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Page 3 <br /> Mr. DeGardner <br /> March 31, 1998 <br /> This results in a net proceeds to the City of $27,909.00 at time of closing of the lot sale. If <br /> a 10.0% contingency is added to the 'hard' costs ($2,755.00/lot) and one year of interest for <br /> financing improvements at 10.0% ($2,755.00/lot) is added to the cost of the lots, then the net <br /> proceeds to the City could be a loss of $10,661.00. The remaining park parcel would still <br /> have an estimated area & unit charge of $113,312.81. <br /> The above analysis concludes that PLAN 2 offers the City the least amount of risk and the <br /> most amount of dollars and value. <br /> I will attend the April 6, 1998 Park Board meeting and assist in the presentation of the above <br /> information. If you have any questions, please contact me. <br /> Sincerely yours, <br /> Jo C. Johnson, P.E. <br /> cc: Gary Uhde <br /> n <br />