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2) Request for Alpaca EstatesRegarding.'Prellminary/Final'Plat Approval <br /> <br />City Attorney Goodrich said $196,500 is needed for escrow to assure streets <br />are blacktopped and lights ame in. He said the developer currently has a <br />mortgage against the property of $200,000, so the city needs $400,000 to cover <br />mortgage and escrow. City Assessor Wirz estimated the market value at <br />$241,400. He recommended the city be given a mortgage against everything <br />else but the part the developer is plotting. He said the city will release <br />the mortgage when the developer blacktops the streets. <br /> <br />City Assessor Wirz said there are approximately 61 lots in the remaining <br />acreage that would not be affected by the building. <br /> <br />City Attorney Goodrich asked the developer if he cared if the city had a <br />mortgage on this. <br /> <br />The developer said he felt as long as the city would have the second mortgage <br />as security, then the building permits should be granted. <br /> <br />City Attorney Goodrich said it is the city's policy not to grant building <br />permits until the improvements are done. <br /> <br />Mayor Gamec asked if the escrow could be reduced. <br /> <br />The developer said he is giving up the best part of his property, but he <br />wants to open some of it. He said the delays between the city and the Metro <br />Council have just about broke him and this is his living. <br /> <br />Mayor Gamec said the council agrees with the whole idea of that plot. <br /> <br />Councilman Sorteberg said this is the first time the city has taken a <br />second mortgage on land. <br /> <br />The developer said he wanted to open the land up so he could sell lots <br />and he is tied up right now unless it is okayed. <br /> <br />City Attorney Goodrich asked if building permits were allowed if the <br />developer brought the roads up to Class V. <br /> <br />Councilman Cox said the ordinance says as long as Class V is in, the permits <br />are allowed. <br /> <br />The developer asked if the city books were open to the public to come in <br />and read the ordinances, etc. <br /> <br />Mayor Gamec said they were. <br /> <br />City Attorney Goodrich asked the developer if he would allow the city to <br />take the remaining 142 acres. <br /> <br />The developer asked if he would be able to sell the house there without <br />putting a road in. <br /> <br />City Attorney Goodrich recommended going with the 142 acres and if anything <br />specific comes up regarding the house, they could come back in and discuss it. <br /> <br />C/June~4, 1980 <br /> Page 9 <br /> <br /> <br />