NORTHWEST PLAZA REDEVELOPMENT TIMELINE

June 2006 -             Somera Capital Management and Zelman Development purchased Northwest 
                              Plaza from the Westfield Group. 

December 2006 -     The new owners presented their conceptual plan to redevelop the property to the 
                              Board of Aldermen.  They indicated that their plan would require a private/public
                              partnership through the use of Tax Increment Financing.

February 2007 -      The City issued a Request For Redevelopment Proposals (RFP) for Northwest 
                             Plaza and formed a Tax Increment Financing (TIF) Commission.

March 2007 -          Somera and Zelman (The Developers) submitted their response to the City's RFP.

April 2007 -             The TIF Commission begins meeting to review proposed project.
 
August 2007 -         The TIF Commission recommends that the St. Ann Board of Alderman adopt the
                             Redevelopment Plan for Northwest Plaza.

September 2007 -   On September 24, 2007, the Board of Aldermen unanimously approved the 
                             TIFCommission Recommendation and adopted a Redevelopment Plan and 
                             Agreement for the birth of Lindbergh Town Center.

February 2008 -      Zelman/Somera announce the execution of a lease with Wal-Mart Corporation 
                             to open a 200,000 SF Wal-Mart Superstore as an additional anchor to the project.
                             Zelman and Somera also announce they have begun marketing the property.  They
                             state that any sale would not be expected to disrupt the development or otherwise 
                             affect the rights and responsibilities under the redevelopment agreement. 

July 2008 -            The City and Zelman/Somera enter into a amended Redevelopment Agreement   
                            which is intended to facilitate the accelerated redevelopment of Sears as a long 
                            term anchor for the project and make first Municipal Services Payment to fund 
                            critical City services during redevelopment. 

May 2009 -            Zelman/Somera indicate that due to the near collapse of the Financial Sector, 
                            they are unable to move forward with the project.  Due to their inability to preform
                            the City terminates Zelman/Somera's redevelopment rights at Northwest Plaza.

September 2009 -  Lenders foreclose on Zelman/Somera and the property is acquired by 
                           Zelman/Somera's lenders at the foreclosure sale under "St. Ann Shopping Center
                           LLC". "St. Ann Shopping Center LLC" is a holding company that, by covenant
                           among the debt holders, is unable to make or agree to any significant changes to
                           the property.  They can only market the property for the value of the debt.
                           The City begins to discussions with "St. Ann Shopping Center LLC" about
                           providing a way to facilitate a mechanism for the property to be acquired by an 
                           third party that is capable of repositioning the property.

January 2010 -      The City enters into an assignable option contract to acquire the property for $13
                            Million. 

March 2010 -        The City enters into a Preliminary Development Agreement with G.J. Grewe to 
                           redevelop the property.

May 2010 -           The City formally selects G.J Grewe to redevelop the property into "Lindbergh
                            Landing".  

June 2010 -          The City enters into a Term Sheet with G.J. Grewe for "Lindbergh Landing".