2009-06-15 Lamar Acquiring Land
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June 15, 2009
Pauline Olson
Lamar Advertising Company
P.O. Box 865
St. Cloud, Minnesota 56367
Re: Property ID # 101500364317
Dear Ms. Olson:
Thank you for visiting about the City of Albertville's interest in acquiring land
and/or permanent easements for stormwater ponding. Attached is an aerial picture
detailing your property in Albertville. Much of the land in this area is wetland;
however, there is some highland that we would like to evaluate for use as
stormwater ponding. The City currently has a 40 foot wide easement bisecting the
property with a water and sewer main in it. (See green lines on map).
As per our phone conversation, I asked Tony Rasmuson, Wright County Assessor
to provide insight into the County's methodology for establishing the market value
of billboard properties. Mr. Rasmuson stated that they apply a $60,000 value to
the billboards and then generally apply a $1,000 to $1,500 per acre for wetland and
other remnant lands. Mr. Rasmuson stated that your property does have some trees
and is somewhat unique, and that he valued the land at $8,700 per acre. Our
records indicate your parcel has 5.6487 acres and is valued for 2010 at $161,000.
The City is not interested in acquiring the two billboards. We realize the property
would most likely need to be appraised to determine the market value. Our
purchase would be subject to the City being able to permit the desired stormwater
ponds. Please think about this opportunity and give me a call at your earliest
convemence.