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<br />. <br /> <br />made to City included our responsibility for demolition of buildings <br />and site clean up. <br />3. The appraisal assumes access from Hamline Avenue. On page 11 of <br />their report it states that "the cliel1t also stated the appraisal should <br />assume the land has access from Hamline A venue by virtue of an <br />esisting road easement to the southeast corner of the subject <br />site."COMMENT: Limiting access to right in! right out movement <br />only is not in keeping with the appraisal of the land. <br /> <br />It is clear to us that the City Council wants a "residential" style office condo <br />development that is compatible with the surrounding residential units. The City <br />also wishes to restrict the development density beyol1d the zonil1g standards in <br />order to again "softel1 the impact" ofthe development on adjacent properties. We <br />therefore cannot offer to buy thc subject propcrty at the unrestricted highest and <br />best use fair valuc. W c do offer to the City a purchase price of $30.00 per square <br />foot of building area or $1,872,960.00. Your currel1t appraisal assumes and <br />therefore we also assume that the existing materials and building improvements <br />will be cleared from the site and the subject property is not negatively affected by <br />the existence of hazardous substances or detrimental environmental conditiol1s. <br /> <br />Upon you acceptance of this site plan and this purchase price we will prepare <br />complete site, grading, utility and building plans for normal City processing <br />through the Planning Commission and City Council meetings. <br /> <br />. <br /> <br />Sincerely, <br /> <br />~atAd2LZA~-----~ <br />, ".... - - r~ , -- , - ,- <br />Marcel Eibel1steiner, President <br />Royal Oaks Realty, Inc. <br /> <br />. <br />