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<br />Councilmember Dehen commented the Chateau units appear to be much nicer dressed than the <br />Hometown units. He inquired about the concept being pushed with the Chateau as opposed to <br />the Hometown units. <br /> <br />Mr. Siders replied originally the Hometown units were even higher priced than the Chateau <br />units; an adjustment has been made so they are very similar in pricing. The Chateau units are <br />more popular due to the more interesting building architecture and a better floor plan. <br /> <br />Councilmember Elvig asked if the floor plan is the primary issue making the sale with the <br />Chateau units. <br /> <br />Mr. Siders replied the units are selling because of the architecture as well. <br /> <br />Councilmember Elvig stressed that the impact of the architecture on the sales should be well <br />noted, as the Council has talked with developers who have said the architecture does not matter <br />much. <br /> <br />Mr. Siders indicated there are three primary factors that affect the sales: architecture, price, and <br />floor plan. Everyplace K. Hovanian Homes builds the architecture has far greater. importance put <br />on it by their buyers. He thanked the Council for their support and stated K. Hovanian Homes <br />will try to accelerate this as quickly as possible <br /> <br />Community Development Director Trudgeon indicated the requested change will come back <br />though the system within the next couple of months. <br /> <br />3) Rick Foster Property along Highway #47 <br /> <br />Community Development Director Trudgeon reviewed that staff was directed at the December <br />28,2006 City Council meeting to get an appraisal of the Rick Foster along Highway #47 and to <br />report its findings. Staff was also directed to investigate purchasing this parcel for future <br />redevelopment. The appraisal is complete and the value for the property is $400,000. The total <br />parcel area 68,041 square feet and 38,041 (55%) of that total is considered lowland for appraisal <br />purposes. This leaves a net usable area of 30,000 square feet (.69 acres) and when calculated it <br />comes to $13.33 per square foot of usable land. It was previously thought that Lord of Life <br />Church might be interested in this parcel as part of a swap of the re-alignment of Highway 47. <br />Recent discussions with the Lord of Life Church have determined that the church no longer has <br />interest in this parcel. <br /> <br />Mayor Gamec inquired about the funding source for the purchase. <br /> <br />Community Development Director Trudgeon replied the funding source would depend on the <br />purpose of the purchase. He noted the land could be valuable for future economic development <br />if the highway is relocated. <br /> <br />Councilmember Jeffrey inquired about the zoning. <br /> <br />City Council Work Session I March 20, 2007 <br />Page 12 or 13 <br />