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park site, and 4 -J provides an equal area on the south end of the reacquired <br /> parcel from EWEB. The areas of exchange are estimated to be approximately <br /> 65,000 square feet. Any difference in appraised values requiring compensation <br /> shall be settled with cash. <br /> 3. The City should negotiate the trade with Paradise Development wherein the <br /> current park site is deeded to the developer, and the developer deeds <br /> approximately 3 acres to the city for park land east of the school and cash <br /> for the differential, all according to the agreement.formalized by the letter <br /> of 3/12/93 signed by representatives of the city and developer. <br /> Following the completion of the three actions described above, a simultaneous <br /> closing and transfer of properties will be scheduled. <br /> Appropriate staff will be present to answer question you may have as you <br /> consider these recommendations in your sessions. We request direction from <br /> you on how to proce. <br />