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"3. The owner has expended substantial sums in reliance on the <br /> agreements with the City. In reliance on the Planned Unit Development <br /> Agreement and the Developer Agreement for this property, both of which <br /> agreements require a commercial use for the lot in question, the owner <br /> spent at least $530,000 fulfilling the requirements for improvements, as <br /> set forth in the Developer Agreement. The owner also paid $60,900 in <br /> park dedication fees, as well as other city fees and expenses, such as, by <br /> example, the cost of the City mandated letter of credit. <br /> "4. The owner has been charged, taxed and assessed at the <br /> commercial rate since 2001. The owner was charged the park dedication <br /> fee at the commercial rate. The owner has paid the commercial rate for <br /> the city water and sewer assessments, and the owner has paid real estate <br /> taxes at the commercial tax rate since 2001. <br /> "S. The City has romoted this lot as a commercial lot. With <br /> prompting from the City, the owner vigorously marketed this lot as a <br /> potential restaurant site, and even had a former mayor of Elk River meet <br /> on site with a restaurant owner." <br /> We are not optimistic that noting those points again here will do much <br /> good, and believe that there is not much the property owner can do, if the City <br /> is set on making Lot 4 an extension of Yale Street Northwest, but the concern <br /> we expressed on October 28 has now been realized. We anticipated the City's <br /> making Lot-4 a city street, and that is exactly what the City now proposes to do. <br /> We have come to the realization that the City is set on making Lot 4 a city <br /> street. We are prepared to acknowledge that eventuality and move on. We <br /> have concluded, in effect, that the owner's "moving on" is a foregone <br /> conclusion, so as we move on let us enter into meaningful discussions with the <br /> City, to the end that the City pay Just compensation for Lot 4. If those <br /> discussions are not successful, then we have no alternative but to request the <br /> City to condemn Lot 4. For the City to do less, for the City to designate this <br /> property as a city street, and then do nothing, would amount to the inverse <br /> condemnation of Lot 4. <br /> 3 <br />