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ce+ 1 74 ceanat <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: April 7, 1995 <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 />RE: Purchase Agreement for Sale of Property for Denery <br />Development <br />Attached is the summary information for the appraisal received <br />from Bill Peterson relative to the sale of City property to the <br />Denery property developers. (The detailed appraisal is available <br />in my office for review should you be interested.) You will note <br />that they have set the appraised value at $14,400. However, the <br />ditch and the triangular piece of property just to the south of <br />County Road D were not included in this valuation. The Appraiser <br />is preparing a revision which will be available prior to <br />Wednesday's meeting. <br />It will be my recommendation that we enter into a purchase <br />agreement with the Denery property developers in the amount <br />established by the appraisal process. This may be slightly more <br />than the $14,400 indicated in the appraisal document. <br />JRH:kpv <br />Enclosure <br />cc: Bob Moser <br />Page 40 <br />