Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
PR 24916: EXECUTE A TAX ABATEMENT AGREEMENT WITH PLEASUREYELAND, LLC FOR THE DEVELOPMENT OF A WATERPARK
P.R. No. 24916 04/27/26 ht RESOLUTION NO. A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A TAX ABATEMENT AGREEMENT WITH PLEASUREYELAND,LLC FOR THE DEVELOPMENT OF A WATERPARK AND PUBLIC IMPROVEMENTS ON PLEASURE ISLAND WHEREAS,Chapter 312 of the Texas Tax Code authorizes municipalities to enter into tax abatement agreements with property owners for the purpose of promoting economic development and encouraging investment in improvements; and WHEREAS,PleasurEyeland,LLC has expressed an interest in developing and constructing a waterpark on Pleasure Island within the city limits of the City of Port Arthur,Texas("City");and WHEREAS,the City Council of the City of Port Arthur deems it in the best interest of the citizens of Port Arthur to enter into a tax abatement agreement with PleasurEyeland, LLC for the development of a waterpark and public improvements on Pleasure Island. NOW THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PORT ARTHUR,TEXAS: Section 1. That the facts and opinions in the preamble are true and correct. Section 2. That the City Council hereby authorizes the City Manager to execute a tax abatement agreement with PleasurEyeland,LLC, in substantially the same form as attached hereto as Exhibit "A„ Section 3. That a copy of the caption of this Resolution be spread upon the Minutes of the City Council. READ,ADOPTED AND APPROVED on this 5th day of May, A.D., 2026, at a Meeting of the City Council of the City of Port Arthur,Texas,by the following vote: AYES: Mayor: Councilmembers: NOES: CITY OF PORT ARTHUR,TX: Charlotte M. Moses, Mayor ATTEST: Sherri Bellard, TMRC, City Secretary APPROVED AS TO FORM: Roxann Pais Cotroneo,JD, City Attorney APPROVED FO MIN STRATION: Ronald Burton, CP y Manager EXHIBIT "A" (Tax Abatement Agreement) THE STATE OF TEXAS § § KNOW ALL MEN BY THESE PRESENTS: COUNTY OF JEFFERSON § TAX ABATEMENT AGREEMENT BETWEEN CITY OF PORT ARTHUR,TEXAS AND PLEASUREYELAND,LLC This Tax Abatement Agreement ("Agreement") is made and entered into by and between the CITY OF PORT ARTHUR,TEXAS, a home rule municipality located in Jefferson County, Texas, herein referred to as ("City"), and PLEASUREYELAND, LLC, herein referred to as "Property Owner", the owner of the tracts of land with improvements to be constructed thereon, within the corporate limits of Port Arthur, Texas (hereinafter defined). The City Council finds that: a. The City has adopted Guidelines and Criteria for granting tax abatements set forth in its Uniform Tax Abatement Policy; b. The City has approved this Policy by an affirmative vote of a majority of its members at a regularly scheduled council meeting. WHEREAS,upon execution for the sale and purchase of the Property between the Parties, the Property Owner will hold fee title to approximately: Tract 1: 35.24 acres of land out of the H.L. McKee Survey Abstract No. 930, City of Port Arthur Survey Abstract No. 931 and Abstract No. 932, Jefferson County, Texas, located within the corporate limits of Port Arthur, Texas as defined in Section 2 of this Agreement and attached hereto as Exhibit 1; and Tract 2: 1.644 acres of land out of the City of Port Arthur, Abstract Nos. 931 and Abstract No. 932, Jefferson County, Texas, located within the corporate limits of Port Arthur, Texas as defined in Section 2 of this Agreement and attached hereto as Exhibit 2. The above tracts combined shall be herein referred to as the"Property". WHEREAS, the Property Owner will develop and construct a water park on said Property which is located on Pleasure Island, more fully described in Exhibit 3 (the "Improvements," as defined in Section 2 of this Agreement)on the Property,located within the corporate limits of Port Arthur, Texas; and WHEREAS, the performance of the terms, conditions, and programs provided for herein will contribute to the economic development of the City in furtherance of the policies and objectives of the City of Port Arthur; and Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 1 WHEREAS,the City and the Property Owner wish to enter into a tax abatement agreement, which will provide for a five (5) year tax abatement period that will commence on January 1, 2027. NOW THEREFORE, for and in consideration of the mutual covenants and agreements contained herein, the Property Owner and the City hereby agree as follows: 1. Authorization. This Agreement is authorized by the Property Redevelopment and Tax Abatement Act, Chapter 312, Texas Tax Code, as amended, and the Uniform Tax Abatement Policy adopted by the City of Port Arthur, Texas, on April 21, 2026, pursuant to Resolution No. 26-161.The City Council has determined that the terms of the Agreement and the Property subject to this Agreement meet the provisions of the Tax Abatement Policy adopted by the City. 2. Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: Property Owner shall mean the entity that owns taxable real property on the date taxes are abated under this Agreement or any other person or entity to which this Agreement is assigned, in accordance with this Agreement. Certified Appraised Value shall mean the appraised value of the Property and existing improvements as certified by the Jefferson County Appraisal District. City shall mean the City of Port Arthur,Texas. City Council shall mean the governing body of the City. City Manager shall mean the City's city manager or any person designated or authorized to act for the city manager. District shall mean the Jefferson Central Appraisal District. Employee shall mean a person who: (1)Is a direct employee of the Owner employed on-site at the Improvements and paid directly by the Owner; and (2)Regularly works at least forty (40)hours a week at the site of the Improvements, excluding time taken for holidays, vacations, sick leave, or other regular leave. Improvements shall mean the buildings and structures (or portions thereof) and other improvements, including fixed machinery, equipment, and process units, used for commercial or industrial purposes, which are erected or expanded by the Property Owner on the Property as contemplated by Section 6 herein, and generally identified and described in Exhibit 1 and Exhibit 2" attached hereto and incorporated herein for all purposes. Land shall mean the real property as described in Exhibit 1 and Exhibit 2. Local Employment shall mean laborers or skilled craftsmen who reside in Port Arthur, Texas. Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 2 Targeted Business or Industry shall mean a type of business or industry as determined by the City's latest Tax Abatement Guidelines Resolution. Property shall mean the 35.24 acres of land attached hereto as Exhibit 1 and the 1.644 acres of land attached hereto as Exhibit 2 and incorporated herein for all purposes, and all Improvements and Tangible Personal Property currently located thereon, which tracts of land are located within the city limits. Tangible Personal Property shall mean tangible personal property classified as such under the state law, but excluding tangible personal property that was located on the Property at any time prior to the date of execution of this Agreement, and also excluding tangible personal property taxable by the City while owned by the Property Owner any time prior to the date of execution of this Agreement, and excluding inventory and supplies. 3. Administration of Agreement. This Agreement shall be administered by the City Manager or designee of the City. 4. Term. This Agreement shall be effective as of the date of execution hereof and shall continue through 31st day of December, 2031, unless terminated earlier, as provided elsewhere herein; provided, however that the five (5) year abatement period herein provided for shall not commence until 1st day of January, 2027. For purposes of clarification, the abatement shall apply to taxes for the 2027 through 2031 tax years. 5. Tax Abatement. Subject to limitations imposed by law and conditioned on the representations outlined in Section 6 herein below, there shall be granted and allowed hereunder to the Property Owner, a property tax abatement equal to the following percentages of the taxable value on the Improvements constructed or expanded hereunder on the Property and the Tangible Personal Property located on the Property subsequent to the date hereof: Tax Year Period (over$1 Million) Discount (beginning January 1) Abatement Percentage Year 2027 Construction Period 75% Year 1 2028 Year 1 after Construction Period 40% Year 2 2029 Year 2 after Construction Period 30% Year 3 2030 Year 3 after Construction Period 20% Year 4 2031 Year 4 after Construction Period 10% Year 5 Provided, however, if the Certified Appraised Value of the Property for any year during the term of this Agreement is less than the Certified Appraised Value of the Property as of January 1, 2026, the abatement shall not apply to the Improvements and Tangible Personal Property in an amount equal to the difference between the Certified Appraised Value for such year and the Certified Appraised Value as of January 1, 2026. The property tax abatement granted under this Agreement shall apply only to ad valorem taxes on the Improvements, as constructed or expanded, and on Tangible Personal Property. The Certified Appraised Value of the underlying real property shall remain fully taxable. Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 3 The Property Owner represents and warrants that its new capital investment will be over Two Million Eight Hundred and Five Thousand Dollars and 00/100 ($2,805,000.00) on the Improvements by January 1 on the year following the completion of construction of the Improvements. 6. Representations. a) The Property Owner represents that: (1) It has, or will have, an increased taxable interest with respect to Improvements and Tangible Personal Property placed on the Property; (2) The Improvements and Tangible Personal Property to be constructed and/or placed on the Property pursuant to this Agreement are set forth and described and attached hereto as Exhibit 3 and incorporated herein for all purposes; (3) All Improvements placed on the Property will be completed in a workmanlike manner and in compliance with the City building codes in effect at the time such Improvements are erected; (4) The Improvements will be constructed on or before January 1, 2028, and will have a Certified Appraised Value will be over Two Million Eight Hundred Five Thousand Dollars and 00/100 ($2,805,000.00); (5) Beginning on or before January 1, 2029, the Property Owner agrees that eighty to ninety percent (80%-90%) of these full-time positions shall consist of local labor and shall be maintained for the remainder of the term of this Agreement as detailed in Section 19(b). (6) As of the Effective Date of this Agreement, it possesses the financial resources to implement the foregoing representations. b) The City represents that the Property is located within the corporate limits of the Port Arthur, Texas. c) The Property Owner and the City represent that no member of the City Council or Planning Commission owns or leases the Property, Improvements, or Tangible Personal Property. 7. Discrimination. The Property Owner agrees to make all hiring decisions in compliance with the Civil Rights Act of 1964. The Property Owner shall not discriminate against any employee or applicant for hire on the basis of race, religion, color, sex, sexual orientation, national origin,age or disability. The Property Owner agrees to aggressively seek to provide equal employment opportunity for all. Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 4 8. Environmental Compliance. Within the City of Port Arthur and its Extraterritorial Jurisdiction the Property Owner shall not violate any federal, state or local legislation or regulations prohibiting or regulating deleterious effects on the environment. 9. Property Use. Property Owner warrants that the uses of the Property subject to this agreement shall be consistent with the general purpose of encouraging development and/or redevelopment of the zone with the Abatement Term, and the purposes set out in this Agreement. 10. Property Owner agrees to work with City as reasonably requested to effectuate all of the terms and conditions of this Agreement. 11. Confidentiality. Property Owner acknowledges and agrees that information provided to the City in connection with its applications for tax abatement that describes specific processes or business activities to be conducted or the equipment or other property to be located on the property for which tax abatement is sought is confidential and not subject to public disclosure until the tax abatement agreement is executed, at which time that information in the custody of the City is no longer confidential. 12. Amendment. Amendment or modification of this agreement can only be made by written instrument subscribed to by both parties so long as those amendments or modifications reflect provisions which could have been included in this agreement under the Guidelines in effect on the date of approval of this Agreement. 13. Administrative. a) Access to and Inspection of Property by Municipal Employees. The Property Owner shall allow City's employees and/or designated representatives of the City access to the Improvements for the purpose of inspecting any Improvements erected to ensure that such Improvements are completed and maintained in accordance with the terms of this Agreement and to ensure that all terms and conditions of this Agreement are being met. All such inspections shall be made only after giving the Property Owner twenty-four(24)hours advance notice and shall be conducted in such manner as to not unreasonably interfere with the construction and/or operation of the Improvements. All such inspections shall be made with one (1) or more representatives of the Property Owner and in accordance with all applicable safety standards. Upon completion of construction, the designated representative of the City shall evaluate annually each facility receiving abatement to ensure compliance with the Agreement, and a format report shall be made to the City Council. b) On January 1 of each year that this Agreement is in effect, the Property Owner shall certify to the City, and to the governing body of each taxing unit, that the Property Owner is in compliance with each applicable term of this Agreement. c) The Chief Appraiser of the Jefferson County Appraisal District shall determine annually(i)the Certified Appraised Value of the Property, Improvements, and Tangible Personal Property and (ii) the taxable value, pursuant to the terms of abatement under this Agreement, of the Property,Improvements, and Tangible Personal Property. The Chief Appraiser shall record both the abated taxable value and the Certified Appraised Value in the appraisal Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 5 records. The Certified Appraised Value listed in the appraisal records shall be used to compute the amount of abated taxes that are required to be recaptured and paid in the event this Agreement is terminated in a manner that results in recapture. During the term of this Agreement, each year, the Property Owner shall furnish the Chief Appraiser with such information outlined in Chapter 22,Texas Tax Code, as may be necessary for the administration of the abatement specified herein. 14. Default: a) The City may declare a default hereunder if the Property Owner (1) fails, refuses, or neglects to comply with any of the terms, conditions, or representations of this Agreement and fails to cure during the cure period; or (2) allows ad valorem taxes owed to the City to become delinquent and fails either to cure during the cure period or to timely and properly follow the legal procedures for their protest or contest. b) If the City declares a default on this Agreement, this Agreement shall terminate(after notice and opportunity to cure as provided for herein), and the City, in such event, shall be entitled to recapture any and all property taxes which have been abated as a result of this Agreement. The City shall notify the Property Owner of any default in writing in the manner prescribed herein. The notice shall specify the basis for the declaration of default,and the Property Owner shall have sixty (60) days from the date of such notice to cure any default; provided, however,where fulfillment of any obligation requires more than sixty(60)days,performance shall be commenced within sixty (60) days after the receipt of notice, and such performance shall be diligently continued until the default is cured. If the default cannot be cured, or if the Property Owner fails to cure within the period herein specified, the Property Owner shall be liable for and will pay to the City within sixty (60) days following the termination of this Agreement (1) the amount of all property taxes abated under this Agreement, (2) interest on the abated amount at the rate provided for in the Texas Tax Code for delinquent taxes, and (3) penalties on the amount abated in the year of default at the rate provided for in the Texas Tax Code for delinquent taxes. c) Notwithstanding any other provision contained herein to the contrary,in the event of termination of this Agreement due to the default of the Property Owner, the Property Owner's obligation to pay the City any property taxes that have been abated on Improvements and Tangible Personal Property, plus applicable penalty and interest thereon as herein provided, shall not terminate until the abated taxes, plus penalty and interest, are paid. 15. Changes in Tax Laws. The tax abatement provided in this Agreement is conditioned upon and subject to any changes in the state tax laws during the term of this Agreement. 16. Compliance with State and Local Regulations. Nothing in this Agreement shall be construed to alter or affect the obligations of the Property Owner to comply with any ordinance, rule, or regulation of the City or laws of the State of Texas. 17. Assignment of Agreement. This Agreement may not be assigned by the Property Owner, without the approval of the City by resolution of the City Council. The approval of any assignment shall be subject to the financial capacity of the assignee and will require that all conditions and obligations in this Agreement shall be assumed by the assignee. No assignment shall be approved if(a) the City has declared a default hereunder that has not been cured, or (b) Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 6 the assignee is delinquent in the payment of ad valorem taxes owed to the City. Approval by the City shall not be unreasonably withheld. 18. Conditions Precedent. This Agreement is conditioned entirely upon (a) the approval of the City Council by the affirmative vote of a majority of the members present at a regularly scheduled meeting of the City Council; (b) the construction of the Improvements on the Property on or before January 1, 2028. The abatement granted herein shall not be effective until tax year commencing January 1,2027. 19. Responsibilities of Property Owner. In consideration of receiving the tax abatement granted herein, the Owner agrees that: (a) Improvements and Personal Property. (1) By January 1,2029: (A)The Owner must complete construction of the Improvements in compliance with this Agreement, the City's ordinances, and the plans shown in Exhibit 3; (B)The Owner must have received from the City a certificate of occupancy for the Improvements; and (C)Cumulatively, the Improvements must have a Value of over Two Million Eight Hundred and Five Thousand Dollars and 00/100 ($2,805,000.00) (b) Employees Required. Following the completion of the Project, the Property Owner shall maintain a local employment level of not less than full-time positions (consisting of both direct employee jobs and contractor jobs), determined through semi-annual reporting (Exhibit 4) throughout the Term of Abatement, relating to the Project, and continuing for the remainder of the Term of Abatement under this Agreement. These positions shall have an average annual wage of at least , or one hundred ten percent (110%) of the annualized county average weekly wage for jobs in Jefferson County, Texas, as published by the U.S. Bureau of Labor Statistics for the Beaumont—Port Arthur Metropolitan Statistical Area for the third (3rd) quarter of 2025, whichever is greater. 20. Notice. All notices shall be in writing. If mailed, any invoice or communication shall be deemed to be received three (3) days after the date of deposit in the United States mail, Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 7 first-class, postage prepaid. Unless otherwise provided in this Agreement, all notices shall be delivered to the following addresses: To PleasurEyeland, LLC: PleasurEyeland, LLC Attn: Selim Kiralp 13601 Preston Road, Suite W104 Dallas, Texas 75240 Telephone: 469-847-0514 Email: selimkiralp@selimkiralp.com With a copy to: Jared M. King, Esq. 6300 Ridglea Place, Suite 1100 Fort Worth, Texas 76116 Telephone: 817-739-0053 Email:jking@jmkinglaw.com To City of Port Arthur: City of Port Arthur Attn: Ronald Burton, City Manager P.O. Box 1089 /1/1 1 4th Street Port Arthur,Texas 77640 Telephone: 409-9 8 3-8101 Email: ron.burton@portarthurtx.gov With a copy to: City of Port Arthur Attn: Roxann Pais Cotroneo, City Attorney P.O. Box 1089 444 4`11 Street Port Arthur, Texas 77640 Telephone: 409-983-8129 Email: roxann.cotroneo@portathurtx.gov Either party may designate a different address by giving the other party at least ten (10) days written notice in the manner prescribed above. 21. Entire Agreement. This Agreement and the Exhibits attached hereto contain the entire tax abatement agreement between the parties and supersedes all other negotiations and agreements between the Property Owner and the City relating to the grant of tax abatement for the Improvements located on the Property, whether written or oral. In the event that there is a conflict between any of the Exhibits to this Agreement and this Agreement, the provisions of this Agreement shall control over the provisions in the Exhibits. [Signature Page on Next Page] Tax Abatement Agreement 4/29/2026 2:04 PM-DRAFT 8 IN WITNESS WHEREOF, this Agreement has been duly executed by the parties as of the of May,2026. CITY OF PORT ARTHUR,TEXAS, A Texas home-rule municipality, By: Ronald Burton, CPM City Manager ATTEST: Sherri Bellard,TRMC City Secretary APPROVED AS TO FORM: Roxann Pais Cotroneo,JD City Attorney IN WITNESS WHEREOF,this Agreement has been duly executed by the parties as of the day of May, 2026. PLEASUREYELAND,LLC By: Selim Kiralp Owner Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 9 EXHIBIT 1 Approximately 35.24 Acres of Land Property Survey, Legal Description and Metes and Bounds Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 10 li4,7 :,116... _.. -.106-4,-&-*_„ - °W4:'''''; : po7*70/47‘ 41-r)::, ;# •• .. Srm' s{ f �Y .,, i,`r>-X ° q"'.•" ..'k qt{ 3 .. i IICINII MAP . (�i.b i $ p J i ,. UL •' r 5 __ cr.^.. a..-,... ` 1� ...,.w ...w. Awe.. .,..a,. il ""r`si."...7....??,F..,9.7.;,:-..`.::::,7:VP-t.r..-.2'L.?'...?. Nip, - tt t` ; wL.rw..waw.r.r.L . • • .. ra •..w.w ar m•Y NM ....a .A - My. .Ir lwmf Mti k 4 .rtg I', °. •w�nr a M om. . .aa'" t g Y iY1 ` 4. + �_ .▪..........a wMti�i 'u l[lrwsw uw.Y rna Pa ., . w.r. .w.a...a.a ..,-1-: � � wM...�. .�u iwiv d.'Y .raw�wwur _. _ nM ariv.n..e�.kr.n... - -..A,- '1m6aA,~rre ww u[r,.wewr M.a..var ,:-. wa6....r w.w,wm.an wmmnw 274r" Dwe.•..L...w naw.n e w a....e.[.n.Iw.r P,n.A h Mn.Sable '^& uY 1 cYLm cwm ,i.YYO Oen/[2 a-sT IR'SRu e[u u YaWOr[ [00[' .. .... ..... .. .. �_ Y.LP,E,,,,S PRO,NO 22-0050- u[+,[on.e,n an.a.[..woo,n 3737 Doctor[Dave P.F[o.raPo. cY�w�var:emm N0000 r-loa' .,,....,-.....-..,...,.... -.,,a.,..W..._..m w.[e..,A. f/T\ v.�e SOUMC Port?ut6ur.Tew 77642 e: cim oP Pam x suxvci, sru. No.Yse PONT oAic:z-N-maz TeIAO9.983.[sNh oRAVM er:wY0 .........w....a....e..e........®........r...- w.. r.. 4O9.983.`tN5 i O..,_• :.'.,.. ocarn ev: c SURVEP011S df E[dGQ�.S PITY OF PORT ARTHUR /PAROLED er:PAC [OYt®OR•nJO.>Oom PLEASURE ISLAND Ysrmmso a[orumoxu, e o vvc rw »e•,ru NW wveuu PORT ARTHUR,TEXAS 77640 SHEET 1 OF 1 TBPE Firm No. F-5755 _,^�y�r * TBPLS Firm No.10123800 ' LA EF.0005711 3737 Doctors Drive `�` Port Arthur,Texas 77642 f IN\ SURVEYORSENGINEERS t Office (409) 983.2004 Fax(409)983.2005 35.24 ACRES OF LAND OUT OF THE H.L.MCKEE SURVEY ABSTRACT NO. 930, CITY OF PORT ARTHUR SURVEY ABSTRACT NO. 931 & ABSTRACT NO. 932 JEFFERSON COUNTY,TEXAS BEING 35.24 acres of land, out of The H. L. McKee Survey, Abstract No. 930 & The City of Port Arthur Survey, Abstracts No. 931 & 932, Jefferson County, Texas, being part of a tract of land described in a deed to The City of Port Arthur, recorded in Volume 381, Page 553, Deed Records, Jefferson County, Texas and part of Tracts 3 & 4 of several tracts of land described in a Patent recorded in File No. 9733311, Official Public Records, Jefferson County, Texas; said 35.24 acre tract being more fully described by metes and bounds as follows,to wit: Note: Bearings, coordinates, distances and acreage are based on the Texas Coordinate System of 1983, South Central Zone, US Survey Feet, and are referenced to SmartNet, North America. COMMENCING at a 1" steel rod found in concrete labeled USACE Monument found on the intersection on the Northwest right of way line of a dedicated road named TB Ellison Parkway and the Southwest right of way line of a dedicated road named Pleasure Pier Boulevard; said 1" steel rod,having a Texas Coordinate of N: 13897936.83, E: 3575210.87; THENCE, South 53 deg., 12 min., 42 sec., East, crossing said TB Ellison Parkway, a distance of 160.00' to an aluminum disc found in concrete for the POINT OF BEGINNING; said monument being on the intersection of the Southeast right of way line of said TB Ellison and the Southwest right of way of said Pleasure Pier Boulevard, having a Texas Coordinate of N: 13897841.01, E: 3575339.01; THENCE, South 53 deg., 11 min., 03 sec., East, on the Southwest right of way line of said Pleasure Pier Boulevard, a distance of 1043.39' to an aluminum disc found in concrete for corner; THENCE, North 36 deg., 48 min., 02 sec., East, a distance of 20.01' to a '/2" steel rod, capped and marked "SOUTEX", set for corner; from which a 1/2 " steel rod found, bears North 36 deg., 48 min., 02 sec., East, a distance of 60.00' THENCE, South 53 deg., 11 min., 19 sec., East, a distance of 407.37' to a Y2" steel rod found for corner; THENCE, North 36 deg., 47 min., 02 sec., East, a distance of 160.85' to a %2" steel rod found for corner: THENCE, South 53 deg., 11 min., 19 sec., East, a distance of 311.22' to a %2" steel rod, capped and marked"SOUTEX", set for the most Easterly corner of the herein described tract; THENCE, South 36 deg., 27 min., 52 sec., West, a distance of 375.23' to a 1/z" steel rod, capped and marked"SOUTEX", set for corner; THENCE, South 52 deg., 31 min., 38 sec., West, a distance of 50.30' to a '/2" steel rod, capped and marked"SOUTEX", set for corner; THENCE, South 36 deg., 34 min., 51 sec., West, a distance of 1335.83' to a 'A" steel rod, capped and marked"SOUTEX", set for the most Southerly corner of the herein described tract; THENCE, North 31 deg., 07 min., 52 sec., West, a distance of 15.63' to a 'A" steel rod, capped and marked"SOUTEX", set for corner; THENCE,North 62 deg., 08 min., 50 sec., West, a distance of 51.62' to a '/2" steel rod, capped and marked"SOUTEX", set for corner; THENCE,North 77 deg., 38 min., 43 sec., West, a distance of 139.88' to a 'A" steel rod, capped and marked"SOUTEX", set for corner; THENCE,North 36 deg., 58 min., 44 sec., West, a distance 55.52' to a 1/2" steel rod, capped and marked"SOUTEX", set for corner; THENCE,North 48 deg., 08 min., 52 sec., West, a distance of 151.89' to a 1/2" steel rod, capped and marked"SOUTEX", set for corner; THENCE, on an arc of a curve to the left, having a radius of 115.00', an arc length of 40.62', a chord bearing of North 66 deg., 17 min., 23 sec., West, a chord distance of 40.41' to a %2" steel rod, capped and marked"SOUTEX", set for corner; THENCE, North 78 deg., 00 min., 01 sec., West, a distance of 62.65' to a 1/4" steel rod, capped and marked"SOUTEX", set for corner; THENCE,North 53 deg., 32 min., 53 sec., West, a distance of 156.30' to a 1/2" steel rod, capped and marked"SOUTEX", set for corner; THENCE, North 45 deg., 16 min., 39 sec., West, a distance of 67.52' to a 'A" steel rod, capped and marked"SOUTEX", set for corner; THENCE, on a arc of a curve to the right, having a radius of 40.00', an arc length of 58.29', a chord bearing of North 05 deg., 11 min., 07 sec., West, a chord distance of 53.27' to a 'A" steel rod, capped and marked "SOUTEX", set on the Southeast line of the Wave Barrier Levee System; • THENCE, North 36 deg., 33 min., 55 sec., East, on the Southeast line of said Wave Barrier Levee System, a distance of 1242.49' passing a '/2"steel rod found for reference point, continuing for a total distance of 1346.16' to a %2" steel rod, capped and marked "SOUTEX", set for an interior corner of the herein describe tract; from which an aluminum disc found in concrete bears South 52 deg., 42 min., 42 sec., East, a distance 45.77'; THENCE, North 52 deg., 42 min., 42 sec., West, on the Northeast line of said Wave Barrier Levee System, a distance of 996.10' to a 'A" steel rod found on the Southeast right of way line of said TB Ellison Parkway; said '/2" steel rod being the most Westerly corner of the herein described tract; THENCE, North 36 deg., 26 min., 04 sec., East, on the Southeast right of way of said TB Ellison Parkway, a distance of 243.04' to the POINT OF BEGINNING and containing 35.24 acres of land, more or less. This description is based on the Land Survey made under the direct supervision of Anthony M. Leger,Registered Professional Land Surveyor No. 5481 on February 17& 19, 2022. CITY OF PORT ARTHUR LS-22-0050 EXHIBIT 2 Approximately 1.644 Acres of Land Property Survey, Legal Description and Metes and Bounds Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 11 T.B. EWSON PARKWAY ONO' THE PUBLIC Rom.) —SOUTHEAST R.O.W.UNE `FWNO ALUYINUY DISC IN CONC. N:1JB97640.97 E:3575339.03 1.ACRES OF LAND OUT OF TnIE CITY Of PORT AR... " c" "" .10VERaox WW1,TEXAS CI K wa w�0•nw n.oryaPmwmvA.mmw.131.102.......J.T=.:amMwn a.Is w. W^ I n.Oty of Pal...n me .maa.v.N.vTPp.SM.Ora R.me.wl,..a,Canny r..•:so,.0 J `e uwi�,e..,M wn,e.ahm.inaen.a.0 ww.ww. f0rc T ca.a a x,vw,vw EnTeen D. m..Na w.owxmm.....E., W W_I0 1 a▪n•n..,.eee....an..,a..7021022741 .�• ��n .l. F a 'T'P' SOP _ • .a.aw or 112/1.„'e..w.a. ....,>.awn:. u.,.d:a°,an°mma...w.of Y1 R$ 1- N� S pR THENCE.dax.b..014.w...=. ..a S. u,vc r....,w m.an. a..m. .a. Q� THENce.emw v wo-.,e.n..I.a.E..Icww emn w w..«.n..w..a E.........1.... z < a N \ a� a.THENCE... IC.. • al1......... .a..ea.m... me a me...,mnm.crva.���.w..:.a,..,.,am.a.w...w..mn.an.I..x n.,e.a wa. THENCE THEN.So. al a ,�:W,n'.Ca.wsaewso.w.....0 we.eo.......aa...e,a•Pe..m CE.1.111 ., a��w n PD��:'ow R� maw, w��Em.....'m".w. m. THENCE.ewn Me 00..n..,..w 1 r5 36'49'36•w 60.01' n.a aNn w m. ace w ob.0°.w.sm.r..'awE.nr roams e iOUNDCDNC 1 \ ,Mace N.. .., .wNa. YWIIYENT DISC A —I{`— \ I `FOUND 1/2' `FOUND 1/2• 0...n� s 36`6'OC W zaos'J s,66, MONSlEa Roo •\ an.n os .. aw•,v uppED WI Q\IR �. i am y• mN.n,otl=�. wn.a.wa.nn•e.a....'CAAOR,L...ww..an.....�L. $I pa �Sy56.5 \ I 0.TaPm N. 4,0 •PO' \ 28-0060 2 p`1 G N 3858'54•E � CAD I\ ne9' FOUND NAG NAIL ' —1\_ MAG MAIL W CONC N:13697207.86 t . IN DDNC L E]5783182J L Y P =▪P. / �,E',6�,, O O . fy m z & / I / / *A c a W r / w N n w O..R V,C / az m PSf Ppy11 / / fKEpO.,;pP' • /d6C�� R PR E / / / / I N.` / • / F / i FOUND 1/2' N 38'49'01•E 17221' / 1ST�RW� (CALLED N 39RS'00•E 17229') : • P JR / S 38 48'23•W (,•�c / Va ,.0.9.. a / 77.01' a.N� 714OD OF --1 W.Ig dS pP • ------- A E:3578577 24 1 Q / - L S EE ROD / / / 04 / rot OF�}¢ Cq' 9.5'. / PB / • / 5'1" 0 "A N /(CALLED N•J9'1936.00' / .1 / R t • A / / •y 9.6 1.644 ACRES OF LAND / / 4 PART OF CITY OF /.B w ----- PORT a NO. 9 ,n / ..----- ABSTRACT NO. 932 V$ / �� AND 931 dEFFERSON COUNTY, I W / // TEXAS / P` / / A "v / / € RESIDUE N 38'38'02•E 164.48' _ BOARD WALK AREA CITY OF PORT ARTHUR / (CALLED N 3910'02•E) 532358•E 6.00 y VOL 381,PG.555,D.R.J.C. d5 (CALLED S 50'49'56•E) / a. S 36131'16•W 26.89'-/ I S 3676'021 W 346.47' (CALLED S 39'05'16•W) (CALLED S 3910'02•W) =POINT FOR CORNER i CITY OF PORT ARTHUR OTY OF PORT ARTHUR • =SET 1/2•STEEL ROD ABSTRACT ND.930 I ABSTRACT NO.931 CAPPED•SOUTEO• @ C.R.J.C. =CONDOMINIUM RECORDS,JEFFERSON COUNTY SABINE LAKE __ I A 1. 1£1311114 CCOO.ATES OSTANIRR AND ACREAGE ARE BASED ON TDAs COORDINATE MIDI Or 19v.Scrum—CENTRAL zaxc us SURVEY SHEET nnc 'PROJECT Na 8 mS URREFVEY VAp®m sYAR1rcT.NA Ts OR OTHER MATTERS NOT awl. 1.644 ACRES OF LAND, 26-0080 H ` RAN SURVEY NOB PREPARED WNW 118 60011T Cr AAYPEE REPORT PART OF THE CITY OF PORT ARTHUR SURVEY, It. R w'E.,.ccoRA"I°A w BOUNDS nI�'nn DATE Nawwa RASYIUP' 'a'TNE Fmuu o¢Rmn YAx•m1DWT Am.n.ew xvolnl8 craw,1NE ABSTRACT NOS. 931 AND 932 1'=60' TRACT UEi w 1NE 1.1 *INC.0 901 ON YAP WAM DETDauxEO 9Y seuc A 0 Dm 0uvATN8 NTH xT "", JEFFERSON COUNTY, TEXAS 04/2B/2026 UNLESS SURVEYORS.INC.DOES NOT WARRANT NOR SUBSCRIBE TO WE ACCURACY OR SCALE Cr SAD YAP. Ep pp Ri, S. TEAS elMr DATE ms=CAALL SHOW.DE DOE PRIOR 10 ANY MONO OR mxeTRUCTICM PI CAME Ce u11001011.0%MURES OR UTDITES •.`VCOM �'4s0t6it4 °R°ECT CITY OF PORT ARTHUR BMMG +Y. DMIZONSON OF mama LOCATE CORNERS AND SHOW IMPROVEMENTS ,4.4 * e a, 600 PLEASURE PIER BOULEVARD CHECKED BY emBLYO.Cm°D'TEOR' fl.I " PORT ARTHUR, TEXAS 77640 Tk sur veythis was this day OS/10/2028 made,on the ground,of the property . 6•T AML legally described hereon In accordance with the minimum etendard.of pre0Uce promulgated by the Tess.Board of ' it 0. 3 Professional land Surveyors. This survey ie certified for this transaction only,and is not transferable to additional tn.tiwtiom or subsequent owners. /��, .SUIT.N. SO 3737 D«R«.LEY. /T/')7, d—`. P•.t An6..,Te,A.77D42 (� T.L409.96i.2009 B`___• SURVEYORS&ENGINEERS Fa..4C9.983E 2005 ANTHONY M.LEGER .Oat.s.urnagonmm i REGISTERED PROFESSIONAL LAND SURVEYOR NO.5481 T.aP.E Dal was•TALE.Bs.Elmr3eoO a..® i TBPE Firm No.F-5755 TBPLS Firm No.10123800 LA EF.0005711 . 11\ TEx _ 3737 Doctors Drive Port Arthur,Texas 77642 SURVEYORS&ENGINEERS - s Office (409) 983.2004 Fax (409)983.2005 EXHIBIT"A" 1.644 ACRES OF LAND OUT OF THE CITY OF PORT ARTHUR, ABSTRACT NOS.931 AND ABSTRACT NO.932, JEFFERSON COUNTY,TEXAS BEING 1.644 acres of land out of the City of Port Arthur Abstracts No. 931 & 932,Jefferson County,Texas; being part of a tract of land described in a deed to the City of Port Arthur,recorded in Volume 381,Page 555, Deed Records,Jefferson County,Texas; said 1.644 acre tract being more fully described by metes&bounds as follows to wit: BEGINNING at a l/2"steel rod, capped and marked"SOUTEX", set on the North Right-of-Way line of a dedicated road named Pleasure Pier Boulevard; said Y2"steel rod being on the South line of a tract of land described in a deed to Pleasure Pier Sea Cabins,Neches Real Estate,LLC,recorded in File No.2021022741, Official Public Records,Jefferson County,Texas,and being the Northwest corner of the herein described tract, having a Texas Coordinate of N:13897140.04 E:3576577.24; THENCE,North 36 deg.,49 min., 01 sec.,East(Called North 39 deg.,23 min.,00 sec.,East),on the South line of said Neches Real Estate,LLC Tract,a distance of 172.21' (Called 172.29')to a'/2" steel rod,capped and marked"SOUTEX", set on the common lines of Abstract Nos. 931 &932; said %2" steel rod being the Southeast corner of said Neches Real Estate,LLC Tract and Northeast corner of the herein described tract; THENCE, South 53 deg., 18 min., 30 sec.,East(Called South 50 deg.,44 min.,30 sec.,East)on the common line of said Abstract lines,a distance of 244.81'to a''A"steel rod, capped and marked"SOUTEX", set for an interior corner of the herein described tract; THENCE,North 36 deg.,45 min.,40 sec.,East(Called North 39 deg., 19 min.,40 sec.,East),a distance of 36.00' to a point for corner in the waters of the City of Port Arthur Marina; said point for corner being an exterior corner of the herein described tract; THENCE, South 53 deg., 14 min., 25 sec.,East(Called South 50 deg.,40 min.,25 sec.,East),a distance of 129.86'to a point for corner in the waters of the City of Port Arthur Marina; THENCE,North 36 deg.,36 min., 02 sec.,East(Called North 39 deg., 10 min., 02 sec.,East),a distance of 164.48' to a point for corner in the waters of the City of Port Arthur Marina; THENCE, South 53 deg.,23 min., 58 sec.,East(Called South 50 deg.,49 min., 58 sec.,East),a distance of 6.00' to a point for corner in the waters of the City of Port Arthur Marina; said point for corner being the Southeast corner of the herein described tract; THENCE, South 36 deg., 36 min., 02 sec.,West(Called South 39 deg., 10 min.,02 sec.,West),a distance of 346.47' to a point for corner; THENCE, South 36 deg.,31 min., 16 sec., West(Called South 39 deg.,05 min., 16 sec.,West),a distance of 26.69' to a point for corner, same being the Southwest corner of the herein described tract; THENCE,North 53 deg., 12 min., 58 sec., West(Called North 50 deg.,43 min.,35 sec., West), a distance of 342.13' passing a'/2" steel rod found for the most Easterly Northeast corner of Pleasure Island Tract I,recorded in File No.2022037727,Official Public Records,Jefferson County,Texas,continuing for a total distance of 381.46' to the POINT OF BEGINNING and containing 1.644 acres of land more or less. This description is based on the Land Survey made under the direct supervision of Anthony M. Leger, Registered Professional Land Surveyor No. 5481 on March 10, 2026. City of Port Arthur 26-0080 EXHIBIT 3 Project Overview and Proposed Improvements Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 12 • P.R. No. 22961 12/29/22 gd RESOLUTION NO. A RESOLUTION ACCEPTING A PROPOSAL FROM SELIM KIRALP, LLC INVESTMENTS FOR THE PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND AND FURTHER AUTHORIZING THE NEGOTIATION OF A DEVELOPMENT AGREEMENT AND ALL NECESSARY DOCUMENTS TO FACILITATE THE SALE OF SAID LAND WHEREAS,pursuant to Ordinance 22-11, the City provided for the conduct of a Special Election on May 7, 2022 to submit a proposition regarding the sale of various land located on Pleasure Island owned by the City of Port Arthur as provided in Section 253.001(b) of the Texas Local Government Code: and WHEREAS, the Special Election was held and pursuant to Ordinance 22-37, the ballot proposition authorizing to sell a fee title interest in land that the municipality owns, holds, or claims as a park for fair market value, based upon a certified appraisal. to wit: 35.24 acres of land out of the H.L. McKee Survey Abstract No. 930, City of Port Arthur Survey Abstract No. 931 & Abstract No. 932. Jefferson County, Texas was approved and adopted by a majority of votes received from qualified voters of Port Arthur, Texas; and WHEREAS, subsequently, the City of Port Arthur prepared a request for proposals to seek qualified and experienced commercial/residential developers to purchase and develop the above mentioned land in conformity with as set forth in the Texas Local Government Code: and. WHEREAS, pursuant to Chapter 252 of the Texas Local Government Code. the Purchasing and Pleasure Island Department advertised Request for Proposals (RFP) for the purchase and develop of said land in the Port Arthur Newspaper on September 17, 2022 and September 24, 2022; and WHEREAS, one proposal was received on October 26. 2022 from Selim Kiralp, LLC Investments. The proposal was reviewed, evaluated and scored by City Staff based on the criteria provided in the RFP. A copy of the score sheet is attached hereto as Exhibit"A": and WHEREAS,the Pleasure Island Department's recommendation is to accept Selim Kiralp Investments' proposal as delineated in Exhibit "B" for the purchase and development of the land of Pleasure Island. P.R. No. 22961 12/29/22 gd NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PORT ARTHUR: THAT. the facts and opinions in the preamble are true and correct. THAT, the City Council hereby authorized the acceptance of a proposal from Selim Kiralp, LLC Investments for the purchase and development of 35.24 acres of land located on Pleasure Island in accordance with the terms and conditions set forth in the RFP attached hereto as Exhibit "C" and included for all purposes and further authorizes the negotiation of a development agreement for the sale of said land at fair market value and the payment of all closing costs by the developer. THAT, a copy of the caption of this Resolution be spread upon the Minutes of the City Council. P3ALA.D. READ, ADOPTED AND APPROVED this 4 -- day of 2023 at a Regular Meeting of the City of Port thur, Texas by the following vote: AYES: Mayor: Councilmembers: I 1/VAYALL-3� �� J / ,OJYd,/ J • , NOES: _____CLaina _ , I r j,` Ingrid Holmes, Mayor Pro Tern ATTEST: ti3 I , ` SherriSellard, City Secretary \._ -�'� APPROVED AS TO FORM: APPROVED FOR ADMINISTRATION: /1 / � , �� t t t , 1/' (?71 -� 7 - ' ,,,'"'-- Val Tizeno ' / Ronald on :2'4)4 City Attorney V City Manager P.R.No.22961 12/29/22 gd JALk. Clifton Williams, CPPB Purchasing Manager Geor e vis Director of Pleasure Island Exhibits Are Available For Review In The City Secretary Office Or Online Please visit our website: http://www.portarthurtx.gov/ > AGENDAS &, MINUTES> Agendas> 2023 Agendas> City Secretary page: http://www.portarthurtx.gov/ > City Government> City Secretary Office Number: (409) 983-8115 Email: citysecretary a(�portarthurtx.gov P.R. No. 22961 12/29/22 gd Exhibit "A" Evaluation Score Sheet City of Port Arthur Purchase and Development of 35.24 Acres of Land Located on Pleasure Island Agenda Totals P22-090 Weight Sclint Kiralp Investments 1'lunu. 7X Overall Development Concept 250 230 Experience with Floodplain Reclamation 100 10 Financials.for Site _ 100 _ 88 Developer Qualifications 50 _ 44 Total 500 372 Yolanda Scypiun-Goudeaux, Purchasing Assistant t'ir.l t'`' -i'- CH, 111 o r t r t h r P.R. No. 22961 12/29/22 gd Exhibit "B" Developer's Proposal RFP No. 22-090 October 24. 2022 CITY OF PORT ARTHUR CITY SECRETARY 444 4TH STREET, 4th Floor PORT ARTHUR, TEXAS 77641 To Whom it May Concern: As the sole member and manager of Selim Kiralp, LLC, please allow me to convey my appreciation for allowing us an opportunity to deliver a bid for this RFP to develop Pleasure Island (the "Island"). The response to this RFP is extremely important as I previously identified the Island, and the City of Port Arthur (the "City"), as an area ripe for economic development. I hope that the attached response gives you a glance into our potential vision for the Island. However, it is my true intention that Selim Kiralp, LLC and the City form a partnership that will change the face of the Island and ultimately make it a recreational destination for Texans, Louisianians, and hopefully people from around the country. I believe that I am uniquely qualified to bring this vision to the Island. I have run successful businesses in three different countries, including building and operating seven profitable hotels in Istanbul, Turkey. I intend to bring the lessons I learned from my international businesses coupled with the financial stability and reputation of Selim Kiralp, LLC, here in the United States, to bring a well-researched and respectable product to the Island, Moreover, Selim Kiralp, LLC will give the City the personal attention and communication needed to put the city at ease that we are the right ones for the Island. As the member- manager of Selim Kiralp, LLC, I am intimately involved in all aspects of our deals from market research to construction and operation. The importance of our setup is that the City will always have a direct line of communication to the owner of the company. This is to reflect the importance of our relationship with the City and to ensure the best product through constant communication. My hope is that the City will equally show its commitment by partnering with Selim Kiralp, LLC to create the necessary infrastructure that will support a water-themed park and potentially further financial growth. Again, I truly look forward to working with the City and invite you to contact me should you have any questions yi hatsoever regarding our RFP or anything that I can help clarify. Sincerely, A Selim Kiral TAB A-Entit Selim Kiralp 1025 Damsel Caroline Dr. Lewisville, TX 75056 (469) 847-0514 seiimkiralpselimkiralp.com Salim Kiraip, LLC Selim Kiraip, LLC ("SK") is a manager managed limited liability company authorized to conduct business in the state of Texas. Selim Kiraip serves as SK's managing member. SK shall serve as the corporate entity that will acquire the land and initiate development of the Pleasure Island waterpark. SK plans to replot the land and assign or transfer ownership of portions of the land in connection with various development phases. SK encloses its House Bill 89 verification, SB 252 Chapter 2252 Certification, and Non Collusion Affidavit. I TAB�lopment Team 1 A( i Resume, Skills & Experiences • Resume • Real Estate Skills, Experiences &Awards • Media • Some of the Projects 1025 Damsel Caroline Dr. Selim B. Kiralp Lewisville,TX 75056 (469)847-0514 selimkiralp@selimkiralp.com Selim Kiralp LLC Investments,USA — Owner&Manager - - _ =-- - SBK Real Estate Investments LTD,Turkey —Owner&Manager _ _ __ 3 : . .1' Buono Co., LTD, S. Korea — Owner&Manager Hanyang University,S.Korea — Undergrad. Silla University, S.Korea— Undergrad&Language Certification -- - - Real Estate Developments&Investments — Hotels,Apartments, Offices _ - - - - Frozen Food —Manufacturing,Franchising, &Delivery - - _ REAL ESTATE SKILLS & EXPERIENCES Tornnte_cial real estate_eve opment Skills Project management roject._ a n:ng :-:ccrporating latest technology-into new generator,buildings Cost effective developments Projeo':risk manage-r.er.. Project:o_:._.. _.cn. G__ control&estirria:i__ ✓_._:o .tents in -'.e Inghtlocation_&time Seleme LLC/Owner&General Contractor Experiences == PR S:NT,"S A of ti'ac Rc SBK Real Estate Investments LTD/Developer&General Contractor developments a ._ _-tote! de' _._: _._. . :onstru_:_:: S.__a'_'. _h os and .___.._-:_:anst• ____- protected m_..s o'.r=:le. _ e:: Buono F&B Co.,LTD./Owner&General Contractor - ---- S. Korea Frozen _...it_fact.. _. _.. �....c..._____c___.. Restaurant.. _..- ..o•. = --•-•ter• ^ __.� _, -___...___` 3est o..o_tioue total of Isra Awardscertificate of well protection of hi ildi -a. pe >"' -:::::::.!:`,T I••.f.;::E.: C.., `.1.5:—.-L-,:-3.--:..'-7e.'e•:.-_,,—..:,--:-.-::,. :., ::,- es..3-2-e -s-_-=.s 2-„::-3,a-:2256734-3 s..•.. -2-:--=-0?..-'ei':3-0'-'-2---3 -es:2-..-i- --- i•-.s.---=',.-.--,-7,- l.:', ,..:_-• '-..e.,.s.:7,--,c- -e.:..3.:::::::-,:,-D3935/se -;.-a - :-:::---c_-:?.s---..s-o r-'.5-',7,--::::-, -_Ez- g,..:-...1--' ' = rJr1 KOKACTer PKJWAKKE' — QQQ MA spy Tti GU) InC/USD 41, •R 6 • %MI la Selim Kiralp - The Energetic Face Behind Selim Kiraip Investment Reaping The Benefits Of Real Estate Development 0 Create a Watchlist SO%Off TODAY CRILl.6e,mo-gh.c3 y-..-.,- ,r.,o-:-.1.-rkt.t•ttv.,-,K , . options Trade sin41s strays;to four ts-14.,&SPAS'r,m f;.0-urne so:3' 1161114611161111 BEAT THE MARKET WITH OUR FREE PRE-MARKET . . NEWSLETTER , ' • , -.. 4:— -I,• .' ...,• ,....." _ . . • . . ,. . ... ... . :. . - r r r DIGITAL.JOURNAL. INGRLO TECH SC EWE SOCIAL MEDIA RUSLNESS ENTERTAINMENT LFE SPORTS R Selim B. Kiralp fast emerging as a leading name in Texas real estate investment and development world II -:: —,me Health lrfestyle Sports SciTech adeo Q Fast emerging as a leading name in Texas real estate investment and development world H iBH 4 al-4 4. .4 4 .41111 newswires= Selim Kiraip LLC Announces Its Plans for Continued Growth in the Golden Triangle of Texas PR UNDERGROUND ONLINE PRESS RELEASE DISTRIBUTION SERVICE Passion, Purpose, and Precision: How Selim Kiraip investments Is Bridging the Real Estate Gap for a Nation in Need _ , v- • - A—h,r.—X,PRUrderg-ound October 23th 2022 IA 4 _ _ _ Some Completed Projects and Construction Highlights • Constru:tic_ --iighlights _.---e-',_ :- '' '''' . „1 ,.....44,: . . . . , • Hotels • * . , • - Daru Sultan Hotel - Waiten Gardens Pera Hotel ' I - Galatolia Suites - Firuze Aparts and All• i ' Guesthouses - Utarit Hotel ., _. a v ---— I _— 1 1 i, i I AWL Jet ,1 : r ...._ .... ,.. . ._..... •", , ,.., , .1 ,'''''''','": 11,t:,..:'`'''''', y . #. t._i �• t. ,k\. fli CA,.., ii ' i ( ; i l.: ril (tts ,,,. <„.4, A t - . f ,s, ..„,„,„„,--- , - „..,..„,,, . ,, , , . .,.„. ...... ....x.. . . ,.,,.. 1 `: ' t , , I I _440.4 11 jilt iiL a.) r`- _ '''It.. 1 trimilir O cr < TAB B-2 Jinkook Yang =82 10 4267 3345 • realnation@naver.com • Seoul,Republic Of Korea Summary Resourceful Architect adeptly integrates various environmental approaches to maintain large-scale commercial projects.Knowledgeable understanding of AEC environments more than 30 years to promote more sustainable design and construction practices.Resourceful knowledge of considerations governing planning,creation and inspection aspects to meet government mandates. Skills • QA and QC Processes • Site Planning and Design Expert • Schematic Design • Construction Estimation • Construction Methodology • Project Planning Experience 01/2013- Current Director of Architecture, Sumin Construction Co., Ltd., Seoul, Republic Of Korea 06/2001- 12/2004 Design Team Leader, Samsung C&T Corporation, Seoul, Republic Of Korea 03/1991-05/2001 Construction Management Team Leader,Hanjin Engineering&Construction Co, Seoul, Republic Of Korea 03/1981 - 12/1991 Architect, Shinhan Architects&Engineers Co., Ltd., Seoul, Republic Of Korea Education And 02/1981 Bachelor Of Science.Department of Architecture Training Seoul National Univ Of Science And Technology.Seoul,Republic of Korea Major Projects 1.Airport Facilities -Incheon International Airport Phase l and 2:Passenger Terminal 1 and Ancillary Buildings, Concourse)Design -Incheon International Airport Hyatt Regency Hotel Design 2.Military Facilities -Republic of Korea Air Force No.7703-96-Z maintenance depot and auxiliary facilities design -Goesan Military School Samsung Consortium`127 buildings)design 3.Medical Facilities -Inha University Affiliated Hospital Design -Hangang Sungsim Hospital Senior Health Medical Center Design 4.Educational Facilities -Korea Aerospace University Susaek Campus Main Building,Student Union and Engineering- Science Building Design -Inha Technical University Lectural Building Design j�� R E1M A Bilal Asmar 1 Realtor I am a well known agent in the industry®ularly work Ittik with the Vice Presidents of most leading commercial real estate companies in Texas. I have been a Commercial& Residential real estate investor for 30 years. I have previously managed.owned,&operated many retail businesses for over 30 years. I use the internet to optimize exposure for my listings and approach all of my leads personally as well as 0 AWARDS generate new leads. RE/MAX's#1 Commercial Agent in Texas 2022 Bilal asmar@gmail corn 0 (469) 777-2449 Inducted into the RE/MAX Hall 9 Dallas, TX Et of Fame;1st Quarter 2022 RE/MAX's#1 Commissions Earned;1st Quarter 2022 0 WORK EXPERIENCE RE/MAX's#1 Team Commissions Earned;2nd Quarter 2022 0 Realtor Won CoStar's Best of the Best ' RE/MAX Broker 2020&2021 03/2014—Present CoStar's ranked#1 in` • Successfully conduct retail sales, acquisitions, and Commercial Leasing in DF leasing; 2021 • Office sales, acquisitions, and leasing; Costar's ranked#3 in • Multi-family sales, acquisitions, and leasing; Commercial Leasing in DFW • industrial sales,acquisitions, and leasing; 2020 • Commercial auction properties; •RE/MAX's#1 Commissions Land sales&acquisitions Earned;1st Quarter 2021 RE/MAX's#1 Commercial Individual Dallas Council;2nd, 3rd,&4th Quarter 2020 0 SKILLS RE/MAX's#1 Commercial ` • Customer Service Individual Dallas Council;3rd • Investment Properties Quarter 2019 • Strategic Planning • Commercial Rea!Estate 0 CERTIFICATIONS • Contract Negotiation • Risk Assessment • Investment Flips Commercial Real Estate • Land Development Champions School of Real Estate Certified Home Marketing Specialist E D U CAT I O N Champions Real Estate Group 0 ♦ Champions School of Real Estate 41110 LANGUAGES • Commercial Real Estate • Real Estate Investing • Property Management English ,tom, • Certified Home Marketing Specialist Spanish Arabic • NYLI Schack Institute of Real Estate N Q 2 ,., ,, 4J t-- QJ ct U rzo �' r C Z N 0 N in a •WNWZ NIQ . x L1) w c, O ( :) (1 DO C. ..t 2 o 6 ,4, Ea = y Y c o bo o cc Lc) in C 410 ce 15 to 0 ea u t 13 CI qt 7 yw CO I II FLLJ - p aV, L. W N G U la . J ►- Q c� N N Q . . : , ., i,; 7 . (i) I :Y 0 O U Q r.�+ • w L 3c uA _ CY aa a3 U < — X <:) Q V W O � C) () c Ln _m Ch 40 CO 0. al ce Le) 43 O oF. Q .2S o 'Li o a m ct Cal Vim . $ � L. W O u W J F- Aziz OZYILMAZ Civil Enginee COMPLETED PROJECTS - COLLIERS INT. PROJECT MANAGEMENT , ,, .:wylitiiiii-L. 7„ - i -- • - - - - — - - - - - COWERS 1NTERNATiONA.L PM SERVICES :. V4•111 . - :,,,i*. ..- i A.• 7 .:; ..,--- . ..-..— - = a ._,....... _. L- .:= E- " __._ • '---- .;-. c.-. -_ -- -.,-. 2 • -,. -_..... --.,... •-_-,..- --..,-, : _ ,* • _.:-.....-,.., . .: _ .. ,-.. -. ----- -..- : : , . IOU ' -.... ' • '7414101 : • - - -. .- - . . - . . ' ItPila - ' , -4' ', ' ' '_,, ''...-.! :....2 . . 1:'-:'-'''' '' :'''.".::7'..%•:..... 2;'i L.- .''''.''-'' :I'..": :- - LV - • '-. . C:`'.:.:•--'7": '-- '-.-:'''' . .:i:-." , Z ....'...':' ''.:, .:-7.''.- . ' : ...-' '';'.7 ' .,...- --. -... - .:1 • • 7N., koo .7P1-11011 Nil:II.' 7 t v'to. . - - - — ...— . • Aziz OZYILMAZ CJvi Lnginee !- COMPLETED PROJECTS - COLLIERS INT. PROJECT MANAGEMENT 7OLLIERS IN-rEfZ. 710NAI. PM SLR\:ICES rira. ,„ •----- • , -- , • , Dtranita • :11•11-1 ; 1111111iiiii'dL pipirri, !It II CIE i 1::$1113 11 .111 • tf' f • ‘1;'"11112 sly ill . 4 moos Jai 7: ,t.,/;:414 PI! " • 3 t 1 . . 0 i • I:, ; I 4* • r , Aziz OZYILMAZ vii Engneer rr x r+f-: o t COMPLETED PROJECTS - POYA PROJECT DESIGN CO. _ --.. - • 0..“ ., . . .. , _ _ _, - I*. ..,.=.. :IT, fj..9.41t, .._, , ,„.... .,4,. --,,p ...„.. ,___., „ „ _. .:. . . ---- .. , , �°~i... : ii, . I t a.,7 i 0.1 ; i r„f- , , l''''. ,- ..7 it:r1-11.----; '---, 1'.l' :---..--"--..—fifiri .„...., _ 1 _ , . gp..„. 1 i . ips • . _ . ,, . .. Pe, -. - A - .. , . . a____ . _ .. _. . . .. .._ , . ‘,„„,..... . T1. 1' 1 , ..,._ . ,----7-' , f - , : r �.r -., NO .._. 1 / -,.',.:. ii :,..• • - ..::-',:• ver— , .- .,., ' ' iii - • • ilL01111'1811I-' ',,--..„,‘ ' 1 - • •,. • „ . „,,• , ,, . , :•,,ii• , .,,.. ,, . • i ,i,'.40 411110.480:,„ :y ,,,,..' NJ • O Jo, ,,,,, - 4-: ... ' -.: ....' ,- .'. ., , - i • 0 < IL) 4 • , ,,,le-, ...,..75-4f.„;.., 0 Mill : - .., Z , ' Z (.., . • ' 0 Cf3 . ...... ,. .......11 UJ ............... a sj, ...... M i›..... 1... 0 - • '"' Ni (j) a..) ILLI .....i ; , -, , ,, . . .. . Cl) Z.. OEE 0 ' 0 , , ,. . . , . , . . ,.. .• , - , 4 . .MON >1. , , I‘.... • , NJ • .„- ;, i 1. ; 0 > . .. , . CL . , < (..-1)- i . , .. I CO . . O 0 ' U3 ...i sp.% O .. . , , ...?„-- „. - ,4 0 • '• ,.', '' ' . . , .. CL .ri-., • .. tri • r' .!..,.; a..,,100 0 ,---*. . ... ., .,,,.,,.. ig Ci UJ Jai ' li 1 . - le- / UJ -,. , .•••-. il"'" 4.1.-,--7;:• -...",---„- 7- - ' 11- LU ...,.........:-...........L.,-,- .. - ...•- ,-- UJ .':,,,,P MN ' , ..,.... . .,,.., '. . •,. , ,„.... ..., ,, I ,,,..17;•,,,, , i .- ,,ilw iz: I _ .. 0 0 1,!,-:•;,,,r4..,,, „ „ ....„... 1 . . 0 r 0 '.,,•,.!:';,',.4--1,—„,,,:ffio. % . L, r I .. .4 Aziz OZYILMAZ Civil Engineer PRESS RELEASE ..,Eh,^ _., ...,3 "_. 3RN HOTEL .., , - rANrjl�t KttTOh GC�?LD ,i fr nOtt Metal .. .fur a .-201I to a;,i cae L LKSM•A .Mrbn:,1Rd,,Hita.-t,*,lY.e •kill ,.,,. ,. -,.,-...,....::. ,, .. : .. F! 10 . 61 . ,,...,..., r4Oig Ell 11111 III /H 4 •O�y�r�9�s first N allik ' . a , • vr/�sy ot<a/A, .,. ,„„,_ . ,•• ._.:., . . . t '4'04,_‘. - ''''' - '''''•+4,1t; --• -j R _ ' '.._ . . I , .. y btk ", > or � `� \} \ g,,,;. r UJ ,ak` e Y .M.SiY.I°' .,........ 6P S kl,.�fora H"*,Y f•t tYt.b.Ut op , , Amp LA00 a '''''''' , •-' t�taz , o Az „,,- \ ...... ... , , N f F, .--- 2 LU ., I- > r. `r w to ,2 �.. -. O.. 0 „+ LLf x4! I W ,-t <S r; `" ' ` rr, W : z0 <" tea i i1.] ,,, '11 LLi n _t i,; - ,� r a l:. .�,. �- `/`�` u.� i _i M 'mi :.r.i 7'. _t� � ' 0 r � ! Z CY C ri` ra. n F !Y ' ' r r fif MID 1.. - t f E..J !.. W ,rl (1.! LLf a i.i3 ! <S • Y. Y ; cr.' _.; a. < X w o 0 0 0 o 0t. O 41 Z C•+ t Q 0 c " t co o 10 1 C I CZ •� Z 'v — Z o G O c v C ro p 4) 141 .gyp N /CO Z. c0 •� - ^�, C7et J m I C H 0 ppJ I v Iffl .47 'nH Wa rl Q W °; u W J W u. TA cept 1 PLEASURE ISLAND WATERPARK Upon a portion of the Land, Developer proposes to construct a water-themed amusement park, featuring water-play attractions that may include,without limitation, swimming pools, water slides, splash pads, water playgrounds, and lazy rivers, as well as areas for floating, bathing, swimming, and other barefoot environments, along with accompanying parking areas to accommodate its visitors ("Pleasure Island Water Park"). Developer tentatively plans that the Pleasure Island Waterpark house indoor and outdoor water attractions— with approximately one third of the attractions being indoor. Developer anticipates Pleasure Island Waterpark to complement other development phases of the Land, which may include any combination of recreational, hotel, hospitality, retail, office, and residential uses. Developer currently projects that the Pleasure Island Waterpark (exclusive of parking facilities and other common areas)would feature between 250,000 and 400,000 square feet of water-themed attractions, while drawing between 400,000 and 600,000 visitors per calendar year, while being open (whether "indoor/outdoor" attraction or"indoor attractions only") more than 300 days per calendar year. Pleasure Island Waterpark would employ more than one hundred individuals (on both full-time and part-time basis). TAB D-Ccept 2 Waterpark Concepts _E:::•, :•" 1-.-- ,-"htsib,;71fkorii.,,, ...„.._ • , -• ,''• •'''.."' , • ,,Nbt...-, •''' : 1 ., ._. . - f- 'WIrrSir ' t • 41{1"Mill • ,,• . , . , ' t ' • .•;-- '...: "Z' t- '- t. - :titi''''-•- ''';I..- -.:': , e.:- - - . „ • •• ,, ... • , • ..lc . -t,.1.04.1---,'',34 • i •- - 1•4; .- .7.. ' •;:i'' l.• . 11 " "--ri,,ilii, "j -...i". .' . 't t ;. •' :•••Z'--' - 2112, . ..,.,t . •-•,. - ••,:-.,“,..r i•1, 1 .. __ '71% - .ott44,.. t, ...,,,,,,,i 4 imp...,,,,,.07!,;',_ • %.-"1",1,1,Q,,,._ ..„,,..,. , , 117' 1 ..'. ' ,4 s.kf \ - • * 'fp t .. • sr: t ..--: y'-,''..e;q',3'......,i,-k4itr.7"..?i*..W_.,:,'.`,'...4..-.r_.,..•W-!,-'i.,,......tl.0!-•''i.•.k'.. •:,'4,,.._1.,...,-•-.„./„. _•"_, ,...,:t..'.,-A,.,..-„,01_,t,,,i1.,..i,'-A,,,:,.,..t*.„.',..,.:.:,..,4,.'...1•.+.,4•0.1.','A, • i : V , ..AM.'':. :'-•O:r-.t'..,-.•t•s-• -,.•_,.N,'1.,..4.....,. -Nz^\-,.,_4'',.,'e''1,.•., 4.. AlN„. • • . 4' I. k- i .•.- t•-.4.. 4-1•, . . 4. o, ,.t.:.•-*,,.."-4,":,,,,„'`,,:•,,-,"i t.„f,W-.1-fit,•, _.' Alf!r- -''• '• -". .:''"""i,,,,, :•:•, ',,--. '-..i4f.-,•,:'-',.:— ..- . , . ---, ,,..- . '.,--. I. ..***1.,:te.:•-:- ''44 .":' ',. '• '—: 1 - a4vRi-4 0 P.seir ..: *‘ 1.7 el.7 • ' --' ''' .' - '''. '-'.-'54:141t. ':''. '40 '' -....... • _.V..' - t • ;,,-.,„„ro, • . „„,,,,..-ii.,,,.. ,,,,,. - ,.... „, ,.... „.-._••. ..4...- • ;447- . . , _. -„.•:- - ,ik '-..-'.;',,,,•!;..;,,Lty,, ,,, ,,.., , i ,, ,, ;.,-,,,, • ivr r : -it. ' 7•4•'.4. /11+ -7....--:^rt' " Ir.. l'•': • ... - --..• - dit,....42%, .!• •, c• IT,- - . . .1•.' ' • , •''' • • 't.. ''...- •L .*- '7-....4- , I, .,', -- i• .' ,,. . 1... ,...? 4,- , _. .-- • •‘• Alifte' . .. _-. ...- .• 't '1 -- - '• - - .4 ._ 4: * 4- ., k..... -... ti • ._..., .,. -- • - ..',#: A - • . , ,• 43:• . ' N4k4" . A.'" • ,..*. -t . ..i . ..'=---.•"t , !•- ,' '‘. - • . Ais , ---- , -it.10 •.,•-` • .., b ...i. - ' •vakk ''''s - WIN , i , n V '41'4 :. t: c", ' 4 ar.if- . ,,,, I 4- • / .f 1 ,i+ '' -.0 . ' 1 ; I .. t ,.. , 4 tti - • ' i ' ,.. J. . WI • . . .. . . -4. • " ,—t ;..,./' ' .4••, .. r , s 1., . ,., • 1 . .• , ,. '..;.. , I.:. • ,, ,,,,..,- 4 \, .. — „, "!: pt l f, : ',.'. L., 4. \ iv, .., i ilk • u, '-•1.; . , .Ot. -r• .'"'', I,,11 y, • V' ' q '-• - ' iii, '' ... • •r ir ' 11 • • . A . ,t tl,. „„... . o \ • .', 1.^.. ''''..),•\'‘‘.1N.'s)ts , ..., 0°. ...: ,i cu ,. . . . A. - , . ,,.,g.„_,it, ,,,..,,e:o's. . ., ,:ito • ,N" ‘,1. • , k ' •' ,' • .1 lm ti 04-, — ---- -- ..... -s- 111IPMEMEINEN- lii Surfing ma y -;x i, , - «.. ,1#4,. ,.2. -._ 4„ , _ _ . ,,,,, ,,i # , -,.,..'''...il : ^a. ° S . ix r a .„s t o 4. 4,4 i P* i s ` x 4 ` a ..--1410..WW1?Pt: • i 1. RESORTS(2•5 FLOORS:I TaiiillaillicePt 3 AO TERPARK Or,:flat: Elul:ACE • - ,MN lOrlEr. r IN RESORTS t WATERPARK I'ACILITIES WraliC.i..:'• ! ,Si1411 III RESTAURANTS&APARTMENTS ..* P 0 1 (2•5'LOORS) PROPER FY UNE i :--!'ENIPORARY BUILDINGS FOR PLAY L--j AREA&PUBS I AROUND THE LAKE' __.. r\ '.J TEE PORA.RY BUILDINGS FOR PLAY AREA . ERFORMANCE STAGE ?LAU fif 11;1011,1163 Of 11031100111001 . i, li AMU . —33E..+3€'044E.IIIIIIN.fitLITE.i — ..., - • • IA IW!O .-ri V 0 i.,.)ii E5i*Erramp2 i . ,, i —)131€551114:31130:0,11.11 3 I r 1 r i 1 ! i : I ..1.,., . 0 . , ,AAAAAAA- 0 ALAAAALAA ..' 4 : • :i AAAAAAAA ': ......... „ 0 LEA END;:ipir k 1p in : s ., -• 0 - ---------r-- 0Ea Elk P PAT • 1 IA IF A Srlirz F AMT ES !I; : I IA ; 0 li , • • , 0 4 , 0 i• 1i 1 riff.)111i3iMITENEOCE , PC EA Ur,illtriCE ; r III i.. ' i ' Illill .-r —LA10E PRAIEDE E:E P — ;•P)PEP:',U p«E !UPC:PPP:WE: OVERALL BUILD NG YOUT 2 ...u. , ................., Pleasure Island Market Research Construction Summary Overall Construction Summary MI-Time Annual Average Delivered Past 8 Quarters Deliveries Next 8 Quarters Proposed Next 8 Quarters I20 0 MAP OF 24 MONTH DELIVERIES, UNDER CONSTRUCTION, PROPOSED PAST AND FUTURE DELIVERIES Under Construction Properties Properties Units Percent of Inventory Avg. No.Units 000% 0 Low Average Median High Property Size in Units - - - - Number of Stories - - - - Average Unit Size SF - - - - Star Rating Estimated Delivery Date - - - - Months to Delivery - - - - Construction Period in Months - - - Under Construction Properties No under construction properties found. Deliveries Past 12 Months Summary Properties Units Vacancy Rate Avg.Asking Rent/Unit Unit Mix Low Average Median High Property Size in Units - - - - Studio Units - - -One Bedroom Units - - - - Two Bedroom Units - - - - Three Bedroom Units - - - - Property Attributes Low Average Median High Number of Stories - - - - Average Unit Size SF - - - - iRating Leasing Performance Low Average Median High Vacancy Rate - - - - Asking Rent Per Unit - - - - Effective Rent Per Unit - - - - Asking Rent Per SF - - - - Effective Rent Per SF - - - - Concessions - - - - Deliveries Past 12 Months Il No delivery properties found. UNITS UNDER CONSTRUCTION 1 250 50 ..- . 20 e s 2G. . 2C15 2016 2C."8 2019 J;7_ LJc_ CONSTRUCTION DELIVERIES IN UNITS PERCENT OCC UeED AT DELIVERY , • \ \ ��: �\ . NEW CONSTRUCTION OCCUPANCY AFTER DELIVERY BY YEAR BUILT 100% _._. .. • _._..._ • 80°0 60% . __.... . 40% 20% C,"I I I t t 1 I I I Delivery Q1 Q2 Q3 04 05 Q6 07 08 2020 ABSORPTION IN UNITS ASKING RENTAL RATES PER UNIT S1,80C $1.600 . . 51.400 81.200 91.000 5300 3600 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 ▪ Rents n Deiige;ies WItn • Overall 4..verege Rent ▪ 3 lYeas Sale Comparables Summary Sale Comparables Avg. Price/Unit(thous.) Average Price(mil.) Average Vacancy at Sale Sales Attributes Low Average Median High Sale Price - - - - I Price Per Unit - -- - Cap Rate - - - - Vacancy Rate at Sale - - - - Time Since Sale in Months - - - - Property Attributes Low Average Median High Property Size in Units - - - - Number of Floors - - - - Average Unit SF - - - - Year Built - - - - Star Rating Sale Comparables Summary No Sale Comparables Found Sale Comparables No Sale Comparables Found Sales Volume PORT ARTHUR/GROVES NEIGHBORHOOD SALES VOLUME IN UNITS Sales Pricing Geography Transaction Low Bottom 25% Median Average Top 25% High s United States 24.110 $5,00 $68,89 $187,58 $229,56 $490.77 $21,818,11 0 1 4 0 6 3 Beaumont 5 $53,00 $79.68 $118.50 $131,26 $143,52 $157,884 0 6 6 0 5 Port 1 $157,88 N/A $157,88 $157,88 N/A $157.884 Arthur/Grove 4 4 4 s Selected 0 - - - - - Sale Comps Sales Pricing Geography Transactions Low Bottom 25% Median Average Top 25% High United States 7,860 1.0% 3.3% 4.8% 5.2% 7.9% 25.0% Beaumont 3 6.4% N/A 7.2% 8.4% N/A 11.6% • Port Arthur/Groves 1 11.6% N/A 11.6% 11.6% N/A 11.6% Selected Sale 0 - - - - - - Comps PRICE PER UNIT SUMMARY FOR SALES IN PAST YEAR Cap Rates CAP RATE SUMMARY STATISTICS IN PAST YEAR Buyers TOP BEAUMONT MULTIFAMILY BUYERS PAST TWO YEARS Properties Bought Properties Sold Company Name Bldgs Units Volume Bldgs Units Volume RREAF Holdings 2 512 S63.520.987 0 0 - Blackstone Inc. 1 246 $38.839,504 0 0 - Hudson Advisors L.P. 176 $20,856.984 0 0 Joel Hersko 2 316 $12.400.000 0 0 - AMBO Properties 3 394 Si 0.850.000 0 0 - Compgsoft.Inc 1 120 $5 100.000 0 0 - Kimberly Workman 20 $1.060,000 0 0 - Karan Korpal 2 46 S825,000 0 0 - TYPES OF MULTIFAMILY BEAUMONT BUYERS PAST TWO YEARS Buying Volume Average Purchase Company Type Bldg Units Million Price/Unit Avg Price s s Private 10 1,8 8 _. $88.6 $68,832 $8,865,598 Private $38.8 $157,88 $38,839,50 Equity 1 246 4 4 4 Institutional 1 176 $20.8 $118,50 $20,856,98 6 5 4 REIT/Public 0 0 - - $0 $23 $46 $69 $92 Sellers TOP BEAUMONT MULTIFAMILY SELLERS PAST TWO YEARS Properties Sold Properties Bought Company Name 81dgs Units Volume Bldgs Units Volume BSR Real Estate investment Trust 2 512 563 520.987 3 0 - Preferred Apartment Communities.Inc 246 S38 839.504 0 0 - Macquarie Principal Finance Pty Ltd 1 176 S20.856.984 0 0 - Pillar Income Asset Management 1 176 520.856.984 0 0 - Windy City RE 1 96 512.406.000 0 0 - Dwell Wise.LP 2 125 510.85C.000 0 0 - Inff Investments Llc 1 120 55 100.000 0 0 - Dennis&Peneiope McBryan 1 20 51.060.000 0 0 - Pecos&Minor Llc 1 22 5825.000 0 0 - Joshua Hieronymus 1 7 5255.000 0 0 - MichaeiJohn Richard 1 4 569.000 0 0 - TYPES OF MULTIFAMILY BEAUMONT SELLERS PAST TWO YEARS Selling Volume Average Sale Company Type Bldg Unit Milton Price/Unit Avg Price s s s st REIT/Public 3 758 $102.3 $135,04 $34,120,16 6 0 3 Private 8 394 630.5 $77 560 $3,819,875 Private $20.8 $118,50 $20,856,98 Equity 1 176 6 5 4 Institutional 1 176 $20.8 $118,50 $20.856,98 6 5 4 $0 $30 $60 $90 $120 580 Pleasure Pier Blvd - Pleasure Isla ... PREPARED BY Bilal Asmar Commercial Realtor Demographic Overview Population (1 mi) Avg. HH Size(1 mi) Avg.Age(1 mi) Med. HH Inc. (1 mi) Population 1 Mile 3 Mile 5 Mile 2022 Population 522 17,936 41.488 2027 Population 532 17.752 40,642 Pop Growth 2022-2027 1.9% (1.0%) (2.0%) 2022 Average Age 43 38 37 Households 2022 Households 223 6,542 15,025 2027 Households 227 6,479 14,733 Household Growth 2022- 1.8% (1.0%) (1.9%) 2027 Median Household Income $29,721 $35.959 $40,351 Average Household Size 2.3 2.7 2.7 Average HH Vehicles 1 2 2 Mousing Median Home Value $68,103 $61,495 $71,346 Median Year Built 1954 1953 1957 Age & Pdi rat'or, a Ethnicity hP" POPULATION BY RACE 2022 Population Race 1 Mile 3 Mile 5 Mile White 82 15.71% 5,521 30.78% 20.645 49.76% Black 430 82.38% 11.137 62.10% 17.239 41.55% Asian 1 <1% 703 3.92% 2.206 5.32% American Indian 8 Alaskan 1 <1% 299 1.67% 687 1.66% Hawaiian 8 Pacific Islander 0 0.00% 8 <1% 33 <1% Other 1a 1.53% 267 1.49% 678 1.63% MILITARY POPULATION 2022 Population 1 3 Mile 5 Mile Mile Military 0 0.00% 10 <1% 17 <1% 14 Non-Military g 100.00 5,27 99.31 13,76 99.88 Workforce % 6 % 2 % Page 67 Port Arthur/Groves *w CoStar PREPARED BY Bilal Asmar Commercial Realtor Overview 12 Mo. Delivered Units 12 Mo.Absorption Units 0 (78) Vacancy Rate 12 Mo.Asking Rent Growth 11 . 8% 2 . 9% The vacancy rate in the Port Arthur/Groves Submarket has expanded moderately over the past year, but at 11.8%, essentially aligns with the long-term average. While developers have been active in recent years, nothing has delivered over the past 12 months. New supply will remain minimal in the near-term as nothing is currently underway. Rents have increased by an Historical Forecast Annual Trends Month Average Average Peak When Trough When Vacancy Change 2.3% 10.9% 11.6% 25.6% Q1 6.3% Q3 (YOY) Absorption Units (78) 46 (9) 543 Q4 (556) 01 Delivered Units 0 56 0 656 Q3 0 03 Demolished Units 0 0 1 0 Q3 0 Q3 Asking Rent 2.9% 1.6% 1.8'/0 7.8% Q2 -2.8% Q4 Growth(YOY) Effective Rent 2.8% 1.6% 1.8'/0 8.7% Q2 -3.4% Q4 Growth(YOY) Sales Volume $38.8M $7.7M N/A $49.7M Q3 $0 Q1 Absorption Under Current Quarter Units Vacancy Asking Effective Delivered Rats Rent Rent Units UnitsConstr Units &5 Star 1,034 6.0% $1,148 $1.143 4 0 0 Star 873 18.0% $1.039 $1,030 0 0 &2 Star 1.519 12.2% $853 $847 0 0 0 Submark.t 3,426 11.8% $991 $984 4 0 0 KEY INDICATORS impressive 2.8% over the past year. which exceeds the average annual growth of 2.1% over the past decade. There is some investment activity in the Port Arthur/Groves Submarket. Over the past three years, there have been 10 transactions.The market price,which is an estimated price of all properties in the submarket, has risen dramatically over that time period and now stands at$99,816/unit. Vacancy Vacancy Rent Apartments command an average price Port Arthur/Groves Multi-Family tag of about$990/month in the Port Arthur/Groves Submarket, right in rowth rate over the past three years. line with the average in the roger-term view, apartment rents in Port Arthur/Groves structurally affordable Beaumont their 10-year-ago levels.That comes just below the metro. 3.2% metro-wide uptick over the past decade. Rents in the submarket grew by a moderate 2.8%year over year as of 2022Q4, which was about the same as DAILY ASKING RENT PER SF a-, „ Rent Construction Construction All-Time Annual Avg. Units Delivered Units Past 8 Qtrs Delivered Units Next 8 Qtrs Proposed Units Next 8 Qtrs 56 OH . PAST 8 QUARTERS DELIVERIES. UNDER CONSTRUCTION,&PROPOSED PAST&FUTURE DELIVERIES IN UNITS Sales Port Arthur/Groves recorded 5 apartment sales over the past year; which is roughly in line with the number of deals in any given year. Over the past five years, annualized sales volume has averaged$6.7 million. But volume hit$38.8 million during these past 12 months, the highest level recorded over that five-year period. The market price,which is derived from the price SALES VOLUME&MARKET SALE PRICE PER UNIT movement of all apartment communities in the submarket, now sits at$99,816iunit.That figure is up from this time last year. and pricing is roughly in line with the metro's average. The market cap rate has held firm at 6.1%, and it's in close range of the region's average. The current rate is under the submarket's five-year average. Sales MARKET CAP RATE Forecast Try,: 6.8% 6.6% 6.4% 6.2°:c "� 6.0°rc 6 8% 2017 2018 2019 202C 2021 2022 2023 2024 2025 2026 Port Ar••.n.;r'Gro es 3 Star • Port Art..rGroves 4-5 Star M Port A:rthL.r Groves 5eaurror: Sales Past 12 Months Sale Comparables Avg. Price/Unit(thous.) Average Price(mil.) Average Vacancy at Sale Sates Low Average Median High Attributes Sale $38,839,504 $38,839,504 $38,839,504 $38,839,504 Price Price/Un $157,884 $157,884 $157,884 $157,884 it Cap 11.6% 11.6% 11.6% 11.6% Rate Vacancy 4.5% 21.4% 16.6% 51.1% Rate At Sale Time 0.4 3.1 3.7 4.4 Since Sale in Months Property Low Average Median High Attributes Property 14 133 136 246 Size in Units Number 2 2 2 3 of Floors Average 546 773 831 882 Unit SF Year 1958 1973 1962 2010 Built y, Star * * * * * * * * 7�1 if* * * Rating 3.3 Sales Past 12 Months RECENT SIGNIFICANT SALES Property Information Sale Information Property Name/Address Ratin Yr Unit Vacanc Sale Date Price Price/Unit Price/S g Built s y F Stone Creek Port Arthur 6/23/202 $38,839,50 $157,88 3035 Lake Arthur Or 2010 246 4.5% 2 4 4 $165 Port Arthur Park Apartments 1959 186 51.1% 10/6/202 2 1348 Jefferson Dr Tropicana Apartments 5035 Monroe St 1965 86 4.7% 7/5/2022 - - 1349 Jefferson Dr 1958 14 28.6% 6/6/2022 - - - OVERALL SUPPLY& DEMAND Inventory Absorption Year Units Growth %Growth Units %of Inv Construction Ratio 2026 3,422 (1) 0% (16) -0.5% 0.1 2025 3,423 (1) 0% (10) -0.3% 0.1 2024 3,424 (1) 0% 8 0.2% - 2023 3,425 (1) 0% 16 0.5% - 2022 3,426 0 0% (38) -1.1% 0 YTD 3,426 0 0% (34) -1.0% 0 2021 3,426 0 0% 45 1.3% 0 2020 3,426 190 5.9% 161 4.7% 1.2 2019 3,236 0 0% 133 4.1% 0 2018 3,236 0 0% 272 8.4% 0 2017 3,236 0 0% (529) -16.3% 0 2016 3,236 0 0% 12 0.4% 0 2015 3,236 0 0% (59) -1.8% 0 2014 3,236 0 0% 203 6.3% 0 2013 3,236 0 0% (15) -0.5% 0 2012 3,236 0 0% (15) -0.5% 0 2011 3,236 0 0% 97 3.0% 0 2010 3,236 630 24.2% 543 16.8% 1.2 4&5 STAR SUPPLY&DEMAND Inventory Absorption Year Units Growth %Growth Units %of Inv Construction Ratio 2026 1,034 0 0% (5) -0.53/o 0 2025 1,034 0 0% (3) -0.3% 0 1 2024 1.034 0 0% 3 0.3% 0 2023 1.034 0 0% 6 0.6% 0 2022 1,034 0 0% (11) -1.1% 0 YTD 1.034 0 0% (10) -1.0% 0 2021 1,034 0 0% 37 3.6% 0 2020 1,034 0 0% 9 0.9% 0 2019 1,034 0 0% 111 10.7% 0 2018 1,034 0 0% (80) -7.7% 0 2017 1.034 0 0% (58) -5.6% 0 2016 1,034 0 0% (9) -0.9% 0 2015 1,034 0 0% (22) -2.1% 0 2014 1,034 0 0% 70 6.8% 0 2013 1,034 0 0% 30 2.9% 0 2012 1,034 0 0% 12 1.2% 0 2011 1.034 0 0% 112 10.8% 0 2010 1,034 618 148.6% 514 49.7% 1.2 3 STAR SUPPLY&DEMAND Inventory Absorption Year Units Growth %Growth Units %of Inv Construction Ratio 2026 873 0 0% (4) -0.5% 0 2025 873 0 0% (3) -0.3% 0 2024 873 0 0% 2 0.2% 0 2023 873 0 0% 4 0.5% 0 1 2022 873 0 0% 22 2.5% 0 YTD 873 0 0% 23 2.6% 0 4 2021 873 0 0% (42) -4.8% 0 2020 873 190 27.8% 97 11.1% 2.0 2019 683 0 0% 0 0% - 2018 683 0 0% 71 10.4% 0 2017 683 0 0% (47) -6.9% 0 2016 683 0 0% 27 4.0% 0 4 2015 683 0 0% (3) -0.4% 0 2014 683 0 0% 32 4.7% 0 2013 683 0 0% (48) -7.0% 0 2012 683 0 0% (6) -0.9% 0 2011 683 0 0% (8) -1.2% 0 2010 683 0 0% (1) -0.1% 0 1 &2 STAR SUPPLY&DEMAND inventory Absorption Year Units Growth %Growth Units %of Inv Construction Ratio 2026 1,515 (1) -0.1% (7) -0.5% 0.1 2025 1,516 (1) -0.1% (4) -0.3% 0.3 2024 1,517 (1) -0.1% 3 0.2% - 2023 1,518 (1) -0.1% 6 0.4% - 2022 1,519 0 0% (49) -3.2% 0 YTD 1,519 0 0% '(47) -3.1% 0 2021 1,519 0 0% 50 3.3% 0 2020 1,519 0 0% 55 3.6% 0 2019 1,519 0 0% 22 1.4% 0 2018 1,519 0 0% 281 18.5% 0 2017 1,519 0 0% (424) -27.9% 0 2016 1,519 0 0% (6) -0.4% 0 2015 1,519 0 0% (34) -2.2% 0 2014 1,519 0 0% 101 6.6% 0 2013 1,519 0 0% 3 0.2% 0 2012 1,519 0 0% (21) -1.4% 0 2011 1,519 0 0% (7) -0.5% 0 2010 1,519 12 0.8% 30 2.0% 0.4 OVERALL VACANCY&RENT Vacancy Market Rent Effective Rents Year Units Percent Ppts Chg Per Unit Per SF %Growth Ppts Chg Units Per SF 2026 407 11.9% 0.4 $1,083 $1.30 1.9% (0.5) $1,076 $1.29 2025 392 11.4% 0.3 $1,063 $1.27 2.5% 0.5 $1,056 $1.26 2024 383 11.2% (0.2) $1,038 $1.24 2.0% (1.2) $1;031 $1.23 2023 392 11.4% (0.5) $1,018 $1.22 3.1% 1.4 $1,011 $1.21 2022 408 11.9% 1.1 $987 $1.18 1.7% (5.3) $980 $1.17 YTD 405 11.8% 1.0 $991 $1.19 2.8% (4.2) $984 $1.18 2021 372 10.9% (1.3) $970 $1.16 7.0% 8.9 $959 $1.15 OW- 2020 415 12.1% 0.2 $907 $1.09 -1.9% (3.6) $891 $1.07 2019 384 11.9% (4.1) $925 $1.11 1.6% (2.2) $909 $1.09 2018 517 16.0% (8.4) $910 $1.09 3.8% 1.8 $903 $1.08 2017 789 24.4% 16.4 $876 $1.05 2.0% 0.6 $871 $1.04 2016 260 8.0% (0.4) $859 $1.03 1.4% 0.2 $839 $1 2015 272 8.4% 1.8 $847 $1.01 1.3% 1.1 $812 $0.97 2014 212 6.6% (6.2) $837 $1 0.2% (1.5) $818 $0.98 2013 414 12.8% 0.5 $835 $1 1.7% 0.9 $819 $0.98 2012 397 12.3% 0.5 $821 $0.98 0.8% 0 $804 $0.96 2011 382 11.8% (3.0) $814 $0.97 0.8% 1.7 $807 $0.97 2010 479 14.8% (0.2) $807 $0.97 -0.9% - $793 $0.95 4&5 STAR VACANCY&RENT Vacancy Market Rent Effective Rents Year Units Percent Ppts Chg Per Unit Per SF %Growth Ppts Chg Units Per SF 2026 61 5.9% 0.4 $1,235 $1.41 1.9% (0.7) $1,229 $1.40 2025 57 5.5% 0.2 $1,212 $1.38 2.5% 0.3 $1,207 $1.38 2024 54 5.2% (0.3) $1,182 $1.35 2.2% (1.2) $1,177 $1.34 2023 57 5.5% (0.6) $1,156 $1.32 3.4% 8.8 $1,151 $1.31 2022 63 6.1% 1.0 $1,118 $1.27 -5.4% (19.3) $1,113 $1.27 YTD 62 6.0% 0.9 $1,148 $1.31 -1.6% (15.5) $1,143 $1.30 2021 53 5.2% (3.4) $1,181 $1.35 14.0% 18.8 $1,179 $1.34 2020 89 8.6% (0.7) $1,036 $1.18 -4.8% (6.3) $1,021 $1.16 2019 96 9.3% (10.7) $1,088 $1.24 1.5% (2.0) $1,087 $1.24 2018 207 20.0% 7.7 $1,072 $1.22 3.5% 4.0 $1,063 $1.21 2017 127 12.3% 5.6 $1,036 $1.18 -0.5% (0.6) $1,030 $1.17 2016 69 6.7% 0.9 $1,042 $1.19 0.1% 3.3 $1,013 $1.16 2015 60 5.8% 2.1 $1,041 $1.19 -3.2% (2.1) $954 $1.09 2014 39 3.7% (6.8) $1,076 $1.23 -1.1% (2.8) $1,035 $1.18 2013 109 10.6% (2.8) $1,087 $1.24 1.7% 1.3 $1,054 $1.20 2012 138 13.4% (1.2) $1,069 $1.22 0.4% (0.1) $1,039 $1.18 2011 150 14.5% (10.9) $1,065 $1.21 0.5% 3.6 $1,053 $1.20 2010 264 25.5% (12.7) $1,060 $1.21 -3.1% - $1,025 $1.17 3 STAR VACANCY&RENT Vacancy Market Rent Effective Rents Year Units Percent Ppts Chg Per Unit Per SF '4 Growth Ppts Chg Units Per SF 2026 160 18.3% 0.5 $1,145 $1.43 1.9% (0.5) $1,136 $1.42 2025 156 17.8% 0.3 $1,124 $1.40 2.4% 0.6 $1,115 $1.39 2024 153 17.5% (0.2) $1,097 $1.37 1.8% (1.2) $1,088 $1.36 2023 154 17.7% (0.4) $1,078 $1.34 3.0% (0.6) $1,069 $1.33 2022 158 18.1% (2.5) $1,046 $1.30 3.6% 0.2 $1,038 $1.29 YTD 157 18.0% (2.6) $1,039 $1.30 3.4% 0 $1,030 $1.28 2021 180 20.6% 4.8 $1,010 $1.26 3.4% 6.0 $1,002 $1.25 2020 138 15.8% 9.2 $977 $1.22 -2.6% (5.0) $943 $1.18 2019 45 6.6% 0 $1,003 $1.25 2.4% (1.4) $955 $1.19 2018 45 6.6% (10.4) $980 $1.22 3.8% 1.8 $976 $1.22 2017 116 17.0% 6.8 $944 $1.18 2.0% 0.2 $936 $1.17 2016 69 10.1% (4.1) $925 $1.15 1.9% (3.2) $902 $1.12 2015 97 14.2% 0.5 $908 $1.13 5.1% 4.1 $893 $1.11 2014 93 13.7% (4.5) $864 $1.08 1.0% (0.1) $854 $1.06 2013 124 18.2% 7.1 $856 $1.07 1.2% 0.4 $844 $1.05 2012 76 11.1% 0.9 $846 $1.05 0.8% 0.2 $835 $1.04 2011 69 10.1% 1.3 $839 $1.05 0.6% (0.7) $833 $1.04 2010 60 8.8% 0.1 $834 $1.04 1.3% - $828 $1.03 1 &2 STAR VACANCY&RENT Vacancy Market Rent Effective Rents Year Units Percent Ppts Chg Per Unit Per SF %Growth Ppts Chg Units Per SF 2026 186 12.3% 0 4 $942 $1.14 1.9% (0.5) $936 $1.13 2025 180 11.8% 0.2 $925 $1.12 2.4% 0.6 $918 $1.11 2024 176 11.6% (0.2) $903 $1.09 1.8% (1.2) $897 $1.08 2023 180 11.8% (0.4) $887 $1.07 3.0% (4.6) $880 $1.07 2022 187 12.3% 3.2 $861 $1.04 7.6% 4.5 $855 $1.03 YTD 185 12.2% 3.1 $853 $1.03 6.8% 3.7 $847 $1.03 2021 138 9.1% (3.3) $800 $0.97 3.1% 1.7 $780 $0.94 2020 188 12.4% (3.6) $776 $0.94 1.4% 0.2 $771 $0.93 2019 243 16.0% (1.5) $765 $0.93 1.2% (2.9) $759 $0.92 2018 265 17.5% (18.5) $756 $0.91 4.1% (0.5) $749 $0.91 2017 546 35.9% 28.0 $726 $0.88 4.6% 2.0 $722 $0.87 2016 121 8.0% 0.4 $694 $0.84 2.6% (0.8) $682 $0.83 2015 115 7.6% 2.3 $676 $0.82 3.4% 2.3 $666 $0.81 2014 80 5.3% (6.6) $654 $0.79 1.1% (1.1) $646 $0.78 2013 180 11.8% (0.2) $647 $0.78 2.2% 0.8 $641 $0.78 2012 183 12.0% 1.4 $633 $0.77 1.4% 0 $623 $0.75 2011 162 10.7% 0.5 $625 $0.76 1.4% 1.2 $621 $0.75 2010 155 10.2% (1.3) $616 $0.75 0.2% - $612 $0.74 OVERALL SALES Completed Transactions(1) Market Pricing Trends(2) Year Deals Volume Turnover Avg Price Avg Price/Unit Avg Cap Rah Price/Unit Price Index Cap Rate 2026 - - - - - $106,883 289 6.2% 2025 - - - - - - $104,685 283 6.2% ! 2024 - - - - - - $102,050 276 6.2% 2023 - - - - - - $99,849 270 6.2% 2022 • - - - - - $99,006 268 6.1% YTD 4 $38.8M 15.5% $38,839,504 $157,884 11.6% $99,816 270 6.1% 2021 4 $0 16.4% - - 7.5% $95,821 259 6.0% 2020 2 $0 7.0% - - - $87,171 236 6.2% 2019 - - - - - - $80,916 219 6.5% 2018 1 $6.3M 3.1% $6,260,000 $61,980 5.5% $75,837 205 6.7% 2017 2 $0 1.9% - - - $71,294 193 6.8% 2016 1 $7.6M 4.4% $7,600,000 $53,147 7.0% $69,710 189 6.9% 2015 6 $48.8M 27.6% $24,375,000 $94,112 6.5% $67,526 183 6.9% 2014 4 $26.7M 29.9% $26,650,000 $71,640 66.6% $62,251 169 7.2% 2013 - - - - - - $55,944 151 7.6% 2012 3 $298.8K 14.0% $298,750 $7,287 11.0% $55,419 150 7.5% 2011 1 $3.9M 4.4% $3,850,000 $26,923 9.9% $53,326 144 7.6% 1. Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. 2. Market price trends data is based on the estimated price movement of all properties in the market,informed by actual transactions that have occurred. 4&5 STAR SALES Completed Transactions(1) Market Pricing Trends(2) Year Deals Volume Turnover Avg Price Avg Price/Unit Avg Cap Rate Price/Unit Price Index Cap Rate 2026 - - - - - - $115,859 255 6.1% 2025 - - - - - - $113,616 250 6.1% 2024 - - - - - - $110,756 244 6.1% 2023 - - - - - - $108,177 238 6.1% 2022 - - - - - $107,058 236 6.0% YTD 1 $38.8M 23.8% $38,839,504 $157,884 - $110,510 243 6.0% 2021 1 $0 36.0% - - - $107,441 237 6.0% 2020 - - - - - - $98,218 216 6.1% 2019 - - - - - - $92,554 204 6.3% 2018 - - - - - - $86,572 191 6.6% 2017 - - - - - - $82,626 182 6.7% 2016 - - - - - - $81,623 180 6.6% 2015 2 $48.8M 50.1% $24,375,000 $94.112 6.5% $80,783 178 6.6% 2014 2 $26.7M 49.9% $26,650,000 $71.640 6 6% $75,782 167 6.7% 2013 - - - - - - $69,213 152 7.0% 2012 - - - - - - $68,590 151 7.0% 2011 - - - - - - $66,395 146 7.0% 1. Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. 2. Market price trends data is based on the estimated price movement of all properties in the market,informed by actual transactions that have occurred. 3 STAR SALES Completed Transactions(1) Market Pricing Trends(2) Year Deals Volume Turnover Avg Price Avg Prtce/Unk Avg Cap Rate Price/UM Price Index Cap Rate 2026 - - - - - - $130,810 298 6.1% 2025 - - - - - - $128,011 292 6.1% 2024 - - - - - - $124,755 284 6.1% 2023 - - - - - - $122,136 278 6.1% 2022 - - - - - - $121,202 276 6.0% YTD 3 $0 32.8% - - 11.6% $120:903 275 6.0% 2021 - - - - - - $115,967 264 6.0% 2020 - - - - - - $104,547 238 6.1% 2019 - - - - - - $96,889 221 6.4% 2018 1 $6.3M 14.8% $6,260,000 $61.980 5.5% $91,200 208 6.6% 2017 - - - - - - $85,892 196 6.7% 2016 - - - - - - $83,284 190 6.8% 2015 3 $0 53.0% - - - $79,108 180 6.9% 2014 - - - - - - $74,021 169 7.1% 2013 - - - - - - $67,478 154 7.5% 2012 1 $0 27.2% - - - $66,706 152 7.4% 2011 - - - - - - $63,899 146 7.4% 1. Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. 2. Market price trends data is based on the estimated price movement of all properties in the market,informed by actual transactions that have occurred. 1 &2 STAR SALES Completed Transactions(1) Market Pricing Trends(2) Year Deals Volume Turnover Avg Price Avg Price/Unit Avg Cap Rate Price/Unit Price Index Cap Rate 202 - - - - - $87,021 320 6.3% 6 202 - - - - - - $85,199 314 6.3% 5 202 - - -- $83,074 306 6.3% 4 202 - - - - - - $81,371 300 6.3% 3 202 - - - - - - $80,768 297 6.2% 2 YTD - - - - - - $80,418 296 6.1% 202 3 $0 12.5% - - 7.5% $76,332 281 6.1% 1 202 2 $0 15.9% - - - $69,664 257 6.2% 0 201 - - - - - - $63,815 235 6.6% 9 201 - - - - - - $59,700 220 6.8% 8 201 2 $0 3.9% - - - $55,190 203 7.0% 7 201 1 $7.6M 9.4% $7.600,000 $53,147 7.0% $53,800 198 7.0% 6 201 1 $0 0.8% - - - $51,845 191 7.2% 5 201 2 $0 29.8% - - - $46,275 170 7.5% 4 201 - - - - - - $40,282 148 8.1% 3 201 2 $298.8K 17.6% $298,750 $7,287 11.0% $39,967 147 8.0% 2 201 1 $3.9M 9.4% $3,850,000 $26,923 9.9% $38,352 141 8.1% 1 1. Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. 2. Market price trends data is based on the estimated price movement of all properties in the market,informed by actual transactions that have occurred. DELIVERIES&UNDER CONSTRUCTION Inventory Deliveries Net Deliveries Under Construction Year Bldgs Units Vacancy Bldgs Units Bldgs Units Bldgs Units 202 - 3.422 11.9% - 0 - (1) - - 6 202 - 3,423 11,4% - 0 - (1) - - 5 202 - 3,424 11.2% - 0 - (1) - - 4 202 - 3,425 11.4% - 0 - (1) - - 3 202 - 3,426 11.9% - 0 - 0 - - 2 YTD 26 3,426 11.8% 0 0 0 0 0 0 202 26 3,426 10.9% 0 0 0 0 0 0 I 1 202 26 3,426 12.1% 1 190 1 190 0 0 0 201 25 3,236 11.9% 0 0 0 0 1 190 9 201 25 3,236 16.0% 0 0 0 0 1 190 8 201 25 3.236 24.4% 0 0 0 0 0 0 7 201 25 3,236 8.0% 0 0 0 0 0 0 6 201 25 3,236 8.4% 0 0 0 0 0 0 5 201 25 3,236 6.6% 0 0 0 0 0 0 4 201 25 3,236 12.8% 0 0 0 0 0 0 3 201 25 3,236 12.3% 0 0 0 0 0 0 2 201 25 3,236 11.8% 0 0 0 0 0 0 1 201 25 3.236 14.8°/ 3 630 3 630 0 0 0 CoStar- ` PREPARED BY Bilal Asmar Commercial Realtor Overview 12 Mo. Delivered Units 12 Mo. Absorption Units 800 278 ii Vacancy Rate 12 Mo.Asking Rent Growth 11 . 8% 2 . 5% Beaumont's multifamily market is contending with the latest supply wave,following the delivery of the 800 units that opened here over the past year. A net of 280 units have been absorbed over the past 12 months,which compares to the market's five-year average of 93 units. The current vacancy rate stands at 11.8% and is notably higher than the National Index of 5.5%, but this is nothing new as the market has historically underperformed the National Index. Vacancies in Beaumont have trended well above the national index for years due to a myriad of headwinds challenging multifamily fundamentals, including demographic shifts in the working-age population, net migration, and single-family home starts. In fact, for most of the past five years, the region has grappled with double-digit vacancies. The Orange County and Port Arthur/Groves submarkets often rank among the highest in Beaumont in terms of vacancy rate.While they both have received a smaller number of new units in recent years when compared to North/West Beaumont, in terms of percentage of inventory, it has been significantly higher. During the past decade,their total inventories have both expanded by about 8%; meanwhile,the North/West Beaumont's total inventory has only expanded by about 2% during this time. On the other hand,the vacancy rate in submarkets like Nederland/Port Neches,an area that has been largely bypassed by developers over the past decade, consistently ranks among the lowest in the metro. Beaumont has a deep pool of renters-by-necessity, a cohort buoyed by the area's extensive blue-collar employment sectors, particularly the trade, transportation and utilities industry, as well as the mining, logging and construction one. Beaumont remains relatively blue collar in its apartment stock. In fact, around 80%of Beaumont's inventory is rated 3 Star or less.The metro is home to nearly 8,000 affordable units, the vast majority of which are located in the Port Arthur/Groves Submarket, which comprises more than half of Beaumont's affordable units. Around 1,700 market rate units were delivered in Beaumont this past decade, expanding total inventory by about 10%during this time. During this time, more than 70%of all new units were delivered in the North/West Beaumont Submarket. It is one of the youngest submarkets in terms of demographics. Furthermore, incomes here are some of the highest in Beaumont, as neighborhoods with median household incomes well north of$75,000 are common in the submarket. Prior to the pandemic, the Sabine Pass area had seen tremendous investment in recent years, numbering in the billions of U.S. dollars, in liquefied natural gas(LNG)elevators. Cheniere and Golden Pass are the two big LNG plants that opened here in recent years. The latter is a partnership between ExxonMobil and Qatar Petroleum.This joint venture is working on an additional $10 billion expansion in Sabine Pass. When completed,the plant will be one of the largest LNG export facilities in the world. The facility is expected to be operational in 2024.The plan to export LNG from Exxon's Golden Pass terminal is a testament to the renaissance in U.S. energy production. The facility was initially built to import LNG, but the surge in U.S. natural gas production over the past decade means American drillers are now eyeing overseas buyers.These downstream mega-projects tend to employ thousands of temporary construction workers and leave behind a few hundred permanent jobs. However, the permanent jobs that are created tend to be higher-paying,often six-figure, blue-collar jobs. These are accretive to the spending power of the local economy. What will be interesting to watch is where these new Port Arthur-based permanent employees will decide to live. If history is a lesson,they will continue largely to live in the western suburbs of Beaumont,where the higher demographic communities and high-ranking schools are located. However,there are also pockets of Port Arthur with high-ranking schools and communities boasting higher demographics than the surrounding area,which are a far shorter commute to Sabine Pass.This area has seen some new multifamily development in recent years. Asking rents in Beaumont are$950/month, which is nearly 30%less than rates in nearby Houston and typical of a secondary market.They are also about$500/month less than the national average. Thanks to a surge in demand, annual rent growth has improved significantly over the past few quarters and at 2.5%, stands at a record high. Market cap rates have tightened across Beaumont. although the rate of compression has slowed from earlier Overview years of the last expansion. Beaumont's market cap rates are almost 1% above the national benchmark of 5% and above many major metros across the Southeast, such as Dallas, Houston, and Atlanta. Average pricing comes at a significant discount to the national benchmark,with Beaumont averaging roughly$99,000/unit compared to the U.S. average of$260,000/unit. • Properties that trade are often small (fewer than 50 units)and several decades old. And while investors have continued to favor small,vintage properties, some of the market's larger properties have helped drive deal volume over the past few quarters. For example, during 22Q2, the 118-unit Sherwood Forest Apartments sold for an undisclosed price.The 1994-built property was fully leased at the time of sale. CoStar estimates that it traded for approximately $6 million ($51,000/unit). KEY INDICATORS ve Absorption Delivered Under Constr Current Quarter Units Vacancy Rats Asking Rent E ent Units un Units 4&5 Star 2943 6.6% $1,154 $1,146 6 0 0 3 Star 8.061 14.8% $966 $954 25 0 0 1 &2 Star 6.922 10.5% $831 $825 (1) 0 0 1lsrkst 17,926 11.8% $951 $142 30 0 0 Historical Forecast Annual Trends Monte Average Average Peak When Trough When Vacancy Change 2.5% 9.2% 11.0% 12.6% 2017 Q4 5.6% 2000 Q4 (YOY) Absorption Units 278 196 91 1.381 2010 Q4 (619) 2017 Q4 Delivered Units 800 264 110 1,656 2010 Q3 0 2021 Q3 Demolished Units 0 1 4 32 2016 Q3 0 2022 Q3 Asking Rent Growth 2.5% 1.8% 2.1% 5.2% 2007 Q3 -2.1% 2009 Q4 (YOY) Effective Rent 2.0% 1.8% 2.1% 5.7% 2018 Q1 -2.3% 2010 Q2 Growth(YOY) Sales Volume $84M $31.6M N/A $138.3M 2020 Q4 $0 2014 Q3 Vacancy ABSORPTION,NET DELIVERIES&VACANCY 1.000 13%Forecast 800 •,/�.�� \ ( 12% 600 - � 11 • 400 i f 10% _ 200 ! 9% i • 0 I�' ! ! t 1 i iI 111 i1$ 1 .� __ . . •■ . aa 8% -200 7% -400 6% • -600 - 5% -800 4% -1.000 ; ' • ' ; . , ' ; . . '3% 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 • Absorption • Net Deliveries ■ Vacancy United States Vacancy Vacancy VACANCY RATE 18% ' Forecast 16% iiNn 14% \ 12% ,..1\ '��"~� w. 8% 4% 2% i I i I 1 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 I Beaumont 3 Star ■ Beaumont 4-5 Star • Beaumont United States DAILY ASKING RENT PER SF $1 14 $1 11, $110 $1.08 $1.06 $1.04 $1.02 $1.00 $0.98 $0.96 J" 2017 2018 2019 2020 2021 2022 $ Beau-ncn: MARKET RENT PER UNIT BY BEDROOM $1.300 $1.200 Si 100 $1.000 S900 - . . 3800 S700 3800 f. $500 - _ . .r�. ` 2017 2018 2019 2020 2021 2022 a Studic ■ Bed 0 2 Sec 3 Be:.! 4&5 STAR EXPENSES PER SF(ANNUAL) Operating Capital Expenditures Expenses Market/Cluster Mgmt Admin. Payroll Water Utilities Maint Insurance Taxes Appliance Structural Other Total Beaumont $0.47 $0.80 $0.50 $0.44 $0.67 $0.99 $0.36 $2.27 $0.10 $0.31 $0.86 $7.77 Central/South $0.47 $0.80 $0.50 $0.44 $0.67 $0.99 $0.36 $2.27 $0.10 $0.31 $0.86 $7.77 Beau... Nederland/Port $0.47 $0.80 $0.50 $0.44 $0.67 $0.99 $0.36 $2.27 $0.10 $0.31 S0.86 57.77 Nec... North/West $0.47 $0.80 $0.50 $0.44 $0.67 $0.99 $0.36 $2.27 $0.10 $0.31 $0.86 $7.77 Beaumont Orange County $0.47 $0.80 $0.50 $0.44 $0.67 $0.99 $0.36 $2.27 $0.10 $0.31 $0.86 $7.77 Port Arthur/Groves $0.47 $0.80 $0.50 $0.44 $0.67 $0.99 $0.36 $2.27 $0.10 $0.31 $0.86 $7.77 Expenses are estimated using NCREIF.IREM,and CoStar data using the narrowest possible geographical definition from Zip Code to region. 3 STAR EXPENSES PER SF(ANNUAL) Operating Capital Expenditures Expenses Market ICluster Mgmt. Admin. Payroll Water Utilities Maint Insurance Taxes Appliance Structural Other Total Beaumont $0.40 $0.79 $0.48 $0.42 $0.64 $0.88 $0.34 $1.56 $0.10 $0.24 $0.75 $6.60 Central/South $0.40 $0.80 $0.48 $0.42 $0.64 $0.88 $0.35 $1.58 $0.10 $0.24 $0.75 $6.64 Beau... Hardin County $0.38 $0.80 $0.47 $0.42 $0.63 $0.85 $0.35 $1.42 $0.09 $0.22 $0.73 $6.36 Nederland/Port $0.38 $0.80 $0.47 $0.42 $0.63 $0.85 $0.35 $1.42 $0.09 $0.22 $0.73 $6.36 Nec... North/West $0.40 $0.78 $0.48 $0.42 $0.64 $0.89 $0.34 $1.63 $0.10 $0.25 $0.76 $6.69 Beaumont Orange County $0.39 $0.80 $0.48 $0.42 $0.64 $0.87 $0.35 $1.52 $0.10 $0.23 $0.74 $6.54 Port Arthur/Groves $0.38 $0.77 $0.47 $0.41 $0.63 $0.85 $0.33 $1.35 $0.09 $0.22 $0.72 $6.22 Expenses are estimated using NCREIF,IREM,and CoStar data using the narrowest possible geographical definition from Zip Code to region. 1 &2 STAR EXPENSES PER SF(ANNUAL) Operating Capital Expenditures Expenses Market/Cluster Mgmt. Admin. Payroll Water Utilities Maint Insurance Taxes Appliance Structural Other Total Beaumont $0.34 $0.66 $0.45 $0.40 $0.60 $0.83 $0.28 $1 $0.08 $0.21 $0.68 $5.53 Central/South $0.34 $0.65 $0.45 $0.40 $0.60 $0.83 $0.28 $0.98 $0.08 $0.21 $0.67 $5.49 Beau... Hardin County $0.34 $0.65 $0.45 $0.40 $0.60 $0.83 $0.28 $0.98 $0.08 $0.21 $0.67 $5.49 Nederland/Port $0.34 $0.67 $0.45 $0.40 $0.61 $0.83 $0.29 $1.04 $0.08 $0.21 $0.68 $5.60 Nec... North/West $0.34 $0.66 $0.45 $0.40 $0.60 $0.83 $0.28 $1 $0.08 $0.21 $0.68 $5.53 Beaumont Orange County $0.34 $0.67 $0.45 $0.40 $0.61 $0.83 $0.29 $1.04 $0.08 $0.21 $0.68 $5.60 Port Arthur/Groves $0.34 $0.66 $0.45 $0.40 $0.61 $0.83 $0.28 $1.02 $0.08 $0.21 $0.68 $5.56 Expenses are estimated using NCREIF.IREM:and CoStar data using the narrowest possible geographical definition from Zip Code to region. Construction Under Construction Properties Properties Units Percent of Inventory Avg. No. Units Sale' Beaumont is a midsized apartment metro that had 21 market-rate apartment sales close over the past 12 months, similar to many of its peers.That was more of the same for the market,with deal flow keeping pace with what was typical over the previous five years. Annual sales volume has averaged $50.8 million over the past five years,and the 12-month high in investment volume hit$138 million over that stretch. In the past 12 months specifically, $83.8 million worth of multifamily assets sold. Deals involving mid-tier apartments influenced that sales volume in the past year,with$44.1 million invested in the market. SALES VOLUME&MARKET SALE PRICE PER UNIT Market pricing, based on the estimated price movement of every market-rate property in the metro, currently sits near$99,000/door.That figure is up over this time last year, and the price is a large discount to the overall multifamily average for the country. In fact,the multifamily market price in Beaumont is more than 50% below the average for the entire United States.The market cap rate has held firm, and it remains structurally higher than those seen across the United States on average. Sales MARKET CAP RATE 5% Forecast 7 ,J _ 2018 2019 2020 2021 2022 2023 202 2025 202: Sales Past 12 Months Sale Comparables Avg. Price/Unit(thous.) Average Price (mil.) Average Vacancy at Sale Saps Low Average Median High Attributes Sale $1,060,000 $16,801.298 $12,400,000 $38,839,504 Price Price/Un $53,000 $131,260 $118,505 $157,884 it Cap 6.4% 8.4% 7.2% 11.6% Rate Vacancy 0% 10.2% 8.3% 100% Rate At Sale Time 0.4 6.2 6.8 11.9 Since Sale in Months Property Low Average Median Nigh Attributes Property 8 92 73 265 Size in Units Number 2 2 2 3 of Floors Average 546 841 828 1,224 Unit SF Year 1958 1978 1968 2010 Built y y, Star * * * * * 7f �[ Rating 2 7 10/19/2022 Page 99 Sales Past 12 Months RECENT SIGNIFICANT SALES Property Information Sale Information Property Name/Address Rating Yr Built Units Vacancy Sale Date Price Price/Unit Price/SF Stone Creek Port Arthur 3035 Lake Arthur Dr 2010 246 4.5% 6/23/2022 $38,839,504 $157,884 $165 Breakwater Bay 4375 N Major Dr 2004 176 9.1% 9/16/2022 $20,856,984 $118,505 $76 The Edge 5230 S Martin Luther King Pky 2006 96 8 3% 3/7/2022 $12,400,000 $129,166 $106 Lumberton on the Lake 187 S Lhs Dr 2005 102 0% 4/27/2022 $10,850,000 $106372 $77 Sweetqum Apartments 2655 Sweetgum Ln 1962 20 10.0% 12/14/2021 $1,060,000 $53.000 $53 Autumn Oaks 3190 Eastex Fwy 1982 152 8.6% 1/21/2022 - - iefferson House Apartments 2450 W Lucas Dr 1968 42 0% 3/25/2022 - Beaumont Heights 6550 Phelan Dr 1967 265 5.7% 10/22/2021 - - Hacienda Apartments 1145 Oregon Ave 1963 179 1.7% 1/17/2022 - - - Hacienda Aoartmerts 1145 Oregon Ave 1963 179 1.7% 8/31/2022 - - - Port Arthur Pads Apartments 1348 Jefferson Dr 1959 186 51.1% 10/6/2022 - - - jk Tropicana Apartments ir 5035 Monroe St 1965 86 4.7% 7/5/2022 - - - itRovai Neches 2345 Nall St 1963 73 5.5% 7/26/2022 - - - 2516 Smart St it 1980 8 100% 1/1/2022 - - - Parkway Terrace 1750 N Pine St 1983 12 0% 11/16/2021 - - - t. Seventy 50'I.as: 7050 Tx-105 1998 52 13.5% 3/25/2022 - - - Dana Townhomes it202 Dana St 1996 23 13.0% 4/22/2022 - - - it 893 Campus St 1968 10 10.0% 6/22/2022 - - - 2575 Primrose St g`'` 1962 12 8.3% 2/23/2022 - - - 2575 Primrose St 1962 12 8.3% 3/15/2022 - - - Beaumont still has a ways to go to recover the jobs lost amid the pandemic.As of the latest jobs report for July, the metro is still down about 9,000 jobs relative to February 2020.There is a heavy presence of energyrelated employers in this area,and Beaumont's recovery could lag the national average. Energy and mining-related companies, including both upstream and downstream firms, account for the largest cluster in Beaumont-Port Arthur,employing around 15%of the workforce. Major employers include Exxon Mobil in Beaumont(2,000 workers)and Motiva Enterprises and Valero in Port Arthur (1,500 and 850, respectively). The BEAUMONT EMPLOYMENT BY INDUSTRY IN THOUSANDS Motiva facility processes over 600,000 barrels of oil per day, making it the largest refinery in 11 North America. Texas has 29 official ports of entry that serve as key gateways to global trade. Each port plays a unique role in the state's transportation network and contributes to the state and local economies.A substantial element of the city and surrounding region's economy is the Port of Beaumont, one of the nation's largest ports when measured by tonnage. It is also home to one of the largest military seaports in the world.With neighboring Port Arthur and Orange, Beaumont forms the Golden Triangle, a major industrial hub on the Gulf Coast. CURRENT CURRENT GROWTH 10 YR HISTORICAL 5 YR FORECAST JOBS Industry Jobs LQ Market US Market US Market US Manufacturing 21 1.5 9.19% 3.57% - 0.72% 3.13% 0.15% 0.64% Trade,Transportation and Utilities 31 1.0 4.45% 3.45% 0.17% 1.26% 0.41% 0.12% Retail Trade 20 1.2 4.73% 2.48% - 0.66% 0.19% 0.08% 0.01 Financial Activities 6 0.6 1.72% 2.13% 0.28% 1.43% - 0.25% 0.36% Government 25 1.1 -0.96% 0.64% - 0.15% 0.21% 0.55% 0.31% Natural Resources:Mining and 18 2.1 14.30% 4.36% - 2.53% 3.77% 0.41% Construction 0.34% Education and Health Services 22 0.9 4.27% 3.35% - 1.66% - 0.69% 0.07% 0.19% Professional and Business Services 15 0.6 3.55% 4.91% 0.61% 2.19% 0.20% 0.49% Information 1 0.3 5.24% 5.75% - 1.27% 0.08% 0.41% 4.28% Leisure and Hospitality 16 1.0 4.12% 8.66% 0.90% 1.34% 0.52% 1.30% Other Services 6 1.0 8.69% 3.54% - 0.49% 0.99% 0.51% 0.71% Total Employment 160 1.0 5.09% 3.77% -0.06% 1.29% 1.05% 0.50% Source:Oxford Economics LQ=Location Quotient 4 I I I JOB GROWTH(YOY) 100/ Forecast 8% 6% i i -2% -4% -6% -8% i: -10% -12% -14%--1----. ' • y. ..'r---- —1---_ -- ; . .. '-4--. .i. .._._—:.....)._..i-- -_F..._.--- , -:-- 2016 2017 2018 2019 2020 2021 2322 2023 2024 2025 2026 A Beaumont ■ Unitec States NET EMPLOYMENT CHANGE(YOY) 1 0 K Forecast K , o ■fig'■ Air'. ALL -5 K -10K -15K -'- 1 .--_---_F 16 17 18 19 20 21 22 23 24 25 26 POPULATION GROWTH(YOY%) 0.8 i° Forecast 0.4% --I t _ 0.2% \ . -0 2°.'3-0.49.'f: V---\\NNs--/"---. -0.6% -08% -1.0?! -1.2c' 16 17 18 19 20 21 22 23 24 25 26 S Bea.n crt ■ United States DEMOGRAPHIC TRENDS Current Level 12 Month Change 10 Year Change 5 Year Forecast Demographic Category Metro US Metro US Metro US Metro US Population 407,763 332,655,406 0% 0.2% 0% 0.6% 0.1% 0.5% Households 142,543 124,172,773 0% 0.2% -0.6% 0.7% 0.1% 0.5% Median Household $65,642 $75,072 9.8% 8.9% 4.3% 4.0% 4.5% 3.2% Income Labor Force 164,421 164,658,375 -0.2% 1.9% -1.0% 0.6% 1.1% 0.5% Unemployment 6.8% 3.6% -2.0% -1.3% -0.4% -0.4% - - Source:Oxford Economics Submarkets BEAUMONT SUBMARKETS H,.,I i c case?:,. 4 • • Ravwwocd 1`� Dever, jot ..i riarkaner ( T' itt ,•r-.ie fcr r e C ti '10" Dcr.ble Ravru Submarkets SUBMARKETINVENTORY Inventory 12 Month Deliveries Under Construction No Submarket Bldgs Units %Market Rank Bldgs Units Percent Rank Bldgs Units Percent Rank 1 _ 58 2.056 11.5% 3 0 0 0°% - 0 0 - 2 Hardin County 18 1,082 6.0% 6 1 84 7.8% 3 0 0 0% - 3 Nederland/Port Neches 23 1,494 8.3% 5 2 167 11.2% 2 0 0 0% - 4 North/West Beaumont 88 7,912 44.1% 1 4 547 6.9% 1 0 0 0% - 5 Oranoe County 28 1,956 10.9% 4 0 0 0% - 0 0 0% - 6 Port Arthur/Groves 26 3,426 19.1% 2 0 0 0% - 0 0 0% - SUBMARKET RENT Asking Rents Effective Rents No. Market Per Per Rank Yr. Per Per Rank Yr. Concession Rank Unit SF Growth Unit SF Growth 1 Central;South $866 $1.05 4 7.1% $861 $1.04 4 7.0% 0.6% 6 Beaumont 2 Hardin County $835 $0.98 5 4.2% $829 $0.98 5 3.9% 0.7% 3 3 Nederland/Port $976 $1.13 3 3.7% $970 $1.12 3 3.4% 0.6% 5 Neches 4 North/West Beaumont $992 $1.15 2 1.4% $980 $1.14 2 0.7% 1.2% 1 5 Cranoe County $844 $0.92 6 1.2% $834 $0.91 6 0.6% 1.1% 2 6 Port.Arthur/Groves $991 $1.19 1 2.8% $984 $1.18 1 2.7% 0.6% 4 SUBMARKET VACANCY&ABSORPTION Vacancy 12 Month Absorption No. Submarket Units Percent Rank Units %ofInv Rank Construe.Ratio 1 Central/South Beaumont 199 9.7% 3 (38) -1.9% 4 - 2 Hardin County 82 7.5% 2 85 7.8% 3 1.0 3 Nederland/Port Neches 74 4.9% 1 145 9.7% 2 1.2 4 North/West Beaumont 967 12.2% 5 279 3.5% 1 1.3 5 Orance County 388 19.8% 6 (116) -5.9% 6 - 6 Pcrt Arthur/Groves 405 11.8% 4 (76) -2.2% 5 - OVERALL SUPPLY&DEMAND Inventory Absorption Year Units Growth %Growth Units %of Inv Construction Ratio 2026 18,202 151 0.8% 30 0.2% 5.0 2025 18,051 115 0.6% 10 0.1% 11.5 2024 17,936 14 0.1% 46 0.3% 0.3 2023 17,922 (4) 0% 146 0.8% 0 2022 17,926 623 3.6% 338 1.9% 1.8 YTD 17,926 623 3.6% 292 1.6% 2.1 2021 17,303 220 1.3% 276 1.6% 0.8 2020 17,083 286 1.7% 327 1.9% 0.9 2019 16,797 0 0% 135 0.8% 0 2018 16,797 0 0% 102 0.6% 0 2017 16,797 0 0% (619) -3.7% 0 2016 16,797 0 0% (70) -0.4% 0 2015 16.797 48 0.3% 83 0.5% 0.6 2014 16.749 8 0% 430 2.6% 0 2013 16,741 0 0% (263) -1.6% 0 2012 16,741 196 1.2% 122 0.7% 16 2011 16,545 204 1.2% 310 1.9% 0.7 2010 16,341 1,621 11.0% 1,381 8.5% 1.2 4&5 STAR SUPPLY&DEMAND Inventory Absorption Year Units Growth %Growth Units %of Inv Construction Ratio 2026 3,193 132 4.3% 79 2.5% 1.7 2025 3,061 102 3.4% 38 1.2% 2.7 2024 2,959 16 0.5% 11 0.4% 1.5 2023 2,943 0 0% 15 0.5% 0 2022 2,943 157 5.6% 111 3.8% 1.4 YTD 2,943 157 5.6% 114 3.9% 1.4 2021 2,786 0 0% 41 1.5% 0 2020 2,786 96 3.6% 88 3.2% 1.1 2019 2,690 0 0% 136 5.1% 0 2018 2,690 0 0% (78) -2.9% 0 2017 2,690 0 0% (58) -2.2% 0 2016 2,690 0 0% (60) -2.2% 0 2015 2,690 80 3.1% 65 2.4% 1.2 2014 2,610 0 0% 117 4.5% 0 2013 2,610 0 0% 19 0.7% 0 2012 2,610 0 0% 56 2.1% 0 2011 2,610 0 0% 161 6.2% 0 2010 2,610 1,426 120.4% 1,213 46.5% 1.2 3 STAR SUPPLY&DEMAND Inventory Absorption Year Units Growth %Growth Units %of Inv Construction Ratio 2026 8,104 23 0.3% (16) -0.2% - 2025 8,081 18 0.2% (9) -0.1% 2024 8,063 2 0% 23 0.3% 0.1 2023 8,061 0 0% 104 1.3% 0 2022 8,061 466 6.1% 326 4.0% 1.4 YTD 8,061 466 6.1% 271 3.4% 1.7 2021 7,595 220 3.0% 262 3.4% 0.8 2020 7,375 190 2.6% 41 0.6% 4.6 2019 7,185 0 0% (56) -0.8% 0 2018 7,185 0 0% 35 0.5% 0 2017 7,185 0 0% (99) -1.4% 0 2016 7,185 0 0% (38) -0.5% 0 2015 7,185 0 0% 47 0.7% 0 2014 7,185 0 0% 211 2.9% 0 2013 7,185 0 0% (212) -3.0% 0 2012 7.185 196 2.8% 117 1.6% 1.7 2011 6,989 204 3.0% 154 2.2% 1.3 2010 6,785 176 2.7% 112 1.7% 1.6 1 &2 STAR SUPPLY&DEMAND Inventory Absorption Year Units Growth %Growth Units %of Inv Construction Ratio 2026 6,905 (4) -0.1% (33) -0.5% 0.1 2025 6,909 (5) -0.1% (19) -0.3% 0 3 2024 6,914 (4) -0.1% 12 0.2% - 2023 6,918 (4) -0.1% 27 0.4% - 2022 6,922 0 0% (99) -1.4% 0 YTD 6,922 0 0% (93) -1.3% 0 2021 6,922 0 0% (27) -0.4% 0 2020 6,922 0 0% 198 2.9% 0 2019 6,922 0 0% 55 0.8% 0 2018 6,922 0 0% 145 2.1% 0 2017 6,922 0 0% (462) -6.7% 0 2016 6,922 0 0% 28 0.4% 0 2015 6,922 (32) -0.5% (29) -0.4% 1.1 2014 6,954 8 0.1% 102 1.5% 0.1 2013 6,946 0 0% (70) -1.0% 0 2012 6,946 0 0% (51) -0.7% 0 2011 6,946 0 0% (5) -0.1% 0 2010 6,946 19 0.3% 56 0.8% 0.3 OVERALL VACANCY&RENT Vacancy Market Rent Effective Rents Year Units Percent Ppts Chp Par Unit Per SF %Growth Ppts Chg Units Per SF 2026 2,101 11.5% 0.6 $1,042 $1.23 1.9% (0.5) $1,033 $1.21 2025 1,980 11.0% 0.5 $1,023 $1.20 2.4% 0.5 $1,014 $1.19 2024 1,883 10.5% (0.2) $1,000 $1.17 1.9% (1.2) $990 $1.16 2023 1,916 10.7% (0.8) $981 $1.15 3.0% 0.8 $972 $1.14 2022 2,067 11.5% 1.2 $952 $1.12 2.3% (2.1) $943 $1.11 YTD 2,114 11.8% 1.5 $951 $1.11 2.5% (1.9) $942 $1.10 2021 1,781 10.3% (0.5) $931 $1.09 4.4% 4.3 $925 $1.08 2020 1,837 10.8% (0.4) $892 $1.04 0.1% (2.9) $881 $1.03 2019 1.879 11.2% (0.8) $891 $1.04 2.9% 1.4 $884 $1.03 2018 2,016 12.0% (0.6) $866 $1.01 1.6% (2.7) $854 $0.99 2017 2,118 12.6% 3.7 $852 $0.99 4.3% 1.7 $844 $0.98 2016 1,497 8.9% 0.4 $818 $0.95 2.6% 0.3 $800 $0.93 2015 1,428 8.5% (0.2) $797 $0.93 2.3% 0.7 $780 $0.91 2014 1,464 8.7% (2.5) $780 $0.91 1.6% 0.1 $764 $0.89 2013 1,887 11.3% 1.6 $767 $0.89 1.5% 0.6 $753 $0.88 2012 1,626 9.7% 0.3 $756 $0.88 0.9% 0.4 $744 $0.87 2011 1,551 9.4% (0.8) $749 $0.87 0.5% 0.7 $744 $0.87 2010 1.657 10.1% 0.5 $745 $0.87 -0.2% - $737 $0.86 4&5 STAR VACANCY&RENT Vacancy Market Rent Effective Rents Year Units Percent Pets Chg Per Unit Per SF %Growth Ppts Chg Units Per SF 2026 304 9.5% 1.3 $1,254 $1.41 1.8% (0.7) $1,246 $1.40 2025 251 8.2% 1.9 $1,232 $1.38 2.5% 0.3 $1,224 $1.37 2024 187 6.3% 0.1 $1,202 $1.35 2.2% (1.2) $1,194 $1.34 2023 183 6.2% (0.5) $1,177 $1.32 3.4% 4.1 $1,169 $1.31 2022 198 6.7% 1.3 $1.138 $1.28 -0.7% (7.9) $1,130 $1.27 YTD 195 6.6% 1.2 $1,154 $1.29 -1.1% (8.3) $1,146 $1.28 2021 152 5.4% (1.5) $1,146 $1.28 7.2% 11.4 $1,144 $1.28 2020 193 6.9% 0 $1,069 $1.20 -4.3% (8.0) $1,055 $1.18 2019 186 6.9% (5.1) $1,117 $1.25 3.7% 6.6 $1,116 $1.25 2018 322 12.0% 2.9 $1,078 $1.21 -2.9% (9.0) $1,057 $1.19 2017 243 9.0% 2.1 $1.110 $1.24 6.0% 3.0 $1,098 $1.23 2016 185 6.9% 2.2 $1,047 $1.17 3.0% 2.9 $1,014 $1.14 2015 125 4.7% 0.5 $1,017 $1.14 0.1% (1.3) $978 $1.10 2014 110 4.2% (4.5) $1,015 $1.14 1.4% (1.6) $986 $1.10 2013 226 8.7% (0.7) $1,002 $1.12 2.9% 3.2 $982 $1.10 2012 246 9.4% (2.1) $973 $1.09 -0.2% (1.0) $951 $1.07 2011 301 11.5% (6.2) $975 $1.09 0.7% 2.0 $966 $1.08 2010 463 17.7% (3.4) $968 $1.09 -1.3% - $945 $1.06 3 STAR VACANCY&RENT Vacancy Market Rent Effective Rents Year Units Percent Ppts Chg Per Unit Per SF %Growth Ppts Chg Units Per SF 2026 1,069 13.2% 0.4 $1,059 $1.24 1.8% (0.5) $1.045 $1.23 2025 1,031 12.8% 0.2 $1,040 $1.22 2.3% 0.6 $1,026 $1.20 2024 1,012 12.5% (0.3) $1,016 $1.19 1.8% (1.2) $1,003 $1.18 2023 1,033 12.8% (1.3) $998 $1.17 2.9% 0 $986 $1.16 2022 1,138 14.1% 1.0 $970 $1.14 2.9% (1.2) $958 $1.12 YTD 1,193 14.8% 1.7 $966 $1.13 3.7% (0.5) $954 $1.12 2021 998 13.1% (1.0) $943 $1.11 4.1% 3.8 $935 $1.10 2020 1,040 14.1% 1.7 $905 $1.06 0.3% (2.6) $891 $1.05 2019 891 12.4% 0.8 $902 $1.06 3.0% 0.3 $892 $1.05 2018 836 11.6% (0.5) $876 $1.03 2.7% (0.8) $866 $1.02 2017 871 12.1% 1.4 $854 $1 3.5% 1.8 $845 $0.99 2016 772 10.7% 0.5 $825 $0.97 1.7% (0.8) $808 $0.95 2015 734 10.2% (0.7) $811 $0.95 2.5% 0.6 $797 $0.94 2014 781 10.9% (2.9) $791 $0.93 1.9% 0.8 $776 $0.91 2013 993 13.8% 2.9 $777 $0.91 1.1% 0 $758 $0.89 2012 781 10.9% 0.8 $768 $0.90 1.1% 0.9 $756 $0.89 2011 702 10.0% 0.4 $760 $0.89 0.2% 0.1 $754 $0.88 2010 652 9.6% 0.7 $758 $0.89 0.1% - $753 $0.88 1 &2 STAR VACANCY&RENT Vacancy Market Rent Effective Rents Year Units Percent Ppts Chg Par Unit Per SF %Growth Ppts Chg Units Per SF 2026 727 10.5% 0.4 $916 $1.10 1.9% (0.5) $910 $1.10 2025 698 10.1% 0.2 $898 $1.08 2.4% 0.6 $893 $1.08 2024 684 9.9% (0.2) $877 $1.06 1.8% (1.2) $872 $1.05 2023 700 10.1% (0.4) $862 $1.04 3.0% (0.3) $856 $1.03 2022 731 10.6% 1.4 $837 $1.01 3.3% 0.4 $831 $1 YTD 726 10.5% 1.4 $831 $0.98 3.1% 0.2 $825 $0.97 2021 632 9.1% 0.4 $810 $0.95 2.9% 0 $801 $0.94 2020 604 8.7% (2.9) $787 $0.92 2.9% 0.5 $783 $0.92 2019 802 11.6% (0.8) $765 $0.90 2.4% (1.0) $758 $0.89 2018 858 12.4% (2.1) $747 $0.87 3.4% (0.7) $737 $0.86 2017 1,003 14.5% 6.7 $722 $0.85 4.1% 0.5 $715 $0.84 2016 540 7.8% (0.4) $694 $0.81 3.6% 0 $683 $0.80 2015 569 8.2% 0 $670 $0.78 3.6% 2.3 $660 $0.77 2014 573 8.2% (1.4) $647 $0.76 1.3% 0.2 $638 $0.75 2013 669 9.6% 1.0 $638 $0.75 1.0% (0.4) $633 $0.74 2012 599 8.6% 0.7 $632 $0.74 1.4% 0.5 $625 $0.73 2011 548 7.9% • 0.1 $623 $0.73 0.9% 0.8 $619 $0.73 2010 543 7.8% (0.6) $617 $0.72 0.1% - $613 $0.72 OVERALL SALES Completed Transactions(1) Market Pricing Trends(2) Year Deals Volume Turnover Avg Price Avg Price/Unit Avg Cap Rate Price/Unit Price Index Cap Rate 2026 - - - - - - $105,714 271 6.3% 2025 - - - - - - $103,648 266 6.3% 2024 - - - - - - $101,164 260 6.3% 2023 - - - - - - $99,125 254 6.3% 2022 - - - - - - $98,461 253 6.2% YTD 18 $82.9M 9.2% $20,736,622 $133,785 8.4% $98,622 253 6.1% 2021 26 $7.2M 13.3% $1,810,000 $42,840 7.3% $94,755 243 6.2% 2020 22 $138.3M 10.4% $27,660,597 $115,252 11.8% $88,491 227 6.2% 2019 23 $4.5M 7.4% $2,225,000 $41,204 10.0% $75,651 194 6.7% 2018 16 $33.6M 8.7% $4,806,524 $53,576 8.1% $70,021 180 7.0% 2017 13 $40.9M 5.4% $10,217,500 $71,954 7.0% $68,463 176 7.0% 2016 16 $47.7M 9.8% $7,957,167 $76,511 7.1% $66,171 170 7.1 2015 18 $48.8M 8.9% $24,375,000 $94,112 7.5% $64,624 166 7.1% 2014 15 $26.7M 12.5% $26,650,000 $71,640 7.3% $60,500 155 7.2% 2013 6 $650K 1.3% $325,000 $40,625 9.2% $55,303 142 7.6% 2012 13 $11.9M 7.9% $3,974,583 $38,588 9.3% $54,916 141 7.5% 2011 8 $49.6M 4.5% $9,912,071 $68,548 8.2% $52,623 135 7.5% 1. Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. 2. Market price trends data is based on the estimated price movement of all properties in the market.informed by actual transactions that have occurred. 4&5 STAR SALES Completed Transactions(1) Market Pricing Trends(2) Year Deals Volume Turnover Avg Price Avg Price/Unit Avg Cap Rate Price/Unit Price Index Cap Rate 2026 - - - - - - $141,502 261 5.9% 2025 - - - - - - $138,876 257 5.9% 2024 - - - - - - $135,490 250 5.9% 2023 - - - - - - $132,429 245 6.0% 2022 - - - - - - $131,269 242 5.9% YTD 1 $38.8M 8.4% 838.839 504 $157,884 - $132,669 245 5.8% 2021 1 $0 13.4% - - - $130,481 241 5.7% 2020 2 $88M 23.8% $44,000,000 $132.530 6.3% $121,737 225 5.8% 2019 - - - - - - $99,242 183 6.4% 2018 2 $0 18.7% - - - $92,732 171 6.6% 2017 1 $14.2M 7.1% $14,200,000 $73,958 - $93,053 172 6.6% 2016 2 $36.5M 24.1% $36,450,000 $101,250 6.0% $91,668 169 6.5% 2015 2 $48.8M 19.3% $24,375,000 $94,112 6.5% $90,691 168 6.5% 2014 3 $26.7M 25.3% $26,650,000 $71,640 6.6% $85,398 158 6.6% 2013 1 $0 4.9% - - - $78.278 145 6.9% 2012 - - - - - - $77,764 144 6.8% 2011 2 $40.6M 17.8% $20,321,429 $87,592 7.0% $74,801 138 6.9% 1. Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to set in the period. 2. Market price trends data is based on the estimated price movement of all properties in the market,informed by actual transactions that have occurred. 3 STAR SALES Completed Transactions(1) Market Pricing Trends(2) Year Deals Volume Turnover Avg Price Avg Price/Unit Avg Cap Rate Price/Unit Price Index Cap Rate 2026 - - - - - - $108,233 266 6.3% 2025 - - - - - - $106,112 260 6,3% 2024 - - - - - - $103,601 254 6.3% 2023 - - - - - - $101,600 249 6.3% 2022 - - - - - - $100,975 248 6.2% YTD 13 $44.1M 16.4% $14,702,328 $117,933 8.4% $100,958 248 6.1% 2021 10 $5.1M 14.5% $5,100,000 $42,500 6.0% $97,235 239 6.1% 2020 4 $50.3M 8.6% $16,767,662 $93,849 - $90,773 223 6.2% 2019 5 $2.2M 7.3% $2,150,000 $53,750 9.8% $78,695 193 6.7% 2018 6 $13.4M 6.9% $6.692,691 $70,822 5.5% $72,933 179 7.0% 2017 3 $26.3M 6.0% $13,125,000 $72,917 7.0% $70,766 174 7.0% 2016 7 $3.2M 8.3% $1,073,333 $31,262 7.6% $68,032 167 7.1% 2015 5 $0 7.8% - - 8.0% $66,809 164 7.0% 2014 4 $0 6.9% - - 8.0% $62,743 154 7.2% 2013 - - - - - - $57,572 141 7.5% 2012 5 $10.7M 12.2% $10.700,000 $46.121 7.5% $57,154 140 7.4% 2011 - - - - - - $54,729 134 7.5% 1. Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. 2. Market price trends data is based on the estimated price movement of all properties in the market,informed by actual transactions that have occurred. 1 &2 STAR SALES Completed Transactions(1) Market Pricing Trends(2) Year Deals Volume Turnover Avg Price Avg Price/Unit Avg Cap Rate Price/Unit Price Index Cap Rate 202 - - - - - - $87,547 288 6.4% 6 202 - - - - - - $85,782 282 6.4% 5 202 - - - - - - $83,714 275 6.4% 4 202 - - - - - - $82,064 270 6.4% 3 202 - - - - - - $81,566 268 6.3% 2 YTD 4 $0 1.1% - - - $81,409 267 6.3% 202 15 $2.1M 11.9% $713,333 $43,673 7.6% $76,659 252 6.4% 1 202 16 $0 6.8% - - 13.7% $71,683 235 6.4% 0 201 18 $2.3M 10.3% $2,300,000 $33,824 10.3% $62,063 204 6.9% 9 201 8 $20.3M 6.8% $4,052,057 $46,151 8.7% $56,961 187 7.2% 8 201 9 $420K 4.2% $420,000 $26,250 - $55,313 182 7.2% 7 201 7 $8.1M 5.7% $4,036,500 $50,143 7.0% $53,150 175 7.3% 6 201 11 $0 6.0% - - 8.0% $50,982 167 7.3% 5 201 8 $0 13.6% - - - $47,290 155 7.5% 4 201 5 $650K 1.2% $325,000 $40,625 9.2% $42,881 141 7.9% 3 201 8 $1.2M 6.5% $611,875 $15,893 11.0% $42,583 140 7.8% 2 201 6 $8.9M 4.1% $2,972,500 $34,431 8.9% $40,730 134 7.9% 1 1. Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. 2. Market price trends data is based on the estimated price movement of all properties in the market,informed by actual transactions that have occurred. DELIVERIES&UNDER CONSTRUCTION Inventory Deliveries Net Deliveries Under Construction Year Bldgs Units Vacancy Bldgs Units Bldgs Units Bldgs Units 2026 - 18,204 11.5% - 161 - 151 - - 2025 - 18,053 11.0% - 116 - 115 - - 2024 - 17,938 10.5% - 15 - 15 - - 2023 - 17,923 10.7% - 0 - (3) - - 2022 - 17,926 11.5% - 623 - 623 - - YTD 241 17,926 11.8% 5 623 5 623 0 0 2021 236 17,303 10.3% 2 220 2 220 5 623 2020 234 17,083 10.8% 2 286 2 286 5 602 2019 232 16,797 11.2% 0 0 0 0 3 296 2018 232 16,797 12.0% 0 0 0 0 3 296 2017 232 16,797 12.6% 0 0 0 0 0 0 2016 232 16,797 8.9% 0 0 0 0 0 0 2015 232 16,797 8.5% 1 80 0 48 0 0 2014 232 16,749 8.7% 1 8 1 8 1 80 2013 231 16,741 11.3% 0 0 0 0 1 8 2012 231 16,741 9.7% 1 196 1 196 0 0 2011 230 16,545 9.4% 2 204 2 204 1 196 2010 228 16,341 10.1% 8 1,621 8 1,621 2 204 ••-rand Financing DEVELOPER'S LAND ACQUISITION & PROJECT FUNDING Developer proposes to acquire the Land for the fair market value of $916,000.00. Developer plans to fund its acquisition of the Land, as well as infrastructure costs and other critical development costs, through a combination of developer cash, private financing, tax increment financing, development incentives, and public grants, subject to negotiation with the City of Port Arthur and the Port Arthur Economic Development Corporation. 4 irences 1 Mt.,) It comes with great pleasure to have the opportunity of writing this recommendation. I have been practicing insurance for over 10 years and throughout my career you form close relationships with clients who are professional and easy to work with. Selim Kiralp happens to be one of those clients.He conducts business at a very high standard of ethics and integrity. His ability to understand insurance losses and how it affects the macro and micro makes it incredibly easy to do business with him. Selim runs multiple businesses that I have insured in the past and I can confidently say he has a keen ability to mitigate and manage risk. I truly believe that he will continue to succeed in his future business endeavors and have no doubt that anyone who knows him feels the same way. Best Regards, Edward Vazquez Owner of Main Mutual Insurance rences 2 RE/MAX Hello My name is BIlal.Asma and I am the#1 Commercial real Estate agent for REIMA.X.in Texas I have known and have been representing Swim Kiralp in all of his Real Estate transactions for the last 6 yeas and they have all been profitable He is a man of honesty and Integrity and always stands by his ward and promises. He is one of the most professional and organized clients i have had to date Whatever he envisions he works had at to make it a reality.He is a very charismatic person and loves socializing with people.He is very likable due to his friendly sincerity He is a treasure of knowledge when it comes to Real Estate Investing. and even if you are a professional in your field you can always learn something from him I have had the honor of staying at one of his Hotels in Istanbul.Turkey and got to see all of his previous projects in Turkey Based on what I have seen I can tell you everything Selim Kiralp touches turns to Sincerely Bilal W Asmar RE/MA.XTown 8 Country 301 s Waters Pd SAjite 100 Allen Tx.75013 TAB F-rences 3 Letter of Recommendation • f KEYSTONE NMLS#139356 Mike Johnson Branch Manager#139356 2530 Eldorado Pkwy,suite 120 Cell: 469-337-5728 Fax: 877-257-1216 Email: mike@mykeystoneloan.com Branch Manag#139356 2530 Eldorado Pkwy,Suite 120 McKinney,TX 75070 Cell: 469-337-5728 Fax : 877-257-1216 mike-et mvkevstoneloan,com It is my great pleasure to personally recommend Mr. Kiralp at Selim Kiralp LLC. I did not know it at the time but meeting Mr. Kiralp, in late 2016 was a career changing stroke of luck. Since then I have had the wonderful opportunity to work closely with him on numerous occasions. Through many financial transactions I have come to know Mr. Kiralp and his network very well. Financial transactions both commercial and residential can be complex and challenging. Mr, Kiralp has consistently overcome obstacles and challenges with integrity and a tenacity to succeed. Mr.Kiralps strife to ensure excellence with all parties'best interests in mind has been astonishing. I have witnessed his leadership, integrity, and compassion,time and time again. I cannot fully express how thankful I am to have had the opportunity to work with Mr. Kiralp and his alliance of partners. My recommendation of Mr.Kiralp to any consideration is not just for his personal gain or opportunity,but also that one may understand the valuable relationship and or opportunity before them with Selim Kiralp LLC. Sincerely, /14/4e Jok# ci WAL L I S BAN 1 ( 0 7,3.580.9900 I F 713 897 8479 Personalized service since 1906 2929 W Sam Houston Pkwy N,Ste 300 Houston,TX 77043 wollisbank.com Date: 10/26/2002 To whom it may concern, I am Burak Berilgen, Senior Vice President of Wallis Bank and affirm and certify that Mr. Kiralp at Selim Kiralp LLC, has been engaged in banking activities and transactions with our bank since 2019. Over this period, Mr. Kiralp has been one of our valued and highly regarded clients. As an accomplished developer, Mr. Kiralp is of considerable net worth and an established businessman where the Bank is supportive of his projects in general. Yours faithfully, 7 Burak Berilgen Senior Vice President ifilidigerences INDEPENDENT 10'21 2022 RE: Real Estate purchase pre-qualification for Mr. Selim Kiralp To whom it may concern: Mr. Selim Kiralp is a deposit and loan customer at Independent Financial where we maintain his business and personal accounts.All accounts are in good standing. Recently Mr. Selim Kiralp told us his plans and intentions of investing in Real Estate properties in Port Arthur, Texas. Knowing his financial and operational capabilities and abilities respectively,we have indicated to Mr. Selim Kiralp that we would consider financing these investments. However, this is not a commitment for a loan and the final approval will be subject to completion of required financial and legal due diligence to Independent Financial satisfaction, inspection and appraisal of the property and compliance with the underwriting requirements of Independent Financial. This letter is not a commitment or approval for a loan. Please call me at 713-600-8982 or email me at toe.berilgen(aU.ifinaneial.comif you have any questions. Thank you. Joe Berilgen Senior Vice President - S.,te .c..,storr. Texas7 3.6 38932 • TABendices A APPENDIX A INVITATION TO BID CITY OF PORT ARTHUR.TEXAS BID SHEET BID FOR: PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND BID DUE DATE:OCTOBER 26,2022 DESCRIPTION TOTAL PURCHASE PRICE PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND S 7 h I(, . 000 .00 c .. 14r- iA i L 1200 COMPAN N E I STREET ADDRESS / 940E(c3 ,SIGNATURE OF BIDDER P.0:BOX Set i. K:t'a p P/04 -Tx 41.1. PRINT OR TYPE NAME I CITY STATE ZIP 4,40,\Cd 69 g4-0 5( 4 TITLE AREA CODE TELEPHONE NO se ?I'MLita/ k 61a cO . EMAIL I V FAX NO. 111 Page 24 of 31 I end ices APPENDIX B LETTER OF INTEREST RFP—Purchase&Development of 35.24 Acres of Land on Pleasure Island Deadline:October 26,2022 The undersigned firm submits the following information (this RFP submittal) in response to the Request for Proposals(as amended by any Addenda), issued by the City of Port Arthur.TX(City) for PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND Enclosed.and by this reference incorporated herein and made a part of this RFP,are the following: Bid Sheet Completed RFP Letter of Interest Form Completed Affidavit Completed Conflict of Interest Form Non Collusion Affidavit •:• SB 252 * House Bill 89 Firm understands that the City is not bound to select any firm for the final pre-qualified list and may reject any responses submitted. Firm also understands that all costs and expenses incurred by it in preparing this RFP and participating in this process will be borne solely by the firm.and that the required materials to be submitted will become the property of the City and will not be returned. Firm agrees that the City will not be responsible for any errors, omissions. inaccuracies. or incomplete statements in this RFP. Firm accepts all terms of the RFP submittal process by signing. this letter of interest and making the RFP submittal. This RFP shall be governed by and construed in all respects according to the laws of the State of Texas. Stht• IP L- (0/Z /2022- Firm Nam l Date /)/14:ZAQ a P I Mstfirized Signature Title .SPlj�. L? . kl 1 k 0. -- -0 c i Name(please print) J Telephone rtt (P S's '�,l�t1'011p. C-C)✓%"- Email Page 25 of 31 TARG— cgsC APPENDIX C AFFIDAVIT All pages in Offeror's Responses containing statements, letters, etc.. shall be signed by a duly authorized officer of the company whose signature is binding. The undersigned offers and agrees to one of the following: VV I hereby certify that I do not have outstanding debts with the City of Port Arthur. I further agree to pay succeeding debts as they become due. I hereby certify that I do have outstanding debts with the City of Port Arthur and agree to pay said debts prior to execution of this agreement. 1 further agree to pay succeeding debts as they become due. I hereby certify that I do have outstanding debts with the City of Port Arthur and agree to enter into an agreement for the payment of said debts. I further agree to pay succeeding debts as they become due. SPA k�r�1p LLB- IC /2 6 /2-oz _ Firm Nam % Date /, — (1/1avtQ p i j ized`Srignature Title J S g• 4rct 'n 4 e43-- 0 C! 4- Name(please print) Telephone .S V-1!„� o r�I (p I ���irt k;`ra l p • co Email I v I STATE: '1LY > COUNTY: ( we coo SUBSCRIBED AND �SWORN to before me by the above named( I'Yl K l rI !� `�otilititolp9 this the P� day of ©Ul)ber .20 ./� vo 0)c. �(pRY PU�% .Yc, y�L6C " t _ ry�itblic co: *� '�'O: '9Y D 130 0o0;io;; RETURN THIS AFFIDAVIT AS PART OF THE BID PROPOSAL Page 26 of 31 TAS C endices D CONFLICT OF INTEREST QUESTIONNAIRE FORM CIO For vendor doing business with local governmental entity This questionnaire reflects changes made to the law by H.B. 23,84th Leg.,Regular Session. OFFICE USE ONLY This oisstioraire is being Sled th accordmce with Chapter 175 Local Government Code,by a vendor who oya pw.p-,x has a!ritziness relationship as defined try Section 176 001��l-a)with a local govsrrsnental entity and the vendor meats regtiremerrt under Section 175.006(al. By law this cuesbomare must be Ned wth the records adrrinistratcr of the lx_al goverrmanial entity not later than the 7th business day after the data the vendor becomes aware of facts that regire the statement co be Ssd See Secion 176.006(3-1).Led Gnvern'ert Code • A vendor commits an offense if the vendor krowinsfy',:fates Secton i76 006,Local Government Code An offense under hie secton is a misdemeanor. ?J Name of vendor who has a business relationship with local governmental entity. 1\;O4e_. � n Check this box if you are filing an update to a previou�y filed guesti crtna9r he an requires that you fib an updated completed questionnaire will the aCprcp•:ate I .ng atthcr l'i-c..z._. ..._...s 7'h t;Is'-.ess day alter the date en which you became aware that the orgiraiy red q:es!_rr>_'s vies _._ ra:oJ-ate) J Narne of local government officer about whom the inicrmniion is being disclosed. J Describe each employment or other business relationship with the local government officer,or a family member of the officer,as described by Section 176.000(a;(2;(A). Also describe any family relationship with the local goverrvnent officer. Complete subparts A and B for each employment or business relationship described. Attach additional pages to this Form d4 as necessary. r`\)otn A Is the local government officer or a family member of the officer recening or likely to receive taxable irxrre, other than investment income,from the vendor? i LJ Yes �No B Is the vendor receiving or likely to receive taxable income,other than Investment inxme,from or at the direction of the local government officer or a family member of the officer AND the taxable income a not rece ved from the local governmental entity? / n Yes Nc - Describe each employment or business relationship that the vendor named in Section 1 maintains with a corporation or other business entity with respect to which the local government officer serves as an officer or director.or holds an ownership interest of one percent or more. jJ4v� J 7' Check this box• the r has given the local government cf5cer cr a family member of the officer one or more g is f as described-1 S 176003(a)12)i8? excluding gifts de crbed in Section 1760C3{a•1) j J I0/ZGI r/iC22 cot veneer ding bt.•si.'1ec1'M'h lie ge,ammentat ens;? • Data Form provided by Texas Efics Commission www et`Ics s'ata rt us Revised 11.34:120t5 filialmaimendices NON-COLLUSION AFFIDAVIT CITY OF PORT ARTHUR § STATE OF TEXAS § By the signature below, the signatory for the bidder certifies that neither he nor the firm, corporation, partnership or institution represented by the signatory or anyone acting for the firm bidding this project has violated the antitrust laws of this State, codified at Section 15.01, et seq.. Texas Business and Commerce Code, or the Federal antitrust laws; nor communicated directly or indirectly the bid made to any competitor or any other person engaged in the same line of business, nor has the signatory or anyone acting for the firm, corporation or institution submitting a bid committed any other act of collusion related to the development and submission of t is bi proposal. Signature: Printed Name: p��,r. , iCd _. . „ Title: President Company: Selim Kiraip, LLC Date: 0/26 2022 SUBSCRIBED and sworn to before me the undersigned authority by'-Ce/linli 1V--of4Ahe p r'2Si c!er t- of, 9(trn 14'rairt14r) behalf of said bidder. `,{{{{11lllfff C� �� t.1DA.gy�� any ublic c��9 in and for the 40 , _ State of Texas r "C ; * = ►* ? s �\ Pmr ti My commission expires: .,,/oMM;E P{oa 0*".� �endices SI3 252 CHAPTER 2252 CERTIFICATION I. r+ti +r���� the undersigned an representative of Selim Kiralp. LLC (Company or Business Name) being an adult over the age of eighteen (18)years of age,pursuant to Texas Government Code, Chapter 2252,Section 2252.152 and Section 2252.153,certify that the company named above is not listed on the website of the Comptroller of the State of Texas concerning the listing of companies that are identified under Section 806.051, Section 807,051 or Section 2253.153. I further certify that should the above-named company enter into a contract that is on said listing of companies on the website of the Comptroller of the State of Texas which do business with Iran, Sudan or any Foreign Terrorist Organization, I will immediately notify the City of Port Arthur Purchasing Department. Selim Kiralp, LLC Se-te^- p Name of Corn ny presentative (Print) Signature of Company Representative Date 0/2-(9/ 22-- tiamilitendices House Bill 89 Verification I. S�^" �. �sI•O p (Person name); the undersigned representative (hereafter referred to as "Representative") of Selim Kiralp,LLC /company or business name, hereafter referred tG as "Business Entity"), being an adult over the age of eighteen (18) years of age, after being duly sworn by the undersigned notary, do hereby depose and affirm the following: 1. That Representative is authorized to execute this verification on behalf of Business Entity; 2. That Business Entity does not boycott Israel and will not boycott Israel during the term of any contract that will be entered into between Business Entity and the City of Port Arthur; and 3. That Representative understands that the term "boycott Israel" is defined by Texas Government Code Section 2270.001 to mean refusing to deal with, terminating business activities with, or otherwise taking any action that is intended to penalize, inflict economic harm on, or limit commercial relations specifically with Israel, or with a person or entity doing business in Israel or in an Israeli-controlled territoyy, but does not include an action made for ordinary business purposes. ? �/ SIGNATURE OF REPRESENTATIVE SUBSCRIBED AND SWORN TO BEFORE ME, the undersigned authority, on this __day of 0 CA-uvki( , 20 g-l• . ‘y, N DAj9ijui �� �p�PaY.puelc.... Notary Public ' 9TFof�� .3oa°..:�. P.R. No. 22961 12/29/22 gd Exhibit "C" Request for Proposals CITY OF PORT ARTHUR,TEXAS INVITATION TO BID NOTICE IS HEREBY GIVEN THAT sealed Bids, addressed to the City of Port Arthur,will be received at the Office of the City Secretary,City Hall 444 4th Street or P.O.Box 1089,Port Arthur, Texas 77641 no later than 3:00 P. M., Wednesday, October 26, 2022. Applicant names will be - read aloud beginning at 3:15 P.M.,Wednesday,October 26,2022 on this date in the City Council Chambers, City Hall, 5°1 Floor for certain services briefly described as: PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND Bids received after the deadline stated above, regardless of method of delivery, will not be considered and returned unopened. Copies of the Specifications and other Contract Documents are on file in the Purchasing Office, 444 4th Street, City of Port Arthur, and are open for public inspection without charge. They can also be retrieved from the City's website at www.vortarthutx...ov or www.nublicDurchase.com The City of Port Arthur reserves the right to reject any and all bids and to waive informalities. Per Chapter 2 Article VI Sec. 2-262(C) of the City's Code of Ordinance, the City Council shall not award a contract to a company that is in arrears in its obligations to the City. 4.44/16: I/J Clif'on Williams, CPPB Purchasing Manager FIRST PUBLICATION: September 17, 2022 SECOND PUBLICATION: September 24, 2022 CITY OF PORT ARTHUR Request for Bid Purchase and Development of 35.24 Acres of Land Located on Pleasure island September 17, 2022 September 24,2022 CITY OF PORT ARTHUR,TEXAS INVITATION TO BID NOTICE IS HEREBY GIVEN THAT sealed Bids,addressed to the City of PortArthur,will be received at the Office of the City Secretary, City Hat(444 4th Street or P.O. Box 1089, Port Arthur, Texas 177641 no later than 3:00 P.M.,Wednesday,October 26,2022.Applicant names will be read aloud beginning at 3:15 P.M.,Wednesday,October 26,2022 on this date in the City Council Chambers, City Hall,5th Floor for certain services briefly described as: PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND • Bids received after the deadline stated above,regardless of method of delivery,will not be considered and returned unopened. Copies of the Specifications and other Contract Documents are on file in the Purchasing Office,444 4th Street,City of Port Arthur,and are open for public Inspection without charge.They can also be retrieved from the Citys website at wvww,00rtarthutx.gov or syww.oubticaurchase,corrt The City of Port Arthur reserves the right to reject any and all bids and to waive informalities, Per Chapter 2 Article VI Sec.2-262(C)of the City's Code of Ordinance, the City Council shall not award a contract to a company that is in arrears in its obligations to the City. jlifton Williams • Clifton Williams,CPPB Purchasing Manager • CITY OF PORT ARTHUR,TEXAS INVITATION TO BiD NOTICE iS HEREBY GIVEN THAT sealed Bids,addressed to the City of Port Arthur,will be received at the Office of the City Se etary. City Hat 444 4th Street or P.O. Box 1039, Port Arthur,Texas 77641 no later than 3:00 P.M.,Wednesday,October 26,2022,Applicant names will be read aloud beginning at 3:15 P.M.,Wednesday.October 26,2022 on this date In the City Council Chambers, City Hall,5th Floor for certain services briefly described as: PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND Bids received after the deadline stated above,regardless of method of delivery,will not be considered and returned unopened. Copies of the Specifcadons and other Contract Documents are on file in the Purchasing Office,444 4th Street,City of Port Arthur.and are open for public inspection without charge.They can also be retrieved from the City's website at ynw.00rtarthutx,aov or vrvrv.oyblicourt tase.00m • The City of Port Arthur reserves the right to reject any and all bids and to waive Informalities. • Per Chapter 2 Article VI Sec.2-262(C)of the City's Code of Ordinance,the City Council shall not award a contract to a company that is in arrears in its obligations to the City. • 1slClifton Williams Clifton Williams,CPPB Purchasing Manager THURMAN BILL BARTIE,MAYOR RONALD BURTON INGRID HOLMES.,MAYOR PRO TEM City u f CITY MANAGER COUNCIL MEMBERS: SHERRI BELLARD,TRMC DONALD FRANK,SR. CITY SECRETARY CAL JONES art r t h t(I. THOMAS KINLAW HI VAL TIZENO KENNETH MARKS CITY ATTORNEY CHARLOTTE MOSES September 16, 2022 REQUEST FOR PROPOSAL PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND DEADLINE: Sealed proposal submittals must be received and time stamped by 3:00 p.m.,Central Standard Time,Wednesday, October 26, 2022. (The clock located in the City Secretary's office will be the official time.) All proposals received will be read aloud at 3:15 p.m. on October 26, 2022 in the City Council Chambers, City Hall, 5th Floor, Port Arthur, TX. Proposals will be opened in a manner to avoid public disclosure of contents; however, only the names of proposers will be read aloud. MARK ENVELOPE: P22-090 DELIVERY ADDRESS: Please submit one (1) original and three (3) exact duplicate copies of your RFP& USB to: CITY OF PORT ARTHUR CITY OF PORT ARTHUR CITY SECRETARY or CITY SECRETARY P.O. BOX 1089 444 4TH STREET, 4th Floor PORT ARTHUR, TEXAS 77641 PORT ARTHUR, TEXAS 77640 POINTS OF CONTACT: Questions concerning the Request for Proposal should be directed in writing to: City of Port Arthur, TX Clifton Williams, Purchasing Manager P.O. Box 1089 Port Arthur, TX 77641 clifton.williams@portarthurtx.gov Purchasing Division/Finance Department I Purchasing Manager.Clifton Williams,CPPB P.O.Box 1089 I 444 4th Street I Port Arthur,Texas 77641 1409.983.8160 I Fax 409.983.8291 The enclosed REQUEST FOR PROPOSAL(RFP) and accompanying General Instructions are for your convenience in submitting proposals for the enclosed referenced services for the City of Port Arthur. Proposals must be signed by a person having authority to bind the firm in a contract. Proposals shall be placed in a sealed envelope, with the Vendor's name and address in the upper left-hand corner of the envelope. ALL PROPOSALS MUST BE RECEIVED IN THE CITY SECRETARY'S OFFICE BEFORE OPENING DATE AND TIME. It is the sole responsibility of the firm to ensure that the sealed RFP submittal arrives at the above location by specified deadline regardless of delivery method chosen by the firm. Faxed or electronically transmitted RFP submittals will not be accepted. kn Clifton Williams, CPPB Purchasing Manager Page 2 of 31 REQUESTS FOR PROPOSALS PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND (To be Completed ONLY IF YOU DO NOT BID.) FAILURE TO RESPOND TO BID SOLICITATIONS FOR TWO (2) BID PERIODS MAY RESULT IN REMOVAL FROM THE VENDOR'S LIST. However, if you are removed you will be reinstated upon request. In the event you desire not to submit a bid, we would appreciate your response regarding the reason(s). Your assistance in completing and returning this form in an envelope marked with the enclosed bid would be appreciated. NO BID is submitted: this time only not this commodity/service only Yes No Does your company provide this product or services? Were the specifications clear? Were the specifications too restrictive? Does the City pay its bills on time? Do you desire to remain on the bid list for this product or service? Does your present work load permit additional work? Comments/Other Suggestions: Company Name: Person Completing Form: Telephone: Mailing Address: Email: City, State, Zip Code: Date: Page 3 of 31 EQUEST FOR PROPOSAL Purchase and Development of 35.24 Acres of Land Located on Pleasure Island PROPOSAL EVALUATION RFP shall be awarded to the best-quoted proposal. The proposals will be evaluated on the factors outlined below which shall be applied to all eligible,responsive proposals in selecting the successful Offer. Award of a contract may be made without discussion with proposers after responses are received. Proposals should, therefore, be submitted on the most favorable terms. Sealed Proposal Submission Proposals shall be sealed and clearly marked with the Proposer's name and return address, and indicate the proposal number and title. Facsimile or e-mail submitted proposals will not be accepted. Responses received after the deadline cannot be considered and will be returned unopened. The City is not responsible for delays occasioned by the U.S. Postal Service, the internal mail delivery system of the City, or any other delivery method employed by the Proposer. Proposers or their authorized representatives are expected to fully inform themselves as to the general terms and conditions, requirements and development criteria of this RFP before submitting proposals. Failure to do so will be at the proposer's own risk. CRITERIA FOR EVALUATION IN ORDER OF IMPORTANCE: 1. Overall Development Concept 50% 2. Experience with Floodplain Reclamation 20% 3. Financials for Site 20% 4. Developer Qualifications 10% Negotiations may be conducted with responsible proposers who submit proposals determined to be susceptible of being selected for award. All Proposers will be accorded fair and equal treatment with respect to any opportunity for negotiation and revision of proposals. Revisions to proposals may be permitted after submission and before award for the purpose of obtaining best and final offers. After negotiations the City will present a contract reflecting the agreements reached between the City and the selected proposer during the negotiation process subsequent to the RFP award, to Port Arthur City Council for approval. Approval by the Port Arthur City Council and signature by authorized representatives will result in the final and binding contract between the City and the selected Proposer. Page 4 of 31 PROPOSAL INFORMATION SECTION 1 —INTRODUCTION The City of Port Arthur is seeking proposals from experienced Commercial/Residential Developers to develop 35.24 acres of vacant City-owned property ("the Site") located on Pleasure Island into mixed use development and in conformance with the City's Comprehensive Plan. e , . . . . .....„.., _., w. ` x ,. {� ram• 4 t 4e L ow mil? 1 4,41111* <.:A` _ - The development shall be pursuant to applicable sections of the Texas Local Government Code and Port Arthur Code of Ordinances, in accordance with the terms, conditions, and requirements set forth in this Request for Proposals ("RFP"). PROPOSERS ARE ENCOURAGED TO FULLY READ THE INFORMATION CONTAINED IN THIS RFP CAREFULLY AND TO SUBMIT A COMPLETE RESPONSE TO ALL REQUIREMENTS AND QUESTIONS AS DIRECTED. 1.1 The Opportunity: City is seeking to sell the Site at or above fair market value to an experienced developer in order to develop the property as mixed-use. Although the Site is currently zoned Light Commercial,the Site presents an opportunity for mixed-use development. The future developed Site should include any combination of housing, office, retail,medical,water-themed recreational, commercial or industrial component. 1.2 The Desired Outcome: The requirement is a water-themed recreational project. In addition the City will evaluate the highest and best use of the Site is any combination of housing, office, retail, medical, commercial or industrial component. Page 5 of 31 V. +Z` �'L ♦ .7 y. '# ,ram Yet' i s4 � • a. .t . L „, , a Vision for the Marina District s f: ;.ate-a... - - -r i 1 `' '`§ 6 L! 4-s g .. _... . 4.,..... _. _ m A p K E T i i11� "• > a_r IP— . �' �.c' —'r"". 14,1 eras <.... d� � j � - ri. w` • _ ! 1.3 The Site: The Site is approximately 35.24 acres of undeveloped vacant land Located on Pleasure Island in The City of Port Arthur Legally Described As: 35.24 ACRES OF LAND OUT OF THE H. L. MCKEE SURVEY ABSTRACT NO. 930, CITY OF PORT ARTHUR SURVEY ABSTRACT NO. 931 & ABSTRACT NO. 932 JEFFERSON COUNTY, TEXAS (see-figures below) Page 6 of 31 / .> 1 1 .. ..r... 4r i ....r. ,, .� x. .... I....I•..pl•.,... t ...m.0 �R'' a rl n 9 ,.aao%ar 'als-76, xn,%nr .. s�t x LA4C410 NW Y J ' Page 7 of 31 J RELIYM AR"PLAT OF '• PLEASURE I TRACT I er E __ --.. i .. ....! �� I 1 A`C'4ES OF�AND 35 2 ® I- HFRC y 3 TRA0 'CO. 93 SURVEY ,� .. .. . ABSTRACT RA O 930. OF T ARTHUR^,URVEY '—..- — ABSTRACT NO.93• JJJj & 'ME CUY OF T ARTHUR SURVEY T NO.932 +EFFERSON COUNTY, TEXAS -. .3-:.' .°s.•"....._,...:..,..._. _ fIX.Y!:. f<I 1h 11 1Fk. Cw. L"JX it .. _ ..., �.«.=....«,.... �........._._='•4.:.. . _- - _ -_ __ ,., « n..... .,aew..r,.'" vr..e. r .v.. ..«. - ,r ........ ' .. f .$i.` J Af. ......','I'Yon, I'i'IR I!ICA.I.F•.,•... b "`1 h : ..,e R.wen WY° �qf '44 ' %- i krrlrr f. OP. �rren + J.. . - ..« r. ..«..._, TwA4Tl 5 !cir 5 �' . � _ _ ! ., , Iy.Vyi yJ,! I IOY k0 O.O>� 1) lrwwv my- nKc.>x 1 I•I' 1 !Fir; .gin Y .ti Is" / ea .,ir,. .S'13"tr.r. ,,,..Y3 j•1 _'�1 _ ,' VOYCAS ^I�.w_.....:;':, . Site History: On May 29, 1951, City of Port Arthur dedicated the Site as a park land for the people of Port Arthur. A portion of this Site had been historically utilized as a music park. On May 7, 2022, a Special Election was held to submit a proposition to the qualified voters as to the sale of various land on Pleasure Island, to be sold according to the specific requirements of the City Charter,Texas Local Government Code, Texas Parks and Wildlife Code. Proposition A was adopted by qualified voter which authorize the sell in fee title interest in land the City owns, holds, or claims as a park for fair market value, based upon a certified appraisal. Existing Buildings: There are no existing building structures on the Site. Access, streets, and sidewalk: The Site has a water frontage with a board walk bordering the south perimeter facing Sabine Lake that can be accessed from Pleasure Pier Blvd. The Site is located adjacent to the Pleasure Island RV Park and Pleasure Island Marina. Drainage: The Site will require a substantial degree of floodplain reclamation to maximize development potential. Existing Zoning: The Site is currently zoned as LC —Light Commercial but is expected to be re- \ zoned to MU — Mixed Used District upon the adoption of the new City Zoning Ordinance by the City Council. Current Zoning Page 8 of 31 \ « k ! \ 7 17 y y . . . . i § f 3 ` \ I z. i k . ; / } ®d . . , \ o % : / 7 » 2 A , \ » ` ^ % , y > . < \§ '47 , y> >�. , . <»y / \ «\`^ >y g < . a. » / y � »: a � : � ^^i ©«wm © ± . ° f / / � ° �� w . ± . ƒ Q y 7 \. : /: ?, /.• � � z $ » d . � v» . . � a < ? \` ' « \«/ > / y. c . ©� ±y ./� /y \ \°\ �� r. .`, _ am.% ,. t - g \, / 14. .>` y f I -c '1' r C012) ► 17X A. _ Proposed Zoning �.4,l . 'worse r ,) f 1 /• NH' f,. ox Existing Topography: The Site is situated on 18.5-mile-long man-made body of land that extends from the mouth of the Neches River on the northwest to the Sabine Causeway on the southeast and is surrounded by Sabine Lake and the Sabine Neches Intracoastal Waterway. The Site is heavily wooded and irregular in shape. Appraised Value: The market value of the Site as of August 01. 2022, is $916,000, as determined by a certified commercial appraisal report dated August 15, 2022 and attached it to this RFP. 1.4 Qualifications Being Sought: A. A development entity with a demonstrated track record and continued capability, as a company and/or Development Team, to successfully reclaim floodplain to develop the Site as residential and/or commercial without legal or technical problems. B. Capability to provide the resources, including financial, equipment and staffing. necessary to meet project requirements. C. Past performance on similar projects with other local municipalities on construction of reclamation development projects and is not currently, nor ever have been, on the federal government's suspended or debarred list. D. Qualifications and experience of the team members proposed to manage the project for Proposer as evidenced by the resumes of the proposed personnel. Only those personnel who will be directly involved in and assigned to this project shall be submitted with their role clearly indicated. Page 10 of 31 E. Quality of references from past funding or equity sources, municipalities, or other entities which are qualified to comment on the company and/or Development Team's ability to successfully develop the Site. 1.5 Role of Development Team and City: Following Developer's selection and execution of an Exclusive Right to Negotiate agreement, Developer shall proceed with detailed due diligence, pre-development, and entitlement activities while working with City to negotiate a Purchase and Sale Agreement for the property. The City anticipates that the general scope of the successful Developer team's responsibilities would include, but not be limited to: A. Entitlements The Developer shall be responsible for all aspects of the Project including pre-development planning, environmental review and design. The selected Developer shall be responsible, at its sole expense, for obtaining all land use entitlements and other government approvals required for its proposed Project. During the Negotiation Period, the selected Developer shall prepare and process an Initial Study and undertake all other actions required under CEQA for City approval of the Project, at Developer's cost. In addition to the Initial Study, Developer may, during the Negotiation Period, without any guaranty of approval therefor, seek City approval of a General Plan amendment, zone change, and any subdivision entitlements that may be required for the development of the Project. B. Predevelopment Costs The selected Developer shall bear all predevelopment costs relating to this project. All fees or expenses of engineers, architects, financial consultants, attorneys,planning or other consultants or contractors retained by Developer for any study, analysis, evaluation, report, schedule, estimate, environmental review, surveys, planning and/or design activities, drawings, specifications or other activity or matter relating to the Project shall be the sole responsibility of and undertaken at the sole cost and expense of Developer and no such activity or matter shall be deemed to be undertaken for the benefit of, at the expense of, or in reliance upon the City. C. Reimbursable Costs The selected Developer shall reimburse the City for the actual out-of-pocket costs and expenses that include, but not limited to, title reports, title searches, appraisal costs, replats, taxes and other various real estate transaction fees in negotiating and preparing the Purchase and Sale Agreement and fulfilling its obligations under this Agreement. D. Legislative Action City and Developer acknowledge that the City must exercise its independent legislative authority in making any and all findings and determinations required of it by law concerning the City Parcels. Developer selection does not restrict the legislative authority of the City in any manner whatsoever and does not obligate the City to enter into the Exclusive Right to Negotiate Agreement or to take any course of action with respect to the Project. Page 11 of 31 E. Financing The Developer shall be responsible for providing funding for the Project, whether it be in the form of debt financing, equity, tax credits or a combination of these methods. If debt financing is used, no financial risk or credit risk shall be imposed upon or borne by the City. F. Construction The Developer shall be responsible for demolition, construction and commissioning of the Project including obtaining all permits, fees, and approvals necessary for construction of the Project. The City is committed to facilitating the development of the Site by any reasonable means, including rezoning the property and consideration of economic development incentives. SECTION 2—NOTICE TO PROPOSERS 2.1 Request for Qualifications Notice: The City is accepting RFPs from experienced Developers to develop the Site in accordance with the terms, conditions and requirements set forth in this RFP. For the purposes of this RFP, "Developer or Development Team" shall mean a primary development entity(individual or company)that will be responsible for the development of the Site and any of its development partners including, but not limited to architectural and engineering firms,construction companies,equity and debt financing partners, and project management firms. 2.2 The City's Contact: QUESTIONS —All questions regarding the meaning or intent of these documents must be submitted in writing to: City of Port Arthur Clifton Williams, Purchasing Manager P.O. Box 1089 Port Arthur, TX 77641 cifton.williams(a,portarthurtx.gov The City, as it determines necessary for interpretation or clarification, will respond to such questions through addenda to all "plan holders" on record. 2.3 Proposer's Acceptance of Evaluation Methodology: WAIVER OF CLAIMS: Each Proposer by submission of a response to this RFP waives any claims it has or may have against the City, its consultants, and their respective employees, officers, members, directors and partners; the City's Representative and its employees, officers, members, directors and partners; and the City, its employees, officers and elected officials, agents, representatives, that are connected with or arising out of this RFP, including, the administration of the RFP,the RFP evaluation, and the selection of qualified Proposers to receive a RFP. Submission of a Proposal indicates Proposer's acceptance of the evaluation technique and Proposer's recognition that some subjective judgments must be made by the City during the evaluation of the Proposals received. Without limiting the generality of the foregoing, each Proposer acknowledges that the basis of selection and that the evaluations shall be made public in accordance with applicable Page 12 of 31 law and waives any claim it has or may have against the above-named persons, due to information contained in such evaluations. 2.4 Proposer's Commitment: Proposer understands and agrees that the City has the ability to terminate its selection process at any time, and to reject any and all responses, or any and all submittals, and that the City has made no representation, written or oral, that it will accept a proposal or award a contract for this Project. 2.5 Deed The City will provide a Special Warranty Deed at closing for the property being sold. It is at the election and cost of the winning bidder to purchase title insurance. 2.6 Proposer's Eligibility: Only individual firms or formal joint ventures may respond to this RFP. Two firms may not respond jointly unless they have formed a joint venture. (This does not preclude a Proposer from utilizing consultants and/or sub-consultants.) 2.7 Key Events Schedule: The tentative timeline established by the Cities for the selection process is: First Advertisement and Issue RFP: September 17, 2022 Second Advertisement: September 24, 2022 Interpretation/Request Deadline: October 12, 2022 Issue Addendum: October 19, 2022 RFP Deadline: October 26, 2022 Interviews, if needed: Recommendation to Award: November 16, 2022 This timeline is subject to change by the City. SECTION 3 — SUBMITTAL, EVALUATION AND SELECTION PROCEDURES 3.1 Submittal Requirements: Proposals and any other information submitted in response to this RFP shall become the property of the City. Proposers may submit more than one response to this RFP; however, each response must be a separate and complete package that can be considered independently of any other response from the same Proposer. Submittals should include the following: A. Cover Letter Signature from authorized officer/agent of the development entity B. Development Team Composition, Experience, and Financial Capacity Page 13 of 31 Primary Development Entity— full legal name. type, primary contact. Proposed Development Team — brief resumes for key members including company information. Ownership Entity—type, formation data, general and managing partner, or other principal. List of projects (completed or nearly completed) in which the development entity or key member(s) has (have) been involved in the past five (5) years. Describe in greater detail those projects from the previous list that are similar in type, size, scale or complexity to the project scope anticipated in this RFP. To the extent possible, please include project name, type, location, description including land use and building square footages, current status, composition of Development Team, project cost, project financing, and project photos/renderings/marketing materials. List any current projects in the pre-development, design, or construction phase. Include a Statement of Financial Capacity as well as a Certified Financial Statement showing the assets and the liabilities, including contingent liabilities, of the development entity, and any affiliates/partners with more than a ten (10%) ownership interest in the development entity, fully itemized in accordance with accepted accounting standards. Confidential financial information should be clearly labeled as such. The City will consider and treat such information as confidential to the extent allowed by law. Include any additional information deemed helpful in demonstrating the Developer's financial capacity and capability to complete the proposed development. C. Proposed Concept Describe in great detail the proposed vison and/or concept for the residential project anticipated in this RFP. To the extent possible, describe the proposed land use, anticipated buildings/residential units, required infrastructure, amount of floodplain reclamation, design and development standards, amenities, landscaping and project post-development projected tax valuation. Please include any available photos, renderings and marketing materials. D. Price for Site The amount to be paid to the City for the Site shall be listed on the enclosed Bid Sheet. E. References Provide at least five (5) references with sufficient information to evaluate the Development Team's past performance, ideally on those projects of similar type, size, scale, or complexity to the project scope anticipated in this RFP. References should include company/organization, names, titles, telephone numbers, and email addresses for individuals who can provide information related to the capabilities of the Development Team and key team members. Page 14 of 31 F. Proposer's Signature Page and Conflict of Interest Questionnaire Proposers must complete, sign, and include Proposer's Signature Page and Conflict of Interest Questionnaire with the submittal. Failure to include these documents may subject the submittal to disqualification. 3.2 Submittal Format: Follow details listed in item 2 in the General Clauses and Conditions,page 1. Submitted materials must be enclosed in a sealed envelope (or box or container); clearly indicating "RFP No. 22-090; DELIVERY ADDRESS: Please submit one (1) original and three (3) exact duplicate copies of your RFP to: CITY OF PORT ARTHUR CITY OF PORT ARTHUR CITY SECRETARY Or CITY SECRETARY P.O. BOX 1089 444 4TH STREET, 4th Floor PORT ARTHUR, TEXAS 77641 PORT ARTHUR, TEXAS 77641 - All submittals must conform to the requirements outlined in the RFP. Incomplete submittals will not be considered. - Telephone ("PHONE"), Facsimile ("FAX"), or Internet("E-mail") submittals will not be accepted. 3.3 Submittal Deadline: The City will accept responses to this RFP until the time and date listed in Section 2.7, after which time all responses timely received will be publicly opened, and the names of the Proposers read aloud. Responses received after the submittal deadline will not be considered. 3.4 Evaluation of Submittals: The City will evaluate all submittals and may invite consultants and representatives from other qualified organizations to evaluate the submittals as deemed necessary. The decision to reject any or all proposals is final and is not subject to due process or appeal. The City reserves the right to request additional information from any Proposer, to interview any Proposer, and to request and secure modifications or amendments to any submittal. 3.5 Selection Procedure: Selection Process: The time period for awarding the RFP is set out in Section 2.7 above. The City will evaluate each response. The City will review written responses and score the responses on demonstrated competence, qualifications, and responsiveness to the RFP using the point system outlined below. The City may choose to interview developers submitting RFPs. Scoring (100-point scale): A. 50 points—Developer's proposed concept o Quality of proposed design o Strength of response and alignment to market conditions o Proposed building and architectural standards and design Page 15 of 31 o Proposed amenities and landscaping o Pedestrian connectivity with surrounding area o Alignment of response with objectives outlined in the RFP o Must submit timeline of the phases of the project o Must submit marketing strategy for completed development B. 20 points—Experience with Floodplain Reclamation o Experience in obtaining hydrologic engineering studies o Past experience obtaining FEMA Letters of Map Revision (LOMRs) o Experience obtaining fill permits and/or floodplain alteration permits o Knowledge of Port Arthur codes and ordinances related to floodplain regulations C. 20 points—Financials for Site o The amount listed for the Site to be paid to City. To meet requirements of State law, the price must be the $916,000.00, market value of the land, or higher. o A letter of credit must be obtained from a bank or financial institute that guarantees we will receive the buyer's payment on time and for the full amount o Proposer must submit financial statements from the last five years. D. 10 points -Developer Qualifications, including Individuals and Company a. Firm's number of years in business, size and staffing b. Firm's experience developing projects of similar scope, size and quality including relevant examples c. Experience of proposed personnel on similar projects and as a project team d. References Page 16 of 31 GENERAL INFORMATION: NOTE: It is extremely important that the Vendor, Bidder,and/or Contractor furnish the City of Port Arthur the required information specified in Bid or Proposal Specifications listed in this Bid Package. All bids meeting the intent of this request for bid will be considered for award. BIDDERS TAKING EXCEPTION TO THE SPECIFICATIONS, OR OFFERING SUBSTITUTIONS, SHALL STATE THESE EXCEPTIONS BY ATTACHMENT AS PART OF THE BID. The absence of such a list shall indicate that the bidder has not taken exceptions and the City shall hold the bidder responsible to perform in strict accordance with the specifications of the invitation. The City reserves the right to accept any and all or none of the exception(s)/substitutions(s) deemed to be in the best interest of the City of Port Arthur. ALTERING BIDS: Bids cannot be altered or amended after submission deadline. Any interlineations, alteration, or erasure made before opening time must be initialed by the signer of the bid, guaranteeing authenticity. BID AWARD: The City of Port Arthur will review all bids for responsiveness and compliance with these specifications. The award shall be made to the responsive, responsible bidder who submits the best value bid. The City reserves the right to: 1. Reject any and all bids and to make no award if it deems such action to be in its best interest. 2. Award bids on the lump sum or unit price basis, whichever is in the best interest of the City. 3. Reject any or all bids and to waive informalities or defects in bids or to accept such bids as it shall deem to be in the best interests of the City. 4. Award bids to bidders whose principal place of business is in the City of Port Arthur and whose bid is within 5% of the lowest bid price, as provided by Section 271.905 of the Texas Government Code. Excluding Federal Funds TERMINOLOGY: "Bid" vs. "Proposal"--For the purpose of this ITB, the terms "Bid" and Proposal" shall be equivalent. Bidders are cautioned to read the information contained in this ITB carefully and to submit a complete response to all requirements and questions as directed. CONFLICT OF INTEREST: Provide a completed copy of the Conflict of Interest Questionnaire (Form CIQ). The Texas legislature recently enacted House Bill 914 which added Chapter 176 to the Texas Local Government Code. Chapter 176 mandates the public disclosure of certain information concerning persons doing business or seeking to do business with the City of Port Arthur, including affiliations and business and financial relationships such persons may have with City of Port Arthur officers. The form can be can be located at the Texas Ethics Commission website: https://www.ethics.state.tx.us/filinginfo/conflict forms.htm By doing business or seeking to do business with the City of Port Arthur including submitting a response to this RFP, you acknowledge that you have been notified of the requirements of Chapter Page 17 of 31 176 of the Texas Local Government Code and you are representing that you in compliance with them. Any information provided by the City of Port Arthur is for information purposes only. If you have concerns about whether Chapter 176 of the Texas Local Government Code applies to you or the manner in which you must comply,you should consult an attorney. ETHICS: Public employees must discharge their duties impartially so as to assure fair, competitive access to governmental procurement by responsible contractors. Moreover, they should conduct themselves in such a manner as to foster public confidence in the integrity of the City of Port Arthur's procurement organization. Any employee that makes purchases for the City is an agent of the City and is required to follow the City's Code of Ethics. MINIMUM STANDARDS FOR RESPONSIBLE PROSPECTIVE BIDDERS.: A prospective bidder must affirmatively demonstrate bidder's responsibility. A prospective bidder must meet the following requirements: 1. Be able to comply with the required or proposed delivery schedule. 2. Have a satisfactory record of performance. 3. Have a satisfactory record of integrity and ethics. 4. Be otherwise qualified and eligible to receive an award. 5. Be engaged in a full time business and can assume liabilities for any performance or warranty service required. 6. The City Council shall not award a contract to a company that is in arrears in its obligations to the City. 7. No payments shall be made to any person of public monies under any contract by the City with such person until such person has paid all obligations and debts owed to the City, or has made satisfactory arrangements to pay the same. ADDENDA: Any interpretations,corrections or changes to the ITB and Specifications will be made by addenda. Sole issuing authority of addenda shall be vested in the City of Port Arthur Purchasing Manager. The City assumes no responsibility for the bidder's failure to obtain and/or properly submit any addendum. Failure to acknowledge and submit any addendum may be cause for the bid to be rejected. It is the vendor's responsibility to check for any addendums that might have been issued before bid closing date and time. PORT ARTHUR PRINCIPAL PLACE OF BUSINESS: Any bona fide business that claims the City of Port Arthur as its principal place of business must have an official business address (office location and office personnel)in Port Arthur,the principal storage place or facility for the equipment shall be in Port Arthur and/or the place of domicile for the principal business owner(s) shall be in Port Arthur or such other definition or interpretation as is provided by state law. Contractors outside the City of Port Arthur are allowed to bid. PRICES: The bidder should show in the proposal both the unit price and total amount, where required, of each item listed. In the event of error or discrepancy in the mathematics, the unit price shall prevail. Page 18 of 31 PURCHASE ORDER: A purchase order(s) shall be generated by the City of Port Arthur to the successful bidder. The purchase order number must appear on all itemized invoices. INVOICES: All invoices shall be mailed directly to the City of Port Arthur, Attn.: Development Services,P.O. Box 1089, Port Arthur, Texas 77641. PAYMENT: Payment will be made upon receipt of the original invoice and the acceptance of the goods or services by the City of Port Arthur, in accordance with the State of Texas Prompt Payment Act. Article 601f V.T.C.S. The City's standard payment terms are net 30, i.e. payment is due 30 days from the date of the invoice. SALES TAX: The City of Port Arthur is exempt by law from payment of Texas Sales Tax and Federal Excise Tax; therefore the proposal shall not include Sales Tax. VENUE: This agreement will be governed and construed according to the laws of the State of Texas. This agreement is performable in Port Arthur, Texas, Jefferson County. COMPLIANCE WITH LAWS: The Contractor shall comply with all applicable laws,ordinances, rules, orders, regulations and codes of the federal, state and local governments relating to performance of work herein. INTEREST OF MEMBERS OF CITY: No member of the governing body of the City, and no other officer, employee or agent of the City who exercises any functions or responsibilities in connection with the planning and carrying out of the program, shall have any personal financial interest, direct or indirect, in this Contract; and, the Contractor shall take appropriate steps to assure compliance. DELINQUENT PAYMENTS DUE CITY: The City of Port Arthur Code of Ordinances prohibits the City from granting any license, privilege or paying money to any-one owing delinquent taxes, paving assessments or any money to the City until such debts are paid or until satisfactory arrangements for payment has been made. Bidders must complete and sign the AFFIDAVIT included as part of this ITB. QUANTITIES: Quantities shown are estimated, based on projected use. It is specifically understood and agreed that these quantities are approximate and any additional quantities will be paid for at the quoted price. It is further understood that the contractor shall not have any claim against the City of Port Arthur for quantities less than the estimated amount. SHIPPING INFORMATION: All bids are to be F.O.B., City of Port Arthur, Port Arthur, TX 77640 INCORPORATION OF PROVISIONS REQUIRED BY LAW: Each provision and clause required by law to be inserted into the Contract shall be deemed to be enacted herein and the Contract shall be read and enforced as though each were included herein. If, through mistake or otherwise, any such provision is not inserted or is not correctly inserted the Contract shall be amended to make such insertion on application by either party. CONTRACTOR'S OBLIGATIONS: The Contractor shall and will, in good workmanlike manner, perform all work and furnish all supplies and materials, machinery, equipment, facilities and means, except as herein otherwise expressly specified, necessary or proper to perform and Page 19 of 31 complete all the work required by this Contract, in accordance with the provisions of this Contract and said specifications. The apparent silence of these specifications as to any detail or to the apparent omission from it of a detailed description concerning any point shall be regarded as meaning that only the best commercial practices are to prevail. While the purpose of the specifications is to indicate minimum requirements in the way of capability, performance, construction, and other details, its use is not intended to deprive the City of Port Arthur the option of selecting goods which may be considered more suitable for the purpose involved. In the event of conflicts between the written bid proposal and information obtained verbally, the vendor is specifically advised that the written bid proposal will prevail in the determination of the successful bidder. Under the Title VI of the Civil Rights Act of 1964, no person shall, on the grounds of race, color, or national origin, be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any program or activity receiving Federal financial assistance. TERMINATION FOR CAUSE: If,through any cause,the Contractor shall fail to fulfill in a timely and proper manner his obligations under this contract, or if the Contractor shall violate any of the covenants, agreements or stipulations of this contract, the City shall thereupon have the right to terminate this contract by giving written notice to the Contractor of such termination and specifying the effective date thereof, at least fifteen (15) days before the effective date of such termination. Notwithstanding the above, the Contractor shall not be relieved of liability to the City for damages sustained by the City by virtue of any breach of the contract by the Contractor, and the City may withhold any payments to the Contractor for the purpose of set-off until such time as the exact amount of damages due the City from the Contractor is determined. TERMINATION FOR CONVENIENCE: The City may terminate this contract at any time giving at least thirty(30) days notice in writing to the Contractor. If the Contract is terminated by the City as provided herein, the Contractor will be paid for the service that it has performed up to the termination date. If this contract is terminated due to fault of the Contractor,the previous paragraph hereof relative to termination shall apply. RELEASES AND RECEIPTS: The City of Port Arthur before making payments may require the Contractor to furnish releases or receipts for any or all persons performing work and supplying material or service to the Contractor, or any sub-contractors for work under this contract, if this is deemed necessary to protect its interests. CARE OF WORK: The Contractor shall be responsible for all damages to person or property that occurs as a result of his fault or negligence in connection with the work performed until completion and final acceptance by the City. SUB-CONTRACTS: The Contractor shall not execute an agreement with any sub-contractor or permit any sub-contractor to perform any work included in this Contract until he has received from the City of Port Arthur written approval of such agreement. Page 20 of 31 INSURANCE: All insurance must be written by an insurer licensed to conduct business in the State of Texas, unless otherwise permitted by Owner. The Contractor shall, at his own expense,purchase, maintain and keep in force insurance that will protect against injury and/or damages which may arise out of or result from operations under this contract,whether the operations be by himself or by any subcontractor or by anyone directly or indirectly employed by any of them, or by anyone for whose acts any of them may be liable, of the following types and limits 1. Standard Worker's Compensation Insurance: 2. Commercial General Liability occurrence type insurance City of Port Arthur, its officers, agents, and employees must be named as an additional insured): a. Bodily injury $500,000 single limit per occurrence or $500,000 each person/$500,000 per occurrence for contracts of$100,000 or less; or Bodily injury $1,000,000 single limit per occurrence or$500,000 each person/$1,000,000 per occurrence for contracts in excess of$100,000: and, b. Property Damage $100,000 per occurrence regardless of contract amount; and, c. Minimum aggregate policy year limit of$1,000,000 for contracts of $100,000 or less; or, Minimum aggregate policy year limit of$2,000,000 for contracts in excess of$100,000. 3. Commercial Automobile Liability Insurance (Including owned, non-owned and hired vehicles coverage's). a. Minimum combined single limit of$500,000 per occurrence, for bodily injury and property damage. b. If individual limits are provided, minimum limits are $300,000 per person, $500,000 per occurrence for bodily injury and$100,000 per occurrence for property damage. Contractor shall cause Contractor's insurance company or insurance agent to fill in all information required (including names of insurance agency, contractor and insurance companies, and policy numbers, effective dates and expiration dates) and to date and sign and do all other things necessary to complete and make into valid certificates of insurance and pertaining to the above listed items, and before commencing any of the work and within the time otherwise specified, Contractor shall file completed certificates of insurance with the Owner. None of the provisions in said certificate of insurance should be altered or modified in any respect except as herein expressly authorized. Said CERTIFICATE OF INSURANCE Form should contain a provision that coverage afforded under the policies will not be altered,modified or canceled unless at least fifteen (15) days prior written notice has been given to the City of Port Arthur. Contractor shall also file with the City of Port Arthur valid CERTIFICATE OF INSURANCE on like form from or for all Subcontractors and showing the Subcontractor (s) as the Insured. Said completed CERTIFICATE OF INSURANCE Form (s) shall in any event be filed with the City of Port Arthur not more than ten (10) days after execution of this Contract. Page 21 of 31 NOTICE TO PROCEED: Notice to Proceed shall be issued within ten (10) days of the execution of the Contract by OWNER. Should there be any reasons why Notice to Proceed cannot be issued within such period, the time may be extended by mutual agreement between OWNER and CONTRACTOR. CELL PHONE OR PAGER: The Contractor must have a working cell phone or pager available Monday through Friday from 8:00 a.m. to 5:00 p.m. so that the City will be able to contact the contractor. Page 22 of 31 APPENDICES Please include Appendix A—D when submitting proposal documents. Page 23 of 31 APPENDIX A INVITATION TO BID CITY OF PORT ARTHUR,TEXAS BID SHEET BID FOR: PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND BID DUE DATE: OCTOBER 26,2022 DESCRIPTION TOTAL PURCHASE PRICE PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND S COMPANY NAME STREET ADDRESS SIGNATURE OF BIDDER P.O. BOX PRINT OR TYPE NAME CITY STATE ZIP TITLE AREA CODE TELEPHONE NO EMAIL FAX NO. Page 24 of 31 APPENDIX B LETTER OF INTEREST RFP — Purchase & Development of 35.24 Acres of Land on Pleasure Island Deadline: October 26, 2022 The undersigned firm submits the following information (this RFP submittal) in response to the Request for Proposals (as amended by any Addenda), issued by the City of Port Arthur, TX (City) for PURCHASE AND DEVELOPMENT OF 35.24 ACRES OF LAND LOCATED ON PLEASURE ISLAND Enclosed, and by this reference incorporated herein and made a part of this RFP, are the following: ❖ Bid Sheet ❖ Completed RFP Letter of Interest Form ❖ Completed Affidavit • Completed Conflict of Interest Form :• Non Collusion Affidavit ❖ SB 252 • House Bill 89 Firm understands that the City is not bound to select any firm for the final pre-qualified list and may reject any responses submitted. Firm also understands that all costs and expenses incurred by it in preparing this RFP and participating in this process will be borne solely by the firm, and that the required materials to be submitted will become the property of the City and will not be returned. Firm agrees that the City will not be responsible for any errors, omissions, inaccuracies, or incomplete statements in this RFP. Firm accepts all terms of the RFP submittal process by signing this letter of interest and making the RFP submittal. This RFP shall be governed by and construed in all respects according to the laws of the State of Texas. Firm Name Date Authorized Signature Title Name (please print) Telephone Email Page 25 of 31 APPENDIX C AFFIDAVIT All pages in Offeror's Responses containing statements, letters, etc., shall be signed by a duly authorized officer of the company whose signature is binding. The undersigned offers and agrees to one of the following: I hereby certify that I do not have outstanding debts with the City of Port Arthur. I further agree to pay succeeding debts as they become due. I hereby certify that I do have outstanding debts with the City of Port Arthur and agree to pay said debts prior to execution of this agreement. I further agree to pay succeeding debts as they become due. I hereby certify that I do have outstanding debts with the City of Port Arthur and agree to enter into an agreement for the payment of said debts. I further agree to pay succeeding debts as they become due. Firm Name Date Authorized Signature Title Name (please print) Telephone Email STATE: COUNTY: SUBSCRIBED AND SWORN to before me by the above named on this the day of . 20 Notary Public RETURN THIS AFFIDAVIT AS PART OF THE BID PROPOSAL Page 26 of 31 APPENDIX D CONFLICT OF INTEREST QUESTIONNAIRE FORM Cla For vendor doing business with local governmental entity This questionnaire reflects changes made to the law by H.B.23,84th Leg.,Regular Session. OFFICE USE ONLY This questionnaire is being filed in accordance with Chapter 176,Local Government Code,by a vendor who Date Received has a business relationship as defined by Section 176.001(1-a)with a local governmental entity and the vendor meets requirements under Section 176.006(a). By law this questionnaire must be filed with the records administrator of the local governmental entity not later than the 7th business day after the date the vendor becomes aware of facts that require the statement to be filed. See Section 176.0061a-1),Local Government Code. A vendor commits an offense if the vendor knowingly violates Section 176.006,Local Government Code.An offense under this section is a misdemeanor. J Name of vendor who has a business relationship with local governmental entity. J riCheck this box if you are filing an update to a previously filed questionnaire.(The law requires that you file an updated completed questionnaire with the appropriate tiling authority not later than the 7th business day after the date on which you became aware that the originally filed questionnaire was incomplete or inaccurate) Name of local government officer about whom the information is being disclosed. Name of Officer J Describe each employment or other business relationship with the local government officer;or a family member of the officer,as described by Section 176.003(a)(2)(A). Also describe any family relationship with the local government officer. Complete subparts A and B for each employment or business relationship described. Attach additional pages to this Form CIQ as necessary. A. Is the local government officer or a family member of the officer receiving or likely to receive taxable income; other than investment income.from the vendor? nYes n No B. Is the vendor receiving or likely to receive taxable income,other than investment income.from or at the direction of the local government officer or a family member of the officer AND the taxable income is not received from the local governmental entity? nYes n No Describe each employment or business relationship that the vendor named in Section 1 maintains with a corporation or other business entity with respect to which the local government officer serves as an officer or director,or holds an ownership interest of one percent or more. ElCheck this box if the vendor has given the local government officer or a family member of the officer one or more gifts as described in Section 176.003(a)(2)(B), excluding gifts described in Section 176.003(a-1). Signature of vendor doing business with the governmental entity Date Form provided by Texas Ethics Commission www.ethics.state.tx.us Revised 11.30/2015 Page 27 of 31 CONFLICT OF INTEREST QUESTIONNAIRE For vendor doing business with local governmental entity Acomplete copy of Chapter 176 of the Local Government Code may be found at http:Iiwww.statutes.legis.state.tx.usi Docs/LG/htm/LG.176.htm.For easy reference,below are some of the sections cited on this form. Local Government Code§176.001(1-a):"Business relationship"means a connection between two or more parties based on commercial activity of one of the parties. The term does not include a connection based on: (A) a transaction that is subject to rate or fee regulation by a federal,state.or local governmental entity or an agency of a federal,state,or local governmental entity; (B) a transaction conducted at a price and subject to terms available tc the public;or (C) a purchase or lease of goods or services from a person that is chartered by a state or federal agency and that is subject to regular examination by,and reporting to,that agency. Local Government Code S 176.003(a)(2)(A)and(B): (a) A local government officer shall file a conflicts disclosure statement with respect to a vendor if: (2) the vendor: (A) has an employment or other business relationship with the local government officer or a family member of the officer that results in the officer or family member receiving taxable income, other than investment income. that exceeds$2,500 during the 12-month period preceding the date that the officer becomes aware that (i) a contract between the local governmental entity and vendor has been executed: or (ii) the local governmental entity is considering entering into a contract with the vendor; (B) has given to the local government officer or afamily member of the officer one or more gifts that have an aggregate value of more than$100 in the 12-month period preceding the date the officer becomes aware that: (i) a contract between the local governmental entity and vendor has been executed;or (ii) the local governmental entity is considering entering into a contract with the vendor. Local Government Code§176.006(a)and(a-i) (a) A vendor shall file a completed conflict of interest questionnaire if the vendor has a business relationship with a local governmental entity and: (1) has an employment or other business relationship with a local government officer of that local governmental entity,or a family member of the officer,described by Section 176.003(a)(2)(A); (2) has given a local government officer of that local governmental entity,or a family member of the officer.one or more gifts with the aggregate value specified by Section 176.003(a)(2)(B),excluding any gift described by Section 176.003(a-1):or (3) has a family relationship with a local government officer of that local governmental entity. (a-1) The completed conflict of interest questionnaire must be filed with the appropriate records administrator not later than the seventh business day after the later of: (1) the date that the vendor: (A) begins discussions or negotiations to enter into a contract with the local governmental entity;or (B) submits to the local governmental entity an application,response to a request for proposals or bids, correspondence.. or another writing related to a potential contract with the local governmental entity;or (2) the date the vendor becomes aware: (A) of an employment or other business relationship with a local government officer,or a family member of the officer,described by Subsection(a); (B) that the vendor has given one or more gifts described by Subsection(a);or (C) of a family relationship with a local government officer. Form provided by Texas Ethics Commission www ethics.state.tx.us Revised 11,,102015 Page 28 of 31 APPENDIX E NON-COLLUSION AFFIDAVIT CITY OF PORT ARTHUR § STATE OF TEXAS § By the signature below, the signatory for the bidder certifies that neither he nor the firm, corporation, partnership or institution represented by the signatory or anyone acting for the firm bidding this project has violated the antitrust laws of this State, codified at Section 15.01, et seq., Texas Business and Commerce Code, or the Federal antitrust laws, nor communicated directly or indirectly the bid made to any competitor or any other person engaged in the same line of business, nor has the signatory or anyone acting for the firm, corporation or institution submitting a bid committed any other act of collusion related to the development and submission of this bid proposal. Signature: Printed Name: Title: Company: Date: SUBSCRIBED and sworn to before me the undersigned authority by the of, on behalf of said bidder. Notary Public in and for the State of Texas My commission expires: Page 29 of 31 APPENDIX F SB 252 CHAPTER 2252 CERTIFICATION I . the undersigned an representative of (Company or Business Name) being an adult over the age of eighteen (18) years of age, pursuant to Texas Government Code, Chapter 2252, Section 2252.152 and Section 2252.153, certify that the company named above is not listed on the website of the Comptroller of the State of Texas concerning the listing of companies that are identified under Section 806.051, Section 807.051 or Section 2253.153. I further certify that should the above-named company enter into a contract that is on said listing of companies on the website of the Comptroller of the State of Texas which do business with Iran,Sudan or any Foreign Terrorist Organization, I will immediately notify the City of Port Arthur Purchasing Department. Name of Company Representative (Print) Signature of Company Representative Date Page 30 of 31 APPENDIX G House Bill 89 Verification (Person name), the undersigned representative (hereafter referred to as "Representative") of (company or business name, hereafter referred to as "Business Entity"), being an adult over the age of eighteen (18)years of age, after being duly sworn by the undersigned notary, do hereby depose and affirm the following: 1. That Representative is authorized to execute this verification on behalf of Business Entity; 2. That Business Entity does not boycott Israel and will not boycott Israel during the term of any contract that will be entered into between Business Entity and the City of Port Arthur; and 3. That Representative understands that the term "boycott Israel" is defined by Texas Government Code Section 2270.001 to mean refusing to deal with, terminating business activities with, or otherwise taking any action that is intended to penalize, inflict economic harm on, or limit commercial relations specifically with Israel, or with a person or entity doing business in Israel or in an Israeli-controlled territory, but does not include an action made for ordinary business purposes. SIGNATURE OF REPRESENTATIVE SUBSCRIBED AND SWORN TO BEFORE ME, the undersigned authority, on this day of , 20 . Notary Public Page 31 of 31 EXHIBIT 4 Tax Abatement Agreement Report Property Owner's Name Date of this Report Report Period(semi-annual period covered by this Report) From / /20_To /_/20_ Property Nested Owner Contractors (A) Total number of employees employed on the last day of the Report Period who were Port Arthur residents on the last day of the Report Period (B) Total number of all employees employed on the last day of the Report Period (C) Total number of new hires employed during the Report Period who were Port Arthur residents on their first day of employment (D) Total number of all new hires employed during the Report Period (E) Total number of applicants completing the interview process during the Report Period (A) Total number of Designated LBE's that: • were on the approved vendor list of the Property Owner at any time during the Report Period,and/or • were invited by the Property Owner during the Report Period to bid on contracts for goods and/or services (B) Total number and dollar amount of contracts awarded by the Property Owner during the Report Period for goods and/or services that the Property Owner determines could have potentially been obtained from Designated LBE's: Total Number of Contracts: Total Dollar Amount of Contracts: $ (C) Total number and dollar amount of contracts described immediately(above in II (B)that were awarded to Designated LBE's during the Reporting Period: Total Number of Contracts: Total Dollar Amount of Contracts: $ This Report contains confidential or privileged information. Unauthorized use of this communication is strictly prohibited.This Report is to be submitted to the Office of the City Manager and copied to the City Attorney during the months of January and July for the immediately preceding 6 months.The due date(January 31"or July 31")for submitting a Report may be extended for 30 calendar days upon written request of the Property Owner. Tax Abatement Agreement 4/29/2026 10:52 AM-DRAFT 13