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I I I Mr. Richard Bean, page 2. Therefore, as attorneys for the Housing Authority, we respect- fully reauest that the City of San Marcos convey to the "Housing Authority of the City of San Marcos" all of said 0.75 acre tract except a strip 50 feet wide across the northeast end of said tract, by deed of gift. It is suggested that the 50 foot strip be retained in order to provide access to Loop 82 for Mrs. Frisbie's 4.11 acres. Please note that the City appears to have no use for the property except as a street and that the only pro- perty such a street would service would be the Frisbie property which can adequately be taken care of by a street on the north- east side of the 0.75 acre tract. The Authority has agreed to pay Peters $86,000.00 for his land. This price was about 11% higher than the appraised value and it was with considerable difficulty that the Fort Worth office was persuaded to go along with the $86,000.00 figure. An addi- tional problem is raised because somehow the agreement to pur- chase covers only the 18.13 and the 2.00 acre tracts, whereas the appraisal and the approval of the purchase price by the Fort Worth office were based on all three tracts, covering 20.88 acres. Since the appraisal was based on all three tracts, Peters must convey all three tracts to the Authority. Peters is unwilling to accept less than $86,000.00, and the Fort Worth office is unwilling to accept less than all three tracts for the price of $86,000.00. Therefore, it is suggested that the conve- yance be to Peters, contingent upon his deeding the property to the Authority with no addition to the price already agreed on. This way the Authority will be paying Peters $86,000.00 for all three tracts. 7€f!:t ~ H. C. Kyle HCK:bp