RiverView Offering Memorandum

CHRIS PAOLI Owner/Broker www.RiverViewSteamboat.com CONTACT | TOUR INFO: 970.819.1432 chris@mybrokers.com

OFFICE LOCATION: 703 Lincoln Ave., #B104 Steamboat Springs, CO 80487

WELCOME

TABLE OF CONTENTS Location 2 Executive Summary 4 Development Overview 5 Individual Parcel Overview 6 Parcel A 8 PUD Criteria 9

Subzone Dimensional Standards 10

Subzone Dimensions 11

Parcel B 12

PUD Criteria 13

Subzone Dimensional Standards 14

Subzone Dimensions 15

Parcel C1-C4

PUD Criteria

Parcel C Subzone Dimensional Standards

Parcel C Subzone Dimensions

16 17 18 19

Parcel C5-C6

PUD Criteria

Parcel D

PUD Criteria

Subzone Dimensional Standards

Subzone Dimensions

Parcel E

PUD Criteria

Subzone Dimensional Standards

Subzone Dimensions

20 21

Why Steamboat?

Downtown Life

Outdoor Recreation

Restaurants & Shopping

Culinary Experience

New Ski Resort Ownership

New Ski Pass Partnership

Steamboat’s Enhanced Experience

Getting Here

30 32 33 34 35 36 37 38 39

CONTACT | TOUR INFO:

OFFICE LOCATION:

Chris Paoli 970.819.1432 Owner/Broker, Colorado Group Realty chris@mybrokers.com

703 Lincoln Ave., #B104 Steamboat Springs, CO 80487

22 23 24 25 26 27 28 29

1

LOCATION: STEAMBOAT SPRINGS, COLORADO Steamboat Springs is located 20 minutes from the Yampa Valley Regional Airport and 2.5 hours from Denver.

Right: Downtown Steamboat Springs is the epicenter of activity. One block from RiverView, 80 restaurants and shops entertain visitors and locals. Just a short walk across the Yampa River is Howelsen Park, a world class outdoor playground.

2

LOCATION: DOWNTOWN STEAMBOAT SPRINGS

3

EXECUTIVE SUMMARY

A NEW 4.7 ACRE MIXED USE COMMUNITY ALONG THE YAMPA RIVER DOWNTOWN STEAMBOAT SPRINGS, COLORADO RiverView is a once in a lifetime development opportunity. 10 years of property assemblage and smart planning have resulted in an impossible to replicate Planned Unit Development.

• • • • • • • 4

One of a kind Planned Unit Development zoning approvals in place $6 Million in infrastructure to be completed by fall 2018 900 feet of Yampa River frontage 450,000 square feet of development potential The preeminent Downtown boutique hotel site Metro District and improvements in place with major infrastructure, road, utilities and streetscape to be completed in 2018 100 yards from Howelsen Park, restaurants, shopping, and hot spring and recreation center

DEVELOPMENT OVERVIEW

Acres

4.74

Buildable Sq. Ft.

450,000

Utilities

All On Site

No. of Parcels

6

Property Type

Development Land

Price

$31,900,000

Zoning Investment Options

Planned Unit Development (PUD) Primarily Residential Sites may be purchased separately

As a whole, the RiverView PUD approvals offer complementary parcel zoning orchestrated to maximize the experience for residents at each site.

5

INDIVIDUAL PARCEL OVERVIEW

D B E

A

4

C1-

t Fee 0 0 9

pa R m a of Y

6

C5-

age t n o r Fr

ive

Parcel

Lot Size

Max FAR

Zoning

Price

A

20,944

3.6

Mixed Use

$4,000,000

B

38,585

2.8

High Density Residential

$4,200,000

C1-4

38,560

1.25

Low Density Residential

$7,600,000

C5-6

19,297

1.25

Low Density Residential

$4,400,000

D

37,723

3.6

Mixed Use

$7,500,000

E

22,125

2.5

Medium Density Residential

$4,200,000

RiverView parcels B, C1 - 6 and E have no commercial requirement setting the stage for a one of a kind residential experience. Limited traffic on the loop road complimented by the soothing sounds of the Yampa River create a private escape only steps from the downtown urban experience. RiverView has the ideal walk score - privacy plus the convenient fun of downtown Steamboat.

6

URBAN / ACTIVE / RIVER FOCUS / MOUNTAIN DESIGN

7

PARCEL A

*All designs are conceptual.

Lot Size: 20,944 | Zoning: Mixed Use | Max Density: 3.60 FAR (Floor Area Ratio) Parcel A is the signature mixed use development opportunity located at the main Yampa River bridge crossing to the famous Howelsen Hill park. Howelsen Hill is the oldest ski mountain in Colorado, and encompasses rodeo grounds, world class mountain biking, baseball fields, Howelsen Ice Arena and many more attractions. Parcel A is the gateway location from Yampa Street to the Riverview neighborhood. With over 75,000 square feet of development potential and unobstructed views of Howelsen Hill, the Yampa River and Sleeping Giant, both residential and commercial condos will be in high demand.

A public plaza joins the Yampa River to Parcel A, expanding the retail and restaurant potential of this riverfront site.

8

PARCEL A: PUD CRITERIA

Approved PUD Criteria:

4240 Architecture Test Fit:

Lot SF: 20,944

FAR: 2.97

Max FAR: 3.60

Lot Coverage:

98%

Min FAR: 1.50

Residential SF:

42,820

Max Lot Coverage:

100%

Retail SF: 5,915

Max Height

48 FT

Garage SF: 26,680

Max Building Gross SF:

75,398

Parking Spaces:

55

9

SUBZONE A DIMENSIONAL STANDARDS References to the CDC are to the Steamboat Springs Community Development Code effective January 1, 2018, as amended (“CDC”). The permitted uses, development and design standards, dimensional standards and other zone district standards in the CDC applicable to the CY-2 zone district shall apply to Subzone A, except as modified by this Ordinance.

BUILDING PLACEMENT SETBACK (Distance from ROW/Property Line) FRONT/SIDE STREET (F/S) Principal Structure up to 28’ 0’ min.

Principal Structure above 28’ 37’min. for 50% of F/S St. Accessory Structure NA Decks and porches 0’ min.

SIDE Principal Structure up to 40’ Principal Structure above 40’ Accessory Structure Decks and porches

0’ min.

10’ min.

NA 0’ min.

REAR Principal Structure up to 40’ Principal Structure above 40’ Accessory Structure Deck and porches

0’ min.

20’ min.

NA 0’ min.

LOT SIZE Width 25’ min.

150’ max.

Depth no min.

Lot Area 3,000 sq. ft. max.

22,000 sq. ft. max.

10

BUILDING FORM HEIGHT** Building Height 48’ max.

OTHER STANDARDS BUILDING INTENSITY Lot Coverage 100% max.

Floor Area Ratio 3.6 max./1.5 min.

DENSITY Units per Lot Floor Area Ratio

no max.

2.8 max./2.0 min.

** The above diagram is not intended to illustrate how height is measured. Please see the diagram in Chapter 26-801.O for an illustration of how height is measured.

SUBZONE A LOT DIMENSIONS

140’

140’

149’

149’

All dimensions are approximate. Buyer should verify anything important to them.

11

PARCEL B

*All designs are conceptual.

Lot Size: 38,585 | Zoning: High Density Residential | Max Density: 2.80 FAR (Floor Area Ratio) Energy and vitality are key elements to any successful community. Parcel B is Steamboat’s best opportunity to create a diverse mix of housing offerings within the RiverView neighborhood. 360-degree views will be the focal point of dramatic top floor penthouses while a mixture of condos and townhomes offer the coveted urban living experience in Steamboat’s favorite outdoor playground. In most communities, residents leave their urban setting to find nature.

Not in Steamboat! Downtown is the epicenter of outdoor adventure with endless mountain biking and hiking trails, gold medal fly fishing, kayaking, Nordic ski trails, volleyball, tennis courts, BMX tracks and easy access to the popular Yampa River Core trail.

The combination of Parcel B’s 5 story development potential, sloping topography and length parallel to the Yampa River offer a developer an unprecedented palate to work from. Creativity in design and function will be rewarded as condos on Parcel B will enjoy unobstructed views of Howelsen Hill to the Steamboat Ski Area.

12

PARCEL B: PUD CRITERIA

*Virtual Rendering of Potential Rooftop Patio

Approved PUD Criteria:

4240 Architecture Test Fit:

Lot SF: 38,585

FAR: 2.50

Max FAR: 2.80

Lot Coverage:

70%

Max Lot Coverage:

85%

Residential SF:

61,900

Max Height

60 FT

Retail SF: 0

Max Building Gross SF:

108,038

Garage SF: 34,500 Parking Spaces:

88 13

SUBZONE B DIMENSIONAL STANDARDS References to the CDC are to the Steamboat Springs Community Development Code effective January 1, 2018, as amended (“CDC”). The permitted uses, development and design standards, dimensional standards and other zone district standards in the CDC applicable to the CY-2 zone district shall apply to Subzone B, except as modified by this Ordinance.

BUILDING PLACEMENT SETBACK (Distance from ROW/Property Line) FRONT/SIDE STREET (F/S) Principal Structure up to 28’ 20’ min.

0’ min.

Principal Structure above 28’ 37’min. for 50% of F/S St. Principal Structure above 40’(S St. only) 37’ min.

Principal Structure above 52’ 47’ min. for 50%

& 62’ min. for 50% of Fr. St. Accessory Structure NA Decks and porches 0’ min.

SIDE (INTERNAL) Principal Structure Accessory Structure Decks and porches

0’ min.

NA 0’ min.

REAR Principal Structure up to 40’ Principal Structure above 40’ Accessory Structure Deck and porches

0’ min.

20’ min.

NA 0’ min.

LOT SIZE Width 25’ min.

360’ max.

Depth no min.

Lot Area 30,000 sq. ft. max.

42,000 sq. ft. max.

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BUILDING FORM HEIGHT** Building Height 60’ max.

OTHER STANDARDS BUILDING INTENSITY Lot Coverage 85% max.

Floor Area Ratio 2.8 max./2.0 min.

DENSITY Units per Lot Floor Area Ratio

no max.

2.8 max./2.0 min.

** The above diagram is not intended to illustrate how height is measured. Please see the diagram in Chapter 26-801.O for an illustration of how height is measured.

SUBZONE B LOT DIMENSIONS

149.60’

140’

140’

300’

300’

All dimensions are approximate. Buyer should verify anything important to them.

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PARCEL C1-4

*All designs are conceptual.

Lot Size: 38,560 | Zoning: Low Density Residential | Max Density: 1.25 FAR (Floor Area Ratio) 330 feet of Yampa River frontage, offers a one of a kind opportunity for luxury riverfront development. Set between the quiet loop road and Yampa River, C1- 4 zoning allows for higher density, more flexible parking options, without a first floor commercial development requirement. This unique riverfront development opportunity is not possible anywhere else on the Yampa River in Steamboat Springs, Colorado.

The Duplex homes received Final Development Plan approved in 2018. Plans are included and sites are improved with utility distribution, roads and sidewalks.

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PARCEL C1-4: PUD CRITERIA

*Duplex Home Design For Parcels C1 - 6

Approved PUD Criteria: Lot SF: 38,560 Max FAR: 1.25 Min FAR: 0.75 Max Lot Coverage:

50%

Min Lot Coverage:

35%

Max Height:

36 FT

Max Building Gross SF:

48,200

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PARCEL C5-6

*All designs are conceptual.

Lot Size: 19,297 | Zoning: Mixed Use | Max Density: 1.25 FAR (Floor Area Ratio) Parcel C5- 6 is nestled in an isolated southeast corner site area within very limited throughfare. Uniquely positioned on a bend in the Yampa River, residents will enjoy expanded views down the river corridor, and unmatched privacy.

The Duplex homes received Final Development Plan approved in 2018. Plans are included and sites are improved with utility distribution, roads and sidewalks.

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PARCEL C5-6: PUD CRITERIA

Fully Approved Final Development Plan for Luxury Duplex Homes The unique nature of subzone C allowed the current owner to receive a Final Development Plan for luxury riverfront duplex homes. This is the only downtown location where luxury duplex homes are possible!

Approved PUD Criteria: Lot SF: 19,297 Max FAR: 1.25 Min FAR: 0.75 Max Lot Coverage:

50%

Min Lot Coverage:

35%

Max Height:

36 FT

Max Building Gross SF:

24,121 19

SUBZONE C DIMENSIONAL STANDARDS References to the CDC are to the Steamboat Springs Community Development Code effective January 1, 2018, as amended (“CDC”). The permitted uses, development and design standards, dimensional standards and other zone district standards in the CDC applicable to the CY-1 zone district shall apply to Subzone C, except as modified by this Ordinance.

BUILDING PLACEMENT SETBACK (Distance from ROW/Property Line)

BUILDING FORM HEIGHT*

FRONT Principal Structure: up to 14’ 22’ min. up to 14’ at garage 32’ min. above 14’ 27’ min.

Accessory Structure 27’ min.

Decks and porches 17’ min.

Building Height 36’ max.

SIDE Principal Structure (each side) Principal Structure to easements Accessory Structure Decks and porches

0’ min.

0’ min.

NA 0’ min.

Lot Coverage Floor Area Ratio

REAR** Principal Structure up to 24’ Principal Structure above 24’ Accessory Structure Deck and porches

0’ min.

20’ min.

15’ min.

10’ min.

LOT SIZE Width 25’ min.

380’ max.

Depth no min.

Lot Area 3,000 sq. ft. max.

81,000 sq. ft. max.

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OTHER STANDARDS BUILDING INTENSITY 50% max./ 35% min.

1.25 max./0.75 min.

DENSITY Units per Lot

no max.

* The above diagram is not intended to illustrate how height is measured. Please see the diagram in Chapter 26-801.O for an illustration of how height is measured. ** Rear setbacks are from ordinary high water mark not from property line.

SUBZONE C LOT DIMENSIONS

330’

119’

108’

118’

293’

112’

160’

152’

All dimensions are approximate. Buyer should verify anything important to them.

21

PARCEL D

*All designs are conceptual.

Lot Size: 37,723 | Zoning: Mixed Use | Max Density: 3.60 FAR (Floor Area Ratio) Parcel D is the ideal location for Steamboat’s first downtown boutique hotel or condo development. With 360-degree views from the upper levels and highway 40 frontage, this site is the gateway to downtown. Developers have a unique opportunity to capitalize on favorable site topography, lending itself to efficient below grade parking, and leverage the convenient location to the Old Town Hot Springs. Amenities that include hot springs pools, fitness classes, workout facilities water slide, and more are only steps away.

22

PARCEL D: PUD CRITERIA

The Elizabeth Hotel, Fort Collins, Colorado Images are for vision purposes only.

Limelight Hotel, Ketchum, Idaho Images are for vision purposes only.

Approved PUD Criteria:

4240 Architecture Test Fit:

Lot SF: 37,723

FAR: 2.50

Max FAR: 3.60

Lot Coverage: 81%

Min FAR: 1.50

Residential or Commercial SF:

Max Lot Coverage:

No Max

Retail SF: Hotel Lobby

Max Height:

54 FT

Garage SF: 46,020

Max Building Gross SF:

135,802

Parking Spaces: 114

94,860

23

SUBZONE D DIMENSIONAL STANDARDS References to the CDC are to the Steamboat Springs Community Development Code effective January 1, 2018, as amended (“CDC”). The permitted uses, development and design standards, dimensional standards and other zone district standards in the CDC applicable to the CO zone district shall apply to Subzone D, except as modified by this Ordinance.

BUILDING PLACEMENT SETBACK (Distance from ROW/Property Line) FRONT/SIDE STREET (F/S) Principal Structure up to 28’ 0’ min./0’ max.

Principal Structure above 28’ 25’ min. for 50% of Front/Side Street Principal Structure over 40’ 70’ min. on front only Decks and porches 0’ min.

SIDE Principal Structure up to 28’ Principal Structure above 28’ Accessory Structure Decks and porches

0’ min.

12’ min.

NA 0’ min.

REAR Principal Structure up to 28’ Principal Structure above 28’ Principal Structure above 40’ Accessory Structure Deck and porches

15’ min.

25’ min.

35’ min.

NA 12’ min.

LOT SIZE Width 25’ min.

190’ max.

Depth no min.

Lot Area 3,000 sq. ft. max.

38,000 sq. ft. max.

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BUILDING FORM HEIGHT** Building Height 54’ max.

OTHER STANDARDS BUILDING INTENSITY Lot Coverage no max.

Floor Area Ratio 3.6 max./1.5 min.

DENSITY Units per Lot

no max.

** The above diagram is not intended to illustrate how height is measured. Please see the diagram in Chapter 26-801.O for an illustration of how height is measured.

SUBZONE D LOT DIMENSIONS

245’

245’

150’

150’

All dimensions are approximate. Buyer should verify anything important to them.

25

PARCEL E

*All designs are conceptual.

Lot Size: 22,125 | Zoning: Medium Density Residential | Max Density: 2.50 FAR (Floor Area Ratio) Parcel E is the highest density, 100% residential development site in Steamboat Springs with Yampa River frontage.

There is no residential development opportunity in Steamboat like parcel E. Truly one of a kind! Parcel E is strategically oriented to offer each residential home maximum river frontage. Set just off the 5th Street bridge crossing to Howelsen Park, residential condos will benefit from the perfect combination of convenient access to Steamboat’s Downtown amenities and privacy.

26

PARCEL E: PUD CRITERIA

ONLY 30’ FROM THE RIVER HIGH WATER MARK

Approved PUD Criteria:

4240 Architecture Test Fit:

Lot SF: 22,125

FAR: 2.48

Max FAR: 2.50

Lot Coverage:

69%

Min FAR: 1.50

Residential SF:

38,300

Max Lot Coverage:

70%

Retail SF: 0

Min Lot Coverage:

50%

Garage SF: 16,500

Max Height:

46 FT

Max Building Gross SF:

55,312 27

SUBZONE E DIMENSIONAL STANDARDS References to the CDC are to the Steamboat Springs Community Development Code effective January 1, 2018, as amended (“CDC”). The permitted uses, development and design standards, dimensional standards and other zone district standards in the CDC applicable to the CY-2 zone district shall apply to Subzone E, except as modified by this Ordinance.

BUILDING PLACEMENT SETBACK (Distance from ROW/Property Line) FRONT** Principal Structure: up to 14’ 10’ min. up to 14’, 10’ min. for 50% up to 36’**** 20’ min. for 50% above 36’ 20’ min.

Accessory Structure NA Decks and porches 0’ min.

SIDE** Principal Structure (each side) up to 14’ above 14’ Decks and porches

0’ min.

10’ min.

0’ min.

REAR*** Principal Structure up to 14’***** 30’ min. above 14’ up to 36’ 40’ min. for 50% 45’ min. for 50% up to 36’ 45’ min.

Decks and Porches 30’ min.

LOT SIZE Width 25’ min.

200’ max.

Depth no min.

Lot Area 3,000 sq. ft. max.

28 28,000 sq. ft. max.

BUILDING FORM HEIGHT* Overall Building Height

46’ max.

OTHER STANDARDS BUILDING INTENSITY Lot Coverage Floor Area Ratio

75% max./ 50% min.

2.5 max./1.5 min.

DENSITY Units per Lot

no max.

* The above diagram is not intended to illustrate how height is measured. Please see the diagram in Chapter 26-801.O for an illustration of how height is measured. ** Setbacks are from property line. *** Rear setbacks are from ordinary high water mark not from property line. **** Principal structures above 14’ and within 75’ from high water mark must adopt greater setback. Additional lesser setback must be applied to the remaining building above 14‘ to accommodate CDC 443.A.2. ***** Facade fronting the Yampa River must comply with CDC 443.E.1.c, additionally if ground level is designed as structured parking, building design must comply with CDC 443.G.2.c

SUBZONE E LOT DIMENSIONS

86’

169’

134’

178

’

All dimensions are approximate. Buyer should verify anything important to them.

29

WHY STEAMBOAT? •

Between 280,000 and 330,000 visitors come to Steamboat Springs annually.

(Source: Steamboat Springs Chamber)

•

Steamboat is Colorado's fifth largest ski resort based on skiable acreage and ranks second in the state for the most number of trails.

•

Eight month tourist season with balanced winter and summer seasons.

•

Downtown Steamboat restaurant sales have increased 4.1% annually over the past five years and are 20% above their pre-recession peak.

•

Steamboat is the seat of Routt County and has an estimated 12,260 residents. Routt County has an estimated 23,865 residents.

•

A vibrant, historic Downtown district is home to 127 retail shops, including 43 restaurants.

•

Future tourism draw and upside from Steamboat's current development of the Yampa Street Promenade.

POP ULAT IO N

5 M I LE S

10 MILE S

To t al Populati on :

6, 51 3

19 , 9 74

M e di an Age :

37. 5

3 7. 9

M e di an Age ( M ale): M e di an Age ( Fe male):

36. 1 38. 9

3 6. 5 3 9. 4

5 MILES

10 M ILE S

To t al H ous e holds:

2, 81 6

7 , 5 15

# Pe rs ons Pe r H H:

2. 3

2. 3

$83, 1 01 $619,2 80

$8 2, 98 9 $6 31 , 2 21

HOUS EH O LDS & IN CO M E

Avera ge H H I ncome: Avera ge H ou s e Value:

30

WHY STEAMBOAT? Steamboat Signature Events: •

Winter Carnival

•

Pro Rodeo Series

•

Weekly Farmers Market

•

July 4th Celebration and Parade

•

First Friday Art Walk

•

Free Concert Series

•

Mustang Rally

•

Balloon Rodeo

•

Art In The Park

•

Triathlon and Running Series

•

Town Challenge Bike Race Series

LA B O R F O R C E S TAT I S T I C S R O U T T CO U N T Y 2 0 1 5

ACCOMM ODATION S S TE AMBOAT S P R IN G S 20 17

L ab o r Fo rce:

14,458

Numb er O f Pillows:

20 ,5 4 2

E m p l oye d :

13,852

Numb er O f B ed s:

11 ,4 1 1

U n e m p l oye d: U n e m p l oy ment R ate:

606 2.4%

Numb er O f Unit s:

3, 3 9 0

S ource: Steamboat Spr ings Chamber S ource: Yampa Valley Data Par tners 31

WHY STEAMBOAT? DOWNTOWN LIFE

Steamboat Springs is more than a great ski mountain. It’s a real town. And downtown Steamboat Springs is the heart of this welcoming Western community, where ranchers, skiers and artisans share the Steamboat experience.

The downtown district is alive with personality – from century-old buildings, to a thriving arts scene, to world-class dining. Throw in Steamboat’s “down-home” character, and it’s easy to understand why locals live here, and visitors return year after year.

Start your day by dining at a street-side café, like Winona’s or Creekside Café. There’s nothing better than eating breakfast to the sounds of the tumbling Soda Creek waters. Then move on to browse Main Street’s impressive selection of boutique shops and independent, locally owned businesses. Stroll through art galleries featuring a variety of local and national artists. On summer weekends, you can find fresh, locally produced foods and artisan goods at the vibrant Farmer’s Market.

Restaurants like Aurum and Carl’s Tavern buzz with happy hour revelers enjoying cocktails on outdoor and roof top patios. The choice is yours for dinner — from a quick burger at Backdoor Grill to fine dining at Cloverdale and E3 Chophouse. Or relax with a glass of wine on the deck of Sake2U and watch the sunset behind the Yampa River and Howelsen Hill.

The first weekend in February brings the annual Winter Carnival which began in 1914. Hundreds of people line Lincoln Avenue to witness the festivities that combine Steamboat’s skiing and western heritages. Kids ski behind horses to compete in events that include ski joring and the famous donkey jump. So bring the kids and connect with the downtown excitement.

The Steamboat experience begins and ends in downtown. While the storefronts have changed over the decades, the allure of spending a beautiful Northwest Colorado day strolling along Lincoln Avenue hasn’t. And it just keeps getting better.

32

WHY STEAMBOAT? OUTDOOR RECREATION Feel the wind rushing past your face as you experience the thrill of biking a downhill-only mountain bike trail, discover the rush of landing that big Rainbow Trout, or soak up of the view as you cruise on a freshly groomed downhill ski run.

In Steamboat these experiences describe downtown life!

Downtown is not just for dining and shopping. It’s the go-to for all your favorite outdoor activities. Yes, it is possible to ditch the car, and still satisfy both your urban and nature-loving sides. A short list of what we do in Downtown Steamboat:

• • • • • •

Walking Flyfishing Kayaking Mountain Biking Hiking Biking on the Yampa River Core Trail

• • • • • •

Tubing Nordic Skiing Alpine Skiing Snowboarding Horseback riding Paddle Boarding

Come see first-hand why Downtown Steamboat gives new meaning to the Urban Experience.

33

WHY STEAMBOAT? GREAT RESTAURANTS & SHOPPING Steamboat is in the midst of a culinary renaissance. Since 2011, downtown Steamboat’s restaurant scene has experienced unprecedented private investment, resulting in 16 new restaurants which have set a new standard for quality.

Complimenting the current restaurant buzz, the city of Steamboat has completed a $10,000,000 capital improvements project enhancing the pedestrian connectivity throughout downtown. Refined streetscapes enhanced with public gathering areas offer an enjoyable journey through town sprinkled with access to the flowing Yampa River.

34

WHY STEAMBOAT? CULINARY EXPERIENCE

• 50+ Restaurants, Cafés and Bars • Nationally Recognized Culinary Experience • Thriving Night Life and Live Music Scene

35

WHY STEAMBOAT? NEW SKI RESORT OWNERSHIP Four minutes from downtown, Steamboat’s world-class ski resort has long been known for its “Champagne PowderTM.” When snow falls in the Yampa Valley, it’s typically some of the lightest in the state due to Steamboat’s unique northwest Colorado location. With over 350 inches of snowfall each year, odds are you will have plenty of epic powder days.

The Steamboat Ski Area was acquired by Alterra Mountain Company in 2017, and Steamboat Springs is poised to benefit from the marketing strength of a company that includes Aspen, Deer Valley, Mammoth Mountain and Squaw Valley, among others. The new Ikon season pass, debuts in the 2018/19 season and will bring a new wave of visitors to Steamboat Springs. Alterra Mountain Company has stated they will be investing in their resorts.

Mountain Numbers Base Elevation: 6,900 feet/2103 meters Mid-Mountain Elevation: 9,080 feet/2768 meters Summit/Mt. Werner Elevation: 10,568 feet/3224 meters Vertical Rise: 3,668 feet/1118 meters Trail System Permitted Acres: 2,965 acres/1,200 hectares Trails: 165 named trails Trail Classification: 14% Beginner, 42% intermediate, 44% Advanced Longest Run: Why Not – over 3 miles/4.8km Uphill Capacity: 33,619 per hour Snowmaking: 375 acres/152 hectares Annual Snowfall: 331”/859cm

36

WHY STEAMBOAT? NEW SKI PASS PARTNERSHIP

27 resorts under one pass offers access to the most iconic mountains in North America. Unique terrain. Real community. Enduring memories. Welcome to the new standard in season passes.

37

STEAMBOAT’S ENHANCED EXPERIENCE Steamboat Springs is committed to investing for the future. From 2007 to 2018 Downtown Steamboat has seen unprecedented private and public investment.

With new ski area ownership, Steamboat is the next great Colorado mountain town opportunity.

2018 2015 2011 2009 2007 Sale of Steamboat Ski Resort to Intrawest

38

One Steamboat Place, Edgemont, Howelsen Place, Olympian, and Alpenglow offer higher quality residences at Base Area and Downtown

Carl’s Tavern opens, and Downtown Revitalization Committee is formed

City commits lodging tax and general fund monies to downtown improvements

Alterra purchased Intrawest, Downtown improvements complete, 16 new restaurants, and expanded direct flights, air service

GETTING TO STEAMBOAT

NONSTOP WINTER FLIGHTS FROM 14 CITIES

Winter 2017/18 nonstop flight program into the Steamboat/Hayden Airport (HDN) will provide non-stops from 14 major airports on key U.S. carriers – Alaska, American, Delta, United and ViaAir Airlines, featuring convenient connections from more than 300 other airports nationwide and worldwide.

YAMPA VALLEY REGIONAL AIRPORT (HDN)

Located 22 miles west on US Hwy. 40 near Hayden. This facility supports non-stop daily jet service in the summer, fall and winter months along with daily commuter service from Denver International Airport (DEN).

ATLANTIC AVIATION

Located just 25 miles west of Steamboat Springs, CO, this base offers access to spectacular Champagne Powder skiing during the winter and the fabulous outdoor mountain lifestyle in the summer. In addition to our location in the heart of ski country, hunters are just minutes away from the Flat Top Mountains, home of the world’s largest Elk herd. This Atlantic FBO is proud to bring our renowned customer service and Atlantic Attitude to the Yampa Valley Regional Airport. Visit Atlantic HDN today and we’ll show you what it means to receive excellent service with a personal touch.

STEAMBOAT SPRINGS AIRPORT

Owned and operated by the city this airport provides private plane access • Conveniently located only three miles west of downtown • New passenger facility built in 1993

39

NOTES

40

NOTES

41

www.RiverViewSteamboat.com

This does not constitute an offer to sell nor the solicitation of an offer to purchase made in any jurisdiction nor made to residents of any jurisdiction where registration is required. The information and materials in this message are for informational purposes only and are non-binding.

The Project is under development and is not yet complete. The depictions and design of the Project as shown are based on current development plans. Development plans and all improvements, features, land uses, amenities, floor plans, specifications, furnishings, trim, and other information shown here or in any renderings, illustrations, photos, simulated views, graphic images, maps, or other visual depictions are illustrative only and may be changed without notice. No guarantees are made that the Project will be constructed, or if constructed, that the Project will be built, used, operated, or sold in conformance with this information.