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• <br /> Letter of Agreement: Terra Buono Properties III and the City of Eugene Page 2 <br /> 6. A policy of limiting new park development to low maintenance amenities prevails at the <br /> time this Letter of Agreement is drafted. Amenities allowed include paved paths, hard surfaced <br /> play areas, playground apparatus, picnic tables and benches. <br /> As we move ahead on acquiring the new neighborhood park site we are in agreement on the <br /> following procedures and methods: <br /> AGREEMENTS <br /> A. The Developer will convey to the City a neighborhood park site of approximately 2.2 <br /> acres, located one block north of Crescent Street and one block west of Game Farm Road, as <br /> shown on the attached Exhibit A (from the tentative plat). The exact size and legal description <br /> will be determined and approved by the City during the design of the surrounding subdivision. <br /> The conveyance shall be completed by dedication in the subdivision platting. <br /> B. The City agrees to pay for the property with cash, land exchange, or a combination of <br /> cash and land exchange. The value by any of those means shall be determined by May 31, 1996. <br /> Payment, or a first installment, shall be made within 30 days following the recording of the <br /> subdivision, or June 30, 1996, whichever is later. With terms acceptable to the seller, and at the <br /> City's option, the City may defer full payment for up to 24 months. <br /> C. The value of each parcel of ground to be purchased or exchanged under this agreement <br /> shall be determined by appraisal, using a mutually agreed upon professional land appraiser, with <br /> the cost thereof shared equally. <br /> D. The City agrees to pay for half of the street construction costs fronting on each park <br /> parcel, based on the average lineal front foot cost of construction, which consists of paving, <br /> sanitary and storm sewers, water line, and engineering costs. Developer shall provide to the <br /> City a written accounting of the construction costs described above. Said costs are subject to <br /> City's review and approval. <br /> E. The City agrees to allow the Developer, at the Developer's expense, to prepare a park <br /> development plan with a qualified design professional subject to the following conditions: <br /> (1) The neighborhood park shall be designed to serve people within walking distance <br /> of the park. Amenities commonly found in neighborhood parks include <br /> playground apparatus, paved paths and a hard surfaced play area (basketball), <br /> benches, picnic tables, turf, trees, landscape plantings, and park lights. <br /> Rest rooms, tennis courts and off -street parking are not appropriate for a park of <br /> this size. <br />