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0 While the City does not own any other freestanding communication towers, the City does <br /> manage four leases for antennas on the City water towers. Those four leases generate <br /> approximately$60,000 in revenue per year. <br /> Property Information <br /> The existing property is 2.76. Once subdivided, the communications tower property would <br /> retain approximately.5 and the housing property would include the remaining 2.26 acres. An <br /> access easement connecting County Road F to the tower property would be dedicated to the City. <br /> Ramsey County Assessor lists the following values for the existing property: <br /> o 2010 Total Market Value= $903,000 <br /> o 2009 Land Market Value= $715,600 <br /> o 2009 Building Market Value=$187,770 <br /> o 2009 Total Market Value= $903,300 <br /> o 2009 Total Tax Payable= $27,580 <br /> If the City purchases the communications tower property, it would no longer generate property <br /> taxes. The housing portion of the property would continue to generate property taxes. <br /> 0 Attachment <br /> o Communications Tower Sale Proposal <br /> o Air Photos of Communications Tower <br /> City of Arden Hills <br /> • C:Wsers joe.rueblAppDatalLocabMicrosof llti3ndowsITemporary Internet Files1Content.Outlook X8R1DU3K1030910-FPAC Memo-Reiling <br /> Tower Purchase_doc <br /> Page 3 of 3 <br />