Dear Igor,

I feel that the comments to date really require some response. Although I am personally uncommitted with respect to development, should we wish to retain Daly and Hayward as green space there are economic consequences which should be understood by those advocating this position.

With respect to revenues from the sale, we should note the following:

The direct sale of Daly would have produced some $5 million. Contrary to popular belief, all such revenues become Radburn assets. Invested at 5%, this would yield some $250,000 per year, approximately 25% of the budget.

The addition of over $40 million in ratables would yield an additional $300,000 or so in annual revenues (these numbers are of course approximate). In present terms both of these amount to more than half the Radburn budget. In forgoing development, we will be paying this each year.

As far as I can see, there would be no need for additional outlay on the part of Radburn – the sale means that all maintenance on the new development is internal and that Radburn would save current maintenance on Daly. The town may well incur additional expense but Radburn almost certainly would not.

Although I take issue with the way the whole thing was handled, the need for discretion when real estate is up for grabs is certainly understandable. The negotiations for the Hayward property dictated the need for secrecy. Other alternatives might have been better such as Radburn buying the property. However, seeing the amount of unjust vilification of the board has occurred, I can understand the reluctance to take even more controversial steps.

The board has for years participated in the Citizens Association meetings as anyone who has attended regularly can attest. Certainly this has been the case up to two years ago. Once personal abuse became the norm, there was no wonder that they would not wish to subject themselves to such treatment – it is a volunteer unpaid position with the only recompense the good they feel they are doing for the community.

Also be aware that CCRF is proposing something like a homeowners association citing public law pertaining to such. If that is the route, all the renters currently voting might well be in danger of being disenfranchised – Soviet system indeed!! Although the assurance is that this will be properly handled as per recent statements at the CA meeting, it remains unclear at this juncture.

Finally, I would notice that all the politicians and proponents of green space seem to leave Hayward out of the equation. If development is permitted on Hayward, then we perpetuate the lack of planning we had previously. If any development is to proceed, then the whole site should be considered with open space equal or greater to that now available at Daly, spread optimally across the whole site.

Some 20 years ago when development was first proposed for Hayward, the density they wanted used any allotment for Daly, effectively stealing Radburn development rights. At this juncture, through the actions of the board, at least Radburn's rights have been established and there will have to be appropriate compensation. The board has thus seen to it that all residents are protected in that regard and have met their fiduciary responsibility to the community. We therefore should all be grateful to them for protecting our patrimony.

With kind regards,

Mark Wall
!4 Allen Place