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October 21, 1988 Mr. Craig Waldron Community Development Director City of Roseville Dear Mr. Waldron: I have received your offer dated October 18, 1988, to purchase one acre of land from the Lexington School site, which will be added to the two acre park site otherwise dedicated. I have offered to sell one acre to the City of Roseville for the sum of $125,000, and I find your offer of $72,000 unacceptable. The appraisal appears to treat the property involved as acreage rather than desirable lots for one family houses. The configuration of the acre appraisal could not be easily divided into lots, also, the area appraised does not match the proposed park configuration. The actual area faces Eldrige Ave. and proceeds west from Lexington, approximately 363 feet and is 120 feet deep. This configuration would produce four lots, approximately 10,900 square feet each. I could readily sell these lots for at least $40,000 each, since I have a list of people willing to purchase such lots. A second alternative would create three large lots, approximately 14,500 square feet each, which I believe would sell for over $50,000 each, based on discussions with prospective buyers. Your office prepared a scenario which led to the proposal approved by the Council. In that scenario you suggested the City pay $157,000 for one acre of land. Mayor Frank Rog prevailed upon me to reduce that amount as much as possible in order to reach a cooperative agreement. In response to his request I conceded to accept $125,000 for the one acre of land. During the Planning Commission and Council meetings, I was asked to make concessions as to the shape of various lots and to accept changes in zoning requested. I accepted these changes,based on my offer to sell the acre for $125,000. I also conceded to dedicate a full acre of land to the park site, which is approximately 8,000 square feet more than the ordinance requires. School District #623 has agreed to reduce my purchase price by $125,000 for the one acre that they are giving to you in exchange for services. The purchase price of the site and the expenses incurred to resolve the future use of this property, coupled with the concessions I have already given in good faith, do not allow me to accept less than $125,000 for this acre of land. I have been open with you during our negotiations and have cooperated with the City and neighbors to reach an acceptable solution to the use of this site, even to my financial dismay. I hope that you will consider this in your response , which I need by October 25th, as the closing will occur the first week in November. Sincerely, Gerald H. Kaufhold