Appropriating Sum $60,500.00 Cumulative Sewer and Sinking Fund

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page 2. March 21, 1977 Ironwood to the retention basin on Hepler because the site on Ironwood is gone. In another case, a site was selected along Miami. Before it could be acquired, several $70,000 homes were built on the site. At first blush, this appears desirable - higher assessed valuation, new homes in the community and so on. However, it will only be desirable until the storm comes along which inundates the $70,000 home and then the City will buy this site. In a way we are living with a time bomb in at least three areas - the three areas of which we are currently aware. Over the course of several years, we have discouraged development in the Miami Hills area, north of and adjacent to the Erskine golf course. The type of development which has been proposed has been multi - family apartments. The only reason we have been able to discourage this building is the need by the developer of federal financing. If a developer or builder decided to build single family or could arrange private financing, we would probably be unable to stop development in this area. In turn, if the area is developed and we ultimately acquire the site because of flooding, acquisition costs will prob- ably be higher and further, relocation costs will most likely be incurred. In addition, this is an area that was recommended as a retention basin site by Clyde E. Williams & Associates during their study of the Clyde Creek area. Because of the above, preliminary investigations were made regarding the possible purchase of this property. The owner agreed to sell at the lower of three appraisals. He was subsequently offered the price of $60,000 subject to the appropriation process and has since accepted this price, however reluc- tantly, for the 12 acres involved. We believe this acquisition is in the best interests of the City and request your approval of the appropriation ordinance to accomplish this acquisition. For your information and based on the costs to develop the Randolph Street re- tention basin, we estimate that approximately an additional $100,000 will be ultimately required to develop this retention basin. Very t yours, atrick M. McMahon, P.E. Director PMMc /mkm