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<br />~ <br /> <br />. -- " . <br /> <br />(jwJJq ~ & 0~ <br /> <br />QUALITY BUILT HOMES <br /> <br />GENERAL CONTRACTORS <br /> <br />JERRY OR RICH <br />489-3850 <br /> <br />972 W. IOWA AVE. <br />5T. PAUL. MN 551 17 <br /> <br />Dear Roseville Mayor/City Council Member: <br /> <br />October 16, 1995 <br /> <br />This letter is a summary of a study I did in response to Resolution 9226 ITom the city <br />council meeting of September 25, 1995 that I the developer, Kettler Construction, Inc. <br />"determine the feasibility of enlarging the project area to include all homes east of <br />Rosetown Court and south of County Road C." Rosetown Court is the proposed road <br />that would replace the existing driveway to the Rosetown American Legion building. <br /> <br />There are four property owners to be included in this study: <br /> <br />Fred and Joan Booth <br />Steve Britz <br />Harold and Anna VanSickle <br />Alvin and Janet Jensen <br /> <br />626 West County Road C <br />634 West County Road C <br />686 West County Road C <br />690 West County Road C <br /> <br />On September 26, 1995 I mailed a letter to each of these property owners, asking them if <br />they were interested in selling their property and, if so, what was their asking price. I have <br />included a copy of this letter with their response. <br /> <br />I conducted my study of the two island property owners separately. I assumed that both <br />property owners on an island wanted to sell because it would be impossible to develop if <br />just one or the other property owner was willing to sell. My engineering consultant, <br />Chuck Plowe of Plowe engineering did an overlay on both of these parcels (attached) to <br />determine the maximum number of townhome units that would fit on each parcel. His <br />results illustrate four additional units on each parcel. <br /> <br />The first island property owners, Booth and Britz, are located on the northeast comer of <br />this proposed development (see attached map). Their combined asking price is $272,000. <br />Based on their asking price with a maximum of four additional units equates to $68,000 <br />per lot plus development costs (which is averaging approximately $19,000 per lot) for a <br />total developed lot cost of $87,000 per lot. This is compared to a total developed <br />average lot cost of $40,938 per lot on the rest of the development. <br /> <br />The second island property owners, Van Sickle and Jensen, are located on the northwest <br />comer of this proposed development. Jensen's asking price is $180,000 and Van Sickle's <br />