9/9 FRI 09:30 | Financing Public Waterfront Access - Jupiter

Financing Public Waterfront Access and
Enjoyment: Jupiter, a case study

FAPA Conference 2011

How would we feel if our
“special places” were lost?


“Make No Small Plans”

• Concerned with the
potential loss of
public access to the
water, the Council,
the Town decided to
reject a plan for
public access on one
parcel and focus on
the entire Intracoastal
and Inlet.
Aerial view of vacant lands along US1


Goal: Provide physical and
visual access to the waterfront.

Aerial view of vacant lands along US1FAPA Conference 2011

The Town implemented a series of public workshops and
hired consultants to study the feasibility and develop a
corridor map that would show the alignment and develop a
cost estimate of the improvements.

Inlet Village Vision- “Funky Village”


Result:
Riverwalk
Plan


Riverwalk- phase 1 Phase 2 - Inlet Village
New Development, Intracoastal “funky village”, small scale,
access to nature infill


Linear Recreation Corridor with a
Variety of Experiences:
• Jupiter Ridge Natural Area • Entertainment District
• Residential, mixed use • Inlet Village


How do we
accomplish the goals.
• Providing for the
easement of a
Riverwalk on private
and public land.

• Providing funding.

• Creating the
Comprehensive Plan
polices and zoning
regulations.


Create a working relationship with
property owners and environmental
agencies.


And You Want How Much??
1998 Riverwalk
Estimated Funding Needs…………….$26 million

Estimated Developer Commitment…………….$4.65 million
(3 projects)

Estimated Public Funding …………………$ 21.35 million
(Town of Jupiter and other Public agencies)


Funding Challenges - Sources

• Grants • CDD -Community
Federal, State, Development District
(i.e. rec., transp.) • Special assessments
FIND- Florida Inland • Shared amenities with
Navigation District • shared costs
• Palm Beach County • EB-5 funding program
• State Appropriation • Thru LDRs
Request Incentives for amenities
• CRA TIF (tax increment Incentives for RW ded.
financing)
Require RW easement
• Land swaps

Implementing the plan


Strategic land purchases.
Comerford (bridging the gap)
First Union property in Entertainment District from FDOT exchange
Piatt Place
Town 2 acres in Inlet Village (parking)
Inlet Village Marina
ROWs (Lighthouse Promenade, Clemons, Love, that dead end into water)
Future purchases that will help make area/redevelopment a reality


Financing Public
Waterfront Access
The Vision


Financing Public
Waterfront Access
• The Mayor’s vision of providing public access to Jupiter’s waterways
and the Jupiter Inlet, based, in part, on Jupiter’s history as a fishing
village.

• This concept began in the mid 1990s close in time to the emphasis of
visioning in the planning profession, and amendments to Chapter
163, the Growth Management Act.

• Section 163.3167(11), Florida Statutes:
Each local government is encouraged to articulate a vision of the
future physical appearance and qualities of its community as a
component of its comprehensive plan.


Incorporating the “Riverwalk” into the
Comprehensive Plan:
• The “Riverwalk” became
the vehicle for the
delivery of the vision of
public access to Jupiter’s
waterways.

• The Riverwalk vision was
then incorporated into the
Town’s Comprehensive
Plan in the form of
Objectives (1.9 and 1.10)
and Policies.

• The Policies provide that the Riverwalk Objectives and
Policies which provide for public access would be
implemented by LDRs to be applied to developing and
re-developing properties. Among other things, the LDRs
require property owners to provide:
1. Vistas of the Intracoastal Waterway (ICW)
2. Public open spaces & squares
3. Waterfront orientation for development
4. A publically accessible walkway along the ICW through
a requirement to dedicate a 25 foot Easement.


Legal Issues
• The requirement to dedicate open space, greens, vistas
and particularly an easement by waterfront property
owners was and still is the subject of some controversy.
• To put this controversy into context, consider that
immediately preceding the development of the Riverwalk
Objectives, Policies and LDRs, the U.S. Supreme Court
rendered its opinion in the “takings” case of Dolan v. City
of Tigard. The facts in this case gave the Town reason to
pause.


DOLAN
• As a result of policies and LDRs adopted by the City of
Tigard, a city approximately the same size as Jupiter at
the time of this litigation, Mrs. Dolan was required to
dedicate a portion of her property so that the City could
create a bicycle/pedestrian pathway. This dedication was
a condition of receiving a building permit to expand her
business. The U.S. Supreme Court held that there was
not a sufficient “nexus” between the City’s dedication
requirements and the expansion of Mrs. Dolan’s
plumbing and business.

• As a result, the question posed to me was,
“Can you defend the requirement for a
Riverwalk?”


My Answer:
GULP, Maybe!?!


• To avoid a takings claim, the Town set out to
develop a nexus between the Riverwalk and the
development or redevelopment of properties.
• The Town sought to create a nexus by increasing
the value of properties located along the Riverwalk
corridor in exchange for the provision of opens
space, vistas, and the dedication of an Easement.
• An incentive program was developed, including
development intensity and density bonuses.
• Concerns for liability has led some property owners
to dedicate the land in fee rather than to convey by
easement.
• Conveyance of the fee also provides a property
owner with a modest tax savings.


Has it worked?

Yes.

More on that from the speakers who follow.


Creation of a Community
Redevelopment Agency
• The Town wanted a
dedicated funding source
to construct the Riverwalk
and its amenities upon the
properties being
dedicated for the
Riverwalk.


Creation of a Community
Redevelopment Agency
• A planning visionary, Sam
Shannon, who was the
Town’s Community
Development Director at
the time proposed the
creation of a CRA.
• Problem: Most people did
not see Jupiter as a
community that has a
need for a CRA,
particularly for the
redevelopment of water
front properties.


Finding Slum and Blight in
Jupiter
• In order to create a
CRA, certain legislative
findings must be made.
In particular, there
must be a finding and
the Town Council had
to declare that:


• A portion of Jupiter could be considered a “slum and
blighted area which constituted a serious and growing
menace”; that the existence of such area contributes …to
the spread of disease and crime; constituted an
economic and social liability imposing onerous burdens
which decrease the tax base; substantially impairs or
arrests sound growth; aggravates traffic problems, and
substantially hampers the elimination of traffic
hazards and the improvement of traffic facilities”


REALLY, IN JUPITER ?!?

SERIOUSLY ?!? Along the
waterways of Jupiter?


Undaunted,
the Council
directed staff
to proceed.


• The Council’s findings of necessity for the CRA
concentrated on that portion of the definition of
“blighted” which involved traffic problems.
• It worked: The CRA was created and continues
today as the funding source for Riverwalk.


Conclusion
• As you will learn from the speakers who
follow, the vision has been a long term
project; a mosaic of properties woven
together along a 2 ½ mile historical
waterway corridor.


Brenda Arnold
CRA Program Manager


Riverwalk Funding Sources

50% from Grants & Federal
Appropriation:

 FL Inland Navigation District
 Federal DOT Enhancement
 FL Dept. Environmental Protection
 Federal Appropriation

40% from Developer Contributions

10% from CRA/Town of Jupiter


CRA Dollars Fund:

- Riverwalk Construction on Existing Development
- Riverwalk Construction on Delayed Development
- Purchasing Key Properties
- Acquisition & Construction of Public Gathering Spaces
- Riverwalk Amenities
* Riverwalk Events
* Sponsors
* Holiday Boat Parade - Taste of Tropics – Art Shows


Construction of Riverwalk on Existing Development

•River Plaza
•Best Western
•Jupiter Ridge Natural Area


Construction of Riverwalk on Existing Development

River Plaza

Best Western

Jupiter Ridge Natural Area


Construction of Riverwalk on Delayed Development

• Water Pointe
• Harbourside


Construction of Riverwalk on Delayed Development

Harbourside

Water Pointe


Purchasing Key Properties

• First Union Bank Building
• Piatt Place
• Love Street Lot
• Inlet Village Park


Purchasing Key Properties

Inlet Village Park

First Union Bank Building

Piatt Place
Love Street Lot


Acquisition & Construction of
Public Gathering Spaces

Inlet Village Park

Events Plaza

Lagoon Bridge


RiverwalkAmenities
Riverwalk Amenities

Parking

Public Boat Slips

Water Taxi Dock


Riverwalk Events


Jupiter’s long awaited REDEVELOPMENT project….

Allied Capital & Development FAPA Conference 2011

Public Access
Part of the Riverwalk
Passive Recreational Uses
Walking
Running
Biking


Indiantown Road Bridge

US-1

PROJECT
SITE
8.96 ACRES


Overall Site & Program Breakdown

USE FINAL
1. Restaurant Space 34,855 S.F.
2. Retail Space 55,256 S.F.
3. Office Space 58,791 S.F.
4. Hotel 178 Keys
5. Marina Slips 31 Slips total (22 Leased & 9 Public daily transient)
6. Ancillary Cultural Use 2,500 S.F. 2,500 S.F.

Parking
Garage Building 5 503 spaces
Garage Building 3A 349 spaces
Building 1 0
Surface 77 spaces
929 spaces


Overall Site & Program Breakdown
Site Plan approved December 2008
Architectural Site Plan Approval December 2010

Site Acres 8.96 acres
Riverwalk Length 920 l.f.
FAR 0.63 FAR
Land Use Commercial
Zoning U.S. One/ Intracoastal Waterway
Corridor Zoning District/
Waterway Commercial and
entertainment subdistrict


1. Public Plaza Adjacent To Riverwalk 6 credits
2. Public Restrooms 12 credits
• Building 1 4 Stall Minimum 4 points
• Building 3B 4 Stall Minimum 4 points
• Building 5 4 Stall Minimum 4 points

3. Fountain On The Riverwalk 4 credits
4. Three Additional Vistas 12 credits
5. Nine (9) Public Dock Spaces 18 credits
6. Cultural Use – Amphitheater 2 credits
7. Public Parking Spaces 23 credits
(1/2 Credit per space – 46 spaces)
8. Cultural Use (2,500 s.f.) 3 credits
Total Points Earned 80 pts.

Bonus Credits

4
3
6
4
1
8

7 7
5
2 4 4 2
4

Main Entertainment Plaza (Looking Southeast)

Building 3B Current
Northeast Corner (Looking Southwest)

EB-5 Program

Each year, the U.S. government reserves 3,000 green cards for foreign
investors who invest in designated regional centers through the EB-5 Visa
Program. These initiatives enjoy full government support as they stimulate
the economy, generate at least ten jobs per investment, and promote
community development while providing direct access to green cards for
foreign investors and their families.

The Florida Regional Center has received full approval as a designated
regional center by the United States Citizenship and Immigration Services
(USCIS), this highly-anticipated initiative has been garnering great interest
worldwide for the wealth of development opportunities in the prime paradise
of Florida.

The Florida Regional Center

Immigration &
Investment
Process
Overview

Florida Regional Center


Immigration &
Investment
Process
Overview


Immigration &
Investment Process
Overview


Estimated Funding Schedule
Town Council 10.19.10
Harbourside Place The Florida Regional Center

29-Sep-10

May-11

Aug-11

May-12
Sep-10

Nov-10

Sep-11

Nov-11
Dec-10

Mar-11

Dec-11

Mar-12
Feb-11

Jun-11

Feb-12

Jun-12
Jan-11

Apr-11

Jan-12

Apr-12
Oct-10

Oct-11
Jul-11
Proposed Funding Schedule ####
Florida RC Approved Sept 14th, 2010
Begin Marketing Harbourside Investment
Korean Immigration Expo
China - multiple cities

Number of Investors Per/Month 5 8 10 10 15 15 15 15 15 15 15 15 15 12 180 180
Funds Avail by Mnth following 90 day process 2.5M 4M 5M 5M 7.5M 7.5M 7.5M 7.5M 7.5M 7.5M 7.5M 7.5M 7.5M 6M 90M
Owners Equity Currently Invested $11.2M
First Phase of Investor funding $25 M
Proof of Financing, payment of $150,000.00 Dep
Close on TOJ First Union property $2.5M
Second Phase of Investor Funding $30M
Third Phase of Investor Funding $30M
CDD Bond Proceeds Available $22M
Final Investor Funding $ 5M
Bank Finnacing $21M
FIND Grant Funding $1.685M
Total Funding $145.8M

Proposed Construction Schedule
Mobilization
Land Clearing
Seawall Intallation
Riverwalk Installation
Town Dock Installation
Underground Utilities
Buildings 1 & 2 Start
Buildings 1 & 2 Completion
Ampitheatre and Fountain Installation
Buildings 3 & 5 Start
Buoldings 3 & 5 Completion
Paving, Landscaping.
Building 4 Start
Building 4 Completion

Funding Schedule FAPA Conference 2011

Investors from the following countries
China
Mexico
Russia
Norway
India
Vietnam
Australia

Funding Schedule FAPA Conference 2011

• Pictures of construction
• Talk about find grant and loan to
developer

Looking North

Conclusion
Questions and answers


Questions?


9/9 FRI 09:30 | Financing Public Waterfront Access - Jupiter

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9/9 FRI 09:30 | Financing Public Waterfront Access - Jupiter