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HomeMy WebLinkAbout04/28/15WRH'A Wheat Ridge Housing AuThority AGENDA April 28, 2015 LOBBY CONFERENCE ROOM 4:00 P.M. A. Call Meeting to Order B. Roll Call C. Approval of Minutes: February 24, 2015 D. Officers Reports E. Public Forum F. New Business G. Old Business 1. Single Family Home Update 2. Fruitdale School Update 1. Election of Officers 1. Adjournment Individuals with disabilities are encouraged tee anticipate in all public meetings sponsored by the City of Wheat Rid, e. Call Heather Geyer, Public Information Officer at 303-235-28.26 at least one week, in advance Qf a meeting '/'y , you are interested in participating and need inclusion assistance. AA0r%bI, NMIIA Wheat Ridge Housing Authority Minutes of Meeting February 24, 2015 The meeting was called to order at 4:02 p.m. by Chair I Chambers of the Municipal Building, 7500 West 29"' A B. ROLL CALL OF MEMBERS Authority Members Present- Thomas Abbott -bad Harr 0 Authority in the City Council teat Ridge, Colorado. Also Present: La4in Mikulak, Senior Planner Kenn 0", Johnstone, Community Development B6`tty�,Maybin, Cornerstone Realty Ann Wang, Accountant Kim Waggoner,Recoi -ding Secretary January27,2015 Mr.Thomas recluied1:to strike the following fi-orn page 4, paragraph 6. "Ms. Langworthy if she would like." 11111 till CWKII WIFIIIIIVII��Jj Housing Authority Minutes February 24, 2015 In 19 M OFFICERS REPORTS There were no officers' reports. rzffik��] No one wished to speak. NEW BUSINESS 1. 2015 Budget An amended budget was provided to the due to the purchase documents for the pt reviewed the project lists, general expen Chair Thompson inquired about the Wang stated it is the same amount t could be used for conference registi they could also be used for working could be utilized for a retreat. Mr. Harr inquired about the city rein reimbursement to the City for staff h herself and the Recording Secretary. provided before she left the City and reimbursement. Qs; "W,ang stated there was an update Otis" treet and 44"' Place. Ms. Wang ected iric6w, and meeting budget for the 2015. Ms. 2014. Ms. Mikulak Indicated these funds iuthority members. Mr. Johnstone stated ,tig Ms. Langworthy stated the funds t line item. Ms. Mikulak stated it is aced to the Authority including hours for I Ms. Payne's hours for 2014 were not are not included in the 2014 Mr. Harr inquired about the line item for repairs. Ms. Wang stated previously there were expenses for Fruitdalc but there were none for 2014. Ms. Mikulak stated in the past there had been some repairs on the sold rehabilitated homes that were paid for by the Authority. It was moved by Ms. Langwortby at amended proposed budget for 2015. Motion approved 4-0. OLD BUSINESS seconded by Mr. Abbott to approve the 1. Update on Single Family Homes Rehab and Sales Ms. Mikulak stated Mr. Werhdt is out of town. There were no issues with the asbestos report. The first two building inspections are complete. A third of the contract amount has been paid out to the contractor. Housing Authority Minutes February 24, 2015 10 Chair Thompson stated she stopped by the property today. She said the kitchen cabinets have been removed, the plumbing is in, and the wall patch work is complete. The wall texture throughout the home matches. The French doors have been removed and the living area is now open. The cabinets were removed from the laundry room. The contractor is aware of the time restraint and is diligently working to get the remodel done by the March deadline. He is focusing on the internal items first which are required to pass inspections. Ms. Maybin stated a potential purchaser is very interested in the property. She stated that finding an income qualified buyer is a challenge at with, ,$ price of $240,000. ...... I . .. . 2. Fruitdale School Ms. Mikulak reminded the Authority of the Fruitdale School. At the last meeting the A purchase contract by 30 days allowing thel' time to complete due diligence and commit had been securing insurance. The FBC rect withdrawing their proposal and seeking to ti decision made by Mountain Phoenix Charte Fruitdale building for future Of�*Oom, Chair Thompson expressed proposal. OEM== 0" "'Oft elated I ed to the pending sale of had i ", i#q, a motion to extend the itdale BuilditiMcirporation (FBC) more closing. Their p171" y concern at the time ly notified staff thaf4f,"e'' would be ,iinate the purchase cdn stat t based on a MEMEM she is excited about the new e School. She stated it would have been a great economic and seconded by Mr. Harr to terminate the of Real Properq,, dated October 28, 2014 and School Property at 10803 W. 44"' Avenue for the their proposal. Ms. Mikulak stated a recent article in the Denver Post generated more interest in Fruitdale School. She described a third proposal that had been received in July 2014 in response to the RFI from Hartman Ely Investments, The proposal was received before the RFI deadline, however, the applicant did not meet the original RFI requirement for a mandatory site visit and was deemed not eligible for full consideration. The staff memo provided for the July 22, 2014 meeting suggested that the Hartman Ely proposal could be considered fully if the Authority determined neither of the two eligible applicants were Housing Authority Minutes 3 February 24, 2015 worthy of further consideration. The Authority is now in a position to consider the proposal. The original proposal from Hartman Ely was provided in the packet. Staff recommends allowing the applicant time to refine and prepare a more detailed proposal to present to the Authority. Ms. Langworthy asked if the applicant was aware of the lack of systems with the building. Ms. Mikulak stated he has not toured the building yet but has expressed that he has worked with vacant buildings in similar conditions. He is aware of the financial requirements. Mr. Harr stated perhaps the Authority should consider preferred possible uses while the applicant prepares a proposal. He would like to see some market rate housing which would benefit the area. There was some discussion about the reverter clause. Ms. LangNvorthy wanted to ensure the applicant has reviewed the financials and knows how much of an investment the, project will require. In response to Mr. Harr's inquiry, Mr. Johnstone stated the building is about 15,000 square feet. Ms. Mikulak stated the market study, It ' istoric structure, assessment, construction documents and, the original RFI are all on the website and tile applicant has access to them. ME une, innovation, his admiration for historic condition. Mr. Abbott and Chair Thompson stated they would like to move forward allowing Hartman Ely to refine and present a proposal. Chair Thompson allowed a member of the public to speak. Deb Bollig 4786 Flower St. Ms. Bollig stated she is on the committee that had submitted the proposal for the Wheat Ridge Education Center for Arts in July 2014. She asked if the proposal was a viable project. Chair Thompson summarized the Board's discussion and findings from their July 2014 meeting and review of the original RFI responses. She indicated a central difference among the proposals was that the school proposal provided reliable revenue streams and the arts center proposal did not. Housing Authority Minutes 4 February 24, 2015 Ms. Mikulak concurred. Ms. Bollig stated the committee could not commit to a ftind raising effort until project confirmation was received. She stated some investors have been approached who would like to put their name on the building or rooms and asked if they should submit another proposal. Ms. Mikulak stated the Authority currently has two options. If they decided to review the Hartman Ely proposal exclusively then she would not recommend that the arts center prepare a new proposal. If a new RFP is issued in the future, that would be a good time to submit another proposal. Ms. Bollig agreed that the school was the highest and best use. She stated that the reuse of Fruitdale presents all opportunity for01b`,'bafld together and work toward creating P-11( something; they are proud of Itmay ng eU,wtl the financial reality. Ms. Langworthy stated it is challenging is very controversial. The arts center pr more of an action plan. The school prof The Authority is looking for a group tha associated with the reuse of the vrovertN Ms. Bollig stated Hartman Ely could do a well versed in historic reuse and may be a Mr. Abbott stated it seems M. Bollig is bow to fix them. He suvri!csted thev con NM them. He stated be � for a Parks Depart body ,,,eople to move together unless it !,ould, pbeen more appealing if it had V block and it could not go forward. escvl TOO, e significant challenges iortby stated he seems roadblocks. of the art center proposal's deficiencies and leveloper to discuss a partnership. proposal and suggested that Ms. Bollig should by someone regarding a potential reuse of the Mr. Johnstone stated there has been no recommendation to include the Fruitdale building in the Parks and Recreation Master Plan. The City does not have the funds to renovate the building. He commented on the funding gaps that make redevelopment difficult. Reuse proposals will need to have the ability to apply for philanthropic grants or other federal grants and will need to have access to reasonable and reliable funding sources. The charter school was eligible for philanthropic grants that were aligned with their mission. A housing project would generate revenue via rent. An ongoing benefactor would be required for project without clear revenue streams. There was some discussion about the Wheat Ridge Recreation Center and how it operates financially. Ms. Thompson stated those kinds of uses have some tax subsidies. She stated the city cannot financially assist the reuse of Fruitdale. She stated the preliminary Housing Authority Minutes 5 February 24, 2015 Hartman Ely proposal does not request any assistance from the city. The arts center requested assistance with writing grant proposals. Craig Horlacher 10720 W. 45"' Ave. Mr. Horlacher stated he agreed with the memo in the packet. He asked if Jefferson County Schools had an opinion on the reuse of the property as a public charter school. Ms. Langworthy stated Jeffco Schools probably will not support it since they chose to sell it, Mr. Horlacher stated be was not sure that affordable housing would fit in the building. He suggested office space. fie also suggested the reverter clause be dealt with to make the building more appealing to buyers. Chair Thompson stated a new developer may have the resources to deal with the reverter clause. Mr. Harr stated the developer may come up with a creative use such as livable artist lofts and artist studios for education. Ms. Langworthy would like to see a refined proposal from Hartman Ely before implementing conditions, Mr, Harr aarced with Ms. Langworthy. Chair Thompson stated there are a currently limited number of homes for sale in the Denver metro area: Ms. Ma bin agreed. Discussioncontinued about previous development in other areas, risk associated with ad'aptive reuse, impacts on the neighborhood, and possible expansion of the property to the vacant land to the reit of the building, It was moved by Ms. Langworthy and seconded by Mr. Abbott to provide an exclusive'60 days to I-larkinan Ely Investments for delivery of a refined proposal for the reuse of Fruitdale School, with the ability for the Executive Director to grant up to two 30 -day exUnsiotm ammma= Mr. Johnstone stated a study session is on the radar for future projects. Ms. Mikulak added the budget will also need to be reviewed for future projects. Housing Authority Minutes February 24, 2015 z It was moved by Ms. Langworthy and seconded by Mr. Harr to adjourn the meeting at 5:14 p.m. Motion carried 4-0. Next meeting is scheduled for March 24, 2015. �anice-T-h-om---pson, Chair -- Kim Waggoner, Recording Secretary Housing Authority Minutes February 24, 2015 h Aae"%h6 Var _IMK_ WR Wheat Ridge Housing Authority 7500 W. 29 th Ave. Wheat Ridge, CO 303-235-2846 To: Chair and Members of Wheat Ridge Housing Authority From: Lauren Mikulak, Senior Planner Subject: Proposal for Reuse of Fruitdale School Date: April 23, 2014 (for April 28 WRHA meeting.) At the February 24, 2015 meeting of the Wheat Ridge Housing Authority, board members made a motion to provide an exclusive 60 days to Hartman Ely Investments (HEI) for delivery of a refined proposal for the reuse of Fruitdale School. Enclosed is a copy of the reuse proposal that has been provided by the developer. Representatives fi-ona HEI will be in attendance at the April 281h meeting to present their redevelopment proposal and to answer questions. The developer has confidentially provided to staff a proforma for the project that outlines anticipated costs and proposed financing. HEI has assumed they will complete design work in-house at no cost. Even with this assumption, they anticipate a gap in financing. For this reason they are proposing to purchase the property for a nominal fee. The proposal depends largely on a successful land swap with Jefferson County Public Schools. Staff has initiated conversations with the school district and will pursue this further if HEI moves forward with the proposal. � �. � �RUiTi�AiE {C•16NNi. -�7f_ {Syµ [M/1bT u1 �Nµ71n/y� t'iI WIGSY1.Q17A u.c }lyli i 37�� or F r Letter of Intent to create the Wheat Ridge Urban Agriculture School and a Sustainable Community Gardening Center HEI Hartman Ely Investments LLC 2120 Bluebell Avenue Boulder CO 80302 720-333-0110 March 19, 2015 City of Wheat Ridge Wheat Ridge Housing Authority Mr. Kenneth Johnstone Ms. Lauren Mikulak 7500 West 29``' Avenue Wheat Ridge, CO 80033 Re: Fruitdale School Redevelopment Letter of Intent Dear Ken and Lauren, I am writing to follow up our recent discussions and provide this Letter of Intent (LOI) for the redevelopment of the Fruitdale School property at 10801 West 44`h Avenue in Wheat Ridge. Hartman Ely Investments (HEI) proposes to build on the City's national reputation as a leader in urban agriculture and transform this property over three initial phases into the Wheat Ridge Urban Agriculture School and a Sustainable Community Gardening Center. After further market analysis, a future fourth phase is planned to renovate the 1926 portion of the school building into a comtnercially viable use that supports the School and Center. Please refer to the enclosed concept design drawings for details. Our proposed redevelopment process would be: Initial Redevelopment Planning, Feasibility Analysis and Property Purchase (March 20,2015 -March 1, 2016): A. Receive City feedback on this LOI, ideally by April 20, 2015. B. Assuming that the feedback is positive and that City supports this overall proposal, the first step of the redevelopment would be to have the City extend our exclusive analysis time to August 31, 2015 (two additional months beyond the current 60 -day plus two potential 30 -day extensions). That would allow the necessary additional time for our initial due diligence investigations, market research and a more detailed financial and feasibility analysis of all phases. C. If the results of our more detailed financial analysis are positive, HEI would then establish Fruitdale School Partners LLC (the "LLC") on September 1, 2015 as the redevelopment entity that would purchase, redevelop and operate the school. That entity would negotiate and execute a mutually agreeable Purchase Agreement for the property during the fall of 2015, complete detailed due diligence/market research during the winter of 2015/2016 and purchase the property for $1 on March 1, 2016. D. The Purchase Agreement would include a land swap with the Jefferson County School District for the site areas shown on the Phase Two Site Plan. E. After the Purchase Agreement is executed, as part of our detailed market research, we would like to install a marketing banner at our cost on the existing fencing along 44`h Avenue. The banner would act as a highly visible "Billboard" to help receive additional public input on our redevelopment plans and provide additional public relations benefits to the City. F. HEI would also create a website for the property that would provide important information and attempt to generate additional community interest in and support for the overall redevelopment. G. Please note that the enclosed budget and profoma are confidential, preliminary and that costs, revenues and estimated operating expenses will likely change during a more detailed redevelopment analysis. H. Also, please note that our current financial analysis shows a financial "gap" of approximately $50,000. That gap is shown on the proforma as a cost credit that allows a 15% cash on cash return for the invested equity. Our experience is that we will need to have a return of at least 15% to get construction financing for a relatively high risk redevelopment like this. I. In an effort to assist with overall financial feasibility, HEI is also not charging any concept design or development management fees or costs to the enclosed budget (this donation of our professional fees is a substantial savings as compared to typical developments). 1. Implement Phase One (March 1.2016 -September 1, 2016)• Our first on-site activity would be to work with our proposed Tenant, Altius Farms, to establish an open-air temporary community garden at the southeast corner of the property. The temporary facility would produce a substantial amount of food during the 2016 growing season using the Tenant's highly efficient and sustainable vertical tower farming methods, concurrent with the renovation/construction work of Phases Two and Three. Vegetables would be harvested from the facility approximately every 21 days. Please refer to additional information on the Tenant and their innovative farming methods at the end of this LOI. The vertical towers would be moved to the interior of the School or a greenhouse during subsequent phases. 1.2 The Phase One marketing plan would include a redevelopment kickoff event when the first vegetables from the grow towers are ready for harvest. This event, the Billboard and ongoing market research efforts would provide substantial public relations benefits for the City. The long -vacant and blighted Fruitdale School property would finally be on its way to a viable new use. 1.3 Final construction drawings and permits for Phases Two and Three will also occur during Phase One. 2. Implement Phase Two (September 1, 2016 -March 1, 2017): 2.1 The general scope of Phase Two is to re -use the existing 1954 portion of the Fruitdale School to grow vegetables and educate the public about urban agriculture and related issues as noted herein, as well to create a fruit orchard at the southeast corner of the site. The 1926 portion of the Fruitdale School would remain generally as -is but the existing plywood would be removed from most or all of the existing windows, so that the building appears much more attractive and less blighted. 2.2 The central display area shown on enclosed drawing 2.1 would be a great spot for information on the historic Fruitdale School, architect Temple Buell, this phase and future phases of the overall facility. 2.3 HEI would work with Altius Farms and Operation Victory Gardens (OpVG) as the Tenant of the Phase Two interior and exterior areas. OpVG is a non- profit organization that re-trains military veterans and educates community members on the benefits of urban agriculture. OpVG would create their National Training Center at the Fruitdale School. HEI also plans to work with Agriburbia for the installation of fruit trees and bushes at the southeast corner of the site, creating an orchard that gives further meaning to the namesake of Fruitdale School. 2.4 HEI would work with the City, the School District, OpVG, Altius Farms, Agriburbia and other interested Wheat Ridge organizations/community members to create a mutually agreeable urban agriculture education program for the Wheat Ridge Urban Agriculture School. The intent of that School is that it would exist as long as some of the overall property is involved in community gardening efforts, ideally in perpetuity. The programs and classes offered by the School would ideally be free or low cost, providing substantial public benefits (with preference given to Wheat Ridge citizens). 2.5 HEI proposes that the City provide assistance to the overall redevelopment effort as noted below: 2.5.1 The City would be a minority Member of the LLC (ideally 0.0 1 %), so that the overall property would not have a property tax obligation in perpetuity, in trade for the facility providing the public education benefits noted above. 2.5.2 Any City fees for any required re -zoning of the property would be waived. 2.5.3 The City would provide funding for an environmental Phase 1 report (and a Phase 2 report if deemed necessary by the results of the Phase 1 report). 2.5.4 The City would facilitate reasonable building and fire code solutions for the proposed building renovation with the appropriate Regulatory Officials. 2.5.5 The City would verify if there are any Business Improvement District, Business Enterprise Zone or similar economic incentive programs that could apply to this redevelopment. 3. Implement Phase Three (September 1, 2016 -March 1, 2017): 3.1 The existing house at the southwest corner of the property would be removed. 3.2 HEI and the Tenant would work together to construct and operate three greenhouses at the northwest and southwest corners of the overall property, to produce additional vegetables for commercial use. Each greenhouse would be approximately 5,000 SF and utilize the Tenant's innovative vertical farming techniques. 3.3 Additional site improvements to supplement the greenhouses would be as shown by the Phase Three Site Plan. 4. Implement Phase Four (future, as market conditions permit): 4.1 The general scope of this phase would be to identify and implement a viable new use for the original 1926 portion of the Fruitdale School. 4.2 Potential uses include residential units, office space or other space that HEI and the community feel would be most appropriate. 4.3 The start of RTD's light rail service to this part of Metro Denver via the Gold Line should assist with the implementation of this phase. Please let us know your thoughts on this LOI at your convenience and if you have any suggestions for improving our proposal. We look forward to solving the current financial gap and working with the City to implement a successful redevelopment of the Fruitdale School for the benefit of the Wheat Ridge community. Sincerely, HARTMAN ELY INVESTMENTS LLC James Hartman Manager Encl: Concept design drawings dated March 18, 2015 Altius Farms and Operation Victory Gardens information U11 w �I� (YDS yGtfoy�. -5th Pc,�t � isnr.►� -3 v ' or 5or • t t� i7L f R •`I mrs( fAW7MLL PALStAOOL ' C .. Irjrk&u Ic •• •. wnr •i 1 z. ar nm�o a.x .�, rcre,.a rtca r;tr..rer , •.• .• . Y �b • r SJdItACL' SNl crnr•c n ! ��� - . AO� LAOArAMYc !A N � • ... _ . _ o••wbs.a AAAI L7LerIsc DW Avc ot 87M" rrrn ?t e � 'wY.n / v IJMMOIrAYi % ' MntrSrlA rj ;. .. t. ; ...unur wrr H•eiL I nAAuarc rMa- 0 - — -- - -- - - 44 441N AVENUE - - - - -- ---- . _ — — pmr uwnai rl RP ;N# am U11 w �I� (YDS yGtfoy�. -5th Pc,�t � isnr.►� -3 v ' or 5or • t t� c�acceLO' -4-- R v i -r >A L4--- 5 ci46 L. - Pr-Pli }tA.�.,-�•�►,n.�1 �.-�( INt�'rist3E�tth L.c-�i 3.18.15 of FAWN= raaidstt wc.Iu n _ • \ ' ' .0a9 urp •� ` +[V040 /lea "ImsLY , 4 j •• •• �r • I� M.Si rr. d�lrJllftR AM 1. 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Employing our nation's Veterans and educating communities. Local Food Matters The return to a locally -sourced food economy is here to stay and it is growing (USDA). Locally -grown food is a mainstream trend altering the competitive landscape and opening doors to local farms that can reliably produce high-quality fruits and vegetables for restaurants, consumers and grocery stores. Most states are net importers of their food -- Colorado imports 97% of its leafy greens -- and when long -traveled greens arrive, the nutritional value and freshness has been significantly degraded. Driven by consumer preferences, restaurants and grocers lament the lack of access to local produce. Industrial agriculture comes with inherent challenges and negative trade-offs such as land -water -soil degradation, chemical inputs, transportation costs and carbon footprint. The cultural food evolution is natural, non-GMO, fresh, clean, and local, local, local. Our mission is sustaining and scaling locally grown food through an approach that is socially responsible, technologically advanced, and economically profitable. The Need There are social and environmental challenges -- local, national, and global -- regarding local food. Restaurant and consumer demand far exceeds the supply of fresh, locally -grown food, produced and available year-round. Urban agriculture has been ineffective in scaling locally -grown food to a meaningful level. Consumers are increasingly interested in food produced in their local communities, motivated by a variety of issues including support for local farmers, concern about "food miles", and improved freshness and quality. Colorado's potential consumption of produce exceeds $2.613 annually. There is a food -trade deficit and the economic benefit of creating enduring local food economies is not being realized. To put Colorado's supply-side deficit in perspective, if 25% of Colorado's annual food consumption were purchased in-state, it would create: more than 31,000 new jobs, an increase of $1.3 B per year in wages and $2.213/year in Colorado's GDP, and generate $198M per year in tax revenues (Transition Colorado's Local Food Shift report). By 2030, the global middle class is expected to grow by two-thirds, necessitating by 2050, a 50% higher yield from existing produce growers. Both conventional outdoor farming and traditional greenhouse farming rely upon an increasingly unpredictable environment and unlimited "horizontal" growing space. There is an aging rural farming population and farms are not often handed down within a family. Status -quo agricultural productivity will decline significantly in densely -populated areas. Thus, there is pressing demand for new, innovative solutions to address the needs of people, the planet and local profits (Syngenta's report). Our Solution Altius Farms elevates people, planet and profit, with its triple bottom line business model. Altius Farms brings together a team of talented and committed partners along with patented green -growing and greenhouse farming technologies with sites located in urban communities hungry for fresh produce. Altius Farms delivers a healthy and meaningful ROI. Altius will deploy as follows: 2 Greenhouse Features. Altius uses state-of-the-art, radiant -floor, energy efficient, roof -ventilated greenhouses with patented aeroponic vertical growing technologies called Tower Gardens TM by Future Growing, LLC, the world leader in aeroponic food farms. (Aeroponics is the process of growing plants in an air or mist environment. Unlike hydroponics, which uses water/minerals as growing medium to grow plants, aeroponics is conducted without a growing medium). The Tower Garden iechnolop7 uses 90% less water, 90.1 less space and produces 10 times the yield of conventional farming. There are 300 Tower Garden Farms �► nationally. The efficiencies of this technology, coupled with the optimal e growing environment, non-GMO, pesticide -free environment provide substantial community benefits. ; ,National Training Center. Altius Farms has partnered with a not-for-profit organization, Operation Victory Gardens (OpVG). OpVG will train America's military veterans in sustainable and scalable local food production. In r, partnership with Altius Farms, OpVG will also host agrotourism and community education classes. f The Altius greenhouse design maximizes the number of Tower Gardens for the space, will allow Altius to grow seedlings with which to populate the Tower Gardens after each harvest cycle. and produce seedlings to sell to Tower Garden's residential customers. Production "vital statistics" are: • Hundreds of Tower Gardens with thousands of plants growing concurrently • Approximately 15 to 18 growing cycles per year 4 2.5' • • Crops: Arugula, kale, mixed salad greens, basil, parsley, cilantro 44 Planting Spaces • Approximately 18,000 sq ft of growing space will produce as much as –5 acres of conventional farmland • Natural gas and radiant floor heat, no supplemental lighting for exterior greenhouses—harnessing the Colorado sunshine (solar powered lighting for interior grow areas) • Produce that has higher quality of phytonutrients and minerals, and that is higher yield than growing in soil in perfect conditions (Tower Garden Yield Study, httg:/h%%%w hindawi corrvioumals/ecarn/2014/253875/) Altius Farms' triple bottom line will supply healthy local food for consumers and restaurants, employment for veterans, students and others and provide sustainable agriculture for the 21" century. In the process we will create a model for profitable expansion of our business. The Opportunity The prime customer for Altius Farms' greens will be the restaurant community who will purchase up to 95% of production. Altius will make local, fresh, high-quality greens and herbs easily accessible to community restaurants without seasonal fluctuations. Altius is working with key restaurants to understand their menu planning and will plant crops to meet the needs of their menus. All of Altius' target restaurant customers have local produce sourcing initiatives due to the variability in quality, waste, and carbon footprint of importing from other states. Consumer CSA sales are another potential market. 3 Tower Garden -style farms of all sizes across the nation are pre -selling to capacity, months before they open their doors for business. The Wheat Ridge market is ripe for the approach Altius Farms is planning to deploy. Operation Victory Gardens (OpVG) Operation Victory Gardens (OpVG) is a not-for-profit organization whose mission is train a new generation of farmers through sustainable and scalable local food production. OpVG is committed to helping veterans prepare to embark upon farming careers. A key tenet of OpVG services is recognition of the therapeutic role that agricultural work can play in helping veterans relieve the stress that often follows their release from duty. To support veterans seeking new opportunities in farming and in Controlled Environment Agriculture (CEA), OpVG has formed a working relationship with Altius Farms that will extend to Altius Farms greenhouses and others around the U.S. OpVG will offer community education in the form of tours, hands-on education and formal training courses to students, families and potential employees. OpVG will be equipped to recruit and train a workforce of CEA technicians to grow, harvest, and distribute CEA produce. The two organizations will work together to produce and sell high volumes of fresh, greenhouse grown produce in Colorado communities. Execution The Altius Farm team has experience deep and broad experience in supply chain management, health and wellness, horticulture, start-ups, sales and marketing, risk management, community development, and business modeling. Collectively, we aim to transform the way local produce is grown and distributed. Sally A. Herbert (Co-founder and CEO) Most recently, Sally was President and CEO within GSI, the largest supply chain standards organization in the world, managing 3 subsidiaries with P&L responsibility for $19 M. Sally has a demonstrated track record of leadership, balancing technology development, customer service and marketing within U.S. and international markets in both early-stage and Fortune 100 companies. Sally served in the U.S. Air Force Reserve for over 12 years to include service during Desert Shield and Desert Storm Gulf War operations. She serves on the Boards of Executive Connect/Connect Denver Foundation, Operation Victory Gardens, and is a member of the Denver Southeast Rotary Club. "\1 �N.linkedin.com/in/saherbeti. Jeff Olson (Co-founder and VP Business Development) co-founded Well Nourished Worldwide in 2000. Their mission is to deliver a new standard in health food and its business --his passion for the past 20 years. Jeff chairs the Jimmie Heuga Center Endowment and serves on the philanthropic boards of the Turn the Tide Foundation and Operation Victory Gardens. Jeff was the co-founder of the Metro Denver Health and Wellness Commission (pre -cursor to LiveWell Colorado). Prior to WNW, Jeff had careers in technology, money management and professional athletics. Jeff is a two-time Olympian, three time national champion and Pan American gold medalist. Jeff earned B.S. in finance from the University of Utah. %swtiv.linkedin.com/in/ieffol yolson. Tim Blank (Consultant/Collaborator) is the founder and CEO of Future Growing, LLC, the Tower Garden creator and 20 -year horticultural ist. Tim served as lead horticulturalist at Disneys EPCOT center for 12 years prior to forming Future Growing. ��N%.linkedin.com/nub 4 Don Dwyer (Consultant/Lead Horticulturalist/Trainer) 35-year horticultural ist specializing in global commercial and institutional (teaching, research, biotech. and conservatory) greenhouse facility design, development, and management. Don has recently returned to the US after working for the US govt. in Afghanistan on agricultural restoration projects over the past 5 years. �iww linkedin.com/oub/dun-dwver/28/b7/63/en 5 w � � i