The opportunity.

We have an opportunity to EXERCISE OUR OPTION on the addition 3.58 acres of the Clear Creek Property. This would give us an 8.91-acre strip of land near the Kitsap Mall with access and visibility off Hwy 3, Hwy 303, and the new Waaga Way extension. This strategic piece of property has water, sewer, storm drain, and full access off Clear Creek Road with a completed traffic study.

The bottom line is this: it can be fully developed independent of any neighboring development and is in the way of progress. If we got this property, we would have two great options:

• Plan A
  Work with a developer on the full 8.91 acres with a mixed-use concept of retail, hotel, restaurant, and our performing arts & training center.
• Plan B
  Leverage the property into additional land, facilities, and resources nearby.

The cost.

Last August, newlife purchased 5.33 acres of the Clear Creek Property for $2 million from Forsberg LLC with money down, a loan, and a $500,000 note due July 31, 2009. (The land appraised at purchase for $2.5 million). As part of the deal, newlife has an option on an additional 3.58 acres at $1,332,500.

We want to exercise that option and take care of the note with current budgeted monies and by fundraising $500,000 – $250,000 by June 15th and $250,000 over 24 months.

How the land will be used.

• Apprenticeship for everyone.
• Higher education.
• Additional Silverdale campus.
• Campus for youth.