Laserfiche WebLink
jP <br />jP <br />My <br />� EmA 0 R, A N D U M <br />I-ATE: June 1 1,jMffiM <br />TO: Steve Sarkozy <br />FROM: Craig, A.1 Waldron <br />SUBJECT: Modified Rosewood Prio sal <br />Rosewood has, mod if d 'its proposal rie,garding an eventual purchasm. <br />of the 35W/'36 site.i The basic elements of the Rosewood proposal <br />"1 0 <br />are as fiollo..-, 1 11 <br />is Each, homeownerw► uld be paid $40,000 cash upfront, <br />20 'The Hart estate would be paid, $157,,000 upfront, <br />3. The -City would pay down the balance at a rate of 7.5% per <br />,10 1 <br />year for six years.,I No interest would be forthcoming to the <br />homeowners or the, Hart estiate. <br />J. a <br />This is a nion-riecourse proplosal to the City, thus, Roseville <br />0 <br />is, not requi' red to make any of the f inal payments or <br />eventually 11take, out" the propertys <br />D�olei,s, the City want to purchase this land without any <br />development prospects at this point in time. <br />2 10 Does, the City wish' to -hold this land indefinitely until <br />