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Agenda 10/10/2017 Item #11C10/10/2017 EXECUTIVE SUMMARY Recommendation to reject offer from Winchester Lakes Corporation and Francis and Mary Hussey to enter into a public-private partnership with the County for the property located in Sections 29 and 32, Township 49S, Range 27E. (Toni Mott, Manager - Property Acquisition & Construction Management, Facilities Management Division) OBJECTIVE: To provide relevant information regarding offer received from Winchester Lakes Corporation and Francis and Mary Hussey (Seller) for the sale of 962 +/- acres (known as HHH Ranch) located three miles east of Collier Boulevard and directly north of Alligator Alley and to recommend that the offer be rejected at the current sales price of $75,000,000, inclusive of a public-private partnership. CONSIDERATION: On May 8, 2017, an email and prospectus was received from Joseph Bonness, President of Winchester Lakes Corporation on behalf of that corporation and Dr. and Mrs. Hussey. A copy of the email and the prospectus is attached. The potential offer for sale was not contingent upon a public-private partnership between Collier County and Winchester Lakes for mining activities. At that time, no purchase price was provided. At the May 23, 2017 Board meeting, staff was provided direction under Agenda Item 11D to obtain two appraisals and also evaluate the public-private partnership proposal. The details of the partnership are as follows: Collier County could either wholly or partially pay for the purchase of the HHH Ranch. Winchester Lakes, Inc. would enter into an excavation/Partnership agreement with the County to: o Require the County to have all permits in place necessary for mining. o Excavate a minimum of 125 acres of property producing 10 million tons of fill and lime rock materials. o Provide a royalty or lease for all materials sold to Collier County as payment for the excavation. o Establish their exclusive rights to excavation and sublease plant sites for Asphalt, Concrete and Recycling plants. o Sale of the materials from the excavation and manufacturing plants would produce lease payments to pay for the land purchase. o Sever Transfer of Development Rights (TDR) and be retained by the Seller (approximate savings to purchase price $3,926,000) o Potential future expansion of mining area. A self-managed team was convened to complete a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis on the proposal to explore the pros and cons of such an acquisition. At the June 12, 2017, Conservation Collier Land Acquisition Advisory Committee, the committee received a property nomination involving the property with an approximate asking price of $75,000,000. The Committee unanimously agreed to move the application forward in the process. Based on Board direction, two appraisals were commissioned from Maxwell-Hendry-Simmons Real Estate Appraisers & Consultants and Carlson, Norris and Associates, Inc. Both prepared a valuation and determined a fair market valuation of $8,200,000 for the land value. Copies of the valuation report are attached for Board review. In addition to the land value, Collier County’s In-House Real Estate Appraiser prepared valued the mining component at $25,480,000 at a drilling depth of 35 feet, which includes the value of the land. A second mining valuation in the amount of $39,600,000 was derived from the income approach. Copies of the valuations are attached for reference. The valuations didn’t provide an adjustment for or take into consideration the cost of mitigation required for the development of the property or remediation that may be necessary due to the clearing that has occurred for the agricultural uses. Additionally, the comparable properties used in the appraisal consisted of lands that have varying 10/10/2017 degrees of environmental and development permits and approvals in place. By comparison, the subject property has no permits in place. Acquisition of the property could provide a number of future public benefits such as a source for road material and fill for future projects for Collier County as well as the Fl orida Department of Transportation or other unidentified County uses. In addition to the potential use of the fill material, etc. from the northern portion of the property, there may be a potential to utilize the Sending Lands portion for on -site mitigation as an offset to the overall mitigattion costs, or possibly the permitting of the property as a listed species mitigation bank that could also benefit County projects. Investigation of these potentials would require additional funding and time to determine. However, the requested sales price does not appear to take into account the potential for costs associated with environmental mitigation and/or remediation and obtaining the necessary development permits - which includes at a minimum conditional use approval through a public hearing process. With no entitlements or permits in place, any buyer must consider the cost, and uncertainty, of obtaining these permits. Furthermore, obtaining permits will take a considerable amount of time and the property lacks infrastructure necessary for development (roads, water, sewer, electric, etc.). Based on current funding and the high cost of entitlements for any future development of the property, and uncertainty in obtaining entitlements for commercial excavation, staff believes the purchase price of $75,000,000, or combination of public-private partnership to come to the amount requested by the seller, is too high. Based on the delta between the proposal and the appraisals, staff is recommending the offer be rejected. Future needs by transportation or other county departments may warrant further analysis should the sales price be adjusted downward accordingly. Note: Staff did not have the authority to enter into negotiations or make a counter offer. Staff is recommending rejecting this offer as submitted but does recognize that under the right conditions and terms, acquiring this property may add value and support the County's goals and objectives. FISCAL IMPACT: There is no fiscal impact associated with this item. GROWTH MANAGEMENT IMPACT: No growth management impact associated with this item. LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney, raises no legal issues, and requires majority vote for approval. -JAK RECOMMENDATION: That the Board rejects the offer and authorizes the County Manager or his designee to notify the Seller that acquisition in total at the requested price or public -private partnership is not supported by available data at this time. PREPARED BY: Trinity Scott, Capital Project Planning, Impact Fees and Program Management Division, Growth Management Department ATTACHMENT(S) 1. HHH Prospectus - May 8 2017 (PDF) 2. SWOT Analysis (002) (PPTX) 3. [Linked]Maxwell Hendry appraisal (PDF) 4. [Linked]Carlson Norris Appraisal (PDF) 5. [Linked]In-house appraiser Hussey 962 acres (PDF) 6. LOCATION MAP (DOCX) 10/10/2017 COLLIER COUNTY Board of County Commissioners Item Number: 11.C Doc ID: 3811 Item Summary: Recommendation to reject offer from Winchester Lakes Corporation and Francis and Mary Hussey to enter into a public private partnership with the County for the property located in Sections 29 and 32, Township 49S, Range 27E. (Toni Mott, Manager – Property Acquisition & Construction Management, Facilities Management Division) Meeting Date: 10/10/2017 Prepared by: Title: Manager - Property Acquisition & Const M – Facilities Management Name: Toni Mott 09/27/2017 3:45 PM Submitted by: Title: Division Director - Facilities Mgmt – Facilities Management Name: Dennis Linguidi 09/27/2017 3:45 PM Approved By: Review: Facilities Management Dennis Linguidi Additional Reviewer Completed 09/27/2017 4:51 PM Public Utilities Department Margie Hapke Level 1 Division Reviewer Completed 09/28/2017 10:32 AM Public Utilities Department Heather Bustos Additional Reviewer Skipped 09/28/2017 1:51 PM Solid and Hazardous Waste Dan Rodriguez Additional Reviewer Completed 09/28/2017 2:12 PM Public Utilities Operations Support Joseph Bellone Additional Reviewer Completed 09/29/2017 10:34 AM Public Utilities Department Margie Hapke Additional Reviewer Completed 09/29/2017 10:56 AM Public Utilities Department Heather Bustos Level 2 Division Administrator Review Skipped 09/29/2017 12:08 PM County Attorney's Office Jennifer Belpedio Level 2 Attorney of Record Review Completed 09/29/2017 3:19 PM County Attorney's Office Scott Teach Level 3 County Attorney's Office Review Completed 09/29/2017 3:35 PM Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 10/02/2017 11:04 AM Budget and Management Office Mark Isackson Additional Reviewer Completed 10/02/2017 11:46 AM County Manager's Office Nick Casalanguida Level 4 County Manager Review Completed 10/02/2017 4:09 PM Board of County Commissioners MaryJo Brock Meeting Pending 10/10/2017 9:00 AM MottToni From: Joe Bonness lll <JoeBonnesslll@betterroads.net> Sent: Monday, May 8, 2017 '10:52 AMTo: MottToniSubject: HHH proposalA$achments: HHH Ranch park.pptx Dear Toni The HHH Ranch is proposed to be purchased by Collier County for quarry and future park use. The land is located three miles east of Collier Blvd and directly north of Alligator Alley. HHH Ranch is composed of 962+/- acres with 578 acres designated as RFMUD Receiving Lands and 384 acres RFMUD Sending lands. The land designation is the results of a settlement a8reement between Collier County defendant and Francis & Mary Pat Hussey and Winchester Lakes lnc. as Plaintiffs. It is envisioned that Collier County could purchase the ranch and the purchase repaid by excavation of portions of the receiving land by Winchester Lakes lnc. The ranch has a vast reserve of high quality lime stone that will produce FDOT quality aggregates and base rock materials. Mined to the maximum extent (80% coverage) could produce over 37 million cubic yards (50 million tons) of material. As owners of the Ranch Collier County would make the decision of what will be the best ratio of excavated lake to residual park lands. Of benefit to the County is securing materials that wlll be needed for infrastructure construction in the future and residual lands will provide a lake based park. The Ranch is closely located to major traffic corridors (951 & l-75) and will be on future a long range plan corridor (Wilson Ext). The lake or lakes will provide recreation, flood water storage as well as reservoir for water recharge and usage. The lake will also be a wild life attractor. During the recent North Belle Mead wild fire, the Ranch and cleared pastures provided a dearly needed fire break that helped deaden the fast moving wild fires from the east. A large body of water will provide this buffer in the future with this proposa l. The Ranch has habitat for endangered species such as RCWS, Panthers and Gopher Tortoise that Collier would preserve and enhance. The park land outside of mine lake will contain 500-700 or more acres. Lake size is dependent on design. The land is repaid by a combination of Mine Royalties, Plant Site Leases and TDRS 20 - 50 million tons Royalties 10- 25 million ton/cy product from plant sites 307 TDRs Alternate uses and value of the land is for mininB and housing development lf you need further explanation please call Joe Bonness 239 825 4821 EXHIBr B_HHHRmhR″‐鸞 ―sl. 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NORTH BELLE MEAD圧 SPECIAL USE AREA SUBD:STRICT COLLIER COUNttY GROWTH MANACEMENtt PLAN AMENDMENT FUTURE LAND UStt ELEMENT LOCATED IN SECT10N 29, 51 AND 32, TOWNSHIP 49, RANCE 27 COLLIER COUNTY, FLORIDA COt●EN GAT DuttARO フ87 1498 ≧ 営 19 田 21 1 Su"EC SrrE ノ ALL:0人 ToR GATE PARKWA ヾ・輸 5, ヽ 32 ●R3Sl62,ヽLに Y lsに 841 LOCAT10N MAP ― Z― レ■■|ャi EXHIBI「B‐HHH―h扇 ving回3 1. Wimnわ “ m2R Tom血 ip 49,Ranr 27;p_1“ 0028560002 294927E12 0FSE1/4,NWir40F SE 1/4,E12 0FSW i/4 0F SE1/4,NW i/4 0F SWir4 0F SE lr4,N12 0F SE lr4 0F SW i/4,NE 1/4oFSW i/4,E1/2 0F NW ir4 0FSW 1/4,SW i/4SE 1/4SW14 W1/2 0F SE】r40FSE1/40F SW i/4,SE 1/4 0F SWir4 0F S1/1r4,E12 0FSW 1/40FSW 1/4 0F SE1/4, 00331320000 29 49 27 SElた OF SElr4 0F NElr4 00330480002 294927E12 0FSW1/4 0FSWi“OF NE1/4 0028640003 294927B12 0F SE1/4 0FSE14 0F NW1/4+W12 oFSWi/4 0FSWi/40F NE1/4 00329240004 294927W12 0F SlV1/4 0F SW174 0F SElr4 5 AC.OR 1342 PG H29 00330040008 294927B12 0F SE1/4 0F SElr4 0F SW1/45AC.OR 1342 PG 969‐970 2. 熊 Nonem 279acm of隣 濁bn32 ToR3bip49 Щ 晦 27 Engt E)fiIBIT B - HHH Rrach Scadiog l^rd! l. Ttc SoutlEm 3?5 sts of Soction 32, Toumhip 49 Souh, Rng! 2? Erst, lcsr and €ficapt rrry lnds that wat prvirxrsly trlcn for highrmy riglrr of rrry.- 260 acres 21 million cy 320 acres Receiving Land heavy park use 「卜1 1FFTT口 「 甲口鳳暉鷹■■電 『 I F5 Introduction Strengths, Weaknesses, Opportunities, & Threats Strengths •Advantages of this project vs others Weaknesses •Disadvantages of this project vs others Opportunities •Elements that can be exploited as an advantage Threats •Risks and mitigating factors SWOT ANALYSIS –HUSSEY EVALUATION FOR POTENTIAL ACQUISITION Helpful to achieving the objective Harmful to achieving the objective Internal to Organization S Strengths W Weaknesses •Acreage available for multiple county uses (once in a lifetime chance to acquire a large tract of land from single owner) •Future source for road material and fill •Severing the TDR credits could allow for a reduced purchase price •Revenue source for excess material (i.e. sand & limestone) •Monitored wildlife refuge •Public / Private Partnership (i.e. mining royalties) •Potential future access for haul road •Potential source for landfill cover •Obtaining a CU for mining (including blasting) •Lengthy process in obtaining required permits (i.e. ACOE, SFWMD, DEP, FLFWC/USFWC, GMD) •Substantial permit fees •Cost associated with mitigating the site •20-30 year time frame before have the ability to fully utilize the entire site •Future permitted uses are not typically governmental (primary focus on housing) •Location may be of limited use for providing governmental services to constituents •No existing infrastructure (water, sewer, etc.) •Haul road may hamper roadway concurrency •Too expensive (can’t substantiate nexus between appraisals and offering price) External to Organization O Opportunities T Threats •Land could be use for housing that is affordable •Potential ATV site •Possibility to supply road material for FDOT and other commercial entities •Could provide land for public recreational facilities •Potential employment and business opportunities to support commercial and housing activities •Consulting opportunities for required zoning & planning •Increased truck traffic on surrounding neighborhood roads •Public opposition to mining and potential disturbing of existing environmental species •Legal, safety, & risk mgmt. concerns (i.e. potential blasting impacts to surrounding improved properties) •Potential opposition from existing mining operations •Additional wear and tear on County-maintained roads •Potential noise pollution •OGM rights ownership unknown •Fill quality will need verification/confirmation SWOT ANALYSIS –HUSSEY EVALUATION FOR POTENTIAL ACQUISITON ,MAXWELL HENDRY SIMMONS real estate appraisers & consultants AopraisalReport Vacant Land Located in Sections 29,32, Township 49S, Range 27E Collier County, Florida Date of Valuation: 76 June 2077 Date of Report: t8 )uly 2oL7 File Name: 17066001 - HHH Ranch Prepared For Collier County Board of County Commissioners Attn: Facilities Management 3335 TamiamiTrail East, Suite 101 Naples, Ftorida 34L12-5356 I nfo@M HSappraieal.com(239, 337.O555 MHsappraical.com 12600 Wodd Plaza Lane. Building #63 Fort Myers. FL 33907 MAXWELL HENDRY SIMMONS real estate appraisers & consultants ■8 July 20■7Collier County Board of County Commissioners Attn: Facilities Management 3335 Tamiami Trail East, Suite 101 Naples, Florida 341t2-5356 Attention: lVr. Roosevelt Leonard, R/W-AC, Senior Review Appraiser Re: Appraisal ofa9621 acre parcel known as "HHH Ranch" in Collier County, Florida PO#: 4500178485 File Name: 1706001 - HHH Ranch Dear Mr. Leonard: As you requested, an appraisal has been made of the above property, which is legally described in the attached report. This letter is an integral part of, and inseparable from, this report. The purpose of the appraisal is to arrive at an opinion of market value of the subject property in its "as-is' condition. The interest being appraised is the undivided fee simple interest in the land as if otherwise free and clear of all liens, mortgages, encumbrances, and/or encroachments. The intended use of this appraisal is to establish a basis of value for a possible acquisition of the subject property. The intended user of this report is Collier County Board of County Commissioners. The subject property was inspected on 16 June 2017 by Gerald A. Hendry, MAl, CCIM. This appraisal report is intended to conform to the Uniform Standards of Professional Appraisal Practice & the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal lnstitute. This appraisal is made subject to the Assumptions and Conditions contained in the body of this report. Based upon the results of the analysis and the data contained in the attached appraisal report, including any Extraordinary Assumptions and Hypothetical Conditions outlined, and our experience in the real estate appraisal profession, it is our opinion that the "as is" market value of the fee simple interest in the subject property as of 16 June 2017 is EIGHT MILLION TWO HUNDRED THOUSAND DOLLARS . $8,2OO,OOO This value is contingent upon the certification and assumptions and conditions of this appraisal. Respectfully submitted, Gerald A Hendry,MAI,CCIM StateCertified General Real Estate Appraiser RZ 2245 好 Tnele or CoNTENTS SEC LINTRODuCT10N .¨ ¨ ¨¨ ¨ ・・ ¨ ・・¨ ・ ¨ ¨ ■ SEC IL SCOPE OF WORK …….. … … … … …………・・・・・・ ¨・・・¨・・・・・・・・・… ・… … …… 。・……・・・4 ExTENT OF PROPERTY IDENTIFICAT10N ¨¨¨¨¨¨ ¨¨¨¨¨¨¨¨¨¨¨ ¨¨¨¨ ¨¨¨¨¨¨¨¨¨¨¨¨¨ ¨¨……… …… ……… …… …4ExTENT OF INSPECT10N ¨ ¨ ¨¨ ¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨ ¨………… … ……… …… … 4 TYPE AND ExTENT OF DATA RESEARCH¨¨¨¨¨¨¨¨¨¨¨¨¨¨… … … … … … … … …… ……… …… … 4 TYPE AND ExTENT OF ANALYSIS¨ ¨… … ……………………………………………………… ………………………………………………………… … …4AssuMPT oNS … …… …… ¨¨¨¨¨ ¨ ¨¨¨¨… … …… … ………… …… …… … … …… ……… ………… … 6 -― ExTRAORDINARY AssuMPT ONS ¨ ¨ ¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨6HYPOTHETICAL CONDIT10NS ¨¨ ¨¨ ¨¨¨¨¨¨¨¨¨¨… … … …………………………………… ………………………… ………………………… …………… 7 SEC ∥|:MARKET AREA ANALYSIS .. ... . . ・ ・ ・ ・ …… 8 SOuTHWEST FLoRIDA/COこ L ER COUNTY DATA ¨¨¨¨… … … …………………………………… …………………… ………………………………………………9COMPETlTlV[MARKET AREA…………………………………………………………………………………………………………………16 SEC IV:PROPERTY DESCRIPT10N ¨ ¨ ¨ ¨¨ ¨ ¨¨ ¨ ¨ ¨ ¨¨ ¨ ¨ 27 AER AL MAPS …………………………………………………………¨¨ ¨ ¨ ¨ ¨¨¨¨ 28 AERTAL DEprcTrNG RFMU - REcErvtNG LANDS AND SENDTNG LANDS .......................... ..................... 29 CoNcEpruAL StrE PLAN CoN4PLETED By RWA ENGTNEERTNG Assu[4tNG 342 UNrTS ...... .................... 34 CoNcEpruAL PLAN CoMPLETED By RWA ENGTNEERTNG AssuMrNG 578 UNrrs .............. ................... 35 CoNcEpruAL SrrE PLAN CoMPLETED By RWA ENGTNEERTNG Assu[4tNG A RURAL VTLLAGE wtrH 852 UNtrs ........................ 36 SURVEY FROM LAND SOLUTIoNS, INc. MARKETING F1YER............. ........,,,......... 37 LAND DoNATED TO COLLIER COuNTY FOR FuTuRE WILSON 8ouLEVARD ExTENS10N ¨¨…………………………………………………………… ……39 PROPERTY PHOTOGRAPHS¨¨¨¨¨¨¨¨¨ ¨ ¨¨ ……………… … ………………………… ¨¨¨40 PROPERTY CHARACTERISTICS ¨ ¨ ¨ ¨¨ ¨ ¨ ¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨ ¨¨¨¨¨¨¨¨¨¨¨¨………………………… 48 SEC V:HIGHEST&BEST USE ANALYS:S. ¨ .・ ...・ ・ ・ ¨¨ ¨ 57 PRESENT USE………………………………………………………………………………………………………………………………………57 HIGHESTANDBESTUSEAsVACANT………………………………………………………………………………………………………57 SEC VI:VALUAT10N OF SUBJECT PROPERTY ¨ ... . ¨ ¨ ¨¨ ¨ ¨ ¨ ¨.. 6■ THE APPRAISAL PROCESS…… … …… ……………………… ………………………………………………………… … … ………………… …… 6■ 臥ND VALUAT10N(THE SALES COMPARISON APPROACH TO VALUE)¨¨¨¨… … ……………………………………… …………………… … 62 SEC V∥:RECONCILIAT10N OF OPIN:ONS OF VALUE.¨..¨ ¨¨・ LEGAL DESCRlPTtoN..¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨¨… ………… …… … … …… 38 ¨ ¨¨ ¨ ¨ 87 SEC V∥L CERTIFiCAT10N ¨...… … …・・…… ….・ … ・・・・ ¨・・¨・・¨`・ ¨ ¨ ¨89 LAND SALES FoR REcEtvtNG LANDS (SEVERED).......................... .....................g2 QuALrFrcAroNS OF GERALD A. HENDRY, MAt, CCIN4 ........._...... .................... j.L7 EXTRAoRDINARY Assu NrpIloNS / HyporHETtcAL CoN DtloNs ....... ............--....l':ZL SEC.::lNttROD∪Ctt1 0N OWNERS OF RECORD/ TAX:D: The subject property consists of a total of eight folio numbers with the following property owners: Folio#Owner 00328560002 HUSSEY JR,FRANCiS D&MARY P 0033■320006 HUSSEY」R,FRANCIS D&MARY P 00330480002 HUSSEY JR,FRANC:SD&MARY P 00328640003 HUSSEYJR,FRANCiS D&MARY P 00329240004 WINCHESTER LAND LLC 00330840008 SEAN MEADE HUSSEY TRUST 0034■960003 HUSSEY」R,FRANCIS D遷 こMARY P 00342040003 HUSSEY」R,FRANCIS D遷 彊MARY P LEGAL DEScRtPIoN: Lengthy. Please see Property Description section. 962+ acres as per legal description and information from settlement Sre Anea: agreement (Case No.: 08-6933-CA and 08-6988-CA) in the Circuit Court of the 20th Judicial Circuit in and for Collier County, Florida. The subject property has perimeter fencing and some minor improvements including a small h unting camp. Because of the large size of the property (962t IM'R',EMENTS. acres) and the age and condition of these improvements, it is our opinion that any interim use value would be below the rounding threshold used in this appraisal and subsequently would not contribute to the overall value of the subject in an appreciable manner. Rural Agricultural District (A) within overlays of Rural Fringe Mixed Use - Receiving Lands, Rural Fringe Mixed Use - Sending Lands, and North Belle ZoNING: Meade Overlay District (NBMO). The north 578 acres is located within RFMU - Receiving Lands while the south 384 acres is located in the RFMU - Sending Lands. Rural Fringe Mixed Use District - Receiving Lands FUTURE Llr.ro Use: Rural Fringe Mixed Use District - Sending Lands North Belle Meade Overlay HIGHEST&BEST USE: 器 :|」::;』::肥 ∥llalUSe/Recreationa!Use and specu!ative hold for potential DATE OF VALUAT!ON: ■6」une 2017 Dare orrxE Reponr: L8 )uty 2OL7 MAXWELL HENDRY SiMMONS This appraisal is made for the exclusive use of our client, identified as Collier INTENDED UsER: County Board of County Commissioners and its use by others is strictly prohibited. INTENDED USE: The intended use of this appraisal is to establish a basis of value for a possible acquisition of the subject property. VALUEINDICAT10NS: PER AcRE: $8,400,000 VALUE CONSIDERING TDRs: $6,560,000 PER UN!T: $7,7■6,0002 MAXWELL HENDRY S:MMONS N'LY∨IEW ALONG W'LY BORDER OF SUB」ECT W'LY∨lEW ALONG BLACKBURN ROAD」UST EAST OF SUBJECT3 MAXWELL HENDRY SiMMoNS Src. ll: Scopr or Wonrc According to the Uniform Standards of Professional Appraisal Practice (USPAP),2076/ t7 Ed., the Scope of work includes, but is not limited to: . the extent to which the property is identified; . the extent to which tangible property is inspected; . the type and extent of data research; and . the type and extent of analysis applied to arrive at opinions or conclusions. EXTENT oF PRoPERTY IDENTIFICATIoN For this analysis, the subject property was identified via a legal description and research of public records via the internet. For th is appraisa l, reliance was placed primarilyon information provided bythelocal public records, as well as information provided by our client. EXTENT oF INSPECTIoN For the purposes of this appraisal, Gerald A. Hendry, MAl, CCIIV conducted an onsite inspection of the subject property on 76 June 2Ot7. The inspection included an onsite inspection of all of the accessible areas of the subject property. TYPE AND EXTENT oF DATA RESEARCH Data research is regularly conducted using the following sources: . Public Records . Local REALTOR@ Association Multiple Listing Services (M LS)/LoopneVCClM . Marshall Valuation Service/Marshall & Swift Cost Tables/Books o Costar comparables service . lnformation from contractors, brokers, and agents in the area The primary emphasis of the data research concentrated on the subject's market area. Census data, as well as municipal and governmental websites, were utilized in gathering the information analyzed. The time period researched for any sales data encompasses the last few years up until the date of the most current data available. All comparable data is verified with the buyer, seller, or a property representative, unless otherwise indicated. ln the analysis, the selling price, financing, motivation to purchase/sell, and, if applicable, any lease or income/expense information was verified, as of the time of sale. Tvpr Rto ExruNr or ANnlvsts Puroose of the Aooraisal The purpose of this appraisal is to formulate an opinion of the "as is", fee simple, market value of the subject property as if free and clear of all liens, mortgages, encumbrances, and/or encroachments.4MAXWELL HENDRV SiMMONS Condition Appraised ln this analysis, we are estimating the "as is" market value, as defined by the Appraisal lnstitute in lhe Dictionary of Real Estate Appraisal, 6rh Edition, as: The estimate of market value of real property in its curent physical condition, use, and zoning as of the appraisal date. Real Property lnterest Appraised There are primarily two forms of interest to consider when developing an opinion of value of real property. These are defined by The Appraisal lnstitute in The Dictionary of Real Estate Appraisa,, 6th Ed., as follows: Fee simple interest (estate) is: Absolute ownership unencumbered by any other interest or esta te, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat. Leased fee interest is: The ownership interest held by the lessor, which includes the riqht to receive the contract rent specified in the /ease plus the reyersionary riEht when the rease expires. The interest being appraised in this situation is the undivided fee simple interest in the land as if free and clear of all liens, mortgages, encumbrances, andlor encroachments except as may be amended in the body of this report. Value Appraised The opinion of value developed and reported is the market value of the subject property. Market value, as defined by the agencies that regulate financial institutions in the United States and published by 12 CFR Ch. V Paft 564-2 (gl Office of Thrift Supervision, Department of the Treasury, is: fhe most probable p ce that a property should bring in a competitive and open market undet all conditions requisite to a fah sale, the buyer and seller each actin* prudently and knowledgeably, and assumingthe price is not affected by undue stimu/us. lmplicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: a. Buyer and seller are typically motivated.b. Both parties are well informed or well advised, and acting in what they consider their own best interests. c. A reasonable time is allowed for exposure in the open market.d. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; ande. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. Approaches Develooed There are three traditional approaches to the valuation of real property: cost, sales comparison, and lncome.Not all approaches are applicable to every appraisal probtem. As ihe subject of this appraisal is a vacant tractof land, we have utirized the sares comparison Approach to varue. As they are not apiticaotelo 1," prop"nytype, the Cost Approach and lncome Approach have not been utilized.5∥AXWELL HE∥DRY SIMMoNS ReDort TvDe This is an Appraisal Report which is intended to comply with the reporting standards set forth under Standard Rule 2-2(a) of the Uniform Standards of Professional Appraisal Practice (USPAP). ASSUMPTIoNS An Assumption is defined by the Uniform Standards of Appraisal Practice (USPAP),2076/17 Ed., as "that which is taken to be true". Please see Addenda for further details regarding the assumptions utilized in this appraisal. ExtnRonotunnv AssuuprroNs Extraordinary Assumption is defined by the Uniform Standards of Appraisal Practice (USPAP), 2016/ 17 Ed., as "an assumption, directly related to a specific assi9nment, as of the effective date ot the ass,gnment resu/ts, which, if found to be false, could alter the appraiser's opinions ot conclusions." Per USPAP standards, please note that the use of extraordinary assumptions might have affected the assignment results. lt is strongly recommended that the reader thoroughly read the entirety of these assumptions, as they outline the limitations under which this appraisal is developed. . This analysis does not include any consideration for sub-surface rights or any minerals or materials potentially associated with the subject property. . For purposes of this analysis, we have considered the size of the subject property to be 9621 based on the Settlement Agreement (Case No.: 08-6933-CA and 08-6988-CA) and the legal description contained within this Settlement Agreement. The Settlement Agreement includes properties in Section 33. However, our analysis includes only those properties in Sections 29 and 32. Moreover, we have relied upon the agreement for specific rights associated with the subject property which, in some instances, vary from the Land Development Code and GroMh l\4anagement Plan. A copy of the Settlement Agreement may be found in the Addenda to this report. . There are potential cattle, hunting, and timber leases currently on, orformerlyon, the property. These documents have notbeen provided. lt isassumed these potential leases areshortterm (lessthan one year) and would not impact the market value. . We have relied upon information from Collier County Government, Growth N4anagement Department, as well as other departments for the potential dwelling units on the subject property and Transferable Development Rights (TDR) on the subject property. lt is assumed the information contained in this appraisal from Collier County is accurate. Should this information be found to be false, this could alter the opinions and conclusions herein. . lt is assumed the property would have legal access via a 50' right of way on the south side of Section 31, Township 49 South, Range 27 East, owned by Collier County. . No information regarding potential Panther mitigation was available on the property. lt is assumed all of the comparables would have a relatively similar cost upon development for this potential mitigation.6MAXWELL HENDRY SIMMONS … HYPOTHETICAL CONDIT:ONS Hypothetical Condition is defined bythe Uniform Standards ofAppraisal Practice (USPAP), 20L6/ t7 Ed., as "a condition, directly rclated to a specific ass,gnment, which is contrary to what is known by the appraiserto exist on the etfective date of the assignment rcsu,ts, but is used for the puryose of analysis." Per LJSPAP standards, please note that the use of hypothetical conditions might have affected the assignment results. lt is strongly recommended that the reader thoroughly read the entirety of these assumptions, as they outline the limitations under which this appraisal is developed. None applicable. MAXWELL HE∥DRY SIMMoNS SECo Hl:MARKET AREA ANALYSiS ―8MAXWELL HENDRY SIMMONS SoUTHWEST FLoRIDA / CoLLIER CoUNTY DATA Collier County, named for Barron Collier, was created from Lee County in 1923, and is the second largest county in the State of Florida by land area. Collier County is bordered by Miami-Dade Counties to the east and Lee and Hendry Counties to the north. The county's western boundary is the Gulf of Mexico. The county contains a total of 2,025 square miles of land area and 9l square miles of inland water area. Collier County is the second la rgest county east of the Mississippi River and is larger than the States of Rhode lsland and Delaware. The present- day Collier County encompasses 2,305 square miles, with a variety of natural inland, coastal, and barrier island habitats, with approximately 13% of the total area being water. The year-round population is 353,936 as of the 2016 estimates. There are three (3) incorporated municipalities in Collier County as follows: City of Naples: lncorporated in 1949. 74.47 Square Miles. 2070 Population: 79,537. The City of Naples is the county seat of Collier County, as well as being the principal city of the Naples-Marco lsland Metropolitan Statistical Area. The city was originally settled in 1886, with the majority of groMh occurring after the depression and World War ll. The City is home to a number of major employers, as well as non-profit organizations and Fortune 1000 companies. The Fifth Avenue South and Third Street South corridors are considered to be the heart, or "downtown" of the City of Naples, and this area is a popular retail and shopping destination. The City of Naples also features a number of cultural centers and organizations including The Naples Players, the Opera Naples, the Naples Philharmonic, and Theatre Zone Equity Theatre Company, the Naples Jazz Orchestra, the Naples Youth Jazz Orchestra and the Naples Philharmonic Youth Orchestra. City of Marco lslandi lncorporated in 7997. 77.7 Square Miles. 2070 Population: 76,473. originally named San l\4arco lsland by Spanish explorers, Marco lsland is the largest barrier island within Southwest Florida's Ten Thousand lslands area, extending southerly to Cape Sable. The island was purchased in the 192O's by Barron Collier, and was originally incorporated as Collier City in 1927, but was later unincorporated. Marco lsland is generally considered to be a resort destination, and the desirability of real estate coupled with the finite supply, has led to a rapid escalation of property values, which are significantly higher than many other parts of Collier County. City of Everglades: lncorporated 7923. 7.2 Square Miles. 2070 Population: 400. The City of Everglades, known more commonly as Everglades City, is located at the mouth of the Barron River, on Chokoloskee Bay, approximately 32 miles southeast of Naples, near the extreme southeasterly corner of Collier County. With the establishment of the Everglades National Park in 1947, the economy of Everglades City begantoshiftfrom industrial and agriculturalto tourism and eco-tourism. The Everglades National Park visitor's center is located in Everglades City. There are many other unincorporated, yet distinct, communities in Collier County, both rural and suburban in nature. These include Ave Maria, colden Gate, Goodland, Naples Manor, Naples park, lmmokalee, Lely Resort and many others. Collier County is a growing county with many diverse geographical areas and populous communities. Collier County is second only to Lee County as the center of growth and activity for the five (5) county area (Charlotte, Collier, Glades, Hendry, and Lee).9MAXWELL HE∥DRY SIMMoNS There are four basic factors that influence value according to fhe Appraisal of Real Estate, Fourteenth Edition. These factors include: l. !|. :|!. :∨.Social Forces Economic Forces Governmental Forces Environmental Forces Each of the forces interacts, resulting in increases, decreases, or stabilization of property values. As a result, these forces also serve to directly affect the demand for real property in a particular area. The four forces that affect values are described as follows: l. Social Forces Population fluctuation has a significant impact on property values. The chart below demonstrates the change in population between the two most recent decennial Censuses. 2016(EST.) 20■02000 Change Couruw POPULATIoN 353,936 322,653 257,926 +37.22% 1,. htto://www.colliergov. net/you r-govern m ent/d ivisions-a-e/com orehensive-olan n inElpooulation-and-dem ograph ics ll. Economic Forces Economic considerations involve the financial capacity of the inhabitants of a region to rent or own property and properly maintain it. These economic forces may include income levels, unemployment rates, the economic base of a region and the strength of development and construction. 20L7 2016 20L5 201,4 UNEMPLOYMENT RATE■4.5%(February) 4.5%(December) 5.2%(Annual) 5.9%(Annual) AvERAGE WeexrvWecEr N/A $869(3Q)$969(4Q)$89■(4Q) Srrueu-FnutY MEontt PRtcEz $435,000 (May) $408,000 $412,000 $270,000(Annual) (Annual) (Annual) RgrAtVlmNcY Rlres 5.1%(lQ)5.7%(4Q)6.2%(4Q)6.9%(4Q) Ornce VmHCY RATE3 6.4%(lQ)7.2%(4Q)9.3%(4Q)■■■(4Q) !NDUSTR!ALVACANCY RATE3 ■.1%(■Q)■.2%(4Q)2.4%(4Q)6.2%(4Q) NABOR CoStar MAXWELL HENDRY SiMMONS 10 The following is a summary of the residential market in Collier County: Co∥ier County Single Fami:v Market Month Available lnventory Number of Sales Average Marketing Time (DOM) Market Area Median Sales Price Absorption Percentaoe Apr-15 2,253 489 80 $375,000 21 70% May‐15 2,126 425 84 $429,000 19.99% 」un-15 2,092 427 $397,000 2041% 」u卜 15 2,003 354 88 S379,000 17.67% Aug-15 1,985 343 78 $392,000 1728% Sep-15 2,008 379 87 $375,000 18.87% Oct-15 2,163 308 $385,000 1424% Nov・ 15 2,267 258 84 $423,000 11.38% Dec-15 2,377 340 83 $412,000 1430% Ja「16 2,664 288 78 S425,0∞1081% Feb‐16 2,929 84 $425,000 891% Mar‐16 2,942 385 94 S385,000 13.09% Apr-'16 2,824 429 78 $434,000 1519% May-16 2,727 392 84 $432,000 14.37% 」un-16 2,627 410 85 $400,000 1561% Ju卜 16 2,517 318 73 $375,000 12.63% Auq-16 2,509 346 86 $385,000 1379% Sep-16 2,617 299 90 $378,000 11.43% Oct-16 2,794 293 84 $375,000 1049% Nov・ 16 2,916 265 80 $395,000 9.09% Dec-16 2,958 338 $408,000 1143% Jan‐17 3,163 279 94 S397,000 882% Feb-17 3,205 $402,000 908% Mar-17 3,180 428 98 $428,000 1346% Ao「17 2,986 404 $419,000 1353% Mav-17 2,734 485 105 $43s,000 17.74% Averages:2,599 355 87 $402,500 14.05% Source: Naples Area Board of Realtors This historical data indicates that approximately 8% to L7o/o o'f the available single family units listed for sale in Collier County were absorbed each month for the most recent 12 month period. The average for the most recent 12 month period is L2.26%, while the pasl24 months was 13.48%. As of the date of this report, the residential markets are in a period of groMh and the bulk of the evidence suggests that conditions going forward should be a continuation of our current conditions with slightly moderated growth as the pace of recovery normalizes as shown above. For the most recent 12 month period, there were an average of approximately 2,851 single family residential units on the market per month, and an average of 346 units were absorbed each month. For the single family product type in Collier County, inventory levels have increased since late 2014. The first quarter of 2077 represents the highest level of inventory over the 24 month period. The following chart illustrates the average available inventory since May 2015: MAXWELL HENDRY SiMMoNS Available lnventory Source: Naples Area Board of Realtors Average marketing times have increased over the past 24 months with the first quarter of 2077 having an average marketing time of 98 days compared to the 24 month average of 85 months. Although demand remains relatively steady (see Number of Sales below), the increase in inventory is creating an increase in the average marketing time. The following chart illustrates the historical marketing times for this product type over the past 24 months: Average Marketing Time (DOM) 120 40 1-一 一一― :言 l:::::l:::] Source: Naples Area Board of Realtors MAXWELL HENDRY SiMMONS 12|3′500 3′000 2′500 2,000 1,500 1,000 5000 The following chart illustrates the number of sales over the pasl24 months: Source: Naples Area Board of Realtors Also, the following chart illustrates the change in pricing levels over the same period: Number of Sales Market Area Median Sales Price S44Q000 : 542Q000 540Q000 ‐ 538Q000 1 S36Q000 1 534Q000 532Q000 :言 ::::::::::: Source; Naples Area Board of Realtors MAXWELL HE∥DRY S:MMoNS 13 500 450 400 350 300 250 200 150 1∞ 500 I I l. Covernmental Forces The county government consists of a five-member board of county commissioners, elected to four-year terms within single-member districts. A non-elected county manager heads the government staff. Other elected officials in the county are sheriff, tax collector, supervisor of elections, clerk of the circuit court, and property appraiser. ln addition, there are numerous specialdistricts with independently elected boards, with the services provided ranging from fire protection tot water & sewer service. Services There are two incorporated cities with the usual municipal services, such as police protection and fire protection. The balance of the county is patrolled by the Florida State Highway Patrol and the Collier County Sheriff's Department. lndependent fire control d istricts serve the ba la nce of the u n incorporated a rea for fire a nd rescue services. Utilities Centurylink is the primary telephone service provider for Southwest Florida. CenturyLink has a fiber optic backbone that has the ability to connect all of its central offices and maintain high network availability. KMC Telecom, lnc., along with CenturyLink, has a SONET ring surrounding Southwest Florida. This SONET ring safeguards customers from service interruptions by using diverse routing of its fiber optic cables. Electricity is supplied by Florida Power and Light and TECO. Gas is available from any one of a number of manufactured bottled gas dealers in the county or directly from TECO. Water and sewer service is supplied by the either city or county government. Medical Services The Naples Community Hospital System is a private non-profit which oversees several facilities throughout the county. Educational System The School District of Collier County oversees the uniform K-12 public educations system within Collier County. There are also several private and parochial schools in the county. Florida Southwestern State College has a campus in Naples, while Florida Gulf Coast University is located in south Lee County. Ave Maria University is a newer established Catholic University located in East Naples. Transportation By far, the major artery through Collier County is U.S. 41 (Tamiami Trail). Another major artery is lnterstate 75 (l- 75), which connects Naples to the east coast population centers of Miami and Fort Lauderdale. Air service is limited but currently expanding out of Naples Airport. The Southwest Florida lnternational Airport, just north of Naples, in Fort Myers is the primary source for air service. lV. Envi ronmental Forces The county has a sub-tropical climate. The average temperature is 74 degrees. Temperature extremes are infrequent with only a rare freeze and few readings above the mid-gos. Rainfall averages just over 53 inches annually, with the heaviest rains during the summer months. MAXWELL HENDRY SIMMONS 14 The subject market area is in the Growth stage of its life cycle. This market area experienced tremendous development from 2003-2005 and then an equally significant decline in property values from 2006-2011. This trend has reversed over the poast five years with year over year increases in property values and a returned cycle of new property development. This growth trend is most pronounced within the Naples area, but increasing property values and new development is also occurring in the eastern rural areas of the County as well. The subject is located in the eastern area of the County. ∥AXWELL HENDRY SIMMoNS 15 Cortn prrtrtvr Mnnrrr Anrn 16MAXWELL HENDRY SiMMONS l. Boundaries: The subject property is located on the north side of lnterstate Boulevard in the eastern portion of Collier County. The competing market area consists is delineated as follows: 75, east of CR 951, and west of Everglades lmmokalee Road interstate 75 CR 95■(Co∥ier Boulevard) SR 29 This portion of Col∥er County is genera∥y undeveloped,and rural or agriculturalin nature,w th the except on of developments offlmmokalee Road and CR 951 and sma∥er,ruralresidential properties of Golden Gate Estates To the north of this market area is lmmokalee, which is an unincorporated communlty consisting Of approximately 20,000 residents overthe past decade,this area has experienced renewed activ ty with the Ave Maria Development and most recently with the announcement of the Rural Lands West prolect These two prolects are both part of the Rural Land Stewardship Area(RLSA)program which was estab∥shed by Co∥ier Countyls Land Development Code(LDC)4 08 00 in conformity with the Gro、vth Management Planin 2002 This prOgram was developed to protect and refurbish areas needed for vvild∥fe habitat and naturalflow―ways wh∥ea∥owing property owners the opportunity to develop in a manner that benefts economica∥y and ecologica∥yHistorica∥y,this area has been solely uti∥zed for agricultural,ruralresidential and some mining purposes W th the Rural Land Stewardship prOgram, approxllmately 200,000 acres in eastern Co∥ier County have been de∥neated which gives incentive to property owners to preserve large areas of env ronmenta∥y sens tive lands and focus development away from these sensitive areas The program has created a balance between developers and environmental groups in sensitive areas ofthe County …There are genera∥y three funct onal classifications which apply to roadway networks,being arterials,co∥ectors, and localroads A∥streets and highways can be grouped into one of these classes,depending On the character of the traffic(le,|。Cal or long distance)and the degree of access thatthey a∥ow Arterials provide the highest level of mob∥ity and a greater degree Of access control,wh∥e local faci∥ties provide a high leve1 0f access to adlacent properties but a low level of mobi∥ty CoHectorroadways provide a balance between mob∥ity and land access This marketis served by two minor north/SOuth arterial routes and two minor east/West artenal rOutes lmrnokalee Road,CR-95■(Co∥ler Boulevard)and OI We∥Road are the primary arter als providing access to the urban core areas west ofthe sublect immokalee Road is a County Road,and provides access from the urban areas of Naples starting atits western terminus of Tamiami Tra∥N(US 4■)easttOlmmokalee cR-951 provides north―sOuth access from lmmokalee Road south tO Marco lsland SR 29 represents the approximate eastern boundary whi e lnterstate 75(卜 75)is the SOuthern boundary 75 provides limited access to sublect market area with interchanges at CR-95■and SR 29 0∥We∥Road,to the north of the subJectis an eastwesttrafFic artery which is the..gateway''into Ave Maria 011 We∥Road continues easterly to an intersect on with state Road 29,which provides additional access to interstate 75 ● North ● South ・ West ● East MAXWELL HENDRY SIMMoNS 17 The east Co∥ier County market was historica∥y a rural and low density area of Co∥ier County with a re!atively stabi!ized population base at very!ow levels until the deve!opment of Ave Maria University and surrounding community in the mid 2000's. This area had historica∥y grOwn much slowerthan Co∥ier County as whole, although a sharp spike in population was seen between 2000 and 20■0,vvith the introduction of the university and surrounding cOmmunities. Growth within this market area is expected to increase overthe next five years, with the Ave Maria proeCt Surpassing■,000 closed homesin 20■6 and year over year sales increasing■■%to 5■0/O overthe pasttwo years. Moreover,other developments such as Rural Lands VVestvvi∥continue to add units to this area along with sma∥er proJects such as The Ranch at Orange BlossOm. The fo∥owing chart∥lustrates the popu:ation and households in this market area since 2010: 6QO∞ 5Q000 4Q000 3Q000 2Q000 lQ0000 2010 2016 2021 Source: esri The population growth in this market area had historically lagged far behind Collier County as a whole until the introduction of Ave Maria. This was partially attributable to the stabilized population within this market area and the desire for much of the market to remain at low densities. Between 2O0O and 2010, the population grew significantly primarily due to the development of Ave Maria. This growth rate slowed substantially during the recession, and has improved with the sales pace of homes. The following is a breakdown of the demographics of delineated market area: I Population I Households MAXWELL HENDRY SiMMONS 18 Ars.g. ri.l/'.iold 5u. Olrn r O{A'U fiqlrt$ a,rt n .ur t @rpld ral..&t U.[r tt * IC, . loilil lrrd lrl llaE L.r.not tEm. l'l{af.l.a tlr6-a rtlE,EE a!5,000 lzra.ft tl!,lxlo l!1,r44 #15,!64 - lat,talt aga,noo ,ra,.tt 1, ars,n@ frr,.rB ! rr.d& ttle.ttt 4150,040 - *t!rt rlt t2{x,,0&r ir.d!. iad.nots !a6.n. ril,le. rbi..lrdld I rrE t r CrCtr t r.om. t r.5or, ra. 0_a 99 10'14 t5 l9 &.14 2S 11 15 . arr 19 ,4 !5 . 6/t €s ta,s.a 85r aao rI lraaatl, &r..tan tdt Alm. .tl.nt Irlsar Alux 5..n otnr. trt tt r llo o, ,aor trai }116r.r on|rn {r,ry b..l o.t.l.d..Ik:EFlxd ― 麺 ●|・ ¨ 12.9●|10.51● 3‐ I●,7‐ 2.114 ,7■ ―2- ,鉄 2●1も ,Sθ ヽ 2- …… … n―lコ脚口 ●‐ 2.0“ 7 1nt ヨ脚●● ●●ql ヨ.341 ●mt 2.コ 6 5コ 目b ●.■■ lι 饂 `,393 1喘 `,": =`A■4●7 11聾 2.●●, 7■籠 1,3" 2●● 211 1LS● …… ― ,ur・・ nt ●5.1フ ● ●″■日し 207G 31■ lSG ¨ St, 11月嗜 ● 嗜 1,6t` 4い ‐ ■,ヽ -t,a4/n lrt,lB ,2,|fi :tt tt,tt5 !,0a :t.6L- ut6al r.!ot trgt r-!tt ,-l3tr It, luiar H t a.:]ttfi a.gl u6a l,.t 7,tL tllrt !,{t 13.:tt,!ao ut.ut 2,417 tt.lt l:! s.tt715 a.li l6a,o5! ,G.rta a17,*,,, lllrl Hz.ert r.7r 3,0$ a.* ".* 7t L 3JrO '.tr7,,,15 a-zr 5,113 l:t.It6J]. tf.S 6.Cra !1.?t 5.47t rt.oi a)3t t.orr Lra, !.8a6 6-!ttrlt XlI'lll E an ra! G.at2,6a€ S.rt rlt o.4r ,* l.a,it !.ot ?,055 a.4t t,!13 l.tt 17.2D l.!lf ru 9l.rta t ,o?a tt,4t !.na t!.!al l,aa! AI E-d o-@r 0.7!r+ o-71$ o.z!t( 2.ttf, tt, L't. lEr l,Otl !-!*tatb tf, l,ri( 5.fL 1.tt!3 lt-!f, 3,65t 2rr.f,3,txt trrf, !,!54 18.$ 1.r}!' atf1,O!a s.tf, '?r,Lz7us,$2 lt1-5rl an*ra] iai !,qr aA !,t07 6.2.f,!,!to3 7.^ !.tBr 674 !,r5r tlf, 6,$t r2.q?a!a 13-!If, €.si l!r,* ,,rr7 ttr.[ ,#t toJt :.tts a.tf, !16! !.r* t, L'ar .lai aa,7ta til"rrl !,tll 6.:.tzra o.+* l,orc l.llf,!l oof, 7#a a.a.t t,at, 2-7L 21m2 S:esri rbiqor r ,r.. : 29319 rry.lt mlbr Rrep3面 "日 tor-: u.:, ol&. a.*. r., !1a ヽ ne 29.2●:7 MAXWELL HENDRY SIMMoNS 19 1,71つ D],"も ③eS面 団蒟固団口団‐‐‐‐‐ arl : 2tr.o!, r4!l rnl!.! ●eparod"印 201■2t122 ■"■■ェc t7.ハ PoruLtLr hg.fili(Il h lg€ ■2●1′ 20F」 Q4 J lj =ユ 14 1ち 1り 20 2■ 2J J■ 201フ Hα “ J●U Incare |】'‐0■■ 201フ "fr"■L"nヒ 0ぃ ●:36●ヽ ]tlne 29.20:フ 」ち ●4 43 34 L3●4 6, ′4al17 hpul詢 ●n by時曖 MAXWELL HENDRY SIMMONS 20 |''■‐●●■ I V. Sienificant Proieas: Ave Maria: The Ave Maria community is located near the easterly edge of the above delineated market area. Ave Maria is a Development of Regional lmpact (DRl) located in the easterly unincorporated areas of Collier County, south of the community of lmmokalee, Florida. Ave Maria University and the surrounding town were created in the early 2O00's in a partnership agreement between Tom Monaghan and the Barron Collier Companies. The original Ave lvlaria campus was located in Michigan, but was relocated to Collier County when zoning rights for planned expansions in Ann Arbor Michigan could not be obtained. ln 2003, the Barron Collier Companies donated approximately 5,000 acres of land for the project, and the campus was opened in 2007 with an initial enrollment of about 700 students. Approximately 20% of lhe overall lands are designated for the Ljniversity Campus, with the rest of the lands being used for residential and other development. The town and university are conceptualized to be a Roman Catholic-centric enclave, in a mold similar to that of Notre Dame in lndiana. A number of master planned communities are being developed within the town of Ave Maria by third party builders, and there are approximately 11,000 planned residential units atbuild-out. Enrollmentand homesales have fallen short of initial expectations and, as a result, some of the new master planned communities (such as Maple Ridge, Coquina and Avalon Park) are being marketed to a wider demographic which includes families looking for more affordable single family housing (relative to Naples as a whole) in a gated, small town environment. The following is an overview of the Ave lvlaria community: MAXWELL HENDRY SIMMONS F①'・.υNiVERSIIV EXPAヽ S:ON :鍾 Fι ,1■,RE RFSIDFN■lAl 又 Ave Maria experienced strong initial growth in 2OO7 with 177 sales followed by 2008-2012 which had an average of 48 sales per year. A resurgence occurred in 2OL2 with 107 sales and continued with 183 sales in 2014,287 sales in 2015 and 321 sales in 2016. year to date (2017), there have been approximately 100 sales which surpasses the sales during the same period in 2016. ln total, there have been 1,404 closed sales. MAXWELL HENDRY SIMMONS 22 ヽ ヽ・=(|〕トーES 慈 |■. 「5400,000 S350′000 S300′000 5250′000 5200,000 S150,000 5100,000 550,000 50 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 鰯 Sale Price 鬱 #sales Source: Ave Maria Sales Office There are a number of distinctive master planned neighborhoods within Ave Maria, as well as the town center, each having their own product type, character and appeal. These neighborhoods can be described as follows: Del Webb: The Del Webb Naples neighborhood in Ave Maria is a 55+ adult community located along Anthem Parkway, south of the Ave Maria town center. There are 11 models of homes available within the community ranging from 7,289 square feet to 2,634 square feet with two and three bedrooms floor plans. Prices start from $218,990 up to $318,990. Amenities include the Oasis Club, an amenity center featuring over 12,000 square feet of entertainment and fitness space, resort and lap pools, tennis and bocce ball courts, caf6, art studio and an 18-hole championship golf course. Emerson Park Emerson Park is a family friendly, all-ages neighborhood located at the northeast corner of the site, developed by Lennar now being marketed by Pulte, consisting of one and two story single-family homes. There are a number of floor plans and styles available from Pulte ranging from 1,570 square feet to 3,514 square feet, with three to six bedrooms. Prices range from $219,990 to $315,990. This project is at the end of the sellout. Hampton Village: Hampton Village is being marketed as a traditional-style neighborhood, with homes that feature front porches, alley-loaded garages, and large, single-family floor plans designed specifically for growing families. Hampton Park is located just south of the Town Center. Pulte Homes is at the end of the sell out of this project. Residences atLaPiazza: The Residences at La Piazza are condominium units located on the second and third floors of the Town Center. They are designed to be Mediterranean or European in style with views of the University and the downtown area. The floor plans range in size from 1,189 square feet to over 1,700 squarefeet of living space. Resales range in price from $18O,OOO to $2g7,000. Maple Ridge: Maple Ridge is one of the newer communities within Ave Maria and is intended for single familydevelopment by cc Devco. The development will have 1,666 units at buitdout with phase 7 (42), pnase z tsai,Phase 3 (220), Phase 4 (L64), remaining Hampton Village (23), and future phases of 1,129 units. There are tenfloor plans being offered, with 3o exterior elevation packages. Floor plans range from three to five bedroomhomes on one or two stories. Sizes range from 1,935 square feet to 4,032 squarE feet, and pricing ranges from$264,99o to $401,990 MAXWELL HENDRY SIMMONS 23| Coquina at Maple Ridge: Coquina at lvlaple Ridge is located adjacent to the larger lvlaple Ridge project. This community is designed with smaller, single family lots. This community has homes ranging in size from 1,348 square feet to 2,25L square feet and pricing ranging from $201,990 to $252,990. Coquina is currently marketing Phase ll and Phase lll. Maple Ridge Reserve: Maple Ridge Reserve is one the newest communities within Ave Maria and is intended for larger, single family lots and residences. The development will consists of a total of 282 units with homes ranging in size from 3,251 square feet to 4,358 square feet- Pricing within this community ranges from $4oo,990 to $48O,990. Marketing began in approximately )uly 2015. Avalon Park Avalon Park is the newest community within Ave Maria and is being developed by Pulte Homes. The development will consists of 1,200 units with homes ranging in size from 1,565 square feet to 4,242 squate feet. Pricing within this community ranges from $216,990 to $408,990. Town Center and the Mhrex Commerce Park: The La Piazza Town Center is located adjacent to the university campus near the northerly edge of the town of Ave Maria, and is centered around the Ave Maria oratory Church. TheTown Centerfeatures retailshopsand restaurants as well as office space a nd publicservices. Located near the southerly end of the Town of Ave Maria, the Anhrex Commerce Park is a 57 acre flexillight industrial park anchored by the new 197,000 square foot manufacturing facility for Arthrex, lnc., a major medical instrument manufacturing company. This industrial park will eventually encompass 200 acres accommodating a wide range of businesses, R&D and manufacturing. Rural Lands West This project is located in eastern Collier County, west of Golden Gate Estates and Ave N4aria. The project is being proposed by Collier Enterprises as part ofthe Rural Land Stewardship program. The project is approximately 16,000 acres of which approximately 4,000 acres is available for development and 12,000 acres will be set aside for preserve/conservation. Upon build out, the master planned community will have up to 10,000 units as well as 1.9 million square feet of commercial development, parks, 54 holes of golf, and other recreational uses. The following is a conceptual plan for the project: MAXWELL HENDRY SiMMONS 24 The Ranch at Orange Blossom: This project is a master planned community being developed by Lennar Homes, located along Oil Well Road, iust east of lmmokalee Road. New homes within the community are priced from between $262,999 to $427,999, with floor plans ranging from 1,677 square feet up to 3,867 square feet. Amenities include tennis facilities and a community pool as well as bike and jogging paths throughout thecommunity. Marketing began in March of 2013, and the community consists of an estimated 450 home siteswith 141 remaining unsold. To the east of Ave Maria is Camp Keais Road, and little development other than orange groves extending beyond the easterly edge of the market area. To the south of the community is oil well noao, witn row crops and orangegroves extending southerly until development dissolves into conservation lands and the Florida panther NationalWildlife Refuge. To the west of the Ave Maria community is an area of wetlands extending southerly from Lake Trafford which is a flow way draining into the conservation lands to the south. Beyond thiJ area of wetlands arerow crops, Oil Well Grade Road, and further west, the fringes of the suburban portions of Collier County. The MAXWELL HENDRY SIMMONS 25 maJorty ofthis area surrounding Ave Maria and Rural Lands Westis within the Rural Land Stewardship overlay, which encourages cOnservat on,clustering Of development and smart grOwth concepts Overa∥,the market area genera∥y serves as an agricultural and rural community with the exception of Ave Maria and the proposed Rural Lands West A market area norma∥y goes through fOur stages during its∥fe cycle These four stages are as fo∥ows: ● Gro、vth―a period during which the market area gains publ c favor and acceptance ● Stabi"ty―a period ofrelat ve equ∥ibrium without market gains orlosses e Dec∥ne―a per od of diminishing demand o Revita∥zation―a period of renewal,modernization,and increased demand The sublect's market area is in a period characterized by a return to growth and recovery fo∥owing a severe dec ine which affected nearly a∥markets around the nat on The primary market area had suffered from this acute downturn from 2006 unt∥approximately 2010 This lengthy dec∥ne was characterzed by a slowing ofthe population growth,stagnatiOn of the absorption of new units within the newly created town of Ave Maria,and dechning values in a∥ real estate segments immediately prior to this downturn,this market area had seen significant growth and high expectations from Ave Maria,and property values had escalated rapidly based on speculation that the pattern of gro、vth would spread throughoutthis market Typica∥yin a market area life cycle, per ods of grOwth are fo∥owed by a period of stab∥ty ln this case,the onset of the national recession,coupled with the cr sis in the lending markets concurrent with the introduction of this new community,tempered much ofthe excitement over Ave Maria,and has potent a∥y had a negative effect upon future absorption of residential un ts and enro∥ment This market area is currentlyin a growth per od with prolects such as Ave Mar a and Rural Lands West The significant speculation leading tO rising property values dur ng the run up to the bubble in 2006 has now evaporated,and the residents surrounding this market area continue to i∥ustrate a preference forlow density and rural development patterns Given these factors, t is∥kely that the shortterm focus ofinvestment and redevelopmentin the region w∥lcOntinue to focus on the mmediate area surrounding Ave Maria and rural Lands West,w th very∥ttle development bleeding overinto the surrounding areas Therefore,in the shortto medium term,we expect this market area to maintain the existing character demonstrated over the past 2 to 3 years, wth grOwth moving fOrward in these pnmary prOlects しイたGO″clusノ ο″′ ln summary,this geOgraphic area is a mostly rural and agricultural expanse far removed fronn the urban core, with prolects ∥ke Ave Maria and Rural Lands West being lndependent enclaves, somewhat isolated geOgraphica∥y,economica∥y,characterist ca∥y and ideologica∥y from the surrounding patterns The population within the larger market area has shown favoritism towards rural and low density∥festyles,and employment and income figures have historica∥y been far below county norms The shortterm outlook forthe market area is genera∥y positive,and the signs Of recovery are becoming more prevalent and read∥y observable ltis un∥kely thatthis market w∥enter another per od of explosive growth llke that seen prior to the recession,although a more reasonable and moderate growth pattern may turn outto be more sustainable(and therefore more desirable in the long term),and carries less risk of a bubble occurring in the future ln the long term. as gro、vth continues to spread outward and eastward from the coast and the developed urban core,the supply of ava∥able land may decrease and stimulate further development;however this is Speculative,and would remain many yearsinto the future MAXWELL HENDRY SIMMONS 26 MAXWELL HE∥DRY SIMMONS SEC.IV:PROPERTY DESCRIPT:ON LocAT10N MAP NORTH BELLE MEADE SPECIAL USE AREA SUBDiSTRICT COLLIER COUNTY GROWTH MANACEMENT PLAN AMENDMENT FUTURE LAND USE ELEMENT LOCATCD IN SECT10N 29, 31 AND 32, TOWNS■IP 49, RANCE 27 COLLIER COUNTY, FLORIDA 薔 ": : き。L[嗅 ノCATE CrTY 劇ヽ摯“ ヽ LOCAT10N MAP ト AERIAL MAPS MAXWELL HE∥DRY S:MMONS 28 ArnrRl DrprcrNc RFMU - RrcavlNc LRNos nNo SrNolNc LnNos MAXWELL HENDRY SIMMONS 29 WETLAND IURISD:CT:ONAL MAP 蜆 MAXWELL HENDRY SiMMONS 30 ●① ∥ FL∪CCS MAP 盟 HHH RANCH FLUCFCS MAP North Belle Meade Special Use Area Subdistria HHH Ranch FLlκ FCS CODE 212 UNIMPROVED PSIURE 321 SAW PALMETTO 41l SIAM PINE FtATW00DS 422 3RAZ:LIAN PEPPER424 MELALE暉 428 CABBAGE PALM 616 pONO CYPRESS 617 MⅨEO WEnAND HARDWOOOS 621 CYPRESS 624 CYpRESS‐p:NE‐CAttE PALM “ O MIXED WETLAND FOREST 310 0RY PRAlRIE EXOT(S CODE E1 0‐25%EXOTlCSE2 26 Ю %EXCITICSE3 51-75%EXOTICS E4 76‐100%EXOnCS DlSTIRBANCE CODE D DRAコ nCALLY DIttυ RBED S SE“D=NGR REC―NGN W③ES0 500 1000 1500 2000食 MAXWELL HENDRY SiMMONS 31 Flooo Mnps MAXWELL HENDRY SiMMONS 32 33MAXWELL HENDRY SiMMONS MAP SCALE l''=1000' ¨ 一 昴AC u瞑 =ARu 217′aC o7●oNOTE: This is a conceptual map completed by RWA Engineering for the property. No approvals are in place for this design. MAXWELL HENDRY SiMMONS 34 CoNcrprunl PLnN Cotrnplrrro ev RWA ENcrNrrnrNc Assul rNc 578 UNrrs NOTE: This is a conceptual map completed by RWA Engineering for the property. No approvals are in place for this design. MAXWELL HENDRY SiMMONS 35 “ Fl,l AC― CoNcrpruRl Srrr PrnN CoNaplrrro ev RWA ENcrNrrnrNc Assul rNc R RURAI- Vrlrncr wrrH 852 UNrrs NOTE: This is a conceptualrnap completed by RWA Engineering fOrthe property. No approvals are in place for this design. MAXWELL HENDRY S:MMONS 36 SuRvrv rnom LRNo SolunoNs, INc. MRRrrrrNc FlyrR HHH RANCH SURVEY 3アMAXWELL HENDRY SiMMONS Lrcnr DrscnrprroN EXmBIT B_mttI Ranch Roiving Lands l. W“団n Sα ガo■29,Tonship 49,Rmge 27;p-ls: ∞328500002 294927E172 0F SE 1/4,NW1/4 0FSE1/4,E1/2 0FSW 1/4 0FSElノ tNW1/4 0FSWi/4 0FSE1/4,N1/2 0F SE1/40FSW 1/4,NE1/40FSW 1/4,E1/2 0FNW 1/40FSW 1/4,SW 1/4SE 1/4SW 1/4,W1/2 0F SE1/4 0F SE 1/40F SWi/4,SE 1/4 0FSW1/40FSW i/4,E1/20FSW 1/40FSW 1/4 0F SE1/4, 0033132000G 29 49 27 SE1/4 0F SE1/4 0F NE1/4 00330480002 294927E1/2 0FSW1/4 0FSW1/4 0F NE1/4 00320040003 294927E1/2 0F SE1/4 0F SE1/40FNW1/4+W1/2 0F SW1/4 0F Slν 1/40F NE1/4 003`υ `40004294927W1/2 0F SWir4 0F SW1/4 0F SE1/45 AC.OR 1342 PG H29 00330040008 294927E1/2 0F SE1/4 0F SE1/4 0FSW1/45 AC.OR 1342 PC 969‐970 2. ■c Northm 279“ぃofSdio■32 To■nship 49 Sout Range 27 East EXHIBII B - HHH F.anch &nding Lands L Thc Sou&cm 375 acrcs ofScction 32, Township 49 South, Rangc 27 East, less md €xccD( aay lEnds tbd urcrc prcviously tatcn for highuray right ofway. MAXWELL HENDRY SIMMONS 38 LRND DoNRrrD To CoLLIER CouNrv FoR FUTURE WIrsoN Bourrvnno ExrrNSIoN 3●はC PR●IECT II● … 瞳 国 ““ ′Wn… …_PRO」ECT PARm l10 1lrEEFOtЮ●●8 …… 3m●11… 剛 1謝 高菖恩洲照計爵.(CONTAl踊 惜 LESS) SCCnON 32 MAXWELL HENDRY SIMMoNS 39 PRoprRrv PHorocRRpHs W'LY VIEW ALONG BLACKBURN ROAD JUST WEST OF SUB」ECT N'LY V!EW ALONG W'LY BORDER OF SUB」ECT MAXWELL HENDRY SlMMONS 40 、■l E'LY V!EW OF CYPRESS AND PINE FLATS N'LY VIEW ALONG VV'LY BORDER MAXWELL HENDRY SiMMONS 41 E'LY VIEW OF SUBJECT FL00DED AREAS ON N'LY BORDER OF SUB」ECT MAXWELL HENDRY SIMMONS 42 lt三 亀摯|| S'LY V!EW ALONG E'LY BORDER S'LY VIEW OF FL00D!NG AREA ON E'LY BORDER MAXWELL HENDRY SIMMONS 43 VIEW OFINTER10R OF PARCEL VIEW OFINTER10R OF PARCEL NOTE: Trenches were dug by fire district authorities to assistin stopping fires in 20■7. MAXWELL HENDRY SiMMONS “ VIEW OF!NttER10R OF PARCEL ELY V!EW ALONG S'LY BORDER OF SUBJECT(W:LSON BOULEVARD EXTENS:ON) MAXWELL HENDRY SiMMONS 45 S'LY V!EW OF!NTERSTATE 75 S'LY VIEW OF FORMER CAMP AREA MAXWELL HENDRY S:MMONS 46 ∨IEW OF POND AREA ∨lEW OF AREAIMPACTED BY 2017 FIRES:N EASTERN COLLIER COUNTY MAXWELL HENDRY S:MMoNS 4ア PRoprRrv C HRRRcrrRr sr cs The subject property is an assemblage of eight (8) parcels containing approximately 962+/- acres of gross land area, located along the northerly right-of-way of lnterstate 75 ("Alligator Alley"), approximately 3.1 miles east of CR 951 (Collier Boulevard) and approximately 3.6 miles south of Golden Gate Boulevard in the eastern Naples area of Collier County, Florida. The property is SUBJECTOvERvtEw: subject to Settlement Agreement (Case No.: 08-6933-CA and 08-6988-CA Hussey v. Collier County). A copy of said Settlement Agreement can be found in the Addenda to this report. The Settlement Agreement changed the designation of the northerly 578 acres of the subject property from Sending to Receiving Lands (see ZoninglLand Use). The southerly 384 acres of the subject is designated Sending Lands. According to the Collier County Property Appraiser, the address of the property ADDRESS: is undetermined. The property is located in the unincorporated areas of Collier County, Florida. TAXIDs: 00328560002 0033■320006 00330480002 00328640003 00329240004 00330840008 0034■960003 00342040003 LEGAL DESCRIFT10N: For the purposes of this appraisal, we have estimated the subject property as being962+1- acres. The subject has a very lengthy legal description which was derived from the aforementioned Settlement Agreement. The legal descriptions can be found on the previous pages. MAXWELL HENDRY SiMMONS 48 LocAT10N/AccESS/ ExPosuRE: Sze (Sre Aner)/Sume: The subject property is located along the northerly right-of-way of lnterstate 75, east of CR 951 (Collier Boulevard) and south of Golden Gate Parkway in unincorporated Collier County, Florida. The extensive frontage along lnterstate 75 provides good exposure to the property. However, as of the date of appraisal, legal access is somewhat uncertain. Physically access is now provided from CR 951-, east along White Lake Boulevard to Blackburn Road to the southeast entrance to the subject property. The subject is approximately 1 mile from White Lake Boulevard. Blackburn Road is a 50' right of way owned by Collier County which is currently a dirt road in poor condition. lt is assumed Blackburn Road would be the primary access to the subject and would most likely have to be developed at the expense of the property owner. lt is assumed, in addition to this providing access, the property owner would most likely receive some impact fee credits for developing this right of way. Land Solutions, lnc., the listing broker for the property, provided a Conceptual Site Plan completed by RWA Engineering in May 2017, which illustrates potential future access points at the southern intersection of Markley Avenue and lnez Road which would traverse the subject to the east side of the property and potentially access Wilson Boulevard Extension and Haul Road, neither of which exist or are in the planning stages as of the date of valuation. These road extensions are not known to be on Collier County's plan or the Metro Planning Organization plans in near future. The southern terminus of Wilson Boulevard is approximately 2.5 miles north of the northern boundary of the subject. While the subject property has frontage along lnterstate 75, there is no direct access to this highway, and none is likely to ever be granted. Access is a significant hurdle for development of the subject whether for residential purposes or mining purposes. Significant upgrades would be necessary to the roadway networks prior to development of the subject. lt is assumed, the property owner would incur significant costs whether in the form of developing Blackburn Road or acquiring rights for an access to the north. According to the settlement Agreement, the subject property consists of a total of 962t acres. This appraisal is subject to a current survey. The settlement Agreement describes the total ownership as 1,110 acres. However, the 149 acres in section 33 is not part of this appraisal. The Settlement Agreement lists 308 acres in Section 29 and 654 acres in Section 32. The subject property is slightly irregular in shape with the southerly edge measuring approximately one mile in length along the wilson Road Extension right of way and lnterstate 75. MAXWELL HENDRY S:MMONS 49 The subject property is rather large (962t acres) and, as a result, contains a variety of different topographies and features. According to a letter dated 9 August 2015 from the Department of the Army, Jacksonville District Corps of Engineers, "the project site is a 975 acre parcel containing 14.9 acres jurisdictional freshwater herbaceous wetland and six isolated freshwater herbaceous wetlands totaling 126.3 acres." ln addition, according to a map depicting wetland jurisdiction completed by Synecological Analysts dated 10 December 2010, the property has the following FLUCCS codes and descriptions: ● FLUCCS CODE DESCRIPT10N 32■Palmetto Prairies 321/411 Palmetto Pine Flatwoods 4■■Pine Flatwoods 428 Cabbage Palm Dominated 621/428 Cypress with CabbaAe Palm 4■1/428 Pine Flatwoods with Cabbage Palm 428/32■Cabbage Palm with Palmetto Prairies 6■6lnland Ponds and Soughs 6■9Exotic Wetlands Ha rdwood 621/422 Cypress with Brazilian Pepper 64■Freshwater Marsh 641/617 Freshwater March Hardwood 621 Cypress with Unimproved Pastures 624 Pine, Cypress, Cabbage Palm 624/619 Melaleuca lnvaded A visual description of these topographical features can previously be found on the Wetland Jurisdiction map. PHYS!CAL FEATURES (ELEVAT10N,ETc.〉 MAXWELL HENDRY SIMMONS 50 UTILITIES: Currently, the subject property has electrical service provided by FP&L. However, the subject property is outside of the Collier County water and wastewater service area which is highlighted below in blue: According to the Collier County Public Utilities Engineering and Project Management Division, serving the subject property would require amending the Collier County Water-Sewer District (CCWSD) boundaries and there are presently no water or wastewater facilities readily available. According to this source, the closest facility is 1.3 miles west of the southwest corner of the subject property and includes a 10" water main and a2" force main that serves the Collier County landfill. The 2" force main discharges lo a 4" force main 7+ mile to the west. The main can be shown as follows: 51MAXWELL HENDRY SiMMONS According to The Federal Emergency Management Agency's - Flood lnsurance Rate Map program (Community Panel No. 72O27CO420H and 12O27CO44OH - Date: May 16, 2OL2), the subject is primarily situated in an area designated Ft-ooo Zorue: as Zone AH with small portions of the property located within Zone AE. Flood Zone AH has flood depths of 1'to 3'. Flood Zone AE has base flood elevations determined. Typically, flood insurance is required under most financing situations. lrr,lpRoveueurc: The subject property has perimeter fencing as well as minor improvements for a hunting style camp. The hunting camp consists of several aging buildings which have recently been damaged by fire and are in extremely poor condition. Because of the large size of the property (962t acres) and the age and condition of these improvements, it is our opinion that any interim use value would be below the rounding threshold used in the appraisal and subsequently would not contribute to the overall value of the subject in an appreciable manner. MAXWELL HENDRY SIMMONS 52 EASEMENTS, ENcRoAcHMENTS, Erc.: AssESSED VALUE, TAXES,AND AssESSMENTS: As noted, as part of the Settlement Agreement, the subject property owner donated the southerly 18O' of Section 32, Township 49 South, Range 27 Easl to Collier County for the Wilson Boulevard Extension. The subject has access and rights via this property. We are not aware of any other easements or restrictive covenants which may be associated with the subject property, other than those typical easements which are required to provide utility service, and ingress and egress. Furthermore, we are not aware of any other restrictions or development moratoriums that would have an adverse impact on the property. Fo:io#Owner ASSttED VALUE TAXABLE VALUE 20■6TAXES 328560002 HUSSEY」R,FRANCIS D&MARY P $780,000 $47,300 $544.10 331320006 HUSSEY」R,FRANCIS D&MARY P $40,000 $1,550 $■7.84 330480002 HUSSEY JR,FRANCiS D&MARY P $20,000 $775 $8.9■ 328640003 HUSSEY」R,FRANCiS D&MARY P $40,000 $■,550 $655.9■ 329240004 WINCHESTER LAND LLC $20,000 $775 $8.9■ 330840008 SEAN MEADE HUSSEY TRUST $20,000 $16,500 $208.■434■960003 HUSSEY JR,FRANCIS D&MARY P $784,850 $53,46■$6■4.96 342040003 HUSSEY JR,FRANCiS D&MARY P $784,850 $57,02■$655.9■ TOTAL 52,489,700 $■78,932 $2,714.68 The ad valorem taxes and annual assessments due for each period are exclusive of any early payment discounts or late payment penalties. There are no known atypical outsta nd ing assessments. As of the date of this appraisal, the taxes are paid for the current year, and we are not aware of any outstanding tax liability. Please note, the opinion of value developed herein does not reflect any consideration for any outstanding tax liability which may exist. MAXWELL HENDRY SiMMoNS 53 The subject property has a designated zoning classification by Collier County as follows: 2.03.01A. Rural Agricultural District (A). The purpose and intent of the rural agricultural district (A) is to provide lands for agricultural, pastoral, and rural land uses by accommodatingtraditional agricultural, agricultural related activities and facilities, support facilities related to agricultural needs, and conservation uses. Uses that are generally considered compatible to agricultural uses that would not endanger or damage the agricultural, environmental, potable water, or wildlife resources of the County, are permissible as conditional uses in the A district. The A district corresponds to and implements the Agricultural/Rural land use designation on the future land use map of the Collier County GMP, and in some instances, may occur in the designated urban area. The maximum density permissible in the rural agricultural district within the urban mixed use district shall be guided, in part, by the density rating system contained in the future land use element of the GMP. The maxlmum density permissible or permitted in A district shall not exceed the density permissible under the density rating system. The maximum density permissible in the A district within the agricultural/rural district of the future land use element of the Collier County GMP shall be consistent with and not exceed the density permissible or permitted under the agricultural/rural district of the future land use element. ZONING: ln addition, the subject is located in the overlay districts of Rural Fringe Mixed- Use District - Receiving Lands, Rural Fringe Mixed-Use District - Sending Lands, North Belle Meade Overlay. These are generally described as follows: 2.03.08A.Rural Fringe Mixed-Use District ( RFMU District ). Purpose and scope. The purpose and intent of the RFMU district is to provide a transition between the Urban and Estates Designated lands and between the Urban and Agricultural/Rural and Conservation designated lands farther to the east. The RFMU district employs a balanced approach, including both regulations and incentives, to protect natural resources and private property rights, providing for large areas of open space, and allowing, in designated areas, appropriate types, density and intensity of development. The RFMU district allows for a mixture of urban and rural levels of service, including limited extension of central water and sewer, schools, recreational facilities, commercial uses and essential services deemed necessary to serve the residents of the RFMU district. The innovative planning and development techniques which are required and/or encouraged within the RFMU district were developed to preserve existing natural resources, including habitat for listed species, to retain a rural, pastoral, or park-like appearance from the major public riglhtsof- way, and to protect private property rights' MAXWELL HENDRY SIMMONS 54 ZoNtNG - Conttttugo: RFMU receiving lands. RFMU receiving lands are those lands within the RFMU district that have been identified as being most appropriate for development and to which residential development units may be transferred from RFMU sending lands . Based on the evaluation of available data, RFMU receiving lands have a lesser degree of environmental or listed species habitat value than RFMU sending lands and generally have been disturbed through development or previous or existing agricultural operations. Various incentives are employed to direct development into RFMU receiving lands and away from RFMU sending lands, thereby maximizing native vegetation and habitat preservation and restoration. Such incentives include, but are not limited to: the TDR process; clustered development; density bonus incentives; and, provisions for central sewer and water. Within RFMU receiving lands, the following standards shall apply, except as noted in subsection 2.03.08 A.1. above, or as more specifically provided in an applicable PUD. RFMU sending lands. RFMU sending lands are those lands that have the highest degree of environmental value and sensitivity and generally include significant wetlands, uplands, and habitat for listed species. RFMU sending lands are the principal target for preservation and conservation. Density may be transferred from RFMU sending lands as provided in LDC section 2.O3.O7 D.4.c. All NRPAs within the RFMU district are also RFMU sending lands 2.03.O8C. North Belle Meade Overtay District (NBMO). Purpose and intent. The North Belle Meade Overlay (NBMO) is unique to the RFMU district because it is surrounded by areas that are vested for development on three sides. Because this area is largely undeveloped and includes substantial vegetated areas, the NBMO can and does provide valuable habitat for wildlife, including endangered species. The NBMO is intended to achieve a balance of both preservation and opportunities for future development that takes into account resource protection and the relationship between this area and the Estates developing around the NBMO. MAXWELL HENDRY S:MMONS 55 FUTURE LAND USE: (tx, B. Rural Fringe Mixed Uso District The Rural Fringe Mixed Use District is identified on Future Land Use Map. This District consists of approximately 93.600 acres. or 7o/o of ColliP./. County's total land area. Significant portions of this District are adiacent to the Urban area or to the semi-rural, rapidly developing. largelot North Golden Gate Estates platted lands. Agricultural land uses within the Rural Fringe Mixed Use Oistrict do not represent a significant portion of the County's active agrlcultural lands. As of the date of adoption of this Plan Amendment. the Rural Fringe Mixed Use District consists of more than 5.550 tax parcels, and includes at least 3,835 separate and distinct property owners. Altemative land use strategies have been developed for the Rural Fringe Mixed Use District, in part. to consider these existing conditions. The Rural Fringe Mixed Use District provides a transition between the Urban and Estates Designated lands and behveen the Urban and Agricultural/Rural and Conservation designated lands farther to the east. The Rural Fringe Mixed Use District employs a balanced approach, including both regulations and incenlives, to protect natural resources and private property rights, providing for large areas of open space, and allowing, in designated areas, appropriale types. density and intensity of development. The Rural Fringe Mixed Use District allows for a mixture of urban and rural levels of service. including limited extension of central water and selver. schools, recreational facilities. commercial uses and essential services deemed necessary to serve the residents of the District. ln order to preserve existing natural resources, including habitat for lisled species, to retain a rural. pastoral. or park-like appearance from the major public rights-of-way within this area. and to protect privale property rights. the following innovative planning and developmenl techniques are required and/or encouraged within the District. The following is a link to the Future Land Use Element of the Growth Management Plan of Collier County: http://www.colliergov.net/home/showdocument?id =67997 MAXWELL HENDRY SiMMONS 56 Src. V: HrcHrsr & Brsr Use ANnLYSTS Real estate is valued in terms of its highest and best use. Highest and best use is the use which would be the most profitable and likely use of a property. ltmayalso be defined asthatavailable useand program of future utilization which produces the highest present land value. Highest and best use is defined byThe Dictionary of Real Estate Appraisal, 6th Edition, as: 1. The rcasonably probable use of property that results in the highest value. The four criteria that the highest ard best use must meet are leEal pemissibility, physical possibility, financial feasibility, and maximum productivity. 2. The use of an asset that maximizes its potential and that is possib,e, legially petmissible, and financially feasible. fhe hiEhest and best use may be for continuation of an asset's existmg use or fot some alternative use- Ihis is determined by the use that a mafuet pafticipant would have in mind for the asset when formulatingthe price that it would be willingto bid. (IVS) 3. [The] hig]hest and most profitable use lor which the Wopefty is adaptable and needed or likely to be needed in the reasonably near future. (Uniform Appraisal Standards for Federcl Land Acquisitions) The Highest and Best Use Analysis begins with an analysis of the property as if vacant and available to be put to its highest and best use. The property is further analyzed if thereare improvements on the property or proposed for the site. The fou r criteria of highest a nd best use that a property m ust meet are as follows: Legally Permissible Use - what uses are permitted by zoning and deed restrictions on the subject property? Physically Possible Use - what uses are physically possible to put on the site? Financially Feasible Use - which possible and permissible uses will produce a net return to the owner of the site? Maximally Productive Use - among the feasible uses, which use will produce the highest net return? PnesrNr Usr The subject property is presently utilized for interim agricultural/recreational use and speculative holding for future development. HrcHrsrRNo Brsr Usr As VRcRNT The highest and best use analysis of the site as though vacant assumes that a site is either vacant or can be made so through demolition of any improvements. This analysis examines the type of improvement that is most appropriate for a particular site. Within this community, the future land use categories are broad indicators of groMh potential such as raw residential density and service provision, while the zoning designation controls specific allowable development. The subject property is zoned A (R ura I Agricu ltu ra I District) by Collier Cou nty. Th e pu rpose a nd intent of the Rural Agricultural District (A) is to provide lands for agricultural, pastoral, and rural land uses by accommodating traditional agricultural, agricultural related activities, and facilities, support facilities related to agricultural needs, and conservation uses. other uses such as single family dwelling, oil and gas exploration, and others are permitted. ln addition, the property is located within the Rural Fringe Mixed Use (RFMl.J) Receiving Lands overlay and Sending Lands overlay and the North Belle Meade Overlay. The subject property consists of 578 acres located in the RFNIUD-Receiving Lands and 384 acres in the RFIVIUD-Sending Lands. Furthermore, according to the GroMh Management Plan, the property is located within the Rural Fringe Mixed Use District - Receiving MAXWELL HENDRY SiMMONS lands and Rural Fringe Mixed use District - Sending Lands as well as the North Belle Meade Overlay of the Comprehensive Land Use Plan of Collier County. The subject property is somewhat unique in that the property has development rights stemming from a settlement agreement between Francis D. Hussey, Jr. and Mary P. Hussey and Winchester Lakes Corporation with Collier County. This Settlement Agreement, which can be found in the Addenda to this report, has several nuances which supersede the Land Development Code. According to Collier County Government, Growth Management Department, the 384 acres located within RFMUD-Sending has a base density by right of 9 dwelling units (384 acres/40 units per acre = 9.6 dwelling units rounded to 9 dwelling units). ln total, including base TDRs and bonus TDRs, the sending area could potentially have 230.4 TDR credits. The following is a breakdown of the subject lands located in the RFMUD-Sending lands along with the estimated base density allowable: The following is a breakdown of the potential TDRs which could be achieved on the subject property according to Collier County Government, Planning Department: Base TDRs Ear!y Entry TDRs RMP TDRsキ Conveyance TDRs★★Tctal TDRs 76.8 76.8 76.80 230.4 *Restoration and Maintenance Plan potential bonus TDR credits **Conveyance TDRs are assumed to be 0 as there is no acceptable entity willing to assume ownership and management responsibility in Sending in this area. ln addition, a total of 578 acres of the subject property is located within RFMUD-Receiving Lands. According to Collier County Government, Planning Department, the subject property has a base, allowable density of 115 units (578 acres/S units per acre = 115.6 units rounded to 115 units). Furthermore, the property has a potential density of 1 unit per 1 acre by maximizing TDR credits. The property could achieve 578 dwelling units by acquiring TDR credits from Sending Lands. Moreover, if the property is developed as a Rural Village (RV), there would be a potential for a minimum density of 1.5 dwelling units per acre up to a maximum density of 3 dwelling units per acre. The following is a breakdown of the subject parcels located within the RFMUD-Receiving Lands as well as the estimated potential TDRs on the subject property with and without a Rural Village: Based on the zoning, zoning overlays, and land use, residential, and/or oil and gas exploration. the legally permissible uses would be agricultural, Fo:io#OwnerSTR #Acrest十 # Acres*Base Density por.0034■960003 HUSSEY」R,FRANCIS D&MARY P 32 49 27 ■87.5 por.00342040003 HUSSEY」R,FRANCIS D&MARY P 32 49 27 ■87.5 TOTAL 375 384 9.6=9 DUS ★Acres=This is the number of acres identified in the Executive Sunlmary to the BOard of County commissioners for May 23, 20■7 meeting(bOth text and map). ★十Acres=Acres from Co∥ier Coun、′Propeny Appraiser Records Fo!io#OwnerSTR #Acres十 十 # Acres*Base Density 00328560002 HUSSEY」R,FRANCIS D=&MARY P 29 49 27 260 0033■320006 HUSSEY」R,FRANCIS D=&MARY P 29 49 27 10 00330480002 HUSSLY」R,FRANじ IS D=&MARYト 29 49 275 00328640003 HUSSEY」R,FRANCIS D=&MARY P 29 49 27 10 00329240004 WiNCHESTER LAND LLC 29 49 275 00330840008 SEAN MEADE HUSSEY TRUST 29 49 275 por 00341960003 HUSSEY」R,FRANCIS D=&MARY P 32 49 27 ■395 por 00342040003 HUSSEY」R,FRANCiS D=&MARY P 32 49 27 ■395 574 578 1■56=■■5 DUs ★Acres=This is the number of acres identried in the ExecuJve Summary to the Board of County Commissioners for May 23,20■7 meeting(bOth text and map). *Acres = Acres from Collier County Property Appraiser Records Maximum TDRs RV Minimum Density RV Medium Density RV Maximum Density 578 DUs 867 DUs ■306 DUs ■734 DUs MAXWELL HENDRY S:MMONS 58 Ph),sically Possible Various physical factors have an effect on the uses to which a property may be developed. These factors may include: size, shape, topography, and soil conditions. The subject property is slightly irregular in shape, consisting of an estimated 962i acres of land area. The southerly portion ofthe subject property benefits from extensive frontage along lnterstate 75 (Alligator Alley) but has no access to this highway. According to information from the Department of Army, Jacksonville District Corps of Engineers, there are a total of 126.3 acres of jurisdictional wetlands. These wetlands, in our opinion, based on preliminary conceptual plans completed by RWA Engineering, are placed in a manner which allow for a sufficient layout of a residential community. Although the subject property benefits from legal rights associated with the RFMUD-Sending Lands and the RFMUD-Receiving Lands, there are some physical constraints to the subject property in terms of access. Currently, the property is physically accessed via Whitelake Drive to Blackburn Road to the southwest corner of the subject property. l\4oreover, as perthe aforementioned Settlement Agreement, the Husseys (Property owner) deeded to Collier County 180' of right of way for the future Wilson Boulevard Extension (Blackburn Road) along the southerly line ofthe property- This land area deeded tothe County consists of 22.311 acres. ln returnfor deeding this property, the property owner received $55,795 in road impact fees which will run with the subject property into perpetuity. The property owner will be permitted to access this future Wilson Boulevard Extension for residential and agricultural uses with at least two tie in locations that permit left turns in. As per the Settlement Agreement, the property owner may be permitted access onto the future Wilson Boulevard Extension for the hauling of excavated materials which access will be subject to the conditions of any excavation permits oI conditional uses that may be obtained. The property owner entitlements to density and TDRS shall include this area dedicated to the County (22.31 acres). The subject site area is sufficient to allow for development and all legally permissible uses could be physically placed on the subject without any unreasonable hindrance. As of the effective date of appraisal, the subject property does not have utility (water or sewer) or access networks sufficient to support residential development, although extension and development of the necessary infrastructure is physically possible. The physical nature ofthe subject does not preclude any of the legally permissible uses. Based uponthephysical characteristics of this site, the legally permissible uses would be physically possible. Financially Feasible As long as a potential use has value commensurate with its cost and conforms to the first two tests, the use is considered to be financially feasible. ln contemplating the feasible uses, consideration must be given to the site location, physical features of the property and access. Many of the previously discussed factors such as lack of available roadways, utility services, wetland mitigation and environmental issues could result in higher than normal infrastructure, planning and construction costs for the subject as well as lengthened holding and absorption periods. These issues are compounded by the extremely large size of the property, the distance to more centralized urban core areas, and the regulatory and environmental challenges connected to the site. Two possible alternative future development scenarios for the subject would be for mixed use residential development or natural resource extlaction. These uses are not mutually compatible, and development of one use would most likelyexclude the other use, at leastforthe reasonably foreseeable futu re. ln terms of residential development, although there is a certain segment of any population which desires to live in a primarily rural environment, the majority of the population prefers more centrally located housing, closer to the urban core, near goods and services, schools and employment. There are several new projects in the subject market area, which have increased the amount of available inventory. The primary developments in this area consist of Ave [/aria and The Ranch at Orange Blossom. Furthermore, permitting is in placeforthe aforementioned RuralWest development. Although the most immediate physical access to the subject property at the current time is via CR951to Whitelake Boulevard to Blackburn Road, it appears a future access could also be north from Golden Gate Parkway South to the subject property. However, this access would require easements or right of way acquisitionsand a significant, potential expense. Although the traditional development patterns in Collier Countyhave been west of the subject property, as these areas are building out, areas east of 951, namely off oflmmokalee Road, are becoming favorable to the market. MAXWELL HENDRY SIMMONS 59 Considering this, the legally permissible and physically possible uses are acceptable and would not meet undue resistance in the market; however, the most feasible use appears to be for interim hold/agricultural uses to reduce holding costs, and continued holding for future development (2-5 years) as demand increases in Collier County and infrastructure and access/roadway networks become more available to the site. The highest and best use of a site is determined by the improvements that would generate the highest return to the land. ln determining the highest and best use of this property, we have considered those uses which are legally permissible, physically possible, and financially feasible. ln addition, we have considered the likelihood of regulatory changes such as zoning or land use amendments which might be reasonably expected in the foreseeable future. We have also considered the external conditions and timing associated with various development scenarios available to the subject. Based upon our analysis, it is our opinion that any type of development of the property under the current conditions would require significant investment, a lengthy time horizon, and a very high risk. Furthermore, based upon these facts, conclusions, and opinions, we believe the maximally productive use of the subject site is for interim agricultural use to reduce holding costs, and then future residential and conservation uses. MAXWELL HENDRY SIMMONS 60 Src. VI: VnlunrroN oF SueJrcr PRoprRrv THr Appnnrsnr Pnocrss There are three standard approaches to property valuation: . Cost Approach to Value. Sales Comparison Approach to Value. lncome Approach to Value Each of these three approaches usually will indicate a slightly different value. After all of the factors of the three approaches have been carefully weighed, the indicators of value are correlated to arrive at a final opinion of value. Cost Anoroach to Value The Cost Approach to Value requires estimating the replacement cost new of the improvements, utilizing current labor and material prices and modern construction techniques. Accrued depreciation is next computed and subtracted from the cost new. Finally,thelandvalueisaddedtotheremaindertoderiveavaluefortheproperty as a whole. The Cost Approach is most reliable when the improvements are new and the land value can be reasonably estimated. Conversely, when the improvements are old and/or adequate land sales are not available, the Cost Approach tends to lose credence. Sales Comoarison Aoproach to Value An estimate under the Sales Comparison Approach to Value is derived by comparing the property under appraisal with other similar properties that have sold in recent months. The Sales Comparison Approach is most reliable when the comparable sales are very similar to the subject. Conversely, when large or numerous adjustments are necessary, the Sales Comparison Approach is less reliable. lncome Aooroach to Value The lncome Approach to Value is normally applied only to commercial or strictly income oriented properties, since it measures the present worth of future rights to income. The lncome Approach to Value, when adequate income and expense data are available, is probably the most reliable approach in the valuation of commercial properties as it best represents investors'and lenders'actions in the marketplace Aporoaches Develooed As the subject of this appraisal is a vacant tract of land, we have utilized the Sales Comparjson Approach to Value considering both large vacant land sales with a similar highest and best use and an analysis of Transferrable Development Right credits. As they are not applicable to the property type, the Cost Approach and lncome Approach have not been utilized. MAXWELL HENDRY SIMMONs 61 LAND VALUATIoN (THE SALES CoMPARISoN APPRoACH To VALUE) The Sales Comparison Approach to Value is a process of comparing sales of similar properties in the marketplace to the subject parcel. Market data, when carefully verified and analyzed is good evidence of value because it represents the actions and reactions of sellers, users, and investors. The market value estimate has been defined as an interpretation ofthe reactions of typical users and investors inthe market. The Sales Comparison Approach is based on the principle of substitution, which states that a prudent person will not pay more to buy a property than it will cost to buya comparable substitute property. The price a typical purchaser pays is usuallythe result ofan extensive shopping process in which he is constantly comparing available alternatives. The steps in the Sales Comparison Approach are: Seek out similar properties for which pertinent sales and data are available. Qualify the prices as to terms, motivating forces, and bona fide nature. Compare each of the comparable properties' important attributes with the corresponding ones of the property being appraised under the general division of time, location, and physical characteristics. Consider all dissimilarities in terms of their probable effect upon the sale price. Formulate an opinion of relative value of the property being appraised as compared with the price of each similar property. Source. Appraisal /nstitute, fhe Appraisal of Rea/ Estate, 14th ed. (Chicago: Apprcisal lnstitute, 2073). As previously stated, the purpose of the appraisal is to arrive at an opinion of market value of the subject property, as if otherwise free and clear of all liens, mortgages, encumbrances, andlor encroachments as of the dateofappraisal of16June2017. Because ofthe unique nature ofthe subject such asthe large size, unique geographical features, location, lack of utilities, access issues, etc, we have used similar properties which also have many differing characteristics, which we have made every attempt to consider. The comparable sales will be analyzed primarily based upon the price per acre multiplier. This is the multiplier which is most commonly used by market participants when trading these types of properties. Because of the scarcity of sales of similar comparability in the subject geography, we expanded the search area to include other market areas. The selected sales would be considered the most similar sales available for comparison to the subject property, although significant adjustments for differences in elements of comparison would be necessary. A dataset of comparable listings will also be presented and analyzed. Comparable listings are useful in that they illustrate the competitive properties which are available in the marketplace, and might be considered as substitute properties by a potential buyer of the subject. Finally, a statistical analysis of large acreage land sales which occurred from 2OO5 to the present was used to provide historical context, and as a test of reasonableness. ln developing an opinion of market value for the subject property via the Sales Comparison Approach, we have analyzed the following comparable sales: r. 2. 3. MAXWELL HENDRY SlMMONS 62 COMPARABLELAND SALES MAP MAXWELL HENDRY SIMMONS 63 DATE OF SALE: January 28,2015 SALE PRICE: $9,765,000 SALE PR!CE(ADJUSttED): $9,765,000 RECORDING: 5116/1395 GRANTOR:Jeffrey D.Gargiulo Tr. GRANTEE: The Trust for Pub∥c Land F:NANC:NG:Cash to Se∥er TOPOGRAPHY:Pasture,native,wet!ands VERIFICAT10N:Rep.Of Grantee:Wayne Griffin FL.DEP(850)245‐2658.Brokeri Billy Ro!lins of Land Solutions(239)489-4066 SITE AREA: 27,004,151 Square Feet 6■9.93 Acres ADDRESS: 1731■lmmoka!ee Road,Naples SttRAP#: 001■3400005 SALE CONDIT!ONS:Arms―Length UTILIT:ES: We∥,rural electric and telephone ZON:NG:A―MHO LAND USE: Rura!Fringe Mixed Use District (Receiving) SALE HISTORY: Nonein p∥or 3 years ACCESS:Rural artenal H:GHEST AND BEST USE:lntenm agricu!ture UNIT OF VALUE: $0.36 PerSF $■5,751.78 perAC MAXWELL HENDRY SiMMONS 64 COMMENTS: On January 28, 2015 the property at 17311 lmmokalee Road in Naples, 619.93 acres of Land (per SWFRPL Resolution #2014-04), sold for $9,765,00O or $15,751.78 per acre. The Trust for Public Land bought the land and then transferred it to the Board of Trustees of the lnternal lmprovement Trust Fund of the State of Florida. lt was an all-cash transaction with a 90 day due diligence period which was part of the Florida Forever Program. The sale was based on two appraisals and was considered to be an armslength transaction. As of the date of sale, no additional entitlements were in placeforthe property. Thesitecould be physically developed on the 310.5 acres of uplands existing on the northerly and southerly ends of the property at the density a llowed by the existing zoning. There are significant wetlands (309.43 acres) bisecting the middle of the site which need to be preserved, as they are necessary for the active flow of water into CREW (Corkscrew Regional Ecosystem Watershed). The nearest utilities are more than a mile away (1.25 miles), and would need to be extended at the developer's expense prior to development. Additionally, traffic and concurrency issues may exist, depending on the density of development ultimately approved. Thesubjectwas purchased subject to oil, mineral and other rights per the deed. MAXWELL HENDRY SIMMONS 65 DATE OF SALE: October 06,20■5SALE PR!CE: $■5,007,956 SALE PRICE(ADJUSTED): $15,007,956 RECORD!NG: 20■5000221551 GRANTOR: RLF Corkscrew Holdings LLC,et a! GRANTEE: Pan Terra Holdings LTD F:NANCING:Cash to se!ler TOPOGRAPHY:Citrus groves VER!F!CAT:ON: Rep.of Grantee:Carlos Lopez― Cantera,Jr.(phone number confidential) S:丁 E AREA: 63,597,600 Square Feet l,460.000 Acres ADDRESS: ■9500 Corkscrew Rd STRAP#: 29-46-27‐00-00001.0000,31-46-27-00- 0000■.■000&32-46-27-00-00001.10000 SALE CONDIT10NS:Arrnls Length UTILITIES: We∥,rural electric and telephone ZON!NG:AG-2 LAND USE: DR/GR(96.92%)&Wet!ands(8.08%) SALE HISTORY: 06/20■0-$■■,500,000 ACCESS:Direct(Open Median) H:GHEST AND BEST USE:Ag/Future Residentia! UNIT OF VALUE: $0.24 Per SF $10,279 per Acre COMMENTS: This is the sale of a 1-,460 acre citrus grove located on the south side of Corkscrew Road, just west of Carter Road in Estero. There is a small garage located on the property. The majority of the site is uplands based upon the allocations of DR/GR and Wetlands as identified by Lee County. ln 2OO7 , the property owner atthe time, filed DCI 2007-00005 to rezone 600+/- acres of the subjectfrom AG-2 to lndustrial Planned Development to allow for mining operations. This was subsequently withdrawn, in 2OO7. Subsequent to the purchase, the Grantee applied for a zoning change and are seeking an MPD for 1,460 dwelling units and 60,000 sq.ft. of retail uses. MAXWELL HENDRY SiMMONS 66 COMPARABLE LAND SALE2 GRANT0R: Resource Conservation Holdings, LLC ZONING: AG-2 (subsequently rezoned to RPD) DATE OF SALE: 25 0ctober 20■5SALE PRICE: $20,000,000 SALE PR:CE(ADJUSTED): $20,000,000 RECORDING: 201500235862 GRANTEE: The Place at Corkscrew, LLC FINANCING: Cash to Seller TOPOGRAPHY: Crops, pasture, native, wetlands VERIFICATION: Grantee: Joe Cameratta of Cameratta Companies (239) 425-8662 SITE AREA: 59,296,92L Square Feet 1-,361.27 Acres 1-,325 Potential Units ADDRESS: ■750■Corkscrew Road STRAP#: 24-46-26-00001.00■O et al SALE CONDIT10NS:Arms―Length UTILITIESI We∥,rural e!ectric and telephone LAND USE: DR/GR&Wet!ands SALE HISTORY: None in prior 3 years ACCESS:Rura!artenal HIGHEST AND BEStt USE: lnterim Ag_future residential UNI丁 OF VALUE: $0.34 PerSF $■4,692.16 perAC COMMENTS: This is the sale of Corkscrew Farms by Resource Conservation Holdings, LLC (a joint venture between Youngquist Brothers Excavating and Ascot Mining LLC), located along the northerly right-of-way of Corkscrew Road, east of lnterstate 75, in the Estero market area of Lee County, Florida. The buyer was a related Cameratta Company, who will be developing the property as The Place at Corkscrew, a residential development of 1,325 units. As of the date of sale, the property was zoned agricultural, and there were no entitlements in place, however the sale was contingent on obtaining approvals which were in the process as of the date of sale. DCl2015-00004 was approved 7/8/2076 which allowed the devetopment 1,325 dweiling units. According to representatives of Cameratta, significant mitigation was required for the wetlands present on the site, and additional expenditures will be required at the developer's expense to extend utilities. Actual costs of mitigation and utility extension were not disclosed. The buyer financed the acquisition with a $15 million loan from Florida Community Bank. MAXWELL HENDRY SiMMONS 67 COMPARABLE LAND SALE3 2700 2730 COMPARABLELAND SALE4 DATE OF SALE: May■2,2016 SALE PRICE: $38,479,500 SALE PRICE(ADJUSTED): $38,479,500 RECORDING: 5273/1278 GRANTOR: Mihael」.Boran and Ronald L.Brown,as ctrusteess ofthe State Road 846 Land Trust Agreement GRANTEE: 27th/PiCO BOu!evard Linnited Partnership FINANC:NG:Cash to Se∥er TOPOGRAPHY: Mining operation VER:F!CAT10N: Broker―B∥!y Ro∥ins of Land So!ut:ons(239)489-4066 SiTE AREA: ■■2,2■0,560 Square Feet 2,576.000 Acres ADDRESS: 16000-16004 1mmokaiee Road, Nap!es STRAP#: 0020924000■,00■■3480009, 00■■3520068,00209200009 SALE CONDIT10NS:Arrnis Length UT:LITIES: We∥,rural electric and te!ephone ZON!NG:μ MHO LAND USE: Rural Fringe Mixed Use District (Receiving_■,998 acres and sending_578 acres) SALE HISTORY: None in prior 3 years ACCESS:Direct(Open Median) HIGHEST AND BEST USE: lntenm use/future residentia! UNIT OF VALUE: $0.34 PerSF $14,938 perAC MAXWELL HENDRY S:MMONS 68 COMMENTS: The is the sale of a future development parcel located on the east side of lmmokalee Road, approximately 12 miles east of l-75 in Collier County. The property is an ongoing mining operation and there are also approximately 950 acres that are leased for farm row crops and for cattle Crazing. The buyers plan to develop the property sometime in the future with a residential community. The property benefits from revenue of approximately $500,000 per year from land leases and mining income. The mining permits required approximately 580 acres to be mined to a depth of 15-20 feet. The original mining operation stripped all ofthe overburden onlyto a depth of approximately 6 feet. Redevelopment is not possible untilthe original permit conditions are met, resulting in a longer holding period, and significantly more digging necessary over the next few years. The property also benefits from unified title. There are some wetlands on the site which need to be preserved, and the nearest utilities are more than a mile away, and would need to be extended at the developer's expense prior to development. The soil types indicate 53% wetlands and 47% uplands. As part of the Settlement Agreement (Case No. 08-6933-CA and 08-6988'CA) 578 acres were changed from Receiving to Sending Lands. Earth mining and extraction are not permitted on SR846 Sending lands. Additionally, traffic and concurrency issues may exist, depending on the density of development. MAXWELL HENDRIr SiMMoNS 69 DATE OF SALE: December 2L, 2076 SALE PRICE: $1,350,000 SALE PRICE (ADJUSTED): $1,350,000 RECORDING : 207600027 3094 GRANTOR: Regwin, LLC, Schmidt Landing, LLC, and Schmidt Downs, LLC GRANTEE: Bovine Breeze, LLC FINANCING: Cash to Seller TOPOGRAPHY: Pasture, native, wetla nds VERIFICATION: Broker: Tom Woodyard or Woodyard & Associates LLC. (239) 425-6000 SITEAREA: 8,772,436 Square Feet 200.01Acres ADDRESS: 2723O-2L4O0 Corkscrew Road, Estero STRAP #: 27 -46-27-0000001.0000 & 27 -46-27 -OO- 00002.0020 SALE CONDITIONS: Arms-Length UTILITIES: Well, rural electric and telephone ZONING: AG-2 I-AND USE: DR/GR and Wetlands SALE HISTORY None in prior 3 years ACCESS: Ruralarterial HIGHEST AND BEST USE: lnterim agriculture UNIT OFVALUE: $0.15 Per SF $6,750 per AC COMMENTS: The property is an irregular shaped parcel consisting of 200.01 acres, located along the southerly right of way of Corkscrew Road, east of l-75, in Lee County, Florida. The property benefits from a licensed airstrip, and was previously in use as a helicopter repair company, with a small aircraft hangar on site. The airstrip license expires in 2077 , but could potentially be renewed. The buyer purchased the site to construct a home and has no immediate intentions to develop the site beyond that. The property has no additional entitlements. No gas, oil, or mineral rights were transferred to our understanding. According to Lee County. 727.05 acres is in the DR/GR and 78.96 acres is classified as wetlands. MAXWELL HENDRY SiMMONS 70 COMPARABLE LAND SALE5 DATE OF SALE: ln Negotiations SALE PRICE: $42,400,000 SALE PRICE (ADJUSTED): $42,400,o0o RECORDING: ln Negotiations GRANTOR: lnvestors Warranty of America GRANTEE: Lee County FINANCING: cash to seller TOPOGRAPHY: wooded VERIFICATION: Billy Rollins, Land Solutions and Lee County-County Lands SITEAREA 770,777,159 Square Feet 3,906.730 Acres ADDRESS: Corkscrew Road/lnterstate 75 STRAP #: 02-47 -25-0O-00OO2.0000 SALE CONDITIONS: arm's length UTILITIES: electric and telephone ZONING: AG-2 ISND USE: DR/GR SALE HISTORY: none in pastthree years ACCESS: approx. l mile HIGHEST AND BEST USE: agricultural/future development UNIT OF VALUE: $0.25 Per SF $10,853 per AC COMMENTS: This property is currently in negotiations between the property owner and Lee County for the Conservation 2O2O program. The property is located along the easterly right-of-way of lnterstate 75, south of Corkscrew Road and north of Bonita Beach Road in the Bonita Springs-Estero market area of unincorporated Lee County. This property consists of 3,906.73 acres of which 2,801.65 acres is identified as wetlands with an additional 27 acres of other surface water present on the site. The property has legal access via a 6O' ingressr/egress easement from Corkscrew Road. MAXWELL HENDRY SIMMONS 71 Analvsis of Comoarable Data The Sales Comparison Approach is dependent on "...adjustments to the sale prices of the comparables based on the elements of comparison." The Appraisal lnstitute outlines ten basic elements of comparison to be considered: 1. Real property rights conveyed 2. Financing terms 3. Conditions of sale4. Expenditures made immediately after purchase 5. Market conditions 6. Location 7. Physicalcharacteristics 8. Economic Characteristics 9. Use 10. Non-realty components of value For ease of analysis, we have divided this list into two parts. This division is based on the type of adjustments made for the differences. Elements 1 - 5 are considered to be transactional adjustments, whereas elements 6 - 10 are considered to be physical adjustments. Transactional Adiustments There were no transactional adjustments warranted for Property Rights Conveyed, Financing Terms, Conditions of Sale, and Expenditures lvlade lmmediately after Purchase for these sales. ln considering Changes in Market Conditions since the time of sale, we must consider the significant changes in the Southwest Florida real estate market. The property va lue trend found throughout Southwest Florida changed drastically over the past decade, with substantial increases during th e period of 2OO2-2005, followed by equally substantial declines during the period of 2006-2009 and this declining trend reversed in 2012. Thecomparable sales have been adjusted at O.50% per month for market conditions. This is partially supported bya paired sale analysis of Sale No. 2 which was previously presented. Thissalesold in June 2010 for $ 11,500,000 and again in October 2015 for $15,007,956. This was an increase of 30.50% over a period of 64 months, which equates to 0.48% per month. ln addition, accordingtothe most recentannual report on agricultural landvaluesbythe United States Department of Agriculture, properties similar to the subject (Pasture) statewide increased by an average of 4.1%in2016. Ontheotherend ofthe spectrum, Collier County median residential home prices have increased (see Page 11). Considering these benchmarks, and the highest and best use of the subject, it is our opinion that a 6.0% increase per year would be reasonable for this analysis. Phvsical Adiustments We also considered the following physical adjustments to the comparable sales. A brief description of the nature of these characteristics is provided below. Location: Location refers to the economic attributes of the surrounding market area, drive times, proximity to goods and services, etc. These attributes affect the financially feasible uses of the site, and can also be one of the most significant factors affecting value and desirability. The subject property is located in the eastern portion of Collier County in a rural area somewhat removed from most support facilities. The comparable properties are likewise in less developed areas of either Lee County or Collier County. Sales land 4are both located in eastern CollierCountyon lmmokalee Road. These properties, although located in a rural area of Collier County, are considered superior given the significant development in proximity to these sale properties. As such, downward adjustments were applied to these two sales. Similarly, Sale 6, which is a property in negotiations with Lee County, is in a superior area of Lee County surrounded by residential and more intensive commercial uses. A downward adjustment was applied to this sale. The remaining sales were considered similar in terms of location. MAXWELL HENDRY S:MMONS 72 Exposure (Frontage): This refers to the exposure to the fronting thoroughfare (i.e. - capacity/traffic count). The subject has exposure to lnterstate 75, but no access to this highway. Sales 1 and 4 have much greater exposure to a superior roadway of lmmokalee Road with greater surrounding development. The remaining sales were located on Corkscrew Road with similar exposure with the exception of Sale 5 which was slightly inferior. Access: This refers to the accessibility of a property (i.e. - frontage road vs. direct frontage, existence of median cuts, etc.). The subject property has limited access as of the date of valuation. lt is our assumption there would be access along Blackburn Road which would need to be developed at the cost ofthe property owner. This roadway is one mile from the southeast corner ofthe subject property. We have considered publications from the Florida Department of Transportation as well as other sources, which indicated an approximate cost for one mile of a two lane road with 5' paved shoulders at $2,000,00O. All of the comparable properties, with the exception of Sale 6, have direct access and were adjusted downward. Sale 6 had a similar need to develop a roadway for access. Size (Site Area): Larger parcels often sell for a lower price per unit, while smaller parcels typically sell for a higher price per unit. This attribute affects the physically possible uses of thesite, aswell asinitial acquisition costs, capitaloutlays, and economies ofscale. The sale properties range from 20O.O1acres to 3,906.73 acres compared to the subject's 962 acres. Adjustments were made for each of the sales for size. Topography: This refers to the physical condition ofthe property, such as if the property is cleared or if there are significant changes in elevation. OnlySale4 required a downward adjustment for topography as the property was partially cleared and mined. External, Environmental lssues and existing use: This refers to any physical influences on property value. These could include negatives, such as close proximity to a garbage disposal site, or positive, such as proximity to a beach. This could also include site conditions that preclude and/or restricts development, such as the presence of jurisdictional wetlands or protected species. No adjustments were warranted. Sale 6 required an upward adjustment given the wetlands on the property. Shape: This refers to the shape or orientation of the property which might impact the development potential ofa property. Forexample, a property which isa long, but relatively thin, rectangle mayhave difficulty being developed due to setback requirements. All properties were similar in term of shape and utility. Utilities: The presence or absence of certain utilities can severally impact the physically possible uses of a site, the second test in the analysis of Highest and Best Use (i.e. - the absence of central sewer may prevent intensive development). Thiscan also indicate what future expenditures will be required, which can have an impact on how much a potential buyer would be willing to pay to acquire the land. All of the comparable properties required significant utility extensions similar to the subject and, as such, no adjustments were necessary. Zoning/Future Land Use: Zoning and Future Land Use directly determine the legally permissible uses of a site, the first test in the analysis of Highest and Best Use. Since these governmental controls directly influence the highest and best use, and the eventual return on investment a buyer would expect, this characteristic can also often have a significant impact on value. A downward adjustment was made to Sale 3 as there was certainty at the time of sale that a density of 1,325 units was available to the site. This was a superior condition to the subject property. The following is a summary of the sales as well as the adjustments applied to each: MAXWELL HENDRY SIMMONS 73 MAXWELL HENDRY SiMMONS 9lc^iSng hi€: S場 752 1t5752 320000000 S42‐000細 ヽ479500 |■360000 bunty: GrB b6 (SbI &t0cm6nB ZonrnC: bd U$r Hrghest and Best Use: {Fd k.} (F.r Aset lgncuture7Fじ ure Devdopmen Aglに unuЮ /Fumに Devdopmem ttCJu11鼎 li,uure AgК umr″Fumre Devdopment tt Cunuに /Fumに Devdopmem Unadjust.d Prico p.r (P6r Acre):St0 279 St4.692 l14938 崎750 颯750 S17,091 ●11.307 116161 S15909 a@re (froG€.): Sizc (SE k@): €&rndl, EnYiron, U*: Utlit6: 74 Primary Analysis of the Comparable Land Sales - Per Acre Analysis The following constitutes our analysis of the comparable sales: Sale Price per Acre S18,000 S16,000 S14,000 S12′000 S10,CЮ0 saooo saocDo St000 S2,000 SO Com,r;rai;k, Lr:nrp;ral:lr, ( r:nrp,irabie (cnrpar*ble f c:nrp.rrable (orlp,,lrabl+ ttlo 1 No .r No. I No. .:l No 5 No 6 I Lliuiljusterl Priteper Aire *!\l.rrkolAtiji-istrci Priiei:erAir., rA(ljirstsrl PrirePr,r/rirr The above chart illustrates the sale prices per acre for the comparable sales in blue. The orange bars are representative of the adjusted sale price after transaction adjustments (market conditions/time). The green bars represent the adjusted, indicated values for each of the comparables. ln addition, the shaded area on the back wall of the chart is representative of the value range which would be most likely for the subject based upon this dataset and our adjustments. Prior to any physical adjustments, the comparable sales range in value from $6,918 per acre to $17,091 per acre, with an arithmetic mean of $9,341.64 per acre. The comparable sales also indicated a median price of $13,608 per acre prior to any adjustments based upon the units of comparison. After adjustments, the sales indicated a value range from $6,227 per acre to $12,929 per acre. The following is a summary of the descriptive statistics for the sale properties: ri Multiplier: Mean: Median: Standard Deviation: Mininum Maximrm Market Conditions Price per Acre: $■3,039.92 S■3,608.00 $3,990.96 $6,9■8.40 S■7,090.68 $■0,■72.28 Fu∥y Adjusted Price per Acre: $9,578.92 $9,772.■7$2,23■.3■ S6,226.56 $■2,929.■0$6,702.54 MAXWELL HENDRY SiMMONS 75 Description of Sales Sale 1 is the January 2015 sale of a vacant agricultural parcel located on the west side of lmmokalee Road in northeast Collier County. The property sold for $9,765,000 or $ 15,752 pet aue. This sale, along with all of the sales, was adjusted upward 0.50% per month or 6.00% per year to account for increasing values for these property types in the ma rket wh ich resu lted in a transactionally adj usted price of $ 17,091 per acre. Th is property also required a downward adjustment for access. The comparable property is located directly on lmmokalee Road which is superior to the subject's requirement to extend a right of way a minimum of one mile from the subject. We have estimate this adjustment based on cost estimates for extendinybuilding a road. This property was considered superior in terms of its location on the more developed lmmokalee Road. This property has a similar lack of utilities which would have to be extended a similar distance as needed by the subject. The site is similar in terms of topography, environmental conditions (50% wetlands), shape, and zoning, and little or no adjustment would be required for these elements of comparison. The final adjusted value indication is $8,463 per acre. Sale 2 is the October 2015 sale of a vacant agricultural parcel located on the south side of Corkscrew Road in southeast Lee County. The property sold for $15,007,956 or $10,279 per acre. After adrusting for market conditions, this sale had an adjusted price of $11,307 per acre prior to physicaladjustments. This property also required a downward adjustment for access. The comparable propeny is located directly on Corkscrew Road which is superior to the subject's requirement to extend a right of way. This property was considered similar in terms of its overall location and has a similar lack of utilities which would have to be extended a similar distance as needed by the subject. Significant portions of the site have been cleared and developed with groves, roads and drainage, which is overall similar in terms of environmental and topographical elements of comparison. The final adjusted value indication is $9,235 per acre. Sale 3 is the October 2015 sale of a vacant agricultural parcel located on the north side of Corkscrew Road in southeast Lee County. The property sold for $20,000,000 or $14,692 per acre. After adjusting for market cond itions, th is sa le had an adjusted priceof $16,161 peracre priorto physical adjustments. This property also required a downward adjustment for access. The comparable property is located directly on Corkscrew Road which is superior to the subject. This property was considered similar in terms of its overall location and has a similarlackof utilitieswhichwouldhavetobeextendedasimilardistanceasneededbythesubject. The property is superior to the subject in terms topography and environmental conditions and was ad.justed downward for these elements of comparison. A downward adjustment for zoning/land use was necessary given the comparable's density of one unit per acre. The final adjusted value indication is $12,929 per acre. Sale 4 is the lvlay 2016 sale of a vacant parcel located on the east side of lmmokalee Road in northeast Collier County. The property sold for $38,479,500 or $ 14,938 per acre. After adj usting for ma rket cond itions, th is sa le had a n adjusted price of $ 15,9O9 per acre prior to physical adjustm ents. Th is property a lso req u ired a downward adjustment for access. The comparable property is located directly on lmmokalee Road which is superior to the subject. The property, at 2,576 acres, was significantly larger than the subject and required an upward adjustment on a per acre basis. This property was considered similar in terms of lack of utilities which would have to be extended a similar distance as needed by the subject. The site also benefits from ongoing mining operations which are generating income in the interim and reducing holding costs. The parcel was purchased with the intent of residential development, and the requirement to finish the mining permit, while beneficial in terms of providing interim income, has also delayed the ability to redevelop the site in the near term. With that being said, consideration is given to the interim income being generated by the sale property, and a downward adjustment was made. The final ad.iusted value indication is $10,309 per acre. Sale 5 is the December 2016 sale of a vacant parcel located on the south side of Corkscrew Road in southeast Lee County. The property sold for $1,350,000 or $6,750 per acre. After adjusting for market conditions, this sale had an adjusted price of $6,918 per acre prior to physical adjustments. This property also required a downward adjustment for access. The comparable property is located directly on Corkscrew Road which is superior to the subject. The property, at 200.01 acres, was significantly smaller than the subject and required a downward ad.justment for size on a per acre basis. This property was considered similar in terms of its overall location and has a similar lack of utilities which would have to be extended a similar distance as needed by the subject. Some portions of the site have been cleared and developed with an airstrip and roads, and there are 39.5% wetlands on the site. Thefinal adjusted value indication is$6,227 peracre. MAXWELL HENDRY SIMMONS 76 Sale 6 is a property known as Edison Farms located south of Corkscrew Road with direct exposure to lnterstate 75 similar to the subject. The property is currently in negotiations between property owner and Lee County with Lee County offering $42,400,0O0 or $10,853 per acre. The property owner is asking $49,00O,000 or $12,542 per acre. Although this property is not a closed transaction, the property is publically being negotiated. The property has several factors which are extremely similar to the subject such as the need to extend a roadway over one mile along with utilities. Moreover, the Edison Farms property has extensive frontage on lnterstate 75. This property was considered superior given its location with close proximity to Corkscrew Road and lnterstate 75 and, as such, a downward adjustment was applied. Furthermore, an upward adjustment for size was necessary as this property was 3,907 acres compared to the subject at 962 acres. The Edison Farms property had wetland area greater than the subject and an upward adjustment for topography was considered. The final adjusted value indication is $10,310 per acre. We have also analyzed a number of listings of properties available in the marketplace which might be considered as substitute properties bya potential buyer ofthe subject. This is done as a test of reasonableness to the value as derived through the per acre analysis. Alternative data such as listings can provide additional support when abundant sales data is not available, or additional support is desired for unique properties such as the subject. This analysis is presented as follows: ∥AXWELL HENDRY SIMMONS 77 ln addition to the prior dataset of comparable sales, we have also researched the market for listings of properties which would be competitive with the subject. The following chart illustrates the actual asking prices-of the comparable listings as well as the price after a listing price/sale price adjustment: Asking Price per Unit S14′000 S12ρ ∞ S10′鰤 S3000 ScOCD S■000 S2,000 50 Listing No l Listing No. 2 Listing No 3 Listing No. 4 I : .- I i , : I ,i ,:: i 1 As in the prior chart, the green area is representative of the range in which one might expect to see a similar property. The anticipated range would be from approximately $8,000 per acre to $14,000 per acre, exclusive of any adjustments. The table below shows the value indications: L:sting No.Locatl on OfferlnE Pr!ce S12●(Acres〕S12e(SF)Prlce per Acre Aklng Prlce per unit Price per Acre after a LP/SP AdJustntent Listing No■2690■Zer"I Road,Punta Corda S3,900,000 33800 ■4,723,280 S■■.538 S■■,538 $9,808 Listing No 2 Stolle Rarch, North Fort Myers S27,550,000 275500 ■20,007,800 $■0,000 S■0,000 S8,500 Listing No 3 4697 0il We∥Road,Na口 es(Winchester)S9,250,000 65400 28,488,240 S■4,■44 S■4,■44 S■2,022 Listing No 4 lvlcDaniel Ranch. Clewiston $40,000,000 400000 ■74,240,000 S■0,000 $■0,000 $8,500 The comparable listings include properties for sale throughout the region which would be comparable to the subject. These are properties that a potential investor who was'interested in the subject property could consider as alternatives. Because the comparables are listings, it would be reasonable to assume that a negotiated closed sale price might be somewhat less that the offering price. This is referred to as a list price/sale price ratio. Typical LPISP ratios range from 65% to 95% and, in this case, after analyzing the difference between list and sale pricing of the comparable sales, it is felt that a reasonable LPISP adjustment for properties of this type would be approximately 85o/o. After this adjustment, the range is reduced to approximately $8,500 per acre to $72,022 per acre, and the mean of the comparable listings is $9,707 per acre. We also considered other listings such as 8100 Collier Boulevard ("Rockledge") and 9220 Collier Boulevard ("Willow Run"). However, these are far superior to the subject property and not considered relevant. Finally, we have also conducted a statistical analysis of historical sales which would be similar to the subject from 2005 to the present. This historical data is useful in establishing sale pricing trends, as well as low and high benchmarks for properties similar to the subject. This analysis is presented as follows: MAXWELL HENDRY SIMMONS 78 Large Acreage sales 2005- Present (per Acre) Analvsis of the Historical Sales Data The following chart illustrates the sale prices of comparable properties from 2005 to the present: As can be seen in the chart, values for large acreage parcels of agricultural and future development land were at a peak on the 2005-2006 time period, then declined, consistent with the downturn in the overall economy from 2006 lo 201,1,. Values remained depressed for these types of properties for several years, and now appear to be trending upward. Between late 2010 and 201-4, there were no sales greater than $10,000 per acre in this dataset, but since that time values have pushed upward, with several sales nearing or exceeding $15,000 per acre. All of this is consistent with what was seen in other segments of real estate and the overall economy. Over the past several years, the majority of sales appear to fall between $3,500 and $1-5,O00 per acre. The historical sales used in the statistical analysis consisted of a dataset of 59 sales which occurred from 2005 to present. The dataset ranges in value from $1,561 per acre to $24,313 per acre with an arithmetic mean of $8,959 per acre. The sales ranged from approximately 200 acres up to 36,000 acres. ln general, these sales were large agricultural tracts or undeveloped land, which had highest and best uses from conservation lands to future residential development. The higher sales per acre typically represent properties with greater density potential. Based upon this evidence, we would expect a property such as the subject to exhibit a value within this range. Value Conclusion Because of the large size and complexity of issues associated with the subject and the data used, many factors were considered in the development of our value opinion. Of primary importance were the challenges with future access and the capital outlays which would be required for access, extension of utilities, site development expenses and the holding costs during the process. These all represent significant uncertainty and risk to a potential buyer of the subject. However, the availability of potential development rights by zoning and by TDR credits represent positive characteristics of the property. Therefore, given all of the previously presented evidence, it is our opinion that the market value of the fee simple interest in the subject property as of 16 June 2017, would be $8,500 per acre to $9,000 per acre. This value range is exhibited by the comparable sales after transactional and physical adjustments, and also within the range exhibited by the comparable listings. The historical sales also support this value. lt should also be recognized that properties near the upper end of the range tend to have higher density, road frontage, entitlements or development potential. MAXWELL HENDRY S:MMONS 79 2015 2016 Therefore, the value of the subject property via the sales comparison approach is as follows: Slte Are8 (Acres)Price per ACre Land Value 962 S8,500 $8,■77,000 962 S9,000 $8,658,000 lndicated Value $8,400,000 Given the unique nature of the Transferrable Deve!opment Right(TDR)program in Co∥ier County,we have a:so consider an analysis of the subject property based on sales of TDR credits. According tO cO∥ier County Government, Growth Management Department, the 384 acres located within RFヽ lUD―Sending has a base density by right Of 9 dwe∥ing units(384 acres/40 units per acre=9.6 dwe∥ing units rounded to 9 dwe∥ing units). :n total,inc!uding base TDRs and bonus TDRs,the sending area cOuld potentia∥y have 230.4 TDR credits. The fo∥owingis a breakdown ofthe subJectlands located in the RFMUD―Sending!ands along with the estimated base density a∥owable: The following is a breakdown of the potential TDRs which could be achieved on the subject property according to Collier County Government, Planning Department: Base TDRs Earけ Entry TDRs RMP TDRs' Conveyance TDRsカ カ 76.8 76.8 76.80 230.4 *Restoration and Maintenance Plan potential bonus TDR credits ''Conveyance TDRs are assumed to be O as there is no acceptab!e entity wi:ling tO assumeownership and rnanagement responsib∥ny in sending in this area. ln addition, a total of 578 acres of the subject property is located within RFMUD-Receiving Lands. According to Collier County Government, Planning Department, the subject property has a base, allowable density of 115 units (578 acres/5 units per acre = 115.6 units rounded to 115 units). Furthermore, the property has a potential density of 1 unit per 1 acre by maximizing TDR credits. The property could achieve 578 dwelling units by acquiring TDR credits from Sending Lands. Moreover, if the property is developed as a Rural Village (RV), there would be a potential for a minimum density of 1.5 dwelling units per acre up to a maximum density of 3 dwelling units per acre. The following is a breakdown of the subject parcels located within the RFMUD-Receiving Lands as well as the estimated potential TDRs on the subject property with and without a Rural Village: Fo!io#OwnerSTR #Acres★★#Acres★Base Density por 0034■960003 HUSSEY」R,FRANCiS D&MARY P 32 49 27 ■87.5 por.00342040003 HUSSEY」R,FRANCiS D&MARY P 32 49 27 ■875 TOTAL 375 384 96=9 DUs ★Acres=This is the number of acres identried in the ExecuJve Summaryto the Board of Counv CommiSSiOners for May 23, 2017 meeting(bOth text and map). 十=Acres=Acres from co∥ier County Propeny Appraiser Records Folio#OwnerSTR #Acres十 ★#Acres'Base Density 00328560002 HUSSEY」R,FRANCIS D=&MARY P 29 49 27 260 0033■320006 HUSSEY」R,FRANCIS D=&MARY P 29 49 27 ■000330480002 HUSSEY」R,FRANCIS D=&MARY P 29 49 275 00328640003 HUSSEY」R,FRANCiS D=&MARY P 29 49 27 10 00329240004 WINCHESTER LAND LLC 29 49 275 00330840008 SEAN MEADE HUSSEY TRUST 29 49 275 por. 00341960003 HUSSEY」R,FRANCIS D=&MARY P 32 49 27 ■39.5 por. 00342040003 HUSSEY JR,FRANCIS D=&MARY P 32 49 27 139.5 574 578 ■■5.6=■■5 DUs 十Acres=Thisis the number of acres identried in the Execuuve summaryto the Board of Counv CommiSSiOners for May 23, 2017 meeting(bOth text and map). ★★Acres=Acres from co∥ier county Propeny Appraiser Records MAXWELL HENDRY SIMMONS 80 Maximum TDRS RV Minimum Density RV Medium Density RV Maximum Density 578 Dus 867 Dus ■306 Dus ■734 Dus As shown above, there are variables which could increase or decrease the potential TDR credits but, in our opinion, the most probable density would be a total of 578 dwelling units on the entire subject property or a density of 1 unit per acre of Receiving Lands. Although it is possible that a greater density could be achieved, this would require approval via a PUD (Planned Unit Development) process which would require public input and ultimately, approval from the Collier County Board of County Commission. Approval of 578 dwelling units is a more probable development option which is achievable with TDR credits. The most lakely scenario would be the use ofthe potential TDR credits from the sub.lect's SendingLands. As shown above, theSending Lands would have a potential of 230 TDR credits broken down as 76.8 Base TDRs, 76.8 Early Entry Bonus TDRs, and 76.8 RNIP (Restoration and N4anagement Plan) Bonus TDRS. lt should be noted the Base TDRS and the Early Entry Bonus TDRS would be a relatively straight forward process which would require some expense on the part of the property owner, but not extensive. The RMP Bonus TDRS would require an RMP for the subject property which may be a more costly process with no guarantee of success. Albeit, in our analysis, we are considering the Sending Lands of the subject to have 230 TDR credits and will value these units assuming the potential for an RMP but no plan in place. As estimated, the Receiving Lands have a most probable development of 578 dwelling units based on a density ofone unit per acre if TDR credits are acquired. Byright,the Receiving Lands have 115 dwelling units (1 unit/ 5 acres) and, therefore, the required TDR credits would be estimated as follows: Potential Dwelling Units (DU) Less: DU by right Credits needed for development 578 1,75 463 A most likely development scenario and requirement of the Settlement Agreement would be a transfer/acquisition ofthe subject's TDR credits from the Sending Lands of 230. Assumingthese potentialTDR credits are severed from the Sending Lands, the number of remaining credits needed to be acquired "off site" would be 233 and is summarized below: Credits needed for development Less: Potential TDRS from Sending Lands Credits to acquire for 578 DU 233 ln order to estimate the value of the TDR credits in the Sending Lands, consideration was given to actual TDR sales in Collier County. The sales include both Base TDR credits and Bonus TDR credits. We have also surveyed potential TDR sellers who are listed on the "Collier County TDR Credits - Sellers List". The Sellers interviewed all stated that although the Base Units are required to transfer with a sale price of $25,0O0 per credit, the market typically blends the cost of the Base and Bonus credits and sells both types of credits in a transaction. ln our analysis, we are estimatinga blended value ofthe Base and Bonus creditsforthe subject property. Thefollowing TDR sale transactions in Collier County were considered in the analysis: 463 230 MAXWELL HENDRY SIMMONS 81 TDR SATES Sevecnce PLf Entity orOwnerotTDR5 PU0120@0860 Baucr Foundation AR-8655 Eauer Foundation Total PL2O120@0850 Wilton Land Company Total PL20,jl(m0@3 H & LDventure, LLC Tot.l PL20B(ru199E Baroh Colli.r lnvestments, IIC PL20090mO8Bl I Tom L. g.ntic P120090qD858 8ob Sull.rd P120090000850 Heidi lck.r PL20O90@0865 I Patricia Reardon Pt20090@0855 N@lla Rusrell Total To Entity of TEnsfer/Redemption SFI Naples Reserve (Naples Reserye PUD) SFI Naples ReseNe (Naples ReseNe PUD) Hacienda Lakes, IIC (Hecienda Lakes PI,JD) 5D, san Marino, LLC (Srn Madho Pt,O) Pulte ltom. Corpoction (Golf Club of the Everylades) Pulte Home CorpoEtion (Golf Club of the Everylades) Pulte Home CorpoEtioh (Golf Club of the Everglades) Pulte Home CorpoEtioh (Golf Club of the Everglades) Pulte Home CorpoEtion (Golf Club of the EverBlad.s) Pulte Home CorpoEtioh (GolfClub ofthe Everglade5) ●of Base Credits 44 96 20948 31954 Considentlons Pald Base Sl.14000 50 51,14m SS.23フ ′000 55,23フ ′000 Sフ 9■750 S,9■750 50S7,m Sl丸 000 S2,000 Sl∝000 55Q000 卸■000 Considera∥ons Pald Bonus S376,0∞ SO S37●αЮ St“z400 S■ “ z400 S263.150 S263,150 St諄 12∞ S5フ ′α)0 Si14.000 S23′000 S鴫 000 S46′mS2242∞ Total Paid pe.IDR 95.35s 51'm0 $14@0 sl'm s12,(m s12,m0 S12,@o s12,q)0 S12.@o S14,034 Tota Considera●ons Pald S■夕∝1000 NewowneracquiredprOpertyfromTDRsevered Partof S■5鴫 0∞ S●2,1400 50284輌 S■06■900 Sl.06■9m St8%2∞ S132.0∞ S2軋 000 鍋lXXl S18Q∞0596000 S2642∞ MAXWELL HENDRY SIMMONS 82 Moreover, we have considered the Rural Fringe l\4ixed-Use District Restudy White Paper which states "The Rural Fringe Coalition combining a base TDR with a bonus TDR results in a current market average price of $13,500 per TDR." Considering these sources, we have estimated the value of a RFMU - Sending Lands credit at $14,000. ln this analysis, we have applied the value of these units to our subject property in terms of the value of the potential units and the cost of the units which would be required to be purchased to achieve the density of 578 units on the subject property. The following is a summary of this analysis: 578 unts(Receiving)@$■4,000/unt +Value of 230 TDR credits in Sending Lands(230 xS■4,000/unit) ―Cost of TDR units needed(463x$■4,000/unt) Value of ReCeiving Lands and Sending Land TDRs = $8,092,000 = $3,220,000 = ―$6,482,000 = $4,830,000 ln addition to the value of the TDR credits in the Sending Lands and the value of the Receiving Lands, we must also consider the value of the remainder or "severed" land of the Sending Lands. This property will have 384 acres which have some rights for agricultural (as existent at date of transfer of TDR), cattle grazing, passive recreation and low density residential (1 univ4o acres). A buyer of the subject property would consider the value of this severed property. We have estimated the value of this component at $4,500 per acre based on the following sales of agricultural/low density properties (complete sales data can be found in the addenda): MAXWELL HENDRY SlMMONS 83 As shown above, these four sales, prior to adjustments ranged from $3,645 per acre to a high of $7,960 per acre. The sales considered forthe "Sending" lands of the subject as though severed were all sales with a highest and best use for agricultural purposes and/or were being utilized for farming purposes. Sale 1 was sold with an active farm which is superior to the subject property. Sale 3 was also sold with a farm but the majority of the grove was in poor condition and the buyer replanted after the sale. Sales 2 and 4 were considered pasture land in rural areas of Southwest Florida. The subject land, as though severed of TDR credits, would most likely be used for agricultural (cattle grazing), passive recreation, or low density residential purposes. These sales, although somewhat different geographically, are good indicators of value for these type properties. MAXWELL HENDRY SiMMONS 84 'ransaction Data: Date of Sal e: Sale/Usting Pric€: Sale/Listing Price Adjusted): ,hysical Data: Street Address: Oounty: Gross Sq. Ft. (Site): Gross Acres (Site): Shape: Topography: Entitlements: Utilities: ise Data: Zoning: Land Use: Highest and Best tjse: ;ales Price Anslysis: Unadjusted Price per tcre 'ransactional idjustments: Financing Terms: (Per Acre): Conditions of Salei (Per Acre): Expenditures After rurchase: (Per Acre): Market Conditions (t me): Mar 17 Sl.500,000 $1,5CK1 0DЭ Nov-16 S616,000 $616 0CO Oc●15 $550,000 $550000 west of Pr ng e Lane Colller 5610528 12880 Rectangular old farm land None Rural A MHO―RSLAO CS9ST Agrに uLuraソ Rural M挟 ed use D stict Agncuに ure/Future Deve opment Nov-15 $■075,000 S1075000 K rby ThOmpsOn Road Hendry 12847586 294 94 Rectanglllar pasture None Rurat 3440 SR 82 Colller 8737780 m50 Rectangular farm iand None Rural SIater Road Lee 3371108 7739 Rectangular patta∥y clear None Rural AG‐20pen tands Agriculture S7,960 A―MHO―RLSA0 Agicuiture/Rural M挟 ed use District Agr cu ture $7,48■$4,270 33,645 00% $7,481 00% $7,481 00% $7,481 15t。 00% $7,960 00% $7,960 00% $7,960 35(る 00% S4,270 00% 54,270 00% $4,270 100% 00% $3,645 00% $3,645 00% S3,645 95% ,larket Adjusted Price rer Acre $7,594 38,238 S4,697 $3.99■ ,hysical Adjustments: Location: Exposure (Frontage): Access: Size (Site Area): Topography: External, Environ, Use: Shape: UtiliUes: ZoninglLand Use: 1000% 00096 ‐15 CC% ‐5.00% ‐1000% 00096 0 CKl% 00096 0 CKl% 500% 0006 ‐15∞%‐100096 00C% 0006 00Э%0臨 0∞%1000% Q∝%000% ‐10鰯 000% Q鰯 000% 0協 000% 1500・.00096 0∞%00096 0∞%00096 0∞%Q鰯 0∞%let Adjustment:‐20.0096 .200096 10:00%■5∞%tDJuSTED PRICE 36,075 $6,69■S41697 34,590 Adjustments were considered for location, exposure, access, size, topography, environmental,/use, shape, utilities, and zoning/land use. All of the properties were located in inferior areas of Collier, Lee, or Hendry counties and upward adjustments were made to the sales for this factor. Although some of the sales had exposure to major roads such as SR 29 (Sale 1), given the use for agricultural, recreation, or low density residential, exposure is considered similar for all properties. Sales 7 and 2 which had a sale price per acre of $7,481- and $7,960, respectively, were both located on paved roads with superior access. Sales 3 and 4 were located off dirt roads with similar access to the subject property and sold for $4,270 per acre and $3,645 per acre, respectively. No adjustments for access were necessary for access on Sales 3 and 4. ln terms of size, downward adjustments were made to Sales 1 through 3 which were smaller than the subject remainder parcel of 384 acres. Lastly, a topography adjustment was made to Sale 1 which had an active grove on the site and was considered superior to the subject property. After adjustments, the agricultural/low density sales range from $4,590 per acre to $6,391 per acre. These sales are all in inferior areas compared to the subject property but have characteristics such as agricultural or low density future development that make these sale good indicators of value for the subject, as though severed of TDR credits. After considering these sales, we estimate the market value of the 384 acres as though severed of TDR credits to have a value of $4,500 per acre which can be shown as follows: Site Area (Acres)Prlce per Acre Land Value 384X $4,500 $■,728,000 Rounded $■,730,000 After considering the value of the severed/remainder property, we estimate the entire value as follows: Value of Receiving Lands and Sending Land TDRs Plus:∨alue of severed land in RFMU―Sending Lands 384 acres@$4,500/acre TOTAL INDICATED∨ALUE = $4,830,000 = $1,730,000 = $6,560,000 As an additional analysis, we compare the two sales properties (Sale 1 and Sale 4) located in Rural Fringe Mixed Use District to the subject on a per potential unit basis. Sale 1 is completely in the RFMU - Receiving Lands. The property consists of 620 acres and by right has 724 potential units (620 acres/S). By purchasing TDR credits, the property could potentially achieve a density of Tunil/7 acre or 620 units. As the property has 724 units by right in the RFMU - Receiving Lands, to achieve 620 units, a total of 496 TDR credits (620 - 124) would need to be acquired. Sale 4 consists of 2,576 acres of which 1,998 acres are in RFMU - Receiving Lands and 578 acres are in RFMU - Sending Lands. The property has a potential for 1,998 units (1 unit/1 acre). By right of zoning, the RFMU - Receiving Lands have 400 units (1,998 acres/S). The Sending Lands have the potentialfor 462 TDR credits leaving, 1,136 credits which would need to be purchased off site to achieve 1,998 units. We have added the cost to achieve a density of 1 unit per 1 acre on these two sales to derive an adjusted price per potential unit. From this adjusted price per potential unit, we adjust a similar deduction as concluded in the per acre analysis of -50.60% and -31.50%, respectively. The following is a summary of this analysis: MAXWELL HENDRY SiMMONS 85 Price per unit Analvsis SALE■ sALE 4 Potential Dwe∥ing units(DU)wlth TDR 620 ■,998 DU byr[ght of zOning ■24 400 DU from Sending Lands o 462 TDR credits needed to achieve density 496 ■,■36 Cost of TDR―per unit s■4,000 S■4,000 0ost of TDR―total s6,944,000 S■5,904,000 Sale Price $9,765,000 S38,479,500 Cost AdJ Sale price s■6,709,000 S54,383,500 Cost Adl price per acre S26,953 S2■,■■2Cost AdJ price per potential unit s26,950 327,2■9Less:Physical Adjustments 50 60% ‐3■50% indicated Value Pe7 POtentiai unit $■3,3■286 S■8,64582 As shown aboVe,the adlusted value per unit after acquiring TDR cred ts to achieve■unit/■acre dens ty was $13,313/unit and$■8,646/unit COnsidering these twO sales,we estimate a market value of$■6,000 per unit on the sublect assuming a∥TDR credlts are in place for a dens ty of 578 units From this value,we deducted the costto achieve 578 units on the sublect and the value ofthe severed Sending Lands as fo∥ows: Potential units 578 Value per unit s■6,000 Subtotal $9,248,000 Less:Cost of TDRs needed ‐$3,262,000 1ndicated Vaiue $5,986,000 Plus:Value of Severed Sending Lands S■,730,000 :NDlCATED VALUE S7,7■6,000 MAXWELL HENDRY SIMMONS 86 Src. Vll: RrcoNCrLrATroN or OprNloNS or Vnlur Sales Comparison Approach to Value $8,400,000 Value considering TDRS $6,560,000 Value analyzing on a per unit basis $7,716,000 ln the analysis, we considered a Sales Comparison Approach utilizing sales of large properties in south Lee County and eastern Collier County. After appropriate adjustments, we estimated a market value of $8,4O0,0O0. Furthermore, we considered an analysis breaking down each component of the subject property by potential development rights. We estimated a value utilizing TDR sales and concluded a value of $6,560,000. Furthermore, we analyzed the value of the receiving lands per unit based on the two sales in the RFMU district. This analysis concluded a value of $7,716,0O0. The subject property is rather unique given its RFMU - Receiving Lands and RFMU - Sending Lands zoning, as well as the limitations it has with regard to access and zoning. All three methods considered are believed to be reasonable analyses of the subject property. lt is our opinion that each method should be considered with the heaviest consideration given to the per acre analysis. This type of property would most likely be acquired for a speculative hold with future development potential. Given the potential changes which could occur with the Rural Fringe l/ixed Use District Restudy, there is uncertainty as to how this will impact properties in this area. The TDR program in Collier County has only had limited activity as evidenced by the number of sales which have occurred since inception. Giventhelackof overall activity with th is progra m, we h ave given the per acre a nalysis the most weight. Based upon the results of the analyses and data contained in the report, including any Extraordinary Assumptions and Hypothetical Conditions outlined in the Addenda, and our experience in the real estate appraisal profession, it is our opinion that the 'as is," fee simple market value of the subject property, as of 16 iune 2017, is EIGHT MILLION TWO HUNDRED THOUSAND DOLLARS - $8,2OO,OOO This value is contingent upon the certification and the assumptions and conditions of this appraisal, if any. According to the public records of Collier County, there have been no qualified sales of the subject properties in the previous three years. The property is currently listed forsale with Land Solutions, however, no list price has been determined. MAXWELL HENDRY SIMMONS 87 4, EsrrunrroN or MRnrrtrNC Trmr Marketing time is defined by the USPAP Advisory Opinion as follows: 7. The time it takes an interest in real propefty to sell on the market suLsequent to the date of an appraisal. 2. Reasonable marketing time is an estimate of the amount of time it might bke to sell an intercst in real prcperty at its estimated matuet value durinejthe period immediately after the effective date of the appraisal: the anticipated time requircd to expose the property to a pool of ptospective purchasers and to allow appropriate time for negotiation, the exercise ot due diligence, and the consummation of a sale at a price supportable by concurrent market conditions. Marketing time dilfers from exposure time, which is always presumed to precede the effective date of the appraisal. (Advisory Opinion 7 of the Appraisal Standards Board of The Appralsal Foundation and Statement on Appraisal Standards No. 6, "Reasorable Exposure Time in Real Propefty and Personal Property Matket Value Opinions" address the determination of reasonable exposure and marketing time.) lVarketing time is further discussed in the Advisory Opinion referenced above, as follows: "...Marketing time occurs after the effective date of the market value opinion and the marketing time opinion is related to, yet apart from, the appraisal process. Therefore, it is appropriate for the section of the appraisal report that discusses marketing time and its implications to appear toward the end of the report after the market value conclusion. The request to provide a reasonable marketing time opinion exceeds the normal information required for the appraisal process and should be treated separately from that process. It is also appropriate for the appraiser to discuss the impact of price,/value relationships on marketing time and to contrast different potential prices and their associated marketing times with an appraiser's market value opinion for the subject property... ...Clients concerned with marketing real or personal properties who obtain a market value appraisal as part of their decision-making process should be aware that it may be inappropriate to assume that the value remains stable during the marketing period. Therefore, it is technically incorrect for the user of an appraisal to take a current value opinion, carry it forward to the end of a concluded marketing period, and then discount back to the present..." Based upon the analysis and conclusions developed in the appraisal, the marketing time for the subject property is estimated to be 12 to 24 months. Esrrrr,lRrroN or Exposunr Ttur lnherent in an opinion of market value is the development of an estimate of exposure time for the subject property. Exposure time is defined by the Uniform Standards of Professional Appraisal Practice (USPAP), 2016/77 Ed., as follows: (The) estimated length of time that the propefty interest being appraised would have been offered on the ma*et prior to the hypothetical consummation of a sale at market value on the etfective date of the appraisal. Based upon the analysis and conclusions developed in the appraisal, the exposure time for the subject property is estimated to be 12 to 24 months. MAXWELL HENDRY SIMMONS 88 Src. Vl I l: CrnrtFrcAroN We certify that, to the best of our knowledge and belief: > The statements of fact contained in this report are true and correct. > The reported analyses, opinions, and conclusions are limited only bythe reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. > We have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. > We have performed no services, as an a ppra iser or in any other ca pacity, rega rd ing the property that is the subject ofthis report within the three-year period immediately preceding acceptance of this assignment. > We have no bias with respect to the propeny that is the subject of this report or to the parties involved with this assignment. > Our engagement in this assignment was not contingent upon developing or reporting predetermined results. L 0ur compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. > Our analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with Uniform Standards of Professional Appraisal Practice. > We have made a personal inspection ofthe property that isthe subjectofthis report. Forthis analysis, Gerald A. Hendry, MAl, CCIM conducted an onsite inspection of the subject property on 16 June 2017. > No one provided significant real property appraisal assistance to the person(s) signing this certification. > The use of this report is subject to the requirements of the Appraisal lnstitute relating to review by its duly authorized representatives. > The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the State of Florida relating to review by its duly authorized representatives. This report also conforms to the requirements of the Financial lnstitutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). > We are currently licensed to conduct appraisal activities and have completed the continuing education requirements set forth with the State of Florida. MAXWELL HENDRY S:MMONS 89 > Although other appraisers may be contacted as a part of our routine market research investigations, absolute client confidentiality and privacy a re maintained at all times with regard to this assignment without conflict of interest. As of the date of this report, I have completed the continuing education program of the Appraisal lnstitute. Gerald A. Hendry, MAl, CCIM State-Certified General Real Estate Appraiser, RZ 2245 MAXWELL HENDRY SlMMONS 90 SEC. IX: AODENDA PuncHnsr OnorR Collier County Board of County Commbsione6 Procurement SeMces Division Phone: 239-2524407Fax 239-7324444 Tax Exempt 85{015966531C-1 Collier Cou nty Board of County CommissioneE Attn: AccounE Payable 3299 Tamrami Trl E Ste 700 Naples FL 341 1 2-5749 OR email to: bccapclerk@collierclerk.@m Purchase Order numbcr must appear on all relaled cqrespondence, shipping papeE and invoices: Vendor# 115316 ]IAXWELL HENDRY A SIMi,IONS LLC 12600 U/ORLD PLAZA LN, # 63 FT MYERS FL 33907 Please deliver to: FACILITIES MANAGEMENT 3335 TAMIAMI TRL E, STE 101 NAPLES FL 34112-5356 Purchase order rc Numbr 4500'178485 o.b06/09/2017 cdndPsso BudgetMgrtt r.hphon6 219-2523973 Fu 239-2524E26 DeliveryDate: O7108D017 Terms of Payment Net 30 Days f---' -'---"-' ----" ' "-- - -' -'-- "-- --'-- | OOO1O REALESTATEAPPRAISALSERVICES 5,OOO EA 1 OO 5OOOOO Total net Elue excl. tax USO 5,000.00 Pnntd @92017 @ lO@:24 VENDOR Terms and Conditions The VENDOR agEes to 6mdy with all Purchase Order Tems and Conditions as outlined on the Collier County Prcarerent Seryices OMsion sit€ irttp://purchasing.@llieEry.neVPurchasing%20PolicyFomdAllltems.aspx, including delivery and paymnt tenm. Further ths VENDOR agres to: 1. PDvide goods and ssNicss outlined rn this Purcha* Ord€r with the pricos, tems, delirery mthod and speilications listed above.2. Notfy clepartrent lmmediately il order fulfillment €nnot €cur as specifisd.3. Ssnd all inwices to: Collier County Board ofCounty CommissioneG Attn Accounts Payable 3299 Tamiami Trl E Ste 700 Nad6 FL 34112-5749 OR email to bc€pclerk@collierclerk @m The Purchae Order is authorired under direction of Collier County Board of County CommissioneE by: ;,i-i'-? '-';-- .2 EdmrdF. Coyman Jr, DiHtor, prmurement SeNices Ctivision MAXWELL HENDRY SIMMONS 91 LRNo Snlrs ron RrcrrvrNc LnNos (Srvrnro) COMPARABLE LAND SALEl 2964 DATE OF SALE: March■5,2017 SALE PRICE: $1,500,000 SALE PR!CE(ADJUSTED): $1,500,000 RECORD!NG:5374/645 GRANTOR:SR 82 Land Holdlngs,LLC GRANTEE: CCW82 LLC F:NANCING:Cash 丁OPOGRAPHY:Tree farm VER!FiCAT!ONI Constance Wa!ker/grantee SITE AREA: 8,733,780 Square Feet 200.500 Acres ADDRESS:3440 SR 82 STRAP#: 000634400052&0063520006 SALE COND:T:ONS:Arrnis Length UTILITIES: We∥,irrigation ZON:NG:A―MHO―RLSA0 LAND USE: Agricu!tural/Rural―Mixed Use District SALE HISTORY: 7/20■3,$900,000 ACCESS:Direct HIGHEST AND BEStt USE:Agncultura!/Hold fOr development UN:T OF VALUE: $0.■7 PerSF $7,48■per AC COMMENTS: The property is located at the southwest corner of State Road 82 and Edwards Grove Road in lmmokalee. MAXWELL HENDRY SiMMONS 92 DATE OF SALE: November 16,2016 SALE PR!CE: $616,000 SALE PRICE(ADJUSTED): $6■6,000 RECORDING: 20160002423■0GRANTOR: MM Properties of SW FL,LLC GRANTEE: Rodney J Troyer,Trustee FINANCING:Cash 丁OPOGRAPHY:pasture VERIF:CAT10N: 」eremy Troyer,Troyer Real Estate SITE AREA: 3,37■,■08 Square Feet 77.390 Acres ADDRESS:Slater Road STRAP#: 07-43-25-00-00003.0050,07-43-25-00- 00003.0040,07‐43-25-01-00000.0030 SALE COND:T10NS:Arm's Length UT:LITIES: none ZONING:AG-2 LAND USE: Open Lands SALE H:STORY: ■2/2014,$505,000 ACCESS:Direct HIGHEST AND BEStt USE:Agricuiture UNIT OF VALUE: $0.■8 PerSF $7,960 per AC COMMENTS: The property is comprised of three parcels located on the east side of Slater Road, north of Rich Road in North Fort Myers. The property also has frontage on Golden Road. MAXWELL HENDRY S:MMONS 93 COMPARABLE LAND SALE2 2890 DATE OF SALE: September 26, 2076 SALE PRICE: $550,000 SALE PRICE (ADJUSTED): $550,000 RECORDING: 5378/2095 GRANTOR: CenterState Bank of Florida, N.A. GRANTEE: Oakes Farms, lnc. FINANCING: Conventional TOPOGRAPHY: Crops VERIFICATION: Chuck Smith/LandQwest Commercial SITEAREA: 5,610,528 Square Feet 128.800 Acres ADDRESS: West of Pringle Lane STRAP#: 0232160006 SALE CONDITIONS: Arm's Length UTILITIES: Well and electric ZONING: A-M HO-R LSAO-ACSC/ST LAND USE: Agricultural/Rural-Mixed Use District SALE HISTORY: None in previous 5 years ACCESS: Rural HIGHESTAND BEST USE: Agricultural/Hold for development UNIT OF VALUE: $0.10 Per SF $4,27O per AC COMMENTS: The property is located west of Pringle Lane and east of State Road 29 in lmmokalee. The property was on the market approximately 988 days. The buyer cleared and replanted the property with new crops. MAXWELL HENDRY SIMMONS 94 COMPARABLE LAND SALE4 DATE OF SALE: November 13,20■5SALE PRICE: $1,075,000 SALE PR:CE(ADJUSTED): $1,075,000 RECORDING: 201526009462 GRANTOR: Finca La Fiesta,LLC GRANTEE: Rancho De R&R,LLC F!NANC:NG:Cash TOPOGRAPHΥ Mostly cleared VERIF:CAT10N: Jessica Nolen/Re/Max Realty SITE AR眈 ■2,847,586 Square Feet 294.940 Acres ADDRESS: Kirby Thompson Road STRAP#: 1‐28-43-05‐A00‐0002.0■00,■-28-43-07- A00-0003.0000 SALE CONDIT!ONS:Armis Length UT:L:T:ES: Electric ZON:NG:A-2 LAND USE:Agncu!ture SALE HISTOtt None in prior 3 years ACCESS:Direct H:GHEST AND BEST uSE:Agnculture UNIT OF VALUE: $0.08 Per SF $3,645 per AC COMMENTS: The property is located west of Kirby Thompson Road and County Road 78 in LaBelle. There are a total of 5 parcels included in the sale and the entire property is fenced and cross fenced. MAXWELL HENDRY SiMMONS 95 SrrnrtrarNr AcREEMENT IN THE αRCUIr CouRT OllTIIE TWENrIETH alDlCIAL CIRCtrr IN AN FOR COLLIER COU―・FLORIDA FRANCIS D HUSSEY,JR and MARY P HUSSEY, 五 "bard and wrじ ;and wTNCHESTER LAKESCORPORA■ON,a Flonda∞暉"lcln, Plahtifr, COLLIER COINTY, ! political subdivision ofrhc Ste ofnoddE; THE HONORABLE CIIARIIE CRIST, CoEinor of lic Stare ofFlorifu aad thc FLORIDA DEPARTMENT OF COMMUMTY ATFANS, DcfcodrnB. FITRIDA wILDLm FEDEMTION lDd COLLIER CO(ATY AUDUBON SOCIETY, INC. Case No:08・ 6933CA Consondatcd競 ■ Cagc No■08・ 6988‐CA SEAN HUSSEY, Succ&ssor Trustlc to JOSE LOIUBILLO, Trurt c 8rd EDUARDO PEREIRO, Tdst c, PLintiffs, COLLIER COUNTY, a politicil erbdivisio! oftic Strb of Rorida; THE HONOMBLE CIIARIIE CRIST, Oov.rDo! ofthc StsE of Floridq l'ld drc FLORIDA DEPARTMENT OF COMMTJMTY AFFAIRS, DcEnd&ts. FLORIDA WILDLIFE FEDERATION rod COLLIER COUNTY ATJDUBON SOCIETY, INC. Casc Nor 08・ 7025CA htcrvcnors. MAXWELL HENDRY SIMMONS 96 SETTITMENT AGREEMENT THIS SSrTLEIVm.IT AOREEMENT ir D!& 6d GDr.rrd i o rhis ll$ of Fchu.fy, 2013, by .d b. q Fnei! D. Huley, JI., Mry P, Hus.ry, Sc.o Hur!.y, Ttur!., MiIe BorE, Co-Tru!t!. of tb SR El6 LEd Trud, Rorld L. Broc,!, C.,c. Trslarc of lh. SR 146 Lrd Trur, Jo*Tb Bodc!!, Prernbot of Wiu:jcrtcr LdG!, I!c., rd HHU ltrttshlorr, L.P. (tb "Ourrcl') Ed Collilr Coroty, Flodda r politicd tubdivilioo ofric SttE Fl6i& (tLc "Couaty"). VHEREAS, thc Ptnln{tr!, FRA}.ICIS D. HUSSEY, JR, Ed MARY P. HUSSEY, horbod ed wifc, (thG "Hu!ryr") .r! thc ftc orrur of cqraia tld ptopqty within Scetios 29 rad 32 of tbc !!a withitr Collir C.oumy comooty Eftnrd to u thc Norlh B€ltc Mdc (tbr "IlllH Rcnl; !!d WHEnEAS, th. Phidi6, WNCHESTER LAKES CORPORATION fwilcnGsn Lrlcs") ho[& ! lc.ldold inEtlst ia thc HHH Roh md hol& coqtactd riSld to rlbqtrfrcc DiE d! iichiiDg thc rDdrigourd rcc& lDd ! colts&td ri8h to rbc il thc procccdr of6n r&q lDd WHEREAS, thc Hu!..y! ad Yirctcstct Lrlcr hrvc 6lcd I chim rgriort Collicr Coudy uldcr Fhsidr St hrc' ! 70.001 (tb. 'B.n HEd! Acf'), .Dd hrrc dlo 6ld cbiD cbd@iag ltc colldtlliodity of thc Rurd FriDg. Ao.ndDrat! FlrrIDt to Afiicla X Scc. 6(.) oflh. Flori& Coodittri@ ad WHEREAS, tb !r.6r! viir tu rrdlc thi! dilprlr o! thc Eor !!d cooditioor $r fonh bclow. MAXWELL HENDRY SIMMONS 97 WITNESSETH: NOw' TIIEREFORE! ia consi&ruioo of Tcn Doll8r ( O.OO) md orlcr Sood od valublc coEsidcrdiod axchrDgcd .Eplgst thc p.tti6, lld in coDrid.mtion of thc covrorot! corbitrcd hlrria, thr Dqtirs lgttc 0s folloq,!: l. IlcorDor.alo! by rdcrrrcq All of thc abovc RICmALS !r! tnl€ 0ttd colrrct lrd rt hcEby qprclsly iDcorpon&d hcrci! by rlfgrlocr as if lct forth ftlly bclow. 2. N.allr ot liit Sctdc[Gai. T[ir SdtlcEcrrt Agrccrtlcot i[volv6 !n cxcharg. of &vclopEcdt bclc,rco teo largc pacch loc.trd *ithin lLc Rural Fri"gc Mixcd Usc Di*rict (RFX{tlD) of Collicr Coumy. TbG first c,ompon sr chaaSB rbc dccignatioa of 578 rqc! of ttst laud howE as thc "Husscy lrods" noo SadiDg to Rrccivilg La&ls. Thc lccond co@oocor changca thc dcsiEurioo of 5?8 e6 of thrt laad hov,tr !! thc "SR 846 Le&" toE RccsiviDg to Scndirg Lrods. By lhis .xchangE, thc bdaocc of dcvclo!,mclt rigbtr wiihiD thc Rrraf Friagc Mixcd Ui. Diltict rldrir! suhr ially thc $ac. AdditioDEl coBidqaaioEs rE &tlilcd bclow, Th. Burcf, L&dr 3, Thc Hwscy lands E! gtrphics[y depictrd h Exhibit A ad coEFis. a totsl of I,l l0 !c!rs. Th6c hds E! locatcd withia thc Rural Friagc Mixcd Usc Disict ad !rc dl qEttotly dcligdrd 0s Scodiog Lods. Exhibit A approxilcarcly d€picts how thc Huscy Laads a.r to bc dividrd. Thc 578 rsEs Dorth of tbc boudary lioc will bc cbrngcd tolrl Scrdilg to Rcccivilg t"od!, &d Cotliq Couity will tocDd ibc Futl[E Lard Usc Mq dlsignstioo of thcac 578 a.ics iccordingly. Exhibit B cootaiDs tbc l.gr.l dcscriFioo of tbcsc 57t acccs, rviich sball dc6!c sad cootol rvhich llDds hsvc bccu EdcrigDltcd &3 R.caiviog hDd!, T1l rcuaiaiag 523 acrcs of tiE Hulsey l,tlds wil rEmrin Scoding I.dl.. Thc .rrty 6try TDR bo[u! dcisity cEdit shdl bc qxfcodcd for ttGa (3) ylcs lq th6c Scrdiag Irnds aftcr rpproval by thc Court ofthir furccrrut" or MAXWELL HENDRY SimmONS 98 a.Eh othsr dllr r! ory bc lxiadcd gGrlly for orhcr RFMUD S.odiDg L^od5, whichclE i! tt htlr dd!. 4. Within 180 days fotlowirg thc cffcctivc dr& of rhtu Sct0cocat Ag@! tnc Huslcy! lhrll dccd to ihc Contrty @ hu!&cd ad cigtty (lEo) ftrr of righ.of-*ay for th fi&n! Wik@ Boulsvlrd Extcosioo @lrtbrra Ro.d) ilotrg rhc louthqrr p@Dclty lirc of th. HHH Rrtrch. Thc d.dicr&d land is &pictd o! E dilit C, lld oo|mpd!! llproxiod.ly 22.318 acrts. Thc Owncr vil, rccciw 155,79j i! rod inrFct ftc cirdit! fo! this d€diqdior, vdurd d 1e500 pcr ut. Thcr rod irn ocr crcditt $.ll ilurr to thr brncfit of lh Hulscy L@d!" lrd will nE in pdpauity. No firrts colEi&ration win bc dE to tbc Hqssy! fot thi! dcdicdioD, intspoc,tiw of lf,tclhri tbc lqct Fc. CEdi! ar or crtr bc rtilizcd ia wioh or in port Thc rigbt of wly !!d lto(mwdct palrcb will b. Ernrftrrcd to tb. Coutrty itt frc riltplc, by ltrtutory warsrrty dcc( ,ubjccl to c.m!a$ rod rrlawdioD! of ,!cord, Thc Coulty ihdl bc tlA@riblc 6r p.yi!8 thc co.t! of rrly tidc wolk !!d s.atlhcs, lrd thc Hos€cy! .h'tl bc rcspooible for all ooctr incurcd ia pm6ly rtmwiag or curiDg aU lkn!, .o.uobrurcts or &fici.trcicr Evrqlld iD rtry tidc worL, folowitg wtich tic Husscp will provi& rhc OfEcr of lf,c Couoty AIqDcy witb qd !f,lclrod d.c4 arillblc for ncording. Upoa rlccipi, $c Cousty I il! con l,il racord th. dc.d h tb. Public Rccoid! oftbc Coutrty. Thc tlusrn *ill bc patoittd .cc6s otrto tb fr!tu!! Wiboa Boulciltd ExEli@ for r!!i(hi!t {d lgricultunl u!.!, wirh d lc.st trD ric,ia locxior tba ptrmit lcft tu!! i!_ Ttc Hu:*yr nay bc FrDitcd errs onro li! futu!? WiLoo Boulcvlrd Exmioo fq thc bruliag of cxcwrrd uulrriak, wfiicL rcs will br lubjccr b tbr cooditions of aoy sxclvdioo pa(Eit! or cooditioral u!€ thd Etry bc oUui&d" The Hrsscy!' rotitlcmdg to dcorig rld TDR! r[.ll iElu& tbc rr!. &dicdd ro 6€ Courty i{i.otificd ir Exhibit C. 5. Ttc HHH R!!ch lldt !b.ll bc lubjet io th. pElc|rvrtioo ald Ndivr Vagarrtiotr R!l! ioo Staadrdr withia CCME pol.icics 6.13 ed 6.1.5 b.!.d l4o.6a ocirriq ordvc vcgartioo .s drpictcd by r FLUCCS Mrp, enich Mlp !h!U bc prslatrd by th. Hu$qy!, cubjcct to rpFovrl by tb. Couoty. 'ILi! M4 i! to b. p!!p{!d .rd F.!.otcd to t[G Courty for rcvilw *ithitr lfo dayr of thc cfoctivc ddr of this ∥AXWELL HENDRY SIMMONS 99 A8r@!L ILc panira will cooFtlc wii orc anotha to rDsur! a hrfrrally agrccablc FLUCCS Mtp. Tt. SR Ea6 Lltdr 6. Thc SR 846 Lo& .r. gr.phicrlly dc?ictld ia Exhibir D, aad cmpri* e lo(!l of 4576 rt!s, thcs. LDd! a! loc.td withia thc Rral Friryc Mix.d U!. Diltricr lrd lrr cur.atly d€i8trd.d .s Rlcciving t afu. A! dltaild bclo\r, 578 acrcs oftic SR 8,16 l^dd! sill tc coDvcrrcd &@ Rccrivilg to S€ndiDg LrDdc, is od.r lo lritrq tb. 57E sB of Husy l^ard! bciDg cooyrdrd iti! S.odiry to R.clivilg L0ads. Tb Eaddlg 1,998 rcEJ !br[ r!D!i! ikrigled u Rccciyitu l"od!. Erhibit E rcB fonh tbc Lcgd DclqiFio! oft SR 845 trds. 7. Exhibil D {rr,oxiE r.ly dlpicts fr. SR t46 trnd! ro bc dividcd irto S.!di!8.d R6aiviDg t^rdr. Th. 57t lcrle *tich !r! d.ootd by &. rprcprid. hrlh mrct wil be chragd fron Rccciving I -dr 5 garr6i* I .tr1 an Couicr Coldg wiu .Ed th. F ert! I^lel Ur Mlp &siglrtioo of lt rc 57t erB acordiDgly. Thct! ir pi.!.dly Do ltgd DBcdptioi for thc proporcd R.ociviog ed S.dditg lrtr&. At Sc timc thr SR 846 Latrls u. dGy.lopc4 or wi.a TDR rigb! !r. !.rqa4 lhc ourE of tic SR E46 l"uds roay o*c Bilor cha!96 to tbc dcpictcd !r! !, ad d aEh tiE€ r Lgd D6cripdoa &6!itl3 th. 57t uc Srodiog trt ort tbr 1,998 &tl! of Rrc.ivirg EE{o rhall bc gcpad md fonrud.d b 6c Courty. Th. Couoty lrDlgc. or hi! dcsiglcc i! ari6iz.d to ,lhinifidivlly iLt6oir. *hctrq &. ctro8.3 to thc dcpictld rrlas coldituL r milor chegq wilh Dy objcclioo rubjcct to r d! Dovo tlvice by thc Boad of Cordy CorlloilsioDcl!, Any Erjc ctEgrr io lhc &pictcd r!l! Elt3t bc rpptovd by Esjodty voic ofttc BoGd ofcouDty CooDitlioocrs. 8. 'Ilc SR E46 L!!& &sy bc dcvdo,.d i! lccordre with tic proviriou Lqtin or ttr RrMU Disricf gcrlly u oay bc ocodcd (or. coEbilrtior tbc.lof on tcpard. p.rcclr). ODa road olsy bc providad in tE S.rdirS 1"6& to flcilillr. 6 conDastioD !o tmrrotrl.r R.6d- TIE c.rly roEy TDR boous d. sity cEdit lhstl bc MAXWELL HENDRY SIMMONS 100 sxtad.d br thrle (3) yr.[ fc ttc Scodiag lards inrr @rovd by th. Coun of 6ii Agttroc[r or '|rch oths dd! a! E y b. dtlad€d gcocraly for othcr RFMUD Sdiag lrqrs v,ti&vcr k thc l.tcr d!tc. A Conditioul Ulc ftr..rtbldning snd qt!.tioa vss prsviously 4,!rovcd for lhk propcrg E6olutioD No. 2012-15), s portion of *Lieb is cbeged ftoin R.cciviDg !o Scoding l^rodr by this Agrccocot nafiniaitr8 od .rtetion l(. no lotrgd p(lairicd on SR E45 ScodiDg rode rod tro ..iocodecot of Rcsoldiou No. 2012-15 is D.c6sary to .aforcc tiis yohiuti@ oD caOoiniag rart sxffiions on th. SR t45 Seading L^ands. Nothiag h this pcagraph shall coafr aoy miDiDg righ! or the Huslry Lods. Irr.l Mrtttrt 9. No!-.dDkdo! ol [rbllty. It is uDd(tsrood !!d agllcd rtrr l!i! Slt[cErcrt Agr!.trr.ot i! thc coo!@drilc of dkllr,ld clridl& ed fhst trothi[g codliDcd h.tqi! Ehdl bc coo$uad !s a rdmirsion of lisbility, f.ult or rclpoD.Sbitit), .s to Ery chirr! or rllcgdiorE @ thc psrt of.!y pqry, which Inb ity ir !r$r!!sly d.oicd. 10. Mul!.l Gclrcr.l R.L.rG E{h ofthc plrtic! li8tirg bclow, on bchalfof tht rlclvcq tbcir forocr.tld grcscit cmployccs, agcotq offic.|lq dirrctors, scrvmtr, rlprrlctrtltivaq irorcrr, assigls od Frdcccaro6 rtrd successors i! iitqcst, L!&by Irlc.sar .rd foEvcr dilchlrg.s €'ch ed cv6y o(h.r pqty dgli[g bclo% togrtrr witi 6cir fo[Ecr ad prrlcni cdploy!.s, !gcot!, officrq dircdort, !€wa$, rqErcoutivEs, i.o! rEs, argiglr, and prldcc€lsors ed rEac*rors i! i!t!Ga, ioo lny ssd all claios of wtdsrr( ldEc or &sclilioo, y&ich tdlrc b,.ris froE, or.ould h!v! bcco.[.gc4 itr lhc rboYr clFi@cd lN.luiti ll. Voluttrry ErrcEdon. Thi! Agrc.inrar couaios tbc catic agrranat bctu,r.a tb. F ti.. b.Glo qrdiag th. resolutioo of thcir dilput s. Thc pcrtics r.horf,lcdgc ttrt thi! Agrlcdrot ir fircly &d volrnuily cxccrncd aicr thoy havc bcca mri!.d of all.rlcyei iafomaiol colerdag th Agr!.D!d ad that tlry bryc had thc opportulity to conrult witb dd rcclivc th. dvic. of cour!.| in .itrrilg itrto tii! MAXWELL HENDRY SIMMONS 101 A8!.an !t h .xccutiry tii! Agraco! thc Frri.s *laro*lcdgr thd fhcy bvc mt r.licd @ &y ildlraocrtb, Fooir.., @ rlpr!*ntrtioos ortcr rbaa thoc comiac<t halir- Thit Agtrcoldt i! th. produ.t of 6utu.l Egotiltioo od oo &utnful or ubigurs prrovisioa that Ery sxin itl this Agrldn ot it io bc co.dnEd .g.iEt Ey of lic prrricr bcsc<t upoa a claio lbrt ooc of thc panicc rtrftcd rhc Agtcocu! or rht ttr lagurg. ofth. Agr!.o.d *B h&odcd b faor @. ofthc partics. 12, Go,Gtlht lrr. This ASrccopt .h.[ bG dc.ncd to bwc bc.n Eldc &d lo bc p.rfo[ocq dd thdl bc ifiaednad, aodnruad Dd Goforcr4 i! Ecordlrc. with lbc law! of tt St$q ofnorid& I ! . MrldpL Coortrrpub. Thi! AgElrncot ruly bc qoutld by rhc ps.ti.s ia ftrcmicd couatsOcrG, vticlf i.L.[ to8cthcr, lhrll coo*itut! I coEpla! odgi!.f. 14. Mod lc.tlolt. IIis fulttmca c.D&t bc E ad.4 Eodi6.d 6 erdiEd rxccfl by lgrlroocat .Dd writi,ra docurDqI" u^ich ir siglrd by dl lqdica hcrrro. No onl rtarcrnmr mldc B ay Fr'or !b.[ op.rlb to rDodis lhi! Agt!@c'tt in roy oau or o[hrrwir .trccl il! t!.D! !!d provilioDs. 15. S.,"cr fllty. lD thc cvsar thrt tly tsrE q prcvilio. of thi! Agre.at i! dla@Gd rDtrforclrblc or uolawful for ![y Ir !o!, tic noridct of tLc Agrcaud rhall bc dcrarcd cufqpcqblc rod i! cffoct 16. ErforcteblEty ud Adopffo!. thi! ASrEo(dt is cfrc81iv. np@ th. drr. it ir lpprovd by tbc Bord of Couaty ConuoitcioEr of CoUi6 Coulty, Rcidr. Thi! AgtEEcd i! a$jccr t 4proval by ttc Crurt. Upoo qproval by lic Co,m lrd tic lr(Pidin of rbc dEr withh vhich for loy t[ird p{ti€ to Ac.l, 6 ttc up[oldiq of llir tarlcolnt with fildity, iflo rlpadcd, thi! etioo win bc diatdlsed t,in ptljdicc. 11. No!-rrlv.r. Th. fiilurc of.itb6 p{ty to rsforc! d ey tiEG loy oftbc paovisi@r oftLi! Afrtco€at thall rd .o[dituc I wriva ofray lrh provisionr. MAXWELL HE∥DRY SIMMONS 102 lE, Auttortty b Bbd. Tb sigEtorica hercto cich wErr8trt end rcp,rcscnt tha thcy bave 6c Equisitc alrbrity to cntrr into this esecmcnt on bchatf of thc respcctivc porty. Rcoaiodcr of Pagc Intcntionally I*ft Blank" Signeuc Pagcs aod Exhibits to Follow. MAXWELL HENDRY SIMMONS 103 l-r7-r, ti!$!,sA-Rtv llr.!t rv&rK t 2-l.D dr IN MTNESS WHEREOF, th. pani$ hcrcto havc csB€d this Agrrcmcnt ro t. .xccntcd by lhcir lpprotriltc official!, ss ofthc datc first abovc writtcn. Attcst: DW:GHrE BROCK,C:crk ROARD OF COMMISS10NERS COLL:ER FLORID′ヽ MthactJ Boran,C‐:"ぼ cc SR 846 Land Trus: Ronad L Brown C●Truslcc SR 846 Land Trust inches-ter t-akes, Inc. B!. HHH lnvesuncnrsrlorp. L- GP Francis D. Hussey. Jy' Presidenl MAXWELL HENDRY SIMMONS 104 [IH:{invest‐nents LP 117■,―SA―REV:■:1,IV」Кa2■ 1〕 “ STATE OF FLORIDA COUNTY OF COLLIER Illc Forplng i●―cat was“knowlodgcd“お"mc饉 s tt dayOf Fcb理 型,2013,by Marv Pat Hussc5,who iS pc8oDally kno‐tO mc―or whoい produced STATE OF FLORIDA COUNTY OF COLLIER い沸 紹 軸 質機 蹴 結』瀾 五β 編 has produced VAll轟 '嗜 “賊 り ',コ ● 3朧 |●I―l“ ,C‐ll¨レ “ J=●22",| ・… I・・・ [〔 `“ ,1 STATE O「FLORIDACOWY OFCOLLIER Thc Forc"轟 g insmmcnt tt acknowlcd8ed奏 お“mc面 s∠Lぬ y Of Fe晦 ,2013."Seatt H四 甲,as Tnlsに whOお pctsonally known to mcン Or輛 has produccd ry CoBii tl,i6r .lri ??. l0l5 YAD RA P IcA N●l`り 'OL 81a,“詢 ′椰t Conm'rlron , ll.toicL{.(,'.tuOrri.ilil.',lstr Commissidn Expircsr MAXWELL HENDRY SIMMONS 105 期 つ 1 ]'[,H…SA RFVt,卜 13 Ⅳa」K全 21]," STATE OF FLORIDA COINTY OF COl[IER Thc Forc801ng inst―ent■ts acknowlcdged bcfore tt dus___day of Fch2り ,2013,by MichacI J Boran,as Co■崚 oF●F SR 346 Land Trum,on behalf oFsuch mェ whO ls pcmnally known to mc__o=who has produccd as identirlcat10n Notary Public Print Namci_ My Cofiunission ExpiEs STATE OF FLORIDA COIJNTY OF COLLIER Thc forcgoin8 irstrtlEnt l{Es !.lmwkdgcd b.for. rnc this _ dsy of Fctruary, 2013, by Roruld L. B.o\r,!, ,s Co-Truncc ofthc SR 8,06 lrnd Trult, on bchatf of such tru6f, *fio i! FrsoDally lnown to mc _ or rfio has !@duccd &! idrotification. Nolrrv Public Print Nsmci My Commission Expires: STATF OF R ORIDA COUNTY OF COLL:ER h foreBolng lnsmmcm was acknOwledgcd beForc“面s■h dayof 鷲器』∥l'思 牌懺聰 貯鳳∫脚嵩鶏驚λ鷺・当th。 has produced レ Public lnt Name: MAXWELL HENDRY SiMMONS 106 l\ WITNESS \IrHEREOF. the panies hcreto hlve caus€d this ABreemerr !o be a\ectltcd by their appropriate omcials. as of tha date fiB! abova $riltcn Atte● DWICHT E BROCK Clcrk 30ARD OFCOLNTY COMM:SS:ONFRS COLLIし R COし ヽ1ヽ 卜しORDA Bv B、 Dcpu、CIC薇 CLORGlA A HlLLER,ESQ CHAIRWOMAN ヽla,Pat HusscN Sear Hussey, Tru$ee Winchesrer Lates. lnc Joscph Eonness, Presldenl HHH lnvestments LP B! HHH lnvesrmenrs Corp l.cP Fmncrs D Husscv. ,r. Prgidcni Francis D Husse\'. Jr Mに hrelJ Boran C●Truゞ ee l Brown MAXWELL HENDRY S:MMONS 107 :17‐1,H●n SA―REV I,|‐l]JValK a 2 1!〕‐ STATE OF FLOR:DA COUNTY OF COLLIER The Forc801ng lns●Шttt w、3CknOWledged beFore lnc thも =ハ da.。FFcbruan,2013,by Francis D Husscy,J【,Presldcnt OF HHH invesunents corp l,a D●lawaF cOrpontton,authon2Cd tO do b“Incss in thc stale oF FloHこ whlch is the い ●●l Parulcr Of HHH Invcsl―ts L P,a Dcla■are“mmed“n瞑 霊轟ip authOnzed to脚 馴嚇胤ツas ldenu6cat10n MAXWELL HENDRY SIMMONS 108 ?〆ζ Sl A:E OFFし ORIDA COUNTY OFぐ OLL:ER Theお re301鴨 h●‐mc●■“acklml“8“bcFOに memsttda.d Februn 20!3 bン Michact」Bottn as Co TAIst∝Orthe sR 846 Lnd Trust On bchalr oF such tru"whOヽ pcrsonally knowm me__or wい has produccd as iden“aca“On 剛蠍"It{y Commissioi Expires BA)t_r/tq STATF OF F1 0RIDA COUNrY OF COLLIER me偽 嗅●■81n"rumcnt was●ckno■l●d8ed bcrOre me this_7` 的。FFebrua●2013,by Ron」d L Brown as CoTruslcc ofthc SR 346 Land Tru“,On腱 half orttch m●.wtO`Pcr野 口∥yknOwnlli面 ∬Wh°hお「odtκ “APhntヽ alnc ι.ce+′ “ ヽに′′。ィ My C徊 暉nrnltton Ex,res“ピLl)LLIヽ =]●'ツ STATE OF FLORIDA COLINTY OF COLLIER 'fhe loregoing instrument $ss acknowledged before me lhis day or Fcbruar]. 2013. b, jo.cph Bonncss. &e Prcsidcnt ofwin.h.st6 Lrt(cs. corpo..tior. on b.hdf of ejch coeonti.'o. *,ho is Froillly known lo Inc - a Flo.idt has produced as idmlificrlion No●Ⅳ Ptlblic Phnt Nmc I\r!' Commission E\pires MAXWELL HENDRY SlMMONS 109 EXHIB:TA S●cl●112 654な 全 鍮綸33,48´`2 MAXWELL HENDRY S:MMONS 110 EXIIBIT B‐HttI Ranch Rα dving Lands l. Wtt Seclon 29,Tomship 49,Range 27;pauls: 0032350∞02 294927E12 0FSE1/4,NW1/4 0FSE1/4,E12 0FSW 1/4 0FSE 1/4,NW 1/4 0F SV71/4 0FSE 1/4,N1/2 0FSE1/40FSW 1/4,NE lr4 0F S,71/4,E1/2 0F NV71/40FSW 1/4,SW 1/4SE 1/4SW 1/4,W1/2 0FSE1/4 0F SE 1/40F , SW 1/4,SE 1/4 0FSヽ ν1/4 0F SWV1/4,E1/20FSW 1/4 0FSW 1/4 0F SE1/4, 00331320006 29 49 27 SE1/4 0F SE1/4 0F NE1/4 00030480002 294927E1/2 0FSヽ V1/4 0FSW1/4 0F NE1/4 00328640003 294927E1/2 0F SE1/4 0F SE1/40FNW1/4+W12 0FSW1/4 0FSW1/40F NE1/4 00329240004 294927W1/2 0FSW1/4 0FSW1/4 0F SE1/45 AC.OR 1342 PC l129 ∞330840000 294927E1/2 0F SE1/4 0F SE1/4 0FSW1/45AC.OR 1342 P0 969‐970 2. Thc Northm 279 8-OFSdio■32,TownsEp 49 S颯 bge 27 East MAXWELL HE∥DRY S:MMONS 111 EXIIIBrr B―HHH Rmch Sodl●8 Lands L 驚剛 鵬 奮竃庸躙酬淑電l躙 扉計 leSS 2 ■4●面 S∝姑●l133,T―p495●口L Range 27疇 :A_L: ∞344240005 334927W1/2 0F S1/2 0F S12 0F N1/2 0F N172 0F NW1/4 00343760007 334927W172 0F N1/2 0F N12 0F S172 0F N1/20FNW1/4 00345280006 334927W172 0F S1/2 0FN172 0F S1/2 0FN1/20FNW1/4,LESS W 35rr 003430m 334927W1/2 0F N1/2 0F S1/2 0F S1/2 0F N142 0FNW174コ 鰺S W 35' ∞342“∞"33 4927 Wi/2 0F S1/2 0F S1/2 0F S172 0F N1/20FNW:/4 LESS W 35Fr 00344040001 334927W1/2 0F N172 0F N1/2 0F N1/2 0F S172 0F NWi/4,LESS W 35Fr ∞344960000 334927E1/2 0F N172 0F N1/2 0F S1/2 0F Nl″OFNW1/4,E1/2 0F S172 0F S1/2 0F N1/2 0F N1/2 0F NW1/4=P｀S E35 Fr ∞342080005 334927N172 0F S1/2 0F S1/2 0F NE1/40FNW1/4,S1/2 0F Nl″OF S1/2 0F NE1/4 0FNW1/4,LESS E 35Fr ∞3447m 334927E1/2 0F S1/2 0F S1/2 0F S1/2 0F N1/2 0F NW174,N1/2 0F N1/20F SE174 0F NW1/4,N:/2 0F S1/2 0F N1/2 0F SE1/4 0F NW174 LESS E 35FT ∞4560002 334927E1/2 0F S172 0F S1/2 0F N1/2 0F Si/20F NW1/4,LESS E 35FT 00345241m 334927E172 0F N1/2 0F N172 0F S1/2 0F S1/20FNW:/4 003422蜘5 334927S1/2 0F S1/2 0FSW1/4 0FNWi/4 LESS S a W 35Fr MAXWELL HENDRY SIMMONS 112 0034276000t 33 49 27 ElD OF StD OF Sl, OF Sl/2 OF NWI/4 LESS E 35ft i! S 35fT 00345400006 33 49ft7 N 50rr OF NEI/4 OF SWI/4, E 50Ft OF S 280Fr OF Nl/2 OF NEI/4 oF NEI/4 0F SWI/4 l.E4 AC OR 36 PG 378 00342120004 13 49 27N112 OF Nlz OF NEI/4 OF Swl/4 LESS N + E 50Fr @34292mfp 33 il9 27 S12 OFNI/2 OF NWI/4 OF SWt/4, LESS W 3JFT 003,1452(xmo 33,19 27 Wl/2 OFNl/2 OFNtn OF Sl/2 OFNli2 OF S\M V4 LESS W 3i, 00342600003 33 49 27 Wlz 0F Sl2 0FNlz 0F Sl/2 0FNl2 0F swt/4 LESS W 35 FI 0034436000t 33 49 27 Etn OF Stn oFNlz 0F sl/2 0F Nl/2 0p swl/4. LESS E 35 FEEI 00344610003 331927 EtnOFNrn OF Ntz 0F Slz 0FNlz 0F SWI/4 00343200004 33 49 27 Wl/2 0F Slz 0r slz 0F slz 0F Ntz 0F SWI/4 LESS W 35 FI 00343840008 33 49 27 \ D OF Wln OF swl/4 0F SWI/4 LESS W 50 FI AND S 50FI ORl/O PG 335, LESS N 50Fr OF SlooFt OR 2Ol pO $5 MAXWELL HENDRY SIMMONS 113 :謝 諄 鵠置電鵠躍 …7n°n。_E― Forlo xos. ocia20.&6 r o3.rmoog 剛1鳳 罰蒲椰鋼;, (COttAINING 22 310 ACRES,MORE OR LESS) … 団・ ― *n-0-t-.-.rr-ra.-*. MAXWELL HENDRY SiMMONS 114 SECml132 DPesi,rnsr-r-rI;rlr r A <c,r^t^rEE r' OICIE! nda !.rll\a.i!Fr.d!.l..',6&t rln..b - rr.r{-ttJr rl- oL MAXWELL HENDRY SIMMONS 115 嗅喘側E● 『 田 “ ― EXH:BIT・ E・ LEGい こDESCRIFr10N SR 046 LANDS 鵠圧茅熙)鶏 製品腎産翻濯14篤 猟 員田晟躙織織‰SW拗 OMЮ KALEE MAXWELL HENDRY SIMMONS 116 EDUCATIONAL BACKGROUND AN D TRAIN ING: Master of Arts in Business Administration, with a major in Real Estate and Urban Analysis, University of Florida, 1995, Gainesville, Florida. Bachelor of Science in Business Administration, with a major in Finance, 1991, University of Florida, Gainesville, Florida. Principles and Practices of Real Estate, Brokers Course, Florida Real Estate Academy, 1995, Fort i/yers, Florida. Case Studies in Valuation and Report Writing, University of Florida, 1994. Real Estate Market Analysis, University of Florida, 1993. Preview of Urban Planning and Regional Planning, LJniversity of Florida, 1993. Seminar in Real Estate Valuation, University of Florida, 1994. Seminar in Real Estate Financial Analysis, University of Florida, 1995. Land Use Economics, University of Florida, 1995. Principles and Practices of Real Estate, Salesman Course, Florida Real Estate Academy, 1990, Fort Myers, Florida. Demonstration Report Writing, seminar sponsored by the Appraisal lnstitute, Dallas, Texas, May 1999. Comprehensive Appraisal Workshop, Dallas, Texas, August 2000. "Appraising and Analysis of Proposed Subdivisions and Condominiums", seminar sponsored by The Appraisal lnstitute, Boca Raton, Florida, August 20O2. CCIM Cl 101- Financial Analysis for Commercial lnvestment Real Estate, CCllvl lnstitute, Naples, Florida, October 2002. The Valuation of Wetlands, seminar sponsored by The Appraisal lnstitute, Fort lvlyers, Florida, September 2004. Case Studies in Commercial Highest and Best Use, Appraisal lnstitute, September 2005. CCIM Cl 102 - Market Analysis for Commercial lnvestment Real Estate, May 2006. CCIM Cl 103 - User Decision Analysis for Commercial Real Estate, September 2006. CCll\4 Cl 104 - lnvestment Analysis for Commercial Reat Estate, August 2006. MAXWELL HENDRY SIMMONS 117 QunrrrrcnrroNs Or CrnnroA. He Nonv. MAl. CCIM Appraisal of Local Retail Properties, Appraisal lnstitute, May 20O9. Subdivision Valuation, Appraisal lnstitute, September 2009. Fundamentals of Separating Real Property, Personal Property, and lntangible Business Assets, Appraisal lnstitute, Bradenton, Florida March 2012 EXPERIENCE: Currently an owner/partner with Maxwell, Hendry & Simmons, LLC, Fort Myers, Florida. owner/partner with Maxwell & Hendry Valuation Services, lnc., Fort Myers, Florida, 2004-2013. Associate Appraiser with W. lvlichael N4axwell & Associates, lnc., Fort Myers, Florida, 1995-2003. Commercial Credit Analyst with Barnett Bank of Lee County/First Florida Bank, Fort Myers, Florida, 1991-1993. PROFESSIONAL AFFILIATIONS: Appraisal lnstitute - MAI cclN4 lnstitute - cclM State-Certified General Real Estate Appraiser, RZ 2245 State-Licensed Real Estate Broker, BK #0567939 Southwest Florida CCIM District - Board of Directors 2Ol4 - 2016,2017 President Real Estate lnvestment Society - Board of Governors 2002 - 2008, President 2007 Appraisal lnstitute - West Coast Florida Chapter Board of Directors 2003 - 2008 Appraisal lnstitute - West Coast Florida Chapter President 20O8 Commercial lnvestment Professionals (Cl P) Member OTHER: Qualified as an expert witness in the 20rh Judicial Circuit Court of Florida and United States Bankruptcy Court Middle District of Florida. Special Magistrate - Lee County Value Adjustment Board 2OL2-2O1,4 Guest Lecturer at Florida Gulf Coast University, College of Business Administration 2007-2016 MAXWELL HENDRY SIMMONS 118 RECERTIF!CAT!ON: As ofthe date ofthis report,Gera!dA.Hendry MA!,CC!M has completed the requirements underthe continuing education program Of the Appraisallnstitute. MAXWELL HENDRY S:MMONS 119 ASSUMPTIoNS An Assumption is defined by the Uniform Standards of Appraisal Practice (USPAP),2Ot6/17 Ed., as 'that which is taken to be true". Please review the following assumptions, which we have "taken to be true" about this appraisal. This appraisal is to be used in whole and not in part. This appraisal report has been prepared at a specified point in time as indicated by the date of valuation. Therefore, this report can neither be used prior to, or subsequent to, the effective appraisal date. lvla rket va lues and cond itions change significantly with th e passage of time. This report cannot be vielved subsequent to the appraisal date and then reliance placed on values, opinions, and analysis made by the appraiser or other consultants in the report. The forecasts or projections included in this report are used to assist in the valuation process and are based on current market conditions, anticipated short-term supply and demand factors, and a continued stable economy. These forecasts are therefore subject to changes in future conditions, which cannot be accurately predicted by the appraiser and could affect the future income and/or value forecasts. No partofthis report shall be used in conjunction with any other appraisal. The appraiser(s) herein, by reason of this report, is not required to give testimony or attendance in court or any governmental hearing with reference to the property appraised, unless arranged previously therefore. The consideration for the preparation of this appraisal report is the payment by the client of all charges due the appraiser in connection therewith. Any responsibility of the appraiser for any part of the report is conditioned upon full payment. Neither all, nor any, part of the contents of this report shall be conveyed to the public through advertising, public relations, news, sales or other media without the written consent and approval of the author, particularly as to the valuation conclusion, the identity of the appraiser or firm with which he is connected, or any reference to any professional organization of which the appraiser may be a member. The property has been appraised as if free and clear, unencumbered by mortgages, liens, delinquent taxes, assessments, special or unusual deed conditions or restrictions, but subject to zoning regulations. An investigation, but no record search, has been made. All comparable data utilized are confirmed by First American Real Estate Solutions (FARES), the Local l\4ultiple Listing Service (MLS), parties related to the sale, andlor public records. Thedata used in compilingthis report was secured from sources considered reliable and authentic and, so far as possible, was verified. However, no responsibility is assumed for its accuracy or correctness. Unless otherwise noted, no survey or plans were requested or provided and information regarding the subject property has been gathered from the appropriate public records. lt is assumed that the legal descriptions, site sizes and boundaries utilized are correct, that the improvements (if applicable) are entirely and correctly located on the property described, and that there are no encroachments or overlapping boundaries. Unless stated otheMise, legal access to the property is assumed. Marketable title, but not responsibility as to legal matters, is assumed. This appraisal issubjectto a current survey and title search. The appraiser is not qualified to ascertain the presence of internal damages to the subject structure(s) (such as adverse settlement, insect damage, etc.), physical hazards (such as radon, urea formaldehyde foam insulation, asbestos, lead paint, etc.), or environmental conditions (such as wetlands, eagle's nest's, etc.) and assumes no responsibility for such conditions. lnformation regarding possible conditions was neither requested, nor gathered, in conjunction with this appraisal, and the appraiser hereby reserves the right to alter, amend, revise, or rescind any of the value opinions based upon any subsequent information, research, or investigation. Unless otherwise stated in this report, the existence of hazardous materials on the subject property was not observed by the appraisers. However, we are not qualified to detect such conditions. The opinions of value contained herein are predicated on the assumption that no such conditions exist which would cause a loss in value. lt is recommended that the user retain an expert in these fields if greater detail is required. MAXWELL HENDRY SIMMONS 120 It is assumed that there is full compliance with all applicable federal, state, and local environmental regulations and laws unless noncompliance is stated, defined, and considered in the appraisal report and it is further assumed that all applicable zoning, land use regulations and restrictions have been complied with, unless a nonconformity has been stated, defined and considered in the appraisal report. This appraisal is subject to all groMh management ordinances (i.e. concurrency) both local and state. The appraiser has relied upon representations made by the developer, client or authorities considered to be knowledgeable in this regard. A determination was notmade bythe appraiser as to the development potential for the property, unless otherwise stated. Unless otherwise noted, we were not provided with a title search, and we have assumed that the subject property hasa unified title, or in absentia, that the right of entry is barred for oil, gas, and mineral rights holders. Wehave further assumed that no off-site subsurface exploration or extraction activities are occurring, or have occurred, which would have an impact on the subsurface elements of the property, or which would adversely affect the value ofthe property. No consideration was given within this appraisal as to the time or expense (if any) which would be required to determine or obtain unified title or bar the right of entry. Should thisassumption regarding unified title later prove to be false, this could alter the opinions and conclusions contained herein. ExrnqonorNRnv AssuA prroNs / HvporHrrcnr CoNnrroNs Please see the Scope of Work for further details. MAXWELL HENDRY SIMMONS 121 APPRAISAtt R≡PORT CARISCtt rORRrs■月DASSOCrAttQ 1919 Courtney D"ve,Suite 14 Fort Myers,FL 33g101 4239)9諄 19191 Faxl(239)91諄 7359 WWW.CanSOnnOl■s_com SuDject Plo perty: 96?Acres- HltH Ranch Unincorporded Colller County, Floricla 34117 Prcparcd Fon INC- Collier County Board of County Commissioners Attention- Rooseveh Leonard, RAIU-AC, Senior Rwiew Appraiser 3335 Tamiaml Trail East, Suite 101 Naples, Florida 34112 PO I'lumber: 45{X}1 78{85 Our Fileilumben iIJS c爾 倉θl喝 節 i円 Ff∫ απd7=A∫∫θfittLic島 』麟LC. APPRAISAL e cO∥sULTAT10譴 ・ REALTORS || CARLSON,NORRIS AND ASSOCIATES,日 NC. ― APPRA:SAL・ CONSuLTAT:ON・ REALTORS C. Wrr-uaM C^Rrsoit, MAl, SRA J. LEE NoRRt3, MAl, SRA STATE<ERTTFIED GEHERAL STATECERTIFIED GENERAL REAL ESTATE AFPRAISER R2667 REAL E TATE APPRAI3ER Rz64:ibcarlsonocadsonnorrls.com lnor socarlsonnorais.com July 18, 2017 Collier County Board of County Commissioners Attention: Roosevelt Leonard, R A/-AC, Senior Review Appraiser Real Property Management 3335 Tamiami Trail East, Suite 101 Naples, Florida 341 '12 RE: 962 Acres- HHH Ranch Unincorporated Collier County, Fbnda ?1117 Our File Number: 17-75 Purchase Order Number 4500178486 Dear Mr. Leonard: At your request and authorization, Carlson, Nonis and Associates, lnc. has prepared an appraisal presented in an Appraisal Report ofthe market value for the above referenced real property. Per the request of the client, we have provided the market value estimate of the subject property on an "as is" basis. The subject property is located in southem Collier County adjacent to the north side of lnterstate 75 east of the tollbooth and Collier Boulevard. The subject property contains 962 acres. The property is primarily unimproved. The majority of the habitat is a combination of cabbage palms, slash pine and cypress. There are significant cleared areas where the property has been timbered in the past. The zoning classification of the subject property is A-RFMUO Sending Lands-NBMO and A-RFMUO Receiving Lands-NMBO. The fr.rture land use designation for the subject property is RFMUD Sending Lands within the North Belle Meade Overlay and RFMUD-Receiving Lands within the North Belle Meade Overlay. There is a settlement agreement between Collier County and the property owner which plays an important role in the preparation of this appraisal. The settlement agreement specifically dictates the number of receiving acres and sending acres the subject property has moving fonrvard. As per the settlemenl agreement the subjecl property has access along Blackbum Road, a dirt path which eliends easterly from the end of White Lake Boulevard extension to the southwest comer of - the subject property. This settlement agreement identifies this access as a road that is capable of providing access to the subject property for excavation and residential purposes. The property only has electricity and telephone available at this time. Data, information, and calculations leading to the value conclusion are incorporated in the report following this letter. The report, in its entirety, including all assumptions and limiting conditions, is -an integral part of, and inseparable from, this lefter. Any special assumptions and limiting considerations were especially noted in Section 5 of this report. Your attention is directed to these General Assumptions and Limiting Conditions which are part of this report. t 91 9 couRTNEy DRtvE, sutTE | 4, FORT IVIYERS, FLORTDA 339Ot23993et99t FAX239€367359 CARTSONNORRTS.COM Mr. Roosevelt Leonard July 18,2017 Page 2 The following appraisal sets forth the most pertinent data gathered, the techniques employed, and the reasoning leading to the opinion of value. The analyses, opinions and conclusions were developed based on, and this report has been prepared in conformance with, our interpretation of the guidelines and recommendations set forth in the Uniform Standards of Professional Appraisal Practice (USPAP) of the Appraisal Foundation, the requirements of the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal lnstitute. Carlson, Nonis and Associates, lnc. does not authorize the out-of-context quoting from or partial reprinting of this appraisal report. Further, neither all nor any part of this appraisal report shall be disseminated to the general public by the use of media for public communication without the prior written consent of the appraiser signing this report. Based upon the data contained in this report it is our opinion the subject property warrants a market value for its fee simple ownership and in its "as is" condition as of June 16,2017 of: EIGHT MILL10N TWO HUNDRED THOUSAND DOLLARS ($8,200,000.00). Please refer to the attached appraisal report, plus exhibits, for documentation of the value estimates contained herein. lt has been a pleasure to assist you in this assignment. lf you have any questions concerning the analysis, or if Carlson, Norris and Associates, lnc. can be of further service, please contact us. Respectf ully submitted, CARLSON, NORRIS AND ASSOCIATES, INC. J. l/e Norris, MAl, SRA State-certified general real estate appraiser R2643 COuNTY COMMiSSiONERS ASSOCiATES, :NC TABLE OF CONTENTS SUMMARY OF SALiENT FACTS AND CONCLUS:ONS.........●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●4SECT:ONl―PREMISES OF THE APPRAISAL.....●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●5PURPOSE OF APPRAISAL ¨¨ ¨¨ ¨¨¨¨¨¨…… ……………… ……… ………… ………5FuNCT10N OF APPRAISAL _ ¨ __ ……… ………… … …… … ……… ……………… ……………………………5SCOPE OF VVORK¨¨¨ ¨ _¨… ……………… … …… …… … …………………… …………………………… 6 1NTENDED USE AND USER OF APPRAISAL ¨ ¨¨_………… …………… ………………… ………… ………… … ……8DATE OF VALUE EsTIMATE… … … ……………… … …… … ……… … ………… ………………8DATE OF PROPERTY:NSPECT10N … … ……………………………………… …… … …… … … …8SALES HISToRY¨¨¨__―…… … ……… …………… ………………… ………………………… …9APPRAISAL HISTORY ¨¨…… … ……………………… ………… ………………………… …… … … …………9APPRA SAL ANAYLS S AND REPORT TYPE… …………………………………………………………………………9ExPosuRE TlME ¨……………… …… ……………………… …………… ……… ………… 9 MARKETING TIME_…… … … … … … ……… ………… … ……… 10 ExTRAORDINARY AssuMPT10NS … … …………… … … …… … …11 SECT:ON2-DESCR:PT:ON OF REAL ESTATE APPRAISED.....●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●13 REG10NAL LOCAT10N MAP … ………………………… … … ……… ……… …13 SUB」ECT LocAT10N MAP ¨_ __ …… ……………… … … … 13 COLLIER COUNTY AREA ANALYSIS ………… … ………………… …………… …………… … … …………… … 14 NEIGHBORH00D ANALYSIS ……… … … …………………………………… ……… 28 MARKETAREA MAP……………… … … …… … … ……… ………………… ………………… … … … ………28 MARKETAREA DESCRIPT10N … …… … … … 29 LECAL DESCRIPT10N ¨¨¨ ¨¨¨ ¨¨¨¨ … ………… 32 AssESSED VALUE AND TAXES … … …………… …………………… … … 32 0WNERSHIP … … … ………… ……… 33 SECT:ON3-SiTE DESCRIPT10N.¨¨¨¨・・・・¨¨……・・・・・・・・¨・・・・・・・・・・・・・・・・・・・・・・¨¨¨¨¨¨¨・・¨¨¨¨・・・・・・¨・・¨¨・・・・34 SlTE PLAN …… …………… …… ……………………… ……………………… ……………………… …… 34 SlTE ANALYSIS ¨¨ ¨¨¨¨¨¨… ……… …………………… …………………………………………… … 34 MINING/AGGREGATE ANALYS S¨¨ ¨¨¨… ……… ……… …………………………………40 SETTLEMENTAGREEMENT … … … … ……… ………………………………………40 TRANSFERABLE DENSITY RIGHTS(TDR)D SCuSS ON… … … … … … …………… … ……………41 ZONING AND LAND USE…… …… … … …………… ……… … …………44 SUB」ECT PROPERTY PHOTOGRAPHS … …… …… … …… 49 SECT:ON4-H:GHEST AND BEST USE ANALYSiS.…. ....・・・・・・・・・・¨¨・・・・・・・・¨¨¨¨¨¨・・¨¨¨¨61 SECT:ON5-VALUATION OF THE SUBJECT.………..……………………………………………………・・64 VALUE ESTIMATE BY THE COST APPROACH……… ……… ………………………… …… ……… 64 VALUE ESTIMATE BY THEINCOME APPROACH ¨ ¨¨… …… …………………………………… ………… 64 OF COUNTY COMMiSSiONERS AND ASSOCIATES, iNC VALUE EsTIMATE BY THE SALES COMPARISON APPROACH…… …… …………… …… ………………………64 TDR SALE LocAT10N MAP…………………………………………………………………………… ……………………67 TDR SALES DATA SHEETS………… … …… ……………… …… ………………………… … … …………………… 68 AG LAND SALES MAP…………………………………………………………………………………………………………76 AG LAND SALES DATA SHEETS¨ ¨¨¨¨¨¨¨¨¨¨¨ ¨¨ ¨¨¨¨¨¨¨¨¨¨¨¨¨ ¨¨¨ … …… …… … ……… 77 LAND SALES LOCAT10N MAP …………… … …… ……… … ……………………………… …… …… …… …… 90 LAND SALES DATA SHEETS¨¨¨¨¨¨¨¨¨¨ ¨¨… … … … … … … … 91 RECONC:LIAT10N OF VALUE 109 SECT:ON6‐CERTIFICAT:ON AND LIMITING CONDIT10NS…………………………………………111 CERTIFICAT10N OF」LEE NoRRIS,MAl,SRA ¨¨¨¨¨¨¨¨¨¨¨¨¨¨ ¨ ¨ ¨… … …… GENERALAssUMPT10NS&LIMITING CONDIT10NS ¨¨ ¨ ¨_ __ ¨¨¨¨¨… … SECT10N 7-ADDENDA 111 113 118 119 SEπ LEMENTAGREEMENT…… …………………………… …… ¨¨… … …………… …… ………… 120 ZONING … …¨¨¨¨¨¨¨¨¨ ¨¨¨¨¨¨¨¨¨¨……………………………………………… … … … 141 LAND USE… ……………… …… …… ………………………… … … … …… … …………… …… ……………… … 159 LicENSE FOR」LEE NoRRlS,MAI,SRA¨¨¨ ¨¨ ¨… … ……………………… ………… …… …… … ……164 QUALIFlCAT10NS OF」LEE NoRRIS,MAI,SRA ¨ ¨ ¨………………………… …… ……… …… 1652 COUNTY COMMISSIONERS ASSOCIATES, INC. AERIAL VIEW 962 ACRE HHH RANCH UNINCORPORATED COLLIER COUN7Y,FLORIDA 341173 Summary of Salaent FacG and Goncilusions Propefi Reference: PO Number: Folio Numbers: Date of lnspection: Date of Value: Date of Report: lnterest Appraised: Parcel Size: Gross Acres: Ornership: Parcel Access: Zoning: Land Use: Easements: There is a Collier County road right of way which extends from the west boundary to the east boundary 100 feet north of the southerly boundary being 150 feet wide. Encumbrances/Leases: There are short term catfle and hunting leases on the property, no impact of value. lmprovements: None of any signiflcant value, the property has perimeter barb wire fencing. Oil, Gas and Mineral Rights: Not considered in this analysis Highest and Best Use: Low Density Residential Development (57g Units) COLLiER COUNTY BOARD OF COUNTY COMMISS10NERSCARLSON, NORRiS AND ASSOCIATES,INC HHH Ranch, Hussey Property 4500178486 341 960003,342040003, 328560002,331 320006, 328640003, 330480002, 330840008,329240004 June 16, 2017 June 16, 2017 July 18,2017 Fee Simple 962 Acres 578 Receiving Acres 384 Sending Acres Francis & Mary P. Hussey Jr., Sean Meade Hussey Trust and Winchester Land, LLC A dirt road known as Blackburn Road extending from the end of White Lake Boulevard in an easterly direction to the southwest corner of the subject property. A-RFMUO-Sending-NBMO and A-RFMUO-Receiving-NBMO RFMUO-Sending-NBMO RFMUO-Receiving-NBMO4 COLLlER COUNTY BOARD OF COUNTY COMMISS10NERS CARLSON, NORR:S AND ASSOCIATES, INC Present Use: Value lndications: Final Value Estimate: Appraisal Firm: Appraiser: Low Density cattle production Cost Approach N/A lncome Approach N/A Sales Comparison Approach $8,200,000 $8,200,000 Carlson, Nonis and Associates, lnc. J. Lee Nonis, MAl, SRA State-certified general real estate appraiser RZM3 Section I - Premises of the Appraisal Purpose of Appraisal: The purpose of this appraisal is to estimate market value of the subject property in fee simple ownership as described in this analysis under the reporting requirements of the Uniform Standards of Professional Appraisal Practice (USPAP), as defined by the Appraisal Foundation. Function of Appraisal: To assist Collier County in the possible acquisition of the subject property. Competency of Appraiser: The appraisers' specific qualiflcations are included within this report. These qualifications serve as evidence of their competence for the completion of this appraisal assignment in compliance with the competency provision contained within the Uniform Standards - of Professional Appraisal Practice as promulgated by the Appraisal Standards Board of the Appraisal Foundation. The appraisers' knowledge and experience, combined with their professional qualifications, are commensurate with the complexity of this assignment based on the following: o Professionalexperience . Educational background and training . Business, professional, academic affiliations and activities The appraiser has previously provided consultation and value estimates for large acreage sites and various types of residential, industrial and commercial properties in Florida.5 Scope of Work: The Uniform Standards of Professional Appraisal Practice (USPAP) define the scope of work as: 'the type and extent of research and analyses in an assignment". "The scope of work includes, but is not limited to: the extent to which the propefty is identified, the extent to which tangible propefty is inspected, the type and extent of market research and the type and extent of analysis applied to arrive at opinions or conclusions." The scope of work has been to collect, confirm, and report data. Other general market data and conditions have been considered. Consideration has been given to the property's market area, physical characteristics as well as zoning, land use and highest and best use. The work performed for this assignment included but is not limited too: . Extent to which the property was identified o The property was identified by the Folio numbers and the legal description provided by Collier County/Real Property Management. o Extent to which the property was inspected o An inspection of the subject property was done on June 16, 2017 . An inspection of the property by buggy was accomplished. Those attending at the time of the inspection included Mr. Billy Rollins, property owner's representative, Mr. Roosevelt Leonard, Review Appraiser for Collier County, Gerald Hendry, MAI Appraiser as well as myself, J. Lee Nonis, MAl. ln addition to the ground level inspection, aerial photography was available through the Collier County Property Appraiser's office as well as Google Earth have been given consideration. . Type and extent of the market researched lnvestigation of public records for the properties' zoning, land use, flood zone information, county property appraiser's records for attributes of the subject property itself. o Collection and analysis of sales of TDR's in Collier County as well as acreage and AG land sales in the southwest Florida market area in order to form a market value opinion.6 COLLIER COuNTY BOARD OF COUNTY COMMiSSiONERS CARLSON,NORRiS AND ASSOCIATES, lNC . A number of sales, lislings as well as TDR transactions have been used in this analysis. The land sales have been verified by the buyer, seller, broker or representative thereof. The TDR transactions have been confirmed through the Planning Department of Collier County. . Type and extent of analysis applied o The value opinions presented in this report are based upon review and analysis of the market conditions affecting real property, including land values, the attributes of competitive properties, and sales data for similar properties. o Reconciling the value indications from the appropriate approaches to value into final value opinions for the subject property; all as of the effective date of this report. o Preparation of a written report. To develop the opinion of value, Carlson, Nonis and Associates, lnc. performed an appraisal as defined by the Uniform Standards of Professional Appraisal Practice (USPAP). ln this appraisal, Carlson, Nonis and Associates, lnc. used the Sales Comparison Approach to develop reliable value indications. Neither the Cost nor the lncome Approaches were applied in this appraisal. The Cost Approach was not applied since there were no improvements to consider. Vacant land is typically not purchased for its ability to generate an income stream. Therefore, the lncome Approach was not applied. Furthermore, the value conclusions reflect information about the subject property and current market conditions. This appraisal of the subject property has been presented in an Appraisal Report, which is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the USPAP. Property Rights Appraised: The property ownership rights appraised in this appraisal are those known as fee simple.7 OF COUNTY COMMISSIONERS AND ASSOCiATES, lNC Fee Simple lnterest is defined as: "Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the govemmental powers of taxation, eminent domain, police power, and escheat."l lntended Use and User of Appraisal: The intended use of the appraisal is to assist the user, the Collier County Government in the potential acquisition of the subject property. Market Value Definition: As defined in the Agencies' appraisal regulations, "The most probable price that a property should bing in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the pice is not affected by undue stimulus. lmplicit in this definition are the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: o Buyer and seller are typically motivated; o Both pafties are well informed or well advised, and acting in what they consider their best rnteresfs; o A reasonable time is allowed for exposure in the open market; . Payment is made in terms of cashrn US. dollars or in terms of financial anangements com p arable thereto; an d . The pice represents the normal consideration for the propefty sold unaffected by special or creative financing or sa/es concesslo ns granted by anyone associated with the sale." (Source: lnteragency Appraisal and Evaluation Guidelines; December 10, 2010, Federal Register, Volume 75, Number 237, Page77472) Date of Value Estimate: Date of Property lnspection: Date of the Report: 」une 16,2017 」une 16,2017 」uly 1 8,2017 1 Unless otheMise noted, all defnitions in italics are taken from The Didionary of Real Estate Appraisal Sixth Edition, the Appraisal lnstitute, Chicago, lllinois (U.S., 2010)8 COLLIER COUNTY BOARD OF COUNTY COMMISS10NERS CARLSON, NORRiS AND ASSOCIATES, lNC Sales History: The Uniform Standards of Professional Appraisal Practice requires a statement of the listings, sales contracts, and sales history of the subject property for the five years prior to the appraisal date. The analyst is aware of no sales contracts for the five year period prior to this appraisal date. Therefore, there is no sales history. The analyst would advise that the property owner has recently contracted with the real estate firm of Land Solutions, lnc. to assist them in potential marketing of the property. An asking price has not been established. An offering memorandum document has been developed which has included the input from Land Solutions, the executive team of Randy Thibaut, Billy Rollings and Ron lnge of lnge and Associates, along with the engineer RWA Consulting, (Patrick Vanasse) as well as the environmentalists Synecological Analysts (Brown Collins). Appraisal History: Carlson, Norris and Associates, lnc. as well as J. Lee Norris, MAI, SRA individually have had no prior involvement with the subject property or the subject owner. Appraisal Analysis and Report Type: The Appraisal Standards Board controls the process of making an appraisal of a parcel of real estate. The Board issues rules and guidelines from which all appraisals and resulting reports are made. The process of administration of those rules and guidelines is addressed to the Real Estate Appraiser Commission of each respective state. The Appraisal Standards Board issues the rules and guidelines in the form of a document update published each year by The Appraisal Foundation. That document is entitled "The Uniform Standards of Professional Appraisal Practice' (USPAP). As of January 1, 2016, the two types of appraisal types are; Appraisal Report and Restricted Appraisal Report. The following deflnitions have been adopted for each type of report: . An Appraisal Report: A written report prepared under Standards Rule 2-2(a). o Restricted Appraisal Report: A written report prepared under Standards Rule 2- 2(b) This appraisal is reported in an Appraisal Report format. Exposure Time: Exposure time is the estimated length of time the properties would have been offered prior to a hypothetical market value sale on the effective date of appraisal. lt is a retrospective estimate based on an analysis of recent past events, assuming a competitive and open market. lt assumes not only adequate, sufficient, and reasonable time but also adequate,9 COuNTY COMMiSS10NERS ASSOC:ATES, INC sufficient, and reasonable marketing effort. Exposure time is therefore intenelated with appraisal conclusion of value. An estimate of exposure time is not intended to be a prediction of a date of sale or a simple one- line statement. lnstead, it is an integral part of the appraisal analysis and is based on one or more of the following: . statistical information about days on the market . information gathered through sales verification . interviews of market participants. The reasonable exposure period is a function of price, time, and use. lt is not an isolated estimate of time alone. Exposure time is different for various types of real estate and under various market conditions. ln consideration of these factors, we may have analyzed the following: Exposure periods of comparable sales revealed during the course of this appraisal; Macroeconomic exposure times for the subject property type across the Subject MSA and the entire United States as published in multiple articles and websites. Knowledgeable real estate professionals. An exposure time of two years or less for the sale of the subject site appears to be reasonable and appropriate. This exposure time assumes the subject would have been competitively priced and aggressively promoted within the market area. Marketing Time: Marketing time is the period a prospective investor would forecast to sell the subject properties immediately after the date of value, at the value estimated. The marketing time is an estimate of the number of months it will require to sell the subjects from the date of value, into the future. The anticipated marketing time is essentially a measure of the perceived level of risk associated with the marketability, or liquidity, of the subject properties. The marketing time estimate is based on the data used in estimating the reasonable exposure time, in addition to an analysis of the anticipated changes in market conditions following the date of appraisat. The future price for the subjects (at the end of the marketing time) may or may not equal the appraisal 10 COLLIER COUNTY BOARD OF COuNTY COMMiSSiONERS CARLSON,NORR:S AND ASSOCiATES,lNC estimate. The future price depends on unpredictable changes in the physical real estate, demographic and economic trends, real estate markets in general, supply/demand characteristics for the property types, and many other factors. Based on the premise that present market conditions are the best indicators of future performance, a prudent investor will forecast that, under the conditions described above, the sale of the subject site will require a marketing time of approximately two to three years. Extraordinary Assumptions: Extraordinary assumptions are defined as: "An assumption, directly related to a specific assignment, which, if found to be false, could alter the appraisels opinions or conclusions- Extraordinary assumprbns presume as fact otherwise unceftain information aborLt physical, legal, or economic characteistics of the subject propefty; or about conditions extemal to the propelA such as market conditions or trends; or about the integrity of data used in an analysis. An extraordinary assumption may be used in an assignment onty rt o lt is required to propedy develop credible opinions and conclusions; . The appraiser has a reasonable basis for the extraordinary assumption; . Use of the extraordinary assumption results in a credible analysis; and . The appraiser complies with the disclosure requirements set forth in USPAP for extraord in ary assu m ption s." Please note the following extraordinary assumptions: . An expert soil analysis has not been provided for the preparation of this appraisal. ln the absence of a soil report, it is a specific assumption that the site has adequate soils to support the highest and best use. The analyst is not an expert in area of soils, and would recommend that an expert be consulted. o lt is assumed that there are no hidden or unapparent conditions to the property, soil, or subsoil, which would render them more or less valuable, Subsurface oil, gas or mineral rights were not considered in this report unless otheruise stated. The analyst is not an expert with respect to subsurface conditions, and would recommend that an expert be consulted. . lt is assumed that there are no toxic or hazardous materials either at ground level or subsurface. The analyst is not an expert in the valuation of site contamination, and recommend that an expert be consulted. 11 The settlement agreement is the defining document as to the number of receiving acres, sending acres and ac@ss. 12 COLLIER COUNTY BOARD CARLSON,NORRIS OF COUNTY COMMISS10NERSAND ASSOCIATES, INC. Section 2 - Ilescription of Real Estate Appraised Regional Location Map Subject Location Map 13 COLLIER COUNTY BOARDCARLSON,NORRIS OF COUNTY COMMISSIONERSAND ASSOCIATES,INC. COLL:ER COUNTY AREA ANALYS:S The subject property is located within Collier County, Florida, some 150 miles south of Tampa and some 140 miles northwest of Miami. Collier County is located on the extreme southwestern portion of the state of Florida. Collier County was created in 1923 and was separated out from what was a larger Lee County. Collier County is named for Barron Collier, a New York City advertising mogul and real estate developer who had moved to southwest Florida and established himself as prominent business man and land owner. By the end of the decade railroads and Tamiami Trail were in-place which opened the area to agricultural and resort development. Florida's flrst commercial oil well was drilled in 1943, and the county's pine and cypress logging industry flourished into the 1950s. The county's economy boomed along wlth its population shortly after World War ll. ln a short span of 30 years the population increased from 6,500 to 86,000 by 1980. The economy was sustained from agribusiness, tourism and real estate. This turned the county into one of the fastest growing areas in the country. PHYSIGAL FACTORS It is the largest county in the state in terms of land area with 1,998 square miles which includes 821,600 acres of preserves, paks, and refuges. Along with the land area Collier County also has 307 square miles of water to give Collier County a total size of 2,305 square miles. The most highly developed areas within the county are west of lnterstate 75 and along the coasfline of the 14 COLLIER COUNTY BOARD OF COUNTY COMMiSSiONERS CARLSON, NORRIS AND ASSOCIATES,INC. Gulf of Mexico. Development becomes increasingly sparse the more easterly the location in the county; and these easterly areas of the county contain a considerable amount of preserved land. There are three incorporated cities within the county; namely City of Naples, City of Marco lsland, and Everglades City. The county is famous for its subtropical climate with average high temperatures ranging from 78o F. in January to 92o Fahrenheit in August. The average annual precipitation for the county is 56 inches. This area is also subject to tropical storms and hunicanes. The hurricane season runs from June through November. JanuaFy …hch Aprt mv Jun● July …September …餞mber … 65.67・ 颯 63・ 67.23・ 74.83・ 78.6・ 81.98・ 83・ 33.87・ 82.93・ 77.3・ ■77・ 65.98・ 78.67・ 79.03' 31・ a2・ 90,15° 91.48° 1月 口L″`,243・ 91.33・ 86.33・ 81.33・ 248・ 52.63' ■2' 53.45° 62.30° 67・ 72.54' 75.`38・ 75.33・ 74.53・ “ .2・ 59.77' 54.45° Jrnurry Fcbruary Itrrch April lry Jun+ Juty Auort S.ptGmbcr Octobor Ngrrcn$cr Dacca$cr 0.52 lncher l.9l lnches 2.62 lnchcr 4.32 lncher 4.I8 lnchcs 9.82 lnchcr 5.74 lnchcs 8.91 lnches 9.01 lncher 5.24 lnchcr 0.82 lnchcr 2.9 Inchcs Ohhs C hches Oい 由●50 hChe3 0 hches C hches O躊 O hch O inch‐ ●hch‐ O lnches Oh由 ●3ECONOMIC-FINANCIAL FACTORS There are numerous economic factors that impact the supply and demand for all types of real estate and specifically housing in any given area. These factors will be considered and discussed in the following paragraphs. Although these factors are considered individually, they do not act as independent agents in the marketplace. They interact and effect, one another. Therefore, the economic-flnancial factors considered, should be considered in totality, as a part of the economic framework. Poputation: Collier County has 365,136 people living there as of July 2016 making Collier County Florida's 17h most populous county. Collier County had a population of 321,520 in 2010 and they have experienced a 43,616 person increase over 5 years or 13.6% growth. 15 Coltier County, FL Histori..al Temperature IC。彎er c,untI FL脳 中maⅢⅢ硫IAver警 o l 肺 Av●_ JL A…繊nA― 「 |い A競 拳 Ral鮨 ∥ ― ‐―・・I COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON,NORRIS AND ASSOCIATES, INC. O popr,.oon cafindes, Juty t, zlt6,012016) O popur*on ertimelG bsc, April 1, 2010, flafi 6) O to*'*n, percent chmeG - Apd 1, 2010 t clim&s ba6e) !o JuB' 1, AXS, (UXlr6) O Pop,,,r-, Ccn$rs, Agil 1,2010 〕瞑5,1“ 321,520 13696 321,520 Additional population estimates reflect population projections from the yeat 2015 to the yeat 2040 and compare the five counties in the southwest Florida area. The counties include; Glades, Hendry, Charlotte, Collier and Lee. The population estimate for the year 2015 for Collier County is 345,100 and increases to 492,533 in year 2040. This represents a 43o/o increase in population over this 25 year period. 2バ ЮO ; 1,800 1.鰤 1′400 1,200 1,CЮ0m 600 400 Popu:ation proieCtiOns 2015‐2040 2∞0鮨 '● ●●●7●●●tttrrom Fmd■D_“phiC〔載:閥 ,電 Conferec●.FJn関 ry 2014●nd UF EEet Fl●●d■'中 Itわn Sttldles.Apri:2014. Demographics within Collier County are predorninately VVhite at 89.5%, fo∥owed by Black or African AmeHcan at 7.3%,Asian at l.4%,Amencan:ndian and Alaska NaJve at O.5%,Native Hawaman and Other Paciflc lslander at O.10/O and then two or rnore races filling Out the rernaining l.2%. 16 2015 il l.2025 2030 2035 2040 tGlades 12.894 13■78 14011 14.496 14.890 15。227 I Hcndry 33.121 39,011 39,741 4』L215 鴨 .●70 4Q892 166,304 174=121 180ps8 186,962 192,774 197,729 ■C●l∥er 〕45,100 379,059 411,368 411,903 470.609 492.533 ■L"●731326 7終 ,6,1 817,8,8 911.47,9'り 03,:メ メい,32〕 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS CARLSON,NORRIS AND ASSOCIATES,INC. O **.,r., *cnt Jury 1, 2016, (v2or6) ial Q **.,*. p"rccflt, &ril 1.2010 (a j Q Brtx or rNcan Amfiic& il0,r, p?fcGnt Juty l, a}16, g4016) ie) $ Bncr u ftican Arnericrn rlsp, ffi ent, Aprii 1. a)10 ial $ nmericrn tnoian and Ahska Nati/e ahnc, pcrced. Juty 1, ltr6, M016) ia) $ rmerican tnoian ind AEskr Nrtivs alons, p€rcefli. Ap{i 1, m!0 {at O 0.,.n.,0*, p.oent, July 1, 2016, Moro) (al O rcirnrtone, per.cni,AIri; 1, 2010 ia) $ laue xaraiian rnd drer P.crfic lslrd.r do,t , pc$ent .rr, t, I}1$. (!2016) (a) Q NArve Xrwriian rnd OtEr Ptcifr Hrld.r rlo/-le, psr€(d. AprB 1, 2010 (al $ t*o o, tr,tore nrc.i, psc$t, Juty t, 2016. (!12016) $ tum or uore Races. percent, April l, 2010 895% 83螺 73% 66% 05% 03% 14% 1106 01%Z1296 1螂 Tourism: Tourism is important business for Naples, Marco lsland and the Everglades. As the leading employer and the primary economic engine for the region, the tourism industry is responsible for over 34,000 jobs in Collier County. About 1.8 million visitors in 2016 spent over $1.32 billion dollars, resulting in a total economic impact of over $1.98 billion to Collier County. Collier County enacts a 4o/o tax on all hotel, campground and vacation rental stays of less than six months. The distribution of tourist development tax dollars is set according to Collier County ordinance. The funds are dispersed as follows; Category A is beach related projects and re- nourishment, 50% of the first2o/o allocated for beach re-nourishment, beach park facilities and inlet management. 100o/o of the third percent collected is allocated to beach re-nourishment, beach park facilities and inlet management. Category B is tourism promotion, 24o/o of the first 2% collected pays for tourism administration and for re-imbursement of emergency advertising funds. 1Q0o/o of the fourth percent pays for tourism advertising and promotion. Category C is museums, 260/o of the first 2% is allocated for museums. County owned museums receive 22o/o, tlon-county museums receive 4.7 60/o. New Development: A relatively new town is developing in the eastern part of Collier County known as Ave Maria. The town is located on what was once largely agricultural land is centered around Ave Maria University, the country's newest Catholic University. The university opened its doors in2007 and currently has about 1,110 students with plans to growto 1,500 by year2020 and then ultimately grow to around 5,500 undergraduate and graduate students. The town is designed to be a compact, walk-able, self-sustaining town that reflects the community's rural roots 17 while offering a full range of residential options and commercial services to its residents. The Ave Maria community totals about 5,000 acres, of which nearly 20o/o has designated as the University Campus. A Town Core anchored by the landmark oratory that also incorporates retail, commercial, and residential living space provides a central connection between the town and the university. Business is expanding in Collier County as evidenced by a surgical device company that recently broke ground on a site near Ave Maria University to build a $25 million manufacturing plant. This construc{ion project is expected to bring 500 construction jobs to the area this year; and once complete, the plant will employ 400 to 500 workers. Ave Maria has experienced a sever mosquito problem and as a resutt they have been sprayed more than 30 times by very safe pesticides in 2015 making it the most sprayed area in southwest Florida. Employment: The unemployment rate in Collier County decreased to 4.0% in March 2017, down from March 2016 al 43% and down from 4.5o/o in February 2U7. fhe overall trend of unemployment has been trending downward. From January 20'10 until now, Collier County has experienced downward trends in unemployment getting as low as 4.0%. The chart below depicts this continual downward trend along with total employed data and unemployed. Collier County's largest employment concentrations continue to be in industries that are fueled by population growth. The retail trade, construclion, and healthcare and social assistance industries have the most employees in Collier County. Those three industries combined employ more than 48,000 people in Collier County. The fourth largest industry in Collier County is the accommodation and food service industry, which employs more than 14,000 people. B`8889■■■■■11=515111:』 18 lJcr Fc.aa ,rd tharnployh.nE CcI.t Cci nty COLLIER COUNTY BOARD CARLSON,NORRIS OF COUNTY COMMAND ASSOCIATES,ISSIONERS INC. Manufacturing Major employers in Collier County are Collier County Public Schools with 5,281 employees, NCH Healthcare System with 4,000 employees and Publix Supermakets with 2,805 employees. As the Collier County population matures, employment in the healthcare industry will continue to make up a larger part of overall employment. Collie/s top 10 employers are listed below. Col:ierCountyPubiicschods NCH Healhcare System pub∥x Superrnark由 Co∥ier County Covernment(exCI She薔 “)Col:lerCountt She酬 「S Ofl●● Gargiulo inc Rit2 CattOn ttotel Atthrex.hc Hometowninspedion Services WaldorfAst●轟a{Registry Reso咸)MarriottCorpo餞 詭n 5、231 4000 2.305 2211 1.389 1110 1.110 1056 900 760 700 19 Healt銀 care ll Sooial ASsis機 轟ce Educational $ervices Admin., Waste Support, Professional, 鶏anagement... Retall trade Scientific,Iech Services OtherseFViCt except,豪 ね111 ■JminiRIrA1118 Acc導 熙o感 atiOn&Food.4, AFlS,Eatettainttent,RecFe310n [nnstruction lalormaion sdesakrrdr Emp:●yer i Emp10yees OF AND Taxes: Florida is one of the few remaining states without a personal income tax. The absence of personal income taxes draws many people to Florida. Businesses enjoy additional incentive of low corporate income taxes. The Florida's tax rate ol 60/o is one of the lowest in the U.S. and far below the 12o/o levied by some states. The largest share of households in Collier County pay $3,000+ in property taxes. The Florida statutes provide for the annual assessment and collection of property taxes on real and personal property. Property taxes are assessed and collected at the county level as revenue for counties, municipalities, school districts and special taxing districts. The tax rate is set by the taxing authority. One mill is equal to $1 per $1,000 of property value. The total just value for all real estate property types in Collier County for 2016 was $102,036,066,350. Prices: A price index is a toolthat simplifles the measurement of price movements in a numerical series. Movements are measured with respect to the base period, when the index is set to 100. As of December 2016 the cost of living index in Collier County is 124 meaning that generally speaking the cost of living is more expensive in Collier County than the average cost of living throughout the United States. Furthermore, Groceries are at 102.4, Housing is at 175 which is very high and Health is at 100 and below you can see the rest of the table and how it compares to the United States. Grocery 0 Health● Houslng 0 UJ:籠 es● Transportation ● Mis〔ellaneous(D 102.4 100 Banking/lnterest Rates/Financing: As of late June 2017 the prime rate was reported at 4.25%. Approximately one year ago the prime rate was 3.50%. The federal discount rate is most recently reported to be 1.75o/o, a year ago was about 1o/o. The federal funds effective rate is 1.18o/o. 20 CollieL目 o百 da unk」5油 tes COLL:ER COUNTY BOARD OF COUNTY COMMISS:ONERS CARLSON, NORR:S AND ASSOCiATES, lNC Currently the rate for a Freddie Mac 30 year fixed loan is 3.88%, 15 year fixed loan about 3.17%, and a five year ARM at about 3.17%. Mortgage rates have shown volatility up and down over the last year. The trend is expected to be for higher interest rates moving forward. prime mtesI U S.Efrec」ve Date:6,15′2017】 52 WEEK US_ canada 」apan Latest wk ago High Low 4.25 425 425 350 2.70 270 270 270 1475 1475 1475 1475 Financing both commercial and residential properties became difficult during the downturn in the economy. Financing for vacant land is the most difficult. Vacant land is currently being purchased by investors with cash and expectation of longer holding periods. Generally financing of improved properties requires loans ol 60o/o-75Yo of commercial properties and 90%-95% financing available for residential properties. Real Estate and Housing: Gollier County was spared from the national economic downtum (2007-2009). Collier County experienced a significant increase in residential and commercial property values from 20M through 2006. Several news publications rated Naples as the most over-valued area of the country with respect to residential housing values. The decline in residential property values began in 2006. lnventory levels began to rise as investors and owners positioned themselves to sell at a significant profit. However, buyers were reluctant to purchase any property with a sense that the economy as a whole was headed for trouble. Many investors were not able to meet their carrying costs and properties went into foreclosure. Southwest Florida became the epicenter for residential property foreclosures with communities such as Golden Gate at the forefront of the crisis in Collier County. Residential construction projects in various stages of development were stopped as housing inventories continued to rise and prices began to fall significantly. Southwest Florida thrived on the residential construc{ion industry; and with no homes to build, this industry was quickly decimated. Contractors that supplied this industry typically ran their businesses from various industrial locations in Collier and Lee Counties. This type of property was the first commercial property to be adversely affected with retail and office properties following. 21 COUNTY COMMISS10NERSASSOC:ATES,:NC There are 24+/- industrial parks and parks of commerce located throughout Collier County. Each park is proximate to lnterstateT5 for connection to major air transportation and water ports. Collier County's zoning allows the flexibility of properties of 't9 acres or more to be zoned as Research and Technology Parks, which are based on commerce parks and offer advanced infraslructure to attract technology based businesses. Single family permits are an indicator of health in an economy of a given area. Below is a chart showing single family permits monthly averages from 2007 to 2016. ln the bottom of the recession in 2009 Collier County fell below 50 permits per month. The total for April2017 was +/- 245, down about 20 from April 2016. Single family permits identify houses under construction and therefore reflect jobs in the construction industry. Permits for Colller Median sales price in Collier County for single-family homes was around 9400,000 in April of 2017 which is lower compared to what it was around the same time last year while Collier County. Ioal Racarn il lo.rdl. Dab md Tnnd 22 ¨ 鰤 詢 121● COUNTY COMMISSIONERS ASSOCIATES,INC. 'fsffiH,*tlreEiltdto!B- ia.pl6Ae lord ol tc*rrC 0llH rftE*rlw Total foreclosures have gone down over the past year in Collier County and the total percentage of foreclosures sits at 0.05% compared to 0.09% in Florida and 0.06% nationally. I Totat Fore(losures ■■C●t賠 ■■Fl"毬 a ■■巌戴onal O.10- ´ ――― ――.個 L ~ Transpoftation: The infrastructure of the county continues to see improvements. lnterstate 75 has been widened to six lanes from Fort Myers to Golden Gate Pakway in Naples. The County recently widened several major conidors such as lmmokalee Road, Collier Boulevard, Rattlesnake Hammock Road and Goodlette-Frank Road. East Naples was not overlooked, with road widening projects along Collier Boulevard, Santa Barbara Boulevard and Radio Road. Major north south roads are: US 41, lnterstate 75, Airport Pulling Road and Livingston Part<way. The Collier County Government has worked diligently to develop an efficient road system that will accommodate future growth; and it is likely to continue to develop the necessary road infrastructure in the years to come. ColttrCounv聰 Lti00 31ngh F覇 け赫回腱 6●●●・ br R“機n0 ra‐――書_一 Cdler MEIBn Salc Prlce――――Ho"腱 罐Sold■籠n― 23 OF AND Southwest Florida lnternational Airport (RSW in Fort Myers, Florida satisfies the passenger traffic needs for the fast growing population of Southwest Florida. RSW is the eighth fastest growing airport in the nation, servicing more than 8 million passengers a year. More than two dozen commercial airlines currently serve Southwest Florida Regional Airport with non-stop service to more than 27 domestic and two international destinations. The Southwest Florida lnternational Airport also maintains customs clearing facilities for international cargo. RSW is located off lnterstate-7S in South Lee County, an approximate 30 minute drive from most areas of Naples. ln 2005 the airport was completely updated and expanded to meet the growing demand of area businesses and visitors. The $386 million ultra-modern complex includes a two story terminalwith 28 aircraft gates along three concourses, a new taxiway, and new parking options that includes a three story parking structure. The facility will allow for incremental expansion up to 65 gates. Construction was recently completed on a direct ac@ss connection between l-75 and the airport. Total passenger activity for the three Southwest Florida airports grew to 1,550,664 in March 2017, a small fractional increase of O.2-percent increase over March 2016, but a 33-percent jump from the prior month of February 2017. Premier lnternational reported Southwest Florida lnternational Airport passenger activity of 1,252,124 in March 2017 , up 32 percent from February 2017. The Naples MunicipalAirport is a fully certificated air carrier airport. The airport also provides FBO services for general aviation including fueling and catering. lt is the home to charter airlines, aircraft maintenance facilities, a restaurant, fire/rescue services, mosquito control, car rental SouEq Is.llhportAuusiihr 24 Chart 1: SIAI Florida lnternadonal Passencer Activitv Jil F.b lr.. Apr liry Jm Jrl Are S.9 Oct tttov Dc COLLiER COUNTY BOARD OF COUNTY COMMiSS10NERS CARLSON, NORRIS AND ASSOCiATES,lNC agencies, the Collier County Sheriffs Aviation Unit, flight schools, the Humane Society, and over 40 additional aviation and non-aviation businesses. The airport encompasses approximately 732 acres of land, approximately two miles northeast of Old Naples with convenient access to major roads and lnterstate-7S. POLITICAL-GOVERNMENTAL FACTORS The county government is headed by a Board of Commissioners. There are five commissioners, each assigned to a specific geographical area within the county. A County Manager coordinates most of the departments including county services, public services, community developmenUenvironmental services, utilities and transportation. The county is currently experiencing a decline in revenues which will result in future capital improvement plans being significantly cut back. Additionally operating expenses are under increasing pressures due to legislative mandates from the stale, escalating costs of property insurance and health benefits, and the overall economic downtum. Collier County has experienced a change ol 9.14o/o in budget between FY 2017 and FY 2016. Total net county budget in FY 2016 was $98'1,375,400. The FY 2017 lolal net county budget is now $1,071,028,900. cOm“けc側 町FY 2017 0udrt姉 暉 ,71o ,v17 Ⅳ17 ,V,, Ot! 18.5 r.r P..i\ Fh.r f lErlnElotdlltirif Clrf.. Cr|lf- l5.l!,EhpdF.- ldrPt.d lgia ,rrdrl l..s'l*q bylr … Cu… ‐壼号 コ ヽC… 211.‐311 “ が 311 颯 ⅨЮ 呻 凛Ю 。 ―御・ ・・4SS4… 中 1・ 鰤 O m.1●鰤 ||“日`14夕 “ ,∞ 13.170.“Ю 0 1■1■o∞ 6041L 21■eS.lm a 2o2.m ム||1 4"r.“n ● “|●t― ●´"詢 0 ●´白■珈 ‐1,331凛 |10 37"口 0 3ア ロ ‐ 22“m円6 0 0 1 1 饉ヘ …… 37印 “ 曖m aneL輌 " s"““ ●3m O―76凛 100 1'力 7.50● 0 ●137.3m l」詢円■|17.1070" … 1.:∞ 1・ 繁 ¨ ‐コn,∞ 204■ `3■ 口●5101 (3●●●・m o ●6ぉ """0) ●轟 1●Ⅲ摯ユ211 ■ “ P23‐ ●1錢 ||1 1,●"".鰤 ,1‐7●d――― ‐R‐nu●● 4'3●お 311 “ ,■'■‐ 1難 ||| ●劇口田嗜¨ ■1ヽ "1'… 1鳳 1"鮨 … 1‐」出剛L ●141L Education: The Collier County public school system curently contains a total of 56 schools with 45,000 students and 3,200 teachers. Collier County averages 2,700 graduates per year. The below chart shows more detail with regards to the public schools system. leaa hErlurd TlardaB loul lll Gosiiy edgi 25 COLLIER COUNTY BOARD OFCARLSON,NORRIS AND ONERS Collier County is home to several colleges and universities. As mentioned, Ave Maria University is a newly established Catholic University offering liberal arts oriented baccalaureate degrees as well as some graduate degree programs. The county is also home to branch campuses of Florida Southwestern State College and Florida Gulf Coast University. Collier County has a high level of education attainment compared to other counties in Florida and compared. Collier County has 32o/o of their people attain a bachelor's degree of higher compared to 27o/o in Florida and 29%o in the United States. Only 14o/o of those within Collier County have less than a high schooleducation. flgln ,. G.-.r Co.!*r, aL adEtIo.! Altlfner* l, frnl Corrrpu{ron (Ag. lt+ } O I xo rarmmg I LBr thln Hch Srhool I HiIh Sliool or GED I Brch.ioB Drge or highrr Som 6$a9r o/Altocillo Orgm 雌■=■■■■■ET= 50% 25% 0%どがぴや力争析 プト+■ダ 26 摯l響 lTO参 COuNTY COMMiSSiONERS D ASSOCIATES, INC SOCIOLOGICAL FACTORS Recreation: Collier County offers a vast variety of natural and historical attractions. Places to visit include the 52 acre Naples zoo, collier county Museum, Big cypress National preserve, Museum of the Everglades, Naples Botanical Gardens and many other reserves, museums, zoos, etc. Healthcare: Within Collier County there is the Naples Community Hospital, North Collier Hospital, Regional Heart lnstitute, NCH Wellness Centers and other various clinics. Being the largest county in Florida with a total area of 2,305 square miles its medical facilities manage to cover it all. Helicopter usage cuts critical minutes from transport lime. 78.7o/o of those within Collier County have health insurance compared to 80.4o/o throughout Florida and 85.8% throughout the United States. The highest percentage ofthose without healthcare coverage from people making g5O,OOO and less. 「―■―‐ご―贔H●‐―― O O% ヨあ !00%3% 76% riE.: hEi rt* rrh i. rMN ar a'EqE c,q, @ ご多`事 ,f」t・ ヾ SUMMARY Collier County is located along the west coast of Flodda along the Gutf of Mexico. The climate is sub{ropical with mild winters that allow for year round enjoyment of the many attractions this area offers. Collier County is a desirable destination for residents and non-residents alike. ln spite of the many positives, portions of Collier County were greatly affected by the past housing debacle which resulted in a significant number of residential foreclosures, trends have been positive in most recent years though. While the cunent "improving" economic climate will keep commercial and residential development at bay in the short term, the availability of commercial vacant land, the county's numerous natural attractions, and the anticipated future population grov(h will bode well for this area over the long term. 27 COLLIER COUNTY BOARD OF COUNTY COMMISS10NERSCARLSON, NORRiS AND ASSOC:ATES,INC. Collier County is considered to be a wonderful place to live. There are tremendous opportunities as far as employment is concerned in many different industries. The diversity of job opportunities spans a significant range from low income persons to jobs of very high income people as well. There are tremendous recreational facilities with numerous golf course, beaches and recreational paks, not to mention the significant amount of land that is federally held in conservation in the eastern portions of the county. The public school system is good and provides for a well-rounded public education for the students that reside within the county. Median sales price in Collier County for single-family homes was around $400,000 in April of 2017 which is slightly lower compared to what it was around the same time last year. NEIGHBORHOOD ANALYSIS Neighborhood Analysis: Neighborhood analysis is defined as: "The objective analysis of obseruable and/or quantifiable data indicating discemable patterns of urban grovvth, structure and change that may detract from or enhance property values; focuses.on four sefs of considerations that influence value: Socla/, economic, govemmental and environmentalfactors." Source - The Appraisal lnstitute, The Dictionarv of Real Estate Appraisal. Sixth Edition. Chicaoo Appraisal lnstitute.2010. Market Area Map B″d RookerySwamp 亀 ヽ●薔h Nap.Os 「111 Ll..irgei'iF vireyaid r Go den GJli Rcsidential and commercial High School @Fsr.st Glen GCC Cffir Hammock Gcc N.plcs Lakrs GCc Le, Elementary School 5,ubiect Property ^€PjcaYi.r,'tt: Sl,.ilr;ri SlJI{-,f{rr[,sf Florida Nar漁 - Zoo AiroortHospital lyf′drlreO N。1)icS ,ュl Botan色|Botan7こ ЪI Garde“ 28 OF COuNTY COMMiSS:ONERSAND ASSOCiATES, INC Market Area: Market area is defined as "The geographic region from which a majority of demand comes and in which the majority of competition is located. Depending on the mafuet, a ma*et area may be fuiher subdivided into components such as primary, secondaty, and teftiary market areas, or the competitive ma*et area may be distinguished from the general market area." Source - The Appraisal lnstitute, The Dictionarv of Real Estate Appraisal. Sixth Edition. Chicaoo Appraisal lnstitute. 201 0. The subject property is geographically some 16 miles east of State Road 29 in southern Collier County, seven miles south of lmmokalee Road and '12 miles west to the Gulf of Mexico. A market area generally goes through four stages during its life cycle. These four stages include the "growth" stage which is the period during which the market area gains public favor and acceptance. The "stability" stage is the period of relative equilibrium without market gains or losses. The "decline" period is when there is diminishing demand in the area and the fourth and final stage is "revitalization" which is period of renewal, modemization and increasing demand. Based upon the observed conditions within the defined ma*et area, it is the analyst's opinion the market area is in the grovvth stage of its market life cycle. Due to the subject's location on the eastem edge of Collier Counly development, its lack of infrastructure, supporting services and facilities we have stated this area is in the grovvth stage. lt is in the infancy phase of the grovvth stage. There is limited development east of the subject property at this time. Scattered development to the north and south of the subject property is the main reason for the beginning stages for the growth cycle. Preliminary plans for more development in eastern Collier County exists. These plans call for more residential development. Collier County is currently preparing for an overall expansion of 1,000,000 residents within the next 75 years. Cunently at peak season there are 400,000 residents in Collier County. The Community of Golden Gate Estates is expected to grow by 10,000 people in the next 10 years. There is constant pressure on government agencies to rezone properties to allow for more development. Cunently 77o/o of lhe lands in eastern Collier County cannol be developed. This causes more intensive growth on property that can be. An additional interchange lo service Golden Gate at lnterstate 75 is being considered. 29 COLLiER COUNTY CARLSON,| Collier Enterprises is in the planning stages of a development to be known as Rural Lands West ofi of Oil Well Road. Rural Lands West contains a total of 16,000 acres of which 4,000 would be developed and 12,000 would be utilized for habitat and flow ways. lt is expected this community would add $2,600,000 to the tax base and another 10,000 residents. The community as planned would have parks, golf, commercial and retail shopping, entertainment, churches and schools. This would be a self sufficient community not significantly different from Ave Maria. The projected sell out of the community is over a 20 year period. Collier Enterprises is anticipating construction to begin in 2019. Thus, the subject market area is noted as being in the growth stage of development. Today, generally lands to the east over to State Road 29 are undeveloped. This could be changing as noted above in the next few years. These lands include some portions of Golden Gate. The Florida Panther Nature Wildlife Refuge is here as well. South of lnterstate 75 and east of State Road 29 is Picayune Strand State Forest and Fakahatchee Strand Preserve. There will be no further development in these locations. North of the subjeci up to the north neighborhood boundary lmmokalee Road is the community Golden Gate Estates. Golden Gate Estates is a platted unincorporated part of Collier County. The growth pattern for Collier County over the last two decades has been on a whole from west to east. Many years ago Golden Gate Estates was refened to as swamp. Loggers initially came and removed the cypress. Lands were cleared and used for pasture. Golden Gate Estates was at one time known and the World's largest subdivision. This community was projected to have 400,000 residents. Golden Gate Estates consumes 112,000 acres and has 880 miles of road and 183 miles of canals. The original developer was Gulf American Land Corporation. The majority of lots found within the Golden Gate Estates community are 1.25 to 2.5 acres. ln 1974 the county zoned properties to require 2.25 acres to build a house. There are properties which are grandfathered in. Collier County took over maintenance of the roads and Golden Gate Estates from the developer who filed bankruptcy in 1978. ln '1985 Golden Gate Estates was still significantly undeveloped and the Collier County Conservation Recreation Lands Program targeted some 42,000 acres in the southern part of the county for acquisition. This process is still underway. Golden Gate Estates will continue to grow as Collier County grows west to east the infrastructure will continually be improved by Collier County Government. 30 COLLiER COUNTY BOARD OF COUNTY COMM:SS10NERS CARLSON, NORRIS AND ASSOCiATES, lNC Golden Gate City is located within the market area. Golden Gale City is an incorporated city located no(hwest of the subject property and has more intensive development with all infrastructure in place as well as having a supporting commercial conidor along Golden Gate Boulevard. Most all goods and services exist here. Closest developments include; Forest Glen Golf and Country Club 3.7 miles southwest, Cedar Hammock 5 miles southwest, Naples Lake 6 miles southwest, Old Florida 5.5 miles north, Lamorada 7 miles north and Vanderbift Country Club 6.5 miles northwest. Other new developments include; Hacienda Lakes, San Marino and The Golf Club of the Everglades. The closest access onto lnterstate 75 is at the intersection of Collier Boulevard and lnterstate 75 which is 3.5 miles west of the subject. At this intersection can be found a Cracker Banel, a LaQuinta lnn, and a Fairfield lnn and a Spring Hills Suites. The White Lake lndustrial Park subdivision is also in the northeast quadrant of the interchange. White Lake lndustrial Park is a thriving industrial park cunently home to Parker Hannefin Corporation previously known as Shaw- Aero. Additionally Roush Enterprises is located in the White Lake lndustrial Park. Two miles west along White Lake Boulevard is a Collier County landfill as well as the location of Yahl Mulching and Recycling. The Collier County landfill referenced is located at 3730 White Lake Boulevard. This landfill is 310.97 acres and is a Class One solid waste management facility. lt accepts solid waste six days a week. The landflll began operation at this location in December '1976. The landfill is operated by Waste Management, Inc. on behalf of Collier County. Two miles to the north of the subject is the Prefened Materials Aggregate Mind. lt along with the Golden Gate Quarry and the Naples Asphalt Plant are part of a PUD called Warren Brothers. The western portion of the market area is the location of the most intensive heavy developed portions of Collier County where all goods and services and heavy residential development are located. These locations are west of Collier Boulevard and lnterstate 75 and are a distance 4 to 10 miles from the subject. ln this location can be found Fifth Avenue (high end retail), The Naples Zoo, most govemment offices and hospitals as well as Tin City. Police and fire protection are provided to the market area and specifically the subject location by Greater Naples Fire and rescue. Station 70 is located in the center of Golden Gate City some 4.5 miles northwest. Station 71 is located 5 miles to the north. The SherifPs Office District 2 substation is also located within the community of Golden Gate City. 31 COLLiER COUNTY BOARD OF COUNTY COMMiSS10NERSCARLSON,NORRIS AND ASSOCIATES, :NC Legal Description:The sublect property is lega∥y described as fo∥ows: … rr B‐―RancL Rm劇 聰hds l.渤 血鍮赫鳩TonbhiP視 b呼 綺鄭走 0032856000294927E120FSE14NW140FSE14 E120FSW 1/40FSE14NW 1/4 0FSW1/4 0FSE14N12 0FSE1/40FSW lμ ぃ C1/40FSW 14E120FNW ir4 0FSW 14,SW1/4SE 1/4SW V電 W12 0F SElr4 0FSE1/40F SW 1/4,SE lr4 0F SW1/40FSW 14 E鯰 OFSW 1/40FSW 1/4 0FSE吼 00334320006 29 49 27 SE1/4 0F SE1/4 0F NE1/4 003m480002 294927E12 0F SWIr4 0F SWIr4 0FhtE1/4 000640003 294927E】たOF SE1/4 0F SE1/40FNW】/4■W12 0FSW1/40FSW140F NE174 000240004 294927W12 0F SWIr4 0F SW1/4 0F SE1/45ヽ 、OR 1342 PC l129 0030840008 294927E1/2 0F SE1/4 0F SElr4 0F SW1/45 AC OR 1342PG 969‐970 2 価じN硼 躙n2798-Of鰤 〔RЪ … 49飩 Rooge 27EIm EXfiIBIT B - HHII Rrncb ScDdiEg IrDds l. Thc Souhca 3?5 acres of Sccion 32' Tovaship 49 Sou\ Range 27 Eosr, lcssod tc<ocpt ay lands rlr't rrtre prEvioosly okco for higlmray rigbt of uzy. Assessed Value and Taxes: According to the Collier County Tax Collectois records the subject property is identified by the following Folio Numbers also showing ownership names. On this chart we show the ownership name, Folio number, acreage, taxable value, assessed value and the tax liability. The subject property is calculated by Collier County to contain 922.88 acres. The taxable value of all eight parcels combined is $178,932. The assessed value of all eight parcels combined is $2,489,700. For the tax year 2016 the subject property paid $2,714.68 in taxes. 32 COUNTY COMMiSSiONERS ASSOC:ATES, lNC OurFFSrrp_4cRIACF‐■SSESSMEIVお Acreaα e raxα b′e1/●′″eAssessed Va′υe raχ b。ゎ′″tvParcel″Fo″0″ 34196CKX13 342回 D3 328560002 331320006 328640003 330480002 33084回 32924回12345678OwneEhip Hussey, Jr. Francis & Mary P. Hussey,lr. Francis & Mary P. Hussey,lr. Francis & Mary P. Hussey, Jr. Francis & Mary P. Hussey, Jr. Francis & Mary P. Hussey, Jr. Francis & Mary P. Hussey, Sean lMeade Trust Winchester Land LLC Totals 31394 31394 2611 10 10555 92288 S53461∞ SSz021∞ S4z31X CXl Sl′55C IXl Sl′55C OЭ S7750D S16勁 ∞ S77500 S178,932 5784,8s0.0o 5784,sso.oo S78o,ooo.oo S4o,ooo.oo S4o,ooo.oo S20,ooo.oo s20 000.00 s20,000.00 s2,489,700 S61496 S65591 S54410 S1784 S65591 S891 S20814 S891 S2,71468 Only the Collier County Property Appraisels office can assess properties for taxation purposes. The actual tax liability is calculated utilizing the millage rate as set by the Collier County Commission then multiplying this by the assessed value of the property. Should the millage rate or the assessed value change for the site the tax liability would be different from that as reported herein. Ownership: The owner of the subjecl property is as follows. The ownership of the subject property is also listed above. Three different owners are combined for the subject property. These owners include Francis & Mary P Hussey Jr., The Sean Meade Hussey Trust as well as the Winchester Land, LLC. 33 COLLiER COuNTYCARLSON, |COUNTY COMMISSiONERSD ASSOC:ATES,INC Section 3 - Site Description SITE PLAN Site Analysis: Site analysis is described in The Dictionarv of Real Estate Aopraisal. Sixth Edition as: "The identification and analysis of the characteristics that create, enhance, or detract from the utility and marketability of a site." 彩 多 骰 ″"移カイ称 34 COLLIER COUNTY BOARD OF CARLSON, NORRIS AND Land Description: Land description is described in The Dictionarv of Real Estate Appraisal. Sixth Edition as: "A compilation of detailed factual data, ofren including a legal desciption, othertitle and record data, and information on the pertinent physical characteistics of a parcel of land or a site." This description is based upon conditions present as of June '15, 2017. Those present at time of the inspection included J. Lee Norris, Gerald Hendry, Roosevelt Leonard (county rep) and Billie Rollins (property owner rep). The total gross acreage equals 962 acres. This includes sending unit acres of 384 and receiving unit acres of 578. There are no neutral acres on this property. Transferable Density Rights (TDR) or Credits that are attributable to this property include a base density of 1 15 units on the receiving lands and a maximum density of 578 units on the receiving land. The sending lands account for a total of 230.4 TDR's. These include a base TDR number of 76.8, early entry TDR's of 76.8 and RMP TDR's of 76.8. ln order for the subject site to achieve a maximum density of one unit per acre on the receiving lands for 578 units, this calculation means that 233 units would have to be acquired from the marketplace. All of these calculations are assume the Rural Village option is not undertaken by the subject owner. Specifically, we are not considering the mining aspects of the property. Note, if the Rural Village option were undertaken after mining this would utilize a significant amount of ground area needed for development and therefore the Rural Village option is not sustainable for the subject property along with mining. Documentation between the property owner and our client Collier County indicates that the subject property is not identified as having any Army Corps of Engineer jurisdictionalwetlands. 35 COLLIER COUNTY BOARD OF COUNTY COMMISS10NERSCARLSON, NORRIS AND ASSOCIATES, INC. The shape of the property is irregular. Generally, the property has a width of one mile. This is the distance along the southerly boundary. The distance from south to north along the easterly boundary is 8,580 feet or approximately 1.625 miles. I have performed a web-soil survey of the site to generally obtain information about the soils that are present. I have found six different soils present on the site. The soil types present include Holopaw fine sand, Malabar fine sand, Oldsmar fine sand, Riviera fine sand, Fort Drum and Malabar fine sand and Boca fine sand. Note, there are no depressional or muck soils present at the subject site. Historically speaking, the wettest observable areas on sites in the Southwest Florida area have depressional or muck soils. The wettest portions of the site have Oldsmar fine sand and Riviera fine sand, both of which are limestone sub strata. Sdl llrp ..Golhr CMtt #o. Ffdi.# fl6lrl A 紺爾L “""“ 1憮 嶽 轟 薔岬 "口 じ,イ,離二鶏藪 せ::ビ :l∫:薔 冨T鶴 塾 36 OF COUNTY COMMISS10NERSAND ASSOCIATES, INC. Map Unit Legend The Florida Land Use Coverage Code System (FLUCCS) identifies 11 different habitats on this site. A FLUCCS map is included for the reader's consideration. By far the greatest percentage of the property is classified as having cabbage palm and cypress dominated habitat. There are additionally pine flatwoods and palmetto prairies. Some areas of Brazillian Peppers and Melaleuca infestation are present but none are significant. ||“lp l"1111ⅢII ACresilⅢ■011 Holopaw Iine sand, llmestone subslralum 92.5 9.8% Malabar fine sand, 0 to 2 percent slopes 39.1 4.2% 10 Oldsmar line sand, limestone subslratum 186.7 198% 13 Riviera fine sand, limeslone substratum 468.2 49.7% 20 Ft. Drum and Malabar, high, fine sands 1.6 0.2% 21 Boca fine sand, 0 to 2 percent slopes 154.4 16.4% Totals for Area of lnterest 942.5 100.0% 37 11■VII111111y"|1111■| COLLIER COUNTY BOARD OF COUNTY COMMISS10NERS CARLSON, NORRIS AND ASSOCIATES, INC. 耳 蔦 守 「"単 一++・ 打 Ⅲ ― ビ‐ _++++十 十 十 1-‐|・ l・ ・…・ キ キ キ ++キ キ キ +十 +キ ++キ +キ+ 十 ■ 十 } :+t/ ■+++ 十 ■ オ キ ・| = + 置]E僣]t8 6 asotlot d ll蜀 :熾 ::[:: Utilities and services are considered next. Currently electricity is available to the site along with telephone service. There is no public water or sewer service to the specific subject property. ti■i+11ヽ |ル :tこ:i 38 COLLiER COUNTY BOARD OF COUNTY COMMISS10NERS CARLSON,NORRIS AND ASSOCiATES, INC According to the Collier County Government serving the subjec{ property would require amending the Collier County Water-Sewer District boundary (CCWSD). The closest facilities are 1.3 miles to the west of the southwest comer. These serviees include a '10 inch water main and 2 inch force main which currently serves the Charlotte County landfill. Two inch force main discharges to a four inch force main a quarter mile to the west. Collier County reports that they anticipate a large subdivision to the north and bordering the subject on its easterly and northeasterly side in the near future. This new development does consist of both RFMUO neutral and receiving lands. County water and waste water service will eventually be extended to this property when it is developed. The County would not report a timeframe and so it is left with a possibility of water and sewer being located somewhere just to the north and east of the subject in the future but we do not know exactly when. Support services generally refer to fire, police and emergency response time. Closest fire, police and emergency services are located within the Community of Golden Gate City 4 to 5 miles northwest of the subject. The answer time is extended but not significant and does not adversely affect the subject. The subject site has no paved road access at this time. \r'Vhite Lake Boulevard extends from Collier Boulevard in an easterly direction. White Lake lndustrial Park leads to the County landfill. White Lake Boulevard tums into Blackbum Road which runs along the north side of lnterstate 75 to the southwest corner of the subject property. Blackburn Road cunently is one lane, a dirt service and appears not to be County maintained. Based on the Settlement Agreement, we consider the subject to have legal and physical access along this one lane dirt road. This is approximately 6,700 feet of non-paved surface. The cost of building an acceptable road that could service a residential development is significant. Manmade improvements include such things as intemal streets, curbs, walkways, vertical structures, sidewalks and utility infrastructure. The only manmade improvements include perimeter barbed wire fencing and cleared buggy paths. There are no wells or pumps. The property has never been farmed and has only been used for low density cattle production and recreational purposes. Reportedly, significant portions have been timbered. 39 OF COUNTY COMMISSiONERS AND ASSOCIATES, INC There is no impact on value or utility as it relates to sunounding hazards. The County landfill which is located one mile to the east of the subject is somewhat of a nuisance in terms of potential residential development. Mining/Aggregate Analysis It has been the specific purpose of the Collier County Government to have this appraisal represent the value of the real estate only. Reportedly, the value of the underlying aggregate is significant and is beyond the scope of this appraisal assignment. We have in no way considered any impact positive or negative on the value of the real estate associated with the oil, gas and mineral rights that may run with the title. Checking other mine excavation projects in Collier County, we note a total of 10 active mines at the present time. These active mines are known as 1) Seacon Pit, 2) Willow Run Pit, 3) Sunny Winchester Lake, 4) State Road 86, 5) Earth Mine, 6) Logan Lakes ll, 7) Golden Gate Quany, 8) East Naples Mine Phase ll, 9) lmmokalee Sand Mine and 10) South Grove Lake. Also, currently there are two commercial mine projects in review approval process. One is known as Hogan lsland Quarry, the other is known as lmmokalee Sand Mine. Settlement Agreement Analysis A settlement occuned in the 20h Judicial Circuit of Collier County, Florida in February 2013 between the owners of the subject property and the Collier County Government. The property owner filed a claim under the Bert Hanis Act challenging the Rural Fringe Amendment which signiflcantly impacted the future development rights of this property. The settlement resulted in an exchange of development rights between two large parcels in the Rural Fringe Mixed Use Development area (RMFUD). lt changed 578 acres of the Hussey (subject) property previously determined to be sending lands to receiving lands. The second component of the agreement changed 578 acres of the land known as the "846 lands" from receiving lands to sending lands. Thus the Hussey property having a total of 1 ,1 '10 acres would have 578 acres receiving lands and 523 acres sending lands. Early entry TDR's credits were extended as well. The Hussey property deeded a 180 foot right of way located within '100 feet of the southerly boundary of the site along the north side of the lnterstate 75 right of way. This 180 foot right of way contained 22.318 acres. The owner was compensated at a rate of $2,500 per acre for the right of way. The credits 40 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON, NORRIS AND ASSOCIATES, INC associated with this right of way area run with the Hussey land. ln other words the Hussey land includes the 22.18 actes (ROW in density calculations. The subject property must follow preservation and natural vegetation retention standards with the CCME. No mineral rights were transfened from the 846 lands to the Hussey lands. The "846 lands" consisted.of 2,576 acres which now includes 578 acres sending and 1,998 receiving. Transferrable Density Rights (TDR) Discussion The concept of density transfer from one parcel to another stems from Government's need to protect ultimately the health and safety of its inhabitants. ln Southwest Florida some lands are suitable for development and others such as swamps and heavy growth hammocks holding the key to water retention for aquifers and maintaining wildlife habitat are not. Transfening Density creates a system where the property owner can preserve the sensitive land AND receive compensation for their efforts. Underlying these Transfer Density Rights is the concept that it is unconstitutional to take away development rights without paying for them thus the Bert Hanis Act came to be and was the legal basis forthe Hussey lawsuit and settlement. ln a TDR the right is transferred and any units that may have been developed on a particular property can be moved and developed to another better suited location. The TDR process is being attempted in many parts of the muntry and surely the country as a whole is learning how this system can best benefit the residents of impacted communities. Conceptually the TDR process can be described with the Bundle of Rights theory. Bundle of Rights Theory is defined in The Dictionarv of Real Estate Appraisal, Sixth Edition as "The concept that compares propefty ownership to a bundle of sticks with each stick representing a distinct and separate right of the property owner, e.9., the right to use real estate, to seil it, to lease it, to give it away, or to choose to exercise all or none of these rights." ln this comparison the Transfer of Density or Development Rights eliminates the open use of the property, in other words the right to develop. Transfer Development Rights can be compared to a Govemment agency acquiring a conservation easement on a particular site. ln each case the Govemment purchases the owneis rights of future development and in tum the property owner must maintain the property at a very high standard. The lands under consideration in this 41 COUNTY COMMiSS10NERS ASSOCIATES,INC appraisal assignment are designated as sending lands andior receiving lands. Typically, sending lands are more environmentally sensitive and receiving lands are more suited for development. Theoretically TDR values can fluctuate depending upon how close a receiving site is to goods and services amenities and existing development patterns (typical real estate supply/demand characteristics). The Transfer of Density Rights in high demand locations will/should generate higher values than lands in remote undesirable areas. The Collier County Transfer of Development Rights Program located within the Rural Fringe Mixed Use District was adopted in February 2004. TDR bonus amendments were adopted in September 2004. The TDR program establishes a method for conservation and protection of some of the most environmentally sensitive land in the county. This process theoretically allows property owners of these lands to recover lost value and development potential through an economic process allowing them to transfer their density units or rights to lands that are more appropriate for development. The TDR program has at its core the Collier County Growth Management Plan and their focus on future grovvth and development, especially relating to sewer, water and transportation needs. Collier County is the registrar for buyers and sellers of TDR credits. Collier County maintains an activity log which tracks all TDR's in process. The below chart shows Transfers of TDR'S to date. TRANSFER OF DEVELOPMENT RIGHTS TO DATE - FYZOO3-ZOA7 Processed _ Pending nna!PrOcess Totals Number of Acres enrcllled in TOR Program 6553 85 ― Number of Base TOR Credits 1331 10 Number of Early Entry Bonus TDR Credits ■33110 Number of R&M Bonus TDR Cred ts 9o6 32 Number of Conveyance Bonus Cred ts 395 42 T●●l Credits in Program(lncludes Pending“nal Process〕: 396394 166794 33538 33538 3279 1′66648 1.66648 90632 39642 … l C10 67■76 TRANSFER OF DEVELOPMENT RIGHTS ‐POTENTIAL― unprOcessed Potential Number of Acres(unprOcessed〕■173533 GRANO TOTAL Potentia:Acres … Potential Nu m ber of Base Credhs Potential Number ofEE Bonus Credits Potential Number of R&M Credits (includes Exist;ng potential & potential RM) ろ42400 242400 2,81300 Potential Numler of ConM,yance Cr奎 J“s iinclud皇 奎ExistinЯ Polent●1&Eotentiai cQ●vevancel 室.塁 12.00POTENT:AL CREDITS GRAND TOTAL 42 … COLLIER COUNTY BOARD OF COUNTY COMMiSSiONERS CARLSON, NORRiS AND ASSOCiATES,iNC Collier County has established a minimum based TDR Credit of value $25,000. The current price for bonus TDR's relating to Early Entry, Restoration and Maintenance and Conveyance are all negotiable through the buyer and seller and truly market derived while the establishment of a base credit value of $25,OOO is not market support. Because most all transactions include both base AND bonus credits the ultimate price paid generates a market price. They can be compared to government impact fees. Developers eventually factor in impact fees in what they pay for raw land and what they can sell a finished product or home for. The same goes for TDR'S, buyers factor the base credit cost of $25,000 into the negotiations of blended TDR purchases including base and bonus credits As to the location in Collier County where TDR Credits can be used, they can be used within the Rural Fringe Mixed Use District, receiving lands. TDR Credits can also be used in non-Rural Fringe Mixed Use Districts, urban residential fringe. The inherent density associated with receiving lands is one dwelling unit per five acres. The maximum density through the TDR process is one dwelling unit per acre with the exception that it is higher in Rural Village locations. The minimum project size for receiving lands is 40 acres. As to the Urban Residential Fringe, one can only use TDR's from sending lands located within one mile of the urban boundary. The maximum density increase in the Urban Residential Fringe area is one dwelling unit per acre. The total allowable density is 2.5 dwelling units per acre. As to sending land credits in the Collier County TDR process, there are four types of TDR Credits. The credits include the base and three bonus credit densities. The base TDR Credit is one TDR per five acres. lf legal nonconforming a lot less than five acres which existed prior to June 22, 1999, then the density is one TDR Credit. An existing dwelling on a property or plans for future dwelling are not a problem subtract one TDR. "Bonus Density One" is known as Early Entry. Early Entry bonus density is one additional credit per base TDR Credit severed. Early Entry deadlines have been extended to September 2019. The formula for Early Entry bonus density calculation is early entry bonus credits equals the number of base TDR Credits, a simple one to one computation. "Bonus Density Two" is known as Restoration and Maintenance Plan or RMP. RMP Credits are based upon one credit per TDR Credit severed. Restoration and Maintenance TDR's require an 43 OF COUNTY COMMISS10NERS AND ASSOC:ATES,INC RMP plan that has been accepted by the County. The formula for Restoration and Maintenance bonus two credits is the number of base TDR Credits times percent sign subject to approved RMP. RMP Credits = Number of base TDR Credits X % property subject to approved RMP. Conveyance is Bonus Density Three. Conveyance TDR'S are one credit per TDR Credit severed. lf the land is conveyed in fee simple to a federal state or local agency as a gift. A conveyance credit is possible. Conveyance Credits require a restoration and management plan (RMP) that has been accepted by Collier County. The formula for Conveyance Credit is: Conveyance Credits = Number of base TDR's X % property subject to approved RMP and conveyed. Lastly, entities which are authorized to accept conveyance of sending lands properties are as follows: The Collier Soil and Water Conservation District, Conservation Collier, Corkscrew Sanctuary, Florida Department of Environmental Protection and South Florida Water Management District. We are told these entities are not in the market of purchasing sending conveyance credits at this time. Zoning/Land Use By virtue of the 2013 settlement agreement between Collier County and the subject property land owner the subject property which is subdivided and contains 578 acres of receiving lands and 348 acres of sending lands. The zoning for the subject property includes A-RFMUO sending lands - NBMO and A-RFMUO receiving lands - NBMO. These are descriptive terms for Rural Fringe Mixed Use Overlay sending lands and North Belle Meade Overlay as well as Rural Fringe Mixed Use Overlay receiving lands. The land use for the subject property is identified as RFMUD within the North Belle Meade Overlay and RFMU District receiving lands within the North Belle Meade Overlay. A complete description of the A classffication, the RFMU receiving lands classification, the RFMU sending lands classification as well as the North Belle Meade Overlay are located within the addenda of this report. 44 Below you will find some descriptive maps would provide for a clearer understanding of the location and sunounding zonings and land use as they relate to the subject property. Su bje NORTH BELLE MEADE 詳 ・| I J而 鳥AG[J[NT ttLAl l耐 [NDMENTCOLi…IER COUNTY GROWTH Mノ FUTURE LAND USE ELEMENT l,OCATED IN SECT10N 291 31 A140 32, TOllFNSHIP 49, RANGE 2′ RMFU/NBMO 45 2〕 ` ・・ COLLIER COUNTYCARLSON, AN DESICNA￢ON OF COUNTY COMMISS10NERSAND ASSOCIATES,INC. □。輸出む・04mヽ 銀田 0餞 蜘・“喩S'3膠 “ 圏 uRB“COAS,札 朦 ∝StmSR日 圏 “ e納 由曲・ 鳳mc鰤 ぃ歓日 雛 鷲 悧 冨 闇 社stl.●ISm・ ● 露譜組¶躙υttt島 螂T ■錦胡路職 鷲7 ■と:語 8日 1憲 婚熟鮮 籠軋ゆ ■醜 轟臨=饉=AR●|ハ D πmaOCv,ハ 鍬 RIBttCT ■四饉V疇 動ぼ…∞哺●0囁 “ XEO uSE StlB●SRICt ■蹴 琴粒′鏃謂 ■瑠潔臨凛鶴選試stasnにT ・ 用躙utrrv ■翻観騰酔 国 hOuStlハ ∝SIRICT 闇 島 鸞 翻 P麻 "―m. ■窯器躍 ul。。tsnCI ハ:無 .L……"………―‐…… conca omRICt ■屁盤ぽ議口 su。0師 疇 自 N・ 期回=ハ C￢r Com steas鼈7 ■闘翻艶笛臨 8-PAR“ … ▼ ―R●4 ^"ゆ ▼EC“●COCγ O^Rk …■協朧臓」暇ビ酬踏器旺 □睡 馳stn・ IsET COl―た"・ SC Stm35mCT ■贈鋼L電 留鍋 蠍“いL・ LVD ・ 雛 価臨T ■議騒凝電品 `選 腎T CR°S°AOS ■●A‐●AD●COrRClt 90005田 -8:§鶏柵/RUR札 □ACRntTuR‐ORAL VpcD υ=OISTR鰤 や0●いに―‐●AL●||●15mt ■翻轟騨腺酔 ―鍛掘凛商 ■にC00●mS ■…C―S国印R mos 絨札―D・ OIT“臥●STRICr R●●ハL:ヽ OuSTR●LD:SRCr ESTATES DESiCNA■ON DESiCNAI OVERLAYS ANDSPECIAL FEATURES 圏 nC…AIO AREAS ‐‐‐∞AS了 社H●|"俎 “ O ARE^ 一 ^REA OF CmOAL… |●NCCn. /膊 “T囃 斑A…～ Eヨ 瞭 1翌 Fれ 中 A)0颯 費LAY ■露馴翻躍ザar ‐・ 翌鶴織讐眠Aは ぃγ %警 継譜掘闘臥嗅v ‐‐IIOn CtLC嗜 ol製 瞑LAY +ntRm・ t∝ 〕OLDEN EAT D「:1「 NORttHS"々ル買t prOpe守/僻 ‐ 46 COLLlER COUNTY BOARD OF COUNTY COMMISS10NERS CARLSON, NORRIS AND ASSOClATES, lNC TDR PROGRAM ACT附 JUNE 2017 ●F… ― …… “ ″―彗 ― ― ―― ・ ― “ eA 自 ………… 颯 ■ ― に -1-―・・ ―￢η l ■卿 口 Lm劇 曖 ‐XE●嗚 r― 目串| [― “```4`●●●````~:J`「 uoao ! ra rtnro @lrsanc l i ` . ``♂`````..`●・●●●●``● ■:`1`1`1■ギ・:4■141rr`:`141,■:1' I I.er r...- elヽ```=`.・・■t4 111::::|:::::::::: ……■‐・´:i ::::I 47 LEE COuNTY COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS CARLSON,NORRIS AND ASSOC:ATES, INC. Rural Fringe Mixed Use DistHct LoOond ―――Rural Fnnge ttxed use Distnct ‐73″2 ac眺 ‐鮮 … ing ‐22"O ac醸 圏 昨 檄 頭 ral …9,667 ac購 Eコ RFnd" ～21,123 acres PFiVate Ownership ～20,407 acntt Publた Ownership gnEa * alB I a.;dE r CDC:I ff DrlrqlCd3DmE?rurlthlctl.JDot GCFE to/oa 48 口■■■■■■======コ Ml●● 0 2 4 ■ OF AND COMMiSS10NERS IATES, INC. Su bject Property Photog raphs View: Looking north along east line, recently burned pine flatwoods Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA View: Looking north along east line, recently burned pine flatwoods Photograph date: June 16, 2017 Taken by: J. Lee Norris, MAl, SRA 49 COLLi COUNTY COMMISS10NERSASSOCIATES, INC. Subiect Propefi Photographs View: Typical easterly view along fence line Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA View: Looking north along east line the subject is on the left (sending lands) Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA 50 LJ COLLiER COUNTY BOARD OF CARLSON,NORRIS AND ISSIONERS INC. Subject Property Photog raphs View: Typical interior view showing pine flatwoods some forested lands (receiving lands) Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA View: Typical interior view Photograph date: June 16, 2017 Taken by: J. Lee Norris, MAl, SRA 51 COLLIER COUNTY BOARD OF COUNTY COMMISS10NERSCARLSON, NORRIS AND ASSOCIATES, INC. Su bject Property Photographs View: Typical interior view recently burned this area has been timbered (receiving lands) Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA View: Typical interior view showlng recently dug firebreak Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA 52 ´ || Subiect Property Photographs ERS View: Typical interior view Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA View: Typical interior view Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA 53 聯 濾l二 _.抑 COLLIER COUNTY BOARD OF COUNTY COMMISSiONERSCARLSON, NORRIS AND ASSOCIATES, INC. Subject Property Photographs View: Looking south from north line recently burned and timbered (receiving lands) Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA View: Looking south along east line recent heavy rain (receiving lands) Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA 54 Su bject Property Photog raphs ERS View: Looking south along east line recently burned (sending lands) Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA View: Typical interior view looking west, flooded by recent excessive ran and burned by recent fire (sending lands) Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA 55 COMMISSIONERSIATES, INC. Subject Property Photographs View: Typical schrub area view, high water due to recent heavy rain Photograph date: June 16, 2017 Taken by: J. Lee Norris, MAl, SRA View: Looking south in center portion of north section (receiving lands) Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA 56 COLLIER COUNTY BOARD OF CARLSON,NORRIS AND NERS Subiect Propefi Photographs View: East view looking north along line, high water due to recent rainfall Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA View: Typical interior view looking east, recently burned, timber removed Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA 57 磯コ 山 = d 橿 COLLIER COUNTY CARLSON,| OF C AND Subiect Property Photographs COMMISS10NERS IATES, INC. View: Typical interior view looking east, recently burned area appears to be timbered Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA View: Typical interior view looking east, recently burned area appears to be timbered Photograph date: June 16, 2017 Taken by: J. Lee Norris, MAl, SRA |: 58 ‐参 由盪聾」鳳=一 一量 “ ′' ″1 COLLIER COUNTYCARLSON,|OF COUNTY COMMiSS10NERS AND ASSOCIATES, INC. Subject Propefi Photographs View: Typical interior view, recently burned, a mix of pines and cypress Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA View: Looking south along west property (sending lands) Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA 59 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON, NORRIS AND ASSOCIATES, INC. Subject Property Photographs View: Looking along west property line Photograph date: June 16,2017 Taken by: J. Lee Norris, MAl, SRA View: County right of way along south property Photograph date: June 16, 2017 Taken by: J. Lee Norris, MAl, SRA 60 _:'■)|| 爾 躊石■l COLLIER COUNTY BOARD OF COUNTY COMM:SSiONERS CARLSON,NORRIS AND ASSOCIATES, lNC SⅨ受lon 4-Highest and Best Use Anaws:s The principal of highest and best use is defined: "That reasonably probable use and legal use of vacant land or an improved property that is physically posslb/e, appropiately supported, financially feasible, and that results in the highest value." The four criteia the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum profftability. . Permissible Use (Legal) - what uses are permitted by zoning and deed restrictions on the site in question? o Posslb/e Use- to what uses is it physically possible to put the site in guestion? . Feasible Us*, which possible and Wmissible uses will produce any net retum to the owner of the site? . Highest and best Use- among the feasrb/e uses, which use will produce the highest net retum or the highest present wotth?" The cornerstone of every appraisal is highest and best use analysis. lt is THE basis to wit the actual valuation is based. ln performing the highest and best use analysis the appraiser must base the highest and best use conclusion on the property characteristics that exist as of the effective date of appraisal or identify any hypothetical conditions and/or extraordinary assumptions that are being employed. The office of Real Property Management of Collier County has requested an estimate of market value based on the "as is" fee simple ownership as of the effective date of appraisal. The effeclive date of appraisal is June 16, 2017. Please be advised this highest and best use does not give any consideration to oil, gas, mineral rights or any value associated with the aggregate on the subject site. Physically Possible Uses: First, the appraiser will consider the physically possible aspects of the subject property. The subject property contains 962 acres. The total acreage includes 578 acres of receiving lands. These acres are to the north end of the site. ln addition, the subject property contains 384 acres of sending lands. This is the southerly portion of the subject property. The site 61 OFAND has been partially cleared. Reportedly, there are no Army Corps of Engineer designated wetlands on the site. We noted during the inspection significant standing water. There are wet portions of the site. Access to the property is by a one lane dirt road which extends from White Lake Boulevard. This access is privately maintained. The property rs bordered by other wooded lands and lnterstate 75 to the south. Electricity and telephone utilities are available. Public water and sewer are a significant distance from the site. The uses which are physically possible on the property include a wide range of uses including residential, commercial, industrial, agriculture, recreational and mining, which is not considered in this analysis. Legally Permissible: Each section of highest and best use analysis will either strengthen or weaken the uses defined in the previous sections, in this case the physically possible uses. That should be the case here. Agriculture use of the property will remain a legal use. The subject property is substantial enough in size to be economically viable. The property has not been cleared for farming purposes. lt is partially cleared based on timbering that was done and is used for low density caftle production. The cunent zoning and land allowes for residential and agricultural uses. Commercial and lndustrial are not considered as legally permissible under legal and zoning. There are no legal aspects of the property which would eliminate recreational uses. Therefore, those uses which remain legally permissible do include residential and agriculture as well as recreational. Economically and Financially Feasible: Agriculture and recreational uses while physically possible and legally permissible do not meet the test of economic and financially feasible. Land prices in this part of Collier County have exceeded what are typically paid for agriculture properties in other areas of Southwest Florida. Residential development continues to be the economic driver for jobs, population increases and the need for additional commercial industrial properties. We do believe the subject property has current residential development potential. However, the access and utilities are physical characteristics that will have to be overcome and ultimately affect the value of the raw land as it exists today. Based upon the settlement agreement the subject property can be developed with 578 units, 'l 15 of these units coming from the receiving lands, 230 additional units coming from the southern portion of the subject or the sending lands requiring an additional 233 units to be purchased in the marketplace bringing the overall density to 578 units on the 578 acres of receiving lands. 62 COLLIER COUNTY BOARD OF COUNTY COMMlSSiONERSCARLSON, NORRiS AND ASSOCiATES, iNC Higher density could be established on this property through the Rural Village option. Howeve the Rural Village option would utilize a significant amount of the property for mining purposes and would create large lakes. lt would therefore eliminate the potential of reaching the maximum density allowed under the Rural Village concept. We believe from an economic and financial perspective, that use which represents the highest and best use of the property is potentially for the property to be mined which is not valued herein and for the property to be developed with a 578 acre development on the receiving lands with the sending lands ultimately being used for some type of passive recreational or agricultural use. Maximally Productive Use: The maximally productive use for the subject property is for the development as previously stated with a residential development making maximum utilization of receiving lands agriculture or recreational use of the sending lands ultimately and the residential development being developed around a mining project that occurs first. 63 COLL:ER COuNTYCARLSON, |COUNTY COMMISS10NERSD ASSOCIATES, INC Section 5 -Valuation of the Subiect VALUE ESTIMATE BYTHE COSTAPPROACH Cost Approach is defined as: "A set of procedures through which a value indication is deived for the fee simple interest in a propet| by estimating the cunent cost to construct a reproduction of (or replacement fo) the existing structure, including an entrepreneuial incentive, deducting depreciation from the total cost, and adding the estimated land value. Adjustments may then be made to the indicated fee simple value of the subject propetty to reflect the value of the propefty intere st b e i ng app rai sed." There are no improvements of significance on the subject property. The Cost Approach does not apply. VALUE ESTIMATE BY THE INCOME APPROAGH The lncome Approach is defined as "A set of procedures through which an appraiser deives a value indication for an income-producing property by converting its anticipated benefls (cash flows and reversion) into propefiy value. This conversion can be accomplished in two ways. One yeals income expectancy can be capitalized at a market4eived capitalization rate or at a capitalization rate that reflects a specified income paftem, return on investment, and change in the value of the investment. Altematively, the annual cash flows for the holding peiod and the reversion can be dixounted at a specified yield rate" . The lncome Approach is widely applied in appraising income-producing properties. Anticipated future income and/or reversions are discounted to a present worth figure through the capitalization process. Since vacant land is typically not purchased for its ability to generate income, the lncome Approach does not apply. VALUE ESTIMATE BYTHE SALES COMPARISON APPROACH Sales Comparison Approach is defined as: "A set of procedures in which a value indication is derived by compaing the property being appraised to similar propefties that have been sold recently, then applying appropriate units of compaison and making adjustments to the sale prices of the comparables based on the elements of comparison. Ihe sa/es compaison approach may 64 COLLIER COUNTY BOARD OF COU NTY COMMISSIONERS CARLSON, NORRIS AND ASSOCIATES, INC. be used to value improved properties, vacant land, or land being ansidered as though vacant; it is the most common and prefened method of land valuation when an adequate supply of comparable sales are available." The Sales Comparison Approach involves the comparison of properties similar to the subjec{, analyzing the differences between the sales and the subject property and conelating the results of the comparison of the sales to the subject into a value indication. This Sales Comparison Approach involves somewhat unique characteristics. As previously noted the subject property is 962 gross acres. The 962 acres is comprised of578 acres that have been designated by Collier County as receiving lands through the settlement agreement. The southerly balance of the property containing 384 acres has been designated as sending lands. The process employed in valuing the subject property based on TDR units is to locate sales of TDR transactions and compare those sales to the receiving and TDR sending lands of the subject. We have documented a highest and best use for the entire subject propefi being 578 units all to be developed on the receiving lands. The receiving lands themselves generate a total of 115 credits or TDR's. This leaves 463 credits to be obtained elsewhere in order to establish the maximum density of one unit per acre. 230 of these needed credits can be obtained from transfening the maximum TDR units from the sending lands to the receiving lands. These credits from the receiving lands can be generated by base TDR credits of 76.8, early entry credits of 76.8 and RMP TDR credits of 76.8. This mathematical process leaves 230 units or TDR credits to be obtained from other locations. The cost or value associated with these 230 additional units is an expense or cost against the retail value of the property at 578 units. The process employed utilizes TDR sales and a comparison of those TDR sales to the subject. This will result in a value of a TDR credit. The TDR value is established by a combination of a regulated cost by Collier County for base credits of $25,000. All other bonus credits are negotiable. The fact that the overall TDR value includes an established price by Collier County and a negotiated price for bonus credits ultimately results in a market price for a TDR credit. We call this, in this analysis a blended value or blended price perTDR. The TDR sales included include mostly blended transactions and one bonus density only transaction. 65 COLLiER COUNTYCARLSON, |COuNTY COMMiSSiONERSASSOClATES, lNC The first component of the overall value by TDR analysis is to estimate the overall value of the property for the 578 units at the blended TDR value. From this will be subtracted the value of TDR credits that need to be acquired to reach the maximum of 578. This value represents the Value of Receiving Lands by TDR analysis. The second step in the TDR analysis is to value the sending lands. The sending lands will have been stripped of their development rights by transfer of the density from the subject sending lands to the subjecl receiving lands. The sending lands after being stripped of development rights still have value. The value of the sending lands is somewhat similar to the value of a remainder parcel which has an established conservation easement on it. Conservation easements typically restrict all future development. Properties with conservation easements do have remaining value and can be used for purposes such as agriculture and recreation. The subject sending lands can also be used for agriculture purposes such as low density cattle grazing. The value of the sending lands after being stripped of development rights is estimated by comparing the sending lands with true agriculture sales in the Collier County marketplace which we have located and are analyzed on a value per acre basis. The value of the sending lands is further supported by utilizing remainder parcel sales where conservation easements exist, developing the percentage the remainder parcel conservation easement sale represents in comparison to the fee value of that same parcel. A chart will be provided for the reader's consideration that will show a number of conservation easement remainder sale transactions. From those sales a percentage for remainder parcel value is established and compared to the gross acre value of the subject property as a fee simple tract. These two techniques lend reliable support to the sending lands value. The summing of the values of the receiving lands by TDR analysis and the value of the sending lands by sales comparison results in a market value estimate for the subject property. ln order to provide added support for the market value of the subject property we have also performed a typical Sales Comparison Analysis. ln this Sales Comparison Analysis the total 962 acres of the subject property is compared to fee simple transactions of large acreage tracts with similar characteristics to the subject. A market value is then established for the subject property on a fee simple basis. 66 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS CARLSON, NORRIS AND ASSOCIATES, INC. The last step in the Sales Comparison Analysis is to conelate the value estimated by the TDR analysis and Sales Comparison analysis into one finalvalue conclusion. The first phase is the TDR analysis. TDR SALES LOCAT:ON MAP s.rDFPr%rty ,-*.r*H*o UI 67 ヽ -4 COLLIER CA OF AND COMMISS10NERS IATES, INC. TDR Transaction#1 Propertv Reference: Property Type: Address: County: Location: Severance PL # BUYER: SELLER: Leoal Data: Sale Date: Sale Price: Sale Price per Base TDR. Sale Price per Bonus TDR: Sale Price per Blended TDR: lnterest Conveyed: Conveyance: Sale Confirmation: Verification: Verifying Appraiser: Comments: Vacant Land Naples,FL Collier East side of Collier Blvd.,south of卜 75 north of Lely Resort 20120000860 Hacienda Lakes,LLC VⅥlton Land Company 2012-2013 $6,284,400 $25,000 $5,000 $15,000 Less than Fee Acquislion(Development面 ghts only) Agreement only no deed recording Collier County Planning Deは MarCla Kendall J.Lee Norris MAI,SRA 丁hlstransactlonincludedatotalof418.96 TDR's including 209.48 base credits and 209.48 bonus CNA credls.CNA lle#17-75 68 COLLIER COUNTY BOARD OF COUNTY COMMISSiONERSCARLSON, NORRIS AND ASSOCIATES, INC. TDR Transaction#2 {;i)l(,r.') (;.!:,' w ヽ ニN 斑 Propertv Reference: Property Type: Address: County: Location. Vacant Land Naples, FL Collier East side of Collier Blvd., south of l-75 north of Lely Resort Severance PL# 20130000603 BUYER: San Marino, LLC SELLER: H & LD Venture, LLC Leqal Data: Sale Date: 2013-2015 Sale Price. $1,061,900 Sale Price per Base TDR. $25,000 Sale Price per Bonus TDR: $5,994 Sale Price per Blended TDR: $14,000 lnterest Conveyed: Less than Fee Acquisition (Development rights only) Conveyance: Agreement only no deed recording Sale Confirmation: Verification: Collier County Planning Dept. Marcia Kendall Verifying Appraiser: J. Lee Norris MAl, SRA Comments.. This transaction included a total of 75.85 TDR's including 31.95 base credits and 43.90 bonus credits. CNAfile # 17-75 69 COLLIER COUNTY BOARD OF COUNTY COMMISS10NERSCARLSON, NORRIS AND ASSOCIATES, INC. TDR Transaction#3 :11 +6olden C載 ● Properfit Reference: Property Type: Vacant Land Address: Naples, FL County. Collier Location: East of Collier Blvd. on Vanderbilt Bch. Rd. Extension south of lmmokalee Road Severance PL# PL 201320001998, P120090000864, PL201400001 1 85, P120090000858, P120090000860, PL20090000865, PL 20150000166, P120090000866 BUYER: Pulte Home Corporaton SELLER: Barron Collier, Tom LeGangie, Bob Bullard, Heidi lckes, Patricia Reardon, Noella Russell Leaal Data: Sale Date: 2009-2015 Sale Price: $2,214,200 Sale Price per Base TDR. $25,000 Sale Price per Bonus TDR: $13,003 Sale Price per Blended TDR: $14,034 lnterest Conveyed: Less than Fee Acquisition (Development rights only) Conveyance: Agreement only no deed recording 70 TwinEagles Sales and lnformalion Centero COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON,NORRIS AND ASSOCIATES, INC. TDR Transaction #40 Prope″Rererencer Property Type: Address: County: Location: Severance PL# BUYER: SELLER: Vacant Land Naples, FL Collier East of Collier Blvd. on Vanderbilt Bch. Rd. Extension south of lmmokalee Road PL201320001998 Pulte Home Corporation Barron Collier Leqal Data: Sale Date: 2013 Sale Price: $1,894,200 Sale Price per Base TDR. $0 Sale Price per Bonus TDR: $15,000 Sale Price per Blended TDR: N/A lnterest Conveyed: Less than Fee Acquisition (Development rights only) Conveyance: Agreement only no deed recording 71 f Golde.n Gste 春 :: The l13St COLLIER COUNTY CARLSON, COUNTY COMMiSS!ONERS ASSOCIATES, lNC IDR Sales Analysis . Qualitative Clleda Subject TDR Sael TllR Sa降2 TDR Saに3 TDR Sa0 4 Project }lame HuSWIHHH Ranch Hacienda Lakes San Marino GoliClub oilhe Everglades Go[ Club ol lhe EYerglades YearofTEnsfer 20122013 20133015 20092015 Tohl # of units (Base and Bonus)418%1“28 Salo Pice NIA $6284488 $1,∞1,∞0$2.214.200 $1,8鱒 .200 Blended Price perllnit $15,0∞S14.000 Sll,8“S15,0∞ Bon$ unib only Propedy Righls Tnnsfered &veloplnenl Righls kvelopmenl Rllhis oeveloprnenl Righls Developmenl R ghls Developrnenl Righls Financing Market Cond∥lons 」un 17 S1445432 S191142 S509,2“,36.666 Adju$ed Sale Pice NIA S7,729,920 Sl12531042 S2723466 S2329866 Adiusted Pdce per Blended unit NA $18,450 S141"0 $18450 Localion SE Co∥け S∞∥er S∞∥0「E Co∥o`E Coler 。l units 418% Jt tes Eleclricity, Ielephone FuI Pubic Fu∥Pubic Eledicily Telephom Eleclnoly, Telephoie qccess Dl Road Paved Paved Paved Paled .ocation Avera!e S mla「 。f unts AveGge Slmlar S mlai Simlai 」t tes Average Supenor Supeior Sm∥ar qccess Superor Sup€ior Supedor Superlor overallRating Superor Supenor Supenor Supdor TDR Sales Analysis The above sales sheets and analysis chart show a comparison of the TDR transactions to the subject property. You will see different criteria considered in column one, the subject property in column two followed by the TDR sales in columns three, four, five and six. You will note the pOect name, year transferred, total number of TDR's including base and bonus credits, the price paid for those credits as well as price per unit. ln the second section the analyst gives consideration to property rights, transfened financing, market conditions, which is an adjustment made for the passing of time between the date of sale and the date of appraisal. This indicates an adjusted sales price for each transaction as well as an adjusted blended price per unit. 72 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS CARLSON, NORRIS AND ASSOCIATES, INC. ln section three the analyst notes the location, number of units, utilities and access for the sale properties and the subject. The last sec{ion of the analysis is a qualitative comparison of each of the transactions with the regards to location, number of units, utilities and access. The results of this gdd are a qualitative rating for each of the sales as compared to the subjecl. Sale number one is a 2O12,2O13 transaction involving the transfer of 418.96 total units including base and bonus. The price paid was $6,284,488 or $15,000 per blended unit. This transaclion was for the development rights. The transaction is analyzed on a cash basis without any impact caused by financing. A market conditions adjustment is made. A market conditions is made to all sales based upon a 5% per year increase in value. Property values in Collier County, based upon the Collier County Property Appraiseds tax rolls have shown an increase each year from 2013 through 2007. These increases range from 4.7o/o to 12.13o/o in 2016. The average increase in value over the last four years is 9.59% per year. lt is necessary to make an adjustment for time or maket conditions for these TDR sales. As the market gains a better understanding of the TDR process, we do believe that TDR transactions will minor the overall market in terms of market conditions. All sales are adjusted on the basis of 5 o/o pet leat. The market conditions adjustment resulted in an adjusted price for sale number one of $7,729,920 or $18,450 per blended unit. A comparison of this sale to the subject on the basis of location, number of units, utilities and access, results in a similar rating for location, number of units and a superior rating for utilities and access. Overall sale one is rated as superior. Sale number two is the San Marino PUD. The TDR transactions occurred over the time period between 2013 and 2015. 75.85 base and bonus credits transfened. The price paid was S1 ,061,900 or $14,000 per unit. Sale two is a transfer of the development rights through the TDR process. The sale is analyzed on a cash basis. A maket mnditions adjustment of 5% per year results in an adjusted sales price of $1,253,042 or a blended unit or an adjusted price per blended unit of $16,520. Sale two is compared to the subject on the basis of location, number of units, utilities and ac@ss. Sale two receives a similar rating for location and number of units and a superior rating for utilities and access. Overall sale two is rated as superior. Sale number three is the Golf Club of the Everglades. These TDR transfers occuned between 2009 and 2015. For market conditions purposes we are utilizing a 2013 date, 186.28 base and 73 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON, NORRIS AND ASSOCIATES, INC. bonus credits transfered. The price paid was $2,214,200 or $11,886 per blended unit. Sale three represents a transfer of TDR's or development rights. This transaction is analyzed on a cash basis. A market conditions adjustment of 5% per year results in an adjusted sales price of $2,723,466 or and adjusted price per blended unit of $14,620. Sale three is compared to the subject property on the basis of location, number of units, utilities and access. Sale three is rated as similar in location and number of units as well as utilities. Sale three is rated as superior with respecl to access. Overall, sale three is superior to the subject property. Sale number four is one transaction among a number of transactions that make up sale three. Sale four is a transaction involving bonus units only. 126.28 bonus units reportedly transfened for $1,894,200. This equals a price of $15,000 per bonus unit. This is the transfer of TDR's or development rights and is analyzed on a cash basis. The sale received a 5% annual time adjustment resulting in an adjusted sales price of $2,329,866. This equals an adjusted price per blended unit of $'18,450. Comparing sale four to the subject property on the basis of location, number of units, utilities and access, results in a similar rating for location, number of units and utilities and a superior rating for access. Overall sale four indicates a value of $15,000 per bonus TDR and is rated as superior to the subject. Conclusion of TDR Analysis - Valuation of Receiving Lands This analysis has utilized TDR sales as provided by the Collier County Planning Department. These transactions have been analyzed on a blended unit basis with the exception of one sale which was a bonus unit sale only. The adjusted blended per unit values for three of the comparables is from $14,620 to $18,450 per blended unit. The one bonus sale transaction has an adjusted price of $18,450 per blended unit and is rated as superior. The subject property's value for a blended TDR credit which includes Base, Early Entry, RMP and the consideration of conveyance bonuses will fall in a range between $14,600 and $j8,500. A difference will exist in associated values for receiving lands and sending lands. The reason for the difference between the value of a TDR credit associated with receiving lands and a TDR credit associated with sending lands is in the consideration of the time and effort to bring the TDR into existence in a receiving area versus a sending area and the fact that receiving areas are the ultimate location of the unit developement. once TDR's are established in a receiving area, they are closer shall we say to a finished product than are TDR credits that are within a sending area. We can theoretically consider the difference between the value of a TDR receiving credit and the 74 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON, NORRIS AND ASSOCIATES, INC. value of a TDR sending credit as costs and entrepreneurial profit associated with moving the TDR further to the fully entitled product. lt is my opinion the value of a blended TDR credit associated with receiving lands is $16,000 per unit and the value of a TDR credit associated with the purchasing TDR's from a sending land is $14,000 per credit. Based upon the above information we can estimate the market value of the 578 units to be located on the 578 acres of receiving lands valued on a blended TDR basis. The computation of multiplying 578 units by a value of $16,000 produces a market value estimate without further adjustments of $9,248,000. ln previous section of this report we have determined that in order to reach the maximum density of 578 units the subject will be required to go into the marketplace and purchase a total of 230 of those units. Based upon ourvalue of$14,000 per blended TDR, which the 230 units could be, results in an adjustment of $3,220,000. Subtracting the cost of acquiring 230 units from the gross value of 578 units produces a value for the receiving lands by TDR analysis of $6,028,000. Valuation of Sending Lands Below you will find an agriculture land sales location map, four sale write-ups for agricultural land sales and an analysis grid. 75 COLLIER COUNTY BOARD OF COUNTY COMMISS10NERSCARLSON, NORRIS AND ASSOCIATES,INC. AG Land Sales Map 76 COMMISS10NERS IATES, INC. COMPARABLE l Properfit Reference: Property Type: Address: County: Location: STMP/ID: Grantor: Grantee: Leoal Data: Sale Date. Sale Price: Sale Price per Acre: Recording: lnterest Conveyed: Deed Conveyed: Land Use: Zoning: Highest and Best Use. CNA Data # Farm Land 5980 SR 29 1mmokalee,FL 34142 Col∥er East side of SR 29 south of:nnmokalee 00232040207 Firstbank Mortgagel:nc Blocker Ranch oflmmokalee,LLC 」anuary 01,2015 $523,600 $4,501 5116/777 Fee Simple Waranty Deed A―MHO―RLSAO―ACSC―ST A―RMU Agncutture 959 77 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON, NORRIS AND ASSOCIATES, INC, Site Data: Site Dimensions: lnegular Site Size: 5,067,770 square feet, 116.340 acres Shape: lnegular Topography: Generally level ComerMsibilitylnfluence: NotApplicable Utilities: Electricity, Telephone, no water or sewer Access: Driveway from SR 29 Wetlands/Uplands: Average Soils: lmmokalee, Oldsmar, Basinger, Boca, Chobee, Holopaw and Wabasso SareAnarr6rb.' Sale Price: $523,600 Financing: Cash lndicated Price perAcre: $4501 Sale Confirmation: Verification: Curtis Blocker, 239-657-3621 Verifying Appraiser: J. Lee Nonis MAl, SRA, July 07, 2017 Sale History: Sold in 2005 for $2,057,000 Comments: This sale was acquired from a mortgage company and reflects that in the price. Reportedly a "good deal" was achieved. The price is within the range of prices found in the surrounding area. There were no significant improvements other than an old bam. The property had previously been farmed. There was no value attributable to any crop or personal property. Websoil survey identifies one soil type as a wetland soil, Chobee which represents about 5% of the property. Our file 17-75 CNA Data#959 78 OF COUNTY COMMISSIONERS AND ASSOCIAttES,INC. COMPARABLE 2 Properttt Reference: Property Type: Address: County: Location: STMP/ID: Grantor: Grantee: Leoal Data: Sale Date: Sale Price: Sale Price perAcre: Recording: lnterest Conveyed: Deed Conveyed: Land Use: Zoning: Highest and Best Use: CNA Data # Farrn Land 3440 SR 82ノ Edward Grove Rd. lmmokalee,FL 34142 Collier South side of SR 82 about one mile west of SR 29 00063520006,00063440005 SR 82 Land Holdings LLC CCVV82,LLC March 15,2017 $1,500,000 $7,481 5374ノ 645 Fee Simple Waranty Deed A―RMU A―MHO―RLSAO AgHculure 960 79 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERScARLSON, NORRIS AND ASSOCTATES, tNC. Site Data: Site Dimensions: lnegular Site Size: 8,733,780 square feet, 200.500 acres Shape: lnegular Topography: Generally level Corner^/isibility lnfluence: Yes Utilities: Electricity and telephone, no water or sewer Access: Paved Highway Wetlands/Uplands: Good Soils: lmmokalee, Pomello, Oldsmar, Basinger, Chobee SaIe Analysis.' Sale Price: $1,500,000 Financing: Cash indicated Price per Acre: $7,481 Sale Confirmation: Verification: Mark Rivlin atty. for seller, 305-66'1-4600 Verifying Appraiser: J. Lee Norris MAl, SRA, July 07 ,2017 Sale History: The property sold for $900,000 in July of 2013. Comments: The sale was confirmed by the aftomey representing the seller. The property had been on the market for some time. Most recent use was for crop production. There was no residual crop value or equipment in the transaction and no significant improvements. The location does lend itself to uses other than strict ag use. Less lhan 2o/oof the soils are of a wetland type. Seller financing was part of the transaction. Our file #17 -75 CNA Data#960 80 COLLIER COUNTY BOARD CARLSON,NORRIS OF COUNTY COMMISSiONERS AND ASSOCIATES, INC. COMPARABLE 3 Properfit Reference: Property Type: Address: County: Location: STMP/ID: Grantor: Grantee: Leoal Data: Sale Date: Sale Price: Sale Price perAcre: Recording: lnterest Conveyed: Deed Conveyed: Land Use: Zoning: Highest and Best Use: CNA Data # Agriculture 61 50 Pringle Lane lrnrnokalee,FL 34142 Collier North of O∥ヽⅣell Rd.,East of SR 29 00232360000 Everglades Farrns,:nc Divine Farms,inc February 1 6,2014 $517,400 $5,073 5018ノ 1997 Fee Simple Waranty Deed A―RMU0 A―MHO―RLSAO―ACSC―S丁 Agnculure 961 81 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS CARLSON, NORRIS AND ASSOCIATES, INC. Site Data: Site Dimensions: lnegular Site Size: 4,443,120 square feet, 102.000 acres Shape: lnegular Topography: Generally level CornerA/isibility lnfluence: N/A Utilities: Electricity, Telephone, no water or sewer Access: Dirt Road Wetlands/Uplands: Minimal Soils: Chobee, Pineda, Wabasso, Winder SaIe Analysis.' Sale Price: $517,400 Financing: Seller held mortgage Price per Acre: $5,073 Sale Confirmation: Verification: Asst. to Tom Boardman, Atty, 863674-1028 Verifying Appraiser: J. Lee Nonis MAl, SRA, July 07 ,2017 Sale History: No other recent sale noted in the public record @,: The sale was confirmed as arm's length thru an attorney to the transaction. The property has mostly been farmed in the past there is a lot of retention area. We estimate from the soil survey that 25o/o of lhe site is wetlands. Also verified with Collier AG appraiser and Chuck Smith, LandQwest. Our file 17-75. CNA Data# 961 82 COLLi OF COUNTY COMMISSIONERS AND ASSOCIATES, INC. COMPARABLE 4 Properfit Reference: Property Type: Address: County: Location: STRAP/ID: Grantor: Grantee: Leoal Data: Sale Date: Sale Price: Sale Price perAcre: Recording: lnterest Conveyed. Deed Conveyed: Land Use: Zoning: Highest and Best Use: CNA Data # Farrn Land Off Pringle Lane lrnrnokalee,FL 34142 Collier North of O∥VVell Road,just east of SR 29. 00232160006 Centerstate Bank of Flo面 da Oakes Farlns,lnc. September 27,2016 $550,000 $4,270 5318/2095 Fee Simple Waranty Deed A―RMUO A―MHO―RLSAO―ACSC¨ST Ag面 culure 962 83 Ctoo(濠 EaFth COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS CA.RLSON. NORRIS AND ASSOCIATES, INC. Site Data: Site Dimensions: lnegular Site Size: 5,610,528 square feet, 128.800 acres Shape: inegular Topography: Generally levet CornerA/isibility lnfluence: N/A Utilities: Electricity, Telephone, no water or sewer Access: Dirt Road Wetlands/Uplands: Minimal Soils: Oldsmar, Boca, Wabasso SaIe Analysis.' Sale Price: $550,000 Financing: Conventional Price per Acre: Vp70 Sale Confirmation: Verification. Colllier AG appraiser and Chuck Smith, LandQwest, Verifying Appraiser: J. Lee Norris MAl, SRA, July 07 ,2017 Sale History: No other recent noted in the public record Comments: This is a tract of farmland previously used for citrus. The site is all uplands, ditched and diked. Price is reflective of the low end of the market range. This is a bank sale. Our file 17-75 CNA Data#962 84 Agriculture Land Sales Adjustnent Analysis - Qualitative Cll・ la Subject ACSa ol AG Sa e2 AC Sa'o3 AC Sale 4 Location Hussey/HHH Randr 5980S貶 91mmok,ee “ 0ヽ R297L“旧rl●love Rd 6150 Pingle tane Attss olI Pln9 o R0 Recoding 5116″77 6371′646 501311997 531Ы 2006 Sale/AppEisal oale 」un 17 Januar1 1.2015 Mo商 152017 Feb「uaり 162014 September27.2010 Parcel Sire (Acres)3“OO 20050 Saに Plce S623600 Sl,6∞,000 $617400 $550000 Sale Pice perAcE $6073 領270 Innsactional Adjustments Prope"Rgh“Less than Fee teesimple Fee S mpe Fee S mple Fee Simple Financing Cashい Oicaた0 Cashい 01∽te0 Seller held Morlgage Convenlona Conditions of Sale Bank Orvned Ann's Lenglh Am's Lenglh Balk Owned Erpenditurcs lmmedialely afler Sale $0 SO Market Condl ons S600∞$88∞0$22000 Aqusled saに Plce S5866∞Sl.6∞000 $605401 S572.000 Ad,usted Sale Pdce perAcrc S6.042 S5935 PhFical Propedies Location SE Coler lmmokae€lmmokalee lmmokaee lrnmokalee ParcelSize (acBs) rnd Use RFMU Send 19 N8,沖 Э AMHO RtSAO ASCSST A RMU ANMU 苺RИU loning A'RFMU sendno.NBMo 苺RMU A MHORtSA0 ■MHORLSAOACSC ST 苺MHORtSAO‐ACSC‐ST 」t tes EleclrioU, Telephone 日ed10w,Tebphole Eledicity and Telephone Eleclridty Telephone Elecldclty, Telephone qccess 91 Roa0 Paved Two ane Paved trrc lane Dll Roa0 Dll Roa0 [liscellaneous Lessthan Fce NoSnge Fam tt Subd POlenl副 Developmenl pole n lial Loう otml岬 OenЫ り pOlemal Lo19“ml岬 denЫv polenlal long lem low density polenlial Phlsical Property Ratings Location Averag"o llplo「lnledor ParcelSlre AveBge Land use Average S mla「Simlar Simlor Zoning Average Simlar Avelage Simlar S mlar Access Far Superor Superor Simlar [tiscellaneous Far Superor Supeior Supenor Supeior OverallRating Supe or Supenor Superior Superior COLLiER COUNTY BOARD OF COUNTY COMMiSS10NERS CARLSON, NORRiS AND ASSOCiATES,lNC The above four sales are agricultural transactions located in Collier County and are compared to the 384 acres of sending lands which in this scenario have no development rights. The 384 acres have an agricultural highest and best use, therein lies the reason for this comparison. Property Rights Conveyedi "An element of compaison in the sales compaison approach; comparable propefties can be adiusted for differences in the real propetty ights involved in a transaction." The property rights conveyed for all four of these transactions were fee simple. An adjustment for the subjecl being a less than fee transaction is wananted. You will note on the 85 COLLiER COuNTY CARLSON, | COUNTY COMMiSS10NERS ASSOCiATES, INC sales grid in the miscellaneous category consideration of the difference in the development rights between the fee simple sales and the less than fee subject property. Financing Terms: "An element of compaison in the sa/es compaison approach; comparable propefiies can be adjusted for differences in the financing terms of a transaction, also called cash equivalency adjustment." The AG sale transactions were a combination of cash, seller held and conventionally financing. None of these components were considered to impact the price paid and therefore no adjustment. Conditions of Sale: "An element of comparison in fhe sa/es comparison approach; comparable propetties can be adjusted for differences in the motivations of either the buyer or a seller in a transaction, e.9., when the comparable transaction is not an arm's-lenglh sa/e." Consideration will be given to the fact that sales one and four were bank owned transactions at the time of sale. These two sales are representative of being on the lower end of the market range based upon this factor alone. Market Gonditions: "An element of comparison in lhe sa/es compaison approach; comparable properties can be adjusted for differences in the points in the real estate cycle at which the transactions occur, also called a time adjustment because the differences lh dates ofsa/e are ofren compared." Based on the previous market conditions analysis the sales are adjusted at 5% per year. Sales two receives no adjustment as it is a 2017 transaction. Adjusted Price per unit of value: The analyst has considered adjustments for property rights, financing, conditions of sale, expenditures after sale and market conditions. The adjusted sales prices for the transactions range from $4,441 per acre to 97,491 per acre. Qualitative Analysis: The next anarysis considers the factors of rocation, parcer size, rand use, zoning, utilities, access, and property rights transferred. Location: The comparabre sares are a[ rocated in the rmmokaree area further from the goods and services and general pafterns of growth. The location of all comparable sales are measured as inferior. 86 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON, NORRIS AND ASSOCIATES. INC. Parcel Size: The subjecl property will contain 384 acres. The comparable sales range in size lrom 102 acres to 201 acres and are comparable agricultural parcels to that of the subject. All sales receive a similar rating for size. Land Use: The subject property's land use is Rural Fringe Mixed Use Sending and is located in the North Belle Meade Overlay area. While the comparable sales have somewhat differing land uses they are not significantly different from the subject in terms ofthe overall uses, we have rated all comparable sales with respect to land use as similar. Zoning: The subject property's zoning is Agriculture, Rural Fringe Mixed Use Sending and North Belle Meade Overlay. Again, the comparable sales differ for somewhat with respect to zoning, but all ultimately are agriculture tracts. The comparable sales are rated as similar with respect to zoning as compared to the subject. Utilities: The subject property has electricity and telephone available. The comparable sales all have electricity and telephone available and are rated as similar in this category of comparison. Access: The subject property has dirt road arcess. The paved publicly maintained portion of the White Lake Boulevard extension is a significant distance from the subject property. Properties located on paved roads are measured as superior. Properties measured on dirt roads are measured as similar. ln this connection, sales one and two are measured as superior. Comparable sales three and four are on dirt roads and are measured as similar. Miscellaneous: The miscellaneous category is used to consider the "less than fee" component of the subject. The subject property is an agriculture parcel with no future development potential. Sales one, three and four are located in truly agriculture areas. These properties will remain agriculture for some time and have some potential low density long term development. We do consider this to be superior. Comparable two located on State Road 82 is located in close proximity to other developed properties and could see development sooner than the other comparable sales. comparable sale two is measured as superior with respect to its development potential. FinalAnalysisSendingLands(AGSales):Thecomparablesalesareallagricuhural transaclionslocatedincollierCounty.Theyhavealloccurredinarecentperiodoftimebetween 2Ol4 and 2OlT. The adjusted prices on a per acre basis range from $4'441 to $7'481 The 87 COLLIER COUNTY CARLSON.COuNTY COMMiSS:ONERSASSOCiATES, iNC qualitative analysis resulted in all four of the transac{ions being rated as superior to the subject. We do believe the subject's location is superior in closer proximity to developing areas of Collier County and Naples; however, the lack of future development is a significant factor. The subject property's value falls somewhere just below the overall range as indicated by these sales. lt is my opinion the market value of the subject property as a "less than fee" parcel with an agriculture highest and best use is $4,000 per acre which equals $1,536,000. ln order to provide additional support for the value of the sending lands we offer the following analysis of remainder sales on conservation easement parcels. Supplemental Support for Sending Lands Value Consevotion Edsement (Remainder) Soles shown os o Percentoge oJ FeeVolue Date of Sale County 0R Bk/Pc. Sale Price Acres Plice per Acre Esmt. Type Fee Value S●fe l Jun-15 Pdk/HILbOrough 9549/848 58,929,600 288046 S3,100 Green Swamp S5,000 Sale 2 Dec-15 Highlands 2507/621 S6,281,500 798146 S787 USDA WRP S3,000 S●fe 4 Sep-14 Sale 5 Apr 15 Flagler 2063/472 51′200′000 58464 S2′053 S,RWMDC[ S4,000 Sα le 3 May 14 Lake Polk 4484/1486 9335/786 Sl′100′000 S3,200,000 965 11522 Sl,140 52,771 Green Swamp Green Swamp S2,500 S5,500 %ofFee Va:ue Paid 62%26%46%50%51% Date ofSale County oR Bk/Ps. Sale Price Acres Price per Acre Esmt. Type Fee Value Sale 7 Aug-13 Polk 9030/1691 805000 45936 Sl,75244 TllTF CE S3,500 Sα le, May 14 Hendry 877/1408 S425,000 130132 S32659 uSDA CE Sl′500 Sole 10 Ma r11 Hendry 831.11273 6s0,000 646.61 S1,oos.24 Cons. Fund CE S2,2oo Sale 6 Nov-14 Martin 2750/1060 S3,00Q000 253887 Sl,18163 USDA WRP S5,500 Sale 8 Aug_15 DeSoto lnst tF201514004275 S4,477′200 3731 51,200 SWFMD CE S3,000 %of Fee Value Pald 21%50%40%22%46% The above ten sales are remainder transactions. ln other words, these are sites that have conservation easements. The conservation easements are for the purpose of limiting future development. These ten transaclions are all basically agriculture and recreation parcels. you will note these transactions occuned in a geographical area around Florida between 2011 and 2015. on a per acre basis the remainder transactions ranged from $326.00 per acre to $3,.r00 per acre. 88 COLL:ER COuNTY BOARD OF COUNTY COMMiSSiONERS CARLSON,NORRIS AND ASSOCIATES,lNC As a percentage of fee value these parcels show a range from 22o/o lo 62% of the fee value. The approximate mean of these ten transactions indicates that typically remainder parcels have a value of around 40% of the fee value. ln the next section of this report, an analysis will be presented wherein the value of the subject property will be measured based upon fee simple transactions in the Southwest Florida market area. The value supported by these sales is $8,000 per acre. Applying a percentage adjustment of 50% based upon these above ten transactions would support a value of $4,000 per acre. This information is provided for added support of the sending lands value supported by the four agricultural sale transactions. Again, it is my opinion that the sending lands value is estimated at $4,000 per acre as of the effective date of appraisal. The market value for the 384 acres of sending lands with no development rights is $1,536,000. Final Value Estimate TDR Analysis The summation of the market value for the receiving lands and the market value of the sending lands as a remainder parcel, results in an overall market value estimate of $7,5&,000. We will now provide an analysis of the subject property being a 962 acre tract valued by fee simple transactions of large acreage parcels. 89 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON,NORRIS AND ASSOCIATES,INC. SALES COMPAR:SON ANALYSIS―FEE S:MPLE LARGE ACREAGE TRANSACT:ONS 90 Land Sales Location Map COLLI OFAND COMMISSIONERSIATES, INC. COMPARABLE l Propert'v Reference: Property Type: Address: County: Location: STMP/ID: Grantor: Grantee: Leoal Data: Sale Date: Sale Price: Sale Price perAcre: Recording: lnterest Conveyed: Deed Conveyed: Land Use: Zoning: Highest and Best Use: CNA Data # Vacant Land East oflmmokalee Road Naples,FL Collier East oflnnmokalee Road&south ofW∥d Turkey 00209200009ノ 00209240001ノ 00113480009′ 00113520008 State Road 846 Land Trust 27th Pico Boulevard Limited Partnership May 12,2016 $38,479,500 $14,938 BooMPagei 5273/1278 Fee sirnple Trustee's Deed Ag面 cu∥ure Rural F∥nge Mixed―Use DistHct oveday Future residential development 900 Drive 91 「‐爾 COLLIER COUNTY BOARD OF COUNTY GOMMISSIONERSCARLSON, NORRIS AND ASSOCIATES, INC. Site Data: Site Dimensions: Approx. 1 1,000 feet of frontage on lmmokalee Rd. Site Size: 112,2'10,560 square feet, 2,576.000 acres Shape: lnegular Topography: Generally level in an undeveloped state Comer/Visibility lnfluence: Yes Utilities: Full utilities available Access: Average Wetlands/Uplands: Average Soils: All uplands soils lmmok4To/o, Myakka/Malabarl9%, Basingerl0%, Pineda6% Sale Analysis; Sale Price: $38,479,500 Financing: $30,000,000/Bank of America Price perAcre: $14,938 Sale Confirmalion: Verification: Billy Rollins - Realtor w/Land Solutions, 239-633-1963 Verifying Appraiser: Richard Tyler, January 31,2017 Sale History: No sales in previous 3 years Comments: Sale verified with listing broker Billy Rollins. The subject is 2,576r acres and consists of agriculture, mining, and preservation lands. lt is located in North Naples on the east side of lmmokalee Road approximately 13 miles east of lnterstate-7S. The land sits in the Rural Fringe Mixed-Use District overlay and designates 1 ,998t acres, of the total 2,5761 acres, as receiving lands and the remaining 578t acres as sending lands. There is an active agricultural farming lease as well as a mining lease. As to the farming lease, the owner receives a rental payment in return for the use of areas within the property (catfle grazing). The property was issued a Conditional Use permit for fill and rock excavation. A lease of the mining rights is in effect and operations are ongoing with the potential to mine over 45,000,000 cubic yards of construction materials. The subject owner receives a royalty for the materials produced from the property. The rental and royalty payments are used to off-set the carry costs for the property. Existing zoning allows up to 862 residential units or 0.34 DU per/acre. List price was $52,500,000 and exposed to the market for over '1 year. Ourfile# 17-16 CNA Data#900 92 COLLIER COUNTY BOARD OF CARLSON, NORRIS AND COUNTY COMMISSIONERSASSOCIATES, INC. COMPARABLE 2 Propertv Reference: Property Type: Address: County: Location: STRAP/ID: Grantor: Grantee: Lesal Data: Sale Date: Sale Price: Sale Price perAcre. Recording: lnterest Conveyed: Deed Conveyed. Land Use: Zoning: Highest and Best Use: CNA Data# Vacant Land 21230 Corkscrew Road Estero,FL 33928 Lee South side of Corkscrew Rd,nearthe SE comerof Lee County 27-46…27-00-00100.0000,1.000, and 2.0020, Schmidt Landing LLC,Schmidt Downs,LLC,Regwin, LLC BoⅥne Breeze,LLC December 21,2016 Sl,350,000 $6,750 :nst#2016000273094 Fee Simple Waranty Deed DRGR and Weuands(Densty Reduction Groundwater Resource 1/10,1/20) AG-2 1Ag面 cuLure) Curently agriculture and future low density residential 902 93 闊襄量 秦 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON, NORRIS AND ASSOCIATES, INC. Site Data: Site Dimensions: lnegular Site Size: 8,712,000 square feet, 200.000 acres Shape: lregular Topography: Generally Level CornerA/isibilitylnfluence: NotApplicable Utilities: Electricity and Telephone Access: Paved, two lane Wetlands/Uplands: Average Soils: Mostly Valaria, Hallandale, Pompano-Depr.lmmok, Felda SaIe Analvsis.' Sale Price: $1,350,000 Financing: Cash lndicated Price per Acre: $6,750 Sale Confrrmation: Veriflcation: Quentin Ruelle, Buyer, 239 947'1355 Verifying Appraiser: J. Lee Norris MAl, SRA, February 07,2017 Sale History: No other recent sale noted in the public record Commen(s.: The buyer indicated the sale is arm's length and was bought for investment purposes. County records show a residential improvement and an old airstrip. Neither is considered to contribute value to the sale. The site has a significant amount of native land and is used as grazing land. The county also identifies 52% of the site as uplands and 49% as wetlands_ The site has some 1l2 mile of frontage along the south side of Corkscrew Road. Our file number 17-16. CNA Data#902 94 COLLI COMMISS10NERS IATES, INC. COMPARABLE 3 Propertv Reference: Property Type: Address: County: Location: STRAP/ID: Grantor: Grantee: Leoal Data: Sale Date: Sale Price: Sale Price perAcre: Recording: lnterest Conveyed: Deed Conveyed: Land Use: Zoning: Highest and Best Use: CNA Data # Vacant Land 19500 Corkscrew Road Estero,FL 33928 Lee South of Corkscrew in SE Lee County 29-46-27¨00-00001.0000,31-46-27-00-0001.000,32- 46-27-00-00001.1000 RLF Corkscrew Holdings,LLC Pan Tera Holdings,LLC October 06,2015 $15,007,956 $10,279 1nst#2015-221551 Fee Simple VVaranty deed DRGRNVeuands :PD appr.for rnining 2007 Farrning,possible future rnining orlow density residential 656 95 OF COUNTY COMMiSSiONERSAND ASSOCIATES, INC Sた Darar Ste Dlmensions: Ste Size: Shape: lnegular 63,597,600 square feet, 1 ,460.000 acres lnegular Topography: Generally level CornerA/isibilitylnfluence: NotApplicable Utilities: Access: Wetlands/Uplands: Soils: Sale Analysr1s.' Sale Price: Financing: Price per Acre: Sale Confimtation: Verification: Verifying Appraiser: Sale History: E:ectrcity,Telephone Paved,h″o lane Typical ValkaHa,Pineda,Hallandale,Pompano,01dsmar, Felda Deprlmmok, S15,007,956 Cashto Se∥er S10,279 Gulf Cltrus Properties/George VVinsiow,9415751505 」Lee No「is MAl,SRA,February 17,2016 」une,2010 Sll,500,000 Commen,6.: This property is improved with a 1,080 net tree acre Citrus grove with approx. 70 acres of fallow land. The grove is Hamlins and Valencias. There is potential for mining on this site, permitting is not in place. lmprovements include a shop/office structure, work shelters, pumps and irrigation equipment. Approximately 10% of the site is wetlands. No development entitlements are approved. Long term the property was bought as an investment with residential development as the intended direction. lncome from the grove operation is said to offset some of the operational expenses, the value is in the land redeveloped. Our fie #16-24 CNA Data#656 96 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS CARLSON, NORRIS AND ASSOCIATES, INC. COMPARABLE 4 Propeftit Reference: Property Type. Address: County: Location: STMP/ID: Grantor: Grantee: Leaal Data: Sale Date: Sale Price: Sale Price perAcre: Recording: lnterest Conveyed: Deed Conveyed: Land Use: Zoning: Highest and Best Use: CNA Data# Vacant Land 18500 Corkscrew Road Estero,FL 33928 Lee South side of Corkscrew Rd,east of卜 75 30-46-27-00-00001.0000 RLF Corkscrew Holdings LLC Pepperland LLC October 1 8,2013 S4,800,000 $7:500 1nsUチ 20130000243597 Fee Slmple Warranty Deed DRGR IPD(lnd.Planned Dev.) Farming,Low Density Residenual and pOSsible Mining 658 97= COLLI ER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON, NORRIS AND ASSOCIATES, INC. Site Data: Site Dimensions: 5280' x 5280' Site Size: 27,878,400 square feet, 640.000 acres Shape: Square Topography: Generally Level CornerA,/isibilitylnfluence: NotApplicable Utilities: Electricity, Telephone Access: Paved, two lane Wetlands/Uplands: typical Soils: Sand and other Depressional Soils Sale Analvsis: Sale Price: $4,800,000 Financing: Cash to seller Price per Acre: $7,500 Sale Confirmation: Verification: Mr. Black, owner representative, 239 825 4060 Verifying Appraiser: J. Lee Norris MAl, SRA, February 16, 2016 Sale History: 0612010, $11,500,000 including 3 other parcels Comments,: The site is a section of farmland with all the infrastructure in place for a quality farm operation. Sufficient inigation ditching, reservoir, and 13 wells with pumps are in place. Reportedly there is good aggregate on site from fill dirt to limestone. Currently farmed for specialty peppers. Lee County District Query identifies 78 % of the site as uplands and 22o/o as wetlands. A previous owner retains some 25% of the net proceeds on mining. Potential for low density residential development may exist as well. There are no structures with any significant value. No permitting or application for increased density or other entitlements underuay to date. The owner is closely monitoring events at The Place at Corkscrew located on the north side of Corkscrew Road. Our file 16-24 CNA Data#658 98 COLLIER COUNTY BOARD CARLSON,NORRIS OF COUNTY COMMISS10NERS AND ASSOCIATES, INC. COMPARABLE 5 Propertv Reference: Property Type: Address: County: Location: STRAP/ID: Grantor: Grantee: Leoal Data: Sale Date: Sale Price: Sale Price perAcre: Price per Dev. Unit: Recording. lnterest Conveyed: Deed Conveyed. Land Use: Zoning: Highest and Best Use: CNA Data # Residential Vacant Land 16871 Corkscrew Road Estero,FL 33928 Lee North side of Corkscrew Rd.east of卜 75 23-46-26-00-00003.000,plus 10 addltional parcels Resource Conservalon Holdings LLC,Ascot Mining LLC Place at Corkscrew LLC C)ctober 25,2015 $221000,000 $16,159 N/A lnstr.#2015-235862 Fee Simple Waranty Deed DRGR wtth ovedayfor SFR(l perl) AG-2 to RPD Farming,potential residential or mining 657 99 COUNTY COMMISSiONERSASSOCIATES, lNC Sた Darar Ste Dimensions: sne size: Development Unls: Development Density/Acre: 1 per acre +- Shape: Rectangular Topography: Generally Level CornerA/isibilitylnfluence: NotApplicable Utilities: Water. Sewer Access: Wetlands/Uplands: Soils: Sale Analvsis: Sale Price (Adj): Financing: Price per Acre (Adj): Price per Dev. Unit (Adj): Sale Confirmation: Verification: Verifying Appraiser: Sale History: Not Applicable 59,303,891 square feet, 1,361 430 acres 1325 Paved,t″o:ane typical Sand and some depressional S24,000,000 Cash to Seller S17,629 S18,113 」oe Cameratta,2394258662 」Lee No「is MA:,SRA,February 17,2016 S33,200,00009/2005 Comments: This property was put under contract in June of 2014. Since that time the developer has spent an additional $2,000,000 in legal, environmental and permitting. A DO was achieved in late 2015 with a great deal of site restoration to the properties natural state the developer was successful in achieving a density change from 1 unit per 10 acres to 1 unit per acre. The developer has approval for water and sewer from sources some 5 miles to the west. The water and sewer capacity will only meet the needs of this property and cannot be hooked into by other nearlcy adjoining properties. Since the closing in October of 2015 a mmmunity group in Estero (ECCL) has flled a lawsuit to stop the development based on their belief the proposed development is not consistent with the comp plan, they also site traffic count and added danger to the threatened Florida Panther. Total number of units 1325. out fie 16-24 CNA Data#657 100 OF COUNTY COMMiSSIONERS AND ASSOCIATES, lNC COMPARABLE 6 ProDettv Refercnce: Property Type: Address: County: Location: STMPiID: Grantor: Grantee: Leqal Data: Sale Date: Sale Price: Sale Price per Acre: Recording: lnterest Conveyed: Deed Conveyed: Land Use: Zoning: Highest and Best Use: CNA Data # Vacant Land 17311 1mmokalee Road Naples,FL 34102 Co∥ier West side oflmmokalee Rd east of卜 75,north of 47th 209280003,113400005 TnJstfor Public Land Board of Tn」stees,lntemalimprovement Trust ofthe State of Fla 」anuary 28,2015 $9,765,000 S15,737 5116/1399 Fee Simple Waranty Deed AgHcu∥ure/Ruml んMHO,Natural Resource Protection Ove∥ay,Rural Frlnge Mixed Use Ove∥ay Future Single Fam∥y655 101 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS CA R LSO N, NORRIS AND ASSOCIATES, INC. Site Data: Site Dimensions: 10,656' x 2536' +- Site Size: 27,028,980 square feet, 620.500 acres Shape: Mostly Rectangular Topography: Generally Level ComerA/isibilitylnfluence: NotApplicable Utilities: Electricity, Telephone Access: Paved, two lane Wetlands/Uplands: Typical Soils: Sand and Depressional Sare Arrarysrb.' Sale Price: $9,765,000 Financing: Cash lndicated Price per Acre: $15,737 Sale Corrtirmation: Verification: Wayne Griffin, DEP and appraisal, 850 245 2555 Verifying Appraiser: J. Lee Norris MAl, SRA, February 16, 2016 Sale History: No other recent sales in the public record Comments: The site is a combination of native range land and land previously cleared and used for farming. Dykes and pumps are present to provide for adequate farm use drainage and irrigation. Water and sewer utilities are located '1.25 miles away. The property was listed by Land Solutions for $12,000,000 and had a conceptual density of 267 units. The sale price was established based on two appraisals. Oil, gas and mineral rights run with the land with access for extrac{ion. Actual land use allows for one unit per 5 acres (124 units) yet conceptually is increased due density transfer options (TDR's) that may be available to this site. Uplands equals 310.5 acres and wetlands is 309.5 acres. Our file number 16-24 CNA Data#655 102 COLLIER COUNTY BOARD OF COuNTY COMMISSiONERSCARLSON, NORRIS AND ASSOCIATES, lNC Land Salss Adjustment Analysis - Qualitative SubieCt Sale`Sale 2 Sale 3 Sale 4 Sale 5 Sale 6 Easl ol hmokalee Road 2,2"Cork3Ctt ROad Estero 1 9500 Cofiscrsw Road Estero 1 8500 Cort3cr6w Road E ero 16871 CortGcrcw Road Eslsm `7311 lmmoka ee RoadNaples Book′Page:5273′1273 lnst,2016000273094 nst#2015‐22155,lns確 20130000243597 lrlstr#201'235862 5,`6′1390 $38479500 S1 350000 $16007956 $4800000 S22000000 s9765000 oun‐17 May12 2016 December 21 2016 October 0 20(5 October18 20,3 Octobe,252015 January 28 2015 Parcel Size(Acres)57800 20000 146000 64000 1361 43 38479500 1350000 4300000 22000000 9765000 s14938 S6750 $7500 S16(50 S15737 Transactional Ad,uslmcnl" - Fee S mpe Financing $30000000′Bank O( Amenca Cash lndic8ted Cash to Seler Cash to Seler Ca3h nd cated ;;;dit0r6s lmmedlatolv aftor sale $2000000 Чarket Cond tions S2308770 $40500 $1 350716 S012000 $1 980000 Sl 171 800 AdiuSted Sale Pnce S40788270 S1 390500 016358672 $5712000 S25980000 S10936800 AdiuSted sale Price per Acre S15834 $6953 $11 205 S8925 s19083 117626 Physicdl ProPPrlies LOC ation SE Coler 2576 200 1460 , 361 Land USe RFMU Sendng NBMO RFMU Recevng NBMO DRGR and We∥ands( Dens ty Reducio■ Groundwaler Resource l′10 1′20) DRGR′,Vet ands DRCR DRGR■th ovelay for SFR (l perl) Zoninq A RFMU send n9-NBMO A‐RFMU Rece vng_NBMO Rural Fnnge lvlixed'Use AC‐2 1Agleじ ture)IPO appr.lor mining 2007 IPD(lnd Planned Dev〉AG 2 to RPD A MHO. NatumlReso!rce Prcteclion Overlay, Rural Fringe Mixed Use Oveday 」t tes Eleclncily, Telephone F ul utl ues avalable Elecrriciiy and Telephone Elecrricity, Telephone Elocrriciry, Telephone Electdcily, Telephone occess Dl■Road PhysiCaI Property Rat ngs S m18f S mlar Sim∥ar Simlar S mlar S miar S mlar S mlar S mlar lnfelor S mlar S mla「S mlar Simiar S mlar S miar S mlar Simlar S mlar S miar Far overan Rating Superior lnferior Simlar S mla「Superior Superior 103 : : : 1 : l i : I : : ! : : I : I I COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON, NORRIS AND ASSOCIATES, INC. This analysis is provided as additional support for the market value of the subject property. The TDR process can be cumbersome and difficult to navigate. We believe that providing this additional qualitative sales comparison analysis of fee simple transactions will add overall credibility to the market value estimate. The basis of this analysis is the comparison of actual fee simple transactions that exist in the Southwest Florida marketplace for large acreage parcels with similar highest and best use and physical characleristics. We researched the marketplace and found six transactions we also included are two listings. Below is the qualitative analysis presented in narrative form for the reader's consideration. The above chart has a criteria column, a subject column and six corresponding columns for the mmparable sales. The comparable sales are analfzed on a transactional basis for characteristics relating to property rights, financing, conditions of sale, expenditures after sale if necessary and market conditions. These transactional adjustments result in an adjusted sales price and an adjusted sales price per acre. This analysis is followed by consideration of the sales and subject property's physical characteristics of location, size, land use, zoning, utilities and access. This analysis is made on a qualitative basis wherein each of these categories of comparison receives a rating of similar, inferior or superior. Each of the six sales is given an overall rating of similar, inferior or superior. Propefi Rights Conveyed: "An element of compaison rn lhe sa/es compaison approach; comparable properties can be adjusted for differences in the real propefty ights involved in a transaction;' The property rights conveyed for all six sales were fee simple, no adjustments were necessary. Financing Terms: "An element of compaison in fhe sa/es compaison approach; comparable propefties can be adjusted for differences in the financing terms of a transaction, also called cash equivalency adjustment." The transactions were a combination of cash, cash to seller and conventionally financing. Financing of these six sales had no impact on sales price. conditions of sale: "An element of compaison in the sales compaison approach; comparable propefties can be adiusted for differences in the motivations of either the buyer or a seller in a transaction, e.9., when the comparabte transaction is not an am,s-length sa/e.,' conditions of sale is that category used to adjust out for certain components such as possibly physical improvements 104 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS GARLSON, NORRIS AND ASSOCIATES, INC or such as vertical improvements or buildings which may have impacted value. No conditions of sale adjustments are wananted. Expenditures After Sale: AS to sale five an additional $2,OOO,0OO was spent to gain all the permitting and entitlements. Market Conditions: "An element of compaison in fhe sa/es compaison approach; comparable properties can be adjusted for differences in the points in the real estate cycle at which the transactions occur, also called a time adjustment because the differences r,h dates of sa/e are ofren compared." The Collier County Property Appraiser's office reports property values increasing from 2013 to 2016 in a positive manner. These increases have gradually increased from 4.71o/o up to 12.13o/o over this four year time period. The average increase is measured at 9.59% over the last four years in Collier County. Also, the Lee County Property Appraiser's office reports that Lee County property values increased in the tax year 2015 8.2o/o and for the tax year 2016 property values increased 6%. Based upon the above analysis these large acreage transactions will be adjusted on the basis of a 5o/o pet yeat increase in value. Adjusted Price per Unit of Value: The analyst has considered the base adjustments for property rights, flnancing, conditions of sale, expenditures after sale and market conditions. Market conditions adjustments were made to all of the sales. This process has resulted in an adjusted price per acre range from $6,953 to $19,083. Qualitative Analysis: The next analysis considers the factors of location, size, land use, zoning, utilities and access. This portion of the analysis process was prepared on a qualitative basis wherein each of the characteristics for the sale properties is given a rating of similar, inferior or superior. An overall rating for each comparable sale as compared to the subject is also provided. Location: The subject property is located in southeast collier county. comparable sale one is located in east Naples off of lmmokalee Road. Comparables two, three, four and five are located in Estero along Corkscrew Road. These locations vary considerably depending on what section of corkscrew Road the property is located on. Lastly, comparable six is located on lmmokalee Road in east collier county. comparable sales one, three, four, five and six are measured as similar in t05 COLLiER COuNTY BOARD OF COUNTY COMMISSiONERSCARLSON, NORRIS AND ASSOCIATES, iNC location. Comparable sale two located at the far end of Corkscrew Road is measured as inferior to the subject. Parcel Size: The subject property contains 962 total acres. The comparable sales range in size from 200 acres to 2,576 acres. Sites that are significantly larger, while not necessarily inferior would have a lower price per unit of comparison. ln this case per acre and therefore for qualitative purposes are rated as somewhat inferior. Likewise, sales that are significantly smaller would typically have a higher per acre basis and therefore are rated as superior on a qualitative basis. Comparable sales four and six are rated as similar, comparable sales one, three and five are rated as inferior and lastly, sale two is rated as superior. Land Use: The subject property's land use includes Rural Fringe Mixed Use Sending and Rural Fringe Mixed Use Receiving in addition to the North Belle Meade Overlay area. The comparable sales which are measured as similar to the subject include sales one and six, the Collier County transactions. Comparable sales two, three and four are measured as inferior with lower overall density associated with them. Comparable sale five was entitled for a significant number of units and therefore we consider the land use classification of sale five to be superior. Zoning: ln the same connection as land use we measure the zoning associated with sales one and six to be similar, the zonings of comparables two, three and four are also measured as similar and the zoning associated with sale five being rated as superior. Utilities: The subject property has electricity and telephone utilities available. Comparable sales one and five have all utilities available and are measured as superior. Comparable sales two, three, four and six only have electricity and telephone available and are measured as similar. Access: The subject property has limited access from a long dirt road leading from west Lake Boulevard extension along Blackburn Road which is a one lane dirt road. lt is not publicly maintained. All comparable sales have substantially superior access along paved roads and are measured as superior in this category of comparison. Final Analysis sales comparison Large Acreage Fee Simple valuation: The above analysis uses six transactions that have occuned in the Collier and Lee County markets since 2013. These sale transac{ions are all competitive in that they are large acreage tracts in the general path of 106 COLLIER COUNTY BOAR0 0F COUNTY COMMiSSiONERS CARLSON, NORRIS AND ASSOC:ATES, lNC development most of which were purchased with low density development rights but potential for higher density through the permitting proess. The analysis has been made on a qualitative basis. The final analysis resulted in two of the transactions as being rated as similar, one transaction being rated as inferior and two transactions being rated as superior. The superior rated transactions are sales one, five and six. The adjusted price per acre of these transactions is from $15,834 to $19,083. Sale five is significantly superior and will receive the least emphasis. Sale one had signmcant value influencing components relating to mining and is rated as superior. Sale six receives less emphasis because it was a transaction with a government entity as the buyer. The subjec{ property's value should be below that value indicated by sales one, five and six. Comparable sale two is the lowest rated sale and is rated inferior with an adjusted price of $6,953 per acre. This property was purchased for investment and is located on the extreme west end of Corkscrew Road. The subject's value should be higherthan the indicated value of this sale. Comparable sales three and four are rated as similar with adjusted prices ranging between $8,925 and $1 1 ,205 per acre. The subject's value should fall within a range close to that value associated with sales two, three and four. As additional support we offer the following information about cunent listings. A property known as Edison Farms in Lee County is cunently on the market. The Edison Farms parcel contains 3,907 acres. Approxim alely 7Oo/o of the property is wetlands the remaining is mostly pine flatwoods uplands. The property has legal access but no road access. The property is cunently listed at $49,000,000. Lee County has offered up to $42,400,000. The asking price of the property is $ 12,544 per acre. The most recent offering by Lee County to buy this parcel is $10,853 per acre. This property is in the immediate path of growth taking place in southem Lee County. This property has high development potential great exposure along lnterstate 75 and significant environmental value as well. ln Collier County, a property on Oil Well Road east of lnterstate 75 is cunently for sale through CRE Consultants. This property is known as Winchester Lakes- This property is an active mining operation. This property was not used in our Sales comparison analysis for this factor. The property was purchased in December 2015 for $4,000,000 or $6,116 per acre. The property has frontage along a paved road, is cunently an active mine and is located within the Rural Land Stewardship District. The property is identified as a RFMUD receiving land. The current list price ofthe property is $9,250,000 or $14,144 per acre. 107 COuNTY COMMISSiONERS ASSOCiATES, INC Based upon the above analysis, it is my opinion giving significant consideration to the lack of utilities and limited access to the subject property, the market value of the subject property is best supported as of the effective date of appraisal, June 16,2017 at $9,000 per acre which produces a market value estimate of $8,658,000. Final Analysis Sales Comparison Approach The subject's market value estimate has been supported by a TDR analysis as well as a Fee Simple Acreage Sale Transaction Analysis. The TDR analysis produced a market value estimate of $7,564,000. The Sales Comparison analysis utilizing fee simple acreage transactions supported a value of $8,658,000. Placing emphasis on both of these approaches, it is my opinion the overall market value ofthe subject property as ofJune 16, 2017 was $8,200,000. 108 TDRAndyst COLL:ER COUNTY BOARD OF COUNTY COMMiSS10NERS CARLSON, NORRiS AND ASSOCiATES, INC SAlFS COMPARISOIVAⅣAlySIS■ⅣD COメ リClυ S′ONS RECEIVING LANDS Value per B!ended TDR ― 578 Un ts「Dr勁 516,000 S9,248,000 230 Unts FDRゝ to be acq面 reO) S14,000 S3,220,000 Value ofReceiving Lands bvTDRAnalyls S6,028,000 ~ SENDING TANDS (as a remainder parcel no development rights) 384 Acres Value of Sending Lands by Price per Acre MARKET VALUE OF SUB,ECT BY TDR ANALYSIS Value per Acre S4,ooo Sα les Com,o″sο ηハnα ′ysis Value per Acre S9,000 MARKET VALUE OF SUBJECT BY PER ACRE ANALYSIS S8,6s8,ooo FINAl MARκ fr νハ上υ[ANAム ysls s8,20o,ooo Sl,536,000 __ 57,564,000 962 Acres 109 COLLIER COUNTY BOARD OF COuNTY COMMISS10NERSCARLSON, NORRIS AND ASSOCiATES, INC RECONCILIAT10N OF VALUE Value Estimate by the Cost Approach Not Applicable Value Estimate by the lncome Approach Not Applicable Value Estimate by the Sales Comparison Approach $8,200,000 The Cost Approach has been considered but was not used because there are no improvements. The lncome Approach was considered but was not used. The subject property does not have income potential as is. The subject property is a large acreage parcel containing a total of 962 acres on the north side of lnterstate 75. The property has access along a dirt road which extends off of White Lake Boulevard and is known as Blackburn Road. The subject property contains 384 acres of sending lands and 578 acres of receiving lands. A settlement agreement in a Bert Harris lawsuit between the property owner and the Collier County government resulted in the establishment of this ratio of receiving and sending lands. From a Sales Comparison perspective the valuation of the subject property has been measured in two ways. The first method was through TDR analysis with further consideration of the sending lands being a remainder parcel with no development rights. A significant amount of research was undertaken in order to locate TDR sales as well as support for the remainder parcel. The value estimate by this analysis is well supported. ln addition, the analyst has provided an estimate of market value based upon a comparison with large acreage fee simple transactions in the Southwest Florida market area. These two techniques were conelated into a well supported final value estimate. This appraisal does not value oil, gas and mineral rights associated with the subject property. This is based upon the conditions upon which the appraisal was contracted for. 110 COLLIER COUNTY CARLSON, |COUNTY COMMiSSiONERSASSOCiATES, lNC Based upon the analysis presented in this appraisal report, it is my opinion the subject property warrants a market value as of the effective date June 16, 2017 for its fee simple ownership and in its "as is" condition of: ElGHT MiLL:ON TWO HUNDRED THOUSAND DOLLARS CARLSON,NORRiS AND ASSOCIATES,INC (S8,200,00000) 」LSta certified general real estate appraiser RZM3 111 ―ns,MAI,SRA COUNTY COMMISSiONERSASSOCiATES, INC Section 6-Cttr曹 嗣ca∥on and Lim■ヨng Cond敵 lorts Certification of J. Lee Nonis, MAl, SRA I certify to the best of my knowledge and belief: . The statements of fact contained in this report are true and conect. . The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and is our personal, impartial and unbiased professional analyses, opinions, and conclusions. . I have no presenl or prospective interest in or bias with respect to the property that is the subject of this report and have no personal interest in or bias with respect to the parties involved with this assignment. . My engagement in this assignment was not contingent upon developing or reporting predetermined results. . My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the aftainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use ofthis appraisal. . This appraisal assignment was not based upon a requested minimum valuation, a specific valuation, or the approval of a loan. . My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice of The Appraisal Foundation and the requirements ofthe Code of Professional Ethics and the standards of Professional Appraisal Practice of the Appraisal lnstitute, as well as the requirements of the state of Florida relating to review by its duly authorized representatives. This report also conforms to the requirements of the Financial lnstitutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). ' The use of this report is subject to the requirements of the Appraisal lnstitute relating to review by its duly authorized representatives. ' J. Lee Nonis has completed the requirements of the continuing education program of the Appraisal lnstitute. Certification is cunent through December 31 , 2021. . J. Lee Nonis has made a personal inspection of the property that is the subject of this report. 112 COLLiER COUNTY CARLSON,| No one provided significant real property appraisal assistance to the persons signing this report. J. Lee Norris has extensive experience in the appraisal/review of similar property types. J. Lee Nonis is cunently certified in the state where the subject is located and has completed the continuing education requirements set forth with the State of Florida. Certification is cunent until November 30, 2018. Although other appraisers may be contacted as a part of our routine market research investigations, absolute client confidenliality and privacy are maintained at all times with regard to this assignment wilhout conflict of interest. J. Lee Nonis is in compliance with the Competency Provision in the USPAP as adopted in FIRREA 1989 and has sufficient education and experience to perform the appraisal of the subject property. Based upon the analysis presented in this appraisal report, it is my opinion the subject property warrants a market value as of the effective date June 16,2017 for its fee simple ownership and in its "as is" condition of: E!GHT MILL:ON IWO HUNDRED THOUSAND DOLLARS CARLSON,NORRIS AND ASSOCIATES,lNC (S8,200,000.00). 113 COLLiER COUNTY CARLSON, |COUNTY COMMiSSiONERS ASSOCiATES, iNC General Assumptions & Limiting Conditions lnformation Used: No responsibility is assumed for accuracy of information fumished by others or from others, including the client, its officers and employees, or public records. We are not liable for such information or for the work of contractors, subcontrac{ors and engineers. The comparable data relied upon in this appraisal has been confirmed with one or more parties familiar with the transaction unless otherwise noted; all are considered appropriate for inclusion to the best of my factual judgment and knowledge. Certain information upon which the opinions and values are based may have been gathered by research staff working with the appraiser. Names, professional qualifications and extent of their participation can be furnished to the client upon request. Legal, Engineering, Financial, Structural or Mechanical Nature, Hidden Components, Soil: No responsibility is assumed for matters legal in character or nature nor matters of survey, nor of any architectural, structural, mechanical or engineering nature. No opinion is rendered as to the legal nature or condition of the title to the property, which is presumed to be good and marketable. The property is appraised assuming it is free and clear of all mortgages, liens or encumbrances, unless otheMise stated in particular parts of this report. The legal description is presumed to be conect, but I have not confirmed it by survey or otherwise.I assume no responsibility for the survey, any encroachments or overlapping or other discrepancies that might be revealed thereby. I have inspected, as far as possible by observation, the land thereon; however, it was not possible to personally observe conditions beneath the soil or hidden; as a result, no representation is made herein as to such matters unless otherwise specifically stated. The estimated market value assumes that no such conditions exist that would cause a loss of value. I do not warrant against the occurrence of problems arising from any of these conditions. lt is assumed that there are no hidden or unapparent conditions to the property, soil, subsoil or structures, which would render them more or less valuable. No responsibility is assumed for any such conditions or for any expense or engineering to discover them. lnformation relating to the location or existence of pubtic utilities has been obtained through inquiry to the appropriate utility authority, or has been ascertained from visual evidence. No warranty has been made regarding the exact location or capacities of public utility systems. Subsurface oil, gas or mineral rights were not considered in this report unless otherwise stated. Legality of Use: The appraisal is based on the premise that there is orwill befull compliance with all applicable Federal, State and local environmental regulations and laws, unless otheruise stated in the report; and that all appropriate zoning, building and use regulations and restrictions of all types have been or will be complied with and required licenses, consent, permits or other authority, whether local, state, Federal and/or private, have been or can be obtained or renewed for the use intended and considered in the value estimate. Component Values: The distribution of the total valuation of this report between land andimprovements applies only under the proposed program of utilization. The separate valuations ofland and buildings must not be used in conjunction with any other appraisal, and are invalid if soused. 114 COUNTY COMMISS10NERS ASSOCIATES, lNC A report related to an estate that is less than the whole fee simple estate applies only to the fractional interest involved. The value of this fractional interest, plus the value of all other fractional interests, may or may not equal the value of the entire fee simple estate considered as a whole. A report relating to the geographic portion of a larger property applies only to such geographic portion and should not be considered as applying with equal validity to other portions of the larger property or tract. The value for such geographic portions, plus the value of all other geographic portions, may or may not equal the value of the entire property or tract considered as a single entity. All valuations in the report are applicable only under the estimated program of the highest and best use and are not necessarily appropriate under other programs of use. Auxiliary and Related Studies: No environmental or impact studies, special market study or analysis, highest and best use analysis study or feasibility study has been requested or made by us unless otherwise specified in this repod or in my agreement for services. I reserve the unlimited right to alter, amend, revise or rescind any of these statements, findings, opinions, values, estimates or conclusions upon any subsequent study or analysis or previous study or analysis that subsequently becomes available to us. Dollar Values, Purchasing Power: The value estimates and the costs used herein are as of the date of the estimate of value. All dollar amounts are based on the purchasing power and price of the United States dollar as of the date of value estimate lnclusions: Furnishings and equipment or business operations, except as otherwise specifically indicated, have been disregarded, with only the real estate being considered. Proposed lmprovements Conditioned Value: For the purpose of this appraisal, on- or off-site improvements proposed, if any, as well as any repairs required, are considered to be completed in a good and workmanlike manner according to information submitted and/or considered by us. ln cases of proposed construction, the report is subject to change upon inspection of the property after construction is complete. The estimate of value, as proposed, is as of the date shown, as if completed and operating at levels shown and projected. Value Ghange, Dynamic Market lnfluences: The estimated value is subject to change with market changes over time. Value is highly related to interest rates, exposure, time, promotional effort, supply and demand, terms of sale, motivation and conditions surrounding the offering. The value estimate considers the productivity and relative attractiveness of the property both physically and economically in the marketplace. The estimate of value in this report is not based in whole or in part upon race, color or national origin of the present owners or occupants of the properties in the vicinity of the property appraised. ln the event this appraisal includes the capitalization of income, the estimate of value is a reflection of such benefits and my interpretation of income and yields and other faclors which were derived from general and specific market information. Such estimates are made as of the date of the estimite of value. As a result, they are subiect to change, as the market is dynamic and may .rtrrrriv change over time. The datl upon which the value estimate applies is only as of the date ot vatujtion, ai stated in the letter of iransmittal. The appraisal assumes no responsibility for economic or physical faclors occuning at some later date which may affect the opinion stated herein. 115 COLLIER COUNTY BOARD OF COUNTY COMMiSSiONERSCARLSON, NORRiS AND ASSOC:ATES, iNC An appraisal is the product of a professionally trained person, but neve(heless is an opinion only, and not a provable fact. As a personal opinion, a valuation may vary between appraisers based upon the same facts. Thus, the appraiser warrants only that the value conclusions are his best estimate as of the date of valuation. There are no guaranties, either written or implied, that the property would sell for the expressed estimate of value. Title Review: Unless otherwise stated, the appraiser has not reviewed an abstract of title relating to the subject property. No title search has been made, and the reader should consult an attomey or title company for information and data relative to the property ownership and legal description. It is assumed that the subject title is marketable, but the title should be reviewed by legal counsel. Any information given by the appraiser as to a sales history is information that the appraiser has researched; to the best of my knowledge, this information is accurate, but not warranted. Management of the Property: lt is assumed that the property which is the subject of this report will be under prudent and competent ownership and management over the entire life of the property. lf prudent and competent management and ownership are not provided, this would have an adverse effect upon the value of the property appraised. Confidentiality: We are not entitled to divulge the material (evaluation or valuation) content of this report and analytical findings or conclusions, or give a copy of this report to anyone other than the client or his designee, as specified in writing, except as may be required by the Appraisal lnstitute, as they may request in confldence for ethic enforcement, or by a court of law with the power of subpoena. All conclusions and opinions conceming the analyses as set forth herein are prepared by the appraisers whose signatures appear. No change of any item in the report shall be made by anyone other than the appraiser, and the firm shall have no responsibility if any such unauthorized change is made. Whenever our opinion herein with respect to the existence or absence of fact is qualified by the phrase or phrases "to the best of our knowledge", "it appears" or "indicated", it is intended to indicate that, during the course of our review and investigation of the property, no information has come to our attention which would give us actual knowledge of the existence or absence of such facts. The client shall notify the appraiser of any error, omission or invalid data herein within 1O days of receipt and retum of the report, along with all copies, to the appraiser for corrections prior to any use whatsoever. Neither our name nor this report may be used in connection with any financing plans which would be classified as a public offering under State or Federal security Laws. copies, Publication, Distribution, Use of Report: possession of this report, or any copy thereof, does not carry with it the right of publication, nor may it be used for other than its iniendeduse. The physical report remains the property of the firm for the use of the client, with the fee being for the analytical services only. This report may not be used for any purpose by any person or corporation other than the client or the party to whom the report is addrLssed. ndditionit copiesmay not be made without the written consent of an officer of the firm, and then only in its entireg. Neither all nor any part of the contents of this report shall be conveyed to the public throughadvertising, public relations effort, news, sales or other media without my prior written consent andapproval of the client. It has been assumed that the client or representative thereol if soliciting funds for his project, hasfurnished to the user of this report comprete prans, speciflcations, surveys and photographs of rand 116 COUNTY COMMISS10NERS ASSOCIATES, INC and improvements, along with all other information which might be deemed necessary to conectly analyze and appraise the subject property. Authentic Copies: Any copy that does not have original signatures of the appraiser is unauthorized and may have been altered and, therefore, is considered invalid. Testimony, Consultation, Gompletion of Contract for Appraisal Services: A contract for appraisal, consultation or analytical services is fulfilled and the total fee payable upon completion of the report. The appraisers or those assisting in the preparation of the report will not be asked or required to give testimony in court or hearing because of having made the appraisal in full or in part, nor will they be asked or required to engage in post appraisal consultation with client or third parties except under separate and special anangement and at an additional fee. Any subsequent copies of this appraisal report will be fumished on a cost plus expenses basis, to be negotiated at the time of request. Limit of Liability: Liability of the firm and the associates is limited to the fee collected for preparation of the appraisal. There is no accountability or liability to any third party. Fee: The fee for this appraisal or study is for the service rendered, and not for time spent on the physical report. The acceptance of the report by the client takes with it the agreement and acknowledgement that the client will pay the negotiated fee, whether said agreement was verbal or written. The fee is in no way contingent on the value estimated. Special Limiting Conditions: The Americans with Disabilities Act became effective January 26, 1992. Not withstanding any discussion of possible readily achievable barrier removable construction items in this report, Cadson, Norris and Associates, has not made a specific compliance survey and analysis of this property to determine whether it is in conformance with the various detailed requirements of the A. D.A. lt is possible that a compliance survey of the property together with a detailed analysis of the requirements of the A.D.A. could reveal that the property is not in compliance with one or more of the requirements of the A.D.A. lf so, this fact could have a negative effect on the value estimated herein. Since Carlson, Nonis and Associates has no specific information relating to this issue, nor is Carlson, Nonis and Associates qualified to make such an assessment, the effect of any possible non compliance with the requirements of the A.D.A. was not considered in estimating the value of the subject property. This analysis is made in conformity with the requirements with the Uniform Standards of Professional Appraisal Practice and the Standards of Professional Conduct of the Appraisal lnstitute. This analysis assumes no site contamination to the subject property. Environmental audits have not been provided for the reader's consideration. lt is assumed that water use permits are in place for the property. Extraordinary Assumptions: Extraordinary assumptions are defined as: "An assumption, directly related to a specific assignment, which, if found to be false, could alter the appraise/s opiniins or conclusions. Extraordinary assumptions pleyme as fact otheNvise uncertain information about physicat, tegal, or economic characteistics of the subiect property; or about conditions extemai to the profierty such as market conditions or trends; or about the integrity of data used in an analysis. An extraordinary assumption may be used in an assignment only if. . lt is required to propedy develop credible opinions and conclusions; . The appraiser has a reasonable basisforthe extraordinary assumption; 117 COUNTY COMMiSSiONERS ASSOCiATES,lNC . Use of the extraordinary assumption results in a credible analysis; and. The appraiser complies with the disclosure requirements set forth in USPAP for extraord i n ary ass u m ptio n s." Please note the following extraordinary assumptions:. An expert soil analysis has not been provided for the preparation of this appraisal. ln the absence of a soil report, it is a specific assumption that the site has adequate soils to support the highest and best use. The analyst is not an expert in area of soils, and would recommend that an expert be consulted.o lt is assumed that there are no hidden or unapparent conditions to the property, soil, or subsoil, which would render them more or less valuable. Subsurface oil, gas or mineral rights were not considered in this report unless otheMise stated. The analyst is not an expert with respect to subsurface conditions, and would recommend that an expert be consulted.. lt is assumed that there are no toxic or hazardous materials either at ground level or subsurface. The analyst is not an expert in the valuation of site contamination, and recommend that an expert be consulted.. The settlement agreement is the defining document as to the number of receiving acres, sending acres and access. 118 COLLiER COUNTY BOARD OF COUNTY COMMISS10NERS CARLSON, NORRiS AND ASSOC:ATES, lNC Section 7-Addenda 119 COLLIER COUNTY BOARD OF COUNTY COMMISSiONERSCARLSON,NORRIS AND ASSOCIATES,INC. Notice to Proceed NOTiCE TO PROCEED PurchasoO(loroumbornlustappearoosll rslalod cor€spondence, Ehlpping popers otrd lovolcesl 1■■■■|■■■■■:Fo,―tr 4500178486 Ш・ 06′09′2017 ―n"・・ Budget MOnit rじ Ⅲm 239252■973は 2392520020 Delrfory Dale: 07図 2017 Colgratulations', you are being award the appraisal assignment for the HHH Ranch proJect. Thls is your notice to proceed, We will be having a site visit for this parcel 6/16/2016 at 9:00am. The swamp buggy Will only accommodate 4 people. I will need one lndivldual from your flrm to meet me at the subject property. I will have the marketing packet for the HHH Ranch 617312014. Each of you will receive a copy and the agent's contact information. I will forward you all the material I have obtained from the property owners consultant sources. The appralsal report ls due on or before7l8l2077. I need 4 copies of the appraisal report sent to Facilities Management 3335 Tamiami rrail E ste 101 Naples, FL 34112 c/o Roosevelt Leonard. The appraisal reports can be hand delivered to the same addressT/7/2017, Thank you, IlooseYelt Leonard, R/\\LAC Sr. Revierv Appraiser Real Property Managenlelt 3335 TamiaDri Trail Esst Stc. 101 Nnplcs. FL 341 l2 Ph:239252-2621 Vendor書 125129 CARLSO∥IIORRiS A■O ASSOCIATCSlNC 1919 COuRTNEY DR,STE 14 FORT MYERS FL 33901 Please de∥verto:FAC:LIT!ES MANAGEMENT 3335 TAMiAMITRL E,STE 101 NAPLES FL 341125356 120 COLLiER COUNTY BOARD OF COUNTY COMMiSS:ONERSCARLSON,NORRIS AND ASSOC:ATES, iNC Settlement Agreement IN TIIE CIRCUTT COI,IRT OT TIIE TWENTIETII JI'DICIAL CIRCI'TT IN AN FOR COLLIER COIINTY, FLORIDA FRANCIS D. HUSSEY, JR. ard MARY P. HUSSEY, husband ard wifci ard WINCHESTER LAKES CORPOMTION, a Flori& corporation, Plaintifrs, v. CaseNo.; 08-6933.CA Consolidsled with COLLIER COUNTY, a politicol subdivlsioD ofthe Casc No.: 08.6988-CA Sht6 ofEloride; THE HONORABLE CIIARLIE CRIST, Govcmor oftho State ofFlorid8; and thc FLORIDA DBPARTMEM OF COMMUNITY AFFAIRS, Dcfcndants, FLORIDA WLDLIFE FEDEMTION and COLLIER COIJNTY AIJDUBON SOCIETY, INC, loteflenoru, SBAN HUSSEY, Suca6so! Tostce to JOSB LOMBILIO, Trustca and EDUARDO PEREIRO, Trultes, Plaintiffs, v. CaseNo.: 08-7025.CA COLLIER COUNTY, a politioal subdivlsion oftio State ofFloridq THB HONORABLE CIIARLIE CRIST, Oovemor ofthe State of Floddal and thc FLORIDA DBPARTMENT OF COMMUNITY AFFAIRS, Defendanb. FLORIDA WILDLIFE FBDERATION atd COLLIER COUNTY AUDT'BON SOCIETY, INC. InteryeDors. 121 COLL:ER COUNTY BOARD CARLSON, NORRiS OF COuNTY COMMiSSiONERSAND ASSOCiATES, lNC SETTuDMENT ACREEMENr THIS SEttLEMEN「ACREEMENT is madO and ontcted lnto thls tυ 瓢 OF Fcbコ Ш%2013,by ttd“、ぃn Franois D II―y・ J■,M叫ソPat Humy,sean HussOy・ Ttttee,MIk●B。口,cO.Tn゛ ec OFlhc sR 346 Land TrusL Ronald L,Brown.CO_ T國 鵬1∞ofthe SR 846 Land Tut,JOseph BOmess PIcsidcnt oFWInchOstcr LLkes,Ino" Lnd IIIIH hv"ments・ LP cthe“OWncr)and collicr COunty・ FloJda.8 POlitlcal subdiviSon oflbc Sta"FloHda lthO``COun●') WIIEREAS, ne PhhJ鶴 = FRANCIs D. HUSsE■ JR, and MARY P HUSSE、h"band and ttFc,lthe“H"scy」)●re thc Fce ownぃ 。f●●●●In tal prope, 俯 ●hS∞|∞s29 and 32 oFthc area"慟 hc。∥il=Counv comlnKInly rcFcrrcd to as lhc NOlth Bell●Ntcnde cth●``HHH ttr);atld Ⅷ越 AS, the plalnlitt wINCHESTER LAKES CoRPORAII10N ぐΨ lnChCSter Lakeゞ りhOldg a lcnschO!d intctt ln the HHH Ranch and hOlds cOntractual igh、tO subsurFacc mnOnls m●ludlng the undcrground rook and a cOntncmal“ght tO gh●●in the pml●d3ofШ sacton;and WHEREAS,thc Husscys and Winoh“ler Lakes hnv●61cd a claln 38輸 Bt C。lticr County Ш der F10rlda Statulcs§70.001 1thc“B颯 節 闘 s Acrり ,and havc ds●61●d oldm ch」lenging tlle∞nstltutiOnality oF thc Rwal Frln30 Amcndmenls p¨uant io Alticlo X Scc.61al oFulo F10dda COnstlhlloni and WIIBREAS,lhe ttes ttsh h setuc tts alsput..n tlle tenn,and l●ndit10m set Forlb be10■ 122 COLLIER COUNTY BOARD OF COuNTY COMMiSS10NERS CARLSON, NORRIS AND ASSOCiATES, lNC I9ITNESSETH! NOw' TIIEREFORE, in corNldelation ofTen DoIaIs ($10.00) and otler good atld valuable coEidoratlon excharged qnongst the p{ti.s, srd h coDsidelatiorl of th6 covenant8 e4ntdrcd hcr.lr, tho parllc.s age€ as follows: l. hcorporstloD by referclco. All of fio sboyo RECITALS arc truo sfld coficot ond arc hergby axprqrsly itrcorpoBted borlit by rcforcdoe as lf s6t forth fully bclow. 2, Nalurc of ttl! SofiteEanl, Thfu Set emcnt Agre4ment iovolves an oxchange of development betwr€tr two large parrels located vdthin the Rulsl FriDgc Mlxed Use Dishict (RPMUD) of Collie! County, The first conponeot changes tbe designaHon of 578 asres of that land kno$a as tho .,Husscy lrnds,, ffom S€nding to Reroiving Lands. Tho se.ond component oh0ng€s the deslgnation of 57g aores of ttEt land hrowr as the "SR 846 Lands', ftom Rec€lving to Sending lrnds, By this oxchaoge, thE balEtrcr of dovelopmcot rights within thc Rural Fringe Mixe.d U6e Dstrict remaln! substantially lhe same. Addidonsl c{nsid€ratioEs ate datailed below. The Hus,●v LBlld8 3 Thc Hussey Lands ate g"Ы cally dOplcled in Bxhiblt A,and∽mpHsO a total oF l,■o8●res mes.lands arc localcd lvlttn thO Rml FringO M破 ed Use Dittct and"e all curently dcsittated as Sending LIInds Ettbit A appro烙 Inatcly dopicts hOw thc HL3scy珈 ds atO tO be dlvlded勧 ●578 acres nOrul of thc boundtty∥nO哺 ∥b● cha・ tgedお m Scndlng to Rcciving Landら and Col∥●=Comty働 1l amcnd thc Futuc Land usO Map dOsignagon oFalese 573 aorcs accOrdingly E皿 blt B contains thc lcgd dcs●●p10n or thes。578 acrs,wluch shall dolne and cOntrol w彊 oh:atld3 have been rCd"18nated es Rcccl■tt8 Lands, 7 he relnttllmg 523 nc=o30F alo Hussey Lallds椰 ∥ rOnlatn Sendlng Lalld9 7hc carly enけ TDR bonus dcnsi,c"dm sh.H be extcndcd For 臓 (3)yOarS For thosc Sendlng Lands anor approval by●e COurt Of遍 s Agrccmcnt,or 123 COLLIER CA COUNTY BOARDRLSON,NORRIS MISS10NERS ,INC. such othcr datc as may bo extended generally for olher RFMUD Sending lands, whicheva ls the later dato. 4, Within 180 clays following the effectlve data of this Setilement Agrccment the Husseys shall deed to the county one hundred and eighty (lg0) feet of rlght'of-way for the futurc wilson Boulevard Extenslon @lackbum Road) along the southern property line of the HHH Ranoh. The dedicated land Is dcpicted on Exhibit c, and comprises approximately 22.318 acres, The Owncr wlll recaive $i5J95 in road inpact feo credits for thls dedlcation, valued at $2,500 per acre. These mad impact credlts shall tnure to the benefit of tho Hussey Lands, and *ill run ln p€rpetuity. No furtha consideration will ba due io tho Hussays for this dedication, irrespcctive of whcther thc Impact Fcc Crtdits are or can be utilized in whole or in part. Tho right of uay and stormwater parc8ls will be hansfened to the County in fee simplc, by stahrtory warranty deed, subject to easements and reservations of record. Thc County shall bo ruponslble for paylng lho costs of any title work and seorches, and the Hussoys shall be mqponsible for all costs lncuned ln promptly romoving or curing all liens, encumbrances or deficiencies rcvealed in any title wort<, following which tho Hussoys wilt provide the Office of the County Attomey with ur oxecuted deed, suitablc for recording. Upon receip! thc county at its cost will rceord the deed in the Public Records of the county. Tho Hussoys will bc permitted acc€ss outo thc frrture wlson Boulevard Bxtension for resldential and agrioultural uses, with at least two tie.in locations tbat pcrmit loft hms in. Tho Husseys may bo permitted sccees ontio the future wlson Boulevard Extcnsion for thc hauliog of oxcavatrd materials, which access will be subject to thc condltions of any excavation permits or condilional we that may bo obtained, The Hussoys' eutltlements to density and rDRs shall inoludo the arca dedicated to thc county ldentified in Exhibit c. 5. The HIIH Ransh lands sh.lr be subject to rhe prcservation and Native vegetatlon Retention standards within ccME policles 6,1.2 and 6.1.i based upon the oxlsting nativo vogetation as depicted by a FLUCCS Map, urtrich Map shall be prepared by the Husseys, subject to approval by the county. ThIs Map ls to be preparcd and pressnted to lhe county for review withln lg0 days of the effective date of thls 124 COLLIER COUNTY BOARD OF COUNTY COMMiSS10NERS CARLSON, NORRiS AND ASSOCiATES, lNC AFmcnt ttC pancs ttn cOOpente na1 0ne anotherto enstt a mutually agecablc FLUCCS Map TLc SR 8,16 Lud! 6. The SR 846 lrndr 8re graphlcally dcploted i, Exhib[ D, atrd comldsc a tolal of 2,576 scns. Thssc laDds aft locat.d wiriln lho Rual FdDge Mlxcd Us! Dlstrlct ard ale cunrnily dcslgated as Recciving lands. As detailed b€lo% 578 acres oflhe SR 846 Londs will bc corvercd ftom Rccclvlng to Sendbg Iad!, lo odrr to mhor thc j7g acns of Husscy Lands bcing convcrtcd iiom Srding io Rccclvhg Lads, The trmainlng 1,998 scrcs shall reealn dcsiSn8tcd as Rcc6ivinS lands. Exhibit E sols forth the Lcgal Doscriptlon ofthe SR 846 Iands. 7. Bxhlbit D arEoximatcly dopicts the SR 846 lrnds to ba dlvidsd lnto Sgnding ald R.{alvl.ng lands. Th€ 578 Barcs wfilch aIe dcnotld by tha sppropdBt6 ha.$h Eark wlll bc rLangcd ftom X,ccaiving f&ds to Sending Lanrls, and Colllcr County wilt 0rncnd lhe Futuc Lsnd Usc Map drslgnatiotr of thcse 5?E acres accordlngly. Thcre ls g€cently ao Irgal Drscription for thasc lropos.d Re.biving and Serdbg lrnds, At thc fiEls the SR 846 Lasds 8te devrloped, or }i,hen TDR.ights ars sovored, thc ownff oflhc SR 846 lands ney moko mlnor changas to the d.plgtcd arerr, Ed at such time 8 Iagsl Descrtp{on doEDlng fic 578 acre Sending tssct and thc 1,998 acrcs of Receiviug trac(s) shalt bo prepwd ond forwardcd lo rhe County. Tho County Manrgcr o! his designce is aulhorizcd to arlmlnlsuratiwly dot$rnin! whclhcr tho chang!,r io lhc dcpigM sroas @nstitute I mlnor chaDgc, widr any objcction subj.ct to o dc novo .rviow by tho Boatd of Corrty Comoftslotrcrs. Atry major chatrges to tho dcplctei arcas must bc approvcd by majority votr ofthe Board ofcounty Coruni$lonels. 8. Thc SR 846 Irn& rnay be dwcloped in ac-cotdaaco wilh the provlcioos he..in or the R?MU Dstrlct gorerally ar may be qmcndc.d (ot . c.mbinalion thcrcof orl reparate pa!o€ls). One road may be provided ln tho Sendlng Ian& to f6clllt{t4 a c-omeotion to Irnmokalcc Road. The crrly 6nhy mR bonus dgnsity cledlt shall be 125 COuNTY COMMiSSiONERS ASSOCiATES,lNC rxtcnded for tlree (3) y.nrs for the Serding Lands after spprcval by tho Coufl ofrhls Agroqncnt or such otllet dato as may be extcEded gatrcmlly for other RtrMUD S.odLug Lsads rfilchovcr is tho lot6 datc. A Codidonal Uso for .srthndning and extssotior rras prcviollsly approved for lhis property (Rosolutton No. 2012-15), a portioo of whlch ls clunged fiom RGcdving to Sendhg Lalds by ihis Agreement. EarthmtDlng atld exbaqtion ue no longor pennltted on SR 846 Scndiry Lsn& ard m sDctrdhent of Re,lolution No, 201215 is nec-€$ary to enforce tHs prohibition on e.arthmtntDg aqd oxtractioB on ths SR 846 Serdilg Lelds. Nothing in rhls parrgmph shall confer aoy mlolng rightr on orc Hussoy lands. L.rrl M.tt rs 9. No!.rdELllot of hbltty. It Is understood and agrEcd that this Settlcmort Agre€meat is thg conlromise of dhlutld clalns, aod lhsl nothing conhhed hercln sLall b€ constlwd as an admhsion of liability, fault or rspoBib lty a! to sny olalms or allega(onc ou the pa( ofaoy pady, vhich liabllity is cxprcssly denled. 10. Mutusl ceroral Rclesrc, Eoch ofthe partles slgnlng htow, on behatfof lhcmsolves, their formcr and p.esent employ€as, agcnts, offic€rs, dirrstorr, setyar s, reprcscnlativca, inswers, srsignr and prcdc.cessors and succ€,esors in lnt9l93t, hcreby rel€ssos ard forevq dlschatges each and cvory otiaa party sigoiog bclow, togcther with their former and prcsent employeos, sgents, offic€$, dlr€ctors, scfvarrt!, leprcseDtativas, hsurerg, ssrigN, and predecessors and rucc€ssors ln lrtelcst, tom atry ald all olaims of wbltcver Eatule or desodption, whioh rolotg to, orlso froDl, or could heve bccn alteged, la the aboy6 coplioned lawsuits. ll. Volunl.ry ErecudoE. This Agtement contsins the entlre agrerment beMeen the partics hcreto trg.rding tho rcsolutiotr of their dispules. The parties aoknowledgo thst this Agreamcnt h fiecly and volunlarily €xgouted anGr fiey hsve begn apprls€d ofall rclevsnl information conceming the Agreemont arld tlEt ftey havc had lhe opportuli9 to oonsult with and receivc the advlca of counsel in e edog lnto thh 126| COLLIER CA NTY N,N Agir.mcnt, IIl executlru thls Ag,E.mc!t, the Fnles acknowtedge that they bav6 Dot rcllei on any inducamcDt!, prcmises, or tlpialcnlatioos other thatr ogc contailcd hcroln. This Agre.mont is thc product of lolturl ncgotiatio[ 0!d no doubtful or 8mblguous provision that may oxlst in lhis Agreomrnt ls to be construed agoir3l oty of tho padics based upon o clalrn that onc of0re partles dr8ftad ttic Agr&m6dt, or lhat thc hngusgc ofthc Agrcrm.nt wrE intend.d io favo. onc oftho partios. 12. Goveml_ug lrw, Tbls Agr€tEcnt sLdl ba d..mcd to havc b.cn ftsde sid to bo perfonned, and shall bo lnterDrcM, co!3tlued and eaforc!4 in accordarca with ltc lavr oftha Strto ofPlorida 13. Multlple Courterprrh. Thls Agremed may bo oxecuM by tho parti.s In identiqal countcrparts, i{Nci, taken tagelhgr, shEll constituts a corDpleto original, 14. Modlflc.rtlo!!. This Agrcam€nt cannot br arnendld, modiE€d or amplilied cxcapt by agrcrrreDt ald wdflen documc , which ts sigtred by all parties hlrlto. No orsl shtcment msde by 0l1y peNon shsll opemte t0 modl& thtr Ag€€ment in any maoa6 or othcrwise a.6.ct its tqmr sd ptoviEloru. 15. $evereblllty. Ill th6 cy.nt that alry term or provisio! ofthic Age€mrnt is de€mcd unoilforccablo o. unlawfrrl for stry r€ason, lhc tlmahdcr of lhe Agecmcnt shall bc deemed cnforceable and ln efrect. 16. EnforcetbUlty Brd Adopttor, This Agrccmeot is effe{tivc ulotr lhe date it is approvc.d by tho Board of Couqty Commisslonrm of Collier Coult , Flotftlo. Thls Agrccmed ls subje4t to approvsl by thc Coud. Upol appovel by the Court and the €xllrafion of tho time within whlch for any third pMics to apped, o. the upholding of I s ssttlemetrt with fuality, ifso apperled, thir astion will bc dirotssfd vlth prejudicc. 17, Nor-w8lvcr. Thc fallure of cithe! party to ctrforcc Bt ary tim! sny ofthe provlsionr ofthis Agre.cment shdl not colstltuto a walvei ofsny 8uch provlsions. ONERS 127 COLLIER COUNTY BOARD OF COuNTY COMMISSiONERS CARLSON, NORRiS AND ASSOCiATES, INC 18, Au:LoHり tO Bllld.ne si四 “ es heretO c3●hw"耐 and rcprsentthat they have thc mquisite au■嶺,tO Cnter lntO ttls Ag"m●nt On bch」FoFthc respoは ve pary R●mauldcr ofPagc htentionally tt BIank Simano Pagesand Dttbl、to Fo10_ 128 COLLIER CA OF COUNTY COMMISS10NERS AND ASSOCIATES, INC. l-17.13 HNs, SA- Rl:V l.3l.ll.lV&rK & 2-l -13 d\. IN WITNESS WHEREOF, the parties hereto have caused thisAgreemenl to be executed by their appropriate offrcials, as of the date first above written. BOARD OF COMMISS10NERS DWIGHT E.BROCK)Clerk COLLIER :FLORIDA Michael J. ISoran, Co-'liustec SR 846 Land Trust Ronald L. Brorvn, Co-Trustee SR 846 Land Trusl 'inchester Lakes, Ine, oseph Bonncss, Prcsident By: HHH Investments/orp. I., GP Francis D. Hussey, J/President 129 HHH Investmenls, LP COLLIER COUNTY BOARD CARLSON, NORRIS OF COUNTY COMMISS10NERSAND ASSOCIATES,INC. l・ 17・ 13 Hu33り SA―REVl‐3:‐13,V口 K“2・ l・ :3`w STATE OF FLORIDA COUNTY OF COLLIER 恥bma」錫譜 ザ蹴 i器 Isど '躙 l罵 械:胤 SE≦濡 hだ produced - STATE OF FLORIDA COUNTY OF COLLIER has produced YAIIRA,VECA IIot●fy P,lb:l●・611tl o'F:olldl My Collm欧 ,“es Jan 22,20: COmm:,310n′ =〔 49019 STATじ 011「LOⅢDA COUNTY OF COLLIER Lbm」撼0器 せ =l躙 ‰聡sttT硝 電誅器脚 :護 瀞輛 has produced VADIRA R VIGA No!●ァ●ib∥|‐s:ate。′Flo「ldュ MI Comm. trptrrs Jaa Zl, Z0l5 Comml$lon , EE 490t9 出摯壇躍型 … へ 130 The forcgoing inslrumenl was acknowledged beforc me lhis February, 2013, by Francis D, Hussey, Jr., ′■銭" COLLIER COUNTY BOARDCARLSON,NORRIS OF COUNTY COMMIAND ASSOCIATES,ERS :・ :ア 13H",り SA‐REV i●:‐13,V“Kと 2■‐13 dw STATE OF FLORIDA COUNTY OF COlン LIER Febm∬斎:習 犠総]I電 :避 lま 躙耀雷掘誤臀Lttl面 需:‰ltthJf oFsuch trust,who is pcrsonaly knolvn to lnc____or WhO has produccd as identification. Notary Public PHnt Namc: tvty comm i sii6i'El piGJ STATE OF FLORIDA COUNTY OF COLLIER Thc forcgohlg instrument was acmowiedged beForc me this_day OF Fcbnlary,2013,by Ronald L Brown,as Co‐Tmstec orthc sR 846 Land Tmst,On behalr of such trust, rvho is personally known to me _ or who has produced as identification. Notary Public My Conttnission Expircs:________ STATE OF FLORIDA COUNTY OF COLLIER The foregdng in"ntrneは was acknolvledgcd before me this■ね day of 鷲器∬Ibilll慨 :ギ :Rttl鵠 ぶ設喘∫:ξ 剛 ∥i)鳳 :諸 L鷺 'ゞ 野‰l。 has produced|Public ht Name:年に 131 COLLIER COUNTY BOARD CARLSON, NORRIS OF COUNTY COMMISS10NERS AND ASSOCIATES, INC. lN LTNESS WLIEREOF, the pnrties hercto have causcd this Agrecnrcnt to be executed by their appropriate oflicials, as ofthe date first above rvritten. Attcst: DWIGHT E BROCK,Clcrk , Dcputl,Clcrk Mary Pat Husscy Sean Hussey,'lhrstee llHH Investntents, LP By: HHH lnvestnrcnts Corp. I., GP Francis D. Hussey, Jr., President BOARD OF COUNTY COMヽ 4iSS10NERS COLLIER COUNTヽ 「LORDA G【10RGIA A IIILIン ER,ESQ CHA∥てヽ〃OMAN Winchesler Lakes, Inc. Joseph Bonness, Presidenl ndnhlA l. Brown, Collirsree 132 Francis D. Hussey, Jr. SIt 846 Lalld Trust OF COUNTY COMM:SSiONERS AND ASSOCiATES,:NC 11,■,IIt,,り SA‐REV l・ 31・ l,,ヽ alК ^211,`w STATE OF FLORlDA COUNTY OF COLLIER Ti爛 1淵 麟憔驚難甲∬鷺ギ鑽 ■ Gcnerat Parlner of HHH Investmcnls L.P., a Delawarc limited partnership aulhorized lo do businels i[ lhe state of Florida, on behalf of such limlted pannership, who ispersondlklt6編 お語 /。r wllo has pЮ 高耐 os idenlification. 11 133 COL OFAND ISSIONERS INC. STAIE OF「LORIDA COLINTY OF COLLIER The Fore30ing in゛ nlment was acknolvletlged beFore nte tllis_7`day Of Fcbnlary,20:3,by)И icllae!J BOratl,as Co‐Tnistee ortile sR 846 Land Trust,o:l bcllalr oF騨 ぬtnl゛ 、口Юおper,pnJけ k■OIV,Ю me_or mЮ haspr“uced as idcntiticatio:1 pdntName. l;"ny' f. fu.I^lul My Contmissiorr Expiros: la.? Jr,:or,{ STATE OF FLORIDA COUNTY OF COLLIER The bre30ing inttrument was ack■olv:edrd befOre metllis 7`dγ of Febluary,2013,by Ronald L Brown,as Co―TRlStCC ortile sR 846 Lalld TRISt,01ヽ bellalr of such lnrsl, rvho is perqonally knorvn to nle _ or who has produced as identificntion. 獣鶏l∥:に こ`te+′、″_に ル´コ My Conl■lssial Ex口 res:∠奎与 !Lμ ''ソA STA■OF FLORIDA COIINTY OF COLLIER The foregoing instrtllllellt was acknOwled8ed beFoFe nle tllis_day Of Febmary,2013,by Josep1l Bo■ness,as President ofヽ Vi:ichestcr Lakes,Inc,a Flolda CO■DOration,on bellalfofstich corpo「ation,、vhO is PersOllally know:1:。:ne____or、|・ llo has produced _,-ns identification. ilotary-Public Print Nante:-- Ir{y Conrrnissiorr Expi res:--App“ 九rrt・J 134 COLLIER COUNTY BOARDCARLSON,NORRIS OF COUNTY COMMISSIONERS AND ASSOCIATES, INC. EXHIBIT A 135 COLLIER COUNTY BOARD OF COUNTY COMMISS10NERSCARLSON,NORRIS AND ASSOCIATES, INC. EXHBIT B_HHH Ranch k∝ling Lands l. WItt Section 29,Township 49,Lnge2■pare露 00328500002 峰鮒 僻 凛∥蠅硼嚇鮮ξ候鶉 SW1/4,SE 174 0F SW1/40FSW 1/4,E lF2 0F SW ir4 0F SW 1/4 0F SE174, 00331320000 29 49 27 SE1/4 0F SE1/4 0FNE174 00330400002 294927E1/2 0PSW1/4 0FSW1/4 0F NE1/4 00320040003 294927E1/2 0F SE1/4 0F SE1/4 0FNW1/4+w1/2 0FSW1/4 0F SWir4 0F NE1/4 00329240004 2949 27 Wir2 0F SWi/4 0FSW1/4 0F SE1/45 AC.OR 1342 P0 1129 00330040008 29 49 27 Elr2 0F SE1/4 0F SE1/4 0FSW1/45 AC,OR 1342 P0 969‐970 2, The Nonem 279 8CreS OFSecton 32,Towship 49 Sout Range27 East 136 COLLiER COuNTY BOARD OF COuNTY COMM:SSiONERS CARLSON, NORRIS AND ASSOCiATES,lNC EXHIBIT B―HIIH Ranch Sendlng Lan“ L 賄酬f野 憮蹴』憮躙篤肥暉酬器路搬磁 2. WttS∝lon 33,Tonhlp49SouL L呼 27 Enst,patcel鶴 00344240005 33 4927 Wi/2 0F S172 0F S1/20FN:/20F N1/2 0FNW174 00343760007 334927W1/2 0PN1/20FN1720FS1/2 0FN1/20FNW1/4 00345230006 33492,W172 0F S1/20F N1/2 0FS1/2 0FN1/20FNW1/4,LESS W 35FT 003430801104 334927W172 0F N1/2 0FS1/2 0F S1/2 0F N1/20FNW1/4 LESS W 35` 00342840009 334927W1/2 0F S172 0F S1/2 0F S172 0FN1/20FNW1/4 LESS W 3SFT 00344040001 334927 Wi/2 0F N1/20FNl120FNl″OF S1/2 0FNW174,LESS W 35F「 00344960000 334927E1/2 0F N1/20FN:/2 0F S1/20F N1/20FNWl′t B172 0F Si72 0FSi12 0FN1/2 0FNl″OF NW1/4 LESS E 35 Fr 00342080005 334927N1/2 0FS1/2 0FS1/2 0FNE1/40FNW14 s1/2 0F N1/2 0FS1/2 0F NE174 0FNW1/4,LESS E 35町 00344760006 334927E1/2 0F S1/2 0F Si/2 0FSi″OF N1/20FNW1/4,N1/2 0FN1/20F SE174 0FNW1/4,N:/2 0F S172 0FN1/2 0F SE1/40FNWi/4 LttS E 35r 00344560002 334927E1/2 0F S172 0F S1/20F N1/2 0FS!/20FNW1/4,LESS E 35FT 00345240004 334927E1/2 0FN172 0FN1/2 oF S1/2 0F S172 0F NW1/4 00342200005 334927S172 0F Sl″OF SWi/40FNW:/4 LESS S&w35FT 137 COLLiER COUNTY BOARD OF COUNTY COMMiSS10NERSCARLSON, NORRIS AND ASSOCiATES,lNC 00342760008 334927E1/20FS1720PS1720FS1/20F NWi/4 LESS B 35FT&S35FT 00345400006 諦1協 淵鶏月λttК 盛1ゞ 当:W∬T°P S 28耐 O M2oFNEИ 00342120004 334927N1/2 0F N1/2 0F NE1/4 0FSW1/4 LESS N+E50FT 00342920000 334927S172 0FN1/20F NW1/4 0FSW1/4,LESS W 3SFr 00344520000 334927W1/2 0F N1/20FN1/2 0F S1/2 0FN1/2 0FSW1/4LESS W 35` 00342600003 334927W1/2 0FS1/20PN1720FS1/20F N:/2 0FSW1/4 LESS W 35 F「 00344360008 334927E1/2 0F Si/2 0F N1/2 0F S1/2 0F Nl12 0P sw1/4,LttS E 35硼 ET 00344640003 334927E1/2 0F N1/2 0P N1/2 0F S1/2 0F N1/2 0FSW1/4 00343200004 334927W1/2 0F S172 0F S1/2 0F S172 0F N172 0P sw1/4 LESS W 35 FT 00343840008 ∥∬品発1熙 Wぼ ミ‰∬滞鶏胃:=50F「AblD S 50r OR 138 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON, NORRIS AND ASSOCIATES, INC. ‐ 関朧 鍛 ち朧 ‰鮒 °n3ooMd軸 “bザ1明 踊舗淵F悪CONrA雨 耐場l蒲 X8員 ど巌遅ЪR墨 S勁 ゆ A●7Ю 鍵 疇鳴 輸 …… ・7…Er― … 139 OF COuNTY COMMiSSiONERSAND ASSOCIATES, lNC a、 “ 3tamrR!● “P:嚢 A覺 摯諭塩l 140 EXhib1 0 0,い “"b3響 ■¨¨鮨 H“・ 姉・油勁 :■71'蜘 ―l。鮨 露調闘凛議議:議 誠 路出■Ⅲ “= COUNTY COMMISSIONERS A SS O CIAttES, lNC. EXHIB!Tピ E" LEOAL DESCRi「F10N SR 346 LANDS:141 COLLi INTY COMMiSS10NERS SOCiATES, lNC ZONING tDcor t 5.!91? 2rt-O. itlrdGrl.|t ro.rkl Dirrhtr A 8od FdCa r,krd.UrE ltitttct (l r obtr*rl- 2, RFMU recelvlng lends. a Outslde rural vlllag€s. (ll iBfrc txamptlm- tErpt rr !p..Hc.Hy provtdGd ltarth CirO t o.tvhg trn& era ooly rl.li( to thc pro{ido,n oter!!Sdel,!! C. (2lH.nnxllnMrt. (r, gi!. dtadtt. lhc b.$ l.ffil d.'!l, .Uolrbac $hhh t lil, ,talu$t Lrdr - Ir I lnlt pGr 5lro$ lcrs (0.2 arrltlf llnlB ecr -rr] or, torltE k!.t mnrii!fltf{ta hfr or rartrt ln lrirt n<. a5 ollme 22,lglrlr, i uih prr bt oa F|td. (bl ArdrbrC d6ft t ,Udtlor|I O Ly Afioftd tirorth ttt IDtr p,!{6r, Oltld. o, ,rr.l Iar, ltE marftnm dcrlttr.chLo.bl. lo lf t Lollha lr.d. rhror{h lotalh3mdtDa t .i. Otft ts I dHlh8 t'l[ prr trt. .l Cfi3ffil flq.trcd, .- lollol|l4 porfdors: il c..rtr.l *.tar tnd !.lt' thrlt ta rdcndad to thr pol.Ga. ._ ll fb. tn.dr llt ht rhc ombh lor . dlltc.f tlly dafachad d cktlrltblx.a. $ ntc rlBtana a.dormot {!.I bc hcat d or th. rlt ro ri to prr,yldr to thc trttbalr drCr.! p..crkrbht prorcdlon br dri.d rpaahr hatt t irlrrYrnoo o, thc trlhcn qoalny n$v. vl*do.!; 6.o.dnAf lO rdlHrt [ahral larar[lb||r Cr elltor[lloo rrcar oo dF.si -trdo|ol.lr(,, trd, crr.rho, mtlnaasfrr q .nh.E mcit of lldlk cqrldo.r. bl Hldlrlun ProFct Slrc. ,lr ll{iirnum prol..r rlr! .Gqrt.!d lo ordcr to rlrallt treiararrq{ dht ur{r b aO col!firp$r xrcr cl toEriaml tn0a{tdtrr1 tn order to rcdttc thc fiallhood ol tlmrt to ffc aid Dmfaltv t an. t opkrt rlorit| ot h{rnkrt €rr.i any rLdotltlrlt apprwd rrda. ttc proylrbnt ot t t& ..ctbn rh.l damoBtrat€ lhrl adaquic armrlclxt lctpl.ld r! .rld dlrrstcf prerintion araa$r€t lilvc bc"n t*cr bf, at r n*tlttrumt 0 D!*nllB (,fltrurky trdltht r(hoolt or othar l[.rlctili(r to rcrva $ rtorm ,E1.'' ll loc.tad out{dc of l'tat tlllt ma, ctscdallc€ hud.tlon d(rllB I C.tcgory I o{ uo.r. tlorrtl cvlnt. tiirle th. n €d lo utlL. srfi rhdu,t f, l t dctrm$ncd on r ca!.-tfot br.E, a.!ar wl{ci tlt 3lralpulr€ lo hu$atbo drl'llr3 n dr ltorG cv.nit ao ldantllLd on ttr S€i. hfa, and Ovtrb|id turtt ftqr lturk na (sr(xu, ll.p lor CoflGr County, Il fyafurtir| htpactJ oo cfcl.tbll lout i. i, .ny, and rofl ot slth llE Colhr Counfy tml,|rncy M3litr n| tfatrto derclo0 an tnEt!.rlc, P'apxldo€$ Phn to MtdG prolritlol!' tor $orm lhlt . tpacc, a pl r lo( olmrtcfty 6v.cu.lkx\ trd ofhcr 142 COLLi UNTY ON,N iSSIONERS INC aOCnn.{n el!t-t7 p.ovkbnr tJi.t rul b€ dc.ltEd approprtrt. .rld nc(lrtrry io mltf,.t. .!rh r,oacr ld d&.rrrr. lil Wo.thB wtth lhc Flo[H. I|vlrbn ot fo.stry, ColL. County InrerEeocv Maruxn nt ri.fi, xtd lhc m&tr!E.r oI ,ry -Fo.to. ntarby publc h.dr, to dcvrho r llltdirr ?.tvtlltho andMliarbn llrn llEt iilt .ldrl(G tll. ftrnDod ofthr..l to [& lDd prqFcny from wXd$rrt ntl| ftfi rhal ddrlrr, X r lr{dlnum: F.orccr grtxttrtl d.ttry thc u:a ot mrtrri.b.nd hqtlon of ttuCrlfff to.! to rr4l(e f,$dlra thE.t; llrlb,G|k rrd hrfiqr; lrrter icatur!$ j]d, th! dltnalr for IfErrrfted bqrnlng Ondt oarit or ncrrby h nd* L. Adt!'ilomldri*, AIotGd lhrorth (,th!, D.{rdtv !o.rur€s. Once ra.ldtt ot on (11 tlttt pcf rctf t, adri.v.d throt{fi thc .6€ ot tOi qrdltl arld IUt ioi{r C.rdt, addnbrd dar.tly lrl.y bc ichlrlsd .i ,oflsflrl al A d.rdt, bofiot olo,t lrit p.r acrc rhall b€ .[o{ed br lha preervrthn ofrddl$oorl n.llva rrartrtloi .r.et lonh h Si.tion ll!5J!Z t. r. ol lh. codr. -- b) A finrtt, b6lur ot 0_l udts pe, ...r rhrlt tr rllserd lo. prorccr, thrt hrorFrltc tlprc tddthr.l rrdrt& n$tha{lon trcaruiEt ral lortt hS!19!.i,Q1,Q7 ;. a. b- ot rtlc Cod!. (31Alof,.H.l*6. (r) Ut . irnr*tcd t! ol nlrlt- ftc,o]ordog o!€s .ll pc.nltt€d rt ot .i;tt, or a, il3la lo.roal to Flllttla t tarl L t.hrhr.l rc{vl ct Lrl,dktl. hr not tr ird ro: Crop,atgr$ ho.thtfirc; trok fid |r.n p.odElloo; ,onarfrn armr; rrrrc(hS r.ftHrB;bc.Mt; pouitry |rtd arf ,rgdscdoe; rdf proiircrioo; Ivcdod rrlrtrt" .nd .q{aculiurc ftr nrfvc rpc(lcr sut{cct to th! Sl.tr ol fbfir firlr rndItidH. Coilc rtlon b.n'rl5ilon FrmlG. -. l, sln&.famf, ,rtihnrbl tHlrl. uiafr. _. m, Multi-tadly rclEritht fiurtfit, It drlt rhf b qnpkvcd, iv. lu.al yl{.l , $brccl io fhc p(orlrloor trr torli gnd!, s€cr;on 2.o }.il! f2.b. h.l6*. v. lroflnto.a* l|,Llt3 .rld ottr. twc$ of 3tdf houd,E .r m.f be h.id.ntal to, tnd ln srpCort Df. aoitttntbn inr' yL f.dy clrc f.(fitt$ I rsl par 5 ..rrr .nd tdrcct to !€l1!g!l..!lt_(g of rhb Codc. yll, ttrrl houjrB.s mry br tEtdanr.l to, rld h supgort ol satctv rcrvk€ ,rcnnh! rid rraat ld rrtlcr. yr- r..m hbor houtlE In&cd to l0 &rei in tru drgtr locaUooi .l thch llrlltr/ADhr / mtf,. tE i!: f t aU.lfrt snhr Der lcrc; !od b, fruHf.i t/dormto.y: 2f d!i.*tt ultlt! /trdi p.r acre. L Seorll|3 md ilt|truon.l cro+r not to..rEa.d I (.bh/lodgkf ur t pG.5 trost acrc3, OF COUNTY COMM AND ASSOCiATES, 143 COLLiER COUNTY BOARD OF COUNTY COMMiSS10NERS CARLSON, NORRIS AND ASSOCIATES, lNC r0( o,llh.5-t9.1, & nrot. .'..fir| r.'tLar l&nalllcd.r !fimltt.d u!.! h-:CglgILA.LujJ (A) .dd ln .ccordr're wlrh thr povltlorE, Gordirbn .nd ltnl.lloor rct ,orth th.rrkr. d 60l, (oqnc5 oa drlyllf, nlIrt rubF(l to tftG lolbwlrB lbndadr: al Th. mi{.iuln aand!, rlr ba t! iolhwr: l, For tott coort. prqadi orE (rl dw.lhg uolt pet n{c (S} trot! acret, lll For lof (ouEE pnol.(lr rot etlirlnB d.nrtry UGndiB p.odslollr rci forth ln lh. Dfidtt x.thr svrrdn ol th. rLuE, l,lctdiry t eellatdlt tolf <orrrtlr ooc ?Ol (.rdt or fDi &o{..rt& dull bc icqlH p.r R\tr (tl tro{J acrer br th. lld .r!. d&cd .r p.il ol th€ lolt coursc, h(lrditB tha rlrtfiouie aE , rq{h, falftEyr, tracnt, rrld Lket but er(lt,ditt! .rly ir€a dldl.atr.d at conlcrv.tt,rl, qildl Ir pn-l.rb&d rhd rrtai.Ed ln r natural tt.te. A lol (rrat offoi lqrn orfr ur.d to c|ttltlc lolt co{rr! roe{t mty no{ Jro ba ulad to c.thh a 'rtldcotLlatlrtrnS unlt bl Gotl cosrrcs th.l be dcrto€d, co.rltrnted, rrd mrnrgrd ln .c(odirEc wlih lhE Balt M. nr!.mefi Pr.<thcr o, Ar&Aoo htcriEtlooalt 6old *|!rturs P.ot6m, -.. ctc., Ctt, r{. Puillt edllc.lirn.l phr*s |tld lmltrry pLr*r. riii, On rDd t 5 Glolo..tiofl, ruH to rpptc.bL rtitc t.d Hld drntuE pennlBand Co cr Cooity ion.crwiro.irEntd $lc dcvct prnr phn rlvLw p.occdurer Dktctbnd-drfina rnd/o. p.?virurly ch d or dtrturt.d a.G.t 9tallc utllrld .- !lc-, .tG. de. P|ll$ ooen $ra, rld rc('ldlonal uter. w. Prkat! lchook" (b) A..lsrvr.... l- Ac.r..ory u6 as tal lorth lo 5[c t ion : 0l.rj I ol tNr Codr, t. A....ro.V qraa rnd rt *fsr.r rt* a.c e(.GtJory |rld hcidEnt l to rrlar p€mhtrd ar of rlatrt tn th. if}l, dhtlct. li. f,ecre.tlooal lrdhhJ that tg"t a3 ar htelr.l pa.t ot a ,lsMclltltl dnlllogrEn! md bavc bacn ah*.|.ted, rcaLwld, t ( lpp'oitld on r rlr€ dGnlo9.iqtt pla,l or prcfr n.ry cldlt ldoi pl|[ fo.lhrt ffitrrltt Rc<r..tlonal Lclklct may lt[luda, birt trE not t,r'lrad to clubftoG., Eotmunly (cntc. buldll|. tcorlt facttidpr, Fl.]?mundr lld phyft Et. (cl coltdltlond uacr. Ihe fidlo|!,| ur.s r.? pcrmlrlSh ar ton nooal rr.. tubreEt lo th. Bt.ndrrdr .nd proc?durer cti'bXlhcd h_5_C!!I!-!_le]qgJig- L (xI $td !.! f.ld dc{abpmtnt tnd prodllctbq tlrt{6.t to rt.tc fhu dirtlooi' nr pemlra tod CoIkr cour y noi-.rwluxncnt0t rita dGiloprlt.r|l dat rt?trs pfocadurer Okectio,ral -driIilg !,flo. prwloud? .L.rtd or dl*urbcd rltar thaf be utitrGd -. .tc-, cfc. ii. Grol.{ clrc faclitLt.nd ottrer c.rt hordrg trtftihl otll.r rhfi ,.mty cl.c hcilitie r, lubied to. rhair m tloo. artl r.tlo of O.aS- lil, Zoor. rqu.dumt ard totarrcal Btdlnr. rnd r,mah. urer. 144 COLLIER COUNTY BOARD OF COuNTY COMMISSiONERSCARLSON, NORRIS AND ASSOCiATES, lNC IOC oGtr. Clt-17 lv. frdlltLr ,o( lh€ co actbG ftmthr, I.or.!*U. artd fldur$on ol dd 5atta. v. co.trirrfi(! lx*lfhl, $rh .1 pt(Gr oa wortllp, .hldc.r. hc$tlcr, .rmattrLt md toaLl I|d t rtrmd o.!.rlt'llm!. vl. *rn}liar+{. rtl.i{aliaLt rL -- fUA rd. fto.G .tr.lldrl rr{..r Hldltrd h 5..doB :.Jr.oj (cl(l, md lCXl} vg. ln l' m, rtd.lt b.dr ottEr thao thoa! rtthir th. ,tit O, arrltsf .nd cqtcrcta D{d!-trEldllt Cr a, h" t r H, rra. rl h.t- oth.r th.Il thor. slthh thc fGt O, ?iti fl{ni|t md afit .firG lrae poft. a o, Saat,Err'']rn Arr!.nr.rt, Fl lx!|r slrld.fda l.l D.r.h$n tlloa tfli,tf 4lltr: l. Mhlnunr bt [.at I Lr?r. a. lrlnlmrm h $drh: 169 fcll lEt ., ?tc.l (blcldri.l irib;rm: l.loa.G.r tEd rldthr: r) tlt|!-hui, I ilotrutl lct tr!.r a.sq) xUlre tcct. I) ilutfirn l.i .iC|; Oic Aaar. 5l ligdmm lo rldth: httrrie.1.6 aO 'cct,ly, M.rlmefi L{ rrtdd!: 15O frcr, b, m/lltshrnlv ll'lldmlxrtloar{tr:O A.E. ll Ladmun h rr!r: Io{f,, 3l lfiClnrlm h nldrtl 1lo t t. h) ltu*rxrD h ruln: IorE. Il. Mlr{ilrm trl lEqilrlmqft .., at.. ltc. I. H.tlf llr*dlonr .l trh*ea rhxtlr 0 Shllc a..r*t: fs h- t) Mull.r.mh th,r 9orha iid to tE .d 60 ft?l. f0 OdErrttactrrta: 35 hcr aEept br Soltco{rac/cofimniry .tuthqEat wikh nE, t 50 lart lr hcttrr. bl A6aoty auutulr. tat H. cElB lor $reen crlorurcl whkh m.f bi ttr r'tx h.lht l! tha ,rtded lln .t ,r- lv, $ldftm floo. rp.(c rl SttL F.r*r: m |qu|(. llet { frdLhtr{yr 0 Efftdlrl<y: 'ato t{urr. h Il (,rla lcdrE.n: dX, rq.r... *er T) Tm o. Mol! !.droo.t6t t(D rq$.r. ,r!t kl Pl'ldrt. tu .qol'td h!Irq!r! { ot riir CodG- {dl rrndr<.pry. Ar (cqdnd ln-Q!!E!E-r-! oa tih Codc. 145 COLL!ER COuNTY BOARD OF COUNTY COMMiSSiONERS CARLSON, NORRIS AND ASSOCiATES, lNC tOCd t6al9-t, (el Stnr- Ar rcqulrcd h,Sr!r ion s.O6.oO ot rli Codc. (5, Ldv.v.attador i.f€fliiro. Ar rcqulcd h }4l. trq,i 4 (E_,!lO of thir f-od.. (6) tlrl.ar efu rfro. l.l P.oFttr or a0 o, mora tct€r h rla juI provldc r mlolrnrm ol n * GalrtGoo.nt.l*r. Fll,,anh oran.p... lhdrdct rclh/t or pa$lt c rrt e.tion xr.r auch 0t parlr, ,bytroundr, tdl coBrer, wrtr Hrl, hLr, i.tur! trritt .rd othcr ilmlt r oI.n t9aaat. t t$h.Orn 4rtr dr*l rho lrdude arear set atire fo. (o|l3orv.tbn or pratarvrtbn oa arair,a r!|allltBl aid brdr..p. ..ert. kl Oeo Etar bcyood iha Fi.rEter ol tha rltc, rtrrt rlatrt{ar.y. &cpt t,tleas d.dk tad o. dooatld fo( FtHk l,.r!. drtrtrnvt, o$ draat p|rltl! rnd lordlig acar, $a[ not ba Gount.d low.dr rGqr4G{ uraLa ofGr $*e. b. Rural vlllages. rud vtll. ., hctdtir rtlrJ y[lrr, wtrhtn thc tao o,,'l.y bc .pgElred *nl*r lhc borrndrrbr of lftf,, notrhl lrdt, rti,lct lo th. ,oltottB: (ll Alorl.th t *$ l.l Al p.mitr.d u.er H(,ltlft d tr !€ctbn 2.Oj.OrAt-..(3Xrl, v/tto rpralfh.tty ld€l lrhd lr\ .lld .pprovd .r D..t of, . it t^l ylAG[ pUD. (b, OOrDltlOllAL t SES 1 throqh t d 7 ldcrtlfi.d tn rcnbo 2-0t,O&t,2r,(3x(1, *h.n rpc<S.{V k crtllhd h, .,!d rpprovEd .. p.rt of ! il.,nA[ YIIIAGE PTD. (c, AI pe,mlfi€d lod a(r rxry lnrt firttd ln th. C-a Gcncnl (rnxltattld txrtrtct] se.rioA 2.0 LoJ (tl, rut act to dt d.rln $rfr.firar and d.raooi$ lrrrdrdgrl io.ih in rilr Stctho. ldl lrltltth.nd L.hnol{y P.rlr, ,ltl a mrdmum d:e ol t9 .(..'.ra . m8ifn{lll tir! ot 4f ot the toarl rurrl rlla .trt{q tltl.ct to drr diCgo tdddlr$ .nd i.i,rhFn r dxd.dr rct fo.th h.rrtn, th. rpe&.Uc {mdardt .dltlned h-!q!!iq!.l,Q,U& C.7, netarfii md r.duotofv p.* pLnmd udt &Yrlor.f,it da{rkt Eo[tolh€3 md dn.l5ortl.ni rt.nd.rdr, ord turlhc, ruirle.i to th. lolbrty: clc,, clc. (c, fuly othcr u!" dlqlxd by thc Eorrd ol Cour{y Conioflr'ronc. to t r0proprht..nd .omp.r5lc vittth r n rd v}t , (2) t lI ot L.latlbotaood lYpGr. llral rllXi. jEl b. comFtrcd o, !€rtr.l nc€trborhoodr dcslfrEd lo a compact n.tuE rqch th.i I tr!.lo.lq ot rerldqrtbl &IlloFlrtt k wihh onc.qurtar rn[. d . !.fitodrad c.{rhr. Etq., ak_ (!l Alo(atlon ol Lrd t r€r. Spcci0( llocrtlolri lor hnd uler tnchdl.I llrld thl,((nnE rLl ard oahe, ,lod-r.lHertLl rrlci r{lth*i rurd r {rr, stBi tncludr, bri lrc nol lnicd io: L A mtd.rc o, horl'tB typti, tnclrdk€ .tt .fi.d -d.to. de tachcd *Ble L.rily. .! r.t ar rlrltt-fllnfy d.l b. prolftkd rithh, rural t$afa. A rffimom 010.2 u{$ d ftr€ h Lrrd rlrt Jtaf bc aflordaxr hold|. of rhkh .t h t 0.t untt ga, rcrc rll,l bG rdllort. hortrLl. Tht ,l,ralra*t tuI be &rlaEd ro fi to dlrr.r!. rh. AlMetrte rnd rrcrtftrco hqr*tt lrrttr thror8houl thc \r .t r.th.r lhan corx,cnlr{a th{{r ln I rlrBlG locttlon, li. A mlxtut of r.cirrtba.l !aaa, lfiludlru pa*r rrd vtta!! arlror- fl. Cirrk (omilmhr, rr|d othcr h$l!t ionrl us€i. 146 COLLIER COUNTY BOARD OF COuNTY COMMiSSiONERS CARLSON, NORRiS AND ASSOCiATES, lNC LDCon_line 6-19,17 iv. A mlxture oflot sl?es/ with a design that includes more compact development and attached dwelllnS units within nelghborhood cent€G and the vlllage center, and reduced net d€nsltles and lncreasingly larger lot sizes for detached resld entia I dwelllngs generally occurring as dev€lopment extends outward from the vlllage aenter. v. A mlxture of retall, otfice, and services uses. vl. If requ€sted by the Collier County School Board during the pUD and/or DRI revlew process, school sites shall be provided and shall be located to serve a maxlmum number of residential dwelllng unlta wlthin walking dlstance to the schools, subject to the followlng criterla: a) Schools shall be located within or adjacent to the vlllage center; bl A credit toward any appllcable school lmpacrs fees shall be provided based upon an lndepehdent evaluatiory'appralsal ofthe value of the land and/or lmprovements provlded bythe developeq and clSchools shallbe located ln order to mlnlmlz€ busing ofstudents and to colocate schools with publlc facllltles and clvlc structures such as parks, libraries, aommunity centers, publlc squares, greens and civic areas. vli. Wlthln the NBM Overlay, elementary schools shall be accessed by local streets, pedesrrian and blcycle facilitles, and shall be altowed ln and adlac€nt lo the rural vlllage center, provided such local streets provlde adequate accessas needed bythe SchoolBoard, (b) Acreage tlmlt.tlons. l. Ruralvlllages shall be a minimum of 300 acres and a maxlmum of 1,500 acres, exclusive ofthe requlred green belt. ladd,l text N/Al Il. Nelghborhood center - 0.5% ofthe total ru.al vlllage acreage, not to exceed 10 acres, within each nelghborhood aenter. lil. Nelghborhood center Commercial - Not to exceed 40% ofthe nelghborhood cent€r acreage and 8,500 square feet ofgross leasable floor aiea per aare. lv, VlllaSe center - Not to exceed 10/o ofthe total rural vlllage acreage. v. Vlllage center comme rcia I , Not to exceed 30% ofthe village aenter acreate and 10,0m square feet ofSross leasable floorarea peracre, vi. flesearch and Technology parks limlted to a mlnlm!m slze of 19 acres and a maxlmum siue ot4%ofthe total ruralvlllage acreage. vii. Clvic Uses and Public Parks - Minimum of 10% ofthe total ruralvlllage acreage, (3)Denslty. A rural vlllage shall have a minimum denslty of 2,0 units pergross acre and a maxlmum denslty of3.O un,ts pergross acre, exceptthatthe mlnimum densltv withln a N8MO rural vlllage shall be 1.5 unlts per Sross acre. Those densities shalt be achieved as follows: (a) gase denslty. A base dehstty of 0.2 dwelllnS unlts per acre (1.0 dwelllng unlts per five acres) for lands within the rural v!llage, and the land area designated as a greenbolt surrounding the rural villa8e, ls granled by right for allocatlon within the desi8nated ru..l villaBe. 147 COLLi NTY N, N oF cAND ONERS I 0C ollllft 5 .t9.1, (b) Mkitmur arlEty, Th! trrfirlrrrn tro.r a6Jty ln r rl'd r,thf! tr A.O !dr, par .cr! outdda of tlE tt0lJ|(, lnd 1.S urflr par |{r! rf,hln ttE lf,Mo, l. For crt YDI .rcdi urad to rclrlcrc tha n{niru.n equhld dcnlty h .nr.l rlllt al. k'lt frfraf, aq!! O.dt rhdl b. gIrnr.d. trr.l y .a.lqrlr ffi mry odv t u$l.ad h rlr.a rH.. rnd 5hrn noa ta .y.b!tc for ute oll..ltr rlr{nirtt nqutrtd ffity lr rd cwd. f,. lhc irrohum drtdtt dEl b. acN*rd th,o$h all, cornun.tbo oltoiOldtr, trrl Yllbat lo.lrr crlalr, rnd fm !o . dt - lc, Mtr!,nurn drndt . nc m.rlmuo gmrt .rnjtr ttb*ld tn I rurd vllg! l, !-ognlt pcr rart. lh! llrrdnum d.l$& fufl ba .dril,r.d lh.or{h rnv ot ih€lolorht clthlr ld co.rH|rlllon or lndlrHurlv: I mt acdlfrj L f lorut Ordlrr; ll. An ddib.El d.ltrltf bofiu3 0,3 snitt p€. ..re b,r ttc .ddtho.l o,caarvlthn ot .|!lh,t r,lattttlor .s rrt brth lo_C!.titjttr 4; iv. Ar .ddtlond dndv Dofilr ol 0.3 rnt',cr rcrc fur .ddldonrt r.tL.d3 mhhatlon !t r€t lorth h.l!!l[!g-! .od/or v, Ao rddlrhnrt &,{ty bonui of G5 unltr Fr rcr! ,!r ll(i ArM.bh o, uort o.r.ridtdia unat. {,1} Oth.r oc;lrn 9.ndrrdt l.l llrnreort tlon Strttm Ocdin, l. rt€ ,tl.|lr xa rat bc de*ftd *{h. ,orml,ur.t htoet, rrlu pahrdly a lrld &*n aid hc!.porl|irf vDaG anc!ru, rqur.., xld (tvk u!.r .' ft{al eoll{r. I. Clch rurd t .ta OJl !e &rvad tt I prin.ry.o.d ryttcm tb.t h l(rcsrlt*t h th. Fta.. ta.lttorhood Ck(uhor, tocd tsrld.idd t c.$ |nd f.rld.n$.t Loog rodr ntry br tdd. Ih primrry ro.G rrtih ttE .ur.l rlat rhai (qorlrt of R|llfd Mtlor Colectorr at I mturl|rrrh .td bGd!.li.d to mcat Co{nry {.nd.{dr .d rh.I bc &dlcrtGd to th. Blbtc, tr. A rur.l t{h.. rlEl iot be rp& by ot anlrhl rc.dmy. lv. kttarcoma(tbn bctirccn ltc nrr|a rtl. .rd dlxr t aa{alogit.|tl r rhall ba riqulcd. v. tf€lhho.hood+ i.lhto.tood c.it..t, rd thc rlLtr Gtllit rrl.H br cqrtEclcd throi{h l€l .rd tqth(to. atnteb md fiaI lkapo.rte trafk..httg tedtiiquf,r |r firy t .pxp0rLtc io dilroqr.re hEh.pced t,tfik. tl. PuUk inft$ .nd tchool iw rtopr rhlfi tc co-lo(.tad, wtrcrc p{r(tk bh_ vn. P€&rt.Ln paiir xrd b*.*ryr .h.l h. dqtlg'lcd to 13 to raonld. |!Cca, and tnterconnccllvity. lb) toc.tk n ic dctlo.E tnd st..d.rdr. l, h loc.tlrt both iEfiook lrld hood( uott! rl$h $. nrd y{ha., (4nrldc..tlon dt.l t gren to nlnhild.* bs{iG nG?dt wlli{n thc (omfrxJnly- l. A hr.l rrtlt rhafl mt be hErt€d ary cbre, thrn 3.0 lnih.lrorn arothct rural rlt3a, 144 COLL:ER COUNTY BOARD OF COUNTY COMMiSS:ONERS CARLSON,NORRIS AND ASSOCiATES,:NC I rX on-In. 5,19-11 li. tlo mol! thdr orE rual rlha. ]|Dy be lo(ated ln Gactr oI ih. dlniltl mif, d.tlGr ilc.ilrg A."lt d.ptr.d 0lr thc ftUM .nd oo th. Offtt t Cofrcr Corrrty Zor{tt All.l rn.pi. ly. A n rd rlaa lhafl ft.f. dtlct xcclr to a ,o.dn6t <t nlltcd if Colle, Coonty l' an artcrbl orcfuof ro.drray. Ah.ri.ihrly, acca$ io lh. ,rrCrl t rnaf bc lA I l!.e (olc(tor rcadsry d..ctt acccrdrf, an .*!,iirE rrtctLt tha c!!t ol wHdt $tI ba borrE aotkEtv bt rhc drt dooer. r. A ,rrd ilra. .hrll be hc|tcd uho]e othcr g$f,c hftrrtructurr. r{dl rr pot tle r.trr.nd Jawc, fidltiet .k!.dy crlt ol rrc pli rd- (cl Slr. Lt!$latloru, rurd rfr.fri cral b" r ritnlmu$ ol3q, r(rcs tod I m.drno,n oa 1,500rff.i.l.&flr.It iVAlt i rcqutred ,ur.t rlha. Jrs lr adiuiv! ot thc rcqulrcd ad.a.t .r!! rct forth tnelfiqlLug ll8 t X2Xbl(61. (d) ^ddtboel yftc Oerln Olt.rLt Rll'rl rtlt r rh.lt tc dcrlShrd in accordarc wlfh th. ,olot rllt p(ovhbnr; !tc., dc. 15! ,ftd{r rla.trlho. X.fht yr|tdon thd he p.crcrvrd t.t hrih lrljf(lje1! 1,9_e-u. (6) G...on |t lx(cgt f,{U*! th. }{8lro .Urd rlbt.. . t't.lrlcft lYtngtt. lrlhlilm ol 3{r0 Lct h ryldrh, bot lor tEr5 th.[ 2q] fcct ln oHih .t .,w hctibn rhii be .!quf!rt ll tha pcrtmlt.r ol rhc nrd rlll... IlE tn.lrodt Ir iequkrd io.nrsrc. Ferrnaoantl, $da{alopcd .C. rr,rrorrod|l tha rur.l tllt, f hcrcbv dlraqrr.gt! .pr.f,l. Gaatrrtaltr th.l rooiofln to thG tolbu,tE: (.) Oaaatalr ,rrry orl, h. d!.E Etcd oi iBii, rt.drll$ fidr, (nl lhe Jhs.tl!.r|teru.a a.rBltt rh.t b. jftcd fiom rtu d.*rdd a.laadt io ilE ,urd t aaa, lc) rh. trt ntdt nray bt qricrntr.t.d to t grttter d.&rc h Irrt whac t b rEclrr.ryto p.orad lrtd tp".bs h.bti4 l rtudrt tr.lh,rr lod urllrdti Foyldr ftr r hrfhr frorn rleit r.tord rtl.ltrthl'r, 6 p.wtdc ,o' srllteld o. .idtcr pro.tdiorl. Hdqlr, at m h(a*on sh.l thr t ritalt bc h$ th.n :xD*et h i,ldrh. (dl GoI(outtes rd lrirtkg .3rk{ltlrr€ opeRttoor tlc 0crnrtt d tlrhh $rc t.t..rLt, rffi to ll! vlgltaiton ]lr!fliion !r..{$dr Et hh hlcrt}J 4Jgg!r. Ho cr,tr, tolt€Or* trrl.r!.! rhri onh bc h..t!d $thtn l0 ftrt ol fhc allrrt ll boondulqt In(tllo. ..d Gtri.lor boqd.ry, ,urth.., lhcrc turf rca! rhrl qrlf bc hcrtad h t,lrloldy ahtrcd or dHurt d .cat. fr) Or.. !i.cG: lMtfiht rha rir.l rI{ , r r*iimum ol 4na ot opan sp&c dr.I h€ FE{iLd, txtuih.c ol tia |'l.16.lr, (tl trofi$ b. App.or.l ol r rur.l rIhF. Aoptirlrtorlj for lp?rolnl !h. te s{riml cd h the for.s o, r PLn.Gd Urilt OalllorDnt lpUD] raao,te ,. Gtc,, Gtr. 4. RFMU sendlng lands. a. Allowable useg wherr fOR 6edlt3 have nol beer severed. lI) t rG3 Pc.rnlrhd .! ot ivhtl l.) l3rtcdtu.d r'.. cordrt€d wlh S.{tlooi t61.3f62 -d &l3. t4{6} Itor{d. St tutcr (flo.ld. Itli to f.rm Af,tl. (bl O.hrhrd ltEh-t .rlty drdlt hrltr, krtudirla t oiia lloltrlt slE?! tnc nF6l. fict Zonl.t Otrrkv cd{!, t 149 COLL:NTY N, N COUNTY COMM:SS10NERS D ASSOCiATES, :NC (rr( o{ tr. G-t9,t, (c, f+aS[.t p.s.rEdon lltd rsarEtbr ta... ld) P-6&.r pa*r lnd other p.Blvr ircrlrtlonrl u!6. (rl spo.tlry d ncc.€.6dEl cffipt rdt n whkft ihc hdllrf, {omponett 3haI rlol Gr{cd I unlt prr 5 t.grr rcct. (0 lho$.'trntrl tont 6 l*.ntified tnlgg!i!j1-l,Q.l_Qj(g), kl O[ ]t , t a axrlorl$on, qrti.ct to rpp{cebh !t.te rnd kdc,at drlllhtr prrmiis .nd Collct Coqty noo.errl,hdlltrfial rltc d.rlopi!.it plan .erlcw proc.dur€5. UrectiorHl-drlllirt rd/o. p.rvhrrrty chrrad o. dirrutad trttt Crafl bi u{Izrd h order to mhtnlrc hnpl.ir !o n tha! ltat{tati, lt|.r! deterrnlned to bcprrtlrbtc. fic,, crc. (2) Ac.l5lory !l.!- Act.lory urar md dn t irr th.t aoe xc$lolv rd ktddental to war pcrnittcd tj ot ,Lht h t0c*itlio4 Z.tl.oB A.a.r,t ltorc, (3, Collanhnt ol. . (!l lll.o$.rxndJ r.Itlc6 l+nrtS.d tnsg!!!_aJlLul G,2. lbl Publk t .llid.t lr{rtrB rolU Et rnd r.toun. rotov€ry 6E[itler, tod BrHi. vlliclr and cqdprledt ttor{c xrd ."palr L(ifiti€', ihr! ia per rlttad ulihln S.crbn 2t lotrirhtp {9S, i.{c 26t. on hnd, rdr...Dt to tha crt iirt(o(gtty t ndfitr, Ihk rltrl |It b. h.rr.(ad fo allon lo, th. .r9.nrlon of th! Lid6[ into Sa(tlon 25 lor thE pinpola of tol. rart dBpgr.t, (cl Oll ard t r fEH alr.lefitrnr md prod[rlon, $drcct to appth$h !rrt. .rtd fodoral lrld d.ItloFr|tlf lcrmlt3 tdd Ootr r County txtn,anylrofir"nr.t.itrd.rrloFi.it pt n rcrlc Focfdlr... att.dto.xl-drfifB rnd/o. D.qdouny chrrcd on dblrrH arlai t,lrl L uflr.d h e.d"r to ns.lirnl.c tnFclt to natharha!l.tt, IrLlt dctc.DkEd io b! Dr.catltt , ttc" Gta. H) ColtlrErd|l ura! |Gca$o.y to pafltrltad utor lr, 1.c ard ld |tor!, $rdr a. rrtrlr dci ol prodtEt accr.go.y lo tt'r lt, oa . ,trtnrilrt t(cc$rry to i p.ri or pftrcrlc. ao hll ar llaldcllonf o{ lln}L o6! .r. ttrporcd to ln'|,r. ihE co|mE cbl sla hrlctlont a5 ,lt acorllorv, $b9rdlnatc u!,t, b. Uses allowed where TDR cEdlts haye been severed. (IIt t r Plrrt ttGd .5 o, itht: (.1Aar*dtrrd o't (o'lffant lrlih S.dho! 163.3t6t aod & f ,f4l6l Fbdd. 5l|lur6 (f|orE. AEm to Ftrm Aatl, lndudrt r{.r rn nalcm.d f.cllt .t, to rie extcnt lltd ht.rBlty th.l $r.h opcr{bnr.ri.t.t |cdateof.ryt,.n ftrot d.f,al,rrnrant .ifir lbl Ciirt€ grartts o{ t r*rnpnrved p.stsrt xdEro no tL.r&I b..q9ircd; l.l Ochchcd rl.Eh.t nly drdllla rrilA, lllchdlrt mobfa hofiar wha,e UEnEiL ioa|t zoiinf Ove.Ly arrt1 !t . ruin{m d.ndt of om dwdilE rrnh !.r /O actca, tn 6dar to trl.h tllq c dcrrbrh.nt .illttr tlla..nl t anth. l,p lo ooe dx,!ll.g murr be .a.hEd lio( t.tmllrlfdl p.r r]o .q!r. (dl ftq &i.rtEd d{rafing uol, htdildiE nEHh hootc! whe.. th€ rnotlc tom. ronllt oarrty G*tt pcr hn o, lrrd h .rhtc.Lc ar ol ,ura 22, tEIr, th.t Ir lcri than rO .c!.t. ln ords tg rltah t r€tc a.{rlorfilnt rlthtr .frrr .ny l.a|rrcr, up to om &rellltE mlrt be rctrlmd [not tr.tBl!.rad) lcr cach h{ or p....t. Ior fhc lurlp'rr o{ thb provltloaL a lot or ea,ld dl.lt be dctmcd to h.v! tlen lo orl*en<! .r gl lurlc 22, 1989. upon . thoi,hg ot ary of ri. ,otlowkg: 150 COLLiER COUNTY BOARD OF COUNTY COMMISS10NERSCARLSON, NORR!S AND ASSOCIATES, INC I oc onltia t{91, l. thr ha o. Fral Ir pan ol a l|uhloo that wrt rtcordcd in ttc gsblk racc.dt o, ttr Co|,flt oo or bclora irlc 22, ,999; I. . darc.t8loo o, th. h o. lrtd, 0y ilcfcr aid td{ldr o( oaha, $cclft hsrl dct{rl0(ht urr Eco.dcd h lhc prrik r! ordr of thr Crunty on o. bcrorc ,lur'ra 12, l99lr; gr ti. jr rgllrEnl fgr d€gd for tL lct o. f{El, rhhh hKlud6 d.t ripllqn ol th. ha or t ac.l by lmlfcd ,Ltd boird.ry, wrt clecri.d on or he6.c,uor 22,1919. {e} lhbtu prcrGrvttlon rrd aonr.'tloo ltar. (0 ParriE paalr xrd p.nthE rccradlrnal lrt6. el lho6. .sdrfhl rcwL.r tsrr|ttfild hlsrlonjt pl qt g- lhl Ol lld t3 a,gaora0oi. rrarld ro pe{c$b i.t .nd tcdcrdt drfltlE p.flrrB rnd Cothr Col, , ,Br-rndroomot,l dt! arlr.hpruol eltn rc/hrpaed(,.r Ohacuoo.l.d.trtl .nd/o{ p(crfootly rh.Gd or dliturtcr, ar..r th.B b€ utlLcd h ordar to mldd& lmea(t! lo n tiv. h.t{att l,rcr" datrm n d to bc Exrkablc. Et(.. .tc. 0) tl trrbe ln Coolurxtloo $,[h xrv County, {.tc, or,rde..t Fnr$tfB. (2) CqialLad rnir b) ntor. E$.r iC Urcr lrhntftsl lnEllE!,lJllllj G.2. Ol fl ld fo ffcU -rlofnaf rid plodr( oi, &t ccr ro rrg{c.th r$tc and hd.nlflcU darelo0niant !.ml| ad Cotrhr Corx*, norFcrwiron|tlcfirl tlt€,.!,rbf il Cf,l r6rl.w ero<ldu.rl' Okartlnarl-drtlkt d/er prwlourl, .L..!d oa dblurbcd ar!.r th.I bc ufllltd h odar to tn*inlllr krT.(t! to n.dlc hui.lt, rlr.rt d.tdnlEd lo bc p...tkrtL. tr4. .lc. lcl Codlrbd rrq afproYd.rhst ; h rddatbn to ihc Grlttlh s€t fo.rt h.jif!t,-A,: lo_g.]9g ol thE Codc. rhc Horlllt ddtbnrl crtrcrt thdl+CtV to ttl" $prod ol rorala.d r.l.. wthb ifl, t r.l|l|hna I L lhrl,pLrrt t l r{h'rlh r phn l6d.rd.p[.nt tlBt dcmofft rtct th.tr.rH|. frr.d ,p.dar ]i ttd, ll.Utlt .rr !dcq.[tct, l.otartcd .! rpc.lfid kt caEFar't l, /a md tO. L. Conditio'l' ma{ ba kieored, ri d€cmld tporo0thG, to l&nh th. $ra, loc.Ooi, rrd acc!3t to tha (ondhiqorl ura- .. Dr.ltt. (ll lOffi3 lrrk pcrll,t ona rlt$ or (21 l.O thrlltt urit Ecr mlrol*D.rht bt or pfi.l ln crh,t.rEe .r of ,(rE la 1999. fo, fta FuiDocc ot drk lrorfior, r bt o. trt|l eikfi k d€€rEd io har bcan ln cdltcrre ol! o. bcfol" ruE 22, 1990 tt: (rl A bt o( rtr.l rtlch lr p..t oa. rotdrlCoo Ero.dcd h thc Btbic Gcord. of CollCr Co.ntry, fbrtt; It) A 5t or p$a.l whkt h$ li|nlrcd fta{ toudrrhr, dlrcrlh.d !y nt trj and bol'ldt o. othar araclft le!{ dc.cdptbn, rhc dciarlptlon of ryl,lkn har bccnr.tafu h thG pi6k rcordr ot Coth. Cot,|ty florlda orl or t br!,urc 21, l9tq or (c! A hrr o, p6d trtrldr h.r fmtad li,(?d bol,rbrls .nd fu. wtkh .t.c€nl.nr br dcad wri Gr.cdtd prb. to,rma 21 190!r. d. Lrtlra rt.*aior ,atallrtloar, A! reqrtEd h-lltle0le. n 10 151 COLLi OF C AND COMMiSSiONERSIATES, lNC LDCad-l,ra 6.1!-17 r. olrr. dhtaGrhnal &tin li.rdrdt D*rxndon3ltt ndadr tet,o.lh h re<tlon a.0)_01of tm Codc ,hrl flplv ro .l a.do0i.l!t ln ScfiXlt &rtrEt d hndr ol thc |tlt, datftt ,cxip( a, tollorl: (rl bt Arlr rd WAn. Fl iahhu'| h,l Al! : O|cni, (bl rahlnxlm bt w5rhr s0 f..t. (21p.*kr. Ar rcq{frd h.(Udgr_{. (tl t odr..plit A3 ,lqlrtlld tnlbanllt,!. l/.l t|lr . Ar rlslild hl$4 5- Sp.dtk vtfct'tbo rtan&nt ftr tn .lm, ttrtLt. !o. rrc gactfic rrrid.rdl, pb.re rctc. loles!ia!-IQl,07 C. lhrq$r ,.05.07 [. ol $G codc, C. l{orth Sellc Mcade Overlay Ortrlct {ilBMO}. l. Pulpox md lnacnt. 2. Gcncr.l loc.tlor. Ih! IIMO oldrld lt $rrcunarad btcol&n G.tG t{!t6 to th. north,..4 and slrt.nd lr5 ro tlE rosth, fltB t{0t O co.ne.&.t rdlE ta r.cllofi of lxtd l+proOnrtetyl5.35al..rrtl loqt.d c lrtly*t tifi.t it, Otdcr Gocleq(Atle,elg{,U.rlE lo.,id.rlcr ol the ile O ourkt.,c oqaocd h ltoflrrtioit z.ol.Os C.2r ictor altd orl thc ltodh &l€t ..dc Ordat ltI h frE Futu.. lrtrd t tr B.mcia ol ttr 6up. frgd$od Z.or.og C2.o l.AF crHlrv: a. NBMO receiving landr- Plrmincd, coltdlit Bt d.ccrrto., rEo! utrhh I0MO &Ecelvlll3 trndt rtCl b. .r t t lo{th l.r tltcl4drqrLlo] i,8 4.2, llcrDt.r prorid.d ]n LDC !e.,,ion 2.01.0! C'.t. All othc. provklom ot ttlt Cod€ ih.l ln?hrrlcl* Lh! ;utrr,. tfid (tE 6rmcrri, Conrclv'tlon ,rd Co$tal M.Ma.tt!,rt thmcr{, o( pu k F..fifier Ehnt.'tt, lBlldht hn ooi llmltld ro Orote.r !,4 ard lq, rhrl o y Dc rp0lkrble to &rrdoDm.nt tn llEMO i€crM{8 t.dr& to thc €rt nt 5prclft.lly rl.tcd ln tht, lacibn, }br!vcr, -[ d(tlogirattt wthh teMO iaclivlr| tr.ds $rl corq& rlih all non-6vi.orkEnt.l ,wlrw Iro.lduH kr iic darttr.nr pLnt and phltl.f, tt stt loith h thh cod.. ,rer Foro. a r'i *atle/,'cnl Arr.,tnErr.r - ercottralon otlowed bl CVI 152 COLLIER COUNTY BOARD OF COUNTY COMMISS10NERS CARLSON,NORRIS AND ASSOCiATES,INC IOC orr.ltna 5.19,1, b. ,.firo rrrtrd llir, tr(rpt l, oah.rllrc rFcltfzlv pluuthd In tDclrEUg!-l,tqlql C,4, md LOC la ion l.0l 0{ C.5.b, .l d.r.totet.ir $ttfir |SMO i.|ltr.t hdr rtll }. coithaed vrih tDc-!,er.tu_2!l4g At. c. NBMO sending lands. f.Etplrrotlt r$trG !p!db.ly pro{l h loclrgra! l,0l,q! c-a,..l ac!5lrtrit *tth {aAtO Sclldlt trd5 ddt bc.on{dcni wth t DC ts{tisd-!3& ar. 'l- G€|Enl phfiirl lld dc*n coGldcr.Oo.i 5, lddhhnll tp.dft .r.. p.ovlrioor. a. ir(.h,arl hndr, (l) D.i.n . Fl thc b.l. &ra! tn ltu, rsl*I fridr, orlltlda of I rud rfra" k oordrr! 08 mlr plr iv! 15) aroar acr6. (br lftd.nrfy nay bc lncG.xd, r|*eush I|' Glaalt .lld ml aoi{, C'rdk, up io I tn rhqn of I d$rIrt l,ia 9{!lo$ rrr, [.] o'x! a dartaltl ot 1 d{! llg rrll pat tro.s ..rG B achkwd uxoBh IOi crtata rnd IDf lortli O!*r, rddtiord d.Glq rr.y br .thl.r€d r hlorr: l. 0,1 dElha udt pcr |tra lor G.<h !c.c ol ||.th lt!.t*bri pacr.rred od- lit€; F. Of firclllt tml !.. ..rc tor iach ,.ft ol rairl|', tllvlt r fui.tboolty valuc, a! aaaalqcd u.irEthc Sodh Flortt Wttcr Mmrairnrnt o&trlcl,, thalbd t$tbndr Hedf.rbt A$rtsft.nt Mldlod, o, 0.65 o. !,lrtcr thtt .rcpra'.lyld on-rle; ..(/or lI. O,t dEltt urll p.r tcrp ,or !|(t xre ot Bt\,tO S.Ddl{ t|lld t,lat b vrtiEn .'ihar r IipA o. r bilta .nt tdlotrtil . XRI th.t b dk t d io r FlHt o. prtvatc alllhy b .Dfircrv.tlon ur!. (rl nlc .rnn o{nrt or.r.!,oo.d.rpardr Ihni u..5 thli ruirartf odn dtth totrr(, n€c.trltl8 tardr firy coothrr. atd $r, rrqad r5 ,Drot6: etq .1.. lt{Al Fl A frt.d.lr k nof Eqqt€r, br.ry alGrahDrlr.trt h il8atlo t c.h,tq frida triclher insBc o. qslidG ot a iual r}ar. LoutTlr, lny f,tqrtcn r.t h p.wbad hr tltMo ir'll rll.. Ehalt i. tidrdld h ihc cC(ddtoo ot o!6n ,p.e, ({ XSirO nrd ull.tt, A !.!MO nr.l r,fl.B ndl.dhcrc to th€ p.o{blo.r$ for rur.trlrt! rai ,orth ln secrtan ?-ot g( |AX2XU..Eert .i ldlor$: Fl fr.tdt . An fif,lo rurrl rlrft thrl h.l/t r lr{rimum t.o$ dirtr, o, t-sdrr rl riltr pcr Fc rid . m.lturrn Iro$ didt, oirh,t! F, Ar.*E r{rt pe. xru. L Itc rdn&num ..quir!d dcnrltl *.I b..6l.vrd rhro[h fm otdnr ,lDtaoi(' O. r, rd k ral ULtt lo E rrdlll , at prayH.d hu€rl,u,r Itl'oE A'z'b'{ c,' l. Ol|cc thc mlrhum ,cqdrld &dV b .chtad, rdfdooald!B*r, ,tl.y b. xhtlvld. u0 to the m|,Arum of thrcr (31 ffi.I onhr pGr A.o'r .t.r |.orth t.W ooc oi ton$iEiirI of ftc bfotilB: .l tot odt$; bl Tm tooui Cr.dlt$ (l 0-t du.e rt s.!f Fr H! l0l ar.t .crE oa natlya U.aalrdo.r p.ltcft"d oniile; 153 COLLi NTY N.N OF COuNTY COMMiSS10NERS AND ASSOCIATES, INC l0( ol-r.le 6. !9-17 d) O.t filtlllt !r{f p.r ..r! (o. Gadr lf,rc o, r.lh.!dr h.ehE r ftslcllmdltv vJrE, .3 arrqtrd glrt lc Sdih Eo.id. ULtc, fa..rr|rlri.rr Oirhkr'r t,rlllGd U.th.rd. Mltrtho Aritqn nt iLthod, 010-65 oaSrldc{ that aru p.!r..v!d or}.thci a.d/or .) 03 durlltf, unfi p.i .c.! ,or G.dr ry! ot tt&ito S"ldirG L.d th.t L irit|ll Glthir I ItApA o. r hi.r tfe. r4olnlru . tanp^ th.t k Hkatcd lo a prilk oi !.le.te s{ty fua (o.ttarvriloo iE!. (blsar.ria(r dlll b. rrquind oo bolh rl&, ot thc rt ..{t. kl ln&acooitart.d Uf. lrar ,t$ ba prqlhd ct .i Gol(tor ard ana.irllodHft. ldl S.troolr rb.l ba hc.ttd stthh . llfarro ryd r l|' s,ll.tI{.r pordt&, in dder tg tr{n t! bu$lt gt thrd.otr ,rrlircfimf!, ulrlia,r,cr po5iha., sclroolr lhcl t (o{o(.tad wllh othrr p{tlc ,rcffhr aod cS*c rt uclqr.|. ,och .! parlr, libr.ric+ (ornnudtr arnlcrt, publ rqur.tt iramr. and clyrt r€.r. Gl tlortclrllry $llootr dr.t bc ccadua by lo.d ttrr.tt.rd prdcrtrhr md tktcl. t .lhhr ]rd tl.l Dc loctcd h or rttscnt io tha .urj rllbt fi{$.r, tlrovt .d th.l b..l ttrcclr pfoyldc r(tatt .d.qote lO motts fhc nacdr ol lh!s.M8otd. b. nrrrl h&. l.q rd hidr rhI b.tor.mcd tV lG rrfihirr tat lo.th tnE4li t.03.08 (A)l!), rlh fi. Grccgooa llur, h trot! rt tJ h* ha&d tn S.Grbo 2a, Tomli{p 49 Souh, lx$a 26 El{ I rnitnom o{ ,OX oa thc r.thr !,t rltbn prca.nt rh.l b! p.!!cnald. lff.lo.O+r!| l,; Od, E {t rr llJr o.d ta !3-.1. I t.tt h,rE qtar,l r.r: orl. tr._ tl.q} tt( Oi,lo rr.r{ I ta. ft- to. !6.zr,,tc,l 2.of.O1 - At lculturil Otrtrlrt!. Art'.llart urC Dlrl*t (A). f. IhG fullouhE $brectto.t3 llCntfy ta l|l!r that l.€ pornk tb tf rtfrt arxd thc u!c, thtt ..r llorfit lc .* a.!.li.ry o, Goraiooal ura ln tha rurll .frtu|lurtl dlrfTh (Al, b l&rrrory l,ter. ,. lrt.3 md ttrd|l6 that ar! .lccttory fld lxldcnttl io th. .EGr p.rm cd lr ofrt h rhc A ilrtrH- 2. f.rm htor houra|B, rutlact to *crioo 5.0!.0!. i fa.I $h of frrrh, wpmclllrd lrlqllt[d ,lofirt!, tron p.lnrlrltvon thc p(oplrty rfil $tlccr lo . rcrtalr ot tr.ftk .ttlAtlolt p..tlt? xd !.hq conccmr por$r..rt to 0!. $tut ttxr d. . hpror/lmanl Dbn ll pttrtldcd ,o( hSl(tio!' t0.0? Ql, .,. PrHrfhouta o. ffir l',kdlural prcllcltg oa hrrn trldgct, ,rodu(Gd oft th€ lrQarly rlr.cr b fic lolo{,tr8 (lgrhtloll!: rk-, !tc. 5. trt.vraiGn md rd.t.d procar$E .nd Fldrxtloa ralGcl fo the tolorirU crterLt L lhc mthrlty Ir chrdy todd.atr! to thc tsrlcdturC d.rdoPnr.rlr ot drc p.o0arrY. l, Th! .lk!d rrla lr rlthln a firtfte f,.lrr rmo4cimnt 3y cm for .GitrdtrmI ure rr prrnttcd iy thc sarth rbdd. wrtar Maufcfllcrll otrtricr (spwMol. 154 COLLi OF C AND COMMISS10NERS iATES, lNC tDCoi,ll.l"6-19-1, n. fhc lltpu nt o, aravrt.d anat?rhl rcmoved ,rom the slte camot aEeed a,(m qalc ytdt tunoontr h .r.cn ol (.d, drbk f.rd. rhall rcqllic corrdtiood t|.c .pprovtl fol tarthmlnh& puriufft to tha p.o..dur6 ud co]dilonr r.t forth ln LOC $'1't!{ 10.08.00.nd tllc Affi$ktr.tiE Cod.. 6 Guarthou!6. tr6re{r to i$lte!"!.I:.sj. 7. P,iv.ta bo l|owar tnd m on hh, c.ml or *.tG.vay lotr, ssufil to 5q!i!=! 5-SL0€. 8. l,rsc or r rEbL lEi. .5 a tcmpolliy rltld.nc. wt![e ! pcrrtrntot dnda{.rnlly awraha ir !€h! con3ln ctcd, rublccl to thc idlq{tE: etc., !tc, 9. t re or. me!{a llorrla ar a ltrldence h @rrulrc{oo {ith bon. fide ltrkultu.rl adlvltiet cy',ccl to lhc ,ollowif Glc. !tc, ,A irrtcruqxl racifthr th.t rcrlr a, en l*atr.l Prn o, r rcCdcrtbl d.nbDmlnt and halr b€cn d€lEn t.d, llv|lirid and approcEd on a dt€ ,asalofmt,t rl or llttliAlon rnrrEr y'en tor lhrf &raloFranL 8e(,!a$ol!al fttimb mry irdodc but rre r0l lmltad io toll tourrc, clublroula, rornmhlt!, c.r|te. bddiu .nd t!nr{' ld(tltlc!" Flrls, phyt.oood, tnd dryfiGldr- 2,Ol.0i . tlrrrnLl SB.vtcl5 Er..itll ErLar al! hcrlbV &tlEd E rcrvhti dcttnad td oF .tad to proyid. rElrr, t.crr, 6rr.teLCFor, allttddiy, (|tk tdqr*don ol cormurt.tlonr to th! EcrEral pirhlk hf plor\rlr3 wtihh h&E baan apFovad fd .uthorEad .ccqdar! to hwr h.vl'| arp.orrLt! lrldil{oo, d lovemnr€nttadltinr. Ercanlr.l t rtlc Ire tfiotrcd ln ary ro.lint dlrfrlcf ${iact to th.ldhryltu cofidltbnr: A. Iho followioB ure5 rhall be deemed permitted uses lii rll roning diit.ict', ercepi OOa{ dkilrLlr, RfMU rcndlna hnd!. Nlt t tEr'is, rnd FSAS! t. Wat i h.! .d rclrtr lltcJi 2. l r$rrl er l.t!. .Etpt th{a tno(latcd id$ cl .irrc0or !,rd .lh.d ,....tdnalp(,rthnt.r arfin d ln tllr Codc d r*ulrtcd u.lter.erltcabh Ld.r.t rnd $rtf hw; 3. lchpfioi.lr*3, tdcplErc rrttdifu jt.tbor. and cablc tCGrtbn Xrc+ a. Comnunkallon torar' , tirnhcd lo thorE pror,idirf, $irah$ cmcrlcnry t.t phorE leryko, rubfd to t .rrlic.ilc prwhlonr h *.tion 5 O5-O9 or tHr Cod.; t, El€rt.krl |rrnrnltrlofi a$d dklr|bdroo [r!+ qirtatlo.rt, d .nr|lcocy totf,tr rt udon ai A S.rv{r Hfi rtdlonr tnd r.t.r pu.trplf, rtdlonli 7. Braothl ffiroa Elr (lrdudlrr! rrt,l{thn b.af ies ald ,eqrd rG .r,clirry b.lhlcs); E. ArU othci rEl! rt*h hrE !.Crl or wlt L pe.nttcd bf tha South Ftoru. Wate, Mrl.Fmert Dl(rht or fha Florld. Oopanit€r{ o, &wltorrmitlt e rota(tlotr aiih€. prto. to or tut .qnert to OE cfftrilv. d.tc ot lh|| o.dtxrc€, o, f thr ilrfcrttvc rioll .hd/6 $e[ r.br.d t*llly Ir otherur.* rEqul !d to bc lnttaftd or cortltn ctcd by law, Etc! €tc. 9, Contcrsioo Coat r L6d. wl*h ororldc ,0, pc.r ttcd norre(rutthe, p.s$rr€ nit!.tt iei{rirltt bartd |!cn!.tboal d cducttlon.l rthrii1 crcfurhc o, m..lor hnprwfl|icdtr. tlc,, etc. I Permafied e3r€ntlil !rMc.5 In OOfldrtrtcrt, nFMU rendlng land!, ,ntAr, |tsdt md FS t 1. Withln ()oi d rlrb ) Se.dtn! tmdr kr rha l'llf, C.dct, flnp^t .nd wnfin &slgn cdB.ti.t slr{.d.hh AE.r (HtlAl .nd Fbw ury Stefirdg p Arc.s {fgA, uilrn iic ttSA 155 COLLi TY , N INTY SOCi ONERS rtEoi h.a-lltz oltrL, dblrkt iot{.ct ro $e lln&r$onr lat toaih ln re(tron 4.08_OS C, the tdlo{lts attothl rrrrLar ar! pe'mfitcd: .. Prtfate c& titd *rtk t *q b. Ullty h.r, .rrpt !6r.r lhr'; c. S€Fr LE .nd fn *atlon1 orrh l, l6d.d rlthln .&!.d, dearcd po.tlonr ot oddhtiliird.rav q la$tEoti rid i€c.r!a.y to raiw a Bitcl, oryiad oa priv&ly 6,red certr.l tatrt tYrlQ{n paorrldlt tri/lc to u6ar lrct'j o, thc iurat lr.lliltlon It|r(.r .rd lcx..r DtArkt $ ff rd o|t th. &t n{('d Frlrt. Tr.nltk o ZorcOr.fif M lo thc futuit ttrd Ur€ Et rpnt d rtlr GMp; rnd, d. wltff purnpft ltatiqrs n!cc$.iy to ,fiw a Faich o l.d or ,.ly.t!t owmd {altiJ rttc, ryrtarh pddtt.ervbc to uti rrca; ol dr. Rurj lrlnlllqo Watc( aM S.u,qr oirtrh. l. ddktcatcd on lhr tftbtn-irrd rriEr Tranitbrl Zon OyG(hy M+ tn lha ftrtlrt 1..!d irrc thnrcnt or lhc GUp. !. GolE.r'ldo|| Coli bat wht{l provid.lo. lcnnitlld m.d6trudhg D.$hr" r|.tu.rl rclourt balcd .lcrcrtlooal alld educ.tion.l xttvkLr, Ga{furl}! ol m.lor lqrorttncntr, ttc! cic. t Ad.tion ftlrtrd u.cr .,- IVA G. Coodltlonrl ur€t. Tha hlollrl !t"t raqrrki rp0rovrlFrqt.nt to ,e.tioo 10.{,t (4 GDatdda,rd lrl.i : l. Condltionil carcntlrl rarylcar ln eyBry ionifl8 district €xcludlng tha ffMU dklriEt sendin8 landr, @ra allrldr, tfir^6,.nd its^dcrla ad HSAr rtd FS&. h .t/trv.oolu dlrlrlcl u{6r oth.rgi!! ldc.l rld r' paritlllld st r, lrd crlutrrq lllilu dlrtlct Scndh3 hrd!, CIX ahLt, .d liP^t fhc bfioitt urr dul t .tbt.d a, aordilord |'..: .- thrk o. iar !?nrr.tlr! ,h $ b, tmlEfl rlnl$ (. U.ro. rt.flmp dttlooi xwla tr€.inErt pa.ntt lEMht percohtbn poodt .l!d st.....alion oa lrt*tncrt phoi!, d. ll6pt b d lo6Dirc* !.6ort llrEltl lrdfitbs, lnd{dhl flh..r mr ldq*tffGd 15. pcflnl[.d lltc h thkxrlbq lailty lrn lc. facllltlcr 'rtdt B l lldilB hn cnhrccmert, firc, crnc6encl ,'l.dlc.l tarvkafi rnd t C.rl'.n Etloi Crtlr lx|ar wlt (h prG/U! ,o. Fa.nrltttd, nqrd.lrucllvc, 9ar6hr natl.rd (ctourt! b.lrd .ft.lrilo.al .|ld Carcfibrl.t |.tMtL+ wlEn ru$ 5lt6 rcqdrt mio( lrtl|l|or/e t'leott lo x(omfiodalc puuk Hari and ul.. ftc., .t(_ 2. (ot)dltlon.l clrenti.l reivlccr in nFMU lcndhrS land'. fttAr, @al atrt tctr, .t|dits d6ln tcd )}'/lr rnd FSA!. ffihh itlil, Ottrld Saldlrt t d!, llnpAr, oara{ d.trktr, .,ld th. ffLA drt*nrtad 16^r.nd FlAr silfi! to tho llmltathnr *t lorth lnllrf1as !4949 C2.. h addltho to ih€ .'t n$rl.syLl. lCcoilrlcd rr allotrd coodt qr.l u..r ln rutcaclionlQuj G, l, abott, lhr biorLv ldirirh.d .lffinlH rrylcrr l.G rlbnrcd .t ro[altlo0al ra6, L St'mr *lcr rtd ffl rl$loft ,lcccrlarl lo rctv€ I Frtlcly owtled or prlvatcly ot icd ccnlral Er.. td.nr p(wulng rcrvkr to l,ltan lr!.t or th! trqral frmrhloo Wrt r rrd Srw"r Obf.kt .. d.Inclid On rhc Urb.o.iur.l Frlrte L.n{thfl Io{E Orcdil r/bp h th€ fllurr l. rd Uar tlcmcnt o, thl GMP, ohon rc{ loetcd wiihln .tierdy clertd Dorlignt ot GrBttlt dtitt.oa.r| or G.!.rEot!j 156 COLLiER COUNTY BOARD OF COuNTY COMMISS10NERS CARLSON, NORRiS AND ASSOCiATES, lNC tDcm.tn,6.19_t7 b- S.hy S.rvk . ttrtld lo bs crrforctfiE rL ftq aild Clnalafty mcdkd r€.ytei; and c. Oil ..td f' tltld d.r.ltnl.nt rd p.oaElSn , .t dcfirEd and rcgiAtad h t r Codc, rcntalnr I con*brC 1,'r on o. bEm.ih Cont.watloo O ar hd' cdatlSrad lr tha COta rortt dittrh itF to t6r.ctbn 2.ol.oq t.t.c-I, 3. Mdltionll tondtlon.l u3.! In rEtdcntbt, rrd crt tc lomd drtrktl rnd h ftf MU rec€ivlng f,U tB|tfrl l.ndr. h r"rldcn$rl, irkrrlturd, l,ld rtt tr rolr.d di$rbr rd ln ifl,tu iccrMll.nd i.rtrd lidr, h.dd ioll lo lho!.....ittl r.rtlq ldcortlied.r corldlbod 56 hll*!io&a0l0.l G.l..bo!r!. thr fofiorlrra .r...rtH..rrL.r rhel .lso ir atroed ar addd-rJ.&i: r- Ralifi.1p..t! x|d coiurrrllly part'i b. Pldk pllt, rhd I.lblc tb'.ry 'rc*tt!.;c. S.ht, rcrvlc! lrrlldet d. (xiff jrnfrr ftaf,list ?Ic.?l .r ofllc wfta rsadl'nd hcrlln, 4, OofldlthnJ ul.' that lnchda thc hlt{.tloi ol ruuctoit.: r. Wh!'. dmElrlta a! livolvsd oth!. lltaar alruaturt' r[poafllt har or cabb+ rlth rtluchtrtr {!.{ co.nCy ulth ttE rltrL{iqftr b. thc dHrkr h it ch thry..a locrle4 o, !s rlrt b. .!qr{rtd m.n Trrurcd ri& defrletitrtt phn trxh.EE[g!_!q]q!g:. h ddtbq lh. rln rlxtr rh con sm hlofir $ Do3sbL to tha dl. xt .ofthr dtrdd h r dr thc? a." hcrtcd rt to aayllolltl.nt tuda{di, at sil a! $.lrt .tutr .rld hlldrc{t G wlthrrlflr lon d*fitnht aid bttLdl| !o an .rr!.qnp.dt ! u,th thq srrrqllldilB rtd ilttri| qhtk! rlld ltnurc s!.t- b. W*hln ttu RIMU dLirld s.rldirt bndr, ,attl$ Co6c{v.dql Dkrlktf, rnd th. its )6 . fid Il r, *uctrl r?ponll lhc (oodtbBl tr rbl ba locrlod !o .i lo mldrni!. .rry lnp.ct3 o.r nlk lq.rdon .od oo x,*rllft xrd stdh h.hfrl|. c Brarlbl rcr cct,l.X nol tc dcettcd to Lld.d. tha tractloo oa firuG[... tor(o naftLl acllyllle, sxh ar irhr or r 6kio.r oa bll' h dirtrictr lroe *idl flrdt rrlMlia3 rorrd othcrdra bc banad. t tBtallbd liftf t.rvk t, rfi&h..r rc...ro.t uact to thc m/mal ofrt lonr o, lhr Grt rd r.nt , nuv bc prflr{tld. (oni nc aa tr, I !& o|i. lL. .r{r, a l.B O. [o' Ctl, a lt O.a trr. tl-rl, t , 1.0r,07 - Ovcrl.y lorilll Olrtrhr O. S0filrlTrc.lnEnr Ovl,hy (5I1. { Trinsler ol OGltlofm€,rt REhtr (iOR). c. lDi .redhr from ifrat $lldllla hlidl G Eral lrorltlo.E l, Or{loo ol fDt.ndhr rl lol .irdrr ..r Fmnfrd lroil lfli, a.l*lrt i.ldi .t I r.le ol I tlttr .'.dr por 5 lcrt' ot RnlU S..dlt txxl or, toa tlroia lc3.l ooo{ontoffilt h& o. l..Caa o, bss th r 5 asri lhlt ttlc L arlthaa .3 of luor 21, ,tD, rt r a.t ol I tDl ordt pcr lc|.l .o.lcoitoor*ra h or pa(tal. bl Faa lolr lod fafi* 3 r(,ar or ht€r, th. Int . ol loa oldttr $ncratcd rh.ll b! c flil.trd utt! thl loto*t iodnLr I ot .crcr r 0"1 = I ot ft i G.rAb acri.f.t.d. 157 COLLl TY ,N oF cAND ONERS LDCon,tine 6-19 17 Where the numberofTDR credlts thus calculated ls a f.actional number, the number ofTDR credlts created shall be rounded to the near€st 1/1OOth. li. Creatlon ofTOR Bonus credlts. TOR Bonus credits shallonly be generated trom RFMU sendlng land property from which TDR aredlts have been severed. The three typesTDR Bonus credlts are as follows: a) Envkonmental Restoratlon and Malntenance Bonus aredlts. Envlronmental Restoratlon and Maintenance Bonus credlts are B€nerated at a rate of l credat for €ach TDR aredlt severed from that RFMU gendlng land forwhlch a Restoraflon and Management plan (RMp) has been accepted bythe County. tn orderto be accepted, a RMP shallsatisfythe followtnS: 1) The RMp shall include a listed species manaSement pian. 2) The RMP shall comply with the criteria set forth In 3.05.08.A, and B. 3) The RMP shall provlde fina ncla, assu rance, in the form of a letter of credit or similar financlal security, establishing that the RMp shall remain in place and be performed, untllthe earlier ofthe followlng occursi a. Vlable and sustatnable ecologlcal and hydrolo8ical functionality has been achleved on the propertyas measured bythe success criterla set forth ln the RMp. b. The property ls conveyed to a County, state, orfederalagencyas provlded ln b) below. 4) The RMP shall provlde for the exotl. vegetation removal and malntenance to be performed by an environmental contractor acceptable to the County. blConveyance gonus aredlts. Conveyance Bonus cr€dlts arc generated at a rate of l credit foreach TDR credtt severed from that RFMU sendin8 land that ls conveyed In fee slmple to a federa!, state, or local government agency as a glft. Conveyance Bonus cJedlts shall only be Benerated from those RFMU sendlng land properties on whlch an RMp has been accepted as provlded ln a)above. c) Early Entry Bonls credlts. Early Entry Bonus credlts shall be generated at a rate of 1 additional credlt for each TDR.redltthat ls severed from RFMU sendlng land for the period lrom March 5, 2004, untll [.4arch 27, 2012. Early Entry Bonus credits shallcease to be generated after the terminatlon ofthis early entry bonus period. However, Early €ntry Bonus credlts may continue to be used to increase denslty ln nFMU and non- RFMU Recelvlng Lands afterthe termination of lhe Early Entry Bonus perlod. iil. Calc!lation of ToR Eonus credlts. a) EnvironmentalRestoratlon and MBintenance Bonus credits are aalculated as followsr # TDR credlts generated from property x % property subject to an approved RMP b)Conveyance Bonus credlls are calculated as follows: #TDR credlts generated from property x % property subject to an approved RMP and.onveyed as provided in ii.b) above. c) Early €ntry Bonus credits are calculated as followsi fl T0R ar€dlts generated within Early Intry period x 1. 71 {58 COLLl MISS10NERS ,lNC tDCo6f6r6lrl, l,r. iecclpt ot IDf .nCtr o.lDl 0g.lill c,t.llr l.om iFfti, *rdtl hi&. l G,qftr or IOt !o.tlr. odllt Ao.n lFlil, landh3 b|tdr mry bc rcdacftrd lr*o U.h$ Ar€8, ih. Urb.n f.id.nr,.t t,irfe, and ittlu rsHit bidt. .r prorlded ln t{htlctiorr' 2.0107 t.d. ..d c. bcb*. v. P.otbltlon on ..d.rp{bn ol tr..tlor lot .ridh..nd ttn lo r..r.dtt. Whlh lrrctlond lDl rr.dhr ..d TIrX lorrl. .,dl! iny be cc.tcd, !r prwldrd h (ll, .tov!, lDi crtdta md tDi aoorrr (,aSt m.V only t rtdccmld ln lncrgrcn$ of r,rolc, nol Llcalonal, dvrlhg unlf3. Coit qtJeitlt, lr..thnal lol a.!db and fr.c oi.l tDt loltlr| artdtt murt bc rtliE dcd ro torm ll,roh utht befo{r tha, cln br ut}lEd to krcrc.rr d.itltv h riih.. oorF$lru nl(eking Arcti or nfilt. iG(f,lylll| hidr. vi- ?rolibitbn orr rsr?r.nae of aGrdoFrmnt t5l*r, .) Iclthar lDt c.idlt! no, llrt E&ly Entry !..r3 stLB lhdl ht tlrlcr.tcd ,roq! ffrlu rltrfna hidr Illrar! r coolair lo. catclrG,* o.othc. sltilar aa!ffirnt Grtdcfbn prohbhi in€ .esldedhl dat tot trai of rtri proparty, u/th rhc fi.cftho o, tho'r fln Elrh hrry !one. crdlE $socLrcd rlrh ?Di aradlr rcvc,.d Lortl M.dr 5, 2ma, u!t[ lrh€ cltectkr drtc o, ttfi p.o?blohl. Envlgfillad{ nptior'tlon rld Mahtiorll(c lcltlr aradt and CohycyaIrc aofir craatr mry only be E"rEr.ted trom tho6c m , rar!{rt bodr whcr. r conerv.lbo..!cd.it or otlE. drilL. dslorallllt ,cttfttlon on ffioetrnt ftr lipor.d h .o.rurdho sth lta ra\tr.ncc ql lDt crdltr. bl tlclihd lli crtdir mr .ny llli ion|t .cdhr rhdl te !r..r.l.d trom lfLl, ttidtt l$dr tftrl wcr€.lt .rd ftr.tradlurll oprr.tloos attar runc 19, 2002, br r pulod ot ifianty-ir.! lZ5, E.n rnar tuch slcrrlru oocurs, lAl-9O, TDR credits.re ofllv Sq.r.ratcd fron privJtcly os,ncd trndr (land! .fi publir o\a'rr6hipdo hotten€rllt IOE {.editi,, {Rcleren(e ttUt. RFMUO. Ci lcndin, Lrndi. l.l HOWEVER, THIS 15 SUPI n!l Df O SY PARAGnAPE 4 Of S€TTLtMENT AGRtEMfllr.l lru€n ftUE RFMUD provisions? Check RFMUD lor any add'l provlrbnr/det lls to include here, e.g. eewar llnes thru Sending Lends mugt b€ on previouily dbturb"d lands. ,Jobi liic doqrrBol pEpond fu tN bf C&t &t otyar,t'f/od rydrr,! ort urscybndr r, fl8lro, Secrlotls 291 32.18"a,7. So.tl9podens dIDCpn idryr. rrl! Doon ddotod rs.rot ,{{d('/Mo. o( oriair*,r9 oroB 6lr, At|. , ,rro.Or!, ,r.c6!ra.y fo. spprebd prnpec t●Ct口冷Ⅲ9■,0● "|IJOII●■|‐●_0"O CXttSFtaⅢS副 腱rこ _=ぃ ●」●=嗅0 159 ● ｀ i COLLiER COUNTY BOARD OF COUNTY COMMISSIONERSCARLSON, NORRIS AND ASSOCIATES, INC. LAND USE 2.03.Ol.Atri(ulturalDistrl(ts. $BEse A Rur.lA€rldhurdol5ultt(al.rhepurPoseandlntertoftheru.alaEdolturaldtttdct(Arlitoprovtdellndjlo.agdolturat,D!rloralandaucllanduj6by a<ommodaunt r.diuonal dS,iauhurat, a8.la!hu.il r€laied adtyities and tacllttier. rup[Drt faolide5 a€lated toagriaultural o.!d!. and (otr€rya(on uscs. uset lhatale Scoetally (onllder€d (ompallble lo a8rl(ukural uler that$!uld not rndln6rrordamate the aSrl(ultural, envtaonmentdL potauewat€f, oa Y,ldlife.eaources ofthe (ouoly. nre pemlsslble aa aondltlonal uies ln lhe Adlrtd(t. lhe AdisEid (orr€sponds toaod tmplamrnti theAgn(lltsralrRu,al land use d€slSnatlon on lhe fubr€ land u5e hapofthe Collta. Countt,GHp, and tn some lnstan(6. may OC(ur Io tie dest8nated !rban area. me maimum danslty permBllbl. ld the aural agrl(ultual dltl.l(trdlhln the urban mlxed ue dttlrld rhall be gutdld. h pnft bythe denrlty randg s,6trm (ontatned tn the autuae bnd u'e elemeil ofthe 6[lP- The marlmum dtnsltyP€aml35lbk or p€milted ln A dlsbl(t sh.n not eKeed ue deoslty peamllslbta under th€ d€nllty rdtinE Brstem. Ihe marlmum dedrliy pe.mt$tble In lheAdlsidd 9/itiln the atai(uttuaalturdl di5tri(I ol lle tutuae land use €lement ofthe Collter County 6l,lP 5hall be (onslstentv/i(hatd not exceed Oe drnslty permlrllble or pe,mtttrd rnderthe aSricuttural/rurdl dist i(t ofthe future ldnd ule clemeni, l. Therollovrintsubse(tlonsldslittheusesthttarepermlsJiblebyrlthtandtheuiesttEtareall@rbleajs(<esroryo,(onditlonaluleslotherural aSrkultu16l distrid lA). a. Perotttedutes. ,. slntlc-tamllydwelllnt- ?. Atd(ultlral attMlet, lndudln& bul rot llorll€d lo: (rop rdistrUi hodttutturai f.uit and nut produdlon; forestry t ovaq nurserler; ran(hln& baek€epln& poullryand e8Sprodu(tlon; hllkprodudon; lilestfikrrlttng and aqua(ultuaa forndtivespe(terjubredtoflorida Fsh and lUldlife Conseoalioo Commirslon parmltr. L lhatollor,ingpemlsedure5lhallonlybeallomdonparc.li20narettnrtteoagraaler: d) dalrylog; b) ..n(ht E, .l multryandercnrodild,nn: e) livesto(k ralrlngl nnd 0 a.lmal breedln& raisln& trahin& stabfing or kenntllng. ll. Onpa.(elslesstlran20dcresloslre.lndivldualprope.tyownersi.enotpre(ludedfromthekeeplo8oftheiofiowlnttorpersonalusennd not lndsso(tation vrtth a commerctil atricultural activityp(ovided the,eare no open feedlotr: a) fovl o, pouluy, not to ex(ecd 25 ln iotal oumbe.; and bl Hor5er and livesto* (g(apt tor hogs) not to ex(eed hvo su(h anlmat, tor ea(h a(e. l. Nohrlthstanding the above. hog(sl maybe k.pifora 16w€ek period ln prepnrauon for shodlngand sale at lhe annual Colte, County talr and/or the tmmokalee Ltvelto(k rhoy/, f he follorvtng stand.rd5 shafl appb4 a) one ho8 pet (hild enrolled In a 4-H youth Developmef,l ProSram. collier county Fai. program or gtmllar prog.dm ls pe,mltted. h no (ase shall there be more than 2 hoE per a(re. b) Ptemls€s shall be fen(ed and malntalned ln a (leao healthful. and ,anltary (ondltion. (, Ptemrsesorroofedstru(tureUsedrorthe5helterins.feedh&or(oolloemeototsu.haolmdlr5hallbesetba(kamlnlorumof 30 reet fronr lol llnes and d mlnlmum ol loo feet from anydwelllnS untt onan adJa(eot parcelofland. d) Hos(s) shall not be returned to the prope.ty onre remoyed ,or shoyroS and/or sale. 3 lVholesale ,€ptile bre€dhg and r.lstnt (non,venomo$}, suble(t to the ,ollorrtng itandardr: l. Minlmum 20 a(,e pa.(€l 'l,e;il. Anyrootedstructureusedforlheshelterand/orreedlngofsu(hreptllerihallbelo(atedamtntmumoflo{lfeett,omanyloillne, 4 lvlldlifemaoagement ptantandwlldlife(onseryandes.vrlldIferefuSesand!an(tuarles. 5. Conseryatlon utes. 6. Oll aod 8at explordtlon lubled to state drilllng permlt5 and Colller County slte developnlent plan reviev, pro(eduteJ. Z famlly @r! ta(llltlei , suble(r tole(Jio!l!!.Q!. a. Communictloos to\zers up to spedrled helSht,subje( tolCqlp!lJ5!9, 160 COLLIER COUNTY BOARD OF COUNTY COMMISS10NERSCARLSON,NORRIS AND ASSOCIATES,INC. 9, tssentlal seryl(es , as set ,onh tn-Sfllhtr2$l-Ol. ,A Sd@15, publl(, ln(ludln8 " Educatlonal piants .. A(cessory utet. ,. tjserandslru(tureslhatarea((eisorynndlnddentaltoiheurespe.mittedasofriShuntheAdastrl(t 2. Farm labor houslnS, subre(t to s€.[on 5.05.03, ,. Relall sale of fresh, unprc(es5ed atd(ultural produ(i5, Srsm prlm..lly on the property and subled to a revlew of trafri. .t(ulailon. pa.kin8 and 5afety(on(€rns puBuant tothe 5ubml5{onofa site lmprovement plan dsprovlded for lnl!!I!q!-l!J2$f. .r. Packinghouse ot slmllaraBrl.ulturalprocessiog otfarm produ(B produced on the property subled tothe followlng rettri<flon5: L A8,l(ulturalpa(kln&prc(€sslnSordmllarto(llitlesshallbelo(dtedonamajorormlnorlrterlalstreet,orshdllhavea((csstodnorterlal st.eet by a publlc slreet that does not abut prop€rtler zoned RsF-! thru RsF-6, RMF-6. Rf,lF-12. RMF-16. RT, vR. taH, TTRVC and pUo or are .esldentlil ly ueed. li. Abufferyardofnotle$thanl50feetinrvldthlhallbeprovidedalon8ea(hboundaryofthesitewhlfisbutsanyrestdenUallyronedor uied property. and 5hall (ontoh an Alte.native a rype bufter asdefin€drdthin s€(tion 4.06.oJ. Su(h buffe, and buUeryard shal be h lteu o[fronL llde or tedr y.rds on that portlon ot the lot yrhlch abutr lhore dist.ids nnd u5es ldentitied ln 5ub5e(tlonizo!,q1 al.b.4 l. above. ili, The radllty shall emlt oo ooxlo6 toxlc or (orro3lrc dust, dln. fumet vapors. or ta!.5 \rhl.h can (ause damaEe to human hcalth, to aalmal, orvetetatlon, o, to olher forms otp.opertybeyond the lot llne orthe use (rs0nglhe cnlsslon, tu A slte development plan shall be provided ln a((ordanc. r{lthlgsigol!Xl;L0i. 5. E(avatlon and related pro(es5lng and production tublect to the follwdng (.iteria: l. Ihea(tfuity15(learlyln(ldenldltotheaSrilollu,aldevelopm€ntoftheproperty. li. Theaffe(tedatealsV?ithlnasurfa(evatermanagem!ntsystemfordSrl(ulturalUseaspermlttedbythesouthFlortdaWateritanasement Dtet,i(t tStwMD). lll. fheamountofexcavatedmaterlalremovedrromthesitecannotex(€ed4O0O(ubl(yardtAnounlstoex(el!or4,OOO(ubt(yadsshall requlre (onditlonol ure approYdl forearthmlnln& pursuant tothe pro(edures and (ondltloos settonh ln IOCIS!!9!_IQJILQQ and the Admlnletratlve Code- 6. Guelthou5es, subrecttox(lien5ql.Q3. 7. Prtvate boathouser aod dodr on lnke, Gnal ortvateNaylotr subre(t tolelllgilLo3J)li. a Useofamobllehodeasatemporarylesldencevhlleapermanentslngle.famllydtyetllnglsbelnt(onrtru(ted,sublecttothefolld./tn8: l. Re(elpt ofa temporaryuse permf from lhe DevelopmenlseM(cs Dl.e(to.. puEuant to5.(uon 5.o4.o4, th.t cllowr fgru5e ola moblle home Trhlle a permanentslngle,famlly dw.lllng ls belng built: ll, Assuranc€thatthetemporaryusepermlttorthemobllehomewill€xplreailhesomeilmeofthebulldlngpe.miilortheslngle,lamlly dwellln& or uIrcn the (ompletlon ofthe slntlc.ramllydv/etlin& rvhl(hlver comes nrL iii. Proofthatprlortothelssuanceofatioal(ertifl(ateofo((upanqfortheslnSle.fanrllydv/ellhg,themobflehonEltremovedtromthe ptemlses: aod lv. The moblle honre must be removed at lhe temlnatton of the pemltted pe.lod. 9. Useofamobllehomeasaresldetr(elo(onjunctionMthbonafideaSrlrulturdla(tivltiessubje(ttothefotlovlnt: L Thenppll(dntshailsubolldompletedappll(aliontothesited.v.lopm.ntrevieHdl,ectof,orhlsdestsnee,rorapprovalofatempo.ary uie permit to ulllizea moblle home ar a rerld€n(e ln(oojunctlonvith a bona fide(omme.(lal agri(ultu.al a(tivltyas described tn sub5edlon?lfpl A.1.2. lnduded vith thit appli(ation shall be a con(eptual plot plan of the subjed property deptcting the l*ation 9F the ptoposed mobile home; the dlstan(e ofthe proposed Droblle home to all propertyllnes and existint or proposed st.u(tq.€s; dnd. the lo(atlon, a(reage breakdotyn. type and anyintended phaslnt plan for the bona fade ag..l(ultural adivity. ll. The re(elptofanyand all lo(al.5tate, and fed€ralpermit3 requlr€d for theatrl(ultural useand/orto plac€ the nroble home on the subjed 161 COLLIER COUNTY BOARD OF COUNTY COMMISS10NERSCARLSON, NORRIS AND ASSOCIATES, INC. sfterndudl.t, but not llmlied to. an aSrl.ultuaal (learlotpermiL bulldlntpermlt(5). ST permlls. and the llke. fll- lheuseofthemobllehomerhallbepe.mltt€donalemporarybaiisonly.nottoex(redlheduratlongfthebondflde@mmerdal atrl(ultuaal actMty forwhl(h the moblle home Ir an ac(eisory use. The lnltial lemporrry q5e parmlt mdy be l5a!ed lor a maximum of ih.€e y€d,t. and may, upon submls5lon ofa wrltten request d((ompnnled by the appllcable feq be renelred aonually thereafter provlded lhdt there ls(onunulars operatlon ofthe bona flde omme(ldlatd(ultural a(tivitles. lv, The appli(ant utlll.ln& lor lhe bona nde (ommer(lal at icultural adMty. a t act of land a mlnlmum of arye d(.e! ln she. hy propefry lylng v/iihh publk roadalthts-ot-rrayshall notbe ln(luded lnlhe mlnlmum dcre6ge(alolatlonr. v. Amobllehonre,forrshl(hatemporaryuSepcrmitlo(onjun(llontrthatrenafiderommcrcl.la&i(ultu,al.divity15r€queit€d,ghallnotbe loGted closer thnn lOO feet from any(ounty hlthway rlght.ol'yray line, 2CO feet from aoy state hltttrvay rlSht.ot-vray, or 500 leet from 6ny lederal hithvray rlghlof-way llre. ,A R€(reatlonalfd(llltlesthatteNearanlntegralpartofarasldentialdev.lopment.ndhavebeeodeslsMted,reMrvredandapprovedonaslte developmeot planor rubdlvlrlonmaster plan for lhatdevelopment. ne(ieational fa(ilities oay lndude butaae notlhited ioSolr(ourse, dubhou5e, (ommunlty(ente, bulldlntand ttnnls ra(ilitis,parks. playtround3 and playfields. <- CondiAoodluse\lhefollorvln8Userarepermlnedas(ondltlonalur€5lntheru,alagrltulturatdl5lrkt(A,,'uble(ttothe5tandaadsandproc€dua€t establlshed ln tDcltdoDlolEJo and the Admlnlstrativ. codq ,. [xlradlono.ea.lhmlnln&andrelat€dpro(€!{ntandprodu.tjonnotln(ldeDlaltotheas,l(ulturald€v.lopmentoflhep.opeo.NOTE: "Ext d(lion rel.ted p,o(erJlo8and produ.tion"15 noa re,ated to'oil exlraction and related pro(esslng"asdetined lnthls(ode. 2. Saemills. ,. 2e. aqoarlum. drary, boianl(al Sardeo. o, olh€r rlmllaa uses. {. HuntlnS(ablns, .' Aqua(ulture fo. noonatlve or exoti< lped€s. subjeat lo fio.ida fish and wildlife (onserudtlon comnrlssion permlts. 6. \ryholesatereptitebreedlntorralthS(venomousr5ubra(tlothetollorvtotstandardsi l. Lllnlmum 20 a(re par(el slue. ll. enyr@fedstrudu.eusedfortheghelt€rand/orteedhgofsu(hreplll€sshallbelo(atedaiamlnlmumofl0ofeetawayaromanylolllne. Z Churches. 8. Prlvdte landint 5trlpsforSrneral avlato& suble.t to doy rclevdntstate nnd federal reSulatlonr. I Cemeterier, ,r, sd@ls, private. ,r. chlld(ore (enters and sdula day(are cenlers. ,2. cgll(tion and trdorferritet toJ retou(e a€(ovely. ,r. communlcatlon towers above spe(lfled hel8hL suble(t tolg4lq$&1Q9. ,r. so(lal and faaternal ort6nlzallon5. ,i Vclslnarydlolc ,6.6roup(arctn(ilitles((ateSorylandllr(areunlts;ourslnShooer;asrlstedllvlngfacllltl€spuriu.ntto5,300.402F,S.and(h.58A-5F,.(.; dnd(ontlnulngcdre rellremena (ommunltles pursuant to ! 651 f.S. aod (h.4-193 F-A"c- all 5ubled tosecilon 5.05.04vhen located r.iithln the urban Deslgnattd Arca on the Future land Use Map to lhe Colller countyGiowth Mana8emenl Plan, ,z Gglf (our5e5 and/ortolf daMng rdnSes. ,a ollandg6tleldd.veropmentstrdprododlonsublecttostateflelddevrlopmentpemlts. ,r. Sportr lnitrudlonal s(hools and (amps. 20. sDortins and re(eailonal cdmps. ?r. R€tall plant nurserlessuble(t to the follovint (ondltlont: 162 COLLIER COUNTY BOARD OF COUNTY COMMISS10NERSCARLSON,NORRIS AND ASSOCIATES,INC. l. RetallJalei shall be l,mited prima.llyto the sale ofplanls, de(or.tive produds su(h a5 mulch or 5tone, fertilrzers, pestl(ldet and othet ptodu(ts and tools accettory lo or requlaed for the plantlnS or malotenan(e ofsld planls. ll. Addltlooally.thesaleo[freshprodu(clspermlssibleatret.llplantnurierlesasaolncidenlaluseoflhepropertyasa,etaitptantnurlery. lll. Thesaleofl.rtepo!'r€.equlpmentsu(hasldnnmower'tradors.andthellkeshallnotbeplrmlttedlnassocta[onw[haretafiplant nu,rery lo the rural ntrl(uliural dlstrlct. 22. Asphdltlcandcomretebat(hmkinSptantslobj€cttothefolloeingrondilions: l. tulhalti(or(on(retebat(hmatin8plantsm.ybepermlnedvrtthinthea,eadeslto.tedaS,lalturalontheluturelandu5emapofthe futur€ land use elemenl ofthe groedh management plan. ll, fhe minimum llte area rhdll oot be le55 than teE d(res. lil. Prln(lpal a(e5s ihall be f,oma street desl8oated collcctor or hlSher(lasiill(atlon. iv. Rawmnt€ri.lsstor.8e plantlo(ntlon and Seneraloperations around the plant shall not be lo(at€d or@ndu(tedvithln lOO reet otany €rierlor boundary. v. Thehe,8htofravrmatelialstora8eaa(llltles5hallnotex(eedahelShtoffifty(5}0lfeet. vi. HouE of operalion rhall be limfted to tv.o(2) hoursbefgre sun,lse tosuoset. vll. Itemlnlmlm5eib.(kfromtheprin(lpdlrcadfront.seshollbel50le€tloroper.tionalld(lllttesandsryeoty.rlve(T5,leetJorsupportnt .dmlnlstrdtive offl ces and asgoclated pdrllnS. viil, tu earthen brrnl a(hlevrnt d vertl(al helght of elght feet or €qulvalent vegetatlve s(reen vith elShty t8O) perccnt opa(ity one (t ) yea. dfter l5ruao(e of(ertlfl(ate o, oc@p.n(y shall be (oEtru(l€d or (realed 3round lhe enure perlm(ter ofthe prop€rty. lx. Iheplantshouldnotbelo(at€dvrlthintheGreenllneAreaofCon(erolorthetloridastdteParkSystemaJ€slablirh€dbytheDep.rtmentot Cnvironmentil P,ote(tlon (DEPI: rvlthh the Area olarltl.at Sl.te Con(ern as depld€d On the Future Lind Use [,tapct\lP;rvllhh 1.000 feetof a natual reseNallon; or\?ithln any County, State or tede.allurisdidlonaly/etland ara. 2r. CultuIal, (olo8l(al, o.,e(reabboal fa(;iues u,lt p.oUa" opportunltles for edu(dUondl experlen(e, €(stourism o, agr!tourtsm and theii related model oftraosportin8 pnrti(ipants, vjerR,s or patroos y.he.e appll(ablc subje(l to all appltGble fEdernl, slnie and loral pe,mlti. Tour operalioN,such !s, but not llmited to alrbfitt $v.mp buSgler ho6es and slmlla. modes oftaansportdlion. lhall be subled to the tolls?iog (alterla: l. PermlG or leti€riotexampuon t om the U.S.ArmyCorpiorbgln€e,t the florlda Depirtment ofEdlronmentdl Prot€.tion, and the SouIh FlorldaVrate. Manttement Dltul(tlhall be presen(ed tolhe plannlnS ieM(er dkecto. prlor to slte development pl.napp.Nal, ll. Ih!petiuonershallpostthepropertyalongthe€ntlrepropenyline$,lthootrespilslngslgniapprorlmatelyeverylmyards. lll. Thepetitlone,shallutlllzeonlyt.allslde.tifiedandapprovedontherltedevclopmentplan,Anyerlsungtdlrrshallbeuull.edbelorethe eitahl15hmenl of nerv trall\. lv. Motorvehl(l6shallbetqulppedRltheotlnesnhlchln(ludesparkarre5tor5andmumer!de5ltoedtoreducenolse, v rhemaximumsl.eofanyvehl(le,thenuobe,olvehl(les.andlheparsenter(apacityofarD,vehl(lerhdllbed.t€rmlnedbytheboirdof ronln8 appeab durlnS the (oodltlonal ure pro(ess. vl. L(otoavehl(lesltEllbepamiledtoopetaiedurlnsday'lShthourswhl(hmeantonehouraflersunrlsetoonehourbeforesuoset. vll. l,lolestauon o,r.rldllle io(ludtng feedlo& ihdll be prchlblted. vlll. Vehkl.ishall(ompryvrithrlateandUnitedSlatesCoartGGrd.eEutatlonJ,ltapplicable. lx. IheboardofzonlotappealsShalltefe?rru(ha(ondltlooaloseroatouroperatlon!,annually.lfdurlnttlrereviey4atanadveattsedpublt( hearln& rals deternhed bythe b@rd ofronlng appealr that thelou.ope,allon ls detrimentdl to the envlronment and noadequ.te thepetitioner the boardof ronlntappealsmdyres(todthe(ondltlonal use. 24 furicuhural adMtles on parcelr les5 lhan 20 a(aei ln 5ize: l. anlmal b,eedln& ral5lo8. tralnlo& slabling, or kennellnt. 163 COLLIER COUNTY BOARD OF COUNTY COMMISSiONERSCARLSON,NORRIS AND ASSOCIATES, INC. O dЫ 中嘔 “ I :lvestock ralslo, M m“k producuoc~ v. pOun●and eggprodu`“o■●nd 吼 ran`hing み The commerclal producuoι ralJ“。「bFeedln3 0fα Ott anlmal、ot簗 `than animalsり pに Jツ used fOr agrに uヽ ural pu′pOses or produo00. subjectto therdl●・ang standards: ― L M口 mlln 20 acre parceisに 26, Esscntlal sewl.es, .s set ,orth ln subse(Uon2.oL03 6. ?Z Modelhomerdndmodelsales(.nters,rubjedto(ompltan(er.rithallolhert0C.equt,ementaiolncludebutnotllmttedtole(h!..1!Etql. 2a AndllaryplanB. d, ?rohlblted 6es. l. ffoln&malntahin8oroperat,nganyfdcilityorpanhe,eoftorthefollorrogpurporestsprohtbtted: al FighUnB or baiur8 any anlmal by the onner of su(h fadtity or iny other peEon or enilty. b) RalJlnt.oyanlmloraolmalilnt€ndedtobeulrlmatelyusedorusrdlorfi8htinsorbattlntpurposes. () fo.purposesofthltsubte(tlo&thetermballl^8Bdeflnedassetfonhln5828.l22(2xnr,F.S.,asltmaybeam.ndedrromtlmelgljma. 164 OF COUNTY COMMISS10NERSAND ASSOCIATES, INC. RiCK SCOT「GOVERNOR L:CENSE FOR J.LEE NORRiS,MAl,SRA DEPARTMENT OF AND PROFESS10NAL REGULAT10N FLOR:DA ESTATE APPRAISAL BD KEN LAWSON,SECRE「ARY ふ :: ド 葺:SEQ# STATE OF FLOR:DA 165 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS CARLSON, NORRIS AND ASSOCIATES, INC. QUALIFICATIONS OF J. LEE NORRIS, MAI, SRA STATE.CERTIFIED GENERAL REAL ESTATE APPRAISER RZAA EDUCATION: Florida State University - 1978 Bachelor of Science - Real Estate Edison Community College - Associate of Arts Degree PROFESSIONAL EDUCATION: Narrative Report Writing Seminar - 1980 S.R.E.A. #101: Florida State University - 1978 S.R.E.A. R-2 Exam - 1981 A.l.R.E.A.: Course 1-8, Part '1, 2 & 3 - 1983 Farm and Land lnstitute - Citrus Seminar - 1982 A.l.R.E.A.: Standards of Professional Practice - 1984 S.R.E.A: lncome Property Appraising - 1984 R41c Florida League of Financial lnstitutions - 1986 S.R.E.A.: Uniform Residential Appraisal Report - 1987 S.R.E.A. #202: Applied lncome Property Valuation - 1987 A.I.R.E.A.: Rates, Ratio and Reasonableness - 1988 S.R.E.A.: Professional Practice Seminar - 1 988 S.R.E.A.: Depreciation Analysis - 1988 Appraisal lnstitute: Appraisal Theory and Overview - 1992 Appraisal lnstitute: Banking Regulations - FIRREA - 1992 Appraisal lnstitute: Rates, Ratios, Reasonableness - 1992 Ted Whitmer Seminars: Comprehensive Appraisal Workshop 1992 Appraisal lnstitute: Standards of Professional Practice - Part A & B - 1992 Appraisal lnstitute: Appraisal Review - lncome Properties - 1993 Appraisal lnstitute: New Uniform Residential Appraisal Report - 1993 Appraisal lnstitute: Understanding Limited Appraisals - 1994 Appraisal lnstitute: USPAP Core Law Update - 1994 Appraisal Institute: Electromagnetic Fields - 1994 Hondros Career Centers: Home lnspections - 1995 (40 Hours) Appraisal lnstitute: USPAP Core Law Update - 1995 Appraisal lnstitute: Appraising Retail Properties - 1996 Appraisal lnstitute: Standards of Professional Practice - Part A - 1996 Appraisal lnstitute: Standards of Professional Practice - Part B - 1996 NAIFA: Fair Lending Practices - 1997 SFWMD: Rural Properties in Southwest Florida - 1998 Appraisal lnstitute: USPAP/Core Law - 1998 Appraisal lnstitute: Appraisal Office Management -1998 Appraisal lnstitute: Core Law Update - 1998 Appraisal lnstitute: Attacking & Defending an Appraisal in Litigation - 2000 U.S. Department of Justice: Everglades/Big Cypress Market Study - 1999 Appraisal lnstitute: Defending an Appraisal in Litigation - 2000 Appraisal lnstitute: Appraisers Florida Law Update - 2000 Appraisal lnstitute: Course 430 - Standards - Part C - 2000 Appraisal lnstitute: 4'10 - Principles of Condemnation Appraising SFWMD: Appraisal Fundamentals, Project lnfluence/Natural Resource lmpacts - 2001 Bert Rodgers - Online - Florida State Law & USPAP Review for Real Estate Appraisers - 2002 SFWMD: Current Appraisal lssues in Florida - 2002-2005 {66 COLLiER COUNTY BOARD OF COuNTY COMMiSS10NERSCARLSON, NORRiS AND ASSOCIATES, INC National USPAP Update Course - 2004, 2006, 2008 The Professional's Guide to the URAR Form - June, 2005 SFWMD: 2006 Appraisal Seminar - April, 2006 Florida State Law for Real Estate Appraisers - August, 2006; September, 2008 Reappraising, Reassigning and Readdressing Appraisals, May 2OO7 Appraisal Challenges: Declining Markets and Sales Concessions - May, 2008 SFWMD: 2008 Appraisal Seminar - May, 2008 Supervisor Trainee Roles and Rules - September, 2008 Appraisal lnstitute: Business Prac'tices and Ethics - December, 2008 Florida Department of Revenue - Value Adjustment Board Training - Sept., 2009 Appraisal lnstitute: USPAP Update Course - August, 2010 Appraisal lnstitute: Supervisor Trainee Roles and Rules - August, 2010 Appraisal lnstitute: Florida Law Update - August, 2010 Appraisal lnstitute: Forecasting Revenue - October, 2010 Appraisal lnstitute: The Uniform Appraisal Dataset from Fannie Mae/Freddie Mac- Aug, 2011 Appraisal Curriculum Overview (2 Day General) - November, 201 1 Appraisal lnstitute: Appraising Convenience Stores Online Education - Dec., 201 1 Florida Appraisal Law - May,2012 Appraisal lnstitute: National USPAP Update Course - May, 2012 Appraisal lnstitute: Online Using Your HP12C financial Calculator - Ocl 3, 2012 Appraisal lnstitute: How to Systemize Your Appraisal Business - April 17, 2013 Appraisal lnstitute: Online Appraisal Curriculum Overview-Residential -April 21,2013 Appraisal lnstitute: Online Appraisal Cuniculum Overview-General - April 28,2013 Appraisal lnstitute: Online Appraisal Cuniculum Overview-General -May 1 , 2013 Appraisal lnstitute: Problems in Critical Thinking - February, 2014 Appraisal lnstitute: Florida Appraisal Law - Aptil,2014 Appraisal lnstitute: National USPAP Update Course - Apfl,2014 Appraisal lnstitute: Statistics, Finance and Valuation Modeling - September, 2014 Appraisal lnstitute: Trial Components - November, 2014 Appraisal lnstitute: Supervisor/Trainee Course for Florida - June, 2015 Appraisal lnstitute: Florida Appraisal Law & National USPAP Update Course - April, 2016 Appraisal lnstitute: Mysteries and Misconceptions - USPAP and Appraiser Regulation - July, 20'16 Appraisal lnstitute: Major User Perspectives on Real Estate Appraisal - July, 20'16 Appraisal Litigation, Legislative and Regulatory Update - July, 2016 Appraisal lnstitute: Mock Trial and Prepping for Testimony - July, 20'16 Appraisal lnstitute: Comm Vendor Mgmt: What Keeps Procurement Exec Up at Night?- July,2016 Appraisal lnstitute: Market Analysis - Application into the Overall Appraisal Parts - July, 2016 Appraisal lnstitute: Seven-Hour Seminar: FHA Appraising for Valuation Professionals - July,20'16 Appraisal lnstitute: Appraisal Business and Ethics - October, 2016 EXPERIENCE: 7/85 to present: Carlson, Norris and Associates, lnc. 3/82 to 6/85: Stewart & Stephan, lnc. Fort Myers, Florida 6178 to 3182: Webster & Associates, lnc. Fort Myers, Florida 1990-2005, 2009-2016: Special Magistrate, Lee County Value Adjustment Board 167 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS CARLSON, NORRIS AND ASSOCIATES, INC. PROFESSIONAL MEMBERSHIP: 1989 - 1990 - President, S.R.E.A. Chapter 186 MAI Member #09852 - Appraisal lnstitute - 1993 SRA Member - Society of Real Estate Appraisers - 1983Certiflcation - State Certifled General Appraiser #0000643Member - Board of Realtors State of Florida - Registered Real Estate Broker Properties appraised include: subdivisions, retail centers, motels, commercial buildings, industrial buildings, warehouses, mobile home parks, professional offices, medical offices, office/warehouse condominiums, single family homes, duplexes, apartment projects (3 units and more), individual condominium pOects, residential lots, acreage, wetlands, special use properties, ranches, conservation easements and other miscellaneous properties. Appraisal clients include: banks, savings and loan associations, attorneys, corporations, builders, developers, mortgage companies, home transfer mmpanies, private individuals, and local, state and federal government agencies. Has been qualified as an expert witness in Lee County Circuit Court and Federal Court. Has been qualified as an approved appraiser for the Florida Department of Transportation, the Florida Department of Environmental Protection, National Park Service, the Lee County School Board, Lee County Division of Public Works, and the South Florida Water Management District. 168 Appraisal Report HHH RANCH 962 acres 溜S uSES tS∞I WARRANIED Table of Contents Cover Letter Maps Subject property Scope of work Appraisal Process TDR,S Closed Sales Chart Land Value Mining valuation scope Mining ca lculations Overall Va luation page 34579 10 12 14 18 22 232 The appraisal report is based on the extraordinary assumption that the subject property can be permitted to be mined and no environmental, extemal factors unknown will prevent the subject property form being devolved after mining operations. The mining operation is based upon a 35 feet depth for mining. A chart indicates this depth is the most probable for extracting limestone. The rock pit will yield only 70% - 80% of the potential pay load. Typically, rock mines in this area are permitted to a 50 feet depth however, the material extracted may not be Dor quality. The estimated potential life of the proposed mine is 25 to 30 years. Royalties fees were not considered in this appraisal report. Typically, aggregate royalties range from 10 to 4yo ofthe going material rate. The estimated value for the land with rock mining is $25,500,000 to $34,000,000. A geologist firm should confirm the Iimestone aggregate yield and the Florida Dor shoutd be given the opportunity to test the bore samples. 蛛 里 聖 P・・・ PER"∝~~S 陶lines and Landfi∥ NORTH BELLE MEADE SPEC:AL USE AREA SUBDISTRiCT COLLI[R COUNTY GROWTH MANACEMENT PLAN AMENDM[NTFUTURE LAND USE ELEMENT tO(●1:〔ン 174 5,C],ON ,9 ユ, ^、o ,セ 〕OINSP:' 4り "Aヽ L: ′′ 0●LLICF こ0∪Nlマ i t okltlA Subject Property Panel lD 0O33O4aOqre 0O32856U)2, OOl2SetA)3,0033t32D6,034196fiXr3,OO3{XXm3, m:B(f,4(xx)8 SellerEntity: Sean ltilcade HusseyTru*, Frands D. & Mrry P llusrey, Jr. Complete legal descriptions located in the addenda Parcel Access:A dirt road known as Blackbum Road extendhg fmm he end of Whb Lake Boulevard h an easte"dremon tO lhe southwest∞nler ofthe subled prope● たRFMUO_Sendhg_NBMO and たRFMUO―Recelvn9NBMo RFMUO_Sendlng_NBMO RFMUO_Rece"ing_NBMO Soils Map Zonlng: Land Usc: 盟 H出 中 nt―卜響 わい嫌 … SH・ U‐・ eDSuい 嘔●●I¨ 崚 …"曖R‐ … ―616 -…s・l' ―輌却 … Ⅲ I‐●El―― 〔: 0 鴻l10ヽ ・゛Eく ヒ 0 勁 1∞0 1500 2●∞fl ―4 ScoF ol Wo*: The Unilorm Standards of Professional Appraisal practhe (USpAp) define the scope of woft 6: the We aN extent of restr,arch and anarys€s i? an ass&m menf . .The sc{pe of worl< indtrtes, but is not limited to: p exterrt to whidt tl:E p,oryty is i&ntif€d,, the erte b whidt taryible WWfty is n9p,e€ted, the We and a$ent of martet res.ardt aN the type aN extent of anaysis aNied to affiw at ophioos or condusims." The scope of work has b€en b colbct confirm, and report data. Other general market data and conditions have been considered_ Consideratbn has ben given to the propsrty's ma (et ar€a, physical daracteristics as lwll as zoning, land use and highest and besl use. The !vo* psformed for thb assEnment hcbded but is not limited too: Redevelopment (after mining operations) "as is improved" (part 1) Potential mining (before development) "as is vacant" (part 2) HiBhest and best Use Analysis The prhcipal d highest and best use is delined: 'Ihat reBsona bty prcf,abte u* and tegat use ot vacanl l d or an imprcved propetty ttat is ph}f,cafry posstble, apprcpriately sur{,oned, finBncEW feasiblo, aN that rcs/,lts in tlv higl:€.g vah@." The four qiteria the h@ed aN beS as€ must meet arc bgal permissbry, physbat possbility, financial f@sbiry, aN nwimum profitabilv_ Pemissible U* (Legal) - what u*s are Wrm ted by zoning aN &ed r1-strictims on the site in qt/p'stilrl.? PosslD/€ Uso- fo wr,at usos ,s f pr,ysba/ry possible to ptn the site in quegiotl? Feasible Us€., whid WsF,ble aN permissble usf,s will ptodu@ any net retum to ttF- owrar d the s/,te? H8rhesl and Des, Use- anpng the feasUe us€,s, which u* will ptdu@ tlP- higheg net rctum or tll€ higlpst prestr.nt wofih?' F.. Slnph lntr,!!t is ffined as: "Abstute ownership unenumbred by any other inbrcst or esfate, subjed only to tl7€ limitatims imwsed by the govemmentat ,f/tlF.rs of laxatiq, erinent clunain, Nlic€ power, and esdtee,t;'1 lntHdcd urc and Ular of Apprubrl: The intended use of he appraisal is to assist the user, he Colfier County Govem]nent in the potential acquisitirn of the subiect property_ tartct Vahc Ddlnltlon: As defhed h the Agerrcies' appraisat regulalirns, "The mog prcbabb pice UBt a popny $uld brtuE n a @mpetilive and qen ma*et un&r att @nditbns regu,srte ll, a fai s€b, tl'p buyer and sller @ch acting prudenv and knafltedgeabty, and assuming ttl€ pti@ is not afrected by utdue gimulus. lmplidt n this defnitbn arc the consummabon of a sate as d a sp€,clied date aN the Wsshg of title hom se/P.'r to buyer under anditnns whereby. . BuWr and seiler are Wically mdivated; . Boh pattgs arc we inforflEd or well advi*d, and actirp in what they ct,nsidF'lr their besf,nterssts; o A rasnable tifire is allowed for eryosrJre h tll€ qen ma*et: . Paynpnt is macle in tems of @dt h U.S. dolbrs or h tems of financhl anangenents @mparable thercto: and c TIre pie represents the normal ansjderatwt for the prcNrty sM unatrectfd by special or c,eafive fnancing or s€,bs ooncess,bns grarrted by anyone assoc,ated wrtfi the sale." THE APPRAISAT PRocEss Iltere arB thre standard appaoad€s to prcperty valuEtion: . Cct Approach to Value. Ssl€s Comparison Approsch to Value. lncorne Approach to Value Eadr of thece three approachB rlsually will irdlcata a BlighUy dlffsrent \ralue. Aiter all d the tactoB of th€ three approaches have been carefully weigned, the indicatoG of value are coflelatd to anlve at a tlnal oplnion of value. Cost Approach to Value The Cost Approsch to Value requires estlmatlng the replacsment cct n4 of the lmpro|er|ent3, utlllzi ng cunem hbor and material prbes and modem constructbn t€chniques. Accnred depr€ciation is nert computed andsu racted trom the co6t new. Flnally, tho land value ls added to the r€rnainderto derive a value for thB property aa a whole. Th€ CoBt Apprcch ls mct rBllable when the improvBm€nt8 are new and the hnd valu€ can be reaonauy estirEted. ConveBely, when the improltements are old andlor sdequste laM sab3 8ie not avallable,tie Cct ADp.oach teMs to lGe credence. Sales Comparison,4ffrcach to Ualue An Etimate underthe Ssl€s Comparbon Approach to Value b derlr€d b, compadngthe propelty under appratssl with oth€r similar propertiB that harc sold in r€cent months. The sales compar'Eon &pr6dr is m6t relbbl€ when lh€ comparable sales are yery similar to tha suoi€ct Conversely, when lalEa or numeroug adiustments ar€ necsssary, the Sal€s Comparison ApD.oach b lsss relhble. lncome Apptuch to Ualue The lncom€ Approach to Vs lu€ b norrnally appli€d c{ ly to commercial or sirictly lncorne od€ot€d proporfl€ai slnce it measures tie pae€ent worth d tuture righis to incorne. Th€ lncome Approach to Value, sh€n adequate incorne and €rpsnse data are arallable, is pobauy thc rnd rsliaH€ approach in th€ valuatbn of commercial propetti€sI tt b€6l repres€riB inwstol3'and l€lxrsr3'aclions ln ttre mark@lace Aooruches Develood As the subiect of thb appraisal is a vacant tract of land, r? haw udliz€d the s8l€s comparison Approach to vslue coBidering bdh lsrge vacant land sahs with a similar hEh€st 8rrd b€t llse and an analysb of Trdnshnable DerElopment Right credits, As they are not appllcable to the pmperty typ€, the cosr Apprmi:lr and lncome ADproach halr not been nifzed. Valuation Analysis(Part l) Due to the attached se■lement agreemcnt,the suttect prOperty land has been designatcd scnding and receiving lands.The settlcmentindicates an acreagc greater than 962 however,in this valuation only 962 acres is being considered.Thc sutteCt property consists of578 acres receiving land and 384 acres sending lands. The suttcct prOperty will be considered in two highest and bcst use scenarios'``as is vacant land and as is improved". Part l.…as is vacant land“improved"containing 578ac receiving land and 384ac scnding land. Ettorn]聞 lly nd Fin日 にidけ Fe‐劃b: A3"側lLIre att rem薗 厨劇 uses輛 bp嶋ぼ口町 耐 鮨 lnd H要 町 p田 画 “ 由ledond tt he樋 載 d eoo「Drnic att nttRね ily nible.Land 麒疇h msptt orcOl;ierCom m uceeded哺 誠are熙 けpOM tt η ……h ttg纂 ぉJSm―t Fbrim_磁 由曲1由 鴨ヒ脚晰口伽鵬b be tt eoonomに 面町 館j曲 :popuは im mc―es a肩 撫)need for厠 面由J cmlmerctal hnial脚 甲輌籠.We do 蹴鶏■le虻 脚pro「対魅u―tttimi《睡珈面鰤醐 .師 Ц ttaα闘 a」lЛ 雌Ls are:力 ぃ颯コldロ ロ耐日も曲澪 枷饉 輛∥have b be o蠅 贋目me ad u闘 ―り耐 he ELle r he r翻 枷劇as n輌 曲回LI Based won the set鰤 … the Snied 岬颯y Can be由 鴨med臓 578 tmた ,115 orhese□僣00rntt mm he remivitt lands,230 劉田bJ Lmtt αm町 無m掃 "哺 日■portim d撻 劇bieCt Orttt sentt laMsは lutt an 瑚 im12331mb to be脚 耐laed h憮》mrk●la"bri町 増heCttd崚調電対b578 1mtt on 搬 578 ams orは由増 ロロS_ Collier, Lee, & Charlott€| Populatlons ,25.000 675.●●● 525“ 475.●●● 425,●●● 事・・・・ 275.― お .●m■75.●●● 瑯 .●●● … ac■ … … 2- 2m2 2m● 2009 2●■0 30■■ ●o■2-C・ :・ :er _疇 一 char・・ tte The following b a breakdown ofthe potenthi TDRs which∞u:d be achieved on the subim prOpedン according to Co∥ier County Govemment,Pbnning Depanment B‐e TDRS Ea町 鵬 け TDRs RMPIDRs'oonttmelDRs'會 剛いllD陽 76_8 r6.8 7680 2コ .4●Rdomon and MuntettnOo Han藤 耐 d bOn… "SnwyatrG TDRS ale assumed tO be 0 re thers E nO ilceptaue entty wlllirg to asum€ ovrnershlp and rxmEement responstHllu in sendinE In thb arEa in addttn,a totai cr 578 actt ofthe subiect propetty is iOcated within RFMllD‐Receiving Lands.Acoording tO Coilier County Govemment Planning Department the suuect prOp針 り haS a baset allowable denstt of■■5units(578 acres/5 untt perauv=■■5.6 unlts rounded to■■5 units)_Furthermore,the p質 》penγ has a potentialdengty of■unlt per■auυ by maximizing TDR credits_ The pЮ pedy could achieve 578 dweiling unns by aoquiring ttDR cred,b fЮ m Sending Lands.Moreover,r the propeny is deve:oped as a Rura:V■:age(RV),there wouid be a poterttaifor a minimum de緊 戴y of■.5 dwel∥ng unむ peracre upto a maximum denstt of 3 dwe∥inguntt perauv.丁he fO:lowing is a breakdown orthe subiect parceis:ocated Ⅵ晰hin the RFMt'D‐Rece"ing Lands ぉwe:l as the est:mated potential TDRs on the subiect pЮ perv with and without a Rura:Vilb鬱: Valuation based upon the 578 units Proptl0al for Sal! 4697 ol w●I Road Naples FL 34114 3115“ “ コd鮨 POnd D子N…,FL 04116 Or Kan tuck Elr Napl●9 FL 34117 Wh●L晨 o口 "&簑 an″aler St cOuca ole,FL 34116 3100 Com子 B同 Na口b3.FL 34114 Propcily Typc Land Land Land Land Land prope"け Sub,p●Con田 旧 “ 山W噛 Oam口)R■denlal(:and)Re“dental(,and〉R“dclllal(!and)Residenlal(land) Zonlng AC w ulaprm¨na!u3e C―Estate D18●た3 RPD oundinO s,2● Vear Built No Storle● Lot Size 654 AC 47 AC 17 AC 14 AC 106 44 AC APH′Parccl,D A3腱 ino Pnce S9,250,000 S8500000 S230.000 S200000 S16.500000 Pncc Per C●●Rate S14,14371′AC S100.85106′AC S13.52941′AC S14,285 71 rAC S155,01691′AC Propcaty llcacriplioo 654 as.t ttilh . pc.miticd minlng condilion.l utr on ardculturally zoa.d Fopa.ly locabd on M.!noli. Pond PUD proircl r! a9provcd for a maximum o1231 rl*tcnli.l unilr Cofcr Bl\/d, rfln Agri.ullurrl Zoning Dirtict .nd Fulur. L.rd Usc Ru..l NOT A FoRECLOSuRE OR SHORT Sい 」El O●at,4a" vacant闘 enlal Thc aubiccl proDady, lorown aah. Rock d9. RPUO. p.crcfitr . r.rc opporfu.*v b Roctcdgc ir locatad on Cotar Bouhv.rd irtt touth ol0E Ptytij.ns LocmonO―■p●on On OI Wel Road ett d卜 75(Colu COunV) Loc.lr, o.| lhc lnb€i.i! 75. o.r.- h.lf ltd. wlat ol C.R 951 (Coai.{ OtFttm Luck Or,E orC―D"& N of175 ハめnl l‐75 HOte3 10 Sales comparison map1 日 '一 Estimated value conclusion for part 1....as is vacant land "improved" containing 578ac receiving land and 384ac sending land. The current listings data $14,144; $13,529; $14,236 supports the closed sales estimated value of $14,200 per acre. The estimated value 578 units /acres is $8,208.000 dollars. Ave Malal 12 Pen S:「and :』 =: _~意 .責 スi「￢ 麟 a″dR。。々倒γ Swanρ 回 Lll ⇒ Valuation Analysis (Part 2) Due to the attached settlement agreement, the subject property land has been designated sending and receiving lands. The settlement indicates an acreage greater than962 however, in this valuation only 962 acres is being considered. The subject property consists of578 acres receiving land and 384 acres sending lands. The subject property will be considered in two highest and best use scenarios' "as is vacant land and as is improved". Part2....as is vacant land "rock mininq operation" containing 578ac receiving land and 384ac sending land. The 578 acres is broken down into 2 parts. The proposed mining area is 260 acres out of the total 578 acres receiving land area. An extraordinary assumption is an assumption which if found to be false could alter the resulting opinion or conclusion. A hypothetica! condition is an assumption made contrary to fact, but which is assumed for the purposes of discussion, analysis, or formulation of opinions. lt is assumed that a mining operation will be permitted within a 3 to S-year period with no externalfactors existing, such as public opposition or environmental factors. 13 Methodology and Scope Vacant land "rock mining operation" containing 578ac receiving land: The scope of this valuation report is to value the potential subsurface rights along other related limestone materials however, there are limitations to the drilling area and drilling depth. Drilling reports were reviewed ofthe receiving and sending lands area. seven drilling core samples were taken and analyzed buy a geologist in the North 260 acres, five drilling core samples taken in the middle of the receiving area, and five drilling samples were taken in the sending lands for a grand total of seventeen drilling core samples taken. Area of concentration: A conditional use permit will allow the 578 acres receiving land to be mined, in this appraisal valuation only the 260 acres out ofthe 578 acres will contain the mining footprint. Per numerous experts in the field of rock mining, most of the lime rock is located at depths of 35 feet and concentrated within the 260 acres ofreceiving land. No drilling is permitted within the 384 acres ofsending land although five drilling core samples were obtained. I . Site inspection and GIS map overviews. 2. Reviewed engineering reports and boring sample charts. 3. Interviewed 4 current and previous rock mine operators. 4. Received input from land planners, geologists, brokers, and govemment agencies. 5. Employed the standard equations for mining industry. ク霧 一'4′`′ 「 「 ~~コ ￢ | ゞ“ ￢~くドキ`∫ ず :' 「 …」__ _ くドlt' ユごο化 ギコ イツ くゞ :` ― 「 二 4￢`ギ ザ ヾ ギ ギ …1―・ 14 ′rMACl'Ec L_|脅 …Cn… sc・ tt Afew current mining operations Florida Mlnes: . Flori.L iock - 25th Str.et Mlami. Florida - 2,00O,OOO cy of material over three years. . Florld. Rock - Fort Myert Florldd - 2,000,000 cy of ro(k ex(avaflon completed ln two yeals. . Florld. Ro<k - Gulf Hammo(k Florlda - 1,5@,000 c y of rock excava0on completed ln 2 yea6. . Whlt. Ro.k Qu.rry - Mlaml. Florlda - 1,9OO,0OO q/s of owrburden and rock excavation, 500,000cy of rod exadton and 5OO,0O0cy ofro(k crushtng ln a two year period. . llnlrr Crtcro io.d - Fort Myer5, Flortda - 2,500,00O(y of ex(avaflon. . ,r.rk Qu.ry - Central Florida - $0,000cy . Apac - Naples, Florida - l,5O0,00Ocy of ro<k ex(avation. . 3onit. 6r.nd. - Bonita Bay, Florida- 600,000.y of material ProJecB ln Florlda wlth oyer I milllon cy of materlal sold: . Ulr.mat lock / SurB.t L.k6 ln Mlramar . lm.tlmtlon F.rms ln Davle . trltrlon 8.yln BoCa Raton . Wln arn ?aak ln Co(onut creek . Emb.3stt lak.t in Cooper City . ?.lm Alra CountD, Club in Pompano Beach Orl!er Mac Asphall lnc. Flo.lda Rod( Co.p. Mecasphsll lnc Iln.i h N.pb3, Flodd. f,ln B.rkehlre Lake Golden G.te Qirany Goldan G.te Ou.ny GoHen Gate Ou.ry Harper B.olfiers - B€.k3hl.6 Lk. Qu..ry Mecosphalt - Golden cal6 Qua.ry Maples Lim€rock Sodh Auarry Neplss tlmeroc* No.th Quarry South€.n Send end Stone - l/V ow Run Virgil M.rcom Pit Warren Eaothda Co Hlghway Pavo.s lnc Leon Mc Co.nic* And Son lnc Llnd St lur P,lvate Pdvste Private Priv.te Prival€ Privete Work Type Ilr-aalr Llmeltono S'ton6. Crulhed Stone, Crushod Slon€, Cruahed Liineslone LirDe3tono Slons, Crushed Stons, Crushsd Llrnestono Stone, Crushed lnllArrprl Snap Shot of current mining activity|u J、 「:Goldし n Cate ,「)| Willow Run/Southern Sand and Stone East Naples Land Mine / Golden Gate euarry APAC SR-846 Land Trust Hogan lsland Quarry Belle Meade Partners Florida Rock Berkshire Lake 公 16|'Clutr-ar- Med ile Fa 嚇 ‐ lmmokalee !ples| In Lee County, there are 125 active sand / limestone permits under review in various stages, In Collier County, there are 87 active sand / limestone permits under review in various stages Checkhg oher mine excavatbn profr)cts h Collier County, we note a totalof 10 active mines at the present time. These active mines are knoran as 1) Seacon Pit, 2) Wilbw Run Pit, 3) Sunny Winchester Lake, 4) State Road 86, 5) Eartr Mine, 6) Logan Lakes ll, 7) GoHen Gate Quarry, B) East Naples Mine Phase ll, 9) lmmokabe Sand Mine and 10) Souh Grove Lake. Abo, cunenly there are two commercial mine projeds in review approval prclcess. One is known as Hogan lsland Quarry, the other is knoram as lmmokalee Sand Mine. Llmciton. Itints in Collicr County, FL tine Be*shire Lake Flodda Rock lnd. - Naples Quany Florida Rock lnd, - Sunniland Quary Harmon Brothers - Copeland Quarry Haryer Brolhers - Be*shire Lk. Quany Macasphah - Golden Gate Ouarry Southem Sand and Stone - Willour Run Owner Land Status Wott Type ilinaralr Limestone Umestone Umestone Umestone Llmestone Umestone Umestone Ll“訂 (】嗜:mOOrnoN O―AT10NH THE ST00V AREA … Eu.B C田 “ 噸 こnu m 17 Calculating the limestOne value(medium to hard density) So′the Volumeis 43′560 ftA2*l ft. Volume is than equalto 43′560 ft.A3 Dens:ty of Lime stone is around 2.45g/cmA3 2.45g/cmA3 isin metric so you need to convert to English units.The relationship between inches and cm is that one:nch is about 2.54 cm the re!ationship between grams and lbs.is that 1000 g is 2.2046 1bs. plugging these conversions in. 2.45g/cmA3*[(2.54 cm/1 inch)A3]*[(2.2046 1bs./1000g)] =.088511 1bs./inA3 But thisis not quた e ttght this is in the English system but you wantた in ib./ftA3.Since you know l ft.is 12 inches this is easy to fix. .088511 1bs./inA3*{12:nches/1 ft.)A3=152.947 1bs./ftA3 Hint)Think that method of converting took way to long?Here′s a tttck way to do it.ln the metric system l cmA3 of water weighs l g.Since the ske′Histed gave the densky ofthe limestone as 2.45g/cmA3 this means thatlimestone weighs 2.45 times as much as water.vVe∥waterin the Eng∥sh system weighs 62.4 1bS./ftA3 this meansthat you can lnd the denskyin the English system by s:mp!y multiplying these together. 2.45*62.4:bs./ftA3=152.88 1bs./ftA3 They are not quite the same because the relationships are not exact so there is rounding in some ofthe conversion factors.|!∥use the first value forthe answer. 丁o find the weight******、veight=Density* Volume*(acCeleration due to gravky) Weight=152.947 1bs./ftA3*43′560 ftA3*(acceleration due to gra宙 ty) Weight=6′662′370 1bs.*(acceleration due to gravity)A ton is 2000 1bs. 6′662′370*l ton/2000 1bs.=3331.19 tons Somc nlining operatiOns use up to 4,000 tons pcr acre,butit depends on thc thickness/density of thc rock.In this valuation 3,331 tons pcr acrc id used. 18 (l ) Rock Minine Valuations Acreage x 43,560sfx depth div 27 : cubic yards Cubic yards x conversion factor x swell/fluff x void : tons 260ac x 43,560sf x 35ft I 27 :14,681,333cy 1 4,681,333 x 1.27 x 1.25 x 0.7 5- 17,47 9,962 say 1 7,480,000 tons 17,480,000 x $1.00: $17,480,000 Land "as" $8,000,000 Aggregate $17,480,000 Total: $25,480,000 (Seller Retains TDR's) *Valuation factors: Road and access, permitting, mitigation, and potential down tum in market. (2) Rock Minins Valuations Acreage x depth x 1600cy:cy's per foot Using cunent prices, minus start-up Fill Dirt- 260ac x 10'x1600cy =4,160,000cy 4,160,000cy x $4.00 - $16,640,000 Limestone- 260ac 20'x 160Ocy = 8,320,000cy 8,320,000cy x $8.00 =$66,560,000 PGI $83,200,000 Discount 25yrs present -$20,800,000 Haul road -$2,000,000 Waste Rock (20%) -$13,312,000 Overburden waste (15%) -$2,496,000 Permitting/mitigation (Est) -$5,000,000 Total $39,592,000 say$39,600,000 *Mining the entire 260 acres will encumber approx.200-250 additional acres ofthe receiving lands. 19 Transportamon to Storage Transportatlon to& Cmshing at CnJshing Facl∥ty "|"● “ 購"1藝 211G ●.usef“疇|", 19,01DOle 晨5ofロ ーV週 19`燿 ト 獅 Av9. 鳳7い 0■●f― 動 銀 1●00・ 2●●|L.l Er. l,ll t n'I c.Y 七脚 AcPs 0■or-7oOe-3・ ftf.r LriCr (t oar{o) Ri'r, rt5* (r. olrb) Frir.r llrdJr Gm I{o) B.idr Rd 0rgtt.1.*.r) Fltidr R.d &Eft&! Fbd.tutGn llt&, lt te$fi E{dl.rs Cat[/Im 8d tud Bair 6.rd.AIq.r. hdh Lrd R.srE0 魯 1400 3!0 111 ,コ ″0輌 201 ■ロ 1 10 0 1“詢ロ 0 1ol “ 瑯 0 1“ 0 “1 101 0 117 10い 2∞ 211●470 5,33111 1117114 ““ ,m ¨||| 74●7 113m¨ 匈●lm0 41“ ““7421ま 旧 11110m Om¨ "コ 詢 8700411 11‐||| |コ 脚 8061閾 537 537 1 “曖 100 0 1m l" 1凛 0 1¨ 111 0 191 1170 ￢ “ 0 1● ,,コ 1“ 0 [“ :●1' 製" まЮ a“ 220 101 1 :|: “ 2輌 211 - “ | | ― " ●1 2" 137 32 20 " ― m 0 3 - 23 1723 “""∞ コ0 1lm747 6Ц “012颯 “●4m 332nm 4“ 0∞ コ澤A口 漸 “ 1“ 4β詢 頭 1010 a7 3′F14:211●1 191颯 011 3β ■ 1●,1颯"Ita &2: C+r.iy d ril' 5i, ryolra Typical Rock depth is l5' to 35' as shown in model, also this supports the 12'to 35' average in the Hussey's Mactec Report. . Florida ranks third in the nation in the production and use of aggregate products, consuming about 153 million tons per year. About 60 million tons of that comes from the Lake Belt region in western Miami-Dade County. . The Lake Belt region has the state's highesfquality limestone able to produce aggregates that meet state Dor and federal highway and aggregate specifications for cement, concrete, concrete products and asphalt, which are needed to build roads, bridges, runways, schools, homes, hospitals, office buildings and public facilities. 20 Transportation to & Storage at On- site Location Herbert, author of a recent DOT study on the industry, says the Lake Belt contains the hardest and most durable geologic formation in the state. Florida has six "mega-mines," he says, those among the top 10 in production in the United States. And five of those are in the Lake Belt. The sixth mega-mine is in Lee County, but it lacks rail access and serves only southwest Florida. Although limestone mines operate in 22 of Florida's 67 counties, Herbert says, only six clusters have signifi cant reserves : Miami-Dade/Broward; Palm Beach; Collier/Lee ; Lake/Polk; Hemando/Sumter/Citrus; and Taylor/Dixie. But those mines, too, face water-quality and other environmental and public health questions as development rolls closer. Palm Beach County, for example, has been debating the future of mining in the Everglades Agricultural Area. The uncertainty over Lake Belt mining is playing out against a backdrop of other forces rocking the industry. For one, a downturn in the residential housing market has sharply reduced demand for cement and other materials here. Florida's demand has fallen more than l2%o, saysEd Sullivan, chief economist at the Skokie-Ill.-based Portland Cement Association, compared to a4.4%o decline nationally. Sullivan expects at least another year of slack demand. The Lake Belt provides so much of Florida's materials supply that scarcity could be an issue despite lower demand from residential construction. The DOT, for example, remains on a buying binge of materials, an even larger deal with the port, where it will build on 36 acres. Other companies have been working to increase production at facilities in Florida outside the Lake Belt. Rinker plans to increase production by 900,000 tons at the Brooksville facility it acquired from Florida Crushed Stone for $350 million six years ago, Florida Rock, meanwhile, is doubling capacity at its mine in Newberry. And American Cement soon will come online with a 1.2-million-ton operation in Sumter County. In the short term, the issue posed by closing the Lake Belt to mining will be cost. Ananth prasad, chief engineer at the DOT, says the ruling "cuts out 30Yoto 40% ofjust our statewide supply" of limestone. He predicts the strain on supply could result in not only higher road-building costs to taxpayers but some projects being delayed. U.S. District Court Judge William Hoeveler was clearly disturbed by regulators' stewardship of the Lake Belt. "This court has never seen a federal agency respond so indifferently to clear evidence of significant environmental risksr" he wrote. 21 HHH Ranch / Dr. Hussey Properties Start with the overall vacant land (962 acres)Part l 1. lndependenl Fee Appraisers valued the 962 rcres at $8,200,000 2. In-House Review Appraiser valued the 962 acres at $8,208,000 The land value represents th€ value of962 acres before and after the mining operation is completed. Minins oneration valued based sales and Income Part 2 Sales Method (1) Rock Minine Yaluations (takine the ave. mine depth 35' denth) Acreage x 43,560sfx depth div 27 : cubic yards Cubic yards x conversion factor x swell/fluff x void : tons 260ac x 43,560sfx35ft.1 27 =14,681,333cy 14,681,333 x 1.27 x 1.25 x 0.75: 17,479,962 say 17,480,000 tons 17,480,000 x $1.00: $17,480,000 Land "as" $8,000,000 Aggregate $17,480,000 Total: $25,480,000 (Seller Retains TDR's) *Valuation factors: Road and access, permitting, mitigation, and potential down tum in market. Conclusion of analysis The land value with no mining activity is $8,200,000. This is based on the following: 1. Bonita Grande Aggregates Mining sale 712076 @ $7,500,000 2. Winchester Lakes Mining operations for sale $9,250,000 3. The vacant land sales chart located pg. 11 4. Rockledge RPUD for sale $16,500,000 5. Interviews and discussions with other reliable sources with knowledge of the Real Estate market. (l) Rock Mining Valuations Acreage x 43,560sf x depth div 27 : cubic yards Cubic yards x conversion factor x swell/fluff x void : tons 260ac x 43,560sf x 35ft I 27 :14,681,333cy 14,681 ,333 x L27 x 1,25 x 0.75: 17 ,479,962 say I 7,480,000 tons 17,480,000 x $1.00: $17,480,000 Land o'as" $8,000,000 Aggregate $17,480,000 Total: $25,480,000 (Seller Retains TDR's) *Valuation factors: Road and access, permitting, mitigation, and potential down turn in market. (2) Rock Mining Valuations Acreage x depth x l600cy:cy's per foot Using current prices, minus start-up Fill Dirt- 260ac x 10'xl600cy:4,160,000cy 4, 160,000cy x $4.00 : $16,640,000 Limestone- 260ac 20'x l600cy: 8,320,000cy 8,320,000cy x $8.00 :$66,560,000 PGI $93,200,000 Discount 25yrs present -$20,800,000 Haul road -$2,000,000 Waste Rock (20%) -$13,312,000 Overburden waste (15%) -$2,496,000 Permitting/mitigation (EsQ -$5,000,000 Total $39,592,000 say$39,600,000 *Mining the entire 260 acres will encumber approx. 200-250 additional acres of the receiving lands. 22 '. Htissev land valuation (usins no drill depth) (1) 260 acres will yield approx. 6,750,000 tons of limestone (1cy=1.35,on., 6,750,000 tons x $12.50 ton (aggregate price) = 584,375,000 Wasted limestone (3,000 tons per acre) (260 x 3,000 =780,000 tons x S12.50) = $9,750,000 (minus) Cost to recover limestone 56.00 per ton (6,750,000 tons x 56.00) $40,500,000 (minus) Discount to present value 11.2% for 25yrsl results in Land va lue Est Value Discount to present value IL.Z% f or 25yrsl results in Land value Est Value 534,12s,000 S25,325,606 say S25,326,000 S8,2oo,ooo (plus) s33,s26,000 S37,968,750 say 537,969,000 528,778,4O1say $28,179,000 $8,200,000 (plus) s36,379,000 Hussev land valuation (using no drill depth) (2) 260 acres will yield approx. 6,750,000 tons of Iimestone (1cy=t.35,on., 6,750,000 tons x 512.50 ton (aggregate price) = 584,375,000 Wasted limestone (15% of yield) 1,012,500 Tons x s12.50 = 512,656,250 (minus) Cost to recover limestone 55.00 per ton (6,750,000 tons x s4.00) s33,750,000 (minus) *Some mining experts use 15% for waste and 55.00 ton for cost to recover Income Method (using a 30' depth) (2) Rock Minine Valuations Acreage x depth x 1600cy :cy's per foot Using current prices, minus start-up Fill Dirt- 260ac x 10'x1600cy:4,160,000cy 4,160,000cy x $4.00: $16,640,000 Limestone- 260ac 20'x 1600cy: 8,320,000cy 8,320,000cy x $8.00 =$66,560,000 PGI $83,200,000 Discount 25yrs present -$20,800,000 Haul road -$2,000,000 Waste Rock (20%) -$ 13,312,000 Overburden wasle (15%) -$2,496,000 Permittingimitigation (Est) -$5,000,000 Total $39,592,000 say $39,600,000 *Mining the entire 260 acres will encumber approx.200-250 additional acres of the receiving lands. The Mec Tec bore drilling report indicates that most of the better grade limestone is at a depth of 35 feet. Overall Conclusion: Factors taken into consideration; the Hussey property owner is required to construct a road across section 3l connecting to white Lk Blvd, mitigation and permifiing is a very large cost estimated to be $5,000,000 to S10,000,000 also, there are no mining permits. Blending the sales land value with the three-income scenario's, ($33,526,000; $36,379,000; $39,600,000; $25,480,000 = $33,7 46,250 say $34,000,000 being on the upper scale, the 962 acre valuation range is $25,500,000 to $34,000,000. Roosevelt Leonard. R/W-AC Sr. Review Appraiser Real Property Management 82U2017 Good morning. 07 -274 )anes mining,pdf Attached is the Conditional Use from Jones Mine, which is located adjacent to Estates and RFMUD zoning. The CU includes a lengthy list of operational stipulations many of which were due to its' location, some of wh ich may apply to the Hussey property. Also, this weekend I reviewed the soil borings you provided. 7 of the supplied borings were in the area proposed for mining. The material that I believe is valuable in this area would be the hard limestone, below that is generally weathered limestone with silt and sand. Making !Xa! material useful at this site might not be economically feasible so for the soil tests that did apply, the average or reasonable depth we might conservatively assume at where the cost effective material would be, is to the bottom of the hard limestone layer, which I would suggest could average 35 feet. lf that is the depth used, the outcome of excavated material comes to about half of the number provided in the summary you gave me. Excavating to the 35 foot depth and to the bottom ofthe hard limestone would provide the bulk ofthe best material and better efficiency on material loss since that material islesssilty. ldid not calculate out the slopes that could not be excavated around the entire perimeter, but used an overall 25% reduction in volume to account for the slopes and material loss in excavation to be conservative. 匡~0:くド ト35 ^32 1eet 「 ‐ Here are the borings with the depth on a site layout along with some possible contours of the material layers that I laid out as one means of looking at the site. Obviously there could be other ways of looking at it and if more borings were provided, better information and depth contours. ‐く |〕 J'・1 ヾ"くLI THE M&TS JOUR∥AL Galculating Tons in the Ground The acreage owned 0r leased cannot generally be completely mined. Legal setbacks from roadways and property lines, utility and other easements, slope angles, previously mined areas, excessive overburden thickness, pinching or termination of strata, and non-mining areas set aside for the plant, stockpiles, ponds, ramps and roads all limit the actual acreage available {or mining. The net mineable acreage is calculated by subtraction of the non-mineable acreage. Tons in the ground are then calculated by multiplying mineable acreage by the appropriate volume-tonnage conversion factor. The in-ground reserve is probably not a meaningful calculation for a mine owner. Tonnage sold across the scale is usually less than the estimated in-ground reserves. This happens because dust from crushing and slimes from washing stone or sand and gravel are lost, material is used internally and never crosses the scale, bases for stockpiles grow, and poor-quality stone from joints and faults is wasted. Prescreening of unwanted material and wasting nonsaleable fines must also be considered. A loss factor of about 10 percent for stone and at least 15 percent for sand and gravel rs commonly used in the central U,S. At 3,600 tpa/ft. for limestone in the ground, sellable stone reserves are about 3,200 tpa/ft., or about 320,000 tpa for a 100-ft. mineable thickness of limestone. At 2,400 tpa/ft. for sand and gravel in the ground, sellable reserves are about 2,000 tpa/ft., or about 100,000 tpa for a 50-ft. thickness of sand and gravel. How Many Acres do You l{eed? The number of tons mined annually is an easy number to obtain. The length of time a mine operates at a pa(icular location is more difficult to answer. TwentyJive years is considered a minimum mine life, assuming there are sufficient mineable reserves. Multiply previous year sales by 25 to get an idea of how many tons are needed lor a 25-year mine life. lf the mining operation is in a growth area, escalate sales annually for the 25-year period. lf 1 million tons were sold last year, 25 million tons will be sold in 25 years, with no growth rate, More than 28 million tons are needed at a growth of 1 percent, 32 million tons at a growth of 2 percent, and nearly 36.5 million at a growth of 3 percent, Divide the total tons needed by the tpa in the deposit to determine how many acres are required. A 1 million ton per year (tpy) quarry, escalating at 2 percent annually, will sell 32 million tons in 25 years, and consume about 100 acres of a .100-ft, thick limestone deposit (32 million tons/320,000 tpa). A 500,000 tpy sand and gravel pit, growing at 1 percent annually, will sell about 14 million tons in 25 years, and consume about I 40 acres of a 50-ft. thick deposit (14 million tons/100,000 tpa). Rock and Mineral Quality or Grade There are a variety of industry-standard purity and grade classifications t0 determine the unit value of rocks and minerals for reserve estimatlon. ln nearly all cases, the higher the purity or quality, the greater the market demand, price and opportunity to market the mineral. At some lesser grade, the purity or quality of the material becomes too poor to market. ln many states both physical and chemical ratings are important to classify aggregate quality, Crushed stone and, to a lesser extent, sand and gravel, must meet strict state depa(ment of transportation requirements for aggregate placed in asphalt and concrete roadways and bridges. A combination of high resistance to physical and chemical degradation, low lluid absorption and moderate to high specific gravity is required for durable, long lasting highways. A low percentage of deleterious materials, like chert and clay, is also required. High demand for anti-skid aggregate for asphalt surface courses in central states, where only limestone or dolomite are available, makes the Vlgo content important in the analysis of the deposit reserves. The demand for dimension stone is more a function of color, texture, compressive strength and workability. Much of the dimension stone used in the United States is a structural component, so beauty and strength are desired characteristics. Countertops are generally not cut from US quarries, being imported primarily from China and lndia, lndustrial sand, particularly "frac" or proppant sand, is used for recovery of oil and gas by fracturing the formation through water inlection, then "propping" open the formation by pumping sand into the open fractures. The highest purity "frac" sands, found primarily in lllinois, l\ilinnesota, l\4issouri and Wisconsin, are of Cambrian or 0rdovician in age (4S0 million years old), rounded, equigranular, and are between 20 and 70 mesh. Volume 32, lssue 2, 2nd Qtr 20'16 Charts and addendum 24 P rese nt Va Iu e lnterest Rate Per Time Period: Number of Time Periods: Future Vatue: Calculate Present Value The current worth of a future sum of money orstream ofcash flows given a specified rate of retum.%PresentValue: s2E,l7E,4O!.O9 Calcu late MIE ttrr 007●1′17 098 00●2417 1∞ ●● “ XV17 0 98 00m4717 198 00m7717 097 00700417 098 00●9717 099 081lα 17 1∞ ●B111′17 000 0071417 003 001ly17 0 96 0071α 17 095 couPom EQtWAL田 099 101 099 099 098 099 100 101 099 094 097 096 13WEBS 喘 Dl“Юur 106 106 1∞ 106 101 104 104 103 101 101 102 1∞ coupom EQtWALEn 10B 108 108 100 103 106 106 105 103 103 1“ 102 "WEEKS田 κ IH“ou町 113 113 111 112 112 114 113 112 112 1 11 114 111 COWOm ECtWALErr l15 115 113 114 114 116 115 114 114 113 116 113 52 WEEKS BAmK 口scoumT l19 121 119 120 119 121 110 119 118 119 120 121 … …122 124 122 123 122 124 121 122 ■21 122 123 124 Discounbd present value calculator Calculate how much is your money worth in today s prices, i.e, the money's discounted present volue, should you de<ide not to use this money now to purchase goods and services for certain number of years, tahng into the account the money's annual inffation or discount rate. You can also us€ this p resent wlue colarlotor to as(enain whether it makes sense for you to lend lrour money, considering the annual inflation and return rates. ln addition, you can use the calculator to compute the monthv and annual payments to save a certain amount of money (future value) tor retiremen! education, etc... 52s,32s,606 58′200′000 1and value S33,525,606 or S33,525,600 dollars 34125000 Future Value 1.2 Annual discount rate, % 25 Ttme, ln years 25,325,606.03 DIscO″″fedρ osell′Val●● 1,120,176.04ス ,″″a′ρaymar 97,379.69 Moη 的ヶpaj/me″′ CRUSHED STONE Statistica! Compendium This publication includes data through 199O. For recent statistics, please go the the Crushed Stone Statistics and Information page. Stone, in its multitude of forms, represents a very significant part of the Earth's crust and one of the most accessible natural resources. Stone has been used since the earliest days of our civilization, first as a tool or weapon, then as construction material, and later, in its crushed form, as one of the basic raw materials for a wide variety of uses ranging from agriculture and chemicals to complex industrial processes. At the beginning of the 20th century, the U.S. production of crushed stone was relatively small, and its uses limited. Today, crushed stone is being produced in 48 of the 50 States, and its annual production tonnage ranks first in the nonfuel minerals industry. The United States is, in general, self-sufficient in crushed stone, producing enough to meet most of the domestic needs. Small quantities of crushed stone, used mainly as construction aggregates, are being imported mostly by water from the Bahamas, Canada, and Mexico to compensate for local shortages that exist in some areas of the country. The demand for crushed stone is determined mosUy by the level of construction activity, and, therefore, the demand for construction materials. U.S. production of crushed stone recorded a significant growth in the past 40 years, from 229 million metric tons in 1950 to 1.1 billion metric tons in 1990. The highest level of production was reached in 1988--1.13 billion metric tons. Between 1950 and t973, because of the construction of the Interstate Highway System, the growth from year to year in the production of crushed stone was almost continuous, paralleling the increased demand for construction aggregates. Following the reduction in the volume of work in the Interstate Highway program in the late 1960's, the crushed stone industry, while still growing, became more sensitive to the ups and downs of the economy. The t974-75 and 19g2 recessions are well reflected by low levels of production of crushed stone in those years. Future demand for crushed stone will continue to be dependent mostly on the growth of construction activity. Most crushed stone is used for construction purposes, mainly as aggregate with or without a binder. Road base or road surfacing material, macadam, riprap, and railroad ballast are the major uses without a binder. Aggregate for cement and bituminous concrete in highway and road construction and repair and in residential and nonresidential construction are the major uses for aggregates with a binder. Other uses include cement and lime manufacture, agriculture, metallurgical flux, and fillers and extenders. Crushed stone is a high-volume, low-value commodity. The industry is highly competitive and is characterized by thousands of operations serving local or regional markets. Production costs are determined mainly by the cost of labor, equipment, energy, and water, in addition to the costs of compliance with environmental and safety regulations. These costs vary depending on geographic location, the nature of the deposit, and the number and type of products produced. Despite having one of the lowest average-per- ton values of all mineral commodities, the constant dollar price of crushed stone has changed relatively little during the past 20 years. As a result of rising costs of labor, energy. and mining and processing equipment, the average unit price of crushed stone increased from $1.58 per metric ton, f.o.b. plant, in 1970 to 94.39 in 1990. However, the unit price in constant 1982 dollars fluctuated between $3.48 and $3.91 per metric ton for the same period. Increased productivity achieved through increased use of automation and more efficient equipment was mainly responsible for maintaining the prices at this level. Underground operations are becoming more common, especially for limestone mining in the central and eastern parts of the United States, as the advantages of such operations are increasingly recognized by the producers. By operating underground, a variety of problems usually connected with surface mining such as environmental impacts and community acceptance are significantly reduced. Transportation is a major factor in the delivered price of crushed stone. The cost of moving crushed stone from the plant to the market often equals or exceeds the sale price of the product at the plant. Because of the high cost of transportation and the large quantities of bulk material that have to be shipped, crushed stone is usually marketed locally. The high cost of transportation is responsible for the wide dispersion of quarries around the country, usually located near highly populated areas. However, increasing land values combined with local environmental concerns are moving crushed stone quarries farther from the end-use locations, increasing the price of delivered material. Economies of scale, which might be realized if fewer, larger operations served larger marketing areas, would probably not offset the increased transportation costs. Although crushed stone resources are widespread and in adequate supply nationally, local shortages exist. Land use conflicts and environmental problems associated with rapid urban expansion are major factors contributing to these shortages. The local shortages that occasionally exist are caused less by a lack of stone than by urban encroachment or zoning regulations that force closure of operating quarries or prevent the development of new ones. Demand pressures, land use regulations, and the cost of meeting environmental and reclamation requirements are factors that will cause a rising price trend. Sand and gravel and to a lesser extent iron - blast-fu rnace slag are the predominant substitutes for crushed stone used as construction aggregate. Steel slag is another substitute for crushed stone in road bases and asphaltic concrete, but not in cement concretes because of chemical interaction. Blast-furnace slag is also used as a stone substitute in cement manufacturing. Calculate the v.lue of t4 ln 1990 Ir latlon C.Lidato. 4.00 1e9Og 2or79l 1ra.0o r. 199() had th€ same buyhg power as 17.66 rn 2or7 !rd!-.a. doll-. c.k .t- hn.do. to - ilit. us dol- r, wth In dE p.* rn bd.y. vt r htr..k t..r, tod.yt Mr6t Ini.do rr-. r.lnorn. cPI FlvlrLd bytn Unn d sm€ !d.rmdt. I^6.ri.. de b urd.t d r.t,l.dy, s BiE h.y dtrh. nnm .dEr v;.rdt ! Calcul.te th€ value of g4 ln 1990 lnfl.tion c.k{l.to. I 4.00 20oojrl 2017E 14.00 h 20OO had th€ same buying power as i5.74 tn 2017 Annual lnfladon over thts p€nod was V.L ol. rbrbr. C.k!|.t . lr l.do to E $i, . US dottx r.r worth I. th. p.!t -d to.Ly. vh, hLt .tet .nd to<t&.. mt tnfrron d- dn,6. cPI p@dd.d b'y tn. unn d st r.r gffih.ni. rnat tton d.r. t uoarEa rogi,reay, o ag'nr -.y d'ft. n;;d.;;;;,;, DollarTimes lnrnnon Loan Iables Calculate DollarTimes lntlatDn Loan Tables Car Insutafte o^OE CO」NTYOROWARD COUNTY ●; Lee, Here is the list of mines in Collier County. As for how long they are expected to run, you may contact the County Engineer, Jack McKenna at (239) 252-2911 for specifics. Mine Excavation Projects Permit Prolect Name Status/Permkted PL# Act市 e/1992 ■2zダ′~20110001386 59204-l Sea Con Pit Currently there are two (2) commercial mine projects in the review/approval process status, P120160001091 and lmmokalee Sand Mine P120160000760. Further information may also be obtained via the Portal for your convenience at: http://cvporta l.colliereov. net/citvviewweb 59.206-1 Willow Run Pit 59.251 Sunniland Mine 59.il8 Winchester Lake (Shaggy Cypress Mine) 59.703-3 SR 846 Earth Mine (Jones Mine) 59.755 Longan Lakes ll (Big lsland Mine) 59.814-'l Golden Gate Quarry (East Naples Mine Ph 1) 59.814-2 East Naples Mine Ph 2 (Golden Gate Quarry) i) 59.868 lmmokalee Sand Mine (Stewa( Earth Mine) 60.019 South Grove Lake Thank you, Tam,ttsurha,w Operations Coordinator Collier County Growth Management Department Development Review Division 2800 N. Horseshoe Dr. Naples, FL 341.04 (23sl, 2s2-62s4 A“ve月 998の 204 ЮO釧 383/ルムS4/C Active / 1987 _* 20110002486 Active / lsss a7V\ 2011000138s lX- FDp fl%< Active /2007 /O 20100000204' Active/2001 t6 20110000258 Active/2013 + 20110001747 Active /2003 /4 20090000616 Active/2006 tt 201'10000668 Acrive /2008 q 20120001330 Hogan lsland Quarry メヵ〆しれ欲タ ι//〃イ Dirf /frD/a{s s ldf /,d/r'',t ″ん″なc″ ´′ノ移り′ノ 夕π/How are we doing? Please CLICK HERE to fill out a Customer Survey. We appreciate your Feedback! Under Florida Law, e-mail addresses are public records. lf you do not want your e-mail address released in response to a public records requeq[,.do not send electronic mail to this entity- lnstead, contact this office by telephone or in writing. Cor,lnuy Marketing Data ´ 珈 ITE LAKE BOULEVARD SAFETy IMPROVEMENTS VttLSON BOULEVARD ExTENSIONAND ●‐Roド R` Pursuant to the Collier County Growth Management Plan for the ftrture Wilson Boulevard Extension and an agreement between Collier CounV and Florida Bgg-f road improvements will be undertaken for the corridors hE-hlighted in the mipT-elow. The irnprovements are planned to be constructed in three phases: White lake Boulevard safety improvements, and Wilson Boulevard Extension Phase r (also known as mining haul r.oad), whidr in the ftture will be ftrrther improved to serve as the Wilson Boulevard Extension. Typical sections are shown on the back of this sheet. The first two segments will be completed by Florida Rock in order to improve access and safety along the corridor and access to its mining operations. ... _i;-" The final phase, Wilson Boulevard Extension, wil be undertalen by Collier Cornty at an undetermined time in the future. More detailed information, as well as project updates, are available at," http://www.barraco.net/floridarock. 輌 “""Ov_. “・・・ ,・ ΨW 〇 `""● ●‐ '“ヽぉ LEGEND - r i \'lhih Ld(! Bodevrd SahV lmrruramdrE coflldor r - . Wlro.r Bot Lr,Id Emllbn Plraaa I (aha llrfling ha!{ road z.bno) I I I Wbcr Bodd/r.d Efunalon (frJt l! a{o.) E r i D.v.bp- Ondb Rleht oi W.y I I I Dalraloa. Ordb OEh.9r E .rna @ c,riN.!. @ JI 〇・・・lM O t・ arraco and Associates, Inc. The southem part of the site was zoned for excavation in 1987; the northern section was added in 1990. It was initially a sand mine that removed the topsoil. In January 2003, a Lee County permitting change allowed aggregate mining to a maximum depth of 90 feet; in February 2003, the mine site was annexed into the city of Bonita Springs. Bonita Grande Aggregates' permit for mining activities expires May 27 ,2020. Once mining stops, the permit calls for removal of the equipment, sloping of the site and minor planting along five lakes that have formed. Depew said more than 400 acres will be available for development BONITA GRANDE AGGREGATES BY THE NUMBERS 6,500 tons of wash plant products on an average day 7,000 tons ofFDOT products on an average day 1.3 million tons mined in 2013 2.7 million tons mined in 2006, the largest 20 million tons left 300+ average truckloads a day 21 tons capacity of average truck 28 employees (including office help and site sales but not third-party contractors) 1,268 acres on mine site 384 acres ofpreserve on mine property 402 aqes of lakes on property when mining is done 400 acres of land available for development once mining ends 7 a.m.-5 p.m. the mine's hours (permitted for 7 a.m.-7 p.m.) 9C, rtt,ltte LLL. puRch4es L*u& Ofzorrc fi 7, *a,0OO < sho,e O wdr.h Eop.rty O C*tal*i. D c'.dt. ReF.r I Fri.r 8100 Co∥ier Bivd Noples′FL 34114 106 44 AC Lond For sOle 1 Lot Available Price $ 16,500,000 Price/AC $ 155,016.91 Lot Size 106.44 AC Lot Type Residential (land) Description The subject property, known as the Rockedge RPUD, presents a rare opportunity to develop a resort style residential community in the heart of Naples, Florida. Rockedge consists of 106.44 acres with zoning for up to 266 residential units. The property has a base density of 160 residential units and comes with 90 TDR (Transfer of Development Rights) credits bringing the total buildable units to 250. 16 additionalTDR credits would need to be purchased to maximize the density. The property has an active Environmental Resource permit (ERp). An Army Corps of Engineers (ACOE) permit is also required for the property. Final approval of the ACOE permit is believed to be imminent and the property can be purchased subject to receiving that permit. Rockedge is located on Collier Boulevard just south ofthe physicians Regional Hospital. The location provides easy access to the major thoroughfares of l-75 and U.S. 41. The area west and south of l-75 in Collier county, where the subject is located, is largely built-out and has very few vacant land tracts remaining for new construction opportunities, which makes Rockedge a commodity in short supply. S16′500′000 Collier Boulevard, south of l-75 (Collier County, Florida) Highlights 051Acres of development tracts and open space 0 acres of approved mining lands permitted and vailable for mining today 351 Acres of preserves that are fully mitigated with gency sign-off s in hand. TDR sending credits are vailable. 70-240 Acres of lakes, depending on the number of cres mined. WINCHESTER LAKES ACTIVE MININC OPPORTUNITY FOR SALE LW 書 PRICE: LOCAT:ON: CURRENT USE: INGRESSノ EGRESS: LAND AREA: CURRENT DENS:T漁 CURRENT ZONING: UT:L:TiES: PARCEL:D: Oil Well Road, east of l-75 (Collier County, Florida) Mining operation Accessed via Oil Well Road with a two-way in and out designed for heavy quarry traffic 654+ Acres Total 1 '18+ Acres with frontage along Oil Well Road Current 600-Acre excavation permits in place Rual Land Stewardship District ,Agricultural (AG) with a provisional use permit Available along OilWell Road 00223080001 IL WELL ROAD′N A PLttS′FLORI Commercia:Rea:Estate Consultant3.LLC WWW.CreCOnsultantsocom ノ ダ DAN CUOAN Associole 2396591447x214 don guoon@crecOnsullonis cOm .l2,l40 Corisso Commerce Ct, Suite 102 Fort Myers, FL 33966 I .l00 Fifth Ave. S, Suite 100 Noples, FL 34.l02 Un～烈興嘉V8 : PET ′40 0RDER OF MA―E――vALUE ES―知 PROPOSコ D QUARRY―NAPLs FLORDA Prqrnd fon IISA Dadopcrr, Inc. f50t Norrt Taahol Traf,r Sultc 3lg Nrph+ Ilor{de 3,ltX0 PrepH Inc●●pmtl●●wLL8 0‐ … Enlman●●d selatlon3・ InC 4420C●田騰駐B●●IwaFd BroOb鴫 n●lld.407 JL■1■1996 401 Northwest 261h Street D Gaines宙 !10,日 o"da 32607‐2633口 (904)377‐9567 一| EIOX.IDA PR;OTESSIONAL GEOI"OGIST CERTIFTCATIoN This rtport oa ttc rr&rui6 ofa $sd li!.stonc, lnd $d/lrrvd dcpodt nnr )tfra Hori&perod frrDSA Desdopc* Irc, brs ba preprnd byDr. Grrcry If ftfcCch, fr*r,aoooUtu' !t 6. rEquG.a of rad il ooltaboruion with ooorgG K Fog. of 6.crtlsr Eur&reo' td Sobtim+ hc. (Ceg), Bfoo&wilq fbridq Ed rppoarrb oo@yxdrh t&G qmril rtrd.rdt red prober b tto fdd of6ohly h tho $ate ofFlorida cEgr pro&rdonat ut{oor bapc bo pcforocd "si'g thc dqrcr of crra ril *in ordinuily mtisod uader darilar droraaccc uy oth:r proerdods prr.lici4g io eir fctd. rhc ccrtificaion of g:ologic qro& s,.r{rGd b',h qptior ooly to thc origfu lelld doom.a(s), and rpotifcaly doc, not pcrt ir to B cogiol of &ir docunu or rry porrio thcoof tdudng Eyr.rs, tbco, rcpi,r c o6tr m,orrl s,htct cla bG ci.oged by thc cotity or crnfties with whq arc,h dourncm(a) arc 6rcd. No orirmrr*y, crprcgsld oE iidicd L nrdc rr to thc profccdonal advico in ttde rapmr … Gucrry H. McCldlrn, ph.D. pG 455 TLORIDA PROFESSIONAL CEOLOGIST CERTIFICATION Ths rcport oa thc v:ruaim of a eo4 lioc*orc, ",d s.nd/g'vd dcporit ncar Napreq Fr,orida,'eard ffi DsA D,rdoectB IDc. h,, bcco rEvicu,Ed by Croorgc K Fostcr of crcativeEuviroaoeuat sorutiou, bc. (cEs), Broo&rvilq rhila, urd appcrs to compty with ttcq,.'*t stsa&d! rod p'tlices ia 6c fidd ofg*hg h thc strte ofFtorida. cEsb prorftadouarlGrviss hrt'B bcrn p€tfqDod uting thc derce of crrc md *ill orrolnroy aercisca,ndcr sin ir'drwosec." by othcr proasfuoarr El.,icing in thir 6crd. Thc ccrtifcuioo of g'or%ic wortcodlincd hadu apptics ody to thc origio.t sorbd aoosr-,t(s), aod ryccifcally docc Dot pcrtritrto ey copicr of thir doorncm or a[y pstion ttcrcor hauailg EJrI,"s, tnrco, rcpia on othcrEatcd& u'tic& crn be clugd by tbc crtity or cdics with ,tom a,.h dooraca{s) arc fircd.No othcr vramut57, cxprceed c i@, ir mrdc ar to thc prroftssimal advicc in rtis rrport Date of… … B,cd o thc gcocrd rm ff *r *r ,,ch mrtEirb nry 'ngp ftore 3% to 5% of thc oclfine Fico. thc -rFrtftrtflll.tr'tff fo&rctioa will vrry fioo r low of ,0.o3/too fu flt dirt to 8ll.50toa for fEl. t t#f h ttd also nay bc barcd ooly oo ro,,,,.ge told rod uo iadcpcndar dfi v-r Crb Fbr Brscd oo ttc toorgr rtric hlrtrrf'rtport (Goologicd A,,Gsed R4ort June, 1996I tbc cstfu.std ilhacdtlrd;e&artravcbccn caterlatcd ui,,g rcuc tl,picat minc ruco"try fgrn$ aad n lm h tb ihg t$Ia Tbo nnge of rntrc cctioltcr wr(! o.d! rpplyiagthc lo*ec rly*ylge,'oiell0fthrs opeadrrc product a'd rhc higlcst royslty fgurc (570) to tbc ffi .'{F!tIr Fr*r.t (*h,nnr 2 aad 3). Ingh mining rccorrcry and tow rcyrtyvrluor tpiod dGt&r cpnlhrEt urcd to calcutrte coluna 4. Table Vahrc crt'unac Tonr 3%― 5%¨ 3,1`_ 4S― "お … "。 94- 5096H_ 4.5 mmica S039口 画ヒ瓶 SS.63¨ 900/●"o町 cm dirtD 4.5 mon い_12 mmim SO.24 mm●● r.imcoac-'crurhcd[cnrg*d rlrold fiom opco-pir Eilortocdcd in wodcrn collicr cauty. Iti. rc t peard bt ptoooc Trariani Foradon ud ir urcd for barc rodq coacr*o qqgfr1 f q5 rdffr fictd!. Thiohssro. of tb. tanianri Forauim vrry Arom rcro ocrr Ie l*C h tc *to r*orc rt .n l5{) ftGE h tho routhrn part of thc ourly. Thc Tdrirrd ir oclta cfrll9 fn€stooG, $aCy Uractooq rnd catcrreorr raad*onc ard ocan r 0-ro h lar ilr rr,urghout ths coudy G*@t arong the coaaar oargir' Tbc reportd LA frJor &r dt! for thc timccoao rocowrpd in corer for this rtudy rrouE iodcrrc r bi$ Sef rafdtf, E{d unnrnt conmsrcid imcrcst. The raluc of oommcrcial rmcrtoorc i! nd& repods in largc prrt on the ctrcn,:crt quatity G.c,, high crcQ eoocnt) md pu5pricrl plqrticr arotr ar abrasion rcsistrncc, moi*ur rcrartio4 and MIBODUCTEDT Ibc arty ltlgsr of a ningd &Fodt ftubey cidy ir a do&uitr uttor dGdrcd &om e targc rder of rsnryiou rd frqirdoqr th fue dabrse h &. carly sfn of dov&p- mcc oftoo il immptetc d ry coarE da orl rdcr of &fi hohl udlor oil[c pileoca of idomation. In many cssc$ thc pdmilry &r& can bo urod to dartlop r urcrliag Dodd of 60 occrrrmom oftbo niud nilrrou. Affioqd Arcnitldon+ triusifid by ths rcarlte of a prrdininary ftafttrty firdy, ary gcorti& tcnrddr!#yhg r E! deuilcd edility sudy rc$tiag i! b€frcr inforard &dds ad ro &l&. A&Etioad fila!&l rlrors* will bc rGqftd dmg tbir Cop-str pmo&rttt'at qr fualy brd to r laryc crpttel inte*nd. Thc vcry firrt fesdbility shrd!, ir rn oEbnrioa or dmrnry phrro thd dctb i! odcr-of- rreEftrdc r${$Grr to dcsroho ft eobd of tb amo& and fu iffinl ud finedat cfforg that rm jrudficd withh fu o& oftc ;ueg dcntdopmcc mdd. Thir ordcr-ofr Esgdtu& Gtrort ds*ribca ttc *r3! of *iau1ncd oftb rtsffiuar indrd in &k r€post $rch &rts o,fta rro bucd 6 Dtailour Eil datr kitil, &on r ucilty of smrco rnd caa have probablc cnott of* 3096 (W. C. &nsrs, efhnhnp{ }A&g Cqfnp , ,o&o Wilsy and Sont 1987). lvlary erch e*imacl altbrl:d on6a radry/ ila&od u,ks @rtl rd produ€t vzlues are dsi'?od ty comearAonr wffi ptreod Crit rars aruirfl rc in&lmdoo eop oon$ltrtioor with othc Grgsr b tbb [Gld. tbs drn nryDc sofiEod d dfd tqsany aad ryuidty to tilrcct dts !pad& oodim+ r ucodsd. tto nuffm cf E*irE Grtirn tcr by rmlory arc Epprcut bocau$ *tc-foC* Gor&bg 6 d ede iryct nrgh rcIlEC. Factors nrch as vtristiost in goologicrl oondttsn+ ndcfng dhrfu, tnraporttirn rvrihbrllity, trnlo, rod locsl and rqgiooal rqulatory pomdu uo a filr oftb morc otrykrur panmctGrs. Thcre arc reveral mcthods ofapsaidngfiotrhc da n&ncral psofty. Esch rtquirls a difFcrcot lcrd ofdfiilod fnoutlodfp in dadofiry iu a&aata Bcsrurc O& sud,, hes a vory timited goological basc, aomparabh sakc d rycramoU Es$ds wflll not bc rrmd. Instcad, a rnodficd roplty method will be used. Modificuion ofthc rrptlrod ir rcquired bccause oftbc very P,elinrnury lrtu'r ofthe gcorogicat i.forDltim otrt is bdng ulod E n,ke thc ertiEatc, r,d Ub-rgution oo productio rdcs &on a nill ud tlre nototid for oarloting produat hu am bcc' providd. The rornlty dhod rrarucl a willing bnrpr lcascs thc had undcr rordy to r prrty tha derdopr r qini'rg cotlrprilc. Ttc uiml rurourpee ofttc propcrty thca aao bc dcrivod brred oa thc rpptcaioa dr rldi,tb 'o,,'&y ratc b thc toa,ogs produced. Tbe rc),.lty rdc ir barcd on qlrrrd nartot prraicor ia tbc ttgio!. Typical rcydty rdcr for cru3hed limcctooc ard othe low phcc rnh.rc buildiog natuidr a. fiom 3% to 5% ofrhc rclliog prico. Mnmrf/rl- DEI'oSII'S &d-aurru eand occurr iu C.ollicr Carty rr undifaecirtcd Pleirtoococ-I{olocone s.dingmtc rnd varicr in tDic;&ncsr aroaa acar zcro up to 2G4o fc.t thic& dong tho &unokaloe Rise in thc aorttcm pert of ttc Goray. lllidoescr cbo any rcd 20 fta rloog tho Grlf coud Bania cbsio !!d in tbc Teo Tbqrnnd Istud rmu. llcrc urcrr ao rcportcd omncrcirl ld opcrdoos ir CoEcr Corty tbough tgtE. comdd raad deporir rrc ds6nsd pimrrily by pordclc riza To bc of,comrirl iacrc*, 6c dcporio urst oooin a prcdoariaracc dcoarrc rrd dzls [err 4 (1.?5 rrm) to phrs 40 (0.425 m)odl ftrucin rrptr&bgrd PortLad ffi cooc$arL Finc lrad hg a uqo lioitcd mrrtd h thc rnrr'ftct're ofglu+ lrilrrs, id roofing rerder. srrd urod ftr 6tt dirt bns r torlr v*!g ttm thoo corsrugi,oa matsirh. soac qrrct vrlrcr for mmcrciel und producs rlc rho*a ia the Sllowiog trbla Table SrndProductr FillDirt Conrtruction asld Wdl poht saad Driexl constnrction sad (butk) Bagged conrtruction/wclt point sand Sl.lSAOn S3.50A●● SS.504on S15.004on S50.00Aon d@!ity. ltrc ftw uuples avaihblc for strdy sssm to mocc tbGsc gllrcral roquircoots ard soccr to hevo good potodial ftr comncdal dcvdopcnot uornirag ihrt mu&ct cooditi@s ere frrrcr- rbb. Somc errcm rnluos of rorrcml comnrcrcial limertoae daived produas rrc fuua in tho Sllowingublc. Trblc: Ljocrtooc produar Coocrac aggrlglio Brsc cqme matcrid ASdcuttunl limestonc.pul\rsiz.xl 34.50・ 5.10rt●ュ S3.704.60Aon S4.50・ 7.50Aon Aplyiog tb. gcodrl rulc oo cocEucion nrteriat royahioc 5.e.,3./r3/t of rllel pioc), the rcye[icc oa crurbcd rtmc m rmgc froo r lonr of,SO.I I llto to $0.375lto- Rc5nltic for *re rln nay bc bercd ooly oo tonnage rotd rod are indepoadcot of tbo ratro of tte fduct. Brrcd-on tte tourgo crlorhioas dor in aa culia rtpct (Ccotogiarl Arccasoid nrput, IunA lgDO thc cltinuod rnbc of thers hrc*m productr lrt r! boclr o.lqild.d utbg ronc tyflcrt aio: rmw$, f,gurrr ud rrc rhoun in tto folhrirg ubh. Thc reag! of,ra&E Grtiurtc! wq! ordo rpptying tbc lowcat roFtty igure (3%) to thc leas crycndrrc prodra rnd thc htglrcot roytly fgnr! (5%) to tho non @coiw product. Table: Valuc esinatcr Tm●● 3%rom 596- 35%■Hx、■ry 14.9¨ 30.50… SO.83 mmon 50,6… 14.9… Sl.96 mttm S2.79硼 On CoWc amreeata-lratcrial dcecr$cd rg corrlG lggregatc occun in tho lovrcr uacorsolidarcd portiotu of tbc Trmiraci Formaioa bdow t$o hand, iaduratcd linsrorc thrt sar collcctcd as corts. No rpocifcrlly idcotiftble ranpler of thcrc matcrirls werc nrpplicd for mniutio" It is possiblo tbat thcsc rnatcrirls are relrtcd to thc calcrreous sutdr that ocar in lower parts ofthe Tamiami Formation ia Collier County. Bccursc thcse matcrials rrc atur&rt wi&in reasonrblc &initrs &pttl thcy rc of coqrooic intqest. Tberc o&co ir a gpod durand for coarr rglrqlrto for colsmrctftn ur., drain h&tng. md dccorrdrc prrpores in kuborping Sue nrrfrls, if cvrfr{c_h efildcd qudity rad qrrlotity, urt! briry p$oirrn piccr. For prporo of d& Gdql. Itba, tic pria! wil bo ararnod to bs ttc roc rr pmiura tnc*on rg3lqlig ga.S0ta, but corrld bo Elcb Egtc(. Thll tbc roFlty &r thit Ettldd nEuld nqg. fioi! to.ltsfto! d 3% ro 30225/tm at 596. Brrd oa thc toaga crlcuhdmr dca b ro rrrtrr rrpolt (ocotodcat +lalm Blpoc &lrq 1996I ths c*iolcd vrhr ofihrrc ooGE rff;qjfcr havo ta ohrlcod u.'rf m gficd uinc raovcryftwr and up &oqra ia thc ft[orlrg t6b. Tho nnge ofvrlu! crtiarar rrrt rrde ?Dlyingthglocns ro:dt,,6gurc(3%)16rbhr* crpcadvr pro&ra rod tb.hilB roylky &trro (5%) to tho noct qorhrc prcArct. Tahh: Vrtro er..'n.tcr T… 3%田Ⅲ町 596口 彎 35%… 3■3… 31.76 mmon S294 mttm 50X… 37.3 dEm 32.53- “ .20- xrropMuDNl)AfroN Bard outhc roarlu ofrhcro erdrooGnrgDhdcahd dp* **a, ttc cogiiuLt stud!., t!4 ma nryqtuly, ttrc o@ m&, a Pb E ga{y &ac ory bc urefid.d. Tbt t 'pc of *dy rmdd r&p rn rrrcm dUICtC tcorl reairry tlo dad- op(nd (fuaacd tbrdy)Ed Efl qb r nors d*rtrcC cv&dm dbrtfui{d Edorih, (guadfcaion and gdlEocior of ruarccf rclc of opauiso, qutffi co$f Fojoct ml gc.). Tblco t,?ce of rtudicr uo crratirl to rercl thc uacc&y h urforg thc qloB/ pfidph uffic idattryiag r[rnilrttiot rad d&rcos bttwm d+odrftrmay bc dgdfca. I,brodd redrcc tbc orrq in G!fiimrtrr to rbout 3096. A Pt r. III mrtd bc rrqrircd fo dcf,.! t{li;na autborizUionr rnd dc6nc tho rcorpc ofwo* cort eetinnc. Erfb of.tbcrc ttrrd, phuos rGsr&l' 0 Details t Print 」t TaX8:::s サt ChangeofAddress J 131爺|ムレン″||″ν^Site Adr. Map No. 4C32 Strap No. 0001000024C32 Amount State FL Section Township 32 49 Zip 34112 Range Acres tEstimated 27 18.18 Date 10/19/09 Book‐Page 4507‐1282 $0 2016 Certified Tax Roll (Subject to Change) Land Value (+) lmproved Value (=) Market Value (=) Assessed Value (=) SchoolTaxableValue (=l Tayahlre Value teL 3l 4z€t' fl. | -/ ",/ //ttr7- Sec 3R ;e+4/<rncxrt frykaneill- Property Surnrnary .| :101,「 lγ P't,il l「 ,卜 ,11'es l Parcel No. 00342000001 Name/Address COLLiER CNIY C/O REAL PROPERTY MANACEMENT 3335 TAMIAM:TR E.STE 101 City l NAPLES Legal Mi:lace Area 0 287 Sub./COndo 100‐ACREAGE HEADER Use Code C 86¨COUNT:ES:NCLUD:NG NON‐MUNICiPAL GOV. Latest Sales History (Not a∥Sa:es are:isted due to Con■dentia::ty) 324927S100FT W,AND N 50FT OFS100FT OFSEC 31 TWP 49 RNG 27 AS DESCiN OR 4507 PG 1282 Mi::aqe Rates e,calculations Schoo1 0ther Tota: 5。245 6.258 11.503 Page I of I $50 $0 $50 550 50 4n http://www.collierappraiser.com/main_search./Recorddetail.html?Map:No&FolioNum:00342000001 INSTR 4360234 0R 4507 PG ■282DW=GHT E BROCK, COLL工 ER COUNTYREC S10 00 Date:¨ ・ 19 昴th“■ … t"狸 ■ underthe dtton of: ヽom“LW●』t.Dlsulo ChtFCoul・ stiPO“x1249 Bmow FL 33831 0cPartttnt orT間 ,onat on RECORDED l■/6/2009 2:04 PH PAGES ■ '●● CLERK OF THE CIRCuIT CouRT Parcel NQ:N/A llen rs嗜 _tNo:2∞7121 Sec br 03176 24o5 Manael■8 Dittct:One QulTCLAlltt DEEDPUllLiC PURPOSE STATE OF FLORTDA .ou*"oo Pdlk- Ttc forcgoing instrumcnt was acknowlcdgcd bcro. ,. d,i" l9-dt"v or 0C*O k". ,rr' o, District secrElary for District Onc, who is persooallY k own to me or who h&s Produc.d thc provisions ofSection 337.25i Florida Slatutcs, all lhal unto the P8!ty of the Second Pm thc Wilson Boulcvard Ertcnsioo by dre Pan! lghts a“title to,and interest in lhe o pcrpctual .asemanl ovcr lhc propcny Rosd 93 (I-75) dlainlge f3.ilitt. has caused tlrcsc prEsents lo bc signed in lhc namr by its Dislrict Sccruary, District Onc and ils scsl lo bE (Affir Depanmenl Seal) NolEry Public in and for the coirnty and Slst. last afor€said. My Commission Expitls. - (Amr Notrry Scd) BY nE …… … -1 … 崎 A―"R… THIS INDENTURE, Madc rhls Sday of AlitEl, 2oo9 by and bcrween rhc certain llnd situate in CollierCounty, Florida, TO HAVE AND TO HOLD.the REVERTER‐Thc property of the S.cond ParL If thc prop.ny propcny hcrcin dcscribed shnll rEvart RESERVNC UNrO THE hercio describcd for ingrcss and.Srcss and N WΠ NESSヽVHEREOF,the State 。rthe state of Flodda and the State oF Flonda herEunlo affixcd, arcsted by its Executive Sccrelary, on thc dat first above written. ATTES■Ю曲口,」m(typr/print name Exeqrtive Secrclary identincatiOn A(omcy for STATE OF FLOR:DA byand ulrou8hthe STATE OF FDORIDA DEPARn4ENT OF TRANSPORTAT10N.Party oFthe Fist Part,whosc addlessis P O Box 1249,3artow, 日onda33831,to COLLIER COuNTY,A POLTrICAL SuBD「VISION OF THE STATE OF FLORIDA,Pmy ofule SecOnd Part,llhosc addtts is 3301 Tanialni Trail Dst,Naples,Π o“da34112 ヽVITNESSETII proFny hcrain described to be used solcly for public WHEPIAS, said lond hcrcimftcr dcscrib.d wls h.rEtoforE acquirEd for statc hiShwly purposcsi rnd WHEREAS, said l6nd is no lon8cr EquirEd forluch pu.po.6, and drc Pany oflhc Fir Pan, by action of&. Disldct S€crEtaly, District Onc, Florida Depanmcnt of Tra$po.lalion onDlll+F)@q . pursuant to thc provisions of Scclion 337,25 Florids StsruEs, has agrced to quitclaim lhe land her€inaftcr dcscribcd to thc Pany of lhe Sccond Parl wilhout considcration. lo bc uscd solely for public purpose. NOW, THEREFORE, THIS TNDENTURE WINESSEfH: That rhc Pany oflhc First Part does hcrEby remhe, rclcasc and quilclaim unto thc Pafly of thc Second Pan, and assigns, forEvcr, dll the righl, litlc and inlcrcst lhc Pany of thc Fict Psn hss to and in thc ι of Transponrtion Юl`3r4 鳳 N■理: Legal Description:The sublect property is lega∥y described as fo∥ows: HHH Rach R"dtt hds I_ Witth“面。■2%To゛昼ЫP 49,Rttgc 2■四∝ls: 00328560002 294927E1/2 0F SE1/4,NW1/40FsE1/4,E12 0FSW 1/4 0FSE 1/4,NW lた 9FSW1/4 0FSEIた ,N12 0F SE1/40FSW 1/4NE1/40FSW i/ち E1/20F N財 1/40FSW 1/4,SW 1/4SE 1/4SW Vt W】/2 0FSE1/4 0FSE1/40F SW 1/4,SE 1/4 0FSW1/40FSW 14 E12 0FS■71/4 0FSW 1/4 0F SElた,00331320006 29 49 27 SElノ 4 0F SEM4 0F hlE1/4 00摯 80002 "4927E12 0FSW1/40FSⅥ/4 0Fl嘔 1/4 00328640003 294927E1/2 0F SE1/4 0P se1/40F MV1/4■W1/2 0FSW1/4 0FSW1/40F 避 1/4 00329240004 294927W1/2 0FSW1/4 0F SW1/4 0F SE1/45AC.OR 1342 PG l129 00330840008 294927E1/2 0F SE1/4 0F SE1/4 0FSW1/45 AC.OR 1342 PG 969‐970 2. IheNonkm 279ac"澪 ofSα だo■32 Toヽ v国 “ 49騎 Ⅲ RИ ■8e27 East , - HHH Ranch Seudiag I&ds l . Thc Southem 375 acrcs of Scaion 3l Toumship 49 Sourlr R lgc 27 Easq lcss and e<ccpt any lands tbat werc prwiously alcn for higbrvay rigbt ofuay. Assessed Value and Taxes: According to the Collier County Tax Collectofs records the subject property is identified by the following Folio Numbers also showing ownership names. On this chart we show the ownership name, Folio number, acreage, taxable value, assessed value and the tax liability. The subject property is calculated by Collier County to contarn 922.88 acres. The taxable value of all eight parcels combined is $178,932. The assessed value of all eight parcels combined is $2,489,700. For the tax year 2016 the subject property paid $2,714.68 in taxes. LDC on―line 6-19-17 2.03.08 - Rural Fringe Zoning Districts A. Rural Fringe Mixed-Use District (RFMU District). 2.RFMU receiving iands. a.Outside rura:vil:ages` (1)NBMO Exemption.Except as speciically pro宙 ded herein NBMO Receiving Lands are only subject to the provisions of section g 03 08 C. (2)Maximum Density. (a)BaSe density.The base residential density a∥ovvable within RFMU rece:ving lands."is l unit per 5 gross acres(0.2 dwe∥ing units per acre)Or′fOr those legal nonconforrning iots or parceis:n existence as ofJune 22′1999′l unit per:ot or parcel. (b)Additional density i.Additional Densitv A∥owed Through the TDR Process.Outside of rural vi:lages′the maximunl density achievable in RFMU Receiving Lands through TDR credits and TDR Bonus Creditsis l dwe∥ing unit per acre. a)CluStering Required..¨fo∥owing provisions: 1)Central water and sewer shall be extended to the project.… li)The maximum lot size allowable for a single―family detached dwe∥ing unit is l acre. lii)丁 he c:ustered development shall be located on the sne sO as to provide to the greatest degree practicable:protection for∥sted species habitat,preservation of the highest quality nat:ve vegetationi connectivity to adiacent natural reservations or preservation areas on adiacent deve:opmentsi and′creation′ maintenance or enhancement ofvvild∥fe corridors. b)Minimum Prolect SiZe.The minimum proleCt Size required in order to receive transferred dwe∥ing un:ts is 40 contiguous acres. c)Emergency Preparedness.ln order to reduce the likelihood of threat to life and property from a tropicalstorm or hurricane event any development approved underthe provisions ofthis section sha∥ demonstrate that adequate emergency preparedness and disaster prevention measures have been taken by′at a nlinimum: :)Designing community facilities′schools,or other public bu∥dings to serve as storm shelters ifiocated outside of areas that may experience inundation during a Category l or worse storm event,VVh∥e the need to utilize such shelters vv∥l be determined on a case―by―case basis′areas which are susceptible to inundation during such storm events are identified on the Sea′ Lake′and Overland Surge from Hurricane(SLOSH)Map for Colller County. ii)Evaluating impacts on evacuation routes′if any′and working with the Co∥ier County Emergency Management staffto develop an Emergency preparedness Plan to lnclude provisions for storm sheiter space′a plan for emergency evacuation′and other LDC on-line 6-19-17 provisions that may be deemed appropriate and necessary to mitigate against a potentlal disaster. lii) Working with the Florida Division of Forestry, Collier County Emergency Management staff, and the managers of any adjacent or nearby public lands, to develop a Wildfire Prevention and Mitigation Plan that will reduce the likelihood of threat to life and property from wildfires. This plan shall address, at a minimum: project structural design; the use of materials and location of structures so as to reduce wildfire threat; firebreaks and buffers; water features; and, the rationale for prescribed burning on adiacent or nearby la nds. ii. Additional density Allowed Through Other Density Bonuses. Once a density of one (1) unit per acre is achieved through the use ofTDR credits and TDR Bonus credits, additionaldensiW may be achieved as follows: a) A density bonus of 0.1 unit per acre shall be allowed for the preservation of additional native vegetation as set forth in sqq,r,p..n 3.05.07 E. 1.. of the Code. b) A density bonus of 0.1 units per acre shall be allowed for projects that incorporate those additional wetlands mitigation measures set forth in Sectr,ql1'l,-0j!82 F. 4. b. of the Code. (3) Allowable Uses. (a) Uses Permitted as of Right. The following uses are permitted as of right, or as uses accessory to permitted uses: i. Agricultural activities, including, but not limited to: Crop raising; horticulture; fruit and nut production; forestry; groves; nurseries; ranching; beekeeping; poultry and egg production; milk production; livestock raisinS, and aquaculture for native species subject to the State of Florida Fish and Wildlife Conservation Commission permits. ... ii. Single-family residential dwelling units. ... iii. Multi-family residential structures, if clustering is employed. iv. Rural villages, subject to the provisions set forth under section 2.03.08 A.2.b. below. v. Dormitories, duplexes and other types of staff housing, as may be incidental to, and in support of, conservation uses. vi. Family Care Facilities: 1 unit per 5 acres and subject to s€ction 5.05,04 of this Code. vii. Staff housing as may be incidental to, and in support of, safety service facilities and essential services. viii. Farm labor housing limited to 10 acres in any single location: a) Single family/ duplex / mobile home: 11 dwelling units per acre, and b) M ultifa mily/do tmitoty:22 dwelling units/beds per acre. ix. Sporting and Recreational camps not to exceed l cabin/lodging unit per 5 gross acres.2 LDC on-line 6-19-17 x. Those essential services identified as permltted uses in section 2.01.03 (A) and in accordance with the provisions, conditions and limitations set forth therein. xi. Golf courses or driving ranges, subject to the following standards: a)The minimum density shall be as follows: i) For golf course projects: one (1) dwelling unit per five (5) Sross acres. ii) For golf course proiects not utilizing density blending Provisions set forth in the Density Rating System of the FLUE, including free standing golf courses: one TDR credit or TDR Bonus credit shall be required per five (5) gross acres for the land area utilized as part of the golf course, including the clubhouse area, rough, fairways, greens, and lakes, but excluding any area dedicated as conservation, which is non-irrigated and retained in a natural state. A TDR credit or TDR Bonus credit used to entitle golf course acreage may not also be used to entitle a residential dwelling unit. b) Golf courses shall be designed, constructed, and managed in accordance with the Best Management Practices of Audubon lnternational's Gold Signature Program. ... etc., etc. xii. Public educational plants and ancillary plants. xiii. oil and gas exploration, subject to applicable state and federal drilling permits and Collier County non-environmentalsite development plan review procedures. Directional-drilling and/or previously cleared or disturbed areas shall be utilized... etc., etc. xiv. Park, open space, and recreational uses. xv. Private schools. (b) Accessory uses. i. Accessory uses as set forth in section 2.03.01 of this Code. ii. Accessory uses and structures that are accessory and incidentalto uses permitted as of right in the RFMU district. iii. Recreat;onal facilities that serve as an lntegral part of a residential development and have been designated, reviewed, and approved on a site development plan or preliminary subdivision plat for that development. Recreational facilities may include, but are not limited to clubhouse, community center building, tennis facilities, playgrounds and playfields. (c) Conditional uses. The following uses are permissible as conditional uses subject to the standards and procedures established in section 10.08.00. i. Oil and gas field development and production, subject to state field development permits and Collier County non-environmental site development plan review procedures. Directiona l-d rilling and/or previously cleared or disturbed areas shall be utilized ... etc., etc. ii. Group care facilities and other care housing facilities, other than family care facilities, subject to a maximum floor area ratio of 0.45. iii. Zoos, aquariums, and botanical gardens, and similar uses. LDC on-line 6-19-17 iv. Facilities for the collection, transfer, processing, and reduction of solid waste. v. Community facilities, such as, places of worship, childcare facilities, cemeteries, and social and fraternal organizations. vi. Travel trailer reereatien vehiele parks ... N/A vii. Those essentialservices identified in sections 2.01".03 (G)(1)and (GX3). viii. ln RFMU receiving lands otherthan those within the NBMO, asphalt and concrete batch-making plants. ix. ln RFMU receiving lands other than those within the NBMO, earth mining and extraction. fsee para. 4 of Settlement Agreement] (4) Design Standards. (a) Development Not Utilizing clustering: i. Minimum lot area: 5 Acres. ii. Minimum lot width: 165 Feet. [Etc., etc.] (b) Clustered development: i. Lot areas and widths: a) single-family i) Minimum lot area:4,500 square feet. ii) Maximum lot area: One Acre. iii) Minimum lot width: lnterior lots 40 feet. iv. Maximum lot width: 150 feet. b) multi-family i) Minimum lot area: One Acre. ii) Maximum lot area: None. iii) Minimum lot width: 150 feet. iv) Maximum lot width: None. ii. Minimum yard requirements... et., etc. iii. Height limitations a) Principa! structures i) Single Family: 35 feet. ii) Multi-family: Five Stories not to exceed 60 feet. iii) Other structures: 35 feet except for golf course/community clubhouses, which may be 50 feet in height. b) Accessory structures. 20 feet, except for screen enclosures, which may be the same height as the principal structure. iv. Minimum floor space a) Single Family: 800 square feet b) Multi-family: i) Efficiency: 450 Square feet ii) One Bedroom: 600 square feet iii)Two or More Bedrooms: 800 square feet (c) Parking. As required in Char:ter 4 of this Code. (d) Landscaping. As required in Chapter 4 of this Code. LDc on-line 6-19-17 (e) Signs. As required in section 5.06.00 of this Code. (5) Native vegetation Retention. As required in section 4.06,00 of this Code. (6) Usable open space. (a) Projects of 40 or more acres in size shall provide a minimum of 70% usable open space. (b) Usable open space includes active or passive recreation areas such as parks, playgrounds, golf courses, waterways, lakes, nature trails, and other similar oPen spaces. Usable open space shall also include areas set aside for conservation or preservation of native vegetation and landscape areas. {c) open water beyond the perimeter of the site, street right-of-way, except where dedicated or donated for public uses, driveways, off- street parking and loading areas, shall not be counted towards required usable open space. b. Rural villages. Rural villages, including rural villages within the NBMo, may be approved within the boundaries of RFMU receiving lands, subject to the following: (1) Allowable Uses: (a) All permitted uses identified in section 2.03.08A.2.a.(3)(a), when specifically identified in, and approved as part of, a RURAL vILLAGE PUD. (b) CONDITIONAL USES l through 5, and 7 identified in section 2.03.08A.2.a.(3)(c), when specifically identified in, and approved as part of a RURAL VILLAGE PUD. (c) All permitted and accessory uses listed in the C-4 GeneralCommercial District, section 2.03.02 (E), sub.iect to the design guidelines and development standards set forth in this Section. (d) Research and Technology Parks, with a mlnimum size of 19 acres and a maximum size of 4% of the total rural village acreage, sub.ject to the design guidelines and development standards set forth herein, the applicable standards contained inlelliq! :_.03_.!0 C.7. Research and technology park planned unit development district guidelines and development standards, and further subject to the following: etc., etc. {e) Any other use deemed by the Board of County Commissioner to be appropriate and compatible within a rural village. (2) Mix of Neighborhood Types. Rural villages shall be comprised of several neighborhoods designed in a compact nature such that a majority of residential development is within one-quarter mile of a neighborhood center. Etc., etc. (a)Allocation of Land Uses. Specific allocations for land uses including residential, commercial and other non-residential uses within rural villages, shall include, but are not limited to: i. A mixture of housing types, including attached and/or detached single family, as well as multi-family shall be provided within a rural village. A minimum of 0.2 units per acre in a rural village shall be affordable housinS, of which at least 0.1 units per acre shall be workforce housing. The rural village shall be designed so as to disperse the Affordable and workforce housing units throughout the Village rather than concentrate them in a single location. ii. A mixture of recreational uses, including parks and village greens. iii. Civic, community, and other institutional uses. LDC on-line 6-19-17 iv. A mixture of lot sizes, with a design that includes more compact development and attached dwelling units within neighborhood centers and the village center, and reduced net densities and increasingly larger lot sizes for detached residential dwellings generally occurring as development extends outward from the villaBe center. v. A mixture of retail, office, and services uses. vi. lf requested by the Collier County School Board during the PUD and/or DRI review process, school sites shall be provided and shall be located to serve a maximum number of residentialdwelling units within walking distance to the schools, sub.iect to the following criteria: a) Schools shall be located within or adjacent to the village center; b) A credit toward any applicable school impacts fees shall be provided based upon an independent evaluation/appraisal of the value of the land and/or improvements provided by the developer; and c) Schools shall be located in order to minimize busing of students and to co-locate schools with public facilities and civic structures such as parks, libraries, community centers, public squares, greens and civic areas. vii. Within the NBM Overlay, elementary schools shall be accessed by local streets, pedestrian and bicycle facilities, and shall be allowed in and adracent to the rural village center, provided such localstreets provide adequate access as needed by the School Board. (b) Acreage Limitations. i. Rural villages shall be a minimum of 300 acres and a maximum of 1,500 acres, exclusive of the required green belt. [add'l text N/A] ii. Neighborhood center - 0.5% of the total rural village acreage, not to exceed 10 acres, within each neighborhood center. iii. Neighborhood center Commercial - Not to exceed 40% of the neighborhood center acreage and 8,500 square feet of gross leasable floor area per acre. iv. Village center - Not to exceed 10% of the total rural village acreage. v. Village center commercial - Not to exceed 30% of the village center acreage and 10,000 square feet of gross leasable floor area per acre. vi. Research and Technology Parks limited to a minimum size of 19 acres and a maximum size of 4Yo of the total rural village acreage. vii. Civic Uses and Public Parks - Minimum of 10% of the total rural village acreaSe. (3) Density. A rural village shall have a minimum density of 2.0 units per gross acre and a maximum density of 3.0 units per gross acre, except that the minimum density within a NBMO rural village shall be 1.5 units per gross acre. Those densities shall be achieved as follows: (a) Base density. A base density of 0.2 dwelling units per acre (1..0 dwelling units per five acres) for lands within the rural village, and the land area designated as a greenbelt surrounding the rural village, is granted by right for allocation within the designated rural village. LDC on-line 6-19-17 (b) Minimum density. The minimum gross density in a rural village is 2'0 units per acre outside of the NBMO and 1.5 units per acre within the NBMO. i. For each TDR credit used to achieve the minimum required density in a rural village, one Rural village Bonus credit shall be granted. Rural village Bonus Credits may only be utilized in rural villages and shall not be available for use once the minimum required density is achieved. ii. The minimum density shall be achieved through any combination of TDR Credits, Rural Village Bonus Credits, and TDR Bonus Credits. (c) Maximum density. The maximum gross density allowed in a rural village is 3.0 units per acre. The maximum density shall be achieved through any of the following, either in combination or individually: i. TDR credits; ii. TDR Bonus Credits; lii. An additionaldensity bonus 0.3 units per acre for the additional preservation of native vegetation as set forth in !hnl]!-el..{; iv. An additional density bonus of 0.3 units per acre for additional wetlands mitigation as set forth in -C.l,r.a_plel 4; and/or v. An additional density bonus of 0.5 units per acre for each Affordable or workforce housing u nit. (4) Other Design Sta nda rds (a) Transportation System Design. i. The rural village shall be designed with a formalstreet layout, using primarily a grid design and incorporating village greens, squares and civic uses as focal points. ii. Each rural village shall be served by a primary road system that is accessible by the public. Neighborhood circulator, Local Residential Access and Residential Loop roads may be gated. The primary roads within the rural village shall consist of Rural Major Collectors at a minimum and be designed to meet county standards and shall be dedicated to the public. iii. A rural village shall not be split by an arterial roadway. iv. lnterconnection between the rural village and adjacent development s sha ll be requ ired. v. Neighborhoods, neighborhood centers, and the village center shall be connected through local and collector streets and shall incorporate traffic calming techniques as may be appropriate to discourage high-speed traffic. vi. Public transit and school bus stops shall be co-located, where practicable. vii. Pedestrian paths and bikeways shall be designed so as to provide access and interconnectivity. (b) Location Restrictions and Standards. i. ln locating both schools and housing units within the rural village, consideration shall be given to minimizing busing needs within the communitY. ii. A rural village shall not be located any closer than 3.0 miles from another rural village. LDC on-line 6-19-17 iii. No more than one rural village may be located in each of the distinct RFMU district Receiving Areas depicted on the FLUM and on the Official Collier County zoning Atlas maps. iv. A rural village shall have direct access to a roadway classified by Collier County as an arterial or collector roadway. Alternatively, access to the rural village may be via a new collector roadway directly accessing an existing arterial, the cost of which shall be borne entirely by the developer. v. A rural village shall be located where other public infrastructure, such as potable water and sewer facilities, already exist or are planned. (c) Size Limitations. rural villa8es shall be a minimum of 300 acres and a maximum of 1,500 acres. [add'ltext N/A] This required rural village size is exclusive of the required greenbelt area set forth in se-clion 2.03 08 (AX2XbX6). (d) Additional Village Design Criteria: Rural villages shall be designed in accordance with the following provisions: etc., etc. (5) Native vegetation. Native vegetation shall be preserved as set forth in.-!,e!-!iq,ll 4.Q6-,_0-*. (6) Greenbelt. Except within the NBMO rural village, a greenbelt averaging a minimum of 300 feet in width, but not less than 200 feet in width at any location, shall be required at the perimeter of the rural village. The greenbelt is required to ensure a permanently undeveloped edge surrounding the rural village, thereby discouraging sprawl. Greenbelts shall conform to the following: (a)Greenbelts may only be designated on RFMU receiving lands. (b) The allowable residential density shall be shifted from the designated greenbelt to the rural village. (c) The greenbelt may be concentrated to a greater degree in areas where it is necessary to protect listed species habitat, including wetlands and uplands, provide for a buffer from adjacent natural reservations, or provide for wellfield or aquifer protection. However, at no location shall the greenbelt be less than 300 feet in width. (d) Golf courses and existing agriculture operations are permitted within the greenbelt, subject to the vegetation retention standards set forth in section 4.06.04. However, golf course turf areas shall only be located within 100 feet of the greenbelt boundaries (interior and exterior boundary); further, these turf areas shall only be located in previously cleared or disturbed areas. (7) Open space: Within the rural village, a minimum of 40% of open space shall be provided, inclusive of the greenbelt. (8) Process for Approval of a rural village. Applications for approval shall be submitted In the form of a Planned Unit Development (PUD) rezone ... etc., etc. 4. RFMU sending lands. a. Allowable uses where TDR credits have not been severed. {1) Uses Permitted as of Right: (a) Agricultural uses consistent with Sections 763.3762 and 823.14(6) Florida Statutes (Florida Right to Farm Act). (b) Detached single-family dwelling units, including mobile homes where the mobile home Zoning Overlay exists, b. LDC on-line 6-19-17 (c) Habitat preservation and conservation uses. (d) Passive parks and other passive recreational uses. (e) Sporting and Recreationalcamps, within which the lodging component shall not exceed 1 unit per 5 gross acres. (f) Those essential services identified in seclion 2.01.03(B). (g) Oil and gas exploration, subject to applicable state and federal drilling permits and Collier County non-environmentalsite development plan review procedures. Directiona l-drilling and/or previously cleared or disturbed areas shall be utilized in order to minimize impacts to native habitats, where determined to be practica ble. Etc., etc. (2) Accessory uses. Accessory uses and structures that are accessory and incidental to uses permitted as of right in LDC,:e_qiie!1.2.Q3-Q8 A.4.a.1above. (3) Conditional uses. (a) Those essential services identified in_segti_oL2-0_1._93 G.2. (b) Public facilities, including solid waste and resource recovery facilities, and public vehicle and equipment storage and repair facilities, shall be permltted within Section 25, Township 49S, Range 26E, on lands adjacent to the existing County landfill. This shall not be interpreted to allow for the expansion of the landfill into Section 25 for the purpose of solid waste disposal. (c) Oil and gas field development and production, subject to applicable state and federalfield development permits and Collier County no n-environmental site development plan review procedures. Directiona l-d rilling and/or previously cleared or disturbed areas shall be utilized in order to minimize impacts to native habitats, where determined to be practicable. Etc., etc. (d) Commercial uses accessory to permitted uses 1.a, 1..c. and 1.d above, such as retail sales of produce accessory to farming, or a restaurant accessory to a park or preserve, so long as restrictions or limitations are imposed to insure the commercial use functions as an accessory, subordinate use. Uses allowed where TDR credits have been severed. (1) Uses Permitted as of Right: (a)Agricultural uses consistent with Sections 763.3762 and 823.14(6) Florida Statutes (Florida Right to Farm Act), including water management facilities, to the extent and intensity that such operations exist at the date of any transfer of development rights. (b) Cattle grazing on unimproved pasture where no clearing is required; (c) Detached single-family dwelling units, including mobile homes where the mobile home Zoning Overlay exists, at a maximum density of one dwelllng unit per 40 acres. ln order to retain these development rights after any transfer, up to one dwelling must be retained (not transferred) per 40 acres. (d) One detached dwellinB unit, including mobile homes where the mobile home zoning overlay exists, per lot or parcel in existence as ofJune 22, L999, that is less than 40 acres. ln order to retain these development rights after any transfer, up to one dwelling must be retained (not transferred) per each lot or parcel. For the purposes of this provision, a lot or parcel shall be deemed to have been in existence as of June Zz, 7999, upon a showing of any of the following: LDC on-line 6-19-17 i. the lot or parcel is part of a subdivision that was recorded in the public records of the County on or before June 22,7999; ii. a description of the lot or parcel, by metes and bounds or other specific legal description, was recorded in the public records of the county on or before J une 22, !999; or iii. an agreement for deed for the lot or parcel, which includes description of the lot or parcel by limited fixed boundary, was executed on or before June 22, L999. (e) Habitat preservation and conservation uses. (f) Passive parks and passive recreational uses. (g) Those essential services identified in sectioQ 2.01.03 B. (h) oil and gas exploration, subject to applicable state and federal drilling permits and Collier County non-environmentalsite development plan review procedures. Directiona l-drilling and/or previously cleared or disturbed areas shall be utilized in order to minimize impacts to native habitats, where determined to be practica ble. Etc., etc. (i) Mitigation in conjunction with any County, state, or federal permitting. (2) Conditional uses: (a) Those Essential Uses identified in s,g_qljg.[ 2.01._Qf G.2. (b) oil and gas field development and production, subject to applicable state and federal field development permits and Collier County non-environmental site development plan review procedures. Directiona l-d rilling and/or previously cleared or disturbed areas shall be utilized in order to minimize impacts to native habitats, where determined to be practicable. Etc., etc. (c) Condltional use approvalcriteria: ln addition to the criteria set forth in_igliq.!. 10.08,00 of this Code, the following additional criteria shall apply to the approval of conditional uses within RFMU sending lands : i. The applicant shall submit a plan for development that demonstrates that wetlands, listed species and their habitat are adequately protected as specified in Chapters 3,4 and 10. ii. Conditions may be imposed, as deemed appropriate, to limit the size, location, and access to the conditional use. c. Density. (1) 1.0 dwelling units per 40 gross acres; or (2) 1.0 dwelling unit per nonconforming lot or parcel in existence as of June 22, L999. For the purpose of this provision, a lot or parcel which is deemed to have been in existence on or before June 22, L999 is: (a) A lot or parcel which is part of a subdivision recorded in the public records of Collier County, Florida; (b) A lot or parcel which has limited fixed boundaries, described by metes and bounds or other specific legal description, the description of which has been recorded in the public records of Collier County Florida on or before June 22, 1999; or (c) A lot or parcel which has llmited fixed boundaries and for which an agreement for deed was executed prior to June 22, L999. d. Native vegetation retention. As required in Chapter 4. 10 C。 LDC on―line 6‐19-17 e.Other dimensional design standards.Dimensional standards set forth in sectioI、4.02101 of this Code sha∥app:yto a∥deve:opmentin Sending designated lands ofthe RFMU district′ except as fo∥ows: (1)Lot Area and VVidth. (a)Minimum lot Area:40 acres. (b)Minimum:ot Width:300 Feet. {2)Parking.As required in Chapter 4. (3)Landscaping.As required in Chapter 4. (4)SignS,As required in螢 宝菫 -0・5.Specific vegetation standards for the RFMU district.For these specific standards′please refer tO,tti19,3,0,1や ヱC.thrOugh書 :Q、107E.ofthis Code. North Beile Meade Overiav District{NBMO). 1.Purpose and intent. 2.Generallocation.The NBMO Districtis surrounded by Golden Gate Estates to the north′east′ and west and卜 75 to the south.This NBMO compttses some 24 sections ofland(apprOximately 15′550 acres)located entirely within the RFMU District(LDC settiQ■ユ:Qミ 鐘 A.).The bOundaries ofthe NBMO District are out∥ned in l∥ustration 2.03.08C.2.a below and on the North Be∥eMeade Overlav Mapin the Future Land Use Element ofthe CMP, ′〃υstral′ορば、お3.θ 86.2.α 3.App∥cability: ao NBMO receiving lands.Permitted′conditional′and accessory uses within NBMO Receiving Lands sha∥be as set forth in LDC sectloo 2.03,08A.2′except as provided in LDC seぐ ヽlor、2,03.OS C.5.a.A∥other provisions of this Code thatimp:ementthe Future Land Use Element′Conservation and Coastal Management Element′or Public Fac∥ities Element′ including but not limited to Chapters 3′4 and 10′sha∥only be app∥cable to deve:opmentin NBMC)Receiving Lands to the extent specifica∥y stated in this section.However′a∥ development within NBMO Receiving Lands sha∥comply with a∥non―environmental review procedures for site deve:opment plans and platting as set forth in this Code.f5θ e parα .4′nscttretter=ス gFeeme″t一 ごχcα να =′ o"arrOwed by CtJJ NORTH BELLE MEADE OVERLAY DISTRICT 11 LDC on―∥ne 6-19‐17 b NBMO neutrallands Except as otherwise specifica∥y provided in LDC_sectton 2 03 08 C 4 and LDC section 2 03 08 C S b′al:deve:opment within NBMO neutra::ands sha∥be consistent with LDC section 2 03 08 A 3 c.NBttO sending lands.Except as otherwise specincally prOvided in LDC secuOn 2:Qユ ,Q3C4,all development with NBMO Sending Lands shall be consistent with LDC sectioぃ 20308A4 4 General planning and design considerationsI 5 Addltional specific area provisions a ReCeiving lands (1)Density (a)The base densitv in RFMU receiving lands′outside of a rural v∥lage is one dwel∥ng unt per ive{5)grosS acres (b)ThiS density mav be increased′through TDR credits and TDR Bonus Credits′ up to a maximum ofl dwe∥ing unit per gross acre (C)OnCe a density of l dwelling unit per gross acre is achieved through TDR credits and TDR Bonus Credits,additional density may be achieved as fo∥ows: i 01 dwe∥ing unit per acre for each acre of native vegetation preserved on― 5ite, li 0 1 dwe∥ing unit per acre for each acre of wet:ands having a functionality valtle′as assessed using the South Florida Water Management District's unified wetiands MitigatiOn Assessment Method′of 0 65 or greaterthat are preserved on Jte,and/or iii 0 1 dwe∥ing unit per acre for each acre of NBMO Sending Land thatis within either a NRPA or a bllffer area adjoining a NRPA that is dedicated to a pubiic or private entity for conservation use {2)The earth mining operalon and asphat plant usesthat currenJy exヽ tw■hin NBMO Rece市 ing Lands may conlnue and mav expand as follows etc′etc IN/Al (3)A greenbeltls not required for any developmentin N8MO Receiving Lands′ whetherinside or outside of a rural v∥lage However,any greenbelt that is provided in a NBMO rura:village sha∥be inciuded in the calculation of open space (4)NBMO ruralvl:age A NBMO ruralvil:age shal!adhere to the prov`ions for rural v∥lage set forth in section 2 03 08{A)(2)(b)′eXCept as follows: (a)Densitv An NBMO ruralv:∥age shall have a minimum gross density of 1 5 dwel∥ng units per acre and a maximum gross densitv ofthree{3)dwe!∥ng un■sper acre i The minimum required density sha∥be achieved through TDR credits′ TDR Bonus Credits′and Rura:Vi::age Bonus credits,as provided in si壁 J⊇n20308A2b{3)(C) ii Once the minimum required densitv is achieved,additional densitv may be achieved′up to the maximum ofthree(3)dwe∥ing units per gross acre through any one or combination ofthe fo∥owing: a)TDR credits; b)TDR Bonus Credits, c)0 3dwe∥ing unit per acre for each acre of native vegetation preserved on‐site, LDC on‐line 6-19-17 d)0.3 dwelling unit per acre for each acre of wet:ands having a functionality va:ue′as assessed using the South Florida Water Management Districtis Unified wetlands Mitigation Assessment Method′of O.65 or greaterthat are preserved on―skel and/or e)0.3 dwelling unit per acre for each acre of NBMO Sending Land that is within either a NRPA or a buffer area adioining a NRPA thatis dedicated to a public or private entity for conservation use. (b)Sidewa:ks shall be required on both sides ofthe streets. {C)lntercOnnected bike:anes sha∥be provided on a∥co∥ector and arterial roadways. (d)SCh00iS sha∥be located wtthin a NBMO rura:vi:lage whenever possible′in order to rninimize bussing of students.Furthermore′whenever possible′schools sha∥be co―located w:th other public fac∥ities and civic structures′such as parks′ ∥braries′community centers′public squares′greens′and civic areas. {e)Elementary schoois shall be accessible by local streets and pedestttan and bicycle facilities and sha∥be located in or adiaCent to the rural village center′ provided thatlocalstreets provide access adequate to meets the needs ofthe Schoo:8oard. b.Neutral:ands.Neutral:ands sha∥be governed by the standards set forth in scltion 黛tQ豊 襲饉 (A)(3)′with the exception that′in those neutra:lands iocated in Section 24′ Township 49 South′Range 26 East′a mlnimum of700/O ofthe native vegetation present sha∥be preserved, (Ord No 04-72′§3F;Ord No 05 27′§3E;Ord.No.05-49′§3.B;Ord No.07-67,§3E;Ord No 08-08,S3C;Ord No 12-38′§3.C,Ord.No.16- 27′§36) 2.03.01‐Agricuitural Districts. A.Rural Agricuitural District(A). 1.The following subsections identify the uses that are permissible by ttght and the uses that are a∥owable as accessory or conditiona:uses in the rural agricultural district{A). b.ス ccessOFy“ses. 1.Uses and structures that are accessory and incidentalto the uses permitted as of right in the A district. 2.Farm iabor housing′subieCt tOoection S.0503. 3.Reta∥sale of fresh′unprocessed agricultural products′grown primarily on the prOperty and subleCt tO a review of traffic circulation′parking′and safety concerns pursuant to the submission of a site improvement plan as provided forin section 10①2.03. 4.Packinghouse or similar agricultural processing of farm products produced on the property subject to the fo∥owing restrictions:etc.′etc. 5.Excavation and related processing and production subject to the fo∥owing criteria: i.The activity is clearly incidental to the agricultural deve:opment ofthe property. il.The affected area is within a surface water management system for agricuitural use as permitted by the South Florida Water Management District(SFWMD). 13 LDC on-line 6-19-17 iii. The amount of excavated material removed from the site cannot exceed 4,000 cubic yards. Amounts in excess of 4,000 cubic yards shall require conditional use approval for earthmining, pursuant to the procedures and conditions set forth in LDC section 1"0.0B.00 and the Administrative Code. 6. Guesthouses, subject to section 5,03.03. 7. Private boathouses and docks on lake, canal or waterway lots, subject to section 5.03.05. 8. Use of a mobile home as a temporary residence while a permanent single-family dwelling is being constructed, subject to the following: etc., etc. 9. Use of a mobile home as a residence in conjunction with bona fide agricultural activities subject to the following: etc., etc. 10. Recreational facilitles that serve as an integral part of a residential development and have been designated, reviewed and approved on a site development plan or subdivision master plan for that development. Recreational facilities may include but are not limited to golf course, clubhouse, community center building and tennis facilities, parks, playgrounds and playfields. 2.01.03 - Essential Services Essential services are hereby defined as services designed and operated to provide water, sewer, gas, telephone, electricity, cable television or communications to the general public by providers which have been approved and authorized according to laws having appropriate jurisdiction, and government facilities. Essential services are allowed in any zoning district subject to the following conditions: A. The following uses shall be deemed permitted uses in all zoning districts, except coN districts, RFMU sending lands, NRPAS, HSAS, and FSAS: 1. Water lines and sewer lines; 2. Natural gas lines, except those associated with oil extraction and related processing operations as defined in this Code and regulated under applicable federal and state law; 3. Telephone lines, telephone switching stations, and cable television lines; 4. Communication towers, limited to those providing wireless emergency telephone service, subject to all applicable provisions in section 5.05.09 of this code; 5. Electrical transmission and distribution lines, substations, and emergency power structures; 6. Sewage lift stations and water pumping stations; 7. Essential service wells (including extraction facilities and requisite ancillary facllities); 8. Any other wells which have been or will be permitted by the South Florida Water Management District or the Florida Department of Environmental Protection either prior to or subsequent to the effective date of this ordinance, or if the respective well and/or well related facility is otherwise required to be installed or constructed by law. Etc., etc. 9. Conservation Collier lands which provide for permitted nondestructive, passive natural resource based recreational and educational activities, exclusive of major improvements. Etc., etc. B. Permitted essential services in CON districts, RFMU sending lands, NRPAs, HSAS, and FSAS. 1. Within CON districts, Sending Lands in the RFMU district, NRPAS, and within designated Habitat Stewardship Areas (HSA) and Flow way Stewardship Areas (FSA) within the RLSA 14 LDC on-line 6-19-17 overlay district subject to the limitations set forth in section 4.08.08 C., the following essential services are permitted: a. Private wells and septic tanks; b. Utility lines, except sewer lines; c. Sewer lines and lift stations, only if located within already cleared portions of existing rights-of-way or easements, and necessary to serve a publicly owned or privately owned central sewer system providing service to urban areas; or the Rural Transitlon Water and Sewer District, as delineated on the Urban-Rural Fringe Transition zone Overlay Map in the Future Land Use Element of the GMP; and, d. Water pumping stations necessary to serve a publicly owned or privately owned central water system providing service to urban areas; or the Rural Transition Water and Sewer District, as delineated on the Urban-Rural Fringe Transition Zone Overlay Map in the Future Land Use Element of the GMP. e. Conservation Collier lands which provide for permitted nondestructive, passive natural resource based recreational and educational activities, exclusive of major improvements. Etc., etc. f. Aviation related uses... N/A G. Conditional uses. The following uses require approval pursuant to section 10.08.00 conditional uses : 1.. Conditional essential services in every zoning district excluding the RFMU district sending lands, CON districts, NRPAS, and RLSA designated HSAS and FSAS. ln every zoning district, unless otherwise identified as permitted uses, and excluding RFMU district Sending Lands, CON districts, and NRPAS, the following uses shall be allowed as conditional uses: a. Electric or gas generating plants; b. Effluent tanks; c. Major re-pump stations sewage treatment plants, includinB percolation ponds, and water aeration or treatment plants, d. Hospitals and hospices; e. Government facilities, including where not identified as a permitted use in this section, safety service facilities such as including law enforcement, fire, emergency medicalservices; and f. Conservation Collier lands which provide for permitted, nondestructive, passive natural resource based recreationaland educationalactivities, when such sites require major improvements to accommodate public access and use. Etc., etc. 2. Conditional essential services in RFMU sendint lands, NRPAS, CON districts, and RLSA designated HSAS and FSAS. Within RFMU District Sending Lands, NRPAS, CON districts, and the RFLA designated HSAS and FSAS subject to the limitations set forth in.s,eclion 4Q8.Q9. C.2., in addition to the essential services identified as allowed conditional uses in subsection,2.01..03 G.1. above, the following additional essential services are allowed as conditional uses: a. Sewer lines and lift stations necessary to serve a publicly owned or privately owned centralsewer system providing service to urban areas; or the RuralTransition Water and Sewer District, as delineated on the Urban-Rural Fringe Transition Zone Overlay Map in the Future Land Use Element of the GMP, when not located within already cleared portions of existing rights-of-way or easements; LDC on-line 6-19-17 b. Safety Services limited to law enforcement, fire, and emergency medical services; and c. Oil and gas field development and production, as defined and regulated in this code, remains a conditional use on or beneath Conservation Collier lands established in the CON zoning district subject to subsectio n,Z.!]!ll9 B.l..c.i. 3. Additional conditional uses in residential, and estate zoned districts, and in RFMU receiving and neutral lands. ln residential, agricultural, and estate zoned districts and in RFMU Receiving and neutral lands, in addition to those essential services identified as conditional uses in seclion 2.01.03 G.1. above, the following essential services shall also be allowed as conditional uses: a. Regional parks and community parks; b. Public parks and public library facilities; c. Safety service facilities; d. Other similar facilities, except as otherwise specified herein. 4. conditional uses that include the installation of structures: a. Where structures are involved other than structures supportinB lines or cables, such structures shallcomply with the regulations for the district in which they are located, or as may be required on an approved site development plan under sg. cI-S 'f-.1O.02.03.ln addition, the structures shall conform insofar as possible to the character of the district in which they are located as to development standards, as well as architecture and landscaping, with utilization of screening and buffering to ensure compatible with the surrounding and nearby existing and future uses. b. Within the RFMU district sending lands, NRPAs, Conservation Districts, and the RLSA HSAS and FSAS, structures supporting the conditional use shall be located so as to minimize any impacts on native vegetation and on wildlife and wildlife habitat. c. Essential services shall not be deemed to include the erection of structures for commercial activities such as sales or the collection of bills in districts from which such activities would otherwise be barred. Unstaffed billing services, which are accessory uses to the normal operations of the essential service, may be permitted. (Ord. No. 04-72, 5 3.C; Ord. No. 06-07, S 3.0; Ord. No.08-11, 5 3.8; Ord. No. 12-25, 5 3) 2.03.07 - Overlay ZoninB Districts D. SpecialTreatment Overlay (ST). 4. Transfer of Development Rights (TDR). c. TDR credits from RFMU sending lands: General Provisions i. Creation of TDR credits a) TDR credits are generated from RFMU sending lands at a rate of l TDR credit per 5 acres of RFMU Sending Land or, for those legal non-conforming lots or parcels of less than 5 acres that were in existence as of J u ne 22, L999, at a rate of l TDR credit per legal non-conforming lot or parcel. b) For lots and parcels 5 acres or larger, the number of TDR credits generated shall be calculated using the following formula: # of acres x 0.2 = f of TDR credits generated. 16 LDC on-line 6-19-17 Where the number of TDR credits thus calculated is a fractional number, the number of TDR credits created shall be rounded to the nearest 1/100th. ii. Creation of TDR Bonus credits. TDR Bonus credits shall only be generated from RFMU sending land property from which TDR €redits have been severed. The three types TDR Bonus credits are as follows: a) Environmental Restoration and Maintenance Bonus credits. Environmental Restoration and Maintenance Bonus credits are generated at a rate of L credit for each TDR credit severed from that RFMU sending land for which a Restoration and Management Plan (RMP) has been accepted by the county. ln order to be accepted, a RMP shallsatisfy the following: 1) The RMP shall include a listed species management plan. 2) The RMP shall comply with the criteria set forth in 3.05.08.4, and B. 3) The RMP shall provide financial assurance, in the form of a letter of credit or similar financial security, establishing that the RMP shall remain in place and be performed, until the earlier of the following occurs: a. Viable and sustainable ecological and hydrological functionality has been achieved on the property as measured by the success criteria set forth in the RMP. b. The property is conveyed to a County, state, or federalagency as provided in b) below. 4) The RMP shall provide for the exotic vegetation removal and maintenance to be performed by an environmental contractor acceptable to the County. b) Conveyance Bonus credits. Conveyance Bonus credits are generated at a rate of l credit for each TDR credit severed from that RFMU sending land that is conveyed in fee simple to a federal, state, or localgovernment agency as a gift. Conveyance Bonus credits shallonly be generated from those RFMU sendinB land properties on which an RMP has been accepted as provided in a)above. c) Early Entry Bonus credits. Early Entry Bonus credits shall be generated at a rate of l additionalcredit for each TDR credit that is severed from RFMU sending land for the period from March 5,2004, until March27,2012. Early Entry Bonus credits shall cease to be generated after the termination of this early entry bonus period. However, Early Entry Bonus credits may continue to be used to increase density in RFMU and non- RFMU Receiving Lands after the termination of the Early Entry Bonus period. iii. Calculation of TDR Bonus credits. a) Environmental Restoration and Maintenance Bonus credits are calculated as follows: # TDR credits generated from property x % property subject to an approved RMP b) Conveyance Bonus credits are calculated as follows: # TDR credits generated from property x % property subject to an approved RMP and conveyed as provided in ii.b) above. c) Early Entry Bonus credits are calculated as follows: # TDR credits generated within Early Entry period x 1. t7 LDC on-line 6-19-17 iv. Receipt of TDR credits or TDR Eonus credits from RFMU sending lands. TDR credits or TDR Bonus credits from RFMU sending lands may be redeemed into Urban Areas, the Urban Residential Fringe, and RFMU receiving lands, as provided in subsections 2.03.07 4.d. and e. below. v. Prohibition on redemption of fractional TDR credits and TDR Bonus credits. While fractionalTDR credits and TDR Bonus credits may be created, as provided in (ii) above, TDR credits and TDR Bonus credits may only be redeemed in increments of whole, not fractional, dwelling units. consequently, fractional TDR credits and fractional TDR Bonus credits must be aggregated to form whole units, before they can be utilized to increase density in either non-RFMU Receiving Areas or RFMU Receiving lands. vi. Prohibition on severance of development rights. a) Neither TDR credits nor TDR Early Entry Bonus credits shall be Senerated from RFMU sending lands where a conservation easement or other similar development restriction prohibits the residential development of such property, with the exception of those TDR Early Entry Bonus credits associated with TDR credits severed from March 5, 2004, until lthe effective date of this provision]. Environmental Restoration and Maintenance Bonus credits and Conveyance Bonus credits may only be generated from those RFMU sending lands where a conservation easement or other similar development restriction on development was imposed in conjunction with the severance of TDR credits. b) Neither TDR credits nor any TDR Bonus credits shall be generated from RFMU sending lands that were cleared for agricu ltura I operations after J une L9, 2402, for a period of twenty-five (25) years after such clearing occurs. [ALSO, TDR credits are only generated from privately owned lands (lands in public ownership do not generate TDR credits). (Reference FLUE, RFMUD, C) Sending Lands, 1.) HOWEVER, THIS lS SUPERSEDED BY PARAGRAPH 4 OF SETTLEMENT AGREEMENT.] lnsert FLUE RFMUD provisions? Check RFMUD for any add'l provisions/details to include here, e.g. sewer lines thru Sending Lands must be on previously disturbed la nds. Note: This document prepared for use by Collier County-contracted appraisers of Hussey lands in NBMO, Sections 29 & 32-49-27. Some portions of LDC provisions have been deleted as not applicable, or containing more detail than thought necessary for appraisal purposes. L0C excerpts Sec. 2.03.08 RFMUD RL_SL_NB[40_abbrev. G]CDES Planning Services\Comprchensive\David\RFMUD dw′6‐2917 18 SETrLEMEW ACREEMENT THIS SELEM「T AGREE闘 9 is madc and mmd intO tts□占of Febnary,2013,by and bctwm FrancL D.H―y・ Jr。,Mtt Pat Hsey,Scan Hustty, T織 ,Mike 3omn.Co‐Tme Ofthe SR 346 Land T磁 ,Ronald Lo Brown・ Co‐ Tmec ofthe sR 846 Land鶴 JoS"h BOnness,■"ident of Wincher Ltes,hc.,alld―Invesm●●ts,LoP,o騰 “0聞 鴻r'')and COllier(bmり ,FloridL a polil無d 鹸 宙轟)n oft簾 撫 Fl顔 ぬ rthe“comtyり 。 WHEREAS, the Plainti堡 , FRANCIS Do HUSSEY, JR., 譴戯 MARY P. HUSSEY,husband and■お,cthe“I・ Ius“ドリare theお ●omers oFc翻 威n real pror守 within Sections 29 and 32 ofthe aret within Collier County∞mmonly ttf―d to as機 Ntt Belle Mcade〔機“HHH Rancr)l and WHEREAS, the plainti鷲 ⅧCHESTER LAKES CORPORAT10N C呵 "磁 nChester Lakeゞ )h01dS a leasehold ineest h the HHH Ranch and holds conmctual Fights to subsFace minmls including the耐 .ュ レvlnd rock and a conmctual減 ♪t tO share m the pr..eds ofthis action;and WIIEREAS,巌 HusEys and Winchester hks have■lod 3●laim ttainSt C。llier QЩ けunder FIorida Stattes§70.001 cthe“税試抽直SAぱ り,and have also饉 lod claim challttging the∞面面onaliり ofthe Rml Fringe Amendments F鴫 38nt Oた 電de X SeC,α ⇒Ofthe Florida ComitutiOn;and WHEtthS,the pries●sh the setde this ttspute on the tems耐 co面 饉o蒻 s“ forth below。2 WITNESSETH8 NOW,THEREFORE,in considmtion Of Ten Dollars($10.00p and other goOd and vduable∞nsideration exchanged amongst the pmies,and in considmtion of the covenants contained heret theparties agtt as fouows; 1. Incorp●ntlon by reFerencee All ofthe above RECrrALS aFe me and comct and are機 "by eXpressly incorporated heFin by ref― ce as if set fon luly below。 2. N8ture or thtt settlemeEt, 詢 S Setdement Agreement involves an exchange of development between two large pauls located within the Rml FFinge 血 ed Use Di面 ct GFMUDl of Collier County.■Fm.OmpOnent changes the desipation of 578 acres of that land known as ule`寝 Шsey Lands"鍋 m Sending to Receiving Lands.職 second component changes the desiption Of 578 acs of tat land known as儀 “SR 346 Lands"鍋 m Recei宙 ng to Sending Lands.By tts exchange, the bdance ofdevelopment dnts宙 血the Rml Fringe Mixed Use Dittct remains sub釧 ほュ饉ally the same. Addittonal consid亜 ons are detailed below. The n.ssev Lands 3, ■海 Hussey Lands a℃graphically depicted in Exhib鸞 へ and cOmprise a total of l,110 acres.職 se lands鐵 located within the Ruml FFinge Mixed Use Dittict and“dl cmently dcsignated as Sending Lands.Exhibit A 8pprOXimately depicts how the Hussey Lands are to be divided.恥 578 acres non ofthe boundav line will be changed bm Sending to Receiving Lnds,and COllier County will amend the FutlE Land Usc Map deЫ gntton ofthese 578 acres ac側 山 ngly.E油 ibit B cOntahO the leg己 description of these 578 acres,nich shall deflne and control which iands have been redesipated as Recei前唱 Lands。口騰 remainilng 523 acrcs of the Hussey Lands宙 11 -ain Sending Lands.■に carly enw TDR bonus density credit shali be ended fOr thH(3)ycarS fOr these Sending Lands attr approvd by the COttt of雌 sArmentor3 such othcr date as may be extrnded gcnerally for other RFMUD Scnding lrndq whichevet is the latcr datc. 4. Within 180 days follo囃 ng the c鐵鷲 date of this semment Agttmett the H―ys shall deed“the Counw one hmared and d♪サ(180)feet Of Jght‐of‐way for the薇 山К Wi130n BOulevard Extesion olaCkbtt Rcadl a10ng the "uthm proper line ofthe HHH Ranch.釉 e dedicated iand is depicted on Exhibit C, and oompnses approxlmtely 22.313 acres.Th,Owna will―ive S55,795 in rond mpact ree c●diむ for this dedi“お島vdued tt S2,500 per acre.Lcse rond impact c●dits shall ine to the benettt of tt HNey Lant,and哺 li nm h pepotuity,No mer considentiott will be due to the Husseys for this dodicatio島 量露pdive of tetherthc hpt Fee C:饉 "are or tt be utitt in wholo orin paFt.The嵐 ght of my and stomwatr p田 っ13宙 1l be mnstrtt tO the County in tte simple,by stamory umnty deed,sutteCt tO easement3 and rewrvatiott of 80rd.The Coutty shall be mponsbb for p響 職the COm Of彎 餞饉e WOtt and geaEhes,観 儀I・ I‐seys shall機 中 ible For tti costs inc―d in pmmpay removin3 0F Cuttg dllietB,cncumbFanCCS or deiciencies ttealed in any title Ж)t fouOWing which the Husseys宙 1l pro宙 de the Ottce of the County Attomey with an executed ded,suntable fOr Hording.Upon ―ipt the Comty at抽 ∞競 颯 l‐ord the deed in tt Public Re●ords ofthe COunty, 職 Husseys哺 機 p―itted aress onto the f猥 欝 WilsOn 3oulev墨 取軸 ion for red山 駐tu and ttculmluses,菫 th at least twO uc‐in I.cations that p―itlet tLtt in, ■●Husseys l翼 y be p―itt access onto the tt Wお∝BOulevard Extmsion for 轟hading of excavated醐 撤ials,饉 ch access宙 u be証可銀to the∞面ほOns Ofany 妹∝vadon p―its oF COnditional use that may be o勧 曲燎彙 The Husseys・ 酬 減範 mts to dmsity and TDtt shau include the―dedicated to the COunty identined in Exhibit C. 5。 職HHH Ranch iands shall be sl呵 観tO the Prewtton and Native Vege協 饉on Rctmtion Standads within CCME Policies 6.1,2 and 6.1.5 based upon the existing ttve vegetation as depicted by a FLUCCS MaP,which Map shali be p=印 and by the Hueys,sutteCt tO aprOVal by the County.Lis Map is tO be pepand and P―ntd O機 COunty for revi爾 宙 備 n180 days of tt ef翫 通ve A羹 ね 。f tts4 Agrecarot" Tbe panics will coopcrate with onc anotbcr to cnsurc a mutually agreeablc FLUCCS Map. The SR 846 L3nds 6, ne SR 346 Lands are rphiCally depiaed in Exhibtt D,and∞副藤鱒a t漁 醸of 2,576 aceo nese lands are looted、だぬ:薇 the RunI F五 nge Mixed lJsc Dinict and are c―ntly desipted as Recei宙 電 hdso As dettled below・ 578 acres oftte SR 846 Lands宙 :i be convded■om Roivingto S鐵 鮨 嘔Lands,in order m mirrOr畿 578 8-Of H―y hnds being convmed■Om Sending to Rmiving L熱 ゝ職 … 1,998 acres shall縛 嶽血desipted as Rot宙 霧hndso mibit E xts fot 歯D Lcgtt Dり 、cttptio織 ofthe SR 346 Lands。 7t Exhiut D OFOXimatly depicts tt SR 846 Lands to be dvided i面 Smding and勲 麟iving hds,The 578鑢 碑s nich tt denoted by tt appropnate L●hmark will be changed hm Receiving Lands to Sending Lands,and Conier Comty哺 11 ammd the F面 購 Land Usc Map dedgnation of these 578 acres accordingly,Ltt is p―ntly no Legal Description for these proposed k“iving and Sending Lands.Atぬ ● time the SR 346 Lands are developed,or when TDR五 ghts are severed,the owner ofthe SR 346 Lands願 畔 make minor cbanges to the depicted mas,and tt such time a Lc881 bription deSting the 578 acre Sending tact and the l,998-s ofReceiving範 試(⇒ shall be p―and fO―ded to the Comty.1し “ 職 り Mnger or his desi騨 "isauthori4d to ndm轟 smtittly demine wheter the changcs to the deplcted areas ∞mtitute a轟 nOr change,with anyotteCtiOn sctteCttO ade novore宙 ew by tte Board of County CO―issiomぃ 。樹 輌 or Changes to the dい lCted areas mxt be approved by maJonty vom OFthe Board oFCounty CommissiOtl‐.8. 職 sR 346 Lnds may be deve10rtt in 300mance wiぬ the provlttons hmin ortれ RFMU…gendly as may be amendod(or a cOmbh画 。■崎 on separate pan13)、 One rOad may be pFOVided inぬ e Sending Lands to facilital・a comotionゎ hmOkal"R●己 助●●arly enw TDR bonus densiサ credit Shali be extend€d for three (3) years for the Sending Lands aftcr approval by &e Cout of this Agtwrncnt or such other date ss may be extcndcd genwlly for other RFMUD Sendi:ng Lao& whichever is thc later dats. A Conditional Use for csrthmining and extraction was prcviously approved for this property (Resolution No. 2012-15), a portion of which is changed from Recciving to Scnding Lands by this Agreement. Earthmining aod c:rtrastion are no longer p€rmittod on SR 846 Sending Lands md no amcndmcnt of Resolution No. 2012-15 is nccessary to e,nforcc this prohibition on earthmining aud oruactions on the SR 846 Scnding Lands, Nothing in this paragraph shall confer any nrining rights on the Husscy Lands. tqrtl Matten 9. Non-edml*ion of [rbiltty. It is undcrstood and agreed that this Ssttleu$ut Agreerrent is the comprcmise of disprned claims, and rhat nothing contained horcin shall be construed as an sdrnission of liability, fault or responsibility as to sny claims or allegations on &c part of any party, which liability is cxpressly denied. 10. Mutual Generel Releare. Each of the parties signing below, on behalf of themsclves, &eir former and prcsent employees, agonts, officers, directors, scnrrots, represontatives, insutrs, assigrs and prcdecessors and successors in interest, hereby releases and forsver discharges each and evcry othcr party $gning bElow, togcthc with their former and prescnt cmployees, agcnts, officers, dircctors, scryants, representatives, insners, assigns, and predecessors and succcssors in intcrest, from any and all claims of whatcver nature or description, which rclate to, arise fiom, or could havc been alleged, in the rbove captioned lawsuits. 11. Yoluntrry Erecudon. This Agrccmert contains the eutirc agre€mcnt bstwcen the parties hcrcto regarding thc resolution of their disputos. Thc partics acknowledgc that this Agrccmcnt is frccly and voluntarily executod aftcr they have been spptiscd of all rclevant information concerning thc Agrccurent and that they have had the opportunity to consult with and receive thc advice of counsel in entering into this A8卿 臨 mた In ex●●utilng tts聰 卿 ment the pmies aclcnOwledge that they have not relied on tty hdu嘔 蹴ents,Fomtses,Or中 国lons other than tose contained 柚 辱 in.■麗 Apement is the pFOd“t Of muml ne80tiation att no dOubm or alnbi邸 潤provisiOn that ntt exitt h thisメ 甲翻コmtis to be co―d againd any of the partis based upon a olaim that one Of tt parti"dntdthe A_ent"that the lan騨 :辞 oftt A・ gmment tt intended to favor one ofthe parties, 12. OovemLg lavJ.■is A伊 国醸減 ふ州 be dmed tO bave becn made and to beprom颯 and shali be intOreted,commed and enforcet in accordancc宙 th the laws ofthe State ofFlori砿 13.MIttple Co●■terp●由。Lisへ 野ement mtty be ex∝uted by the partics h idmtical∞unterpem,whitt takenゎ getheL sha■∞mimte a∞mplete面 Jml. 14. MOd韻 鶴饉Ons。■is AF―ent Camot be amended,mOdiied or 霊 っlined ex.●pt by aF―ent and witm d∝mm、ⅥほCh iS Sitted by Jl pmtes hmtot No oml曲 趨mi made by anyper30n Sha1l opemate to modit this A_ent in 3mly maaner or o―i"Fectお ぃ and pFOVidO鵬,15. 蹄 enbtttyo h the eventthatany m or prO宙 sion ofthis A_entお dmmed unenfo―ble oF mla劇 回 for any psOn,the mttda ofthe Agreementshan be deemed mforuble andin em. 16. Enforcettbttty and AdopdOn.■お Ap∝ment is erective upon the date itお 3/pprOved by the BoaFd Of COunty Com山 雨Onctt Of cOuier county,F:orida.■壼s AFment鶴 鉗可ect tO ttproval by the CO饉 .Upon appFOVal by the Cott and the expintion oF th irne wittn端 ch for any lはd pmtes t0 0ppeal,or the uphOlding of this叡 劇ment∥色flnality,ifso appaed,this atton宙 1l be dsmissed wi■pttudiCe. 17. No口 ‐walve■tt Failure of either p田 けtO enfO翼 澪at any time any ofthe pr●vi」Ons oftts柏 闘B"t Shali nOt∞面tute a waiver ofa■y such pFO宙 dOns,7 18. Authority to Blnd. The signatories hcreto each warrart and rcpresent that they have the reguisite authority to cnter into this Agreement on behalf of the respctive party. Rcnnindcr of Page Intcntionally L,eft Btank. Sipaturt Pagcs and E:rhibits to Follow.8 EXHIBIT A Exhibtt C PROJECT No.Floma Rod卜 綸ul R●●d′wlBon 3ou"詢 曝dE誠 聰覇3bnPRO」ECT PARCEL NO.110FEE FOLЮ NOS,Oo342040003こ 001諄 1900003 鸞 SECT10N 32 t―flけ 。輸暖 瞳職 em… … ,7… …… Exhibtt D “ 7H AVE躍 "AVE籠31 wnl鷲 T4 椰 AVE篠 yTH tt tt ● “ A弩 籠 |ITH A躍 籠 …3R,346-鷺 了 SttH出 躙∥`鼈CFIVHC 建綺arB●―E辮 0爆 】澪熱腱、hB゛麟彙海℃颯口"国 由歳b蘭 B颯 ―c日 曇.[“嘱ぃ:‐37‐ll…d鮨 量職 贄織 EXH:BIT`E" LECAL DESCR:FT10N SR 046 LANDS 憔駆茅Ⅷ黒ξ鵠習熙朧ぽ1名 認猟 員 躍 Ⅷ)絆 綺朧 腱:じ鵠轡搬聴鸞3押sUSEssNOri薦 蔵 NTcDI Hussy Property Location Map HUSSEY PROPERTY LOCATED IN SECTIONS 29 AND 32, TOWNSHIP 49S, RANGE 27E