Agenda - Council - 06/27/1989 - Laserfiche WebLink

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Mr. Hartley stated that whether the subject property was platted as an outlot or a lot, resubdivision of it constitutes a new subdivision subject to park dedication requirements and assessed value, whether it is an outlot or iot, it is calculated the same. Mr. Holm stated that he felt that the $97,400.00 assessed valuation was too high for raw land. Motion was made and seconded and carried for the Mayor and City Administrator to enter into an agreement whereby Mr. Norm Holm and Mr. Gilbert Menkveld agreed to pay the costs of an appraisal of Hy-10 Ramsey 4th Addition to determine the park dedication fee. In the interim, /.Mr. Holm and Mr. Menkveld will place $9,740.00 in escrow with the City for park dedication. -/ The City, to date, has not received the $9,740.00 escrow for park dedication. On December 30, 1988, the City of Ramsey received a market value appraisal report from Dennis Montague of Alpha Appraisal Company. The market value of the subject property was calculated to be $179,600.00. In June of 1989, John Keefe, Ramsey City Assessor, established the market value of the subject property ~i;100,830.00. On May 8, 1989, Mr. Neilson, attorney for Gilbert A. Menkveld, requested that he wanted the record to reflect that he appeared before the Board of Review. He also stated that he would be initiating a law suit by May 15, 1989 with regard to Lot 2, Block 1 of Hy-10 Ramsey 2nd Addition and Hy-10 Ramsey 3rd Addition. Subject lots regarding the Board of Review were PIN 29-32-25-11-0004, 29-32-25-11-0006 and 29-32-25-11-0007. On June 9, 1989, the City received a letter from Norman D. Holm which explained the development history of Hy-10 Ramsey 3rd and 4th Additions as well as suggesting a number of possible solutions to the park dedication. These solutions are: 1. The payment of Three Thousand Dollars ($3,000.00) for park dedication. 2. The $5,000.00 maintenance guarantee deposit be waived. 3. The City refJnd the $500.00 deposit that was made for the appraisal. Recommendations: Staff recommends that pursuant to park dedication ordinances at time of final platting be adhered to and the corresponding $-9,740.00 park dedication fee prevail. In addition, staff recommends that the $5,000.00 maintenance guarantee, which is typically handled in the way of a Letter of Credit, remain in effect as per the proposed Development Agreement. Finally, staff recommends that the appraisal fee for Alpha Appraisal Company be paid for from the $500.00 deposit.