HILL AFB WEST SIDE DEV March 15, 2007

1. HILL AFB WEST SIDE DEVMarch 15, 2007 • HILL AFB BUSINESS AND TECHNOLOGY PARK • Enhanced Use Lease (EUL) Explained • Phase I Explained • Air Force Retains Ownership to the Land • Developer, Sunset Ridge Development Partners retains ownership to the facilities it builds • Clearfield City provides Fire, Police and Utilities • Clearfield City receives Sales Tax Revenue if

2. HILL AFB WEST SIDE • HILL AFB BUSINESS AND TECHNOLOGY PARK Con’t • Win-Win-Win Program • 50 Year Lease • 550 Acres Business and Technology Park • Recommended Uses: • Office Space • Retail Space • Hospital and Medical Facilities • Laboratories – Research and Development Facilities

3. HILL AFB WEST SIDE • Enhanced Use Lease (EUL) Explained: • http://projects.pirnie.com/hill%5Fafb%5Feul/ • The Department of the Air Force, through the United States Air Force, the Air Force Real Property Agency, and Malcolm Pirnie, Inc., are pleased to announce an enhanced use leasing opportunity for the West Side Development Project on Hill AFB, UT. • The project is a real estate ground lease transaction involving approximately 550 acres of developable land at Hill.

4. HILL AFB WEST SIDE • The project land is located along the west side of Hill virtually adjacent to Interstate 15. • The Air Force is seeking to enter into an agreement with an offeror to develop one or more phases of the land. • The essence of the agreement will be a commitment by the Air Force to enter into an initial ground lease having a term that will not exceed 50 years. • The Sunset Ridge, successful offeror, will enter into one or more additional ground leases of the same or similar term conditioned upon satisfactory performance under the initial ground lease.

5. HILL AFB WEST SIDE • EUL Completed in Phases • Phase I • Construction will begin Near both I-15 Exits • Only 150 Acres will be developed in Phase I • AF Fence Line relocated • Security Gates relocated • Public Access outside Air Force Boundary • Air Force retain Ownership to the Land • Developer owns the buildings it builds • Clearfield City provides Police, Fire and Utilities

6. HILL AFB WEST SIDE • Business and Technology Park • The Enhanced Use Lease provides new Contract language and provides Clearfield City with 550-600 acres. • Clearfield City generally won’t collect Revenue from Business or Technology Office Parks. • Clearfield City adds HILL AFB Base Housing, 300 + Rental Properties to City Population. • New Office and Retail Facilities increases population. • New Population in Clearfield City spends money on Goods and Services.

7. HILL AFB WEST SIDE • http://www.safie.hq.af.mil/afrpa/index.asp • Air Force Real Property Agency Web Site -AFRPA acquires, disposes and manages all Air Force-controlled real property worldwide - Programs Include: - Enhanced Use Lease (EUL) - Base Realignment and Closure (BRAC) - Active Installation Real Estate - Freedom of Information Act (FOIA) • Preview McClellan Park and San Antonio latest information • Preview Industry Day

8. HILL AFB WEST SIDE • http://www.safie.hq.af.mil/afrpa/index.asp • Air Force Enhanced Use Lease (EUL) Program - An Enhanced Use Lease, or EUL, is an opportunity for the Air Force to capitalize on underutilized assets, including real property, by leasing them to private entities. • EUL is an innovative business practice the Air Force is exploring to return value its Airmen and the American taxpayer. • EUL provides a Win-Win Environment for everyone

9. HILL AFB WEST SIDE • EUL BENFITS • Cash or in-kind proceeds can be used to restore and modernize installation infrastructure. • In-kind consideration proceeds can be used toward construction of new facilities, maintenance and improvement of current facilities, addressing natural infrastructure needs and payment of base operating support. • At least half (50 %) of all cash proceeds from the EUL will be allocated to the Air Force Installation • At lease half (50 %) of all proceeds will be used to develop new office space and the developer owns the facilities it builds.

10. HILL AFB WEST SIDE • OPPORTUNITIES OF EUL PROJECTS • Underutilized assets on Air Force installations have limitless potential for EUL projects. These assets can bring numerous opportunities for: * Office space * Flight line and hangar facilities * Warehouses and industrial buildings * Laboratories and research and development facilities * Energy co-generation plants * Hotels and temporary lodging * Hospitals and medical facilities

11. HILL AFB WEST SIDE • Transportation Solutions - Transportation People Movers could also benefit MidTown Village, Legend Hills, and Newly Developed Restaurants next to Clearfield Cities UTA Rail Station and transport population throughout the City. - This is a Great Blessing if we develop proactive Transportation people movers to transport Hill AFB Employees and population from the Clearfield Rail Station to enjoy the new Business and Technology Office Park. • Propose a new one way entry onto I-15 Southbound on 650 N to move traffic more effectively. - Clearfield City has an Transportation Problem and needs change today!

12. HILL AFB WEST SIDE • In Closing: • The HILL AFB West Side Development can become a wonderful acquisition to Clearfield City if the EUL Contract is executed properly. • Clearfield City Legal needs to review the Enhanced Use Lease (EUL) Contract. • Air Force receives 50 % of the Revenue and retains ownership to the Land! • Sunset Ridge Development Partners will own the Facilities it develops! • Clearfield City will provide the Fire, Police and Utilities associated with the acquisition of the 550 + Acres. • Clearfield City will enjoy all revenue received from Office and Retail Space. • Will Clearfield City receive a Return on Investment (ROI)? • AF Retains the Land Ownership and EUL may be renewed in 50 years.