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L_ SEP 1 to. 5 acres of land, and because of the trend that had been set a number of years ago and the high quality of the area, is the reason we located Kingswood Estates in this area. I do not know why the property owners in this area were not alert to the fact that a substantially higher density could be developed in those parcels on the north side which actually fall among some of the most attractive homes in the entire area. As a result of the property owners expressing their concerns, Planning & Zoning unanimously (4-0) rejected the proposal as not being in keeping with the other properties along that street. Mr. Brown stopped by to see me a few days before the Planning & Zoning meeting and I must say that he has a good development concept and the type of project that would be successful, but I frankly believe that he is trying to put it in the wrong location. We at Kingswood now have about $1,800,000 invested between the cash that we had put up, plus the mortgage that we have signed, and we have potential buyers that contemplate building their own homes in there, and have held up waiting what final action would be taken. The property owner east of our land is Dr. Ames, and he also owns land to the east of the tract in question. He has indicated that it is his plan to develop his property into 1 acre estates and at the Planning & Zoning meeting he would be re- questing a change in zoning to the 1 unit per acre concept. Any consideration you can give us in this very important matter will be appreci- ated by us and the property owners in the area in preserving the residential values and the image of "a somthing special" street. Sincere.- r's, - fdaar-l. Schlitt - Mr. Schlitt expressed his admiration for Ralmar Associates and noted that if this was a PRD hearing where we knew exactly what would be going on that property, he probably would be supporting it rather than encouraging the Board to take the views of the other residents in the area. Although he does not reside in the area, he does have investors who have invested a substantial amount of money in this area. When they developed Kingswood Estates, their original thought was to have more lots at a lower price, but after talking to Dr. Ames and other residents in the area, they decided to go with 50 lots on 40 acres at a higher price. Mr. Schlitt hoped that the Board would take all of this into consideration. ON MOTION by Commissioner Wodtke, SECONDED by Commissioner Bird, the Board unanimously closed the Public Hearing. 26 BOOK 6 pnr.- 563