Judy, Mike, Michael, Vince, Ken, Hunter, Andy, Suzana, several local real estabe brokers at Judy's. A planned 4.5-hour meeting.

Planning Contract
     Andy explained that the new concept of the UC contract (according to Randy) is that he remains the mentor, but that Andy is the "day-to-day contact". The 13th of September is slated as the General Presentation of the Three Plans, with neighborhood meetings afterwards.

Real Estate Values
     For several hours we worked to establish a model of the value of the exisiting Caspar Cattle Company parcels and their possible development value.

Values for existing parcels and conventional splits:

parcel	APN	parcels	acreage	value	per acre	CCs
Headlands one parcel has to be 20A min, rest can be non-compliant
whole headlands	118-08-1	1	50	$3,500,000	$70,000	8
headlands compliant parcel		1	20	$3,000,000	$150,000	0
headlands small parcels		7	4.29	$450,000	$105,000	0
North Central (near Shul) crosses highway
present		1	48	$600,000	$12,500	1
West of highway	118-05-27	1	24	$300,000	$12,500	0
East of highway (compares to Pat Anderson's 20A)	118-05-18	1	24	$400,000	$16,666	0
South Central (behind Black Bear)
present	118-08-10/12	1	11.8	$500,000	$42,373	0
split		5	2.36	$150,000	$63,559	0
Southeast Parcel (includes water)
present parcel	118-08-14	1	60	$900,000	$15,000	3
sold once		3	20	$1,200,000	$60,000	0
sold and split again		5	12.5	$1,800,000	$144,000	0
Creek parcels
	118-08-13	1	14	$600,000	$42,857	2
South Parcels
	?	1	?	$2,000,000	?	2

It was noted that existing improvements could be valued at between $80 and $100 per square foot. It was also revealed that the State paid about $25,000 per acre for the Point Cabrillo lands.

     The UC Berkeley team had asked for values of a variety of unconventional parcels, and the panel determined that the following prices would be reasonable under current market conditions. Areas in the following table are

1	Central Caspar
2a	North Village
2b	South Village
2c	Far South parcel
3	Central Caspar Pasture
4	East Caspar Grazing (Goose pond)
5	Headlands
6	Riparian
7	South-East Caspar Grazing
8	Easternmost Parcel

area	description	acres	value
Single family, water provided, shared bio-wetland sewage
2a	with views to ag / highway noise	0.25	50,000
2b	with views to ocean	0.25	65,000
2c	with views to agriculture or forest near creek
4	along east boundary with view to pond	0.25	60,000
7	clustered near trees with view to agriculture	0.25	55,000
8	clustered in trees	1	70,000
Duplex, water provided, shared bio-wetland sewage
2a	with views to ag / highway noise		75,000
2b	with views to ocean		97,500
2c	with views to agriculture or forest near creek		-
4	along east boundary with view to pond		90,000
7	clustered near trees with view to agriculture		82,500
8	clustered in trees		105,000
1/4 acre lot fourplex, water provided, shared bio-wetland sewage
2a	with views to ag / highway noise		100,000
2b	with views to ocean		130,000
2c	with views to agriculture or forest near creek		-
4	along east boundary with view to pond		120,000
7	clustered near trees with view to agriculture		110,000
8	clustered in trees		140,000
4 acre parcel, 20 units of clustered housing for artists and crafts people
2a	with views to ag / highway noise		461,538
2b	with views to ocean		600,000
2c	with views to agriculture or forest near creek		390,000
4	along east boundary with view to pond		553,846
7	clustered near trees with view to agriculture		507,692
8	clustered in trees		390,000
4 acre parcel, 20 units of clustered housing for retirees, minimal health care
2a	with views to ag / highway noise		461,538
2b	with views to ocean		600,000
2c	with views to agriculture or forest near creek		390,000
4	along east boundary with view to pond		553,846
7	clustered near trees with view to agriculture		507,692
8	clustered in trees		390,000
10 acre parcel, single family, house location restricted
2a	with views to ag / highway noise		134,615
2b	with views to ocean		175,000
2c	with views to agriculture or forest near creek		113,750
4	along east boundary with view to pond		161,538
7	clustered near trees with view to agriculture		148,077
8	clustered in trees		113,750
20 acre parcel, single family, house location restricted
2a	with views to ag / highway noise		211,538
2b	with views to ocean		275,000
2c	with views to agriculture or forest near creek		178,750
4	along east boundary with view to pond		253,846
7	clustered near trees with view to agriculture		232,692
8	clustered in trees		178,750
1/8 acre parcel, mixed use building, housing second floor, commercial ground floor
1	view to headlands		90,000
1	clustered around Shul		80,000
2b	with views to ocean		125,000
1/8 acre, commercial or office, three story limit, water from town system
1	view to headlands		108,000
1	clustered around Shul		96,000
2b	with views to ocean		150,000
6 acre parcel, eco-health hotel / B&B, 50 seat restaurant, 20 rooms
1	view to headlands		720,000
1	clustered around Shul		640,000
2b	with views to ocean		1,000,000
12 acre parcel, eco-health hotel / B&B, 100 seat restaurant, 50 rooms, conference space for 100
2b	with views to ocean & beach		2,200,000
2 acre parcel, light industry, light manufacturing, research and development, office
1	view to headlands		200,000
1	clustered around Shul		200,000
7	with views to ocean		220,000
7	no ocean view		200,000
10 acre parcel, top computer software firm, hotel, meeting areas
1	view to headlands		1,400,000
1	clustered around Shul		1,400,000
7	with views to ocean		1,540,000
7	no ocean view		1,400,000
Agriculture
	orchard	1	75,000
	grazing	1	33,000
	commercial green house	1	100,000
	nursery	1	100,000
	crops	1	50,000

     The Steering Committee wishes to thank the real estate participants for their patience and for sharing their expertise.

respectfully submitted by Michael Potts