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Approved 12/12/16 OC Board of Adjustment – 10/10/16 Page 39 of 113 Andy Petesch: And so after the SUP denial how did you decide to pursue? 1 2 Kara Brewer: Well, knowing that we had the secondary option we went with that, which was moving forward 3 with the farm exemption to get the barn built. 4 5 Barry Katz: And have you made any kind of financial projections about what this chestnut business 6 amounts to annually? 7 8 Kara Brewer: Yes. We have extensive projections. 9 10 Barry Katz: Are they in this packet? 11 12 Andy Petesch: Yes, if you’ll turn to tab 16. Ms. Brewer could you tell the Board about what this document 13 is? 14 15 Kara Brewer: This is my farm plan summary. So it goes through all of the farms uses and what we’re 16 planning to do with the chestnuts and flowers with honey as well as agritourism. 17 18 Andy Petesch: Who prepared this document? 19 20 Kara Brewer: I did. 21 22 Andy Petesch: And could you walk them through the sections here and talk about your operations? 23 24 Kara Brewer: Sure. So the first section you can see is our chestnut. I gave a little bit of detail about the 25 history of the chestnut. There is detail there about how the chestnuts produce nuts 3-5 years after planting. 26 It gives information about the pound per tree and what we can expect. We do have a 20-year outlook. And 27 you’ll see that right in the next section. And although we do have extensive projections, that’s our 5 years 28 out, 10 years, 15, and 20 years out. 29 30 Andy Petesch: Would you say that for the record what those numbers are? 31 32 Kara Brewer: Sure. So at 5 years it’s $23,981. At 10 years it’s $188,154. 15 years is $320,300. And 20 33 years is $387,790. 34 35 Andy Petesch: And this is based on your current properties that you own. Is this more than just the Morrow 36 Mill property? 37 38 Kara Brewer: Yes, we do have another property where we are planning to have 1,200 trees, which will 39 (inaudible) the largest chestnut tree farm in North Carolina, and one of the largest in the Southeast. 40 41 Andy Petesch: And where will you process these nuts once they’re harvested? 42 43 Kara Brewer: At the barn at Morrow Mill. 44 45 Barry Katz: I don’t know what the basis is that these trees are going to yield between 55 and 110 pounds 46 per tree. I’m absolutely shocked that these would do that. I’ve been around chestnut trees in this area for a 47 long time and I’ve never seen anything remotely like that. And do you have any consideration about 48 disease that chestnut trees get and the possibility that you can lose your entire… 49