NWPI Management has a proven track record of recognizing value and turning it into wealth.
Sumter County Florida is committed to community development and has already pledged $10 million towards the widening of CR-468 and the construction of a Florida Turnpike interchange at the intersection of CR-468. These two county construction projects converge on NWPI's acreage and provide the traffic-flow and access necessary to support a burgeoning community.
According to U.S. Census figures, from 1990 to 2000, Sumter County grew 69%, from 31,577 to 53,345 people and is one of the fastest growing counties in Florida.
Preliminary land comparables suggest that for raw land in Sumter County, NWPI's property is reasonably valued. However, unlike other large land parcels in the County, the strategic location of NWPI's property presents the opportunity for both residential and commercial development.
Any inherent risks associated with a real estate development project of this nature are almost completely mitigated by the following:
* NWPI will never directly manage any construction. All residential plots will be sold off to well-respected and proven construction firms with an expertise in building single-family homes. All commercial plots will be leased long-term to franchises such as McDonalds, Burger King, Applebee, Walmart, Exxon, and Marriott, and these firms will handle all of their own construction
* Sumter County has no impact fees and preliminary research indicates that this could save NWPI's developer-partners a total of $25-30 million over the life of the project.
* All community infrastructure costs (i.e. roads, sidewalks, hydrants, water, sewer) will be financed through Community Development District Bonds. These bonds will be insured through the Municipal Bond Insurance Company (MBIA) to secure an AAA rating and the most highly competitive interest rates. In addition, bond rates have fallen significantly over the last year and all indications are that rates will continue to fall.
Comparables:
Research on raw land comparables was performed at the Sumter County Appraiser's office with the help of Sumter County appraiser Ronnie Hamilton. Research shows the average cost per acre on comparable transactions to be $6,500.
