Sage Ranch UpdateThe City has scheduled the Sage Ranch final approval with the City Council for August 16.
The reason is the presentation needs most of a full meeting. Aug. 2 is not enough time.
At the Aug. 16 meeting the Council will accept the recommendation to approve the project from the
Planning Commission which already voted 4-1 approval. The City council's purpose is different
than that of the planning commission. The City council will approve the Tract Map which can
be found on our website under "Sage Ranch" where you can download the TTM. The Tract Map
provides each of the 995 individual lots with surveys and provides the basis for their legal creation.
In addition the City Council signs off on the Final Environmental Impact Report and then signs off
on the Development Services Agreement where the City agrees to provides services to each lot
and the project as a whole. On Aug. 16 the discretionary approvals is complete.
Next steps are pulling grading, drainage and all the building permits. Those are perfunctory.
We have spent 3 days last week with our General Contractor who will build the entire project.
They are currently completing 300+ homes in Bakersfield.
Paul Morris will provide the sales through his 3,400 brokers plus the 250+ reservations already plus
our relationship with the USAF and the Aviation community. Make no mistake, this is a game
changing project for Greenbriar and the company will transition from a development company to
a major revenue producing company. We are currently deciding between one of the Big 4 World
Class Audit firms (Deloitte, PWC, E&Y or KPMG) to complete the Valuation Report of Sage Ranch
including revenue and net incomes based on independent third party costs and sales verified by
a world class audit and valuation firm. This will be enlightening and postive for our shareholders
to say the least.
Best
Jeff