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.' ~ of Paris Study of Lake Crook March, 2001 I 3.4 . OPTION 3 - DENSE RESIDENTIAL DEVELOPMENT 3.4.1; Description of Option 3. In Option 3, the consultant investigated the development ofaIl suitable lands on the north and west shores into small lots (approximately 1/4 acre). Suitable lands for the purposes of this study were all those lands not in a wet land or floodplain. We did, however, exempt the south shore line as being unsuitable for residential development due to the proximity of Campbell Soup disposal fields, the water treatment plant and the limited access available for a large permanent population, Because the lots were much smaller than in Option 1, the possibility of county road section paving and on-site sewage disposal was ruled out completely. This option presumes the installation of public concrete streets with concrete curbs to city specifications. In addition, Option 3 assumes that all lots will be served with public sewer system lines, As in the case of Option 1, if sewer lines are required, the development of the west shore (I, II, and III) are dependent on the development of the north shore. The \vest shore development will simply not support the extraordinary costs for extending \vater and sewer lines unless it is coupled with the north shore development. ... Another variation from Option 1 to be found in Option 3 is the set-aside tract between the north end of the dam and F.M, 1499. In Option 3, this 100 to 150 acres of land is proposed as retirement community land hosting everything from full care nursing facilities to assisted living units to unassisted retirement living residences. During the public hearings there \vere a number of speakers \vho addressed the aging of the population and the need for retirement housing in Paris, Additionally, a proposed community recreation facility open to all of the city is sho\vn on a hill overlooking the lake. This community center could house 'meals-on-wheels', senior services such as temporary health screenings, small banquets, bridge and domino parlor rooms, and other meeting areas \\"ith a beautiful vista looking south over the lake. Adjacent to this community center a north shore boat ramp and fishing pier is depicted. Throughout the rest of the north shore development, small areas of greenbelt park are shown to break up the expanse of housing. Even so, Option 3 shows approximately 1,180 lots total in four separate units of development. The north shore development alone could produce a minimum of 544 high quality lots, Some lots in the concept plan are waterfront lot and many others are waterview lots, both of \vhich \vill command a higher retail price than any other lots in Paris. 3.4.2 Recommendations Concerning Option 3. Option 3 is clearly the more difficult of the options to implement. Several local developers expressed skepticism that anyone locally would be in the position financially to take on the development of the north and west shores under this option. For one thing, the cost of the infrastructure totaling as much as $20,000,000 over a twenty year period is a substantial risk. And while the developer(s) is risking his finances in hope of a huge financial gain, the city will have given up control of the land. The ~downside' , at which every good business entrepreneur must look, is the very real potential for failure. If the land development venture fails, then the land falls into the hand of some financial institution with the responsibility of conveying the land to a third party who mayor may not have the city's best Page 32 of 45