Master Plan: Phase One The TwinEagles Club

Elevate Your Lifestyle

The Master Plan is designed to guide the development and future growth of the Club, enabling TwinEagles to continue as one of the most

desirable golf and country club communities in Southwest Florida.

The Master Plan focuses on four aspects of Country Club Membership: Lifestyle Experience Membership Value

Competitive Advantage Property Value

In June 2020, the Membership voted in favor of Phase One of the Master Plan, which includes the

Clubhouse & Talon Golf Course Renovation, as well as the addition of Bocce Courts.

Clubhouse Enhancement Goals:• Create a more casual, comfortable dining experience,

with indoor and outdoor options• Create a larger, interactive-style bar• Provide a larger event dining room and new Grille Room• Create a kitchen that supports simultaneous culinary functions

for a la carte dining and events

Talon Renovation Goals:• Ensure the Talon continues to be TwinEagles’ crown jewel• Modernize and renovate the golf course to current standards• Recapture 25% of green surface lost, bringing greenside bunkers

back to prominence while adding hole locations• Provide “Tee it Forward” options for all Members• Installation of a state-of-the-art irrigation system

Clubhouse:August 2020-July 2021: Pre-construction work including: design drawing development, permitting, engaging a General Contractor

August 2021-October 2022: Groundbreaking & Construction of Clubhouse

November 2022: Grand Opening of Clubhouse Talon Golf Course:April 2021-December 2021: Course Closed for Construction & Turf Grow-in

January 2022: Grand Opening of Talon Golf Course

During the renovations, TwinEagles will make every effort to provide alternate plans for golf, a la carte dining and social events.

* All dates are subject to change.

Project Timeline*

Financial Summary Monthly Payments will begin in September 2020

Initiation Fees will begin in April 2021 for NEW Members buying into the community

ESTIMATED MEMBER COST FOR PHASE ONE FULL GOLF SPORTS SOCIAL MEMBER MEMBER MEMBER

ESTIMATED PHASE ONE SUMMARYEstimated cost of the renovation/modernization of the Talon (including 5% contingency) $7,500,000Estimated cost of the Clubhouse and Bocce Courts (including 5% contingency) $13,550,000Additional Contingency _$1,450,000

$22,500,000

We have successfully negotiated a 10-year post construction loan with a fixed interest rate of 3%.

NUMBER OF MEMBERS 598 28 63

ESTIMATED MEMBER COST, INCLUDING INTEREST AT 3%, NET OF ASSUMED $28,400 $11,400 $8,500INITIATION FEES

ESTIMATED MONTHLY MEMBER COST $197 $79 $59(BEGINNING SEPTEMBER 1, 2020)

FAQ’s What was the process to determine Phase One and its approval?At turnover, the Board of Directors held various Member focus groups and conducted surveys over the course of a year, to determine Member’s priorities. In June 2020, a vote was held for Phase One of the Master Plan, including the Clubhouse, Talon Course, Bocce Courts, and the implementation of Initiation Fees. The vote passed with 80% supporting Phase One.

Who will pay initiation fees?Anyone who is not a current Member as of April 1, 2021 and buys a home in TwinEagles will pay an Initiation Fee, assuming that the home they are buying has a Membership. Initiation Fees will be paid to the Club at the time of closing.

Are Monthly Payments for Phase One the Only Option?Members will also have the option, prior to each dues year, to make all monthly payments for the coming year in one lump sum. These amounts will be due on or before October 31 of each year, and will be $2,364, $948, and $708, respectively, for Full Golf, Sports and Social Members. This approach also ensures that future Members share in the cost of Phase One improvements.

If I sell my house in the next 12 years, who is responsible for the Phase One monthly payments?The Membership associated with the home will transfer to the buyer with the sale of the home. The buyer will be responsible for all remaining monthly payments.

What will happen if we do not experience the forecasted property sales?In the extremely unlikely event that we receive no initiation fees and no reserves, the increase for the next year would be $120/month for a Full Golf Member, $48 for a Sports Member, and $36 for a Social Member.

Will there be a Phase Two of the Master Plan?The Master Plan is a road map that identifies present and future projects for improving our facilities. In addition to what has been outlined in this Booklet for Phase One, potential future projects in the Master Plan include:• Renovations to the Tiki Bar• Renovations to the Fitness Center• Racquet Center, to potentially include Pickleball

Member focus groups, surveys, and a Member vote would take place at a later date to determine potential projects and the scope of the projects.

The TwinEagles Club11725 Twin Eagles Boulevard

Naples, Florida 34120239-354-1700

239-352-1002 Faxwww.thetwineaglesclub.com