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i <br />been informed by experienced Realtors that a licensed bar and restaurant so close win <br />severely affect the marketing ofmy property when I come to sell it Estimates of a price <br />reduction over its current value of iq> to $50,000 would have to be considered, <br />paiticulariy in a competitive market The same foctors apply to the odier 3 units in the <br />Kelly Cove Homeowners Association. I would raise the question of why should the <br />owner of the subject property firumcially benefit at a major and material cost to myself <br />and my neighbors? It is my understanding that the new residential property on 2505 <br />Kelly Avenue has received an assessed value of some $3,500,000. Is it wise policy to <br />grant an On Sale License to the above property for a folly licensed bar and restaurant <br />which is only 80 yards from a $3,500,000 home? What will be the reduction in value to <br />fois property? <br />There Is no way in which one can say that the granting of this On Sale License <br />would not be detrimental to the public hcahli« safely, aad welfare and would not be <br />materially iniurious to properties and improveamnls in the vidalty. Ibelievethat <br />the CouacQ therefore has no altemative but to deny this application. <br />Youn truly. <br />H.EV1 <br />I iiiimifrllMTS