are provided in the appraisal report. The subject property consists of a partially improved site located along Sebastian Boulevard with main access via Veterans Memorial Way. The main site area contains the former City of Sebastian Maintenance Compound which is presently vacant. The improvements include three warehouse/office type buildings along with paved parking and drive areas, drainage improvements, walkways, perimeter fencing, utility services, etc. This parcel contains approximately 555 +-feet of frontage along the south side of Sebastian Boulevard westbound and 162.55 +- feet along the west side of Veterans Memorial Way. Additionally, a separate tax parcel at 190 Sebastian Boulevard contains around 100 +- feet of frontage along the north side of Sebastian Boulevard eastbound. Total site size of the subject property is indicated at 157,912 +- square feet, or 3.63 +- acres. We have discussed the subject former use and potential uses with the client. The appraisers have relied' on the information provided which is assumed to be accurate as utilized in the appraisal report. Reportedly, the subject property currently utilizes septic tanks for sewage disposal, but future redevelopment will require county sewer service be extended from the southeast via a new 4 inch sewer force main from Louisiana Avenue and Sebastian Boulevard. The cost of this sewer service has not been provided and is subject to review by the appraisers. It should be noted that the subject property had previously been used by the City of Sebastian as a Public Works office and vehicle/equipment storage facility. The facility is currently closed and the buildings are vacant. Previously, the facility had been operated with two underground storage tanks (5,000 gallon leaded gasoline and 300 gallon diesel fuel) which were removed in 1991. These DST's had been installed in 1984 and are the subject of the current cleanup activities related to the previous soil contamination. Just recently, in December 2022, a shallow groundwater monitoring well was installed. Petroleum Restoration Program procedures have recently been approved with a total cost of around $9,912.53 indicated. It is assumed that all of this information is accurate as provided and retained in our office files. Further, it is assumed that the subject property can continue with the current restoration program and be utilized to its Highest and Best Use. Ir This Appraisal Report provides information in describing the subject property, along with the subject neighborhood. It also includes the subject property tax information, zoning, utilities, site description, and Highest and Best Use, etc. The scope of work in this appraisal report also included observing neighborhood supply and demand factors, use patterns, along with maintenance levels. We also considered the supply and demand for similar types of properties throughout the community, along with the Highest and Best Use of the subject property, as if vacant, and partially improved. The subject buildings are older and smaller in size and not felt to represent the Highest and Best Use of the subject property, as if vacant, or as improved. The cost of demolition and removal is unknown, but these improvements have potential for some interim value. Their potential value is estimated to be roughly offset by the cost of extending the sewer line, along with the soil contamination. Thus, based on our analysis, the subject current site and building improvements are not estimated to contribute additional value to the subject site, as if vacant, and available for development to its Highest and Best Use. The valuation analysis of the subject appraisal involves gathering market data to support three different market analyses, when available. The data targeted is from properties with Highest and Best Use similar, or relatively similar to the subject. The three market analyses are commonly referred to as approaches to value and are identified as the Cost Approach, Sales Comparison Approach, and the Income Approach. All three approaches are considered in providing our opinion of the Market Value of the fee simple estate of the subject property, as of August 11, 2023. However, only the Sales Comparison Approach is specifically included, as it is considered to be the most applicable. Neither the Cost Approach or the Income Approach are felt necessary in the scope of work of this appraisal report to provide a credible result. The Sales Comparison Approach analyzes comparable sales and a current listing of commercial and industrial land parcels. A search was made throughout the subject neighborhood, and the City of Sebastian, along with the overall Indian River County area for comparable land sales. These comparable sales are then investigated and analyzed to utilize in the valuation analysis of the subject property. These comparable sales are discussed and provided in the appraisal report. They are analyzed based on the price per square foot of site area, along with the price per acre. The data gathered is limited in area to the real estate market throughout Indian River County. Primary focus is on data available from within the area described as the subject's neighborhood, or from other neighborhoods felt to be competing or servicing similar market segments within the county. Data sources for sales include public recording of real estate sales transferred by warranty deed via data sources used in the appraisers office. Our office data sources include the Clerk of the Court, Property Appraiser, and Multiple Listing Service (MLS). Data is gathered, verified if possible, and then analyzed to interpret trends of the market participants. 11 LEGAL DESCRIPTION The following Legal Description has been obtained from the client per a survey prepared by Meridian Land Surveyors, dated August 3, 2023 and identified by Project #23-046. It also includes a Sketch of Legal Description. EXHIBIT 1 FR NE COR OF NW1/4, RUN W ALONG N BDRY 300.4 FT TO POB; S 146.55 FT TO CL OF ST RD 512; SKY 90 FT; NWLY TO PT WHICH IS 113 FT W OF POS; RUN E ALONG N LINE SEC 7 TO POB AS R BK 88 PP 60 LESS RD R/W (OR BK 428 PP 330) EXHIBIT 2 7.5 A IN SW 1/4, D BK 3, PP 279 LESS E 2885 FT OF S 433 FT THEREOF & LESS N 267.25 AS MEASURED ALONG RR R/W AS PER OR BK 708 PP 819 ALSO LESS AND EXCEPTING THE FOLLOWING: COMMENCING AT THE SOUTHEAST CORNER OF THE SOUTHWEST 1/4 OF SECTION 6, TOWNSHIP 31 SOUTH, RANGE 39 EAST, RUN N0012'40"E, ALONG THE EAST LINE OF THE SOUTHWEST 1/4 OF SAID SECTION 6, THE SAME BEING THE CENTERLINE OF LOUISIANA AVENUE, FOR A DISTANCE OF 432.49 FEET TO A POINT; THENCE DEPARTING SAID EAST LINE, RUN S89'25'41"W FOR A DISTANCE OF 40.00 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF LOUISIANA AVENUE AND THE POINT OF BEGINNING OF THE HEREIN DESCRIBED PARCEL OF LAND; FROM SAID POINT OF BEGINNING, CONTINUE S89-2541"W FOR DISTANCE OF 422.95 FEET TO A POINT ON THE SOUTHEAST RIGHT OF WAY LINE OF COUNTY ROAD 512; THENCE RUN N3814'59"E, ALONG SAID SOUTHEAST RIGHT OF WAY LINE, FOR A DISTANCE OF 77.54 FEET TO A POINT; THENCE DEPART SAID SOUTHEAST RIGHT OF WAY LINE AND RUN N89'59118"E FOR A DISTANCE OF 375.13 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF LOUISIANA AVENUE; THENCE RUN S0012'40"W FOR A DISTANCE OF 56.75 FEET TO THE POINT OF BEGINNING. �A (DESCRIPTION BY $l)RVEYOR) A PARCEL OF LAND LYING IN SECTION 6 AND SECTION 7, TOWNSHIP 31 SOUTH, RANGE 39 EAST, CITY OF SEBASTIAN, COUNTY OF INDIAN RIVER, FLORIDA, AND BEING MORE PARTICULARLY BOUNDED AND DESCRIBED AS FOLLOWS; COMMENCING AT THE SOUTHEAST CORNER OF THE SOUTHWEST 1/4 OF SAID SECTION 6, RUN S89'25'41"W, ALONG THE SOUTH LINE OF SAID SECTION 6, FOR A DISTANCE OF 300.40 FEET TO THE POINT OF BEGINNING OF THE HEREIN DESCRIBED PARCEL OF LAND; FROM THE POINT OF BEGINNING, DEPART THE SOUTH LINE -OF SAID SECTION 6 AND RUN S0012'40"W FOR A DISTANCE OF 102.66 FEET TO A POINT ON THE NORTHWEST RIGHT OF WAY 60 Building #1 has concrete block construction and a metal roof. The building interior has concrete floors and drywall walls and ceilings and includes two main work areas, two office areas, and a utility room. There are two restrooms including one with a shower. This building has climate control and is older, built around 1979. It is currently in fair condition. Building #2 also has concrete block construction, but with a shingle roof over wood trusses. The building was designed for service garage uses and includes a large open service garage area, along with covered canopy areas. There are two story offices in the northwest portion accessed by interior wood stairs. The second floor offices are in poor condition. A storage room with fuel tanks is also provided. This building contains a total of 2,040 square feet of covered canopy and work areas. This building was reportedly built around 1992 and the overall condition is rated fair. Building #3 contains 4,000 square feet and consists of a 40' x 100' metal warehouse building located on the southwest portion of the main site area. The building has metal frame construction with a wall height of 16 feet and metal roofing. The building has (3) roll -up overhead doors, along with passenger doors. The interior has florescent lighting with insulated roof area. The building consists of open warehouse space with no restrooms. It was built in 1999 and appears to be in average condition. These buildings are currently vacant and their overall condition is rated fair. They consist of fair to average quality construction designed for their former use. However, the buildings appear to be structurally sound and physically have some potential for continued use with clean-up and renovations and improvements. They total 9,322 square feet in size which represents a building to land ratio of only 5.9% to the overall site and slightly higher, say around 6.4% for the main site area. They represent an under improvement to the subject site due to the smaller sizes, siting, building ages and overall quality. These improvements do not provide an adequate return to the subject site to support its current land value. Functional obsolescence is a loss in value resulting from defects in design. It can also be caused by changes that, over time, have made some aspect of a structure, such as its materials or design, obsolete by current standards. The defect may be curable or incurable, depending on whether the cost to correct the defect is the same or less than the anticipated increase in value after the correction. Based on our analysis, these buildings are forecast to have little to no value to the subject overall site, in our opinion, considering their older age and current condition, smaller building sizes and other factors, including the subject commercial location. External obsolescence is the diminished value of a structure due to negative influences from outside the property, and is incurable on the part of the property owner. Such negative influences could include the economic decline of a neighborhood or the transition of a neighborhood from one use to another. No external obsolescence is considered to exist from these influences. 61 These factors are all considered in the valuation analysis of the subject property, which consists of the subject land value, but also considering the potential for continued use of the subject site improvements and buildings, offset by the soil contamination and the potential cost for a sewer line extension. HIGHEST AND BEST USE Property Market Value trends can be analyzed through a study of the forces which drive this market activity. These forces are referred to as supply and demand, substitution, balance and external interference. The term "Highest and Best Use" refers to the optimum use of a property, considering the impact of all of these market forces on a specific property. The value of real property is directly related to the use to which it can be put. A parcel may have several different value levels under alternative uses. The property appraised herein is appraised under its Highest and Best Use, as defined below: "The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum productivity." Source: The Dictionary of Real Estate Appraisal - 5th Edition, sponsored by the Appraisal Institute, 2010, Page 93. In each appraisal of improved property there are two considerations of Highest and Best Use: one for the land considered as though vacant and one for the property as improved. Within each analysis four sets of use constraints are considered: legally permissible, physically possible, economically feasible, and maximally productive. Legally permissible restrictions include private restrictions, zoning, building codes, historic district controls, and environmental regulations. Physically possible uses are determined by the size, shape, area, topography and accessibility of a parcel of land. Included in this analysis are the risk of natural disasters, capacity and availability of public utilities, and the physical components of the improvements. Financial feasibility considers uses that are legally permissible and physically possible, and determines which ones produce a positive return. A maximally productive use is the financially feasible use that produces the highest residual land value. 62 The Highest and Best Use of land assumes that the site is vacant and that the site could be utilized at the Highest and Best Use which is determined in this analysis. The Highest and Best Use of the site, as improved, correlates the current improvements with improvements that would be made at the optimum development of the site: as determined in the Highest and Best Use of vacant land. Site as if Vacant: Physically, the subject site is located along the south side of the Sebastian Boulevard westbound roadway at the southwest corner of Veterans Memorial Way (100 Veterans Memorial Way). It consists of two tax parcels that are combined and also include frontage along the north side of Sebastian Boulevard eastbound. Thus, the subject site has frontage along all three roadways, but also an irregular shape. Total site size is 157,912 +- square feet, or 3.63 +- acres. The main site area contains approximately 555.77 +- feet of frontage along the south side of Sebastian Boulevard westbound and 162.55 +- feet along the west side of Veterans Memorial Way. The separate tax parcel at 190 Sebastian Boulevard contains around 100.71 +- feet of frontage along the north side of Sebastian Boulevard eastbound. The east property line dimension is a total of 546.20 +- feet (433.04' + 102.66'). The south and west property lines are irregular. The main site area contains the former City of Sebastian Maintenance Compound which is presently vacant. The improvements include three warehouse/office type buildings along with paved parking and drive areas, drainage improvements, walkways, perimeter fencing, utility services, etc. The site is generally level and partially improved with the closed facility. The parcel at 190 Sebastian Boulevard formerly contained an older single family residence, but since demolished and removed. It consists of a mostly cleared vacant commercial parcel that contains native vegetation. In summary, the subject site has an irregular shape, but frontage along three roadways and is convenient to surrounding areas. It has adequate frontage, depth, and size, along with access for both commercial and industrial uses. Legally, the site is restricted by zoning under the guidelines of the City of Sebastian Growth Management Department. Current zoning is PS, Public Service forthe main site area and CG, Commercial General for the small parcel. Reportedly, the subject property has potential for rezoning to either CG, or IN, Industrial, per the information provided. This will be considered by the City of Sebastian Growth Management Department and other officials. The CLUP for the City of Sebastian is Mixed Use. Thus, both the subject zoning and CLUP may need to be changed, depending on the proposed use. It is assumed that the subject zoning will support both commercial and industrial uses, per the information reviewed. 63 Economically, to be financially feasible a use should generally return a positive net income to the investor. The commercial and industrial real estate market, as well as the local economy have been improving over the last several years. The pandemic had created some additional uncertainty, but generally the local economy and real estate market have remained strong and recovered. A maximally productive use is a use that returns the greatest value to the site. In the case of the subject neighborhood, these uses have been primarily by owner occupants, along with some investment properties. The most likely uses of the subject property are for commercial and industrial uses. Market conditions for retail commercial, trade warehouse, contractor warehouse, and storage warehouses have improved over the last few years and particularly over the last 3 years, based on our observations and discussions with market participants. Physically, the most likely use of the subject property, as if vacant, would be to improve with a commercial or industrial use. Legally, these types of improvements are assumed to be allowed in the subject eventual zoning district. Further, economically, the demand for commercial and industrial uses have been good over recent years. However, the subject site is somewhat larger and may necessitate a mixed use or phased development. Highest and Best Use of the subject property, as if vacant, is for future commercial and/or industrial development of the subject site, as demand warrants. Property as Improved: Physically, the subject property contains three warehouse types buildings that were previously utilized for the City of Sebastian Maintenance Compound. These buildings range in size from 1,764 to 4,000 square feet and were built in 1979, 1992 and 1999. They total 9,322 square feet overall, plus covered work areas. They are summarized below: Buildinq # Buildinq Description Size/SF Year Built - Age Building #1: Office/Warehouse 1,764 SF Built 1979 - 44 years Building #2: Service Garage/Office 3,558 SF Built 1992 - 31 years Building #3: Metal Warehouse Building 4,000 SF Built 1999 - 24 years Total Gross Building Area 9,322 SF Additionally, the subject main site area has substantial site improvements, including paved drive and parking areas, landscaping, drainage improvements, chain link fencing, etc. Legally, the subject property is currently vacant as the City of Sebastian has moved their facility to another location. Reportedly, the subject property has potential for rezoning to either CG, or IN, Industrial, per the information provided. Parking Requirements vary with the property use. Site plan and other approvals will be required. It is assumed that the subject property is currently grand -fathered and in compliance with local, state, and federal laws and requirements to allow continued industrial use, along with potential for future commercial and/or industrial development. 64 Economically, the three buildings and the subject property are currently vacant and their overall condition is rated fair. They consist of fair to average quality construction designed for their former use. They total 9,322 square feet in size which represents a building to land ratio of only 5.9% to the overall site and slightly higher, say around 6.4% for the main site area. Nevertheless, the buildings appear to be structurally sound and physically have some potential for continued use with clean-up and renovations and improvements. The subject site is rather large in size and has a convenient commercial location along Sebastian Boulevard with good road frontage. It has potential for commercial and industrial uses. The current buildings represent an under improvement to the subject site due to the smaller sizes, siting, building ages and overall quality. These improvements do not provide an adequate return to the subject site to support its current land value. Based on our analysis, these buildings are forecast to have little to no value to the subject overall site, in our opinion, considering their older age and current condition, smaller building sizes and other factors, including the subject commercial location. Highest and Best Use of the subject property, as improved, is forecast as potential interim use of these improvements until redevelopment of the subject overall site is warranted. VALUATION PROCESS For most parcels of vacant land, only one of the traditional three approaches to value is useful. This, of course, is the Sales Comparison Approach. In this approach, the subject property is compared to parcels which have been involved in recent transactions, and adjustments are made to the unit prices derived from those sales, to recognize differences between the subject and the sales. The Income Approach is not generally used since most parcels of vacant land are not producing income, and the Income Approach consists of capitalizing net income at a market rate, to indicate value. When sales of vacant parcels are not available for comparison, which often is the case in built-up areas, the residual income from a hypothetical highest and best use building may be capitalized to indicate land value. This was not the case here, since recent sales throughout the community are available, and this approach was not used. The Cost Approach, the third of the traditional approaches, is by definition not useable for vacant land. The subject buildings are older and felt to represent the Highest and Best Use of the subject property, as if vacant, or as improved. The cost of demolition and removal is unknown, but these improvements have potential for some interim value. Their potential value is estimated to be roughly offset by the cost of extending the sewer line, along with the soil contamination. Thus, based on our analysis, the subject current site and building improvements are not estimated to contribute additional value to the subject site, as if vacant, and available for development to its Highest and Best Use. Accordingly, we have made use only of the Sales Comparison Approach. 65 SALES COMPARISON APPROACH The subject property consists of a partially improved site located along Sebastian Boulevard with main access via Veterans Memorial Way. The main site area contains the former City of Sebastian Maintenance Compound which is presently vacant. This parcel contains approximately 555 +- feet of frontage along the south side of Sebastian Boulevard westbound and 162.55 +- feet along the west side of Veterans Memorial Way. Additionally, a separate tax parcel at 190 Sebastian Boulevard contains around 100 +- feet of frontage along the north side of Sebastian Boulevard eastbound. Total site size of the subject property is indicated at 157,912 +- square feet, or 3.63 +- acres. The subject overall site has an irregular shape, but with frontage along three roadways. Current zoning is PS, Public Service for the main site area and CG, Commercial General for the small parcel. Reportedly, the subject property has potential for rezoning to either CG, or IN, Industrial, per the information provided. The Market Value of the subject property estimated by direct comparison to recent comparable sales of commercial and industrial zoned parcels in the subject market area. A search was made throughout the subject neighborhood and competing areas for comparable land sales. These comparable sales are then investigated and analyzed to utilize in the valuation analysis of the subject property. Adjustments are then considered and adjusted sale prices reconciled to provide an indication of the Market Value of the subject property. Four commercial and one industrial land sale are specifically analyzed, along with a current listing of an adjacent commercial site. Other land sales and some current listings have also been considered. The comparable land sales are compared to the subject on the basis of price paid per square foot and per acre, with the price per square foot considered to best explain market activity for the subject property appraised. Adiustments Adjustments are considered for observed differences between the comparable sales and the subject. The land sales are adjusted forfinancing, conditions of sale, time (market conditions), location, size, and shape/depth. Other factors considered include improvements/site factors. We have also considered zoning, but no adjustments are estimated with the subject property assumed to have either CG, Commercial General, or IN, Industrial zoning. Listing #6 is adjusted minus 10% for listing negotiations. Any conditions of sale, or financing adjustments are first made to the sales price and the adjusted sales price is then analyzed. These adjustments, if estimated, are discussed in the individual land sale descriptions. MO Time (market condition) adjustments are considered, as demand for commercial and industrial land have been improving over recent years, despite the pandemic, and both commercial and industrial land values have increased, based on our observations. The comparable sales all closed in 2021 or 2022, with sale #3 the most recent sale closing in July, 2023. Unfortunately, little information is available to specifically analyze an adjustment for market conditions. Based on our observations, we have estimated a market condition of approximately 3/4% per month, or 9% per year. Further, the date of sale is considered in the final reconciliation. Location adjustments are made to compensate for value differences attributable to location. This adjustment is made based on the appraisers observations of property values in the varying locations, as compared to the subject. Access and exposure of the comparable sales are also considered in relation to the subject. The subject property has a convenient location and is located between the triangular portion of the Sebastian Boulevard Twin Pairs. Sale #1 is rated slightly superior and adjusted downward with sale #2 similar and not adjusted. Sale #3 is located along U.S. #1, south of County Road 512, rated slightly superior and also adjusted downward. Sale #4 is located on the northwest corner of U.S. #1 and Schumann Drive and is rated superior. Sale #5 is located along 41 s` Street, west of U.S. #1, just north of the City of Vero Beach. This location is inferior and adjusted upward. Listing #6 is located adjacent to the west of the subject with access available from Wimbrow Drive and is rated similar overall. Size adjustments are made to compensate for the inverse relationship in size. Typically, larger sites sell at a lower price per square foot than smaller sites and vice versa. Sales #1, #2, #4 and listing #6 are all smaller in size and adjusted downward. Sale #3 is slightly larger, but rated similar overall. Sale #5 is much larger and adjusted upward. Further, parcels with narrow or irregular shapes, or a large amount of depth in relation to frontage are typically marketed at a lower price per acre. Thus, an adjustment is also considered for shape/depth. The subject site has an irregular shape. Sales #1, #3 and #5 are all rated superior and adjusted downward. Lastly, the subject property contains substantial site improvements along with three buildings. We have considered and estimated an adjustment for improvements/site factors. As discussed, the subject buildings are older and not estimated to represent the Highest and Best Use of the subject property, as if vacant, or as improved. The cost of demolition and removal is unknown, but these improvements have potential for some interim value. Their potential value is estimated to be roughly offset by the cost of extending the sewer line, along with the soil contamination. Thus, based on our analysis, the subject current site and building improvements are not estimated to contribute additional value to the subject site, as if vacant, and available for development to its Highest and Best Use. The comparable land sales are all rated similar. Listing #6 is adjusted downward as this overall commercial site has common area drainage retention available including a large lake retention area. The five comparable land sales and one listing analyzed are discussed on the following pages. 67 LAND SALE #1 Type of Property: Commercial Land Address: 469-497 Sebastian Boulevard Sebastian, Florida 32958 Grantor: Clifford & Debra Schoonmaker Grantee: George & Binnar Jutras OR Book/Page: 3465/1259 Date of Sale: September 15, 2021 Sale Price: $575,000 Adjusted Sale Price: No adjustments made Tax I.D.#: 12-31-38-00004-4920-00049.0, 50.0, 51.0, 53.0, 54.0, 55.0 & 56.0 Brief Legal Description: Lots 49 thru 56, Block 492, Sebastian Highlands, Unit #12, Indian River County, Florida. Zoning: C-512 Highest and Best Use: Development with commercial use, as demand warrants. Site Size: Frontage: 335.70 feet Street: Sebastian Boulevard Depth: 160 feet Size: 53,242 SF (1.22 Acres) Unit Price: $10.80 / SF ($470,437/Acre) Financing: Appears to be all cash to seller. Confirmation: Public Records and Property Inspection. Sale #1 consists of the September, 2021 purchase of (8) individual commercial lots located along the south side of County Road 512, just west of Delaware Avenue, at 469 - 497 Sebastian Boulevard. The property is located adjacent to the west of a commercial building. This sale consists of lots #49 thru #56, Block 492, Sebastian Highlands Unit #12. These lots typically have around 40 feet of frontage and 160 feet of depth. The total site area is around 335.7 - feet by 160 feet, or a total of 53,242 square feet. The site consists of the eight individual lots that are combined. The site topography includes wooded areas along with a cleared area in the center portion the overall site. The site has good frontage and adequate depth. These types of assembled commercial sites are rather scarce, based on our observations. SEBASTIAN CRA MAJOR THEMES Throughout the formation of this 2023 Sebastian CRA Master Plan, as well as during the public input and workshop sessions, Bveaverarehing themes were identified. These themes are to be used as a planning framework for the Agency to help enhance the character of the downtown and to embrace opportunities that exist within the CRA. These major themes include: INFRASTRUCTURE& DRAINAGE �'•I A Riverfrant Drainage Study performed in 2014 identified a list of stormwater Improvement areas within the Sebastian CRA; these Included drainage improvements to Indian River, "Presidential Streer, Coolidge Street, Central Avenue/Davis Street, and the CavCorp parking lot. These stormwater facility improvements were completed in 2017 through the installation of baffle boxes at major outfall locations. In addition, the Agency continues plans to address other infrastructure needs relative to septic -to -sewer conversion within the redevelopment area. The stormwater facilities and water/sewer utility infrastructure may require upgrades within the CRA, especially when anticipating new demand driven by residential, commercial, and mixed -use development. WATERFRONT, PARKS, & PUBLIC SPACES YThe CRA closely identifies with Its A waterfront, occupying over 47% of its total acreage. The Agency has prioritized access and preservation of Its waterfront, as it is vital to the area's economic success. The CRA's community continues to support these preservation efforts, subsequently preserving and enhancing the City's history as a fishing village, contribute to the desired design theme, and make use of the waterfront resource to maximize economic development Open space enhancement projects along the water and restoring waterfront properties for new uses were contemplated within the 2010 Sebastian CRA Master Plan and have been continued within this 2023 Sebastian CRA Master Plan. In 2018, the consensus of community members and key stakeholders was to focus on river views and access, a waterfront pedestrian experience, and open public spaces. Specifically, the "Working Waterfront" initiative has been a high priority of the City and the Agency to promote economic revitalization along the Indian River coast. Subsequently, these efforts have continued to bring activity and regeneration to the Sebastian shoreline. In addition, enhancing the existing Riverview Park is a prime example of the potential for park revitalization and economic activity in the surrounding vicinity. A Riverview Park Master Plan was completed in 2019 to diversify its current uses and implement best management practices moving forward. The Agency seeks to generate more engagement with its open space by creating connectivity between greenspaces through implementation of a pedestrian pathway system, greenway connectors, and bicycle paths that may provide for future recreation enhancement opportunities. The Agency also seeks to enhance its recreational piers, waterfront boat ramp access, and smaller opportunistic waterfront parks, especially within the Park District. 0 j ROADS, PARKING, & PEDESTRIAN /7�11111_ CONNECTIVITY IMPROVEMENTS The CRA community's desire for road and pedestrian connectivity improvements along U.S. Highway 1 and Indian River Drive were significant observations during the public input sessions. The CRA is prioritizing pedestrian connectivity and accessibility In order to link west Sebastian to the waterfront by creating a more pedestrian- and bicycle -friendly streetscape environment and providing visual linkages between the riverfront and U.S. Highway 1. These improvements may include, but not be limited to, boulevard landscaping including street trees and sidewalks, widened sidewalks and curbed dedicated bicycling space along Indian River Drive, flashing pedestrian crosswalks across U.S. Highway I towards the riverfront, and safer crosswalk areas along the railroad tracks near the Sebastian Boulevard Triangle Area. In addition, the Land Development Code was updated under Ordinance No. 0-10-05 in an effort to encourage public parking use in high -demand/ low -supply areas. The "payment in lieu of parking" program permits the use of City parking areas adjacent to commercial property to satisfy zoning requirements. The Agency envisions increasing public parking in the CRA, and establishing on -street parking and streetscapes adjacent to recreation areas. t PUBLIC SAFETY Another observation from the community during the public input session was the desire to enhance public safety throughout the CRA, ensuring that everyone can live and work in a safe environment. In doing so, the Agency could develop a comprehensive public safety initiative that addresses public safety needs of the community. 1 52 1 2023 Sebastian CRA Sustainable Redevelopment Master Plan Currently, the City Police Department consists of a road patrol, canine, and marine unit divisions with the main commitment to maintaining a safe and peaceful environment for all residents and visitors within the City. Additional ways the Agency may increase public safety could Include increased lighting and safety measures in community spaces, developing public health and prevention strategies, and prioritizing youth development. PRESERVING THE COMMUNITY CHARACTER • • Promoting the community character as "Old Florida Fishing Village" and the CRA as a destination has been a major priority within the CRA since adoption. In doing so, the Agency has prioritized creating a unique brand through signage, wayfinding, and advertising. In addition, the CRA has prioritized enhancing existing recreation land in the CRA through use of appropriate urban design for parks and open spaces, increasing pedestrian connectivity and walkways, and preserving the character of the existing neighborhoods through proper landscaping, lighting, and signage. All of these practices have helped define the Sebastian CRA's community character and a coherent sense of place when visiting the CRA. These five major themes have helped identify the guiding principles, as well as the recommended Improvement and redevelopment programs within the CRA, as detailed along the following pages. LAK Photo Courtesy of CoStar lt• GUIDING PRINCIPLES The principles identified below are derived from public engagement, other plans, and background data utilized. The analysis and feedback suggest a variety of objectives that are the essential elements of this 2023 Sebastian CRA Master Plan structural framework. ENCOURAGE • Residential and mixed -use development within the Sebastian Blvd. Triangle Overlay District. • Retail uses adjacent to Riverview Park. • Compatible infill development. • Enhancement of the character of the CRA with architecture that addresses the community's 'Old Florida Fishing Village" scale and feel. II. CREATE • Gateway features at west end of Sebastian Blvd. Triangle Overlay District and on U.S. Highway 1 Visual linkages between the riverfront and U.S. Highway 1. Improved bicycle and pedestrian linkages to the riverfront and between recreation lands. Additional on-street/off-street parking. Pocket parks and wildlife observation areas. Opportunities to facilitate development of catalyst sites and other priorities through property acquisition. III. PRESERVE Protect and enhance uses and buildings along and adjacent to one of the area's most important assets: the Indian River Lagoon. Important historic resources in the redevelopment area, particularly those that help to illustrate the area's fishing heritage, as well as those that meaningfully contribute to the "Old Florida Fishing Village" character. Waterfront access and continued riverfront activities. IV PROMOTE Promote the redevelopment area as a destination for shopping, dining, events, and recreation. Incentive, Grant, and Assistance Programs available to property owners and businesses within the CRA. Seclia', 4 Redeveloprnent Plan 1 s3 RECOMMENDED IMPROVEMENT & REDEVELOPMENT ACTIVITIES AND PROGRAMS WITHIN THE SEBASTIAN CRA REDEVELOPMENT AND IMPROVEMENT ACTIVITY BY CONCEPTUAL. PLANNING DISTRICT Sebastian U S _I Sebastian Park Blvd. Commercial Riverfront Blvd. Mixed -Use South Encourage Residential + Mixed Use Development X X x X Retail Uses adjacent to Riverview Park X Compatible Infill Development X X X x X "Old Florida Fishing Village" Character X X X X Development of Catalyst Sites x x X X Create Renovations/Upgrades to Riverview Park X Gateway Features X X X On-Street/Off-Street Parking x X X Pocket Parks + Wildlife Observation Areas X x X Property Acquisition x X X X x Improvements to Recreational "Twin" Piers X X Increased Pedestrian Connectivity X X X X Streetscape Improvements + Vegetative X x x X Landscaping Preserve Protect + Enhance Indian River Lagoon Frontage X X Historic Resource Protection x X x X X Waterfront Access + Riverfront Activities X X Preservation Promote Marketing of Redevelopment Area as Destination X X X X X Promote Incentive/Grant/Assistance Programs X X x X X Source Scl sWn Cwrvn ry Re vebpm nt Agency aM ConsAcnty Inc. REDEVELOPMENT PROGRAMS FACADE, SIGN, AND LANDSCAPING MATCHING GRANT PROGRAM - This program provides funds to assist property owners and/or business owners to improve and install new signage and/or landscaping. SEPTIC TO SEWER CONNECTION GRANT (S2S) - This program is designed to provide individual grants to qualified property owners for costs incurred to remove an operational septic tank system that serves and occupied facility or building and connects to the County sanitary sewer system, SSP is available to businesses or residences located with the Redevelopment Area currently utilizing septic systems. PARKING -IN -LIEU PROGRAM - This program provides for establishing parking within the right-of-way at a rate of $3,200 per space. STORMWAI ER FEE CREDIT PROGRAM - All properties within City, whether or not they discharge stormwater directly into the Sebastian Stormwater Utility ("Utility") system, will pay a proportionate share of the Utility expenses incurred in providing generalized benefits to the system. Property located within the City from which stormwater runoff is discharged, either directly or indirectly, may be eligible for a reduction in the stormwater fee from the Utility. Single -Family Residential lots are not eligible for this credit. The City shall reasonably determine "fee credit" based upon the savings to the Utility resulting from the property's stormwater facilities or unique features. Stormwater fee credits include: incorporation of LID/BMP alternative practices such as vegetated swales and buffers, permeable pavers, bioretention and bioswales. 1 54 1 2023 Sebastian CRA Sustainable Redevelopment Moster Plan CONCEPTUAL PLANNING DISTRICTS' PRIORITIES As a part of the 2023 Sebastian CRA Master Plan, major priorities have been identified for each of the CRA's conceptual planning districts. These priorities are provided for the short-term (1-5 years) and the long-term (6-10 years), as illustrated below. These projects and associated time frames are consistent with the updated goals and objectives within this 2023 Sebastian CRA Master Plan. C j Park District SHORT-TI RM PRIOP,IT IFS Implementation of Riverview Park Master Plan Upgrades and Renovations. Restoration, as appropriate, of important waterfront properties to enhance their economic viability and maintain and improve the character of the CRA. streetscape improvements to Indian River Drive. Creation of riverfront event space. Property acquisition to facilitate Catalyst Site development and infill development projects. Create "local activity center' surrounding the Riverview Park, to include complementary retail uses, connectivity to the riverfront, and streetscape improvements. Restoration, as appropriate, of important waterfront properties to enhance their economic viability and maintain and improve the character of the CRA. New sidewalk construction as necessary to provide a continuous sidewalk network. Sebastian Riverfront Blvd. Mixed-Use(D District District SHORT-TERM PRIORITIES Improvement of the Sebastian Boulevard Triangle Area to provide for mixed -use development, connectivity to adjacent residential communities, and streetscape improvements. Property acquisition to facilitate Catalyst Site development and Infill development projects. LONG-TERM PRIORITIES New sidewalk construction as necessary to provide a continuous sidewalk network. Modification of lake to create park/ open space feature. U.S.-i Commercial District nn:n 1,__ Installation of gateway treatments at entrances to the CRA along U.S. Highway 1. Property acquisition to facilitate Catalyst Site development and infill commercial development. New sidewalk construction as necessary to provide a continuous sidewalk network. Enhancement of the U.S. Highway 1 streetscape to provide for greater pedestrian and bicycle usability, as well as the installation of mature landscaping and trees. Property acquisition to facilitate infill commercial development. SHORT-TERM PRIORITIES Restoration, as appropriate, of important waterfront properties to enhance their economic viability and maintain and improve the character of the CRA. Streetscape improvements to Indian River Drive. Property acquisition to facilitate Catalyst Site development and infill development projects. LONG-TERM PRIORITIES Restoration, as appropriate, of important waterfront properties to enhance their economic viability and maintain and improve the character of the CRA. New sidewalk construction as necessary to provide a continuous sidewalk network. Sebastian Blvd. South District Installation of gateway treatments at entrances to the CRA along Sebastian Boulevard. New sidewalk construction as necessary to provide a continuous sidewalk network. Property acquisition to facilitate infill development projects. Section 4 Redevelopment Plan 1 65 1