Clear Creek is an ongoing project currently being planned by Southgate. Since inception the project has presented several interesting hurdles. The 400+ acre tract is located in both Iowa City and Coralville as well as Johnson County. Southgate has been able to pull both Iowa City and Coralville together to complete a memorandum of understanding which outlines how the project will be developed. Issues ranging from annexation and severance to land use are outlined in this agreement which was unanimously approved by both City Counsels. We are currently in the engineering stages for Camp Cardinal Road which will extend from Hwy. 6 in Coralville to Melrose Ave. is currently under construciton. The road, expected to be completed in the fall of 2005, will open the site for future residential and commercial development.