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I· HUGHES SPAL.DING ROBT. a . TROUTM A N WILLIAM K . ,,_f CAOC '.'/ CHARLES L , CO WE N HUCH E S HARRY · C . HOWARD JAME S M . S1BLEY JOHN IZARD KIRP<. M . M'-ALPIN RICHA R D A. DENNY, JR . WILLIAM H , IZLAR , J~ . R- BYRON ATTRIDCE BRADLEY ROBEAT W . HURST Hf:NRY HALL WARE Ill ROBERT L , ST E ED HUGH PE:iERSON. JR. JOHN A . WAL. ~ ACE CHARLES M. KI00 ANTH'A MULKEY SPALDING, JR . CHARLES H. K I RBO POPE · e . Mi;"INTIAE KENNETH L . HEWITT DANIEL J . O ' CONNOR, JR . JOHN C . STATQ~L JR. ,-URMAN $MITH, JR . JOHN 0 - HOPKINS G . LEMUEL HE W ES 0 • & SPALDING TRUST CO.'lP~'Y OF GEORGIA BUILDIXG ATLANTA, GEORGIA 30303 HALE COWARD J . H t__ WIE DAVID L - COKER A. ,r'ELTON JENKINS .JA . KING 404 525- 0481 March 24, 1969 J,e..C~ H . Vo(ATSON . JR. Ft . WILLIAM tciE Ill HOR>,.CE H. SIBLEY CHARLl:.S M. SHAF'F'ER, JR . GE.CAGE GRAH A M TRASK W. OONALO KNIG)-IT, JR . J>,.MES A . B~ANCH Ill JOSEPH R. OLACOEN,JR. BY HAND Mr. Howard Openshaw The Housing Authority of the City of Atlanta, Georgia 824 Hurt Building Atlanta, Georgia 30303 Re: Parcels B-lOb and B-14 Rawson-Washington Street UR Area Project Georgia R-10 MODEL NEIGHBORHOOD, INC. Dear Howard: This ack nowledges receipt , of your letter of the 20th, requesting our opinion as to whether or not it would be possible· to comply with the request of Model Neighborhood, Inc. as set forth in your.letter. You are correct that the State law requires that urban redevelopment land be sold for not less than the fair value for uses in .accordance with the urban redevelopment plan. Of course, the fair value is a qu e stion of fact and not of law. The price was established by the commissioners based on two professional appraisals for the uses of the property in accord a nce with the plan. rt would appear that the only way the price could be reduced would be to determine that the appraisals were in error and have the property re appraised . There is the further possibilit y that you can place certain r~strictio~s on the proper t y , or cha ng e the use to a less valu able use and ther eby lower the price. There f or e , unl e ss you change th e us e s on the prope r ty or obt a i n othe r apprais a ls,· I s e e no wa y that the �Mr. Howard Openshaw March 24, 1969 rage two Housing Authority can comply with the redeveloper's request for a reduction in the price from $216,000 to $134,000. I am returning all documents herewith. Sincerely, BA: jmb Enclosures /I �