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I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />EDA CASE <br /> <br />REPORT ON NEGOTIATIONS WITH LAND OWNERS FOR INDUSTRIAL <br />PARK PROPERTY ACQUISITION <br /> By: James E. Norman, City Administrator <br /> <br />Background: <br /> <br />The Ramsey City Council authorized staff to begin negotiations for land to be used for <br />industrial park purposes, during the meeting of June 23, 1998. Staffhas been negotiating <br />with BMA Associates, the landowners of a 149.11 acre site immediately to the west of <br />Ramsey Boulevard and to the north of Highway #10 (map attached). A proposal of <br />$1,491,000 (proposal attached) was submitted to the property owners in November and <br />staff recently received a counter offer response of $3,000,000 (proposal attached). <br />Recent discussions for location of a new technical college have placed a sense of urgency <br />on completing negotiations for the property. The item has been placed on the EDA <br />agenda for discussion and possible recommendation. <br /> <br />Board Action: <br /> <br />Based upon discussion. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />Community Development Director <br />Community Development Assistant <br />Economic Development Consultant <br /> <br />EDA: 12/15/98 <br /> <br />Jo/EDANegot. doc <br /> <br /> <br />