Agenda - Council - 01/24/2012 - Laserfiche WebLink

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