Lee D. and Marjorie L. Hustead - Page 4

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               From 1987 to 1993, petitioners engaged in various activities           
          to obtain a zoning change.  Petitioners' efforts were first                 
          reflected in litigation challenging the constitutionality of the            
          Skippack Township zoning provisions.  These efforts were                    
          initially unsuccessful, but petitioners filed an appeal.  In                
          1991, by reason of a settlement offer and stipulation,                      
          petitioners' efforts were thereafter directed to achieving an               
          amicable disposition of their claims which would result in an               
          acceptable change in the zoning.                                            
               On October 23, 1991, Skippack Township adopted a new                   
          comprehensive land use plan.  The new plan increased, from 80 to            
          337, the number of acres of land in Skippack Township designated            
          for housing at four dwellings per acre (Village Residential).               
          During 1991 and 1992, petitioners worked with Skippack Township             
          with respect to the development, review, and enactment of a new             
          zoning ordinance which included petitioners' land.                          
               On May 23, 1993, the Board of Supervisors voted to change              
          the zoning ordinance as applied to petitioners' undeveloped land            
          and approximately 217 more acres.  This change allowed                      
          petitioners' undeveloped land to be developed as Village                    
          Residential, i.e., four residential units per acre.                         
          Petitioners' Expenses and Federal Income Tax Returns                        
               Petitioners capitalized the startup costs for LM Development           
          including the cost of acquiring the undeveloped land in 1977 and            
          1987.                                                                       




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