10. Bandimere Park & Carrico Acquisitions, Authorize Appraisals 1 /a
CITY 0 F ---,
CHANHASSEN
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I 690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317
(612) 937-1900
MEMORANDUM
' TO: Mayor and City Council
1 FROM: Don Ashworth, City Manager
DATE: May 8, 1989
1 SUBJ: Authorize Appraisals, Bandimere Park and Carrico Property
1 Bandimere Acquisition _
The City Council on April 15 , 1989 authorized entering into a
purchase agreement for the Bandimere property. The amount of the
1 earnest money is small , i .e. $2 ,000 . This was set by the Council
so as to allow time for public hearings prior to closing.
Similarly, before closing would occur, this office would recom-
mend that an appraisal be completed and received by the City
Council to verify that the amounts proposed to be paid are reaso-
nable and a prudent use of the general taxpayer ' s money.
1 Carrico Acquisition
The City has completed one appraisal on the Carrico property.
1 The property owner, knowing that the City was considering
purchasing the property, also hired an appraiser. The two
appraisals are significantly different, i .e. $60 ,000 versus
1 $330,000 . In discussing this issue with the City Attorney it is
the belief of both of our offices that a second appraisal should
be obtained before condemnation is instituted. If the property
1 owner ' s appraisal is in any way correct, major budget modifica-
tions would have to be considered to even consider condemnation.
In fact, I question whether sufficient monies could be found.
Recognizing the amount of citizen input previously received
1 favoring the Carrico acquisition, this office would feel far more
comfortable having a second opinion in hand before informing the
neighborhood that sufficient monies are not available to carry
1 out acquisition.
Recommendation
' This office would recommend that the City Attorney' s office be
authorized to obtain appraisals for both the Carrico and
Bandimere properties . �,��
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