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your house is being purchased for and what the house you are buying is being sold for <br />(replacement cosO. Your moving costs are paid for. The object behind this is you are being asked <br />to sell property you did not want to sell. The only cost to the homeowner would be if there is a <br />problem with the title on your property. He explained the commissioner process. That process <br />takes about two to four weeks. There's also an appeals process - a jury process up to the supreme <br />court. You would not be reimbursed your attorney's fee. <br /> <br />Denny Eyler, SRF: You would have to look at these improvements. If you improve the bathroom <br />or kitchen, you will get 100% of your improvement, but a pool or hot tub will not offer the same. <br />You can do whatever you want to your homes because you will get the fair market value. <br /> <br />Resident: What about my situation. I have four acres. I could subdivide them and make some <br />money. <br /> <br />Mr. Storm: You can do that today. <br /> <br />Resident: A road will come through there. <br /> <br />Mr. Storm: They cannot stop you from doing that because this project is not planned for right <br />now. You can develop that property if it's legally possible. If they stop you from doing that, it's a <br />taking without compensation. That's against the law. <br /> <br />Mr. Eyler: MnDOT operates on a five-year plan and this project is not in this five-year plan right <br />now. Things could change dramatically - some change that could increase traffic, but they still <br />have to give us an 18-month notice. MnDOT usually does total takes. <br /> <br />Mr. Storm: It's very difficult for us to put your property in violation of the ordinance, that's why <br />we do total takes. <br /> <br />Mr. Eyler: Another observation is that generally real estate professionals are on the commissions. <br /> <br />Mr. Storm: They are bankers in real estate, attorneys in real estate, it will not be people fi.om the <br />City. It will be people who know real estate. There's a lot of compassion by the authorities that <br />are doing this. There's a lot of laws that protect the property owner. <br /> <br />Resident: How many cars? <br /> <br />Mr. Eyler: Probably about 11 to 12,000. If someone had the money, it would be a smart thing to <br />spend the money on. It's about half of the traffic on Highway #10. <br /> <br />Mr. Jankowski: The traffic will increase on Highway 4/47. <br /> <br />Resident: I have been in Ramsey for 18 years and I have seen it grow. How do we know it will <br />be 8 to 20 years. <br /> <br />Mr. Storm: We are aware of projects that have and have not gone. He talked about projects that <br />were supposed to happen and did not, but you should have seen all the development that took <br />place. There's speculation. You may not be the people they are dealing with 8 to 20 years from <br />now. I have not seen the real estate market affected by studies made. If your house is priced <br />reasonable, it should sell within three months. <br /> <br />Resident: Can we have at least a guarantee for five years? <br /> <br />Mr. Eyler: There's a 99% chance, probably, but there's no guarantee. <br /> <br />Neighborhood Meeting/149/47/August 1, 1996 <br /> Page 2 of 3 <br /> <br /> <br />