Laserfiche WebLink
-2- <br />The amendment was made on the basis that we will presumably be receiving <br />2/3 financial backing from the Federal Government in 1959, which in turn would <br />result in a savings to the City of over $1, 000 - on our share of the rent. Other- <br />wise, the full payment would have to be taken from the City funds. <br />3. <br />Mr. <br />gett <br />had <br />bre; <br />PROVAL OF SURVEY & PLANNING APPLICATION OF SAMPLE STREET <br />fELOPMENT AREA PROJECT <br />rher explained that this is the first concrete step we are taking toward <br />Federal money for the project. The necessary application information <br />n acquired and assembled and explained to the Commissioners. A <br />>wn on the financial summary on the project was as follows: <br />Real Estate Acquisition <br />Site Clearance & Improvements <br />Planning and Administration <br />*Resale Value of Cleared Land <br />Net Project Cost <br />Federal Share = Grant Reservation Request <br />City Share <br />$2,000,000 <br />7 22, 350 <br />290,000 <br />$3,012,350 <br />350,000 <br />$2,662,350 <br />$1,774,900 <br />887,450 <br />$2,692,350 <br />*$7,500 per acre is the expected amount to be received for <br />the cleared land as per Mr. Henrekin, Committee of 100. <br />Assuming that approximately 46 acres will be made available, <br />the proceeds from resale of this land should amount to <br />approximately $350, 000. <br />After further detailed discussion of the proposed application it was decided that <br />Mr. Baer and Mr. Sucher, along with Mr. Place, would attend the City Council <br />Meeting Monday evening, July 14, to present the preliminary application to <br />the Common Council for their approval. <br />