Community Redevelopment Agency Board Meeting

Page 1 of 2 6-10-2026 CRA Meeting Minutes CITY OF BRADENTON COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING MINUTES June 10, 2026 2:00 p.m. The Community Redevelopment Agency (CRA) Board met in the City Hall Council Chamber, 101 Old Main Street, Bradenton, Florida, at 2:00 p.m. on Wednesday, June 10, 2026. Present: Chair Kemp Schuessler, Vice Chair Lisa Gonzalez Moore, Board Member Pam Coachman, Board Member Marianne Barnebey, and Board Member Jayne Kocher. CRA Staff: Jeff Burton, CRA Executive Director; Chris Munyon, CRA Assistant Director; Karen Kyser, Program Administrator; Todd Campbell, CRA Coordinator; and Scott Rudacille, CRA Attorney. The meeting was called to order by Chair Schuessler at 2:00 p.m. CITIZEN COMMENTS: Cecilia Haag, shared details on the Gather 242 project on 13 th Street that included renderings and floor plan concepts. CONSENT AGENDA: a) Community Redevelopment Agency: CPTED Grant Application from AJA Business Holdings LLC. for a property located at 2514 9th St West b) Community Redevelopment Agency: Tamiami Trail Community Advisory Committee Application: Resolution CRA 26-03 c) Community Redevelopment Agency: Tamiami Trail Community Advisory Committee Application: Resolution CRA 26-04 d) Community Redevelopment Agency: May 27, 2026, Community Redevelopment Agency Board Meeting Minutes MOTION TO APPROVE THE CONSENT AGENDA was made by Board Member Kocher and seconded by Board Member Coachman. The motion passed unanimously. TAMIAMI TRAIL CRA: a) Community Redevelopment Agency: Second Amendment to Purchase and Sale Agreement with PHBGF Ventures, LLC Approved by the CRA Board on July 22, 2026

Page 2 of 2 6-10-2026 CRA Meeting Minutes Jeff Burton, CRA Executive Director, explained that the City Council had denied the proposed impact fee waiver amendment at the June 10, 2026, meeting. Mr. Burton summarized the amendment's details and the Board's options for the Met IIB and Met III impact fees. He recommended that the CRA offer to pay 70% of the impact fees, as that was the percentage of workforce housing allocated to both projects. Scott Rudacille, CRA Attorney, clarified that if the CRA accepted the amendment, the motion should approve the Second Amendment with a revision that removes the City and specifies that the CRA would fund 70% of the impact fees for the Met IIB project. He noted that an agreement for the Met III project was not yet prepared, and if that was accepted, he recommended a separate motion that authorized the impact fee payment, allowing the language to be incorporated when the document was written. MOTION TO APPROVE THE SECOND AMENDMENT AS REVISED TO REMOVE “THE CITY” AND PROVIDE FOR THE COMMUNITY REDEVELOPMENT AGENCY (CRA) BOARD TO CONTRIBUTE 70% OF THE IMPACT FEES FOR THE PROJECT was made by Board Member Gonzalez Moore and seconded by Board Member Kocher. The motion passed unanimously. OTHER DISCUSSION/ NEW BUSINESS: a) Community Redevelopment Agency: Second Amendment to Purchase and Sale Agreement with PHBGF Ventures, LLC MOTION TO AUTORIZE CRA INCENTIVE UP TO 70% OF THE IMPACT FEES was made by Board Member Coachman and seconded by Board Member Barnebey. The motion passed unanimously. Mr. Burton suggested scheduling a joint workshop with the City and the Bradenton Area Economic Development Corporation (EDC) to develop a policy regarding impact fees and other potential City incentives. He updated the Board that the Love Park improvement project was currently in the purchasing department phase. Mr. Burton reported that the CRA was partnering with Public Works to remove old lighting, trim trees, and hire a private contractor to install new lights along Old Main Street. He provided an update on recent Florida legislation. Todd Campbell, CRA Coordinator, introduced Bryan Moore and Wayne Chuck Nappi as new members of the Tamiami Trail Community Advisory Committee. Mr. Moore was present and expressed his excitement to join the committee. Mr. Nappi was unable to attend. The meeting was adjourned by Chair Schuessler at 2:30 p.m.

AGENDA

BRADENTON COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING

2:00 p.m. Wednesday, June 10, 2026

COUNCIL CHAMBERS - 101 OLD MAIN STREET

1.

MEETING CALLED TO ORDER

2.

PLEDGE OF ALLEGIANCE

3.

CITIZEN COMMENTS

Citizen comment will be accepted during the Citizen Comment portion of the meeting on any non-agenda item, agenda item, future agenda item or topic of relevance to the Community Redevelopment Agency of the City of Bradenton. Comments will be accepted on the public hearings at the appropriate time.

4.

CONSENT AGENDA

a)

Community Redevelopment Agency : CPTED Grant Application from AJA Business Holdings LLC. for a property located at 2514 9th St West

Approve

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b)

Community Redevelopment Agency : Tamiami Trail Community Advisory Committee Application: Resolution CRA 26-03

Approve

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Resolution_CRA_Appoint_Bryan Moore to TTCAC (1).pdf

c)

Community Redevelopment Agency : Tamiami Trail Community Advisory Committee Application: Resolution CRA 26-04

Approve

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Resolution_CRA_Appoint_Wayne_Chuck_Nappi_to_TTCAC-V1.pdf

d)

Community Redevelopment Agency : May 27, 2026, Community Redevelopment Agency Board Meeting Minutes

Approve

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05-27-2026 CRA Board Minutes.pdf

5.

TAMIAMI TRAIL CRA

a)

Community Redevelopment Agency : Second Amendment to Purchase and Sale Agreement with PHBGF Ventures, LLC

Pending Action of City Council

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Second Amendment - Met IIB CRA PSA.pdf

6.

AGENDA BRADENTON COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING 2:00 p.m. Wednesday, June 10, 2026 COUNCIL CHAMBERS - 101 OLD MAIN STREET 1. MEETING CALLED TO ORDER 2. PLEDGE OF ALLEGIANCE 3. CITIZEN COMMENTS Citizen comment will be accepted during the Citizen Comment portion of the meeting on any non-agenda item, agenda item, future agenda item or topic of relevance to the Community Redevelopment Agency of the City of Bradenton. Comments will be accepted on the public hearings at the appropriate time. 4. CONSENT AGENDA a) Community Redevelopment Agency: CPTED Grant Application from AJA Business Holdings LLC. for a property located at 2514 9th St West b) Community Redevelopment Agency: Tamiami Trail Community Advisory Committee Application: Resolution CRA 26-03 Resolution_CRA_Appoint_Bryan Moore to TTCAC (1).pdf c) Community Redevelopment Agency: Tamiami Trail Community Advisory Committee Application: Resolution CRA 26-04 Resolution_CRA_Appoint_Wayne_Chuck_Nappi_to_TTCAC-V1.pdf d) Community Redevelopment Agency: May 27, 2026, Community Redevelopment Agency Board Meeting Minutes 05-27-2026 CRA Board Minutes.pdf 5. TAMIAMI TRAIL CRA a) Community Redevelopment Agency: Second Amendment to Purchase and Sale Agreement with PHBGF Ventures, LLC Second Amendment - Met IIB CRA PSA.pdf 6. OTHER DISCUSSION / NEW BUSINESS 7. ADJOURN RULES OF PROCEDURE FOR AGENDA AND PUBLIC APPEARANCES BEFORE THE CRA BOARD 1

Please place cell phones on silent mode! Non-Discrimination Statement: The City of Bradenton prohibits discrimination in all of its services, programs or activities on the basis of race, color, age, disability, sex, national origin, religion, genetic information or marital status. Persons with a disability needing a reasonable accommodation to participate in, or who require assistance or an alternative means for communication of program information, should contact: City of Bradenton ADA/Title VI Coordinator 101 Old Main Street Bradenton, FL 34205 ADACoordinator@cityofbradenton.com 941-932-9400 TTY: 7-1-1 or 1-800-955-8771 La ciudad de Bradenton proveera servicio de interprete a las personas quienes su primer lenguage no es el ingles. Si necesita estos servicios, usted o su representante puede comunicar al ADA/Title VI Coordinator, 101 Old Main Street, Bradenton, FL 34205. También, puede llamar al (941) 932-9470 o enviar correo electrónico a ADACoordinator@cityofbradenton.com. AT COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING: Citizen comment will be accepted during the Citizen Comment portion of the meeting on any non-agenda item, agenda item, future agenda item or topic of relevance to the CRA. Citizen comment related to any public hearing item shall be provided during the duly noticed public hearing in order to maintain an accurate record of the proceedings. All citizen comments related to quasi-judicial items are required to be under oath and such comments will be invited to be presented during the duly noticed public hearing for such items. If an individual (or agent) wishes to address the CRA Board, they should complete a comment card available at the back of the Chamber and submit such card to the CRA Program Administrator. At the appropriate time during the meeting, the Chair will call speakers to come forward. After being recognized by the Chair, the individual should come to the 2

podium and, for the public record, state their name and address, and then provide any relevant comments or testimony related to the item they wish to address. In the case of an agent, they shall identify themselves and the party they represent. The speaker should then proceed to state their position or present their information. An individual appearance for citizen comment will be limited to three (3) minutes unless additional time is permitted by the Chair or consensus of the CRA Board. Additional time will be allowed (up to 10 minutes at the discretion of the Chair or consensus of the CRA Board) for public hearing items if the speaker is officially representing a group of five or more people, provided that written authorization is provided that the person is authorized to speak on behalf of the group. Note: If handouts are being distributed, please provide a minimum of ten (10) copies to the Program Administrator. If you wish to display a drawing or rendering, contact Karen Kyser, as indicated above, prior to the meeting. Any submissions commented on, photographs, letters, renderings, etc. will be kept by the CRA for the official record. 3

AGENDA ITEM NO. 4.a Item Cover Page DATE: June 10, 2026 SUBMITTED BY: Todd Campbell, Community Redevelopment Agency ITEM TYPE: Miscellaneous AGENDA SECTION: CONSENT AGENDA SUBJECT: CPTED Grant Application from AJA Business Holdings LLC. for a property located at 2514 9th St West SUGGESTED ACTION: Approve COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING AGENDA ITEM REPORT Is this item Quasi-Judicial? No Does this item require a public hearing? No EXPLANATION: AJA Business Holdings LLC. (applicant) submitted an application for a CPTED Grant for a property located at 2514 9th Street West. The applicant is estimating a total investment of $39,533.00 in improvements which will include perimeter fencing according to CPTED guidelines per the recommendations of the BPD. Although the grant amount falls within Executive Director approval threshold this is a stacking grant due to the prior approval of a Redevelopment Grant on May 27th, 2026, requiring CRA Board approval. FINANCIAL IMPACT: Up to $15,000 SUGGESTED MOTION: Move to approve a CPTED Grant for AJA Business Holdings LLC. in an amount up to $15,000 for a property located at 2514 9th Street West. ATTACHMENTS: 4

AGENDA ITEM NO. 4.b Item Cover Page DATE: June 10, 2026 SUBMITTED BY: Todd Campbell, Community Redevelopment Agency ITEM TYPE: Resolution AGENDA SECTION: CONSENT AGENDA SUBJECT: Tamiami Trail Community Advisory Committee Application: Resolution CRA 26-03 SUGGESTED ACTION: Approve COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING AGENDA ITEM REPORT Is this item Quasi-Judicial? No Does this item require a public hearing? No EXPLANATION: CRA staff received an application from Bryan Moore expressing his interest to sit on the Tamiami Trail Community Advisory Committee. The applicant meets the requirements of the CAC Policies approved by the CRA Board on November 16, 2023. FINANCIAL IMPACT: NA ATTORNEY REVIEW/RECOMMENDATION: Attorney reviewed SUGGESTED MOTION: Move to approve Bryan Moore to serve on the Tamiami Trail Community Advisory Committee. ATTACHMENTS: Resolution_CRA_Appoint_Bryan Moore to TTCAC (1).pdf 5

2967150v1 COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BRADENTON RESOLUTION CRA 26-03 A RESOLUTION OF THE BOARD OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BRADENTON APPOINTING BRYAN MOORE TO THE TAMIAMI TRAIL COMMUNITY ADVISORY COMMITTEE AND DEFINING THE TERM. WHEREAS, the Community Redevelopment Agency of the City of Bradenton is desirous of appointing outstanding members of the community to the Tamiami Trail Community Advisory Committee; and WHEREAS, MUBryan Moore meets the eligibility criteria to be on the Tamiami Trail Community Advisory Committee as outlined in Resolution CRA 26-03. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BRADENTON, FLORIDA, THAT: BRYAN MOOREis hereby appointed to the Tamiami Trail Community Advisory Committee for a term to expire April 2028. PASSED AND DULY ADOPTED, BY THE BOARD OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BRADENTON, FLORIDA, with a quorum present and voting, this th day of JXQH, 2026. ATTEST: ______________________________ _____________________________ Jeff Burton Kemp Schuessler Executive Director Chair APPROVED AS TO FORM: _______________________________ Scott Rudacille CRA Attorney 6

AGENDA ITEM NO. 4.c Item Cover Page DATE: June 10, 2026 SUBMITTED BY: Todd Campbell, Community Redevelopment Agency ITEM TYPE: Resolution AGENDA SECTION: CONSENT AGENDA SUBJECT: Tamiami Trail Community Advisory Committee Application: Resolution CRA 26-04 SUGGESTED ACTION: Approve COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING AGENDA ITEM REPORT Is this item Quasi-Judicial? No Does this item require a public hearing? No EXPLANATION: CRA staff received an application from Wayne "Chuck" Nappi expressing his interest to sit on the Tamiami Trail Community Advisory Committee. The applicant meets the requirements of the CAC Policies approved by the CRA Board on November 16, 2023. FINANCIAL IMPACT: NA ATTORNEY REVIEW/RECOMMENDATION: Attorney reviewed SUGGESTED MOTION: Move to approve Wayne "Chuck" Nappi to serve on the Tamiami Trail Community Advisory Committee. ATTACHMENTS: Resolution_CRA_Appoint_Wayne_Chuck_Nappi_to_TTCAC-V1.pdf 7

2967150v1 COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BRADENTON RESOLUTION CRA 26-04 A RESOLUTION OF THE BOARD OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BRADENTON APPOINTING WAYNE "CHUCK" NAPPI TO THE TAMIAMI TRAIL COMMUNITY ADVISORY COMMITTEE AND DEFINING THE TERM. WHEREAS, the Community Redevelopment Agency of the City of Bradenton is desirous of appointing outstanding members of the community to the Tamiami Trail Community Advisory Committee; and WHEREAS, Mr. Wayne "Chuck" Nappi meets the eligibility criteria to be on the Tamiami Trail Community Advisory Committee as outlined in Resolution CRA 26-04. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BRADENTON, FLORIDA, THAT: WAYNE "CHUCK" NAPPI is hereby appointed to the Tamiami Trail Community Advisory Committee for a term to expire April 2028. PASSED AND DULY ADOPTED, BY THE BOARD OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BRADENTON, FLORIDA, with a quorum present and voting, this 10th day of June, 2026. ATTEST: ______________________________ _____________________________ Jeff Burton Kemp Schuessler Executive Director Chair APPROVED AS TO FORM: _______________________________ Scott Rudacille CRA Attorney 8

AGENDA ITEM NO. 4.d Item Cover Page DATE: June 10, 2026 SUBMITTED BY: Karen Kyser, Community Redevelopment Agency ITEM TYPE: Minutes AGENDA SECTION: CONSENT AGENDA SUBJECT: May 27, 2026, Community Redevelopment Agency Board Meeting Minutes SUGGESTED ACTION: Approve COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING AGENDA ITEM REPORT Is this item Quasi-Judicial? No Does this item require a public hearing? No EXPLANATION: May 27, 2026, Community Redevelopment Agency Meeting Minutes. FINANCIAL IMPACT: N/A ATTORNEY REVIEW/RECOMMENDATION: N/A SUGGESTED MOTION: Approve ATTACHMENTS: 05-27-2026 CRA Board Minutes.pdf 9

5-27-2026 CRA Meeting Minutes Page 1 of 2 CITY OF BRADENTON COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING MINUTES May 27, 2026 2:00 p.m. The Community Redevelopment Agency (CRA) Board met in the City Hall Council Chamber, 101 Old Main Street, Bradenton, Florida, at 2:00 p.m. on Wednesday, May 27, 2026. Present: Chair Kemp Schuessler, Vice Chair Lisa Gonzalez Moore, Board Member Pam Coachman, Board Member Marianne Barnebey, and Board Member Jayne Kocher. CRA Staff: Jeff Burton, CRA Executive Director; Chris Munyon, CRA Manager; Karen Kyser, Program Administrator; Todd Campbell, CRA Coordinator; and Scott Rudacille, CRA Attorney. The meeting was called to order by Chair Schuessler at 2:00 p.m. CITIZEN COMMENTS: None. CONSENT AGENDA: a) Community Redevelopment Agency: Resolution CRA BA 26-01 Budget Adjustment for Fund 131 (Central CRA District) b) Community Redevelopment Agency: Resolution CRA BA 26-02 Budget Adjustment for Fund 132 (Downtown CRA District) c) Community Redevelopment Agency: Resolution CRA BA 26-03 Budget Adjustment for Fund 133 (Tamiami Trail CRA District) d) Community Redevelopment Agency: April 22, 2026, Community Redevelopment Agency Board Meeting Minutes e) Community Redevelopment Agency: Redevelopment Grant Application from AJA Business Holdings LLC. for a property located at 2514 9th Street West. f) Community Redevelopment Agency: Infrastructure Grant Applications from Three J Group LLC for properties located at 214, 218, 222, and 226 8th Avenue Drive West. MOTION TO APPROVE THE CONSENT AGENDA was made by Board Member Kocher and seconded by Board Member Coachman. The motion passed 4-0 with Board Member Barnebey out of the room. OTHER DISCUSSION/NEW BUSINESS Jeff Burton, CRA Executive Director, stated that the CRA department was adjusting their grants program to be more efficient for staff and new businesses. He 10

5-27-2026 CRA Meeting Minutes Page 2 of 2 referenced the City of Palmetto recently increased their grant amount. He added that with the increased cost of building materials and labor he felt that a reevaluation was needed. Mr. Burton noted that the budget adjustments on the consent agenda contained carry-over funds from the three CRAs. Todd Campbell, CRA Coordinator, informed the Board that the CRA applied for a grant with Florida Department of Transportation to enhance the Freebee service used by the CRA. Mr. Burton provided an update on the bidding process for Love Park and mentioned that the item was scheduled for the July 22, 2026, City Council meeting. Following questions from Board Members regarding the delayed schedule, he discussed the City’s current purchasing policy and offered recommendations to streamline the process. Mr. Burton stated that the CRA will work with the City on a solution for the workforce housing concern Board Member Kocher had with the Met IV extension that passed at the May 27, 2026, City Council Meeting. The meeting was adjourned by Chair Schuessler at 2:10 p.m. 11

AGENDA ITEM NO. 5.a Item Cover Page DATE: June 10, 2026 SUBMITTED BY: Christopher Munyon, Community Redevelopment Agency ITEM TYPE: Agreement AGENDA SECTION: TAMIAMI TRAIL CRA SUBJECT: Second Amendment to Purchase and Sale Agreement with PHBGF Ventures, LLC SUGGESTED ACTION: Pending Action of City Council COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING AGENDA ITEM REPORT Is this item Quasi-Judicial? No Does this item require a public hearing? No EXPLANATION: On October 30, 2024, the CRA (Seller) entered into a Purchase and Sale Agreement with PHBGF Ventures, LLC (Purchaser) for CRA owned Parcel ID No. 4408900059, 4409300052, and 4409900000. On May 14, 2025, the CRA Board approved the First Amendment to the Purchase and Sale Agreement with PHBGF Ventures, LLC. This Second Amendment to the Purchase and Sale Agreement replaces Exhibit "C" (the original form of LURA) in its entirety with the updated form Exhibit "C-1" (attached). Changes include: 1. City of Bradenton to be a party to the LURA (Exhibit "C-1"). 2. Owners' request for a waiver of impact fees from the City, including Parks, Fire, Police, Roads, Water, and Sewer. 3. Modification of Construction Schedule. 12

ATTORNEY REVIEW/RECOMMENDATION: CRA Attorney reviewed the documents for legal sufficiency SUGGESTED MOTION: To be determined pending action of City Council ATTACHMENTS: Second Amendment - Met IIB CRA PSA.pdf 13

1 5588475v15588475v15581426v1 SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT THIS SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) is made as of the ____ day of ___________, 2026 (“Amendment Effective Date”), by and between, THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BRADENTON successor in interest to THE BRADENTON DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF BRADENTON, a public body of the State of Florida (“Seller”), and PHBGF Ventures, LLC, a Florida limited liability company (“Purchaser”). RECITALS WHEREAS, Seller and Purchaser have entered into that certain Purchase and Sale Agreement, with an Effective Date of October 30, 2024, as amended by that certain First Amendment to Purchase and Sale Agreement, dated May 14, 2025 (collectively, the “Agreement”), with respect to certain real property located in Manatee County, Florida; and WHEREAS, Seller and Purchaser have agreed to modify the form of the LURA as originally attached to the Agreement; and WHEREAS, Seller and Purchaser desire to amend the Agreement in the manner set forth herein. AGREEMENT NOW, THEREFORE, for and in consideration of the sum of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Seller and Purchaser hereby agree as follows: 1. LURA. The agreed upon form of the LURA, originally attached as Exhibit “C” to the Agreement, is hereby replaced in its entirety with an updated form attached hereto as Exhibit “C-1”. Changes made from the initial form of the LURA are shown in tracked changes for purposes of this Amendment; however, at Closing, a clean copy of the LURA shall be executed. 2. Ratification. Except as expressly modified herein, all other terms, covenants and provisions of the Agreement shall remain in full force and effect. 3. Miscellaneous. In the event of a conflict between the terms and provisions of the Agreement and the terms and provisions of this Amendment, the terms and provisions of this Amendment shall control. This Amendment may be executed in one or more counterparts, the signature pages of which may be combined to constitute one instrument. Signatures transmitted by facsimile or e-mail, through scanned or electronically transmitted .pdf, .jpg or .tif files, or electronically signed documents, shall have the same effect as the delivery of original signatures and shall be binding upon and enforceable 14

2 5588475v15588475v15581426v1 against the parties hereto as if such facsimile or scanned documents or electronically signed documents were an original executed counterpart. [Signatures appear on the following pages] IN WITNESS WHEREOF, the parties hereto, intending legally to be bound hereby, have executed this Amendment as of the date first above written. PURCHASER: PHBGF VENTURES LLC, a Florida limited liability company By: PEARL HOMES HOLDINGS, LLC, a Delaware limited liability company, its Member By: ________________________ Marshall S. Gobuty, as Manager Date of Execution: _______________________ By: BG FRAMEWORK, LLC, a Florida limited liability company, its Member By: Framework Development, LLC, a Florida limited liability company, as Manager By:________________________ Phillip A. Smith, as Manager Date of Execution: _______________________ SELLER: THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF BRADENTON, a public body of the state of Florida By: Print Name: Title: Date of Execution: 15

3 5588475v15588475v15581426v1 Exhibit C-1 LURA LAND USE RESTRICTION AGREEMENT FOR: PHBGF VENTURES, LLC THIS LAND USE RESTRICTION AGREEMENT (hereinafter “Agreement”) is made and entered into as of the ____ day of ______________, 20___, by and between the City of Bradenton, a municipal corporation existing by and under the laws of the State of Florida (“City”), the Community Redevelopment Agency of the City of Bradenton, a dependent special district of the City of Bradenton (hereinafter referred to as the “CRA”), and PHBGF Ventures, LLC, a Florida limited liability company (hereinafter referred to as the “Owner”). RECITALS WHEREAS, the Owner has acquired from the CRA the land legally described in Exhibit A (hereinafter, the “Land”) for the purpose of constructing a Project (as defined herein) inclusive of workforce multifamily rental housing for low- to moderate-income households, as defined herein; and WHEREAS, Owner submitted a proposal and presented information to the CRA (collectively the “Proposal”), and was selected for purchase of the Land for the specific purpose of constructing and operating the Project, inclusive of workforce multifamily rental housing, consistent with the terms of such Proposal; and WHEREAS, the Owner requested, as part of the Proposal, financial incentives from the CRA in order to construct the Land with workforce multifamily rental housing, and the CRA has agreed to provide these financial incentives for this purpose, subject to the provisions of this Agreement; and WHEREAS, the Owner has requested, as part of the Project, a waiver of certain impact fees from the City in order to construct the Project with workforce housing, and the City has agreed to provide this waiver for this purpose; and WHEREAS, the Owner agreed to comply with certain use restrictions as provided in this Agreement. NOW, THEREFORE, in consideration of the above premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: SECTION 1 DEFINITIONS 1.1 Definitions and Interpretations. Unless otherwise expressly provided herein or unless the context clearly requires otherwise, the following terms shall have the respective meanings set forth below for purpose of this Agreement. (a) Project: the improvements to be constructed on the Land, which include approximately 114 units of multifamily rental housing, with a minimum of 70% of the units being workforce housing, and the Land and all moveable property and fixtures from time to time attached thereto. 16

4 5588475v15588475v15581426v1 (b) Rental Housing: housing units made available for rental, and not ownership, each of which units shall contain complete living facilities that are to be used other than on a transient basis and facilities that are functionally related and subordinate to the living facilities. The housing units shall at all times be constructed or substantially rehabilitated and maintained in substantial accordance with applicable building code standards of the City in which they are located. (c) Workforce Housing: housing for low- to -moderate income households, with rents based on the rent limits applicable to 80 to 120 percent of Area Median Income (“AMI”), as posted annually by the Florida Housing Finance Corporation (“FHFC”) and adjusted based on revised local data for Manatee County. SECTION 2 REPRESENTATIONS, COVENANTS AND COMMITMENTS 2.1 Residential Workforce Housing Rental Project. The Owner shall develop and maintain during the Term of this Agreement the Project as a multifamily Rental Housing development consisting of approximately one hundred and fourteen (114) dwelling units, with a minimum of 70% of the units being designated and set aside for Workforce Housing. The Project shall be constructed in substantial accordance with the design elevations and/or renderings approved by CRA staff. All dwelling units in the Project shall be Rental Housing available for occupancy at all times in accordance with the terms of this Agreement. The Project shall be required to obtain all necessary permits and approvals for construction, including applicable permits of the City, and nothing contained herein shall be construed as development approval. Upon execution of this Agreement, Owner shall diligently and in good faith pursue all applicable permits for construction of the Project, and upon issuance shall diligently and in good faith pursue and complete construction thereof. 2.2 Certain Owner Commitments and Agreements. At all times during the Term, Owner shall comply and cause the Project to comply with the following commitments, which commitments shall be considered covenants running with the land under State law: The Project shall be constructed and operated as a Workforce Housing Rental Project. The Project shall contain approximately 114 units of Rental Housing with a minimum of 70% of those units being made affordable to low- or moderate-income households, with rents set by Owner based on the AMI levels and rent limits, not to exceed rent limits of 120% of AMI. The rents for those Workforce Housing units shall be in accordance with the definition of Workforce Housing contained herein, and calculated based on the rent limits posted annually by FHFC by unit type and AMI percentage category. The rents set by Owner for the Project shall be permitted to increase as AMI increases and as adjusted by FHFC, but in no instance shall the rents be set lower than those rent limits set forth in the FHFC rent limits for the calendar