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VON KLEIN & ASSOCIATES, LLC Broker <br /> LARRY VON KLEIN <br /> Investment Real Estate Orcgon/Ca. lifomia <br /> <br /> MEMO <br /> <br /> To: RICnlE WEINMAN <br /> CITY OF EUGENE <br /> <br /> FROM: LARRY VON KLEIN <br /> <br /> DATE: NOVEMBER 16, 2004 <br /> <br /> RE: THE PATTERSON HOUSE <br /> <br /> I would like to outline some misconceptions that came out of the Monday, <br /> November 22, City Council Meeting pertaining to the Patterson House Tax <br /> Exemption request: <br /> <br /> 1) The Hilyard House, 725 East 14th Street, built in 1996 did not deviate <br /> from it's original conceptual plans. <br /> <br /> - Exterior decks were not planned, as the Eastside of the building was too <br /> ~ close to the adjoining property and the Westside fronting Hilyard Street <br /> would have created a set back problem. <br /> <br /> - The front handicapped ramp was redesigned to conform to the city's <br /> wishes. <br /> <br /> - There was an issue with amount of stairwells, although stairwells were <br /> located at each comer of the building, the Fire Marshal proposed two <br /> additional stairwell exits in the center of the building. This would have <br /> removed about 4-6 units. After meeting with Abe Farkas and the Fire <br /> Marshal, this request was dismissed. <br /> <br /> 2) The submitted Financial Analysis was analyzed by you and accepted as <br /> realistic. The loan is expected to be $1,800,000 with at least a $1,900,000 cost to <br /> construct. Since I manage about 1,000 units including The Hilyard House, I have a <br /> professional understanding of income and expenses with regard to campus <br /> housing. <br /> <br />P.O. Box 11468 (54I) 485-6901 859 Willamette Street, Suite 320 <br />Eugene, Oregon 97440 FAX (541) 686-6710 Eugene, Oregon 97401 <br /> <br /> <br />