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Gerald Kaufhold, Case No. 1787 Page 2 of this parcel is proposed to be zoned B-1. The southerly 30 feet of this parcel would be a landscaped strip to protect the single-family homes immediately south of Eldridge Avenue. Under the recent Ordinance adopted by the Council, parking in the B-1 District is to be utilized for the B-3 District. Application for this special use permit has not been requested at this time, though that could be handled at a later point (because the Ordinance had not been adopted by the Council as yet). This parcel would consist of 2.3 acres with a frontage of 318 feet on Lexington Avenue. 4. The remaining Parcel C would consist of 1.9 acres which equals 82,600 square feet; 36,750 square feet of this land would be dedicated as required where property originally zoned R-1 is platted and consists of more than 5 acres. The remaining 45,850 square feet is proposed to be sold to the City at a price of $125,000 or $2.27 per square foot. The first parcel contains the existing ball field as it is. The retention of at least this portion of the school site is deemed an important element in the overall community park service system. 5. Attached is a copy of the development description as submitted by the applicant. The statement is in the form of answers to some of the questions on the application beginning with number 6 and ending with number 19, which is the request for a statement on the application form. Also attached is a copy of a proposal signed by Mr. Kaufhold and dated July 1, 1987, offering the 45,850 square feet to the City at a price of $125,000. 6. Frankly, we were hoping that a development proposal would come forward that involved the total redevelopment of the land with new structures and a retention of most of the existing recreational areas for park purposes. We had suggested some months ago the adoption of an ordinance amendment that would have provided for the development of commercial space on the former school sites without rezoning, where up to 50 percent of the land would be dedicated for public purposes. This provision, however, was not adopted and cannot be used as a basis for settlement in this proposal. However, we do suggest, and the developer and architect concur, that the reuse of the existing school site will likely be an interim use. There is no question that the 4 acre parcel they propose can be better used if redeveloped for new buildings given the excellence of the location. 7. The three story office building with Rose Galleries on the first floor seems a reasonable density for the parcel since it is directly north of Eldridge and across the street from the church. The retention of the 30 feet of planting along the south side of the site (suggested by the Staff) offers some protection to the single-family home owners to the south of Eldridge. 8. The retention of the park facilities in the neighborhood is extremely important, and the retention of the southeast quadrant as proposed offers a means of transition to the single-family homes near the southwest of the site. Although the $125,000 seems like a lot of money, when attempting to acquire existing development for park land in the City in most cases, this amount would buy one single-family home and its lot. Comparable with the proposed dedication and given the sensitivity of the area, a figure in the vicinity of this amount is