CRA ADVISORY BOARD

MINUTES COMMUNITY REDEVELOPMENT AGENCY ADVISORY BOARD OCTOBER 1,2025

CALL TO ORDER

The Community Redevelopment Agency (CRA) Advisory Board of the City of Fort Myers, Florida, met in regular session at Oscar M. Corbin Jr. City Hall, 2200 Second Street, in Council Chambers, its regular meeting place on Wednesday, October 1, 2025 at 5:00 p.m. Present were Jarrett Eady, Chairperson, James Holloway, Vice-Chair, Geraldine Ware, C. Joe Coleman, Blake Bartholomew, and Mike Doyle, Board Members. Also present was Michele Hylton-Terry, Executive Director, Community Redevelopment Agency.

CRA Attorney Ryan Knight attended meeting via Zoom.

Absent: Rachel Smith, Board Member.

Ms. Gerri Ware left the meeting at 6:16 p.m.

PLEDGE OF ALLEGIANCE

The meeting was opened with the Pledge of Allegiance led by Chairperson Eady.

1. PROCLAMATIONS AND SPECIAL PRESENTATIONS

1.1 MR.JARRETT EADY WAS REAPPOINTED TO SERVE ON THE FORT MYERS COMMUNITY REDEVELOPMENT AGENCY (CRA) ADVISORY BOARD FOR A THREE- YEAR TERM EFFECTIVE OCTOBER 1,2025. THROUGH SEPTEMBER 30,2028 - THE OATH OF OFFICE WILL BE ADMINISTERED BY THE CRA EXECUTIVE DIRECTOR.

A motion was not required.

1.2 MR. C. "JOE" COLEMAN WAS REAPPOINTED TO SERVE ON THE FORT MYERS COMMUNITY REDEVELOPMENT AGENCY (CRA) ADVISORY BOARD FOR A THREE- YEAR TERM EFFECTIVE JULY 1, 2025. THROUGH JUNE 28. 2028 - THE OATH OF OFFICE WILL BE ADMINISTERED BY THE CRA EXECUTIVE DIRECTOR.

A motion was not required.

PUBLIC INPUT - AGENDA ITEMS

None.

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2. CONSENT AGENDA

2.1 MINUTES OF COMMUNITY REDEVELOPMENT AGENCY (CRA) ADVISORY BOARD MEETING HELD SEPTEMBER 10,2025.

MOTION: Chairman Eady stated that there were no objections to the consent Agenda, the Item passed with unanimous consent.

3. REGULAR AGENDA

CONSIDERATION OF INCREMENT REBATE REQUEST FROM TOWLES GARDEN LENDER ASSET SPV FOR TOWLES GARDEN PROJECT, 141- UNIT AFFORDABLE SINGLE-FAMILY CONDOMINIUM DEVELOPMENT IN THE NOT-TO-EXCEED AMOUNT OF $5,662,906. PENDING LEE COUNTY AWARD THE PROJECT A $19,500,000.00 HURRICANE IAN COMMUNITY DEVELOPMENT BLOCK GRANT DISASTER RECOVERY (CDBG-DR) GRANT.

Michele Hylton-Terry, Executive Director, Community Redevelopment Agency (CRA), stated that the Item was a consideration of the Increment Rebate request for the Towles Garden project. Jennifer Fisher, Attorney, J. Fisher Law, PLLC, representing Towles Garden Lender Asset SPV LLC., gave a brief introduction of the project and history of ownership of the site. Attorney Fisher, stated that her client recorded a warranty deed in lieu of foreclosure, dated July 2023. Attorney Fisher stated that it was not typical for a lender to want to develop a site with the same commitment as the previous owner, but that they wanted to keep the commitment of the vision and plans for the project. Attorney Fisher stated that the developer's goal was to develop Towles Garden into 141-affordable homes by income qualified buyers. Attorney Fisher stated that the request was for the Advisory Board to recommend approval for a tax increment financing in the amount of $5,662,906, provided in the form of a 95% increment rebate. Dr. Stylianos Vayanos, representative for the developer, stated that they primarily developed in the east coast organizations that they had met with to communicate and discuss the development project. Attorney Fisher stated that Lee County chose this project to invest in and that the County and the developer had come to an agreement on how to move forward. Attorney Fisher then stated the steps forward to get to the approval of a Lee County CDBG-DR funding grant. Ms. Hylton-Terry stated that the approval of the grant would be contingent upon the CDBG-DR and would only go to this developer if they received the resources from the County. Dr. Vayanos stated that all the permits were active, and the civil and site plans were approved. Dr. Vayanos stated that he would want the capital funding secured before they start selling units or the community would be let down if funding was not secured. Ms. Hylton-Terry stated that they were no longer looking at the rate of return for the developer or their financial gap. Ms. Hylton-Terry stated that they were looking to see if the project was eligible under the statutes. Matt Simmons with Maxwell, Hendry, and Simmons, stated that his company did a Needs Analysis along with an Economic Impact Study. Mr. Simmons first reviewed the Economic

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Commissioners with a proposed funding agreement within the next couple months.

MOTION: It was moved by Vice-Chair Holloway, seconded by Mr. Coleman and unanimously carried to recommend that the Community Redevelopment Agency Board of Commissioners approve an Increment Rebate request from Towles Garden Lender Asset SPV for the Towles Garden Project, a 141-unit affordable single-family condominium development, in the not-to-exceed amount of $5,662,906, pending Lee County's award to the project of a $19,500,000 Hurricane lan CDBG-DR grant.

3.2 CROOKED HALOS DOWNTOWN BUSINESS STORM MITIGATION AND RESILIENCY GRANT APPLICATION FOR 75% OF ELIGIBLE EXPENDITURES IN THE NOT-TO-EXCEED AMOUNT OF $15,000.00.

Michele Hylton-Terry, Executive Director, Community Redevelopment Agency (CRA), stated that the owners of the shop received two proposals and they chose the lesser proposal of $15,000. Ms. Hylton-Terry stated that there were studies that needed to be done before any installations could be made. Ms. Hylton-Terry stated that the total request was for $20,000 and the 75% match would be $15,000. Ms. Hylton-Terry stated that the tenant needed to get approval from the property owner before any installation work could be done.

MOTION: It was moved by Vice-Chair Holloway, seconded by Mr. Bartholomew, and unanimously carried to recommend that the Community Redevelopment Agency Board of Commissioners approve Crooked Halos Downtown Business Storm Mitigation and Resiliency grant application for an amount not-to-exceed $15,000.

4. ATTORNEY ITEMS

Michele Hylton-Terry, Executive Director, Community Redevelopment Agency (CRA), stated that the first McCollum Hall listening session was the previous night at Quality Life Center and was well-attended with approximately 40 attendees. Ms. Hylton-Terry stated that several survey responses were received, and that the communication was effective.

None.

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MINUTES Community Redevelopment Agency Advisory Board October 1,2025

PUBLIC INPUT - NON-AGENDA ITEMS

Three-minute time limit per speaker.

None.

ADJOURNMENT - 6:36 p.m. o'clock.

SPECIAL REQUIREMENTS

If you require special aid or services as addressed in the Americans with Disabilities Act (ADA), please contact the CRA Clerk's Office at 239-321-7100 or for the hearing impaired, TDD telephone number (239) 332-2541.

ATTEST: