Laserfiche WebLink
,. _ <br />~ f_ f c F ; <br />ew <br />o <br />._ <br />°' righton <br />~ , <br />cv May 20, 1982 <br />.~- <br />Q <br />~' Robert Nethercut <br />Suite 300 _ <br />'z Metro .Square Building <br />? St. Paul, .Minnesota 55101 <br />~ ~' <br />z Dear Bob: ' <br />`~ The New Brighton City Council has approved the master <br />plan for Long Lake Park and the attendant Joint Powers <br />m Agreement with Ramsey County for operation and mainten- <br />~ ance. The council also directed staff to proceed with <br />z negotiations for the "buy out" of the city's interest <br />~ in Long Lake Park. <br />~ Q <br />o `The city had provided you with a but' out figure in 1982 <br />~ of $750,000. This figure was based on the assumption <br />Y that since the City of Eden Prairie had not been reim- <br />~ bursed for its interest costs in a similar situation,. <br />~ that interest costs were not allowable and the fact that <br />w the former Director of Finar..ce did not include interest <br />~ expense. <br />Attached is a summary from the City Accountant explaining <br />.- the costs incurred by the city for the purchase of Long <br />~ Lake Park., In addition to the costs detailed in the <br />Z attached memo, the city has incurred $44,500 of steward- <br />_ g ship costs since 1974. These costs include attorneys fees, <br />f' taxes, topographic studies and clean-up costs. The following <br />a i,s a summary of the city's costs: <br />w <br />P Initial Purchase Costs $ 651,541 <br />z Interest Costs to Date 394,672 <br />~ Future Interest .Costs 146,849 <br />w Stewardship Costs 46,560 <br />~ $1,237,622 <br />U <br />W <br />D <br />Z <br />Q <br />Y <br />Q <br />{~, ~. <br />`~ <br />