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

Anthony Cameratta, P.E. Vice President Operations

September 13, 2018

Presentation to: Real Estate Investment Society (REIS)

CURRENT & FUTURE TRENDS IN RURAL DEVELOPMENT IN LEE COUNTY

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

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THE PLACE AT CORKSCREW

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Wildlife and Preservation Corridor

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Original Approved zoning was for 770 units with an 18 hole golf course.

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We actually built 441 units WITHOUT a golf course.

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Total project area is 510 acres, nearly 60% put into Conservation

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RECORDED Conservation Easements for approximately 300 acres which were restored and now maintained by the 441 residents in perpetuity

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Provided a more desirable wildlife corridor and surface water flow way, which will provide the new crossing and connectivity to the future WildBlue.

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Reduced total irrigated area and groundwater needs by eliminating golf course

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Helps maintain surface and groundwater levels

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Reuse water is being used as much as possible for irrigation supplementation

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Littoral shelves, marshes, and other wildlife & water quality beneficial areas were created.

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Annually generates approximately $2.8 million in tax revenue

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CREW Land CREW Land

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1st 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

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Eliminated cattle grazing with NO pretreatment into lake/public water supply

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Cleaned up abandoned mine site of scattered trash, removed exotics, and completed shoreline restoration.

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Reduced the potential development footprint including roads and single family lots

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RECORDED Conservation Easements for approximately 114 acres of restored wetlands and uplands to be maintained by the 648 residents in perpetuity

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Increased conservation lands abutting CREW

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Reduced total irrigated area and complete control on timing and duration of irrigation

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Eliminated 254 individual self-supply wells and septic systems

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Maintains surface and groundwater levels

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Littoral shelves, marshes, and other wildlife & water quality beneficial areas were created

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Ground and Surface water quality testing in Perpetuity, NO testing done prior to development

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Annually generates approximately $4.9 million in tax revenue

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2020 Land

Airport Mitigation Land Golf Course

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

Eliminated cattle grazing and farming operations upgradient of public supply wells

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Cleanup of site including trash and removal of exotics

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Formally plug/abandon/seal (30) groundwater wells ranging from 2” to 16” in diameter and 15ft to 900ft deep.

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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

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Increase in conservation lands abutting Airport Mitigation Park to the north and Wetland Mitigation Bank to the east.

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Reduces total irrigated area, total irrigated quantity, and complete control on timing and duration of irrigation

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Eliminated potentially 130 individual self-supply wells and septic systems, allowable under previous Comp Plan

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Helps maintain/improve surface and groundwater levels

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50% reduction of nitrogen and phosphorus loads discharged compared to predevelopment testing

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Installation of littoral shelves, recreation of three historic flow way marshes, and other wildlife corridors & water quality beneficial areas

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Ground and Surface water quality testing in Perpetuity, NO testing done prior to development

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Approximately 99,500 native trees and 1,778,500 native plants installed in restoration areas.

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Annually generates approximately $8.5 million in tax revenue

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 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.

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 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

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Homes Estimated Taxable Value/Home Estimated Total Taxable Value Annual Property 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 ====== ============= ===========

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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

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Annual Property Taxes – BEFORE DEVELOPMENT Annual Property Taxes – AFTER 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

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BEFORE AFTER

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 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)