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<br />. <br />. <br /> Arden Hills Council 7 December 14, 1992 <br /> Person reported that the final result of negotiation is an <br /> offer from Edgewater for a purchase price of $28,500 with <br /> the condition that the City incur the cost of removing the <br /> existing lift station from the subject property. She added <br /> that a 1991 appraisal of the property was $26,000 with the <br /> lift station removed. <br /> Person noted the advantage of selling the lot ,,'ould be that <br /> the buyer has a good development record with the City and <br /> intends to develop the lot consistent with adjacent <br /> townhomes development. She stated the possible disadvantage <br /> is that removing the lift station may have complications <br /> which could result in higher than expected costs to the <br /> City. <br /> Councilmember Malone commented that the subject property <br /> appears to be landlocked and its intended use by Edgewater <br /> appears to be the only reasonable use of the land. He added <br /> that since there has been no interest expressed by any other <br /> buyer, he would be inclined to finalize negotiations with <br /> Edgewater. <br />. Councilmember Mahowald commented that in reviewing <br /> information as to comparable sales, it appears Edgewater's <br /> offer is fair and would allow for the best use of the <br /> property. He favored proceeding with the sale as <br /> negotiated. <br /> Councilmember Hicks commented that Edgewater's offer is <br /> $28,500 with no park dedication, and costs for removal of <br /> the lift station are to be incurred by the City. He said <br /> that in this ease, park dedication may not be an important <br /> consideration, but he would prefer to sell the property for <br /> $25,000 as is, making the buyer responsible to remove the <br /> 1 ift station. <br /> Person said that arrangement was considered, but the 1991 <br /> appraisal of $26,000 assumed the removal of the lift <br /> station. <br /> Councilmember Growe said this does not appear to be a prime <br /> lot and she would be inclined to accept Edgewater's offer. <br /> Mayor Sather commented that taxpayers would be better served <br /> by selling the property and having it become taxable. He <br /> added that continuity of development would also be a plus. <br />. <br /> ---- ------------- <br />