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CRAWFORD, HUDDLESTON & CO., LLP 4424 GAINES RANCH LOOP #335 AUSTIN, TEXAS 78735 (512) 891-9410

August 14, 2013 Sara Hensley, CRPD, Director Austin Parks & Recreation 200 S. Lamar Austin, TX 78704 Re: Hancock Development Proposal Dear Sara: The proposal of Crawford, Huddleston & Co ("CHCo") to the parks board is that it recommend to the city council that the city hire CHCo to mediate the development of what is now the Hancock Golf Course into a revitalized mixed use enclave of fifty five (plus or minus) residential sites and a 3 acres (plus or minus) commercial reserve that encompasses the existing historic structure. While our design is one of many, it meets (what should be) the basic criteria of public stewardship which are the following: 1. 2. 3. 4. 5. The Hancock golf course operation is functionally obsolete and should be discontinued A re-development of the (approx.) 45 acres should protect existing historic structures Re-development should enhance public park-space removing existing limited access Re-development should enhance (not harm) neighboring residential property values Re-developed enclave should replace existing eyesore with a sustainable showplace

Our proposed methodology is intended to sidestep areas of political gridlock which render redevelopment ineffective with respect to financial and operational gains to the city. Mediation allows integration of related concerns without ceding control of public assets (and associated financial capacities). This alternative strategy while possibly unsuitable for larger projects is ideal for a medium-sized initiative (like Hancock) and can serve as a model going forward. In a mediated format, CHCo will move this process through the following 10 phases, a brief description of each follows. The mediated element of this process allows for a wide array of timely and relevant input along the way without unnecessary disruption and delay. City employees and construction capacity will be utilized where such is expedient. Private contractors used herein shall be chosen from HUB providers where possible. As a gross estimate; we project the sale price for the residential lots to average $300,000 and the value of the commercial reserve to be $1 million per acre or $3 million. These estimates create gross revenue to the city of $19.5 million. Development costs are expected to be $6-8 million. We do not, at this point, project the magnitude of tax revenues associated with private ownership. Projected timeframe is expected to be 24-36 months from start to finish. We are not being asked here how the city should distribute this net revenue, but if we were, I'd suggest it should stay in the parks department--maybe golf but I don't think it should flow back to the general fund. I think that hampers the outcome by robbing the project of end-game motive.
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PHASES OF DEVELOPMENT (SUMMARY) A. Secure the Creek (structurally) A functional and attractive drain-bed will be created for Waller Creek where it intersects the property. The work in this phase will be concrete only and non-aesthetic. Further development of limestone accents, bridges, ponds, etc. may be a part of Phase J, which comes later and depends, to some extent on available budget. B. Cut in the cul-de-sacs (38 ½, 39th and 40th Streets) At a minimal cost, the curbs will be cut and the three street extensions will be created which allows the subsequent development for sale of 24 Residential Lots (Phase C). The drawings show these 3 cul-de-sacs to be of similar distance from Peck Ave. which may be altered subject to survey. C. Develop first 24 Residential Lots (auction to builders) Once the streets, curbs and gutters are complete, and the utilities stubbed in, the first 24 Residential Lots will be auctioned under some format that seems fair to the committee at the time (possibly limit purchase by any one builder and/or require construction to commence within a short time period). Prior to this, the committee will have resolve deed restrictions which will likely include driveways, garage locations, square footage and other architectural requirements. It is expected that the financial result of this sale will be $6,900,000 gross; including 18 small lots and 6 larger lots. This revenue will repay borrowing for phases A and B and finance subsequent development costs. D. Cut in 39th and 40th Streets Obviously there are as many different street layouts for a project like this as there are architects and engineers in the world. Our goal for this design is to continue existing street patterns with minimal directional disruption. One noted option is that we do not build a bridge across Waller Creek. Other designs with a north-south throughway connecting 38th and/or 41st Streets were abandoned due to costs, privacy and the lack of necessity (there are only 31 homes in this section and 2 exits seems adequate). E. Develop Commercial Reserve (estimated 3 acres) The (approx.) 3 acre Commercial Reserve is to be constructed around the existing historical building(s) that currently serve as the golf pro shop and day care, and community club facilities. A thoughtful architectural consideration of how to best situate these facilities, together with parking and other requirements will be made at the time. If possible, these designs will come either from city staff architects or HUB providers. In any event, we will begin entertaining design ideas from the moment of original groundbreaking on Phase A, such that when we get to this Phase there will be no loss of time. F. Develop next 12 Residential Lots (auction to builders) Once the streets, curbs and gutters are complete, and the utilities stubbed in, the next 12 Residential Lots will be auctioned under a format similar to Phase C, above (with modifications if any). It is expected that the financial result of this sale will be $3,600,000 gross; including 6 small lots and 6 larger lots. G. Cut in South extension of 38 ½ Street As with other streets, our goal is to continue existing street patterns with minimal directional disruption. Though this grouping of homes only has a single entrance (albeit a divided boulevard) the access seems adequate given there are only 21 homes in this section.
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In the event existing regulation requires modifications, such will be addressed in time for seamless code adherence in permitting and construction. H. Develop last 19 Residential Lots (auction to builders) Once the streets, curbs and gutters are complete, and the utilities stubbed in, the last 21 Residential Lots will be auctioned under a format similar to Phase C, above (with modifications if any). We expect this last section, due to its surroundings and privacy will sell at a premium--we use 15% for these projections. It is expected that the financial result of this sale will be $6,296,250 gross; including 14 small lots and 5 larger lots. I. Build and landscape the new Park It is at this point that the park surrounding the new Residential development will be built out and landscaped. The features of that park depend in part on the available budget at the time and/or design or need assessments to be conducted at a later date. Some yet-to-bedetermined parking spaces may be added to facilitate public use of this park. J. Build and landscape the Triangle (design contest) The design and development of this final piece of the project is expected to receive substantial media attention and in that light, we expect this odd triangle to be designed into a fountain or statue, maybe a playscape or dog-park or otherwise suitable gateway for the project. As with Phase I, above, the budget for this element is yet to be determined. A regional competition among architects and designers is expected to be well received and result in a tastefully notable neighborhood icon. If development of public properties was transacted strictly on the merits of the aforementioned criteria; mitigation of functional obsolescence, a thoughtful preservation of historicity, development and maintenance of parklands, protection of property values and sustainable public aesthetics, then off-message detractors would have no voice in municipal government. While there will always be special-interest favoritism and delay in representative governance, the methodology of this project represents the efficiencies that are possible from case-by-case visionary leadership. We optimistically look for your support and direction in this matter. Thanks,

Jim D. Huddleston, Partner Crawford, Huddleston & Co., LLC www.crawfordhuddleston.com Enclosed: PDF of Phases A through J

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