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<br />e
<br />
<br />CITY OF ARDEN HILLS
<br />ECONOMIC DEVELOPMENT AUTHORITY
<br />
<br />MEMORANDUM
<br />
<br />DATE:
<br />
<br />January 4.1999
<br />
<br />TO:
<br />
<br />EDA President and Board of Commissioners
<br />
<br />FROM:
<br />
<br />Kevin Ringwald, Executive Director
<br />
<br />SUBJECT:
<br />
<br />Property acquisition for Round Lake Road/Highway 96 intersection
<br />(Indykiewicz property)
<br />
<br />Requested Action
<br />The EDA is being requested to authorize the City Attorney to prepare a purchase agreement for
<br />the entire Indykiewicz parcel (1920 Highway 96) for a price not to exceed $1,150,000,00
<br />(excluding dirt and fixtures), subject to stable soils and no environmental contamination,
<br />
<br />.
<br />
<br />Back!!round
<br />As you are aware, the City has been working on improving the intersection of Round Lake Road
<br />and Highway 96 with Ramsey County, This work has proposed the easterly relocation of this
<br />connection, so as to improve separation from the 1-35W interchange and to improve access to the
<br />Gateway Business District (GBD), The City Engineer in conjunction with Ramsey County have
<br />determined what that realignment should be (Exhibit A). The City has taken, and will take
<br />numerous actions, to effectuate this realignment.
<br />
<br />The City Council on June 8,1998, adopted Resolution No, 98-44, which authorized the
<br />condemnation of the 6,8 acre Indykiewicz property (Exhibit B), The City Attorney served legal
<br />notice to the Indykiewicz's on September 11, 1998, which started the 90 day "Quick Take"
<br />process, Therefore, the theoretical acquisition date would be Thursday, December 10, 1998,
<br />However, the City has yet to provide the property owner the required 30 day notice to vacate the
<br />property, The Staff has been continually working with the property owners in an attempt to
<br />avoid court action and resolve this acquisition through a negotiated settlement,
<br />
<br />How was the oronosed Purchase Price determined?
<br />The Staff authorized the preparation of two appraisals for the total acquisition of the Indykiewicz
<br />parcel. The two appraisals were required by Ramsey County to qualify for reimbursement, The
<br />two appraisals were then sent to a review appraiser who determined what the value of the
<br />property should be, The review appraiser determined that the value ofthe property should be
<br />$1,030,000,00, which happened to be exactly the value of the higher of the two appraisals, The
<br />lndykiewicz's had an appraisal completed for their property and it determined that the value was
<br />at least $1,300,000,00, The Staff extended an informal offer to the Indykiewicz's of
<br />$1,100,000,00, The Indykiewicz's counter-offered with a value of$I,150,000,OO, which is the
<br />. price being forwarded to the EDA for its consideration,
<br />
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