Gulf Shores - Orange Beach - Perdido Key Topics: John

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	Name:	Osms -
	Subject:	John
	Date:	2/9/2013 12:30:38 AM

We're talking about two different things. You're talking about sales, primarily of existing homes, and I'm talking about the future of the lake economy. Show me one sizable, developable piece of property for say 200 homes that is not owned by RL or APCo. RL did a very good job of developing upscale weekend oriented properties, but besides sales commissions to agents what real economic impact do those weekender properties have on the area? I thought I was pretty clear when I talked about targeting the retirees as a way to improve the lake economy. An example on such development is Stillwaters. It's old but it's still growing and it offers a retiree a reasonable value and a good economic impact on the area. Have you noticed that practically all of the successful restaurants around the lake are close to Stillwaters?

BTW, if APCo and RL don't set the market prices who set the prices for the new Emerald Shores lots?