Question: please do not solve this question by excel. 2. The city council of Fayetteville is in the process of approving the construction of a new
2. The city council of Fayetteville is in the process of approving the construction of a new 200,000-ft convention center. Two sites have been proposed, and both require exercising the "eminent domain" law to acquire the property. The following table provides data about proposed (contiguous) properties in both sites together with the acquisition cost. Site 1 Site 2 Area (1000 ft?) Property Area (1000 ft) Cost (1000 $) Cost (1000 5) 1,000 2,100 2,350 1,850 2,950 2,800 1,900 2,800 2,500 Partial acquisition of property is allowed. At least 75% of property 4 must be acquired if site 1 is selected, and at least 50% of property 3 must be acquired if site 2 is selected. the publicul po 2. The city council of Fayetteville is in the process of approving the construction of a new 200,000-ft convention center. Two sites have been proposed, and both require exercising the eminent domain" law to acquire the property. The following table provides data about proposed (contiguous) properties in both sites together with the acquisition cost. Site 1 Site 2 Area (1000 ft?) Cost (1000 $) Property Area (1000 ft) Cost (1000 $) 1,000 2,100 2,350 2,800 1,900 2,800 2,500 1,850 2,950 Partial acquisition of property is allowed. At least 75% of property 4 must be acquired if site 1 is selected, and at least 50% of property 3 must be acquired if site 2 is selected. 2.3 Selected LP Applications 31 Although site 1 property is more expensive (on a per ft basis), the construction cost is less than at site 2, because the infrastructure at site 1 is in a much better shape. Con struction cost is $25 million at site 1 and $27 million at site 2. Which site should be se lected, and what properties should be acquired? A city will undtartar fi
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