Presentation to: Real Estate Investment Society (REIS) CURRENT - PowerPoint PPT Presentation

Presentation to: Real Estate Investment Society (REIS) CURRENT & FUTURE TRENDS IN RURAL DEVELOPMENT IN LEE COUNTY Anthony Cameratta, P.E. Vice President Operations September 13, 2018

1991 – Home-A- Rama People’s Choice Award 1993 – City of Broadview Heights Beautification Award Homestead Master Planned Community 1994 – City of Broadview Heights Beautification Award Country Lakes Master Planned Community 2003 – Entrepreneur of the Year Award 2005 – Family Business of the Year Award 2006 – Family Business of the Year Award 2006 – Helping Hand Award for Boys and Girls Club of America Lee County 2007 – Family Business of the Year Award 2016 – Corkscrew Shores received CBIA Sand Dollar Award 2016 – Department of Community Development and American Planning Association Wins Award for The Place at Corkscrew 2

T HE P LACE AT C ORKSCREW 3

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Wildlife and Preservation Corridor 5

Original Approved zoning was for 770 units with an 18 hole golf course.  We actually built 441 units WITHOUT a golf course.  Total project area is 510 acres, nearly 60% put into Conservation  RECORDED Conservation Easements for approximately 300 acres which were restored and now  maintained by the 441 residents in perpetuity Provided a more desirable wildlife corridor and surface water flow way, which will provide the  new crossing and connectivity to the future WildBlue. Reduced total irrigated area and groundwater needs by eliminating golf course  Helps maintain surface and groundwater levels  Reuse water is being used as much as possible for irrigation supplementation  Littoral shelves, marshes, and other wildlife & water quality beneficial areas were created.  Annually generates approximately $2.8 million in tax revenue  6

CREW Land CREW Land 7

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1 st Overlay in the DR/GR in the Corkscrew Corridor working with Environmental Groups  Original Approved zoning was for 800 units. 648 units were actually permitted Eliminated cattle grazing with NO pretreatment into lake/public water supply  Cleaned up abandoned mine site of scattered trash, removed exotics, and completed shoreline restoration.  Reduced the potential development footprint including roads and single family lots  RECORDED Conservation Easements for approximately 114 acres of restored wetlands and uplands to be  maintained by the 648 residents in perpetuity Increased conservation lands abutting CREW  Reduced total irrigated area and complete control on timing and duration of irrigation  Eliminated 254 individual self-supply wells and septic systems  Maintains surface and groundwater levels  Littoral shelves, marshes, and other wildlife & water quality beneficial areas were created  Ground and Surface water quality testing in Perpetuity, NO testing done prior to development  Annually generates approximately $4.9 million in tax revenue  9

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Airport Mitigation Land Golf Course 2020 Land 11

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Eliminated cattle grazing and farming operations upgradient of public supply wells  Cleanup of site including trash and removal of exotics  Formally plug/abandon/seal (30) groundwater wells ranging from 2” to 16” in diameter and 15ft to 900ft deep.  Reduced development footprint including roads, RECORDED Conservation Easement for 752 acres of the 1,361 acres,  which are being restored and will be maintained by the 1,325 residents in perpetuity Increase in conservation lands abutting Airport Mitigation Park to the north and Wetland Mitigation Bank to the east.  Reduces total irrigated area, total irrigated quantity, and complete control on timing and duration of irrigation  Eliminated potentially 130 individual self-supply wells and septic systems, allowable under previous Comp Plan  Helps maintain/improve surface and groundwater levels  50% reduction of nitrogen and phosphorus loads discharged compared to predevelopment testing  Installation of littoral shelves, recreation of three historic flow way marshes, and other wildlife corridors & water  quality beneficial areas Ground and Surface water quality testing in Perpetuity, NO testing done prior to development  Approximately 99,500 native trees and 1,778,500 native plants installed in restoration areas.  Annually generates approximately $8.5 million in tax revenue  13

 Site is typically cleared already  Wetlands are typically well defined due to continued farming on site  Groundwater resources, geology/soils, typically well understood  Agricultural Tax Exemption typically in place or easily obtained  Reduces risk of soil contamination due to the use of chemicals  Reduce groundwater withdrawal  Provides a method to place lands in conservation easements with maintenance responsibilities in perpetuity, at NO cost to tax payers.  BIGGEST REASON FOR DEVELOPING RURAL LANDS IS FEDERAL REGULATION TIME FRAMES FOR PERMITS – SAME TIME FRAME FOR 20 ACRE PROPERTY AS 1,000 ACRE PROPERTY  Larger tracts of land available versus smaller infill projects  The smaller infill projects require the same 1-2 years of permitting as a large property. 14

 Environmental issues more likely to exist  Misc. trash throughout the property which relates to cleanup costs  Termination of Oil/Gas/Mineral rights leases  Educating the local community of the benefits  Limited availability of potable water and sewer 15

Estimated Taxable Estimated Total Annual Property Homes Value/Home Taxable Value Taxes The Preserve at Corkscrew 441 $400,000 $176,400,000 $2,810,000 Corkscrew Shores 648 $475,000 $307,800,000 $4,910,000 The Place at Corkscrew 1,325 $400,000 $530,000,000 $8,450,000 -------- ------------------- ----------------- Total 2,414 $1,014,200,000 $16,170,000 ====== ============= =========== 16

Breakdown of Annual Property Taxes Lee County Schools $7,520,000 Lee County Library $600,000 SFL Water Mgmt $390,000 Lee County General Revenue $4,210,000 Fire $2,220,000 Other Lee County $1,230,000 ----------------- Annual Property Tax Revenue $16,170,000 =========== 17

Annual Property Annual Property Taxes – Taxes – BEFORE AFTER DEVELOPMENT DEVELOPMENT The Preserve at Corkscrew $140,000 $2,810,000 Corkscrew Shores $110,000 $4,910,000 The Place at Corkscrew $30,000 $8,450,000 ----------------- ----------------- $280,000 $16,170,000 =========== =========== BEFORE AFTER 18

 SIGNIFICANT INCREASE IN TAX REVENUE FOR THE COUNTY  LARGER PROJECTS EQUALS MORE JOBS IN THE COUNTY  SIGNIFICANT IMPROVEMENTS TO UTILITIES, ROADWAYS, EMS/FIRE, SCHOOLS, ETC…  SIGNIFICANT REDUCTION and/or IMPROVEMENTS TO ENVIRONMENTAL IMPACTS INCLUDING:  WILDLIFE HABITAT (Clearing of exotics & Planting of native plants)  WATER QUALITY (Reduction of nutrients that feed algae blooms)  WATER QUANTITY (Reduction in discharge of surface water which protects from flooding and reduction in groundwater usage for irrigation than historically used for farming) 19