MORETOWN GAP FOREST A large forestland property, well-suited to buyers seeking to combine forest investment and/or sugarbush operation with a homestead on the same site, all within a short drive of three ski areas.

776± GIS Acres Moretown, Washington County, Price: $1,100,000

Fountains Land, an F&W company, 79 River Street, Suite 301, Montpelier, VT 05602 Contact: Michael Tragner ~ [email protected] ~ O: 802-223-8644 x22 ~ C: 802-233-9040 www.fountainsland.com PROPERTY OVERVIEW Moretown Gap Forest is a versatile property with potential for: 1) home development made easy by the land’s long road frontage, level terrain, and nearby town village, 2) sugarbush conversion with the high concentrations of maple stands, and 3) conservation, given the land’s unique size and location within the landscape.

Property highlights:  Standing timber value of $917,000;  Gross potential taps estimated at 27,000;  Long, town-maintained road frontage, established internal access and sweeping mountain views. High concentrations of sugar maples makes this property an excellent timber LOCATION investment or sugarbush opportunity. The property is in a rural setting one mile from Moretown village and a short drive to job centers, skiing and shopping. Homes near the land are dispersed and generally well maintained, creating an attractive rural neighborhood. Nearby Moretown Village hosts an elementary school, a well-appointed country store and town offices.

The flows through Moretown from the south on its way to the on the northern edge of town. A popular swimming hole with large rocks for relaxing and jumping is minutes from the property.

The adjacent towns to the north and south, Waterbury and The Mad River Valley, flowing through Moretown, with the Northfield Range, Waitsfield (each 10 miles from the where the property is located and seen, in the background. property), offer diverse job markets, a variety of retail stores and specialty restaurants. Multiple skiing venues are also nearby, including Mad River Glen, just 11 miles from the land. The regional high school is 3.5 miles to the west.

Burlington, Vermont’s largest city, and the Stowe Mountain Ski Resort are both a 45-minute drive to the west and north, respectively. Boston is about a 3-hour drive to the southeast.

Fountains Land Inc — Specializing in the sale of forestland and rural estates. ACCESS & BOUNDARIES The property has two primary points of access. Moretown Mountain Road is graveled and town-maintained, creating 6,260’ of frontage along the land’s northern boundary. Electric power and telephone service run along this road and terrain is variable, allowing for various potential new curb-cuts. There are three established driveway cuts: one located at the western end, one in the middle, and one at the height of land. An internal road leading from the middle driveway cut extends into the land for 950’, ending at a large clearing.

The western 20% of the property is accessed by 475’ of graveled, town-maintained South Hill Road. Electric power and telephone service also run along this road.

Boundary lines are in very good condition, The property’s primary access is off Mountain Road. Here, the with all lines maintained and visible with red property is on the left at The Gap with Camels Hump in view. paint. There is a survey of the property that notes two rights-of-way which appear to benefit the ownership. Both RoWs run along the property’s edge and have not been developed. Another RoW allows access for forest management from the west.

TAXES & TITLE The entire property IS enrolled in the State of Vermont’s Use Value Appraisal (UVA) program (plan date 2020). The UVA enrollment significantly lowers the property taxes in exchange for sustainable forest management and non-development uses. The 2019 taxes are $2,480.

Drone shot of the property with Moretown Mountain Road running along the boundary to the left and the internal road winding through the center.

Fountains Land Inc — Specializing in the sale of forestland and rural estates. SITE DESCRIPTION The property is entirely forested with primarily northern and western aspects; however, there are limited eastern aspects near the gap. The forest is named after Moretown Gap, which sits at the crest of the town road along the Northfield Mountain Range. The property includes the southern section of the gap, giving rise to the notable views to the west. Just inland from the gap is the property’s highest point, a peak with an elevation of 1,983’. The land’s main stream originates just west of this peak and runs northerly for 0.9 miles before crossing Moretown Mountain Road along the property’s frontage.

Topography is quite variable. Most of the higher terrain is comprised of moderate to steep slopes, while there is more gentle terrain near the road frontage and lower, western areas. Elevation ranges The property’s western slopes along the Range. from 1,983’ at the peak along the Northfield Range to 1,000’ along South Hill Road. Soils are primarily well drained with no wetlands present.

The property’s entire northern section, near the Moretown Mountain Road frontage, offers many ideal locations to develop home sites. With tree clearing, this area provides attractive local views of nearby forestland with an occasional distant home. The view also includes a panoramic view of the Green Mountain Range that extends from Mt. Abraham at Sugarbush Ski Resort to Camels Hump and beyond to the north. The view also covers the southern end of the Worcester Range with Mt. Hunger in sight, and Mt. Mansfield to the northwest.

Most of the land is sloped, from steep to gentle.

Drone shot of the potential views from the property. Mount Ellen () is all the way to the left and Camels Hump is to the right.

Fountains Land Inc — Specializing in the sale of forestland and rural estates. TIMBER RESOURCE Timber data in this report are based on a comprehensive and monumented timber inventory completed in June of 2016 for the purpose of establishing Capital Timber Value (CTV) and estimating potential sugarbush taps. 148 inventory points were sampled (1 plot per 4.7 forested acres), covering a 440’x440’ grid using a 10-factor prism. Sampling statistics are ±11.9% standard error for sawlog products and ±7.8% for all products combined at the 95% confidence interval. The timber data reveal a total sawlog volume of 4,022 MBF International ¼” scale (5.7 MBF/acre), with 11,198 pulpwood cords (16.0 cords/acre). Combined total commercial per acre volume is 27.5 cords, a figure modestly above average for the region. Growth and stumpage values were assigned to the volumes in July of 2019, producing a The well-managed forest supports a typical northern hardwoods property-wide Capital Timber Value (CTV) profile, dominated by sugar maple. of $917,000 ($1,180/total acre). See the Timber Valuation in this report for details.

Species Composition: The species composition is dominated by hardwoods (79%), with softwoods holding the balance (21%). Species composition for all products combined mirrors that of a managed northern hardwood forest type. The Subject’s resource is led by sugar maple (40%) with the primary other species consisting of yellow birch (11%), hemlock (10%), red maple (9%), white ash (8%), spruce/ fir (8%), beech (5%) and common associates (such as white pine, white birch and basswood) completing the profile.

The sawlog volume breakdown is similar; however, red spruce holds a more noticeable sawlog component, whereas hemlock is quite limited (see graph to right). The past forest management has had a noticeable impact on reducing the American beech component.

The white pine sawlogs, on average, are of larger diameter and occupy the lower northern slopes (this part of the forest became established from old field abandonment).

Fountains Land Inc — Specializing in the sale of forestland and rural estates. TIMBER RESOURCE (continued) Sawlog Value/ Thinning History: Sawlog value is largely dominated by sugar maple (59%), with red spruce, yellow birch and white ash each holding 10%.

Since the tenure of the current owner began in 2008, forest management activity in the form of thinnings, shelterwoods and group selection has been completed on roughly 70% of the acreage. This forest management activity focused growth on the best stems, primarily favoring healthy trees of selected desirable species with large diameters. The group patch cuts were located at the land’s eastern end, east of the main brook (see photo maps for group cut locations).

Diameter Distribution: Average diameter for all products combined is 13.5”, One of many areas thinned by the current while the average sawlog diameter is 15.0”. The diameter distribution generally indicates three dominant age ownership with goal of developing the best stems. classes: 35 years old, 65 years, and 80+ years. Average sugar maple sawlog diameter is 14.5”, with yellow birch at 14.5” and red spruce at 13.0”.

Stocking and Stem Quality: Aside from the recent overstory removal cut areas, forest density is generally represented by fully- stocked stands. The average Basal Area (BA) is 93 ft2 on 152 stems/ acre. Stem quality is quite good. Acceptable Growing Stock BA is 62 ft2. The previously-thinned stands are currently in a free-to-grow state with no thinning activity required. The untreated stands can be thinned anytime.

One of the property’s primary brooks, this one on the eastern side flows through a pine stand near the Moretown Mountain Road frontage.

Fountains Land Inc — Specializing in the sale of forestland and rural estates. SUGARBUSH OPPORTUNITY The property offers a sugarbush opportunity on an estimated 68% of its acreage. Two stands were identified with high maple concentrations and sugarbush potential, and the timber inventory data were run for each stand.

Stand 1 covers 479 acres with 24,089 estimated taps (52 taps/acre) and slopes to the north towards Moretown Mountain Road, where electric power is roadside (although some of the land slopes to the west to South Hill Road, which also has electric power). Stand 2 covers 50 acres with 3,239 estimated taps (65 taps/acre) and slopes to the east. Its flow direction is uncertain as some of the stand may run northeast to Moretown Gap.

Total tap count for the entire property is 27,328 (52 taps/acre) with roughly 85% of the taps from sugar maple and the balance from red maple. Trees 9” and greater were considered. Also, the timber data indicate an additional 4,245 taps may become available in the coming decades from the maple resource within the 8” diameter class.

An excellent sugar maple stand, thinned around 2013.

Fountains Land Inc. is the exclusive broker representing the seller's interest in the marketing, negotiating and sale of this property. Fountains has an ethical and legal obligation to show honesty and fairness to the buyer. The buyer may retain brokers to represent their interests. All measurements are given as a guide, and no liability can be accepted for any errors arising therefrom. No responsibility is taken for any other error, omission, or misstatement in these particulars, nor do they constitute an offer or a contract. We do not make or give, whether in these particulars, during negotiations or otherwise, any representation or warranty in relation to the property.

Fountains Land Inc — Specializing in the sale of forestland and rural estates.

TIMBER VALUATION

Fountains Land Inc — Specializing in the sale of forestland and rural estates. Locus Map Moretown Gap Forest 774 +/- Acres q Moretown, Washington County, VT " PE S Colbyville RR O a Y U T L LN S E Chases Mountain' T CO A H BURLINGTON ! LIN RD 2 ER # B £ P R E ¤ Y D E HIL L R 2257 A Moretown Gap Forest A R 87 _ 100 ST ^ S ¦¨§ UV " S Adirondack T W AM Park P ST R 89 93 K"I WATERBURY D ¦¨§ ¦¨§ OS E NO C N WI T 95 E L ¦¨§ R HIL LE D R B 91 R ¦¨§ D D B A T M R R R R A IV A I N C N E H S R O 90 S " T R ¦¨§ T D D D

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R E V E W Y D PublicH Land R A R D Scrag Mountain' I R OL L L L R L L RKE IL S # I Y H H R U D T R W T D ON 2911 R B E U M Other Conserved Lands N R N O U D D D N VI Y R R I NE T R N T O ST S RO TO R N " D LS S S G L T D 0120.5N Miles O I H K # ELM WARREN ST 2405 Moretown Gap Forest 774 +/- GIS Acres q Moretown, Washington County, VT D

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Legend Moretown Gap Forest Interstate Highway Maintained Town Rd Unmaintained Town Rd Private Rd Legal Trail ROW's Held by Domain Landing 1,000500 0 1,000 This is Not A Survey Feet

Map produced from the best available information including town tax maps, hand held GPS data, aerial photography and reference information obtained from publicly available GIS sources, and the owner. Boundary lines portrayed on this map are approximate and could be different than the actual location of boundaries found in the field. Moretown Gap Forest 774 +/- GIS Acres q Moretown, Washington County, VT D

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Legend Moretown Gap Forest Interstate Highway Maintained Town Rd Unmaintained Town Rd Private Rd Legal Trail ROW's Held by Domain Landing 1,000500 0 1,000 This is Not A Survey FeetVCGI

Map produced from the best available information including town tax maps, hand held GPS data, aerial photography and reference information obtained from publicly available GIS sources, and the owner. Boundary lines portrayed on this map are approximate and could be different than the actual location of boundaries found in the field.

Feet " 01/15/2018 Sugarbush Map Sugarbush 500 774.1 GIS Acres Total Acres 774.1 GIS ADK Green Mountain LLC Property Boundary West Sugarbush- 478.9Acres GIS Acres East Sugarbush-49.9GIS Interstate Highway Rd Maintained Town Rd Unmaintained Town Private Rd Legal Trail Open Road Landing NC Steep ROW Utility Wetland 528.8 GIS Sugarbush Acres 528.8 Sugarbush GIS Moretown Gap Forest Gap Moretown Owned By:Partners Timbervest II Moretown, Washington County, VT County, Moretown, Washington Legend þþþþ þþþþ 1,000 0 1,000

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