Community Redevelopment Agency Board - SPECIAL MEETING

1. Call to Order 2. Invocation 3. Pledge of Allegiance 4. Roll Call 5. Agenda Approval 6. Informational Items and Disclosures by Board Members and CRA Staff: 7. Public Comments Community Redevelopment Agency Board Meeting Monday, January 26, 2026 - 5:00 PM City Hall Chambers, 100 E. Ocean Avenue and Online Meeting 561-737-3256 AGENDA Special CRA Meeting A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda A. Disclosure of Conflicts, Contacts, and Relationships for Items Presented to the CRA Board on Agenda The public comment section of the meeting is for public comment on ALL items on the agenda or items that are not on the agenda. Each speaker will be given a total of three (3) minutes to comment on all items on the agenda; however, the Board retains the right to increase or decrease the three-minute limit prior to the start of public comment. Each public speaker shall be given the same number of minutes unless it becomes necessary to terminate a speaker’s comments in order to maintain orderly conduct and proper decorum in the public meeting. Persons making public comment may not assign or donate their public comment time to another individual to allow that other individual additional time to comment; however, any persons requiring assistance will be accommodated as required by the Americans with Disabilities Act. Prior to addressing the Board, speakers present at the meeting will go to the podium to make their comments and speakers participating virtually will unmute their device at the time requested. Speakers 1

8. Old Business A. Discussion and Consideration of the Third Amendment to the Tax Increment Revenue Funding Agreement between the Boynton Beach Community Redevelopment Agency (BBCRA) and BB1 Development, LLC for the for the Ocean One Project located at 114-222 N. Federal Highway 9. Adjournment may be asked to state their name address for the record. Any person may provide written comment(s) to the Board prior to the Board meeting. NOTICE IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE CRA BOARD WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING, HE/SHE WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE, HE/SHE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDING IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. (F.S. 286.0105) THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED BY THE CRA. PLEASE CONTACT THE CRA, (561) 737-3256, AT LEAST 48 HOURS PRIOR TO THE PROGRAM OR ACTIVITY IN ORDER FOR THE CRA TO REASONABLY ACCOMMODATE YOUR REQUEST. ADDITIONAL AGENDA ITEMS MAY BE ADDED SUBSEQUENT TO THE PUBLICATION OF THE AGENDA ON THE CRA'S WEB SITE. INFORMATION REGARDING ITEMS ADDED TO THE AGENDA AFTER IT IS PUBLISHED ON THE CRA'S WEB SITE CAN BE OBTAINED FROM THE CRA OFFICE. 2

• Attachment I - Letter to Chris Brown - Third Amendment to TIF • Attachment II - Exhibit 1 - Draft Third Amendment to Funding Agreement - Removing Whereas Provision to Add 31 Spaces COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: January 26, 2026 OLD BUSINESS AGENDA ITEM 8.A SUBJECT: Discussion and Consideration of the Third Amendment to the Tax Increment Revenue Funding Agreement between the Boynton Beach Community Redevelopment Agency (BBCRA) and BB1 Development, LLC for the for the Ocean One Project located at 114-222 N. Federal Highway SUMMARY: On June 6, 2024, the CRA and BB1 Development, LLC (“BB1”) entered into a Tax Increment Revenue Funding Agreement. The Agreement required BB1 revise its already-approved site plan to add an additional 31 parking spaces. In addition to the additional 31 spaces, the Agreement also requires BB1 to provide 90 public parking spaces within the parking garage structure, among other requirements. BB1 submitted a revised site plan with and additional 32 spaces; however, after review with the City of Boynton Beach it has been determined that the parking garage will only support an additional 18 spaces. In order to secure its funding and show compliance with the TIRFA, BB1 is requesting to amend the TIRFA to remove the requirement to add the 31 spaces to the site plan. The requirement to include 90 dedicated public parking spaces will not be impacted by proposed amendment. The item before the Board is a proposed contract amendment to remove such term (see Attachments I-IV). FISCAL IMPACT: To be determined by the CRA Board. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan District CRA BOARD OPTIONS: To be determined based on Board direction. ATTACHMENTS: Description 3

• Attachment III - Exhibit 2 - Draft Third Amendment to Funding Agreement - Removing Parking Spaces from 31 to 18 • Attachment IV - Exhibit 3 - June 6, 2024 TIRFA 4

Via Electronic Mail January 23, 2026 Chris Brown Boynton Beach CRA – Executive Director 100 E. Ocean Avenue, 4th Floor Boynton Beach, FL 33435 RE: Ocean One – Third Amendment To The Tax Increment Revenue Funding Agreement Dear Chris, Thank you and Kathryn for meeting with Rob Vecsler and me today to discuss the whereas provision within the TIRFA related to revising my client’s site plan to add 31 parking spaces within the overall garage (Whereas Provision). As you now know, my client is intending to close on funding on Tuesday, and the attorney for the equity partner has questioned whether the site plan was revised and whether we are now in compliance with the TIRFA dated June 6, 2024. As you are also aware, during the permitting process, and shortly following the June meeting, my client did revise the plan adding 32 parking spaces throughout the multiple floors of the parking garage. Unfortunately, after multiple reviews, the City’s plan reviewer required us to eliminate 14 spaces reducing the 32 (31 referenced in the Whereas Provision) to 18 additional spaces above the approved total number of parking spaces. The approved site plan requires 653 parking spaces. The revised site plan submitted in accordance with the Whereas Provision included 685 and the latest revised per the city’s request is 671 parking spaces. The latest plan exceeds the number of spaces required in the approved site plan and there is no impact to the 90 public parking spaces required to be constructed on the second floor. We are respectfully requesting that the CRA approve the deletion of the Whereas Provision as provided in Exhibit 1. I have attached a redline of the requested revision to the TIRFA: 1. Exhibit 1- our request removing the Whereas Provision 2. Exhibit 2- correcting the 31 to 18 parking spaces. 3. Exhibit 3- the TIRFA dated June 6, 2024. 5

Please let me know if you have any questions. Sincerely, Bonnie Miskel, Esq. Miskel Backman, LLP cc: Kathryn Rossmell, Esq. Timothy Tack Vicki Hill Theresa Utterback Bonnie Kicklien Jobara Jenkins Mercedes Coppin Renee Rosario Gabriela Ferreira Vicki Curfman 6

THIRD AMENDMENT TO THE TAX INCREMENT REVENUE FUNDING AGREEMENT This Second Amendment to the Tax Increment Revenue Funding Agreement (hereinafter “Second Amendment”) entered into as of the ___ day of ___________ , 2026, by and between: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III of the Florida Statutes, (hereinafter referred to as “CRA”), with a business address of 100 E. Ocean Avenue, Fourth Floor, Boynton Beach, Florida 33435, a n d BB1 DEVELOPMENT, LLC, a Delaware limited liability company, with a business address of 888 Biscayne Boulevard, Suite 101, Miami, Florida 33132 (hereinafter referred to as the “Developer”). RECITALS WHEREAS, Developer owns the property located at 114 and 222 North Federal Highway, Boynton Beach, Florida (“Property”) and intends to construct within the Property a new mixed-use development comprised of approximately 371 multi-family units with related amenities and approximately 25,000 square feet of commercial space (hereinafter referred to as the “Project”); and WHEREAS, the Property is located within the Boynton Beach Community Redevelopment Area (“CRA Area”); and WHEREAS, the Developer and the CRA entered into the Tax Increment Revenue Funding Agreement approved by the CRA on May 7, 2024,(“Original Agreement”) and subsequently amended such agreement in December, 2025 and January 26, 2025 (as amended, the “Agreement”); and WHEREAS, the Developer requested an amendment to the TIRFA whereas provision within the original agreement to delete the requirements to revise the approved site plan to add 31 parking spaces in addition to the amount approved in the Site Plan as of the Effective Date; and WHEREAS, the CRA has determined that the minor modification of the Agreement is reasonable and furthers the Boynton Beach Community Redevelopment Plan. NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, the sufficiency of which both Parties hereby acknowledge, the Parties agree as follows: Section 1. Incorporation. The recitals above and all other information above are hereby incorporated herein as if fully set forth. 7

Section 2. Amendment. The Developer and the CRA mutually agree to amend the Agreement as follows, with deletions shown as stricken through and additions shown with underlines: WHEREAS, Developer will revise the Site Plan (defined below) to provide an additional 31 parking spaces in addition to the amount approved in the Site Plan as of the Effective Date; and Section 3. Remaining Terms Unchanged. Except as amended herein, all other provisions of the Agreement shall remain unchanged and in full force and effect. (Signatures on the following pages 8

IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first above written. WITNESSES: BB1 DEVELOPMENT, LLC, a Delaware limited liability company (signature of witness) By: (printed name of witness) Print Name: Title: (address of witness) (signature of witness) (printed name of witness) (address of witness) STATE OF __________________ COUNTY OF ________________ BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ___ day of __________________, 2026, by ___________________________________________, as ____________________________________ of BB1 DEVELOPMENT, LLC, a Delaware limited liability company, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) Notary Public, State of _____________________ __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped WITNESSES: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (signature of witness) By: (printed name of witness) Print Name: Title: (address of witness) 9

(signature of witness) (printed name of witness) (address of witness) STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ____ day of ________________, 2026, by ___________________________, as __________________ of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) Notary Public, State of Florida __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped 10

THIRD AMENDMENT TO THE TAX INCREMENT REVENUE FUNDING AGREEMENT This Second Amendment to the Tax Increment Revenue Funding Agreement (hereinafter “Second Amendment”) entered into as of the ___ day of ___________ , 2026, by and between: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III of the Florida Statutes, (hereinafter referred to as “CRA”), with a business address of 100 E. Ocean Avenue, Fourth Floor, Boynton Beach, Florida 33435, a n d BB1 DEVELOPMENT, LLC, a Delaware limited liability company, with a business address of 888 Biscayne Boulevard, Suite 101, Miami, Florida 33132 (hereinafter referred to as the “Developer”). RECITALS WHEREAS, Developer owns the property located at 114 and 222 North Federal Highway, Boynton Beach, Florida (“Property”) and intends to construct within the Property a new mixed-use development comprised of approximately 371 multi-family units with related amenities and approximately 25,000 square feet of commercial space (hereinafter referred to as the “Project”); and WHEREAS, the Property is located within the Boynton Beach Community Redevelopment Area (“CRA Area”); and WHEREAS, the Developer and the CRA entered into the Tax Increment Revenue Funding Agreement approved by the CRA on May 7, 2024,(“Original Agreement”) and subsequently amended such agreement in December, 2025 and January 26, 2025 (as amended, the “Agreement”); and WHEREAS, Developer will revise the Site Plan (defined below) to provide an additional 18 parking spaces in addition to the amount approved in the Site Plan as of the Effective Date; and WHEREAS, the CRA has determined that the minor modification of the Agreement is reasonable and furthers the Boynton Beach Community Redevelopment Plan. NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, the sufficiency of which both Parties hereby acknowledge, the Parties agree as follows: Section 1. Incorporation. The recitals above and all other information above are hereby incorporated herein as if fully set forth. 11

Section 2. Amendment. The Developer and the CRA mutually agree to amend the Agreement as follows, with deletions shown as stricken through and additions shown with underlines: WHEREAS, Developer will revise the Site Plan (defined below) to provide an additional 31 18 parking spaces in addition to the amount approved in the Site Plan as of the Effective Date; and Section 3. Remaining Terms Unchanged. Except as amended herein, all other provisions of the Agreement shall remain unchanged and in full force and effect. (Signatures on the following pages 12

IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first above written. WITNESSES: BB1 DEVELOPMENT, LLC, a Delaware limited liability company (signature of witness) By: (printed name of witness) Print Name: Title: (address of witness) (signature of witness) (printed name of witness) (address of witness) STATE OF __________________ COUNTY OF ________________ BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ___ day of __________________, 2026, by ___________________________________________, as ____________________________________ of BB1 DEVELOPMENT, LLC, a Delaware limited liability company, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) Notary Public, State of _____________________ __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped WITNESSES: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (signature of witness) By: (printed name of witness) Print Name: Title: 13

(address of witness) (signature of witness) (printed name of witness) (address of witness) STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ____ day of ________________, 2026, by ___________________________, as __________________ of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) Notary Public, State of Florida __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped 14

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