Community Maritime Park PROPOSAL for the COMMUNITY MARITIME PARK MASTER DEVELOPER

Home , Athletic Park (Duluth), AutoZone Park, Harbor Park, Isotopes Park, Principal Park, Russ Chandler Stadium

Community Maritime Park PROPOSAL FOR THE COMMUNITY MARITIME PARK MASTER DEVELOPER

Panel Participants

Scott Davison Land Capital Group Jeff Galt Brass Real Estate Funds Joe Williams The Target Group Bruce Cutright Project Manager Jane Birdwell BPM Stan Skocki The Normandy Group Overview of Presentation

I. EVALUATION CRITERIA II. KEYS TO SUCCESS III. PROPOSAL I. EVALUATION CRITERIA

1. Preferred Uses, Project Goals & Objectives I. EVALUATION CRITERIA

1. Preferred Uses, Project Goals & Objectives 2. Development Team Experience I. EVALUATION CRITERIA

1. Preferred Uses, Project Goals & Objectives 2. Development Team Experience 3. Reasonableness and Integrity of Project Concept I. EVALUATION CRITERIA

1. Preferred Uses, Project Goals & Objectives 2. Development Team Experience 3. Reasonableness and Integrity of Project Concept 4. Proposed Financial Terms and Conditions I. EVALUATION CRITERIA

1. Preferred Uses, Project Goals & Objectives 2. Development Team Experience 3. Reasonableness and Integrity of Project Concept 4. Proposed Financial Terms and Conditions 5. Project Schedule 6. Broad Commitment to the Covenant with the Community & Implementing Contractor Academy I. EVALUATION CRITERIA

• Collaboration II. KEYS TO SUCCESS

• Collaboration • Transparency II. KEYS TO SUCCESS

• Collaboration • Transparency • Innovation II. KEYS TO SUCCESS

• Collaboration • Transparency • Innovation • Results Oriented Culture II. KEYS TO SUCCESS

• Collaboration • Transparency • Innovation • Results Oriented Culture III. PROPOSAL

1. General Development Team 2. Developer Experience 3. Project Concept 4. Project Financing 5. Private Improvement Marketing 6. Project Operations & Management 7. Covenant with the Community 8. Project Schedule 1. General Development Team 2. Development Experience • Single Tenant Retail • Multi-Tenant Retail • Mixed Use • Power Centers Single Tenant Single Tenant Multi-Tenant Mixed-Use Power Center Power Center Power Center Power Center Pensacola Projects Walgreen’s Cervantes & 9th Starbucks / Multi Tenant 5145 Bayou Boulevard - Rave Office Depot / Chili’s / Wachovia/ MT Mobile Highway & Fairfield Drive Role: Co-Developer

• HQ in San Antonio, TX • Owner – Rick Rodriquez • Started 1991 • Primary Experience in Residential & Office • Largest Operator of Office Product in the San Antonio MSA Role: Private Financing

• $400 Million in Real Estate Projects • Secured over $300 Million in Debt Financing • Secured over $100 Million in Equity Financing • Rick Rodriquez – General Partner • Largest Owner of Office Product in the San Antonio MSA • Co-Founder of the Council of Minority Entrepreneurs • Co-Founder of Target Group, Inc. • First business owner to be named an office of the Chicago Purchasing Council • Headed the first Illinois Small Business Administration 503 Loan Plan • Has worked extensively in developing enterprise zone legislation in Illinois Joseph A. Williams President Role: Stadium Architect

• World’s Leading Sports Architecture Firm • 825 Projects Completed Globally • $14 Billion in Project Value • Wide Variety of Stadium Uses and Sizes

SINGLE A BASEBALL

• Bakersfield Stadium, California, 2008 • Dow Diamond, Midland, Michigan, 2007 • Clinton Alliant Energy Field/Riverview Stadium Renovation and Addition, 2006 • Bright House Networks Field, Clearwater, Florida, 2003 • Ballpark at St. George Station, Staten Island, New York, 2001 • T.R. Hughes Ballpark, O'Fallon, Missouri, 1999 • Edward A. LeLacheur Park, Lowell, Massachusetts, 1998 • Roger Dean Stadium, Jupiter, Florida, 1998 • Joseph P. Riley, Jr. Park, Charleston, South Carolina, 1997 • Arrowhead Credit Union Park, San Bernardino, California, 1996 • Lancaster Municipal Stadium, Lancaster, California, 1995 • City of Palms Park, Fort Myers, Florida, 1993 • Philip B. Elfstrom Stadium, Geneva, Illinois, 1991 • John O'Donnell Stadium Expansion, Davenport, Iowa, 1989, 2004 • Ed Smith Sports Complex, Sarasota, Florida, 1989 • Boardwalk & Baseball, Hanes City, Florida, 1988 • Port St. Lucie Sports Complex, Florida, 1988 • Stanley Coveleski Regional Stadium, South Bend, Indiana, 1987 Dow Diamond (A) Midland, Michigan 2007 DOUBLE A BASEBALL

• Trustmark Park, Pearl, Mississippi, 2005 • Greenville South Carolina Ballpark Study, 2004 • Montgomery Riverwalk Stadium, Montgomery, Alabama, 2004 • Baseball Grounds of Jacksonville, Jacksonville, Florida, 2003 • First American Bank Ballpark at Scharbauer Sports Complex, Midland, Texas, 2002 • Riverfront Stadium, Newark, New Jersey, 1999 • Canal Park, Akron, Ohio, 1997 • Springfield Ballpark, Springfield, Massachusetts, 1997 • Senator Thomas J. Dodd Memorial Stadium, Norwich, Connecticut, 1996 • Nelson Wolff Stadium, San Antonio, Texas, 1994 • Clinton Alliant Energy Field/Riverview Stadium Renovation and Addition, Clinton, Iowa, 1992 • Lawrence Dumont Stadium Renovation, Wichita, Kansas, 1990 Trustmark Park (AA) Pearl, Mississippi 2005 TRIPLE A BASEBALL

• Coca Cola Park, Allentown, Pennsylvania, 2008 • Nashville Sounds Ballpark, Nashville, Tennessee, 2008 • Sierra Nevada Ballpark, Sparks, Nevada, 2008 • Commerce Bank Park Renovation, Harrisburg, Pennsylvania, 2008 • Isotopes Park, Albuquerque, New Mexico, 2003 • Chukchansi Park, Fresno, California, 2002 • Autozone Park, Memphis, Tennessee, 2000 • Southwestern Bell Park, Oklahoma City, Oklahoma, 1998 • Alliance Bank Stadium, Syracuse, New York, 1997 • Victory Field, Indianapolis, Indiana, 1996 • Durham Bulls Athletic Park, Durham, North Carolina, 1995 • New Orleans Triple-A Ballpark, New Orleans, Louisiana, 1995 • Franklin Covey Field, Salt Lake City, Utah, 1994 • Harbor Park, Norfolk, Virginia, 1993 • Scottsdale Stadium, Scottsdale, Arizona, 1992 • Principal Park, Des Moines, Iowa, 1992, 1995, 2000, 2006 • Dunn Tire Park, Buffalo, New York, 1988, 2004 SELECT COLLEGIATE BASEBALL EXPERIENCE

• Clemson University Doug Kingsmore Stadium, Clemson, South Carolina • Florida State University Dick Howser Stadium, Tallahassee, Florida • Georgia Tech Russ Chandler Stadium, Atlanta, Georgia • Kansas State University Tointon Family Stadium, Manhattan, Kansas • San Diego State University Tony Gwynn Stadium, San Diego, California • Tulane University Baseball Stadium Renovations, New Orleans, Louisiana • University of Arkansas Baum Stadium at George Cole Field, Fayetteville, Arkansas • University of Houston Cougars Baseball Stadium, Houston, Texas • University of Miami Alex Rodriguez Park, Coral Gables, Florida • University of North Carolina - Greensboro Spartan Stadium, Greensboro, North Carolina • University of North Carolina Baseball Stadium, Chapel Hill, North Carolina FSU Dick Howser Stadium Renovation Tallahassee, Florida 2004 Role: Architect

• Extensive Historical Building Design & Renovation Experience • Extensive Commercial Office Expertise • Award Winning Designs

Role: Architect

• 50 years experience • Private and Public Sector Project Experience • Diverse Project Types • 40 Design Excellence Awards

Bruce L. Cutright

Role: Project Manager Ritz Carlton

• Baltimore, MD • 192 Residential Units • $300,000,000 Project Costs • Currently Under Construction Ritz Carlton

• Long Island, NY • 278 Residential Units • $400,000,000 Project Costs • Currently at Construction Bid Stage Ritz Carlton/Shopping Center

• Manhasset, NY • $500,000,000 Project Costs • Currently in Planning and Schematic Design Stage Mixed Use Development

• Miami, FL • 650,000 sf Retail • $1.5 Billion Project Costs • Towers 2 & 4 Complete • Infrastructure Complete Mixed Use Development

• Miami, FL • Retail • Residential • Office • Structured Parking • 680,000 sf Mixed Use Development Resort Development

• Aruba • Ritz-Carlton • 176 Units • Casino • Restaurant • Ballroom Facilities Waterfront Development

• St. Lucia • 210 Condominiums • 150 Room Hotel • 50 Slip Marina Golf Course Development

• Palm Coast, FL • Golf Course • Single Family • Condominiums • 250,000 sf Retail Port Facility

• Grand Cayman • Cruise Ship Pier • Cargo Port III. PROPOSAL

• Site Master Plan, Public & Private Improvements • Development Principles and Design Criteria • Relationship Management • Financial Terms • Project Schedule Site Master Plan, Public & Private Improvements Private Improvement Planning: External Factors

• Market Preferences • Existing Economic Climate • Additional Public Financing Sources 3. Project Concept

• Site Master Plan, Public & Private Improvements 3. Project Concept

• Site Master Plan, Public & Private Improvements • Development Principles and Design Criteria 3. Project Concept

• Site Master Plan, Public & Private Improvements • Development Principles and Design Criteria • Relationship Management • Financial Terms • Project Schedule Relationship Management

• CMPA & City of Pensacola • University of West Florida (UWF) • The Studer Group • The Pensacola Pelicans 3. Project Concept

• Site Master Plan, Public & Private Improvements • Development Principles and Design Criteria • Relationship Management • Financial Terms Financial Terms

Master Developer responsible for construction of all Public Improvements utilizing public funds

Master Developer responsible for financing and construction of all Private Improvements

CMPA not responsible for any guarantees for Private Improvements

Master Developer to pay CMPA/City lease rate on Private Improvement land area a rate equal to 6% per year of appraised value of the unimproved property as of June 30, 2008 payable beginning at building C of O Financial Terms – Profit Sharing

Master Developer shall profit share as follows:

• 25% of Private Improvement Profits above 12% IRR Up to $500,000 per Year Funding to be used to establish and maintain a non- profit foundation for the on-going operations of Contractors Academy Financial Terms – Operating Cash Flows

All net cash flow from the operations of the Public Improvements shall be the property of the CMPA

Net Cash Flow = Gross Revenues Less: Cost of Goods Sold Operating Expenses Facilities Management Expenses Reserves for Capital Repairs and Improvements 3. Project Concept

• Site Master Plan, Public & Private Improvements • Development Principles and Design Criteria • Relationship Management • Financial Terms • Project Schedule III. PROPOSAL

• Financing Approach • Development and Operating Proforma • Project Bonding 4. Project Financing

• Financing Approach • Private Financing 4. Project Financing

• Financing Approach

• Private Financing • Public Financing 4. Project Financing

• Financing Approach • Development and Operating Proforma 4. Project Financing

• Financing Approach • Development and Operating Proforma • Project Bonding III. PROPOSAL

• Comprehensive Market Studies • Tenant Response (level of interest, size, location, co-tenancy, opening dates, rates, build-out requirements, etc.) • Physical Constraints of the Property • Timing Based on Market Conditions • Construction Costs for Various Uses 5. Private Improvement Marketing

• Comprehensive Market Studies 5. Private Improvement Marketing

• Comprehensive Market Studies • Tenant Response (level of interest, size, location, co-tenancy, opening dates, rates, build-out requirements, etc.) 5. Private Improvement Marketing

• Recommended Management Structure • UWF Fees • Public & Non-Profit Use of Public Improvements III. PROPOSAL

• Inclusion Policy • Contractors Academy • Bonding and Performance Guarantee • Implementation • Measuring Compliance Inclusion Policy

• Local Businesses • Minority Owned Businesses • Women Owned Businesses • Small Businesses

Contractors’ Academy

• Funding • Targeted Groups • Collaboration with Existing Educational Programs Bonding & Performance Guarantees

• Divide Jobs into Smaller Increments • Co-Guarantee Bonds Implementation & Measuring Compliance Historical Perspective

Chicago-based management consulting firm that promotes human capital development.

Founded in 1983 by it’s current chairman, Joseph A. Williams. III. PROPOSAL