Box 13, Folder 11, Document 82

Box 13, Folder 11, Document 82

OFFICE OF COMPTROLLER
CITY HALL

Atlanta, Georgia 30303

August 11, 1967



CHARLES L. DAVIS
COMPTROLLER

EDGAR A. VAUGHN, JR.
DEPUTY COMPTROLLER

Honorable Rodney M. Cook
34 Tenth Street, N. E.
Atlanta, Georgia 30309

Dear Rodney:

I am enclosing a copy of a letter I wrote Mr. Jack Delius relating to the ugly

triangle at the corner of Cain and Spring streets. In my letter to Mr. Delius

I omitted citing the Portman donation of $10,000. We now have firm coumitments
from the following parties;

Portman $10,000
Livingston 47,500
Trailways 10,000
Mr. Jesse Draper 5,000
Dr. Marvin Goldstein 20,000

$92,500

===

You will note in my letter to Mr. Delius that I suggested we go ahead and process
an application to the federal government for matching funds to acquire the pro-
perties involved in the proposed park site. I am also enclosing copies of budgets
showing what funds would be needed just for acquisition purposes and the suggested
contributions by the various parties which would generate sufficient funds for
development purposes if fifty percent federal aid was made available for that pur-

pose.

At the moment it appears that we would need approximately $40,000 more in con-
tributions to make up the local share to acquire the land, These figures are
based on early 1965 appraisals only provided for ten pereent contin-
gencies. 1 am of the opinion that the land would have to be reappraised inasmuch
as there has been approximately eighteen months since the appraisals were wade,
This in turn could increase the project cost which would in turn increase the local
share cost.

1 feel sure that with $92,500 at the moment the City is in @ position te move for-
ward with the acquisition. It is hoped that the contributions from Davison's and
Greyhound will be sufficient enough to cover the remainder of the local share cost

for acquisition purposes.

i
8
j
Honorable Rodney M. Cook
Page 2
August 11, 1967

I have had a couple of people discuss with me the possibility of soliciting the
development funds from the Baptist who now operate the Peachtree on Peachtree
Hotel, the Atlanta Athletic Club, Georgia Power, and several other concerns in
the area. I have also been informed that there is a possibility that Mr. Portman
would design the park on a no-fee basis which would also contribute to the local
share cost of the project.

If I can help in any way in soliciting funds from either Davison'’s or Greyhound
so that we might conclude the land acquisition phase of this project, please
advise as to what part you would like me to play in dealing with these two concerns.

Yours very truly,

Wale tla.
Charles L. Davis
Comptroller
CLD :dhf
Enclosure

ec: Mr. R. Baril Landers
Mr. Jack Delius