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<br />. <br /> <br />. <br /> <br />. <br /> <br /> <br />4Uc! <br />e lDOe <br /> <br />- <br /> <br />EVERGREEN LAND SERVICES CO. <br />6110 BLUE CIRCLE DRIVE, SillTE 140 <br />MINNETONKA, MN 55343 <br />Office (612)-930-3100 Fax (612)-935-0862 <br /> <br />August 26, 1998 <br /> <br />Mr Patrick Klaers <br />City of Elk River <br />13065 Orono Parkway <br />Elk River, MN 55330-0490 <br /> <br />Re: Tyler Street Extension <br />Parcell <br />Roger & Jean Eull <br /> <br />I am requesting that we accept an offer by the Eull's of $50,000.00 to acquire in fee the <br />rights needed across their property to construct Tyler Street. <br /> <br />Our offer to the Eun's was $38,000.00. This is for 3.65 acres and was based on an <br />appraisal prepared by Patchin Appraisals. <br /> <br />The Eun's currently have 79 acres and it is zoned both I-I and R-1a. The taking, the <br />property needed by the City, splits the parcel about in half The greater portion of the <br />taking is on the I-I. The appraisal used an average value of$1O,416.00 per acre. This <br />included a small amount for severance. <br /> <br />The Eull's countered with $72,450.00. This was based upon the per acre price of <br />$19,850.00 which the City paid them for 0.68 acres adjacent to 171st and the railroad. <br />The City paid $13,500.00 for the 0.68 acres. <br /> <br />Through negotiations I made a counter offer, subject to City approval, of$12,000.00 per <br />acre or $45,600.00. The Eull's then reduced their price to $15,000.00 per acre or <br />$54,750.00. <br /> <br />After further negotiations an offer was made by the Eun's to split the difference and settle <br />for $50,000.00 which is $13,000.00 per acre. <br /> <br />successfully serving Our clients for 25 years . 1972 _ 1997 <br />