Untitled - Center Realty Associates by wangping12


									The Sofia is a private member/special access club to be        The key elements of Sofia’s concept are as follows:
housed on the penthouse level of the Milan at Town
                                                               1.   Distinctive design features- The Sofia will be characterized
Center Building in Boca Raton, Florida. The Boca Town
Center area is considered one of South Florida’s premier            by the multiple bar areas decorated to various themes that
shopping destinations with an outstanding mix of upscale            appeal to members wide array of tastes. From the more
and elite retailers and fast and casual dining options. At          modern Music Mixology Bar to the sophisticated Modena
present this bustling area of activity has no venue offering        Wine Bar, guests can choose to relax in an atmosphere of
the services of a club such as Sofia.                               their choosing with coordinating artwork, seating areas,
                                                                    and décor based on each bars theme.
The club will be developed to create a fun yet comfortable
                                                               2.   Location, Location, Location- One of the major advantages
environment that melds 1940’s ambiance with modern
elegance that even the most discerning of members would             of the Sofia club is its location in the heart of Boca Raton in
expect in a club of this caliber.                                   the active Boca Town Center area, an established hot spot
                                                                    for shopping and dining.
The dining concept and drink menu for Sofia will be            3.   Exclusivity- South Florida’s most affluent residents will
developed and maintained by Boca Raton’s own celebrity              have a truly unique member-only experience. While other
chef Angelo Morinelli. Chef Angelo has amassed a wealth
                                                                    member only clubs do exist in Palm Beach County, none has
of culinary knowledge from his experiences working and
traveling in Italy, which has translated into tremendous            the fun atmosphere and one-of-a-kind concept like Sofia.
success in his various restaurant venture here in South        4.   Quality Food- The Sofia could not be successful in this
Florida. His passion will be further reflected in his               market, without a strong presence as a quality dining
involvement with Sofia.                                             experience. The Tapas Style menu and drink pairings
                                                                    developed by Chef Angelo Morinelli will please even the
The club will aim to attract a clientele spanning multiple          most discerning of food connoisseurs.
generations from ages 25 onward and will draw a large
                                                               5.   Exceptional Service- In order to reach and maintain a
number of its clients from the large affluent population
residing within a short radius from the club. In addition,          reputation of impeccable service, Sofia will provide
Sofia’s unique nature and perceived exclusivity will draw           attentive and friendly service through a high ratio of service
high-profile members from all over South Florida.                   personnel to customers, and will also invest in training and
                                                                    supervision of its employees to ensure the upmost of quality.
Products and Services

The Sofia represents a unique opportunity to create an elegant and nostalgic private
member club experience that will provide a high-profile clientele a place to unwind and
enjoy the finer things in life. The club’s central location in the Boca Town Center,
excellent demographics, and lack of direct competition are all advantages of this project.

The penthouse venue with spectacular views will have multiple bar areas drawing from
different themes to appeal to member’s various tastes, and can be changed to prevent a
static concept. Modular design also allows for flexibility to offer catering, wedding
events, corporate meetings, fashion shows, and private events as additional sources of
revenue for the club.

Members can enjoy a diverse range of entertainment ranging from 1940’s supper club
singers to soft jazz and even international styles. Chef Angelo will provide a Tapas style
menu offerings that can be expertly paired with the perfect beverage to create a
superlative dining experience for guests. The location of the club is uniquely zoned
allowing for a 4-5am closing time, providing for a unique spot in Boca Raton for a
memorable late evening.
General Objective:

•   Construct, open and operate Club within the next twelve (12) months.

Marketing and Income Objective:

•   Achieve at a minimum gross sales in excess of $11 million per year prior to year three (3) of operation and
    net profits in excess of $8 million within the first five (5) years of operation.

    (See Pro Forma Exhibit A)

•   Open a second venue in 2014 (Miami)

Strategic Objective:

•   Become the most unique & desirable lounge/private member club venue located in South Florida.

•   Establish strategic relationships with national level clubs such as ClubCorp®, and other Miami and New
    York based venues and international destinations.
1. Promoter group has secured (6) months free rent, which is in excess of $240,000.00 from Landlord.

 2. Promoter brings a proven gross business from proven restaurateur (Angelo Morinelli) estimated between $2.5
to $3.5 MM on an annualized basis.

3. The value of fixed and existing improvements including shell infrastructure, parking garage, site parking, etc.
is in excess of $5MM and significantly reduces build-out costs of the internal infrastructure.

4. Promoter has obtained all necessary approvals to operate the premises as a private club, because a 4COP
License is not required with restaurant use, saving $70-85,000. Promoter has done all the design and layout for
restaurant at a value of $50,000.

5. Promoter has paid for plans, architectural, and engineering work for 7th story roof at a cost of $50,000.
One of South Florida’s top shopping destinations, Town
Center at Boca Raton features an outstanding mix of
major upscale and elite specialty retailers along with a
wide array of fast and casual dining options in an
elegant environment. It’s impressive lineup of
department stores includes Neiman Marcus, Saks Fifth
Avenue, Nordstrom, Macy’s, Bloomingdale’s and Sears
and draw customers from the premier coastal
community of Boca Raton, southern Palm Beach
County, and throughout South Florida.

Town Center at Boca Raton is strategically located just
off I-95, the major north-south thoroughfare in South
Florida. Over 10 million shoppers visit the center every
year. Located on South Florida’s Gold Coast, Boca Raton
is one of the most affluent markets in the country and
one of the fastest growing business centers in South
Set less than 30 feet from one of Palm Beach County’s most heavily trafficked roadways-Military Trail, The
Milan at Town Center building is the ultimate “see and be seen” venue in the heart of Boca Raton. The
entrances to the building are easily accessible from Military Trail and Town Center Road. Guests will have the
option of using valet at the building’s front entrance, or those requiring more privacy can gain indoor access
through the protected interior drive located at the back of the building.

There exists over 225 covered parking spaces in an enclosed parking garage on floors 1-4 of the building and
numerous up front surface spots directly facing Military Trail and Town Center Road. This large amount of
parking can handle even the largest of events at the club.
Stepping outside from the Sofia Lounge, members enter the terrace garden
consisting of two separate balconies lined with trees, contemporary outdoor
furniture, and dramatic water & fire features.

The North balcony looks directly down the runway of the Boca Raton Executive

The East balcony looks directly towards Boca Center and onward to Downtown
Boca Raton.

The 45+ seat dining and drinking area is open to members and will also be a
spectacular venue for private events. This area will be referred to as the Sky
Lounge and is planned to be open until 5 AM Thursday to Saturday and until
12am on Sundays providing a late night experience unparalleled in all of Boca
                                                                                                   Sky indoor/outdoor Bar

Club members and visitors entering The Milan at Town
Center building check-in at the Reception located on the
ground level and then take two (2) available elevators
directly to the luxurious Penthouse Reception area.

House receptionists are on hand to greet and assist club
members with all enquiries. With the exception of a high
end salon to the South (Sky Salon) club members will be
the only ones to occupy the penthouse during business

Members and guests will have their choice of
comfortable spaces with various themes such as the club              Modena Wine Bar
sitting room which features armchairs and sofas, books,
large screen televisions and living room style.
Complementary newspapers are available, and attentive                                                 Sushi & Saki Bar
waiters are on hand serving delectable food and drink

The club will be pleasing to the eye with unique and original artworks of local and international themes. In addition, large
windows and raised floors provide panoramic views from east to west of the entire City of Boca Raton including the Corporate
Boca Aviation Airport.
Even the most discerning of food connoisseurs will be delighted
by the menu developed by local celebrity chef Angelo Morinelli.
Chef Angelo is an extremely well versed chef who has amassed
a large wealth of experience from his experiences working and
traveling throughout Italy. After tremendous success at his
family’s restaraunt in New York, Chef Morinelli established
Cucina D’Angelo in 2002, at Boca Center. The restaurant
quickly became recognized as one of South Florida’s finest
destinations for authentic Italian cuisine.

Chef Angelo has garnered the respect of the industry and his
loyal clientele during his over 40 years in the restaurant
business. He has made appearances at The James Beard House,
The Italian Culinary Institute, Bloomingdale’s, Williams            “ The elegance, sophistication and
Sonoma, Fortunoff’s. He has also been featured in The New          charm that Angelo Morinelli brings
York Times, Newsday, The Sun-Sentinel, Palm Beach Illustrated,    to any venue is worth the trip again
Boca Raton Magazine, Zagat’s, Long Island Update, Distinction                    & a g a i n .”
Magazine and others.

With the Sofia Chef Angelo has decided to change up the
common restaurant style to entertain and delight families,
friends, business associates in a more lounge-like atmosphere
with tapas style tastings. He is a true asset to this venture.
The Sofia-Club at Milan is to be marketed externally as a unique member-only club environment that affords its members and
guests a nostalgic experience of an era gone by-the 1940’s combined with modern luxuries and elegance one would expect of a
club of this calibre. The internal positioning goal is to promote upscale fun and comfort for the customers, and authenticity of
presentation by servers and various team members.

Results desired include:

•    Holding 24 theme nights or events per year.
•    By opening day to have 1200 memberships secured.
•    Achieving return visits by 65% of customers within six
     months of events exposed to limited membership evening
     over a cover charge to encourage visitors to “test” the
•    Have 500 new members join the club each year.
•    Achieving an average per-person meal revenue of over
     $100 plus tax and tip
•    Averaging 75% capacity from 5 pm to 11 pm on Thursday,
     Friday and Saturday evenings within two years.

                                     Splurge and be on “The Milan A List.”

Live the private lifestyle while enjoying sophisticated elegance as well as consumers with varied interests and exceptional
   taste. Being a part of the “finer things in life” such as excellent and rare trends in wines, cigars, fashion, music and of
    course, the members themselves. This unique perspective to this member’s only club is that the themes rotate from
                 evening to evening providing enhanced elegance and style to meet everyone’s expectations.
Months            Marketing Theme
  1       Membership organization referrals
                                               Marketing websites we plan to get involved with:
  2             Theme night planning
  3      Advertisement planning and revision   Nightclub.com
  4              Direct mail campaign          Privateclubs.com
  5                Email newsletter            Bocaraton.com
  6               Customer referrals           Delraybeach.com
  7            Website revisit/revision        National.citysearch.com
  8                   PR program               Yahoo.com
  9               Social media tools
                                               And several others
 10             Marketing kit revision
 11             Sophia Points program
 12         Customer feedback program
As we begin to gear up for opening night, Sofia’s plans on using a successful 3rd party marketing company, The Gab Group, to
facilitate and launch a strong image and presence in the market.

                                      SMART PUBLIC RELATIONS = FABULOUS RETURNS

The utilization of smart PR services yields superior results in today’s competitive multimedia marketplace.

The right PR professionals will know how to recognize our story, craft an appropriate media message and promote Sofia to the
world. Our approach to public relations will not focus on the short sell, but instead upon developing a long term favorable
reputation throughout the community. Even after Sofia becomes a hit, we do not anticipate a slow-down in marketing efforts.
Sofia publicity programs are to be uniquely monitored to deliver consistent client results.

What makes an event is one that warrants exceptional guest attendance…

Refreshingly different, uniquely inventive and never duplicated, Sofia buzz-worthy launch parties and VIP grand openings
elicit media excitement, quality guest attendance and most importantly, translate your arrivals into quality customers for the
Sofia brand.

Sofia Events will excel at producing high caliber lifestyle events and media launch parties specifically tailored to capture the
attention of the audience and target customer.
The Sofia is ideally located in the penthouse of the Milan at     The Sofia will focus on attracting members in the 25-75
Town Center in the Boca Raton Town Center area, one of South      year old range with high personal incomes of over
Florida’s premier shopping and dining areas located just off I-   $100,000 annually.       Our client base will be from
95, the major north-south thoroughfares in South Florida.         throughout South Florida, particularly the affluent
Over 10 million shoppers visit the center annually. Major         communities of Boca Raton, Delray Beach, and Highland
shopping centers surrounding the site of Sofia include the        Beach which are home to several millionaires. The club
Town Center Mall a regional super mall that is over 1,700,000     aims to provide professionals and high-profile members an
SF and is immediately adjacent to the Milan at Town Center        elegant club setting where they can relax and congregate
Building. Across from the property is The Shops at Boca           with other individuals who seek quality food, drink,
Center an open-air shopping complex with a wide variety of        entertainment and impeccable service.
higher end shops and dining options.

In addition to the large number of shopping and dining
establishments there also exists a large number of corporate
offices with several corporate headquarters including that of
Office Depot, a Fortune 500 Company. This serves as an
excellent customer base of high-profile professionals.

The Milan at Town Center building sits directly on Town
Center Road, along the main east entrance to the Town Center
Mall. Its southeast side abuts Military Trail - one of Boca
Raton’s main thoroughfares. Daily traffic count on Military
Trail alone averages 34,576 VPD, with an average of 3,504
vehicles during the afternoon’s peak hours giving the club a
high amount of visibility.
                                                              Large Population Base serves up potential customers –
                                                              Current population data has over 86,000 residents within a
                                                              three-mile radius of the site and over 230,000 within a
                                                              five-mile radius. Population estimates have projected
                                                              growth of Boca Raton overall to be approximately 3.4%
Population 2010              86,588     77,125    1,380,178   over the next five years.
Estimated Avg. Household    $107,544   $121,164    $81,227
Income                                                        Established Housing Market - Within a 3-mile radius over
Occupation Classification                                     73% of housing units are owner occupied with median
Ages 16+                     8.9%       9.4%       16.9%      home values over $296,000 further reflecting the financial
   Blue Collar               75.1%      74.3%      61.6%      stability and purchasing power of prospective customers.
   White Collar              16.1%      16.3%      21.5%
   Service and Farm                                           Highly Affluent and Mature Market - Average household
2010 Est. Median Housing    $296,682   $361,892   $207,333    income within a three-mile radius is $107,000, with
Value                                                         several enclaves of median net worth of over $1,000,000 in
                                                              close proximity. The median age of residents throughout
                                                              Boca Raton is 45.4 years old.

                                                              Educated White Collar Community - 75% of residents
                                                              within 3-miles of the property presently hold white collar
                                                              occupations, a rate nearly 15% greater than the county as a
                                                              whole. In addition, over 48% of residents in Boca Raton
                                                              report holding a bachelor’s degree or higher.
Our strategy is simple. We intend to succeed by providing our niche market of South Florida’s most affluent residents a unique and
exciting member-only experience in a fantastic location. Sofia will become the place to see and be seen in all of Palm Beach County.

Differentiators—No Other Location Can Match

1. NO similar private member clubs currently exist in or around Boca Raton, with the exception of the Boca Resort & Hotel which operates as a
hotel and resort and is expected to provide a feeder source of clients. The site is uniquely zoned as CG/SE and is the only location in the city with
a permitted 4-5AM closing time.

2. Parking is overly abundant, and there exists no similar venue with exclusive access to over 225 covered parking spaces within the same
structure of the club and over 300 surface parking spaces that surround the locale.

3. The location directly abuts two of Palm Beach County’s most heavily trafficked roadways- Military Trail and Town Center Road.

4. One of Florida’s largest grossing high end regional shopping malls lies within walking distance of the club.

5. No other club in Boca Raton is located on the top floor of one of the tallest buildings in the entire city with beautiful panoramic views of South

6. There exists no similar venue in Palm beach County with more top-grossing high end restaurants located within a mile or less proximity to
the club.

7. The venue is conveniently located less than 1 mile from an executive airport (Boca Raton Airport) providing easy access to and from Palm
Beach and Broward Counties.

8. No Club in all of Palm Beach County is in such close proximity to over 12 million square feet of office space and corporate headquarters.
As we begin to gear up for opening night, Sofia owners plan to utilize South Florida’s top 3rd party marketing companies to facilitate
and launch a strong image and presence in the market. We anticipate use of Sofia buzz-worthy launch parties and a VIP Grand
Opening to elicit media excitement to attract high quality members.
Before and after launch we will also use the following resources in order to capture the attention of a wide range of potential
Our various membership pricing options are as follows:

We offer four (4) types of memberships & one Nightly membership
                                                                                             Sofia Club Members         $2,500.00
Sofia’s Club Members
                                                                                             Sofia Elite Members        $3,000.00
Club Members membership gives you access to the main area of The
Sofia Club at Milan.                                                                    Affiliated Club Members          $500.00
                                                                                        Affiliated Elite Members        $1,000.00
Sofia’s Elite Members                                                          Visitor Pass (Specific Nights Only)       $150.00
Sofia’s Elite Members membership gives you access to The VIP Lounge
as well as The Sofia Club

Sofia’s Affiliated Club Members
Our affiliate groups are discounted with CLUB ONLY access to The
Sofia Club at Milan.

Sofia’s Affiliated Elite Members
Sofia’s Affiliated Elite Members membership gives you access to The
VIP Lounge as well as The Sofia Club

Annual Membership Rates:
*Prices shown do not include taxes or one time registration fee
*Monthly payment programs are available
We plan to generate net revenues of $12,385,695 by the end of year one (1) up to $15,036,695 by the end of year five (5).




                                                                            Gross Profit

  $6,000,000                                                                Net Income



                 Year 1     Year 2      Year 3     Year 4      Year 5
1.   J. Alexanders Restaurant   6.    Brio (coming soon)   11.   Seasons 52             16.   Grand Lux Cafe            21.   Romano’s Macaroni Grill
2.   McCormick & Schmick’s      7.    Wild Olives          12.   Houston’s Restaurant   17.   Maggiano’s Little Italy   22.   Hooters
3.   PF Chang China Bistro      8.    Sushi Ray            13.   Copper Canyon Grill    18.   Legal Sea Foods           23.   Stir Crazy
4.   Mortons Steakhouse         9.    Brewzzi’s            14.   Blue Martini           19.   Cheesecake Factory        24.   Chilli’s
5.   Roccos Tacos               10.   New York Prime       15.   Capital Grille         20.   Abe & Louie’s             25.   Red The Steakhouse (coming soon)
                                          Other Hotels Close By:
1.   Wyndham Garden Hotel                      Hilton Suites --Glades Road
2.   Renaissance Boca Raton Hotel              Boca Raton Plaza Hotel --N. Federal Highway
3.   Boca Raton Marriott at Boca Center        Hampton Inn --Yamato Road
4.   Courtyard Boca Raton                      Royal Palm Palace --Mizner Blvd.
5.   Fairfield Inn & Suites Boca Raton         Luxury Resorts --E. Camino Real
                                                                                                   1.    Prudential Financial Services    17.   Wien Securities Corporation

                                                                                                   2.    TD Ameritrade                    18.   Travelex

                                                                                                   3.    Wells Fargo Advisors             19.   Ten Golden Rules

                                                                                                   4.    Intercontinental Capital Group   20.   Raymond James

                                                                                                                                                Wall Street Money Center
                                                                                                   5.    NASD Dispute Resolution Inc.     21.

                                                                                                         Financial Industry Regulatory
                                                                                                   6.                                     22.   GE Capital
                                                                                                         Authority (FINRA)

                                                                                                         Merrill Lynch Wealth
                                                                                                   7.                                     23.   Sierra Equity Group, Ltd.

                                                                                                   8.    Sun Capital Partners             24.   Broker Portfolio System

                                                                                                   9.    E Property Solutions             25.   Janney Montgomery Scott

                                                                                                   10.   Mercator Asset Mgt. Co           26.   Fidelity Investments

                                                                                                   11.   New Bridge Securities            27.   GMS Group LLC

                                                                                                   12.   UBS PaineWebber Inc.             28.   American Express

                                                                                                         Securities and Exchange
                                                                                                   13.                                    29.   Ameriprise Financial
                                                                                                         Commission (SEC)
1.   Wells Fargo                     7.    Bank of America                 13.   Chase Bank
                                                                                                   14.   Morgan Stanley Smith Barney      30.   Northern Trust
2.   Bank Leumi USA                  8.    Regions Bank                    14.   Bank Atlantic

3.   Comerica Bank                   9.    RBC Bank                        15.   Bank of America   15.   B & T Securities Inc.            31.   vFinance Investments Inc.

4.   Seaside National Bank & Trust   10.   City National Bank of Florida   16.   BB & T Bank       16.   UBS Financial Services
5.   Sabadell United Bank            11.   Legacy Bank                     17.   Metrolife Bank

6.   Bank of New York Mellon         12.   AM Trust Bank
Greater Boca Raton is in the southeast corner of Palm Beach County and is
characterized as an affluent city, boasting impressive household income
statistics and the second highest average home price in the county. The city
is roughly equidistant to the central business districts and airports in West
Palm Beach and Ft. Lauderdale, and has easy access to two of the state’s most
transited highways. These attributes, along with a solid supply of both
executive and workforce housing, has made Boca Raton the destination of
choice for regional corporate headquarters. Today, the city boasts by far the
largest office market in Palm Beach County with a long list of notable
corporate citizens including, IBM, Merck, Siemens, Motorola, ADT, and
Office Depot, among others.
                                                                                Boca Raton is considered one of Florida’s most desirable
                                                                                markets – both from a residential and commercial
  Boca Raton Demographics
                                                                                standpoint – and has evolved into a densely populated
  Population                                                                    city that has been forced to grow vertically over the last
  2015 Projection                        79,767                                 decade to accommodate its growth. The city is
  2010 Estimate                          77,125                                 characterized by a large upper-income population
                                                                                housed in a wide assortment of residential
  2010 Median Housing Value              $361,892
                                                                                communities, from planned single and multifamily
  2010 Est. Avg. HH Income               $121,164                               developments to gated golf course estate homes to hi-
  2010 Est. Median HH Income             $72,880                                rise oceanfront condominiums. Despite its infill nature,
                                                                                moderate population growth is projected to continue
  Source: Claritas
                                                                                for the foreseeable future on small tracts of land located
                                                                                to the extreme north and west of the city’s boundaries.
Boca Raton has evolved from a wealthy residential enclave into one of South Florida’s primary employment centers with over 15.3
million square feet of office space. The majority of this space is occupied by companies in the service and retail sector with a heavy
weight towards technology, finance, and tourism related companies. The city also boasts a large concentration of hotel and resort
facilities to accommodate the millions of visitors that descend there each year.

The city is also home to two universities, Florida Atlantic and Lynn, which in aggregate total over 30,000 students and are each
located within a mile of The Fountains. The combination of a major office market, significant hospitality sector, and strong student
community, makes Boca Raton one of the most active daytime population centers in South Florida.

To service its affluent resident base and strong commercial and tourism industries, Boca Raton’s retail industry has had to keep pace.
The market is anchored by the 1.8 million square foot regional mall, Town Center at Boca Raton. This impressive retail icon grosses
over $900 per square foot which places it within the highest volume malls in the state. In addition to the mall, the retail market
contains over 4.4 million square feet of some of the most productive shopping centers in the country.
Boca Raton Executive Airport - In 1936, the Boca Raton Airport was a         Boca Raton Regional Hospital is a voluntary, not-for-profit
small City Airport. During World War II, the mild winter climate and         tertiary medical center built by the community and founded in
the flat terrain of South Florida marked the areas as ideal for flying and   the year 1967 to serve the residents of Southern Palm Beach
aviation training. Thus, three major air bases, one of them being this       County. This health care organization with more than 700
one in Boca Raton, were developed. In 1983, the Land Lease became            primary and specialty physicians on staff provides preventative
effective from the State of Florida Board of Trustees to the Boca Raton      and acute hospital care. Generous community support has
Airport Authority. With 3,000 arrivals and departures monthly, this          enabled Boca Raton Regional Hospital to maintain its high
now publicly-owned airport has two full service Fixed Based Operators        quality, compassionate medical care for nearly 40 years.
(FBO), Avitat Boca Raton and Boca Aviation. In 2011 Boca Aviation was        Specialties include but are not limited to emergency services,
ranked # 9 on Professional Pilots PRASE Survey for USA FBO’s, and            oncology, clinical research, cardiology, women’s health,
Avitat Boca Raton was ranked #22 on the Top FBOs in the Americas by          radiology, orthopedics, neuroscience, wound care, cardio-
Aviation International News. The Burton D. Morgan School of                  pulmonary and out-patient rehabilitation. Boca Raton Regional
Aeronautic of Lynn University and a flight training school are also          Hospital has evolved from a capable community hospital into
located at the airport.                                                      one of the preeminent medical centers in Florida.
Boca Raton Airport is located two miles (3 km) northwest of the central
business district of Boca Raton, Florida, being immediately adjacent to
Florida Atlantic University and to Interstate 95.
• According to the 2010 Census, Palm Beach County has a base population of
  1,320,134, making it the third largest county in Florida. About 55% of Palm Beach
  County residents live in one of 38 municipalities, the remaining 587,844 living in
  unincorporated areas.
                                                                                        Labor Force                       618,694
• The three major multibillion-dollar industries in Palm Beach County are tourism,
  construction and agriculture. There are also many high-tech industries such as        Total Employment (Civilian)       546,255
  bioscience that contribute to the growing economy.                                    Average Unemployment              11.7%

• Tourism accounts for more than 53,530 jobs in Palm Beach County; in excess of 7       Per Capita Income (2009 ACS)      $30,992
  percent of the county’s workforce earns a living from tourism-related businesses
                                                                                        Median Household Income (2009     $49,580
  such as hotels, restaurants, stores and transportation services and others.
• According to Enterprise Florida, Palm Beach County had the state’s highest per        Median Family Income (2009 ACS)   $60,222
  capital annual income, $55,311, compared with a statewide average of $36,720.

• Palm Beach County is the only county in Florida awarded “AAA” bond ratings by         Poverty Rate (2009 ACS)           14.4%
  Fitch, Moody’s and Standard & Poor’s.                                                 Florida Price Index (FPI)*        103.55 (1st in
• Florida’s Enterprise Zone Program provides tax incentives to businesses located
  within or hiring from within the zones. The state currently has 19 enterprise zones
  with two in Palm Beach County.

• Palm Beach County’s Office of Small Business Assistance maintains a banking
  consortium with local lenders to make millions of dollars in low-interest loans
  available for small businesses.
   Source: pbcgov.com
                                           BOCA RATON AND PALM BEACH COUNTY DEMOGRAPHICS
                                                                                                         Palm Beach
Description                            Boca Raton      %   3-Mile Radius      %   5-Mile Radius      %     County       %
2015 Projection                          79,767               88,155                 238,515              1,380,178
2010 Estimate                            77,125               86,588                 232,087              1,295,808
2000 Census                              74,764               87,358                 228,052              1,131,184
Growth 2010-2015                         3.43%                1.81%                   2.77%                 6.51%
Growth 2000-2010                         3.16%                -0.88%                  1.57%                14.55%
Growth 1990-2000                         21.76%               19.96%                 22.76%                31.00%
2010 Est. Average Age                     44.20                44.90                  48.00                 43.20
2015 Projection                          33,826               38,395                 109,971              563,594
2010 Estimate                            32,776               37,711                 107,243              532,196
2000 Census                              31,848               38,340                 106,831              474,175
Growth 2010-2015                         3.20%                1.81%                   2.54%                5.90%
Growth 2000-2010                         2.91%                -1.64%                  0.39%               12.24%
Growth 1990-2000                         21.23%               23.01%                 23.78%               29.71%
2010 Est. Average Household Income      $121,164             $107,544                $92,684              $81,227

2010 Est. Median Household Income       $72,880               $70,148                $59,731              $56,060

2010 Est. Per Capita Income             $52,214               $47,652                $43,262              $33,618

2010 Est. Pop 16+ by Occupation          36,917               40,930                 99,391               568,189
Blue Collar                              3,482      9.4       3,637        8.9       11,772       11.8    96,120      16.9
White Collar                             27,412     74.3      30,724       75.1      70,571       71.0    350,016     61.6
Service and Farm                         6,023      16.3      6,569        16.1      17,048       17.2    122,053     21.5
2010 Est. Tenure of Occupied Housing     32,776               37,711                 107,243              532,196
Owner Occupied                           23,990     73.2      25,746                 79,598       74.2    391,927     73.6
Renter Occupied                          8,786      26.8      11,965                 27,645       25.8    140,269     26.4
2010 Est. Median All Owner-Occupied     $361,892             $296,682               $233,682              $207,333
Housing Value

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