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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.inn.us <br />March 28, 2002 <br />Rutzick Family, LP <br />Attn: Mr. Sherman Rutzick <br />185 Plato Boulevard West <br />St. Paul, MN 55107 <br />RE: Rice Street /Little Canada Road Area <br />Redevelopment Project <br />Offer Letter <br />Dear Mr. Rutzick: <br />MAYOR <br />Michael I. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Matt Anderson <br />Rick Montour <br />ADMINISTRATOR <br />Joel R. Hanson <br />As you know, as part of the Rice Street /Little Canada Road Area Redevelopment Project, the <br />Economic Development Authority of the City of Little Canada is considering the purchase of <br />the fee title to your property, as described below. <br />Legal Description: <br />The south 1.65' of the North 1,102.83' of the East 208.72' of <br />the West 417.44' of the Northwest % of the SW Vt of Section 6, <br />Township 29 Range 22 and all of Lot 4 Block 1 Sherman Oaks <br />Addition according to the plat on file and of record in the Office <br />of the Registrar of Deeds in and for Ramsey County. <br />Property Description: Approximately 214,315 square feet of vacant land located on <br />the south side of Little Canada Road and east of Rice Street, <br />within the City of Little Canada, Ramsey County, Minnesota. <br />Tax ID Number: 06- 29 -22 -32 -0019 <br />As you know, the City hired a competent real estate appraiser who appraised your property. <br />In addition, a review appraisal of your property has also been conducted. Please be advised <br />that subsequent to said appraisal and review appraisal, the Economic Development Authority <br />has established just compensation for your property at $xxx,xxx.xx. <br />