Correspondence 1985-1989 Dahlgren

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� �s � Page 2 Planning Office Hour October 22, 1986 3. Rosepointe, 340-6501_ Rosepointe Senior Citizen's housing project site plan was reviewed w�th the staff. The Engineering staff noted that drainage will proceed up the westerly side, then north- easterly to Hamline. The alignment of this storm sewer passes und�r the proposed entrance sign. The storm sewer should be rerouted around the sign, or the sign location changed. The sign is also ten feet closer than required to the new property line, resulting from the ten foot dedication on the west sid� oF Hamline Avenue. It was agreed adjustments can be made to the site plan to accommodate these concerns within the Planned Unit Development approval. 4. L�a�y, �49-8�07 Jim Leary, from Coldr�ell Banker, was in with Charles Wensch a�nd Tom S�affer, also from Coldwell Banker, ta review with the staff po�sibilities for the redevelopment of the Standard Oii site westerly of the Timpte site, sauth of County Road C, w��terly o� Long Lake Road. This is a ten acre site which Amoco n a price that cQuld range from �2.50 t Porkions of this land ax� zoned B-4, � zoned industria�l., They are aware str�et, purchased by JL1V Company, �wat�n Trust, went fAr $3.50 per Hank�r's questian .is what is th� most ianc� . � ow proposes to sell for o $5.00 p�r square foot. and portions of it are that land across the (,�eff �Ieilsen) from the square foot. Coldwell appropriate use for the I sugg��t�d that it �rould be in their client's b�st interest to not ma�ket th� land naw �t �2.5a a square foot, but to wait i�ntil th� completion and oc�upancy of the property across th� s�r�et tRos�ville Corparat� C�nter), at which time �h� mark��t wo�1d suggest a pric� closes �.o $5.00 rather than th� $2.50 :igure. The probl.em here is that if everyone wants te� ma;rket th� land at onc�! the market is saft enough such that thc 'Ehighest anc� best us�" will not be obtained for all th� praperties at one�. Thus, it appears to me, in the int��st of the City and that of the landowner, to time the sal� o�: th� lar►d to coincid� with an increase in the market d�mand;. Th� alternative is to s�ll thc land ch�ap, which warks against the City's interes� �o obtain maximum, reason- abl� �.�ntensification �f th� land use. M�� L�ary no��d t'�at he would pass tihis suggestion on to the landowners. Th� p�obl�m with this, howev�r, is that an immeeiiate �ale (though at a low�r price) is frequently in the best interest o� th� realtor Ya�her than advising the client to ho].d the l�nd for any extended period of time (resulting in no in�n�diatc� commission) .