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® MEMO TO: MAYOR AND CITY COUNCIL <br />FROM: CLERK -ADMINISTRATOR PAULEYOW <br />DATE: MARCH 23, 1988 <br />SUBJECT: 8100 GROVELAND ROAD ACQUISITION <br />Attached please find a memorandum from City Planner Kim Herman <br />outlining conversation she has had with Mr. wait Hartman <br />regarding the feasibility of financing the purchase of 8100 <br />Groveland Road, should it be approved by the Council, with Tax <br />Increment funding. Council should alai be aware of the fact that <br />the purchase of this land could be financed using various City <br />funds including the general fund or water fund with the <br />understanding that those funds be reimbursed with interest should <br />an assessable public improvement project occur in the future <br />resulting in the extension of Knollwood Drive from Arden Avenue <br />from Sherwood Road. <br />Your direction in this matter regarding the purchase of the <br />property and the funding for that purchase is encouraged in order <br />to avoid any possible litigation being started by the property to <br />force the City to purchase the property or issue the already <br />requested building permit. <br />LAA <br />DFP/bac <br />Attachment: (1) <br />M <br />