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<br />rei -'\) <br />( )j <br />rt~ <br /> <br />ITEM 4.5. <br /> <br /> <br />TO: <br /> <br />MAYOR & CITY COUNCIL <br /> <br />FROM: <br /> <br />PAT KLAERS, CITY ~STRATOR <br />JULY 23, 1993 V'r <br /> <br />DATE: <br /> <br />SUBJECT: ORONO PARKWAY EXTENSION <br /> <br />Earlier in July, the County Board reviewed a proposal from the <br />City of Elk River to purchase the Orono Parkway extension for <br />$5,000 per acre. This extension consists of 1.3 acres of <br />property in the southeast corner of the fairgrounds. This <br />extension will then go through the Lakoduk property on the <br />southern edge of the fairgrounds and connect into a future <br />north/south road between Highway 10 and County Road 30 <br />somewhere near the alignment of Joplin Avenue. <br /> <br />After review of the proposal, the County Board referred this <br />purchase request from the City to the County Assessor in order <br />to determine if the offer was of an appropriate amount. The <br />County Assessor indicated to the Board that the purchase offer <br />from the City was reasonable. <br /> <br />e <br /> <br />On 7/21/93, the County Board reviewed this information from the <br />County Assessor and then decided to make a counter-offer to the <br />City's proposal. The County Board offered to sell the City the <br />1.3 acres for $7,500 rather than the $6,500 that was offered. <br />This $7,500 counter-offer from the County equates to <br />approximately $5,800 per acre. <br /> <br />I believe that this counter-offer from the County is reasonable <br />and should be accepted by the City Council. If acceptable, the <br />Council should direct staff to prepare the necessary documents <br />to complete this transaction. The purchase is funded with MSA <br />monies. The actual transaction cannot be completed until it is <br />approved by the MSA Board. <br /> <br />e <br /> <br />P.O. Box 490 · 13065 Orono Parkway · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br />