ACTIVE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA

Transcription

1 FOR SALE LAND ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA State Road 82 Fort Myers, FL PROPERTY HIGHLIGHTS Fully licensed and operational sand and rock mine in Lee County, Florida Estimated reserves of 14 million+ cubic yards of material composed of 45% fill and 55% rock Property comprises over 553 acres with a mining footprint of 261 acres PRESENTED BY: Ashley Bloom Senior Advisor ashley.bloom@svn.com FL #SL Ron Zeigler Senior Advisor ron.zeigler@svn.com FL #BK All SN Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

2 DISCLAIMER ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA ACRES FORT MYERS, FL The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SN Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SN Advisor. Neither the SN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. All SN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

3 TABLE OF CONTENTS ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA ACRES FORT MYERS, FL 1. PROPERTY INFORMATION 4 2. LOCATION INFORMATION ADDITIONAL INFORMATION 31 All SN Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

4 FOR SALE LAND ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA State Road 82 Fort Myers, FL PROPERTY INFORMATION All SN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

5 SECTION 1 PROPERTY INFORMATION ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA ACRES FORT MYERS, FL Executive Summary PROPERTY OERIEWIEW FULLY Permitted sand and gravel mine in an area of construction development PROPERTY SUMMARY SALE PRICE: $12,200,000 LOT SIZE: Acres , PROPERTY HIGHLIGHTS Fully licensed and operational sand and gravel mine in Lee County, Florida Estimated reserves of 14 million+ cubic yards of material composed of 45% fill and 55% rock Mining footprint of 261 acres on a Property of over 554 acres Will service the growing market of Fort Myers Difficult, time consuming and costly to start a new mining operation Mining operation nearby has ceased operations due to exhaustion of resources APN #: ZONING: IPD And AG-2 MARKET: Fort Myers CROSS STREETS: State Road 82 And Bell Boulevard All SN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 5

6 MOP Lee County eplan BOARD OF COUNTY COMMISSIONERS John E. Manning District One Writer s Direct Dial: ( Cecil L. Pendergrass District Two Larry Kiker District Three Brian Hamman District Four Frank Mann District Five Roger Desjarlais County Manager Richard Wm. Wesch County Attorney Donna Marie Collins Hearing Examiner April 04, 2016 RON INGE 5771 HALIFAX AE FORT MYERS FL RE: Pine Quarry Holdings LLC Mining Operation Permit MOP Dear RON INGE: Your application for amining Operation Permit has been reviewed and approved. The mining operation must remain in compliance with LDO and RES Z as either may be amended in the future. Please be aware that the Mine Operation Permit is valid for aperiod of ten (10) years. Subsequent renewal requests must be submitted at least 90 days prior to expiration of the renewed MOP. Please also be aware that LDO is set to expire on 8/9/2019 and the MOP may not be renewed unless it is associated with an approved and valid LDO or MDO. At the end of resource extraction activities, the mine must be reclaimed in accordance with the approved plans. This approval does not relieve the development from the responsibility to obtain all other necessary Federal, State and local permits and all water level and water quality monitoring as required pursuant to RES Z If you have any questions concerning this matter, please contact this office. Sincerely, DEPARTMENT OF COMMUNITY DEELOPMENT Development Services Division Electronically signed on 4/15/2016 by Benjamin Dickson, Manager Lee County Development Services P.O. Box 398, Fort Myers, Florida (239) Internet address AN EQUAL OPPORTUNITY AFFIRMATIE ACTION EMPLOYER

7 Bell Road Mine Project Status July 2014 Community Engineering Services, Inc. (CES) was hired to collect existing conditions topographic information regarding the excavation that has been completed on the Bell Road Mine Site and to determine the volume still available of excavation. After the data was collected it was merged with the original existing conditions plan for the project. The combined plan was then utilized to determine the area and volume that has been excavated on the site. The remaining volume was then determined based on the final design cross section of the excavation to the 40 foot proposed depth. olumes were calculated in slices, the top 15 feet below control (including the proposed break in slope 6 feet down), feet below control and feet below control. Remaining volumes were calculated in the same depth breakdown since the existing excavation was not completed to the full permitted depth. The findings are as follows: Initial Predicted Excavation olume - Control Area Description Elevation Area Incremental olume, down (SF) Incremental olume, down (CY) Cumulative olume (CY) Control Break 6' down ,472, ' down ,047, ' down ,757, ' down ,391, Previously Excavated olume Incremental olume, down (SF) Incremental olume, down (CY) Cumulative olume (CY) Description Elevation Area Control ' down , ' down , ' down , Remaining for Excavation Remaining Description olume CY 0'-15' down 5,538, '-30' down 5,657, '-40' down 3,624, Fiddlesticks Blvd, PMB , Fort Myers, FL P: F:

8 community engineering services, inc. EXISTING CONDITIONS PLAN BELL ROAD MINE.

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10 Project Staff Dr. Christopher Westley, Director John Shannon, Economic Analyst Monique Carlone, Student Researcher Alesa Whitehead, Student Researcher Report Information This report is conducted quarterly by the Horizon Council of Lee County, Florida, and Florida Gulf Coast University s Regional Economic Research Institute. This work would not be possible without considerable cooperation from the Horizon Council s Chairs, the RERI s student researchers, and the Lee County Economic Development Council. The Regional Economic Research Institute studies, analyzes are reports on the regional economy encompassing Collier, Lee, Charlotte, Hendry, and Glades counties. Established in 2005, it serves as a public service and economic development unit of the Lutgert College of Business Dean s Office and strives to connect Southwest Florida to the resources of Florida Gulf Coast University. The Institute s Business Climate Survey group specializes in sampling design and analysis, including program evaluation, policy research, and needs assessment. The Business Climate Survey group involves FGCU students in every stage of survey development, allowing them to develop professional skills and networks that add value to their degrees and, by extension, to their future employers. Regional Economic Research Institute Lutgert College of Business Florida Gulf Coast University FGCU Blvd, S. Fort Myers, FL (239) Photo Credits: Shutterstock, Lee County Economic Development Office

11 TABLE OF CONTENTS INTRODUCTION... 2 EXECUTIE SUMMARY... 3 I. RECURRING QUESTIONS... 4 II. THE EXECUTIE BUSINESS CLIMATE INDEX... 6 III. SPECIAL TOPICS... 7 I. COMMENTS, SUGGESTIONS, AND RECOMMENDATIONS COMPANY CHARACTERISTICS APPENDIX A. HISTORICAL TRENDS OF RECURRING QUESTIONS APPENDIX B. FULL COMMENTS, SUGGESTIONS, AND RECOMMENDATIONS Regional Economic Research Institute 1

12 INTRODUCTION The Lee County Business Climate Survey Report, published in partnership between the Horizon Council and Florida Gulf Coast University, provides primary research to the business community, elected officials, and other concerned citizens in an effort to gauge the state of Lee County s economy over time as well as impressions and concerns about it in the future. Since the beginning of this partnership, the BCS has been comprised of three areas of focus. The first area encompassed in the first seven questions of the survey focuses on Lee County business executives impressions of economic conditions and trends with respect to hiring and investment. The second area has been the calculation of an Executive Business Climate Index. This EBCI provides a summary number which will allow one to quickly gauge whether the business climate in Lee County is improving or declining. Finally, the third area is comprised of various questions that change from survey to survey. In the past, these Special Topics have focused on areas such as business executives concerns about interest rates and access to capital, firms demand for critical occupations and their ability to find workers within those occupations, the cost of doing business in Lee County, and even concern for employee wellness and wellness programs. The BCS also allows respondents to voice concerns, kudos, and criticisms of Lee County s economic environment. Every effort is made to include these comments in each survey. The Horizon Council FGCU Business Climate Survey is administered, written, and published by the staff and students working with the Regional Economic Research Institute in the Lutgert College of Business. We very much welcome your comments and suggestions regarding the report, including suggestions for Special Topics questions for future editions. This survey would not have been possible without the many busy business owners and executives who took the time to respond to it. I also thank John Boland, Glen Salyer, and their colleagues at the Lee County Economic Development Office; Robert Beatty, Dean of Lutgert College of Business at FGCU; Russell Schropp, Chair of the Horizon Council s Business Issues Taskforce; and Michael Quaintance of Keiser University. CareerSource Southwest Florida s James Wall and Peg Elmore continued to provide valuable input and advice. Dr. Christopher Westley Director, Regional Economic Research Institute Lutgert College of Business Florida Gulf Coast University Fort Myers, Florida Executive Business Climate Survey Report, 2016 Q4

13 EXECUTIE SUMMARY The Executive Business Climate Survey provides a view of the local economy that is based on responses from senior executives from a range of industries across the county. An invitation to complete the internet survey was sent to 560 executives and business owners in Lee County. Ninety-two executives completed the survey from October 25, 2016, through November 8, Four reminders were sent during the survey period. This survey provides a key economic indicator for Lee County, the Executive Business Climate Index. This index value is computed each quarter and released to the public as a way to provide an established economic indicator on the state of the local economy. The index is computed using the two questions concerning the current and future economic conditions and a third question concerning the expected industry economic conditions. The index is an average of the responses, with substantially better equal to 100, moderately better equal to 75, same equal to 50, moderately worse equal to 25 and substantially worse equal to zero. The index value can range from 0 to 100. The results from the fourth quarter survey reflect a two-point increase from the third quarter 2016 measure, with the index rising from 61 to 63. The increase marks the first time the measure has improved since the fourth quarter The current survey s Special Topics section focuses on prospects for business expansion in Lee County. Other findings of the Business Climate Survey for the fourth quarter of 2016 include: 60 percent of executives stated that the current economic conditions have improved over last year, while 33 percent stated that they were the same; 51 percent of the executives expect the economy to improve over the next year, and 41 percent stated that the economy would stay the same; 47 percent of the executives stated that the current economic conditions for their industry have improved over last year, while 40 percent stated that economic conditions remained approximately the same. 51 percent of executives expect economic conditions for their industry to improve over the next year; 40 percent of executives had increased employment over the last year, while 8 percent had reduced employment; 39 percent of executives expect to increase employment at their companies during the next year, while 58 percent of executives plan to remain at the same level; 46 percent of companies expect to increase investment next year while 4 percent expect to reduce investment levels; 35 percent of executives believe that the next three months are a good time for their business to expand, while 39 percent believe that it is not a good time to expand. 55 percent of executives stated that sales prospects were the most important reason for their expansion outlook, and 39 percent indicated that economic conditions were the most important reason. 44 percent of executives believe that net earnings during their last quarter year were higher than the same quarter during 2015, while 20 percent said net earnings were lower. 78 percent of executives said sales volumes were the most important reason for their firms earning performance during the last calendar quarter. 52 percent of executives stated their dollar sales volume during the last calendar quarter was higher than the previous quarter, while 21 percent stated their dollar sales volume was lower. 44 percent of executives expect the real volume of goods and services sold will be higher during the next three months, while 12 percent believe the amount will be lower. 30 percent of executives said selling prices were higher when compared to three months ago. 19 percent of executives indicated they had enough qualified applicants for job openings, while 48 percent said there were few qualified applicants. 41 percent of executives stated they had job openings they were unable to fill. 23 percent of executives said the single most important problem for their firm was uncertainty about the future, while 22 percent indicated regulation and compliance as the most important reason. Regional Economic Research Institute 3

14 Percent of Responses Percent of Responses Percent of Responses I. RECURRING QUESTIONS Each quarter, the Horizon Council FGCU Business Climate Survey polls Lee County s business leaders about the state of the economy in Lee County. These seven questions are designed to provide a snapshot of short-term trends and perceptions regarding the state of the local economy, employment, and capital investment. Asking the same recurring questions allows for a side-by-side comparison of the economy during each quarter. The results from these questions for the fourth quarter of 2016 can be found in Figures 1 through 7 below. 80% 70% 60% 50% 40% Figure 2: Future Economic Condition What are your expectations for the Lee County one year ahead? 48% 70% 66% 41% 2016 Q Q Q4 Figure 1 reports that 60 percent of surveyed executives indicated that economic conditions in Lee County were moderately or substantially better compared to a year ago. This was an increase from the third quarter 2016 measure of 53 percent, but marks a decline from the fourth quarter 2015 measure of 77 percent. Despite the gain from the previous quarter, these results indicate that local business owners and executives are generally less pleased with the direction of the local economy over the past year. 80% 70% 60% 50% 40% 30% 20% 10% 0% Figure 1: Current Economic Condition How are the Current Lee County economic conditions compared to one year ago? 11% 7% 7% Substantially better 53% 69% 66% Moderately better 33% Figure 2 tracks business leaders perceptions about economic conditions going into the next year. The survey found that 51 percent of executives indicated they expect economic conditions in Lee County to be moderately or substantially better in the next year. This is a slight decrease from the 2016 third quarter reported figure of 52 percent and a decline from the fourth quarter 2015 report, which found that 80 percent of surveyed executives expected conditions in Lee County to be better in the next year. 22% Same 15% 8% 9% 1% 0% 0% 0% Moderately worse 2016 Q Q Q4 Substantially worse 30% 20% 10% 0% 3% 10% 10% Substantially better Moderately better 21% 19% Same Figure 3 reports on executives perceptions about their particular industry and is more narrowly focused. The survey found that 47 percent of surveyed executives believed current conditions in their industry were better compared to a year ago. This marks an increase from the 45 percent recorded in the third quarter 2016, but a decrease from the 69 percent reported a year ago on the fourth quarter 2015 report. 80% 70% 60% 50% 40% 30% 20% 10% 0% 4% Figure 3: Current Industry Condition 18% 13% 43% 53% 51% 40% 26% 25% 8% 4% 0% 0% 0% 0% Moderately worse Substantially worse What are the current conditions in your industry in Lee County compared to one year ago? Substantially better Moderately better Same Figure 4 reports that 51 percent of surveyed executives expect conditions in their industry to be moderately or substantially better in the next year. This is a an increase from the 2016 third quarter report, which reported that 45 percent of surveyed executives expect conditions in their industry to be better in the next year, but a decrease from the 2015 fourth quarter report, 10% 4% 9% Moderately worse 2016 Q Q Q4 3% 0% 0% Substantially worse 4 Executive Business Climate Survey Report, 2016 Q4

15 Percent of Responses Percent of Responses Percent of Responses Percent of Responses which reported that 66 percent of surveyed executives expect conditions in their industry to be better in the next year. 80% 70% 60% 50% 40% 30% 20% 10% 0% 3% Figure 4: Future Industry Condition What are your expectations for your own industry in Lee County one year ahead? 11% 9% Substantially better 48% 55% 62% Moderately better 41% 28% 25% Same 7% 5% 3% Moderately worse Figures 5 and 6 focus on employment. Figure 5 reports that 40 percent of executives have moderately or substantially increased employment over the last year. This is an increase from the 2016 third quarter report, which reported that 37 percent of surveyed executives have increased employment over the past year, but a decline from the 2015 fourth quarter report, which reported that 57 percent of surveyed executives have increased employment over the past year. 80% 70% 60% 50% 40% 30% 20% 10% 0% 2% 10% Substantially increased employment Figure 5: Current Hiring Trend 44% 47% 41% 38% Moderately increased employment 52% 2016 Q Q Q4 Figure 6 reports that 40 percent of surveyed executives expect to moderately or substantially increase employment over the next year. This is an increase from the 2016 third quarter report, which reported that 32 percent of surveyed executives expect to increase employment over the next year, and a decline from the 2015 fourth quarter report, which reported 38% Little or no change In employment 10% 7% 4% Moderately reduced employment 1% 0% 1% Substantially worse What has been your hiring trend over the last year? 2016 Q Q Q4 3% 1% 1% 1% Substantially Reduced Employment that 57 percent of surveyed executives expect to increase employment over the next year. 80% 70% 60% 50% 40% 30% 20% 10% 0% 8% 4% 2% Figure 6: Future Hiring Trend What hiring trends do you see for your business over the next year? Substantially increase employment 37% 47% 55% Moderately increase employment 58% 41% 39% Same or flat employment Finally, Figure 7 focuses on capital investment. It reports that 46 percent of surveyed executives expect to moderately or substantially increase investment over the next year. This was a decrease from the 2016 third quarter report, which reported that 49 percent of surveyed executives expect to increase investment over the next year, and a decline from the fourth quarter report from 2015, which reported that 66 percent of surveyed executives expect to increase investment over the next year. 80% 70% 60% 50% 40% 30% 20% 10% 0% 3% Figure 7: Future Investment Trend 16% 10% 43% 51% 50% 49% 35% 30% 2% 3% 1% 1% 1% 0% Moderately reduce employment 2016 Q Q Q4 Substantially Reduce Employment Do you plan to increase investment in your business during the next year? Substantially increase investment Moderately increase investment Keep investment the same or flat 3% 2% 1% 1% 1% 1% Moderately reduce investment 2016 Q Q Q4 Substantially Reduce investment Results from previous quarters surveys going back to 2012 can be found on FGCU s Regional Economic Research Institute s web site, at fgcu.edu/cob/reri. For charts depicting historical trends for recurring questions, see Appendix A below. Regional Economic Research Institute 5

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17 III. SPECIAL TOPICS Each Executive Business Climate Survey contains a set of questions not asked on a recurring basis. These special topic questions highlight on areas of importance to the economic development of our region with the intention of accessing the business community s input and feedback to development officials, industry agents, and government officials. The present survey focused on prospects for business expansion in Lee County. Results from these questions are reported in figures 8 through 17. Figure 8: Business Expansion Do you think the next three months will be a good time for your business to expand? Finance and interest rates, 3% Figure 9: Reason for Business Expansion What is the most important reason for your expansion outlook? Please choose one: Political climate, 3% Economic conditions, 39% Sales prospects, 55% Unsure, 26% No, 39% Yes, 35% Figure 9 focuses on the most important reason for business expansion. Fifty-five percent of all business executives said sales prospects were the most important reason for expansion, 39 percent reported economic conditions as the main reason for expansion, three percent said finance and interest rates, and three percent said the political climate. Figure 10: Net Earnings over Past Year Figure 8 considers firms expansion plans within the next three months. Thirty-five percent of business executives reported that the next three months would be a good time for their business to expand, while 39 percent believed it would not be a good time. Twenty-six percent of business executives reported that they were unsure if the next three months would be a good time to expand. Were your net earnings or income (after taxes) from your business during the last calendar quarter higher, lower, or about the same as they were for the same quarter of 2015? About the Same, 36% Higher, 44% Lower, 20% Figure 10 focuses on the net earnings over the past year for businesses. Forty-four percent of all business executives reported that their net earnings were higher during the last calendar quarter when compared to the same quarter from Furthermore, 20 percent reported that their net earnings were lower from the previous year, and 36 percent reported that net earnings were about the same from the previous year. Regional Economic Research Institute 7

18 Figure 11: Reason for Earning Performance What do you think is the most important reason for your firm s earning performance during the last calendar quarter? Figure 13: Real olume of Goods Overall, what do you expect to happen to real volume (number of units) of goods and/or services that you will sell during the next three months? Changes in market prices, 12% Other, 10% Sales volume, 78% About the Same, 44% Lower, 12% Higher, 44% Figure 11 focuses on the reasons for earning performances over the past calendar quarter. Seventy-eight percent of business executives reported that sales volume was the most important reason for the firm s earning performance over the last calendar quarter, 12 percent reported changes in market prices as the main reason, and 10 percent reported some other as the most important reason. No executives indicated changes in costs as the main reason. Figure 12: Dollar Sales olumes During the last calendar quarter, was your dollar sales volume higher, lower, or about the same as it was for the quarter before? Figure 13 focuses on the real volume of goods that a firm will sell in the next three months. Forty-four percent of all business owners expect that the real volume of goods sold will be higher during the next three months, while 12 percent believe the real volume of goods sold will be lower. Forty-four percent believe the real volume of goods sold will be about the same over the next three months. Figure 14: Average Selling Prices How are your average selling prices compared to three months ago? Higher, 30% About the Same, 27% Lower, 21% Higher, 52% About the Same, 60% Lower, 10% Figures 12 focuses on the change in dollar sales volume for the last calendar quarter. Fifty-two percent of all business executives indicated that their dollar sales volumes were higher when compared to the previous quarter and 21 percent reported that their dollar sales volumes were lower. Twentyseven percent said that their dollar sales volumes were about the same from the previous quarter. Figure 14 focuses on average selling prices. Thirty percent of all business executives believe that average selling prices will be higher than three months ago, while 10 percent believe average selling prices will be lower. Sixty percent of all business executives believe that their average selling prices will be about the same. 8 Executive Business Climate Survey Report, 2016 Q4

19 Figure 15: Qualified Applicants If you have filled or attempted to fill any job openings in the past three months, how many qualified applicants were there for the position(s)? Figure 16: Job Openings Does your firm currently have job openings that it is unable to fill? Enough, 19% Have not had any job openings, 27% Few, 48% No, 59% Yes, 41% None, 5% Figure 15 focuses on the number of qualified applicants available for job openings. Nineteen percent of all business executives reported that they get enough qualified candidates for job openings, 48 percent said that they get only a few qualified candidates, and five percent said they do not get any qualified candidates. No executives indicated that they had more qualified candidates than needed. Twenty-seven percent of business executives said they did not have any job openings over the past three months. Figure 16 focuses on whether a firm has job openings it is unable to fill. Forty-one percent of all business executives reported that they do have a job opening they are unable to fill, while 59 percent said they do not have a job opening they are unable to fill. Figure 17: Important Problems What is the single most important problem your firm faces today? Uncertainty about the future Regulation and Compliance Quality of labor Poor sales Other Competition from larger firms Cost of labor Finance and interest rates Cost/availability of Insurance Taxes Inflation 6% 6% 6% 6% 4% 2% 0% 11% 14% 23% 22% 0% 10% 20% 30% Figure 17 focuses on the single most important problem firms face today. Twenty-three percent of all business executives said uncertainty about the future as the most important problem their firm faces, 22 percent said regulation and compliance, 14 percent reported quality of labor, and 11 percent said poor sales. Regional Economic Research Institute 9

20 I. COMMENTS, SUGGESTIONS, AND RECOMMENDATIONS The comments indicated that executives were concerned with the national and international economy as it relates to local activity, as well as some general comments of the workforce. There are concerns and comments about: Public Infrastructure Government Regulation Public Education Property alues Labor Market Technological Advances Executive responses to this question are found in Appendix B. 10 Executive Business Climate Survey Report, 2016 Q4

21 . COMPANY CHARACTERISTICS Each executive provided information about his or her firm, including: Business Type; Number of Employees; Company Location; and Geographic Client Base. The following figures provide an overview of general characteristics of the responding companies. Construction Finance & Insurance Professional, Scientific, & Technical Service Manufacturing Real Estate Sales Information Arts, Entertainment, and Recreation Computer Software, Design, and Technical Accommodation & Food Services - Restaurants Health Care & Social Assistance Transportation and Warehousing Educational Services Real Estate Rental and Leasing Real Estate Development Accommodation & Food Services - Resorts Utilities Agriculture, Forestry, Fishing, and Hunting Accommodation & Food Services - Attractions Retail Trade Aerospace Business Types Employee Size of Firms Responding to Survey employees, 9% 250 or more employees, 15% employees, 12% employees, 14% 1-9 employees, 28% employees, 22% Geographic Locations of Business Respondents Geographic Client Base of Lee County Firms South Fort Myers City of Fort Myers Cape Coral Other Bonita Springs Estero East Fort Myers North Fort Myers Sanibel/Captiva Town of Fort Myers Beach 23% 21% 21% 18% 16% 14% 12% 11% 37% 44% Lee County Collier County Charlotte County Hendry County Florida Glades County U.S. Markets Southeast US region International Markets 19% 17% 38% 35% 30% 28% 57% 65% 71% Lehigh Acres 9% Other 5% 0% 10% 20% 30% 40% 50% 0% 20% 40% 60% 80% Regional Economic Research Institute 11

22 APPENDIX A. HISTORICAL TRENDS OF RECURRING QUESTIONS Historical trends of the seven recurring questions asked in each Executive Business Climate Survey can be found in this section. 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% How are the current Lee County economic conditions compared to a year ago? 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Substantially better Moderately better Same Moderately worse Substantially worse 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Substantially better Moderately better Same Moderately worse Substantially worse 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2012 Q Q Q3 What are the current conditions in your industry in Lee County compared to one year ago? What has been your hiring trend over the last year? 2012 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q3 Q4 Substaintially increased employment Moderately increased employment Little or no change in employment Moderately reduced employment Substaintially reduced employment 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2012 Q Q Q Q2 What are your expectations for the Lee County economy one year ahead? 2012 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q3 Q4 Substantially better Moderately better Same Moderately worse Substantially worse 2012 Q2 What are your expectations for your own industry in Lee County one year ahead? 2012 Q Q Q Q Q Q Q Q2 Substantially better Moderately better Same Moderately worse Substantially worse What hiring trends do you see for your business over the next year? 2012 Q Q Q Q Q Q Q Q Q2 Substaintially increase employment Moderately increase employment Same or flat employment Moderately reduce employment Substaintially reduce employment 2014 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q3 Q Q3 Q4 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2012 Q1 Do you plan to increase investment in your business during the next year? 2012 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q3 Q4 Substaintially increase investment Moderately increase investment Keep investment the same or flat Moderately reduce investment Substaintially reduce investment 12 Executive Business Climate Survey Report, 2016 Q4

23 APPENDIX B. FULL COMMENTS, SUGGESTIONS, AND RECOMMENDATIONS This list includes specific responses from the executives for the following question: Please indicate any other comments, suggestions, or recommendations you would like to make regarding the regional economy or your business. 1. Business taxes do not support business growth -- between real estate taxes and tangible tax we are being penalized for buying new equipment and trying to grow our business to hire more employees. 2. I continue to be very concerned with Lee County's lack of attention to infrastructure development. Recent news has indicated that our population could double in the next 25 years and the current state of Lee County infrastructure can barely handle the populace that we have now. To continue to hold impact fees down and then state that there is no money for infrastructure, is a contradiction in logic. It s simply a matter of time that all the development and growth that is supposedly resulting from the lowered impact fees strangles the roads that the reduced impact fees were unable to expand. When that happens, no one will want to live here and then progress and growth is halted and no amount of reduced impact fees will be able to revive it. 3. Removal of political considerations from the permitting processes. 4. There seems to need to be more of a focus on local education mostly in terms of public schools in the K-12 segment as we are hearing more frequently that our school system is a liability in terms of being able to attract educated professionals to our area. 5. Client base is shrinking. Market opportunities are not as robust. 6. Our experience with the local economy in 2015 and the first half of 2016 was fast paced and we hired 2 new professional staff members. Based on our historical data (relative to our company) we are seeing a slowdown going into the second half of It is possible that it is a general cool down mixed with the elections. 7. While we see the next quarter as flat or lower than last year, we do expect stronger revenues in subsequent quarters throughout In my industry, I believe rates are a big factor for people buying property. The inventory is limited and the user/investor buyers are getting slim. The CAP rates are relatively low due to the pricing which means the income in such assets are not increasing. The office market is stagnant. Buildings trading at 4-7% is a sign of aggressive pricing, but very little increase in lease prices/net income. The REO side of the business is slowing greatly and the values have gone up as the bank seems to hold onto the asset and not very flexible in the pricing. On the other side it seems the buyers are still looking for 2010 pricing. Buy the value if you are going to buy at all. 9. Global fuel prices remaining low have pushed down the market prices for all commodities, including but not limited to grains and metals. This disincentives further investment, and on the short term encourages the stockpiling of non-perishable commodities until higher prices return. When one's business is dependent on transporting such commodities such as recycled metal, those global fuel pressures become felt in the form of reduced units being moved. It tends to drive a feast or famine cycle for the business segment and ultimately leads to higher prices to make up for reduced unit sales. The lesson here is that global economic health is vital to our regional economy. 10. Technical advances and the continued migration of my "clients" to the internet is killing my business. 11. We see wage inflation. Our good employees are being hired away at higher wages 12. For county public works projects, if there are locally owned engineering firms qualified to do the projects give them preference during the selection process. Larger out of town firms place a satellite office in Lee and Collier Counties, with the work being sent out of town and income not benefiting our local economy!! 13. Lee county infrastructure is becoming problematic. While other counties such as Collier are pro-active in building roadways, Lee County is reactive. And further, Lee County government continues to say there are no monies for the infrastructure improvements, yet impact fees remain at recession levels. Ultimately people will quit building buildings and moving to Lee County if they cannot travel about the area. Regardless if the impact fees are low. 14. Remember the value and importance of strong domestic manufacturing. Regional Economic Research Institute 13

24 15. Poor Sales, increased costs of doing business, regulation and compliance as well as increased competition result in an uncertain future as it relates to growth and reinvestment. It has been a tougher year than last year for sure. The forecast doesn't bode well for our industry getting better. The FLSA changes to wage and hour are chief among the compliance, cost and burdensome oversight the new law will require of us. 16. Quality of skill labor continues to be a challenge. 17. Lee County government, specifically code and building enforcement is still very difficult to work with and hinders my business from making quality investments and improvements in my facility. 14 Executive Business Climate Survey Report, 2016 Q4

25 SECTION 1 PROPERTY INFORMATION ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA ACRES FORT MYERS, FL Property Overview Physical Description Property Name: Type of Ownership: APN: Zoning: Pine Quarry Fee Simple & & IPD and AG-2 All SN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 25

26

27

28 FOR SALE LAND ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA State Road 82 Fort Myers, FL LOCATION INFORMATION All SN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

29 SECTION 2 LOCATION INFORMATION ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA ACRES FORT MYERS, FL Location Maps All SN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 29

30 Pine Quarry Area Mining Operations 1 Old Corkscrew Plantation LLC 2 Troyer Bros 3 Florida Rock Industries 4 Cemex 5 Youngquist Brothers 6 Alico West LLC 7 FFD Land Company, Inc. 8 Bonita Grande Aggregates 9 Resource Conservation Holdings 10 Alico Land Development 11 Westwind Corkscrew Mining 12 Earth Works of Naples, Inc. 13 Lake Trafford Independent Baptist Church, Inc.

31 FOR SALE LAND ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA State Road 82 Fort Myers, FL ADDITIONAL INFORMATION All SN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

32 Lee County Florida Property Appraiser Information 3 Parcels totaling Acres

33 Property Data STRAP: Folio ID: PINE QUARRY HOLDINGS LLC 4675 MACARTHUR CT STE 1550 NEWPORT BEACH CA SR 82 FORT MYERS FL ALL SEC 27 S OF STATE RD #82 MINING, PETROLEUM, GAS LANDS / 92 Owner Of Record Site Address Property Description Classification / DOR Code [ Tax Map iewer ] [ Pictometry Aerial iewer ] Current Working alues Image of Structure Just 509,597 As Of 06/30/2016 Attributes Land Units Of Measure AC Units Frontage 0 Depth 0 Total Number of Buildings 0 Total Bedrooms / Bathrooms 0 Total Living Area 0 1st Year Building on Tax Roll 0 Historic District No Photo Date October of 2009 Property alue History Tax Year Just Market Assessed Capped Assessed Taxable ,000 9,830 9,830 9, , , , , ,000 9,890 9,890 9, ,000 10,010 10,010 10, ,000 7,810 7,810 7, ,000 3,640 3,640 3, ,000 6,850 6,850 6, ,000 5,960 5,960 5, ,000 5,420 5,420 5, ,000 5,840 5,840 5, ,160 7,390 7,390 7, ,160 8,820 8,820 8, ,320 9,540 9,540 9, ,280 10,790 10,790 10, ,561,530 11,210 11,210 11, ,799,390 1,799,390 1,799,390 1,799, ,799,390 1,799,390 1,799,390 1,799, ,559,430 1,559,430 1,559,430 1,559, , , , , , , , , , , , , , , , , , , , , , , , , , , , ,597 The Just value is the total parcel assessment (less any considerations for the cost of sale). This is the closest value to Fair Market alue we produce and is dated as of January 1st of the tax year in question (F.A.C. 12D-1.002).

34 The Market Assessed value is the total parcel assessment (less any considerations for the cost of sale) based upon the assessment standard. Most parcels are assessed based either upon the Highest and Best Use standard or the Present Use standard (F.S ). For Agriculturally Classified parcels (or parts thereof), only agricultural uses are considered in the assessment (F.S (6) (a)). The difference between the Highest and Best Use/Present Use and the Agricultural Use is often referred to as the Agricultural Exemption. (i.e. Market Assessed = Just - Agricultural Exemption) The Capped Assessed value is the Market Assessment after any Save Our Homes or 10% Assessment Limitation cap is applied. This assessment cap is applied to all properties and limits year-to-year assessment increases to either the Consumer Price Index or 3%, whichever is lower for Homestead properties OR 10% for non- Homestead properties. The Taxable value is the Capped Assessment after exemptions (Homestead, etc.) are applied to it. This is the value that most taxing authorities use to calculate a parcel's taxes. (i.e. Taxable = Capped Assessed - Exemptions) Exemptions No existing exemptions found for this property. alues (2016 Tax Roll) Property alues Attributes Just 509,597 Land Units Of Measure AC Assessed 509,597 Portability Applied 0 Cap Assessed 509,597 Taxable 509,597 Cap Difference 0 Units Frontage 0 Depth 0 Total Number of Buildings 0 Total Bedrooms / Bathrooms 0 Total Living Area 0 1st Year Building on Tax Roll 0 Historic District No LEE CO GENERAL REENUE / 044 LEE CO ALL HAZARDS PROTECTION DIST / 101 LEE CO LIBRARY DIST / 052 LEE CO UNINCORPORATED MSTU / 020 LEE CO HYACINTH CONTROL DIST / 051 LEE CO MOSQUITO CONTROL DIST / 053 WEST COAST INLAND NAIGATION DIST / 098 PUBLIC SCHOOL - BY LOCAL BOARD / 012 PUBLIC SCHOOL - BY STATE LAW / 013 LEHIGH ACRES FIRE / 049 Name / Code Category Mailing Address LEHIGH ACRES FIRE CONTROL & RESCUE DIST / 341 Taxing Authorities County Dependent District Dependent District Dependent District Independent District Independent District Independent District Public Schools Public Schools oter Approved LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL RUSSELL BAKER HOMESTEAD RD LEHIGH ACRES FL RUSSELL BAKER HOMESTEAD RD LEHIGH ACRES FL CHARLES W LISTOWSKI EXECUTIE DIRECTOR 200 MIAMI AE E ENICE FL AMI DESAMOURS BUDGET DEPARTMENT 2855 COLONIAL BLD FORT MYERS FL AMI DESAMOURS BUDGET DEPARTMENT 2855 COLONIAL BLD FORT MYERS FL JOHN R WAYNE, FIRE CHIEF MILLAGE CAP ATTN: SUSAN PLATAS 636 THOMAS SHERWIN AE S LEHIGH ACRES, FL 33974

35 SFWMD-DISTRICT-WIDE / 110 Water District MICHELLE QUIGLEY 3301 GUN CLUB RD WEST PALM BEACH, FL SFWMD-EERGLADES CONSTRUCTION PROJECT / 084 SFWMD-OKEECHOBEE BASIN / 308 Water District Water District MICHELLE QUIGLEY 3301 GUN CLUB RD WEST PALM BEACH, FL MICHELLE QUIGLEY 3301 GUN CLUB RD WEST PALM BEACH FL Sales / Transactions Sale Price Date OR Number Type Description acant/improved 6,697, /17/ /28/ ,500, /14/ ,345, /14/ ,859, /14/ ,500, /08/ / /27/ / /01/ / , /01/ / Sales disqualified as a result of examination of the deed Transfer to or from financial institutions; Deed stating "In Lieu of Foreclosure" (including private lenders) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales disqualified as a result of examination of the deed Corrective deed, quit claim deed, or tax deed; Deed bearing Florida Documentary Stamp at the minimum rate prescribed under Chapter 201, F.S.; Transfer of ownership where no doc stamps were paid. There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales disqualified as a result of examination of the deed Disqualified (Multiple STRAP # - 01,03,04,07) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales disqualified as a result of examination of the deed Disqualified (Multiple STRAP # - 01,03,04,07) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales qualified but excluded from sales ratio analysis Qualified (Multiple STRAP # / 06-09I) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales qualified but excluded from sales ratio analysis Qualified (Multiple STRAP # / 06-09I) Sales disqualified as a result of examination of the deed Disqualified (Doc Stamp.70 / SP less th $100 / Other Disq) Sales disqualified as a result of examination of the deed Disqualified (Multiple STRAP # - 01,03,04,07) Sales disqualified as a result of examination of the deed Disqualified (Doc Stamp.70 / SP less th $100 / Other Disq) Location Information Township Range Section Block Lot 45 27E 27 Municipality Latitude Longitude Lee County Unincorporated Links iew Parcel on Google Maps iew Parcel on Geoiew iew Parcel on Geoiew Solid Waste (Garbage) Roll Data Solid Waste District Roll Type Category Unit / Area Tax Amount Service Area

36 Collection Days Garbage Recycling Horticulture Wednesday Tuesday Tuesday Storm Surge Zone Flood and Storm Information Flood Insurance [ FIRM Look-up ] Evacuation Zone Community Panel ersion Date E E F 8/28/2008 Appraisal Details (2016 Tax Roll) Land Land Tracts Use Code Use Code Description Depth Frontage Number of Units Unit of Measure 9200 Mining Acres 9925 Acreage, Buffer - Conservation, Water Retention Acres 9520 Lake Acres

37 Property Data STRAP: Folio ID: PINE QUARRY HOLDINGS LLC 4675 MACARTHUR CT STE 1550 NEWPORT BEACH CA ACCESS UNDETERMINED FORT MYERS FL ALL SEC 34 LYING S + W OF SR82 LES PARLS MINING, PETROLEUM, GAS LANDS / 92 Owner Of Record Site Address Property Description Classification / DOR Code [ Tax Map iewer ] [ Pictometry Aerial iewer ] Current Working alues Image of Structure Just 3,075,830 As Of 06/30/2016 Attributes Land Units Of Measure AC Units Frontage 0 Depth 0 Total Number of Buildings 0 Total Bedrooms / Bathrooms 0 Total Living Area 0 1st Year Building on Tax Roll 0 Historic District No Photo Date February of 2009 Property alue History Tax Year Just Market Assessed Capped Assessed Taxable , , , , ,180 30,270 30,270 30, ,180 30,450 30,450 30, ,180 23,790 23,790 23, ,180 11,970 11,970 11, ,170 21,450 21,450 21, ,180 18,380 18,380 18, ,170 16,700 16,700 16, ,180 18,210 18,210 18, ,701,710 22,810 22,810 22, ,701,710 27,300 27,300 27, ,850,140 39,220 39,220 39, ,299,290 44,570 44,570 44, ,541,360 46,250 46,250 46, ,832,020 9,179,270 9,179,270 9,179, ,126,780 15,337,520 15,337,520 15,337, ,760,720 9,032,330 9,032,330 9,032, ,011,530 2,877,745 2,877,745 2,877, ,075,830 2,942,045 2,942,045 2,942, ,075,830 2,942,045 2,942,045 2,942, ,075,830 2,942,045 2,942,045 2,942, ,075,830 2,942,045 2,942,045 2,942, ,075,830 2,942,045 2,942,045 2,942, ,075,830 2,942,045 2,942,045 2,942,045 The Just value is the total parcel assessment (less any considerations for the cost of sale). This is the closest value to Fair Market alue we produce and is dated as of January 1st of the tax year in question (F.A.C. 12D-1.002). The Market Assessed value is the total parcel assessment (less any considerations for the cost of sale) based upon the assessment standard. Most parcels are assessed based either upon the Highest and Best Use standard or the Present Use standard (F.S ). For Agriculturally Classified parcels (or parts thereof), only

38 agricultural uses are considered in the assessment (F.S (6) (a)). The difference between the Highest and Best Use/Present Use and the Agricultural Use is often referred to as the Agricultural Exemption. (i.e. Market Assessed = Just - Agricultural Exemption) The Capped Assessed value is the Market Assessment after any Save Our Homes or 10% Assessment Limitation cap is applied. This assessment cap is applied to all properties and limits year-to-year assessment increases to either the Consumer Price Index or 3%, whichever is lower for Homestead properties OR 10% for non- Homestead properties. The Taxable value is the Capped Assessment after exemptions (Homestead, etc.) are applied to it. This is the value that most taxing authorities use to calculate a parcel's taxes. (i.e. Taxable = Capped Assessed - Exemptions) Exemptions No existing exemptions found for this property. alues (2016 Tax Roll) Property alues Attributes Just 3,075,830 Land Units Of Measure AC Assessed 2,942,045 Portability Applied 0 Cap Assessed 2,942,045 Taxable 2,942,045 Cap Difference 0 Units Frontage 0 Depth 0 Total Number of Buildings 0 Total Bedrooms / Bathrooms 0 Total Living Area 0 1st Year Building on Tax Roll 0 Historic District No LEE CO GENERAL REENUE / 044 LEE CO ALL HAZARDS PROTECTION DIST / 101 LEE CO LIBRARY DIST / 052 LEE CO UNINCORPORATED MSTU / 020 LEE CO HYACINTH CONTROL DIST / 051 LEE CO MOSQUITO CONTROL DIST / 053 WEST COAST INLAND NAIGATION DIST / 098 PUBLIC SCHOOL - BY LOCAL BOARD / 012 PUBLIC SCHOOL - BY STATE LAW / 013 LEHIGH ACRES FIRE / 049 Name / Code Category Mailing Address LEHIGH ACRES FIRE CONTROL & RESCUE DIST / 341 Taxing Authorities County Dependent District Dependent District Dependent District Independent District Independent District Independent District Public Schools Public Schools oter Approved LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL RUSSELL BAKER HOMESTEAD RD LEHIGH ACRES FL RUSSELL BAKER HOMESTEAD RD LEHIGH ACRES FL CHARLES W LISTOWSKI EXECUTIE DIRECTOR 200 MIAMI AE E ENICE FL AMI DESAMOURS BUDGET DEPARTMENT 2855 COLONIAL BLD FORT MYERS FL AMI DESAMOURS BUDGET DEPARTMENT 2855 COLONIAL BLD FORT MYERS FL JOHN R WAYNE, FIRE CHIEF MILLAGE CAP ATTN: SUSAN PLATAS 636 THOMAS SHERWIN AE S LEHIGH ACRES, FL SFWMD-DISTRICT-WIDE / 110 Water District

39 SFWMD-EERGLADES CONSTRUCTION PROJECT / 084 SFWMD-OKEECHOBEE BASIN / 308 Water District Water District MICHELLE QUIGLEY 3301 GUN CLUB RD WEST PALM BEACH, FL MICHELLE QUIGLEY 3301 GUN CLUB RD WEST PALM BEACH, FL MICHELLE QUIGLEY 3301 GUN CLUB RD WEST PALM BEACH FL Sales / Transactions Sale Price Date OR Number Type Description acant/improved 6,697, /17/ /28/ ,500, /14/ ,345, /14/ ,859, /14/ ,500, /08/ / /27/ / /01/ / , /01/ / Sales disqualified as a result of examination of the deed Transfer to or from financial institutions; Deed stating "In Lieu of Foreclosure" (including private lenders) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales disqualified as a result of examination of the deed Corrective deed, quit claim deed, or tax deed; Deed bearing Florida Documentary Stamp at the minimum rate prescribed under Chapter 201, F.S.; Transfer of ownership where no doc stamps were paid. There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales disqualified as a result of examination of the deed Disqualified (Multiple STRAP # - 01,03,04,07) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales disqualified as a result of examination of the deed Disqualified (Multiple STRAP # - 01,03,04,07) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales qualified but excluded from sales ratio analysis Qualified (Multiple STRAP # / 06-09I) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales qualified but excluded from sales ratio analysis Qualified (Multiple STRAP # / 06-09I) Sales disqualified as a result of examination of the deed Disqualified (Doc Stamp.70 / SP less th $100 / Other Disq) Sales disqualified as a result of examination of the deed Disqualified (Multiple STRAP # - 01,03,04,07) Sales disqualified as a result of examination of the deed Disqualified (Doc Stamp.70 / SP less th $100 / Other Disq) Parcel Numbering History Prior STRAP Prior Folio ID Renumber Reason Renumber Date Split (From another Parcel) Location Information Township Range Section Block Lot 45 27E 34 Municipality Latitude Longitude Lee County Unincorporated Links iew Parcel on Google Maps iew Parcel on Geoiew iew Parcel on Geoiew

40 Solid Waste (Garbage) Roll Data Solid Waste District Roll Type Category Unit / Area Tax Amount Service Area Collection Days Garbage Recycling Horticulture Wednesday Tuesday Tuesday Storm Surge Zone Flood and Storm Information Flood Insurance [ FIRM Look-up ] Evacuation Zone Community Panel ersion Date E E F 8/28/2008 Appraisal Details (2016 Tax Roll) Land Land Tracts Use Code Use Code Description Depth Frontage Number of Units Unit of Measure 9200 Mining Acres 9520 Lake Acres 9911 Market alue Conservation Acres 9926 Conservation Easement (Recorded Document Required) Acres

41 Property Data STRAP: Folio ID: PINE QUARRY HOLDINGS LLC 4675 MACARTHUR CT STE 1550 NEWPORT BEACH CA ACCESS UNDETERMINED FORT MYERS FL SE 1/4 OF SE 1/4 + S 250FT OF NE 1/4 OF SE 1/4 ACANT COMMERCIAL / 10 Owner Of Record Site Address Property Description Classification / DOR Code [ Tax Map iewer ] [ Pictometry Aerial iewer ] Current Working alues Image of Structure Just 477,900 As Of 06/30/2016 Attributes Land Units Of Measure AC Units Frontage 0 Depth 0 Total Number of Buildings 0 Total Bedrooms / Bathrooms 0 Total Living Area 0 1st Year Building on Tax Roll 0 Historic District No Property alue History Tax Year Just Market Assessed Capped Assessed Taxable , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,320 2,620 2,620 2, ,200 2,720 2,720 2, ,295,590 1,295,590 1,295,590 1,295, ,295,590 1,295,590 1,295,590 1,295, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,900 The Just value is the total parcel assessment (less any considerations for the cost of sale). This is the closest value to Fair Market alue we produce and is dated as of January 1st of the tax year in question (F.A.C. 12D-1.002). The Market Assessed value is the total parcel assessment (less any considerations for the cost of sale) based upon the assessment standard. Most parcels are assessed based either upon the Highest and Best Use standard or the Present Use standard (F.S ). For Agriculturally Classified parcels (or parts thereof), only

42 agricultural uses are considered in the assessment (F.S (6) (a)). The difference between the Highest and Best Use/Present Use and the Agricultural Use is often referred to as the Agricultural Exemption. (i.e. Market Assessed = Just - Agricultural Exemption) The Capped Assessed value is the Market Assessment after any Save Our Homes or 10% Assessment Limitation cap is applied. This assessment cap is applied to all properties and limits year-to-year assessment increases to either the Consumer Price Index or 3%, whichever is lower for Homestead properties OR 10% for non- Homestead properties. The Taxable value is the Capped Assessment after exemptions (Homestead, etc.) are applied to it. This is the value that most taxing authorities use to calculate a parcel's taxes. (i.e. Taxable = Capped Assessed - Exemptions) Exemptions No existing exemptions found for this property. alues (2016 Tax Roll) Property alues Attributes Just 477,900 Land Units Of Measure AC Assessed 477,900 Portability Applied 0 Cap Assessed 477,900 Taxable 477,900 Cap Difference 0 Units Frontage 0 Depth 0 Total Number of Buildings 0 Total Bedrooms / Bathrooms 0 Total Living Area 0 1st Year Building on Tax Roll 0 Historic District No LEE CO GENERAL REENUE / 044 LEE CO ALL HAZARDS PROTECTION DIST / 101 LEE CO LIBRARY DIST / 052 LEE CO UNINCORPORATED MSTU / 020 LEE CO HYACINTH CONTROL DIST / 051 LEE CO MOSQUITO CONTROL DIST / 053 WEST COAST INLAND NAIGATION DIST / 098 PUBLIC SCHOOL - BY LOCAL BOARD / 012 PUBLIC SCHOOL - BY STATE LAW / 013 LEHIGH ACRES FIRE / 049 Name / Code Category Mailing Address LEHIGH ACRES FIRE CONTROL & RESCUE DIST / 341 Taxing Authorities County Dependent District Dependent District Dependent District Independent District Independent District Independent District Public Schools Public Schools oter Approved LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL LEE COUNTY BUDGET SERICES PO BOX 398 FORT MYERS FL RUSSELL BAKER HOMESTEAD RD LEHIGH ACRES FL RUSSELL BAKER HOMESTEAD RD LEHIGH ACRES FL CHARLES W LISTOWSKI EXECUTIE DIRECTOR 200 MIAMI AE E ENICE FL AMI DESAMOURS BUDGET DEPARTMENT 2855 COLONIAL BLD FORT MYERS FL AMI DESAMOURS BUDGET DEPARTMENT 2855 COLONIAL BLD FORT MYERS FL JOHN R WAYNE, FIRE CHIEF MILLAGE CAP ATTN: SUSAN PLATAS 636 THOMAS SHERWIN AE S LEHIGH ACRES, FL SFWMD-DISTRICT-WIDE / 110 Water District

43 SFWMD-EERGLADES CONSTRUCTION PROJECT / 084 SFWMD-OKEECHOBEE BASIN / 308 Water District Water District MICHELLE QUIGLEY 3301 GUN CLUB RD WEST PALM BEACH, FL MICHELLE QUIGLEY 3301 GUN CLUB RD WEST PALM BEACH, FL MICHELLE QUIGLEY 3301 GUN CLUB RD WEST PALM BEACH FL Sales / Transactions Sale Price Date OR Number Type Description acant/improved 6,697, /17/ /28/ ,500, /14/ ,345, /14/ ,859, /14/ /14/ , /24/ / , /11/ / , /01/ / , /01/ / /01/ / Sales disqualified as a result of examination of the deed Transfer to or from financial institutions; Deed stating "In Lieu of Foreclosure" (including private lenders) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales disqualified as a result of examination of the deed Corrective deed, quit claim deed, or tax deed; Deed bearing Florida Documentary Stamp at the minimum rate prescribed under Chapter 201, F.S.; Transfer of ownership where no doc stamps were paid. There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales disqualified as a result of examination of the deed Disqualified (Multiple STRAP # - 01,03,04,07) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales disqualified as a result of examination of the deed Disqualified (Multiple STRAP # - 01,03,04,07) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales qualified but excluded from sales ratio analysis Qualified (Multiple STRAP # / 06-09I) There are 2 additional parcel(s) with this document (may have been split after the transaction date) Sales disqualified as a result of examination of the deed Disqualified (Doc Stamp.70 / SP less th $100 / Other Disq) Sales disqualified as a result of examination of the deed Disqualified (Doc Stamps Greater than.70/sp Gr. than $100) Sales disqualified as a result of examination of the deed Disqualified (Doc Stamps Greater than.70/sp Gr. than $100) Sales disqualified as a result of examination of the deed Disqualified (Doc Stamps Greater than.70/sp Gr. than $100) Sales disqualified as a result of examination of the deed Disqualified (Doc Stamp.70 / SP less th $100 / Other Disq) Sales disqualified as a result of examination of the deed Disqualified (Doc Stamp.70 / SP less th $100 / Other Disq) Location Information Township Range Section Block Lot 45 27E 34 Municipality Latitude Longitude Lee County Unincorporated Links iew Parcel on Google Maps iew Parcel on Geoiew iew Parcel on Geoiew

44 Solid Waste (Garbage) Roll Data Solid Waste District Roll Type Category Unit / Area Tax Amount Service Area Collection Days Garbage Recycling Horticulture Wednesday Tuesday Tuesday Storm Surge Zone Flood and Storm Information Flood Insurance [ FIRM Look-up ] Evacuation Zone Community Panel ersion Date E E F 8/28/2008 Appraisal Details (2016 Tax Roll) Land Land Tracts Use Code Use Code Description Depth Frontage Number of Units Unit of Measure 1000 Commercial, acant Acres

45 SECTION 3 ADDITIONAL INFORMATION ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA ACRES FORT MYERS, FL Additional Photos All SN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 45

46 Hoe in Operation

47 Excavated Sand in Drying Piles

48 Access Road and Lake

49 Maintained Berm Along State Road 82

50 SECTION 3 ADDITIONAL INFORMATION ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA ACRES FORT MYERS, FL Advisor Bio & Contact 1 Ashley Bloom Senior Advisor SN Florida Commercial Real Estate Advisors Ashley Barrett Bloom has been affiliated with SN since Bloom is licensed with SN Florida Commercial Real Estate Advisors, which covers the entire State of Florida, with partner Chris Malkin. Bloom services his clients providing national exposure with local expertise. Having a strong network of Branch Offices & Advisors, Bloom has been able to list and sell across Florida. Memberships & Affiliations 1997 State of Illinois - Certified Public Accountant (Inactive) 2012 LEED Green Associate FL #SL Phone: Fax: Cell: ashley.bloom@svn.com Address: 2044 Constitution Blvd. Sarasota, FL In June 2013, Bloom was named the founding Chairman of the Land Product Council for SN. Under his leadership, Bloom has helped institute collaborative marketing program, a SN land website, and land specific sales calls. Personally, Bloom is working on several large tracts of land with local, regional, and national developers. His client list includes several large equity funds and national banks that have entrusted Bloom with land opportunities across the State of Florida. Bloom has also been a member of the National Apartment Team with SN. Additionally, Bloom has focused on transactional work related to a myriad of asset classes including Flex Warehouse, Retail Centers, and Office. Prior to joining SN, Bloom specialized in land planning, commercial development, and conversions/ renovations. While developing these projects, Bloom has also taken the role of Managing Partner. During that time period, he has successfully acquired, entitled, and sold multiple tracts of Florida Land. Bloom has been developing real estate for 19 years in Florida, North Carolina, and Arkansas. Prior to developing real estate, Bloom worked for Coopers & Lybrand LLP in the Financial Advisory Services division where he obtained his Certified Public Accountant s (CPA) License. Relevant experience included Litigation Support Services, Acquisition Due Diligence, and Financial Modeling. Mr. Bloom has also served on an Advisory Board of a small community bank in South Florida. All SN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 50

51 SECTION 3 ADDITIONAL INFORMATION ACTIE SAND AND LIMESTONE MINE IN LEE COUNTY FLORIDA ACRES FORT MYERS, FL Advisor Bio & Contact 2 Ron Zeigler Senior Advisor SN Florida Commercial Real Estate Advisors Ron Zeigler serves as an Advisor for Sperry an Ness/Florida Commercial Real Estate Advisors specializing in the sale of income producing properties and land, mainly in the Florida commercial real estate market. Zeigler has 21 years of experience in the sale and financing of commercial real estate. Memberships & Affiliations FL #BK Phone: Fax: Cell: ron.zeigler@svn.com Address: 2044 Constitution Blvd. Sarasota, FL Prior to joining Sperry an Ness, Zeigler served as the managing principal for Gulf Coast Mortgage and Realty Advisors in Sarasota, Florida. Gulf Coast offered financing, legal and real estate services to private and corporate entities. Zeigler served as the supervising real estate broker, the principal mortgage broker and in house legal counsel. His duties included entity formation, obtaining financing and joint venture participation for commercial transactions, and the purchase or sale of commercial and residential properties. Previously, Zeigler served as vice president for City Financial Corporation in Sarasota, Florida, where he served as a supervising securities principal and registered investment advisor. Besides his duties in the securities markets, he headed an allied real estate and financing division that specialized in sale and financing of apartment complexes, healthcare properties and shopping centers. Zeigler is a former member of the Ohio Bar Association and has been licensed as a Florida attorney since He has been licensed as a Florida corporate real estate broker, individual broker or associate since Zeigler earned a doctorate degree in law from Cleveland Marshall College of Law/ Cleveland State University and a bachelor of arts in political science from Wittenberg University. All SN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 51