PD107-CS 880929FOX{ JaCOBC
September 29, 1988
Kevin PeitSer
Ginn, Inc.
17103 Preston Road, Suite 100
Dallas, Texas 75248
RE: Shadowridge Estates, Phase III
Proratas
Dear Mr. PeitSer:
Pursuant to our conversation in the development review committee
meeting the other day,.enciosed is the inSormation on how Centex would
like to handle the pro~ata oS Coppell Road. As you are .awa~e, Centex
d/b/a Fox & Jacobs, Inc, had previously hired Gra-Son Land, Inc. to
develop several subdivisions tot Fox & Jacobs, Inc. on a management
tee basis with Fox & Jacobs paying ail bills as they occur. Upon
completion ot the lets, Gra-5on would deed over the lots to Fox &
Jacobs so Fox & Jacobs could build houses on the lots. ALong with
this transSer ot property, Gra-Son also gave to Fox & Jacobs their
rights to ail deposits, prorata reimbursements, etc.
Since Gra-Son Land Inc. and now Centex (Fox & Jacobs) is entitled to
prorata reimbursements ~or building paved roads and utilities ~or
Shadowridge Phase 1 and 2, as evidenced by your letter dated May 22,
1986, Centex would like the City to eliminate the proratas due on the
proposed Shadowridge, Phase 3 and the ~uture prorata on the church
zone~ property along Bethel School Road ~or the proratas due Centex.
The proratas due Centex are approximately both sides o~ 465 ~eet o~
Bethel School Road and 217 teet o~ one hals o~ Plantation Road. The
proratas due ~he City are one-halt o~ the 569 ~ee% o~ Coppell Road and
one-hal~ o~ 484 ~eet o~ Bethel School Road. Since these lengths aFe
approximately the same siZe, Centex Seels this is a tair and equable
trade and saves t. he City alot o~ extra admistration.
I appreciate your reviewing this inSormation and letting me know what
the 'City's response is to this exchange o~ proratas. Please give me a
call i~ yop have any turther questions.
Sincerely,
Steve Stoite
Land Development Project Manager
SS/pm .
Enclosure
cc: Taryon Bowan
NORTH DIVISION / 1422 W Main / Suile 206 ' Lewisv,iie, Texas 75067 / 214-221-5556