INTRODUCTION TO RIFLE AIRPARK AND GARFIELD COUNTY AIRPORT INDUSTRIAL PARK PLANNED UNIT DEVELOPMENTS

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1 INTRODUCTION TO RIFLE AIRPARK AND GARFIELD COUNTY AIRPORT INDUSTRIAL PARK PLANNED UNIT DEVELOPMENTS MARCH 31, 2016 Offered By: Airport Land Partners Limited, a Colorado Limited Liability Corporation 312 Airport Business Center Suite A Aspen, CO

2 Overview of Airport Land Partners Lands comprising Rifle Airpark and the Garfield County PUD ( GarCo PUD ) are owned by Airport Land Partners Limited (ALP), a Colorado Limited Partnership based in Aspen, Colorado. ALP s land holdings are located adjacent to the Garfield County Regional Airport, in Rifle, Colorado. These land holdings were acquired in 1995 by ALP for cash and there is no debt on the property. Rifle Airpark is comprised of approximately 600 acres that has an approved Master Plan from the City of Rifle. The City of Rifle has indicated flexibility in developing phases of Rifle Airpark to accomodate business and economic development bringing jobs to the region. Airport Land Partners also owns an additional 400+ acres within Garfield County that has a long standing approved PUD: Garfield County Airport Industrial Complex. The county has supported specific land use entitlement updates, most recently to allow solar generating station uses. Rifle Airpark and the GarCo PUD have a well-developed infrastructure base to support future development. High voltage electrical lines, high-pressure natural gas lines and existing road, water and sewer mains provide the necessary backbone for additional land development. Xcel Energy maintains an electrical substation adjacent to Rifle Airpark. The Garfield County Regional Airport and FBOs, Colorado Mountain College, Garfield County offices and a joint fire station provide services within the immediate area. ALP has sold several parcels within their holdings to local governmental entitites and institutions. In addition, early land parcels were acquired by Garfield County for expansion of the Airport and county services.

3 Locational Attributes Rifle, Colorado Rifle is located in the center of Colorado s Western Slope and expanding business center. It s economy based upon construction, tourism and energy development. While Rifle is a third-tier market, growth in housing and employment is projected to triple the size of the community in the next ten years, and double these totals again in the following ten years. Located along I-70, Rifle enjoys good transportation access to Aspen and Vail (90 minutes), Denver (2.5 hours), Salt Lake City (5 1/2 hours), Las Vegas (8 hours) and Long Beach (12 hours). Garfield County Regional Airport (KRIL) Garfield County Regional Airport is adjacent to Rifle Airpark and is a county-owned public-use airport. FAA s National Plan of Integrated Airport Systems for categorizes the airport as a general aviation facility. It has one runway designated 8/26 with an asphalt surface measuring 7,011 by 100 feet (2,137 x 30 m). The Garfield County Airport at Rifle offers a fixed base operator, aircraft maintenance, detailing/paint shop, helicopter taxi service and limousine/rental car service. Colorado Employment Growth Rate % For the 12-month period ending June 4, 2008, the airport had an average of 22 aircraft operations per day: 83% general aviation, 16% air taxi, 1% scheduled commercial, and <1% military. At that time there were 52 aircraft based at this airport: 70% single-engine, 17% multi-engine, 12% jet, 2% helicopter and 3% glider. Intermountain 2.7% Western Slope 2.1% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% Western Slope Colorado The economic base of the Western Slope of Colorado supports a range of activities including agricultural, natural resource and energy extraction, tourism and high tech industries. Job growth has been particularly strong in Colorado and the Western Slope s intermountain tourism areas of Steamboat Springs, Vail and Aspen (Routt, Garfield, Pitkin and Eagle counties).

4 LAND ENTITLEMENT AND IMPROVEMENT STATUS Zoning/Entitlements Garfield County The Garfield County Airport Industrial Complex PUD was initially established in The GarCo PUD has been updated and amended several times through the ensuing period. Most recently, Garfield County approved the addition of certain permitted uses within designated land use districts in order to include storage and solar energy power uses within the PUD. City of Rifle The City of Rifle approved a Master Plan for the Rifle Airpark Planning Area in 2007 that established six land use zones. The purpose of the Master Plan was to establish land use districts for inclusion within the City s Comprehensive Plan as that document was updated. In 2008, the City of Rifle adopted the Rifle Airpark PUD, effectively zoning the property consistent with the previously adopted Master Plan. At the same time, the City approved an application to annex the Rifle Airpark PUD into the City of Rifle. The recordation of the annexation was followed in 2010 by City approval of a Tentative Tract Plat Map, which sets forth a prospective subdivision of the lands located within the City boundaries.

5 Infrastructure As a consequence of the development of public facilities in and around Rifle Airpark, development spurred by contributions of property by ALP, a number of major infrastructure improvements have been made to the area. These infrastructure improvements directly benefit property within Rifle Airpark and include: Improvement of Airport Road to three lanes between the western boundary of Rifle Airpark and the Road and Bridge parcel; Installation of a 8 12 sanitary sewage line providing access to most of Rifle Airpark; Installation of a 6 water line providing access to most of Rifle Airpark; Construction of a 1 million gallon water tank; Reconstruction and relocation of Airport Road at the western entrance of Rifle Airpark; Installation of sewer and water taps serving several properties adjacent to Airport Road and the Xcel substation; and, Construction and operation of an Interagency Fire Station serving the Airport and surrounding area; Commitment to reconstruct eastern portion of Airport Road connecting to Mamm Creek Road.

6 TOP 10 REASONS RIFLE WORKS! 1. PROGRESSIVE, PRO-BUSINESS COMMUNITY LEADERS 2. READY TRANSPORTATION ACCESS 3. SHOVEL-READY LAND OPPORTUNITIES 4. WELL-MANAGED COMMUNITY INFRASTRUCTURE 5. EDUCATED LOCAL WORK FORCE 6. AFFORDABLE HOUSING OPPORTUNITIES 7. EXEMPLARY EDUCATION SYSTEM 8. EXCELLENT LOCAL HEALTHCARE AND WELL-BEING SERVICES 9. ACCESS TO WORLD CLASS CULTURAL VENUES 10. UNPARALLELED OUTDOOR RECREATION AND SPORTS Airport Land Partners 312 AABC Suite A Aspen, CO 61611