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CASE # 6 <br /> <br /> Amoco Property Acquisition <br />By: Scan M. Sullivan, Economic Development / TIF Specialist <br /> <br />Background: <br /> <br />Staff and the EDA have identified specific properties in need of redevelopment due to blighted <br />conditions. The property located at 5195 142nd Avenue NW is owned by Amoco.(See Map) City <br />Staff has been given clear direction from the EDA in regards to development and redevelopment <br />in the City of Ramsey, especially in the area known as the Critical Blight Redevelopment Area. <br />This property lies outside of that area but its close proximity to highway 47 make it a very visible <br />problem. The condition of this property and the pressure from the public has lead to increased <br />attention for this property by the City. <br /> <br />Observations: <br /> <br />Staff and elected officials have been contacted by the seller of this property within the last <br />month. Preliminary discussions have been held with BP America and it sounds like they are very <br />willing sellers. The public has also expressed displeasure with the blighted property to elected <br />officials stating that this property needs to be cleaned up and that it is an eyesore. The asking <br />price is $250,000 and up to this point, the buyer would assume full responsibility for any existing <br />environmental issues. This assumption of environmental issues has discouraged acquisition by <br />the private sector. Anoka County records have this property valued ~ $294,700. This sites <br />value includes a sub-standard building and a car wash which are of little use to the City. These <br />unpleasant amenities devalue the property. Staff needs to negotiate a "fair market value" for this <br />property and enter into meaningful negotiations. This property is located adjacent to TIF District <br />No. 1 and its budget allows for expenditures outside of its boundaries within Development <br />District No. 1. Staff is looking for a recommendation to enter into meaningful negotiations with <br />the property owners and to acquire this property for redevelopment purposes. <br /> <br />Recommendation: <br /> <br />Staff recommends that the EDA recommend to City Council that the City enter into meaningful <br />negotiations with BP America (Amoco) to acquire the property at 5195 142"d Avenue NW. <br /> <br />EDA Action: <br /> <br />Based on discussion <br /> <br />Reviewed by: <br />Jim Norman, City Administrator <br />Megan Wald, Associate Planner <br /> <br />EDA: 12/08/04 <br /> <br /> <br />