ESD 112 Land Acquisition

Review of Activities to Date Identified a variety of properties Conducted Board presentations/tours Conducted “level 1” due diligence Received Board directive to identify best site for Board approval Engaged with sellers Arrived at preferred site

Properties Considered 78 th Street Corporate Woods Norris Road Costco Four Seasons S.E. 136 th Ave (multiple sites) S.E. 1 st Street

Disqualifying Factors 78 th Street - Drainage, access, zoning Corporate Woods - Soils, road improvements, zoning Norris Road - Zoning, neighborhood quality Costco - Price Four Seasons - Price, neighboring uses 136 th Ave - Price, cross access, parcel sizes

Level 1 Due Diligence Olson Engineering ◦ Zoning ◦ Water availability ◦ Sewer availability ◦ Power availability ◦ Storm sewer/soils ◦ Permitting requirements ◦ Traffic/roads ◦ Jurisdictional fees

Preferred Site S.E. 1st Street ◦ 5.22 acres ◦ $1.8 million ($8/sf) ◦ Zoning is appropriate ◦ Utilities in place ◦ Road improvements in place ◦ Good storm drainage ◦ Traffic fees nominal ◦ Permitting requirements normal

$12/sf, shared access issues Sold Optioned $12/sf, 6 acres $11.50/sf, 6 acres, limited access & visibility $12-$13/sf, 6+ acres $8/sf, 5.22 acres

Next Steps/Schedule Close on property – end of October Possible construction begins winter of Significant planning between now and ground- breaking