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REQUEST FOR COUNCIL ACTION <br />Department Approval <br />Date: 03/21/11 <br />Item No.: 7.1 <br />City Manager Approval <br />Item Description: Approve the Acquisition of a Parcel for Storm Water Purposes at 8XX <br />Brenner Ave. from the Reiling Estate <br />=1L 11 <br />2 Staff met with the City Council in a closed session on July 12, 20 10 to discuss the purchase of a <br />3 residential parcel at approximately 8XX Brenner Avenue for storm water purposes. This parcel <br />4, was recommended for purchase for storm water flood mitigation in a drainage study <br />5 commissioned in 2006 for the Brenner, Millwood, Avon neighborhood. This parcel contains a <br />6 small wetland and is connected to the city storm drain system. This parcel receives considerable <br />"7 backyard drainage from the neighborhood and the storm water modeling indicated it is critical <br />8 to lowering the risk of flooding of adjacent and downstream homes. The Council reviewed the <br />9 property appraisal for the parcel and authorized staff to negotiate a purchase agreement with the <br />110 trustee of the Reiling estate for purchase of the parcel. The City Attorney drafted a purchase <br />11 agreement for the parcel and it was presented to the Reiling estate trustee. The initial offer was <br />12 $,56,250, the amount in the city's appraisal. The Trustee on behalf of the estate, commissioned <br />13 their own appraisal and through subsequent negotiation with staff has agreed to a $,65,000 <br />14, purchase price. This amount is considerably less than the approximately $, 1 50,000 amount <br />15 contemplated in the 2006 study when property values were higher. Attached is the draft purchase <br />116 agreement (Attachment A). After approval by the Council staff and the City Attorney would <br />1 "7 execute the agreement with the trustee and the subsequent recording with Ramsey County. <br />11 111",','.11'1111 POLICY OBJECTIVE <br />119 The City maintains a storm water system to facilitate drainage, improve water quality, and to <br />20 minimize the risk of flooding of private property. This parcel is critical to meeting that objective <br />2 1 for this neighborhood. <br />22 FINANCIAL IMPACTS <br />23 This purchase will be funded from Storm Water Utility funds. This purchase was anticipated in <br />24, Capital Improvement Plans. The total purchase price in the purchase agreement is $,65,000 and <br />25 within the range as discussed and authorized previously with the City Council. <br />26 <br />27 STAFF RECOMMENDATION <br />28 Staff recommends purchase of this parcel for storm water purposes. Property values are at a <br />29 recent low and this purchase is a good value to protect neighborhood homes. <br />30 <br />31 <br />32 <br />33 <br />Page I of 2 <br />