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8. The success of the entire Newhall development of a planned com-
munity may well hinge upon the master plan that the Company
adopts. The ultimate plan should be imaginative and well calcu-
lated to make the most of the raw land that now exists. The
character of the master plan seems to be the single most im-
portant factor bearing on the Newhall development. With an ex-
pert plan that will be carefully implemented, the Newhall proper-
ties can be developed with excellent possibilities £or maximizing
profits for the Company.

9. Concurrently with land use planning, the Company may want to
examine further the following problems:

a . Leasing versus selling industrial and residential land.
b . Determining the most suitable industries for the New-
hall property. ,
c. Defining that stage of industrial develgpment at which
residential development could begin with a reasonable
chance of success.
d. Determining how residential subdivision should be
handled: by the Cbmpany, a subsidiary, or an outside
subdivider.

10. If Newhall property is developed around an industrial nucleus, fol-
lowing an expert master plan in which modest areas are opened for
use over perhaps several decades, it can become an ideal com-
munity.

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