Margaret Jarrell Cole

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Strategic Real Estate Development
Margaret Jarrell Cole AVP, Admin. and Legal
Counsel
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• Overview
• Real Estate Goals
• Financing Structure
• Guidelines for Developers
• Project Review

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• Goals
• adjacent land for future growth
• control of landscape
• cash flow
• student experience
• student services programs
• freshmen on campus
• community partner

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• Possible Advantages
• ad-valorem tax exemption
• tax-exempt financing
• access to UCF customers
• credibility

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• Additional Considerations
• demand
• mixed use or special interest
• precedence with other projects
• reliance on proformas

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• Guidelines for Projects
• acceptable debt coverage ratios
• reserves
• predevelopment costs
• developer fee to foundation
• developer motivation
• land (appraisal)
• development fee
• timing

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foundation vs. developer
foundation vs. developer
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• Guidelines
• UCF team
• planning
• fee
• expenses
• Housing and Student Services
• Police Department
• Physical Plant, Parking,
• and Teledata

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• Guidelines
• security
• donation and match rules
• approval process
• BOD
• BOT
• BOG
• planning and zoning
• neighbors

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• Guidelines
• development agreement terms
• ground lease or other agreement
• balancing control by owners, users
• and investors
• media liability
• exempt organization issues

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• Resources
• balance sheet and shadow
• financial and legal advisors
• staff commitment
• community relations

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• McCulloch Lockwood
• Project

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• Is your name on the project?