FCC White Paper Report

o Cabana—When the cabana/pool was introduced, many members said that few members used the existing pool at the time, so why build a new pool and add a cabana? We now know how valuable the cabana and pool have been to our members and their families. • Attracting Future Members: Prospective members compare similar communities in Florida based on member density, quality of homes in the community, club facilities, member programs and activities offered, and culture. The Committee wanted to understand how other clubs position themselves with prospective members. The next generation of members, who are the lifeblood of the country club business model, must view FCC as a desirable club to buy a home. • We know that our improvements have drawn new members to our club. The fitness center, pickleball courts, and cabana were needed and valued additions to our world-class golf courses and tennis facilities. We must continue to adapt to thrive, and upgraded facilities attract new members, increase current member satisfaction, and improve property values. Answer: Shadow Wood is our closest competitor in Lee County. While the club has more front doors than FCC, resulting in more members to fund improvements, those members also pay for more extensive facilities. Our potential clubhouse would result in 46,000 sq. ft. under air, which is 72% of Shadow Wood’s clubhouse (64,000 sq. ft.), consistent with the ratio of Fiddlesticks' 585 front doors to Shadow Wood’s 900 front doors (72%). Outdoor Dining: Shadow Wood's clubhouse provides 45-50 % outdoor seating. Today, the FCC clubhouse can seat 15% outdoors, and the proposed design will allow us to seat 50% outdoors (25% dedicated outdoor seats and 25% hybrid). Investment: Built in 1998, it is 15 years (33%) younger than Fiddlesticks yet has invested over $50 million in a clubhouse, cabana, and fitness -related facilities since opening. (note: in today's dollars, the project cost would be higher) 12. Why compare FCC to a larger club like Shadow Wood?

13. What consultants have the Board and Committee used to provide advice? Answer: The following consultants have been advising the Committee and Board.

15