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John Mitchell Place 2 February 1994 Page 3 <br />a homeowner's association with covenants written to protect the natural character of the property. A <br />trail will provide access to the lake for pedestrians only. Any watercraft used by residents would <br />have to be hand carried. A single pier or dock would provide the opportunity for fishing and <br />swimming. <br />The projects as proposed also suggest an exchange of lands to occur with the church. While the <br />specifics of this exchange have not been finalized, the church has been approached and has indicated <br />that they would be in favor of such an agreement. <br />Development Opportunities <br />We believe that there will be many significant advantages to developing the property as a townhome <br />as opposed to single - family project. Foremost is the ability to contain the amount of site grading to <br />the smallest area possible. Preliminary studies show that 20 units of single - family development <br />would require the grading of approximately 6.4 acres of the site for public streets, driveways, yards <br />and larger homes with three -car garages. In contrast, the proposed townhome development would <br />grade less that 5 acres of the site. In addition, the homeowners covenants would restrict the removal <br />of vegetation for yard space, and other amenities, such as private pools, tennis courts and private <br />individual docks would not be allowed. Because the townhomes are being combined into only two <br />unit structures, the character of the development as viewed from the street or from across Twin <br />Lake would be similar to any other high quality single - family residential development. <br />Page 14 <br />