Update on Chipola Music Village. Last year we option a 468 acre site outside Marianna, Florida. Our agreement included a "kick out clause" if another purchaser could perform the closing promptly. Our project is 100% of the co-operative of those seeking to purchase pre-development at a discount to contribute on the creation of the village, intern these are our investors. In our 3 months of our option on the Chipola site, we achieve a significant amount milestones on this project.
- Met with Jackson County Officials and had 20 year old laws modified in respect to festivals. After our inspection of the laws, it was determined events for 2 decades where held out compliance of local ordinances. These laws where put into place in 1978 to prevent a Woodstock type music festival from being produced. In short, we would have to create an entire mobile hospital to legally produce any event. This was obsolete regulation and we achieved our goal to change by the end of August.
- Created a national marketing campaign exposing the Music Village Resort concept and the Chipola Music Village. Though we did not successfully raise the capital to purchase the $5 million raw land purchase, we had reached an estimated of $2 million on potential reservations, however a cash purchaser contracted property prior to site plan approval of the proposed site plan. The current purchaser discovered the site from the promotion of the Chipola Music Village, then placed a contract for an eco-subdivision building modular green homes. This company has entered into 2 addition subdivisions with this seller. Our next sites will not provide a kick out clause, MVR had invested over $100k into this project.
We set ourselves short on this project. On August 5th we had entered in an option agreement, by October 5th we produced a festival after over coming major obstacles from the county, marketing and site preparation. If you didn't make our Founder's Festival, you missed the magic ... but then again so to many others, our event netted over 400 patrons, less than 80 paid. However, the doors opened are priceless! We have other sites in this market we are working on, stay tuned.