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2/21/2024 12:15:36 PM
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Planning Files - Planning File #
1787
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u <br />October 21, 1988 <br />Mr. Craig Waldron <br />Community Development Director <br />City of Roseville <br />Dear Mr. Waldron: <br />I have received your offer dated October 18, 1988, to purchase one acre of <br />land from the Lexington School site, which will be added to the two acre <br />park site otherwise dedicated. I have offered to sell one acre to the City <br />of Roseville for the sun of $12S,000, and I find your offer of 072,000 <br />unacceptable. <br />The appraisal appears to treat the property Involved as acreage rather than <br />desirable lots for one family houses. The coatiguratiom of the acre <br />appraisal could not be easily divided Into lots, also, the area appraised <br />does not match the proposed parr configuration. The actual area faces <br />Eldrige Ave. and proceeds vest from Lexington, approximately 363 feet and <br />Is 120 feet deep. This configuration would produce four lots, <br />approximately 10,900 square feet each. I could readily sell these lots for <br />At least 840,000 each, since I have a list of people willing to purchase <br />such lots. A second alternative would create three large lots, <br />approximately 14,500 square feet each. which I believe would sell for over <br />850,000 each, based on discussions with prospective buyers. <br />Your office prepared a scenario which led to the proposal approved by the <br />Council. In that scenario you suggested the City p,ay $157,000 for out acre <br />of Land. Mayor Frank Rog prevailed upon at to reduce that amount as much <br />as possible in order to reach a cooperative agreement. In response to his <br />request I conceded to accept $12S,000 for the one acre°of land. During the <br />platinang Commission and Council meetings, I was asked to make concessions <br />as to the shape of various lots and to accept changes in toning requested. <br />I accepted these changes,based on ny offer to sell the acre for $125,000. <br />I also conceded to dedicate a full acre of land to the park site, which is <br />approximately 8,000 square feet sore than the ordinance requires. School <br />District e623 boo agreed to reduce my purchase price by S125,000 for the <br />one acre that they are giving to you in e:cbange for services. <br />The purchase price of the site and the expenses incurred to resolve the <br />future use of this property, coupled with the concessions I have already <br />given in good faith, do not allow me to accept le.s than $125,000 for this <br />Acre of land. <br />I have been open with you during our negotiations and have cooperated with <br />the City and neighbors to reach .an acceptable solution to the use of this <br />site, even to my financial dismay, I hope that you will consider this in <br />your response , which I need by 0-,tober 25th, as the closing will occur the <br />first week in November. <br />Sincerely, <br />Gerald H. Kaufhold <br />
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