Parramore Redevelopment Opportunity

PARRAMORE REDEVELOPMENT

OPPORTUNITY

The Confluence Sanctuary

Construct Two Group

30 S. Ivey Lane·Orlando·Florida·32811 PARRAMORE REDEVELOPMENT OPPORTUNITY

TITLE PAGE

DEVELOPER CONSTRUCT TWO GROUP 30 S. IVEY LANE ORLANDO, FLORIDA 32811 407-295-9812 [email protected] CONTACT: DERRICK WALLACE December 4, 2015 SUBJECT: PARRAMORE REDEVELOPMENT OPPORTUNITY

PARRAMORE REDEVELOPMENT OPPORTUNITY

TABLE OF CONTENT

TAB 1.3 GENERAL INFORMATION OF THE DEVELOPER ...... 1

1.4 STATEMENT OF QUALIFICATION ...... 2

1.5 DEVELOPMENTAL PROPOSAL ...... 3

1.6 SITE PLAN INFORMATION ...... 4

1.7 QUALITY OF DESIGN AND CONSTRUCTION...... 5

1.8 CRIME PREVENTION THROUGH ENVIRONMENTAL DESIGN INFORMATION ...... 6

1.9 TOTAL PROJECT DEVELOPMENT COSTS AND FINANCING ...... 7

1.10 PURCHASE PRICE AND OTHER FINANCING CONSIDERATIONS ...... 8

1.11 PROJECT TIMELINE ...... 8

1.12 PERFORMANCE GURANTEE ...... 8

1.13 MBE/WBE ...... 8

1.14 LIVING WAGE ...... 8

1.15 INVESTIGATION AND LITIGTION...... 8

1.16 EXCEPTIONS ...... 8

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1.3 GENERAL INFORMATION OF THE DEVELOPER a. Name of business Construct Two Group b. Names of persons authorized to make representations regarding the proposal Derrick Wallace

c. Mailing Address/Phone Number / Email 30 S. Ivey Lane Orlando, Florida 32811 407-295-9812 [email protected] d. State if the business is local, national, or international and indicate the business status (corporation, partnership, nonprofit, etc.). The business is a local business. e. Give the date the business was organized and/or incorporated, and where. August 19, 1990

f. Give the location of the office from which the work is to be done and the number of professional staff employees at the office. Corporate Office is located at 30 S. Ivey Lane, Orlando, Florida 32811 g. Indicate whether the business is a parent or subsidiary in a group of firms/agencies. Single Entity Organization h. State if the business is licensed, permitted and/or certified to do business in the State of Florida and attach copies of all such licenses issued to the business entity Construct Two Group is licensed to do business in the State of Florida

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EXHIBIT D Construct Two Group is currently certified with the City of Orlando as a Minority/Women- Owned Business Enterprise:

Business Name: Construct Two Group______Certification Number: 20074467______Expiration Date: 03/31/2016______

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1.4 STATEMENT OF QUALIFICATION

1. Team Organizational Structure

I would like to introduce you to the outstanding group of firms that we have selected. They are the best at what they do and each possesses the skills required for this project to be successful. The firms include:

 Construct Two Group – Developer - Construct Two Group will serve as the developer that understands and has developed a strategy to accomplish what the other respondents will see as the impossible in getting the needs of FAMU completed. We bring three of the most highly regarded banks in the US. They are our financial partners. We offer greater flexibility in the approaches to financing because of the options that are at our collective disposal. Construct Two Group brings a consortium consisting of professionals with real world experience in design, finance, construction, development, public and private relations, parking, residential and commercial real properties—mixed use, hotels, stadiums, and housing.

Our financial partners include traditional banks, SunTrust Community Capital, and Fifth Third. We have assembled a team of experts who know how to exercise various public funding mechanisms, i.e., historic tax credits, CDBG funds, HOME Funds, Real Estate Investment Trusts, Private equity and debt, EB-5 funding and New Markets Tax Credits. The combined experience of Construct Two Group’s team spans well over a century of credentials and know how. Construct Two Group’s client base consists of colleges and universities, state, county and city governments, public schools systems and major entertainment amusement parks including Universal.

 Clark Construction Group – Construction Manager – Clark Construction Group is one of the most experienced and respected building and civil construction firms in the United States. Clark will be responsible for providing the performance bond on the entire project. They will provide pre-construction services through all phases of the project from conceptual to construction drawings. They will be responsible for construction of Cass Facility, Athletic Facility, Stadium and Parking Garage.

 SunTrust Community Capital – Financial Organization – Experts at Low Income Housing and New Markets Tax Credits. Their experienced professionals know how to make optimal use of subsidies to projects in qualified census tracts that demonstrate significant, positive community impact. Working with FAMU, they will suggest an innovative approach to receiving the funding needed for the stadium.

 Fifth Third Bank – Financial Organization – The curious bank. They are one of the top-performing banks in the country with a more-than-150-year heritage. The bank continues to invest the time, resources and people to help build a better tomorrow in the communities it serves. Fifth Third Bank will join SunTrust in offering FAMU financing strategies. This project offers a great opportunity to bring a solution to a great need of FAMU.

 Edgemoor Infrastructure – Financing and Development – They have an extensive track record in feasibility studies and project analysis. They are able to help government agencies, property owners, developers, and investors make informed decisions, offering long-term direction. They assist clients with comprehensive concept development, market risk analysis, budgeting and scheduling, analysis of zoning impacts, environmental due diligence, geotechnical studies, grading analysis and financial structuring. Their past projects have withstood public scrutiny because of key decisions made during project feasibility process, thus limiting their clients’ exposure in the zoning and entitlements approval process. Edgemoor will help FAMU structure the financing and development of the Housing component.

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 Johnson Consulting – Financial Consultant - A leading real estate consulting firm. The firm works on many types of real estate uses, including, housing, entertainment/urban development districts, mix use development and many others. They will provide market and financial studies. They have the experience to take FAMU’s project from conception to completion, and the capacity to manage all the steps in between. Johnson Consulting will execute the following:  Interview stakeholders to understand the deal structure, project interrelationships, and distribution of cash flows  Analyze the proposed site and surrounding on- and off-campus development patterns and transportation access relative to factors which influence market support and demand penetration  Examine and forecast regional economic trends relevant to population growth and changes in entertainment options for consumers who may use the stadium facilities  Interview current management, athletics officials, and other university representatives in order to gather information about expectations for the future of the University’s athletics programming, and  Evaluate specialty revenue potential, including club seats, luxury suites, naming rights, and capital contributions from the corporate community  Analyze 2,000 beds of dormitory space, 50,000 square feet of retail space  Web-based user survey to gauge interest of local community and University affiliates  Investigate the potential for additional premium seating as part of the stadium expansion

 FINFROCK – DESIGN/BUILD Services – FINFROCK takes a radically different approach by delivering the "whole building" through a unified "design-manufacture-construct" approach. FINFROCK operates with a vertically integrated business model centered on supplying value and single source responsibility through all project phases. FINFROCK develops innovative solutions for structured parking, office buildings, multi- unit residential complexes, and mixed-use facilities particularly where parking is an integral part of the project.

By providing single source responsibility for the entire process, FINFROCK virtually eliminates your risk.

Our experience enables us to deliver exactly the building you need.

How FINFROCK Reduces Owner’s Risk

 Single source responsibility reduces the potential for litigation  Lump sum contracting eliminates contractor initiated change orders  Continuous process and product improvement increases building quality  Speed of precast/prestressed concrete construction reduces disruption on and off site  Exceptional financial strength provides bonding capacity for large projects, assuring performance Reduced Costs FINFROCK’s project delivery system is unmatched in its quality and efficiency. This enables us to lower our prices while improving performance, resulting in more value for your project dollar. FINFROCK can even leverage its experience to provide early, accurate, guaranteed all-inclusive prices that include design by answering 3 to 6 critical questions. How FINFROCK Reduces Costs  Early knowledge of guaranteed project costs significantly reduces owner risk in determining project feasibility

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 Constant improvements in our processes and products reduces maintenance and overall project costs through innovation  A compressed project schedule reduces interest costs and improves ROI  Improved integration and coordination of subsystems avoids subcontractor sub-optimization, greatly reducing costs by optimizing the whole building rather than each part  Durable, fire resistant precast/prestressed concrete structures provide the ability to reduce insurance rates and lower maintenance and life cycle costs  Precast/prestressed concrete structural products with architectural finishes eliminates redundant systems  As a specialist in parking, multi-unit residential and mixed-use markets our expertise provides more efficient designs and outstanding long-term durability Reduced Schedule As a vertically integrated company FINFROCK is able to conduct work in multiple phases of a project simultaneously. With multiple disciplines moving forward at the same time, schedules are shortened.

a. Planning/Development Team Qualifications and Experience

I would like to describe the history, background and capabilities of each firm on the team. They include:

Construct Two Group - CTG is Florida’s largest African American general contractor firm, and is ranked Number 1 on Orlando Business Journal’s (OBJ) list of Central Florida’s Golden 100 - Fast 5. CTG is also Small Business Administration 8(a) certified. With a general contracting expertise complemented by a series of mentor relationship, CTG has provided specialized construction services from Sports Facilities, Parking Garages, Convention Center, Educational Facilities (K-12 and Higher Learning), Correctional Institution, and High Tech Facilities for major Universities infrastructure projects.

CTG’s joint venture experience comes thru several major projects with firms like Clark Construction Group - Orange County Convention Center and Ft. Stewart Modular Temporary Facility Design-Build Centex Rooney (now Balfour Beatty) – Several K-12 schools and University Housing Facilities, Haskell Company - A Women’s correctional facility, Demetree Central - Parking Garage, which are all major firms. They have also successfully joint ventured with JCB Construction, an African American firm on a major infrastructure project for the University of Central Florida.

CTG’s annual volume is composed of new and renovation projects including hospitality, healthcare, educational facilities, transportation, office buildings, and federal and local government’s facilities. CTG is an award winning firm, recognized by numerous ABC Awards for Excellence in Construction “Eagle Award”, including the Winter Haven Area Transfer Facility (pictured left).

CTG is the builder of the largest project ever constructed for a state institution that was given to a minority firm. It is Florida A & M University’s Developmental Research School. CTG years of experience and because of mentoring relationships regional and national firms prepare it to lead this effort to provide FAMU a new Stadium and Athletic Facility.

Our history of projects experience includes: Public Sector Aviation  Greater Orlando Aviation Authority, Orlando International Airport

OIA Design Build Parking Garage

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o Landside Terminal Parking Garage o Design/Build Parking Garage

Education - K – 12  Orange County Public Schools, Orlando, Fla. o Westbrooke Elementary School o Eagle Nest Elementary School o Avalon Park Elementary School o Chain of Lakes Middle School o Corner Lakes Middle School o Discovery Middle School o Dr. Phillips Ninth Grade Center o Jones High School Phase A, B, C Westbrooke Elementary School o Timber Creek High School o Olympia High School  Hillsborough County School District, Tampa, Fla. o Sligh Middle School  Polk County School District, Bartow, Fla. o Caldwell Elementary School

Education - College/University UF Levine Law Advocacy Center  University of Florida, Gainesville, Fla. o Levin Advocacy Law Center  Florida A & M University, Tallahassee, Fla. o Developmental Research School o Gaither Gymnasium o Continuing Services Contract o President’s House o MLK Manhole Replacement  University of Central Florida, Orlando, Fla. o Academic Villages UF Levin Law Advocacy Center o Student Union Florida A&M University DRS o Residence Hall o Campus-Wide Fire Protection and Water Main System o Student Housing Apartments

Government Federal  U.S. Army Corps of Engineers  Modular Temporary Facilities, Ft. Stewart, Ga.  National Guard Armory Maintenance Facility #4, Haines City, Fla. Florida A&M University DRS Local  City of Lakeland, Fla. – Bush-Coleman Community Center  City of Orlando, Fla. o Primrose Service Center o Dover Shores Community Center Modular Temporary Facilities o Lake Loma Donne and Tampa Avenue Drainage Improvements  City of St. Petersburg, Fla. - Dell Homes Park  Orange County, Fla. Modular Temporary Facilities

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o Orange County Convention Center Phase V Expansion o Orange County Jail Expansion  Panama City Beach, Fla. – Public Library  Winter Haven Transfer Facility, Winter Haven, Fla.

Private Sector

Commercial  Windsor Place, Orlando, Fla.  St. Stephens A.M.E. Church, Retail Building, Jacksonville, Fla. Incredible Hulk Roller Coaster, Entertainment/Themed Universal Studios Florida  Universal Studios, Orlando, Fla. Incredible Hulk Roller Coaster, o Incredible Hulk Roller Coaster Universal Studios Florida o Spiderman Ride  Walt Disney World, Orlando, Fla. o BET Soundstage Club o Wide World of Sports o Coronado Springs Resort and Convention Center

Industrial/Transportation  British Petroleum Fueling Facility, Lithopolis, Ohio Disney Wide World of Sports

 Wildwood Sewer and Water Improvements, Progress Energy Disney Wild World of Sports  Lockheed Martin Continuous Services Contract, Orlando, Fla. Recreational  Universal Orlando Boys and Girls Club, Orlando, Fla.  YMCA Tangelo Park, Orlando, Fla.

Religious  Bethel AME Church, Tallahassee, Fla.  Mount Pleasant Missionary Baptist Church  St. Mark AME Church Family Life Center  Way of Life Ministries

Rankings  University of Florida - Florida's 100 Fastest Growing Companies  Inc. Magazine #4 Inner City 100 Fastest-growing privately-held inner city businesses in America  Orlando Business Journal, 2009 25 Largest construction companies  Orlando Business Journal 2008 Golden 100, Largest Privately-Owned Businesses  Orlando Business Journal 2008 Fast-Track Five, named fastest growing company in Central Florida  Orlando Business Journal 2008 Largest Minority Owned Businesses List  Southeast Construction Magazine, 2009 Largest Contractors List  Southeast Construction Magazine, 2008 Largest Contractors List

Awards  Associated Builders and Contractors Eagle Award for Florida A&M University  Associated Builders and Contractors Eagle Award for Winter Haven Area Transit  Associated Building and Contractors Eagle Award for Westbrooke Elementary School

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 Associated Building and Contractors Eagle Award for UCF's Academic Villages  Associated Builders and Contractors Excellence in Construction Award Program o 2009 National STEP Gold Level, Safety Award o 2008 National STEP Gold Level, Safety Award o Project of the Year - Universal Orlando Islands of Adventure Incredible Hulk Roller Coaster o Project of the Year - Walt Disney World Coronado Springs Resort and Convention Center o Award of Merit – Universal Orlando Islands of Adventure Incredible Hulk Roller Coaster  Orlando Regional Chamber of Commerce o Top 25 Small Business o Distinguished Leadership Alumni  John H. Sykes College of Business, University of Tampa - Florida Family Business Award  National Minority Supplier Diversity Council - Regional Supplier of the Year  Southeast Construction Magazine - Best Public Building Award - Orange County Convention Center Phase V Expansion

Community Service  A Gift for Teaching  Boys and Girls Clubs  Central Florida YMCA Black Achievers  Citizens for Quality Education  Goodwill Industries of Central Florida  Hankins/Johnson Educational Foundation, Inc.  Hi-Tech Tutoring Center  Orange County Public Schools Partners in Education  Orange County Public Schools Teach-In  Orlando Sentinel Newspaper in Education Program ABC Eagle Award

Clark Construction Group – Construction Manager—Founded in 1906, Clark Construction Group, LLC (Clark) has grown from humble beginnings as a small excavating company based in Washington, D.C. to one of the industry’s most experienced and respected providers of construction services. With annual revenue in excess of $4.2 billion, Clark is consistently ranked among the largest construction companies in the United States.

Clark’s seven offices are strategically located to serve the needs of its clients throughout the United States. Capable of performing work in all 50 states, Clark is the nation’s 2nd largest general building contractor, as ranked by Engineering News Record, a leading industry publication.

Clark has led the construction of some of the finest stadiums, arenas, athletic facilities, recreation centers, and clubhouses at the professional and collegiate level, and in turn, has a rich history of working with public and private ownership groups to deliver projects to meet the expectations for schedule, cost, quality, and luxury. Clark has successfully delivered a number of sports venues with contract values in excess of $100 million. We have provided preconstruction services for local venues such as Nationals Park and the Verizon Center and have built both National Football League (FedEx Field and M&T Bank Stadium) and Major League Baseball (Nationals Park and Oriole Park at Camden Yards) stadiums in Baltimore, Maryland and Washington, D.C.

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SunTrust Community Capital - Financial Organization - SunTrust Banks, Inc., with total assets of $175.3 billion on December 31, 2013, is one of the nation's leading financial services holding companies. Through its flagship subsidiary, SunTrust Bank, the company provides deposit, credit, trust and investment services to a broad range of retail, business and institutional clients. Other subsidiaries provide mortgage banking, asset management, securities brokerage, and capital market services.

Atlanta-based SunTrust enjoys leading positions in some of the most attractive markets in the United States and also serves clients in selected markets nationally. We are committed to Lighting the Way to Financial Well-Being for our clients. It is our purpose as an organization, and we do it by putting our clients’ interests first. We strive to understand our clients’ individual circumstances and provide personalized advice and services that meet their unique banking, borrowing, and investing needs.

Fifth Third Bank – Financial Organization - Since 1858, Fifth Third Bank has been helping to improve the well-being of individuals, families, businesses and communities. In addition to providing financial products and services, Fifth Third has lived its commitment to earn trust and build value. Here is a brief snapshot of our history of growth and innovation, financial empowerment and community involvement: Financial Organization -The curious bank. They are one of the top-performing banks.

Fifth Third traces its origins to the Bank of the Ohio Valley, which opened its doors in Cincinnati in 1858. In 1871, that bank was purchased by the Third National Bank. With the turn of the century came the union of the Third National Bank and the Fifth National Bank, and eventually the organization became known as "Fifth Third Bank." Since its beginning, Fifth Third has provided superior customer service and followed sound banking principles.

Edgemoor and its construction affiliates have delivered more than 75 design-build projects, valued at over $7 billion. Previous design-build efforts include some of the largest and most complex commercial buildings, roads and residential projects in the country. With this knowledge base we have exceptional expertise in constructability, budgeting, cost control and logistical input. This unique expertise ensures our clients that their project will be delivered within the established schedule and financial constraints.

Edgemoor believes the purpose of investing time and energy in a structured development process is to eliminate risk and to deliver a project that exceeds the goals and objectives of our clients. Edgemoor reduces project risk by performing strict due diligence on project development and financial requirements, verifying programming requirements, providing a fixed-price for development, design and construction, and guaranteeing the schedule early on in the process. We have used the following financing methods:  Build America Bonds  Tax-Exempt Funding  Public Private Educational Facility and Infrastructure Act of 2002

Johnson Consulting, Inc. (Johnson Consulting) – Financial Consultant – Johnson Consulting is a corporation founded in 1996 in Chicago, Illinois. Since inception 19 years ago, Johnson Consulting has conducted hundreds of engagements in the U.S., Central and South America, Asia, Africa and Europe with a focus on economic, market

PARRAMORE REDEVELOPMENT OPPORTUNITY and financial analysis, for a variety of land uses, including professional and collegiate sports venues, convention centers, hotels, retail, housing, and specialized development throughout pre-development and through continuing operation.

Our staff of 10 at Johnson Consulting has worked in sports and real estate planning and consulting fields for over 30 years. The majority of this work is focused on development consulting, operational reviews of stadiums and sports facility management and authority structures as well as downtown and urban development and redevelopment planning, feasibility studies, economic and fiscal impact analyses, and developer solicitations.

The majority of our clients are both public sector agencies and universities, although we perform studies for a number of private developers and sports owners as well. With both public and private sector clients, we deliver high-quality work in a timely manner. Numerous repeat engagements with several clients are evidence of our reputation for quality and client satisfaction.

We have provided analysis, insight and recommendations for numerous collegiate stadiums and arenas across the nation. Additionally, we provide the same type of service for most other types of professional sports, including NFL, NHL, NBA, and MLS. Our knowledge of hotels, retail, residential and general real estate allows us to help devise real estate strategies around these projects, which can often help in funding them. Johnson’s history includes the following projects:

REAL ESTATE AND TIF DISTRICTS FAU- Innovation Village – Housing

FINFROCK – Design/Build – FINFROCK Industries, Inc. was established by Robert JD Finfrock in 1945 to develop concrete products for residential and commercial construction. Starting their business with floor and roof tiles, FINFROCK's engineering experience and ambition led to the business expanding into wall systems, specialty technical concrete development, and prestressed concrete utility poles and innovative commercial building components. Under the leadership of the founder’s son, structural engineer Robert D Finfrock, the company expanded into advanced prestressed concrete structure design, manufacturing and construction. Second and third generation members of the Finfrock family currently work to guide the company in developing revolutionary new building systems and improved processes so that clients can reduce their risk which is inherent in traditional project delivery methods.

Relevant Relationships Clark Construction Group and Construct Two Group have a 25 year relationship of a Mentor-Protégé. A notable project for us is the $500 million Phase 5 – Orange County Convention Center.

Construct Two Group and Derrick Wallace relationship started in 1980 at First National Bank of Orlando (Which changed its name to SunBank, Inc) before the merger of SunBank, Inc. and Trust Company of Georgia to form SunTrust Banks, Inc. Through Dana Chestnut, Vice President, SunTrust Community - A FAMU graduate and a leader in understanding that FAMU solution to getting the stadium is a “MUST” to its revitalization. Dana and Derrick’s relationship spans over 10 years.

Construct Two Group and Derrick Wallace have had a 16 year relationship with Fifth Third Bank through the Merger of Fifth Third and First National Bankshares of Florida, Inc. Derrick Wallace has served on the board of directors for 13 years.

PARRAMORE REDEVELOPMENT OPPORTUNITY b. Financing Experience

. Financial and Banking References - Partners Name of Reference: Dana Chestnut Title: First Vice President Name of Company: SunTrust Community Capital Email address and/or telephone number: [email protected]/404-827-6949

Name of Reference: Harold Garlock Title: Senior Vice President, Florida - Education, Governments & Institutions Name of Company: Fifth Third Bank Email address and/or telephone number: [email protected]/813-306-2559

PARRAMORE REDEVELOPMENT OPPORTUNITY c. Project Experience

PARRAMORE REDEVELOPMENT OPPORTUNITY d. References

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e. Awards  Associated Builders and Contractors Eagle Award for Florida A&M University  Associated Builders and Contractors Eagle Award for Winter Haven Area Transit  Associated Building and Contractors Eagle Award for Westbrooke Elementary School  Associated Building and Contractors Eagle Award for UCF's Academic Villages  Associated Builders and Contractors Excellence in Construction Award Program o 2009 National STEP Gold Level, Safety Award o 2008 National STEP Gold Level, Safety Award o Project of the Year - Universal Orlando Islands of Adventure Incredible Hulk Roller Coaster o Project of the Year - Walt Disney World Coronado Springs Resort and Convention Center o Award of Merit – Universal Orlando Islands of Adventure Incredible Hulk Roller Coaster  Orlando Regional Chamber of Commerce o Top 25 Small Business o Distinguished Leadership Alumni  John H. Sykes College of Business, University of Tampa - Florida Family Business Award  National Minority Supplier Diversity Council - Regional Supplier of the Year  Southeast Construction Magazine - Best Public Building Award - Orange County Convention Center Phase V Expansion

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PARRAMORE REDEVELOPMENT OPPORTUNITY f. Organizational Chart

DERRICK WALLACE CONSTRUCT TWO GROUP DEVELOPER

HOUSING FINANCING

CONSTRUCTION FINANCIAL STRATEGY CLARK CONSTRUCTION EDGEMOOR DEVELOPMENT

FINFROCK SUNTRUST COMMUNITY DESIGN/BUILD HOUSING CAPITAL DANA CHESTNUT

FIFTH THIRD FINANCING HAROLD GARLOCK

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1.5 DEVELOPMENTAL PROPOSAL

The Confluence Sanctuary

The Confluence Sanctuary, a 6-story mid-rise apartment building, is located on the West side of Parramore Avenue just North of Conley Street in the historic Parramore district. The Confluence Sanctuary offers 200 units one, two and three bedroom apartments, an on-site 350-space parking garage, large interior courtyard with pool and amenities, a 5,000 square foot fitness center, 10,000 square feet of food courts, and 10,000 square feet of retail space.

Historic Parramore The Parramore Heritage Community is a diverse area of residential neighborhoods, businesses and industry west of the Downtown Orlando core. Parramore is the historic home of Orlando’s African-American community, and is on the cusp of a new surge of growth as a diverse and vibrant Downtown area. The Parramore Business District consists of historic retail Main Streets - Parramore Avenue and West Church Street. These two streets intersect in the Parramore Town Center, which covers the traditional commercial and industrial heart of Parramore along the Church Street and Central Boulevard corridors. Parramore is home of City View apartments, HD Supply, the Florida A&M University School of Law and the Federal Courthouse.

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Table of Contents

Section 1: General Housing Information Section 2: Workforce Housing Information Section 3: Financials | Exhibits Section 4: Maps | Exhibits

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Section 1: General Housing Information

The Confluence Sanctuary A Proposed 200 Unit Housing Development 730 South Parramore Avenue and Conley Street Orlando, FL 32801

PROJECT TEAM

OWNER: PARTNER: Construct Two Group City Of Orlando 30 S. Ivey Lane 400 S. Orange Avenue Orlando, Florida 32811 Orlando, Florida 32801

DEVELOPER: Design/Builder : Construct Two Group Finfrock 30 S. Ivey Lane 2400 Apopka Boulevard Orlando, Florida 32811 Apopka, Florida 32703

CONSTRUCTION MANAGER PROPERTY MANAGEMMENT: Clark Construction TBD 2502 N. Rocky Pointe Drive Tampa, Florida 33607

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Property Identification

Name: The Confluence Sanctuary

Address: 730 South Parramore Avenue Orlando, FL 32801

Location: West side of Parramore , just North of Conley Street and East of Short Avenue

Owner of Record: City Of Orlando

Site Information

Site Area: 5.01 Acres R-1 Residential

Property Zoning: Residential

Proposed Zoning: 0-2 (40 Units per Acre)

Flood Zone: Not a flood hazard area

Improvement Information

Building Type: Six Story, Building

Construction Type: Precast Concrete Structure

Year Built: Completion 2019

Unit Mix: 200 Units

One Bedroom Units 50 @ 745 sf One Bedroom Units 35 @ 790 sf One Bedroom Units 32 @ 675 sf Two Bedroom Units 63 @ 1100 sf Two Bedroom Units 20 @ 1225 sf

Parking 300 spaces Approx. 160,000 sf

Net Rentable Area: 248.268

Gross Building Area: 350.450

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WELLS LANDING

REPIAITING

LOTS 6 & 7 FIRST ADDITION TO WESTERN TERRACE, PIAT BOOK "H", PAGE 64 PARRAMORE VILIAGE, PIAT BOOK 1, PAGE 48 PARRAMORE VILIAGE - FIRST REPIAT, PIAT BOOK 1, PAGE 64 PARRAMORE VILIAGE - SECOND REPIAT, PIAT BOOK 1, PAGE 70 LOT 1, SUNCHARM SUBDMSION, PIAT BOOK 35, PAGE 80 SECTION 35, TOWNSHIP 22 SOUTH, RANGE 29 EAST, CITY OF ORLANDO, ORANGE COUN1Y, FLORIDA

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Project Amenities

FEATURES Retail and food courts Indoor garage area Outdoor cooking area Interior loading dock area Wi-Fi available in pool and amenity areas Shaded outdoor lounge area Illuminated infinity edge poolside fountain

COURTYARD FEATURES Poolside Wi-Fi + music Luxurious pool Infinity edge fountain Lush landscaping Gas grilling stations Fire pit Sectional seating and poolside lounge chairs

ECO-FRIENDLY FEATURES Live green. Save green. At The Confluence Sanctuary it's more than a tagline, it's our commitment to sustainability stewardship. The Confluence Sanctuary is among the first new buildings in Parramore to pursue LEED® certification status, raising the green building bar through innovative construction solutions and materials.

GREEN FEATURES The Confluence Sanctuary has a "cool roof" which has the ability to reflect the visible, infrared and ultraviolet wavelengths of the sun, reducing heat transfer to the surface. Mounted to the rooftop is a 200 kW solar array generating energy that supports the building's general power requirements. Solid concrete construction and efficient building systems unite to insulate The Confluence Sanctuary and reduce energy demands. Every unit includes a suite of plumbing fixtures, lighting fixtures and ENERGY STAR® appliances designed to minimize consumption and maximize energy and water savings.

PARKING FEATURES Controlled access parking garage (RFID reader) Park on per floor

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RETAIL + FOOD COURTS The Confluence Sanctuary living should maximize possibilities and minimize complications. At The Confluence Sanctuary, you can wake up in the morning, roll out of bed and head downstairs to find your perfect cup of coffee. Drop by and drop off dry cleaning. And end the day unwinding with friends with local delicacies from the food Court on the first floor. The Confluence Sanctuary will be home to relevant retailers to meet the needs of the residents.

Total of 200 / 1, 2 and 3 Bedroom Units

INTERIOR FEATURES Plank tile in living and bathrooms Expansive, panoramic windows in living and bedrooms 9'+ ceiling heights Full concrete construction for sound reduction Downtown skyline and courtyard views Apartments pre-wired for AT&T U-verse® & Bright House™ Spacious walk-in closets

KITCHEN Stainless steel appliances Deep basin under mount sinks Contemporary cabinets that open upward and extra deep pull-style drawers Granite countertops Spacious pantries with ample storage Pull out spray faucet (Integrated spray wand)

BATH Walk-in showers with glass surrounds

PROPERTY IDENTIFICATION The proposed subject development will contain 200 apartment units in an elevator apartment building containing 248,268 square feet of net rentable area. The project, which will be restricted to Multi-Use and Work Force Housing, we be situated on a 5.1- acre site situated in the historic Parramore district of incorporated Orlando, Florida.

Proposed construction will reflect a six-story, elevator apartment building of precast concrete structure. The apartment units mix will be comprised of one, two and three- bedroom units. The community building will contain management/leasing offices.

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Address: 730 South Parramore Avenue, Orlando, FL 32801 Year to be completed: 2019 Proposed Units 200 Units Estimated Average Rent Per Unit: $1,574 Estimated Average Rent PSF: $1.42 Average Unit Size (sq. ft.): 1,108 Net Rentable Area: 248,268 Total Development Cost: $40,000,000 Going-In CAP Rate: 6.65% Market CAP Rate: 5.00% Base Case IRR: 18.85%

Market:

 According to Reis’ September 23, 2014 Reis Observer report, the Orlando (Orange County) area has continued to grow unimpeded at substantial rates. According to preliminary data provided by the U.S. Bureau of Labor Statistics (BLS), total non-farm employment as of July was up 18,400 jobs (2.6%) from 12 months prior and was up 35,400 jobs (5.0%) over 24 months, with growth strong in most sectors.”  The Orlando Metropolitan Division also registered a decline in unemployment to 6.1% in June compared to 7.8% the prior year according to the BLS.  Moody’s Economy.com currently forecasts the population growth for Orange County at 28,200 persons (1.5%) for 2014, above the projected national rate.  According to Reis’ September 23, 2014 Reis Observer report describing the entire Orlando metro area, “Reis expects demand for the year as a whole to exceed same-term new supply by approximately 400 units as both supply deliveries and net absorption pick up over the remainder of the year. Sub- 4.0% vacancy currently is anticipated through 2015. Rent growth in the range 2.0% to 2.5%, roundly stated, is expected for 2013 with gains at about 3.5% on tap for next year.”  Reis’ 5 Year Forecast for asking rent growth in Orange specifically is 2.9% annually.  Reis’ 5 Year Forecast for vacancy rate in Orange specifically is 3.5% (2Q14 was 2.6%).

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PROPERTY OWNERSHIP/HISTORY The Orange County Assessor’s Office identifies the subject site as several tax parcels with the following ownerships listed:

City of Orlando Community Redevelopment Agency 400 S. Orange Ave. Orlando, Florida 32801

AREA DATA The subject property is located in within Orange County, Florida. Orange County is located in the central region of Florida and it covers an area of approximately 903 square miles. Orlando encompasses approximately 102 square miles in the northwest portion of the county (see map). The project is located in an area called Washington Shores. Washington Shores is 3 miles west of downtown Orlando. Orange County is the heart of Central Florida. With Orlando, major theme parks, UCF, International Drive, performing arts, museums, sports, parks, and much more it has a lot offer its local residents as well as the tens of thousands of people who visit this area every year. Orange County is truly one of the top vacation and wedding destinations in the world.

POPULATION The city of Orlando reflects a 2.1% increase over the ten-year period between 2000 and 2010. Orange County increased at a rate of 4.9% for the same period. During the ten- year period from 2000 to 2010 Orlando saw an increase of 2.3% annually compared to the county increase of 21.0%.

ECONOMY AND EMPLOYMENT Orange County has a heavy distribution of employment within a few sectors, while maintaining a fairly even distribution throughout the remaining areas of employment. Retail Trade along with Professional, Scientific, and Technical Services hold the largest percentage of the market with 12.1% and 11.5% respectively. Healthcare/Social Assistance and Education follow with 14.4% of the market respectively. Accommodations/Food Services and Construction both hold 18.3% of the market.

Historically, Orange County has exhibited unemployment rates that have been on par with national rates. Unemployment rates for Orange County have been relatively consistent with the national rate. The following table shows the annual unemployment rates since 2009:

2010 - 11.6 2012 - 9.5 2011 - 11.0 2013 - 7.6 2014 - 7.6

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GOVERNMENT The city of Orlando is governed via the Mayor-council system. The mayor is elected in a citywide vote. The six members of the city council are each elected from districts.

Orange County is governed by a seven-member board of commissioners, which has both legislative and executive authority within the county. The Mayor of the board is elected countywide, while the other six commissioners are elected from single-member districts.

EDUCATION Orange County Public Schools (OCPS) is the public school district for Orange County, Florida. OCPS has an enrollment of over 175,000 students, making it the 12th largest school district in the United States.

The school district also employs over 19,000 instructional and classified employees, which make up more than 96% of the OCPS work force. The district is overseen by the Orange County School Board, a body of seven elected officers, each board member sitting for a particular geographic district.

TRANSPORTATION Orange County offers an extensive transportation network that includes major highways, railways, the Orlando International Airport, and a mass transit system including the SunRail and the Lynx. Orange County is well served by many major highway systems. United States Highway 4 runs through the heart of Orlando traveling east and west and is accessed by many secondary roads. Three major toll highways serve the State Roads 408, 429, and 417 runs north to south around the county while Interstate 4.

Orlando International Airport is the closest full commercial service airport to Orlando's world-class attractions, the Orange County Convention Center. It is located six miles south of the central business district of Orlando. It is the second-busiest airport in Florida, after Miami International Airport.[4] It is the 13th-busiest airport in the United States and the 29th-busiest airport in the world by passenger traffic. The airport serves as a focus city for Southwest Airlines and JetBlue Airways. Southwest is currently the airport's largest carrier in terms of passengers traveled; in 2006, SWA carried one-fifth of MCO's passenger traffic.

RECREATION Orange County contains several parks, golf courses, walking trails, and dining attractions. Nearby Orlando offers a multitude of dining, shopping, and recreational options. The Orlando area is also home to the Disney World, Sea World, Universal Studios and Islands of Adventure. Orange County contains several parks, golf courses, walking trails, and dining attractions. Nearby Orlando offers a multitude of dining, shopping, and recreational options.

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NEIGHBORHOOD DESCRIPTION Neighborhoods may be devoted to such uses as residential and commercial. Analysis of the neighborhood in which a property is located is important due to the fact that the various economic, social, political, and physical forces that affect the neighborhood also directly influence the individual properties within it.

ACCESS/PROXIMITY The neighborhood is located within close proximity to primary traffic arteries as well as city services. Principal arteries serving the neighborhood include 408, Interstate 4, Parramore, Orange Blossom Trail, Gore Avenue, and Church Street. The subject project is located on Parramore Avenue, which represents a two-lane road extending south from Gore Avenue, approximately 400 feet South of Church Street.

There is a local bus service along Parramore Street the east side of the Lane while the inbound bus stop is located along the west side. Within the immediate subject neighborhood, there are a multitude of public and private services to include elementary, middle, and high schools, grocery stores, religious facilities, recreation areas and restaurants.

Multiple acute care facilities as well as several medical centers are located within five miles of the subject. Additionally, the neighborhood has good proximity to two Interstates providing the subject property with convenient access to the Orlando as well as the multiple attractions located in said area that include Amway Arena, Universal Studios and Sea World.

DEVELOPMENT AND LAND USE The immediate subject neighborhood is a well-residential area that is characterized by a residential development. Contiguous to the south and west sides of the subject property is the residential development of Carver Park. To the South side is an established public housing development. To the east are residential homes and local church. Approximately one-half mile West of the subject is Jones High School, located at Rio Grande , Orlando, Florida.

CONCLUSION Based upon this analysis, Orange County is an area of steady growth. The area’s per capita income levels remain approximately $538 below the nation as a whole, but have historically been higher on average. The unemployment for Orange County and state of Florida has been on par with the U.S. level. Orange County’s economy seems to be poised for future growth given its previous performance, but currently its employment level is the third lowest it has been in five years.

The immediate neighborhood represents a residential area. Due to the subject’s location within the neighborhood, most medical, retail, or recreational destinations are within a short distance. Therefore, the subject’s neighborhood provides a good environment and the appropriate services for workforce housing.

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Section 2: Workforce Housing Information

The Work Force Housing segment of the housing market is expected to flourish in the New Year. The last few months have seen the national housing market take a U-turn. There are some indicators that the worst of the housing downturn may be over.

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Footage Estimated Rents Rental Income Rent PSF

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Section 3: Financials | Exhibits

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Section 4: Maps | Exhibits

Exhibit 1

Project Site

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Exhibit 2

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Exhibit 3

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Exhibit 4

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Exhibit 5

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Exhibit 6

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Exhibit 7

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Exhibit 8

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Exhibit 9

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Exhibit 10

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Exhibit 11

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Exhibit 12

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Exhibit 13

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Exhibit 14

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Exhibit 15

Project Site

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1.6 SITE PLAN INFORMATION

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1.7 QUALITY OF DESIGN AND CONSTRUCTION

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101 Eola:

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Northview:

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1.8 CRIME PREVENTION THROUGH ENVIRONMENTAL DESIGN INFORMATION

CPTED STRATEGIES APPLICABLE TO MIXED USE HOUSING

1. SIGHT LINES AND HIDDEN SPOTS - Essential walkways through the area leading to and from bus stops, parking lots and retail areas should have clear sight lines. The lift lobby will be open and visible from the interior of the building or the street. Avoid hidden areas in corridors and stairwells. If not possible, use transparent materials or lift doors with glass windows and security mirrors to improve sight lines. The interior of a lift may need installation of surveillance cameras or an angled mirror if the entire interior area is not visible to a person about to enter.

2. OPTIMISING USE AT GROUND LEVEL - Empty space will be used for housing, commercial and community services that are complementary to the needs of the residents.

3. ACCESS TO INDIVIDUAL BUILDINGS - Entrance areas to individual buildings will be clearly visible from adjacent streets and apartments.

4. SIGNS - Street names and block numbers will be visible from the public road as well as within the development. Site maps at central locations may be located for visitors, delivery people and emergency services.

5. LIGHTING - Pedestrian walkways leading to buildings and car parks will be lit to public street standards. Lighting of common areas such as corridors, lift lobbies and stairwells should be adequate and areas of shadows should be avoided.

6. FORMAL SURVEILLANCE - Management and maintenance staff will be trained to respond to emergencies. Residents will be encouraged to report suspicious activities. Security or maintenance staff will patrol parking areas and other common areas.

7. PARKING - Parking areas and access will be visible and well lit. Visitor parking will be designated. Parking within a building will be access controlled, well lit, properly signed and preferably with formal surveillance.

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1.9 TOTAL PROJECT DEVELOPMENT COSTS AND FINANCING

Sources and Uses Property Name: The Confluence Sanctuary Sources of Funds: Construction Period 18 Months Construction and Permanent Lender $ 35,000,000.00 City Of Orlando Waiver of Impact Fees $ 1,717,659.00 City Of Orlando Waiver of permit Fees $ 525,000.00 CRA Funds $ 2,250,000.00 HOME Funds $ 507,341.00

Total Sources of Funds $ 40,000,000.00 Uses of Funds: Land $ - Land Legal (Rezoning) $ 41,449.00 Title I Recording $ 72,119.00 Construction Hard Costs $ 27,840,000.00 Structural Parking Garage $ 3,600,000.00 Construction Contingency $ 1,340,000.00 Impact Fees $ 1,717,659.00 Commitment Fee $ 152,750.00 Lender Legal $ 37,500.00 Soil Work $ 73,500.00 Constr Monitor & Inspections $ 22,000.00 Borrower Legal $ 75,000.00 Construction Period Interest $ 1,000,000.00 Accounting, Cost Cert. $ 15,700.00 Architect & Landscape Architect $ 722,103.00 Builders Risk Insurance $ 275,000.00 Construction Permits $ 525,000.00 Furnishings $ 475,000.00 Soft Cost Contingency $ 110,248.00 Planner/Engineering $ 129,000.00 Environmental $ 25,000.00 Transfer Fees $ 55,912.00 Marketing/Lease-up $ 182,200.00 Construction Period Taxes $ 90,000.00 Other $ 25,000.00 Plan, Cost Review & Survey $ 17,860.00 Development Fee & Overhead $ 1,380,000.00 Total Uses of Funds $ 40,000,000.00

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1.10 PURCHASE PRICE AND OTHER FINANCING CONSIDERATIONS

1.11 PROJECT TIMELINE Financing March, 2016 June, 2016 Design July, 2016 December, 2016 Permitting January, 2017 April, 2017 Construction May, 2017 October, 2018 Grand Opening January, 2019

1.12 PERFORMANCE GURANTEE Construct Two Group will post a performance guarantee in the form of a letter of credit, performance bond or other form acceptable to the City/CRA.

1.13 MBE/WBE Our team fully appreciates the importance and need for a comprehensive M/WBE plan on projects because of the dramatic impact to the surrounding community. The success of our program will be instrumental in assuring that a dramatic impact is made on the M/WBE community. This project provides significant opportunities for M/WBE firms during the construction of the College of Law. Our team has addressed M/WBE participation at the construction management level on many projects. We have shown a strong commitment to engaging community participation, equitably distributing work and mentoring companies and individuals to strengthen their presence in the marketplace. We have long-standing existing relationships with local subcontractors, and the trust and recognition of the local M/WBE community. A plan will be put in place to actively recruit M/WBE community involvement for the construction, not just as taxpayers, but also as working citizens. The following programs are essential to the success of our M/WBE plan: Mentorship CTG has a history of success in mentoring M/WBE participants. The best testament of our commitment and capability to mentor M/WBE companies is the success of CTG’s own growth from a small local subcontractor to the largest minority construction management firm in Florida through a mentoring program with major construction management firms. Our mentoring program includes assistance and training with marketing, estimating, cost control, and budgeting, purchasing and construction administration. Technical Assistance CTG is experienced in administering programs to assist M/WBE firms with estimating, bidding, scheduling and mitigation of problems. We also have an excellent working relationship with the local M/WBE community.

Financial Assistance Our team will strive to attain potential M/WBE participation in all project phases. Initially, we will structure the trade packages and general conditions work to encourage accessibility to all interested M/WBE firms and attract

PARRAMORE REDEVELOPMENT OPPORTUNITY participation at all work levels. We will assist interested M/WBE firms in estimating the work and develop bond and insurance assistance programs where required. In addition, we will jointly check material payments with lower tier suppliers to encourage participation through potential M/WBE companies. Most importantly, we will partner with all M/WBE entities during their estimating to utilize our buying power for materials, ensuring that the M/WBE firms are receiving the most competitive pricing and to establish relationships that will bolster their companies in the future.

MBE Examples University of Central Florida Residence Hall Orlando, FL The Residence Hall facility project successfully recruited minorities for positions in estimating, accounting, project management and other support staff positions. Prior to the bidding stage, advertisements were printed in the Orlando Sentinel and other minority publications seeking qualified minority firms to submit bids. Using our database, we mailed notices and Invitations to Bid to over 150 M/WBE firms in the state of Florida. We conducted a community awareness workshop through the local Minority Business Alliance to solicit further interest among minority businesses. The University’s goal for this project was 20 percent and we successfully exceeded this goal with 33 percent M/WBE participation.

Orange County Public Schools Chain of Lakes Middle School Orlando, FL The high level of MBE participation was achieved because we were able to package contracts in such a way as to make it affordable for minority companies to bid and handle the work.

We initiated two outreach meetings for all local MBE subcontractors. We held the meetings outside normal working hours, provided refreshments and described the scope of the project in detail. We proactively advertised to generate interest and initiated a calling campaign to subcontractors on our approved registry. We encouraged other potential firms to register to ensure their eligibility to participate.

Walt Disney World Pleasure Island, BET SoundStage Club Orlando, FL CTG exceeded Walt Disney World’s MBE goals for this renovation and additions project by actively encouraging minority, women and small business entities to bid on all scopes of work. These efforts paid off and we secured a 36 percent M/WBE participation.

1.14 LIVING WAGE

Construct Two Group agrees to comply with living wage policies as set forth by the State of Florida, Orange County and the City of Orlando.

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1.15 INVESTIGATION AND LITIGTION

Neither the Developer nor any member of Developer’s team, has not within the last ten (10) years, been the subject of an investigation conducted by a regulatory or professional licensing board. The Developer or any member of Developer’s team, has not within the last ten (10) years been in legal or arbitration proceeding as a result of their professional actions or omissions, or been suspended or debarred from working with a public agency as a result of their professional actions or omissions, and give the details of such proceeding or suspension/debarment.

1.16 EXCEPTIONS