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Willakenzie Plan. Staff agreed that this opportunity should not <br /> be dismissed and proceeded to explore the details of the <br /> exchange. <br /> March, 1993 - A letter of agreement is signed with the developer <br /> that described the basis and condition for an exchange. Due to <br /> the developer owning the land targeted for the new park location, <br /> it was determined that the City could work solely with the <br /> developer; no other developers had the targeted site. The <br /> agreement included a requirement that compensation be based on <br /> land values established by a real estate appraiser. <br /> The developer was also interested in additional property on <br /> Gilham Road owned by the Eugene Water and Electric Board (EWEB). <br /> Because EWEB had recently determined that, for an electric <br /> substation, this site was now not optimally located, they agreed <br /> to an exchange for part of a 4 -J owned site east of Coburg Road, <br /> which allowed 4 -J to make an exchange with the developer for more <br /> of the same property to the east of the school. Both agencies <br /> gained land more suitably located as a result of these exchanges. <br /> June, 1993 - Representatives of the agencies involved in the <br /> exchanges met at Gilham School, at the request of 4 -J, with some <br /> surrounding residents, most of whom had children enrolled in <br /> Gilham School. As residents of the neighborhood, their input and <br /> support was judged essential before proceeding with the <br /> exchanges. The final plan was also subject to City approval of <br /> subdivision proposals and street layouts in the area. <br /> November, 1993 - The exchange proposal was presented to a regular <br /> meeting of the Cal Young Neighborhood at Cal Young School. <br /> Feb - April, 1994 - EWEB Board, Eugene City Council, and 4 -J <br /> School Board approved the exchanges and authorized their <br /> respective staff to complete the process. <br /> May, 1994 - City and 4 -J staff agreed on final configurations of <br /> land to exchange. <br /> June, 1994 - An alternative method for valuing the land was <br /> established which ultimately (within approximately one year) <br /> would save the City a net amount of over $30,000. It involved an <br /> agreement by the developer to cover the full cost of street <br /> construction on the east side of the park (no assessment to be <br /> paid by City). <br /> July, 199 - Exchange completed. The off -leash area was <br /> withdruntil access to one of the new sites is created. The <br /> $68,800 cash differential was placed in a capital project account <br /> in the General Fund. <br /> Looking to the future, staff believes there are sufficient funds <br /> to acquire a second site so that the former Gilham Park is <br /> effectively divided into two locations. We have looked into <br />