Agenda - Council - 02/12/1980 - Laserfiche WebLink

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CLIFFORD R. JOHNSON & ASSOCIATES, INC. 5353 WAYZATA BOULEVARD, MINNEAPOLIS, MINNESOTA 55416 $ TELEPHONE (612) 546-1338 CLIFFORD R. JOHNSON SAMPSON R. CHILD JAMES M. MARTIN January 30, 1980 Mr. Lloyd Schnelle Ramsey City Administrator 15153 Nowthen Blvd. Ramsey, MN 55303 1 acre industrial lot sites Dear Lloyd, .I am writing this letter pursuant to our telephone conversation today to underline some of the points I made .over the phone. During a recent phone conversation with an industrial realtor frona the Thorpe Company, it came to light that a certain 10,000 square foot industrial building located on a 1 acre site in the City of New Hope had appreciated in value in the last year and a half by 40%. I asked this rdaltor what he thought the reason for that was. He said it was because there was such a short- age of buildings that size and particularly of 1 acre sites xvithin the Metro- politan area. He said that many of the close-in Suburbs were requiring a larger industrial site than 1 acre whereas a substantial part of the market demand is for' one acre sites. It occurs to me that if the City of Ramsey is really interested in ongoing industrial developme.nt that it could establish a 1 acre minimum industrial lot size and thus cater to this unfulfilled demand. I must confess that this bit of information is passed on to you as a matter of my own enlightened.self interest. However, if I understand the desires of the City of Ramsey, it wants its industrial land developed. It would appear to me that the establishment of a minimum industrial lot size as small as 1 acre would further this development. Thank you for hearing my opinion in this matter. Very truly yours, iIR. JOHNSON & ASSOCIATES, INC. M. Martin, Appraiser JMM:sr