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Mar-10-05 O2: 17P RY KRISP <br /> <br />612 3313212- <br /> <br />Stcve JankowskJ <br />Engineer, City of Ramsey <br /> <br />March 1 O, 2005 <br /> <br />In 19997 the State of Minnesota purchased,l/14 (.07) of an acre from the subject property <br /> <br />at a price o1' $1500. A fifll acre would multiply out to$21,000] 14 times 1500 = 21,000. <br /> <br />Land has appreciated over I0% pcr year Sillce that lime. 5. years times 10% works out <br /> <br />to a 50% increase on thc pr/ce of $21,000, an additional $10,500, for a total of $31,500. <br /> <br />am including a copy of the paperwork from (he State of Minnesota. <br /> <br />Apparently, there is a lot of room for negotiation between the City's appraisal and my <br />calculated value. <br /> <br />Would thc City be interested in granting a waiver of the Park and Trail Ibcs on my <br />20 acre parcel, upon future development, in exchange for this 1 acre parcel? <br /> <br />This may be of mutual benefit to the City, as wcll as myself. <br /> <br />I.Saln Mortenson <br />Property Owner <br /> <br />33 <br /> <br /> <br />