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how you wanted to review this with Jon or if perhaps you already had. The agreement was prepared for Jon or his <br />designee to sign the final acceptance. If you want to review it with Jon and in turn instruct me (or one of you) to <br />sign as his designee, that should be fine - or I can just route it through you for Jon's execution? You are also <br />welcome to forward this email and if anyone has any questions please don't hesitate to contact either Lloyd or me. <br />As you know we have been working on this site for many years and it is the last parcel on the southeast quadrant of <br />Roosevelt and Garfield that is not owned by the city. And as we previously discussed this owner originally was <br />asking $500,000 a few years ago and gradually reduced her price somewhat. More recently making a significant <br />price reduction resulting in the proposed $210,000 sale price. We feel this price is fair and reasonable for the <br />property and business location the seller is selling. This is a sale where the owner approached the city so we would <br />not have relocation benefit obligations - unlike if we needed to purchase the site and she was being relocated at <br />our request. That makes the terms of this sale somewhat more valuable as relocation costs could be several <br />thousands of dollars under another scenario. <br />Please let us know how you wish to proceed. Our tentative closing date is the week of September 12. They want to <br />close within 15 days of sellers acceptance if possible. Title reports and escrow are being ordered now. Craig <br />should complete his review next week. It maybe his findings could call for more research which could delay <br />closing. Again, don't hesitate to email or call with any questions or further concerns. If it looks acceptable we will <br />need a funding accounts for processing a check request. Thanks. Russ <br />4 <br />