We continue to make good progress on construction of Laguna Caribe since our last update a month ago. The underground utilities (water, sewer, and stormwater drain systems) for both Phases 1 and 2 are now substantially complete. FPL finally began installation of their electrical power “backbone” late last month. The lateness of the power installation (originally scheduled for December) has been controlling our construction completion date of late, because power is necessary to certify our community for occupancy, which in turn enables us to record our plat and be able to close on sales of lots and open the resort.

In addition to the above, final grading of the lots is now well underway, installation of RV pads is begun, and paving of Phase 2 roads will be completed later this month.

Construction of Phase 1 of our clubhouse facility is now getting underway, including our Tiki Bar, pool bath house, and shortly, our swimming pool and spa. We anticipate construction of the Phase 2 amenity, the main clubhouse building, beginning by late spring.

Finally, construction of our first model casita – a “Model A” with the “Bali” elevation, will commence shortly. A “Model B” casita with the West Indies elevation will follow soon thereafter, with both models completed by this fall.

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