Site Analysis

GENERAL DESCRIPTION

Land Area

The subject site contains 2,700.00 acres, or 117,612,000 square feet of land area.

Topography

The site is rolling terrain. The topography does not appear to bear any development limitations.

Drainage

No drainage problems were observed at the time of field inspection, and none were disclosed to the appraisers. Please note that this feasibility study assumes that surface water collection, both on-site, off-site and in public streets adjacent to the subject, is adequate.

Environmental Hazards

An environmental assessment report was not provided for review, and during our inspection, we did not observe any obvious signs of contamination on or near the subject. However, environmental issues are beyond our scope of expertise. It is assumed that the property is not adversely affected by environmental hazards.

Ground Stability A soils report was not provided for our review. Based on our inspection of the subject and observation of development on nearby sites, there are no apparent ground stability problems. However, we are not experts in soils analysis. We assume that the subject’s soil bearing capacity is sufficient to support the subject improvements. Furthermore, it is our understanding that the subject site is not located in a seismic zone.

Utilities

Parking

Utilities are near the site, and will need to be extended. grant money is being secured to help offset this cost.

Surface parking; adequate spaces. Separate storage area (parking) for trailers and equipment, helping to improve the arrival and departure process and maximize resort aesthetics.

Other Land Use Regulations

We are not aware of any other land use regulations that would affect the property.

Easements, Encroachments and Restrictions

There do not appear to be any easements, encroachments, or restrictions that would adversely affect value. Our valuation assumes no adverse impacts from easements, encroachments, or restrictions, and further assumes that the subject has clear and marketable title.

CONCLUSION OF SITE ANALYSIS

The subject site enjoys good access due to positioning of its main welcome center 1.5 miles from an entrance to Interstate 77. In Phase 3, the subject resort will also be accessible from downtown Bluefield via gondola. Visibility is average for a resort, and much of the property will offer views of the surrounding area.