Laserfiche WebLink
CFN Ofd <br /> REQUEST FOR COUNCIL CONSIDERATION Agenda Section: ?. <br /> IVA <br /> STAFF REPORT Report Number:9 0_16 2 7WS <br /> pAGENDA SESSION DATE March 4. 1996 Report Date: 2_29-96 <br /> 41.pts'ParcneRoQ <br /> POSITION <br /> Item Description: <br /> Discussion of Appraisal Report for Three Land Lots on the Corner of Highway 10 and <br /> Edgewoon Drive <br /> Administrator's Review/Recommendation: <br /> - No.comments to supplement this report gG� <br /> - Comments attached. <br /> Explanation/Summary (attach supplement sheets as necessary.) <br /> SUMMARY; <br /> Per the Council's direction, staff commissioned an appraisal for the three land lots on the corner <br /> of Highway 10 and Edgewood Drive. These properties are in a wetland and have been identified <br /> for use in Mounds View Surface Water Mangement Plan. A retention pond can be constructed as <br /> part of the Bronson Drive reconstruction project. <br /> Attached is the summary of appraisal, provided by McKensie Metro Appraisers, for these land <br /> lots as a whole. The owner's agent has offered to sell the large lot to the City for$295,00 with <br /> 0 the contingency that wetland restrictions be lifted on the two small lots on Edgewood Drive so <br /> that he may develop them with light commercial or residential. <br /> Currently, there is an estimated $230,000 in the Surface Water Management Account. The City <br /> may choose to use some of these funds for the purchase of the property. <br /> Mike Ulrich and I will be available for questions at the work session. <br /> /i 1 <br /> 'Yl X17) 1`! ! / _ , . <br /> Cathy Bennett, Economic Development Coordinator <br /> 4111commsaimasl <br />