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THE <br />Table 7: Full Acquisition Cost <br />Parcel Acquisition Cost Relocation Cost Total <br />PID XX XX,XXX $XXX,XXX $x,xxx,xxx <br />PID XX XX,XXX $XXX,XXX $x,xxx,xxx <br />PID XX XX,XXX $XXX,XXX $x,xxx,xxx <br />TOTAL $X,XXX,XXX $XXX,XXX $x,xxx,xxx <br />Table 8: Exceess Property <br />Excess Property <br />Parcel Remaining Property (sq. ft.) Approximate Value <br />PID XX XX,XXX $XXX,XXX <br />PID XX XX,XXX $XXX,XXX <br />PID XX XX,XXX $XXX,XXX <br />TOTAL XX,XXX $XXX,XXX <br />For the purposes of this study, the net costs of Acquisition Strategy 2 (acquisition cost <br />minus excess property value) will be used as the project costs. After the completion of <br />the current appraisals, and the initial efforts in approaching the affected property <br />owners, this approach should be re-evaluated and adjusted as necessary to minimize <br />project costs. <br />Right-of-way and Easement Vacatio <br />The realignment of Sunwood Drive will necessitate a re -platting of the project area. This <br />process will include the vacation of existing right-of-way associated with the current <br />alignment, as well as easements for drainage and utility purposes. Several new <br />easements will be dedicated through this process to accommodate utilities that will <br />remain in place after realignment. <br />The HRA anticipates working with Solomon, the owner of existing grocery -anchored <br />center, to improve and account for access modification associated with this project. <br />Options considered include access through HRA property to their existing full access on <br />Sunwood, as well as improvements to the existing right-in/right-out access to the east. <br />Project Financing <br />(To Be Provided in a Separate Document) <br />City of Ramsey <br />Sunwood Drive <br />LAND FORM <br />Project No. RAM11008 <br />Page 15 <br />