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DORSEY & WHITNEY <br /> • A P� TNL66NIP INCLUDINO Pa F-310—GO-21TIONs <br /> Dso PARE AVENUE 2200 FIRST BANK PLACE EAST 201 FIRST AVENUE,S.W.,sulTe Sao <br /> NEW YORE,NEW YORK 10022 ROCHESTER,MINNESOTA 33902 <br /> (212)415-9200 MINNEAPOLIS, MINNESOTA 55402-1498 (507)288-3156 <br /> 1330 CONNECTICUT AVENUE,N.W. (612) 340-2600 <br /> WASHINGTON.D.C.20036 TELEX 29-0605 1200 FIRST INTERSTATE CENTER <br /> (202)857-0700 PAR(612)440-2668 BILLINGS,MONTANA 39103 <br /> 3 GRACECHURCH STREET (406)282-3800 <br /> LONDON EC3V OAT,ENGLAND - <br /> 44-71-929-3534 <br /> 201 DAVIDSON BUILDING <br /> 36,RUE TRONCHET VVI1JJM R.scam GREAT PALLS,MONTANA 59401 <br /> 75009 PARIS,PRANCE (406)727-3632 <br /> 33-1-42-66-59-49 (B 12)340-29W <br /> 45,RUE DE TREVES <br /> 127 BAST FRONT STREET <br /> B-1040 BRUSSELS,BELO]IIM <br /> 32-2-236-78-11 June 2, 1992 MIBSOD�)MQN�3 59802 <br /> Mr. Thomas D. Burt <br /> City Manager <br /> City of St. Anthony <br /> 3301 Silver Lake Road <br /> St. Anthony MN 55418 <br /> RE: Clark Station and Adjoining Property <br /> Dear Tom: <br /> • As you requested, I spoke to Derck Amerman regarding the City's proposed <br /> purchase of his property at 3309 Stinson Boulevard. As I mentioned to you earlier, <br /> he was concerned about the tax consequences to him of the capital gain on this sale, <br /> since he has a very low basis for the property. I told him that I thought he could <br /> defer that gain if he were to buy another rental property within a period of 3 years. <br /> He checked that point with his accountant and is satisfied that that would work. He <br /> still is reluctant to sell, however. <br /> He said that he would prefer not to sell it, but that if we insisted on acquiring <br /> it, he would get it appraised to try to determine what the price should be. For your <br /> information, he told me that the assessor's value for the 1992 assessment was <br /> $84,000. <br /> Please let me know whether you want to proceed any further with this. <br /> Ver rul yours, <br /> Wi liam R. Soth <br /> WRS:gle <br /> • <br />