DAYTONA BEACH, Fla., Dec. 1 FL-ConsolidatedTomoka
DAYTONA BEACH, Fla., Dec. 1 /PRNewswire-FirstCall/ -- Consolidated-Tomoka
Land Co. (NYSE Alternext US: CTO) announced today that it has named Linda
Loomis Shelley to the Company's Board of Directors. Ms. Shelley, who
qualifies as an independent director, fills a vacancy on the Board created by
the retirement of Bob Allen. She will stand for election at the Company's
2009 Annual Meeting and serve in the class of Directors with terms expiring in
2010.
William H. McMunn, Chairman and CEO of Consolidated-Tomoka stated, "Linda
Shelley is an accomplished professional whose background and broad experience
are uniquely relevant to our Company's business. Linda is well known and
respected across the State of Florida and has extensive knowledge of growth
management, environmental issues, land planning, and the legislative and
regulatory process. We are very pleased to welcome Linda as a new independent
member of the Board and look forward to her contributions."
Ms. Shelley is a shareholder in the law firm of Fowler White Boggs PA,
where she specializes in environmental and land use issues and chairs the
firm's business department. She has extensive experience in Florida state
government, having served in numerous key positions, including as General
Counsel to Governor Bob Graham and as Chief of Staff to Governor Lawton
Chiles. She also served as the Secretary of the Department of Community
Affairs ("DCA"). DCA is the state's land planning and community development
agency, which ensures that new growth complies with Florida's growth
management laws.
In addition to other professional roles and accomplishments, Ms. Shelley
is a member or trustee of several community and professional associations.
Ms. Shelley earned her J.D. from the University of Florida, Levin College of
Law and her B.A. from the University of Florida. She is a resident of
Tallahassee, Florida.
About Consolidated-Tomoka Land Co.
Consolidated-Tomoka Land Co. is a Florida-based company primarily engaged
in converting Company owned agricultural lands into a portfolio of net lease
income properties strategically located in the Southeast, through the
efficient utilization of 1031 tax-deferred exchanges. The Company has low
long-term debt and generates over $9 million in annual before tax cash flow
from its real estate portfolio. The Company also engages in selective self-
development of targeted income properties. The Company's adopted strategy is
designed to provide the financial strength and cash flow to weather difficult
real estate cycles. Visit our website at www.ctlc.com.
SOURCE Consolidated-Tomoka Land Co.
