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MINUTES CITY COUNCIL OCTOBER 29, 1991 Costa pointed out that the City will get approximately $20,000 per year in property taxes from the Costa Estates development. The City Administrator pointed out that easement costs amount to $2,362 per lot for the 11 lots which are a part of the first phase of the Costa Estates development. An option would be to spread easement costs against all the lots in the Costa Estates plat. The Mayor asked if the $2 per square foot was agreed to in the Development Agreement. The City Administrator replied that it was. Mr. Costa again stated that he questioned the $2 figure from the beginning. The City Administrator stated that the agreement exists, the issue is whether or not the City wants to amend the agreement. Mr. Costa stated that he argued against the $2 figure when he signed the agreement always feeling it was too high. Costa again pointed out that the City paid 55 cents per acre for the property. Biesener stated that he would be willing to consider the $1.35 per square foot figure feeling there was a. basis to do so since the Country Drive property was written down to that amount. Costa asked the reason for the extra width on Desoto. Collova replied that the City decided to post the west side of Desoto as no parking except for when there are special events in Pioneer Park. During special events on- street parking will be allowed, and the extra width will accommodate that parking. The City Administrator reported that at the $1.35 figure, total easement costs would be $34,460.78, which would result in a net of just under $62,000 for the City. Collova pointed out previous Council discussion that the $1.35 figure for the Country Drive property was too low. Biesener pointed out that Business Development Services substantiated the $1.35 figure. Page 13