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Date of Issue: October 14, 2009

Mainsail will keep Tidemark footprint

Mainsail Development will use the Tidemark site plan approved in 2001 for its guest lodge/marina adjacent to Wachovia Bank in Holmes Beach, Mainsail president Joe Collier said.

Collier said he wanted to clear up any confusion that the company might consider a new site plan while it lowers the density from 50 units in the original plan to 40 units.

“The Mainsail Lodge and Marina will utilize the same site plan and footprint as the approved Tidemark project," said Collier. “It will operate under the same program as the Mainsail Beach Inn units.”

“We have no intention of moving away from the fully approved plans, but we have to design and draw the project and complete the construction using all of today’s standards,” he added.

Collier said Mainsail will “maximize the very expensive piling and foundation work on the site that has already been completed, which really requires us to follow the footprint.”

The most significant feature of Mainsail that is different from Tidemark — aside from new ownership — is that the plan for fractional ownership has been scrapped, Collier said.

Additionally, the Mainsail Lodge will have 10 less units, 40 rather than the 50 units in the original Tidemark site plan.

“Our buyers will own a fee-simple asset that is for them to use at their discretion and in the lodging rental program the remainder of the time,” said Collier.

He indicated Mainsail is in the process of selecting an architect within the next few weeks.

Interest in both the Mainsail Beach Inn and Mainsail Lodge has been high, he added.

Collier said he expects to have architectural drawings and brochures for the lodge ready before Jan. 1.

“We want to roll with this project,” he said.

Mainsail purchased the Tidemark property, including the Tidemark Beach Resort on 66th Street in Holmes Beach in July. The 12-unit beach resort is now marketed as Mainsail Beach Inn and five of the 12 units have been sold, Collier

Although Collier has pledged to use the original Tidemark site plan, Holmes Beach building official Joe Duennes said he would have to inspect any plans submitted by Mainsail to ensure they follow the original site plan and footprint, which was approved by the Holmes Beach City Commission in August 2001.

Efforts to construct a hotel/condominium/marina at the Mainsail Lodge and Marina property have been ongoing since that approval, but without success.

In 2004, the original company went into bankruptcy and a subsequent owner was unable to complete the lodge, although it did construct the beach resort.

Both properties were purchased by Mainsail in July.

Principals in Mainsail LLC, a subsidiary of Mainsail Development, include Pine Avenue Restoration LLC.