Sisters of the Holy Family

Our Challenge

A Progress Report…

What is the Cost to Preserve? $302,000 - $144,000 = (Maintenance) (Lease Revenue) $158,000 Annually $2,525,000 – 20 yrs. $1,060,103 Add: $1,060,103 (Capital Reserves) $3.59 Million Site = acres Consultants

Outreach and Education Launched Website palmdale.dcgdev.com Launched Website palmdale.dcgdev.com RFP Available for Download RFP Available for Download RFP is really a search for Interested Parties RFP is really a search for Interested Parties It takes time to Reach Out & Educate

Preliminary Web Outreach Wall Street Journal Craigslist.org Lmbourse.com Loopnet.com Dcgdev.com Blog.dcgdev.com Facebook.com Twitter.com Digg.com i-newswire

Tracking our Activity

Brokers ALSO represent Preservation and Historic Organizations

Mayor of Fremont Fremont City Council City Manager City Attorney City Parks & Rec. Director Fremont Chamber of Commerce Mission San Jose Chamber of Commerce Mission San Jose Museum of Local History Ohlone Community College East Bay Regional Parks District National Trust for Historic Preservation –Including magazine & website Office of Historic Preservation National Trust Community Investment Co. CA Historical Society Alameda County Historical Society Partial list… Personal Outreach National Trust Community Investment Co.

Our Plan… Interview “Interested Parties” Ascertain level of interest Evaluate proposals based on Sister’s preservation goals

Launch of Website & Outreach EffortOctober/2009 Investigation and Collection of Data Regarding Proposals for the Preservation of the Property April/2010 Analysis and Evaluation of DataMay 2010 Presentation of Data to Sisters & ConsultationJune 2010 Leadership Team’s Decision on ProposalsSummer 2010 Next Steps: Negotiate of Required Agreements Due Diligence Inspections If Due Diligence Approved: …if traditional agreementEnd of Year 2010 …if option agreement subject to entitlementsEnd of Year 2011 Preliminary Timeline…

So what is the value of the land? Frequently Asked Questions LESSHighest and Best Valuation LESS Subjective, Mission-Oriented Considerations = Value RFP responses will help us understand these tradeoffs.

A non-profit organization formed for the express purpose of holding land (or restrictive easements on land) for its conservation, historic preservation, wildlife protection and/or recreation values, among other things. Donate or Sell to a Land Trust What are our Options?

Implications for Value The difference between a property’s value before the easement is placed on it (such as a conservation easement) and the value after the easement is placed on it. Selling the Development Rights

Acreage Exchange & Transfer of Development Rights What are our Options?

Residential Development What are our Options? Highest and Best Use

Special Considerations A stewardship endowment is money put aside by a land trust to ensure the capacity to monitor and manage its protected properties and to enforce conservation easements in the future.

Most Viable Land Trust Quimby Act could be used to acquire as a Historic Park California Nursery Historic Park in Niles which contains tree specimens with horticultural and historic significance.

What is the Right of First Offer? Contractual right that the seller must first give the rights holder the opportunity to purchase an asset, but does not set requirements for the transaction. The seller agrees to negotiate with the rights holder, and attempt to reach an agreement. If the seller and rights holder cannot reach an agreement, the seller may then negotiate with or sell to any other party. Frequently Asked Questions

We mean this …

Questions?