Laserfiche WebLink
515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(612) 484 -2177 / FAX: (612) 484 -4538 <br />February 7, 1997 <br />MAYOR <br />Michael I. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morelan <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />TO: Mayor Fahey and Members of the City Council <br />FROM: Joel R. Hanson, City Administrator <br />RE: Little Canada Road /Country Drive Purchase Agreements <br />Purchase agreements have been sent to the above - referenced <br />property owners based on the following prices: <br />Little Canada Road <br />56 West Little Canada Road - $98,000 <br />20 West Little Canada Road - $105,000 <br />96 West Little Canada Road - $102,000 <br />Country Drive <br />2944 Condit Street - $104,500 <br />2942 Condit Street (inc. Country Drive property) - $130,000 <br />All these properties are at or below the appraised value. I am <br />looking for authority for the Mayor and me to execute these <br />purchase agreements on behalf of the City and to arrange for <br />closings. The purchase agreements contemplate $100 refundable <br />earnest money to secure the transaction. <br />The Storm Water Construction Fund is the source of funding for <br />the acquisition of the two properties at the west end of Round <br />Lake. 96 West Little Canada Road would be acquired with future <br />development district proceeds. The Country Drive parcels would <br />be purchased with excess Tax Increment dollars within the <br />redevelopment district. As a point of information, the Parks & <br />Recreation Commission has recommended the use of Park Land <br />Acquisition Funds to assist in additional Round Lake acquisitions <br />should they be forthcoming. <br />Page 18 <br />