Green Planet Company

During 2019 we were able complete the purchase of the 15 acre property at 376 state street, guilford ct.during 2020, we sub-divided the 15 acre property at 376 state street into 4 lots. The existing house plus 3 acres of land were on one lot and was sold during 2020 resulting in a partial re-payment of the acquisition loan. Work on two lots (one 1 acre and one 1.5 acres) was started in november, 2020 as stand alone affordable homeownership homes. A special permit from the town of guilford planning and zoning commission was granted in april, 2020 for an 8 unit cottage community on the remaining 9.5 acre lot. Work on the first 2 lots (phase 1) of a 10 home affordable homeownership project in guilford was 90% complete in 2021. The homes were under contract with a closing scheduled for spring 2022. Preliminary sitework on the remaining 8 homes (phase 2) was started. As of december 31, 2021. During 2022, work on the first 2 homes (phase 1) of a 9 home affordable homeownership project located at 376 state street, guilford, ct was completed and the homes were sold. Work on the remaining 7 homes (phase 2) commenced in june 2022. By years end, the 7 home project was 40% complete. As of december 31, 2022, we have spent a total of $2,546,151 (net of $1,612,081 of costs removed with property sold in 2020 and 2022) on development work and have included these amounts on the balance sheet. These costs included the development of the property at 376 state street, guilford ct and various costs related to the development of this property that included surveys, architectural, engineering, environmental, and construction.