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Ma~'.-].0-05 02: 17P RY KRISP 612 3313212 P 02 <br /> <br />Steve Jankowski <br />Iinginecr, City of'Ramsey <br /> <br />March 10, 2005 <br /> <br />In 1.999, the State of Minnesota purchased 1/1.4 (.07) of an acre from the subject property <br />at a price of $1500. A fidl acre would multiply out to$2'1,000~ 14 times 1500 = 21,000. <br />Land has appreciatcd over 10% per year since that time. 5. years times 10% works out <br />to a 50% increase on thc price of $2t,000.. an additional'S10,500, for a total of $31,500. <br />T am including a copy of the paperwork from the 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 tees on my <br />20 acre parcel, upon future development, in exchange for thi~ I acre parcel? <br /> <br />This may be of mutual benefit to the City, as well as myself. <br /> <br />I ,ynn .Morten son <br />Property Owner <br /> <br />33 <br /> <br /> <br />