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<br />REQUEST FOR COUNCIL ACTION <br /> <br />DATE: 3-23-92 <br /> <br />1-1, - <br />-<--,I <br />ITEM NO.: ' <br /> <br />~fr- <br /> <br />Agenda Section: <br />Or~inances and Resolutions <br /> <br />Depa~;;:;rf!l <br />I. . <br />Item Descr1pt1on: <br /> <br />Manager Reviewed: <br /> <br />Resolution: Purchase of tax forfeited lands. <br /> <br />Background: <br /> <br />1. As the City council will recall, it made the determination <br />that the City parkland adjacent to the new Zeece plat, would <br />not continue to be used for park purposes. <br /> <br />2. Based on this decision, the tax forfeited lands were turned <br />back to the county, and now the City has the first right of <br />refusal to purchase that property. <br /> <br />3. The total cost of the property less the City's 20% returned <br />share, is $98,230 (a letter from Mr. Bell depicting the <br />costs is attached). <br /> <br />4. The property that was previously purchased by Roseville from <br />Mr. Zeece sold for' $38,500, less the utility costs which <br />created an effective cost of $2.30 Der sa. ft. <br /> <br />5. In comparison, the cost of the 2.02 acres of County land is <br />$1.12 unimproved vs. the $2.30 unimproved sq. ft. cost that <br />was paid to Mr. Zeece. <br /> <br />Alternatives: <br /> <br />1. The City could let another party purchase the land if it <br />decides not to move forward with the purchase from Ramsey <br />County. <br /> <br />2. The City could "pass" on its first right of refusal for this <br />property and enter the auction in an attempt to get a better <br />price. <br /> <br />Staff Recommendation: <br /> <br />1. Based on the price for unimproved sq. ft. of $1.12 vs. the <br />appraised $2.30 per sq. ft. paid on the Zeece property, staff <br />would recommend purchase of the adjacent properties for the <br />net cost of $98,230. <br />