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Mayor Hanson and <br />Council Members <br />November 4, 1992 <br />Page Two <br />E. In anticipation of the acquisition of his property, Mr. <br />Maisam has previously made contingency plans which he has <br />now had to exercise to preserve his ability to move. He <br />has made significant financial commitments which now are <br />extremely difficult because of the lack of progress on his <br />Little Canada property. <br />It would appear that the solution to Mr. Malsam's situation <br />which would best preserve the City's longer term development <br />objective is a direct acquisition by the City at this time. It <br />would solve the situation which Mr. Maisam now finds himself in <br />at no fault of his own. A direct acquisition by the City would <br />also serve the interests of the City as follows: <br />1. It would give the City complete site control. <br />2. It results in an acquisition negotiated at prices set <br />by today's market rather than a possible future "last <br />parcel" scenario. <br />3. It removes a measure of uncertainty when the City <br />negotiates with potential future developers of the <br />site. <br />4. It accomplishes some fairness within the City's <br />effectuation of its plans for this area. <br />We wish to appear before you to present, in more detail, our <br />thoughts on how this might be accomplished within the resources <br />and timing requirements of the City. Kindly notify me of the <br />first available opportunity to appear on your agenda for that <br />purpose. <br />Sineerfly, <br />Rdllin H. Crawford <br />RHC:ln <br />cc: Mark Maisam <br />Page 15 <br />