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Mr. <br />James Andre <br />Page <br />2 <br />24 <br />May 1984 <br />5. <br />Park Development $50,000 plus engineering <br />This would include the development of a new p public park on the land <br />dedicated to the city and would include: <br />a. Sod $18,000 <br />b. Plantings 15,000 <br />c. Benches and trellises 8,500 <br />d. Walks 2,800 <br />6. <br />Existing Assessments $20,000 approximately <br />There is approximately $20,000 existing assessments against the land <br />that would be assumed by purchase agreement. <br />7. <br />Soil Correction of Peat $114,000 — $262,000 <br />Bids were taken on soil correction with various contingencies as <br />related to placement of excavated material and other conditions <br />uncertain at this time. We anticipate that the actual cost would <br />fall somewhere between these figures and might be the responsibility <br />of the developer for the Following reason: <br />a. The work should be accomplished during the dry season, preferably <br />before September. Late fall, winter or spring are not possible <br />due to moisture sensitive compaction requirements. This may not <br />be possible to accomplish within the time constraints of a new <br />development district. <br />8. <br />Land Purchase Option $165,000 plus interest <br />The Schwarz family currently <br />y c rently holds title to the property. $20,000 <br />has been paid down and 12 percent interest accrues on the $145,000 <br />remaining balance. Terms and conditions on the purchase option are <br />available for review. <br />Sii cerely, <br />TH <br />HOUSING ALLIANCE, INC. <br />Ary <br />d Elness <br />Pre <br />dent <br />vjl <br />1 <br />