My question involves real estate located in the State of: MN
I have around 5 acres in a the greater metro area of Minneapolis, MN. On this acreage is our primary home and it is zoned SFA. The city is planning and implementing a road improvement project that includes public water and sewage as well as significantly changing the grading and direction of a road we are on. This property has been publically listed for sale for a little over 1 year via the MLS. The city in order to execute their project will take several thousand square footage of our property, and the newly designed road will be run worrisomely close to our current home. That being said, there is an obvious effect on the potential sales price since the property and its location away from the current road are both factors in the potential sale.
We have not gone through the assessment procedure, since the project is still in its planning phase. That being said, I am trying to wrap my head around my options. While I am sure the city will compensate us, is there a provision whereby if the price of the home would be affected so significantly that the city must just purchase the entire property at its current list price?

