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Once approved, the appraisals of the properties as encumbered by right-of-way easements will be used at <br /> a hearing before court-appointed land commissioners for a determination of compensation. To acquire <br /> title to the properties, the city will deposit into court an amount equal to the approved appraised value of <br /> the properties, as encumbered by the right-of-way easements, or $3,000. This will occur on or around <br /> September 22. The land-commissioner hearing will follow several months later. <br /> MnDOT still needs to obtain an appraisal and final approval before making an offer to the city for the <br /> release of its easements. MnDOT generally won't order their appraisal until after the city has obtained <br /> ownership on September 22. MnDOT's appraisal process can take up to five months;however,MnDOT <br /> staff indicated that if the city will submit its appraisals for Parcel 1A and 1B for review by MnDOT in- <br /> house appraiser, the appraisal process can be reduced by several months. <br /> MnDOT will review the appraisals submitted by the city to make a determination of the value of the <br /> highway easement. The city will then be required to pay MnDOT for the release of the easement. <br /> Once this process is complete, staff will work to negotiate with the developer a sales price about equal to <br /> the acquisition of the MnDOT easement,parcels 1A, 1B, 3A, the county-owned parcel and the fees <br /> related to the condemnation action. <br /> Financial Impact <br /> None <br /> Attachments <br /> ■ Resolution Amending Appraisal Values <br /> ■ Parcel Diagram <br /> ■ MnDOT Letter of Intent <br />