Dover Bay Resort's approach to development

Given the economic environment of late and the troubles that many resort developments are having, a common concern with many of my clients relates to the underlying strength of the resort community in which they are considering buying. Dover Bay Resort is one community that is certainly in a very solid position even in today's market.

Developer/Developments Credibility/Communities Financial Health

Dover Bay has been involved in successful residential,

commercial and property management projects such as Warren Island, Holiday Shores

Condominiums, East Hope Marina, Holiday Shores Resort, Sandpoint Marina and the Old

Powerhouse Building. Those successes have allowed Dover Bay Development to forge close financial

relationships with a number of very stable local banks. These strong financial partners

have allowed the developer to pursue and pay for the Dover Bay P.U.D. improvements as well as

municipal and commercial improvements. Dover Bay has made substantial investments

in the city of Dover, Dover Bay P.U.D, and the Marina Village commercial area.

1. Dover Bay development has funded and completed over $10 million

in improvements within the Dover Bay P.U.D. consisting of all the

infrastructure, roadways, the creation of an expansive trail system

including a biking trail system, a number of water features and parks

throughout the Community.

2. Municipal - Dover Bay Development has built and donated to the City of Dover

$4 million in new facilities including the City Hall and beautiful city

beach. It has also built and turned over to the city over $9 million in other

improvement such as a new fire station, 110' ladder fire truck with lift

and a state‐of‐the‐art wastewater treatment station, with the capacity

for a regional solution and a new water storage tank increasing the

city's potable water storage and improving the line flow capacity from

75,000 gallons to 353,000. The development has also paved the streets

in old Dover along with connecting the bike trails to the North Idaho

Pathways leading into Sandpoint.

The Dover Urban Renewal District is the most successful urban renewal

districts in the State of Idaho and has already reimbursed Dover Bay for

$7 million of the municipal improvements of the city.

3. Commercial / Dover Bay Resort

The first phase of the marina is completed. It is the only new marina

to be built on Lake Pend Oreille in recent memory. The Resort features

the Café and Market, Lake Club Fitness Center, Beach Bungalow

Vacation Rentals and is in ongoing negotiations for additional amenities

from Tennis Clubs, events center and additional commercial

opportunities that present themselves on a regular and continuing

basis.