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<br /> . CITY OF 1\RDEN HILLS <br /> MEH:IU\NDtlM <br /> 'It) : Mayor and City ccuncil . 0 <br /> FRCH: Dorothy Person, 1ldministrator 8f <br /> DATE: """"'-'hA1- 14, 1992 <br /> SllBJECT: Lot sale - NW corner of Brueberry Lane and Old Highway 10 <br /> As you are aware, the City Council received a request fram Fdgewater <br /> Estates Partnership, Inc. for the purchase of the above lot. '!he Council <br /> requested that this lot be advertised to received closed bids pri= to <br /> negotiations on this purchase request. No bids were received. <br /> '!he negotiations then continued with Fdgewater Estates Partnership, Inc. <br /> ihese negotiations have resulted in a final offer by Fdgewater of $28,500, <br /> with the City incurring the cost of the lift station removal. '!his lot was <br /> appraised in 1991 at $26,000<with lift station reIOOVal). <br /> Advantages to this sale include continuing with consistent developnent <br /> . of the adjacent townhouse development arrl the developer is a kIPNn quantity <br /> arrl has a positive record. <br /> Disadvantages include primary costs of lift station removal are assumed ~>0 <br /> by the city, other lots have sold at a slightly higher price, depending on <br /> location. \J . ~> <br /> \ <br /> I' <br /> , ~\"'fU <br /> , j ^1 <br /> Its \sy {o <br /> ~~ ~\'" <br /> Lc;Ts- ~~a <br /> ~ <br /> (J~~ <br /> ~ <br /> ".-.. <br /> .-....--. ..s--; ." ,,' <br /> ~~ /"b <br /> ~~~ <br /> (7'4.) <br />