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I COMMISSIONER SIEBERT STATED THAT HE WAS INFORMED THAT IF THE PROJECT SHOULDNIT WORK OUT, THE DEPARTMENT OF COMMUNITY AFFAIRS TAKES TITLE TO THE PROPERTY AND THE OBLIGATION IS OVER, SIR. REGAN DISCUSSED PROVISIONS UNDER THE STATUTE IN REGARD TO THE DEPARTMENT OF COMMUNITY AFFAIRS TAKING BACK THE DEED. ATTORNEY COLLINS STATED THAT IF THERE WAS A PROJECT THAT WAS BOUGHT AT A REASONABLE PRICE AND IT WOULD HAVE UTILITIES, HE COULD NOT, IN HIS WILDEST IMAGINATION, BELIEVE YOU WOULDNIT GET YOUR MONEY OUT OF IT, AND HE WOULD NOT BE THAT CONCERNED.WITH THE POTENTIAL LIABILITY. CHAIRMAN YIODTKE NOTED THAT THIS BASICALLY SETS OUT THAT $200,000 IS FOR 50 HOMESITES, AND ASKED IF WE BORROW.$400,000, MUST WE COME UP WITH 100 HOMESITES? ISR. REGAN STATED THAT NUMBER IS JUST ILLUSTRATIVE. EACH PROJECT, AS THE LAW IS WRITTEN, WOULD BE A CONTIGUOUS PROJECT OF $200,000, EACH OF THEM SEPARATE, AND YOU WOULD SET UP YOUR OWN PROJECT. CHAIRMAN WODTKE ASKED, IN THE HYPOTHETICAL INSTANCE THAT A DEVELOPER HAD 40 ACRES OF LAND WHICH HE ALREADY OWNS, AND WOULD LIKE TO DEVELOP THE LAND, BUT HE DOESN'T HAVE WATER, SEWER, ROADS, ETC., WHETHER THE COUNTY COULD MAKE ARRANGEMENTS WITH HIM TO BUY THAT 40 ACRES, DO THE IMPROVEMENTS, AND SELL IT BACK TO HIM. MR. REGAN FELT WHEN THE COUNTY SELLS PROPERTY, IT HAS TO BE PUT OUT FOR BID. THE FINANCE DIRECTOR ASKED IF THE PROPERTY WOULD BE DIVIDED DOWN TO THE LOT STAGE OR WOULD BE SOLD BY BLOCKS, AND IT WAS FELT IT COULD BE DONE EITHER WAY, COMMISSIONER LYONS DID NOT FEEL THE COUNTY COULD SELL THE LAND FOR A PROFIT, BUT SHOULD ONLY GET OUT WHAT WAS PUT IN IT. COMMIS- SIONER SIEBERT AGREED. COMMISSIONER LYONS ALSO FELT THAT WHEN THE LAND IS SOLD, THE COUNTY MUST SPECIFY WHAT IS GOING TO BE DONE WITH IT. ATTORNEY COLLINS NOTED THE LAND MUST BE PUT OUT FOR BID, BUT ALL THIS CAN BE SPECIFIED. COMMISSIONER LOY NOTED THAT THESE THINGS ARE VERY COMPLEX AND THERE ARE MANY POSSIBILITIES. SHE BELIEVED THERE IS A STRONG POSSIBILITY APR 4 1979 BOOK 39 ?AGE 414