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LEB Development - -Phase II <br />Page 4 <br />RECOMMENDATION <br />We have completed an analysis of the Phase II project, subject only to the <br />future market value verification. Plans have been submitted to the County <br />for their review and, based upon their appraisal of the Phase I project, we are <br />confident that we will achieve our $650,000 value. <br />Subject to resolution of the public costs associated with Nadeau Road, we <br />would recommend that the City Council request the preparation of a <br />Development Agreement between the City of Little Canada and LEB <br />Development consistent with the structure outlined in this memo. Your <br />consideration of this information is appreciated. <br />PWP /ld <br />Page 17 <br />