APPENDI 



At a meeting of the Commissioners on the 25th day of January, 1868, 

 Mr. A. A. Low submitted the following report on the subject of a sale 

 of Washington Park, which, on his motion, seconded by Mr. Bergen, was 

 ordered t<> be published in connection witli the Annual Report, as an 

 Appendix, expressive of the views of such members of the Board as 

 should sign it. 



SPECIAL REPOBT. 



In the judgment of the undersigned, were the Park Commissioners 

 free to deal with Washington Park according to their own judgment, of 

 what the best, interest of the City demands, they would return the 

 money raised for tin- improvement of the Park to the City Treasury, 

 stoj> all expenditures thereon, and initiate measures for a sale of the 

 property by converting it into building lots. 



From the Maps on hie in the Office of the Street Commissioner, it 

 appears, that within the limits of this Park, as at present laid out, there 

 were 435 lots and parts "lots facing upon the streets and avenues that 

 intersected the Park, whieli streets and avenues were ordered to he 

 closed. 



It is computed that if the whole plot were judiciously laid out and 

 sold with suitable building covenants, and a satisfactory title given, this 

 property would realize more than a million of dollars. If judiciously 

 improved it is safe to assume, at the present cost of building, an expen- 

 diture when the whole tract is covered with the average number of 

 buildings, of at least three millions of dollars. 



The probable saving to the City may be reckoned thus : — 



Value of Washington Park if divided into lots and 



sold $1,000,000 



Cost of contemplated improvement if retained as a 



public Park 200,000 



Direct saving §1,200,000 



The interest on this sum would be per annum 84,000 



Tax on value of lots and improvements estimated 



together at 3,000,000 



At three and one-half per cent, per annum 105,000 



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