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HomeMy WebLinkAbout20040708Carlise Direct.pdfpr: "" l\/; "t. . ".,. ' I, F. t L" ill lOu l u - 6 Pl~1 \: 5 I) .,. till t ' , \~... ( ; T \ q. \ r~ ~) ~:". ~i:g S \ ONii.li't..-.J V....J BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION IDAHO POWER COMPANY Respondent. Case No. IPC-04-Complainant vs. CITY OF EAGLE, IDAHO EAGLE RIVER, LLC Applicant for Intervention. Direct Testimony of Charles Carlise On Behalf of Eagle River, LLC July 8, 2004 Please state your name and address. My name is Charles Carlise. I am the Managing Partner for the Eagle River Development located in Eagle , Idaho. The address is 485 East Riverside Drive, Eagle , Idaho 83616. What is the purpose of your testimony in these proceedings? Eagle River is a premier mixed-use commercial development located at the intersection of Eagle Road and State Highway 44. If Idaho Power Company is permitted to construct the 138 kV transmission line along State Highway 44 (the Eagle Bypass), the transmission line will be directly adjacent to Eagle River s property and will cause substantial and irreparable economic injury to our Development. I am testifying to describe the impacts and detrimental effects that Idaho Power Company s proposed transmission line will cause to Eagle River, the City of Eagle, and the surrounding area. I am also testifying to explain how Eagle River was developed in strict accordance with the City of Eagle s Comprehensive Plan and the Development Agreement between the City and Eagle River, and how, if Idaho Power Company s transmission line is constructed as proposed, Eagle River s reliance upon the City of Eagle development plan and the considerable costs incurred to satisfy the City of Eagle s requirements will have been utterly wasted. Finally, I am testifying to explain how Idaho Power Company failed to notify Eagle River of its plan to construct the 138 k V transmission line and how Idaho Power Company acted in bad faith when it agreed to bury one of its power lines along Eagle Road to protect the aesthetic of our Development, while at the same time it Carlise, Di Eagle River, LLC was planning to construct a larger transmission line along the entire mile of our frontage along the Eagle Bypass. In sum , I am testifying to voice our objection to the construction of the transmission line as proposed by Idaho Power Company. Would you describe the Eagle River Development. The Eagle River Development is a unique high-end commercial development located on the southeast corner of Eagle Road and the Eagle Bypass. The Development, which is also known as Eagle River consists of approximately 90 acres of land that is bounded on the south side by the North Channel of the Boise River and on the north by the Eagle Bypass. The Eagle River Development began with a vision of creating a premier mixed-use community that would take advantage of the natural environment of its river front setting and tie in with the City of Eagle development plan for a distinctive rural town setting. The Eagle River site was specifically chosen for several reasons, including its river frontage and natural aesthetics and its prime location within the City of Eagle, which in and of itself is one of the most desirable locations within the Treasure Valley. The site was also chosen because the property is located at the gateway to Meridian, Emmett, Star, Horseshoe Bend and McCall. In addition to the prime physical location of the property, we also favored locating our development within the City of Eagle because of the City s high standards for development. It has been our experience that communities with high standards for development are better able to attract quality businesses and a high-end demographic of customers and visitors Carlise, Di Eagle River, LLC which in turn results in higher land values and a more profitable development. The City of Eagle recognizes the important connection between the enforcement of exacting development standards and resulting heightened quality of development within a community, and it is one of the reasons why Eagle River and its parent company tend to purchase and develop in areas like Eagle. Once we decided on the location for the Development, we then began an extensive planning and design phase. That phase took years of planning and thousands of hours of work and coordination with the City of Eagle to ensure that the Eagle River Development would promote the development objectives of the City. In order to create the caliber of development that Eagle River has now become, more than $7.8 million dollars has been spent. By way of illustration, Eagle River has invested the following amounts in site improvements for the Development: Engineering/ Archi tecturallP ermi $ 878 326. 388 631.Electric Water/Gas Systems Irrigation System/Canal Relocation 178 664. 844 402. Roads 859 699. 438 178.Storm Drainage/Sanitary Sewer Ponds/F ountains/W aterfalls 801 936. 506 685.Landsca ping/T re e s/L i ghting Sidewalks/Bike Paths 119 322. 211 176.Traffic Signal Lighting Carlise , Di Eagle River, LLC Taxes/Construction Management/LegallMisc.622.617. $ 7 847 651.71TOT AL At its full build out, the Development will consist of approximately 000 000 square feet of mixed-use commercial space, with the commercial uses being distributed between an Office Building Component of approximately 600 000 square feet, an Ambulatory Care Facility with Medical Offices of approximately 90 000 square feet, a 144-room Hotel with related meeting facilities totaling 135 000 square feet, and a Retail Component of approximately 200 000 square feet. The Retail Component is being developed along the western and northern part of the property to take advantage of its exposure to Eagle Road and the Eagle Bypass. This portion of the Development is designed as a Lifestyle Retail Center" that will focus on up-scale tenants in a pleasing setting in order to focus upon the high-end demographic market of Eagle. currently planned, the Retail Component will have at least ten restaurants with indoor and outdoor dining and at least twenty-five stores. The Office Building Component when completed will consist of approximately 600 000 square feet of a mix of one- and two-story, first class professional and medical offices. The offices will be situated in a garden setting with exposure to the Boise River, pond frontage , walking paths, bike paths , beautiful roads , all which are landscaped with planted medians, mature trees and flowers. The remaining building area consists of the river front Hilton Garden Inn. The Hilton currently has 99 rooms and is in the process of completing the final building plans that will expand its capacity to a total of Carlise, Di Eagle River, LLC 144 rooms. The expansion will also include a convention meeting area that will accommodate more than 600 people. The development as a whole has a variety of amenities such as over 500 feet of Boise River frontage, a river front greenbelt, integrated pathways and bike paths, six large ponds , three waterfall entry features fountains and water features , mature landscaping, vintage street lighting along all roads , and approximately 25% of its property dedicated to open space. And significant to this case, all utilities have been buried , including Eagle River s payment of more than $100 000 to Idaho Power Company to bury its power line along Eagle Road. All of this effort was made to make Eagle River an attractive, up- scale commercial center within the City of Eagle, and I believe our efforts have been a success. I have attached a copy of materials about Eagle River as Exhibit 201. What are some of the businesses currently located at Eagle River? Eagle River is still in the early stages of its development with the full build out to be completed within the next ten years. To date several sites have been sold and businesses constructed. Among the businesses that are currently located in Eagle River include, Hilton Garden Inn, Land Group, Wendy , Westmark Credit Union, Eagle River I , Bardenay Restaurant, and the Riverside Office Building I. The Eagle River Development is continuing to grow. completed five sales transactions in 2003 and have fifteen scheduled for 2004. Several businesses will begin building construction within the next Carlise , Di Eagle River, LLC year, including St. Alphonsus Regional Medical Center, Home Federal Savings, Eagle River II , and Riverside Office Building II. In addition to the actual development of property within the City of Eagle, does Eagle River bring any other benefits to the City and the surrounding area? Yes, in several regards. First, the Eagle River Development is designed to be an employment center that will bring several thousand jobs to the City of Eagle and the surrounding community. As noted above, at completion Eagle River will encompass approximately 1 million square feet of commercial development space. The Development will employ one person for every 100 square feet of space, which translates to approximately 10 000 jobs. The creation of employment opportunities and a solid job-base is important for the City of Eagle and the surrounding areas and it is one of the many goals of the Eagle River Development. Additionally, the type of jobs that the Development will bring to the area are solid, quality jobs that will benefit the community. Because Eagle River is creating opportunities for office and retail businesses, it has been able to , and will continue to, attract medical personnel and staff, as well as other professional jobs such as banking, mortgage business, and other office jobs. In addition, the Retail Component of the Development will offer retail and restaurant jobs. Next, because of the quality of the Eagle River Development, the property values within the Development have increased. Presently the land values at Eagle River range between $9.50 to $17.00 per square foot. These high land values translate into a higher tax base for the City of Eagle, which Carlise , Di Eagle River, LLC in turn results in higher property tax revenues. Finally, the Eagle River Development will benefit the community by providing opportunities for additional tax revenues in the form of retail sales. The Retail Component of the Development is designed to accommodate at least twenty-five retail stores. At a standard rate of $300 of gross sales per square foot for the approximately 200 000 square feet of retail space , the Retail Component of the Development will produce approximately $60 000 000 in retail sales , which at a sale tax rate of 6% totals approximately $3.6 million in additional sales tax revenue. The benefits that will result from a successful development at Eagle River will be felt beyond the borders of our Development. It will extend to the City, the surrounding areas and to the state as a whole. Did the City of Eagle impose any requirements on the Eagle River Development? Yes. The City of Eagle has very exacting development standards, and it was very strict in enforcing those standards for the Eagle River Development. Consistent with its Comprehensive Plan and its designation of the Eagle Bypass corridor as a scenic area, the City required that Eagle River enter into a Development Agreement, which set forth the standards for our development. I have attached a copy of the Development Agreement as Exhibit 202. Under that Agreement, the Eagle River Development was required to be constructed "in harmony with the existing community.(Exhibit 202 Development Agreement , p. l). The Agreement further required Eagle River to: Carlise, Di Eagle River, LLC Provide a public easement for a greenbelt pathway; (Exhibit 202 , Development Agreement, p. 7). Provide on-site , tree-lined landscaped strip along State Highway 44 and Riverside Driver (Id. Provide a ten-foot wide bicycle/pedestrian pathway within the landscaped strip (Id. Provide a minimum 28 000 square foot on-site landscaped area at the corner of State Highway 44 and Eagle Road (Id. Provide public art, water features , or other features of interest (Id., p. 8); Provide pedestrian amenities which encourage pedestrian use (i., outdoor drinking fountains, benches , tables, etc.) (Id. And the list goes on and on. The purpose for these development requirements is perhaps best stated in the Development Agreement itself: The Purpose of the Design Guidelines is to provide an aesthetic roadmap for the development of the Eagle River project within the highly visible and scenic city of Eagle/Boise River context." (Id., Design Guidelines, p. 1). The Development Agreement further provides that: The intent of the Design Guidelines is to provide a harmonious and integrated development of commercial and residential buildings sharing common streets, trails , wetlands, and open spaces. The general theme of the City of Eagle is to emphasize Northwest, turn of the 19th Century, architectural styles and appropriate materials." (Id. Eagle River is committed to meet, if not exceed these goals , for the Carlise, Di Eagle River, LLC purpose of creating a pleasing, premium quality development that enhances the Eagle community and for economic benefits that will result from such a development. Could the Eagle River Development have been constructed without meeting those requirements? No. The Development Agreement was a requirement for the Eagle River Development, as it is for other developments within the City of Eagle. One of the important considerations for Eagle River in creating its development was the fact that the City of Eagle was serious about its development requirements, its development ordinances and its Comprehensive Plan. What that meant to us was that not only would Eagle River be subject to the City s high standards for development, but other developers would be as well. Eagle River relied upon the City of Eagle strict enforcement of its development standards so that all developments would have the same themes, aesthetic and meet the same design goals as Eagle River. How did Eagle River learn about Idaho Power Company s proposal to construct a 138 kV transmission line along the Eagle Bypass corridor? We found out about the proposal almost by accident. One of our employees was at the City of Eagle Sewer Office when he saw a copy of a notice of a Planning & Zoning Commission meeting where the Idaho Power Company s proposed line was to be discussed. The news was surprising to us, since Eagle River had been working closely with Idaho Power Company to have the company bury one of its power lines-at Eagle Carlise, Di Eagle River, LLC River s expense-in order to protect our Development from these unsightly overhead lines. It seemed incredible that we had paid Idaho Power Company to bury these lines, when at the same time the company was planning and moving forward with a proposal to construct a much larger transmission line along the entire length of Eagle River s property on the north. All of this occurred without any communication to us by Idaho Power. Upon discovering the information about the hearing, we contacted Layne Dodson at Idaho Power Company and met with him to discover why Eagle River was not informed about the transmission line. Through that meeting, we learned that we were not notified of the meetings-despite our prior interactions with Idaho Power Company and despite our owning property right next to the proposed line-because Idaho Power Company only mailed notices to owners who had an Eagle zip code. How will the transmission line affect Eagle River? The construction of an overhead 138 kV transmission line along the entire mile-long northern boundary of the Eagle River property will have significant detrimental effects to our development. Because so much of our Development focuses on the aesthetic, natural environs , the transmission line will severely impact that aspect of what we have created with Eagle River. In concrete terms , what this means is that with the 70- foot towers that are proposed for the transmission line , along with the tangle of overhead wires, the Eagle River Development will be degraded to the point that land values will fall and building standards will be forced down. Instead of a premium, high quality development, the Eagle River Development will be reduced to a more average quality development, with Carlise, Di Eagle River, LLC much less desirability and appeal to the high-end businesses and customers Eagle River is seeking to attract. Eagle River would then have more industrial-type uses, rather than general office/medical office uses. Additionally, the Retail Component of the Development would be diminished because high-end retail will not locate in the project as a result of its more industrial appearance. As a result, the Eagle River Development will suffer lower land values with a lesser quality of development. The Development build-out period will be delayed, there will be a loss of leverage for Eagle River to realize its plan for the development, and we will have lost the investment of the cost and expense of the high-end amenities which we incorporated into our Development. And Eagle River will have lost out on our reliance upon the City of Eagle s development plan, Comprehensive Plan, and Development Agreement, as well as our future plans for the Eagle River Development. Will the impacts to the Eagle River Development that you described above have affects beyond your property? Yes. As a result of the lower land values that will be realized from a more industrial-type development, the City will loose a portion of its property tax base. In addition, the Development will not attract the same type or quantity of employment opportunities , and therefore the City will lose out on these benefits as well. And finally, because the Development will be unable to support the Retail Component, the City and State will lose the sales tax revenues that it would have otherwise enjoyed. As noted above , the detrimental effects of Idaho Power Company transmission line will not only be substantial , they will reach far beyond the Carlise, Di Eagle River, LLC borders of our Development. Are you aware that Idaho Power Company previously requested approval from the City of Eagle to construct the 138 kV transmission line? Yes. Before filing its complaint with the Idaho Public Utilities Commission, Idaho Power Company first sought permission from the City of Eagle to construct is transmission line through the City. Eagle River was involved in that process as a landowner affected by the proposed transmission line. Eagle River objected to the proposed line at every stage of the process and explained how it would be adversely impacted by the line. Ultimately, the City of Eagle rejected Idaho Power Company s request. Is there anything else that you would like to add to your testimony? Just that, Eagle River is adamantly opposed to the proposed 138 k V transmission line. It will drastically alter the Eagle Bypass corridor and will have substantial adverse impacts on the Eagle River Development and other developments along its path. In addition, it is our understanding that there exists reliable technology that would not require Idaho Power Company to construct the massive 138 kV poles and lines and that would not cost any more than Idaho Power Company s current proposal to construct the lines along the Eagle Bypass. It is also our understanding that this technology is currently in use in a number of other communities and that Idaho Power Company failed to consider any similar alternatives in its analysis of its current proposal. fact, Eagle River in conjunction with the City of Eagle specifically asked Carlise , Di Eagle River, LLC Idaho Power Company whether there were any alternatives that would mitigate the injury that would be caused as a result of the construction of the 138 kV transmission line. And to my knowledge, Idaho Power Company did not consider alternative technologies as a means of mitigating the impacts of its transmission line. Eagle River respectfully requests that the Commission deny Idaho Power Company s request to construct an overhead 138 kV transmission line within the right of way for the Eagle Bypass as proposed. Eagle River also requests that if alternative technologies that were not considered by Idaho Power Company are available, those alternatives should be considered as a reasonable resolution and accommodation to all landowners who will be affected by the proposed transmission line, the City of Eagle and Idaho Power Company. Does this conclude your direct testimony? Yes , it does. 3251403 2.DOC Carlise, Di Eagle River, LLC ,'. '" ".':(:,: ,, ", ' , ,~ ' r ~ - , ' " ,;' , ,~' , ~ ' ' . ", ' I, :,.,I :~:"" ', ,..;/' , i :- ,, ! '' ,: " 'ri.. (/..,....,,, ," ,' "' ' .. 'l - .. :'" " ,~ ' , v, ' ", ,: ,-,,' , ', ,, '.. ,, , IDAH OiS 'PREMIER:BUSIN.-ESS'DItESS , ' " ,' ," ,'- r " " " ', " , " "" "' , Exhib!tNo.20r' Case-No::IPC~04-04 ~lia~l~s Carl~~e;E~gl River ~LC; page l-of9 " ", , 10... " ", ," ," ', ,, -, :, ,, '" .-', , ~ I , ;, "" ,, .., ," ," "" ,, :', '' ,. ,. '--y" ',,", ,,' ",,!', ,.. , , r " ,, ,, ', -- ' "" "\ ' "t' , ,, "- ,, ,, ,, "' ,. '" ".... -- ,, ,: ", ", ... ', " . ,SITE PLAN ' ...: i . ..'.. ,'- ", , ," '..", , .-! ,~)):':;::\?';" "" '..,":~" ";"', ': ," ,';' ', ': ~;'" .- i" ;' " '::'."' :" ': '.. : ":, '" ', ,:' '::' ';' -, '':' " ",' ," ,, "- ," ,,:-::'" ""':'" ," ,'" ," ', '::'' '" ,, ", '-, '" .., ",. ', "...."",.."" ,' '" "' '. " RETAILPR.I(J~SHEET i , , ....'. '...'.:,:' ' '' '. ", '' ," '.. ", '' ," " ,, ,' ", ', " , -, ' OFFICE PRICE SHEET ' ," ", " ' ". ", '", ', ,,' , :0; :.",--:/,:' ", " " -",c, : ," '.. , - , ,:,,,:: ', '; ,:;:?'\~\:~;:" ,,"'-':',, , :e- ' ". ". -., ..' "-, , ," ", '" -.' , ' ' , , , ' , ' ", ' ",' , ," '.' LOCATOR MAP , :....,, '" ',':,' ,,':,: ""':"" .., .. ' ~::c' i:;: , ,," ", ,, '' ,, '- ," ," " AERIAL " "" ,' ' '' ';, " , " ~' "" ' " ,'" . '' "' ,, '," ',', ,,:,,- " ,'-- ,':' " ,' ~ '..:" , ,: ': ,::,,; "', ':" , " i ' , ,, ,, ,: ': :/:- ,, ", ,, "' ", , c :::' , " .", ,; ", ,',, ", ", :.. ;.... ,::, "-.. ", ..,, ,, ,: '", - , ,' ' ': ' "' :", ,, ", ", ,, .- '..:, " , -'ro, ' ", , ,, '::' " ;," "" '' ' ", ' " ", ' "' '" " " ,' , ' " ' , " " , ,, .. ' ," ,,, ' FACT SHEET ' . ..' ," "..,.. , ,, ', ' ' .. E.agle:Rlver I DAI-IO'S PREMIER BU SINES S 0 DR E S S Exhibit No. 201 Case No. IPC-04- Charles Carlise , Eagle River, LLC Page 2 of 9 , , " ,, ", ," "..' SITE PLAN ...'. ....' /.....'. "..,, "" ", ", "" ,' '' '' ," ,, ,' ,, , "'" " '.. ,, ,' "' ..", :"" '" "'-'" ':' ", ,, ,' ,, ";;' ', ,.. ,,, , :tlxhiblf-No,201'" ~~:e~;N()ipc~~~O4:~O4 " ' Cli~rles ~(ir1is~"EagleRi,,er,;,LLC r~$e of? " ', ,.""," ': ".. , '.' ''" ,." ." " 0 , ",' "" ', ', ", .." ".' .", " , I , ", ', .., ,,' Pad No. Lot Area Bldg. SF Parking Ratio $ Price Price Per SF User Type 1.29 acre 097 SF BarDEnay 00/1000 L D Restaurant 96 acre 128 868 SF Hilton Garden Inn xx/l000 L D Hotel 97 acre 047 SF 200 SF 67/1000 746 334.$17.Restaurant 92 acre 135 SF WA Trust Bank 00/1 000 L D Financial P5a 64 acre 821 SF 500 SF 36/1000 $ 445 136.$16.Retail P5b 63 acre 27 ,380 SF 500 SF 73/1 000 438 080.$16.Bank P5c 56 acre 24,450 SF 000 SF 66/1000 342 300.00'$14.Restaurant 89 acre 880 SF Under Contract . 13.77/1000 PEND IN G Restaurant . P7 82 acre 778 SF Westmark Credit 5~00/1 000 L D Financial 52 acre 206 SF 460 SF 00/iooo ' $ . 943 435.$14.Retail 68 acre 116 693 SF 000 SF 24/1000 166 930.$10.Retail PIO 46 acre 237 612 SF 000 SF 80/1000 673 135.$11.25 Retail Pl1 04 acre 063 SF 000 SF 00/1000 $1 ;380 476.$15.Retail P28 70 acre 660 SF 400 SF 66/1000 398 580.$13.Restaurant Exhibit No. 201 Updated Febmary 2004 Case No. IPC-04-04 Charles Carlise, Eagle River, LLC Page 4 of 9 i """()~FIGE PRICE..SHEEt .. ".., "."'..... , . " .'., :"", "" ,' "" ", ," ,, ", ", ", ,' ", ', ", ' 1 ~, ~~~,~~ .: , ?~9~13 .o.o 16 '80.0 SF , , $494,692..00 , ,' ,;" , 18 2.o.oSF ":$6:?5 6.o.o.5:.o.oO.oSF" , , $406 417..0.0, 22j~F ,35!lOOO $7~6 806. 2~.o I.o1~QQO , ,~381 7~~~.o.o, ' 5.o(),S~, , , .0.011.0.0.0' '$49.o 390 .oO : , ' .074 ~F 18 50.0 SF 4..0.0/10.00 '$432 666..0.0 , '" ,, " "' ,, ', ' , 914 SF ,.0.0.0 ,SF' '3611.0.0.0 '$3?5 226..oQ 695 SF ,,.oO.o SF 4 6411.0.0.0 , ' $71'0 797.5.0 ' . ' St. Mpho nsus Regio Medical Center ' , ", , M~cal Center / Land GrOup ,2811.oQQ , , S 0 815 SF '" 9,~O4SF " 4 731l000 '~ V AILABLE FOR LEASE Office* , ' , 23.0 SF : ,~~, QSF "1511.o~.o' ,$674,76.o.~O ,$12..0.0 Office** , : " 4~,883~F .. , ~~.o~SF ' " 5.o11.o~O' '$6t3 .o.o ,$12..0.0 , , Office **, , 22 168 SF '2.o0SF , ' ' 4~Q~llQQ.o 848..o0 ' ' $II~Q.o ,Offi I~,~.o.o SF 4..o.oIiQQQ $6.09 411..00 " $11 .0.0 'Office ' 6l)0 SF , 4.00(1000 $30~:760.00 , ' $10.00 ,Office 6.0.0 SF" ,~llQQO :.. , ~~Q 54~~QQ '$IQ. " ' . O~ce i50SF 00/1000 $48~.713.50 '$11.50 Office 7~6.o.oSF , , .00110.0.0 ,$332~Q~L()O:$IQ~5Q "Office' Rive~deOffi.ce 4~.oQl1 .0.0.0 A V AILABLE FOR LEASE " ....' " " 44 972 SF ' , '" , ' 487 SF 36 947 SF " ' ,, , ,,, ' 331 SF , ,, , '' '.. 34,7.0.0 SF, " " .' 5~,62Q SF , ' ", " , ,::: ,:16:'L4t~ere ; , PI7 Q.8.o'acre ' ", " :Pl 19~c , ,.., ' ", '~~: "p2Q Qfacre .... 6~25.oSF 14,4.0.0 Sf ' " , 5 25() SF ' " '' ", ::, "~ ' :I!:JdstingOffi ~iJdi.ig , for SaI~' ~r 'Lea~e " - ", "', "" "' ,, '" ,,.. , "" ,...." ', ,, ,... , ,.. '" ', ' QQliQQQ $325 '116..00' ... , ,, ,, , , ', " .0.0/10.0.0, ,$44 797..0.0 , " " , 4.Q~11 ~QQ, ~ $389 287..5.0 .0/.1.0.0.0 $31 651.5.0 Q~Qll .0.0.0 , "$~~~, 522.~.o 0QllQQQ '$~2 -,~87.5.o .0.011 O~Q "$~7~,~7?5 OO 00/1.0.0.0 '$377,3.00.00' 4~OOIlQQ() '$793 05.0..00 , , Office, "" ," ', , Office Office; " * *Not 1n~I ding Parking L~t, Lightlng,andL~dstapitlg , ,," .,' , Updated January 13, 2004': Exhibit No. 201 Case No. IPC-04- Charles Carlise, Eagle River, LLC Page 5, of 9 Eagle Riyeris a ninety-acre mixed-use deve~:o~rnenllocated in'the city of Ea~le at.the southeast comer ,of the intei-sec6()11 of Eagle, Roa4 and Sta~e, , . igh\yar 44.' l~e ~llysituated on the :' Boi~yRiv~r! tl1is ,busin~sS development " " ofexceptional quality is 'centered in: ' " ~:~~i $e:tt~tfe"~;:i7~~, , , - av~i I~biIity ~il1 'in91ti~e l~O ()OO - , - sq~~~eJe~t'~rupscaI~' n~tail ~pac:e, 'a- ' hot~.l; -fi.~an~j ~I' :,ins~itl1tions. ' '' ' r~~ta~11ln~~~ and ~~~ ,"A'~~spac ;~~, , Chara~terized:1jY:di~ti~ctiv~ d~~e?~t~~jv~ Iaridscapi~g'ti~ique' , , : ~t;~:~'tuE~~I(~i~:~a~~e :~tt . '. hn(\iri9~s~upstale enVironm~nt for it$;- foi,constiudion iiicludingfamily~ ()n~nt~~i~bt~'~k'~' lui1ch'-~I1d,4iriilei , :- -' - - ,' - ' i" ,"-" "- -, ,,.. ',- ,..' --, - establishinentS~:;I)llb~ and~hi g~~. ~ qJalit)i'~itiri~;'-hou~~ ~:')~~gj~ ' ~i"e ~/ ;~:ti~~i ~:j ~~tJi:':~~!;V ~:~ :..' -- :' . staiidi ng a~chor bui Idings i ~di yiduaL,' c '; p~d ~lt~s~:o~~~m~Il:s~rip'sp'a~es:" ,."" "..," '' " t~~~1~1*s~~~~th;!I~~;~= , " thesurrounding cornrmi~,io/-;:Eagle RiveralsoproViges ~vari~ty9f~ccupimcy option's for officeusers;inc~uding parcels: ~~ ~ifferirig 'sizes ~:a locati6n~ ay~~l~blef?r sat ~~n ~s ~~~.l~i id'bu.iltfo~~al~orlease. . ." ,' "" '.' '" '' ~. ,:- "" '. '' , A ~ :J,eo ~~ & J 0 flOagl~~Ne , t h~(3 ;ossn:~nProl'~rty' co~~ny has devote di tsc.i osi d e ~ ~ i eex perti~e t ~ tl1~~u ccc~s6 f~hi$ to~"'f. ~ ~- i iri~ ' " , '; ;' :: ' ~~vel.op~ent.:-: This xtr~~elY" ~apab Ie property:' gcvel bper~ o\Z~~t ~rt~rnanager has a'naiionalr~p~tati()rtfo " s~ccessf~l dlsiirtctlv " ,. , dev~lopm~ntan'dred iC?PTrle~tp:~6Jectsiri' th e West~rh Uillted St~tes': they'are able create anbpportimityin EagIe Rt~~r i4'~eetthe ' " )o~t~pancy:'n~e 6fat~osiariybusines ~:,: , " d" " ,' ", -:'-::: ", ":--- -';",:,' "''--;- ...-,." "'- ""- ,-,' ,,,- -- -, '- -.. ;, -,- "- " '" -. - - - I ~J McMILLAN RD.Bois~ReseaiY:h ~ /'- USTICK RD. I1: FAlRVIEW AVE- Owsroods CeRtU 1---. .-L R.c. Wdle.1 St. Luke;; Medlial . :,,.. , -- ,. , Exhibit No. 201 Case No. IPC-04- Charles Carlise , Eagle River, LLC Page 6 of 9 " "..., ' ....."..", ", ., ' " "' :"' ,, '' " . ' ', " , "" ". ' .' " ' . ., "" ".. ', ," ,':"" ', ,, ' 0 RIVERSIDE BUILDING G LAND GROUP BUILDING G EAGLE,RIVER BUILDING SAINT ALPHONSUS REGIONAL MED I CAL CENTER BARDENAY , ,," ... , Exhibit No. 201 Case No. IPC- E-O4- Charles Carlise, Eagle River, LLC Page 7 of 9 ..'..'....""....."..'.."..., \ ....", "..'..'..,..'.' ' c, .. " ', " ", ' ' ," ", ,. .". '' ", ', .'" ' "" ." ,, '' ". ', ' ' " , ,' , , " ,, '.., . ..' "', . '. " ,, '' ';, .. ~(J,:gle l? ver' , ," ,' '.. .. , ', ' IDAHO,S P:REMl'ER SINESS A DDRESS: " ', ', ", ,- ', , ,.. ', "" ~, TREAsuREY ALLEV'PREMIERBUsiNESS ADDRESS MIXEb.V~ED EVELOPMENT INC~ ~D~ GA Hn. TON HOTEL OFF! CES . RETAIL SH 0 PS B ANKS , AND REST A ~ANTS " "" ", ,' , ..,' ".. ' ,, ~, 9~"AcRE :DEVi~oPMEN:r.' LOCATEDAT THE SEC 'OF EA~LE ROAD AND, Hwy., 4 (EAGLE BYPASS) ON TIlE ()ISE RrVE " '" "" ,,, ,, '' ' r' ' , " : HIGH ~ISIBIU'fY INTERSECTION WITll'TRAFFIC COUNTS ~F50'OOO (AI)T) , AUT()MOBILES, PER DAY , ' ,,' ,, ', ,, , ' :, ': ' , ,,' ', "' , EXCELLENrINGRESS AND ' EGRESS TO AND FROMTHE PROPERTYAND ACCESS 'TO ALL AREAS .. ', , AMENITIES~NC~UDE A HIGH QU:ALITYEN:vIRONMENTWITH DRAMATICENTRIE WATER FEATURE$, COMMUNITY, , , PARK'ACCESSTOBoiSERIVER, : ," "" :' ,'" t , ." ' ..' " ~ EXPERIE~CED CAPABLE QUALITY DEVELOPER WITH ABILITY T~ TAILOR OP~ORTUNITY TO THE NEEDS OF THE USER " ': "" '' ' ~' , SURROUNDING AREA' HAs ONE O E THE HIGHEST :INCOME .LEVELS IN THE TREASURE 'y ALLEY SAINiAL~HO~SUS REGIONALM~DICALCENTERAMBULATORY CARE FACILITY TO BE BUILT IN THE CENTER OF THE PROJECT " '' ,, " Exhibit No. 201 Case No. IPC-O4- Charles Carlise, Eagle River, LLC Page 8 of 9 Exhibit No. 201 Case No. IPC-04- Charles Carlise, Eagle River, LLC Page 9 of 9 DEVELOPMENT AGREEMENT Between City of Eagle and Eagle River, LLC January 25 , 2000 BOUND REPORT SEE CASE FILE Exhibit No. 202 Case No. IPC-04- Charles Carlise , Eagle River , LLC