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<br />I . <br /> <br />! <br /> <br />t <br /> <br />~, ) <br /> <br />~he Commission requested Staff to discuss the acquisition of the parking <br />lot with the owner of the underlying fee of the Sombrero Street Restaurant <br />~roperty. One of the owners, a Mr. John Coleman, was contacted and ex- <br />pressed an interest in its acquisition but did not feel he had the finan- <br />cial capacity to do so at this time. He further stated that if he were <br />to acquire the property, he would necessarily expect a return upon his <br />investment, which judging from his statements would be substantially <br />in excess of what Sombrero Street Restaurant could afford. <br /> <br /> <br />The price to be paid for the parking lot property by Mr. De Rocher pur- <br />suant to his option would be the same as the price paid by the Agency, <br />~r an amount equal to its reuse value for the purposes intended at the <br />~ime of exercise of option. The option could be structured so as to <br />reflect these types of conditions. ~he details as to the lease and the <br />manner in which the option would be exercised would be brought before <br />the Commission for decision if the commission, and subsequently the <br />Agency, act favorably upon this proposal. <br /> <br /> <br />?£Z/ ~ <br /> <br />Richard E. Go~lirsch <br /> <br />REG/TH/jl <br /> <br />. <br /> <br />2. <br /> <br />~~ <br /> <br />4B <br /> <br />20 <br />