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<br /> Mr. A. C. Gonzales <br /> Page 2 <br /> February 14, 1985 <br /> based upon the "bingo" drawing and posted letters of credit. Then <br /> adopt a "first come, first serve" approach by allocating LUE's to <br /> those applicants for whom the only remaining step in the permitting <br /> process is the securing of sewerage capacity. As LUE's are allo- <br /> cated, the last "bingo" person in line will lose his allocation as <br /> building permits are granted. <br /> It is my sincere belief that the absorption of 5,000 LUE's <br /> between now and August of 1986, or even within the 12-24 months <br /> subsequent thereto, is highly improbable, given historical absorp- <br /> tion rates and prevailing market conditions. Therefore, once all <br /> interested parties are placed in an equitable position, LUE's will <br /> cease to be a significant factor in a development decision or a <br /> deliberative factor in the City's permitting process. <br /> Your efforts, cooperation and assistance are, as always, <br /> appreciated. <br /> Very truly yours, <br /> ì~ 6f.- <br /> (). }V <br /> Timothy J. Herman <br /> TJH/bb <br /> cc: Bryan Wooten <br /> Danny Roth <br />