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<br />Indykiewicz Property Acquisition
<br />Page Two
<br />January 4, 1999
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<br />Do we have to buv the entire nronertv?
<br />No, The EDA can choose to just purchase that part of the property required for the road, which is
<br />approximately 4,05 acres (see Exhibit A), The Staff authorized the preparation of an appraisal
<br />for the "partial taking", The value determined by the appraiser was $635,000,00 (including
<br />$16,000 in severance damages).
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<br />However, the property owner has stated that they are not interested in a partial take, Therefore, a
<br />negotiated settlement is not possible for the partial take, Additionally, the property owner has
<br />stated that if a partial take is pursued that they would file an adverse condemnation suit and
<br />attempt to force the purchase of the entire site, The property owner believes that the remnant
<br />parcel is to small to provide for their business needs and that it provides for an unsafe point of
<br />access for trucks entering and exiting the site, The property owner mayor may not prevail on
<br />their adverse condemnation claim, but it would certainly add additional time and money to the
<br />project.
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<br />What is the status on price for Fixtures and Dirt?
<br />The property owner has stated that the fixtures are worth $143,650,00 and the dirt is worth
<br />$210,000,00 (35,000 cubic yards x $6,OO/cubic yard) for a total of$353,650,OO, The Staff has
<br />authorized the preparation of a fixture appraisal, which will determine the price of the fixtures
<br />and dirt. It is anticipated that the appraisal will be ready within the 10 to 14 days,
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<br />The property owner has suggested that they are amenable to coming to agreement on the
<br />purchase price of the property, excluding fixtures and dirt, now and continue to work on the
<br />value of these items, Essentially, what is being proposed is that if a negotiated agreement on the
<br />fixtures and dirt is not reached (say, within 30 days of the signing of the purchase agreement)
<br />then an arbitration process would start to resolve the value of these items, Assumably then,
<br />$353,650,00 would be the worst case scenario for the fixtures and dirt, unless our appraisal
<br />comes in at a higher number,
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<br />Whv not let Ramsev County build the intersection in their time frame?
<br />Ramsey County is in the process of reconstructing Highway 96 road from Old Highway 8 in
<br />New Brighton to Interstate 35E in White Bear Lake, Ramsey County has segmented this
<br />reconstruction project over a period of years, The original reconstruction schedule (January,
<br />1996 - Concept Study) for the entire project was estimated to commence in the year 1997 and
<br />conclude in the year 2000, Two segments of this reconstruction project are located in the City of
<br />Arden Hills, Segment One is from Old Highway 8 to Highway I 0 and Segment Two is from
<br />Highway 10 to Lexington A venue, The reconstruction of Segment One was originally planned
<br />to commence in 1998, The reconstruction would involve the provision of a four lane divided
<br />highway, reconstruction of the Interstate 35W bridge, relocation of the West Round Lake Road
<br />intersection, relocation of the entrance to the Arden Manor Mobile Home Park, and
<br />reconstruction of the Highway 10 intersection,
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