Conceptual plans have been prepared for a gated community consisting of 51 custom home lots ranging in size from .85 acres to 1.5 acres (average lot size = 1.1 acres +/-). Included in the 51 lots are the existing nine cabins and homes which will remain, each will be situated on its own lot, and will be available for purchase. Approximately 20 of the 76 total acres will be set aside for common areas, roads, walking paths and utility easements. The architecturally designed gated entrance will open to views of the new lake and a separate smaller lake connected by a stream. These amenities will be adjacent to the new 3,000 square foot clubhouse consisting of a comfortable great room with a large stone fireplace, exposed beams, and French doors, leading to a covered patio overlooking the lake. The new lakes plus the two existing lakes will be surrounded by several acres of lushly landscaped common areas and an event lawn.

The CC&Rs will include Design Guidelines to insure that all homes constructed at Sierra Springs Ranch will create diversity of architecture while controlling the size and disturbance of each lot through pre-determined building envelopes. Each existing cabin and home will be required to meet the same Design Guidelines, with the new owners having fours years from the date of purchase to complete all necessary improvements.

Approval was received for the Tentative Plat from Navajo County's Planning and Zoning on February 17. The Final Plat approval and the Arizona Department of Real Estate Public Report is expected in the early fall. Lot selections for the POP participants will take place immediately after receiving the Arizona Department of Real Estate Public Report. The current plan is for construction of the clubhouse to begin in the second quarter of 2005, with completion of all improvements at the end of the second quarter of 2006. Construction of new homes should begin early in 2006.