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M E M O R A N D U M <br />• DATE: April 15, 1988 , <br />TO: Jim Andre <br />FROM: Craig �. Waldron <br />SU&TECT: Potential D�velopmen on the Lexing�on Schoal Site <br />Attached is a�alysis regar ng �otential development on the <br />Lexington School site with respect to housinq, park a�� <br />�ommercial projects. The analysis is predicated on offsetting <br />the developers cost with respect to fair mark�t value and <br />purchasing any of the �ark land desired beyond the ini�ial � <br />acre, which would be dedicated. <br />It appear,s thaz a number of sc�narios can w�rk, both in terms of <br />the city's prioritxes and potential tax in�remen�. <br />It would be my recommend��ion �hat the city ofier to work with <br />Kauf�old and a number �f �he majar housing devel�pers to revi�w <br />the poten�ial of a housing�park development on th�s site. This. <br />would seem to �e �he most logical step in that i� would offer � <br />situation for a11 parties involved. The �cenag�.os will be <br />discussed in more detail at the work s�ssion. <br />� <br />� <br />