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Date: 01/21/93 <br /> From: Johnny Medlin CEWMJRM - RIS1 <br /> To: Linda Norris CEPNLHN - RIS1 <br /> cc: Pam Berrian CEEXPCB - RIS1 <br /> Bob Hammitt CEWMJRH - RIS1 <br /> John Etter CERMJFE - RIS1 <br /> Subject: Golden Gardens Golf <br /> Hi Linda, <br /> I'm sure that we will not have the appraisal question worked out by <br /> Monday. The more we look into it the more questions we have. I'm <br /> very uncomfortable with going to Council without this issue resolved. <br /> I've just learned that the County sold to an adjacent land owner the <br /> pond immediately south of Golden Gardens (within 500') in 1986 for <br /> approximately $ 1,700 an acre. This makes me real uneasy about the <br /> private appraisal we received saying the Golden Garden ponds are only <br /> worth $ 800 an acre. <br /> Therefore, I've asked Pam Berrian to take this item off the Council <br /> Agenda for the 25th. Ken Doud is meeting with the private appraiser <br /> tomorrow afternoon but I can't estimate what will be resolved. I don't <br /> think it would be wise to assume we will be ready for Wednesday the <br /> 27th either. I recommend we not schedule anything with the Council <br /> until this is fully resolved. We have a date reserved about two weeks <br /> into February with the Council and perhaps that one will work. <br /> This issue has the possibility of killing the whole deal. The golf <br /> course developer doesn't have to have this parcel to develop a golf <br /> course. If we do end up raising the value it could easily become <br /> too high for us to cover with additional traded land. I'm not sure <br /> that we would want more land than we have already identified. If that <br /> became the case we would then have a value difference to deal with which <br /> brings up a number of other concerns which would need resolution. <br /> In light of these questions still to be resolved, I wonder if it wouldn't <br /> be a good idea to postpone our meeting with Shawn and Barbara? Please <br /> let me know your feelings on this? <br /> Thanks <br /> Johnny <br />