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<br />t' <br /> <br />March, 2001 - <br /> <br />- <br /> <br />~ of Paris <br /> <br />Study of Lake Crook <br /> <br />, <br /> <br />interests at heart no matter how well thé city might choose a developer in the first place. Any <br />lender, fmancing the development of streets and sewers, is going to require the land be <br />coll~teralized and even if the city inserts reversionary clauses in the contract of sale, is the city <br />prepared to pick up the debt to complete the work in the event of an unfortunate foreclosure? Not <br />very likely. <br /> <br />Table of Advantages versus Disadvantages for <br />Option 3 - Higher Density Development <br /> <br /> <br />~~~]f~rì~4t;~&t~~~ifi~{~ .,,'.~ ~.'. :~:.' , ,t~;J~}~w'~ m~¡Jf(titn~~1~~J.;i~~~~%~~~~fIJì~~1 <br /> <br /> <br />1. Revenue to the city from the sale of the <br />land bet\veen $1.8 million and $3,6 million <br /> <br />2. Increased tax base of perhaps $159 <br />million. <br /> <br />3. Increased sales tax from population <br />gro\Vth of perhaps $1.0 million per year <br /> <br />... <br /> <br />4, Development of a retirement community <br /> <br />5. Preservation of park land on the south <br />and west shores. <br /> <br />6. Concrete streets minimjze future <br />maintenance costs to the city <br /> <br />7, More revenues &001 water and sewer <br /> <br />8. Lowest develo ment cost er lot <br /> <br />1. Loss of an asset for future generations <br /> <br />2, Hunting, archery and gun ranges would <br />not be permitted under this option, <br /> <br />3. Can a development survive the often <br />intolerable odors arising from Campbell <br />Soup disposal fields to the south? <br /> <br />4, Risk to the city if a developer fails. <br /> <br />5. Potential for pollution from fertilizers <br />and insecticides. <br /> <br />6, Requires stretching police and fire <br />protection to the north shore area. <br /> <br />7. More maintenance required for 6 miles <br />0 f new \vater and se\ver line and perhaps <br />1,100 customers. <br /> <br /> <br />Page 33 of 45 <br />