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ORIGINATING, DEPT /I DIV.: <br />Administration <br />JEM DESCRIPTION! Acquisition of PIK TerMJnal property for <br />park land, <br />MEETI�N�G, 6/27/83 <br />DATE". <br />I Vi 0 <br />The Counci 1, at 1"As, May 23rd meeting., instructed the City Attorney to take <br />action tio condem property owned by PIK Terminal to be used as park. <br />Because of J'Lssues raised at, that Council meeting by PIK Terminal repre- <br />sentatives re 1 <br />.gard*ng the value of the property., additional -onformation <br />has been.prepared bly the City's appraiser, Mr., Dwyer,.1 (See attached letter,) <br />In May of 1982, the value of the PIK Terminal property was estimated at $36,000. <br />The appraiser has determined a value at, this time, between $71,1900 and $89,900 <br />for the 1.65 acres, <br />As Mr. Dwyer indicates 'in his letter, the-re "is no way, of knowing what the <br />final condemnation, award, may be. However, based on past history, -it is <br />usually somewhere between the value of the two appraisals, It would appear <br />there *is a fairly giolod, chance the City co,uild, end, up paying in excess of <br />$ 100, 1000 . <br />If the Couniciol decides condemnation should be pursued, no further action is <br />because of this additional in,format,' <br />necessiaryi. if, im, the Council decides <br />not to pursue thie acquisition of thd parcel, a motion repealing the action of <br />May 2113rd, should be made, <br />I <br />