05-05-1997 WS - Laserfiche WebLink

Home Browse Search

Item No. A Staff Report No. g'7- 7/p WS Meeting Date , 4-7-97 Type of Business WK WK: Work Session;PH:Public Hearing; CA:Consent Agenda;EDAB:EDA Business Mounds View Economic Development Authority Work Session Staff Report To: Mounds View Economic Development Authority From: Cathy Bennett, Director of Economic Development Item Title/Subject: Status Regarding Resident Request to Purchase Land Date of Report: May 1, 1997 Dianne and James Cline, 7870 Woodlawn Drive offered to purchase City owned land behind their home for$1,500 in March. Staff's recommendation at that time was not sell the property in case the City, at some time in the future, has an opportunity to work with a developer to create a subdivision in this area. A possible alternative was suggested that the land be leased to the Clines for a nominal fee per year. The lease arrangement would allow the Cline's to use the land for garden space and an extended backyard. . Staff was directed to have the land appraised to figure out its market value if there was access to the parcel. J. Brown&Associates have appraised the land at$17,000. The value was based on the Sales Approach for similar land lots in the area and deducting the estimated amount that it would take to provide access to the site off of Hillview. (See attached summary and conclusions) The EDA purchased the property from Ramsey County on May 13, 1997 for price of$1,500 plus $99.45 in fees. The City currently owns most of the right of way that would allow for the construction of a cul-de-sac off of Hillview Drive and it was determined by staff that these lots would be big enough for the construction of new standard single family homes. I have contacted the Cline's regarding the appraisal results and have invited them to the work session. Staff is awaiting direction from the EDA regarding this matter. •