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<br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Park and Recreation Commission <br /> <br />FROM: <br /> <br />Bill Maertz, Parks and Recreation Director <br /> <br />DATE: <br /> <br />August 9, 2006 <br /> <br />SUBJECT: <br /> <br />Appraisal of Gruys Property <br /> <br />ITEM: <br />Appraisal of Gruys property. <br /> <br />BACKGROUND: <br />Staff has been researching potential land acquisitions for an area wide park in NE Elk River. <br />Mr. Richard Gruys has expressed interest in selling his 210 acres to the city for a park. If the <br />Commission believes that this is worth pursuing, staff would like to move forward with an <br />appraisal to determine which funding strategies to pursue. <br /> <br />ANALYSIS: <br />This property is 60 percent wetlands which somewhat limit development potential. (See <br />attached) The parcel contains several desirable elements. There is a small lake, high quality <br />oak woods and the Trott Brook meanders through the property. In addition there are some <br />historical features. An appraisal would enable the Commission to evaluate whether this <br />parcel is worth pursuing. An appraisal of this type will be in a range of between $2,000 and <br />$3,500. <br /> <br />ACTION REQUESTED: <br />Make recommendation to the City Council that an appraisal be performed on the Richard <br />Gruys property. <br /> <br />FUNDING SOURCE: <br />Park dedication fund <br /> <br />ATTACHMENT: <br />Property image with wetland overlay <br />