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G.t�tle <br />uanada <br />MAYOR <br />Bill Blesener <br />COUNCIL <br />Rick Montour <br />John Keis <br />Michael McGraw <br />Shelly Boss <br />515 Little Canada Road, Little Canada, MN 55117-1600 <br />(651) 766-4029 / FAX: (651) 766-4048 ADMINISTRATOR <br />www.ci.Iittle-canada.mn.us Joel R. Hanson <br />MEMORANDUM <br />TO: Mayor Blesener and Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: June 20, 2014 <br />RE: Frattalone Easement <br />Attached is a diagram of an easement needed from Frattalone Companies for the water <br />works trail on the north side of the railroad tracks. The easement area is 1,678 square <br />feet in size. <br />Mr. Frattalone has generously agreed to donate the easement to the City if we would sign <br />an acknowledgment that the land is worth $5 per square foot ($8,390). I reviewed the <br />County's tax records and the estimated market value for the overall site is $4 per square <br />foot. When you consider the added costs we would have incurred if eminent domain <br />were necessary, we would have easily exceeded this value. <br />In another comparison, I reviewed the land values from the Little Canada Road project <br />where we acquired easements for sidewalk purposes. St. John's land was valued at $5.50 <br />per square foot. The BP Gas Station was valued at $10.25 per square foot. The <br />residential properties were valued at $9.54 per square foot. Given this information, $5 <br />per square foot appears more than reasonable. <br />Based on this information and subject to any comments from the City Attorney, staff <br />recommends we accept the donation of a trail easement from Frattalone Companies at a <br />value of $5 per square foot and to authorize staff do document same in a letter of <br />acceptance. <br />