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<br /> <br /> <br /> <br /> <br /> Clristopher J. Yuen <br /> June 10, 2004 <br /> Page 2 <br /> <br /> <br /> <br /> <br /> The required park improvements have been completed in accordance with Condition M(I)h. and <br /> the area is being maintained by the YMCA in accordance with the agreement with the County <br /> and the Office of the Mayor. <br /> <br /> At this time, Parker Ranch is seeking credit of $339,480 for the construction of the multi-purpose <br /> athletic field. This credit can then be used to offset future fair share contribution requirements <br /> for Parks and Recreation facilities. In this regard, please find attached the Final Cost Summary <br /> and Job Cost Report summarizing the costs involved in developing the park improvements. <br /> <br /> Please be informed that in accordance with the provisions of Condition H, we will also be <br /> seeking credit for the fair market value of the 10 acre park site. We are in the process of <br /> finalizing an appraisal to determine the value of the contribution. This will be submitted to you <br /> upon completion. <br /> <br /> Thank you for your attention to this matter. Please call me if you have any questions on this in <br /> the meantime. <br /> <br /> Sincerely, <br /> <br /> <br /> <br /> David A. Houle <br /> President & CEO <br /> <br /> Attachments <br /> <br /> C: Bill Moore, WLM Planning <br /> Buzz Paxton, Parker Ranch, Inc. <br />