ABOUT

Darrell J Leamon, principal of Terra Pacific Development, is a veteran real estate developer, industry consultant, and California licensed broker. He has purchased, planned, entitled, and built residential subdivisions both as a principal and executive for America’s largest homebuilders. Total acquisitions exceed $300 million in land resulting in approximately 11,000 dwellings and $11 billion in sales. Strengths include market and project specific research and analysis, acquisition, capital formation, and project entitlements.

Approximately one-half of all acquisitions have been urban in-fill and/or rezone and repurpose as governments increasingly press to contain growth within their existing boundaries and densify urban cores.

Whether it be rezoning, subdividing, amending existing permits, improving on planned architecture, or solving an infrastructure problem, land should always contribute to the bottom line.

There is great satisfaction in fulfilling a vision that others may have not imagined. Leamon’s mission is more than getting to “yes”. He thrives on unlocking and maximizing the highest and best use of land. This achievement will always result in both private and public benefit.

SERVICES

A full range of pre-acquisition, acquisition, planning, entitlement, capital formation and disposition services are offered on a fee basis. All services include, as needed, the management of third-party professionals such as engineers, architects and market consultants. All services include, as needed, private and public presentations, workshops and statutory hearings.

Acquisitions & Dispositions - Besides understanding a project, the most important aspect of acquisition is credibility with property Sellers. Transparency and good communication are key to great relationships. Respect for the Seller and faultless integrity will pay dividends in every acquisition.

DRE licensed in California, expert brokerage services are offered with a vast network of buyers, sellers, and broker relationships.

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Identify Opportunities
- Market Research
  - Jobs / Housing Balance, trends
  - Affordability Indices, historical vs present
  - Absorption vs. Pipeline Inventory Analysis
  - Value Ratio Graphing
  - Identify Target Buyers
  - Identify of Best Product Fit
Project Analysis
- Thorough and Dynamic Acquisition Proformas
- Due Diligence
  - Political Assessment
  - Physical Assessment
Negotiate Purchase and Sale Agreements
- Thorough and concise
- Manage Legal Counsel
- Self-drafting (as appropriate)
- Responsive to Project Limitations
Develop Credibility with Seller
- Integrity
- Respect
- Responsiveness
Title and Escrow Coordination
- PTR Review
- Resolve / Negotiate Title Issues
Dispositions
- Expert evaluation from a Builder’s Perspective
- Coordinate Marketing Materials
- Supervise Target Marketing
- Experienced Negotiation

Capital Formation -To attract capital, presentations must be flawless. An incomplete presentation will be interpreted by investors as a defective project or at least a defective project sponsor. The opportunity must be clear through words and images and supported by strong data. No project is perfect so, tough questions should be answered before they are asked. Transparency and communication are the only way to build investor confidence.

Properly presented, residential development resonates with investors and lenders. Everyone understands that home ownership is the most predictable and popular path to financial security.

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Identification of Target Equity Investors / Lenders
Prepare and Present Investment and Loan Offerings
Negotiation of Operating Agreements
Negotiation of Loan Agreements
Title and Escrow Coordination

Entitlements - In the highly politicized environment of urban growth gaining governmental approvals can be frustratingly slow and shockingly expensive. We must accept that a great idea is not always universally shared. Presentations are effective but listening to the public is the foundation to entitlement success. There is no substitute for an honest assessment of public desire and the effectiveness of their political leadership. The correct approach to project entitlements is proactive, not reactive.

(including but not limited to):

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Agency Formations
- General Plan Amendments
- Annexations
  - LAFCO
  - Vote Campaign Coordination
Public Improvement Financing
- Petition, Negotiate and Coordinate, as needed
  - 1915 Act Improvement Bonds
  - Benefit Districts
  - Mello Roos Districts
  - Special Assessments
  - Fees or performance in-lieu
  - Opportunity Zones
Zoning
- Specific Plans
- Rezoning
- PD / PUD Approvals
- Architectural Approvals
Subdividing
- Tentative Map Approvals
  - Environmental Coordination (CEQA in California)
    - Negotiate Waivers and Exemptions
    - Negotiate Negative Declarations
    - Negotiate the Scope of Environmental Investigation (i.e. Supplemental EIR’s)
    - Manage Comprehensive EIRs
  - Negotiate Conditions of Approval
- Common Interest Developments – Department of Real Estate
  - Coordinate / Supervise Preparation of HOA Documents
    - HOA Budgets
    - Reserve Studies
    - Conditions, Covenants and Restrictions
    - Articles of Incorporation
    - Corporate By-laws
    - Disclosures
    - Condo Map Approval / Phasing Approval
    - Issuance of Public Reports (pink and white, in CA)
- Final Map Approvals / Recordation
  - Coordinate with Engineers
  - Coordinate with Utilities and Other Signatories
Political / Staff / Public Interface (present and / or coordinate)
- Staff / Public Workshops
- Community Meetings
- Political Lobbying (Brown Act Compliant)
- Public Hearings