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r <br /> the church, concerning their future intentions. As it turns out, <br /> the church has investigated the possibilities of housing <br /> development on the north-side of the property in the form of a <br /> cul-de-sac coming off of Oak Lane. In the discussion of this at <br /> the church building meeting it was indicated that because of the <br /> wetland delineation on the east side this area a cul-de-sac was <br /> not possible. We were hopeful that a wider bituminous surface <br /> could be provided through this area and into the land exchange <br /> area off that I talked about earlier. It is still the opinion of <br /> Rick Carlson and city staff that this could be done. <br /> Rick would have been open to this land exchange/and park <br /> dedication with the additional land as a credit on future <br /> development. The church would have a park dedication at this <br /> time since it would than be a subdivision. <br /> All of this leads up to the discussion that I had with the church <br /> building committee. The bottom line is the church is interested <br /> in working with us on a lease purchase agreement, but it appears <br /> that the lease would be for 8% of the fair market value each year <br /> without the lease price taken off of a final purchase option. <br /> I expected a letter from Tim Yantos today and have not yet <br /> received it. I will bring this letter to the meeting if I get <br /> it. <br />