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POver <br /> <br />13065 0r0no Parkway <br />Elk River, MN 55330 <br /> <br />January17,20o2 <br /> <br />FILE COPY <br /> <br />Richard LeFavor <br />19928 Industrial Boulevard <br />Big Lake Minnesota 55309 <br /> <br />By U.S. Mail and Fax (763-262-6531) <br /> <br />Dear Mr. LeFavor: <br /> <br />As we discussed last week and on Monday, January 14th, the Park and Recreation <br />Commission considered your offer for 70 acres of park land located in the northeast corner <br />of the City. The Commission feels strongly that this area of the City needs some type of <br />park amenities, in fact these discussions have been occurring for a number of years. They <br />also felt that the property in question could become the foundation of a larger park facility <br />which is a point you and I had discussed. <br /> <br />After much discussion, however, the Commission decided that they could not recommend <br />an expenditure of $500,000 for 70 acres of land that is predominantly undevelopable. The7 <br />felt that if developers were uninterested in the property, the City should not purchase the <br />land at such a high amount. The counter offer that the Commission would like to present, <br />and will recommend to the City Council is a purchase price of $300,000 for 70 acres of land, <br />50% down, the remainder to be paid in five equal installments at a 5 percent interest rate. <br />This recommendation, unless you chose to provide a written withdrawal of your request, will <br />be presented to the City Council at their meeting of January 22, 2002. <br /> <br />It has been a pleasure discussing these issues with you and I hope that we can have similar <br />conversations in the future. <br /> <br />Sincerely, <br />M~Pherson <br />Director of Planning <br /> <br />Phone: 763.441.7420 <br />Fax: 763.441.7425 <br /> S:\PLANNING\MICHMC\LETTERS\LeFavor.doc <br />www. ci.elk- river, mn.us <br /> <br /> <br />