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515 Little Canada Road, Little Canada, MN 55117-1600 <br />(651) 766-4029 / FAX: (651) 766-4048 <br />www.ci.little-canacla.mn.us <br />MEMORANDUM <br />TO: Mayor Keis & Members of the City Council <br />FROM: Joel Danson, City Administrator <br />DATE: October 9, 2015 <br />RE: Purchase Agreement for 30 Little Canada Road, East <br />MAYOR <br />John Keis <br />COUNCIL <br />Rick Montour <br />Michael McGraw <br />Tom. Fischer <br />Christian Torkelson <br />ADMINISTRATOR <br />Joel R, Hanson <br />The owner of 30 Little Canada Road, East has indicated his desire to sell his property at that <br />address. This property was initially targeted for acquisition in the mid 1990's as part of the <br />Round Lake Park concept. The acquisitions process was based on voluntary sales from willing <br />sellers. <br />As you will recall, we conducted an appraisal of this property earlier this summer. The appraised <br />value came in at $105,000. That is the proposed purchase price listed in the attached purchase <br />agreement. <br />The purchase agreement is the standard form we have utilized for a number of residential <br />property acquisitions over the years. The goal would be to close on this property as soon as <br />possible and include it in the demolition process for the three other properties we have acquired. <br />Staff recommends approval of the attached agreement as presented. The owner is <br />reviewing the agreement this weekend and we anticipate having a signed agreement returned <br />before our meeting on October 14t1i. <br />