upr000342 7

Los Angeles, April 25, 1950 Hr, !?, H* Kulslser: (CC— Mr. ifra, Reinhardt Mr. A. ,C. Hitter C Mr, E. C, Penwicfe) Referring to your A 122 of April l^thx The disposition of the Railroad lauds west of the Glassification Yard at Lao Vegas with respect to the las Vegas Valiev Mater District has been discuss#! with Messrs. Reinhardt, Bitter and Penulck and it is agreed that: (a) the land lying east of the center line of Bectlons 28 and 33 should be retained for industrial use; (b) the land west thereof and extending to the center line of Sections 29 and 32 should be retained for subsequent sale as residential property; (o) the land west of the center line of Beet lone 29 and 32, together with rights of way for the existing pipe lines and power transmission line, should be considered in the pending rate hearing and in subsequent negotiations respecting the sale of lands and water facilities to the the extent of the Railroad land presently zoned for industrial purposes: the remainder of the property is zoned for residential use* It is probable that whenever there is demand for additional industrial land the approximate 12Q acres presently zoned for residential use lying east of the center line of Beetlons 28 and 33 will be re-zoned for industrial use, except that portion thereof cm Bonanza Pood 77® feet in length measured from said center line of section 28 and having a depth of 270 feet, which will remain in residential zoning because of the substantial character of the residential development north and west thereof * Railroad property are indicated by the assessed valuations of the land, for the year 19^9, shown on attached map. We estimate the present value of the water bearing lands comprising 6791 acres at ^67,900. and of the pipe line and power line rights of way 18,000, a total of *7 5 .900. The relative values of the several portions of this Charles Adams