Kiley Ranch Update March 2008

1. Kiley Ranch Update March 2008

2. History: Since 1929 Kiley Ranch has been the family homestead, where the Kiley’s lived, worked and played most of their lives. The Kiley family’s wish is to leave a legacy to the residents of Sparks with the creation of the Kiley Ranch Master Planned Community. The Kiley’s are here to stay, local, and want to ensure that Kiley Ranch leaves a positive and lasting impact on the region for generations to come. The City of Sparks has both embraced the vision, and has been a supportive partner as the “Ranch” unfolds.

3. Contributions to the Region: Master planned communities must serve as the example for growth in our region. Kiley Ranch borrows from the traditional and timeless American past. Growth in America was influenced by the advent of the automobile, abundance of land, and cheap fuel.

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5. Preservation of the wildlife wetlands. Kiley Ranch contributes to the success of the valley through economic and environmental sustainability.

6. Our Progress: Completed the first phase with 5 residential neighbors, two of which are completed and leasing, and one still under construction. The downturn in the residential market has put the other two on hold.

7. Completed road improvements to Sparks Blvd., Henry Orr, and Kiley Parkway (including KP West, a new exit off of Pyramid Way). Opened a $2 million Welcome Center that serves not just the development but provides a place for community events on a regular basis.

8. Mass grading of the ranch has been completed, readying the development for the retail and business park phases. Engineering of Lou’s Loop (upgrades to Pyramid Way and construction of David Allen Parkway and the first portion of Lazy 5 Parkway) is complete and construction will begin soon. The Orr Ditch Linear Park design is nearly complete. (This will adjoin DAP)

9. Plans are underway for apartments on the West Side of Pyramid Way at Sparks/Highland Ranch Pkwy) Negotiations are underway with a major church and several other users. Formation of a non-profit organization to manage the Kiley Ranch Wildlife Wetlands preserve.

11. Challenges:We are at a critical juncture in the development The Kiley Family has made a significant investment. Residential market is nearly shut down, launched into the commercial and business park development. Competitive landscape has seen partially subsidized non-competitive offers which compromised the retail portion of the development. Our retail partner is aggressively investigating other opportunities. The Retail and Town centers are key to the development of a true live, work, shop, play community and current activities could put the concept in jeopardy. Business park brokers and planners have expressed to us that retail is a very attractive amenity to a major business park.

12. Summary Master planned communities that incorporate live, work, shop and play philosophy are essential to preserving our way of life. Tough financial times offer challenges to any plan. It’s important to maintain a competitive landscape with fair and ethical business practices.

13. Kiley Ranch will be the “Finest Master Planned Community” in our region