January Update on Woodholme Country Club Land Sale

Tuesday, January 8, 2019 JANUARY UPDATE ON WOODHOLME COUNTRY CLUB LAND SALE FROM THE REAL ESTATE COMMITTEE We are happy to report that the land sale is moving ahead on schedule and all of the parties are working hard to meet the original schedule of 10-14 months. We obtained approval of the lot line adjustment in record time and the appeal period has expired. Contract – During this time period, we completed one simple amendment to the Contract switching the Escrow Agent to a new title company at Lennar's request. Consultants – the following team of consultants continue to work on the project – no new consultants added recently – Civil engineer and land planning – D.S. Thaler & Associates – David Thaler, Stacey McArthur and Brian Childress Legal – Venable – Robert Hoffman and Chris Mudd Environmental – Hazardous Materials – GTA – Mark Rodano Environmental – Wetlands/Forest Buffer – Eco-Science Professionals – John Canoles Traffic – Traffic Concepts – Ken Schmid Current Development Issues – Bell Atlantic easement – The termination of easement has been signed by Woodholme and is in Bell Atlantic's hands for signature. After signing, we will record in the Baltimore County land records. CSX – We originally projected that the sewer for this project needed to run down Mount Wilson Lane, under I-795 and under the CSX rail line to the County sewer main line. Over the past few months, we have worked diligently to find an alternative route for the sewer line. CSX is extremely difficult and cumbersome to deal with for easements even though they must grant them. Thaler and Eco-Science have determined that we can realign the sewer line to the State Highway Administration's (SHA) easement running along 795 and place our sewer line in this area to connect to an existing County line that already goes under 795 and the CSX rail line. Baltimore County has approved this alignment and we will now meet with SHA who may have comments on the design. We expect no issues with SHA using their easement. Environmental Issues – we're working our way through a few environmental issues with the State and the County. We do not expect any roadblocks but there is a tremendous amount of detail we need to provide the governing agencies. The unprecedented amount of rain we have received in the last few months has delayed our ability to properly delineate exact stream beds, wetlands and buffers. These issues are routine and just take time. Our team is diligently working on these issues. Our current expectation is that delay should not cause us to miss the proposed schedule in the long run. Site Plan – D.S. Thaler continues to work with Lennar on refinements to their ultimate site plan. We expect to file the site plan as soon as that is completed.  Neighbors – The real estate committee has been in contact with Ner Israel and other neighbors. We have spoken or emailed with a few neighbors over the past months which conversations have usually consisted of correcting misinformation these neighbors have heard. Costs – The project has spent about $30,000 on consultant costs over the past few months. These costs are being fronted by an anonymous member of the Club so there is no impact on the Club's budget. Per the contract, these costs are reimbursed to this member through the Club's right for reimbursements of approval costs out of deposit monies being held in escrow. Construction Work – you may notice over the next few months that dump trucks are bringing dirt onto the grounds of the club. This work has nothing to do with the land sale to Lennar. The Club is in need of dirt for the future range expansion work. A member of the club is providing this dirt at no cost to the club and this member obtained all necessary County permits to stockpile the dirt on the club's property by the back of the range. At this point we could not be more pleased with the current progress of the project. Please let us know if you have any questions.