P A L M C O A S T, F L O R I D A

CHANGE IS ON THE HORIZON … IN THE HEART OF PALM COAST.

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CITY OF PALM COASTPopulation: 72,949 (City of Palm Coast) as of March 31, 2007

Area: Approximately 62 square miles

County: Flagler

Government: Council/Manager form of government with five elected council members, one of which is elected mayor, incorporated on December 31, 1999

Location: Located in the eastern portion of Flagler County, in the heart of Northeast Florida, equidistant between the cities of Jacksonville and Orlando

Housing: Mixture of single- and multi-family housing dwellings; average cost of new construction (2005): $191,800

Average Household Income: $56,338 (2006 Estimate)

Median Household Income: $45,175

Per Capita Income: $22,674

Median Age: 50.3 years (Flagler County)

Business Environment: Industrial parks within the city currently house more than 30 mid- to

large-size businesses with the largest corporation, Palm Coast Data, employing close to 1,000 people; Bachelor’s Degree or higher -19.5%; unemployment rate - 3.6% (Flagler County)

Medical Services: A general hospital - Florida Hospital Flagler, one large nursing home, assorted assisted-living facilities, various medical and dental clinics, rehab services and professional services

Utilities: Electric - Florida Power & Light; Telephone - BellSouth and various other local and long distance services available; cellular and fiber optic service providers; Cable - Bright House Networks; Central Potable Water, Central Sanitary Sewer, and Reuse Water provided by City of Palm Coast

Climate: Subtropical; avg. rainfall: 52 inches; avg. temperature: 71°; winter mean temperature: 57°;summer mean temperature: 80°

Parks & Recreation: 466 acres of parkland; 7 developed parks and playgrounds; a community pool; organized sports and extensive recreation programs for all ages; 6 private golf courses within the City limits and 3 adjacent to City limits

Protection: Flagler County Sheriff’s Office (contractual agreement) with Sheriff’s satellite office in City of Palm Coast; City Fire Department and Emergency Medical Services and First Responder support with Flagler County Emergency Medical Service and County Fire Department

Schools: 5 public elementary schools, 2 public middle schools, 2 public high schools, 1 public alternative school, and 3 private schools

Transportation: Direct access to I-95, US Highway 1, and State Road 100; 39 minutes from Daytona Beach International Airport

SNAPSHOT:

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PUBLISHED BY:

Jim Phillips, Publisherjphillips@frej.net

150 Third Street, SW, Winter Haven, FL 33880

800.274.2812 www.frej.net

DESIGNED BY:

T H E N I S S E N G R O U P

George Byfield, Creative Directorgbyfield@thenissengroup.com

Michelle Jerla, Designermjerla@thenissengroup.com

PALM COASTFLORIDA

a division of RENI Publishing’s

SPONSORED BY:

WARM GREETINGS FROMTHE MAYOR OF THE INNOVATIVE CITY OF

PALM COASTR

Halfway between the historic enchantment of St. Augustine and thedynamic fervor of Daytona Beach, one of the nation’s fastest growingcities beckons your business. Palm Coast is now the largest city onFlorida’s northeast coast between Jacksonville and Melbourne. Ourpopulation of 72,000 has multiplied 6-1/2 times over the past twentyyears, both in growth and prosperity. People are drawn to the city for itsscenic beauty, quality of life and accessible location.

To meet the needs of a growing community, the City Council has created aCommunity Redevelopment Agency to transform the condition of amain city thoroughfare, SR 100, using the CRA’s tools provided to localgovernments through a specific Florida Statute. The Act outlines acomprehensive program that provides the legal framework and financingmechanisms within which local governments can undertake the uniqueand complex task of overcoming blight within a specific corridor.

Palm Coast’s Master Redevelopment Plan is designed to address growthrelated to economic development, transportation, housing, public safetyand community aesthetics in a brand new ‘Town Center’ concept to bedeveloped along SR 100. The City’s objectives are to utilize the CRA toreflect Town Center as a major catalyst for commercial, cultural, retailand residential development in the area. A prime objective for PalmCoast is to devise a plan that will provide a recommended course ofaction for the City to position itself favorably in the competitive marketof the regional economy.

The significant growth rates in Flagler County and its largest city, PalmCoast have generated an expanding labor force, with strong residentialdevelopment activity extending northward and southward from the corearea. Palm Coast’s proactive measures have prepared the City to capturea lion’s share of the community’s anticipated growth. I hope you’ll agreethat Palm Coast’s Town Center is an ideal choice to locate a business:the place where Business Moves.

Sincerely,

James V. CanfieldMayor, City of Palm Coast

Palm CoastHoldings Inc.

1 Corporate DriveSuite 3APalm Coast, FL 32137

TF: 800.220.2930P: 386.446.6226F: 386.445.2653

www.palmcoast.com

150 Third Street, SW, Winter Haven, FL 33880

800.274.2812

TTown Center at Palm Coast is a Traditional NeighborhoodDevelopment (TND), which is the term used to describethe planning and urban design of new developments thattake their forms from the structure and layout of traditionalAmerican small towns dating from the early decades of the20th century.The planning concepts and physical attributesof small towns, with their human walkable scale and livelymix of uses, are as inviting now as when they were originallydeveloped.

There are many elements that make up a TND including:

• Compact, defined urban neighborhoods, comprising a compatible mix of uses and housing types.

• A network of connected streets with sidewalks and street trees to facilitate convenient and safe movementthroughout the neighborhoods for all modes of transportation.

• Focus on the pedestrian over the automobile while retaining automobile conveniences.

• Integration of parks and public spaces.• The location of important civic buildings as landmarks,

creating a strong sense of place.

Town Centers are gaining popularity throughout the countryand especially in Florida. The desire to create a place wherepeople can live, work and play is the current trend in urbanplanning. It is Smart Growth at its finest.

The desire for community identity, social activities, and localentertainment is strong. Area residents are ready to see theirdesire fulfilled by Town Center which will incorporate all theTND elements to make it the "heart" of Palm Coast, a placewhere people want to live or visit over and over again. g

BRINGING IT BACK

‘THE OLD NEIGHBORHOOD’

In the midst of the rapid growth happening in northeastFlorida is Palm Coast, a city with unlimited potential wherelandmark change is taking place. The population of this oncelittle-known Floridian city continues to grow at anunprecedented rate, but its commercial growth has not keptpace with the influx of new residents.

That is about the change! There is a huge buzz in town abouta very exciting development – a new city center.

Developers are already beginning construction in TownCenter at Palm Coast – a place to live, work and play locatednorth of State Road 100 between Belle Terre Parkway andInterstate 95, Town Center will give Palm Coast a genuine“down town.” It will be the HEART and face of the city.

Town Center will combine the lifestyle, architecture andambiance of Main Streets of old with the convenience of awell planned urban center. It will include the followingmixture of land uses: residential dwelling units, includingtown homes, condominiums, apartments and independent andassisted living units; nursing home beds; office space; retailcommercial space; institutional space, including severalpublic facilities; lodging rooms; and a multiplex state of theart movie theater. Town Center is off to a fast start; it isanticipated that it will build out as the area continues to grow.

Palm Coast has seen a tremendous amount of residentialdevelopment over the last several years. The US Censusrecognized it as the fastest growing city in the entire nationduring 2004 and 2005. This rapid residential growth hasnaturally led to a demand for more commercial development.Town Center will be at the forefront of the area’s commercialgrowth.

Palm Coast Holdings, developer of Town Center, recognizedthe opportunity to create a “down town” for Palm Coastseveral years ago when Dale Arrington, then City Planningand Zoning Director, told company officials that the new Cityof Palm Coast needs an appropriate site for a permanent CityHall. That site has been reserved in the heart of theHEART of town. Other sites are designated for an Artsand Entertainment Center and a community center or otherpublic use. These public uses will transform Town Center intoa genuine “down town” - the HEART of the city.

Dave Lusby,Vice President of Marketing for Palm CoastHoldings says “If it’s good for Palm Coast, it’s good for PalmCoast Holdings and Town Center is certainly good for PalmCoast.” g

CHANGE IS ON THE HORIZON…

… IN THE HEART OF PALM COAST

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A newborn city...a rapidly growing population with scoresof artists and performers needing quality venues for theirwork...a small group of citizens with a desire to provide forthese needs...committed volunteers with the time, energyand organizational skills to begin such a venture. All thesefactors came together at the right time to launch thedream of building a world class Arts and EntertainmentCenter in the Town Center at Palm Coast, the new heart ofthe City of Palm Coast and Flagler County. Few couldhave anticipated the highs that have come with oursuccesses or the tremendous support we are receivingfrom our community.

THE VISIONIn 2001, members of local arts groups presented the needfor cultural facilities to a consultant for the City of PalmCoast. In January 2004, after determining that theconsultant’s preliminary report had not considered criticalinformation about the growth and needs of the area,thirteen supporters of the arts applied to the State ofFlorida for recognition of a non profit foundation (theFoundation) with the goal to fund, build and operate aworld class Arts and Entertainment Center in PalmCoast/Flagler County. Committees then worked on apresentation that was given to the Palm Coast City Councilin early 2005 requesting a long term lease on acreage inthe new Town Center at Palm Coast and recognition thatthe Foundation would have the opportunity to build andoperate an arts and entertainment complex on this land.As directed by a unanimous vote of the City Council, theCity Manager worked with the Foundation to develop anAgreement to Lease at a cost of one dollar per year for aterm of forty years which was signed in April 2006.Recognizing that the City does not have the resources tobuild such a facility, the Foundation plans to carry out thisplan without taxation!

THE MISSIONBelieving that all Arts are an essential and a uniquefacet of life to which every citizen is entitled, theFoundation will strive to encourage and supportexcellence and vitality in all of the Arts; providediverse opportunities for all residents and visitors toparticipate in the performing, visual, graphic and literaryArts by providing workshop facilities, training, rehearsaland performing venues and gallery space to localartists; develop a diverse and comprehensive schedulethat will bring to Palm Coast/Flagler County outstandingartists and performing groups; and anticipate and planfor growth by providing venues that will meet theneeds of a future city / county population in excess of200,000 and area population in excess of one million.

RESEARCH AND DESIGNA Turntable Divisible Auditorium (TDA) seating twothousand can be easily divided into three fully operationalsoundproof venues seating 1250, 375 and 375 respectively.The main stage will host a variety of performances rangingfrom traveling shows, big bands, ballet, opera and all othertypes of quality entertainment. Local performers andartists will also be featured throughout the entire year.TheFoundation will provide office, storage and performing/gallery space for major local arts groups. Two banquetrooms will allow the Center to host a variety of socialactivities including weddings and large parties. Plans callfor the Center to be open every day of the year from earlymorning to late evening. A professional staff assisted bycommunity volunteers will schedule and supervise inexcess of six hundred events annually.

MEMBERSHIPThe Foundation’s membership has grown from the originalthirteen to more than fifteen hundred. The cost of amembership is twenty dollars annually.The greatest valueof our large membership is its impact on potential donorswho are assured we have the support of the community.When we project membership of over ten thousand priorto our opening in 2009, these benefactors are convincedthat a world class Arts and Entertainment Center in theTown Center at Palm Coast can become the pulse of thenew heart of the City, Flagler County and the northeastarea of Florida.If these defining forces continue to cometogether, the Foundation will fulfill its motto: “Our effortson behalf of artists and entertainers will enrich our todaysand enhance our tomorrows.” g

FOR ADDITIONAL INFORMATION AND A MEMBERSHIP

APPLICATION, PLEASE CONTACT: • Joseph Ganci, President, at (386) 446-2288

or email ganciarts@cfl.rr.com • Glenn Grube, Secretary, at (386) 437-9715

or email grube77@bellsouth.net.

Or visit our website at www.pcffoundationarts-ent.org

THE BIRTH OF A DREAMA World Class Arts & Entertainment Center

R

Past, Present & Future

QQ. Mr. Chiumento, you are recognized as one of Flagler

County’s pioneers. How long have you been in the county and what was it like when you moved here?

A. I moved to Flagler County and opened my lawpractice in February 1973. Back then, it was a rural,agrarian county. My first fee was a dozen eggs. The population was around 6,000. I was one of two attorneys and there was only one doctor, one traffic signal, one grammar school and one high school in the entire county. The development regulations consisted of an antiquated three page subdivision ordinance. The county did not have a zoning ordinance or building department and it did not issue building permits or inspect any construction work.

Q. To what do you attribute the county’s tremendous growth over the past 35 years?

A. From the early 1970’s to the mid-1990’s, the county’s growth was primarily the result of the marketing and development efforts of ITT Community Development Corporation (ITT/CDC).ITT/CDC invested hundreds of millions of dollars to plan, market and develop the infrastructure at Palm Coast and at Sea Colony, Matanzas Shores and Hammock Dunes on the beach. In addition to developing the infrastructure that was essential for growth, ITT/CDC built parks, golf courses, a hotel and marina, single-family homes and condominiums,office and industrial buildings and retail commercial space. In addition to being the dominant developer, ITT/CDC was the largest employer in the county for many years. It also was responsible for attracting other businesses to the area. By the time ITT/CDC sold its real estate holdings in the mid-1990s, what had been a rural,agrarian county 20 years before had become arapidly growing community.

Q. Did growth slow down after ITT/CDC ceased operating in the county?

A. No, to the contrary, the area grew even faster after ITT/CDC discontinued operations. It was replaced by several other large developers that were able to

multiply what ITT/CDC had been doing for over 20 years.These second generation developers include: Palm Coast Holdings, the developer of Town Center at Palm Coast, Palm Coast Park and numerous smaller projects; LandMar, the developer of Grand Haven, Grand Landings, Grand Reserveand Grand Woods - LandMar also took over ownership and management of four local golf courses which are part of what LandMar calls its Grand Club; The Ginn Company, which is developing the Club at Hammock Beach, including two new golf course communities known as The Conservatory and The Gardens; and Lowe Enterprises, the developer of Ocean Hammocks and a new golf course community known as

FlaglerCountyAn interview with Michael Chiumento,Senior Managing Partner, Chiumento, Guntharp, P.A.

Continued on Page 12

F Flagler County

Sawmill Creek - Lowe also acts as sales representative for several local builders. Numerous smaller developers and builders also contributed to the accelerating growth.

Q. Will Flagler County continue to be one of the fastest growing counties in the country?

A. Absolutely! Palm Coast is bisected by I-95 so it is hard to miss by the many “baby boomers” who will continue to move to Florida. Also, unlike during the ITT/CDD days, today there are a wide variety of available housing products that are being marketed by numerous developers and builders. Those marketing efforts were recently augmented by the inaugural Ginn Champions Tour Golf Tournament which provided three days of positive national television exposure for Palm Coast and Flagler County.

Everyone who stops to look will be attracted by the three-season climate, proximity to ocean beaches, natural beauty and lack of congestion compared to other populated areas in Florida. Those who look more closely will find that Palm Coast offers a variety of recreational opportunities,numerous parks, the Florida Agricultural Museum, countless clubs and organizations, educational opportunities for all age groups and a new state of the art hospital. Soon they will also find the “heart of the City” at Town Center where they can shop, play and live - and work, if they are not already retired.Town Center will complete the package by filling a need for convenient shopping and providing a state of the art entertainment center for the community.

Q. What factors do you think will contribute most of the future growth of the county?

A. As I said, convenient shopping, a state of the art movie theater, a variety of new restaurants and a genuine downtown will soon fill the only void that remains at Palm Coast and in Flagler County. In my opinion, that will be a major factor influencing future growth. In addition, there are a dozen or more well planned new residential and mixed-use developments in the county that will provide a variety of housing opportunities - from affordable to high-end - for yearsto come. Obviously, no assessment of future growth in Florida can fail to mention the baby boomers. Many will find their way to Palm Coast. Also, local government, in cooperation with local business leaders, has made a major commitment to attracting businesses to Flagler County. New business means jobs, families, and a more balanced population and economic base which will help sustain growth and prevent the area from becoming just another retirement community.

Q. Is it true that you are building a project at Town Center?

A. Yes, I am building a mixed-use project that will include office space, retail space, a restaurant and possibly a bank. Our law firm is looking forward to relocating to Town Center some time next year. g

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Prices, plans, artist’s renderings, photos, land uses, dimensions, specifications, improvements, materials, amenities and availability aresubject to change without notice.

Palm Coast, a growing city in the eastern portion of Flagler Countyand minutes from the Atlantic coast, is growing faster than any otherarea in the state, yet it retains a pristine, “old Florida” feel. It is herewhere Bobby Ginn, President and CEO of Ginn Resorts, envisionedseveral luxury lifestyle communities, centered around master-plannedamenities and connected by the water. Using decades of experience andvisionary thinking, Bobby Ginn is able to see beyond what is - to whatcould be. “When I first came to Palm Coast, I was awestruck by thebeauty of the area,” said Bobby Ginn. “The city is very careful with itsdevelopment. It doesn’t want to lose its charm. That’s one reason why itand its people have been such great neighbors to us.”

Ginn Resorts’ Current Palm Coast Projects:

THE CLUB AT GINN HAMMOCK BEACHThe Club at Ginn Hammock Beach is a luxury condominium complex,centered around an 11-story tower situated on one of the last majortracts of undeveloped oceanfront on Florida’s east coast.

YACHT HARBOR VILLAGE AT GINN HAMMOCK BEACHYacht Harbor Village at Ginn Hammock Beach is a Mediterranean-themed,76-acre enclave of 205 single-family homesites and 88 condominiums, alloverlooking a marina or the Intracoastal Waterway.

THE CONSERVATORY AT GINN HAMMOCK BEACHThe Conservatory at Ginn Hammock Beach, a 565-acre private communitywill feature 340 custom homesites, Spanish Renaissance-style architectureand a grand glass-enclosed Clubhouse that will serve as the communitycenterpiece and private social venue.

OCEAN HAMMOCK RESORTOcean Hammock Resort, acquired in late 2006 by Ginn Resorts, includesthe AAA Four-Diamond Award-winning The Lodge and the OceanHammock Golf Club, a renowned Jack Nicklaus-design Signature course.

GINN AVIATIONIn order to move company leaders to and from individual properties forimportant meetings and events, or to look at developing projects, GinnAviation maintains a fleet of aircraft at the Palm Coast Airport.Ginn Resorts built a new hangar in 2006, which is large enough toaccommodate the expanding fleet and personnel at the airport. One ofthe largest corporate fleets in Florida, practically every plane is inthe air seven days a week making four to five trips a day. g

THE CLUB AT GINN HAMMOCK BEACH

YACHT HARBOR VILLAGE AT HAMMOCK BEACH

THE CONSERVATORY AT GINN HAMMOCK BEACH

OCEAN HAMMOCK RESORT

GINN AVIATION

THE GARDENS AT GINN HAMMOCK BEACH THE CONSERVATORY AT GINN HAMMOCK BEACH

THE LANDING

AT PALM COAST

DDeveloper’s Realty Corporation of West Hartford, CT.and Weingarten Realty Investors of Houston, TX. haveentered into a joint venture to develop the Palm CoastLanding at Town Center located at the northeast cornerof Belle Terre Parkway and State Road 100. This projectwill be at the gateway of the Town Center in Palm Coast.

The vision of this project is to create a quality regionalLifestyle center. The project will blend aesthetically andarchitecturally with the area. A retail experience thatwill give the people of the community an opportunity toenjoy first run movies, excellent eating establishments andall the other complimentary retailers that willenhance the shopping experience.

The project consists of a 435,000 square foot regionalLifestyle Center anchored by Super Target. Nationalretailers include Ross Stores, TJ Maxx, Michael’s Arts &Crafts, Pet Smart, health fitness center as well as banksand casual dining restaurants.

A companion project in the Urban Core of Town Centerincludes Epic Theatre’s multi-screen stadium seatingtheater. The movie theater will anchor approximately200,000 square feet of complimentary retail, restaurants,and specialty shops, all within walking distance of mostof Town Center’s planned residential projects.

Joseph Baranowski, President and CEO of Developer’sRealty, said “We are excited to work with WeingartenRealty Investors on this project. We wanted to makesure that we brought in a joint venture partner thatbuilds quality centers and has the same culture, familyvalues and experience as Developer’s Realty.”

Michael E. Lynch of The Lynch Companies of NorthFlorida, Inc., consultant to Developer’s Realty wasinstrumental in finding the location and bringing bothentities together. Michael stated “The reception hasbeen very strong from the retailers on a local and anational level”. The types of retailers and the quality ofrestaurants will bring the goods and services that theresidents of Palm Coast have been asking for.”

“The City of Palm Coast is a wonderful community andwe look forward to bringing them a quality center” saidTerry Marks, Regional Development Director of WeingartenRealty Investors.

The anticipated ground breaking will be mid 2007 andopening mid 2008. g