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M E M O R A N D U M <br />DATE: May 4, 1988 <br />TO: Jim Andre <br />FROM: Craig A. Waldron <br />SUBJECT: Lexington School Site <br />I have had the opportunity to meet with a number of developers <br />regarding potential multi -family projects on the Lexington School <br />site. The Baton Development Company is the most interested in <br />this site and is willing to look at a medium density residential <br />project with approximately 3.acres of park to the south. <br />At this point in time, Baton will be meeting with Kaufhold to <br />ascertain whether they can buy his rights to develop the <br />property. If Kaufhold is agreeable, the developers will proceed <br />to meet with the school district to ascertain whether there is <br />any flexibility to the terms that the school district formulated <br />with the original Kaufhold contract. If these 'two meetings <br />produce favorable results, Baton will again meet with me to <br />review the type of agreement that can be worked out with the City <br />in terms of the park dedication, C.D.B.G., tax increment, type of <br />payment, etc. <br />If in fact Kaufhold and the school district are not willing to <br />negotiate, the City may have to let Kaufhold's deal run its <br />course. In the event that he defaults or does not decide to <br />proceed with his deal, Baton would then be interested in entering <br />into negotiations with the school board, and subsequently the <br />city. It should also be pointed out that the School Board has <br />extended Kaufhold's final payment from August to October. <br />