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M E M O R A N D U M DATE: September 1, 1988 TO: Jim Andre FROM: Craig A. Waldron SUBJECT: Status of Lexington JSool 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 a proposed agreement between Kaufhold and the City. It is my understanding the proposed agreement as developed by the mayor and Kaufhold is 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 the direction at the Council/Staff breakfast meeting, you and I had approached Worner regarding a voluntary dedication of two acres in addition to ,he 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. It is unclear if there is Council understanding or consensus on this provision. 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 proposed agreement with the city council to ensure concurrence with this particular approach. Based on our discussion, I will be securing an appraisal on the land to be acquired for park purposes.