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c‘+? 2W4 ta <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 12, 1995 <br />RE: Denery Development Appraisal Update <br />MAYOR <br />Michael I. Fahey <br />COUNCIL, <br />Beverly Scalze <br />Jim LaVaile <br />Steve Morelan <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Ranson <br />Mr. William Peterson has verbally provided me with the revised <br />value for the property which may be sold to the Denery Developer. <br />With the addition of the ditch and small triangular area, the <br />value has increased from $14,400 to $15,000. This amount is <br />based upon approximately 37,400 square feet of land at an average <br />value of $.40 per square foot. <br />Mr. Moser has indicated this figure is acceptable and is prepared <br />to enter into a purchase agreement. <br />PAGE 12 <br />