Exhibit (a)(3)








December 16, 2005



TO:          UNIT HOLDERS OF YAGER/KUESTER PUBLIC FUND LIMITED PARTNERSHIP

SUBJECT:     OFFER TO PURCHASE UNITS

Dear Unit Holder:

As described in the enclosed Offer to Purchase and related Letters of
Transmittal (the "Offer") the Purchasers named in the attached Offer
(collectively the "Purchasers") are offering to purchase up to 6,390 Units of
limited partnership interest (the "Units") in YAGER/KUESTER PUBLIC FUND LIMITED
PARTNERSHIP (the "Partnership") at a purchase price equal to:

                                  $100 per Unit
                                  -------------

The Offer will provide you with an opportunity to liquidate all, or a portion
of, your investment in YAGER/KUESTER PUBLIC FUND LIMITED PARTNERSHIP without the
usual transaction costs associated with market sales or partnership transfer
fees.

Reasons you may wish to sell your Units:

     o    The  Partnership  began trying to sell its remaining  property 9 years
          ago!
     o    You may wish to sell your Units to us if you want  liquidity  for your
          investment anytime soon.
     o    We are  offering  to purchase  any and all Units,  so if you choose to
          sell your Units, you can completely liquidate your investment.
     o    If you sell your Units,  you will no longer  have to include  Schedule
          K-1 information from this Partnership in your tax return and may avoid
          some  retirement  account  fees which some IRA  custodians  charge for
          holding investments such as limited partnership units.

After carefully reading the enclosed Offer, if you elect to tender your Units,
mail (using the enclosed pre-addressed, postage paid envelope) or fax a duly
completed and executed copy of the Letter of Transmittal (printed on purple
paper) and change of address forms, and any other documents required by the
Letter of Transmittal, to the Depositary for the Offer at:

                        MacKenzie Patterson Fuller, Inc.
                               1640 School Street
                            Moraga, California 94556
                            Facsimile: (925) 631-9119


If you have any questions or need assistance, please call the Depository at
800-854-8357.

This Offer expires (unless extended) January 17, 2006