Land Development Process 4/13/2015 Carma Calgary Land 2007 1 Introduction • General Overview of – Responsibility – Processes • Planning, Acquisition, Engineering • Goals • Please ask questions!! 4/13/2015 Carma Calgary Land 2007 2 Pre-Acquisition Situational Analysis Option 2 Option 1 Option 3 Property Investigations The Market Situation The Legal Situation The Financial Situation The Physical Situation The Policy Situation 4/13/2015 Carma Calgary Land 2007 3 Land Acquisition • Market Research and Needs Assessment driven from Strategic Plan • Site Selection and Pro Forma • Offers to Purchase (Carma prepared) / Purchase and Sale Agreements (Lawyer to Lawyer) • Due Diligence – Typically 45-90 days (Engineering, Geotech, Traffic, Planning, Environmental, Pro Forma, Leases etc.) • Land Purchased and Transferred • Lease Agreements (Farming, utilities, cell towers etc.) transferred. 4/13/2015 Carma Calgary Land 2007 4 The Acquisition Phase • Financial Pro-forma – Financial modeling to determine value of land based upon: • Sales expectations include both timing and price • Cost estimates including timing and price • Risk / Return based upon industry or corporate expectations. 4/13/2015 Carma Calgary Land 2007 5 Pro-forma – discounted cash flow method 4/13/2015 Carma Calgary Land 2007 6 Phases of Land Development • • • • • • 4/13/2015 Pre-acquisition Acquisition Questions ???? Planning and Approvals Physical Development Marketing and Sales Carma Calgary Land 2007 7 Planning and Approvals Process • • • • • • • • Regional Policy Plans – (City Document) but background typically supplied by landowners. Area Structure Plan (ASP) Preparation (City Document) Outline Plan and Land Use (Developer Application) – Typically 614 months depending on size and complexity of application. Negotiations CPAG Detailed Team Review conditions of approval CPC (Calgary Planning Commission) approval City Council approval Celebrate!! 4/13/2015 Carma Calgary Land 2007 8 Policy Levels The Provincial Level The Municipal Level The Sector Level The Community Level The Sub-Community to Subdivision Level 4/13/2015 Carma Calgary Land 2007 9 4/13/2015 Carma Calgary Land 2007 10 Sales and Marketing Strategic Physical Development Internal Production/Sales Planning • • • • Sales Continuity and Phasing Plan from Business Plan Preliminary Lotting Plan Approval for Individual Phases Finalize Lotting Plan Engineering Program 4/13/2015 Carma Calgary Land 2007 12 Engineering Process • Preliminary Engineering and Landscape Design submission • Preparation of Cost Estimates and Tenders • Preparation of Phase Indemnity Agreement and Bonding by Developer • Request Standard Development Agreement “Special Clauses” • Preparation of Tentative Subdivision Plan and Submission to City for Approval • Review Tentative Plan CPAG (Corporate Planning Applications Group) conditions of approval • Architectural Controls Development Permit (if required • Shallow Utility Design and Approval • Final Engineering and Landscape Design Submission to City for Approval 4/13/2015 Carma Calgary Land 2007 13 Engineering Process • Preparation and Award of Carma Project Approval – Internal Carma Approval • Site Grading • Preparation of Legal Documents and Submission to City. • Submit Final Subdivision “Linens” for Submission to City for final approval. • Submission of City approved linens to Land Titles for registration • Final Addressing approved by City • Underground Utility Permission and Installation • Builders Packages (legal survey, urw, building grade plans, surface info plan) • Obtain Building Permits (after testing and Fire Marshal Clearance) 4/13/2015 Carma Calgary Land 2007 14 Servicing • • • • • • • • • • • Rough Grading Underground Utility Permission and Installation Obtain Building Permits (after testing and Fire Marshal Clearance) Builders Packages (legal survey, urw, building grade plans, surface info plan) Sale of Lots to Builders Grade Slips Issued to Builders Surface Approval from City Concrete Surface Improvements Asphalt Surface Improvements Installation of Shallow Utilities and Energizing (can occur prior to surface improvements) Landscaping 4/13/2015 Carma Calgary Land 2007 15 Sales and Marketing Tactical CCC/FAC Process • CCC inspection conducted by City and Developer representive after construction • Some CCC inspections can be self inspected by Consultant (underground) and submitted for approval. • Issuance of CCC triggers start date of warranty period • Warranty Periods – Underground – 1 freeze/thaw cycle – Surface – 2 freeze/thaw cycles (minimum 75% buildout of phase required to issue FAC) – Landscaping – 1 year – End of warranty period – inspection conducted, maintenance performed (concrete, toplift asphalt, etc.) – FAC issued – Bond reduced or returned when final as builts submitted and approved by City. 4/13/2015 Carma Calgary Land 2007 17 Phases of Land Development • • • • • 4/13/2015 Pre-acquisition Acquisition Questions ???? Planning and Approvals Physical Development Carma Calgary Land 2007 18