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APR 3 1985 - Boor 60 P;,,-405 5. The property immediately west of that piece sought to be retained for multiple family is commercial and there is no buffer and properties for condominium use adjacent to commercial use are difficult to sell or rent unless there is a buffer such as a street or other buffer dividing the two areas. -- 6. Institutional lenders would be extremely hesitant to make any loans on property of this nature due to the diffi- culty- in anticipating sales and their belief the property value could not be mortgaged as multiple family because the nature of the area is such that commercial designation is the best use. 7. There is commercial land directly across the street and to the southeast which makes the property undesirable for multiple family use. In my opinion as a builder, this property is not suitable for anything other than commercial use and I would not be interested in developing the property as a condominium -site. Sincerely, Charles Weiche Attorney Sullivan expressed the belief that this is a transitional area and felt that most of the present small residences on the tiny dirt road adjacent to this property are for sale now. He stressed that he and Mr. LaFever have expressed their willingness to do anything reasonable to protect the neighboring residences; they intentionally left a buffer of palmettos, and they would agree to build a concrete wall; they would give the deceleration lane that will be needed to get traffic from 6th Avenue onto Glendale (8th St.); and they have agreed that any site plan would orient the structures on the site towards Glendale and there would be no access on 6th Avenue. In regard to the $85,000 paid by the County for the road right-of-way for 8th Street, Mr. Sullivan noted that they told the County they would sell the right-of-way at a much reduced price if the property were changed to commercial at that time, but the County would not agree to that, and that is why the price was paid. Although this road'is an advantage to the piece of property in some respects, Mr. Sullivan pointed out that the property could have been used for a number of things without the road being there, and now the road has created the problem that they have a irregular piece that they can't do anything with, and it is actually a disadvantage. Mr. Sullivan felt it would be far better to have a nice striptype store there and reported that 40