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1180 Lyman Ave. <br /> Cul-de-sac Analysis <br /> October 2,2009 <br /> Page 3 <br /> Next Steps <br /> 1) City Attorney to draft appropriate easement document(s) for filing prior to sale. <br /> 2) Appropriate selling price to be determined, taking into account: <br /> - $10,000 purchase price <br /> - approximately $1,600 in survey work <br /> - approximately 30 hours of staff time @ $50 /hour= $1,500 <br /> - estimated 6-8 hours of cumulative City Attorney & City Engineer time incurred <br /> to date and to be incurred = $1,500 <br /> Total documentable expenditure by City: $14,600 <br /> Staff Recommendation: Set the selling price to Palmer at $15,000. <br /> Note: If Council intends to make a profit on this sale an appraisal will be necessary. <br /> Given the underlying MnDOT intent of City's acquisition of the parcel for resale to <br /> Palmer as partial compensation for the takings of portions of his homestead property, it <br /> would seem reasonable to cover the City's costs but not realize a windfall profit from the <br /> sale. <br /> 3) Optional: Hold public hearing or otherwise contact neighboring property owners to <br /> advise of City's intent? There is no specific statutory or City requirement that this be a <br /> public sale, nor that there be a public hearing. Soren and I have concluded the City <br /> ordinances governing sale of surplus property were not intended to be applicable to real <br /> estate. <br /> 4) Council Resolution to authorize sale and waive review by Planning Commission <br /> (requires 4/5 vote of Council). <br /> ',II <br />