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a 2V/4 Ceanack <br />515 Little Canada Road, Little Canada, MN 55117-1600 <br />(612) 484 -2177 / FAX: (612) 484 -4538 <br />MEMORANDUM <br />TO: Mayor Fahey & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: February 21, 1997 <br />RE: Little Canada Road /Country Drive Purchase Agreements <br />MAYOR <br />Michael 1. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morel= <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />At the last meeting, we were authorized to finalize purchase agreements with various property <br />owners along Little Canada Road and Country Drive. In listing the purchase prices for 20 W. <br />Little Canada Road ($105,000) and 2942 Condit Street ($130,000), I neglected to take into <br />consideration the issue that these prices were less than the appraised value. Based on <br />representations we have made to other property owners, we had indicated a willingness to <br />split the difference between asking price and the appraised price. While the difference in <br />these two cases is only $2,000, I felt I should bring this to your attention as a matter of <br />consistency. <br />It would be my recommendation that we revise the purchase prices for the properties as <br />follows: <br />JRH:kpv <br />20 W. Little Canada Road $106,000 <br />2942 Condit Street (including Country Drive property) $131,000 <br />Page 45 <br />