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Forest Hills School District Board of Education

Anderson Township Park Board


Anderson Township Board of Trustees

Joint Questions Response


The plan simply makes too much sense

November 20, 2015


Thomas D. Durbin
Interim Forest Hills School District Superintendent
7550 Forest Road
Cincinnati, OH 45255
Mr. Ken Kushner
Anderson Township Park District Executive Director
8249 Clough Pike
Cincinnati, Ohio
Ms. Vicky L Earhart
Anderson Township Administrator
7850 Five Mile Road
Anderson Township, Ohio
Re: Response to the letter dated November 9, 2015
Dear Mr. Durbin, Mr. Kushner and Ms. Earhart:
On behalf of our partner companies, we are attaching the following information in association with the Anderson 2020 Plan. Our team continues to be
excited by and assured of the viability of this proposal, which will provide for a new Anderson High School, a renovated RecPlex and expansion of the
townships urban core with no additional taxes.
Along with the responses to your questions, we have included drawings depicting a redevelopment concept of the existing Anderson High School
site in order to comply with your December 1st deadline as well. Per paragraph 4.1.e. Review Procedure by PUD plans, a pre-application conference
with the Director of Planning and Zoning is required before we can submit an official application. This procedure is contrary to what was requested on
November 9th and your subsequent email.
We also have included an update of the Anderson 2020 plan that was originally presented in March of this year. The document describes the parties
involved and the responsibilities of each entity.
In our discussion at the joint meeting on October 15th, we believe that it was agreed that a bi-monthly meeting schedule with all parties be established.
In addition, it was determined that a meeting to review legal issues, procedures and responsibilities needed to be arranged, as well as a pre-application
zoning meeting. We ask that all of us review what was agreed to on the 15th so that the Anderson 2020 Plan can move forward. If all parties involved
in this endeavor are cooperative, participatory and responsive, then the success of this plan will be ensured.
Sincerely,

E. Thomas Fernandez
SFA Architects, Inc.

ANDERSON TOWNSHIP 2020 PLAN


The Anderson Township 2020 plan involves the collaboration of the following parties:





Anderson Township Trustees


Forest Hills Local School District
Anderson Township Park District
Hamilton County Port Authority (HCPA)
Master Developer (Vandercar Holdings with Continental Real Estate Companies)
Design/Build Team (Turner/SFA)

ANDERSON
TOWNSHIP
PARK DISTRICT

ANDERSON
TOWNSHIP

FOREST HILLS SCHOOL DISTRICT

HCPA

MASTER DEVELOPER
VANDERCAR & CONTINENTAL
REAL ESTATE COMPANIES

EXISTING HIGH SCHOOL


SITE

BEECH ACRES SITE


(Parenting Center and Park)

Redevelopment of property

Design-Build of new HS and Renovation of RecPlex

It has been established that the common goal of these parties is to create a positive outcome for the community of Anderson Township
by building a new high school and renovate the recreation center on the Beech Acres site without raising any new taxes via a public/
private partnership, a design-build delivery method, and a development-overseen structure. The correlation between parties to reach
this common goal is outlined below.
Beech Acres Site:
The Development Team will enter into an agreement with the Hamilton County Port Authority (HCPA) to Design Build the new Anderson
High School and renovate the existing RecPlex with a guaranteed maximum price. This will ensure that the two projects are built ontime and on-budget.
Existing Anderson High School:
The School District will enter into an agreement with the HCPA to give the Anderson High School Property to the HCPA. The HCPA will
enter into an agreement with the development team (Guarantor) to redevelop the entire existing Anderson High School site. The site
will only be developed into community uses; i.e. offices, apartments, senior living, and limited retail. Vandercars partner developer,
Continental Real Estate Companies, will be responsible for all development activities.
Anderson Township and Forest Hills Schools will enter into an inter-governmental agreement that will allow for the Anderson High
School site to be Tax Increment Financed ending in year 2051. The Tax Increment Finances will go toward financing the new Anderson
High School on the Beech Acres Site and will include renovation of the existing RecPlex.

The following is an explanation of the roles and responsibilities of all involved parties.
ANDERSON TOWNSHIP BOARD OF TRUSTEES (ATBT)/ZONING COMMISSION
1. Agree to the new PUD Zoning of the existing Anderson High School site to allow for a high-density mixed-use development per
Guarantors request
Rezoning must occur before funding of bond financing
2. Create a Tax Increment Finance

a. 100% agreement for 30 years
All PILOTs go to debt coverage
After debt coverage is satisfied (And Master Developer is made whole for service payment guarantee), overages stay
with the township
3. Create a memorandum of understanding From ATBT

a. Agree to create a rolling TIF until year 2051 on the existing FHSD school site
Agree to transfer/use 100% of service payments for debt
Excess service payments will be used to repay Master Developer

b. Agree to accept transfer of existing FHSD school site

c. Agree to transfer existing FHSD school site to HCPA

d. Agree to cooperate with Master Developer on zoning requirements to site
General terms
Subject to legislative action

e. Agree to cooperate with all parties in project
4. Selection of a CIC/Port Authority to facilitate the process
FOREST HILLS SCHOOL DISTRICT (FHSD)
1. Create an MOU from FHSD

a.
Agree to transfer school site (Max: $1) to the Township or HCPA/Port Authority

b.
Agree to build a new school with the Master Developer (Design-Build Team)

c.
Agree to purchase new site through the Master Developer, HCPA/Port Authority or Anderson
Township Board of Trustees

d.
Agree to a rolling TIF until 2051
100 % of service payments used for debt
Excess service payments used to repay Master Developer

e.
Agree to a timeline at existing site for development acquisition

f.
Consent to zoning authorization so that process can start

g.
Agree to cooperate with all parties in project
2. Develop a Program of Requirements (POR) per budget
3. Develop standards (Note: Can be based on OSDM and allowable modifications)
4. The District shall cooperate with the Master Developer (Design-Builder) to develop complete designs and construction of new
facilities/improvements.
ANDERSON TOWNSHIP PARK DISTRICT (ATPD)
1.
Facilitate acquisition of the Beech Acres Parenting Center site in cooperation with the Master Developer, Anderson Township

Board Of Trustees, Forest Hills School District or HCPA
2.
Cooperate with the Master Developer (Design- Build Team) responsible for the construction of a new high school in order to

master plan for future improvements to the new Park Board property inclusive of a future recreation center
3.
Work with the Design/Build Team for planned renovation work

HAMILTON COUNTY PORT AUTHORITY (HCPA)


1.

2.
3.

4.
5.

The HCPA would facilitate property acquisition and property development on the existing Anderson High school site and
Beech Acres site
Manage the purchase and transfer of land
Create a Master Developer contract/agreement outlining:
Design-Build
Budget
Zoning
PUD
TIF
Facilitate improvements to the Beech Acres site, including a new High School and renovation of the RecPlex.
Enter into agreement with the Master Developer responsible for development of the existing Anderson High School site,
guarantee of the TIF revenue, and provide design-build services for the new high school to be located at the Beech Acres site

MASTER DEVELOPER (VANDERCAR / CONTINENTAL REAL ESTATE COMPANIES)


EXISTING ANDERSON HIGH SCHOOL SITE :
1.
2.
3.
4.
5.





Create a Master Plan for the development


Validate the budget
Present plans to Anderson Township for approval and zoning
Implement improvements that yield the guaranteed TIF funding amount of $48 million
Finalize
a.
General terms
b.
Agree to make service payments
c.
Agree to negotiate a purchase contract for the Beech Acres site
d.
Agree to improve FHLSD site
e.
Agree to improve existing Beech Acres Site (Design-Build process)
f.
Agree to cooperate with all parties in the project

BEECH ACRES SITE:


1.
2.

Provide Design-Build services to implement the POR for the Forest Hills School District
Implement the design and construction of new facilities and site improvements per established standards

DESIGN / BUILD TEAM (TURNER/SFA)


1.
Provide planning services to validate Program of Requirements and budget.
2.
Establish a design and construction schedule.
3.
Provide a guaranteed maximum amount for all work associated with construction of new facilities and renovation of the

existing RecPlex.

PROCESS:

1
With specificity, what new Anderson High School facilities are we to receive?
A preliminary Program of Requirements (POR) for the new Anderson High School facility of 239,711 SF has been provided previously. We await
review comments from the District. The design process will be similar to that being completed for Wilson Elementary, in which the users drive
the desired configuration and provide the specificity of the desired plan. Your staff will work with Turner/SFAs design team to determine the
best usage of the programmed building square footages. Most likely the building will be designed and built with many of the same spaces that
it currently has, but will be more flexible and in-line with current educational standards. The goal is to ensure the school is better able to adapt
to changing academic and community trends of the future. The following is a summary of the types of spaces, square footages and quantities
anticipated.

New Anderson High School


SUMMARY OF SPACES

Worksheet Summary
Enter Grade Configuration

9-12

Square Feet Per Student

184

H-AC
H-SE
H-AD
H-MC
H-VA
H-MU
H-TE
H-BE
H-FCS
H-PE
H-SD
H-FS
H-CU
H-BS
Facility Total

Program Area
Academic Core Spaces
Special Education Spaces
Administrative Spaces
Media Center Spaces
Visual Arts Spaces
Music Spaces
Technology Education Spaces
Business Education Spaces
Family and Consumer Science Spaces
Physical Education Spaces
Student Dining Spaces
Food Service Spaces
Custodial Spaces
Building Services

Construction Factor (~11% multiplied by the facility total)

Gross Square Feet (GSF) Developed

TOTAL SF
49,760
4,130
7,028
7,420
4,900
7,310
4,680
3,000
2,660
46,900
20,563
4,765
500
52,501
216,117
0.11
239,711

a. Will we have comparable or better learning spaces to what is planned under the renovated Anderson plans?
SIGNIFICANTLY BETTER. The new Anderson High School will have state-of-the-art learning spaces. Theories at practice in academia,
architecture and building when the original Anderson High School was built in 1961 are drastically different today. New learning spaces reflect
a better understanding of student learning behavior, successfully integrate technology, and have the ability to adapt to the changing needs of
students and the community. Schools built today reflect 21st century learning ideals. The new Anderson High School will have better sound
transmission quality between walls and ceilings, it will incorporate natural light when possible and efficient LED technology when necessary;
it will allow for flexible hard wiring throughout and wireless connectivity between all points in the building. High schools today are no longer
a destination for 14-17 year olds between 7am and 4pm; they are vibrant community centers that host a range of activities for all Anderson
residents at all times of the day. The new Anderson High School campus will be a destination for learning for the entire community.

New Anderson High School Images:

Innovation Laboratory

Digital Atelier

Group Rooms

Breakout Space

Similar Facility Images:

b. Will we have comparable or better other amenities as is planned under the renovated Anderson?
SIGNIFICANTLY BETTER. A renovation of an existing campus is not the same as building a new campus. Renovations hope to repair
problems and fix issues but are often unable to resolve core items with structure and layout. New facilities are planned from scratch with users,
administrators and maintenance crews helping to design the ideal campus, one that is not inherited, but tailored to the school and the needs of
today. The new Anderson High School plan will have a new auditorium, new gathering spaces, new art rooms, a new cafeteria - all with fresh,
clean and durable finishes. The campus also will have all new pavement, sidewalks, parking lots, lighting and landscape.
The existing Anderson High School was originally built in 1961, and subsequent additions were made in 1964, 1967, 1971, 1988, 2001 and 2003.
A new facility will have better way-finding, improved safety through better monitoring and placement, better connectivity between functions and
greater flexibility. A wider selection of mechanical systems is available with the increased ceiling height versus the limited height of the present
building. While no doubt the budgeted renovations to the existing high school will be a drastic improvement, not all systems and finishes are
being upgraded out of practicality, thereby leaving the remodeled school till out-moded.

Commons

Technology Integration Study

Central Circulation

10

c. Will we have comparable or better athletic facilities?


SIGNIFICANTLY BETTER. The new Anderson High School plan will have new stadiums for football/soccer and baseball/softball, new practice
fields, a new natatorium, and new auxiliary gymnasiums. The new scenario will have all of the same programs as the existing school site but
with no overlapping fields. Additionally, the parking lots for the athletic facilities will be larger, allowing for greater capacity and energy at sporting
events.

Option 1 - as previously provided

Option 2 - newly presented

11

Option 2 - site plan

Option 2 - building axonometric

Option 2 - building axonometric

Option 2 - site axonometric

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d. What will the new high school cost?


The new High Schools cost of construction will be $73,602,545 inclusive of land costs. The project costs are in-line with what the Districts own
staff has projected. By having a design/build approach, the District can be assured that cost overruns will not occur.
Project Budget:

Land Costs (est) $ 6,900,000
Anderson High School (with auditorium, natatorium, and auxiliary gym)
$ 57,000,000
Site Improvements:
Including football/soccer stadium; baseball stadium; softball stadium
$ 5,500,000
Soft Cost/Contingency/Misc.
$ 4,202,545
Total cost for a new high school:
$ 73,602,545
Funding:
Partial Reallocated School District Renovation Funds
$ 24,500,000

Guaranteed TIF Funding $ 49,102,545
Total Funding available:
$ 73,602,545
Total cost of a new high school
$ 73,602,545
Total Funding available:
$ 73,602,545
Total Cost to Anderson Township Community
$
0
Add Alternates:
Soccer field turf and lights
Baseball stadium lights
Increase field house with locker rooms
Add four Additional Classrooms:

$
$
$
$

800,000
200,000
700,000
950,000

Note: above reflects Option 2


e. What infrastructure needs are there at the Beech Acres Parenting Center (BAPC) site?
The Beech Acres Parenting Center (BAPC) site has the utility (electric, sewer, water, etc.) infrastructure to meet the needs of the new high
school. Traffic onto the new site from Beechmont Avenue will be managed with the addition of two new traffic lights. There is a center turn lane
in place on Beechmont Avenue, requiring no other street improvements. For safety and security reasons, a secondary emergency only ingress/
egress route through the Beech Acres Park is suggested. This will provide emergency vehicles access from Salem Road. The new campus
will provide Option 1:615 parking spaces and Option 2: 550 parking spaces, more than the current high school site. This new parking will serve
the entire community, including residents who regularly patronize the park and its facilities, as well as those attending special events such as
Anderson Days. Increased parking will make access to park facilities more easily accessible. All of the above infrastructure costs are included
in the high school project budget that is spelled out above.

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2
Location of facilities
a. Where will the athletic facilities be located?

Page 11 has two PRELIMINARY concept site plans of the new Anderson High School site. As previously stated, the final plan will be arrived at
by a series of design charrettes involving the School District representatives, Park Board representatives and community. We have received
no direct comments to the sketches previously provided. Input is necessary to produce the best solution possible. Based on comments made
by a few members of the community, we have reconfigured previous layouts (Option 1) in order to accommodate the track around the main
competition stadium (Option 2).

Option 2 - site axonometric


b. If the athletic facilities are located in City of Cincinnati limits, will we be able to have lights at the facilities?

Both preliminary site options presented herein only have practice fields within the City of Cincinnati. There are no lights required for these
locations.
c. Where will the high school building be located?
See the attached two options on page 11. While other configurations are possible, the final solution will only be arrived through numerous
meetings with those involved, as stated above, in addition to student representatives.
d. If a new RecPlex is built, where will it be located?
A new 50,000 square foot RecPlex may be located south of the new high school, and north of Beech Acres Park. It would be built alongside the
existing RecPlex, which would then be demolished once the existing building is no longer needed.

Proposed Boundary
New RecPlex

e. If a new RecPlex is not envisioned, how much space is available for expansion of the current facility?

The reserved land around the RecPlex will total 3.96 Acres (including the existing RecPlex).

Proposed Boundary
Existing RecPlex

Per 2.d. above, sufficient space is available to


construct a new 50,000 SF RecPlex alongside the
existing facility. That will ensure that the services
provided the community are uninterrupted.

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3
What are the exact terms of the guaranty that the Board of Education is to receive from the Developer?

The financing plan has been for the Hamilton County Port Authority to act as issuer for the Lease Purchase Revenue Bonds. We have
explored two options for this financing.
1) The first financing option would require the Developer to guarantee the principal and interest on the School District debt up to a period
when revenues from the development cover debt service for a period of two consecutive years at 1.25xs debt coverage rate. This would be
accomplished as a publicly sold bond transaction.
2) The second financing option would be to privately place the bonds with investors at a competitive rate. We have had conversations with
several investors that would be willing to further explore this option with the developer guarantee.
The exact terms of the guaranty are as follows:
Finances $73,602,545School Construction/Land Acquisition Developer Guaranteed & $5 million (maximum) Estimated Public Improvements
Developer guarantees SD bond issue
$5mm in public infrastructure needs issued as non-developer guaranteed
Developer has out-of-pocket exposure bond years four and five
JEDD Revenues utilized to support $3.5 million to $5.0 million public improvements needed
Total deficit not eliminated until bond year seven will need to be solved.
Total cash balance in project fund in year 2051: $27,931,875
Source

Amount

Bond Proceeds

$49,102,545

School District
Construction Fund

$24,500,000

Total

$73,602,545

Years 1-15 cash flow

a. From whom will we receive the guaranty?

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a. From whom will we receive the guaranty?


Continental Real Estate Companies and its principals will work with the School District to reach a mutually agreeable guaranty.
Continental Real Estate is a highly capitalized developer and full-service real estate corporation providing one touch point for every aspect of
a project, from land acquisition through property management. Over its history, Continental has developed more than 20 million square feet
totaling over $2 billion in development costs in multiple-asset classes including office, hotel, retail, entertainment, multi-family, student housing
and senior living. Continental has engaged in multiple public-private partnerships in the course of these developments, including various
development agreements with municipalities, tax increment financing arrangements (TIF), capital lease financing and more.
Continental has TIF experience in multiple states involving more than $150 million in TIF proceeds. Examples include a $40 million TIF at The
Waterfront in Pittsburgh, a $17 million TIF in Grove City, Ohio, and a proposed $70 million TIF in Lansing, Michigan. Continental has several
principals with the financial wherewithal to satisfy TIF guaranty requirements.
b. What collateral or other security will we receive for the guaranty?
The collateral for the guaranty would come from the Limited Liability Company (LLC) formed for this project. All assets within the LLC would be
pledged as security towards the guaranty. Additionally, the Developer has committed that should the appropriate zoning be in place to support
the financing, a corporate guarantee would not be an issue. Please keep in mind that in a default scenario, any private development financing
would be subordinated until the property taxes that derive the TIF payments would be paid in full.
c. For how long will the guaranty last?
This would depend upon the development phasing. As stated earlier, the guaranty would run until revenues from the development cover debt
service for a period of two consecutive years at 1.25xs debt coverage rate.
d. Would the Developer be willing to purchase TIF Revenue Bonds?
We are exploring a private placement structure.

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4
Are the proposed development plans for the current Anderson High School (Forest Road) site feasible?
Yes, redevelopment of the site will host a mixed-use development which will produce $49.1 million in guaranteed TIF dollars. The intent of these
concept plans are to address the feasibility of the redevelopment potential for the existing Anderson High School site. Since the property will not
be available for another three years, adjustments to reflect market conditions must be allowed to occur upon review of the Township.

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Included:





200,000 SF Office - Phase 1


80,000 SF Office - Phase 2
550 Multi-Family Units
200 Senior Living Units
120 Key Hotel 4 story

18

19

a. The available land at the Forest Road site is only 48 acres. It appears that something in the area of 67
acres is necessary based upon the suggested uses in your traffic report, using comparable developments in
Anderson Township (without considering structured parking and likely open space or buffer requirements).
How do you respond?
The drawings provided above support the feasibility and ability of the project to achieve a value of $120 million. Per the maximum density
suggested, we are indicating 1,794 parking spaces versus the 1,790 required by the Anderson Township Zoning Regulations.
The term New Urbanism illustrates the movement currently taking place as an effort to raise the quality of life and standard of living in our built
environment. This is an important aspect of planning and presents an opportunity to create a better future for us all. By regenerating our towns
and creating new, dense cities, people can enjoy living, working, and playing all in the same location. These cities are diverse, walkable, dense,
energetic, mixed-use communities that offer numerous facilities and amenities but allow residents to easily travel from one location to the next.
The principles of New Urbanism, outlined below, can be applied to various projects ranging in scale.
1. Diverse and Mixed-Use Facilities
Neighborhoods, blocks and the buildings themselves are composed of residential, commercial and retail tenants
Residents represent a large demographic, including people of all ages, income, cultures and races
Range of housing types, sizes and prices
2. Walkability
Pedestrian-friendly street design (trees, low speed limits, street parking, retail display, porches, etc.)
Shops and restaurants a 10-minute walk from work or home
Smaller streets with slower speeds promote pedestrian usage
3. Neighborhood Aesthetic
Thoughtful building design to create memorable, quality spaces
Distinguished city center and defined edge
Emphasis on quality public space
Dense, public spaces concentrated at the citys center
Vibrant public art to promote local creativity and culture

Example Images:

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b. Based upon comparable developments, it is estimated that the new development that was presented on
October 15, 2015, may be valued at only $61 million and not the projected $120 million. How do you respond?
The success of the overall project and the subsequent development of the Beech Acres Parenting Center property is dependent on receiving
acceptance of a high-density Planned Unit Development (PUD) zoning permit which is common to many other types of projects. Since our initial
discussions in March, we have made all parties aware of this imperative to achieving the required taxable property values. More importantly, it
reinforces the new urbanism design principles that are necessary for creation of Anderson Townships downtown/core area.
The development team has not been provided with correspondence or any data from the Township Administration related to the $61 million
calculations, making it difficult to comment. Our assumptions are that the Administration has pulled the current value of similar developments
that are in the Township. What is not being considered is that the original investment in each of those projects is far less than the current cost
of a new development. In other words, a 20-year-old hotel represented an $8 million investment in 1995. While the current value might be only
$10 million as compared to a new development of $15 million, it does not necessarily represent a decrease from the original value or assessment
rate. Naturally there are circumstances that occur which can reduce the value of the property. In 2008/2009 there was a nationwide drop of
property values due to the economy, although most have recovered. Another circumstance which could affect property values is an overall
decay of a neighborhood due to loss of jobs, migration of the population, natural disasters or the lack of maintenance of the property. We are
bullish on the Anderson Township community and do not envision an erosion of desirability and value. In fact, based on information from of the
local real estate agents interviewed, the development of a larger urban core, increased senior living opportunities, a hospitality offering, and a
new Anderson High School will continue to support increasing property values.
Much of the increased property values are naturally due to inflation. In the 1980s many economics professors pontificated that inflation is our
friend and would make us all millionaires in the future. While we can argue with their position, few would disagree that the constant over the life
of the proposed TIF arrangement is inflation. While there might be periods of deflation, it is usually only a short-term occurrence. Many homes
selling in the 1960s in Anderson Township were valued at $20k to $30k or less. These properties now are $120k to $140k or more. The property
taxes collected for these properties have subsequently increased. In the 70s we were constructing school buildings for $23/sf. Today school
construction projects are $210/sf. to $240/sf. On many of these properties, the tax payments today exceed the original mortgage payments.
Lets not forget that the development team has made an unprecedented commitment to provide a guaranteed property tax value that will
generate the needed $49.1 million for the new AHS project. We challenge all future development teams to do the same versus seeking
subsidies or support funding.
120,000 SF Office (Phase 1)
80,000 SF Office (Phase 2)
544 Multi-Family
200 Senior Living
120 Key Hospitality
Developed Land

$15,800,000
NIC
$52,600,000
$27,000,000
$14,000,000
$12,000,000

Total Value (minimum)

$120,000,000

During several discussions and presentations by the Anderson Township Administration, references have been made to other area developments
regarding property values. Please note that the tax value of the New England Club which we designed in 1985 has never been lower than the
actual project costs at that time. Furthermore, a review of the tax value of recently constructed offices withhin the Township supports the
information stated above.

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c. What are the total projected infrastructure costs for the Forest Road site? Documents presented thus far
do not include any improvements south of the site on Forest Road, Old Five Mile, etc. Nor do they address the
Developers suggested access points across other private property which is not part of this development site.
A preliminary assessment of the proposed development on the existing AHS site on Forest Road has been performed by Mr. Jack Pflum. Mr.
Pflum is the areas premier traffic engineering expert with much knowledge of the traffic patterns of Beechmont Avenue and Forest Road. We
engaged Mr. Pflum after not receiving any back-up data to the Township Administrations claim that the infrastructure cost is $10 million. In
contrast, Mr. Pflums assessment is that projected cost is $3.5 million.
Traffic expert Mr. Pflum believes it would place an undue burden on any development team to address hypothetical traffic engineering issues
which may not be significantly impacted by the development in question. Upon submission of a zoning application, a full and in-depth traffic study
will be mandated by the Township. If it is found then that the new development place an undue burden on the southern intersection between Old
Five Mile Road and Forest Road, then a new street light (cost of approximately $125,000) may be required.
Based on the financing model provided by 5th/3rd Bank, up to $5 million can be generated for infrastructure costs with the use of JEDD revenues
derived from the new mixed-use development. No JEDD covering the Beech Acres property is suggested. Any additional road improvement
costs associated with the redevelopment of the existing high school site could be funded by multiple methods. Options Include:
1.
Excess TIF (potentially $27 million or more) over the life of the TIF covering the mixed-use development.
2.
Excess TIF revenues derived from other developments underway in the Township.
3.
TIF from the Townships area-wide TIF, which will be extended an additional 15 years with this years State of Ohio Budget.
The additional revenue may be used for other desired infrastructure improvements beyond what Mr. Pflum deems required. While not mandatory,
the development team has suggested that a connector to the traffic light at 5 Mile/Nimitzview Drive would be ideal. Naturally this additional
element would require land acquisition and cooperation with the impacted property owners. This connector would have tremendous value to
the Township as well. This secondary connection to New Five Mile Road will allow for consolidated growth along the road and protect residential
areas along Old Five Mile Road and South of Forest Road from creeping commercial development.
Access into the new development may be made from the Forest Road / Beechmont Ave intersection. We also have been in contact with the Al.
Neyer Inc. development team that has proposed a new office project just east of the current FHSDs administration building. In cooperation with
them, a connection to Wolfangle Road is easily created. This second means of egress will allow for an additional access point from the Wolfangle
Road/Beechmont Avenue traffic light. Our team has spoken with Al. Neyer, the developers of the site with access to this intersection, and they
are willing to allow our projects traffic to cross over their site.

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5
Financial issues
a. What is the projected cost to build the new high school?
Please see response to question 1D above associated with Option 2 plan. The Turner/SFA team will provide a Guaranteed Maximum Amount
for the new high school construction, reducing the risk typically taken on by the public entity.
b. What infrastructure improvements must be funded by the School District?
Besides the $24.5 million shown in question 1d, the District will not pay any additional amounts for the new high school as programmed. If the
District requests additional items such as the options indicated in 1d, those will be calculated independently.
c. What infrastructure improvements must be funded by the Township?
Mr. Pflum described the anticipated infrastructure work associated with the new development and provided a budget of $3.5 million. While the
financial model run by 5th/3rd indicates an additional $1.5 million for the improvements, only those that are deemed necessary will be budgeted
in order to eliminate any shortfalls during the early years or eliminate the use of a JEDD.
d. What infrastructure improvements will be funded by the Developer?
All infrastructure costs within the development area are the responsibility of the development team.
e. Does the developer still intend to contribute $2 million toward the renovation of the RecPlex?
In accordance with what we conveyed to the Park Board, the design/build team will provide improvements as desired for the $2 million. This
assumes that there will be no further delays with the project approval process during the next few months.
f. Under the current proposed plan, the Developer would pay $1.00 for 47.99 acres of land (Forest Road site)
with the FHSD paying all costs associated with transferring the property to Vandercar. The Forest Hills School
District would in turn pay $6.9 million for 36 acres currently owned by BAPC. What is the Developers equity
contribution?
The value of the land at Forest Road is offset by the demolition costs, internal infrastructure expenses such as roads, streetscaping, landscaping
and utilities for sub-divided plots within the existing Anderson High School property.
g. Is the Developer paying for demolition of the existing buildings on the Forest Road and BAPC sites?
Yes.

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h. In his June 25, 2015 letter, Tom Caldwell with Continental Real Estate Companies stated that The Master
Developer will provide a mutually agreeable guarantee for a portion of the TIF payments as part of this
transaction which will be further defined and modeled. (In his letter,Master Developer is defined as a joint
venture between Continental Real Estate Companies and Vandercar Holdings, LLC.) During an August 7th
meeting, Mr. Caldwell stated that individuals associated with Continental would provide personal guarantees
adding well take some of it [risk] but not all. At the conclusion of an October 1st meeting, Tom Fernandez
with SFA Architects stated that individuals with Continental, backed by the company, would guarantee any of
the FHSDs debt service shortfalls for the life of the debt. Which of these statements is correct? Who/which
company is providing the guarantee? Continental? Vandercar? Individuals? All of the above? In addition, how
long is the guarantee? Until TIF revenues are generated off of the Forest Road development? For the life of
the FHSD debt? Other?
See 3 above. Another way to simply understand the proposal is that the developer is guaranteeing that a certain amount of improvements ($120
million minimum) are to be set in-place that will generate the required $49.1 million for the new school. While there are other projected TIF
dollars generated, those are not within the guarantee being provided.
i. The Developer has not included the cost of the public infrastructure in his budget but rather proposed that
the Township fund the road improvements. In one proposed scenario, TIF monies would first be used to fund
FHSD debt service for a new high school. Any additional TIF funds would be committed to reimbursing the
Developer and/or individuals associated with Continental Real Estate for their personal guarantees before
Anderson Township would receive any TIF proceeds. In what sequence will the TIF funds be reimbursed to
the Forest Hills School District, guarantor, and Anderson Township? Do the individuals and/or companies
providing guarantees expected to be paid back and if so, when? After the FHSD but before Anderson Township?
See 3 above.

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6
How do you think the new development at the Forest Road site will impact the surrounding residential
neighbors?
The new development at the Forest Road site will positively impact the entire community. The limited neighbors across from the development
on Forest Road will see significant increase and demand for their properties, perhaps as medical/professional offices rather than residential.
The new development will provide much-needed services to Anderson such as office space, hotel, senior housing, and upscale apartments. All
of the aforementioned spaces are lacking within the area. It will also provide an opportunity to connect New Five Mile Road with Forest Road
to create a centralized downtown Anderson connection. A second connection to New Five Mile Road, in addition to that on Beechmont Avenue,
will encourage consolidated growth along the already commercialized New Five Mile Road. This commercial densification will help protect
residential areas along Old Five Mile Road and South of Forest Road from creeping commercial development.

The new development will create local jobs and introduce new tax payers. Bolstering the existing tax base will help support the entire Township.
A centralized commercial district within Anderson will be an attractive destination for residents. In addition, densification of commercial property
will protect local residential communities. These two factors will contribute to raised property values in the surrounding neighborhoods and
potentially instigate future residential development.

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How do you think the new high school will impact the residential neighbors both in Anderson Township and
the City of Cincinnati, which are in the vicinity of the park?
The new High School campus will have more amenities for the residential neighbors surrounding the Beechmont Avenue site. The campus will
have more walking trails (.9 miles), and playing fields than before. The RecPlex will continue to host a variety of services, amenities and events
available to residents from its updated facility. In addition, there will be value added through shared services between the park and the high
school, including more parking for games and events such as Anderson Days.

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