Fundamental Skills for Real Estate Development Professionals II – Project Entitlement (David Farmer) - ULI Fall Meeting 102611

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Fundamental Skills for Real Estate Development Professionals Project Entitlement: ,[object Object],[object Object],[object Object],[object Object],[object Object]

Entitlements Entitlements are legal rights conveyed by approvals from governmental entities to develop a property for a certain use, intensity, building type or building placement. Entitlements can be a major factor in the ultimate use, viability, and value of your property. Form of: Land Use Approvals, Zoning, Site Plan Approval and Permits

The Layers of Regulation Entitlement Process Multi-Layer Cake Comprehensive Plan/ General Plan Zoning Land Dev. Regs. Permits Comprehensive Plan/ General Plan Zoning Land Dev. Regs. Permits

“… issued writ commanding the City to revoke all building permits and the certificate of occupancy…” Why Should I Care About Entitlements? “ Under the ordinance, the City banned the development of “discount superstores,” which it defined as discount stores that exceed 100,000 square feet.” “ The lawsuit against the US Fish and Wildlife Service, the corps and the Interior Department asks a judge to revoke a 2006 permit for Mirasol…”

Why Should I Care About Entitlements? “ Despite governmental approval, the 136 occupied apartments violated the county’s comprehensive plan….” “… the court ruled that the law required demolition ….”

Layers of Regulation Entitlement Process Vested Rights Property Value Comprehensive Plan/ General Plan Zoning Land Dev. Regs. Permits Comprehensive Plan/ General Plan Zoning Land Dev. Regs. Permits

Approval Process - OVERVIEW: ,[object Object],[object Object],FEDERAL WETLANDS & ESA PERMITTING STATE & REGIONAL PERMITTING PRELIMINARY SITE PLANNING PRELIMINARY/ FINAL PLAT BUILDING PERMITS & CONSTRUCTION One Year Two Years Three Years

The Process: Key Terms ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The Process: Jurisdictional Interaction ,[object Object],[object Object],[object Object],[object Object],[object Object]

The Process: Permitting Agencies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Entitlements – Comprehensive Plan (General Plan) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Comprehensive Plan/ General Plan Zoning Land Dev. Regs. Permits

Entitlements – Future Land Use Map

Entitlements – Land Development Codes ,[object Object],[object Object],Comprehensive Plan/ General Plan Zoning Land Dev. Regs. Permits (COMPREHENSIVE PLAN)

Entitlements – Types of Zoning ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Entitlements – Conventional Zoning ,[object Object],[object Object],[object Object]

Entitlements – Planned Developments ,[object Object],[object Object],[object Object],[object Object],[object Object]

Entitlements – Review of Zoning ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Entitlements – Land Development Codes ,[object Object],[object Object],[object Object],[object Object],Comprehensive Plan/ General Plan Zoning Land Dev. Regs. Permits

Entitlements – Plats and Development Approvals ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Comprehensive Plan/ General Plan Zoning Land Dev. Regs. Permits

Entitlements – Plats and Development Approvals:

Entitlements – Permitting (Environmental): ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Comprehensive Plan/ General Plan Zoning Land Dev. Regs. Permits

Entitlements – State and Federal Environmental Permitting: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

State and Federal Environmental Permitting: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Understanding Entitlement Negotiation – What are the tools? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Strategic and Tactical Initiatives – Community Values: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Strategic Initiatives - Sustainability: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Strategic Initiatives - Smart Growth: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Strategic Initiatives - Civic Engagement: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Case Studies – The Good, The Bad and the Ugly

Case Study – Horse Creek Estates and Compatibility: ,[object Object],[object Object],[object Object],[object Object],[object Object]

Horse Creek Estates – Community Issues: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Horse Creek – The Process

Horse Creek – The Process Submitted initial plan – July 1999 Received input Repeated this process through 16 public hearings over 4 years until adequate analysis was conducted and community support achieved Revised Plan Spent over $1 Million to win approval only to lose property for taking too long to entitle property.

Horse Creek Estates – Lots Permitted By The Process ,[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Horse Creek Estates Final Plan

Case Study – WalMart ,[object Object],[object Object],[object Object],[object Object],Store not open in 2011 due to road concurrency issues.

Case Study – Colonial Plaza ,[object Object],[object Object],[object Object],[object Object],[object Object],Entitled property sold for $26 million in 2005 and is vacant today with a value of $2 million.

Entitlements – Take Away Value ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Questions or Comments: David Farmer Capital Four Advisors October 26, 2011 12355 Collier Boulevard Suite B Naples, FL 34116 (239) 292-6081 [email_address]

Fundamental Skills for Real Estate Development Professionals II – Project Entitlement (David Farmer) - ULI Fall Meeting 102611

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Fundamental Skills for Real Estate Development Professionals II – Project Entitlement (David Farmer) - ULI Fall Meeting 102611