1. February 4, 2009 Mississippi Lakes Symposium Demographic Overview Sardis Lake, Mississippi

2. Mississippi Lakes Symposium Slide 2 David Nissenson 571-214-9326 Waterfront Developments

3. Mississippi Lakes Symposium Slide 3 David Nissenson 571-214-9326 Opportunities and Market Sources Waterfront Development Commercial Residential Primary Residence Seasonal / Vacation Residence Development Uses Primary Market Sources Recreation and Entertainment Resort / HotelRetail Baby BoomersOther Visitors / Tourists Area Residents HH Income > $100,000++ Inter and Intra-regional Migration Median Home Value + Premium Your Project

4. Mississippi Lakes Symposium Slide 4 David Nissenson 571-214-9326 Major Lake Resources in Mississippi Arkabutla Enid Grenada Okatibbee Ross Barnett Sardis

5. Mississippi Lakes Symposium Slide 5 David Nissenson 571-214-9326 National Association of Realtors (Survey of Second Home Owners-2006)  Median age: 55-59 years (45-74 years~70%)  Married couples: 75-83%  Couples w/o children at home: 70-75%  Ethnicity: 85-95% white  Primary residence w/in 300 miles: 60% (25% over 1,000 miles)  Drive to second home: 82%  Detached single-family: 41% (versus 61% for primary)  Value of home less than primary residence: 68%  Purchase new: ~1 out of 4  Owner use (median): 39 days  2004: Good investment choice - 92%; Bad/don’t know – 8%  2005: Good investment choice - 82%; Bad/don’t know – 18%

6. Mississippi Lakes Symposium Slide 6 David Nissenson 571-214-9326 Demographic Overview

7. Mississippi Lakes Symposium Slide 7 David Nissenson 571-214-9326 Proximity Market Areas

8. Mississippi Lakes Symposium Slide 8 David Nissenson 571-214-9326 Second Homes (By Numbers)

9. Mississippi Lakes Symposium Slide 9 David Nissenson 571-214-9326 Second Homes (By Percent Share)

10. Mississippi Lakes Symposium Slide 10 David Nissenson 571-214-9326 Characteristics of Successful Waterfront Developments  Physical Attributes  Location, location, location  Natural land characteristics  Shoreline configuration  Year-round access and use  Climate  Cultural Aspects  Authenticity  Historic characteristics  Symbolic value/meaning  Architectural character  Landscape character  Maintenance  Amenities, appropriate and correctly scaled Source: New York State DOS Division of Coastal Resources; PPS; ERA|AECOM; 2009.  Economic/Demographic Variables  Age distribution  Population growth  Households  Household income  Median home value  Housing tenure Owner Occupied Renter Occupied Vacant  Scenic Qualities  Length and breadth of views  Views to site/land  Adjacent uses  Focal points (clustered experiences)

11. Mississippi Lakes Symposium Slide 11 David Nissenson 571-214-9326 68 % Own Homes32% Rent Homes U.S. Household Base

12. Mississippi Lakes Symposium Slide 12 David Nissenson 571-214-9326 ESRI LifeMode Groups LifeMode Tapestry Segments Households (millions) % U.S. 1. High Society711.710.6% 2. Upscale Avenues715.714.2% 3. Metropolis65.85.2% 4. Solo Acts57.87.0% 5. Senior Styles914.112.7% 6. Scholars and Patriots31.71.5% 7. High Hopes24.74.2% 8. Global Roots89.48.5% 9. Family Portrait58.67.7% 10. Traditional Living410.19.1% 11. Factories and Farms511.09.9% 12. American Quilt410.49.4% Total65111.1100%

13. Mississippi Lakes Symposium Slide 13 David Nissenson 571-214-9326 LifeMode Household Changes

14. Mississippi Lakes Symposium Slide 14 David Nissenson 571-214-9326 LifeMode Average HH Size

15. Mississippi Lakes Symposium Slide 15 David Nissenson 571-214-9326 LifeMode Median Age

16. Mississippi Lakes Symposium Slide 16 David Nissenson 571-214-9326 LifeMode Median HH Income

17. Mississippi Lakes Symposium Slide 17 David Nissenson 571-214-9326 LifeMode Median Net Worth

18. Mississippi Lakes Symposium Slide 18 David Nissenson 571-214-9326 LifeMode Median Home Value

19. Mississippi Lakes Symposium Slide 19 David Nissenson 571-214-9326 LifeMode Home Ownership Rate

20. Mississippi Lakes Symposium Slide 20 David Nissenson 571-214-9326 Summary of Characteristics

21. Mississippi Lakes Symposium Slide 21 David Nissenson 571-214-9326 Markets by Location segment distribution

22. Mississippi Lakes Symposium Slide 22 David Nissenson 571-214-9326 Markets by Location % of US Total

23. Mississippi Lakes Symposium Slide 23 David Nissenson 571-214-9326 10 Largest Segments Median Income $150,000 +

24. Mississippi Lakes Symposium Slide 24 David Nissenson 571-214-9326 10 Largest Segments Median Income $100,000 to $149,999

25. Mississippi Lakes Symposium Slide 25 David Nissenson 571-214-9326 10 Largest Segments Median Income $50,000 to $99,999

26. Mississippi Lakes Symposium Slide 26 David Nissenson 571-214-9326 Analysis and Opportunities  Strengths  Relatively pristine  Large number of waterfront development opportunities.  Affordability an option (land price)  Warm climate  Less risk from natural disasters  Opportunities  Vast waterfront areas, including rivers, streams and lakes  Optimum size lakes with proximity to economic and urban centers  Primary residences – local market conditions  Integrated, mixed use waterfront development (at best locations.)  Weaknesses  Smaller market  Abundant competitive sites across region  Lower population growth rates, especially in the target age groups  Low average household incomes  Limited number of lakes with optimum scale and size  High levels of vacant and renter-occupied homes  Lacks Unique Selling Proposition (USP)  Not widely recognized at the national level  Financing (everywhere)

27. Mississippi Lakes Symposium Slide 27 David Nissenson 571-214-9326 Strategies to Move Forward  Developing a waterfront vision – Generate a sense of community ownership of the waterfront and defining its future  Establishing partnerships – Strengthen community involvement and ensure the key players are on board  Taking a look around – Understand your waterfront opportunities, its assets, key issues and opportunities  Developing a strategy – Pull it all together to fulfill your vision  Taking it one step at a time – Implement your vision

28. Mississippi Lakes Symposium Slide 28 David Nissenson 571-214-9326 David Nissenson Consultant 142 North Abingdon Street Arlington, VA 22203 Email: dnissenson@verizon.net Cell: 571-214-9326 Contact Information

29. Mississippi Lakes Symposium Slide 29 David Nissenson 571-214-9326 End of Presentation  Questions and Answers

30. Mississippi Lakes Symposium Slide 30 David Nissenson 571-214-9326 High Society  11.7 MM Households  10.6% of all households  Nearly one-quarter of all household income  Professionals and management  Well-educated  High levels of home ownership  Mostly married couples  Affluent neighborhoods  Limited ethnic diversity  Civic responsibilities, exercise, financial planning, travel, Internet or print over TV

31. Mississippi Lakes Symposium Slide 31 David Nissenson 571-214-9326 Upscale Avenues  15.7 MM households  14.2% of all households  Prosperous through hard work  Well-educated  Home ownership varies by personal taste  Invest in their homes  Savers/investors  Leisure activities include golf and bicycling  Partial to new cars

32. Mississippi Lakes Symposium Slide 32 David Nissenson 571-214-9326 High Hopes  4.7 MM households  4.2% of all US households  Prefer single-family homes  50% own their homes  Mobile  Younger, college-educated  One-third less than 35 years of age  Mix of married couples, single-parent families, and singles

33. Mississippi Lakes Symposium Slide 33 David Nissenson 571-214-9326 Family Portrait  8.6 MM households  7.7% of all US households  Fastest growing LifeMode  Families w/ Children  Ethnically diverse  30 percent Hispanic  Single-family homes  Large household size  Visit theme parks and zoos  Own minivans or SUV

34. Mississippi Lakes Symposium Slide 34 David Nissenson 571-214-9326 Traditional Living  10.1 MM households  9.1% of all US households  Middle America  Higher median age  Live in older, slower growing established neighborhoods  Buy American sedans  Belong to fraternal organizations  Rely on traditional information sources for news (newspapers)