MID FEBRUARY 2008

During mid-February 2008, Mr. Mannarino requested a meeting with Arnie B. Green Associates, Inc.  In a reply to an e-mail dated February 20, 2008 to Mr. Lipps asking what the meeting agenda was about, Mr. Lipps responded:

"Coordinate information needs to make sure we are still 'on track'.  Receive your preliminary development concepts, now that you and your partners have visited the site and had a chance to look at some preliminary data."

MARCH 26, 2008

The City of Ormond Beach forwarded Arnie B. Green Associates, Inc. via e-mail the Airport Layout Plan so that initial concept layout planning by the Company's development team could begin.

SPRING 2008

The City of Ormond Beach began work on a draft Request for Proposal for the Southwest Quadrant of the Airport.
MAY 15, 2008

In a City Memorandum to the then City Manager Mr. Turner, Mr. Lipps discussed the Southwest Quadrant of the Airport and the necessity for the "City to conduct a request for proposal (RFP) process before creating a development program with a private party."

JULY 21, 2008

In response to a July 16, 2008 Sunshine Request, the City of Ormond Beach provided Arnie B. Green Associates, Inc. a copy of its most current draft of the RFP.

SUMMER 2008

The United States economy enters a severe economic downturn.  Many development projects are put on hold with most developers adopting a "wait and see" approach as to the corretion of the financial market and the related banking crisis.

$70 Million in New Investment

$382 Million 20-Year Impact to Ormond Beach

1800 20-Year Total New Job Effect to Region

$2.0 Million New State & Local Taxes Upon Completion of First Year of Operations

Robust Operations Facility - Not Just Aircraft Storage Hangars

800 Years Total Airport
Development, Engineering & Aviation Team Experience

100+ Years Total Military Command, Control, Operational, Flight & Ground Experience

Robust Aircraft Noise Abatement Program

Protects City from Financial Risk and Liability

No Ormond Beach Funds Required for Financing of Development