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M E M O R A N D U M DATE: September 1, 1988 TO: Jim Andre FROM: Craig . Waldron SUBJE : atus of Lexington Sc ool Project. Jerry Kaufhold and Tom Dunwell were in to meet with Rick and myself (August 31) to formally submit the modified proposal for the Lexington School site. The approval of the modified' ;{ proposal, which is essentially the same project that was. discussed at the August 29th work session, is contingent -upon the approval of an ancillary agreement between Kaufhold and the City.' The essence of the agreement, as I understand it, would be, as follows: 1. Kaufhold agrees to dedicate 1 acre to the city. 2. The School District agrees to dedicate an additional acre to the city, in return the city agrees to fund a police school liaison officer (originally, pursuant to tl:e. direction at the Council/Staff breakfast meeting, you and I had approached Worner regarding a voluntary dedication of two acres in additi -n to the 1 acre that would be provided by Kaufhold) . 3. The city would agree to consider tax increment financing for the three acre housing development. Tax increment would not be considered for housing during the first two years that Mr. Kaufhold owns the project, nor after 10 years of ownership. 4. The city agrees to purchase an additional acre of park predicated on the fact that the city and Kaufhold could reach agreement on the price and that the payments would be made on an installment basis. It would be my recommendation that in order to properly proceed, we should discuss this ancillary agreement with the city council to ensure agreement with this particular approach. Secondly, I recommend that the city proceed to secure an appraisal on the property with respect to the 1 acre purchase in order to facilitate negotiation with Mr. Kaufhold.