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<br />~ <br /> <br /> <br />~ <br />EN HILLS <br /> <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />July 5, 2007 <br /> <br />Agenda Item 7 A <br /> <br />TO: <br /> <br />Mayor and City Council <br />Karen Barton, Community Development Directo~ <br /> <br />FROM: <br /> <br />SUBJECT: <br /> <br />Proposed Process for Sale of former City HalllPublic Works Facility <br /> <br />Back!!round <br /> <br />In late Fall 2005, Council directed staff to obtain an updated appraisal ofthe former Arden Hills <br />City HalllPublic Works facility located at 1450 West Highway 96. Staff conducted a Request for <br />Quotes process for the appraisal and, with Council approval, selected BRKW Appraisals, Inc. to <br />conduct the appraisal. <br /> <br />BRKW submitted the completed appraisal on February 7,2006 indicating a market value of <br />$2,375,000 for the highest and best use according to the current zoning of Neighborhood <br />Business. <br /> <br />In April 2006, Royal Oaks Realty submitted an offer to purchase the former Arden Hills City <br />HalllPublic Works facility for $1;872,960. Upon further negotiations with the City, Royal Oaks <br />amended the offer on June 6, 2006 to $1,997,824 plus a $40,000 park dedication fee for a total of <br />$2,037,824. <br /> <br />At the June 26, 2006 Council meeting, the City Council moved to approve the purchase <br />agreement with Royal Oaks Realty in an amount of $2,037,824. <br /> <br />On July 8, 2006 Royal Oaks submitted a Master and Final Plan PUD and Preliminary Plat for the <br />redevelopment of the former City HalllPublic Works facility. The Planning Commission <br /> <br />City of Arden Hills <br />City Council Meeting <br />July 9, 2007 <br /> <br />\lMetro-inet.uslardenhil/slPlanningICommunity DevelopmentlCouncil Agenda Items\062907 Sale o/Old City Hall memo to council.doc <br />Page I of3 <br /> <br />