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Sullivan Property Acquisition Feb 1, 2010 Page 2 Aside from serving as a future location for a stormwater management feature, the propery could serve other purposes to the City. The property presently functions as a stormwater overflow outlet for Woodcrest Park, which is located across the street from the subject parcel. Construction on the subject parcel—unlikely as it may be—could result in the City having to readdress run-off from the Park. A secondary benefit would be to preserve the majority of the heavily wooded site and ensure continued animal habitat and green space. While the demand for housing has cooled significantly over the last two years, at some point in the future, the wooded site could become attractive enough to justify the necessary soils corrections and required permitting approvals. The assessed valuation of the property has decreased since the 2007 consideration. At present, the land is valued at $29,900 according to Ramsey County, but if the land has no development potential, it would seem the value would be far less than $29,900. Included with this report is an excerpt from the 2005 Street Improvement Project report prepared by BRAA directly relating to this parcel. In addition, attached is a wetlands map and a parcel map for your review. Recommendation: Staff seeks direction from the Council as to whether it would support acquisition of this parcel for the purposes of stormwater management. If the Council supports acquisition, staff would prepare an offer letter to Ms. Sullivan. The cost of the acquisition could come from the stormwater management fund, as had been proposed in 2007. If accepted by Ms. Sullivan, staff would bring forward a resolution formalizing the acquisition at a future meeting. Respectfully submitted, ________________________ James Ericson Clerk - Administrator Attachments: 1. 2005 Street Improvement Project Report excerpt 2. Parcel Map 3. Wetland Zoning Map 4. 2007 Offer Letter to Ms. Sullivan